BusinessMirror September 24, 2019

‘BUSINESS AS USUAL’ IN LOANS, GRANTS T

HE Department of Finance (DOF) and the National Economic and Development Authority (Neda) said it’s still business as usual when it comes to official development assistance (ODA).

Finance Secretary Carlos G. Dominguez III told reporters on Monday that the suspension of talks with countries which voted in favor of the United Nations Human Rights Council (UNHRC) resolution “will not have a significant impact on the country.”

Dominguez said the suspension will not affect the existing ODA grants and loans that are being implemented. For projects that may be affected, assistance from multilateral development banks (MDBs) can be sought by the government, he added.

“All proposed engagements with said countries except for one small project loan in the

DEMOLITION GOES AWRY Rescuers search for a worker believed to have been trapped when a Sogo hotel being demolished in Malate, Manila, suddenly collapsed on Monday morning. The collapsed building killed two workers and wounded several others. NONIE REYES

amount of €21 million are technical assistance grants and hence will not significantly affect the infrastructure program of the government,” Dominguez said.

“In any case, multilateral development financial institutions and other bilateral partners have signified their intention to finance the said €21-million [project],” he added.

The finance secretary also said the rates being offered by these countries are comparable to those offered by multilateral development banks and other bilateral partners.

Dominguez said total grants on record amounts to $377.43 million from these countries. Australia accounts for $228.89 million, followed by Italy with $4.71 million.

Other countries include Spain with $0.57 million; France, $6.72 million; and Germany, $151.31 mil-

lion. The list included France and Germany because these two countries sponsored the resolution.

No longer on table Neda sources, meanwhile, told the BusinessMirror that projects such as those mentioned in news reports—the Trade, Inclusive Growth and Economic Reform (Tiger) for the Philippines and the Public Financial Management Program for Institutions and Infrastructure (PFMP-II)—were no longer on the table even before the UNHRC resolution.

The $56.25-million Tiger project aimed to help the Philippines achieve sustained and inclusive growth by connecting the Philippines with the global economy: aid for trade and improving competitiveness through domestic regulatory reform.

See “Loans,” A8

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Tuesday, September 24, 2019 Vol. 14 No. 349

Flagship projects face ‘recalibration’–source ₧187.628B T

By Cai U. Ordinario

@caiordinario

HE national government is in the process of recalibrating flagship projects “to catch up with the Build, Build, Build agenda,” according to sources at the National Economic and Development Authority (Neda).

On Monday, Neda sources told the BusinessMirror that this recalibration could lead to an increase in the number of flagship projects to be undertaken by the Duterte administration.

A Neda source said some proj-

ects could be “reprioritized due to technical constraints” while additions to the flagship list could be made given the feasibility of these projects.

This newspaper was also told that the government intends to

complete the process of updating the P2.4 trillion worth of flagship projects before the end of 2019.

The Neda source said the process aims to create more viable and sustainable projects. This is crucial since a number of the

Cost of the 21 projects expected to be completed by 2022, fewer than the Neda’s April estimate of 25 projects

flagship projects will be completed after 2022.

Last month, Neda documents furnished to reporters showed that as of July, only 21 projects will be completed by 2022. This is fewer than the Neda’s April estimate of 25 projects.

The 21 projects expected to be completed by 2022 cost P187.628 billion. The remaining 54 projects costing P2.23 trillion will be completed beyond 2022.

See “Flagship,” A8

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‘BUDGET BILL TWEAKS FREE UP P10B FOR PROGRAMS’

By Jovee Marie N. dela Cruz @joveemarie

T

HE House of Representatives made adjustments in the proposed General Appropriations Act (GAA) for next year to boost the implementation of government programs and allow the Philippines to participate in international sporting events, Speaker Alan Peter Cayetano said on Monday.

Cayetano said in an interview the P10 billion in freed-up funds will go to the National Food Authority (NFA) to beef up its palay procurement fund, enhance the K to 12 program by the Department of Education, fund nationwide electrification, the 2020 Asean Para Games and Tokyo Olympics and implement the Expanded National Integrated Protected Areas System Act of 2018.

According to Cayetano, the P10 billion will come from the postponement of the barangay elections in May 2020 and from right-of-way funds.

“So these are the areas that would have changes, in my personal calculation, less than P10 billion,” he said.

Cayetano said the House coor-

With new oil supply, prices seen easing in next few weeks

By Butch Fernandez

F

@butchfBM

EARS that the supply disruption caused by drone attacks on Saudi Arabian oil facilities would have a longer, deeper impact on the Philippines were eased on Monday as the Senate Energy committee heard the outlook on supply and prices presented by energy authorities.

Summing up Monday’s committee hearing, Sen. Sherwin T. Gatchalian, committee chairman, struck an upbeat outlook, projecting the possibility of another oil price rollback—or at least stable prices—by next week when new supply from the US and other sources come in.

“We discussed the short-term supply situation and in the next 30 days, there will be continued supply of gasoline and diesel into the country due to inventories by oil companies and the improving situation in Saudi Aramco,” Gatchalian said in a mix of English and Filipino.

By the end of the month, Gatchalian added, “magiging full capacity na ulit ang mga nasirang planta at meron rin silang buffer stock na magsu-supply sa atin. Ngayon, tataas nang konti ang presyo dahil nakita

PESO exchange rates n

Thomas Cook collapse has little effect on PHL, but...

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

“We discussed the shortterm supply situation and in the next 30 days, there will be continued supply of gasoline and diesel into the country due to inventories by oil companies and the improving situation in Saudi Aramco.”—Gatchalian

natin na tumaas ito in the country due to inventories by oil companies and the situation ng presyo this week pero bababa ulit yan next week. Maraming mga bagong supply na pumasok like US at iba pang mga bansa, kaya ang presyo ng langis ay bababa ulit next week.

[The damaged Saudi plans will return to full capacity and they have a buffer stock that they can supply us with. For now, the prices will go up somewhat, as we’ve seen here due to the inventories by the oil companies, but that will go down again next week. A lot of new supply from the US and other countries has come in, so oil prices will decline again next week].”

Gatchalian conceded that the recent upward adjustments in oil prices were “ justified” due to recent developments in the Middle East.

See “Oil,” A2

dinated these adjustments with the Executive branch to avoid a presidential veto of the proposed GAA. The House’s small committee will still accept amendments to the national budget from lawmakers even after the third-reading approval, he added.

“We passed [the GAA] on third reading [last Friday] with that colatilla. This has been the tradition of the House ever since. [It will be difficult to] allow individual amendments on the floor and we have 300 congressmen [to entertain],” said Cayetano.

The Speaker also clarified that the P1.6 billion in additional budget for the House will go to improving its Congressional Planning and Budget Office (CPBO), facilities and newly created committees.

“Let me just reiterate that there’s no pork, no delays and there’s no parking fund [in the 2020 national budget],” Cayetano said.

Majority Leader Rep. Martin Romualdez also guaranteed the constitutionality of the 2020 national budget.

The House approved on third reading the proposed P4.1-trillion GAA on Friday after the President certified the measure as urgent.

T

quarantine] are in Central Luzon.

We will mention the exact areas in due time. The work is ongoing and depopulation continues up until today,” Dar added.

Under the 1-7-10 protocol, the government will cull all pigs within the 1-kilometer radius of the suspected farm while the movement of pork and pork products within 7 kilometers would be limited.

HE collapse of a global travel institution Thomas Cook will hardly have any impact on British visitors to the Philippines. However, there are lessons that Philippine stakeholders can learn from the United Kingdom’s largest holiday firm, and the oldest in the world.

“I just spoke to the presidents of the Tourism Congress of the Philippines [TCP], Philippine Travel Agencies Association, [PTAA] and Philippine Tour Operators Association. All three of them believe that the collapse of Thomas Cook will have minimal effect on inbound tourists to the Philippines as the volume to the country is very small.

Thomas Cook sends its clients to other destinations,” said Undersecretary for Tourism Development Planning Benito C. Bengzon Jr., spokesman for the Department of Tourism.

But he told the BusinessMirror, “just the same, DOT personnel in key gateways have been instructed to provide assistance to tourists affected.”

In the seven months to July 2019, tourists from the United Kingdom increased a slight 3.4 percent to 125,371, keeping their place firmly as the eighth top market for inbound travelers.

See “ASF,” A8

See “Thomas Cook,” A2

HOME AGAIN Some of the 81 overseas Filipino workers repatriated from Riyadh are seen arriving on Monday, September 23, via Philippine Airlines Flight PR 655. The government continues to repatriate migrant workers facing problems in their host country, or are caught in conflict areas. NONIE REYES

DA chief: 12th ASF outbreak recorded in Antipolo

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

he Department of Agriculture (DA) on Monday announced that the 12th African swine fever (ASF) outbreak was recorded in Antipolo City and that the government placed more areas in Central Luzon under quarantine.

However, Agriculture Secretary

William D. Dar did not specify the additional sites in Central Luzon that are now under quarantine.

Dar said authorities are still completing the depopulation of hog farms to control the spread of the ASF virus.

“We have just placed [the new area in Antipolo] under quarantine by applying the 1-7-10 protocol,” he told reporters in an interview on Monday. “The other areas [under

US 52.1420 n japan 0.4841 n UK 65.0054 n HK 6.6530 n CHINA 7.3528 n singapore 37.8774 n australia 35.3106 n EU 57.4657 n SAUDI arabia 13.9016 Source: BSP (23 September 2019 )

News

BusinessMirror

A2 Tuesday, September 24, 2019

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‘No-coal scenario not possible right away’

By Lenie Lectura

O

@llectura

FFICIALS of the Manila Electric Co. (Meralco) on Monday said the country’s reliance on coal, as energy source, will continue unless a cheaper and reliable replacement is assured.

“We cannot stop coal. You cannot just stop coal plants...okay, let’s stop coal but what do we replace it with? Renewable? It can’t be all RE [Renewable Energy], LNG ( liquefied natural gas)? Then how do you deal with its price?

And then by the way, LNG is fossilbased,” said Meralco President Ray Espinosa when asked if Meralco and its power generation arm, Meralco PowerGen Corp. (MGen), will stop utilizing coal.

Meralco, host for this year’s AESIEAP (Association of Electricity Supply Industry of East

Asia and the Western Pacific), said it is doing its share to achieve the region’s goal to reduce carbon footprint to zero.

“We need to start working on an energy transition plan. That means we have to balance—it cannot be a no-coal immediately. The rest of the presentors were also saying the same things. And it depends on the reason. There is no one size fits all,” said MGen President Rogelio Singson during a press conference.

MGen is beefing up its power portfolio to 1,200 megawatts (MW). At the same time, it is engaged in other

coal power plant projects.

“In our minds, we have set an agenda whereby as we contract stable sources of power, our minds are actually focused on basically moving ourselves from a high carbon to low-carbon footprint, and hopefully to a zero-carbon electricity, which is tapping renewables.

The issue in the Philippines is the abundance—whether it can actually substitute fully for fossil fuels.

That’s a big question,” explained Singson.

Espinosa said the country could not survive on RE alone because the country’s power grid is not suited to handle RE alone. “It is not possible to be 100-percent renewable because, for one, the grid cannot handle it. And by the way, the grid has to change. Even if you have 100-percent renewable but the grid is still the same...our grid is not geared to that, so even the grid will have to undergo this transition,” he said.

Data from the Department of

“We need to start working on an energy transition plan. That means we have to balance—it cannot be a no-coal immediately....

And it depends on the reason. There is no one size fits all.”—Singson

Energy show coal plants make up nearly 40 percent of the country’s over 21,000 MW of installed energy capacity. RE accounted for 32 percent, natural gas with 15 percent and oil-based plants with 13 percent.

“You cannot demonize coal because we have to also understand we want to fuel economic growth. The demand for power becomes higher when we are basically seeing high growths.

“You cannot stop that. But, at the same time, the other side of the equation is we have to provide electricity at affordable prices.”

Espinosa added, “by the way, it

Who got ₧35M in reward for Batocabe slay?

A LAWMAKER has asked the Philippine National Police (PNP) to explain before the House of Representatives how it distributed the P35million reward raised for the capture of the killers of Ako Bicol Rep. Rodel Batocabe.

Ako Bicol Rep. Alfredo Garbin said lawmakers, who contributed P13 million as part of the reward, want transparency and accountability from the PNP. “We will wait for the PNP accounting on how they distributed it among the material witnesses to the Batocabe murder case,” he said. “We wanted a fast resolution of this case,” Garbin added.

According to Garbin, a total of P20 mil-

Oil. . .

Continued from A1

“The price uptick was justified because prices of oil and diesel rose somewhat after the Saudi incident, but the government must ensure that this will go down next week since a lot of new supply has come in. The price hike is temporary; what’s important is ensuring that prices ease next week. From the graph we saw at the hearing, the uptick in prices had started even before the Saudi attack happened; the trend was upward.”

On the eve of the Gatchalian panel hearing, oil companies announced on Sunday the biggest fuel price hikes for the year, and the first adjustment to input the impact on global markets of the drone attacks on Saudi Arabian oil facilities.

Announcements of the new price hikes—a whopping P2.35 per liter of gasoline, P1.80 for diesel and P1.75 for kerosene, to take effect 6 a.m. of Tuesday—were made by Pilipinas Shell and PetroGazz, with other oil firms expected to follow suit.

The oil price increase reflects movements in the world oil market. One factor that led to this week’s price adjustment was the September 14 drone attack on Saudi Aramco’s facilities.

So far, Gatchalian said that “what I see on the records is not questionable, but we must continue to monitor especially in the

ASF. . .

lion in reward came from President Duterte, while the P2 million came from the provincial government of Albay.

Batocabe, a mayoral candidate in Dagara town in Albay, and his police escort, SPO1 Orlando Diaz, were killed while they were leaving a gift-giving event in Brgy. Burgos in Daraga on December 22, 2018.

Earlier, the Ako Bicol Party-list condemned the setting free of Carlwin “Awin” Baldo, the suspected mastermind of the Batocabe-Diaz killing. “Murder is non-bailable yet with one stroke of a pen this judge revisits to the families of the victims the pain of losing their loved ones,” the party-list said.

provinces, dahil may mga gasolinahan sa probinsya na mas mataas pa kaysa sa 2 pesos ang kanilang itinaas. So importanteng mai-report itong mga gasolinahan at matanggalan ng lisensya [because there were gas stations in the provinces that imposed price hikes of more than P2. So, it’s important to track these stations so their licenses can be seized].”

Resolution 139

The Senate, acting on Gatchalian’s Resolution 139, earlier directed the Senate Energy committee to conduct an inquiry, in aid of legislation, on the “short- medium- and long-term plans of the Department of Energy to achieve energy security to mitigate the adverse repercussions of supply shocks,” citing the September 14 Saudi oil field attack.

In seeking the inquiry, Gatchalian cited the need for the Senate to assess the situation, including the “short-medium- and long-term plans of the Department of Energy to achieve energy security to mitigate adverse repercussions of supply shocks in case of another incident similar to the Saudi oil firm attack which, he said, “ eliminated about 5 percent of global oil supply and triggered a 12-percent increase in oil prices last September 16, in what was billed as the biggest jump since the 1990-91 Gulf crisis.

The Gatchalian Resolution also recalled the Saudi Arabia Energy

Hog deaths

Continued from A1

The government will conduct surveillance and monitoring within the 10-kilometer radius.

This protocol was also implemented in Rodriguez, Rizal (Brgys.

San Isidro, San Jose, Macabud, Geronimo, San Rafael, Mascap, San Mateo Slaughterhouse), Antipolo (Brgy. Cupang), Quezon City (Brgys.

Silangan and Payatas), and Guiguinto, Bulacan, which recorded hog deaths due to ASF.

Garbin said Branch 10 of the Regional Trial Court of Legazpi City ordered Baldo’s release on bail even though all the accused-conspirators pointed to him as the mastermind of the killing.

“We cannot fathom how the judge could have made such a ruling when the evidence is overwhelming against Baldo. The witnesses have spontaneously and separately identified him as the mastermind, the evidence gathered by the police point to him as the mastermind, and he has a clear motive to mastermind the commission crime. There is enough evidence to convict and definitely more than enough to deny bail,” he added. Jovee Marie N. Dela Cruz

Dar said depopulation activities since September 9 resulted in the killing of 15,000 hogs.

“In terms of the number of population of hogs all over the country, which is more than 12.8 million heads, the [figure] is just about 0.08 percent to 0.09 percent,” added.

Dar also said the nine outbreaks of ASF in Rodriguez, Rizal; Antipolo; and Bulacan have been contained and controlled.

“We don’t see for any recurrence of the virus in those areas.

We have properly managed, contained, and controlled [the virus].”

The DA chief disclosed that there were observations of increased swine deaths, which were possible ASF cases, as early as May. “I don’t know whether they [previous DA leadership]” rolled out “preventive measures or quarantine measures.”

In its first report on the ASF outbreaks to the World Organisation for Animal Health or OIE last September 9, the Philippines said it had

Meat. . .

Continued from A8

Asked if the petition to raise canned meat prices is caused by the African swine fever (ASF) troubling the local hog industry, Lopez said the appeal was made long before the animal disease hit the Philippines. It just so happened the DTI is reviewing the petition recently, he added.

Lopez said manufacturers are seeking to increase retail prices to cope with higher cost of raw materials, particularly inputs

Minister saying last September 18 that Saudi Arabia will restore oil production by the end of September.

Cusi’s hope: softer prices

Meanwhile, after this week’s hefty oil price increase, Energy Secretary Alfonso Cusi hopes that pump prices next week will soften.

“Based on the situation now, hopefully, we are praying that it will go down. We are not a player in the market, we are just buyers,” said Cusi. More oil firms announced Monday that they will adjust gasoline prices by P2.35 per liter, diesel by P1.80 per liter and kerosene

by P1.75 per liter effective Tuesday morning. This is the biggest oil price increase for the year.

Petron Corp., PTT Philippines, Phoenix Petroleum, Total Philippines and Seaoil announced their respective price adjustments Monday afternoon.

While global oil prices already went up days before the drone attacks on Saudi Arabian oil facilities, Cusi said the incident mainly led oil firms to raise fuel prices. The oil price increase reflects movements in the world oil market, he reiterated. “[Oil firms] can buy at high price and sell it here at low prices but they can also buy at high prices and sell at low prices. It’s a free enterprise. It’s a risk for them. That’s why consumers have the choice,” said Cusi. With a report by Lenie Lectura to cull 7,416 hogs.

The ASF outbreaks in the Philippines started on July 25, nearly a month before the government formally announced that a “mystery” disease is killing hogs, according to Manila’s notification to the OIE. In the notification, submitted last September 9, the Philippines said it received on August 30 the results of the confirmatory tests which confirmed that ASF killed hogs in seven areas.

The results of tests on pig blood samples done by the Animal Disease Diagnostic and Reference Laboratory in the Philippines revealed that ASF was responsible for the deaths of the animals.

Manila then tapped The Pirbright Institute, an OIE reference laboratory, for confirmatory tests. The institute found that 14 out of the 20 blood samples were positive for ASF. The Philippine government said in its notification that the event is “continuing” and committed to submit weekly follow-up reports to the OIE.

and tin cans.

Further, Lopez warned there could be another round of petitions if fuel prices shoot through the roof as a result of the drone attacks in Saudi Arabian oil facilities. However, similar to estimates by his fellow economic officials, Lopez said this crisis in the Middle East should only jack up fuel prices in the Philippines by 8 percent to 9 percent.

Oil firms Pilipinas Shell and PetroGazz last Sunday announced they are set to implement price hikes of P2.35 per liter

has to be reliable. If electricity is not reliable then it’s useless. If it’s not affordable then it’s not for the benefit of the public.”

That, he added, “is what we need to balance and to find the right equation is not very easy actually for us to do. Every country in the world is experiencing that problem and they have different ways of responding to it.”

AESIEAP, a regional organization of power industry players, concluded its CEO Conference 2019 with a definitive blueprint on how to best leverage prevailing energy policies and innovations that lead toward sustainable and inclusive economic development.

Energy Secretary Alfonso G. Cusi delivered the special address on beha lf of President Duterte. He said, “Despite racing to meet our current energy requirements, we always need to ensure that the decisions we make today will not endanger the ability of the coming gen-

Thomas Cook. . .

Continued from A1

In terms of travel expenditure, however, tourists from the UK placed fourth among the top spenders in the Philippines in the first half of the year, at $1,218.06 each, on 106,673 arrivals. The market spent a total of $129.23 million (P6.76 billion) during said period, making them a desirable market for the Philippines.

The 178-year-old Thomas Cook closed shop on Monday (Sunday in London) after talks with its lenders for a £150-million (P9.75billion) bailout package fell through. The UK government is now trying to bring home some 150,000 holidaymakers from different parts of the globe, in what has been dubbed as the country’s largest ever peacetime repatriation, dubbed Operation Matterhorn. See related story in Companies section, page B1.

In a separate interview, Ritchie Tuaño, president of the PTAA said, “while Thomas Cook is a long-established and big tour operator, there are many others who would fill in the void.”

Lessons for PHL

He suspects the financial troubles at the UK travel firm, which also operates its own fleet of planes, may be because “big companies are tied up with long-term contractual and/

Coco-levy. . .

Continued from A8

Also, Presidential Commission on Good Government (PCGG) Commissioner Reynold Munsayac told lawmakers that the coco-levy assets, including its properties, are valued at P300 billion.

“We created another task force to conduct an audit because of the pending approval of the last bill that was vetoed. We will be able to finish that if this bill will already be submitted to the President for his approval,” Munsayac said.

Cayetano said it is time for funds to be appropriated for the benefit of all coconut farmers and for the development of coconut industry.

“We will make sure that the coconut farmers benefit from the coco levy, that, aside from the coco-levy funds, there will be more funds for infrastructure, research to strengthen the coconut industry; and that we will support efforts to recover the remaining funds,” he said.

While the coconut levy is one of

in gasoline, P1.80 in diesel and P1.75 in kerosene—the biggest so far in the year— in reflection of movements in the global market.

On the other hand, Lopez disclosed the DTI is trimming the number of products covered under the suggested retail price list. He said he wants to return the SRP list to its regular rundown of just around 140 goods to make it easier for the agency to monitor their retail prices.

“I told the group not to issue a new SRP list for the meantime because we

erations to f u lf i l l their ow n needs in the future. There must be strong synergy between the public and private sector to secure a progressive, inclusive and sustainable energy future.”

The conference also served as a venue for environmental sustainability and inclusive development advocacies in the power sector.

“This is a gathering of influential CEOs and government leaders who are in the position to come up with transition plans for the adoption of energy efficiency, renewable energy and information communication technolog ies.

Renewable-energy penetration in the Philippines is at 32 percent,” said Singson, who is also AESIEAP secretary-general. “We hope that our government and power industry leaders were able to inspire our Asia-Pacific counter parts to seriously consider increasing their own respective countries’ renewable-energy capacities to ideal levels of around 30 percent.” or financial obligations. When market trends and demands shift, they are not as flexible to adjust their strategies.”

If any lessons are to be learned by Philippine travel agencies, Tuaño stressed, “with the fast changing times, it is best to be always dynamic and adjust accordingly to innovations and everchanging trends.”

