Businessmirror September 20, 2019

POLL: Q3 BIZ OUTLOOK LESS UPBEAT

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Motoring » E2-E3

Maxus introduces the G10 assist for PWds

HE outlook of businesses on the economy was less sanguine in the third quarter due to the slack in demand and slowdown of business activities during the rainy season, according to the results of a survey conducted by the Bangko Sentral ng Pilipinas (BSP).

Results of the Business Expectations Survey (BES) conducted by the BSP indicated that overall confidence index (CI) for the third quarter fell to 37.3 percent, from 40.5 percent for the second quarter.

The BSP said respondents attributed their weaker sentiment for the period to: seasonal factors, such as slack in the demand and slowdown of business activities during the rainy season; decline in orders leading to lower sales; lack of

supply of raw materials; and the perceived unfavorable effects of various government policies, such as the rice tariffication law and stiffer competition.

The CI is computed as the percentage of firms that answered in the affirmative minus the percentage of firms that answered in the negative with respect to their views on a given indicator.

The lower but positive Cl means that the number of optimists declined but continued to be greater than the number of pessimists for the third quarter of the year.

The sentiment of businesses in the Philippines mirrored the less buoyant business outlook in Bulgaria, Croatia, Germany, India and Norway.

However, business sentiment in

Australia, Brazil, Canada, Chile, France, Greece, Hungary, Israel and Ukraine was more optimistic.

The results of the BES were in contrast to the results of the Consumer Expectations Survey (CES), which showed Filipino consumers as more optimistic.

The BSP said the overall CI rebounded to positive territory at 4.6 percent for the third quarter, from -1.3 percent for the second quarter. Consumers’ optimistic outlook was attributed to their expectations of the following: improvements in the peace and order situation, availability of more jobs, additional and high income and good governance.

The BSP said the improvement in See “Biz outlook,” A2

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A broader look at today’s business Friday, September 20, 2019 Vol. 14 No. 345

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Aug data raises 8-mo BOP surplus to $5.5B $2.44B T

By Bianca Cuaresma

@BcuaresmaBM

HE Philippines continued to earn millions of dollars in August this year, as the Bangko Sentral ng Pilipinas (BSP) reported a higher surplus in the economy’s balance of payments (BOP) during the period.

Data from the BSP released on Thursday showed a total surplus of $5.529 billion in the first eight months of the year, after incurring a $493-million surplus in August alone.

The eight-month surplus is a steep turnaround from the

$2.44-billion deficit in the same eight-month period last year.

Meanwhile, August’s surplus is lower than the one-off $1.27-billion surplus in the same month in 2018.

A country’s BOP is one of the

more important external indicators of its economy. A surplus in the BOP means the country earned more dollars than what it spent during the time period while a deficit means the economy lost more dollars than what it could earn given

The BOP deficit in the JanuaryAugust period in 2018

the time period.

The BSP said inflows in August 2019 were due to the national government’s net foreign-currency deposits, as well as the Central Bank’s income from its investments abroad.

These inflows were offset partially, however, by outflows representing payments made by the national government on its foreignexchange obligations during the month in review.

See “BOP,” A2

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MULTILEVEL MARKETING SCAMS TARGET OF DRIVE

By Elijah Felice E. Rosales @alyasjah

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HE Department of Trade and Industry (DTI) is intensifying its campaign against the billion-dollar sector of illegitimate multilevel marketing (MLM) by tightening its rules and regulations on the conduct of such business activity.

Trade Secretary Ramon M. Lopez said he is issuing a department administrative order putting up an accreditation system that will certify the operations of legitimate MLM firms and direct sellers. Primarily geared toward protecting consumers, the DAO also intends to expose pyramiding schemes posing as MLM programs.

Lopez said the DAO has a list of indicators the public can use in determining whether they are dealing with pyramiding schemes.

“To protect consumers and aspiring direct sellers, we are establishing an accreditation system that will give due recognition to legitimate multilevel marketing

Ex-DOF chiefs seek tax-reform bills’ OK

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ORMER finance secretaries expressed their support for the immediate passage of the remaining packages of the Comprehensive Tax Reform Program, saying the CTRP is crucial to cutting poverty incidence to 14 percent, from 21 percent in three years.

In a joint statement, the former finance chiefs and economic experts stressed that tax reforms, among other measures, will help the Duterte administration achieve its twin goals of attaining an “Aminus” sovereign credit rating in the next few years and reducing poverty incidence.

The remaining four packages of the tax-reform program, which are currently being deliberated in Congress, are Package 2, or the Corporate Income Tax and Incentives Rationalization Act, Package

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2+ or the “sin” tax reform further increasing excise taxes on alcohol and e-cigarettes, Package 3 or the Real Property Valuation Reform, and Package 4 or the Passive Income and Financial Intermediary Taxation Act. They said these tax reforms, as well as the proposed amendments to the Public Service Act, the Foreign Investments Act (FIA) and the Retail Trade Act (RTA), will also benefit the country.

“A modern fiscal incentive system that is performance-based, targeted, time-bound and transparent will ensure that each peso granted as an incentive is not wasted, and is instead given to companies that provide a net positive benefit to the country,” the statement read.

See “Ex-DOF,” A2

and direct sellers so that the public will be guided. We are also giving indication of and alarm signals for illegitimate MLMs, procedure for filing of complaints and enforcement,”Lopez told the BusinessMirror.

The issuance of the order will come at a time the value of consumer goods sold through MLM has reached billions of dollars: $1.4 billion for legitimate, $1 billion for underground, according to Trade Undersecretary Ruth B. Castelo.

“Global sales [through MLM programs] in 2018 is $193 billion, while sales in the Philippines is about $1.4 billion. Alleged illegal MLM revenues in the Philippines could reach an additional $1 billion,”Castelo told the BusinessMirror.

Crucial order THE DAO is crucial, Castelo explained, because it recognizes there are legitimate MLM firms, and sets up alarm signals for illegitimate MLMs, procedures for lodging of formal charges and enforcement of the rules and regulations.

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Q3 GDP growth may hit 6%–Pernia

By Cai U. Ordinario

G MORE RAINS Young boys enjoy the spray as strong winds brought about by a weather disturbance whip up the waters at the Manila Bay in the Baseco area in Tondo, Manila, on Thursday, September 19. Tropical Depression “Nimfa” was upgraded to a tropical storm, and meteorologists predicted rains continuing toward the weekend. NONIE REYES

@caiordinario

OVERNMENT spending, one of the country’s growth engines, will allow the Philippines to expand GDP by at least 6 percent in the third quarter, according to the National Economic and Development Authority (Neda).

Socioeconomic Planning Secretary Ernesto M. Pernia told reporters at the sidelines of the 5th Annual Public Policy Conference (APPC) held in Manila on Thursday that GDP growth may be around 6 percent in the third quarter, the low-end of the government’s target.

US 52.2150 n JAPAN 0.4815 n UK 65.1434 n HK 6.6679 n CHINA 7.3677 n SINGAPORE 37.9469 n AUSTRALIA 35.6472 n EU 57.5984 n SAUDI ARABIA 13.9218

See “Growth,” A8

Source: BSP (19 September 2019 )

News

BusinessMirror

A2 Friday, September 20, 2019

OFW resilient amid Saudi, HK troubles–Neda chief

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By Cai U. Ordinario

@caiordinario

HE National Economic and Development Authority (Neda) believes overseas Filipino workers (OFWs) will remain resilient amid concerns in Saudi Arabia and Hong Kong, two of the economies that host the most Filipino workers.

However, Socioeconomic Planning Secretary Ernesto M. Pernia told reporters at the sidelines of the Fifth Annual Public Policy Conference (APPC) that should OFWs decide to come home and work here, the economy can give them jobs.

Pernia said the government needs more workers, particularly for the “Build, Build, Build” (BBB) program, its ambitious infrastructure initiative. “[In Saudi], our Filipinos are nimble and agile. They are resilient so that’s not a problem,” Pernia said. “[In Hong Kong], I don’t think they are being affected. They are able to insulate and keep to themselves.”

While no Filipino workers were injured in the drone attacks on two of Saudi Arabia’s biggest oil facilities at the weekend, fears were raised that thousands of OFWs in the eastern province may need to be

relocated if the situation worsens.

In Hong Kong, meanwhile, consulate officials have repeatedly advised OFWs to avoid areas where pro-democracy groups hold protests, to avoid being caught in the crossfire.

Remittances sustained

PERNIA said proof of OFW resilience is the steady rise in remittances. The Bangko Sentral ng Pilipinas (BSP) reported a 7.5-percent rise in the country’s remittances in July, allaying fears of a slowdown in one of the country’s largest dollar sources.

Filipino migrant workers sent $2.581 billion in cash remittances in July alone, $180 million higher than the $2.401 billion sent home in the same month last year.

T he 7.5 -percent grow th in remittances was a turnaround

from June’s performance, where Filipino migrant workers sent less money back home. June’s 2.9-percent contraction marked the largest decline of OFWs cash transfers for 2019.

On a cumulative basis, cash remittances for the first seven months of the year hit $17.2 billion, 3.9 percent higher than the $16.6 billion recorded in the same period last year.

Broken down, cash remittances from land-based and sea-based workers increased by 2.5 percent to $13.4 billion and 8.9 percent to $3.8 billion, respectively.

‘OFW phenomenon to stay’

FORMER Socioeconomic Planning Secretary Cielito Habito said in his presentation at the APPC that the OFW phenomenon is here to stay given the sheer number of workers in the Philippines.

The Philippines still enjoys a healthy number of young workers who can support young and old Filipinos who may not have the strength, capability or qualifications to work, he said.

Habito said the Japan-Philippines Economic Partnership Agreement (Jpepa) is actually being renegotiated to consider not only the number of Filipino workers but also the aging Japanese population.

“You can see that the OFW phenomenon [will probably] be here to stay. We are likely to end up, like it or not, as exporters of human resources,” Habito said.

The strength of the Philippines when it comes to labor export, Habito said, is young Filipinos who are digital natives and “favor remote work” and being their own boss.

This, Habito said, will likely impact on laws, such as the Security of Tenure (SOT) law. He said Generation Z are likely to change jobs as many as 10 times between the ages of 18 and 34 years old.

With this, Habito said employers must adjust and accept the reality of having high turnover rates. They should also embrace and apply new technology.

Employers and the economy must also invest in developing soft skills, such as persuading and influencing; communicating articulately; managing conflict; and navigating policies, he said.

He added that employers must be more conscious about managing employee stress levels given the rise in suicides in recent years.

Meanwhile, data from the Philippine Statistics Authority showed majority or 82.6 percent of all OFWs are working in Asia. Over half of the workers or 54.9 percent are in the Middle East.

Saudi Arabia hosts 24.3 percent of all OFWs in the world, the highest in any single economy followed by the United Arab Emirates at 15.7 percent.

Around 6.3 percent of OFWs, meanwhile, are working in Hong Kong. Around 18.7 percent of OFWs are working in East Asia.

SOLONS SEEK P15-B NFA FUND TO BUY PALAY

By Jovee Marie N. dela Cruz @joveemarie

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AWMAKERS from the Makabayan bloc on Thursday filed a House Joint Resolution providing for a supplemental budget of P15 billion to the National Food Authority (NFA) for the purchase of unhusked rice from planters in the fourth quarter.

House Joint Resolution 18 was also signed by 47 lawmakers who expressed their support for it. The resolution indicated that the supplemental budget will be used for the “exclusive and urgent procurement” of at least 750,000 metric tons (MT) of palay from local farmers at the farmgate price of P20 per kilogram, which the NFA should sell at P27 per kg.

The solons said the NFA can only

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That cannot be of help to a manager at the helm of a very controversial line agency,” Magalong said in a mix of English and Filipino.

He noted that a “jammer” is unreliable as the one operating it can be easily corrupted, based on experience. “That [corrupting the jamming device operator] was done before.”

He recalled how a former BuCor chief, retired general Rainier Cruz, had once complained to him that the jamming seemed “concentrated” on Cruz’s office, not the inmates’ areas.

Key weapon: tech-based analytics

MAGALONG stressed, “there are new systems now that we can actually introduce like digital governance. What do I mean by digital governance? These are very expensive technology that are available now.”

Magalong explained that “with digital governance, you have all these—what we call AI cameras, AI technology that features analytics. These are analyses of quantitative and qualitative data.”

With these tools, “immediately in a few seconds you generate all these reports

purchase 350,000 MT or 7 million 50-kilogram sacks of palay from local farmers at P20 per kg farm-gate price through its current buffer-stocking budget of P7 billion for this year.

“The country is once again entering the harvest season of the lean second cropping. The NFA must be refueled with adequate funds so that it can procure a substantial portion from the coming harvest,” said the resolution.

Wet season harvest will begin in October and farmers’ group, such as the Federation of Free Farmers (FFF) Inc., said the farm-gate price of rice could go down further during this period.

Citing data from the Philippine Statistics Authority (PSA), the solons said the average farm-gate price of palay has hit its lowest in more than two years, as cheap imported rice sur-

above,” he said, and cited, an example: “Let’s say you suspect some wrongdoing in a place frequented by certain people, probably something is happening there, immediately you can generate data and find out who are the inmates who go there.”

He added, without such tools, the work of the BuCor becomes truly difficult. “How can you monitor 19,000 inmates or probably 22,000 inmates—now it’s 27,000 inmates?”

Just reviewing the CCTV monitors would make one dizzy. “But with AI technology, you can generate data on who’s frequenting which place. In a matter of seconds, you can generate the report that Mr. Magalong has been there for 349 times. Mr. Alipio went there 251 times—if you want to find out how many times did this inmate and this particular BuCor personnel met.”

Moreover, Magalong pointed out that in a matter of seconds, one can churn out statistics to validate information provided by whistleblowers, for instance. “If someone reported to you that the suspected visitor was wearing red, you’d have to look at the CCTV all night in search of that person, and there are many people wearing red. With AI, with this kind of technology, just analytics, immediately the three months or four months of data can be compressed...in just one hour.” With Samuel P. Medenilla, Bernadette D. Nicolas

passed 1.3 million metric tons during the first half of 2019.

Lawmakers said the additional budget for NFA will ease the impact of the rice trade liberalization law, which opened the floodgates for the “massive” importation of rice, leading to a sharp decline in farm-gate prices and huge losses for planters.

They said the P1-billion allocation for expanded rice credit assistance under the Rice Competitiveness Enhancement Fund (RCEF) as part of the rice trade liberalization law is certainly not enough to aid rice farmers, “notwithstanding the fact that it requires minimum collateral and imposes minimum interest rates.”

Also, citing farmers’ groups, the solons noted that some regions, such as Central Luzon, are reporting farmgate price levels at P11 per kg or even

Biz outlook. . .

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consumer confidence for the period was observed across the three component indicators of consumer confidence, namely, the country’s economic condition, family financial situation and family income.

However, both firms and consumers expect better economic conditions for the fourth quarter.

Ex-DOF. . .

Continued from A1

“We support Package 4 of the CTRP as it makes the taxation of passive income and financial services and transactions simpler and more efficient by reducing the number of combinations of tax bases and rates from 80 to 40,” it added.

The economists and former finance chiefs believe that “all these reforms are necessary if the Philippines is to move forward to a future with no extreme poverty by 2040.”

Their statement of support for the CTRP was in response to the call of Finance Secretary Carlos G. Dominguez III last week for these

P7 in some areas.

They added Filipino farmers have lost around P40 billion in just the first half of the 2019 due to the huge drop in the price of palay.

The solons said the Department of Agriculture’s Expanded Survival and Recovery Assistance program for Rice Farmers (SURE Aid) amounting to P1.5 billion will only provide each farmer P15,000 in the form of zero-interest loans, and will only cover 100,000 planters out of the total estimated 2.4 million rice farmers nationwide.

Republic Act 11203, otherwise known as “An Act Liberalizing the Importation, Exportation and Trading of Rice, Lifting for the Purpose the Quantitative Restriction on Rice, and for Other Purposes,” was signed into law on February 14 by President Duterte.

The optimism of businesses was based on expectations of higher consumer demand during the holidays and harvest, continued increases in orders and projects, and more favorable macroeconomic conditions, higher government spending and business expansion.

Consumers were also more upbeat about the fourth quarter as they anticipate the availability of more jobs, additional and high income, good governance and stable prices of goods. Bianca Cuaresma prominent public figures to rally behind proposals to improve the country’s tax system and make it “simpler, fairer and more efficient.”

The statement was signed by: Former Prime Minister and ex-Department of Finance (DOF) Secretary Cesar Virata, former DOF Secretary and Sen. Alberto Romulo, former DOF Secretaries Margarito Teves, Roberto de Ocampo and Jose Camacho, and former DOF Undersecretary Romeo Bernardo.

The statement was also supported by former Socioeconomic Planning Secretaries Cielito Habito and Arsenio Balisacan; Fermin Adriano, former vice chancellor of the University of the Philippines-Los Baños; and Filomeno Sta. Ana, coordinator of the Action for Economic Reforms. Bianca Cuaresma

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House may approve 2020 budget bill today

By Jovee Marie N. dela Cruz @joveemarie

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HE House of Representatives is targeting to approve the proposed 2020 P4.1-trillion General Appropriations Act (GAA) on Friday after President Duterte certified the bill as urgent.

House Committee on Appropriations Chairman Isidro T. Ungab said the second and third reading approvals are both possible on Friday with the urgent certification from the Palace.

“The need to pass the budget on time is of immense importance in helping boost the economy, that is why we thank President Duterte for certifying the budget as an urgent measure,” said Ungab.

“Given the said certification, the P4.1-trillion budget for 2020 may be passed on the same day without waiting for separate days to have it approved on second and third readings.

Thus, it is possible that the GAB [General Appropriations Bill] will be passed this Friday, since it was already certified as urgent,” he added.

After the approval in the House, the 2020 national budget will be transmitted to the Senate for its own deliberations.

Majority Leader Martin G. Romualdez assured Filipino taxpayers that the 2020 budget will be a “reflection not only of the President’s vision, but also of the people’s will.”

“We, in Congress, support the initiatives of the Duterte administration to empower the poor through increased subsidies and grants aimed at ending the intergenerational cycle of poverty in the country,” he added.

Deputy Speaker Raneo Abu said the timely passage of the 2020 national budget is the House’s commitment to the President and the public.

“Definitely, this will uplift the living condition of poor Filipinos in all parts of the country. This will also ensure the country’s high and sustainable economic growth performance,” he said.

On Wednesday, Duterte certified as urgent the 2020 budget to ensure its timely passage and prevent a repeat of the delay in the passage of the 2019 budget.

In separate letters to Senate President

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This was due to the sudden plunge in the domestic hog population of China, the world’s biggest pork produce, after it was discovered that ASF had spread in many Chinese farms during the latter part of 2018.

LGUs may heed EO

AGARRADO said Pampi appealed for the issuance of the EO as the group believes that this will be recognized by the LGUs. “We have this feeling that [LGUs] don’t recognize the Food and Drug Administration and the Department of Agriculture, that’s why they have different policies.”

Pampi on Wednesday urged the government to issue unified national guidelines for the transport of processed meat products after their shipments were disallowed in some provinces due to the ASF scare.

“We earnestly request that unified national guidelines be adopted immediately to ensure that individual LGUs do not enforce rules that are inconsistent or contradictory,”Pampi said in its letter dated September 16, a copy of which was obtained by the BusinessMirror.

BOP. . .

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The continued surplus during the month was incurred despite the net outflows for foreign portfolio investments (FPIs) in the first eight months of 2019.

By the end of August, FPIs hit a net outflow of $1.098 billion in the first eight months of the year. This is a reversal of the $602-billion net inflows in the same period last year.

FPIs are known as“hot”or“speculative” money because they are easily pulled in and out of the local platforms in the slight change of global and local sentiment.

This type of foreign investment is usually a measure of the global

Vicente Sotto III and House Speaker Alan Peter Cayetano, Duterte cited the need to certify the money measure as urgent “in order to address the need to maintain continuous government operations following the end of the current fiscal year.”

The President also cited the need to expedite the funding of various programs, projects and activities for 2020, and to“ensure budgetary preparedness that will enable the government to effectively perform its Constitutional mandate.”

Pork barrel?

HOUSE Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate challenged lawmakers to get rid of the “pork barrel”system and have a national budget that “genuinely and directly goes to the services that is needed by their constituents.”

“Bayan Muna and Makabayan bloc representatives did not avail or partake of any of the so-called P100-million allocation per House member for itemized projects to be included in the 2020 national budget,” Zarate said.

“Even if it is argued that it is not contrary to the 2013 Supreme Court decision outlawing lump sum allocation and post-enactment intervention of Congress members, this 2020 congressional entitlement is still part of the pervasive patronage system that unfortunately marks our budget process,” he said.

Earlier, House Committee on Ways and Means Chairman Joey Salceda said P100 million was allocated to each congressman under the proposed 2020 national budget.

Of the P100 million, he said P70 million is allotted for infrastructure projects, while P30 million is for medical and educational assistance.

Salceda said, however, that the P100 million is not pork barrel as the allocation cannot be considered as a lump sum.

Also, Albay Rep. Edcel Lagman, citing a SC decision, said pork barrel is a congressional intervention after the enactment of the GAA. In 2013, the SC abolished and declared the Priority Development Assistance Fund unconstitutional.

The letter was signed by Pampi President Felix O. Tiukinhoy Jr. and Vice President Jerome D. Ong, and was sent to Agriculture Secretary William D. Dar, Health Secretary Francisco T. Duque, Trade Secretary Ramon M. Lopez and Interior Secretary Eduardo M. Año.

Smaller hams

MEANWHILE, Agarrado also said meat processors may be forced to produce smallersized hams this Christmas season to offset the increase in production cost.

Local meat processors may also cut their production this holiday season since consumers are moving away from pork products due to the local ASF scare, he added.“We may produce less.

There’s a negative sentiment on pork products and consumers are staying away from it,” he told the BusinessMirror in an interview recently.

“Hams are finished products which we cannot process into something else if we aren’t able to sell all our stocks,” he added.

Individual meat processing firms are expected to file their respective price increase petition before the Department of Trade and Industry soon. “We do the price increase individually. But nonetheless, the price increases are inevitable,” Agarrado said. economy’s investing sentiment to the Philippines in short-term prospects for yields, in contrast to foreign direct investments (FDI) which are investments placed in the Philippines in search for long-term yield.

The larger net outflow in the Januaryto-August period came after the Philippines incurred a $391.74-million net outflow of hot money in August alone.

Among the developments that swayed investor behavior during the period include ongoing trade tensions between the US and China; the devaluation of the Chinese yuan; inversion of the US Treasury bond yield curve; heightened protests in Hong Kong; and the lower gross domestic product outturn for the second quarter of 2019.

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Finally, action rather than talk.

Thank you, America–Locsin

By Recto Mercene @rectomercene

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OREIGN Affairs Secretary Teodoro Locsin Jr. on Wednesday thanked the US following an Armed Forces of the Philippines Western Command (Wescom) report that the country will receive a donation of command and control facility from the country’s only treaty ally.

“Finally, action instead of more talk. Thank you America,” Locsin tweeted.

The Wescom is tasked to protect the West Philippine Sea’s exclusive economic zone (EEZ) in the highly contested West Philippine Sea (WPS), a chunk of the whole South China Sea (SCS).

However, due to lack of men and military equipment, the Philippines is only able to occupy Pag-Asa Island where a community has been established. The other occupied feature is the Second Thomas Shoal and another feature that both belong to the Kalayaan Island Group (KIG) that the country claims.

Lately, it was reported that the Navy is quietly reinforcing the hull and deck of the rusting BRP Sierra Madre to forestall the crippled ship’s total collapse. The vessel was deliberately ran aground in Second Thomas Shoal in 1999 and has since stationed a contingent of Navy personnel there.

Locsin said he has filed at least 50 diplomatic protests against China every time that a Filipino fishing vessel is harassed by suspected members of the Chinese militia and when Chinese ships

intrude into the country’s EEZ. He said the Philippines will never give up the Arbitral Tribunal ruling, declaring China’s widespread claim over the 3.5-million hectare SCS in the same way that China has insisted that it will never give an inch to the whole area based on historical claims.

However, Locsin said both the Philippine and China have “agreed to disagree” by sticking to their individual claims in the SCS without sacrificing mutual cooperation in trade and other cooperative endeavors.

“Sal [Presidential Spokesman Panelo], we gotta be realistic. We can never ever give up the Arbitral Award. Our people will kill us in our beds and rape our sons if we do it. But we will never ever get UN to vote for Arbitral Award. So let’s leave it as is; move on to mutual beneficial cooperation. Such is life,” Locsin tweeted.

The Philippines is determined to occupy the shoal following the truism that “occupation is possession,” he added. This is the manner that Beijing has occupied seven features in the West Philippine Sea and eventually putting up radar installations, a runway and barracks and actually militarizing the area.

The US regularly conducts freedom of navigation operations in the area, allegedly to prevent China from declaring the area a no-fly zone, where some $3 trillion of goods yearly passes through.

Presently, the US is locked in a trade dispute with China, and has been critical of the Chinese militarization of the SCS.

House resolution condemns Espino ambush, urges PNP to catch gunmen

By Jovee Marie N. Dela Cruz @joveemarie

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HOUSE resolution has been filed strongly condemning the ambush of former Pangasinan Gov. Amado Espino Jr. who also previously served as a legislator.

House Resolution 330, principally authored by Deputy Speaker Luis Raymund Villafuerte, “condemned in the strongest possible terms” the ambush of Espino in San Carlos City, Pangasinan, last September 11.

The resolution also asked the Philippine National Police (PNP) to apprehend the suspects, while calling for a speedy investigation in aid of legislation into the same similar attacks against government leaders.

“Such a murderous act has no place in this society, especially under the administration of President Duterte, who has won broad and deep popular support for his tough stance against crime,” the resolution read.

Espino is still recovering from

the bullet wounds he sustained in the ambush.

A few days before his ambush, Espino asked the PNP to provide him with security escorts owing to the death threats he had been getting. Because of “credible threats” to his life, the Police Security and Protection Group detailed to him with two escorts.

One of his bodyguards, police Staff Sgt. Richard Esguerra was killed in the ambush, while the rest are still recovering.

The assailants left their getaway vehicle in Barangay Cubol in the same city. Inside the reported getaway vehicle were two M16 riffles, a face mask clothes and a cap.

Earlier, Majority Leader Martin Romualdez and Deputy Speaker Raneo Abu of Batangas urged authorities to bring the perpetrators to justice.

“We appeal to our authorities to arrest those behind this dastardly act,” Romualdez said.

Hazing eyed in PMA cadet’s death

By Rene Acosta @reneacostaBM

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CADET of the Philippine Military Academy (PMA) died on Wednesday in a case that is still being investigated amid suspicion that the fatal incident could be related to hazing.

Cadet 4th Class Darwin Dioso Dormitorio, a native of Cagayan de Oro, was declared dead at around 5:15 a.m. while doctors at the academy’s hospital was trying to revive him.

An initial report said Dormitorio’s cause of death was cardiac arrest secondary to internal hemorrhage.

PMA Superintendent Lt. Gen. Ronnie Evangelista refused to pro-

@sam_medenilla

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LMOST half of Filipinos have migrated away from their place of birth at least once in their lives, according to a new study of the Philippine Statistics Authority (PSA).

During the presentation of some of the results of its first-ever National Migration Survey (NMS) on Wednesday, the state statistical agency classified 50 percent of Filipinos as “ever moved,” or those who transferred or resided in another city/municipality, province, region or country for three months.

Of these individuals, PSA said 55 percent migrated within the country.

Another 2 percent moved abroad, while 4 percent were able to travel both here and abroad.

The remaining 45 percent were nonmigrants.

The results of the study, which was conducted last year by PSA, in partnership with the University of

the Philippines Population Institute (UPPI), covered 49,000 households.

UPPI Prof. Nimfa B. Ogena, one of the writers of the NMS said the top destination of those who migrated within the country are the National Capital Region, Calabarzon and Central Visayas.

Meanwhile, most of those, who migrated abroad went to the Kingdom of Saudi Arabia, United Arab Emirates and Malaysia.

Impact on government policies NATIONAL Economic and Development Authority Director Reynaldo R. Cancio lauded PSA and UPPI for the comprehensive NMS, which he said reflected the sheer number of Filipino migrants in the country.

He said it highlighted the need for the integration of migration agenda in the government’s policies in the next three years.

“It is very useful for us, who are making policy especially now we are in the midst of reviewing the PDP [Philip-

vide further details about Dormitorio’s death, saying the incident is undergoing investigation as they also await an official medico legal report.

The academy head also said that the cadet’s parents, who were already at the PMA, do not want the case of their son to be “publicized,” which they were honoring.

Dormitorio, of the Echo Company, was found unconscious by a relief sentinel, who was an upper classman at room 209 of the PMA’s Mayo Hall Annex at around 3:40 a.m on Wednesday.