For his part, Jose Clemente III, president of TCP, expressed surprise at the collapse of Thomas Cook. “That was a shocker,” he said. He didn’t pin the blame on the travel institution’s collapse on any one thing. “It’s a confluence of so many things. Online channels, changing preferences, pricing and so on. There are advantages and disadvantages to dealing with brick-and-mortar companies. Maybe they [Thomas Cook] were not able to adapt quicker to those changes.”

While younger generations of Filipino travelers book their flights and vacations online, the more established set of travelers, especially those who have more destinations in their lineup, still depend on regular travel agencies to coordinate and book their holidays.

Thomas Cook, with sales of some £9 billion (P45 billion) a year, has over 21,000 employees, including 9,000 in its home office in the UK. The massive repatriation effort is estimated to cost British taxpayers about £600 million (P39 billion), according to published reports.

the priority bills of the Duterte administration, the President vetoed the Congress-approved coco levy bill during the 17th Congress for lacking vital safeguards to avoid repeating the mistakes committed in the past.

Duterte said the establishment of an effectively perpetual Trust Fund as mandated in Senate Bill 1233 and House Bill 5745 violates the Constitution.

Under Article VI, Section 29(3) of the 1987 Constitution, “All money collected on any tax levied for a special purpose shall be treated as a special fund and paid for such purpose only. If the purpose for which a special fund was created has been fulfilled or abandoned, the balance, if any shall be transferred to the general fund of the government.”

Moreover, Duterte said the absence of a limit on a covered land area for entitlement to the benefit of Trust Fund “may disproportionately benefit wealthy coconut farm owners more than the smallholder farmers who desperately need the government’s affirmative assistance.”

are also trimming down the SRP. We are bringing it back to its normal list of, I think, 140 plus [products, and] we are now 250. We enhanced it last year because of the inflation issue,” Lopez added.

The DTI was compelled to expand the coverage of the SRP list to manage the prices of basic goods at a time inf lation was spiking to record high numbers. Inf lation hit a record high rate of 6.7 percent in September and October of last year in large due to tax hikes and rice supply shortage.

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The Nation BusinessMirror

DOJ orders NBI to investigate PMA cadet’s death by hazing

By Joel R. San Juan

@jrsanjuan1573 & Rene Acosta @reneacostaBM

J

USTICE Secretary Menardo Guevarra on Monday directed the National Bureau of Investigation (NBI) to conduct its own probe on the death due to hazing of a 20-year-old Philippine Military Academy (PMA) cadet in Baguio City, even as two junior military officers have been relieved of their posts, while two more cadets are being investigated as possible suspects.

“The NBI, through Director Dante Gierran, is hereby directed and granted authority to conduct an investigation and case build-up on the hazing of PMA Fourth Class Cadet Darwin Dormitorio that resulted in his death last September 18, 2019, in Baguio City, and if, evidence warrants, to file the appropriate charges against persons found responsible,” Guevarra said in his order.

The NBI was also compelled to submit reports on the progress of its investigation to the justice secretary.

An autopsy conducted on Dormitorio showed bruises on different parts of his body that the police said are probably the result of him being punched and kicked several times.

The PMA said three upperclassmen of Dormitorio are being now questioned for his death as the academy pledged cooperation in the investigation.

Dormitorio, a son of retired of Col. William Dormitorio, a member of the PMA Marangal Class of 1974, died Wednesday after complaining of stomach pain.

Prior to his death he was confined at the hospital twice in the previous weeks prior to his death.

Maltreatment in hazing or initiations rites have been prohibited since the enactment of Republic Act No. 8049, or the Anti-Hazing Act of 1995, which was later criticized after only one conviction was secured over 23 years.

President Duterte signed Republic Act 11053 last year which imposes a fine of P3 million aside from 20 to 40 years in prison for hazing rites that would result in death, rape, sodomy or mutilation.

The new law was signed as an offshoot of the death of Horacio “Atio” Castillo III due to hazing.

Castillo died in an initiation rites conducted by the University of Santo Tomas-based Aegis Juris fraternity in 2017.

The Castillo family offered condolences to the Dormitorio family

even as they called on lawmakers to make hazing a heinous crime to deter its commission.

PMA Spokesman Major Reynan Afan Jr., meanwhile, said the leadership of the academy relieved the senior and tactical officers of Dormitorio, whom he did not name, but hold the ranks of a major and a captain in order to ensure the impartiality of the investigation.

“The reason is really for us to have an impartial investigation since they are related to the case, especially the tactical officer. The tactical officer is basically the father of the company,” Afan said.

“The tactical officer has responsibility over the everyday life and individual situation of the student,” he added, although he believed they were not involved in the hazing.

The academy spokesman said two upperclassmen of Dormitorio were also being investigated in order to determine whether they could be added on the list of suspects in the death of the plebe. For now, however, they are still being called as “persons of interest.”

Earlier, three upper classmen have been considered by both the PMA and the Philippine National Police that are looking into the criminal aspect of Dormitorio’s death, as suspects. Afan however did not name them, along with the two persons of interest.

A joint statement by PMA and the PNP said that nine cadets are also being considered as witnesses, emphasizing that those who would be found guilty of maltreatment by the academy would be charged of violating the Anti-Hazing law.

The PMA is looking into the administrative side of Dormitorio’s death while the PNP is focusing on the criminal side.

“Maltreatment is never and will never be a part of the academy’s mission to instruct, train and develop the cadets. The full extent of the law shall be enforced,” the statement read.

Malacanañg, for its part, condemned all forms of “barbaric practice” like hazing as it lamented that there was a “failure in leadership” in the academy to stop this “murderous ritual.”

In a news statement on Monday, Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo also expressed confidence that authorities would implement the Anti-Hazing law signed by President Duterte and leave no stone unturned in the ongoing investigation on the fate that befell.

With Bernadette D. Nicolas

CBCP unveils logo for Christianity’s quincentennial celebration in 2021

By Samuel P. Medenilla @sam_medenilla

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HE Catholic Bishops’ Conference of the Philippines (CBCP) has marked another milestone for its preparation for the celebration of the 500th anniversary of the arrival of Christianity in the country in 2021 with the unveiling of its official logo.

In a circular, CBCP SecretaryGeneral Fr. Marvin Mejia said the logo created by Edilberto Dionio, a theology student, was revealed to the CBCP’s permanent council, which is tasked to prepare for the celebration on September 18, 2019.

The round logo features the depiction of the first baptism conducted by foreign priest in the country as with the Fernando Amorsolo’s painting, First Baptism in the Philippines.

“The Cross signifies the Christian sign of salvation. Here it is prominently depicted as the Magellan’s cross. It also depicts the strong mast or a tall post as structure of the ship to carry the sails,” Dionio said in his explanatory notes.

The logo also shows the Philippine sun and a color scheme similar to the Philippine flag to

emphasize the influence of Christianity in the country.

To represent the Christian faith, the logo contains the ichthus or the fish, which is the symbol used by early Christians to represent Jesus Christ, and beads of Rosary, which is usually identified to the Holy Mary, the mother of Christ.

“With humble acknowledgement of historical development of the Philippine land, we highly attribute its progress to the influence and drive by those early Christian missionaries who founded institutions that enhanced the life of Filipinos,” Dionio said.

“Now, we are not just recipients of foreign missionaries but also senders of missionaries all over the world. Conquering the world with the love of God as the primary mission of the Holy Trinity entrusted to the Church,” he added.

Despite the release of the logo for the 500th celebration, Mejia noted CBCP will still be celebrating the Year of Ecumenism and InterReligious Dialogu next year, which will have its separate logo.

To recall, CBCP started its nineyear thematic celebration in 2013 in preparation for the 500th year anniversary of Christianity in the country.

Editor: Vittorio V. Vitug • Tuesday, September 24, 2019 A3

Naia ups anti-terror drive with purchase of high-technology security equipment

By Recto Mercene @rectomercene

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HE Manila International Airport Authority (Miaa) has acquired some P400 million worth of high-tech equipment capable of detecting bombs, guns and other incendiary materials that will be installed at Manila’s four major passenger terminals and alternative airports across the country.

Miaa General Manager Ed Monreal said the Office Transportation Security (OTS) will utilize the new equipment as part of government’s efforts to address the increasing sophistication of terrorists.

The Miaa purchased several models of x-ray scanners and bomb detectors that enabled the premier airport to pass with flying colors the yearly assessment being conducted by the United States Transportation and Security Agency (USTSA).

“The USTSA had just finished their second assessment this year and we passed it again. Just awaiting for the official report,” Monreal said in a text message to the BusinessMirror.

In view of this positive development, the OTS said it would now adopt the latest high-tech equipment in all of the four airport passenger terminals, including the major alternative airports in the archipelago “to shape security across all airports in the country.”

The OTS, he added, as the primary overseer of the country’s transportation security, “will implement all of these best practices in all airports in Luzon, the Visayas and Mindanao.”

BuCor, DOJ resume process of cleaning up GCTA convict list

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HE Bureau of Corrections (BuCor) will now start releasing convicts who surrendered to authorities but were actually not covered by the anomaly in the implementation of the controversial expanded good conduct time allowance (GCTA).

Justice Undersecretary Markk Perete said the release will be done even before the BuCor completed the cleanup of the list of heinous crimes convicts it earlier released.

As of September 23, Perete said a total of 2,221 former prisoners have surrendered, 1,985 of whom are already at the BuCor while 236 are still under the custody of the PNP. The number of surrenders is apparently higher than the 1,914 list of heinous crime convicts that the BuCor earlier said were covered by President Duterte’s order to surrender due to the erroneous application of the GCTA that led to their premature release.

Asked if there are inmates released due to GCTA but who are nevertheless qualified to be released, Perete said, “in due time, there will be.”

“We understand the BuCor will start releasing those who surrendered whose releases are not GCTA-related to begin with. They will be made even before the completion of the cleaned-up list,” Perete said.

He said inmates whose release were not GCTA-related were actually asked to leave the premises of the New Bilibid Prison in Muntinlupa but they insisted on staying until they were given certification attesting to their release which would prevent them from being rearrested.

They are being held at the minimum security compound of the national penitentiary while their cases are being verified.

Joel R. San Juan

“This will be another strategic direction that the agency aims to push forward on top of the baseline security measures it instituted, to upgrade security in light of continuing terror threats,” Monreal said.

The OTS, for its part, said these best practices being implemented at the airports involve the enhancement of passenger and baggage screening, which is considerably the most visible aspect of aviation security; access control measures; deployment of advanced explosive detection technologies.

The BusinessMirror interviewed Richard Aspiras and Karen Francisco, OTS area supervisors at the Ninoy Aquino International Airport (Naia) Terminal 1.

The duo were more than willing to explain to this reporter how the newly acquired machines work. They explained in details how the new Integrated Detection Security System (IDSS) is able to detect bombs, guns, gunpowder, explosives and other incendiary materials.

Previous scanners posted at the four Naia terminals could only provide a one-dimensional image of luggage and cargo. Subsequent x-ray scanners, on the other hand, could display a luggage or cargo in twodimensions, showing the top or edge of any suitcase, bag or any container.

“These scanners,” Aspiras said, “could detect suspicious items highlighted in red. Not all items, however, are identifiable and shows only as dark blobs, which could only be identified by exposing them to visual inspections.”

However, the latest edition of

these x-ray scanners, could be able to see all items that goes through it in three dimension. “Viewing the screen, we could see the top, edge or bottom of suitcases and bags,” said Aspiras.

He said the new scanner is manned by four personnel, two of them assisting the passenger in submitting all of their personal belongings and dumping them in a tray, which goes through the x-ray machine, while another views the screen monitor and the other takes a rejected and suspicious item for closer scrutiny.

Francisco, on the other hand, said the tray containing the passenger’s personal items moved through the scanner in 12 second from the moment it enters one end of the machine until it exits on the other end. She said it takes only three seconds for the scanner to identify a bag or suitcase containing an explosive, gun or any prohibited item.

“This IDSS machine automatically ejects the questionable suitcase or bag at the side of a conveyor, while the rest of the pieces of luggage continue their journey to the exit point,” she said.

“A luggage or tray containing the prohibited item like a gun, explosive or drug is immediately isolated and the owner is called to determine ownership before the passenger is subjected to questioning,” Francisco said.

Aspiras said the Naia Terminal 3 would have three pieces of IDSS, Terminal 2 and Terminal 1, one piece each. The total acquisition cost of the IDSS, however, was not revealed.

Monreal added that the Miaa also

purchased L-3 scanners, the first batch which cost P228,540,000. The second, batch of 23 scanners costs P127,880,000 and the last batch of 21 units of scanners cost P49 million for a grand total of P405,420,000.

Included among these purchase are another x-ray scanners called explosive trace detector/device (ETD).

As the name implies, these scanners are highly sensitive equipment that identifies even small traces of gunpowder, explosives and other incendiary devices.

“Some of the ETDs were donated by the USTSA,” according to Monreal, who added all of these technology upgrades are part of the premier airport’s enhanced security procedures.

The OTS on the other hand, said their “facility improvement, enhanced background checks and policy are meant “to keep pace with changing international and national security requirements.”

The OTS said they plan to convince Transportation Secretary Arthur Tugade to implement the abolition of the ID passes for airport visitors.

The OTS has ordered that no one, no matter how high in the government and private sectors shall be exempted from undergoing security checks “Our own employees and officers must lead by example,” said OTS Administrator Raul del Rosario.

He, likewise, ordered that as a matter of protocol, entry/special passes shall not be issued except for security and truly exceptional reasons and those that are provided by relevant law, rules and regulations.

A4 Tuesday, September 24, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

DTI seeks early release of portion of P1-B innovation fund for MSMEs

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By Elijah Felice E. Rosales

@alyasjah

HE Department of Trade and Industry (DTI) is seeking the release of at least 20 percent of the annual P1-billion fund allocated for the crafting and implementation of programs and projects geared toward innovating the operations of micro, small and medium enterprises (MSMEs).

Trade Secretar y R amon M. Lopez said the DTI is requesting Congress to release at least P200 million of the P1-billon innovation fund institutionalized by the Philippine Innovation Act. The yearly allocation was created to assist MSMEs engaged in developing innovative solutions that are benefiting the poorest of the poor.

The fund, from which grants to MSMEs will be issued, is administered by the 25-member National Innovation Council (NIC), of which the DTI is a part of.

“The innovation fund is supposed to have P1 billion, but in the Congress, as we discussed in the deliberation of the bud-

get, we try to add about the first P200 million or P300 million for next year so we can start with this. We are making that appeal to the Congress, the Senate, as we deliberate on the budget to include this part that’s included in the law, but was not included yet [in the budget],” Lopez told reporters on Monday.

The trade chief explained the amount for the fund failed to make the budget proposal because the law—although signed in April— was only promulgated in July, at a time agencies are already done crafting their money framework for next year.

Lopez is hoping legislators will consider the government’s request

to allow the fund to start revolving next year. Otherwise, he said the fund will only be activated by 2021, delaying the process programs and projects intended to innovate MSMEs. He argued it is important for the government to provide financing for efforts that will improve the capacity of MSMEs, as this will show commitment in the campaign to develop the sector comprising over 99 percent of all business establishments.

“Right now, frankly, there is little effort. The government is not really into this [innovation] in a big way because of zero budget.

If we say we want to support this, there should be a budget. Otherwise, you will rely on the private sector,” Lopez lamented.

“Directionally, we are aligned, but what is important is to put your money where your mouth is,” the trade chief added.

President Duterte in April signed Republic Act 11293, or the Philippine Innovation Act, that sets aside P1 billion annually for the innovation fund. Apart from the fund, the law created the NIC, chaired by the President himself, tasked “to develop the country’s innovation goals, priorities and long-term national strategy.”

Further, the law requires all banking institutions—whether

It’s time to focus on rainwater harvesting to irrigate farmlands, agriculture chief says

By Cai U. Ordinario @caiordinario

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HE Department of Agriculture (DA) is prioritizing rainwater harvesting to ensure ample water supply for farms nationwide.

In a news statement, Agriculture Secretary William Dar said the Philippines annually receives about 2,400 millimeters (mm) of rainfall, one of the world’s highest.

Dar, who used to head the India-based International Crops Research Institute for the Semi-Arid Tropics (Icrisat), said this amount of rainwater should be harvested given that provinces in the Philippines are encountering the problems with irrigation availability.

“We are giving high priority on rainwater har vesting as a measure to address water availability,” Dar said.

“We only harvest 6 percent of [our] rainfall. While India has only an average of 700 mm of rain annually but they harvest 60 percent of that. [That’s] because they don’t have water during [the] dry season. That is how important it is for them to harvest much of their rain,” Dar explained.

Dar said rainwater harvesting is a solution to water scarcity as he stressed that it is important to identify now the areas for agriculture and areas for revegetation or reforestation.

He, likewise, underscore the need for balance. While the country

@rectomercene

I

SRAEL is poised to accept 1,000 overseas Filipino workers (OFWs) in December to work in hotels and other tourism-related industries amid a continuing tourism boom in the Holy Land.

“Our population is only 9 million [and] we don’t have that many people to take care of the tourists,” Ambassador Rafael Harpaz admitted during a forum in Makati on Monday, adding that an average of 4.2 million tourists from around the world visit Tel Aviv yearly.

Harpaz added that there were two memorandum of agreements (MOA) signed by President Duterte during his visit to Israel in relation to the government-to-government hiring of Filipinos.

“The Philippine Overseas Employment Agency [POEA] would handle the hiring of Filipino workers,” Harpaz added, noting that there’s no need or requirement to speak their language, like Arabic or Hebrew, to qualify as tourist guide.

“Ever ybody speaks English in Israel and many of them also

spea k Taga log like halo-halo, balut, he added in jest, noting there are some 20,000 OFWs in the care-giver sector.

The big advantage of the MOA is that Filipinos no longer have to pay a huge amount to third-party agencies, which regularly asked $10,000 to $12,000 placement fee, Harpaz said.

He said his government has decided to open Israel for a limited amount of workers from all over the world and they would start with 2,000 workers.

“The first country we signed an agreement with was the Philippines, and I was informed that at the end of the year, 1,000 OFWs could be recruited to work in Israel and there would be no placement fees.”

He said there is no other country in the world that has worked in their tourism industry before “and the first one is from the Philippines.”

According to Israel’s highest envoy in the Philippines, “Filipinos who applied to Israel to work as caregivers have to pay a huge amount of placement fees.

Senate to BSP: Go slow on cryptocurrency advance

By Bianca Cuaresma

Today, OFWs who apply for work in the tourism sector “will be down to a government-to-government basis and it will be very limited,” he said.

“Why we want the Filipinos?” he asked. “[It is] because you offer the best service, we have experienced working with Filipinos before.”

According to Harpaz, the 1,000 Filipinos that would be hired this year will work mainly in hotels and restaurants of hotels.

“By Christmas I hope to see the first Filipino with visa to work in the tourism industry in Israel and it will be the first OFW that come to Israel following this decision,” the envoy said.

Harpaz mentioned that other nationalities invited to work in Israel’s tourism industry are Jordanians, “but they are our neighbors, and I’m happy we did it so fast with the Philippines [and] there’s lot of satisfaction because we enjoyed them before.”

“The contract [for Filipino tourism] works [will be valid for] five years, similar to a Filipino caregiver in Tel Aviv,” Harpaz said.

@BcuaresmaBM

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HE Senate has asked the Bangko Sentral ng Pilipinas (BSP) to stand back and “slow down” its involvement in cryptocurrencies in light of mounting cryptocurrency scams in the international scene.

In a Senate hearing on Monday, Sen. Francis Tolentino asked BSP Governor Benjamin Diokno to study the regulations surrounding cryptocurrencies first for better regulation. He cited laws of other jurisdictions—particularly Japan’s cryptocurrency law—for reference.

“To caution all of us, may I suggest for the BSP to slowdown a bit, pag-aralan muna ito [please study this first],” Tolentino said.

“I am saying this because you issued a clearance for UnionBank.

What will prevent the other banks from following suit? So pending the completion of the task force, [let’s] slow down a bit for now,” he added in a mix of English and Filipino.

Just this year, the BSP gave the Aboitiz-led UnionBank clearance as the first commercial bank to issue bank-backed blockchainbased token.

Diokno noted the Senate’s recommendation but did not comment on the BSP’s next plan of action.

“The point of the senator is well taken, we are really aware of the risks in these transactions,”

“To caution all of us, may I suggest for the BSP to slow down a bit, pag-aralan muna ito [please study this first].”

—Tolentino

Diokno told the legislators at the hearing.

“This is really, there is vulnerability, we have to think of consumer protection and there is also risks to financial stability. So we’ll go slow on this,” he added.

Among the most recent advances to global financial services is the rise of cryptocurrencies, particularly the so-called bitcoins.

Form a Crypto Asset Task Force THE Senate also took the suggestion to create an interagency task force including the BSP, Securities and Exchange Commission (SEC) and the Cagayan Economic Zone Authority (Ceza).

The Ceza has been working like a sandbox for the progress of blockchain and other innovative technologies.

“What we are trying to do is play catch up here. We can’t really prevent the evolution of things in the financial world,” Sen. Grace Poe, who chairs the committee on banks, financial institutions and currencies, said.

Organizations breaching the Data Privacy Protection legislation rise significantly

wants farms to succeed, the carrying capacity of ecosystems should be taken into consideration.

The agriculture chief said that according to studies, Benguet and some part of Cordillera have already gone beyond the carrying capacity of the natural ecosystems due to human activities.

“But the long-term measure is comprehensive land use at the provincial and municipal levels,” Dar said. “[While] our population continues to increase, our farming areas also increase, therefore, our ecosystem is not able to carry all these series of human activities.

Our problem here [La Trinidad, Benguet] is worse than in the Cordillera,” he added.

Israel to hire 1,000 Pinoy tourism workers by Dec. under accord between Manila and Tel Aviv–envoy

By Recto Mercene

state or private—to set aside at least 4 percent of their total loanable funds for innovation development credit.

The 4-percent credit quota is subject to a joint review by the NIC and the Bangko Sentral ng Pilipinas after three years of implementation to check whether the law has been effective in accomplishing its objective of promoting innovation. The NIC is also mandated to evaluate yearly the compliance of banks to the credit quota and submit its recommendations to the BSP. In the Global Innovation Index 2019, the Philippines improved 19 notches to 54th among 129 economies after securing better scores on institutions, business sophistication, knowledge and technology outputs and creative outputs.

The index tracking the innovation performance of countries awarded the Philippines a score of 36.18 this year, from 31.56 last year. This put the country fifth among the eight Southeast Asian economies included in the annual survey.

Singapore headed the region by finishing eighth overall, followed

by Malaysia at 35th, Vietnam at 42nd, Thailand at 43rd, the Philippines, Brunei Darussalam at 71st, Indonesia at 85th and Cambodia at 98th.

www.businessmirror.com.ph

Kevin Shepherdson, head of DPEX Centre and chief executive officer of Straits Interactive, said: “About 80 percent of all valid cases were due to the breach of the protection obligation where personal data was compromised and was leaked, mostly due to the organization’s employee error or negligence instead of malicious activity. In fact, only 15 percent of such enforcement cases were due to a cyber attack. This amounts to about four enforcement cases a month. As such, organizations are advised to beef up their governance and data protection practices to proactively address common breach scenarios and demonstrate accountability, or they risk enforcement action.”

T

By Henry J. Schumacher

HIS issue was raised by National Privacy Commission (NPC) Chairman Raymund Liboro very recently. He added, one of the biggest concerns in the Philippines is business data negligence where data breaches due to carelessness happen. “Being hacked is not a crime, but being negligent is.”

To demonstrate what is happening here and elsewhere, I would like to focus on recent developments in Singapore where an increased number of enforcement actions were initiated due mostly to common mistakes in failing to protect personal data.

The Data Protection Excellence (DPEX) Centre, the autonomous research and education arm of Straits Interactive (of which the European Innovation, Technology, and Science Center Foundation is a member), announced that the number of organizations breaching Singapore’s Personal Data Protection Act (PDPA) has reached record levels and have already surpassed the total number of enforcement cases in 2018.

As of the end of August 2019, there were 26 organizations who were either fined, or warned in enforcement cases, as compared to 23 organizations recorded in the full year of 2018. This represents a 13-percent increase in enforcement action by the Personal Data Protection Commission (PDPC). A total of S$1.28 million (P48.4 million) in fines have been issued to date this year, the majority of which came from fines imposed because of the SingHealth-IHIS data breach. The accumulated fines this year dwarfs the total amount recorded from 2016 to 2018, which amounted to only $339,000.

Summary of findings (2016 to present) Top 10 common causes of PDPA breaches 1. Untrained staff 2. No data protection policies 3. Inadequate security controls 4. Lack of appropriate SOPs 5. Weak passwords 6. Poor system/software design 7. Sending to wrong recipients 8. Failure to verify the accuracy of processed data 9. System security not audited regularly 10.Error in processing/printing Top 5 Industry Sectors 1. Financial (14 percent) 2. Retail (14 percent) 3. Volunteer Welfare Organizations (10 percent) 4. Professional Service (9 percent) 5. Food and Beverage (9 percent) Top Breaches of PDPA Obligations 1. Protection-section 24 (80 percent) 2. Policies-section 12a (17 percent) 3. Consent-section 13 (16 percent) 4. DPO compliance-section 11 (9 percent) 5. Purpose Limitation-section 18 (8 percent) The increased enforcement action will likely prompt more organizations to go for the Data Protection Trustmark (DPTM) Certification, as having accountable practices is one of the conditions under PDPC’s Active Enforcement Framework where organizations may request for an undertaking in the event of a common breach of a PDPA obligation.

In addition, they are expected to have an effective remediation plan.

In this context, it is good to note that the NPC plans to launch the Philippine Privacy Trust Mark before the end of the year.

Looking at the development in Singapore and the plans of NPC’s Liboro, it is pretty clear that you and your company will not get away with negligence in data privacy protection in the future! You better act now. If assistance is needed, let us know. You can contact me at schumacher@eitsc.com.

Editor: Angel R. Calso

The World BusinessMirror

Tuesday, September 24, 2019

A5

Hedge funds shrug off Saudi attack as oil demand concerns linger

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he devastating attack on Saudi Arabian oil facilities fueled a record rise in crude futures, but hedge funds didn’t take the bait.

Money managers cut bullish bets on Brent oil by 3 percent, the first decline in three weeks, according to data released on Friday.

Following the attack that briefly halted 5 percent of the world’s oil production, the global benchmark surged by the most ever. But supply concerns eased quickly as state-owned oil company Saudi Aramco reassured the market that it would still meet its commitments. Brent ended the week 6.7 percent higher, even as demand concerns reemerged.

“People want to put their money in the bank now,

China boosts govt presence at Alibaba, private giants

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he government of one of China’s top technology hubs is dispatching officials to 100 local corporations including e-commerce giant Alibaba Group Holding Ltd., the latest effort to exert greater influence over the country’s massive private sector.

Hangzhou, in the eastern province of Zhejiang, is assigning government affairs representatives to facilitate communication and expedite projects, the city government said on its web site. Chinese beverage giant Hangzhou Wahaha Group Co. and automaker Zhejiang Geely Holding Group Co. are among the other companies based in the prosperous region that have been singled out, according to reports in state media.

The Hangzhou government said the initiative was aimed at smoothing work flow between officials and China’s high-tech companies and manufacturers. But the move could be perceived also as an effort to keep tabs on a non state-owned sector that’s gaining clout as a prime driver of the world’s No. 2 economy. Representatives of the country’s public security system are already embedded within China’s largest Internet companies, responsible for crime prevention and stamping out false rumors.

Government agencies may also be heightening their monitoring of the vast private sector at a time China’s economy is decelerating—raising the prospect of destabilizing job cuts as enterprises try to protect bottom lines.

Alibaba is hosting its annual investors’ conference this week in Hangzhou against the backdrop of a worsening outlook for the country.

“They might be checking whether the Communist party units are working effectively within the companies,” said Paul Gillis, a professor at Peking University’s Guanghua School of Management. “While China legitimized capitalism, the level of government influence was never intended to disappear. Occasionally, private entrepreneurs forget about this and are reminded of it.”

Zhejiang is considered the cradle of modern Chinese private enterprise, home to a generation of self-made billionaires from Alibaba’s Jack Ma and Geely founder Li Shufu to Wahaha’s Zong Qinghou. The Communist Party accepted so-called red capitalists or private entrepreneurs into the party in 2001, allowing them to become part of the country’s legislature a year later.

Still, the relationship between Beijing and well-known business people remains sensitive. The government has been seen to try and step up an official presence within non-state firms, by among other things mandating that private companies of scale set up and maintain a party branch. It wasn’t clear whether the 100 Zhejiang-based companies included foreign enterprises.

“We understand this initiative from the Hangzhou city government aims to foster a better business environment in support of Hangzhou-based enterprises. The government representative will function as a bridge to the private sector, and will not interfere with the company’s operations,” Alibaba said in a text statement. Representatives for Wahaha and Geely didn’t immediately respond to requests for comment.

The Hangzhou initiative also underscores how the government is trying to arrest a slowdown in the economy brought on by the trade war, said Brock Silvers, managing director of Kaiyuan Capital. He expects similar policies to soon follow for other manufacturing-intensive areas.

“The economic slowdown and trade war are having a significant impact on China’s manufacturing base, and officials probably don’t see a quick resolution on the horizon,” Silvers said. “As the government expects manufacturers to experience near-term difficulties, it wants to exert a firm control over local policy decisions and implementation.” Bloomberg News

Global postal union meets amid Trump’s threat to pull US out

G

ENEVA—The effects of President Donald J. Trump’s standoff with China could soon be coming to a post office near you, and higher shipping rates for some types of mail are the likely outcome.

The administration is threatening to pull the United States out of the 145-year-old Universal Postal Union, complaining that some postal carriers like China’s aren’t paying enough to have foreign shipments delivered to US recipients. A showdown looms at a special UPU congress from Tuesday to Thursday in Geneva.

The complaint centers on the reimbursement that the US Postal Service receives for providing final deliveries of bulky letters and small parcels sent from abroad—usually ones not weighing more than 2 kilograms (about 4 and a half pounds). Such mail can include high-value items like mobile phones, memory sticks or pharmaceuticals. AP

they don’t want to see it all blown away,” said Kyle Cooper, director of research at IAF Advisors. The attacks don’t change the demand growth picture, he said.

Net-length in Brent—the difference between wagers on an increase and those on a decline— fell 3.1 percent to 284,653 options and futures in the week ended

September 17, the US Commodity Futures Trading Commission said.

Long-only bets dropped 2.5 percent, while shorts rose 0.2 percent.

Investors were more bullish on US oil, with net-long bets up 6 percent. New pipelines coming online in Texas’s Permian basin have been supportive of the US benchmark, as more crude is seen

becoming available for export.

Still, demand worries are taking center stage as Saudi Arabia restores its lost production and the USChina trade war persists. A Chinese trade delegation on Friday canceled a planned visit to American farms after President Donald Trump said he wasn’t interested in “a partial deal” with China based on Beijing

increasing its purchases of US agricultural products.

“Given demand worries, WTI prices ranging between $58 and $60 a barrel seems appropriate for now, said Bart Melek, head of global commodities strategies at TD Securities in Toronto. “Downward pressure will now be from demand.”

Bloomberg News

A6 Tuesday, September 24, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Energy-secure PHL

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he drone attacks claimed by Yemen’s Houthi rebels on the world’s largest oil processing facility in Saudi Arabia and a major oil field on September 14 caused State energy producer Saudi Aramco to lose about 5.7 million barrels per day of output (See, “Oil prices post biggest jump after attack on Saudi facility,” in the BusinessMirror, September 17, 2019). The disruption caused by the drone attacks was immediately felt by the international market. When trading opened on September 16, Brent jumped more than 19 percent to $71.95 a barrel on ICE Futures Europe, its biggest gain in percentage terms since 1991.

The incident highlighted not only the vulnerability of Saudi Arabia, the world’s most important oil exporter, but also of countries that depend largely on imported oil, such as the Philippines. The country is a net importer of oil and price volatility caused by the drone attacks will have a huge impact on the economy (See, “High oil prices to ‘hurt’ slide in inflation–Neda,” in the BusinessMirror, September 19, 2019). Days after the attack, local oil firms raised pump prices and this could lead to higher fares and more expensive basic commodities (See, “Oil firms set biggest ’19 price hike; inquiry poised,” in the BusinessMirror, September 23, 2019).

Under the Philippine Energy Plan 2017-2040 prepared by the Department of Energy (DOE), the country’s total final energy consumption is expected to rise by an average of 4.3 percent annually. From 33.1 million tons of oil equivalent in 2016, the TFEC of the Philippines is expected to go up to 91 MTOE in 2040. The top energy consumers in 2016 were the transport sector, industries, and residential sectors.

In 2016, the DOE noted that the transport sector accounted for more than one third or 37.2 percent of total energy consumption. The transport sector’s total energy demand levels rose by nearly 10 percent due to the increase in the use of gasoline and diesel for road transport. Because of the robust demand for gasoline and diesel, petroleum products were the top primary energy sources in 2016.

The DOE’s projection that the transportation sector will remain as the biggest energy user in the next 25 years is hardly surprising, as the improvement in purchasing power would encourage more Filipinos to buy cars. The need to move goods to other islands, which will require boats, will also contribute to the increasing demand for petroleum products. And this would all happen against the backdrop of shrinking oil reserves and rising global prices.

Insulating the Philippines from the adverse impact of high global oil prices caused by geopolitical tensions requires a significant reduction in the consumption of petroleum products. Sans effective public transportation systems, however, this will be difficult to do. The lack of public transportation systems is also compounding the traffic situation in urban areas, which makes it more challenging for the government to cut oil consumption.

We call on the government to fast-track public transportation projects so that Filipinos, particularly in urban areas, will no longer have to drive their own cars. To reduce the country’s reliance on imported coal, the government must also make it less expensive for companies to invest in renewable-energy sources. And while consumers await these reforms, we urge the government to strictly implement a DOE directive that orders oil firms to unbundle their fuel cost to ensure reasonable and fair pricing of petroleum products.

Since 2005

BusinessMirror A broader look at today’s business

The age of the Drama Queen and King John Mangun

OUTSIDE THE BOX

H

uman recorded history goes back around 5,000 years, using the definition of a complete written language and a variety—including literature and business—of other record keeping. But it has been only in the last 120 years that human knowledge has exploded and applied to practical technology that touches every life on Earth.

Globally, for example, adult human life span was reasonably constant for a thousand years. Then in the 20th century that number also surged. While much of the technology that we use today is based on previous technology—smartphones from the radio—even the “previous technology” was developed in the 20th century or late 19th century.

The first commercial ice plant opened in 1868. A commercial process for frozen food came in 1924, which revolutionized the world’s food supply.

Our grandparents and greatgrandparents lived from the horse

and buggy days to seeing a man walk on the moon. But this was and is also the time of massive wars fought globally, incredibly destructive weapons, and huge standardof-living inequality. It is almost as if there is some cosmic balance that demands a whole lot of good must be offset with a whole lot of bad.

However, there is no question that humans in general are much less ignorant today than they were 100 years ago. It is not only that the pool of knowledge has expanded but now everyone can choose to take a swim in that pool.

Yet, there are many “educated”

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This is the age of the “Drama Queen and King.” Genuine problems cannot be solved when everything is a “we’re all gonna die” scenario.

Like a college student said at the “Global Youth Climate Strike,” “I’m OK with missing class because... what’s the use of getting a diploma when there’s not going to be a world to use it on?”

I personally could not care less if this 20-year-old film student ever goes back to class. But I hope the microbiology student who might someday work on a cure for cancer takes a longer view than a decade.

Likewise, a physics major might someday find an effective commercial thorium-based reactor to actually replace our dependence on fossil fuels.

So far, though, all the hot air from the Drama Queens and Kings has not done much to improve life. Then again, blaming “climate change” to miss class sounds much nobler than my normal college excuse: “I’m too hungover.”

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

6% GDP growth not bad versus rest of Asia

✝ Ambassador Antonio L. Cabangon Chua Publisher

people that believe that chocolate flavored milk can only come from brown cows and the Earth is the only planet in the solar system that is flat and not round.

Further, why is there this incredible amount of doomsday scenarios?

Forget about the settled science of climate change that had United Nations experts saying in 1989, “Rising seas to ‘obliterate’ nations by 2000.”

Ignore Al Gore’s 2008 statement of “Ice-free Arctic by 2013.”

“Within the next two to five years the oil fields of this country will reach their maximum production”—October 23, 1919, Oil and Gas News.

The prediction of “peak oil” has never ended: “Capt. H. A. Stuart, director of the naval petroleum reserves, told the Senate today the oil supply of this country will last only about 15 years”—March 9, 1937, Brooklyn Daily Eagle. “At any rate, US oil supplies will last only 20 years”—May 1972, Bulletin of the Atomic Scientists.

Do not tell me that what these peak oil predictions meant to say was “land-based using conventional drilling techniques” any more than Al Gore meant “Sort of ice-free in some places or other now and then after 2013.”

T

he Philippine economy may not have a stellar performance this year, given the unimpressive figures in the first two quarters of 2019. But I believe this is not a disappointing turn of events compared with where the rest of Asia’s economy is headed.

The other economies in Asia are not performing that spectacular either. The prolonged trade war between the United States and China, the uncertainty of Brexit, unpredictable oil prices in the world market, and the continued geopolitical tensions in the Middle East have posed a challenge to the economies of Asia and the Philippines.

I have to admire Finance Secretary Carlos G. Dominguez III for keeping a positive tone on his assessment of the Philippine economy. The government, according to Dominguez, is maintaining a fighting growth target of at least 6 percent this year to realize President Duterte’s goal of lowering the poverty incidence to 14 percent by 2022, and creating more job

opportunities for Filipinos.

A 6-percent growth in the gross domestic product this year, or slightly below it, is respectable. When viewed against the rest of Asia, the government’s fighting growth target is not bad at all. Most of our Asean neighbors were, in fact, expanding below 4 percent. Only Vietnam grew at a faster rate than we did in the previous quarter.

Moody’s Investors Service has a more conservative estimate. It sees the Philippines expanding by “just” 5.8 percent in 2019, given the less vigorous growth in the first and second quarters. But the rating agency considers the Philippine growth rate still one of the fastest in Southeast Asia.

So, how will the Philippines fare against its neighbors in Southeast

Asia? Moody’s expects the Philippine economy to grow faster than the 0.5 percent of Singapore, 4.4 percent of Malaysia, 2.7 percent of Thailand and 4.9 percent of Indonesia. Vietnam is seen growing the fastest in Southeast Asia at 6.7 percent.

The global debt watcher said the Philippine economy would grow faster at 6.2 percent in 2020, outpacing the 4.3 percent of Malaysia, 3.1 percent of Thailand, 1.2 percent of Singapore and 4.7 percent of Indonesia.

The Philippines will also grow faster than China’s 5.8 percent next year.

Dominguez, meanwhile, remains upbeat on the economy despite the blip in the first two quarters. A spending catch-up plan drawn up for the year and the timely passage of the 2020 national budget, he said, would help the government achieve the 2019 GDP growth target of 6 percent.The economy grew 5.5 percent in the first semester, below the target range of 6 percent to 7 percent for the whole year.

He is confident there won’t be a repeat of the delay in the approval of the 2019 General Appropriations Act, citing a much better working relationship this time between the Executive and Legislative departments. The leaders of both the Senate and the House of Representatives are now meeting every month to monitor the progress on the budget

and the 25 priority bills enumerated

by President Duterte in his fourth State of the Nation Address, which include the four remaining taxreform packages.

Dominguez said the swift congressional approval of the remaining packages of the Comprehensive Tax Reform Program and other economic reform bills to further open up the domestic economy would be crucial for the Duterte administration to achieve its target of achieving high and inclusive growth and transforming the country into an upper middleincome economy ahead of schedule.

Keeping both Congress and the Executive department in sync with each other will ensure the attainment of these goals.

Further reforms to open up the economy and attract more foreign investors will boost the bid of the Philippines to secure an “A” credit rating within the term of President Duterte.

I cannot agree more with Dominguez. The passage of the remaining tax-reform packages and other economic reforms, he says, “will help us secure the A-minus credit rating within the next two years and achieve our 14-percent poverty target by 2022.”

For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

Opinion BusinessMirror

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Citira and the Asean tax war

‘Revenge of the pork’ Manny F. Dooc

TELLTALES

Benedicta Du-Baladad

Tax Law for Business

I

N early 2016, I wrote of a looming tax war in the Asean Region owing to the integration of the economies of the 10 Asean members under the Asean Economic Community. The AEC officially kicked off in January 2016 and, at that time, there were already noticeable signs of a “race to the bottom” in lowering corporate income taxes (CIT).

The first movers were Malaysia and Vietnam, which immediately reduced CIT on the same day the AEC kicked off. Malaysia reduced its CIT from 25 percent to 24 percent, and Vietnam from 22 percent to 20 percent, making it on a par with Thailand’s CIT of 20 percent. Likewise, all these countries (Malaysia, Vietnam and Thailand) also lowered the rate of CIT for small-and-medium sized enterprises (SMEs)—from 20 percent to 17 percent in Malaysia, from 20 percent to 0,10 percent,15 percent in Thailand depending on profitability, and in Vietnam, the lowered CIT rate of 20 percent was applied retroactively two years back to 2014, and a proposal to reduce further to 15 percent.

This is not surprising. This is a normal consequence as membercountries compete in getting a bigger share in that pie called foreign direct investment (FDI) inflows, both from outside the region and intra-region.

Similar tax wars had been experienced in the European Union and in less integrated regions such as Africa during the early years of integration.

The tax war is manifested in two ways—a reduction in corporate and personal income taxes, and an offer of attractive fiscal incentives, such as tax holidays, reduced tax rate, accelerated allowances, additional deductions, duty free importations, and etc.

Indonesia, although considered a late mover, is planning to do both— lower the CIT and make incentives more attractive—a more aggressive move. Its plan to reduce CIT from 25 percent to 17.5 percent, making it one of the lowest in the region, has not materialized until now. But, beginning 2018, it expanded the coverage of pioneer industries to cover 18 sectors and offered extended duration of ITH of up to 20 years depending on the amount of investments. This, despite oppositions by think tanks, such as Prakarsa, on its impact to revenue, and the possibility of igniting an already budding harmful tax competition in the region.

A Prakarsa study in 2015 reported that tax holidays do not necessarily attract investment. In the 1970s when tax holiday policy was enacted in Indonesia, there was no significant investment. Instead, when the ITH was revoked in 1984 and there was no special tax incentives policy, FDI increased rapidly.

The same Prakarsa report cites a research from Banga (2003) in 17 Asian countries, including Indonesia, which concluded that tax incentives had no significant impact on the increase of FDI inflows. Another research (Dewi, 2012) also concluded that tax holidays do not significantly influence investment decision. The theory presented in these reports points to the fact that even without tax holiday, Indonesia already has many potential resources to attract investors and these investors will come, with or without incentives.

The Philippines, another laggard, had been taking a more prudent approach, a deliberate move to preserve its revenue and put in place sound fiscal policies that are long term.

Like Singapore, it chose not to join the rat race.

It is working on Citira since 2017.

Citira proposes to cut CIT rate from 30 percent to 20 percent in a span of 10 years, placing it within the Asean average. But unlike Indonesia, it plans to tighten tax incentives to

make it time bound, performancebased, targeted and transparent.

Its argument is the same as that of Prakarsa. Despite the very attractive and never-ending incentives and tax holidays, the Philippines has not actually performed well in attracting foreign investments. In fact, it has been a consistent tailender in attracting foreign investments.

Based on the 2018 Asean Investment Report, FDI flows to the Philippines from 2010 to 2017 only amounted to $39.5 billion, or only 4.17 percent of the total FDI flows in Asean. Indonesia, on the other hand, got a total of $135.9 billion or 14.36 percent of the total FDI in the region. This supports the theory that incentives do not play a big role in investment decisions.

An United Nations Conference on Trade and Development (Unctad) study on the impact of tax incentives to FDI (2000), reported that the role of incentives in promoting FDI has been the subject of many studies, but their relative advantages and disadvantages have never been clearly established. There have been spectacular successes, as well as failures in their role as facilitators of FDI. The Philippines could be one of those failures.

As a factor in attracting FDI, incentives are only secondary to more fundamental determinants, such as internal market size, access to raw materials, availability of skilled labor, consistency of government policies, infrastructure, and etc., which are on the first line of considerations for screening on where to invest. Tax rates and fiscal incentives only come second, which are considered only after passing the first screening, says the Unctad report.

Considering these studies, the fear that investors would fly out or stay away from the country if Citira is passed may be unfounded, if the more important fundamental determinants are addressed.

What is more worrisome is our inability to decide quickly and firmly on the passage of Citira. That is the real concern. Investors who may have put on hold new investments or expansion projects meant for the country may not wait any longer and may shift their sights to other Asean neighbors. Businessmen want certainty more than incentives, and that certainty can only be made certain once the Citira is passed into law.

Talking about certainty, I noticed that House Bill 4157 introduced another uncertainty by making the programmed 1 percent yearly CIT reduction subject to a condition.

The new provision now says that the President can suspend the scheduled reduction if the projected deficit target as a percentage of GDP exceeds the programmed deficit, or on the reverse, could advance the scheduled reduction if otherwise. That makes the CIT reduction conditional.

This is a real uncertainty, and a serious concern!

The author is the founding partner, chairman and CEO of Du-Baladad and Associates Law Offices (BDB Law), a member-firm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at dick.du-baladad@bdblaw.com.ph or call 403-2001 local 300.

W

E are currently experiencing what I call the “revenge of the pork”, what with the untold sufferings of our countrymen from the effects of the African swine fever (ASF), which is now gripping Metro Manila and adjacent provinces of Rizal and Bulacan. Filipinos love pork as it is an indispensable dish in our cuisine, the same way that our insatiable legislators are craving for pork barrel. I’m glad that the current House leadership has given us assurance that there is no pork barrel insertion in the 2020 budget being deliberated upon by our lawmakers.

Hog raisers, tocino and longganisa makers, barbecue vendors, bigtime meat processors and, most especially, Filipino consumers who love feasting on pork are all complaining because their businesses are hurting and their diet is affected. Producers of meat products are now complaining about the difficulty of getting safe meat to process. It costs them more to source their supply from safe countries whose hog industry is not affected by the disease. I was in S&R, which imports its meat from safe countries and there was a long queue of pork lovers trying to buy their favorite cut.