The report said that the relief sentinel immediately informed 2nd Class Neckiel B. Termil, the squad leader of Dormitorio who, in turn,

notified a cadet by the surname of Lucas, the Echo company commander.

Both ordered the relief sentinel to call for the academy’s ambulance, which arrived at 3:55 a.m. and took Dormitorio to Fort Del Pilar Station Hospital within five minutes.

“Upon arrival at the emergency room, 4CL Dormitorio was attended to by the Medical Officer of the Day [MOD], Cpt. Flor Apple A. Apostol.

The MOD was then assisted by Maj. Beloy in executing medical procedures to revive the unconscious 4CL cadet,” the report said.

“On or about 18 0515 September 2019, 4CL Dormitorio was declared dead by the MOD,” it added, indicating “initial findings for the cause of

death: cardiac arrest secondary to internal hemorrhage.”

According to the report, the commandant of cadets ordered the restrictive confinement of the “upperclass and 4CL squadmates” of Dormitorio and are now undergoing investigation.

The Mayo Hall had also been cordoned off and “declared off-limits and considered a crime scene.”

Evangelista said the public should wait for the results of the investigation before concluding that Dormitorio’s death was related to hazing, a practice that military officials said no longer exist and had been disavowed at the country’s premier military institution for years.

Telco underscores need for education and legislation to curb ‘massive’ piracy

By Lorenz S. Marasigan @lorenzmarasigan

G

LOBE Telecom Inc. underscored the need for intensified efforts on education and legislation to help curb piracy in the Philippines, as illegal consumption of content has already massively migrated to the digital arena.

In a news statement, Globe Vice President for Content Portfolio and Partner Management Jill Go said the Philippines lack “real regulations” that prevent piracy, stressing that this supposed dearth in policy is “one of the major reasons why online piracy continues to be a problem in the country.”

Telco networks, she said, have become conduits of piracy. For instance, she said in Globe’s network alone, the almost a fifth of its data traffic growth in 2018 accounted for illegal video streaming or downloads.

“That in itself, if you think about that in terms of petabytes, is already huge. This is theft that’s actually going around unchecked because there are no regulatory teeth to actually put them behind bars,” she said.

According to the Asia Video Industry Association, 34 percent of Filipino online consumers use an “illicit streaming service,” which is essentially a media player that allows users to watch movies and television shows illegally.

Go said the lack of regulations curbing the illegal consumption of content online is the reason why Globe partnered with content service providers, which provide consumers with legal options for content consumption.

This, she noted, is not enough to stop piracy.

Most Filipinos either migrated to other cities or abroad–survey

By Samuel P. Medenilla

Editor: Vittorio V. Vitug • Friday, September 20, 2019 A3

pine Development Plan].... Hopefully it will inform the discussion we are having for this PDP review,” Cancio said.

Department of Foreign Affairs (DFA) Office of Migrant Workers Affairs Executive Director Enrico T. Fos agreed with Cancio on the importance of the NMS especially now that Congress in pushing for the creation of a new department to specifically serve the needs of Filipinos abroad.

“The purpose [of the new department] is just to focus our services [for Filipinos overseas]. So if you do a focusing work, you really need this evidence, otherwise, our focusing will be just wasted. So the timing for this survey to come out is really great,” Fos said.

Local government applications LIKEWISE, Commission on Population and Development Project Evaluation Officer Rolagenia G. Reyes said the NMS will play a crucial role in their intervention for providing local government units manage their migration flows.

“Globe Telecom sees it as a responsibility to help shape the regulations in terms of creating rules, or laws, that can really put into place some teeth in terms of curbing piracy,” Go said.

The company earlier announced its support for the Philippine Online Infringement Bill, a proposed legislation that will enable the National Telecommunications Commission to cancel the licenses of Internet service providers that allow web sites to facilitate the infringement of copyright.

Aside from this, Go said, her group also views education as a necessity to stop piracy. “[We are working on] customer awareness in terms of what perils illegal content consumption brings to you, whether it is identity theft, malware, and sorts of security risks,” Go said. “But it is also bringing to mind the consciousness that you’re actually stealing from the livelihood of countless of individuals behind the creative industry in terms of moviemaking or whether it’s short term or long term.”

Go said Globe is hoping that it can eliminate the consumer’s need to avail content illegally by continuing to give consumers “unprecedented content experience” through its local and foreign content partners. “[We hope for a] good merger between the regulatory, corporate, and also the partnerships so that we can provide a very good end to end customer experience [and also] put forward a very savvy corporate social responsibility to enforce legal use of content,” Go added.

A4 Friday, September 20, 2019 • Editor: Vittorio V. Vitug

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3-year safeguard measure on cement imports set, PHL tells WTO

By Elijah Felice E. Rosales @alyasjah

T

HE Philippines has informed the World Trade Organization (WTO) about its decision to impose a three-year safeguard measure on cement seen to hurt some of the country’s largest trading partners, including China and Thailand.

In a communication dated

September 12, the Philippines notified the WTO of its move to apply a definitive safeguard measure on cement. It argued the increased imports between 2016 and 2018, as well as the continuous rise this year has seriously injured the domestic industry.

It added there was a significant decline in the overall position of local manufacturers during the period of the import surge.

“Based on import data from 2013 to 2018, the surge in imports of cement [Type I and Type IP] commenced in 2016. The increase in volume of imports in 2016 was recent, sudden, sharp and more importantly was of such magnitude which can be considered significant,” read the letter, which was transmitted to the WTO’s Committee of Safeguards.

As such, the Philippines said it de-

cided to apply a definitive safeguard measure in the amount of P250 per metric ton, or P10 per 40 kilogram bag, for the first year; P225 per MT, or P9 per bag, for the second year; and P200 per MT, or P8 per bag, for the third year.

Manila assured the Genevabased WTO it would regularly review the impact of the safeguard.

The review should give the Department of Trade and Industry (DTI)

the opportunity to modify the amount of the duty if necessary.

According to the Philippines, the safeguard measure will mainly impact Vietnam, China, Taiwan and Thailand, which are heavy exporters of cement to the country.

Based on data from the DTI, imports of cement grew to nearly 300,000 MT in 2015, and spiked to 1.7 million MT in 2016, a close to sixfold increase from the prior

year’s level. In 2017 imports expanded by another 77 percent and peaked at 4.6 million MT in 2018, which was the highest over the period of investigation.

The DTI’s applied rate is lower than the recommended duty of P297 per MT, or P12 per bag, of the Tariff Commission, which investigated for over half a year the merits of imposing a definitive safeguard measure on cement.

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Friday, September 20, 2019 A5

Solons revive push to set up fuel reserves to avert shocks

By Jovee Marie N. Dela Cruz @joveemarie

L

AWMAKERS are pushing for a congressional measure that could pave the way for the establishment of a strategic fuel reserve following the drone attack on two major oil facilities of the staterun Saudi Aramco last Saturday in Saudi Arabia.

Deputy Speaker Luis Raymund Villafuerte Jr. said the latest upside risk to oil prices underscores the need for the Philippines to put up its own stockpile reserve at the soonest as a way for government to stabilize domestic supply and prices in emergencies, and avoid squandering President Duterte’s gains in containing inflation.

Villafuerte agreed with Energy

Secretary Alfonso Cusi that the country needs a strategic oil reserve so the government can be part of the oil supply chain and have the capability to ease the impact of volatile oil prices on consumers by ensuring a stable fuel supply in the market.

He said the government should study thoroughly what method of oil stockpiling would be best for the country, the logistical requirements involved, and whether crude oil or oil products should be stored.

The lawmaker recalled that when oil prices fell way back in the first quarter of 2016, the Department of Energy (DOE) had already considered stockpiling oil for future use. Initial estimates, however, showed that it would cost a staggering P300 billion a year to carry out this plan.

When the Philippine National Oil Co. (PNOC) also considered this plan earlier than 2016, the cost was estimated at P2.4 billion for 50 million liters of diesel fuel alone.

“We agree with Secretary Cusi that we should eschew complacency despite assurances by Saudi Aramco that its output will be back to normal soon enough, and take more decisive measures to stabilize supply and prevent unscrupulous petroleum industry players from taking advantage of any volatility in global oil prices in the future,” Villafuerte said in a news statement.

“Given the adverse impact of any oil price surge on the cost of basic commodities and on transport fares, the government must take all necessary measures, including putting up its own oil reserves,

Marina, DENR tie-up seeks to control impact of ballast water spill from sea-going vessels

By Lorenz S. Marasigan

T

@lorenzmarasigan

HE government is reinforcing efforts to effectively manage ballast water in the domestic shipping sector to lessen the environmental impact of the industry in the Philippine seas.

Maritime Industry Authority (Marina) Shipyards Regulation Service Director Ramon C. Hernandez said the role of the shipping sector in the transportation industry for an archipelagic country like the Philippines is huge, but the ballast tanks of ships have caused a negative impact on the marine environment.

Ballast tanks are compartments within ships that hold water to improve their stability, structural integrity and navigational safety.

“When water is loaded into the ships, various biological materials such as plants and bacteria are sucked up into their ballast tanks. When the water

has to be unloaded back to the sea, these biological materials are introduced in a new environment and become invasive, which causes damage to aquatic ecosystems,” Hernandez explained.

Hence, the International Maritime Organization (IMO) enforced a Ballast Water Management (BWM) Convention in 2017. The Philippines ratified it a year after.

Currently, Hernandez said, Marina and the Department of Environment and Natural Resources (DENR) Biodiversity Management Bureau are “finalizing the rules and regulations” of the convention “to control the transfer of invasive aquatic species by ships, as well as to fully and effectively implement the international convention for the control and management of ships’ ballast water and sediments.”

“The country’s strategic action plan on the BWM, on the other hand, is undergoing further study and consultation,” he added.

to prevent runaway inflation and preserve the gains that President Duterte has achieved in containing the steep rise in commodity prices last year,” he said.

According to the DOE web site, the department only requires oil companies to maintain a minimum inventory requirement (MIR) of in-country stocks equivalent to 30 days of crude and products for refiners, 15 days of products for importers/bulk suppliers and seven days of liquefied petroleum gas stocks for LPG players.

Villafuerte, citing reports, said Saudi Arabia plans to draw from its big oil inventories to keep current supplies to its customers at normal levels and expects to restore its production to full capacity by end-September.

He said estimates show that Saudi Arabia’s oil output would be cut by 5.7 million barrels per day, or more than 5 percent of global oil supply, following the attack on two of Saudi Aramco’s oil fields.

For his part, 1-Pacman Rep. Michael Romero filed House Bill 4689 establishing Philippine strategic fuel reserves.

“A national strategic fuel reserve will enable the government to protect Filipino consumers from the shocks of price hikes of crude oil in the world market, and resulting rate increases of public utilities and fuel at the gasoline stations, as well as supply disruption results from natural disasters and calamities,” he said.

“While the bill goes through the legislative process, I suggest that the Department of Energy, or the Energy

Regulatory Commission, require the current oil firms to increase their mandatory fuel buffer from current levels to 30 days,” Romero added.

Romero also noted that the idea of strategic fuel reserves has been studied by the energy departments of the Asean member-countries for some years now.

In this bill, the core of the Strategic Fuel Reserves System of the Philippines shall be made up of all government-owned, operated, or controlled stockpiles and facilities, including all fuel stations of all departments in the Executive branch, the Armed Forces of the Philippines, the Philippine National Police, other armed and uniformed services, the Philippine Ports Authority, other port authorities and free ports.

BCDA highlights speedy completion of Clark sports complex in meeting with ADB Board

By Ashley Manabat | Correspondent

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LARK FREEPORT—The speedy construction of the New Clark City (NCC) sports complex was presented by the Bases Conversion and Development Authority (BCDA) at the recent Asian Development Bank’s (ADB) Board and Management Retreat held at the Clark Marriott Hotel here recently.

“The world-class NCC sports complex was constructed within 18 months and just in time for the Philippines’s hosting of the 30th Southeast Asian [SEA] Games,”BCDA President and Chief Executive Officer Vince Dizon said as he showcased the progress at the NCC Phase 1.

He added that such progress “can be attributed to the Duterte admin-

istration’s exceptional leadership of getting things done fast.”

Envisioned to be a training hub of national athletes, the NCC features the 20,000-seater Athletics Stadium, the 2,000-seater Aquatics Center, an Athletes’ Village complete with housing amenities and a 1.4- kilometer River Park Corridor that will provide recreational spaces for residents.

“The value proposition of NCC is that it’s well-planned and, hopefully, with the continued momentum of what President Duterte has started [would] not fall into the trap of urban centers throughout the world. You will have a very livable city where there’s generous green spaces and efficient public transport system,” Dizon said.

Other sustainable pioneer developments at NCC include the 288-hectare Filinvest multi-gen metropolis that will adopt a “live, learn, work and play” environment, as well as the 500-hectare mixed-use industrial park, in partnership with Gezhouba of China.

The National Government Administrative Center (NGAC) is also gaining traction from government institutions such as the Supreme Court of the Philippines, which will establish a 5.8-hectare Judiciary Complex, and the Bangko Sentral ng Pilipinas which will transfer its 29.22-hectare currency production facility at NCC. Set to emerge as the next major gateway, the Clark International Airport will open a new terminal next year that will triple passenger capacity to 12 million annually.

A6

Friday, September 20, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial Oil and pork

I

T has been a difficult week for the Philippines. First, oil problems; and now pig problems.

We wrote on the last day of May in our editorial “Avoiding the ‘Aporkalypse’” that “it is absolutely critical that the Philippine government take a zero-tolerance approach with its policies to ensure that the disease does not reach our shores.” That certainly did not work out very well. However, there is some talk that the African swine fever has been in the pig population since March.

Nonetheless, it is a little late in the game to worry about who did what or did not do what was necessary to avoid this situation. By the same token, the government should have taken steps 30 years ago to exploit oil reserves in the West Philippine Sea, but that also is another story.

Someone asked what the country can do to reduce oil consumption. A good question, to which there are only bad answers. Using whale oil for lights is probably not going to work. Putting carabao carts on Edsa might help the traffic situation, but we are told that “bovine flatulence” may be a cause of climate change. Modern humans always seem to be caught between a rock and a hard place.

Under normal circumstances—and it seems nothing is normal nowadays—we might expect to see the price of pork go down as people tune to chicken and other protein sources.

However, in this case, if the Philippines is forced to cull the swine population as has been done in China and Vietnam, a reduction in pork consumption is not going to stop supply problem price increases.

Of much greater concern are the longer-term effects of both situations. While Saudi Arabia has said that their oil production will be restored to a great extent by the end of the month, that does not change the tense and fluid situation in the Middle East. Also, this is not a problem isolated to the Philippines. If oil supplies are reduced globally, every nation is going to be scrambling to get oil and we are not exactly at the front of the line.

Also, we are going into the holiday season, which is very important to the economy, as Christmas shopping is critical for the profit picture of our consumer retail sector.

Being business oriented, we keep our eyes on the bigger picture of company revenues and profits and the smaller picture of the local stock market. These two are helpful clues as to the health of the economy. Two domestic factors have changed over the past few months for the positive. The inflation rate is way down and interest rates have been lowered.

Yet, neither has had a significant positive impact on corporate earnings, economic growth, or the stock market. That is not a good sign for the future.

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Sonny M. Angara

BETTER DAYS

P

HILIPPINE history is not lacking in stories of heroes who fought bravely for our country. From the Spanish era until today, we have Filipinos who resisted oppression, fought for freedom, and, in many cases, died for their cause.

Ironically, in today’s Information Age, it appears younger generations do not know much about our national heroes, let alone the stories of our modern-day heroes. We have relatively few media materials about our national heroes, aside from the occasional film dramatization or short TV series. If the reverse were true, then our people—specifically the youth—would know much more about them and their actions and it would be more likely that they would have instilled in them a greater sense of patriotism and love for our country.

The Philippine Veterans Affairs Office (PVAO) under the Department of National Defense seeks to address this very issue. Aside from taking care of veterans’ benefits, and empowering them, they also seek to memorialize the heroic deeds of our veterans and, in turn, motivate future defenders of the country. To this end, they have undertaken the Love of Country Builders program, which is involved in the construction of

shrines and other facilities, the commemoration of historical events, and the publication of books and articles about our heroic veterans.

In a budget briefing with the DND and other attached agencies, such as the PVAO, I brought up the possibility of creating documentary films and other similar materials about our heroes, not only those from the Spanish era, but also those from more recent times.

Patriotic films and documentaries are a part of our history. During the First Golden Age of Philippine Cinema in the 1940s and 1950s, movies were made of the exploits of heroes, such as Diego Silang in 1951, Dagohoy in 1953, and Lapu-Lapu in 1955. At present, we have movies that feature Gregorio del Pilar, Jose Rizal, Emilio Aguinaldo, Andres Bonifacio, and, of course, Antonio Luna.

However, my observation, which I shared with officials from the PVAO, is that these movies lean more toward dramatization. Indeed, a good part of

the movie Heneral Luna, was devoted to his romantic life. While it is good to see our heroes fleshed out, what we need to see is what made them heroes, and what they did for their mother country.

There are also two other concerns in connection with this subject. The first is that many copies of the older movies about our heroes have been lost, are hard to find, or are inaccessible for whatever reason. The second is that, while we have many historical references from the Spanish era, the same cannot be said for the Second World War. Thankfully, information is now being collected from that time.

For example, we have the story of Captain Jose Cabalfin Calugas Sr. who was born in Leon, Iloilo.

He enlisted to serve the Philippine Scouts of the US Army in 1930, and was eventually assigned to the 88th Field Artillery Battalion. A few days after the attack of Pearl Harbor, the 88th Battalion moved to Hermosa in Bataan, and by early January, the 88th was supporting the 31st US Infantry in defending their position at Layac Junction in Dinalupihan.

On January 6, 1942, Calugas voluntarily ran a thousand yards across open terrain, without orders, to man a 75mm cannon. There, he organized a squad to effectively suppress the enemy, even while under heavy artillery fire. He destroyed 60 advancing vehicles. For his actions that went above and beyond the call of duty, the President of the United States in the name of the US Congress awarded Calugas the Medal of Honor—the

Assert righteousness in governance

Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Creative Director Chief Photographer

Remembering our heroes in the digital age

Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

B

ROTHERS and sisters, “When justice is done, it brings joy to the righteous, but terror to evildoers.” We are reminded of these words from the book of Proverbs 21:15 the importance of asserting righteousness and justice in our society.

How do we see this in President Duterte’s continuous faith in the former chief of the Bureau of Corrections, Nicanor Faeldon? The President believes Mr. Faeldon is a “straight-edge man”, after all the controversies the former BuCor chief is facing because of the release of convicted illegal-drug traffickers, murderers and rapists. Mr. Faeldon said he merely followed Republic Act 10592, or the good conduct time allowance or GCTA law. But during a Senate hearing, the alleged selling of freedom occurred during the implementation of the GCTA law.

Although the law bodes good intentions, BuCor officials under the leadership of Mr. Faeldon abused it. We will wait for the outcome of the Senate hearing in order to know who are responsible for these treacherous actions.

President Duterte always says that he is angry at traitor officials in government, and he has taken many of them out of office even if some have only been involved according to hearsay. But President Duterte seems to completely believe in Mr. Faeldon, even if he has been involved in controversies.

Let us remember that he was the Bureau of Customs chief when P6.4 billion worth of shabu entered the country from China. Because of the noise generated by the controversial GCTA, President Duterte will no longer appoint Mr. Faeldon— not because he no longer trust him but because Mr. Faeldon got an offer from a private company.

The Duterte administration is always criticized for its alleged recycling of officials taken out of office due to treason. First, it’s unclear whether their dismissals followed due process. Second, even if these officials have been stained by doubt, they are continuously placed in different agencies of the government as if there’s no one else able to do the job given to them. Is “trust” enough for the President? But if “trust” is the only basis to serve in government, how are we sure “when justice is done...evildoers will fear?”

The Social Teachings of the Church teaches us that justice is a gift of what is rightfully for God and man. This focuses on sustaining our relationship with God and our fellowmen. This means the propagation of

highest possible military decoration given to US servicemen.

At the very least, Calugas’s story of bravery deserves a short documentary. Even better, efforts should be undertaken to produce an entire documentary series on many unsung Filipino heroes—covering the Spanish period to the Second World War, even up to the present day to possibly include those who defended the nation during the Marawi seige.

These documentaries could reach a wider audience via online streaming services, such as Netflix or YouTube. Hopefully, such digital media will help immortalize our heroes in a new way, putting them firmly in our national psyche once again.

In this new age, our heroes are all the more important. Our reverence for them should not only be about their triumphs and extraordinary feats, but also about their collective passion, determination, and love for their country and their fellow Filipinos.

We should support the PVAO and their Love of Country Builders’ program, under which documentaries about our heroes, then and now, should be created and produced. Such stories will never go out of style—and should be available at our fingertips.

Sen. Sonny Angara has been in public service for 15 years—nine years as representative of the Lone District of Aurora, and six as senator. He has authored and sponsored more than 200 laws. He recently won another term in the Senate.

E-mail: sensonnyangara@yahoo.com|Facebook, Twitter and Instagram: @sonnyangara.

justice is about righting the wrongs and holding those sinners responsible, and in this way, the common good is done. In conclusion, the loss of justice and righteousness are obstacles against having proper governance and propagating the common good.

Whatever President Duterte sees in Mr. Faeldon and the others taken out of office only to be appointed back, it is important to know the truth in the issues thrown against them to prevent the same misdeeds. Above all else, President Duterte must demand an explanation, hold them accountable, and correct all the wrongs.

Brothers and sisters, advocating justice is only one part of the moral aspects of leadership. Government officials are supposed to be examples of embodying justice.

Because, like what Saint Augustine said, governance without justice is an organized crime.

Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph and follow its Twitter and Instagram accounts @veritasph and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

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Thinking beyond a mass transit system to solve traffic

‘Living with a Dead Language’ Tito Genova Valiente

ANNOTATIONS

Victor S. Venida, PhD

EAGLE WATCH Part One

T

HE massive traffic jams all over Metro Manila have resulted in calls for the development of an effective mass transit system. This is supposed to encourage a shift to public transport use to reduce the need of many to take their own private cars to and from their places of work. This is supposed to reduce the volume of vehicles, and thus, improve and speed up traffic flow. This would seem to be truly urgent as the population of Metro Manila will still increase, from an estimated 13.9 million this year to about 18.7 million in 2035—and this does not include the millions in the nearby towns and cities of Bulacan, Rizal, Cavite and Laguna who may live in those places but have work inside the National Capital Region, and thus add to the volume of traffic in the metropolis. Thus, the urgency for a rail-based mass transit system is now widely accepted.

There are, however, other factors to consider when one is thinking of long-term solutions to the traffic “problem” of Metro Manila (and even Cebu and Davao). One truly vital issue is that of land-use. The massive volume of traffic on the roads and trains to the business districts of Makati, BGC and Ortigas highlight the fact that millions who work there daily have residences far away. This is true even for the highly paid executives who live in Greenhills, Ayala Heights, Valle Verde, Ayala Alabang and all other high-income residential areas outside of the business districts. Many high-end residential condominium developments in these business districts emphasize the fact that offices, malls and some schools are within walking distance of the proposed developments. But for the majority with more modest incomes, these options are not available.

One reason for the high cost of land is the lack of space. And a substantial reason for the lack of space in the business districts is that they are surrounded by large areas of single-use, low-density residential developments, like Urdaneta, San Lorenzo, Bel-Air, Forbes Park, Dasmariñas in Makati; Greenhills, Wack Wack, Valle Verde, Kapitolyo, among others around the Ortigas business district. These areas are covered by density and use restrictions.

In contrast, in the borough of Manhattan in New York City, nearly all buildings are high density and mixed use, except in the declared heritage districts near the Downtown area, such as Greenwich Village, Tribeca, SoHo and the East Village, where many buildings still reach four to six floors. The entire borough is mixed use. This means that the upper floor of many residential buildings are residences, but the ground floors are commercial.

There would be schools, hospitals, religious centers and office buildings not far away. This means that it would be possible for many to just walk on a daily basis from one’s home to the workplace, to school, to church, and there are many small neighborhood parks that one can also walk to. For many who would need to ride to their place of work, often it would take just a short ride by bus or subway. The need for a private car of one’s daily travel to and from the office is, thus, diminished.

Admittedly, a lot of those who can afford to live in Manhattan belong to the upper income classes. But they also happen to be the ones who could afford to own and ride

cars daily, but they would not because of the proximity of workplaces near their residences (this is apart from the high cost of parking lots and spaces which are a deliberate policy to discourage the use of cars in the borough). Thus, traffic jams are limited mainly to the rush hours in the morning and evening.

Something similar here would require that these large areas in Makati, Pasig and Mandaluyong would be rezoned for higher-density, mixed-use developments. There would be, of course, condominium developments for the high-income, where each unit is quite large, with several rooms, with common facilities for leisure, such as a mini country club and private garden. But as high-rise constructions, these would not need a large land area. More of the lots can be used to construct high-rise residential buildings with more modest sized units affordable to the middle-income and even lower-income classes. Space can also be provided for public gardens, schools, churches, community centers and health units. Commercial spaces can be assigned to the ground floor of these residential buildings. And the roads can be designed so that public buses can move around to provide for transport access for those whose place of work are a bit of a distance.

A rezoned Makati, Mandaluyong, Pasig and San Juan would mean more residents here, including those who are currently living in the other cities as there would be more options for affordable housing near the business districts, with schools, parks, commercial areas nearby. This would greatly reduce the demand for daily travel from long distances as more can live nearer the places of work. It would also improve community health and well-being as more and more would need to be walking everyday.

This could then substantially reduce vehicular traffic on the streets and in fact improve the quality of life in the metropolis. But this would require conscious, deliberate urban planning. It involves not just traffic management, but rezoning of districts, and design guidelines for buildings, and strict provision for parks, open spaces, wide sidewalks and pedestrian lanes. As of now, the Metro Manila Development Authority is not designed for this.

To be continued The author is a professor at the Department of Economics, Ateneo de Manila University.

A

NN PATTY was a book editor in New York for many years until she moved to the country and there discovered her love for Latin.

She not only loved the language that is considered by many to be “dead,” she studied it.

The days of coping and, what I sense to be struggles and later happiness with Latin is in her book, Living with a Dead Language.

I have been reading the book and living with Patty’s view of Latin. It is, I must confess, a facile incursion into a difficult language. I do not think, at this moment, I will ever find myself tired of the city that I will finally reside in my smaller, old city, and then, one day, study Latin.

What I can promise to myself is how I will always reside in words. In the case of Patty, she always collected words. This act was not only being familiar with a word, using it in a sentence and memorizing it. For her, to collect words is to put them within the kinship system of other words.

I can almost see myself in Patty and, this time, I am collecting the word “awesome.” It is a word that can carry you from the comfort zone of morning conversation to dark cocktail whispers, from being in awe of a religious ritual to being shocked at the sight of a leader with an ugly face, an ugly heart and an awesome lack of logic. In other words, an awesome evil.

The book also led me to accept one thing: languages never die, they just wait for humans to be interested in them again.

Chapter 1 of the book starts with two quotations: Cato the Elder and Umberto Eco. To the former is attributed the quotation Rem tene verbo sequentur (Grasp the topic, the words will follow); to the latter is ascribed these lines: Verbe tene, res sequentur.

Talk about attribution and ascription and their Latin roots!

And what are we as writers: do we merely string words or do we tackle in our mind a topic first before we proceed to writing? Cato, the first to write history in Latin, and Eco, the Italian semiotician, offer two related but differing options.

In Naga, as we celebrate the long Peñafrancia celebration, a Marian feast to honor Our Lady of Peñafrancia, we describe it as a weeklong celebration. In fact, it is a festival built around the novena, a word from novem, which means “nine.” With many activities gracing the fiesta, a launching of a new Bikol dictionary was one of those I was privileged to attend. In that gathering of wordlovers, the conversation drifted to the word pag-oktaba, a Bikol word understood as “to postpone.” The

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N some ways President Donald J. Trump’s new national security adviser, Robert O’Brien, seems like the opposite of the man he will replace, John Bolton.

His current job in government is special envoy for hostage affairs, meaning he has had to negotiate with the sorts of rogues Bolton shunned. Last year he

helped bring home the American pastor Andrew Brunson, who was imprisoned by the Turkish government. Earlier this year he negotiated the release of US citizen Danny Burch from Yemen. In April he said that a necessary (though insufficient) step for Syria to rejoin the international community would be for it to help find and free the journalist Austin Tice.

O’Brien’s personal style—quiet and lawyerly—also differs from Bolton’s

word, even for the wholly uninitiated into etymology, would sound as if coming from another world of words. It does come from octava, which means “eight.” This explains the counting of days from the time the Virgin is brought by voyadores to the Naga Metropolitan Cathedral on the second Friday of September to the afternoon of the third Saturday of September and include the Sunday, which is the culmination of the fiesta and that amount to nine days. Novena.