Quarantine checkpoints set up by the LGUs and the police to prevent the spread of ASF, and the intensive checking undertaken by the National

Meat Inspection Service and the Department of Agriculture to protect the public necessarily strain government’s limited resources. Somebody should do the math to determine ASF’s economic impact.

Does the ASF scare mean there would be no lechon for our noche buena and media noche this holiday season? What a bleak Christmas that would be! nnn

MY eyes were glued on the TV last week during the live coverage of the Senate Blue Ribbon Committee’s inquiry into the irregularities at the Bureau of Corrections, particularly when former CIDG Chief General Benjamin Magalong was testifying.

He declared, “In our investigation, it appears that all roads practically lead

Tuesday, September 24, 2019 A7

to Bilibid. And we found out that despite being detained in Bilibid, these Chinese drug convicts continue to remotely manage the drug trade in the entire country.”

He also said that rogue cops recycled seized drugs, an illegal act known as “agaw bato” and peddled them in the streets. These cops also transacted with the drug lords inside the Bilibid prison for the distribution of the illegally seized drugs. When asked if he could name the police misfits involved in agaw bato, he answered in the affirmative, provided it is made in an executive session.

General Magalong may not enjoy the same name recall as putschists and military/police officers Sen. Antonio Trillanes, Sen. Gringo Honasan or even Colonel Ariel Querubin, but he’s definitely one of the most idealistic men in uniform. After President Joseph “Erap” Estrada was ousted from Malacañang, General Magalong was accused of plotting to assassinate President Gloria Macapagal-Arroyo, which he denied. While under investigation, he was given perilous assignments in Cordillera and Mindanao until he was absolved from the charges.

He also lead the assault of Camp Bagong Diwa with his SAF troopers when inmates in the camp seized weapons from the guards. As a result, 27 inmates died while the survivors and human-rights advocates claimed massacre. He later on figured in the alleged coup d’etat against President Arroyo in 2006. He admitted his

participation in the foiled destabilization attempt and he was imprisoned for three months. Up to now, he keeps his Kevlar helmet with two embedded bullets on it.

He graduated at the top of his Sandigan Class 1982 in PMA, which included former PNP Chief and now Sen. Bato de la Rosa. He once headed the Special Operations Batallion which is the counter terrorism group of the PNP. He was a recipient of 166 military and police achievement awards, which include the Distinguished Conduct Star, Distinguished Service Star, the PNP Gold Cross and many other decorations recognizing his valor in combat and enforcement operations.

Indisputably, he has a colorful career as a police officer, which could have been capped by getting the top plum as PNP chief. Again, another controversial assignment derailed his possible promotion. As the head of the Board of Inquiry (BOI) that investigated the Mamasapano Incident, the BOI said President Noynoy Aquino, Generals Alan Purisima and Getulio Napeñas were liable for the deaths of the 44 SAF soldiers. Some quarters believed that this cost him the chief PNP position. His integrity and courage were beyond question and he had risked his career in the pursuit of truth. After his Senate testimony, comes the question: What would have happened had he led the Bilibid raid in December 2014 instead of being bypassed, contrary to the original plan?

The world’s oil security blanket has been torched

By Julian Lee | Bloomberg Opinion

T

he real impact of the attack on Saudi oil installations last weekend goes well beyond the temporary loss of 5 percent of global oil production: It strikes at the heart of the mechanism that’s guaranteed the security of the world’s crude supply for most of the past 50 years.

Ever since the western oil majors lost control of output in the Middle East, Saudi Arabia’s willingness to maintain idle production capacity has been the world’s safety valve to offset its dependence on the volatile region. When there was conflict and blockages elsewhere, Riyadh could always turn on the taps and serve the international market. But its new vulnerability requires a complete rethink of how we view and perhaps pay for the future security of supplies.

Some 25 pilotless aircraft and cruise missiles of Iranian origin were used to strike the two sites, the Saudi Defense Ministry said at a press briefing four days after the attacks. The

extent of Iran’s involvement remains unclear. It may have taken a direct role or it may have supplied the Houthi rebels in Yemen with hardware. That second possibility is almost more troubling because it puts the power to wreak havoc into the hands of anybody able to fly a drone.

If the attack was indeed launched from Iran, that raises very serious questions about the ability of Saudi Arabia’s expensive air defense systems (or the people using them) to defend the most important oil installation on the planet.

The failure to detect 25 incoming threats traveling 280 miles from the direction of your sworn enemy would be a major failure. Missing them from an unexpected direction would be easier to understand, although no less devastating.

The damage to infrastructure will be repaired. The Khurais field resumed 30 percent of its output within 24 hours, pumping about 360,000 barrels a day, and the Abqaiq plant was processing 2 million barrels a day by Tuesday, down from 4.5 million before the strikes. The kingdom’s

production capacity will be restored to 11 million barrels a day by the end of the month and in full by the end of November, according to the new energy minister Abdulaziz bin Salman. Some independent analysts see it taking longer. Energy consultants FGE said the Saudi plans were optimistic, while Rystad Energy said repairs at Abqaiq may only be completed “as we approach the end of the year.”

The disruption will be offset initially by increased production from Saudi fields that don’t rely on Abqaiq or Khurais for processing, by drawing on the kingdom’s own reserves at home and overseas, and through increased production from other countries. Emergency stockpiles in oil-consuming countries may be tapped if necessary, although the International Energy Agency doesn’t believe they will be needed.

But Saudi Arabia’s 12 million barrels a day of maximum sustainable capacity has just lost its effectiveness as the world’s hydrocarbon security blanket.

Strategic stockpiles held by oil-consuming countries have only ever been

a sticking plaster, designed to get us through a short supply interruption while Saudi Arabia boosts output. But last week’s attack has, at a stroke, taken out much of that spare capacity along with current supplies.

What the world needs now is an outbreak of peace, or at least “live and let live,” in the Middle East. Unfortunately that seems as unlikely as ever.

Demonizing Iran or any other country won’t reduce tensions even if it’s a natural reaction to the strikes.

In the absence of political calm, clearly there needs to be an extensive upgrade to the protection of key assets—although that might not thwart a repeat attack.

Holding all of the world’s spare production capacity in one place has always been a risk. A broader system of allocating and paying for an output buffer across different geographies may be desirable, even for the US, which remains a net importer of oil. With international institutions losing their luster, however, I don’t hold out much hope.

The medical community has been complicit in opioids and vaping

By Faye Flam Bloomberg Opinion

W

hen the medical community makes mistakes, it’s like shooting down a few hundred airplanes every year. That’s a dramatic metaphor that has stuck in my mind since I first heard it from a doctor, and an apt way to describe a pathological marketing system that allows companies to push dangerously addictive drugs to the public, and to doctors. It could describe both the mistakes of opioid makers and the emerging problem of nicotine addiction through vaping.

Starting in the 1990s, drug makers encouraged the term “opioids” to replace the scarier term “narcotics,” as they began aggressively marketing a new set of painkillers. Opioids were once reserved for people with terminal conditions, such as cancer, but an influential 1986 paper started a trend toward opioid use as a “humane” way to treat other painful conditions. By 2014, doctors in the United States wrote a staggering total of 245 million prescriptions for opioids.

Meanwhile, while teen smoking rates have plummeted, vaping among teens is soaring—20.9 percent of high-school students surveyed in 2018 admitted to vaping, up from 11 percent in 2017.

The medical community’s error in both cases comes down to a failure to respect addiction as a disease. Doctors should have been trained to recognize and understand addiction, and they, as

well as insurance companies, regulators and others have failed to balance the risks of addiction with the benefits of alleviating pain or helping a patient quit smoking.

The problems with opioids are now obvious, but we are only beginning to learn about the risks of vaping. As with opioids, some in the medical community initially hailed the devices used for vaping—electronic cigarettes—as beneficial, since they are likely to drastically cut the risk of lung cancer in people with incurable nicotine addiction. These addicts could satisfy their drug cravings without the cancer-causing tar they would get from cigarettes.

The downside is that for non-addicts, starting an electronic cigarette habit is likely to cause addiction, and that, in turn, puts users at risk of other problems. First, there are unknown longterm risks. Nobody knows what might happen to people after vaping for 20 or 30 years. And now there’s a rare but immediate threat: Over 500 people have been treated for an acute lung disease, from which at least seven have died so far. This is a small number compared to the 480,000 annual deaths associated with smoking, but some young people are now switching from vaping to smoking, reasoning that the risk of lung cancer decades into the future is preferable to even a tiny risk of dying of a weird new disease before their next birthday.

How can the medical community respond? One solution is to develop,

standardize, and test electronic cigarettes as a prescription medical device, and advise a ban on the marketing that promotes them as a multi-flavored form of recreation. Methadone has uses for helping heroin addicts, for example, but we’d be horrified if companies started to market it as something fun and cool— particularly if they aimed their marketing at kids.

In the UK, the medical community has acknowledged that e-cigarettes could benefit addicts, and various sorts of clinical trials are under way to document harmreducing potential. To do that here in the US we need a standardized device, Nora Volkow, an expert on the neuroscience of addiction and the head of the National Institute on Drug Abuse, explained in an interview. It’s impossible to test the great variety of devices out there now, some of which can deliver extreme nicotine doses equivalent to an entire pack of cigarettes.

The flavors and potential to smoke cannabis add to the complications—and there’s some evidence that this new acute lung diseases is tied to cannabis, even if not all patients admit that’s what they were vaping.

Smoking and vaping may not be known for giving people the intense high associated with cocaine or opioids, yet the power to addict is anything but mild, Volkow said. She has looked at the way this drug affects the brains of laboratory animals, and explained that nicotine gets into and out of the brain rapidly, altering circuits involved in rewards and, in

essence, training the brain to get repeat hits. The drug alters reward circuits that affect the way the brain responds to other forms of pleasure.

Both nicotine and opioids cause two separate neurological effects: dependence and addiction. Dependence is a disruption of people’s body chemistry, leading to withdrawal symptoms if they stop.

Opioid patients can develop extreme nausea and vomiting from withdrawal, while nicotine users tend to get irritable and fatigued. When people are addicted, however, the brain undergoes long-term changes and they can crave a drug even years after quitting. That’s good reason to stay away from nicotine, but also good reason for the medical industry to help those who are already afflicted.

With opioids, the benefits were clear, while the risks were underplayed. Today, companies like Purdue Pharma and Johnson & Johnson have been asked to pay heavily for their role in that crisis.

With vaping, while reports on the sudden deaths have led to categorical calls for a ban, Volkow sees a different road forward. “If you analyze what’s responsible for the deaths and study how you can potentially use the devices in a way that’s beneficial [to nicotine addicts]… then my perspective is we should look into it.”

In both cases, some of the casualties might be alive today had doctors better understood addiction as a disease—one that medicine can help treat, but, in some cases, has helped spread.

A8 Tuesday, September 24, 2019

www.businessmirror.com.ph

DTI reviews canned meat makers’ 5% price hike bid

C

By Elijah Felice E. Rosales

@alyasjah

ANNED meat manufacturers are asking the Department of Trade and Industry (DTI) to approve their petition for a price increase of by much as 5 percent on higher cost of raw materials.

In an interview with reporters on Monday, Trade Secretary Ramon M. Lopez disclosed the DTI is reviewing the appeal filed by canned meat manufacturers to raise prices of their

products by as much as 5 percent.

Apart from producers of canned meat, sardines makers are asking for a price hike, too, on reported increase in the cost of tamban.

250 Number of products now covered under the government’s suggested retail price list. The DTI wants to return the SRP list to its regular rundown of around 140 goods to make it easier for the agency to monitor their retail prices

“There are requests [for a price increase] in canned meat, in sardines, because of their cost of production.

There are also some in noodles,

but some brands [only and] not all brands. These petitions are being reviewed by our group,” Lopez said.

Lopez admitted he is inclined to approve the petitions as long as the manufacturers can show the uptick in their production cost.

Either way, he said he will only authorize minimal increases ranging between 2 percent and 5 percent to a maximum of 10 percent.

“The price of fish really increased so we will see by how much [we will hike prices of sardines]. These are very minimal increases. This is just the usual 2-percent to 5-percent increase, [and] we won’t approve more than 10 percent,” the trade chief explained.

See “Meat,” A2

House wants to approve coco-levy bill this year

By Jovee Marie N. dela Cruz

T

@joveemarie

HE House of Representatives is targeting to approve within the year the Duterte administration’s priority measure creating the Coconut Farmers and Industry Trust Fund (CITF), a lawmaker said on Monday.

The House Committee on Agriculture and Food created a technical working group (TWG) to consolidate the Palace’s and lawmakers’ versions of the bill and fast-track its approval.

AAMBIS-OWA Rep. Sharon Garin, head of the TWG and chairman of the House Committee on Economic Affairs, has vowed to hear and

consolidate anew all the positions of government agencies and stakeholders before approving the bill.

“We will do TWG meetings during the [congressional] break in October. We have to wait for the positions of different agencies. We also want to [see] the final version of the Executive branch so we can compare with our version,” Garin

said. “Hopefully, the PLLO [Presidential Legislative Liaison Office] can formulate its version for consideration.”

“I am hoping that we can deliberate and approve this within the year at the House of Representatives.

Speaker Alan Peter Cayetano has a version of the bill, which I heard is the version of the administration.

We will tackle everything and assess what to do and what not do to avoid the veto,” she added.

P76.3-B cash

NORTHEASTERLY SURFACE WINDFLOW PREVAILING OVER EXTREME NORTHERN LUZON as of 4:00 pm - September 23, 2019

During the first hearing of the House Committee on Agriculture and Food on the coco levy trust fund proposal, Bureau of the Treasury Director Eduardo Marino said the cash component of coco-levy assets stands at P76.3 billion as of July 31.

See “Coco-levy,” A2

PHL, Russia to sign new labor pact

T

HE Department of Labor and Employment (DOLE) is eyeing to sign a new bilateral labor agreement with Russia during President Duterte’s second state visit there next month.

Labor Secretary Silvestre H. Bello III admitted they are still ironing out the details of the proposed accord, particularly if it will involve the private sector.

“There is still no consensus if it will be G-to-G [government-to-government].

They [Russian officials] want it to be Gto-G, but the POEA (Philippine Overseas Employment Administration) does not support this so it is being discussed,” Bello said in an interview.

POEA had worried that with an exclusive G-to-G arrangement, it may not be able to efficiently accommodate the large number of applicants for Russia, Bello added.

The labor chief said POEA administrator Bernard Olalia will fly to Russia ahead of Duterte’s group for “expert level consultations” with his Russian counterpart.

He said the accord is expected to be signed during Duterte’s Russia trip in early October.

Bello, who will join Duterte’s delegation, said the agreement is on the deployment and labor protection of household service workers and skilled workers.

There is no quota on the number of Filipinos who could be deployed to Russia under the proposed accord.

“As soon as the bilateral agreement is signed and the Implementing rules and regulations has been issued, they can already file their applications,” Bello said. Samuel P. Medenilla

MDB TO SET ASIDE $65B FOR CLIMATE FINANCING

M

ULTIL ATER AL Dev e lo p me nt B a n k s (MDBs), inc lud ing the Manila-based Asian Development Bank (ADB), will allocate $65 billion annually for climate- change adaptation financing by 2025.

In a joint statement, the MDBs said of the total amount, $50 billion will be allocated for low- and middle-income economies, including the Philippines.

This is 50 percent above current levels.

The MDBs also said the collective total will double adaptation finance to $18 billion annually by 2025 compared to current levels.

“This responds to the urgent need to scale up support for climate resilience in client projects and for enhanced systemic resilience,” the statement read.

Based on current trends, the MDBs expect their collective efforts to also result in a further $40 billion of climate investments mobilized annually by 2025 from private sector investors.

This will include the increased provision of technical assistance, use of guarantees and other

Loans. . .

Continued from A1

The project also aimed to help the Philippines create better jobs and increase inclusiveness; respond to emerging economic issues; and strengthen its economic institutions.

In terms of the $25.31-million PFMP-II project, Neda documents said it aimed to improve transport infrastructure to facilitate economic activity, focusing on increasing spending on and improving connectivity on transport infrastructure.

The project will assist the national and local government agencies to manage timely and transparent procurement of services in delivering infrastructure projects, and improve planning and prioritization of transport infrastructure across service delivery agencies.

Sources told this newspaper that both projects were no longer being considered for Australian financing as far back as November 2018. “[It’s] business as usual as far as Neda is concerned,” a source told the BusinessMirror. “There is ongoing discussion with bilateral ODA governments regarding ongoing development cooperation.”

DFA in discussions

Neda sources also told BusinessMirror that the Department of Foreign Affairs (DFA) has ongoing discussions with the countries involved in the UNHRC. These discussions are done, according to a source, with “expectations that issues here will turn out positive for the Philippines, as far as development cooperation is concerned.”

As of December 2018, the Neda still included theTiger and PFMP-II in its pipeline of ODA projects along with other projects to be financed by Austria, Germany and the United Kingdom. No updated pipeline of projects is available to the public as of press time.

Palace takes back denial

Malacañang on Monday backtracked on its earlier denial of the existence of the confidential memorandum from the Office of the President, but played down the economic impact of its order suspending negotiations, and the signing of loan and grant agreements with the 18 countries.

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo changed his tone on the August 27 confidential memorandum as he explained that President Duterte had a memory lapse and had “forgotten

Flagship. . .

Continued from A1

Also, the document indicated that only 11 projects approved by the Neda Board will be completed by 2022. This is fewer than the 13 projects the agency reported in April.

The document also showed that only three projects are up for Investment Coordination Committee (ICC) and Neda Board approval as

de-risking instruments.

The MDBs also said they are committing to helping their members deliver on the goals of the Paris Agreement. They will be presenting a common framework at the Conference of Parties 25 (COP25).

The framework will define the principles each MDB will incorporate to its climate change needs starting 2021.

The institutions will also develop a transparency framework to report on the impact of their activities and these are helping countries meet and exceed commitments.

Apart from the ADB, the MDBs that issued the statement included the African Development Bank Group; Asian Infrastructure Investment Bank; European Bank for Reconstruction and Development; and the European Investment Bank.

The list also includes the IDP Group which includes the Inter-American Development Bank; IsDB or the Islamic Development Bank; Shanghai-based New Development Bank; and the World Bank Group.

Cai U. Ordinario

momentarily” that he indeed ordered the Executive Secretary Salvador C. Medialdea to do it.

According to Panelo, it was only when the President was shown a copy of the confidential memorandum that he remembered calling Medialdea about it.

“I asked him about it, he said,‘I did call at the height of the Iceland resolution.’ But somehow because of work, probably, when I asked him about it, he momentarily forgot it. But he said, I maintain that memorandum. I instructed him to do that at the height of the Iceland resolution.

So I asked him, ‘do you still maintain that?’ [And Duterte replied] Yes,” Panelo said in a television interview on Monday.

The President, he said, argued that the Philippines was “insulted by the Icelandled resolution, calling for an independent investigation into the human-rights situation in the country. The Palace has since pointed out that Iceland— one of the countries condemning the alleged human-rights violations in the country —allows abortion of unborn children.

Panelo also defended the President’s suspension order, saying it will “not dramatically, even slightly, impact the country’s economy.” Echoing Finance Secretary Carlos G. Dominguez III, Panelo said the existing loans and agreements will not be affected.

Malacañang also lashed out at critics who said the move is “ill-advised,” “heartless” or based on “false pride,” arguing that the President’s consistent position is that he will not “compromise the nation’s dignity over any amount of foreign loan, or even aid or grant.”

In fact, Panelo noted, “the President has rejected in previous occasions offers of assistance with any condition that would interfere with our domestic policies. This policy remains unchanged. And it will not waver.”

Based on the memorandum signed by Medialdea, the suspension order will stay pending the assessment of the Philippines’s relations with other countries.

With a vote of 18 affirmative, 14 negative and 15 abstentions , the Iceland-proposed resolution was adopted in July by the UNHRC, which is composed of 47 countries.

The 18 countries that backed the resolution are Argentina, Austria, Australia, Bahamas, Bulgaria, Croatia, Czech Republic, Denmark, Fiji, Iceland, Italy, Peru, Mexico, Slovakia, Spain, Ukraine, the United Kingdom including Northern Ireland and Uruguay. Cai U. Ordinario of July, fewer than the five reported in April.

Of the 75 flagship projects, the Neda said 20 are under project development, while four were recently submitted to the ICC for appraisal or approval.

Around 46 projects are in varying stages of implementation. Of these projects, 12 are securing budgets or are in the financing process and 16 are either under the detailed engineering stage or procurement stage.

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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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Tuesday, September 24, 2019

B1

₧56-B MGen coal plant in Mauban still lacks requirements, can’t get COC yet, says ERC

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By Lenie Lectura

@llectura

HE Energy Regulatory Commission (ERC) on Monday said it could not yet issue a certificate of compliance (COC) to a project of the power generation arm of the Manila Electric Co. (Meralco) due to incomplete requirements.

The agency said Meralco must first comply with all the necessary documents and permits in order to secure a COC. “The Epira [Electric Power Industry Reform Act] has specified the necessary clearances that generation companies [gencos] must secure prior to the ERC’s issuance of COCs. Unless all the documentary

requirements have been fully complied with, only then we can issue the corresponding COC,” ERC Chairman Agnes VST Devanadera said.

The Epira mandates new generation companies to secure a COC from the ERC before its commercial operations, provided that generation companies have also obtained the necessary health, safety and

environmental clearances from the appropriate government agencies.

The ERC statement comes on the heels of a report by Meralco President Ray Espinosa to the Department of Energy (DOE) about a possible tight supply next month because a number of power plants are on scheduled maintenance shutdown. More important, a new power plant of Meralco PowerGen Corp. (MGen) will not be able to deliver power to the grid this month because the ERC has yet to issue the COC. The country’s first coal-fired power plant to use supercritical technology is being undertaken

by San Buenaventura Power Ltd. (SBPL), a partnership between MGen and New Growth BV, a wholly owned subsidiary of Electricity Generating Public Co. Ltd. of Thailand.

The P56.2-billion coal plant in Mauban, Quezon, was earlier track-

ing a commercial operation date last September 15.

The ERC, however, raised questions on the water rights accorded by the National Water Resources Board (NWRB), Espinosa said.

When sought for comment, MGen President Rogelio Singson said Monday the company has fully complied with all requirements. “As far as we are concerned, we have complied with any deficiencies and the issue is now between NWRB and ERC,” said the MGen official.

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.

“We welcome the entry of new

CLI, AboitizLand form JV firm to build condos in Cebu

By Roderick L. Abad

@rodrik_28

T

Aboitiz Land Inc. represented by CEO David Rafael (from left) and AEV President and CEO Erramon Aboitiz, together with Cebu Landmasters represented by President and CEO Jose Soberano III, and EVP and COO Franco Soberano recently formed a new joint-venture company Aboitiz CLI Cebu Developers Inc. CONTRIBUTED PHOTO

expanding in Luzon and Metro Manila.

“This partnership aligns with our goal to continue to strengthen our presence here with current and future developments,” he said.

For 25 years, AboitizLand has

been making innovative concepts translated to thriving industrial, commercial and residential communities.

The real-estate arm of AEV widened its reach on a national scale in 2015, when it saw the growth potential of various integrated communi-

ties across the country.

CLI, on the other hand, started in 2003, and went public in 2017.