It will be of interest to those who have time to be Latinist that in Bikol we are in perpetual debates about the words we have borrowed from other languages, Spanish in particular. To digress, I am always appalled how many Manileños would refer to our local sausages as langgonisa, instead of the proper longganisa. My appreciation for blooms perish when I encounter in the big city men and women rhapsodizing about bonggavilla, instead of the vibrato-enriched “Bougainvillae.” But this we must admit: No one can tell though which is more Bongga of the two references to the same flora.

It does help (or it does not help) that the Internet provides an unfettered, if not wild, arena of debate and word-slinging.

Take this question: Who has the right to carry the Virgin of Peñafrancia? For those who have attended the regional Marian festival, only men are allowed to carry or push her globelike carroza. And yet, the question is not any more about gender than it is about language.

There are those who believe that voyadores or boyadores can come from “rover.” The men, therefore, during the land procession, are part of the

‘Proposed divorce law is pro-marriage, pro-family and pro-children’ Manny F. Dooc

TELLTALES

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HY would somebody steal a toilet bowl particularly when it was used by more than 100,000 people while it was put on display in a cubicle in New York? Well, it’s not a brain twister if the item is an 18-karat gold toilet with a value of more than $5 million. Burglars had broken into Blenheim Palace where the golden toilet was on exhibit in the palace, which is a major tourist attraction in the suburbs of London.

The toilet was once offered to President Donald J. Trump for his personal use in the White House during his presidency but he declined it.

It was clearly a missed opportunity for Trump to compose his tweets while perched on the golden throne to match his obnoxious language.

Blenheim Palace is the birthplace of former Prime Minister Winston Churchill. The three-century old palace was a gift to Sir John Churchill, the hero of the Battle of Blenheim, for his loyal service to the Crown and military triumps. Sir John was installed as the first Duke of Marlborough. If his famous great descendant Prime Minister Winston were alive, we could only surmise what colorful invectives he would have issued against the perpetrators of the despicable crime committed right inside his ancestral house. Or he could have

just dismissed it as a toilet humor.

In the Philippines, the counterpart of the golden toilet is the story about the “Golden Orinola.” There’s an apocryphal story that the late President Elpidio Quirino had a “Golden Orinola” in the Malacañang Palace. It was one of the alleged ostentatious display of presidential vanity and corruption peddled by Quirino’s political enemies. This was not, however, proven. A golden Buddha, which was bruited to be a part of the treasures of Yamashita, haunted another Ilocano president, but that is another story. nnn

THE Senate made history when it conducted the first ever hearing on the controversial divorce bill attended by several resource persons who had their own personal stories to tell regarding their harrowing

Trump’s replacement for Bolton is also a hawk

By Eli Lake Bloomberg Opinion

Friday, September 20, 2019

pugnacity. A senior administration official told me that O’Brien pitched himself to the president and his top advisers as someone who would make the National Security Council functional again and largely keep his head down. Sec. of State Mike Pompeo, who was Bolton’s biggest rival in Trump’s cabinet, endorsed him for the post because of his understated approach.

But O’Brien’s low-key style should not be confused with softness on

foreign policy. Trump disagreed with Bolton on Iran, Afghanistan and North Korea. His new national security adviser has a long history of conventional Republican Party hawkishness on all of those issues.

He advised Mitt Romney’s 2012 presidential campaign, and in 2016 worked with Gov. Scott Walker and Sen. Ted Cruz.

And way back in 2005, the so-called anti-Bolton worked for the man himself

and bitter relationships with their partners. Sen. Risa Hontiveros, chairman of the Committee on Women, Children, Family Relations and Gender Equality argued that making the dissolution of marriage available to all Filipinos who want a second chance to start all over again “protects children from abuse and rebuilds broken families.”

The aggrieved spouse also deserves a second chance, not just the repentant prisoners who can get an early release from imprisonment.

The difference is that a prisoner is given a second chance on the basis of his good conduct, while an abused spouse will be released on the bad conduct of the partner. Hontiveros also claims that the proposed divorce law is pro-marriage, profamily and pro-children. Wait until we hear from the other side.

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journey of the Virgins. But there are those who support the idea that the word is taken from bogadores (literally, loaders) or those who bear the image.

The land procession itself is often the site of errors. Called Traslacion, which means “to move something,” there are contemporary accounts which use the term Translacion. The latter sounds Spanish and it seems to be the equivalent of the English word, translation. In Spanish, for those who still bear the imprint of a 24-unit Spanish language from the old curriculum, the word for translation is traduccion. The command form of that word, when uttered by usually the strictest professor, could strike terror in the heart of any student of that era.

But think of it this way, isn’t the ritual, which brings an Icon from Her shrine to a big church a translation— a movement of a belief system from one location to another? Or, is not the belief itself in an image that is now called Ina or Mother a result of an idea translated by the “natives” as aided by the most astute of conquering missionaries?

As the book, Living with a Dead Language, progresses, its third chapter is introduced by a non-Latin author, Czeslaw Milosz. The PolishAmerican poet who was the Nobel Laureate for Literature in 1980 says “language is the only homeland.”

I am filled with a sense of guilt as I am leaving the city before the Virgin has traveled back via the river to her home. Is it because I leave not only a home but also a language or have the colonizers been that efficient in translating myself into their own image and grand likeness?

E-mail: titovaliente@yahoo.com

invalid and unconstitutional. A law was passed criminalizing the practice. It is believed that by abolishing the threat of instant divorce, Indian women will be empowered and emboldened to fight against abuses and threats from their husbands. It will promote gender equality and justice.

In a recent case, the Philippine Supreme Court ruled that a Muslim man can divorce his wife through talaq since Muslim marriages are covered by the Muslim Code. The Code allows a single repudiation made during the non-menstrual period of the wife when he abstains from having sex with her. nnn

MANY Islamic countries still practice talaq where their men can divorce their wives by pronouncing the word talaq three times. The declaration can be made orally, in writing or via electronic means.

The Muslim husband can repudiate his wife unilaterally and effect a divorce instantly between them.

It is a practice recognized by their law. However, in some countries that are predominantly Islamic or with Muslim minorities like in India, the talaq practice has been declared illegal under a new law. In a landmark decision in 2017, the Supreme Court of India declared the practice as

THE marriage contract is a lifetime sentence, like committing a heinous crime. Except for very limited grounds, it is hardly possible to have a marriage dissolved. Later in marriage, the pledge, “Till death do us part” is a self-imposed penalty that will haunt many couples. Remember this joke? Pedro was sulking in his favorite sofa. His wife approached him and asked: “Why are you sad, Honey?” And Pedro replied: “Do you remember 15 years ago when we were making love in your room and your father caught us with his shotgun pointed at me?” The wife answered, “Yes, I do. Father was so mad that he threatened to sue you for molesting a minor and put you in jail for 15 years unless you marry me.” Pedro, almost sobbing, said, “Do you know that today I would have been a free man.”

when Bolton was US ambassador to the United Nations.

To get a flavor for O’Brien’s worldview, it’s worth picking up a collection of his essays published in 2016. The title gives a good indication of what’s inside: While America Slept: Restoring American Leadership to a World in Crisis.

Bolton himself blurbed the book, saying it should be “required reading” for all 2016 presidential candidates.

It’s easy to see why Bolton liked it.

O’Brien’s essay on the 2015 Iran nuclear deal is titled, “Obama’s Folly.” In the preface, he writes about his experience in Afghanistan when “some young Afghan patriots, who chose to side with us after the 9/11 attacks, asked me if we would abandon their country as we had abandoned Iraq.” O’Brien identifies “Russian aggression” as one of the primary threats Obama’s successor must address to restore US leadership in the world.

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Unbribable AI may stop prison shenanigans

By Butch Fernandez

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@butchfBM

F a succession of chiefs cannot wipe out corruption in the national penitentiary, it may be time to call in the unbribable— artificial intelligence (AI) enabling digital systems to track movements of everyone in a prison rocked by scandal.

That’s the pitch made by one of the country’s former top police sleuths, retired Gen. Benjamin Magalong, as he testified at the Senate inquiry into the latest prison scams, chiefly the premature release of heinouscrime convicts via padded credits—obtained for a fee—under the expanded good conduct time allowance (GCTA) law.

Magalong, the former chief of the National Police’s Criminal Investigation and Detection Group (CIDG) who had once planned a

“With digital governance, you have all these —what we call AI cameras, AI technology that features analytics. These are analyses of quantitative and qualitative data.”

—Magalong

major raid on the New Bilibid Prison (NBP)to ferret out drug lords doing trade even behind bars, suggested that authorities tasked to carry out prison reforms should include an “organizational and management

audit” to pinpoint the problem in the organization. Then, he said, policy-makers should provide the Bureau of Corrections (BuCor) the wherewithal—his estimate is P300 million at least—to acquire technology digitizing operations and rendering them bribe-free.

Senators at the hearing responded positively to Magalong’s suggestion, with Minority Leader Franklin M. Drilon saying he will back a move by the Justice department, if it so decides, to include the “digital governance” rerquirements

in its 2020 budget.

Magalong told senators at the sixth joint hearing led by the Committee on Justice and Human Rights chaired by Sen. Richard Gordon, “After that, sir, let us again place someone who is really strong in terms of leadership, in terms of integrity. And finally, provide them the tools sir.”

“The CCTV, the [signal] jammer —those are no longer enough. The CCTVs installed there are traditional CCTVs, they only provide visual.

See “AI,” A2

‘EO on meat transport needed’ Piñol bats

By Cai U. Ordinario @caiordinario

& Jasper Emmanuel Y. Arcalas

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@jearcalas

EAT processors have asked President Duterte to issue an executive order (EO) endorsing unified guidelines on the transport of processed meat following the decision of local government units (LGUs) to slap a total ban on these products.

The Philippine Association of Meat Processors Inc. (Pampi) said Bohol and Cebu slapped a 90-day and 100-day total ban, respectively, on processed meat products from Luzon after two provinces in the island were struck by African

TROPICAL DEPRESSION “NIMFA” ESTIMATED AT 730 KM EAST NORTHEAST OF BASCO, BATANES SOUTHWEST MONSOON AFFECTING CENTRAL AND SOUTHERN LUZON as of 4:00 pm - September 19, 2019

swine fever (ASF).

“In Bohol, some local government units are threatening to burn the deliveries of processed meat products,” Pampi Spokesman Rex Agarrado told the BusinessMirror via phone interview on Thursday.

Agarrado also said some LGUs had imposed a conditional ban on meat products from Luzon. He said the refusal of LGUs to allow porkrelated products from Luzon could affect fast-food chains that require these food items.

“The ban covers pork-based meat products, such as tocino, longganisa and bacon. Some fastfood restaurants have confirmed that their breakfast sausage is no longer available as of [Thursday]

morning,” he said.

Agarrado said Pampi members, including the big players like San Miguel Food and Beverage, account for about two to four weeks of inventory in Bohol and Cebu.

MULTILEVEL MARKETING for ASF SCAMS TARGET OF DRIVE quarantine clusters

By Bernadette D. Nicolas

Price hike

RELATEDLY, Pampi also said the prices of bacon and ham could rise by at least 15 percent this holiday season after imported raw materials became more expensive due to the global ASF scare.

Agarrado said prices “would have to go up,” as world prices of raw materials, such as pork shoulder, rose by 30 percent to 40 percent as early as the first quarter of this year.

See “EO,” A2

@BNicolasBM

& Jovee Marie N. dela Cruz @joveemarie

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MID the African swine fever (ASF) outbreaks in several areas in Luzon, former Agriculture Secretary and now Mindanao Development Authority (MinDA) Chairman Emmanuel F. Piñol renewed his proposal to separate the three major islands into quarantine clusters.

During a Senate Finance subcommittee hearing on the budget of MinDA, Piñol said this will insulate Mindanao and Visayan businesses from the impact of ASF. The former agriculture chief again made the pitch before Sen. Panfilo M. Lacson, noting that his proposal is already being practiced in other countries, including ASF-stricken Belgium.

“In our proposal, Luzon should be considered as a separate quarantine cluster so that if OIE [World Organisation for Animal Health] has an advisory, for example, ASF will have an outbreak in Luzon; Mindanao and Visayas can still operate as an independent quarantine cluster,” he said.

Piñol said he had proposed this during the outbreak of avian influenza in Luzon in 2017.

He said the identification of quarantine clusters allowed Brussels to say that other regions in Belgium remain ASF-free.

“If we do not separate the country into clusters, when a disease breaks out, the whole Philippines will be listed as ASFaffected country, but if we will divide it into clusters, Luzon and Visayas will be isolated,” he said.

In a separate interview with reporters, the former agriculture chief said Mindanao hog industry stakeholders had recommended a “quarantine wall” be set up to protect Mindanao from the entry of ASF. “Every region affected as of the moment should do that. Even Visayas should do that,” he said.

Asked if it was also recommended that only locally produced pork products should be sold in Mindanao, Piñol said: “That was the essence of the recommendation of the stakeholders yesterday. Mindanao is producing pork more than what it consumes so it never happened before that Mindanao will import pork from Luzon except for processed products.”

Inquiry

MAGSASAKA Party-list Rep. Argel Joseph T. Cabatbat said he filed two resolutions calling for an immediate House investigation into the outbreak of ASF, as well as the increasing number of rice cartels and rice smuggling in the country.

Cabatbat filed House Resolution 336 directing the House Committee on Agriculture and Food to look into the status of ASF proliferation in the country not only to protect the local consumers, but also to assess its adverse impact on the hog industry.

Cabatbat also filed House Resolution 332 urging the House Committee on Agriculture and Food to conduct an inquiry in aid of legislation to stop rice cartels and rice smuggling.

“Rice smuggling and rice cartels do not only deny the government of revenues but also put our poor Filipino families at the edge of hunger and poverty, forcing them to resort to criminality in order to survive,” he said.

Continued from A1

Under the draft DAO posted on the DTI’s web site, a mandatory recognition process is created wherein a person who intends to establish, operate or advertise a legitimate direct selling, MLM or networking company shall go through before actual operation. The applicant is required to accomplish the DTI prescribed application form and submit it to the agency.

The DTI shall then evaluate the application and documents submitted within the day of receipt.

If the applicant meets the qualifications set by DTI, he/she shall pay the prescribed fees. The recognition certificate will then be issued within seven working days from receipt of the application.

The DAO lists indicators in determining whether there is basis to conduct an investigation and, consequently, file a complaint against a pyramiding scheme masking as an MLM program.

One indicator: when profit or commission is conditioned upon the recruitment of participants and the recruits are required to pay a fee. Another indicator: the unusual high returns on investment in the form of profit or commission over a short period.

Also, an MLM could be a pyramiding scheme when a consumer item is involved and its price is set so unreasonably high that a buyer would not normally purchase it at

Growth. . .

Continued from A1

Pernia said growth will be driven by the government’s efforts to spend the 2019 budget. The economic team had blamed the budget impasse for the slowdown in GDP in the first semester of the year.

“You have to believe, right?

We have to believe in ourselves, republic of beliefs,” Pernia said.

In his keynote speech, Pernia quoted former World Bank Chief Economist and Professor of Economics of Cornell University Kaushik Basu who wrote the book, titled The Republic of Beliefs.

Pernia quoted Basu, who said “the most important ingredients of a republic, including its power and might, reside in nothing more than the beliefs and expectations of ordinary people going about their daily lives and quotidian chores.”

He said applying this principle to the Philippines means that Filipinos’ belief in the administration is important in any reform work.

This is more crucial given the number of policies that the Duterte administration is instituting in the medium term, such as the Ease of Doing Business Act and the Philippine Identification System Act, and Universal Health Care law, among others.

“All of these will be nothing but ink on paper if the whole citizenry

such price; therefore, forcing the participant to recruit, the draft DAO read.

The proposed order says a pyramiding scheme has no policy on return, refund, exchange or warranty.

If any of these indicators show up in a business, then a party can file a complaint before the DTI’s Fair Trade Enforcement Bureau, which the DTI will investigate.

If proven guilty, the illegitimate MLM firm will be sanctioned in accordance with DTI rules and regulations, and its certificate of registration will be terminated.

In 2013 the Securities and Exchange Commission of the United States issued an investor alert warning individual investors about pyramiding schemes. It described the illegal activity as an “investment scam that fraudsters often pitch as a legitimate business opportunity in the form of multilevel marketing programs.”

The agency said pyramiding schemes often go against the federal securities laws, such as laws prohibiting fraud and requiring the registration of security offerings and broker dealers.

Under a pyramiding scheme, money obtained from new participants is used to pay recruiting commissions to earlier participants. This is identical to the infamous Ponzi schemes, wherein money secured from new investors is used to pay fake profits to earlier investors. suddenly lose their belief in our society’s potential. Imagine making the monumental Bangsamoro Organic law work if the Bangsamoro citizens themselves in the first place distrust the law,” Pernia said.

Earlier, Neda said the Philippine economy will, likely, suffer a worse fate if the national budget will again be reenacted next year.

In the first budget hearing at the House of Representatives (HOR), Pernia said a full-year growth of below 5 percent would be likely if the 2020 budget is not passed on time.

Based on historical data compiled by the BusinessMirror, this level of growth has not been seen since 2011 when GDP posted a full-year growth of 3.7 percent.

Pernia said this does not bode well for the Philippines, especially in light of the increase in the country’s population. While the growth rate is declining, the absolute figure continues to rise.

The Philippine Statistics Authority (PSA) now estimates that Philippine population will reach 107.288 million in 2019, and further increase to 115.378 million by 2025. A high population will limit economic opportunities, especially if the economy is not doing well.

A delayed budget, Pernia said, accounts for the modest 5.5-percent GDP average in the first semester.

GDP expansion in the first quarter and second quarter reached 5.6 percent and 5.5 percent, respectively.

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In the ad material of Notice of filing of Application for Alien Employment Permits published on September 13, 2019, the Nationality of Ms. Cai, Fangan under GATEWAYSOLUTIONS CORP. should have been read as Ms. Cai, Fangnan and not as published.

If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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Companies BusinessMirror

Cusi prods ERC on 500-MW San Buenaventura power plant

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NERGY Secretary Alfonso Cusi has flagged to the Energy Regulatory Commission the importance of the 500-megawatt (MW) San Buenaventura coal-fired power plant, the commercial operation date (COD) of which was pushed back because the ERC has yet to issue a permit.

“I wrote ERC and I manifested to ERC the importance of it being online because that supply is necessary to augment the present supply of the country. The ERC needs to act on it,” said Cusi.

The country’s first coal-fired power plant to use supercritical technology is being undertaken by San Buenaventura Power Ltd. (SBPL), a partnership

between Meralco PowerGen Corp.

(MGen) and New Growth BV, a whollyowned subsidiary of Electricity Generating Public Co. Ltd. (Egco Group) of Thailand.

The P56.2-billion plant in Mauban, Quezon, was earlier tracking COD on September 15. According to Meralco President Ray Espinosa, the ERC has not yet issued its certificate

of compliance (COC).

The Meralco official said the ERC raised questions on the water rights accorded by the National Water Resources Board (NWRB). Espinosa said the Department of Energy has been informed about this together with the other power plants scheduled for maintenance shutdown next month. Hence, a possible tight supply in October.

Cusi said he does not know what caused the delay, but said the ERC was not able to include SBPL’s COC in the agenda during a meeting. “It was not included in the hearing last time.

I think it was included yesterday or will be included soon.... I just emphasized the importance of that supply. It needs to be acted upon.”

The SBPL power plant will play a crucial role as electricity demand grows, especially in Luzon which accounts for about 70 percent of the country’s gross domestic product.

The electricity to be generated by the plant will be sold to Meralco, the

country’s largest distribution utility, under a 20-year power supply agreement.

Next month, Ilijan unit 1 (600 MW) will be on scheduled maintenance shutdown on October 3 to 15. The same plant will also produce less capacity from October 16 to 18.

Other power plants on scheduled shutdown next month are the 20-year old Sual 2 (600 MW), from October 19 to November 17; San Lorenzo Module 50 (250 MW), from October 26 to 30.

The Malampaya gas facility, meanwhile, will not be able to supply Meralco from October 12 to 15 because it will also undergo maintenance shutdown for four days.

The Malampaya natural gas facility supplies 40 percent of Meralco’s requirement.

The gas facility fuels the following gas plants: the 1,000-MW Santa Rita, the 500-MW San Lorenzo, the 1,200MW Ilijan, 97-MW Avion and the 414MW San Gabriel.

Megaworld to spend ₧1.5B to build ‘beach mall’ in Mactan Newtown

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ROPERTY developer Megaworld Corp. on Thursday said it is spending some P1.5 billion to build a two-level mall along the beachside cliff of its 30-hectare Mactan Newtown development in Lapu-Lapu City, Cebu.

The company said it will complete the Mactan Newtown Beach Walk in 2021.

With a total gross floor area of 30,000 square meters, the mall will be highlighted by a 1.4-hectare man-made lagoon at the center, which will have float-

ing boardwalks and a bridge connecting both sides of the mall. With a maximum depth of around 1.5 meters, it can also serve as venue for future water sports activities, such as jet ski, wakeboarding, stand-up paddling and boating. It will also have its own man-made

shoreline at its perimeter.

The beach walk, designed for and to be operated under the Megaworld Lifestyle Malls brand, will also have its own chapel that will be surrounded by a garden by the cliffside, overlooking the sea. VG Cabuag

Friday, September 20, 2019

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CSMC bags 2 awards in Hospital Management Asia Conference 2019

OFFICIALS of Cardinal Santos hospital at the awarding. From left: Dr Monserrat S. Velasquez, AVP and head of Ancillary; Marivic S. Mabuti, VP and chief financial officer; Emmanuel D. Pajarillaga, senior staff nurse; Dr. Rustico Jimenez, chairman for Talent Development Category and president of Private Hospitals Associations of the Philippines; Dr. Zenaida M. Javier-Uy, SVP and chief medical officer; Dr. Alfred Allen E. Buenafe, executive director for PCAS-MIS; Maria Louzel L. Diaz-Tiozon, VP and head of Human Resources; and Lady Diana D. Jovellanos, director for Clinical Nursing Operations

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ARDINAL Santos Medical Center (CSMC) was recognized at the Asian Hospital Management Awards (Ahma) given out in September in Hanoi, Vietnam, for its commitment to provide excellent health care and world-class medical training.

With the award, the hospital has once again shown that health-care professionals are multifaceted individuals who can be innovators as much as providers of care, CSMC officials said.

Hospital Management Asia (HMA) is an award-giving body that recognizes the best practices of various hospitals across Asia. For the past 18 years, the annual conference gives health-care leaders the opportunity to gather and exchange insights toward better healthcare management. This year, among the 500 entries received from 129 hospitals across 17 countries, five entries from the Philippines have been shortlisted as finalists, and two of those are from Cardinal Santos Medical Center.

Winning the Gold Award under the Talent Development category is the Philippine Center for Advanced Surgery (PCAS) Minimally Invasive Surgery Training Center, the pioneering training center for MIS in the Philippines, accredited and recognized here and abroad

and continues to set high standards in training for minimally invasive surgery.

Receiving the Excellence Award under Innovations in Healthcare Technology category is Project E.R.R.A.N.D (Electronic Real-time Rounds Activities for Nursing Division): Using Technology for Productivity and Better Patient Care. This is one of the innovation projects from CSMC Supervisory School which made use of technology to collect real-time feedback from in-patient using mobile phones, tablets and computers, and provide reports to unit managers for faster decision-making and provision of support to enable the desired patient and nursing experience.

Both awards for Cardinal Santos Medical Center were received by members of the Senior Management and Medical Executive Committee led by SVP and Chief Medical Officer Dr. Zenaida M. Javier-Uy. She was joined by PCAS-MIS Executive Director Dr. Alfred Allen E. Buenafe on behalf of the hospital’s President and CEO Atty. Pilar Nenuca P. Almira.

The conference allowed medical practitioners and health-care professionals to take inspiration from others to make health care available and accessible for everyone in the best way possible.

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Companies BusinessMirror

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PSE STOCK QUOTATIONS

September 19, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

54.15 140.2 93.2 25.65 12 68.35 13 20.85 45.75 57.4 113.5 27.4 197 59.4 1.16 18.5 5.86 1.26 0.44 760 0.95 179.5 1825 1.1

57.5 140.7 93.25 25.7 12.02 68.4 13.1 22.4 45.8 57.9 117.9 27.5 199 59.6 1.18 18.6 5.88 1.3 0.45 780 0.96 180 1830 1.14

56.5 139.7 93.5 25.7 12 68 13 20.8 46.2 57.9 113.5 27.3 197.8 59.4 1.16 18.6 5.46 1.29 0.44 760 0.95 179.5 1830 1.1

56.5 140.7 93.75 25.9 12.06 68.75 13 20.8 46.2 57.9 113.5 27.5 199 59.6 1.16 18.6 5.98 1.29 0.445 760 0.95 180 1830 1.1

54.15 139.6 92.5 25.65 11.9 67.95 13 20.8 45.75 57.9 113.5 27.3 196 59.35 1.16 18.6 5.4 1.26 0.44 760 0.95 179.5 1825 1.1

54.15 140.2 93.2 25.65 12 68.35 13 20.8 45.8 57.9 113.5 27.4 199 59.6 1.16 18.6 5.88 1.26 0.44 760 0.95 180 1825 1.1

840 653680 4948010 16300 415700 1171950 53700 200 94200 100 10 10200 452150 5280 20000 400 3076900 76000 280000 1850 74000 8620 410 41000

46887 91568090 461056856 418615 4986446 80073937 698100 4160 4316800 5790 1135 279000 89282613 313745.5 23200 7440 17754422 96030 123250 1406000 70300 1547825 748300 45100

INDUSTRIAL

8009933 -15440376 -254175 3870664 -36574829.5 -4160935 -120560 -25527159 -59407.5 -142372 -950 -

ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.32 39.5 0.248 25.7 81.05 371.4 21.9 5.11 2.71 10.7 34.05 7.36 15.6 17.1 14.04 6 9.01 7.17 90.85 0.73 49.9 223 8.22 13.86 2.08 11.74 1.83 5 2.3 0.125 166.5 1.25 2.42 72.25 78 2.67 6.13 15.72 10.54 13.84 19 1.08 1.31 115.6 2.1 1.62 5.12 3.11 5.2 31.75 2.38 8.5 1.56 5.2 1.1 10.5

1.33 39.75 0.25 25.8 81.35 371.6 21.95 5.13 2.72 10.84 34.1 7.4 15.88 18.5 14.26 6.08 9.1 7.18 91 0.74 50 223.4 8.49 13.88 2.09 11.88 1.84 5.15 2.4 0.128 169.6 1.26 2.54 75.45 80.5 2.68 6.14 15.74 10.56 13.96 19.02 1.1 1.32 121.4 2.11 1.78 5.13 3.56 5.22 32.3 2.39 8.55 1.6 5.3 1.12 10.58

1.32 39.3 0.246 26 81.8 372 21.9 5.18 2.76 10.7 34 7.5 15.92 17.9 14.1 6.12 9.04 7.18 91 0.71 50 226 8.49 14.1 2.1 11.84 1.82 5.05 2.31 0.125 166.7 1.25 2.42 72.55 80.2 2.65 6 15.78 10.42 13.74 19.3 1.13 1.3 135 2.12 1.79 4.98 3.56 5.14 32 2.41 8.56 1.61 5.3 1.1 10.52

1.33 39.7 0.25 26.05 81.8 372 22 5.18 2.8 10.98 34.3 7.5 15.94 18.5 14.4 6.12 9.05 7.24 91.5 0.74 51.7 226 8.49 14.1 2.12 11.92 1.84 5.15 2.31 0.128 169.6 1.26 2.42 75.45 80.2 2.69 6.13 15.78 10.56 13.96 19.36 1.13 1.33 135 2.12 1.79 5.12 3.56 5.2 32 2.42 8.6 1.61 5.3 1.12 10.88

1.32 39.25 0.246 25.4 81 367.8 21.75 5.1 2.7 10.54 34 7.35 15.54 17.88 14 6 9.01 7.16 90.75 0.7 49.5 222.8 8.49 13.88 2.06 11.74 1.79 5.05 2.3 0.125 166 1.22 2.42 72.25 78 2.65 5.91 15.56 10.38 13.74 19 1.07 1.29 121.3 2.03 1.77 4.98 3.56 5.14 31.7 2.3 8.5 1.61 5.3 1.08 10.42

1.33 39.5 0.25 25.8 81.05 371.4 21.95 5.11 2.71 10.84 34.05 7.4 15.88 18.5 14.04 6 9.01 7.18 91 0.74 49.9 223 8.49 13.88 2.09 11.8 1.83 5.15 2.3 0.128 169.6 1.26 2.42 75.45 78 2.67 6.13 15.72 10.54 13.96 19 1.1 1.32 121.4 2.1 1.77 5.12 3.56 5.2 31.75 2.39 8.5 1.61 5.3 1.12 10.58

68000 449400 910000 5135900 3040 74880 1536900 1241600 18681000 45900 4145900 44500 140600 49100 3655200 93800 293100 5816700 332980 5868000 102350 424150 200 85300 2889000 134300 588000 2000 20000 650000 169400 1729000 15000 1280 1090 452000 9200 1750600 733300 140100 725400 750000 3247000 1000 393000 3000 133000 1000 36000 204000 6385000 60100 1000 100 12000 1175100

90330 17,759,930( 226720 132733975 246953.5 27721922 33641845 6366958 51232200 499014 141192235 330115 2217110 890020 51207386 564966 2,646,959( 41858744 30302644 4261780 5106736.5 94784994 1698 1187666 6062950 1581462 1063840 10170 46160 81420 28635445 2153140 36300 92689.5 85518 1208660 54845 27533262 7701000 1947304 13835950 810090 4252050 122113 823460 5350 677830 3560 186822 6521830 15097980 511706 1610 530 13190 12513036

2,427,719.9997) 2278035 -51411.5 -5807602 -96360 -636411 -1980980 -38736 13686225 7450 1385708 -180000 1281858 -485184 2,270,733.9996) -18588497 -20170258.5 -93990 4086763 -24733016 -881214 417460 -924890 7670 2506596 -398800 36300 101680 613 21802874 2183320 -342426 -4863420 -249110 21197 -5019860 5980750 -118288 519232

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES SEAFRONT RES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.96 13 899 54 12.36 3.44 6.9 0.78 1.19 1.2 6.77 8.91 13.52 0.23 875 5.86 72.5 5.35 0.49 4.44 14.68 0.63 5.06 1.34 2.96 1.28 1004 178.6 0.84 2.44 222.6 0.229 0.241

0.97 13.3 900 54.9 12.38 3.47 7.07 0.79 1.2 1.25 6.8 8.92 13.68 0.239 880 6.19 72.6 5.74 0.51 4.48 14.8 0.64 5.07 1.38 3.09 1.29 1005 178.8 0.85 2.59 229.8 0.233 0.255

0.91 13.3 900 54.5 12.56 3.51 6.9 0.8 1.21 1.21 6.78 8.93 13.5 0.24 885.5 5.85 75 5.38 0.51 4.53 14.48 0.65 5.06 1.34 3.09 1.29 1015 174.5 0.84 2.44 229.8 0.234 0.255

0.97 13.3 903 54.9 12.58 3.52 6.9 0.8 1.21 1.21 6.86 9 13.68 0.24 885.5 6.19 75 5.38 0.51 4.53 14.8 0.65 5.12 1.38 3.09 1.29 1019 179 0.88 2.44 232 0.234 0.255

0.9 12.94 898.5 53.8 12.18 3.43 6.9 0.79 1.18 1.21 6.75 8.88 13.5 0.24 871.5 5.85 72.05 5.3 0.49 4.42 14.48 0.62 5.06 1.33 3.09 1.27 1000 174.5 0.84 2.44 229.8 0.234 0.245

0.97 13.3 900 54.9 12.38 3.44 6.9 0.79 1.19 1.21 6.79 8.92 13.68 0.24 880 5.86 72.5 5.3 0.51 4.44 14.8 0.65 5.07 1.38 3.09 1.27 1005 178.8 0.84 2.44 229.8 0.234 0.245

35326000 33900 229470 599960 5398000 2261000 2400 908000 3015000 361000 1533600 4733400 6900 10000 117160 2600 536440 47100 26000 794000 235400 133000 14089700 85000 2000 413000 82115 466950 668000 19000 620 10000 1560000

33282400 443866 206494385 32664614.5 66640204 7810660 16560 717330 3598080 436810 10398579 42195935 93330 2400 102733420 15254 39,079,049.5( 250210 12900 3555610 3456406 84060 71,499,464( 113850 6180 529890 82916850 82907949 561280 46360 142540 2340 386690

-1425600 -9538930 -4614238 -22696340 676750 -242000 -3357189 -35369422 1368 2400 -41365015 9,938,849.9996) 530 163160 1185978 4,175,887.9997) -38500 -9148900 -16583032 -168120 -4596 165640

HOLDING & FRIMS

PROPERTY

ARTHALAND CORP 0.94 0.95 0.95 0.96 0.93 0.95 3791000 3552510 2850 AYALA LAND 48.9 49 48.1 49 48.1 49 8494900 415491840 22627555 ARANETA PROP 1.82 1.87 1.88 1.88 1.83 1.87 253000 465770 BELLE CORP 2.15 2.16 2.16 2.17 2.15 2.15 941000 2031410 -1414040 A BROWN 0.84 0.86 0.85 0.87 0.84 0.86 3687000 3173230 1720 CITYLAND DEVT 0.85 0.87 0.87 0.87 0.85 0.85 13000 11070 CROWN EQUITIES 0.217 0.228 0.229 0.229 0.218 0.228 370000 80870 CEB LANDMASTERS 4.92 4.94 4.99 4.99 4.92 4.92 193000 955540 188090 CENTURY PROP 0.55 0.56 0.56 0.56 0.55 0.55 11185000 6228920 CYBER BAY 0.4 0.405 0.4 0.4 0.4 0.4 280000 112000 4000 DOUBLEDRAGON 21.3 21.4 21.2 21.6 21.2 21.3 29200 623635 -21320 DM WENCESLAO 9.77 9.84 9.66 9.83 9.6 9.77 826700 8069691 7220701 EMPIRE EAST 0.455 0.46 0.455 0.46 0.455 0.46 50000 22800 EVER GOTESCO 0.121 0.13 0.13 0.13 0.13 0.13 10000 1300 1300 FILINVEST LAND 1.64 1.65 1.66 1.66 1.63 1.65 3803000 6240070 510170 GLOBAL ESTATE 1.24 1.25 1.24 1.25 1.24 1.25 11000 13650 8990 HLDG 15.18 15.2 15.26 15.26 15.2 15.2 1580800 24096824 -1197362 PHIL INFRADEV 1.48 1.49 1.49 1.51 1.47 1.48 1418000 2114430 754830 KEPPEL PROP 4.19 4.66 4.29 4.29 4.29 4.29 20000 85800 CITY AND LAND 0.73 0.75 0.73 0.73 0.73 0.73 1000 730 MEGAWORLD 5.01 5.02 5.07 5.1 5.01 5.01 6375500 32116999 -12182371 MRC ALLIED 0.315 0.32 0.32 0.32 0.315 0.315 4120000 1304100 PHIL ESTATES 0.435 0.445 0.445 0.445 0.445 0.445 30000 13350 PRIMEX CORP 2.02 2.04 2.07 2.07 2.02 2.04 83000 168550 ROBINSONS LAND 25.1 25.15 24.95 25.2 24.95 25.1 917800 23024880 -7060610 PHIL REALTY 0.385 0.39 0.39 0.39 0.39 0.39 180000 70200 ROCKWELL 2.33 2.36 2.32 2.38 2.32 2.36 8000 18940 SHANG PROP 3.24 3.35 3.35 3.35 3.24 3.24 3000 9940 STA LUCIA LAND 2.41 2.45 2.41 2.45 2.41 2.45 638000 1537620 SM PRIME HLDG 35.05 35.45 35.1 35.45 34.85 35.45 4148800 145782885 6110115 STARMALLS 5.81 5.82 5.98 5.98 5.82 5.82 257100 1507276 -495803 SUNTRUST HOME 0.92 0.94 0.92 0.92 0.92 0.92 32000 29440 VISTA LAND 7.66 7.68 7.62 7.69 7.62 7.68 1976200 15156926 -5472065

SERVICES ABS CBN 19.28 19.3 19.44 19.6 19.3 19.3 190300 3690786 GMA NETWORK 5.25 5.3 5.26 5.3 5.25 5.25 139400 732494 MANILA BULLETIN 0.45 0.46 0.445 0.445 0.445 0.445 170000 75650 GLOBE TELECOM 1890 1900 1945 1945 1890 1890 92025 175276195 -128602765 PLDT 1159 1162 1172 1177 1155 1159 51900 60311020 -927590 APOLLO GLOBAL 0.048 0.049 0.049 0.049 0.048 0.049 90000 4380 DFNN INC 5.81 6.22 6.22 6.22 6.22 6.22 100 622 622 IMPERIAL 1.85 1.92 1.84 1.93 1.84 1.92 6000 11480 ISLAND INFO 0.112 0.113 0.113 0.113 0.11 0.112 1330000 147210 ISM COMM 5.3 5.31 5.37 5.38 5.31 5.31 724900 3863408 282584 NOW CORP 3.42 3.43 3.3 3.47 3.25 3.43 3300000 11188680 451040 TRANSPACIFIC BR 0.36 0.365 0.37 0.37 0.36 0.36 6790000 2465350 3600 PHILWEB 3.19 3.2 3.22 3.24 3.17 3.2 338000 1080680 -178140 2GO GROUP 10.2 10.28 10.06 10.4 10.04 10.2 15600 159356 CHELSEA 7.05 7.07 7.05 7.12 7.02 7.05 366100 2586819 -145015 CEBU AIR 91.65 91.7 90.9 92.4 90.9 91.65 13910 1273705 66167.5 INTL CONTAINER 130 130.8 129.5 130.8 129.1 130 964400 125407863 -23504778 LBC EXPRESS 13.5 14.18 14.3 14.3 13.52 13.52 500 6994 LORENZO SHIPPNG 0.92 0.94 0.91 0.91 0.91 0.91 1000 910 MACROASIA 19.48 19.5 19.5 19.7 19.5 19.5 58700 1146076 21524 METROALLIANCE A 1.18 1.2 1.19 1.19 1.18 1.18 55000 65280 METROALLIANCE B 1.24 1.37 1.23 1.23 1.23 1.23 4000 4920 PAL HLDG 8.05 8.1 8.2 8.2 8.1 8.1 10700 87020 HARBOR STAR 1.69 1.71 1.7 1.72 1.69 1.71 353000 599700 ACESITE HOTEL 1.71 1.75 1.77 1.78 1.71 1.75 42000 73930 BOULEVARD HLDG 0.056 0.057 0.056 0.057 0.056 0.056 10730000 602610 DISCOVERY WORLD 2.03 2.17 2.17 2.17 2.17 2.17 1000 2170 2170 WATERFRONT 0.7 0.71 0.7 0.71 0.69 0.71 358000 249390 FAR EASTERN U 895 920 920 920 920 920 90 82800 IPEOPLE 9.23 9.44 9.23 9.23 9.23 9.23 900 8307 STI HLDG 0.69 0.71 0.69 0.7 0.69 0.7 210000 146720 BERJAYA 2.37 2.38 2.38 2.42 2.37 2.38 102000 243220 12000 BLOOMBERRY 11.04 11.08 11.02 11.12 11.02 11.04 1308800 14447572 -1992384 PACIFIC ONLINE 2.76 2.8 2.89 2.89 2.76 2.76 113000 314680 LEISURE AND RES 3.19 3.22 3.16 3.23 3.16 3.19 337000 1078330 -163190 MANILA JOCKEY 3.4 3.48 3.49 3.49 3.4 3.4 32000 109650 PH RESORTS GRP 4.73 5.05 4.74 5.05 4.73 5.05 15000 71290 PREMIUM LEISURE 0.71 0.72 0.73 0.74 0.72 0.72 1256000 911950 -452170 TRAVELLERS 5.01 5.4 5.4 5.4 5.39 5.4 29900 161366 38336 METRO RETAIL 2.48 2.5 2.48 2.5 2.48 2.5 207000 516270 -32400 PUREGOLD 42.25 42.3 42.55 42.55 42.1 42.3 162300 6860885 -2721225 ROBINSONS RTL 78.5 79.8 80.5 80.5 78.3 79.8 6400 510474 -109083.5 PHIL SEVEN CORP 135.5 139.9 135 137.7 135 137.7 93330 12849727 29766 SSI GROUP 2.81 2.84 2.75 2.84 2.75 2.84 850000 2371320 1092190 WILCON DEPOT 16.42 16.6 16.42 16.6 16.3 16.6 3817000 62920388 11318638.0004 APC GROUP 0.73 0.74 0.68 0.75 0.67 0.74 100064000 71317060 -1090360 EASYCALL 10.32 10.4 10.28 10.6 10.06 10.32 309700 3184888 PAXYS 2.76 3 2.76 2.76 2.76 2.76 2000 5520 PRMIERE HORIZON 0.57 0.58 0.58 0.59 0.56 0.58 16435000 9384540 -96099.9996

MINING & OIL ATOK 11.7 12.14 12.14 12.14 11.7 12.14 1100 12958 APEX MINING 1.2 1.21 1.23 1.23 1.19 1.2 2106000 2547450 9600 ABRA MINING 0.0017 0.0018 0.0017 0.0017 0.0017 0.0017 17000000 28900 BENGUET A 1.18 1.21 1.19 1.19 1.19 1.19 7000 8330 COAL ASIA HLDG 0.28 0.29 0.29 0.29 0.28 0.28 90000 25300 -0 CENTURY PEAK 2.67 2.69 2.68 2.69 2.67 2.67 1108000 2966860 2670 DIZON MINES 7.7 7.97 7.98 7.98 7.7 7.97 22400 173048 FERRONICKEL 1.7 1.71 1.72 1.75 1.69 1.7 5061000 8690220 367320 GEOGRACE 0.23 0.235 0.226 0.24 0.221 0.235 400000 91190 -9280 LEPANTO A 0.11 0.111 0.111 0.111 0.11 0.11 1390000 153410 LEPANTO B 0.109 0.111 0.109 0.109 0.109 0.109 200000 21800 6540 MANILA MINING B 0.011 0.012 0.012 0.012 0.012 0.012 700000 8400 MARCVENTURES 1.17 1.2 1.21 1.21 1.17 1.2 96000 114060 NIHAO 1.13 1.15 1.11 1.17 1.11 1.15 318000 360510 NICKEL ASIA 4.22 4.23 4.17 4.29 4.17 4.22 5333000 22584820 1476320 OMICO CORP 0.51 0.53 0.5 0.54 0.5 0.53 108000 54480 ORNTL PENINSULA 0.91 0.92 0.91 0.93 0.9 0.93 377000 349990 PX MINING 3.96 3.97 3.97 4.04 3.97 3.97 102000 406320 -32000 SEMIRARA MINING 23.45 23.5 23.5 23.5 23.2 23.5 114800 2692020 -1075490 UNITED PARAGON 0.0064 0.0065 0.0065 0.0065 0.0065 0.0065 1000000 6500 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.012 0.012 29600000 355200 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 800000 9600 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 6700000 75800 -44000 PHINMA PETRO 9.08 9.17 9.3 9.4 8.97 9.17 644300 5854124 321083.0001 PXP ENERGY 12.36 12.38 12.5 12.7 12.2 12.36 952500 11801984 805574

PREFFERED

HOUSE PREF A 97.25 97.4 97.4 97.4 97.2 97.25 1100 106954.5 ALCO PREF B 101 102 102 102 102 102 230 23460 DD PREF 101.8 102 101.9 101.9 101.9 101.9 500 50950 SMC FB PREF 2 990 998 990 990 982 982 50 49180 9900 FGEN PREF G 107 107.5 107.1 107.1 107 107 12950 1385677 GTCAP PREF B 961.5 970 970 970 970 970 10 9700 MWIDE PREF 101 101.5 101.5 101.5 101.5 101.5 10 1015 PNX PREF 3A 100.1 102 101 101 100 100 12810 1285412 PNX PREF 3B 108 109 109 109 109 109 150 16350 PCOR PREF 2B 1024 1030 1024 1024 1024 1024 1160 1187840 -1187840 SMC PREF 2C 77.8 78 78.5 78.5 77.8 78 18950 1477570 SMC PREF 2D 75.15 75.5 75.05 75.05 75.05 75.05 7000 525350 SMC PREF 2F 77 78 76.5 77 76.5 77 620 47690 SMC PREF 2G 75.25 76.9 75.25 75.25 75.25 75.25 52900 3980725 150500 SMC PREF 2H 76 76.4 76 76 76 76 70 5320 SMC PREF 2I 76.2 76.75 76.8 76.8 76.75 76.75 130 9983 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.5 5.08

18.52 5.17

18.5 5.08

18.54 5.17

18.5 5.08

18.52 5.17

288000 21100

5329632 107197

WARRANTS LR WARRANT

1.62

-1417772 -

1.68

1.7

1.7

1.61

1.68

45000

72890

-

ITALPINAS 6.87 KEPWEALTH 11.36 MAKATI FINANCE 2.3 XURPAS 1

6.88 11.38 3.22 1.01

6.73 11.36 2.3 1

6.9 12 2.3 1.02

6.73 11.36 2.3 0.99

6.87 11.36 2.3 1

482100 883700 6000 2814000

3293608 10348932 13800 2830120

-143730 -22382 -

FIRST METRO ETF

118.6

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 118

118.4

118.6

118

118.6

2460

291105

-3552

www.businessmirror.com.ph

Phinma accepts $50-M investment from Vietnamese cement firm

P

HINMA Corp. on Thursday said it is taking in a $50-million investment through an issuance of preferred shares to a Vietnamese cement firm.

In its disclosure, Phinma said it signed a deal with Song Lam Cement Joint Stock Co., Vissai Ninh Binh Joint Stock Co. and Hoang Minh Truong.

Song Lam, a subsidiary of Vissai, is the largest privately owned

cement manufacturer in Vietnam and exports to 37 countries including the Philippines. Song Lam owns the largest cement plant in Vietnam and will be a major supplier of Philcement Corp., a 60-percent owned subsidiary of Phinma.

“The preferred shares will be entitled to receive annual, fixed cumulative dividends of 7.5 percent.

The preferred shares shall be convertible to common shares. Phinma will also be entitled to nominate one member of the board of directors. as well as the chief financial officer of the company,” Phinma said in its disclosure.

Phinma returned to the cement industry after it registered its cement company PhilCement Corp. in September 2017, aiming to produce approximately 3 million metric tons (MMT) of cement per year.

In one of its disclosures, the

company bared plans to “engage in processing, marketing, importing, trading, selling and distributing cement, cement products and other by-products.”

The company, however, will start as a cement importer.

Phinma imported 50,000 MT of cement, or approximately 2 million sacks, from Vietnam. It plans to import the same amount per quarter for a total of 200,000 MT a year.

Philcement is headed by Eduardo Sahagun, a retired chief executive of Holcim Philippines Inc. who joined Phinma less than a year after retiring. VG Cabuag

Lopez Group tapping RE assets to supply 100 MW to Meralco

By Lenie Lectura @llectura

T

HE power arm of the Lopez group said Thursday it will source power from its geothermal and hydro assets for the 100 megawatts (MW) of capacity that will be supplied to the Manila Electric Co. (Meralco) starting December 26 this year.

“The Lopez group’s renewableenergy [RE] portfolio composed of its First Gen Hydro and its Energy Development Corp. [EDC] geothermal facilities will soon supply 100 MW of clean, renewable, reliable power to Metro Manila after it won in the Meralco Competitive Selection Process [CSP] for 500-MW mid-merit capacity for five years beginning on December 26, 2019,” said EDC in a statement on Thursday.

The power-supply agreement (PSA) was signed with Meralco last September 16.

First Gen Hydro, the group’s contracting arm that is 60-percent owned by EDC and 40-percent owned

by First Gen Corp., was able to offer a lower all-in headline rate of P5.1908 per kilowatt-hour and computed allin Levelized Cost of Energy (LCOE, VAT inclusive) of P5.3989/kWh compared to other competing coal companies.

“Winning this contract is a clear indication that clean, renewable energy, especially one that is baseload or available 24/7 like geothermal, can be priced lower versus carbon-

intensive, nonrenewable-energy sources,” said EDC President and COO Richard B. Tantoco. “This gives power consumers a more compelling reason to decarbonize our economy by transitioning to RE.” Power will be supplied by First Gen Hydro and EDC’s Nasulo, Tongonan, and Bacon-Manito geothermal facilities.

EDC’s 1,475-MW capacity accounts for 37 percent of the country’s total generated renewable energy, making it the country’s leading RE company. Its 1,181 MW of geothermal portfolio, which accounts for 61 percent of the country’s total installed geothermal capacity, has put the Philippines on the map as the third-largest geothermal producer.

Meanwhile, one of the parties who opposed Meralco’s seven PSAs earlier nullified by the Supreme Court, urged Meralco to include Meralco customers in the CSP. “We insist that Meralco’s residential customers have the highest priority in TPBAC [Third Party Bids and Awards Committee] representation. We are the most in numbers at over 6 million. We paid two-thirds of Meralco’s revenues but consumed only one-third of the energy sold,” said Romeo Junia in a statement.

“Commercial/industrial customers, on the other hand, contributed only one-third of revenues but consumed two-thirds of energy. In the Meralco franchise, commercial/ industrial customer is consumer king; residential customer is revenue

Cebu Landmasters unveils new projects in Citadines-Bacolod

L

ISTED real-estate company Cebu Landmasters Inc. (CLI) has trained its sights in Bacolod as it unveils two new projects—Casa Mira Bacolod and Velmiro Plains Bacolod—and starts construction work on the P1.345-billion Citadines Bacolod City.

“Bacolod is a very important market for Cebu Landmasters. As we expand our presence in the city, we are excited to serve the evolving lifestyle and market needs of the Bacolodnons and at the same time contribute to the economy of the city,” said CLI Chief Executive Officer Jose Soberano III. These two new projects follow the regional property player’s first development in Bacolod City, the three-tower MesaVirre Garden Residences launched in 2018.

Soberano said Casa Mira Bacolod is a 4.5-hectare property that will feature 431 town house units with floor areas ranging from 40 square meters to 78 sq m and lot sizes ranging from 48 sq m to 60 sq m. The units will include top-of-the-line toilet and bath fixtures (shower, water closet and lavatory), premium wall and ceiling finishes, kitchen countertop and base cabinets, a well-appointed powder room, individual water meters, and a spacious carport. The design of the houses is inspired by sugar canes, the top agricultural crop in Negros, with chevron latticework incorporated as house accents.

Located in Barangay Granada on the easternmost portion of the “City of Smiles,” Casa Mira Bacolod is accessible to hospitals, schools, malls and other major establishments. Featured amenities include a clubhouse, swimming pool, kiddie pool, basketball court, children’s play area, park areas, perimeter fence, gate and guardhouse, property management services, and 24-hour security system.

This will be CLI’s seventh development to carry this best-selling economic brand, all situated within growth cities, such as Cebu, Sibulan and Cagayan de Oro. Casa Mira properties have been designed to offer more amenities and more value for a Filipino family’s investment.

The P600-million Velmiro Plains Bacolod, meanwhile, is an 8.35-hectare development which is strategically located on Burgos Avenue in Granada and features 342 single-detached house and lot units.

Each house model—named after family virtues: Solas (comfort), Anandi (joy), Asha (hope), Felicity Prime (bliss) and Dara (wisdom)—is designed to provide comfortable living spaces fit for every family’s lifestyle. Its design inspiration comes from the “Balay na Bato”—an ode to Bacolod City’s rich cultural heritage—featuring large windows, clean lines, warm tones and minimalistic hues, said CLI’s Soberano.

slave,” he added. CSP is mandatory for all distribution utilities after the SC nullified the ERC orders that delayed the implementation of CSP and unduly benefited the utilities.

Meralco’s seven supply contracts covering 3,551 MW were among 90 PSAs nullified by the SC order.

MUTUAL FUNDS

“While observers may be invited

by TPBAC under the DOE rules, that invitation is limited to DOE itself and ERC only, leaving residential customers no access to relevant documents, records and other submissions when intentionally left out of TPBAC,” added Junia.

September 19, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 257.01 3.85% -0.79% -0.07% 1.91% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5638 9.85% 3.61% 1.28% 8.54% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.9791 3.28% -1.98% -1.65% 1.95% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9623 8.78% N.A. N.A. 6.8% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8538 4.9% N.A. N.A. 4.03% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4332 6.33% 0.46% 0.03% 3.03% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8718 6.42% -3.73% N.A. 4.2% MBG EQUITY INVESTMENT FUND, INC. -A 118.01 2.97% N.A. N.A. 1.59% PAMI EQUITY INDEX FUND, INC. -A 52.1157 8.1% 1.02% N.A. 5.88% PHILAM STRATEGIC GROWTH FUND, INC. -A 541.54 7.88% -0.07% -0.15% 5.21% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3101 6.22% 0.9% 0.94% 4.47% PHILEQUITY FUND, INC. -A 38.5515 7.3% 1.86% 0.9% 5.24% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0312 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2951 9.16% 1.84% 1.83% 6.78% PHILIPPINE STOCK INDEX FUND CORP. -A 884.01 9.21% 1.73% 1.76% 6.71% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9124 8.76% 0.56% N.A. 6.09% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2799 7.28% 1.45% 1.03% 5.44% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0157 8.76% 1.66% N.A. 6.43% UNITED FUND, INC. -A 3.7002 7.44% 3.04% 2.26% 5.7% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 118.5156 9.5% 2.52% 2.8% 7.01% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9632 -3.27% 2.25% -1.16% 3.67% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2994 0.67% 8.04% N.A. 17.57% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6523 0.81% -2.64% -2.83% 0.07% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2927 4.48% -0.81% -0.08% 3.78% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6567 6.82% 0.65% -1.27% 4.47% GREPALIFE BALANCED FUND CORPORATION -A 1.3495 3.65% N.A. N.A. 3.47% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9593 7.44% 1.19% 1.08% 6.3% PAMI HORIZON FUND, INC. -A 3.7888 8.6% -0.04% 0.34% 7.35% PHILAM FUND, INC. -A 16.9791 8.74% 0.06% 0.26% 6.74% SOLIDARITAS FUND, INC. -A 2.1469 5.4% 0.84% 1.38% 3.76% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8816 7.48% 0.95% 0.83% 6.31% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.02 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.01 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0073 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9849 6.57% 0.59% 0.18% 6.86% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03838 9.5% 2.19% 2.38% 8.73% PAMI ASIA BALANCED FUND, INC. -A $0.9885 2.21% 2.26% -0.76% 8.19% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.765 2.76% 5.85% 2.96% 13.79% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1126 4% 3.58% N.A. 10.16% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 353.91 3.68% 2.24% 2.28% 3.04% ATRAM CORPORATE BOND FUND, INC. -A,1 1.915 2.93% 0.04% 0.07% 3% COCOLIFE FIXED INCOME FUND, INC. -A 3.0818 5.2% 5.31% 5.25% 3.55% EKKLESIA MUTUAL FUND INC. -A 2.2061 4.01% 1.3% 2.05% 3.61% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3348 5.32% 1.43% 1.58% 5.88% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6079 2.06% -1.22% 0.29% 2.78% PHILAM BOND FUND, INC. -A 4.2889 9.7% 0.58% 1.82% 9.42% PHILEQUITY PESO BOND FUND, INC. -A 3.743 8.03% 1.41% 1.66% 6.42% SOLDIVO BOND FUND, INC. -A 0.95 6.36% -0.23% N.A. 6.6% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0198 9.47% 2.09% 2.63% 9.18% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6717 9.18% 1.54% 2.15% 8.56% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $464.86 4.44% 1.91% 2.85% 3.67% ALFM EURO BOND FUND, INC. -A Є220.04 3.22% 1.3% 1.53% 3.47% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1954 6.71% 1.99% 2.5% 6.19% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 4.03% 1.06% N.A. 4.03% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7165 0.95% -1.62% 0.51% 1.56% PAMI GLOBAL BOND FUND, INC -A $1.0952 6.11% -0.21% -1.23% 5.68% PHILAM DOLLAR BOND FUND, INC. -A $2.4122 11.36% 2.02% 3.68% 11.12% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0600592 5.63% 1.9% 2.06% 5.37% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1556 9.04% 1.2% 3% 9.87% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 124.58 4.06% 2.62% 2.06% 3.06% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0212 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2368 5.41% 2.31% 1.4% 4.65% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2542 3.9% 2.8% 2.18% 2.87% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0325 2.21% N.A. N.A. 1.63% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018. 3 LAUNCH DATE IS JANUARY 3, 2019.

4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.).

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

Banking & Finance BusinessMirror

Friday, September 20, 2019 B3

www.businessmirror.com.ph

UnionBank’s API portal handles ₧3 billion worth of transactions

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By VG Cabuag

@villygc

BOITIZ-LED lender Union Bank of the Philippines (UnionBank) has laid claim to the distinction of having the largest application programming interface (API) developer portal among Philippine banks, allowing it to accept public functions such as bills payment, fund transfer and authentication.

The lender said it has over 600 API, which it said makes its portal one of the biggest in Southeast Asia.

It said the portal has already generated P3 billion worth of transactions to date, from both corporate and individual customers.

Translated in terms of API calls, the portal averages around 40 million calls per month, or close to half a billion calls per year, the bank said.

UnionBank was the first local bank in the country to expose its APIs externally in 2016, when it organized its first “Hackathon.”