The publicly listed company is currently the leading developer in the Visayas and Mindanao areas, where it has a total of 58 projects in various stages of development.

Eternal Plans opens new branch office in Bacolod City

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EADING preneed company Eternal Plans Inc. (EPI) celebrated the blessing and inauguration of its new branch office in Bacolod City on September 16, 2019, paving the way for the company to offer its micro life plan product called Eternal Life—“The Life plan for every Juan,” to residents of the city and nearby places.

Eternal Life is the first micro life plan product approved by the Insurance Commission to make life plan protection more affordable to Filipinos, said Rolando B. Bongalon, senior assistant vice president for sales of Eternal Plans.

Bacolod City Councilors Wilson Gamboa Jr. and Ann Marie Palermo were the guests of honor at the special event, which started with a thanksgiving mass, followed by the ribbon-cutting ceremony and blessing of the new office. Barangay Chairman Eli Alcantara Jr. was represented by Administrative Officer Monina Gulmatico. They were

Administrative Officer Monina Gulmatico, and City Councilors Ann Marie Palermo and Wilson Gamboa Jr. (second to fourth from left) lead the ribbon-cutting ceremony during the inauguration of the Bacolod City branch office of Eternal Plans. With them is Eternal Plans Senior Assistant Vice President for Sales Rolando B. Bongalon (leftmost).

welcomed by EPI officers headed by Bongalon. Aside from the inauguration ceremonies, an orientation training of new sales associates, plus other fun activities for all attendees and the mall goers, were also held during the event.

With the opening of the new Eternal Plans office, located at Doors 3 & 4, First Floor Plaza Mart City Mall, Araneta Street, Bacolod City, the Eternal Life micro life plan will also be made available to residents of nearby places in the Negros provinces and the Western Visayas region.

It also supports Eternal Plans’ move to offer more convenience and better service to its plan holders.

Furthermore, with the opening of the Bacolod office, the company expects more visibility and accessibility to a broader range of customers.

Founded in 1981 by Ambassador Antonio L. Cabangon Chua, Eternal Plans is one of only three preneed companies licensed to offer life, education and pension plans.

“At the moment, we cannot as yet determine or confirm whether the proposed rate in the Meralco PSA adverted to was indeed the least cost. But once the subject Meralco PSA application has been filed, the ERC will conduct a thorough evaluation to ensure that the proposed rate in the PSA is the least cost,” Devanadera said.

The Supreme Court affirmed its decision in July 2019, requiring all PSAs submitted to the ERC from June 30, 2015, to undergo the competitive selection process (CSP).

Meralco has so far successfully conducted two CSPs. “We will require the submission of pertinent documents from the distribution utilities that will show proof that the CSP that they have undertaken in securing their power supply from the generation companies adhered to the ‘least cost’ principle,” Devanadera said.

Tour company Thomas Cook collapses, global bookings canceled

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Contributor

OP Cebu-grown real-estate companies have combined forces for a vertical housing project meant to further expand their footprint in the Queen City of the South.

In a Monday disclosure with the local bourse, Cebu Landmasters reported that it recently forged a partnership with Aboitiz Land Inc. (AboitizLand) to form Aboitiz CLI Cebu Developers Inc. The joint-venture (JV) company is set to build a mid-market, mixeduse, multi-tower condominium development in Mandaue City. This yet to be named project will be launched next year.

According to CLI Chief Executive Officer Jose Soberano III, the two firms understand well the Cebuano market, being rooted there.

“Our partnership is a first and a milestone for both companies. We have decided to collaborate for the betterment of Cebu contributing to quality housing needs of the community,” he said.

For Aboitiz Equity Ventures Inc. (AEV) President and CEO Erramon Aboitiz, AboitizLand remains grounded where it originated even if it’s aggressively

power plants as these will augment and ensure the sustainability of power supply. However, we will not allow the stakeholders to breach the law, and the rules that we have promulgated as they were designed to ensure that the consuming public’s interest is not compromised,” Devanadera said.

Under the Revised Rules for the Issuance of COCs issued by the ERC (Resolution 16, Series of 2014), the Commission has 60 calendar days to act on applications for COCs reckoned from the date of complete submission of the required information, including the completion of the ERC’s technical inspection of the power plant.

Also, the ERC said it will ensure that the distribution utilities (DUs) that entered into a power supply agreement (PSA) with a generation company has opted for the least cost offer during the bid process.

ONDON—Longtime British tour company Thomas Cook collapsed after failing to secure rescue funding, and travel bookings for its more than 600,000 global vacationers were canceled early Monday.

The British government said the return of the firm’s 150,000 British customers now abroad would be the largest repatriation in its peacetime history. The process began Monday and officials warned that delays are inevitable.

The Civil Aviation Authority (CAA) said Thomas Cook has ceased trading, its four airlines will be grounded, and its 21,000 employees in 16 countries, including 9,000 in the United Kingdom, will lose their jobs. The company several months ago had blamed a slowdown in bookings because of Brexit uncertainty for contributing to its crushing debt burden.

The 178-year-old company had said Friday it was seeking £200 million ($250 million) to avoid going bust and was in weekend talks with shareholders and creditors to stave off failure. The prominent firm, whose airliners were a familiar sight in many parts of the world, also operated around 600 UK travel stores.

The company’s chief executive, Peter Fankhauser said, “This marks a deeply sad day for the company which pioneered package holidays and made travel possible for millions of people around the world.”

He said a deal had been “largely agreed” but that “an additional facility” requested in the last few days presented an insurmountable challenge but provided no further details.

“I would like to apologize to our millions of customers, and thousands of employees,” he said in a statement. Britain’s CAA said it had arranged an aircraft fleet for the complex British repatriation effort, which is expected to last two weeks.

“Due to the significant scale of the situation, some disruption is inevitable, but the Civil Aviation Authority will endeavor to get people home as close as possible to their planned dates,” the aviation authority said in a statement.

Describing the repatriation plan, British Transport Secretary Grant Shapps said dozens of charter planes, from as far afield as Malaysia, had been hired to fly customers home free of charge. He said hundreds of people were staffing call centers and airport operations centers.

“The task is enormous, the biggest peacetime repatriation in UK history.

So there are bound to be problems and delays,” he said.

A web site set up by the aviation authority to aid the firm’s customers crashed shortly after the company collapse was announced.

Unions representing the Thomas Cook staff had urged the British government to intervene to prop up Thomas Cook to protect jobs and the traveling public.

British Prime Minister Boris Johnson said the government was right not to bail out the company, arguing that travel firms should do more to ensure they don’t collapse.

Johnson said the government would help repatriate the 150,000 stranded British travelers. But he said bailing out the company would have established “a moral hazard” because other firms might later expect the same treatment.

“We need to look at ways in which tour operators one way or another can protect themselves from such bankruptcies in future,” Johnson said. “One is driven to reflect on whether the directors of these companies are properly incentivized to sort such matters out.”

Most of Thomas Cook’s British customers are protected by the government-run travel insurance program, which makes sure vacationers can get home if a British-based tour operator fails while they are abroad.

Thomas Cook, which began in 1841 with a one-day train excursion in England and now operates in 16 countries, has been struggling over the past few years. It only recently raised £900 million ($1.12 billion), including receiving money from leading Chinese shareholder Fosun. An estimated 1 million future travelers will find their bookings for upcoming holidays canceled. They are likely to receive refunds under the terms of the government’s travel insurance plan.

Officials plan to post details on how to receive refunds later on Monday. Travelers holding reservations with Thomas Cook were told not to go to the airport because all flights had been canceled.

An earlier repatriation plan following the 2017 collapse of Monarch Airlines cost the government about £60 million. The Thomas Cook effort is much larger and likely to be far more costly.

Continued on B2

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Companies BusinessMirror

Tuesday, September 24, 2019

PSE STOCK QUOTATIONS

September 23, 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 PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH VANTAGE

54.15 141.5 90.35 25.6 12.08 67.25 45.05 57 114 26.9 197.5 59 1.14 2.02 18.5 5.58 1.24 0.435 0.93 180.2 1.1

56.45 142 90.4 25.65 12.1 67.4 45.25 57.7 119.9 27 197.8 59.05 1.15 2.09 18.6 5.59 1.29 0.445 0.94 181 1.14

56.5 141 91.1 25.7 12.1 67.75 45.5 57.8 120 27 197 59 1.16 2.03 18.6 5.59 1.31 0.435 0.94 180.1 1.15

56.5 142.6 91.5 25.7 12.1 68.3 45.5 57.8 120 27.1 198 60.5 1.16 2.09 18.6 5.86 1.31 0.435 0.95 180.1 1.15

56.45 140 90 25.6 11.98 67.25 45 57 114 26.9 195.8 59 1.15 2.02 18.5 5.58 1.23 0.435 0.93 180 1.1

56.45 141.5 90.35 25.65 12.08 67.25 45.05 57 114 26.9 197.5 59.05 1.15 2.09 18.5 5.59 1.23 0.435 0.93 180 1.1

80 905640 1897770 122800 140000 1787770 102400 1230 280 23900 462650 44490 6000 12000 700 554400 87000 80000 14000 1290 15000

4517.5 128102338 172044444.5 3149570 1683798 120578711 4622140 70477 32138 644775 91282157 2626605 6940 24650 12970 3137921 108700 34800 13100 232210 16550

INDUSTRIAL

-11460402 -34384695 -548910 -71926 -43421491 -941230 -8065 -31304636 -1464790 -6510 -

ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY 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 MG HLDG 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 PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS SFA SEMICON CIRTEK HLDG

1.3 39.6 0.249 24.65 81.1 367 21 5.07 4.25 2.61 10.8 32.9 7.4 16 17.68 14.14 5.95 9.2 7.16 89.5 0.71 49.3 220.2 8.22 13.62 0.189 2.03 11.78 1.88 5.1 2.23 0.126 166.3 1.22 2.42 72.3 77.1 2.64 6.14 15.84 10.52 14.3 18.46 10.5 1.07 1.28 115.1 2.04 5.24 3.23 5.2 31.3 2.37 8.22 1.52 1.09 10.36

1.32 39.95 0.25 24.75 81.2 368 21.2 5.11 4.47 2.62 11 32.95 7.48 16.1 18.5 14.2 6 9.3 7.17 91 0.73 49.45 220.8 8.59 13.64 0.209 2.04 11.8 1.91 5.12 2.3 0.127 166.9 1.23 2.54 74.95 80 2.65 6.15 15.86 10.62 14.32 18.6 10.6 1.08 1.29 126 2.13 5.35 3.53 5.3 31.7 2.39 8.45 1.54 1.1 10.5

1.3 39.9 0.25 24.85 81.4 371 22.35 5.15 4.21 2.69 10.72 33.6 7.49 15.84 18.98 14.1 5.95 9.3 7.2 91 0.74 49.5 220.4 8.6 13.84 0.189 2.06 12 1.88 5.14 2.3 0.125 168 1.26 2.42 72.05 77.15 2.66 6.12 15.84 10.5 14.14 18.9 11.5 1.1 1.34 121.7 2.11 5.3 3.41 5.2 31.7 2.39 8.55 1.55 1.11 10.3

1.32 39.95 0.255 25.15 81.4 371 22.35 5.16 4.48 2.69 11 33.6 7.5 16.1 18.98 14.26 6 9.33 7.24 91 0.74 49.5 221.6 8.6 13.84 0.189 2.06 12 1.91 5.14 2.3 0.126 168 1.26 2.42 72.3 77.15 2.67 6.14 15.9 10.62 14.32 18.9 11.5 1.1 1.34 121.7 2.13 5.39 3.53 5.31 31.7 2.41 8.55 1.55 1.11 10.52

1.3 39 0.249 24.5 81 368 20.4 5.07 4.21 2.6 10.72 32.75 7.4 15.82 18 14.08 5.94 9.15 7.15 89.5 0.71 48.9 220.2 8.6 13.62 0.189 2 11.7 1.81 5.1 2.3 0.125 165.6 1.21 2.42 72.05 77.1 2.62 6.12 15.56 10.38 14.1 18.46 10.5 1.07 1.28 115.1 2.1 5.23 3.22 5.15 31.3 2.35 8.25 1.52 1.09 10.2

1.3 39.95 0.249 24.75 81.2 368 21.2 5.11 4.47 2.62 11 32.95 7.4 16.1 18.5 14.2 5.95 9.2 7.17 91 0.73 49.5 220.2 8.6 13.64 0.189 2.03 11.8 1.91 5.12 2.3 0.126 166.9 1.23 2.42 72.3 77.1 2.64 6.14 15.84 10.62 14.32 18.46 10.6 1.07 1.29 116 2.13 5.35 3.53 5.3 31.3 2.39 8.45 1.52 1.1 10.5

41000 942200 1670000 1150000 299590 53160 1502000 1294500 6000 18168000 98300 397800 154300 589200 22700 88200 17100 738800 3523500 266740 677000 54900 1247580 500 223800 10000 5647000 1357400 1226000 4000 10000 290000 404000 13494000 3000 660 2000 2158000 10500 1229900 427900 126400 752100 240300 618000 2454000 10130 258000 7700 9000 121900 2400 3785000 140300 194000 22000 431900

53320 37476145 418060 28560095 24278464 19593300 31646935 6608905 25970 47811810 1072270 13106005 1151475 9432802 416446 1246742 101724 6834330 25302516 24082423.5 489840 2704760 275522406 4300 3065958 1890 11479260 16014582 2316670 20478 23000 36320 67306279 16613080 7260 47654 154216.5 5698510 64450 19462442 4494032 1796824 13,963,294( 2610478 664950 3174200 1175227 547970 41020 30400 640390 75370 9032770 1168770 298380 24380 4488212

-14320 1511740 -3922375 2765802.5 -13287384 1456355 -795714 -2193560 105320 3536048 332042 630351 -10669524 -11664014.5 610215 -8980832 -1228682 581090 -169408 -54204689 -11266550 4840 875260 16280796 4000784 -355110 4,350,724.0002) 86400 -101240 -15660 1207670 -275554 -145910

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG 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 KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA REPUBLIC GLASS SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.92 13.3 888 55.65 12.04 3.59 0.77 1.18 1.2 6.77 8.8 13.52 0.229 859.5 5.84 74.15 5.3 5.01 0.51 4.42 14.6 0.63 4.98 0.038 1.34 2.92 999.5 177.1 0.86 229 0.228 0.248

0.93 13.38 889 55.7 12.06 3.6 0.79 1.19 1.24 6.79 8.84 13.7 0.24 860 5.99 74.2 5.79 5.7 0.53 4.45 14.7 0.65 4.99 0.039 1.37 3.04 1010 177.9 0.88 230.2 0.229 0.25

0.93 13.48 897 55.5 12.44 3.54 0.78 1.2 1.18 6.78 8.86 13.7 0.23 885 5.88 75.3 5.4 5.1 0.51 4.45 14.8 0.66 5 0.039 1.35 3.09 1004 179 0.88 230 0.229 0.26

0.96 13.48 899.5 55.75 12.44 3.59 0.79 1.2 1.24 6.8 8.86 13.7 0.24 885 5.99 75.3 5.85 6.99 0.56 4.45 14.84 0.66 5.02 0.04 1.37 3.09 1011 179 0.88 230.2 0.233 0.26

0.92 13.38 887 54.35 12.06 3.43 0.77 1.17 1.18 6.73 8.8 13.52 0.229 851.5 5.86 73.3 5.4 5 0.51 4.4 14.54 0.63 4.91 0.039 1.34 2.92 990 176 0.85 229 0.229 0.245

0.93 13.38 889 55.65 12.06 3.59 0.79 1.19 1.24 6.77 8.8 13.7 0.24 860 5.99 74.15 5.8 6.99 0.51 4.42 14.7 0.65 4.99 0.039 1.34 2.92 1010 177.9 0.88 230.2 0.229 0.25

15505000 6400 1126670 436080 4819100 12337000 619000 2032000 65000 1022700 4734300 71100 230000 117640 12100 736800 1200 40000 1298000 235000 1150400 255000 10189700 3000000 56000 22000 150355 77610 29000 302430 170000 10550000

14452500 85732 1005647160 24243073.5 58504320 42815000 483020 2402110 76760 6929795 41726034 970426 52830 101279995 71059 54693268.5 6875 224770 678580 1040350 16912550 165040 50719591 117100 75770 64610 150853922.5 13761086 24710 69258890 38990 2739050

-1841270 -101067825 -3748458 -21390968 378670 -458577 -24120633 -161660 -68452305 -70460 -2796653.5 580 -769390 6158462 650 -8579590 -41664767.5 3685747 -386640 -

HOLDING & FRIMS

PROPERTY ARTHALAND CORP 0.91 0.93 0.95 0.95 0.91 0.93 2231000 2062890 4600 ANCHOR LAND 10 10.4 10.02 10.02 10.02 10.02 4800 48096 AYALA LAND 48.2 48.65 47.95 48.65 47.8 48.65 2947500 142309075 -40632645 ARANETA PROP 1.82 1.84 1.86 1.87 1.82 1.84 56000 102920 BELLE CORP 2.14 2.15 2.15 2.15 2.13 2.13 218000 467060 -90230 A BROWN 0.88 0.89 0.89 0.9 0.87 0.89 1643000 1447960 CITYLAND DEVT 0.84 0.87 0.87 0.87 0.87 0.87 1000 870 CROWN EQUITIES 0.217 0.227 0.227 0.227 0.217 0.217 80000 17510 -2270 CEBU HLDG 5.92 6.16 5.93 5.93 5.92 5.92 8800 52098 CEB LANDMASTERS 4.91 4.97 5.03 5.04 4.91 4.91 1036000 5187060 -79600 CENTURY PROP 0.55 0.56 0.57 0.57 0.55 0.56 16217000 9125610 -560 CYBER BAY 0.4 0.405 0.4 0.4 0.4 0.4 40000 16000 DOUBLEDRAGON 20.6 20.7 20.6 20.85 20.5 20.6 293400 6060000 7250 DM WENCESLAO 9.74 9.76 9.8 9.82 9.76 9.76 42700 418310 80234 EMPIRE EAST 0.45 0.455 0.45 0.455 0.45 0.455 140000 63100 EVER GOTESCO 0.121 0.13 0.121 0.121 0.121 0.121 100000 12100 FILINVEST LAND 1.64 1.65 1.65 1.65 1.63 1.64 6198000 10130770 1653980 GLOBAL ESTATE 1.2 1.21 1.21 1.25 1.2 1.2 1865000 2249490 -47190 8990 HLDG 15.14 15.16 15.16 15.16 15.14 15.16 65000 984142 -431490 PHIL INFRADEV 1.46 1.47 1.49 1.49 1.46 1.46 1229000 1801090 691520 KEPPEL PROP 4.26 4.71 4.71 4.71 4.71 4.71 1000 4710 4710 MEGAWORLD 4.81 4.82 4.95 5 4.8 4.81 17000000 82739980 -50011480 MRC ALLIED 0.31 0.315 0.315 0.32 0.31 0.315 8020000 2524500 -9450 PHIL ESTATES 0.44 0.46 0.44 0.44 0.44 0.44 100000 44000 PRIMEX CORP 2.06 2.08 2.09 2.09 2.05 2.06 171000 355320 ROBINSONS LAND 24.95 25.05 25 25.25 25 25.05 734200 18393140 -3288940 PHIL REALTY 0.38 0.395 0.385 0.395 0.38 0.385 260000 99400 ROCKWELL 2.34 2.35 2.38 2.38 2.34 2.34 92000 216150 SHANG PROP 3.27 3.35 3.35 3.36 3.3 3.34 80000 265500 STA LUCIA LAND 2.42 2.45 2.47 2.48 2.38 2.45 683000 1654980 SM PRIME HLDG 35.4 35.45 34.75 35.5 34.7 35.45 26175400 912416065 -21031120 STARMALLS 5.86 5.9 5.99 5.99 5.86 5.9 60000 357045 SUNTRUST HOME 0.87 0.9 0.92 0.92 0.88 0.88 536000 484950 PTFC REDEV CORP 45.05 53.7 45.05 51.5 45.05 51.5 240 12102 VISTA LAND 7.6 7.64 7.65 7.65 7.58 7.64 3820900 29135496 -8318623

SERVICES ABS CBN 18.32 18.68 19 19.36 18 18.68 269000 5032906 GMA NETWORK 5.22 5.23 5.3 5.3 5.23 5.23 80300 420602 MANILA BULLETIN 0.455 0.47 0.45 0.46 0.45 0.46 310000 140550 GLOBE TELECOM 1884 1892 1910 1910 1884 1884 15495 29275810 -16709065 PLDT 1112 1119 1148 1158 1112 1112 95815 107649510 -48808010 APOLLO GLOBAL 0.047 0.048 0.048 0.048 0.048 0.048 5000000 240000 IMPERIAL 1.82 1.86 1.84 1.9 1.82 1.82 87000 159350 1900 ISLAND INFO 0.113 0.115 0.114 0.115 0.113 0.115 500000 57020 ISM COMM 5.31 5.32 5.39 5.39 5.28 5.32 1935400 10279362 264114 JACKSTONES 2.87 2.98 2.98 2.98 2.98 2.98 1000 2980 2980 NOW CORP 3.2 3.22 3.3 3.38 3.2 3.2 3039000 9842000 59040 TRANSPACIFIC BR 0.34 0.345 0.35 0.35 0.34 0.345 4530000 1561300 PHILWEB 3.17 3.18 3.2 3.2 3.14 3.18 433000 1370850 -44100 2GO GROUP 10.14 10.2 10.4 10.4 10.2 10.2 6700 69550 CHELSEA 7.13 7.15 7.28 7.28 7.12 7.13 659100 4732558 -609757 CEBU AIR 92.9 92.95 94 94.2 91.2 92.9 14340 1326493 386515.5 INTL CONTAINER 130 130.9 130 132.6 129.2 130 1630260 211960971 -58330520 LBC EXPRESS 13.5 14.28 14.28 14.28 14.28 14.28 200 2856 LORENZO SHIPPNG 0.91 0.93 0.96 0.96 0.91 0.91 52000 48370 MACROASIA 19.12 19.38 19.26 19.38 18.8 19.38 92900 1771224 755850 METROALLIANCE A 1.15 1.19 1.16 1.16 1.16 1.16 1000 1160 METROALLIANCE B 1.22 1.39 1.23 1.23 1.22 1.22 8000 9830 PAL HLDG 8.12 8.27 8.12 8.12 8.12 8.12 2600 21112 HARBOR STAR 1.62 1.63 1.61 1.66 1.61 1.62 725000 1179720 ACESITE HOTEL 1.82 1.86 1.83 1.86 1.8 1.86 212000 389950 BOULEVARD HLDG 0.055 0.057 0.056 0.057 0.056 0.057 13780000 772250 -14000 DISCOVERY WORLD 2.02 2.14 2.02 2.02 2.02 2.02 10000 20200 WATERFRONT 0.69 0.7 0.7 0.7 0.69 0.7 404000 280100 CENTRO ESCOLAR 6.58 6.96 6.78 6.96 6.78 6.96 1200 8172 STI HLDG 0.7 0.72 0.7 0.72 0.7 0.71 1251000 889670 BERJAYA 2.36 2.37 2.37 2.37 2.36 2.37 181000 427850 BLOOMBERRY 11.1 11.14 11.1 11.1 11 11.1 5844900 64715588 -980350 PACIFIC ONLINE 2.84 2.85 2.89 2.89 2.85 2.85 55000 157400 LEISURE AND RES 3.12 3.14 3.18 3.18 3.12 3.14 278000 869180 6240 MANILA JOCKEY 3.4 3.45 3.45 3.45 3.4 3.45 79000 272450 PH RESORTS GRP 4.75 5 4.75 4.75 4.75 4.75 1000 4750 PREMIUM LEISURE 0.72 0.73 0.72 0.73 0.72 0.73 2250000 1642390 TRAVELLERS 4.81 5.5 5.5 5.5 5 5.5 5200 28191 17592 METRO RETAIL 2.44 2.45 2.5 2.5 2.45 2.45 352000 866490 -51750 PUREGOLD 41.2 41.5 42 42.1 41.2 41.5 677900 28331840 -24817190 ROBINSONS RTL 78.5 78.7 80.35 80.35 78.5 78.5 451090 35608764 -3514840.5 SSI GROUP 2.82 2.84 2.82 2.86 2.81 2.82 756000 2139050 659700 WILCON DEPOT 16.16 16.18 16.28 16.28 16.1 16.16 3577100 57783494 -15990984 APC GROUP 0.69 0.7 0.72 0.78 0.69 0.7 93518000 69740120 -4197710 EASYCALL 9.97 10.06 10.4 10.4 9.92 9.97 103200 1035912 GOLDEN BRIA 422 430 422.4 430 419.6 430 1620 691278 4288 IPM HLDG 2.28 4.25 4.5 4.5 4.25 4.25 6000 26190 4400 PRMIERE HORIZON 0.56 0.57 0.57 0.57 0.55 0.57 8654000 4861260 -33040 SBS PHIL CORP 9.16 9.37 9.35 9.36 9.35 9.36 2000 18710