The portal is the interface between UnionBank’s set of APIs and their various developer stakeholders, particularly fintechs who develop new technology to extend financial

services to the public.

“UnionBank aspires not only to expose its own capabilities but also those of its clients and partners. Today, there are numerous partner APIs that are also exposed in the developer portal together with UnionBank’s own banking APIs,” the bank’s Chief Information Officer Dennis Omila said.

“The goal is that once you go to our site [developer.unionbankph.com], you will see all the APIs that you will need, and not just banking,” Omila said.

Over the three-year period, UnionBank’s API platform has already garnered numerous awards and recognitions, both here and abroad, including the Bangko Sentral ng Pilipinas Top Pesonet Volume Contributor.

Chengdu: Up the pinnacle of MICE success

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N September 4-7, 2019, I was hosted as one of five international guests and the only Filipino at the China International Meetings Development Conference-Chengdu (CIMDC-Chengdu 2019) in Chengdu, the capital of southwestern China’s Sichuan province.

The invitation came from the Amsterdambased International Congress and Convention Association (Icca) and its members in Chengdu —the China Meetings Industry Convention (CMIC) and the Chengdu Municipal Bureau of Exposition (CMBE)—in my capacity as secretary-general of the Association of Development Financing Institutions in Asia and the Pacific (Adfiap).

The event, attended by over 200 participants, was organized by CMIC, CMBE and the Dujiangyan Municipal Government and was meant to present Chengdu in its entirety, together with its people, culture, places, and culinary diversity, as a destination for international business events through the city’s offerings of conference facilities and business environment as a premier convention hub.

It was my first time in Chengdu and I was pleasantly surprised and amazed by the array of MICE (meetings, incentives, conventions, exhibitions) infrastructure facilities that the city is offering to the world—from small to huge meeting and exhibition spaces and more are still being constructed. So it’s no wonder that the city’s vision is to be the “international metropolis of the MICE industry.”

It has the statistics to prove it, too. According to the Chengdu Municipal Bureau of Exposition and China Council for the Promotion of International Trade Chengdu Council, in 2018, the city hosted 689 major events—of which 163 were international events—that used 10.27 million of total exhibition area which was attended by 106 million participants and that netted for its economy, RMB 109.19 billion (about $ 15.34 billion) in revenues.

Association World Octavio Peralta So what makes Chengdu a good attraction for MICE activities? I can cite these factors using the acronym Pinnacle: People (in government, business and social organizations) supporting each other; Infrastructure (MICE facilities, communication and transportation systems); Nature (green mountains, clean rivers and natural habitat for giant pandas); Newness (of event designs, technology, and modern city redevelopment); Accessibility (by air, land and rail transportation); Culture (a famous cultural city with a recorded history of over 2,300 years); Leisure (not only for pandas and spicy food but ancient irrigation systems, opera, etc.); and Economy (a booming and modern business environment).

According to one report, Chengdu is already in the top 10 cities for meetings and events in the Asia-Pacific region. From what I saw and experienced while there, Chengdu is well on its way to the pinnacle of success in the MICE industry and to becoming the international MICE metropolis it aspires to be.

The column contributor, Octavio “Bobby” Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific (Adfiap) and the CEO and founder of the Philippine Council of Associations and Association Executives. PCAAE is holding the Associations Summit 7 on November 27 and 28, 2019, at the Philippine International Convention Center, which is expected to draw over 200 association professionals here and abroad. The two-day event is supported

by Adfiap, the Tourism Promotions Board, and the PICC. E-mail inquiries@adfiap.org for more details on AS7.

Editor: Angel R. Calso

The World BusinessMirror

Friday, September 20, 2019

B5

Investors with $35 trillion want government action on climate

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ORE than 500 investors with $35 trillion of assets are calling on governments to take more action to combat climate change.

The request from a number of investor groups ahead of next week’s United Nations Climate Summit in New York adds to a growing chorus for increased efforts on tackling global warming.

On Wednesday, another group of investment managers who oversee $16 trillion called on companies to implement anti-deforestation policies for their supply chains. Other investors have worked together to

push companies directly to tackle climate-related risks.

“Climate change is such a critical issue for investors’ portfolios and there are so many risks associated with it and also huge opportunities,” said Stephanie Pfeifer, chief executive officer of the London-based Institutional Investors Group on Climate Change, one of the groups that signed a joint letter to leaders. “The right kinds of

policies will help direct capital in an appropriate way so we are able to tackle the issue of climate change from an environmental perspective, but also safeguard portfolios.”

Rising temperatures has massive implications for investors.

Clean energy investment is set to hit $2.6 trillion this decade, according to research by BloombergNEF, and that might not be enough to reduce the risks to the environment. The world must invest $2.4 trillion in clean energy every year through 2035 and cut the use of coal-fired power to almost nothing by 2050, to avoid catastrophic damage from climate change, scientists for the UN reported last year.

That kind of shift in capital flows toward new energy technolo-

gies means investors want more clarity from governments about regulation and other policies that will guide the transition.

The signatories to the letter, which include Legal and General Investment Management, Deutsche Bank AG’s DWS and BNP Paribas Asset Management, request more initiatives to achieve the goals of the Paris climate agreement and to set deadlines for the phasing out of fossil-fuel subsidies and coal plant use.

They also want stricter rules on corporate reporting of climate risks as recommended by the Task Force on Climate-Related Financial Disclosures. That task force was founded and is chaired by Michael R. Bloomberg, the majority owner of Bloomberg LP. Bloomberg News

Huawei tries to overturn US ban that cites ‘cyber-exploitation’ risk

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UAWEI Technologies Co. is making a Hail Mary bid to undo a United States law that prohibits federal agencies and contractors from buying or using the Chinese telecom giant’s equipment because of the alleged risk of “cyber exploitation” by China.

Lawyers for Huawei are due in federal court on Thursday to convince a judge that the law is an unconstitutional attempt by Congress to drive the company out of the country by imposing a “death penalty” over alleged past misdeeds and associations with the Chinese government.

If Huawei prevails and gets the ban overturned, it may have ramifications for the US-China trade war. While the Trump administration has given mixed messages on whether its security concerns about Huawei could be addressed as part of a trade deal, the sanctions against the company provide the US with leverage in the trade talks, said Alan Sykes, a law professor at Stanford University.

“At times it has sounded like Trump is willing to trade on the sanctions,” Sykes said in a phone interview. “If this somehow goes

away, then the opportunity to trade it will also go away.”

China’s biggest technology company may have an uphill battle convincing US District Judge Amos Mazzant in Sherman, Texas, that it was punished “without a hearing or trial” by Section 889 of the 2019 National Defense Authorization Act. The measure prohibits federal agencies and contractors from using routers, switches and other equipment made by Huawei and China’s ZTE Group.

Federal judges are usually reluctant to second guess the government’s evaluation of a national security risk. In a case with some parallels to Huawei’s, the US court of appeals in Washington last year affirmed that Kaspersky Lab, a Russian cyber-security company, wasn’t unlawfully targeted by a similar law that excluded it from federal computer systems because of its close relationship with the Russian government.

The US argues that Congress’ concern that Huawei could be used by the Chinese gover nment to target telecommunication networks isn’t an overnight development. A 2005 report by the R and Cor p. and a 2009 report by the Defense Department

said that Huawei has significant ties to the Chinese militar y, according to the US. With the advance of 5G wireless technology and the expected exponential growth of Internet-connected devices, the need to protect the telecommunications networks from possible cyber threats will only increase, the US said.

“When considered in light of the yearslong analysis and steady stream of governmental actions preceding it, Section 889 represents not only a considered response, but the logical next step, to further Congress’ aim of ensuring that China is not given a strategic foothold in the networks of federal agencies,” the US said in its request to have the lawsuit thrown out.

Huawei’s market in the US has been very limited but the litigation will be monitored by other countries that are weighing whether to allow the company’s equipment in their 5G networks, said Ji Li, a law professor at the University of California in Irvine.

In par ticu lar, Huawei w i l l want to test what proof the US has that the company is a national security risk, according to Li. “There’s a lot of suspicion but

not a lot of solid evidence,” Li said in a phone interview.

Any such evidence won’t be pa r t of t he c u r rent l awsu it, which only deals with the constitutional question of whether Congress has the right to pass a law that singles out Huawei and ZTE as unwelcome business partners of the US government.

Hu awei has denied t hat its p ro du c t s c ou l d b e u s e d for espionage a nd has worked agg ressively to market its equip ment. Wireless car r iers across the globe are ex pected to spend bi l l ions of dol l a rs in t he coming years to upgrade to the new, faster st a nd a rd.

So far, few countries, including Australia and recently Poland, have been persuaded by the Trump administration to ban Huawei from their 5G infrastructures. Many other countries in Europe, Asia and Latin America have indicated they won’t ban the company’s equipment even though some may restrict use of Huawei products in core parts of their networks or increase security measures to safeguard against potential back doors.

Bloomberg News

Someone’s stacking bets a hard Brexit will make BOE slash rates

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HOULD a traumatic no-deal Brexit force the Bank of England (BOE) to slash interest rates in the months ahead, at least one investor will be laughing.

Money-market traders have quietly accumulated more than 1 million derivative contracts that will pay off if the United Kingdom central bank cuts rates by 50 basis points by September next year. These are call options that grant the right to take a long position in short-sterling futures—and after record volumes changed hands this week, the size of the holding is now more than seven times this year’s average daily turnover of such contracts.

The position was last boosted on Monday, when 323,000 calls were bought as UK Prime Minister Boris Johnson reiterated he won’t request an extension to the October 31 Brexit deadline.

The purchase was part of a so-called butterfly strategy,

which involves buying options with two different target prices and selling those with a strike in the middle.

Overnight indexed swaps, commonly used to gauge rate expectations, are currently pricing in just 17 basis points of UK rate cuts by the end of 2020.

The bet on big monetary easing comes just before this week’s BOE meeting, the last one before Britain’s scheduled exit from the European Union.

For now, the central bank is seen keeping policy unchanged as it awaits clarity on Brexit.

With time running out for the UK to secure a pact to ensure uninterrupted trade and business, European Commission President Jean-Claude Juncker has warned that the risk of a no-deal Brexit is now “palpable.”

Brexit uncertainty

“I HAVE been very surprised by the market’s lack of desire to position for BOE cuts with conviction,” said Peter Chatwell, a strategist at Mizuho International Plc.

Brexit-related economic uncertainty remains high with a new UK-EU trade pact still distant, while a recent pound rally has tempered imported inflation risks— these factors are boosting rate-cut odds, he said.

The buyers of shortsterling calls initially took positions in August targeting a 25-basis-point rate reduction by the BOE, after Johnson took over as leader of the UK’s ruling Conservative Party and vowed the nation will leave the EU in October with or without a deal.

More allocations were added later, moving the target to a half-point cut.

Most of the bets expire in December—a day before the BOE’s final meeting of the year—while the rest mature over March, June and September 2020.

It’s the midpoint of the butterfly structure—what traders call the body of the fly—that shows the trade

aims at large rate cuts. In Monday’s transaction, middle contracts due September 2020, were sold at implied yields more than 50 basis points below secondarymarket rates.

ICE exchange data for Monday showed two butterfly trades in shortsterling futures, involving purchases of 223,000 call options expiring March 2020 and 100,000 contracts due September next year. Total call-option turnover on short-sterling futures hit a record of almost 1.5 million for the day.

The UK central bank’s benchmark rate is currently at 0.75 percent, after a 25-basis-point increase in each of the last two years. It was last lowered in August 2016—by 25 basis points—in the aftermath of the Brexit referendum. The pound has slid about 6 percent in the past six months amid increasing investor anxiety about a nodeal Brexit. Bloomberg News

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Friday, September 20, 2019

The World BusinessMirror

A divided Fed reduces rates, may not cut again this year

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ASHINGTON—A sharply divided Federal Reserve cut its benchmark interest rate on Wednesday for a second time this year but declined to signal that further rate cuts are likely this year.

The Fed’s move reduced its key short-term rate—which influences many consumer and business loans—by an additional quarterpoint to a range of 1.75 percent to 2 percent.

The action was approved 7-3, with two officials preferring to keep rates unchanged and one arguing for a bigger half-point cut.

The divisions on the policy committee underscored the challenges for Chairman Jerome Powell in guiding the Fed at a time of high economic uncertainty.

The Fed did leave the door open to additional rate cuts—if, as Powell suggested at a news conference, the economy weakens. For now, he suggested, the economic expansion appears durable in its 11th year, with a still-solid job market and steady consumer spending.

At the same time, the Fed is trying to combat threats including uncertainties caused by President Donald Trump’s trade war with China, slower global growth and a slump in American manufacturing. The Fed noted in its statement that business investment and exports have weakened.

Financial markets closed mostly higher after the Fed’s afternoon announcement although the diverging opinions on the Fed left some investors uncertain how many more rate cuts the Fed will deliver. The Dow Jones Industrial Average after being down most of the day finished up 36.28 points, or 0.1 percent, to 27,147.08.

At his news conference, Powell

acknowledged that Fed officials are sharply divided about the wisest course for interest rates, especially given uncertainties, like trade conflicts, whose outcomes are out of the Fed’s control.

“This is a time of difficult judgments and disparate perspectives,” the chairman said.

In any case, many business leaders are skeptical that the Fed’s slight rate cuts will deliver much economic benefit.

Wednesday’s rate cut “makes virtually no difference to the US economy in and of itself,” said Jamie Dimon, CEO of JPMorgan Chase, who suggested, as many cor porate leaders have, t hat Trump’s trade war remains an overarching threat.

“I don’t think cutting rates will offset trade, personally,” said Dimon, head of the largest US bank.

Among Powell’s challenges is that the trade war’s uncertainties are likely affecting the nation’s economic data, making it hard for the Fed to set an interest rate policy for the months ahead.

“It doesn’t ma ke sense to commit to a path of policy today when monetar y policy is now responding to future developments in the trade policy,” said Bill Adams, a senior economist at PNC Financial Ser vices.

Wednesday’s modest rate cut irritated Trump, who has attacked the central bank and insisted that it sl a sh rates more ag g ressive ly.

T he president i m med i ately s i g n a l e d h i s d i s cont e nt :

Trump is biggest risk to world economy, says BSP governor

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H AT ’ S t h e b i g g e s t r isk to the world economy today? It’s t he US president, Phi lippine Central Bank Governor Benjamin Diokno told a panel discussion in Singapore, w ith the audience bursting into laughter at his candid answer.

A former economics professor who took the helm of the Central Bank in March, Diokno said the US economy is growing due to the ta x cut enacted under President Donald Trump, but the policy w ill exacerbate debt in the long run.

The Filipino central banker may have a reason for his quip: When the US sneezes, the rest of the world catches a cold, as the saying goes. The US-China trade war—with Trump objecting to many of the policies that have driven China’s rapid rise to become the world’s second-largest economy—has rippled through emerging Asia and threatens to start a global recession.

“Whatever Trump does is really driving the markets. It affects everyone else,” said Michael Ricafort, an economist at Rizal Commercial Banking Corp. in Manila.

Trumpian tweet

T R U M P, w h o w a n t s t o s e e

st ronger US econom ic g row t h a he a d of h i s re e le c t ion b id ne x t yea r, has been outspoken i n favor i ng more ag g ressive monet a r y- pol ic y ea si ng.

L a st week he t weeted t h at t he US Federa l Reser ve shou ld c ut rates to zero or less. O n Wed nesd ay, a f ter t he Fed lowered it s benc h m a rk i nterest rate for a second meet i ng i n a row, cutting by a quar ter-point to 1.75 percent to 2 percent, Tr u mp wa s u n i mpressed: “ No ‘g ut s,’ no sense, no v i sion! ” he t weeted.

Fed chief Jerome Powell has stressed the need for the US central bank to remain independent from government pressure. Analysts have described Wednesday’s move as a “hawkish cut,” emphasizing that the Fed essentially sees these moves as insurance for an economy that remains basically healthy. Three Fed members dissented from the decision to cut, suggesting an unusual amount of discord on the policy board.

Spea k i ng on a pa ne l at t he M i l k e n I n st it ute A s i a Su m m it i n Si ngapore, D iok no sa id Tr u mp’s pressu re on Powe l l i s “u n fa i r” a nd gover n ment s shou ld respec t cent ra l ba n k i nde pendence. Bloomberg News

“Jay Powell and the Federal Reserve Fail Again,” Trump tweeted.

“No ‘guts,’ no sense, no vision! A terrible communicator!”

Asked about Trump’s latest personal taunt, Powell declined, as he has before, to respond directly, while adding that the Fed’s long-standing independence from political pressures “has served the public well.”

Updated economic and interest rate forecasts issued Wednesday by the Fed show that only seven of 17 officials foresee at least one additional rate cut this year. And at least two Fed officials expect a rate hike next year.

None of the policy-makers foresee rates falling below 1.5 percent in 2020—a sign that the turbulence from a global slowdown and Trump’s escalation of the trade war is viewed as manageable.

The median forecasts show the economy is expected to grow a modest 2.2 percent this year, 2 percent next year and 1.9 percent in 2021. Those forecasts are well below the Trump administration’s projection that the president’s policies will accelerate growth to 3 percent annually or better. But they also suggest that policy-makers do not envision a recession.

Unemployment is projected to be 3.7 percent and inflation 1.5 percent, below the Fed’s target level of 2 percent.

A resumption of trade talks between the Trump administration and Beijing and a less antagonistic tone between the two sides have supported the view that additional rate cuts might not be necessary.

So has a belief that oil prices will remain elevated, that inflation might finally be reaching the Fed’s target level and that there are increasing signs that the US economy remains sturdy.

The job market looks solid, wages are rising, consumers are still spending and even such slug gish sectors as manufacturing and construction have

shown signs of rebounding.

Yet no one, perhaps not even the Fed, is sure of how interest rate policy will unfold in the coming months. Too many uncertainties exist, notably the outcome of Trump’s trade war.

Trump has meantime kept up a stream of public attacks on the central bank ’s policy-making, including referring to Powell as an “enemy” and the Fed’s policy-makers as “boneheads.” Even though the economy looks resilient, the president has insisted that the Fed slash its benchmark rate more deeply—even to below zero, as the European Central Bank has done—part to weaken the US dollar and make American exports more competitive.

The Fed is monitoring the global slowdown, especially in Europe, and Britain’s effort to leave the European Union. A disruptive Brexit could destabilize not just Europe but the US economy, too.

US inflation, which has long been dormant, has begun to show signs that it is reaching the Fed’s 2- percent target and might remain there. If the Fed’s policy-makers conclude that inflation will sustain a faster pace, it might give them pause about cutting rates much further.

The most serious threat to the expansion is widely seen as Trump’s trade war. The increased import taxes he has imposed on goods from China and Europe— and the counter-tariffs other nations have applied to US exports—have hurt many American companies and paralyzed their plans for investment and expansion.

In recent days, the Trump administration and Beijing have acted to de-escalate tensions before a new round of trade talks planned for October in Washington. Yet, most analysts foresee no significant agreement emerging this fall in the conflict. AP

Pompeo says US backs Saudi Arabia’s ‘right to defend itself’

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UBAI, United Arab Emirates—US Secretar y of State Mike Pompeo said on Thursday that America backs Saudi Arabia’s “right to defend itself ” after a weekend attack targeted the heart of its oil industry, comments coming after he described the assault as an “act of war.”

The attacks have reignited fears over a wider conflagration in the region, as tensions remain high over Iran’s collapsing nuclear deal with world powers.

Pompeo’s comments on Twitter came as he was in Jeddah, Saudi Arabia, after meeting with Crown Prince Mohammed bin Salman, the kingdom’s defense minister. The Saudis on Wednesday displayed missile and drone wreckage at a press conference, and cited other evidence they alleged shows the raid was “unquestionably sponsored by Iran.”

Iran, which has denied involvement in the attack, warned the US it will retaliate immediately if it is targeted.

Pompeo wrote his tweet early Thursday after his meeting with Prince Mohammed over Saturday’s drone and cruise missile attack on a crucial oil processing facility and oil field.

Yemen’s Iranian-backed Houthi rebels have claimed the attack, but the US alleges Iran carried out the assault.

Pompeo called the attacks “unprecedented.”

“The US stands with #SaudiArabia and supports its right to defend itself,” Pompeo said. “The Iranian regime’s threatening behavior will not be tolerated.”

Pompeo did not elaborate. President Donald Trump has been noncommittal on whether he would order US military retaliation. He separately said Wednesday he is moving to increase financial sanctions on Tehran over the attack, without elaborating.

Iran already is subject to a crushing American sanctions program targeting its crucial oil industry.

Pompeo was to next visit the United Arab Emirates to meet with Abu Dhabi’s powerful crown prince, Sheikh Mohammed bin Zayed Al Nahyan. The UAE is a close ally of Saudi Arabia and joined the kingdom in its war in Yemen against the Houthis.

The UAE announced Thursday it had joined a US-led coalition to protect waterways across the Mideast after an attack on Saudi oil installations.

The state-run WAM news agency quoted Salem al-Zaabi of the Emirati Foreign Ministry as saying the UAE joined the coalition to “ensure global energy security and the continued flow of energy supplies to the global economy.”

Saudi Arabia joined the coalition on Wednesday. Australia, Bahrain and the United Kingdom also are taking part.

The US formed the coalition after attacks on oil tankers that American officials blame on Iran, as well as Iran’s seizure of tankers in the region. Iran denies being behind the tanker explosions, though the attacks came after Tehran threatened to stop oil exports from the Persian Gulf. AP

www.businessmirror.com.ph

Japan central bank stands pat after Fed rate cut

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OK YO —Japan’s central bank opted on Thursday to keep its monetary policy unchanged despite the growing signs of trouble that prompted the Federal Reserve to cut its benchmark rate.

The Bank of Japan said in its policy statement that exports, industrial output and business sentiment had been affected by the slowdown in overseas markets.

The China-US tariff war has pummeled Japan’s exports. But the BOJ said strong corporate profits were supporting business investment.

The Federal Reserve reduced its key short-term rate—which influences many consumer and business loans—by a quarter-point to a range of 1.75 percent to 2 percent on Wednesday.

Fed Chairman Jerome Powell said the US expansion appears durable but if the economy weakens another rate cut was possible.

The BOJ’s key interest rate has been at minus 0.1 percent for years, while it has continued massive asset purchases to help inject money into the economy. So far, it has failed to attain the 2-percent inflation rate target it says is needed to help sustain growth.

The bank’s statement said that “downside risks concerning overseas economies seem to be increasing” and it will monitor the situation to see if momentum toward higher inflation is failing.

But given strains on banks and the potential impact on the Japanese yen it might not follow through on promises to act if necessary, Marcel Thieliant of Capital Economics said in a commentary.

He said that “concerns over the impact of looser policy on the health of banks have intensified. As such, we reiterate our view that the bank will keep its interest rate targets unchanged over the coming year.” AP

WORKERS refuel the tank at a gas station in Jeddah, Saudi Arabia, on Tuesday. US President Donald J. Trump declared on Monday that it “looks” like Iran was behind the explosive attack on Saudi Arabian oil facilities. AP/AMR NABIL

Oil price drops for second day despite intense Gulf tensions

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EW YORK—Oil prices retreated for a second day on Wednesday even as the Saudi military blamed Iran for recent attacks to critical oil infrastructure and US Secretary of State Mike Pompeo called the strike an “act of war.”

Benchmark US crude fell 2 percent to close at $58.11 per barrel.

It fell nearly 5.7 percent Tuesday.

It was another day of volatile, unpredictable trading—a taste of the new normal—after Saudi officials said oil production halted by weekend attacks would be fully restored within weeks.

Brent crude, the international benchmark, fell 1.5 percent to $63.60 per barrel.

A day of heightened tensions in the Persian Gulf normally would send oil prices higher, but fears of an economic slowdown and the decision by the Federal Reserve to cut interest rates sent stocks lower across the board.

The weekend attack on Saudi Aramco’s processing facility in Abqaiq pushed crude prices up more than 14 percent Monday, a spike equivalent to the Iraq invasion of Kuwait before the 1991 Gulf War. The attack led to a 5-percent drop in global output, but Saudi Arabia said it would be restored by the end of the month.

Average gasoline prices in the US were $2.65 for a gallon of regular on Wednesday, up from $2.59 on Tuesday and $2.56 a week ago.

Experts following the oil drama expect the price ping-pong to continue, and some say the current oil price isn’t fully reflecting the degree to which the recent attack exposed just how susceptible Saudi Arabia’s oil assets are to attack.

“This is a world where Saudi production is now vulnerable, and we weren’t there a week ago,” said Shin Kim, head of supply and production analytics at S&P Global Platts. “We’re going into

this very tight period with little to no spare capacity, and the Saudis are drawing down crude stocks pretty significantly. I don’t think this issue will go away as quickly as prices suggest.”

Some industry watchers doubt Saudi Aramco will be able to fully restore production by the end of the month.

“With the magnitude of damage to the Saudi oil infrastructure, I’m just surprised that they could assess all that within two days or so,” said Jim Ritterbusch, president of Ritterbusch and Associates. “I think that there’s possibly going to be a longer recovery time than what they’re suggesting.”

The International Energy Agency says that it’s not yet considered releasing emergency stocks of crude to offset the drop in output caused by the weekend attacks on Saudi oil installations, because oil markets remain well supplied.

Yemeni rebels claimed responsibility, but US officials said they suspected Iran, Saudi Arabia’s regional rival. On Wednesday, the Saudis put on display what it said were Iranian cruise missile and drones used in the attack.

A n esc a l at ion i n tensions between the US and Iran could push the oil price up again. The cost for a barrel of US crude is up 30 percent this year and it has yet to return to price levels before the attack Monday, which exposed the vulnerability of Saudi Arabia’s key oil assets.

Saudi Arabia said Wednesday it was joining a US-led coalition to secure the Mideast’s waterways.

The coalition, which includes Australia, Bahrain and the United Kingdom, was formed by the US after attacks on oil tankers that American officials blame on Iran, as well as Iran’s seizure of tankers in the region. Iran denies any connection to the attacks on tankers. AP

www.businessmirror.com.ph

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Dunkin’ Coffee Day fills Filipinos with good vibes

Energy rediscoved with the new LeGarde L-Carnitine supplement

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he LeGARDE Health and Wellness Expo, which took place on September 6-8 at the Globe Ampitheater, Bonifacio Global City, successfully launched LeGARDE— an L-Carnitine supplement made with Carnipure™ and Licaps® fusion technology.

“Multitasking is a thing nowadays.

You can be a corporate guy in the morning and a DJ by night. But the motivation to commit in all these things can be as elusive as the energy to do it all. And I can’t think of a better time to jumpstart your journey to better energy optimization than today,” says yg Sibulo, President of McGraw Pharma Inc. “L-Carnitine occurs naturally in your body. It plays an important role in converting stored fat into a source of usable energy. Carnipure is a grade of L-Carnitine that is highly versatile and used in a wide range of different applications.

The 3-day event also featured

healthcare professionals, Dr. Raoul Felipe and Dr. Helen Ong-Garcia, who facilitated a more deep dive L-Carnitine discussion.

During the event, guests were also able to experience different activities with other energy enthusiasts like Katarina

Rodriguez, Ben Wintle, Aubrey Miles, Charles Tiu, and Patty Laurel.

Visit www.legarde.com.ph for more details. Follow Legarde L-Carnitine on Facebook and @legardeph on Instagram for more exciting news.

L-R Charles Tiu, Aubrey Miles, Mike Jiang, Patty Laurel, Ben Wintle, Ron Poe, Nico Bolzico, Robbin Nambayan

World Philosophical Forum held to promote peace and unity in diversity

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he World Philosophical Forum aimed at promoting peace and unity in diversity all over the world was held for the first time in the Philippines on September 15 at the Century Park Hotel in Malate, Manila. The general goal of the WPF activity is to establish and multiply the new identity of human beings based on wisdom, reason and morality.

Founded by Igor Kondrashin, the WPF officials and members gathered together in Manila and discussed and address the challenges and issues the Philippines are facing, which includes poverty, hunger, education, and insurgency, as well as, issues with politics. Around 1, 200 individuals attended the event organized by WPF Chairman of the Philippine branch Albani Shariff Ibrahim.

There can be no UNESCO without philosophy.

In 2005 and for the first time in its history, UNESCO adopted an Intersectoral Strategy on Philosophy, aiming to establish an institutional framework for its programme in favor of this key discipline in the Social and Human Sciences Sector.

It was upon the initiative of Turkey that the project of a strategy concerning philosophy was submitted to the Executive Board of the Organization.