MINING & OIL ATOK 11.66 12.04 12.1 12.1 12.1 12.1 100 1210 APEX MINING 1.19 1.2 1.2 1.22 1.19 1.19 540000 644090 ABRA MINING 0.0017 0.0018 0.0018 0.0018 0.0016 0.0017 2850000000 4845000 ATLAS MINING 2.5 2.53 2.55 2.55 2.5 2.5 213000 537980 15090 BENGUET B 1.15 1.31 1.17 1.17 1.17 1.17 11000 12870 COAL ASIA HLDG 0.285 0.295 0.295 0.295 0.285 0.285 70000 20050 CENTURY PEAK 2.67 2.68 2.68 2.69 2.66 2.67 920000 2459090 DIZON MINES 7.75 7.99 7.93 7.99 7.75 7.99 4100 32581 FERRONICKEL 1.75 1.76 1.71 1.77 1.7 1.76 14944000 26098770 752360 GEOGRACE 0.25 0.255 0.237 0.27 0.231 0.25 34970000 8926440 -7800 LEPANTO A 0.109 0.111 0.11 0.111 0.109 0.109 300000 33050 LEPANTO B 0.109 0.11 0.109 0.109 0.109 0.109 20000 2180 MANILA MINING A 0.0095 0.0099 0.0094 0.0095 0.0094 0.0095 12600000 119690 MANILA MINING B 0.011 0.012 0.011 0.012 0.011 0.012 4300000 50000 MARCVENTURES 1.16 1.18 1.17 1.21 1.16 1.16 217000 257300 NIHAO 1.19 1.2 1.16 1.22 1.16 1.2 1601000 1915880 12000 NICKEL ASIA 4.28 4.29 4.32 4.35 4.19 4.28 2650000 11297280 336040 OMICO CORP 0.51 0.54 0.51 0.54 0.51 0.54 35000 17940 ORNTL PENINSULA 0.92 0.93 0.9 0.92 0.9 0.92 306000 280910 PX MINING 3.81 3.85 3.92 3.92 3.81 3.81 1232000 4727140 -827760 SEMIRARA MINING 22.65 22.8 23.05 23.15 22.65 22.65 436600 9919660 -924375 UNITED PARAGON 0.0063 0.0065 0.0063 0.0063 0.0063 0.0063 5000000 31500 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.012 16000000 191500 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 400000 4500 PHINMA PETRO 9.19 9.24 9.5 9.5 9.2 9.2 1086100 10109900 836765.9998 PXP ENERGY 12.12 12.18 12.3 12.3 12.1 12.18 520900 6326598 -382574

PREFFERED

HOUSE PREF A 97.55 99.7 97.4 99.7 97.4 99.7 97830 9575939 AC PREF B1 505 512.5 510 510 510 510 1020 520200 AC PREF B2 502.5 504 504 504 504 504 1200 604800 ALCO PREF B 100.5 104.6 101.3 101.3 100 100 10640 1070414 DD PREF 101.1 102 101.9 102 101 101 1100 111263 SMC FB PREF 2 988 998 990 998 990 998 70 69700 FGEN PREF G 107 108 108 108 108 108 8400 907200 907200 GTCAP PREF B 980 990 980 990 980 990 50 49300 LR PREF 0.99 1 0.99 0.99 0.99 0.99 22000 21780 MWIDE PREF 101 101.5 101 101 101 101 2000 202000 PNX PREF 3A 100.1 102 101.1 101.1 100 100 10000 1001810 PNX PREF 3B 108 109 108 108 108 108 60 6480 PCOR PREF 2B 1025 1026 1024 1024 1024 1024 145 148480 PCOR PREF 3A 1055 1058 1054 1055 1054 1055 2280 2405065 PCOR PREF 3B 1079 1080 1079 1080 1079 1079 13845 14939755 -53950 SFI PREF 1.4 1.73 1.4 1.4 1.4 1.4 1000 1400 SMC PREF 2C 77.7 78 78 78 77.6 78 42210 3291860 SMC PREF 2D 75.25 75.45 75.05 75.5 75.05 75.15 1101340 82765868.5 SMC PREF 2E 76.5 76.8 76.5 76.5 76.5 76.5 10600 810900 SMC PREF 2F 76.5 76.95 76.5 76.5 76.5 76.5 30500 2333250 SMC PREF 2G 75.25 75.8 75.8 75.8 75.8 75.8 4000 303200 SMC PREF 2H 75.15 76 76 76 76 76 1920 145920 SMC PREF 2I 76.2 76.6 76.6 76.6 76.6 76.6 600 45960 PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

18.22 5.08

18.4 5.18

18.48 5.19

18.48 5.19

18.2 5.08

18.22 5.08

47800 9600

874722 49018

WARRANTS LR WARRANT

1.61

SMALL & MEDIUM ENTERPRISES

ITALPINAS 7.29 KEPWEALTH 10.5 XURPAS 0.96

1.72

1.65

1.65

1.63

1.63

43000

70510

-35860

7.32 10.54 0.97

6.98 10.88 1

7.35 10.92 1

6.91 10.5 0.96

7.32 10.5 0.96

2901500 670500 2116000

20725910 7101428 2055280

68342 7276 -23520

EXHANGE TRADE FUNDS FIRST METRO ETF

117.7

-245062 -

118

118

118

117.6

117.7

3990

469642

-28282

www.businessmirror.com.ph

Aboitiz arm raring to start work on common towers

A

By Lorenz S. Marasigan

@lorenzmarasigan

BOITIZ InfraCapital Inc. is raring to erect its first shared telco tower in the country, as it finalizes all infrastructure orders from the two largest players—Smart Communications Inc. and Globe Telecom Inc.—as well as the newest entrant in the industry, Dito Telecommunity Corp.

Cosette V. Canilao, who sits as COO at Aboitiz InfraCapital, said her group hopes to start offering the shared telco infrastructure within the year starting with repurposing its

existing power poles to base stations.

“We are still working with mobile network operators, talking about their requirements and what we can provide for them. Negotia-

tions are ongoing,” she said. “Soon, we hope to ink already an agreement on the number of towers that we will provide them.”

The plan is to remodel the utility poles of the Aboitiz Group in Visayas, Mindanao and Subic in Luzon to enable them to host radio equipment for cellular transmission.

“This one is a much faster track because we don’t have to ask for additional permits. So it’s really just reinforcing our existing poles, which are [in] the tens of thousands. It will take around one to two months to reinforce them,” Canilao said.

Aboitiz InfraCapital could also build new ones, depending on the need, Canilao added.

“It would take around six to eight months to get the permitting and

everything for the new towers,” she said.

Together with Frontier Tower Associates Philippines Inc. (FTAP), Aboitiz InfraCapital has signed two memoranda of understanding (MOUs) with Smart and Globe to build telco towers in Visayas and Mindanao.

“For Dito, we’ve already signed the NDA [nondisclosure agreement] and we’re working toward signing the MOU. We’re also talking about their requirements,” she said.

This initiative is in line with the Department of Information and Communications Technology’s (DICT) policy on shared telco infrastructure. The agency aims to build at least 50,000 new common towers across the country in the next decade.

Plantation pours in ₧306 million for pineapple packing plant in BARMM

By Manuel T. Cayon Mindanao Bureau Chief @awimailbox

D

AVAO CITY—A Dole Philippines-managed plantation in Lanao del Sur is investing P306 million to put up its own packing plant, the biggest investment to come so far for the fledgling Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

The BARMM’s Regional Board of Investments (RBOI-BARMM) disclosed its recent approval of the registration of Wao Development Corp. (WDC) to establish a pineapple packing plant in the municipality of Wao in Lanao del Sur province The company told the RBOI that the fresh investment capital from its new management, Dole Philippines, would improve its packing process and maximize its packing capacity to about 5 million boxes per year.

The company will export its products from the Wao plantation to Singapore through Dole Asia Holdings.

The project will employ 753 workers.

With the project site classified as a less-developed area, the company will be allowed to enjoy incentives from the government, such as income tax holidays, duty-free importation in capital equipment, and other applicable incentives upon start of the project’s commercial

operation, said Eshan Karl Mabang, RBOI-BARMM executive director.

The RBOI said the company was a holder of a Rainforest Alliance Certification, attesting to compliance with international environmental standards. It said the company’s corporate social responsibility activities were related to health and education, which would benefit the people of Wao. The RBOI said pineapple is the second most popular tropical fruit in the Philippines next to banana.

More than 75 percent of pineapple production comes from Mindanao, including those from Maguindanao and Lanao del Sur. Pineapples are processed into juice, jellies and jams, dried fruit, pineapple vinegar and fruit cocktail.

RBOI-BARMM Governor Sukarno Baraguir said the approval of the WDC project “is a good sign that the Bangsamoro region is fast becoming an investment destination of choice by investors.”

“We are bullish that more investors will come because of the sustainable peace that we are experiencing now. This will make the region a more conducive and competitive place for business,” Baraguir said.

On September 17, the members of the RBOI Management Committee conducted a site visit at Barangay Banga in Wao, Lanao del Sur, where the project will be implemented.

Tour company Thomas Cook collapses, global bookings canceled Continued from B1

In May, the company reported a debt burden of £1.25 billion and cautioned that political uncertainty related to Britain’s scheduled departure from the European Union at the end of October had hurt demand for summer holiday travel.

Heat waves over the past couple of summers in Europe have also led many people to stay at home, while higher fuel and hotel costs have weighed on the travel business.

The company’s troubles were already affecting those traveling under the Thomas Cook banner.

A British vacationer told BBC radio on Sunday that the Les Or-

angers beach resort in the Tunisian town of Hammamet, near Tunis, demanded that guests who were about to leave pay extra money for fear it wouldn’t be paid what it is owed by Thomas Cook.

Ryan Farmer, of Leicestershire, said many tourists refused the demand, since they had already paid Thomas Cook, so security guards shut the hotel’s gates and “were not allowing anyone to leave.”

It was like “being held hostage,” said Farmer, who is due to leave Tuesday. He said he would also refuse to pay if the hotel asked him.

The Associated Press called the hotel, as well as the British Embassy in Tunis, but no officials or managers were available for comment. AP

mutual funds

September 23, 2019

NAV One Year Three Year Five Year Y-T-D

per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 255.42 5.18% -1.77% -0.35% 1.28% ATRAM Alpha Opportunity Fund, Inc. -a 1.5668 12.19% 3.21% 1.23% 8.75% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.9646 4.98% -2.89% -1.76% 1.58% Climbs Share Capital Equity Investment Fund Corp. -a 0.96 10.6% n.a. n.a.

6.55% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8485 5.96% n.a. n.a.

3.39% First Metro Save and Learn Equity Fund,Inc. -a 5.4063 7.38% -0.22% -0.24% 2.52% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8669 7.62% -4.36% n.a.

3.61% MBG Equity Investment Fund, Inc. -a 117.7 3.12% n.a. n.a.

1.32% PAMI Equity Index Fund, Inc. -a 51.8275 9.71% -0.04% n.a.

5.29% Philam Strategic Growth Fund, Inc. -a 538.47 9.09% -1.03% -0.38% 4.61% Philequity Dividend Yield Fund, Inc. -a 1.302 7.39% 0.01% 0.73% 3.83% Philequity Fund, Inc. -a 38.3432 8.61% 0.9% 0.64% 4.67% Philequity MSCI Philippine Index Fund, Inc. -a,3 1.0264 n.a. n.a. n.a. n.a.

Philequity PSE Index Fund Inc. -a 5.2653 10.84% 0.74% 1.6% 6.18% Philippine Stock Index Fund Corp. -a 879.05 10.9% 0.63% 1.52% 6.11% Soldivo Strategic Growth Fund, Inc. -a 0.9095 10.5% -0.31% n.a.

5.76% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.258 8.85% 0.39% 0.8% 4.91% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 1.01 10.44% 0.58% n.a.

5.84% United Fund, Inc. -a 3.6762 8.7% 2.04% 1.86% 5.01% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c,2 117.86 11.19% 1.41% 2.56% 6.42% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9561 -5.71% 1.42% -1.37% 2.91% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3043 0.64% 7.72% n.a. 18.01% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6379 1% -3.39% -3.03% -0.81% ATRAM Philippine Balanced Fund, Inc. -a 2.2867 5.4% -1.28% -0.13% 3.51% First Metro Save and Learn Balanced Fund Inc. -a 2.6448 7.39% 0.08% -1.45% 4% Grepalife Balanced Fund Corporation -a 1.3437 4.46% n.a. n.a.

3.02% NCM Mutual Fund of the Phils., Inc. -a 1.9556 8.18% 0.64% 0.97% 6.1% PAMI Horizon Fund, Inc. -a 3.773 9.26% -0.61% 0.19% 6.91% Philam Fund, Inc. -a 16.9146 9.42% -0.53% 0.12% 6.33% Solidaritas Fund, Inc. -a 2.141 6.26% 0.25% 1.23% 3.47% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8648 8.37% 0.25% 0.64% 5.85% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,4 1.0162 n.a. n.a. n.a. n.a.

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,4 1.0034 n.a. n.a. n.a. n.a.

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,4 1.0008 n.a. n.a. n.a. n.a.

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9818 7.64% -0.11% -0.04% 6.52% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03841 9.68% 2.15% 2.35% 8.81% PAMI Asia Balanced Fund, Inc. -a $0.9869 1.28% 1.74% -0.76% 8.01% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.7794 2.97% 5.5% 2.92% 14.23% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.1163 4.24% 3.53% n.a. 10.52% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 353.88 3.65% 2.23% 2.29% 3.03% ATRAM Corporate Bond Fund, Inc. -a,1 1.9163 3.08% 0.02% 0.1% 3.07% Cocolife Fixed Income Fund, Inc. -a 3.0828 5.2% 5.3% 5.24% 3.59% Ekklesia Mutual Fund Inc. -a 2.2004 3.72% 1.16% 2.01% 3.34% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.33 5.15% 1.32% 1.55% 5.66% Grepalife Fixed Income Fund Corp. -a P 1.6079 2.21% -1.27% 0.3% 2.78% Philam Bond Fund, Inc. -a 4.2843 9.79% 0.53% 1.77% 9.3% Philequity Peso Bond Fund, Inc. -a 3.737 7.87% 1.31% 1.61% 6.25% Soldivo Bond Fund, Inc. -a 0.9483 6.2% -0.29% n.a.

6.41% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0119 9.25% 1.93% 2.56% 8.9% Sun Life Prosperity GS Fund, Inc. -a 1.6662 8.96% 1.38% 2.09% 8.2% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $465.03 4.48% 1.8% 2.85% 3.71% ALFM Euro Bond Fund, Inc. -a Є220.11 3.34% 1.26% 1.53% 3.5% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.196 6.77% 1.99% 2.5% 6.25% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 4.03% 0.92% n.a.

4.03% Grepalife Dollar Bond Fund Corp. -a $1.7167 1.06% -2.08% 0.47% 1.57% PAMI Global Bond Fund, Inc -a $1.0959 6.46% -0.3% -1.16% 5.75% Philam Dollar Bond Fund, Inc. -a $2.4134 11.46% 1.65% 3.6% 11.18% Philequity Dollar Income Fund Inc. -a $0.0600665 5.65% 1.87% 2.06% 5.38% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1598 9.2% 0.81% 2.94% 10.02% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 124.58 4.04% 2.61% 2.06% 3.06% First Metro Save and Learn Money Market Fund, Inc. -a,5 1.0222 n.a. n.a. n.a. n.a.

Philam Managed Income Fund, Inc. -a 1.2365 5.45% 2.25% 1.4% 4.62% Sun Life Prosperity Money Market Fund, Inc. -a 1.2544 3.89% 2.79% 2.18% 2.89% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0326 2.21% n.a. n.a.

1.64% 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."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

How to keep your business ahead of the competition

W

HEN you have a successful business, expect competition to come.

Competitors, especially those who will imitate your business and will put up a store right next to yours, is something you should accept as a fact of life.

Believe me, it happens—and it happened to me at least four times already.

Many first-time entrepreneurs dread the idea of having to face competition.

But I discovered that the sooner you get over the idea, the sooner you can focus and act to keep your business ahead.

Remember that “all is fair in love and war”—and that includes business wars.

Now here are some tips on how you can stay on top.

Have a healthy mindset about competition Like you, your competitors are just there to make a living. Don’t waste your time feeling bad that someone just copied your business. Instead, turn that negative energy into something positive by seeing this as an opportunity to make your business better.

Know how your business is currently doing One of the best ways to know the current status of your business is to do a SWOT Analysis. This gives a detailed look on how your business stands today and where it is most likely going.

Check the competition—both old and new Sure, that new store will take a slice of your profit. But before that, is there someone else that’s taking a piece of your pie?

A comprehensive study of your market will help you come up with a business strategy that will not only keep you ahead of the new players but make sure that the old ones stay at bay, too.

Trivia: Currently, who do you think is the biggest competition of Coca-Cola in the Philippines? If you answered Pepsi, then you’re wrong. According to a friend of mine who works for a market research firm, their studies show it’s C2 Green Tea that’s taking most of their profits —a “health drink” and not another soft drink brand.

Build on your strengths Once you know where your business stands and learned everything you can about your competition, it’s now time to make changes. The first thing you should do is to build on your core competencies.

These are the things that your business does well and most probably the reason your

Fitz Gerard Villafuerte

personal finance customers love you.

Quote: “Market your strengths and your market will strengthen.”

Improve on your weaknesses No business is really perfect and there will always be room for improvement. And once you’ve identified your weaknesses (by doing a SWOT Analysis)—draft a plan to improve.

And remember, always measure the efficiency of your actions by doing a gap analysis.

A price war should be a last resort The “knee-jerk reaction” of some people against competition is through a price war.

From experience, I learned that lowering your prices to retain your customers or boost your sales is never a good idea when there’s new competition. Even if they open with cheaper tags, never be compelled to instantly follow—as stated—make it as a last resort.

Key points you should remember regarding price wars: A new business will always attract the market, so expect a sudden dip in sales and don’t panic. Things will stabilize once the novelty of the new business subsides.

People are usually willing to pay a bit more in exchange for good service. So rather than having cheaper items, opt to first try to have better customer service than your competition.

Try to initiate a “coopetition” (cooperation-competition). Have a talk with your competitors and see if you can agree on a common price tag for your products. Propose a win-win situation.

I hope these tips can help your business stay ahead of new (and old) competition.

Remember that in today’s market, a business monopoly is as rare as gold. So always be ready to fight for your place in the market.

Fitz Villafuerte is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 79th RFP program this October 2019. To inquire, e-mail info@rfp.ph or text <name><e-mail> <RFP> at 0917-9689774.

SSS program for delinquent employers benefits nearly 500,000 employees

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HE state-run Social Security System (SSS) announced that nearly 500,000 employees of more than 55,000 employers who availed themselves of the recently concluded Contribution Penalty Condonation Program (CPCP) will soon enjoy their benefits and privileges as active members of the pension fund.

SSS President and Chief Executive Officer Aurora C. Ignacio said the pension fund has so far collected P1.81 billion worth of contributions from the full and initial payments of employers who applied for the CPCP from March 6 to September 6, 2019. Meanwhile, the total amount of contribution delinquencies collected under the CPCP amounts to P7.88 billion.

“We’re very happy that nearly half a million Filipino private workers will soon enjoy the seven benefits being offered by the pension fund, as well as its short-term loan privileges as soon as their employers have fully remitted their contributions to SSS,” Ignacio said.

Active paying SSS members may access sickness, maternity, unemployment, disability, retirement, funeral and death/survivor benefits.

SSS data showed that of the P7.88-billion delinquencies of the 55,750 employers who applied for the CPCP, P3.88 billion were condoned penalty.

Employers who accessed the CPCP with less than 100 employees stood at 55,275 with

more than P3.28-billion condoned penalties and P1.58-billion initial contribution collection. Large Accounts or employers who have more than 100 employees who availed themselves of the program, on the other, were recorded at 475 with more than P597.64-million waived penalties and P227.74-million initial contribution collection.

“Some of the employers who availed themselves of the program paid in full, while most of them chose to pay their obligations in installment of up to 48 months. We’re hoping that they will be responsible enough this time to pay their dues on time not only to regain their good standing with the SSS but also for their employees to reap the benefits of being a member of SSS,” Ignacio said.

“We will closely monitor those who have availed themselves of the CPCP so that we can immediately notify them at the first instance of nonpayment of their obligation,” she added.

Moreover, SSS reminded employers who have received their latest statements of account but did not apply for the CPCP that they will be referred to the SSS Operations Legal Department for filing of case or for serving of Warrants of Distraint, Levy and Garnishment (WDLG).

The CPCP was offered to SSS delinquent employers following the effectivity of Republic Act 11199, or Social Security Act of 2018 on March 6, 2019.

GSIS eyes PPP to enhance income from property assets

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N its continuing efforts to enhance revenue income from its investment properties, the governing board of the Government Service Insurance System (GSIS), led by Chairman and Acting President and General Manager Rolando Ledesma Macasaet, recently attended a seminar on public-private partnership conducted by Philippine Reclamation Authority Chairman and certified PPP specialist, lawyer Alberto C. Agra.

Macasaet said that the “GSIS Board wants to understand how PPP works so that we can maximize the use of GSIS’s property assets, for the benefit of our over 2 million members and pensioners.”

“Through PPP, GSIS can redevelop its properties for productive or commercial use, which will boost our income and sustain our fund life,” the pension fund chief pointed out.

The GSIS Board of Trustees was briefed on various PPP modalities which include buildoperate-transfer schemes, joint ventures, divestment, lease, management contract, service contract, real property swap and concession.