The Intersectoral Strategy on Philosophy aims precisely at conveying this dynamic into concrete activities that will boost cooperation and the reciprocal enrichment between philosophers of various regions of the world. Three main pillars of action were thus identified in order to respond

in a more appropriate way to the expectations of philosophy experts and advocates of this discipline: (i) The promotion of dialogue and philosophical analysis of contemporary questions, a pillar whose priority is the establishment of networks among philosophers, as well as a large public disclosure of the key outcomes of reflection that should influence major decision making in todays societies, such as the concepts of justice and citizenship, the ethical requirements in the field of sciences or the evolution of the history of philosophical ideas, (ii) The encouragement of the teaching of philosophy whose crucial role for the development of a free and well informed thought must constantly be underlined, as well as the rigor in the teaching of this discipline in order to guarantee philosophys total independence and relevance, and (iii) The promotion and dissemination of philosophical knowledge in order to make sure that philosophy is accessible to all.

By adopting this Strategy, UNESCOs aim was to put together the programmes developed in this field in a coherent and methodological framework that would follow an integrated and intersectoral procedure aimed at tackling the greatest number of problems challenging the world today.

It is the duty of philosophy to extend beyond its own field in order to enlighten all other disciplines as much as possible, thus contributing to the refining and renewal of the analysis of world problems and ongoing changes in all societies.

World-class art experience at The Podium. The internationally acclaimed masterpieces of Singapore’s leading artist Master Sun Yu Li and globally renowned glass sculptor Ramon Orlina were recently showcased during the Sun Yu Li x Ramon Orlina exhibit held at The Podium. A portion of the proceeds will benefit The Parc Foundation which aims to help nurture the local performing arts industry, including offering classes for underprivileged kids through their PARCaralan program. At the exhibit launch were, from left: The Performing Arts and Recreation Center board of trustees John Gan, Rodel Colmenar, William Guido and Issay Nodalo, Art Lounge Manila managing director Sussane Tiausas, Master Sun Yu Li, Ramon Orlina, Keppel Philippines Properties president Oh Lock Soon, Millet World Philippines executive director Bobby Kok, and SM Supermalls assistant vice president for operations Ian Mathay.

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magine showbiz icon Piolo Pascual standing right in front of you, giving you a free cup of Dunkin’ Coffee and filling you with all kinds of good vibes you never saw coming. This is not a scene from a movie but the experience of some very lucky people during the annual Dunkin’ Coffee Day recently.

Now on its third year, the event aims to spread more good vibes to the people who get their usual coffee fix at Dunkin’ Donuts.

The handsome actor visited three stores and served coffees at Dunkin’ Donuts

Strata, Fisher Mall Quezon Ave. and BGC 25/7 branches Meanwhile, the rest of the nation celebrated the coffee day by proclaiming “Half Half Hooray!” giving out medium hot or iced Dunkin’ Coffee, for only P25 or 50% off the original price. Needless to say, customers lined up to get their fill of that Dunkin’ Coffee Feelin’.

If you missed this year’s Dunkin’ Coffee Day, don’t fret because this event will come back even bigger and better next year.

IRAN SUSPENDED, REFEREE BANNED Sports

IRAN’S Saeid Mollaei (top) competes against Kazakhstan’s Didar Khamza during their men’s -81kg final match at the 18th Asian Games in Jakarta in August last year. AP

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| Friday, September 20, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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AUSANNE, Switzerland—Iran has been suspended from international judo competitions because it boycotts bouts with Israeli athletes.

Less than a month after world champion Saeid Mollaei walked off the Iranian team in protest of the boycott policy, the International Judo Federation (IJF) said Wednesday that Iran is suspended ahead of a full hearing.

Iran’s judo federation is accused of discriminating against Israeli athletes and breaking rules over manipulating competition results.

“The IJF Executive Committee considered that such a conduct is intolerable,” the federation said.

Mollaei has said he was repeatedly ordered by Iranian officials to lose matches or withdraw from competitions, including last month’s world championships, so as not to face Israelis. He is currently in hiding in Germany.

The president of Iran’s judo federation, Arash Miresmaeili, condemned the IJF for suspending it and called it “hasty and unfair,” semiofficial Mehr news agency reported Wednesday.

Miresmaeili said the IJF sent an e-mail on September 13 and asked Iran to send a report to defend itself, “Unfortunately, once we saw the World Federation’s e-mail today, it is completely apart from the routine...”

Iran does not recognize Israel as a country, and Iranian sports teams have for several decades had a policy of not competing against Israelis.

IJF Spokesman Vlad Marinescu said any ban won’t apply to next year’s Tokyo Olympics. That’s because it’s the Iranian Olympic Committee, not the Iranian judo

federation, that formally enters the Olympic team.

Meanwhile, the IJF is exploring ways to allow Mollaei to compete on the International Olympic Committee’s team of refugees.

The IOC has signaled a harder line on boycotts in recent years.

In June, IOC President Thomas Bach criticized governments who “clearly abuse sport for their political purposes,” noting a case in May of a Tunisian court blocking four Israelis from competing at the taekwondo junior world championships.

WRESTLING REF BANNED 2 YEARS

SHOWN is a file image made from a video provided by snjtoday.com where Buena Regional High School wrestler Andrew Johnson gets his haircut at courtside minutes before his match in December last year. AP

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TIGER WOODS has signed a deal with Discovery last December in which he gives exclusive content to GolfTV. AP

IN Trenton, New Jersey, a referee who told a New Jersey high-school wrestler to cut his dreadlocks or forfeit a match last year was suspended by the state for two seasons Wednesday, and officials also announced mandatory bias training for all referees and coaches involved in high-school athletics.

Referee Alan Maloney, who is white, told Buena Regional wrestler Andrew Johnson, who identifies as multiracial, that he had to cut his hair or forfeit the match last December. A widely disseminated video showed Johnson’s hair being cut on the sidelines.

The state Division on Civil Rights investigation found that Maloney determined that Johnson required a hair covering and gave Johnson the choice of cutting his hair or forfeiting after no covering could be located that satisfied rules governing long hair.

The report concluded, however, that various New Jersey wrestling officials had interpreted the rule to apply to various traditionally black hairstyles regardless of length.

The agreement between the civil rights office

and the New Jersey State Interscholastic Athletic Association announced Wednesday seeks to eliminate interpretations of the rule “that allowed wrestling officials to determine that traditionally black hairstyles were ‘unnatural’ or to subject wrestlers with traditionally black hairstyles to differential treatment as to when a hair cover was required.”

As part of Wednesday’s agreement, the athletic association will provide in-person training to all wrestling officials in the state before the start of the season to emphasize that the rule in question is based on hair length, not hairstyle.

By the end of the 2020-2021 school year, the association will provide implicit bias training to all highschool officials and require schools to provide similar training to administrators, coaches and trainers.

Maloney had been barred from officiating while the investigation proceeded. In March, he filed notice that he planned to sue for defamation and emotional distress. His lawyer did not immediately respond to a phone message seeking comment on Wednesday.

In an e-mail Wednesday night, Dominic Speziali, an attorney representing the Johnson family, praised the investigation by New Jersey Attorney General Gurbir Grewal and wrote, “we hope that no athlete going forward will be forced to sacrifice their identity for the opportunity to compete.”

Maloney came under fire in 2016 for using a racial slur against a black referee, according to the Courier Post newspaper. Maloney told the newspaper he did not remember making the comments. After the incident was reported, he agreed to participate in sensitivity training and an alcohol awareness program. A one-year suspension was overturned. AP

WOODS IN ‘JAPAN SKINS’ GAME TO BE SHOWN LIVE WORLDWIDE

IGER WOODS is playing another skins game with two big differences. This one is in Japan and will be broadcast live around the world by Discoveryowned GolfTV. The exhibition is called “The Challenge: Japan Skins,” and it will be played October 21 leading into the Professional Golfers Association (PGA) Tour’s first official event in Japan.

It features four of golf’s biggest names from each of their continents—Woods, Rory McIlroy of Europe, Jason Day of Australia and Japanese star Hideki Matsuyama.

“This is our opportunity to think outside the box,” said Alex Kaplan, president and general manager of Discovery Golf. “We’ll put guys in different situations, and it will be a surprise to them what they are.

There’s going to be some fun tweaks these guys

aren’t used to.”

Woods played four times in the original Skins Game, which had become a Thanksgiving weekend tradition in the California desert until it began losing star power and was held for the last time in 2008, three years after Woods’s final appearance. He never won in four tries.

“After discussing ‘The Challenge’ with Discovery and GolfTV, I wanted to be a part of it,” Woods said. “I haven’t been back to Japan since 2006 and the golf fans there are some of the best in the world. It’s a unique format and a top field with Rory, Jason and Hideki. I can’t wait to play against them on a global stage.”

Woods signed a deal with Discovery last December in which he gives exclusive content to GolfTV. Discovery last year agreed to a 12-year, $2 billion deal with the PGA Tour to deliver golf content direct to consumers in 220 markets outside the United States.

Because the PGA Tour is sanctioning the event, it will be shown on Golf Channel in US markets.

The biggest challenge was figuring out when to play.

Because the event will be shown on demand for free around the world—fans in the UK and Ireland will be have to subscribe because of existing rights deals—Discovery Golf determined that a 1 p.m. start at Accordia Golf

Narashino Country Club in Chiba would be the best fit.

That means it will start at midnight Sunday in the eastern US after the National Football League is over, and 9 p.m. on the West Coast. It will start in the early morning of Europe. Australia is one hour ahead of Japan.

“There’s not a perfect time,” Kaplan said. “You map out where the key markets are and what’s possible on the course and do your best possible. It’s where you drive the most viewership, and then you look at when the sun goes down.

We could have started in the morning, but Japan and Asia are important markets for Discovery. We had to make sure we had it at a meaningful time. The lunch hour does that, particularly for streaming.”

Kaplan said some 3,000 fans are expected on the course, many of them as guests, others allowed to buy tickets.

Because of limited October daylight, he said lights would be erected on the last few holes if needed.

McIlroy, who has a similar partnership as Woods with NBC Sports Group, was intrigued by the format and the field.

“Playing with Hideki on his home turf, Tiger coming back to Japan with a green jacket, the motivation is certainly there for me,” McIlroy said. “And I’m a huge fan of the skins format. I love the way it rewards attacking play and think it suits my game quite well. The other fun thing about skins is

how you find yourself rooting for the other guys if you’re not in a position to win the hole.”

Players need to win a hole outright, or it carries over to the next hole. Total prize money is $350,000—$10,000 per skin for the opening six holes, $20,000 for the next six holes, $20,000 through the 17th hole and $100,000 for the 18th.

There also will be charitable component.

Still to be revealed are the announcing crews. Kaplan said the Japan Skins will be produced in Japanese and English.

It starts what figures to be a big week in golfcrazed Japan. The Japan Skins is at the front end of the ZoZo Championship, the first official PGA Tour event in Japan, with a field expected to include Woods, McIlroy, Matsuyama, Day, Justin Thomas and possibly Jordan Spieth. Japan is in the middle of a three-week Asia swing, with South Korea at the front end and the HSBC Champions in Shanghai as the anchor.

Kaplan said more specialty events on GolfTV are likely.

“We want to continue doing things like this, presenting golf in new and interesting ways,” Kaplan said. “I’m super excited about the production. We’re not going to rely on each player to tell their story. We’ll make it fun and interactive, but we’ll help these guys be fun and interactive.” AP

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SAKA, Japan—Top-seeded Naomi Osaka reached the quarterfinals at the Pan Pacific Open by beating qualifier Viktoriya Tomova, 7-5, 6-3, on Wednesday.

Osaka, who was broken twice early in the match, is looking to win her first title in her hometown after finishing runner-up in 2016 and 2018.

She will next meet either Yulia Putintseva or Russian qualifier Varvara Flink.

Also, fourth-seeded Angelique Kerber won her first match since Wimbledon, beating American qualifier Nicole Gibbs, 6-2, 6-4.

“The goal now is to finish the year, as well as I can, to put all the energy which I have into this run in Asia and to play well in the next few weeks,” Kerber said.

Kerber will next face Madison Keys, who

defeated Zarina Diyas, 5-7, 6-0, 6-4.

“I know Madison really well, so I know what to expect,” Kerber said. “It will be interesting. We both know we have to play our best against each other.”

Elise Mertens also advanced, beating Hsieh Su-Wei, 6-3, 1-6, 6-2.

At the Korea Open in Seoul, second-seeded Ekaterina Alexandrova recovered well to beat Kristyna Pliskova, 3-6, 6-3, 6-4, and reach the quarterfinals.

Alexandrova will next play Kristie Ahn. The American advanced by beating Ana Bogdan of Romania, 0-6, 6-4, 7-6 (2).

Magda Linette also reached the quarterfinals, defeating Anastasia Potapova, 7-5, 7-6 (4). The fourth-seeded Linette will next meet Kirsten Flipkens, who upset seventh-seeded Margarita Gasparyan, 6-3, 7-5.

At the Guangzhou International in China,

Marie Bouzkova of the Czech Republic advanced to the quarterfinals after top-seeded Elina Svitolina retired due to pain in her right knee when the Ukrainian was trailing 6-4, 4-3.

Third-ranked Svitolina received medical treatment at 3-2 in the second set and then came back to hold for 3-3. But she was still struggling with her knee and after saving two of three break points at 4-3 she finally retired.

Third-seeded Sofia Kenin of the United States moved into the last eight by beating Katarina Zavatska, 6-4, 6-2.

Kenin will take on qualifier Jasmine Paolini after the Italian upset sixth-seeded Saisai Zheng, 7-5, 3-6, 7-5.

Viktorija Golubic came back to beat Katerina Siniakova 4-6, 7-5, 6-0 and will take on Shuai Zhang of China in the quarterfinals after the fourth-seeded player beat Andrea Petkovic 7-5, 6-4. AP

OSAKA IN QUARTERS

Beijing unveils smiling panda for 2022 Games

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EIJING—A smiling panda and a walking Chinese lantern will be the mascots for the 2022 Winter Olympics and Paralympics in Beijing.

The mascots were revealed Tuesday at a ceremony at the Shougang Ice Hockey Arena in the Chinese capital.

Beijing Mayor Chen Jining described them as adorable, unique and exquisite.

“In a visually appealing way, they epitomize our aspiration for the Beijing 2022 Games, and extend our warm invitation to friends throughout the world,” he said.

The panda, named Bing Dwen Dwen, is the Olympic mascot. Colorful circles around its face symbolize skating tracks and 5G technology, according to the web site of the Beijing organizing committee. Bing, the Chinese word for “ice,” shows purity and strength, while Dwen Dwen means sincerity, liveliness and health, the web site said.

The choice of the iconic animal, considered the national treasure, was not a surprise to people in China. While many acclaimed Bing Dwen Dwen for its cuteness on social media, some were not impressed by the lack of creativity in choosing a panda.

The giant panda was one of the five mascots for the 2008 Beijing Summer Olympics, and it also was the symbol for the Asian Games in Beijing in 1990.

“Today is an important step on a milestone in Beijing’s journey to make history as the first ever, in Olympic history, to host both summer and winter editions of the Olympic Games,” International Olympic Committee President Thomas Bach said at the ceremony.

Based on a traditional red lantern, Paralympic mascot Shuey Rhon Rhon creates the cheerful atmosphere of the Chinese Lunar New Year, which will fall around the time of the Winter Games, the organizing committee said.

It sports a yellow scarf, a circle of yellow doves around its head and a traditional Chinese paper cutting. “Shuey” means snow in Chinese and the characters for “Rhon Rhon” mean “inclusiveness” and “integration,” implying the world civilizations communicating among one another and living in harmony, the committee said.

The two mascots were selected from more than 5,800 submissions from 35 countries. AP

EYES ON THE BALL

Japan’s Kasumi Ishikawa plays against China’s Chen Meng during their women’s final match at the International Table Tennis Federation-Asian Table Tennis Union Asian Table Tennis Championships at the Amongrogo Stadium in Yogyakarta, Central Java, Indonesia, on Tuesday. AP

4D FOR TAEKWONDO

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ORLD Taekwondo President Chungwon Choue believes that 4D cameras being introduced for Tokyo 2020 will bring added excitement to the sport.

The technological innovation will make its debut on the biggest stage at next year’s Olympic Games in the Japanese capital.

Fans and judges will be able to enjoy 360-degree replays of the athletes’ moves thanks to the 4D camera rig.

This, it is hoped, will provide more memorable

moments for supporters while also eliminating controversial moments from the judging.

“The system will excite many people, just like it excited me two years ago when we tested it for the first time,” Choue told the Korea Times.

“I’m sure of its success at Tokyo,” he added. “Not only that, it will also make World Taekwondo’s scoring system even fairer by eliminating blind spots.”

The camera system was first used at the World Taekwondo Grand Slam Champions Series in Chinese city Wuxi last year. Insidethegames

orts

sMirror

Friday, September 20, 2019 C3

ABABA GOES UP J

HONNEL ABABA pulled off a rare two pitch-in eagle feats to spike a second straight 67 as he broke off a tie with Tony Lascuña to seize a two-stroke lead over a charging Zanieboy Gialon halfway through the International Container Terminal Services Inc. (ICTSI) Del Monte Championship at Del Monte Golf Club in Manolo Fortich, Bukidnon, on Thursday.

Ababa sustained a bogey-free start Wednesday with a birdie-eagle charge on the first two holes but went on a roller-coaster ride from there, fumbling with four bogeys against the same number of birdies although his other eagle on the par-four 10th and superb putting kept him on top at 10-under 134.

“My putting clicked although I misread some putts that led to bogeys,” said Ababa, who highlighted his 33-34 card with a brilliant 60-degree wedge shot from 70 yards that dropped in on No. 2 and a 56-degree feat from 90 yards that rolled into the cup on No. 10.

In control of the stellar field, Ababa vowed to keep attacking the mountaintop course that virtually lay defenseless in the absence of the wind, enabling 23 others to turn in under-par

scores for the second straight day.

“I’ll still go for eagles tomorrow [Friday], hopefully at the par 5s,” added the most successful player on the Philippine Golf Tour (PGT) Asia with four victories.

Gialon, still in hunt for a first PGT crown since dominating the field by six at Calatagan, Batangas, in 2017, sizzled with six birdies in a 10-hole stretch from No. 4 and shot the tournament-best 65 in hot conditions to wrest solo second at 136 for a spot in the final group in today’s pivotal round of the P2.5-million tournament serving as the seventh leg of the 10th season of the circuit put up by ICTSI. “Finally, I got my game going,” said Gialon, who birdied the first two holes then rebounded from a bogey on the third with three straight birdies from No. 4 and added three more on Nos. 9, 11 and 13. “ I could’ve shot better if not for missed putts on the last two par 5s.”

Lascuña also gunned down two eagles but on the layout’s par 5s at the back (Nos. 14 and 18) but shot just two birdies against four bogeys and settled for a 70 as he dropped to joint third at 137 with unheralded Elmer Saban and a steady Ira Alido, who carded 68 and

69, respectively, heading to the last 36 holes of what looms to be a fiery shootout among the best and the brightest plus a couple of surprises.

Fil-German Keanu Jahns fired a 68 for solo sixth at 138, while Johvanie Abaño bounced back from an opening 73 with a 66, including five birdies at the front, to take the cudgels for the local talents. Joining him at 139 are Richard Sinfuego and Dutch Guido van der Valk, who both shot 69s.

Noel Langamin, who led Del Monte’s Interclub title romp in 2011, missed joining Abaño at seventh with a late bogey mishap at the front, finishing with a 68 and dropping to joint 10th with Greg Gonzales of the US, who turned in a second 70, and reigning Philippine Open champion and top local favorite Clyde Mondilla, who carded a 69.

Juvic Pagunsan, eyeing a record fifth PGT victory after a sweep of four tournaments in Bacolod, Negros, Iloilo and Riviera, checked his skid in time, hitting an eagle on the par-5 No. 7 and holing out with a birdie on the ninth to save a 73 for a 142, eight strokes behind Ababa.

Reymon Jaraula, who scored a

Marcial last Filipino standing in Russia

breakthrough at Pueblo de Oro last week, likewise, battled back from a disastrous 74 with a 69 but remained too far behind the lead at 143.

Forty-one players advanced to the final 36 holes of the event organized by Pilipinas Golf Tournaments Inc. with Jay Bayron (76), Mel Cubillo (73), Mhark Fernando (75), Japanese Kanata Nakagawa (75) and Argentina’s Emilio Parodi (76) barely making the cut at 148 in the event backed by Custom Clubmakers, Meralco, Champion, Summit Mineral Water, K&G Golf Apparel, BDO, Sharp, KZG, PLDT and MY Shokai Technology Inc.

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UMIR FELIX MARCIAL survived Iran’s Seyedshahin Mousavi on Wednesday to advance to the semifinals of the middleweight (75 kgs) class of the International Boxing Association Elite Men’s World Boxing Championships in Ekaterinburg, Russia.

The Airman from Zamboanga City earned the nod of all five judges who turned in 30-27 cards, giving all three rounds to Marcial.

Flyweight Carlo Paalam was not as fortunate though after he lost a close split decision to 2018 Asian Games gold medalist Amit Panghal of India.

Earlier in the tournament, featherweight Ian Clark Bautista crashed out of the eliminations in his second fight—a split decision against Argentina’s Mirko Cuello— while nursing a fever.

Only 25 countries of the original 78 had boxers in the quarterfinal round. Host Russia and Kazakhstan have seven boxers each, Cuba and England six apiece, while Uzbekistan has five in the round.

The Philippines along with the United States, Azerbaijan and Brazil each had two boxers in the quarterfinals. No other Southeast Asian country was able to make it to the round.

Curiously, Asian powerhouse China failed to qualify even one boxer to the quarterfinals.

Japan and Mongolia each has one and the two Koreas—North and South—none.

Marcial will face Kazakhstan’s Tursynbay Kulahkmet, who is seeded third in the tournament, on Friday. Thursday was rest day.

JHONNEL ABABA builds two-shot lead on two eagles.

ROY DOMINGO

Red Lions soften Bombers, extend winning streak to 12

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By Ramon Rafael Bonilla

AN Beda University locked down on defense in the second half to fend off Jose Rizal University (JRU), 65-47, in the National Collegiate Athletic Association Season 95 men’s basketball tournament on Thursday at the Filoil Flying V Centre in San Juan City.

From a mere four-point lead at the end of the third, the reigning titlists leveled up on both ends for an 18-4 run that the Bombers could not survive.

James Canlas topscored for the Red Lions with 18 points laced with seven rebounds and two assists for the Red Lions who roared to their 12th straight victory.

“Our defense in second half propelled us to this win.

We played defense first and our offense just came in,” San Beda Head Coach Boyet Fernandez said. “But we should be consistent from start to finish. Lesson learned for us again.”

JRU actually caught San Beda flatfooted and even had them trailing, 31-27, at the half.

Agem Miranda and John Amores were instrumental for the Bombers in the first half. They combined for 18 points to give their team some momentum heading into the third quarter.

But Calvin Oftana had other plans and scattered 10 of his 12 points in the third quarter, highlighting a 16-0 run that bridged the third and fourth periods for a 58-43 San Beda lead.

In the fourth, it was all San Beda as the Red Lions put premium on defense.

It was only in the final three-minute mark that JRU found the basket—the only field goal made in the final frame.

Oftana added seven boards and three assists, while Evan Nelle and Donald Tankoua finished with 11 and 10 points, respectively, for San Beda.

Miranda finished with 14 points for the Bombers, while Amores added 11. JRU had 26 turnovers as it fell to its eighth loss in 12 games.

Saints rip Scorpions, close in on Finals

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JOSE Rizal University’s John de los Santos (2) and San Beda’s Donald Tankoua (10) battle for the ball. NONOY LACZA

SUZARA STAYS So how many are involved in the PHL SEA Games?

AS C.O.O. C

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HILIPPINE Southeast Asian Games Organizing Committee (Phisgoc) Chief Operating Officer Ramon “Tats” Suzara stays in his post, according to an official memo secured by the BusinessMirror on Thursday.

In a letter dated September 18, Phisgoc official Jojit Alcazar clarified that Suzara was simply on official leave to attend to his official engagement in the International Volleyball Federation Women’s World Championship in Tokyo.

Suzara holds a sensitive post in the FIVB. In his absence, Alcazar was named COO officer in Charge.

Reports surfaced in recent days that Suzara was replaced merely 10 weeks before the 30th SEA Games commence from November 30 to December 11.

“Mr. Ramon Suzara remains as the Chief Operating Officer of the Philippine Southeast Asian Games Organizing Committee,” Alcazar wrote.

“He is currently on official leave from September 11 to 30, I have been designated as the officer in charge of Phisgoc during the COO’s absence. To date, the current organization chart remains the same,” he added.

Alcazar asked top Phisgoc officials to go on with their tasks and stay on track for the Games.

“As we draw closer to the Games, all officials of the top management and the respective officials and members of all functional areas should perform their regular duties and functions,” the memo added.

Earlier this week Phisgoc Chairman Alan Peter Cayetano considered replacing Suzara from his position because of his commitment to FIVB. Cayetano discussed a possible creation of an executive committee that will oversee the day-to-day operations of Phisgoc. Ramon Rafael Bonilla

LOSE to 11,000 athletes and officials are up for accreditation for the 30th Southeast Asian Games.

The figures are expected to jack up even more when national Olympic committee officials, media and official guests—plus dignitaries and sponsors—are included in the list.

Alona Quintos, Philippine SEA Games organizing committee director of accreditation and uniforms,

said on Thursday said at least 35,000 individuals are expected to apply for accreditation.

The deadline for accreditation is set on September 30.

According to Quintos, 9,552 have been screened while 8,213 personnel have been granted access to the 11-nation Games to be held at the New Clark City in Tarlac, Subic, Metro Manila, Tagaytay City, Batangas, Laguna, Cavite

and La Union from November 30 to December 11.

“We are closely coordinating with the Security Department to ensure that everyone who gets accredited have cleared all security protocols,’’ Quintos said.

Quintos said that the printing of pre-valid accreditation cards (PVAC) of the 11 national Olympic committees would commence at the end of the month. She added that around 1,500 journalists,

KIDS PLAY IN DAVAO CITY

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ROUND 120 participants climbed mountains and waded through a river only to join the Happiness Project Mindanao-initiated Philippine Sports Commission (PSC) Sports for Peace Children’s Games at the Barangay Tawantawan covered court in Baguio District in Davao City recently.

The Happiness Project Mindanao incorporated a tree-planting activity near Panigan River before Larong Pinoy games were played by the children.

“Children from the outskirts of Barangay Tawantawan were fetched because it was hard for them to come to the barrio center,” PSC Mindanao cluster head Ed Fernandez said.

“They wade through rivers, climbed mountains, rode precariously in trunks and walked kilometers of dirt road to be at the multipurpose gym,” he added.

Of the 120 children who came,

80 percent were indigenous peoples, particularly Manobos. Barangay Tawantawan is a remote barangay in the third district of Davao and is home to the IPs and city’s watershed.

Happiness Project Mindanao Director EJ Fernandez led the plant-and-play activity in partnership with the PSC. PSC Chairman William Ramirez, in a recent meeting with PSC Mindanao staff in Davao City, reiterated President Duterte’s directive to bring sports to the grassroots level.

Children’s Games series legs in Davao region were also held in New Bataan in Compostela Valley with 200 participants, Lower Tamugan in Davao City also with 200 kids and Malita in Davao Occidental with 250 children.

Up next will be the Children’s Games in Agdao in Davao City on September 28 and in Maragusan also in Compostela Valley on September 27 and 28.

PURE joy is seen in the faces of the kids.

photo journalists, videographers and broadcast personnel will comprise the covering media.

“We have set up a specific lane for every client group such as media, athletes and officials, etc. We want to make the experience of getting an accreditation as easy and comfortable as possible,’’ Quintos said.

The World Trade Center in Pasay City will be the Main Accreditation Center while the Asean Convention Center in Clark will serve both Clark and Subic clusters. The Main Accreditation Center will begin operations on November 20.

RT Sumisip Basilan-St. Clare repulsed Centro Escolar University (CEU), 86-70, to move a win away from the Philippine Basketball Association Developmental League Foundation Cup Finals on Thursday at Ynares Sports Arena in Pasig.

Malian slotman Mohammed Pare paced the Saints with 19 points and seven rebounds in the victory that put them in a prime position to sweep the best-of-three semifinal series.

Joshua Fontanilla filled up the stat sheet with 14 points, six assists and five rebounds, while Junjie Hallare and Jhaps Bautista provided 11 and 10 points, respectively, for the Saints.

“We were aggressive from the start,” Coach Stevenson Tiu said. “We expected them to be more aggressive, but they weren’t.”

The Saints took hold of the match with an 11-0 blast bridging the middle quarters to turn a narrow 40-37 second quarter lead to a 51-37 advantage with 9:12 remaining in the third period.

Yet, it wasn’t smooth sailing all the way as BRT Sumisip-St. Clare thought it would. CEU knocked the lead down to just five, 55-50, with 4:28 to go in the third frame.

But Bautista and Leo Gabo made sure that the win was in the bag and took over in the payoff period to give the Saints a commanding 82-64 lead with 3:04 remaining and cruise to their eighth straight victory.