In 2012, GSIS entered into a PPP contract with the Philippine Investment Alliance for Infrastructure, considered as the first private equity fund for infrastructure projects in the country.

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Security Bank raises ₧6.06B in LTNCD offer

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By Bianca Cuaresma @BcuaresmaBM

ECURITY Bank announced on Monday that it has successfully raised P6.06 billion in its offer of Long-Term Negotiable Certificates of Deposit (LTNCD).

The LTNCD offer marks the second time the bank has tapped the debt capital markets to raise funds this year.

Security Bank said this issuance was driven by solid demand from both retail and institutional investors, resulting in total subscriptions of P6.06 billion.

The subscriptions exceeded the original offer of P5 billion, allowing the bank to successfully price the LTNCD at 4 percent, despite rising interest rates and

broader market volatility.

“This issuance has firmly placed our credit among retail investors—the LTNCD gives the investing public the chance to further express their confidence in Security Bank’s stability and ability to grow,” Security Bank Executive Vice President and Treasurer Raul Pedro said.

The P6.06 billion drawdown marks the first tranche of Security Bank’s P20 billion approval from the Bangko Sentral ng Pilipinas.

The issue date is set at September 23, 2019, with March 23,2025, as maturity date.

Deutsche Bank AG, Manila branch acted as the Sole Lead Arranger and Selling Agent, assisted by Security Bank.

Security Bank further said the LTNCD issuance is part of

the bank’s efforts to diversify its funding sources and support business expansion plans.

Security Bank is among the six largest private domestic universal banks in the Philippines by total assets—currently at P767 billion—as of December 31, 2018.

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Max’s Group reaps 14 Franchise Excellence Awards

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AX’S Group Inc. (MGI), the largest homegrown casual dining restaurant operator in the Philippines, won 14 Franchise Excellence Awards from the Philippine Franchise Association (PFA), the elite governing body that recognizes the best-managed companies in the Philippine franchising sector. MGI President and Chief Executive Officer Robert F. Trota was also honored with the prestigious PFA Leadership Award, that identifies the forerunners of instilling world-class standards among franchisees and leaders.

Max’s Restaurant, MGI’s flagship brand, took home the Inclusive Business Model Award; along with honors for two Max’s franchisees – Demetrio Bajet, who received the National Franchisee Award for Large Category and Regional Franchisee Award for North Luzon, and Atty.

Diane Garcia, who bagged the Regional Franchisee Award for South Luzon.

MGI’s dynamic and on-the-go New York-style pizza chain, Yellow Cab, dominated the night with a total of four (4) distinguished honors, including the Inclusive Business Model Award, the PricewaterhouseCoopers (PwC) Iconic Filipino Franchise Award, Global Filipino

Franchise Award, and Outstanding Filipino Franchise Award.

Krispy Kreme and Jamba Juice, Japanese-inspired chain Teriyaki Boy, and value-friendly steakhouse Sizzlin’ Steak each received the Inclusive Business Model Awards to round up MGI’s overall haul.

The latter was especially recognized for its award-winning Good Together Campaign and Food Sharing Project. ”One of the important factors to our success as both flagbearers of local cuisine and valued partners of international food brands are our franchisees. It is through our synergic efforts that push us to keep reinventing ways to engage our stakeholders and reach milestones that

contribute to the growth of the Philippine franchising industry," shares Trota.

“As business partners, we are aligned in the commitment to total services for our customers and in attaining our promise to deliver,” notes Bajet.

“Our relationship with MGI is more than just numbers. It’s an agreement on the goal, its compatibility of our skill sets, and a symphony of each other’s commitment which is to make our franchise a success,” says Garcia.

With the ability to understand and provide for its franchising business partners’ needs, MGI continues to be a major player in the Philippine franchising industry.

Sitel champions inclusion and diversity at the PFIP Pride Summit 2019

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ITEL Philippines threw its full support behind the Philippine Financial Industry Pride’s Pride Summit 2019, with a silver sponsorship.

The PFIP Pride Summit is the biggest of its kind in the Philippines and paves the way towards promoting workplace inclusion and diversity in the country. Now on its third year, the Pride Summit offered a full program of topics and speakers who provided insights and practices uniquely relevant to establishing diversity in the

Philippine context. The event further aimed to facilitate the exchange of ideas amongst professionals on how to enhance office inclusion policies and practices, institutionalize SOGIE in the workplace, and actively promote the advocacy.

The 2019 Pride Summit was held in the Marriott Grand Ballroom with the theme “All In. All Out.” – created to address the challenges of the LGBTQ+ community in the workplace today. “All In” called on attendees to utilise their unique strengths to create a safer and

more inclusive work environment where everyone contributes and develops their skills and talents regardless of identity.

“All Out”, on the other hand, promoted moving from simple tolerance to true integration, allowing everyone to express his or her true selves at the workplace without fear of discrimination. Combined “All In. All Out.” called on summit participants to work towards creating a work environment where everyone may thrive and grow together.

“We are very happy to support this important event,” shared Jen Vargas, Senior Manager- Corporate HR of Sitel Philippines. “My takeaway from the talks and breakout sessions is that it is not just about initiatives, programs, and lip service anymore. To create truly inclusive workplaces, we need to invest and commit programs to actions. Saying “we are a diverse and inclusive organization” is not enough - organizational policies must be aligned, the work environment needs to support that claim, and most importantly, practices and behavior of everyone in the organization has to reflect and reinforce that value of inclusivity.”

Quest Hotels and Resorts offers early Christmas deals with Quest for Yuletide Cheer

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uest Hotels and Resorts invites guests to Quest for Yuletide Cheer in in Cebu, Clark and Tagaytay with savings on accommodations, added benefits and a surprise treat when guests book from October 1, 2019 to November 30, 2019 and stay from October 15, 2019 to December 26, 2019.

Quest Hotels and Resorts is offering discounted room rates to those planning an early Christmas staycation with surprise treats that guests can win such as lunch buffet, Christmas goodies and more when they book at questhotelsandresorts.com using

promo code Christmas.

Travelers can look forward to an exciting Christmas as they choose from Quest Hotels destinations in the bustling city of Cebu, amidst lush greenery in Clark and with the cool weather in Tagaytay!

For those who want to travel up north, Quest Plus Conference Center Clark is where elegance meets nature, the four-star hotel located in Filinvest Mimosa+ Leisure Estate houses Mimosa Golf Course and the ideal destination to explore stunning foothill mountain views, dining destinations and fun family activities. Guests can enjoy room rates starting at Php 5,500 net when booked at questhotelsandresorts.com/

clark using the promo code Christmas.

To those looking for a city escape in Cebu, Quest Hotel & Conference Center Cebu presents travelers with a cool, clean, and comfy choice when visiting Cebu City. Located right on the pulse of the metropolis, the three-star business hotel showcases contemporary facilities, delightful amenities, and signature service from the heart to guests. For their Quest for Yuletide Cheer offer, guests can book a stay for as low as Php 5,150 net when they book at questhotelsandresorts.com/cebu using promo code Christmas.

If guests want a nearby getaway to the South, Quest Hotel Tagaytay can be their choice destination where they can enjoy rates starting at Php 4,000 net. The Quest for Yuletide Cheer package of Quest Hotel, Tagaytay includes VIP passes to Sky Ranch where the family can enjoy over 10 rides and attractions such as the Sky Eye where you can get a breathtaking view of Taal as the ride goes as high as 63 meters above the ground. To book a stay in Quest Hotel, Tagaytay visit questhotelsandresorts. com/Tagaytay and use the promo code Christmas.

The Quest for Yuletide Cheer offer is available for booking from October 1 to November 30, 2019 and is valid for stays from October 15, 2019 to December 26, 2019. To learn more about Quest for Yuletide Cheer, visit questhotelsandresorts.com

Sun Life bags three awards of excellence at Quill

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UN Life of Canada (Philippines), Inc. (“Sun Life”) was honored in the 17th Philippine Quill Awards. An Award of Excellence was bestowed on My Dream Advisor, a series of light but informative videos that educated the public on the qualities that one must look for in an advisor, and promoted Sun Life’s advisor discovery tool called Advisor Match.

Two internal campaigns likewise earned Awards of Excellence: Data Defenders, which highlights how employees and advisors can help protect the data of clients; and Keep It Simple, Sun Lifers!, which encourages the use of simple language to make it easy for clients to do business with the company.

Sun Life also got an Award of Merit

for its partnership with Lazada in an initiative that aims to make life insurance more affordable and accessible to Filipino families via Family Armor.

“All our winning campaigns are geared towards serving our clients better in the hope of building lifetime relationships with them,” Sun Life Chief Marketing Officer Mylene Lopa said. “These awards inspire us to continuously innovate in how we communicate, so we can further help clients achieve lifetime financial security and lead healthier lives.”

Organized by the International Association of Business Communicators (IABC) Philippines, the Philippine Quill Awards aims to honor outstanding communication programs and tools across industries.

CREBA sets 28th annual confab from October 9-12 in Cebu

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HE Chamber of Real Estate and Builders’ Associations, Inc. (CREBA) has set its 28th annual national convention from October 9-12, 2019 at the “Queen City of the South” – Cebu City.

The annual convention held every October, in view of the “National Housing Month,” fosters fellowship and networking among members, generates business interaction among CREBAns and their business counterparts, and discusses workable measures to address various housing concerns.

CREBA is the umbrella organization of real estate developers, professionals, and other entities engaged in development, building and construction, technical consultancy, marketing, supplies and other related services.

With its advocacy programs and initiatives for the past 45 years, it has become government’s strongest ally in pursuing a truly rational shelter program.

According to Charlie A. V. Gorayeb, national chairman, this year’s convention will continue to pursue CREBA’s long-term vision of “A Home for Every Filipino: 10 Million Homes by 2040.”

This constant battle-cry embodies the aspirations of CREBA’s Five-point Agenda for Housing, a package of policy and legislative reform proposals aimed at raising housing production to the level of 500,000 units per year over a timeline of 20 years.

Gorayeb underscored that three major issues that must be addressed to curb the country's at least 6.57 million housing backlog: finance, land and governance.

The 5-Point Agenda covers (1) longterm and affordable funds for socialized and economic housing; (2) affordable homes in urban areas; (3) equitable allocation of lands for human settlements, agriculture and the environment; (4) efficient housing regulations; and (5) a full-fledged human settlements and urban development department to provide housing concerns the attention it deserves at the highest level of government.

National president Noel Toti M. Cariño said that the Chamber remains vigilant in its dream to see the dawning of the age of shelter security for all Filipinos. Its initiatives and advocacies have been consistently focused not just on the interest of its members, but also on enabling the millions of homeless families to acquire decent, affordable homes.

Pablo A. Panlilio, Jr., executive vicepresident and chairman of the convention organizing committee, promises that while the annual event has always been known for its unprecedented initiatives in support of national housing and development goals, it also beams with excellent opportunities in the framework of private sector and government cooperation.

DOT 11 holds Davao Oriental dive fest

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O promote and develop the dive tourism industry in the Davao Region, the Department of Tourism Region 11 held the first Sawom Dabaw, the Davao Oriental Dive Festival in Governor Generoso (GovGen). “Sawom”, which literally means to swim or dive, featured discovery dive tours among participating dive center operators, industry stakeholders, underwater photographers and media.

According to DOT 11 regional director Tanya Rabat-Tan, they envision the province as the next diving getaway of the region its rich marine and terrestrial biodiversity.

She noted that it has the region’s longest coastline of more than 500 kilometers, exemplifying the richness of its coastal and marine resources that can be harnessed for sustainable tourism.

The event is a step towards DOT 11’s

“Islands to Highlands” tourism thrust of discovering new “ridge to reef” sites it can offer to adventure-loving local and foreign visitors the region.

The divers explored the dive sites of GovGen, namely Sigaboy Island, Coral Garden, Cape San Agustin and Great Wall, a drop off near the coast of Tagabebe village which teems with barrel sponges, soft coral and gorgonian fans.

A dive forum was also conducted simultaneously for the locals to underscore sustainability of the town’s marine biodiversity.

A series of dive validation activities were subsequently held in Mati City and the municipality of Tarragona, which revealed more potential sites for diving operations.

DOT dive expedition was hatched last year in Talikud Island in the Island Garden City of Samal, Davao del Norte.

Sports BusinessMirror

MEMBERS of the Esteban Chaves Foundation team train in Puente Piedra near Bogota in Colombia. AP

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| Tuesday, September 24, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

FESTERING DOPING PROBLEM

By Davidde Corran The Associated Press

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ADRID, Colombia—After a punishing climb in the Andean mountains surrounding Colombia’s capital, Armando Cardenas leans against his bike to catch his breath.

In a decade-long career racing professionally, Cardenas never reached the same international heights as the country’s biggest cycling stars. Though with seven national titles and a medal at the Pan-American Games, the 37-year-old got to live his dream of cycling professionally.

Like many of his fellow Colombian cyclists, he also made the decision to dope.

“I wanted to know what it meant to race while doping,” said Cardenas, who now coaches a crop of local talent, “and the difference was huge.”

In the weeks since Egan Bernal became the first Colombian to win the Tour de France, the country has been basking in attention focused on its reputation for churning out specialist climbers raised on thin mountain air and possessing the sort of extreme stamina taught by poverty.

But that wholesome image, a welcome antidote to a sport tarnished globally by scandal, risks being undercut by a festering doping problem that the country has been slow to address.

In August, Alvaro Duarte tested positive for a performance-enhancing drug after winning top climbing honors at the Vuelta a Colombia, bringing to 42 the number of Colombian cyclists currently sanctioned or provisionally suspended. Only Costa Rica has more cyclists suspended by the sport’s world governing body than Colombia. The suspension added to doubts that first surfaced in 2017 after the World Anti-Doping Agency revoked the license of a government-run lab responsible for all doping tests in Colombia and the ban this year of the country’s premier international team, Manzana Postobon, which prided itself on clean cycling.

Part of the problem is the ease with which Colombian cyclists can find an artificial boost: at their local pharmacy. The sale and traffic of performance-enhancing drugs is legal in Colombia, meaning substances such as EPO can be bought over the counter.

While athletes break their sport’s rules by doping, prosecutors are unable to hold users, or their suppliers, accountable. That became clear when a Colombian doctor, Alberto Beltran, was paraded in front of the media in 2016 after he was captured on a Spanish arrest warrant for allegedly leading a doping network in Spain. He was released after Colombia’s Supreme Court ruled Beltran’s alleged crimes weren’t punishable in Colombia.

The veil of silence enveloping the sport was first lifted

by Colombian cycling veteran Juan Pablo Villegas during a 2015 interview. Four years later he remains the only cyclist to have taken a public stand on the issue while still competing.

Driving the widespread use of performanceenhancing drugs, he says, is the desperate economic situation many of the country’s 5,000 professional cyclists find themselves in. With little prize money available and most professional teams offering only minimal support, many will do whatever it takes to survive in the sport.

“Most cyclists disagree with doping,” said Villegas.

THE US’s Christian Coleman (left) wins the 100-meter race as he looks toward compatriot Justin Gatlin during the Prefontaine Classic in Stanford, California, last June. AP

Doping back as main topic in sprint game D

OHA, Qatar—Usain Bolt is in the rearview mirror, replaced by—what else?—an unfolding doping saga in track and field.

The title of “World’s Fastest Man” now that Bolt is on the sideline belongs to American 100-meter sprinter Christian Coleman, who almost was banned from this month’s world championships because he had missed too many drug tests.

Coleman got a reprieve, but with the vacuum created

by Bolt’s departure, the Coleman case placed the specter of doping front and center again in the sprint game—same as it had been for decades before the Jamaican arrived and overtook the conversation with his sheer speed and buoyant personality.

Coleman’s case involved a pileup of complicated rules, confusing interpretations and twisted after-the-fact narratives that have allowed critics to cast both main players in this saga—Coleman and the US Anti-Doping Agency (Usada)—into a negative light.

Coleman, who has never failed a drug test, nor ever been suspected of running afoul of the rules, will be running under a cloud of suspicion in the minds of some fans and media who tend to paint all US sprinters with the same broad brush—as cheaters, a stereotype borne out of America’s sordid doping past.

Coleman, meanwhile, is assailing Usada for being sloppy and putting him in the crosshairs because of the confusion over the rules.

“It’s a shame on Usada, the fact that this was public knowledge, the fact that they didn’t know their own rules, and the fact they expect athletes to know the rules but they

can’t follow their own,” Coleman said on a 22-minute video he posted on YouTube last week.

At issue are the World Anti-Doping Agency’s rules, which call for athletes to provide information on their whereabouts so doping-control officers can find them for out-ofcompetition tests with no advance notice. If an athlete has a combination of three missed tests over the span of 12 months—either because he isn’t where he said he would be, because he gave the wrong information or because he didn’t update the information—it can be considered an anti-doping violation.

Athletes are responsible for submitting their whereabouts information quarterly, then updating it as necessary. In an interpretation of the rule that Wada applied to Coleman, his first missed test, on June 6, 2018, was backdated to the start of the quarter in which he missed the test—April 1—which put it outside of the 12-month window between that failure and his latest one, on April 26, 2019.

It was an interpretation of the rule that Usada did not initially anticipate, and one that will be eliminated when the Wada code is revised for 2021.

And though Usada does not discuss ongoing cases in public, because this one got leaked to the media, and because Coleman subsequently commented on it, it freed up Usada to explain its side of the case.

“In this case, we applied the rules to Mr. Coleman in the manner that Usada understands should be applied to any other international-level athlete,” Usada CEO Travis Tygart explained.

Most fans probably won’t delve into the minutiae of this issue, but will see the words “Doping” and “Track” in the headlines and think “nothing new there.”

For the better part of 10 years, Bolt shifted that focus— even deflecting away inevitable questions about his own clean doping record with a smile, or by earnestly taking umbrage at the mere suggestion—and placed it squarely on the track, where his light all but blinded everyone from this sport’s ever-growing laundry list of warts and imperfections (Remember, the Russian doping scandal began as a track and field issue, and barring an unexpected move by track’s governing body this week, Russians will compete as neutral athletes with their track federation still under suspension).

Now that Bolt is gone, the top 2 contenders in Saturday’s 100-meter final are expected to be Coleman and defending champion Justin Gatlin, a 37-year-old who has been suspended twice for doping violations and whose victory at worlds in London in 2017 was greeted with skepticism from the media and boos from the stands.

“I know you have to have the black hat and the white hat, but guys, c’mon,” Gatlin said after his victory, in responding to the booing and the harsh questioning that accompanied the win.

Can any sprinter—whether declared innocent, or insistent that he’s changed his ways—get a clean start in a sport that demands exactly that?

Maybe Coleman’s trip to Doha, with less than a year to go before the 2020 Olympics, will offer some sort of answer. AP

“But there are simply times when there are no other options to maintain your livelihood.”

The Colombian Cycling Federation estimates there are over 5,000 professional cyclists trying to eke out a living in the country.

In recent years, the most vocal proponent of clean cycling in Colombia was Manzana Postobon. During the team’s 13-year history its management made a point of promoting its self-described commitment to “ethical cycling,” becoming the first squad to institute biological passports to try and ensure their riders competed clean.

It didn’t work.

In May, Postobon folded after two of its riders tested positive for banned substances, triggering the team’s suspension.

“There has been a series of impatient cyclists that have made this mistake [of doping],” said Luis Fernando Saldarriaga, who was Manzana Postobon’s team manager. “Sponsors invest in their brands so that they are well represented ethically, not for their names to be stained by a series of doping cases.”

Colombia’s sporting institutions have also found themselves restricted in the fight against doping—such as by being left without a functioning anti-doping laboratory.

Since the World Anti-Doping Agency’s intervention, samples have had to be sent abroad to be tested. The anti-doping office says it can only afford to maintain a testing pool of 22 cyclists it has concerns about.

Orlando Reyes, the anti-doping office’s program manager, also claims the information provided by the Colombian Cycling Federation on the whereabouts of targeted cyclists is either inaccurate or arrives too late.

“You need very precise information or when you go to test an athlete you won’t find them,” said Reyes. “A lot of resources are wasted in a missed test.”

Yet, there are indications that help is finally coming.

In May, Sports Minister Ernesto Lucena announced a plan to get the Bogota laboratory reaccredited. He is also working to draft new language for the penal code to outlaw the trafficking of performance-enhancing drugs.

“If that law is approved you can be assured that [doping] will disappear,” said Jorge Ovidio Gonzalez, who was president of the Colombian Cycling Federation until he stepped down at the end of August for health reasons. “We can detect those who sell [performance-enhancing drugs] but we don’t have the teeth to be able to sanction them.”

Instead of waiting for change within the sport’s governance, a small cadre of coaches and cyclists around the country continue to push the merits of clean sport.

One is Wilson Sandoval, the manager of a youth team based in Bogota.

His team, Fundación Esteban Chaves, requires any aspiring cyclist who wants a tryout to take a doping test.

He said it’s not uncommon for cyclists as young as 15 “to fall into the trap of doping.”

As the wait for action from local authorities continues, those like Sandoval are left to try and find their own way through a Colombian cycling landscape littered with failed doping tests.

“I believe change can happen,” said Sandoval. “But you have to start with the youth and show them there is another path because in the end it’s these children who will be harmed.”

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Business

Tuesday, September 24, 2019

ROMERO IN FORUM

Israel qualifies for Olympic baseball for the first time.

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HE Philippine Sportswriters Association (PSA) Forum holds a special session on Tuesday with NorthPort team owner, House Deputy Speaker Rep. Mikee Romero (1-Pacman), as the exclusive guest at the Amelie Hotel in Manila.

Romero will discuss the country’s hosting of the 30th Southeast Asian Games polo competitions through the United Polo Players Association’s (UPPA), the sport’s national association where he is chairman emeritus.

Romero is gracing the weekly forum for the first time since winning a second term as representative of 1-Pacman party-list.

The session—presented by San Miguel Corp., Braska Restaurant, Amelie Hotel and the Philippine Amusement and Gaming Coirp.—starts at 10 a.m. and is livestreamed via the PSA Facebook page fb.com/PhilippineSportswritersAssociation and aired on a delayed basis over Radyo Pilipinas 2 from 1 to 2 p.m. and 6:30 p.m.

ISRAELI BREAKTHROUGH I

SRAEL qualified for the Olympic baseball tournament for the first time, with former major leaguer Danny Valencia hitting a threerun homer in an 11-1 eight-inning rout of South Africa on Sunday at Parma, Italy.

Israel earned the Europe/Africa berth and joined host Japan in the six-nation Olympic

event, to be played from July 29 to August 8 at Fukushima and Yokohama, Japan, as part of the Tokyo Games.

Valencia, 35, was released by Baltimore after the 2018 season. The nine-year big league veteran, who was born in Miami, obtained Israeli citizenship this year. He homered off Derek Baylis

in a four-run eighth inning.

The Israelis took a 4-0 lead in the second after losing pitcher Jared Elario loaded the bases on two walks and a hit batter with no outs. Garth Cahill relieved, Simon Rosenbaum had a sacrifice fly, Mitchell Glasser walked after the bases were reloaded and Blake Gailen hit a two-run single.