BRT Sumisip-St. Clare aims to finish things off in Game Two on Monday.

Senegalese center Malick Diouf carried CEU with 12 points, 15 rebounds, six steals, four assists and three blocks.

Jerome Santos was the only other doubledigit scorer for the Scorpions with 11 points.

Kovalev eager to face Alvarez

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ERGEY KOVALEV was considered by some to be washed up after he lost two straight fights to Andre Ward, the second by knockout. He got stopped again a few fights later, then had to rally in his native Russia to stop Anthony Yarde and retain his 175-pound title just last month.

His reward for persevering through adversity? A November 2 fight with Mexican star Canelo Alvarez that Kovalev believes will be his best ever.

“I already have experience at this level and am much smarter,” Kovalev said Wednesday. “I think this fight is going to be more interesting than my previous fights.”

Alvarez will move up two weight classes to challenge Kovalev for his light heavyweight title on November 2 in Las Vegas in a fight loaded with intrigue.

For Alvarez, it’s a chance to win a title in his fourth weight class and cement his standing as the biggest attraction in boxing. For the 36-year-old Kovalev, it’s an opportunity to prove the critics wrong and win the biggest fight of his career.

“Canelo is a real fighter,” Kovalev said. “I like fighting real fighters. Not a guy like Ward.”

Kovalev lost a disputed decision to Ward in their first fight, then was stopped by him in the eighth round of their 2017 rematch.

After getting knocked out by Eleider Alvarez he switched trainers, bringing in veteran

Buddy McGirt, who helped him beat Alvarez in a rematch and stop Yarde to retain his title.

Kovalev believes the switch in trainers has revitalized his career, which had been based previously on simply trying to knock out everyone he got into the ring with.

“I believe in Buddy 100 percent,” Kovalev said. “This is a real coach. After 10 years I finally have gotten a real coach.”

Kovalev will find a smaller man in the ring when he meets Alvarez, who is considered among the top pound-forpound fighters in boxing. Alvarez moved up to 168 pounds last year to win a title against an overmatched Rocky Fielding but returned to middleweight in his last fight to successfully defend his titles against Danny Jacobs.

The risk for Alvarez is that he runs into a big punch by Kovalev, who has 29 knockouts in his 34-3-1 career. The risk for Kovalev is that Alvarez (52-1-2, 35 knockouts) is too quick and too skilled a boxer to allow that to happen.

“It’s a big fight for me, the biggest I’ve had,” Kovalev said. “Canelo is one of the best pound-for-pound, and I’m the best in the light heavyweight division right now. It will be a very good fight.”

The fight at the MGM Grand hotel arena will be televised by the streaming service DAZN. AP

Sports BusinessMirror

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| Friday, September 20, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

‘FROM GOD TO DEVIL’

By Jocelyn Noveck The Associated Press

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HO’S that amazingly expressive actor they got to play Diego Maradona? The one you can’t take your eyes off of, whose every facial muscle can project joy, pain, sadness, humor or anger from miles away, and sometimes all at once?

Oh wait—this is a documentary, and this is Maradona himself, one of the most colorful and fascinating personalities in all of sports, with a life story bordering on the mythic. You may know the outlines of the soccer legend’s life, but there’s no way you won’t learn something from Diego Maradona, Asif Kapadia’s absorbing and exhaustive new film.

THIS image released by HBO shows Diego Maradona in a scene from the documentary Diego Maradona. AP

Most documentaries cut frequently to talking heads.

Kapadia, who won an Oscar for Amy, about Amy Winehouse, doesn’t do that, preferring to keep the viewer firmly planted in the narrative he’s crafted from hundreds of hours of neverseen archival footage. The approach is hugely effective here because we don’t see the older, larger Maradona, now 58, until the very end.

Much of the footage Kapadia has unearthed here is nothing short of mesmerizing, both for highly dramatic moments like Maradona’s hero welcome in Naples, where he was to spend seven chaotic years, and quiet moments like the athlete simply sitting at a party and saying nothing, looking lost and miserable as the world starts to crumble around him.

Because the Naples years form the heart of his film, Kapadia spends only a few minutes on Maradona’s beginnings, from his birth in a Buenos Aires shantytown

to his rise as a soccer prodigy who began supporting his family from age 15.

By the time Maradona arrives in Naples in 1984, he’s greeted as a messiah; the southern city is hungry to challenge the traditional soccer powerhouses further north. Some 75,000 adoring fans gather in the city’s stadium to welcome him.

A soccer genius celebrated as much for his brilliant instincts and vision on the pitch as his physical abilities, he turns Napoli into a winning team. He’s rewarded with a stardom that is hard to fathom. At one point, a commentator notes, virtually every Naples home has a photo of Maradona, “many on top of their bed, next to Jesus.”

At the 1986 World Cup in Mexico, with Maradona playing for Argentina, the duality of the man is defined in two famous quarterfinal goals against England: the

infamous “Hand of God” goal (he later confessed to scoring with his hand) and minutes later one of the greatest goals in history, leading the ecstatic announcer to shout: “What planet did you come from?”

There is amazing celebratory footage here, in the locker room and then in Argentina, where he’s hailed as a savior. More glory is to come in Naples, where after a championship victory people celebrate for weeks, and a sign is erected at the cemetery for the corpses: “You don’t know what you missed.”

Things are soon to unravel. Maradona’s cocaine habit worsens, but as long as he is winning, his team bosses don’t seem to care. He is high half the week, then cleanses his system to play on Sunday.

Then comes the 1990 World Cup in Italy. Maradona and Argentina are forced not only to face the Italian team in its home country, but to play the semifinal match in Naples

itself, Maradona’s home stadium.

It’s a prescription for disaster. He naively asks Neapolitans to support Argentina, and headlines interpret him as saying “Naples is Not Italy.” The Naples fans avidly support their own country and are devastated when Argentina wins, on penalty kicks.

Argentina will go on to lose the final, where Italian fans boo during the Argentine anthem, and he curses back.

Maradona’s ties to Italy appear broken. He’s no longer a god, but, as one newspaper dubs him, a devil.

In 1991, Maradona receives a 14-month suspended sentence on cocaine possession charges in a plea-bargain agreement. He also gets a 15-month suspension from soccer after testing positive for cocaine.

We watch as the once-adored star leaves Naples in ignominy. In a gruff voice, Maradona recalls here for Kapadia how when he arrived, he’d been greeted by cheering throngs. “When I left,” he says, “I was all alone.”

Yet, of all the voices in the film, perhaps it’s Maradona’s sister, Maria, who says it best, and simplest.

“It’s a heavy weight,” she says, “to be so famous.”

Diego Maradona, an HBO Sports release, is unrated by the Motion Picture Association of America. Running time: 130 minutes. Three stars out of four.

God of marvelous deeds

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EAR God, in company with Bartholomew and all the saints we pray to You with joy: May our lives give You glory, oh God. Grant safety to missionaries, and let their ministry bear fruit. Nurture the gift of faith in those preparing for baptism or confirmation. Help us to honor our elders, love our children and respect all people. May we prefer nothing to the love of Christ, and may He bring us together to everlasting life. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life BusinessMirror

SOMETHING LIKE LIFE: ON MAKING A ‘BETTER WORLD,’ TODAY D3

Friday, September 20, 2019

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DID YOU LOSE ‘DOWNTON ABBEY’ IN THE BRITISH FOG? CATCH UP HERE THE poster art featuring the central cast of Downton Abbey, the highly anticipated return of the much loved British TV drama now transformed into glossy, bigbudgeted movie that is opening in theaters worldwide.

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By leAnne itAlie The Associated Press

EW YORK—Does it feel like forever since we lost the style, splendor and scandals of Downton Abbey?

Well, dust off your jewels and put on the kettle because the twists and turns at your favorite Yorkshire estate in early 20th-century Britain are back with a feature film, to the delight of fans and Masterpiece, among others involved in creating the show.

“When we agreed to coproduce the television series we had no expectation that this was going to become a darling of the American audience,” said Susanne Simpson, deputy executive producer for Masterpiece. “It was really a surprise to all of us.”

So, what to do about all those delicious details that may have faded after the six-season, upstairsdownstairs series ended in 2015 in the United Kingdom and the following year in the United States.

We’ve got you covered with this guide to Downton’s past, but first a quick catch up on the cast.

Key aristocrats and their original actors are back, including the Crawleys, of course. Hugh Bonneville

is Robert Crawley, the Seventh Earl of Grantham, and Elizabeth McGovern is Cora, his countess. They have three daughters, including their eldest, the opinionated Lady Mary, played by Michelle Dockery.

Maggie Smith reprises her role as the wry matriarch Violet Crawley, Dowager Countess of Grantham. So does her frenemy, Isobel Crawley Grey, played by Penelope Wilton.

Below stairs, Joanne Froggatt remains Anna May Bates, lady’s maid to Mary, and Brendan Coyle returns as her selfless hubby, John Bates.

There are newcomers on the big screen, but we’ll get to that later.

WHERE WE LEFT THINGS THE PBS series concludes on New Year’s Eve, heading into 1926. The rich are selling off their estates in the crash and the middle class is ascending, but there’s even bigger news: Anna procures a shiny silver electric hair dryer at Mary’s request. You know, because progress. And it’s a beaut. Daisy, the assistant cook, can’t resist it, making a mess of her hair.

In other Anna news: She gives birth in Mary’s bedroom, on New Year’s Eve during Edith Crawley’s wedding, no less, as the series winds down.

Sadly, Mr. Carson (the estate’s top dog as butler) has “the palsy,” which did in the careers of his dad and granddad. He agrees to emeritus status, letting the villainous Thomas Barrow take over.

Leading up to her wedding, Lady Edith (the former spinster and one of Mary’s sisters) is surprised at The Ritz by Bertie Pelham, who had previously broken her heart. The arrangements for them to meet were an act of rare kindness on the part of Mary for Edith after years of rocky rivalry between the two.

Pelham begs Edith’s forgiveness before the show concludes with their nuptials. First, Edith comes clean about her daughter, Marigold, who was born out of wedlock, and fends off the initial “damaged goods” qualms of Bertie’s judgy mother.

“Edith is going to be happy. Just think about that,” gushes her American mom, Cora.

“Hoorah,” rejoices Lord Grantham.

‘LORD KNOWS THEY DON’T DESERVE THEIR LUCK, THOSE TWO’ THAT’S how Robert once summed up the Bateses.

Before their happily ever after, with a brand new son, Anna and John had virtually no luck at all.

Anna was sexually abused by her stepfather and

fought back with a knife—she only cut him—before arriving at Downton. John is an injured war hero (he uses a cane after taking shrapnel in one leg) who was Robert’s soldier-servant during the second Boer War and saved Robert’s life in an explosion. Robert repays the debt by employing John as his new valet, but John must withstand all manner of resistance from doubters on staff who think his disability makes him unsuitable for the job.

John’s personal life was equally challenging. His horrid first wife, Vera, killed herself with arsenic and set it up to look like he murdered her. John was sent to prison for a long stretch but was later freed. He had already spent time in prison after taking the fall for Vera in a theft of regimental silver.

Specifically, 1924 wasn’t kind to Anna and John.

Anna was attacked and raped by a visiting valet, Alex Green, but she tells only Mrs. Hughes, the housekeeper. Green turns up dead after mysteriously being pushed or falling into traffic at Piccadilly Circus. Anna is charged after a witness reports seeing her near the body on the busy London road. Word also leaks of her earlier knife incident, with prosecutors

Continued on d4

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Friday, September 20, 2019

Society BusinessMirror

www.businessmirror.com.ph

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Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Phillip Phillips, 29; Kristen Johnston, 52; Gary Cole, 63; Sophia Loren, 85.

HAPPY BIRTHDAY: This is a year of change. Size up the past and live in the moment, and you will find a way to build a better future. Much can be accomplished if you are open to change and willing to start by making self-improvements. Personal gains will come with hard work and dedication to whatever you feel is best for you.

Your lucky numbers are 6, 10, 14, 26, 30, 42, 44.

a

ARIES (March 21-April 19): Consider what you can do for others, and put your time to good use. Reaching out will make a statement about the type of person you are, as well as how you feel about the injustice you see all around you. HHHH

b

TAURUS (April 20-May 20): Take a moment to organize your thoughts and plan your actions. Making a sudden move can damage your relationship with someone as well as hurt your reputation, causing an unexpected change to your status or future prospects. HH

ENTERPRISE Singapore’s Development Partner Tricia Liu and Deputy Director Tan Ying Xia put together Singaporium just in time for The Podium’s grand opening.

SHERMAINE WEE and Allan Lee, owners of Klosh, a stationery and lifestyle store which sources its eclectic mix of gift and lifestyle items from Singapore and around the world.

A generous dash of Singapore J UST in time for The Podium’s grand opening recently, mallgoers were able to experience the tastes, sights and spirit of Singapore at the successful first-ever Singaporium, an exclusive lifestyle and food pop-up which concluded on September 15.

A joint project of Enterprise Singapore, the Singapore government agency helping Singaporean companies to grow and develop globally, and The Podium Mall, the event also celebrated of the 50th anniversary of diplomatic relations between Singapore and the Philippines, offering Manila consumers a chance to experience Singapore’s vibrant culture without having to leave the Metro.

Singaporium showcased 17 Singaporean fashion, lifestyle and food brands. Manila’s stylish set turned

out for the fashion finds at Our Second Nature, a clothing brand that focuses on creating comfortable everyday wear; and Her Velvet Vase, a retail brand that sources its clothing and accessories from all over the world and also has pieces that are designed inhouse. Porcelain, a skin care and face spa company, offered personalized skin solutions, while Osim, the Lion City’s favorite health and wellness brand, pampered customers with their neck massagers and massage chairs.

Bynd Artisan featured high-quality customizable paper and leather goods, while Klosh, a stationery and gift shop became a popular source for home inspirations.

Guests also shopped for premium products with a uniquely Singaporean flair from Singapore Airline’s

MIKE PENAFORT, managing director of Benns Chocolate which is known for its range of thoughtfully curated artisanal chocolates.

c

GEMINI (May 21-June 20): Do what you say and don’t stop until you are finished. Power comes from being precise and living up to your promises. Don’t trust someone who talks big and does little. Show your emotions and act accordingly. HHHHH

d

CANCER (June 21-July 22): Participate in something you’ve never done, or associate with people who come from different backgrounds. Learning more about those you know little about will broaden your outlook. Romance is highlighted, but making an unrealistic choice is not.

HHHH

e flagship retailer KrisShop and bean-to-bar chocolate maker Benns. Also enjoying the spotlight were toy design studio Mighty Jaxx and Singapore’s premier entertainment café Play Nation.

Of course, foodies loved the authentic Singaporean food and drinks at the pop-up at the mall’s second level. These included Wolf Burgers’ customizable burgers, Jumain Sataysfaction’s satay, and Collin’s signature roasted BBQ pork ribs and roasted chicken leg quarter. Halal-certified Mexican and Turkish restaurant stuff’d offered healthy and fresh food at Daily Bowl, while Wok Hey highlighted mixed rice and noodle dishes. Mallgoers also enjoyed the iconic Singaporean noodles from heritage noodle house Ming Fa, and Yeo’s ready-to-drink teas, soy drinks, and juices created to showcase Asian flavors. n

LEO (July 23-Aug. 22): Overspending on things you don’t need will leave you short at the end of the month. Take your time and consider what’s necessary and what isn’t. Trying to buy love or favors will end up costing you emotionally, financially and physically. HHH

f

VIRGO (Aug. 23-Sept. 22): If you have to make a change, think it through. Practicality should play a heavy role in how you perceive whatever situation you face, as well as how you move forward. Whatever change you make, do so for the right reason. HHH

g

LIBRA (Sept. 23-Oct. 22): What you do counts. Laziness will lead to criticism. Show everyone what you are made of. Do things that make a statement about the type of person you are.

Put greater emphasis on what you do, not what you say.

HHHHH

h

SCORPIO (Oct. 23-Nov. 21): A change of plans will throw you off guard. Don’t get into a petty argument with someone who is trying to get a rise out of you. Getting along with others won’t be easy, but it is in your best interest. HH

i j

SAGITTARIUS (Nov. 22-Dec. 21): You’ll gain ground if you put more energy behind your plans. Don’t wait for someone else to pick up the slack. Make it clear you are willing to put in the time in order to reap the rewards. HHHH CAPRICORN (Dec. 22-Jan. 19): An open mind coupled with a practical attitude will help you reach your goal. Strive for perfection, but not at the cost of missing your deadline. There is a fine line between success and failure. Use your skills and attributes wisely. HHH

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AQUARIUS (Jan. 20-Feb. 18): Look out for your interests. Refuse to let someone else tempt you with an idea or plan that isn’t logical. Keep your money tucked away in a safe place and don’t let anger be your downfall. Slow down and make wise choices. HHH

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PISCES (Feb. 19-March 20): An opportunity should be looked at carefully.

Don’t trust the system to work for you.

Look over rules and regulations before you say yes to someone prompting you to take part in something you know little about. HHH FROM left: Neds Rocillo and Sandy Gutierrez of Singapore Airlines with June Ong, Amanda Ang and Sabrina Legazpi of KrisShop, the travel retail arm of Singapore Airlines which offers an extensive selection items ranging from cosmetics and fragrance to exclusive cobranded items.

CHEF Edmund Toh of Collin’s, a restaurant known for its extensive range of Asian-inspired Western dishes including their signature roasted BBQ pork ribs and roasted chicken leg quarter.

BIRTHDAY BABY: You are practical, smart and detailed.

You are perceptive and changeable.

‘grow up!’ BY EVAN KALISH The Universal Crossword/Edited by David Steinberg

ACROSS 1 Paste in Japanese cuisine 5 Palindromic Swedish band 9 Hoped-for job interview result 14 Billionaire Musk 15 Back end 16 Unaccompanied 17 He painted Maja 18 One may start with starters 19 ___ Haute 20 Some are husky 22 Destination east of Miami 24 Certain brain cell 25 Texas city where Dr Pepper was created 26 Tree ring datum 27 Bouncers check them 28 Like the 1 percent 30 Submit your tax return online 32 Aunt, in Mexico 33 Back of the neck 34 Absorb, with “up” 35 Fashion designer’s forte 37 Battering ___ 39 True statements

3 Bark sound 4 45 Celebratory week-end cry 47 Sturgeon delicacy 48 Range 50 Prefix meaning “all” 51 ___-Ida 52 “I solved 52-Across!”

53 Sometimes-bad sign 55 Scenic views, briefly 57 What might stop a stream?

59 Celebration 60 Crud 61 Cold, at a coffee shop 63 7UP, e.g.

65 Former Yankees manager Joe 66 Adorbs, non-slangily 67 Per item 68 Beginning 69 Celebrity 70 Car-buying fig.

DOWN 1 Sleepless in Seattle star Ryan 2 Rave review remark 3 “What I’m hearing is...”

4 TV studio alert

5 Turkey neighbor 6 Sting-y pollinators?

7 Outlaw 8 One of the Caribbean’s ABC islands 9 Inauguration recital 10 Cat biter 11 Dressy dance 12 Infuriate 13 Witherspoon of Big Little Lies 21 Pool shark’s call 23 Pair that defeats kings 24 What a picky person picks 25 Actor Wil 29 EMT’s skill 31 Light-colored beer, for short 36 Southeast Asian language 38 Las Vegas’s ___ Grand 40 Navel-revealing shirts, and a hint to each starred answer’s first few letters 41 Bullfighter 42 Goes on dates with 44 Hurricane response org.

46 Industry expert, often 48 Stone of Casino 49 Provides food for

2 Build upon 5 54 Massive tales 56 Indian tea type 58 Farm area measurement 59 Cheese sometimes made with goat’s milk 62 Director’s “Stop!” order 64 Phone program Solution to yesterday’s puzzle:

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Relationships BusinessMirror

Friday, September 20, 2019

CCA, Manila to hold ‘Wine & Learn’ exclusive master class with Chef JC de Terry THE country’s pioneer and top school for professional culinary education, the Center for Culinary Arts (CCA, Manila) gives gourmands and cooking enthusiasts a rare, up-close chance to learn and experience Spanish gastronomy straight from an esteemed Spanish culinary master, the legendary Chef Juan Carlos “JC” de Terry.

Through a special partnership with CCA, Manila, Chef de Terry will be conducting “Wine and Learn” exclusive master-class cooking sessions on September 23 and 30, 3 to 6 pm, at Terry’s Bistro in Pasong Tamo Extension, Makati City. Assisting him on this exciting class is Chef Raul Avila.

For his two-day, two-part cooking sessions, Chef de Terry will be bringing his distinctive Spanish expertise as he teaches participants the essentials on preparing some of his Spanish specialties.

For Session 1 (Paella, Sangria Churros), the immersive encounter commences with a paella cooking demo, followed by a serving of sangria and finished off with a churros dessert and chocolate.

Session 2 (Essential Tapas), meanwhile, engages participants to freely explore and push new creative boundaries as they learn to whip up favorites like croquettes, patatas bravas and other recipes.

Class fees per person are P2,500 (one session) and P4,000 (two sessions). Both inclusive of ingredients per session.

The exclusive cooking sessions also serve as an intimate wine-and-dine activity that further elevates the overall learning experience. Apart from gaining new insights, participants get to enjoy Chef de Terry’s sumptuous dishes along with a perfectly matched complimentary drink. To access Terry’s Bistro’s wider selection of quality wines, guests need only add P500 to complete their Spanish culinary exploration.

Chef de Terry is widely regarded as one of the leading authorities on Spanish cooking and is known to have elevated the Filipinos’ love for Spanish food and wine. He is well-known to many as the “King of Spanish cuisine” after establishing Terry’s Bistro, one of Manila’s finest restaurants with branches in Makati and Ortigas.

More information is available at talktoccamanila@ gmail.com or 218-8566.

CHEF Juan Carlos de Terry

SAN Miguel Corp.

President and CEO Ramon S. Ang serves nutritious meals to target beneficiaries of the company’s Better World Tondo facility. Helping him out are Manila Mayor Isko Moreno (right) and Vice Mayor Honey Lacuna.

On making a ‘Better World,’ today SOMETHING LIKE LIFE

MA. STELLA F. ARNALDO

@akosistellaBM

H

UNGER is a worldwide problem. According to the Global Hunger Index for 2017, 52 out of 119 countries have serious, alarming or extremely alarming levels of hunger.

The problem is nowhere more stark than in the Philippines, where some 14.2 million Filipinos are malnourished, and about 13.3 million are considered food-insecure, according to a World Hunger Report in 2018. “Food insecurity” means there is no reliable access to a sufficient quality of affordable, nutritious food.

Despite being a center of economic development in the country, the National Capital Region surprisingly ranks second as the most food-insecure area, after the Autonomous Region in Muslim Mindanao, as per the same report.

San Miguel Corp. aims to address that discrepancy by opening the first-of-its-kind food bank and learning facility in Tondo, to provide the poorest barangays in Manila not only reliable access to nutritious meals but also the tools to allow beneficiaries to improve their lives. San Miguel President and Chief Operating Officer Ramon S. Ang and Manila Mayor Francisco “Isko Moreno” Domagoso formally opened the facility, dubbed “Better World” in Tondo on Wednesday.

The project is close to the heart of Ang, who was born and grew up in Tondo. He said this was his way of “giving back” to the community.

“Better World Tondo was a concept we’ve had for some time,” he told guests during the launch of the center. “We want to be able to collaborate with businesses and companies to collect excess food, store them in a food bank, to be served to those in need by community volunteers. It’s food rescue to address hunger, which is still a major problem for many sectors of our society,” he underscored.

More importantly, “it is also a learning center where they can supplement what they learn in school through skills building and values formation to use to improve their lives,” said the astute executive, who has lately been in the news for his many businesses such as the Bulacan International Airport project, which finally got the go-signal from the government (whew!), and for winning one of the power-supply contracts with the Manila Electric Co. The Better World project is no idle doleout, however. Ang stressed: “We look forward to welcoming the community here. This center is for them, so they have a role and responsibility in it. We emphasize participation and shared responsibility so that we can move communities forward to make positive changes. Those who will benefit from this center will be asked to serve by cooking food, washing dishes, or contributing in however way they can.”

The project will prioritize the most vulnerable members of the community, he said. These are the children, the elderly, the disabled and single parents.

San Miguel has collaborated with the group Rise Against Hunger-Philippines to help in managing the collection, banking and serving of surplus food. These will be sourced from food manufacturers, hotels, restaurants and convenience stores. San Miguel Foods is a major donor, along with the brand Spam, Makati Diamond Residences and Manila Diamond Hotel.

Another partner, AHA! Learning Center, will provide after-school programs for children focusing on values formation and skills building. There will be TEDTalks-like videos that will be played at the center and there are plans to invite speakers from the private

sector who can inspire the children to find their own way and make the most of their lives.

I was told, for the feeding program specifically, what will happen is excess food, canned goods, and other food stuff will be collected from San Miguel Foods and from Ang’s hotels and brought to the center where the company has freezers for storage.

San Miguel emphasizes that these are not leftovers, but untouched surplus food, say from buffets served during events and the scheduled meals at the hotelsí F&B outlets, that will be donated to the center.

Thereafter, chefs from San Miguel’s Culinary Center will “repurpose” the food and serve them to the beneficiaries. Impoverished schoolchildren will get the maximum benefit from this feeding program, as many of them are unable to go to school or focus on their studies because they are hungry.

The center will initially be open from 7 am to 3 pm, so beneficiaries can get at least two full square meals a day, especially the schoolkids, before heading home.

The hours may be adjusted depending on the needs of the community.

Also, there is a small retail store at the facility, operated in partnership with Good Food Grocer, where beneficiaries can get heavily discounted grocery items by using their vouchers issued by the Manila City Hall.

The center has the capacity to serve about 1,200 beneficiaries every day, as per the company insiders Iíve spoken with. Said beneficiaries have already been pre-identified by the Manila City Hall and San Miguel.

This is just a pilot project, and San Miguel is targeting other impoverished areas in Metro Manila to set up local food banks and learning centers. The company also enjoins other hotels, food firms, and similar groups to use the Better World facility in Tondo for their excess food drops and donations.

Ang’s “can-do” attitude shows the way the private sector can accomplish much more when they step in to fill the gaps in government services. Perhaps that is truly the best way to achieve a better world—today. n

Global humanitarian organization pushes for multisectoral approach in fight against malnutrition

By PAuline Joy m. GutierreZ CHRONIC malnutrition remains a serious problem in the Philippines, where 4 million Filipino children under five years old are malnourished—impacting not only the increased risk in chronic health conditions and mortality rate, but also slowing down economic growth by P220 billion annually.

The country, however, despite being ranked 9th among the nations with the highest prevalence of stunted kids, has had slow progress in addressing this concern.

The global humanitarian organization Action Against Hunger (AAH), in its fight against malnutrition, calls for a multisectoral approach in curbing these pervasive levels of undernourishment.

At a press event at Green Pastures in Bonifacio Global City, the agency announced initiatives that aim to reach more children with nutrition interventions while developing longterm solutions to stop them from becoming malnourished in the first place. These two campaigns, namely, Love Food Give Food and P100 for 5 Challenge, encourage various stakeholder groups and sectors to work hand in hand to support health promotion for children.

Previously known as Restaurants Against Hunger, Love Food Give Food works in a way that partner establishments will choose a number of special items from their product list that will be identified as “Charity Dishes.” For every purchase of these dishes from October 1 to December 1 this year, a portion of the sale will be donated to AAH’s projects.

“Unlike its previous version, Love Food Give Food is not limited to restaurants. We hope to get the support of all types of food establishments—food kiosks, bakeries,

D3

cafés, carinderias, even home-based online food vendors,” said Fund-raising and Resource Development Manager Dale Nelson Divinagracia.

He explained, “To be part of the movement against hunger, all they have to do is go to www.lovefoodgivefoodphilippines. org, and click the ‘Join Now’ button. The campaign is very easy to implement, it doesn’t entail much cost, and it unites the business staff and customers for a cause.”

As of this writing, the establishments that have confirmed their participation are: Alba, Baker & Cook, Buffalo Wild Wings, Bulgogi Brothers, Café Mediterranean, Chef Laudico OK Café, Chelsea Kitchen, Chotto Matte, The Coconut Club, Corner Tree Café, Cyma, D’ Doux Cafe & Patisserie, D’Kada Cafe & Bistro, Denny’s, Fish & Co., Friends & Family, Gallery

by Chele, Green Pastures, Holy Grill, Italianni’s, Izakaya Sensu, Kabila, Kats Happy Food, Krazy Garlic, La Petite Fromagerie, The Lost Bread, Modern Shanghai, Mom & Tina’s Bakery Café, Providore, Plank, Saboten, Sunkissed Café, Terraz, Texas Roadhouse, TGIFridays and Village Tavern.

“This year, we also made it possible for people to directly donate to Action Against Hunger. Some food establishments will have donation boxes in their premises,” added Divinagracia.

Another campaign under Love Food Give Food is the P100 for 5 Challenge, wherein partner chefs are encouraged to come up with nutritional dishes that are within the budget of P100 for five people. These recipes will then be uploaded on www.lovefoodgivefoodphilippines.org and various online sites/pages related to AAH. According to the 2015 Family Income and Expenditure Survey of the Philippine Statistics Authority (PSA), the

ACTION Against Hunger Philippines Country Director Guy Halsey

average family monthly income is estimated at P22,000, and 41.5 percent of it is spent on food. This equates to P300 daily or P100 per meal, and families are forced to stay within this budget.

However, families whose incomes fall below the food threshold, which is the minimum income required to meet the basic food needs and the nutritional requirements set by the FNRI, is another story. AAH Country Director Guy Halsey said this brings us back to malnutrition’s direct link with poverty incidence among Filipino families.

“Children suffering from malnutrition may never attain their full possible height, have weaker immune systems, and their brains may never develop to their full cognitive potential.

CHEF Chele Gonzalez of Gallery by Chele

They will face learning difficulties in school and get sick more often. If not treated in the first 1,000 days of a person’s life, the effects of malnutrition are irreversible and will last that person’s whole life,” explained Halsey.

The AAH figurehead said that poverty, diseases and epidemics, natural disasters, and conflict are the four main causes of malnutrition in the country, and if these underlying determinants—most of which lie beyond the health sector— are not addressed, they will only perpetuate a cycle of poor health among children. n To know more about Love Food Give Food and P100 for 5 Challenge, visit www.lovefoodgivefoodphilippines.org.

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Show BusinessMirror

Friday, September 20, 2019

www.businessmirror.com.ph

ALL the pomp and circumstance remain. The film is set in 1927, hinged on a visit to Downton by King George V and Queen Mary.

GMA responds to DOLE investigation on Eddie Garcia incident FOLLOWING the disclosure by the Department of Labor and Employment (DOLE) of its preliminary findings regarding the death of veteran actor Eddie Garcia on the set of a GMA series, the network has issued the following statement: “GMA Network on Monday filed its Comment on the preliminary findings of the Department of Labor and Employment in the investigation on the incident involving the late Eddie Garcia.

“Prior to the formal hearing, DOLE-National Capital Region Regional Director Sarah Buena Mirasol stated that GMA allegedly committed three violations under the implementing rules and regulations [IRR] of the Occupational Safety and Health [OSH] Law: failure to submit an incident report within 24 hours, to employ or designate a safety officer, and to employ or designate a certified First Aider.

“In its Comment, GMA explained that after completing its thorough internal investigation, the network initially gave a copy of the results to the family of Mr. Garcia as a matter of respect and, thereafter, voluntarily submitted a copy to the DOLE on July 5 in compliance with the law and its IRR. Regarding the first finding, GMA noted the IRR, as worded, states that such a case of ‘work accidents resulting in disabling injury or death’ is an exception to the requirement that a report be made within 24 hours from the occurrence.

Nonetheless, GMA submitted the report within one month from the accident which occurred last June 8.

“Secondly, on having a designated safety officer in the workplace, GMA confirms that it actually has [a] sufficient number of DOLE-certified safety officers catering to its employees. The ‘workplace’ covered by the OSH Law is deemed to refer only to those places where services of the employees are regularly rendered. The IRR cannot expand the coverage of the law to include temporary, moving or shifting locations. Extending said requirement of the law through the IRR to all temporary taping locations would unreasonably burden the industry with a requirement which is beyond the contemplation of the law.

“GMA maintains safety and security in tapings through extensive discussions among its safety officers, the program’s officers and staff, and its contractors in coordination with barangay officials having jurisdiction over the locations for security, traffic and crowd control matters.

“Last, on designating first-aid responders, GMA validated that three production staff who have completed the Philippine Red Cross’s lecture demonstration on First Aid and Basic Life Support-CPR were present on the location site on the day of the accident. Despite the safety measures undertaken

by GMA, it was determined that what happened was an unforeseeable accident.

“Moreover, in an article published in the Philippine Daily Inquirer on September 7, it was mentioned that GMA Network refused to comply with DOLE’s directive to provide a list of the locations of all its [dramas], which shall be subject to inspection by its representatives. GMA, for its part, said that there was no refusal to provide the information. The locations and schedules were not submitted immediately because of their tentativeness and the fact that they are too numerous to remember from memory. These tapings are under the supervision of different officers and, thus, needed ample time to compile. However, a list of regular taping locations and schedules was submitted within the prescribed period.

“The network assures that it will continue to cooperate with the DOLE on this matter.”

Did you lose ‘Downton Abbey’ in the British fog? Catch up here Continued from D1 planning to use that against her as evidence that she’s capable of violence.

John is desperate to see Anna cleared. He falsely confesses to the murder as she awaits trial and then flees to Ireland. The two are eventually let off the hook and reunited.

Got that?

‘IT IS...DELICIOUS’ GLADYS DENKER. Septimus Spratt. Violet Crawley.

Is there anything more fun on Downton than these three? In 1924, Violet hires Denker as her lady’s maid to replace Collins, who was never given a first name, by the way. Denker is an issue for Spratt, her butler, as Collins pretty much deferred to him. The sharptongued Denker, who pops up in Season 5, is another matter.

The scheming is divine, especially in the episode in which Denker lies about her ability to make a good chicken broth. She doesn’t, and Spratt sets out to make sure Violet is well aware, including a sink dump of Daisy’s good soup intended to masquerade as one made by Denker.

When Denker is forced to attempt a broth, which is awful—to the delight of Spratt—his scheming backfires. Violet covers for Denker as she samples the foul soup: “It is...delicious,” Violet manages, spoon in hand.

“There’s a point, Spratt, where malice ceases to be

amusing.” Denker huffs at Spratt during a Christmas party: “God, you are a dreary little man.”

DEAD BUT NOT FORGOTTEN THE series spans 14 years, starting in 1912, and the dead sort of piled up. Let us honor some of them here.

Robert had no sons so his first cousin, James Crawley, was his presumptive heir. James’s only son was Patrick, who was unofficially intended for Mary, though she had little use for him. James died and Patrick was presumed dead in the sinking of the Titanic at the beginning of the series.

That’s how Matthew Crawley—a distant relative— became Robert’s new heir. Technically speaking, he was a third cousin, once removed. Matthew fell truly, madly, deeply for Mary, but Mary—being Mary— took her time over eight tumultuous years before she finally accepted his second marriage proposal. They married in May 1920.

Sadly, Matthew died shortly after their son, George Crawley, was born in September 1921. Matthew was killed in a car accident after visiting his wife and newborn at the hospital.

That made young George the presumptive heir.

However, a letter found after Matthew’s death has him leaving his half of the estate to Mary after he and Robert divvied it up. We lost Matthew, but his mother Isobel lived on.

Lady Sybil, the youngest daughter of Robert and Cora, died of complications after childbirth. That’s how the former chauffer, Tom Branson, became a

single father to their daughter Sybbie, who was named after her mom. Tom was eventually welcomed into the family after a rough road for the Irish socialist.

There are more, including Robert Crawley’s beloved Isis, one of his golden retrievers. Show creator Julian Fellowes insists the dog’s death was not intended to eliminate her name and its terrorist connotations from the series. He said the prize animal was named after the Egyptian goddess. The Granthams had another dog named Pharaoh.

THOSE GUEST APPEARANCES SHIRLEY MACLAINE played Martha Levinson, mother of Cora. Paul Giamatti was Harold Levinson, Cora’s blunt-speaking playboy of a brother.

Theo James had lots to do. He played the dropdead gorgeous Turkish diplomat Kemal Pamuk, who died while in bed with Mary during Season 1. He’s mentioned on occasion after that.

Iain Glen, who was Jorah Mormont on Game of Thrones, played a newspaper mogul, Sir Richard Carlisle. He was a short-lived love interest of Mary.

Richard E. Grant, Tim Pigott-Smith, there were oh so many more guests, but we’d need to write a book.

The film is set in 1927, hinged on a visit to Downton

by King George V (Simon Jones) and Queen Mary (Geraldine James). It was released on September 13 in the UK and September 20 in the US. (In the Philippines, it opens in theaters also on September 20.—Ed.) There are some other new faces, including David Haig as the king’s butler and Max Brown in an undisclosed role. n

UK film ‘Mary Shelley’ featured in Cine Europa 22 THE British Council will screen Mary Shelley, a story of the whirlwind love affair between poet Percy Shelley and Mary Wollstonecroft that led to the creation of the world’s first science fiction novel Frankenstein.

Passionate and rebellious teenager Mary Wollstonecroft finds a kindred spirit in poet Percy Shelley, connected they are by a natural chemistry and progressive ideas that are beyond the boundaries of their age and time. Society at the time put little value in a woman writing such a literary masterpiece, and Mary is forced to challenge society to protect her

monster and forge her own identity.

Mary Shelley will be among the films participating in the film festival Cine Europa, which marks its 22nd year and opens in Manila on September 20 at Ayala Malls’ Greenbelt 3. As it celebrates European cultural heritage, the Chargé d’Affaires, a.i. of the EU Delegation to the Philippines Thomas Wiersing said Cine Europa is a distinctive way to showcase European cultural diversity in the Philippines and to open up opportunities in the cultural and creative industries.

Highlighting tales of love, friendship, faith, triumph

and courage,13 movies are presented by European Union member-states (Belgium, Czech Republic, Denmark, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Spain, Sweden and the United Kingdom). This year, the British Council presents Mary Shelley, directed by Saudi Arabia’s first female and one of the Kingdom’s best director, Haifaa Al-Mansour.

Mary Shelley screens on September 20, 10 pm, and September 22, 11 am, at Cinema 1, Greenbelt 3, in Makati City. Admission is free on a first-come, first-served basis.

No Britney Spears, no decisions made at closed court hearing

By Andrew Dalton The Associated Press LOS ANGELES—A hearing Wednesday on the future of the court conservatorship that for 11 years has controlled the money and affairs of Britney Spears ended with no decisions made and no appearance from the pop star.

The hearing was cleared of the public and media.

Los Angeles Superior Court Judge Brenda J. Penny issued no rulings during or after the proceedings, and Spears was not listed among those in attendance.

The hearing opened with a courtroom full of media members and a few Spears fans, but all were required to leave when Penny agreed with attorneys who requested that the hearing and its transcripts should be sealed because of what would be revealed about Spears’s medical, mental and financial issues, along with details about her two young sons.

In May, the 37-year-old Spears made a rare appearance in the same courtroom for another closed conservatorship hearing. She had asked to speak to the court and was brought in through a back door once the courtroom was cleared.

Her request raised the possibility that she could be seeking changes in the arrangement that she has largely quietly accepted for years.

Penny asked for an analyst to review Spears’s situation after that hearing, and had been expected to get at least some of the results Wednesday. It’s not clear whether she did, but in court documents she said the status hearing would resume in January.

Spears’s father, Jamie Spears, and mother, Lynne Spears, were both in court, along with a half-dozen attorneys with various roles in the conservatorship.

Jamie Spears temporarily stepped down in his role as conservator over his daughter’s personal affairs earlier this month, citing poor health, but he maintained his financial control over her.

Prosecutors in neighboring Ventura County announced Tuesday that they would not be filing criminal charges against the 67-year-old Jamie Spears after deputies investigated an allegation of child abuse. The district attorney’s office would not say who the child in the report was or give any other details on the investigation. Jamie Spears’s attorney did not respond to a request for comment.

Jodi Montgomery, who has long helped manage

Britney Spears’s personal affairs, is now playing the role her father relinquished, and was also in court on Wednesday.

Lynne Spears has not been involved in the conservatorship but has recently asked for greater access to information from its proceedings and filings.

Jamie Spears has several grandchildren, including Britney Spears’s two sons, who are 14 and 13.

Her ex-husband Kevin Federline has custody of the boys, but she has frequent visits with them.

Conservatorship, known in many states as guardianship, is an involuntary status usually reserved for very elderly or very ill people who are suffering from dementia or otherwise incapacitated and unable to make decisions for themselves.

The court put Britney Spears under the status in 2008 when she was having serious personal and psychiatric struggles, many of which played out in public.

Dozens of the pop star’s fans who oppose the conservatorship and insist she’s being controlled against her will protested outside the courthouse Wednesday, as they usually do outside such hearings, with signs that read “Free Britney.”

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

Friday, September 20, 2019 E1

ISUZU INTRODUCES THE NEW D-MAX LS-A

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Story & photos by Randy S. Peregrino

SUZU Philippines Corp. (IPC) continues to offer more options for its best-selling pickup truck.

After the successful introduction of the rugged Boondock Edition, it’s time for another tough-looking variant to join the roster—the new D-Max LS-A. Sixteen years since this popular workhorse entered the local market, IPC knew it’s time to give the pickup another iteration that is stylish yet still possesses the known robust character of the nameplate.

“Introduced in 2003, the Isuzu D-Max pickup has sold more than 46,000 units so far and continues to be one of the country’s most popular pickup models for its durability, fuel efficiency and overall value for money. The new Isuzu D-Max LS-A joins the ranks of premium pickups with its stylish yet functional design and competitive pricing without compromising the D-Max’s core value of being ‘Tough Enough for Anything,’” IPC President Hajime Koso said.

Also present during the event was Isuzu Motors Ltd. Executive Officer Hirokazu Okubo who

shared his thoughts about Isuzu’s experience with the pickup design nearly a century ago. “The first vehicle Isuzu produced in the market in 1922 was a pickup truck, taking note of our expertise on the product and most especially on diesel engine technology,” he explained. “Worldwide, the Isuzu D-Max is trusted in countries like Thailand, Australia, and the United Kingdom, certainly because of its design and functionality that have gone through rigorous testing and development. The new Isuzu D-Max LS-A variant will be a great addition to the very competitive local pickup truck market,” he added.

Shades of dark gray

HIGHLIGHTING the new LS-A variant is several touch of dark gray exterior trims all over. The front end has never been more commanding thanks to the darkened grill and bumper apron.

That made the front silver accent

THE new D-Max LS-A variant highlighted with dark gray trims all over

ISUZU Motors International Operations Thailand Vice President Kenichi Asahara (from left), Mitsubishi Corp. General Manager Daisuke Takagi, IPC Executive Vice President Shojiro Sakoda, IPC President Hajime Koso, and Isuzu Motors Ltd. Sales Executive Officer Hirokazu Okubo ISUZU PHILIPPINES CORP.

more prominent. The new darkened trim went on to emphasize the bottom panels around the frame. These dark panels compliment the 18-inch two-tone and multi-spoke rims wrapped in 255/60 R18 TOYO tires.

Even the side step boards received the same treatment along with the rocker panel, cargo extender and roof rails. Overall, the fresh look of the D-Max LS-A is IPC’s answer to the growing demands of the market in seek of utility vehicles capable of doing all the hard works and plays, while pos-

sequential shift or a six-speed manual gearbox with gear shift indicator.

While the power plant and drivetrain are just the new LS-A’s starting points, it is also perfectly suited for the evolving demands of the market. Inside and out, the DMax LS-A offers complete package of features that cater to the modern Filipino lifestyle. This kind of known lifestyle maximizes the best qualities of the urban professional and the weekend adventurer.

There’s the auto-climate control air-conditioning system, passive

sessing that stylish character for business and leisure.

Motivation comes from the reliable, potent yet fuel-efficient 4JJ1-TCX 3.0-liter four-cylinder with Blue Power Technology turbodiesel engine equipped with VGS turbine and intercooler. It generates 175 hp and 380 N-m of maximum torque. Initially available in 4x4 drivetrains, IPC intends to offer the variant in 4x2 drivetrains as well in the coming months. Both versions will have an option for either a six-speed automatic transmission with

entry/push start-stop system, 12volt accessory socket, three USB charging ports, 15 storage compartments and 10 cupholders.

The new D-Max LS-A variant is available in the following colors: Cosmic Black, Sapphire Blue, Titanium Silver, Red Spinel, Splash White and Silky Pearl White. With all the added features on the DMax LS-A, IPC announced that there will be a more competitive pricing for this variant. So, stay tuned and log on to www.isuzuphil. com or visit any of the Isuzu dealerships nationwide.

E2 Friday, September 20, 2019

Petron XCS continues to deliver

optimum performance

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EG 3 of the 2019 Toyota Vios Racing Festival ended in exciting fashion with competitors having to deal with the challenges of driving on a wet track due to rainy weather on race day recently at Clark International Speedway in Pampanga.

This was Round 2 of the Vios Circuit Championship and Round 3 of the Vios Autocross Challenge, with each one having three categories: Celebrity, Promotional, and Sporting for the former, and Social Media Personalities, Media, and Car Clubs for the latter.

Taking top spot in the Circuit Championship were: Celebrity Class—Troy Montero (Race 4 & 5), Daniel Matsunaga (Race 6); Promotional Class­—Julian Tang (Race 4), Elysse Menorca (Race 5 & 6); Sporting Class—Red Diwa (Race 4), Eggy Ong (Race 5 & 6). In the Autocross Challenge, meanwhile, first-place finishes went to Jules Aquino (Social Media Personalities), Jose Luis Altoveros (Media), and Carlos Iñigo Anton (Car Clubs).

The 2019 Vios Festival season kicked off on April 27 and 28 at the Mall of Asia Concert Grounds in Pasay City. Clark International Speedway is the venue for

the succeeding legs, with Leg 2 held on June 7 and 8, Leg 3 on August 30 and 31, and Leg 4 scheduled for November 8 and 9.

Last year, Toyota chose Petron XCS to be the official fuel of the Vios Cup. The partnership is now on its second year, a testament to the optimum performance that competitors can rely on through the rigorous challenges of racing conditions.

Petron XCS with Complete Combustion System is a 95-octane high-quality premium gasoline formulated with an additive technology based on organic combustion enhancer for quick engine response, excellent engine protection and optimal fuel efficiency. With Petron XCS powering their drive, Toyota Vios Racing Festival competitors are assured of enhanced engine power and responsiveness to boost their track performance.

Like all Petron fuels, Petron XCS offers the TriAction Advantages of (1) better engine protection for longer engine life; (2) better mileage for longer drives; and (3) better power.

The power player in luxury driving

Story & photos

by Bettina Gayoso

O

n September 11, 2019, the launch of the allnew Audi A6 took place at the Manila Polo Club.

Considered to be a leader in more ways than one, its elegant exterior and advanced driver assistance are some of the features of what makes this the ultimate luxury drive. The allnew Audi A6 is the widest and the roomiest in its class, further allowing you to experience the innovative limousine.

The Audi A6 features a fourcylinder petrol engine with direct injection and turbocharging, a mild hybrid electric vehicle. A

front-wheel drive with a sevenspeed S tronic dual-clutch transmission, accompanied by a maximum power output of 245 HP, definitely a game changer in driving; setting the bar high. The A6 features 370 N-m in maximum torque, with top speed going as high as 250 km/h.

An IIHS Winner for Top Safety Pick 2019, you need not worry about getting to where you need to be safely and swiftly. Bagging top spot in the International Engine of the Year 2019, the all-new A6 is an experience all on its own.

Audi definitely set the bar high with this one, be it for their everdeveloping technology or the performance the vehicle has to offer, the all-new Audi A6 is a definite must drive.

Moto

Business

Maxus introduce M Story & photos

by Patrick P. Tulfo

AXUS, the sixth automotive brand to join the expanding portfolio of Ayala Group of Cos. under the AC Industrials Division, recently launched a variant of the G10 MPV. The G10 together with the more utilitarian V80 vans were the two models that were introduced to the media during the company’s launched in June.

The new variant called G10 Assist was especially designed for PWDs (persons with disabilities). It features a customized technological innovation that makes the transportation of the elderly and PWDs comfortable, much easier and convenient.

Automobile Central Enterprise Inc. President Felipe Estrella said during his opening remarks, “With the G10 Assist, we can help our beloved family members with disabilities become more empowered and mobile, as the

G10 Assist opens a world of possibilities for them. ‘PWD’ can now be enhanced to ‘PWeDe’ as the G10 Assist MA Ximizes transport options and MA Ximizes assistance with a platform for them to live a life to the max. MAX madali ang buhay kapag may G10 Assist!”

The emphasis on “Max” word was in line with the company’s campaign to build up the image of the G10 as the MPV that offers maximum comfort, safety and design to its buyers.

The all-new Maxus G10 Assist

oring

sMirror

Friday, September 20, 2019

es the G10 Assist for PWDs

E3

It features an ergonomically designed dashboard

The special seat on the G10 Assist is conveniently located just beside the sliding door on the right side of the van

Maxus Philippines General Manager Reginald See further explained that with the G10 Assist, elderlies and PW Ds can now join their fami lies in travels and share memorable adventures. “ The G10 Assist comes with the programmable sw ivel and lifting seat r ight at the second row, conveniently located beside t he sl id i ng door.

This seat swivels to face the sidewalk, slides out and can be lowered down to street level so that the elderly or the wheelchair-bound person can easily take the seat of disembark.”

The programmable swivel lifting seat is very easy to operate, via remote control or even through an iPhone. It has the following features, position memory function, path recover function, path obstacle sensor, door interlock, low-power detection and warning, mechanical manual function and anti-tip protection.

The G10 is a nine-seater MPV that boasts of modern and luxurious design.

It has spacious interior and first-class amenities, such as four captain seats at the rear, power adjustable seat for the driver and front passenger and f lexible seating configurations at the rear to maximize luggage room. It comes with a 7-inch touchscreen radio with Bluetooth and USB, six-speakers system, a 220-volt power supply for your gadgets charging needs and front and rear air-conditioning.

It is powered a by Euro-4 rated, 1.9-liter Turbo Diesel engine with the Common rail injection system that produces 150 hp and 350 N-m of torque. This is mated to six-speed automatic transmission.

S a f e t y - w i s e t h e G10 meet s t he g loba l sa fet y standards with its integrated body structure design, front and side air bags for the driver and front passenger, three-point seat belts on all seats, Isofix for child seats, front and rear parking sensors and rear camera.

The G10 is competitively priced at P1.680 million and the special assist feature is being offered as a dealer option for an additional cost of just P399,800. The G10 Assist offers the ideal pricing for the level of technology, comfort and convenience plus safety to boot.

It comes with a PMS interval schedule of the first 5,000 kms and every 10,000 kms or once-a-year whichever comes first. It has vehicle warranty of three years or 100,000 kms plus a 24/7 emergency roadside assistance, pickup and delivery service and an onsite servicing for corporate fleet accounts.

For more infor mation about Maxus Philippines offerings log on to their web site www.maxus.com.ph and their showrooms are located on Greenfield District 833, Sheridan Street, Barangay Highway Hills, Mandaluyong City, and in Cebu along Soriano Avenue, North Reclamation Area, Mabolo, Cebu City.

True Performance from Motul

M

OTUL’S top-of-the-line, full synthetic racing oil with technical expertise and race track experience crammed into it, 300V is the brand’s most popular product the most trusted brand by racing teams all over the world.

300V is cutting-edge stuff, and while you certainly can use it in every application, and advisable for usage for daily driving your high-performance car.

Mechanics at the Dakar Rally or LeMans endurance race empty a can of the stuff into the competition vehicles they service, and it’s the exact same stuff that you can buy off-the-shelf at your local Motul dealer or service provider.

Racing oils provide the same things that “street” (or regular) oils do: Protect the engine, improve power, the reliability and longevity of components. 300V is

a very specific product, and there are even different formulations for different racing applications, from sprint races to endurance rallies. The reformulated 300V line now has eight different product options. Six viscosities found previously in the line include: 0W20, 5W30, 5W40, 10W40, 15W50 and 20W60. Two new additional viscosities include: 0W15 for pure performance and 0W40 for power and optimized reliability.

So, besides those with actual racing cars, who should use 300V? Avid motorsport enthusiasts whose vehicle are in a high state of tune or which are used regularly at track days or sporting events, such as time attacks, gymkhana or drag races.

For details on how to improve your car’s performance, log on to www.motul.com.ph.

Motoring BusinessMirror

E4 Friday, September 20, 2019

TAI 30th anniversary an event to remember

S

OME celebrate milestones quietly. Not Cesar T. Lee (CTL), the patriarch of Toyota Alabang Inc. (TAI). In observance of TAI’s 30th year on September 13, CTL made sure that the affair would have all the trimmings of a grand affair adorned with all the trappings of a royal celebration.

“He [CTL] did everything under his command to make sure that this day would be the most memorable in the 30-year existence of TAI,” said Mike Lee, CTL’s soft-spoken son.

Among the celebrities present included the newly minted Information and Communications Technology Secretary Greg Honasan and, yes, the just-retired president of Philippine Airlines, Jimmy Bautista.

“I simply feel honored that CTL has invited me again to his party,” said Bautista, the University of the East vice chairman who was also present during the 2017 soft opening of CTL’s Toyota Alabang Center in Las Piñas City.

This night was a night of drinks, culinary

delights and cultural presentations featuring professional singers and a phalanx of wispy, towering pageant contestants who could all be considered more than qualified to join the Miss Universe contest as they pranced their way in the grand stage.

“In every CTL party, expect nothing but the best of the best,” said Dan Isla, who cut his motoring teeth at TAI on his way to becoming a Toyota top gun, capped by his appointment as the founding president of Lexus Manila Inc. in 2009.

Now based in New Zealand, Isla, a.k.a. Sir John, in tribute to his deep devotion to John Lennon, the Chief Beatle, left his Auckland home just to attend CTL’s smashingly successful bash, in the company of his charming wife, Joy. Indeed, CTL is one of a kind in the automotive business. We became instant friends the minute we were introduced in Tokyo during one Tokyo Motor Show event a decade or so ago.

“I am [the] happiest just seeing you all hap-

CESAR and Jhoanna Lee

py each time you honor my invitation,” CTL said.

Always, the pleasure is mine, Sir.

Jhoanna’s speech

THE following is Jhoanna Lee’s speech during the TAI party: “Good evening ladies and gentlemen: “Before I start, kindly allow me to acknowledge the presence of our distinguished guests and partners: “Yasumori Ihara, former president of Aisin Seiki Co. and former executive vice president of Toyota Motor Corp.

“Dr. Antonio Abacan, monetary board member, Bangko Sentral ng Pilipinas.

“Atty. Rommel Gutierrez, Campi president.

“Vince Socco, chairman, GT Capital Auto Dealership Holdings Inc. “Alfred Ty, TMP chairman.

“Dr. David Go, TMP vice chairman.

“Satoru Suzuki, TMP president.

“Kei Mizuguchi, TMP executive vice president.

“Jing Atienza, TMP senior VP. “Cesar T. Lee, TAI chairman.

“It is said that ‘a journey of a thousand miles begins with a single step.’

“Corollary, the journey of Toyota Alabang in providing customer delight south of Metro Manila started with the single step of our chairman, my father, Mr. Cesar T. Lee. “On September 15, 1989, Toyota Alabang

opened its doors to the public. This single step was filled with both excitement and uncertainty. “Excitement because we were proud to be the partner of the most respected, recognized and most loved automotive brand, not only locally, but also in Asia and the world.

“And, uncertainty because the 1986 People Power Revolution has just transpired and the economic roadmap of the country has yet to unfold. “But the strong and unwavering faith of our chairman in God, his belief in the resiliency of the Filipino people, the strong support of our partners in the financial and business community, and the assistance of the able leaders and team members of Toyota Alabang have made our initial journey most fulfilling and rewarding.

“We’ve also had our share of challenges.

Perhaps, the biggest roadblock was the Asian financial crisis of 1997. This rocked the very core of our foundation, but we never wavered nor questioned our ability as a team to rebound.

“Not only did we survive but we grew and continued providing customer service such that we needed a bigger facility to accommodate all our smiling customers who have continuously made Toyota Alabang their dealer of choice.

“Our journey continued on to a new home.

“In 2014, during our 25th anniversary, we opened in Filinvest City, Alabang—the first LEED gold certified Toyota dealership.

“We designed our facility to make our customers feel more relaxed and at home, while

inspiring creativity and efficiency among our team members.

“We made sure that we did not only respect the environment through LEED but we also continued to be the first Toyota dealer to pursue excellence in both quality management systems through ISO 9001 and attain superior environmental management systems through ISO 14001.

“In 2018, we opened this service facility to accommodate the continued increased demand for service and repair.

“We also hope that this Service Center, the biggest in far East Asia with its floor area of 32,000 square meters, will continue to bring genuine customer smiles.

“Our journey has always been guided by our passion to serve.

“Tonight, as we celebrate our 30th anniversary, we would like to thank all our loyal customers, business partners and team members for your strong belief and support.

“We have come a long way in the last three decades. Together, let us celebrate the beginning of the next 30 years!

“Thank you and enjoy the rest of the evening!”

PEE STOP Happy 23rd birthday, Mico, (September 14), the handsome son of Mike Lee.…

Congrats to TMP first VP Sherwin Chua Lim for his newly born son! Cheers!