Federer, Zverev prevail as Europe retains crown

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ENEVA—After Roger Federer secured a must-win victory for Team Europe, Alexander Zverev ensured the Laver Cup was retained Sunday in a title-deciding supertiebreaker against Milos Raonic of Team World.

Zverev fired a cross-court forehand winner to clinch a 6-4, 3-6, 10-4 victory in the decisive singles match and give the Europeans a 13-11 win in points.

After Zverev fell to the ground in triumph,

he disappeared from view under a pile of celebrating teammates including Federer, Rafael Nadal and their captain Bjorn Borg.

Tennis great Rod Laver, for whom the event co-owned by Federer is named, presented the

Winning pitcher Joseph Wagman allowed one run and six hits in seven innings with six strikeouts and a walk.

The United States, managed by Joe Girardi, will attempt to qualify at the World Baseball Softball Confederation Premier 12 tournament.

The Americans start play from November 2 to 5

trophy to the Europeans, watched by the world team captained by John McEnroe.

“I played an unbelievable tiebreaker,” Zverev said. “I’m super happy and super thankful to Roger and Rafa and the rest of the team. Without them on the bench today, I couldn’t have done it.”

Two hours earlier, Federer had delighted a sold-out crowd of 17,000 in his home country by beating John Isner, 6-4, 7-6 (3), to set up the

at Jalisco, Mexico, in a group with the Dominican Republic, Mexico and the Netherlands.

The top 2 teams in the group advance to later rounds in Japan, which will produce two qualifiers.

Baseball is returning to the Olympics after being dropped for 2012 and 2016. Cuba won the gold medal in 1992, 1996 and 2004, the United

winner-take-all finale.

The European team also won the first two Laver Cup editions, played in 2017 in Prague and last year in Chicago.

Europe began Sunday leading 7-5 in a scoring system that gave one point for a win on Friday and two on Saturday. Victories in the doubles and each of three singles matches scored three points on Sunday.

States in 2000 and South Korea in 2008.

“Congratulations to the Israel Association of Baseball and the Israel national baseball team, which will make its historic Olympic debut at the Tokyo 2020 Games, as the top team across Europe and Africa,”World Baseball Softball Confederation President Riccardo Fraccari said.

Israel, currently No. 19 in the world rankings, upset several higher ranked sides, including recently crowned European champions the Netherlands and qualification tournament hosts Italy, currently 16th.

They also finished above Czech Republic and Spain in the six-team qualification event.

The Netherlands ended their competition with an 8-3 victory over Italy, while Czech Republic beat Spain 7-3 in the final game of qualifying. AP Nadal scratched from Europe’s intended lineup in both the opening doubles with Federer and the first singles due to an inflamed hand.

Isner and doubles specialist Jack Sock then beat Federer and Stefanos Tsitsipas 5-7, 6-4, 10-8.

Nadal’s replacement in singles, No. 5 ranked Dominic Thiem, was beaten 7-5, 6-7 (3), 10-5 by Taylor Fritz in a second straight match decided by the super-tiebreaker. AP

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Wisut Artjanawat is the frontrunner in the Philippine Golf Tour Asia Order of Merit.

SPOTLIGHT ON THAI

Blue Eagles, 2 others in quarters

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teneo, Cignal and Sta. Elena rolled past their respective rivals in varying fashions to clinch berths in the quarterfinals of the 2019 Spikers’ Turf Season 4 Open Conference at Paco Arena in Manila last Sunday.

Chumason Njigha pumped in eight points in the decider to lift the Blue Eagles to a scary 19-25, 25-21, 25-18, 21-25, 15-8 victory over the upset-seeking Easytrip Road Spikers to gain the top seeding in Pool B with a 4-0 record.

The 6-foot-3 middle blocker finished with 25 markers, highlighted by 15 attack points.

He knocked down three straight hits to give Ateneo an early 3-1 edge in the fifth and the Blue Eagles held sway to post the victory capped by Njigha’s last two points.

Ron Medalla added 17 points while Sebastian Cuerva and Luis Ligot chipped in 11 and 10, respectively. Cuerva also tallied 10 excellent receptions and nine digs, while Lance De Castro produced 20 receptions for the fancied Eagles.

Mardy Galang scored 16 points for Easytrip, which slipped to 2-2.

The Cignal HD Spikers, meanwhile, dominated the Volleyball Never Stops (VNS)

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TIM CONE accepts another tour of duty for the national team.

By Ramon Rafael Bonilla

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eteran Coach Tim Cone agreed to serve as the new head coach of the national team program for the 30th Southeast Asian Games, Samahang Basketbol ng Pilipinas (SBP) President Al Panlilio confirmed on Monday.

Cone, coach of Barangay Ginebra with 21 Philippine Basketball Association titles across his name, took over Yeng Guiao, who immediately resigned after the country’s winless campaign in the recent China Fiba World Cup. “I spoke to Tim Cone last Saturday and he expressed interest. But he wanted to finish his game last night and talk to his family first,” Panlilio said. “Now I’m very happy to announce that Coach Tim has officially accepted the role as head coach for the Gilas Pilipinas Men.” Cone’s mission is to win the Philippines’s 18th SEA Games gold medal in men’s basketball with a team composed of collegiate standouts who make up the young pool for the country’s cohosting of the 2023 Fiba World Cup.

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fter an impressive run last conference, Cignal marches back to warzone against PLDT Home Fibr in the opening salvo of the Philippine Super Liga (PSL) Invitational Conference on Tuesday at the Bacoor Strike Gym in Bacoor City.

Action starts at 6 p.m. with the HD Spikers riding the crest of its championship run in the AllFilipino Conference of the women’s club league.

Also seeing action are Marinerang Pilipina, which takes on Generika-Ayala at 2 p.m., and Foton, which collides with Sta. Lucia in the 4 p.m. second game of the explosive

MARGIELYN DIDAL is a favorite for the gold medal.

Skippers in D-League Finals

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ARINERONG Pilipino submerged Technological Institute of the Philippines (TIP), 96-79, to sweep its way to the Philippine Basketball Association Developmental League Foundation Cup Finals on Monday at the Paco Arena in Manila.

Byron Villarias buried seven 3-pointers

for the Skippers to finish with 25 points, including eight in a decisive 17-0 run that turned a slim 61-58 lead to a 78-58 edge to end the third period.

Jhonard Clarito produced 13 points, three rebounds and three assists, while William McAloney supplied 11 points

Panlilio, however, clarified that Cone’s tour of duty will cover November 30 to December 21 when the country hosts the SEA Games at the Mall of Asia Arena.

“The resolution of our head coach situation should signify the start of our SEA Games preparations because the other countries like Indonesia are already putting in the work,” Panlilio said.

“We also want to reiterate that we’re taking it one step at a time and this arrangement is for the SEA Games only—for now. We’re still putting together a plan on how to move forward with our preparations for 2023 and beyond,” he added.

Cone coached the national team to the bronze medal in the 1998 Bangkok Asian Games.

and seven boards for the Skippers. Santi Santillan had 10 points.

“We’re happy to be in the finals but we will be happier if we win the championship,” said Coach Yong Garcia as Marinerong Pilipino made its first-ever finals appearance.

The dam eventually broke in the payoff period as Skippers enjoyed a lead of as high as 28 points, 92-64, following a Jordan Rios’s bucket with 6:36 left to play before cruising to the 17-point win, their ninth straight this conference.

“From the management, staff and players, everybody gave his all for this one,” Garcia said.

Marinerong Pilipino now awaits the winner between Centro Escolar University and BRT Sumisip Basilan-Saint Clare in the best-ofthree title bout.

Christian Daguro paced the Engineers with 17 points, four rebounds and two assists.

Senegalese big man Papa Ndiaye had 16 points, six rebounds, four assists and two blocks, as Guilber Carurucan supplied 15 points and six assists for TIP.

LEAGUE BACKER

Volleyball Club Griffins, 25-20, 25-19, 25-16, to, likewise, advance to the next phase with a similar 4-0 slate in Pool A. Ysay Marasigan banged in 16 points while Rex Intal added 10 markers for the HD Spikers, who also drew nine markers from Marck Espejo, who added seven excellent digs, and 20 excellent sets from Vince Mangulabnan in just three sets of play.

Jeremy Merat came up with eight points for VNS, which took its first loss in three matches.

Earlier, Nico Almendras and Edward Camposano fired 20 points apiece to power the Sta. Lucia Ball Hammers past the University of Santo Tomas Spikers, 25-12, 23-25, 25-21, 3129, to secure a spot in the next round in Pool D with a 3-0 mark.

Joshua Retamar anchored Sta. Elena’s superb offense with 26 excellent sets and added 10 excellent digs, while Banjo Mondero chipped in 12 markers and 17 excellent digs for Sta. Elena.

Lorenz Senoron, Genesis Redido and Wewe Medina hit 12 points each for UST, who closed out with a 2-3 card, enabling Navy to gain outright spot in the quarters, also with a 3-0 card.

PSL invitational volleyball tilt on

CONE TO COACH SEAG TEAM

Red Lions eye Final 4 berth an Beda tries to formalize its entry in the Final Four when it takes on San Sebastian College in the National Collegiate Athletic Association Season 95 seniors basketball tournament on Tuesday at the FilOil Flying V Centre in San Juan City.

Unbeaten in 12 games, the Red Lions would mathematically earn a spot in the semifinals if they hurdle the Stags (7-4 won-lost) at 12 noon and the Letran Knights (8-4) beat the College of Saint Benilde Blazers (6-5) at 2 p.m.

If the defending champion Red Lions beat the Stags, it would be their 13th straight Final Four appearance.

Coach Boyet Fernandez, however, isn’t pleased with just a plain semifinals spot.

“I’m telling my boys that we haven’t achieved anything yet. We still have to win more games because we want to get in the top 2 for the twice-tobeat advantage [in the semifinals],” Fernandez said.

The Red Lions made quick work of the Jose Rizal University Bombers, 6547, last Thursday.

Most Valuable Player front-runner Calvin Oftana, James Canlas and Cameroonian Donald Tankoua are expected anew to deliver the goods for San Beda.

Coach Egay Macaraya, on the other hand, has Allyn Bulanadi as his main man alongside RK Ilagan, Alvin Capobres and JM Calma.

The Stags bowed to the Knights, 8299, last Friday to slip to their fourth loss for solo fourth spot in the standings.

Letran, meanwhile, tries to stay in afloat in the tight race for a Final Four seat when it battles Saint Benilde.

“We treat every game like a championship game,” Letran Coach Bonnie Tan said after their recent victory that blew off the memory of a doubleovertime loss to Mapùa on September 13.

Mapùa (5-6) and Arellano University (3-9) clash in the third game at 4 p.m.

Ramon Rafael Bonilla

isut Artjanawat sets out as spearhead of a crack Philippine Golf Tour Asia contingent bracing for a fierce duel with the top guns of the Professional Golfers Association of Taiwan, eyeing no less than a sweep of the two PGTA events in Taiwan in the Nan Pao TPGA Open beginning on Thursday in Tainan City.

The Thai veteran overcame a huge six-shot deficit in the final round and beat local ace Song Mengyu by two in the Daan TPGA Open in Taichung last May, breaking the Taiwanese domination of the annual event while earning the tag as winner of the first PGT Asia event held overseas.

Although he struggled to finish joint 31st in the last PGT Asia tournament at Aboitiz Invitational at Wack Wack three weeks ago after a tied for eighth effort at Manila Southwoods last July, the 33-year-old Artjanawat hopes to put it all together again this week in a bid to dominate the Taiwan tournaments in the third season of the region’s emerging circuit put up by the International Container Terminal Services Inc. As front-runner in the PGTA Order of Merit derby, Artjanawat also heads a talent-laden roster of PGTA campaigners in the $100,000 event cosanctioned

by TPGA and Pilipinas Golf Tournaments Inc., including No. 3 Namchok Tantipokhakul, No. 7 Teemu Putkonen of Finland, No. 8 Kammalas Namuangruk and ninth-ranked Tony Lascuña.

Like Artjanawat, Tantipokhakul is gunning for a second PGTA win this year after ruling the kickoff leg at Luisita last April with Piya Swangarunporn, Poosit Supupramai, Pasavee Lertvilai, Ratchapol Jantavara, Panuwat Muenlek, Atthaphon Sriboonkaew, Sutijet Kooratanapisan, Natthapoing Niyomchon, Peradol Panyathanasedh, Tawit Polthai, Puk Pradittan, Bouahom Thammasack, Choowong Wongsakorn and Sakulyong Pachara completing the big Thai cast in the 72-hole championship backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High.

Aussie David Gleeson, who topped the PGTA Luisita Championship last year but has had a string of so-so finishes, is also aiming for a top finish in the event serving as the fifth leg of the PGTA and sixth stop of TPGA, along with Canadian Lindsay Renolds, Zhuang Dahong of Brazil, South African Luke Trocado, Korean Shin Seung Woo, Abiel Lim of Singapore and another Pinoy entry Jay Bayron, who tied for 27th in Daan TPGA Open.

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opening triple-header.

The opening ceremony, meanwhile, is set on Saturday at the Ynares Sports Arena in Pasig City.

With a powerful roster composed of FilipinoAmerican setter Alohi Robins-Hardy and veteran Jovelyn Gonzaga, Rachel Anne Daquis, Mylene Paat and Jheck Dionela, the HD Spikers made heads turn when they dethroned Petron and coasted all the way to the finals of the All-Filipino Conference last month.

Although it fell prey to a more seasoned, more fluid F2 Logistics squad, Cignal still made a strong statement that it is ripe to finally with the title.

And Daquis admitted that there is pressure entering this brand-new conference.

“Yes, there is pressure. It will always be there,” said the comely skipper, who also serves as league ambassador. “But we’re not letting that pressure get into our heads. We’re just focused on one goal and that is to win the championship.”

Daquis added that their title run served as a major boost to their morale.

“Coming from a successful run in the All-Filipino Conference, the experience made us realized that we could do anything for as long as we put our hearts and minds into it,” she said.

True enough, the HD Spikers are more experienced and more matured coming into the Invitationals.

Gonzaga, Paat, Robins-Hardy and Roselyn Doria, in fact, are coming off a successful stint in the first leg of the Asean Grand Prix in Nakhon Ratchasima, Thailand, giving them the exposure they badly need while the league was on a break.

The Philippines lost a pair of matches to Indonesia and Thailand, but managed to eke out a five-set conquest of Vietnam to bring home a bronze medal.

With that in mind, PLDT Coach Roger Gorayeb admitted that they would be cautious against the HD Spikers, as well as other league heavyweights like Petron and F2 Logistics.

DIDAL LEADS SKATEBOARD CAMPAIGN IN SEA GAMES

kateboarding in the Philippines catapulted to prominence when Margielyn Didal captured a gold medal in the 2018 Indonesia Asian Games.

Didal’s brilliance will certainly rub off to the rest of the national skaters as they seek to rule the skateboarding competitions in the 30th Southeast Asian Games from November 30 to December 11.

Skateboarding and Roller Sports Association of the Philippines President Monty Mendigoria refuses to predict how many medals his athletes could reap in the Games, but stressed everyone on the team are pumped up for the competitions set in a new park in Tagaytay City.

“We have a strong chance because we are considered a powerhouse in Southeast Asia,’’ said Mendigoria. “But of course we have to work really hard.”

Eight gold medals are at stake in skateboarding’s street event, game of skate and downhill both in the men’s and women’s categories.

Filipino-Americans Christiana Means and Jericho “Kiko” Francisco and eight others are joining Didal in the national team.

Mendigoria, however, refused to identify the other members of the team until the deadline for the submission of entries by names at the end of this month.

AXA Philippines is the insurance provider of the University Athletic Association of the Philippines (UAAP), providing coverage for the league for the duration of Season 82. Shown are AXA Philippines Chief Customer Officer Amor Balagtas (from left); President and CEO Rahul Hora; UAAP Season 82 President Emmanuel Fernandez; and Executive Director Rene Andrei Saguisag Jr.

By Jim Armstrong

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The Associated Press

INGAPORE—Ferrari driver Sebastian Vettel took advantage of an early pit stop to win the Singapore Grand Prix on Sunday and end a 13-month winless streak in Formula One. Vettel, who started third on the grid, crossed the finish line 2.641 seconds ahead of Charles Leclerc—who was unhappy with team pit strategy—in a Ferrari 1-2.

It was four-time F1 champion Vettel’s first win since the 2018 Belgian Grand Prix.

“Obviously the start of the season has been difficult for us but in recent weeks we started to come alive,” Vettel said. “It’s been incredible to get so much support from the fans and I tried to put it all into the track today and into the car and I’m glad it paid off.”

Red Bull’s Max Verstappen was third while championship leader Lewis Hamilton was fourth.

With six races remaining, Hamilton holds a 65-point lead over Mercedes teammate Valtteri Bottas, who finished fifth. The winner of each race gets 25 points.

It was Vettel’s fifth victory under the lights in Singapore and ended a 22-race winless streak.

Leclerc started from pole and held the lead at the 5-kilometer Marina Bay street circuit until he pitted on the 21st lap of the night race. When Leclerc rejoined, he was behind Vettel, who had pitted a lap earlier.

Leclerc made it clear over the team radio that he was not happy that Vettel pitted first and got the lead.

Vettel said he received the call from his team to pit and it wasn’t his decision.

“It was a very late call,” Vettel said.

VETTEL SNAPS WINLESS RUN Sports BusinessMirror

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| Tuesday, September 24, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

“I thought it was a bit early because I wasn’t sure we can make the tires last in the second stint but, yeah, then I just gave it everything in the outlap because I saw the two cars in front of me not pitting, especially Lewis. I was then very surprised a lap later to come out ahead.”

Leclerc, who won the previous two races and appeared set for a third straight victory, was diplomatic later when asked about the pit strategy of Ferrari.

“It’s always difficult to lose a win like that but in the end it’s a 1-2 for the team,” Leclerc said. “We arrived here hoping for a podium and come back with a 1-2 so are extremely happy.”

During the race, Leclerc had a different take when he was told to save his engine 15 laps from the finish. His response to Ferrari included: “I just don’t think it’s fair, but I won’t do anything stupid.”

Red Bull’s Alexander Albon was in sixth place and Lando Norris finished seventh for McLaren, ahead of Toro Rosso’s Pierre Gasly.

Renault’s Nico Hulkenberg was ninth and Alfa Romeo’s Antonio Giovinnazi rounded out the top 10.

FERRARI’S Sebastian Vettel of Germany sprays sparkling wine to his team member on the podium. AP

FIFA: IRAN ‘ASSURES’ LIFTING BAN ON WOMEN IN QUALIFYING GAME

P FIFA President Gianni Infantino: There is women’s football in Iran but we need Iranian women as well to be able to attend the men’s game. AP

Tonga’s cancer beater gets his moment at Rugby World Cup

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APPORO, Japan—There were times not long ago when Nasi Manu was too sick and weak from the chemotherapy to walk up the steps at a stadium and watch a game of rugby. On Sunday, he played in a Rugby World Cup match.

Manu got his moment off the bench in Tonga’s opening game of the World Cup against England in Sapporo.

Tonga lost 35-3 but got some inspiration by seeing the loose forward come off the bench to complete his recovery from testicular cancer that saw him undergo emergency surgery, months of chemotherapy and miss all international rugby last year and most of this season.

It was Manu’s first game back for Tonga since his cancer diagnosis and his wife and two-year-old daughter came to Japan to watch him.

“The whole day has been very difficult for me, just controlling the nerves,” Manu said. “I couldn’t sleep last night, I just got too excited. I was telling my wife that I didn’t know what to do. I packed my bags five times.”

Manu shed tears at a welcoming ceremony for the Tongan team at the World Cup last week. He said the tears flowed after he realized how far he’d come from last year, when he was fearing for his life and his rugby career was secondary.

There were more when he lined up and sang Tonga’s national anthem on Sunday.

“They were plenty of them, but then I had to calm down,” he said.

Tonga Coach Toutai Kefu said he’s planning to give Manu a gentle introduction back to international rugby and manage his game time.

“We all knew as a group that this was important for him,” Kefu said. “I just had a chat to him and he said he was very tired, he needed more game time, and his lungs were gone.

“But I reassured him, I said ‘Mate, you’re lucky to be back out on the field.’ I think that’s the first step.

“But knowing Nasi, he’s a very competitive person and he wants to give 100 percent,” Kefu said. “He’s a good player on and off the field. An important member for us.”

Manu said his “legs were gone” and he had to battle it out to play the rest of the 33 minutes he was on the field.

“No fitness can prepare you for that. I have achieved my dream of playing in a World Cup whatever happens and I have so many people I can thank for getting me here.

“I can’t say names because I am afraid I will miss some out.”

Some of the people Manu has already thanked are his teammates at Italian club Benetton Treviso who shaved their heads in support of him when he was undergoing chemotherapy and sent him cell-phone videos to keep his spirits up. His club also helped him get treatment. AP

ARMA, Italy—Fifa has been “assured” that Iran will lift its 40year ban and allow women to attend a World Cup qualifying game next month.

Soccer’s governing body wants Iran to end its ban on women entering stadiums that breaches international soccer statutes prohibiting discrimination.

Global attention on the ban followed the death this month of a 29-year-old activist, Sahar Khodayari, who set herself on fire outside a courthouse. She had been detained for dressing as a man to enter a soccer stadium in Tehran and faced six months in prison.

“There is women’s football in Iran but we need Iranian women as well to be able to attend the men’s game,” Fifa President Gianni Infantino said in a speech at a conference on women’s football on Sunday. “And we need to push for that with respect but in a strong and forceful way. We cannot wait anymore.

“We have been assured, that as of the next international game of Iran, women will be allowed to enter football stadiums. This is something very important, it is 40 years that this has not happened, with a couple of exceptions, but it is important to move to the next level and to the next stage.”

Fifa sent an inspection team to Iran this week to meet government and soccer officials ahead of Iran’s match against Cambodia at the

78,000-capacity Azadi Stadium on October 10—its first home match of the 2022 qualifying competition.

Infantino’s comments drew praise from United States outgoing Coach Jill Ellis, who was at the same Fifa conference in Milan, two months after leading the American women’s team to a second successive World Cup title.

“I think it’s huge,” Ellis said. “Fifa has enough of a pull and ability to influence change and I think it’s absolutely the right thing. I mean I don’t think there should be any discrimination period and to not allow women to go see football I think is, I just can’t even wrap my brain around it in terms of it being something. I think if Fifa can influence that, I think it’s great.”

Infantino labeled the situation of racism inside Italian soccer stadiums “very serious” following the latest incident of offensive chants.

A 2-2 draw between Atalanta and Fiorentina on Sunday was suspended briefly during the first half due to racist chants.

The referee ordered a warning to be read over the stadium’s loudspeaker after the chants were apparently made by Atalanta fans toward Fiorentina fullback Dalbert Henrique, a Brazilian player who is black.

Toward the half-hour mark, Dalbert stopped and glared at the direction where the chants appeared

Tonga’s Sam Lousi is held aloft as he wins a lineout during their Pool C game at Sapporo Dome against England on Sunday. AP

to come from, and he then spoke to the referee.

The address over the loudspeaker, warning that the match would not resume until the chants stopped, was met with whistles from the crowd.

Once the crowd calmed down, the match resumed after a break of several minutes.

Inter Milan’s Romelu Lukaku and AC Milan’s Franck Kessie have also been targeted this season but no club has been punished by the league judge.

“Racism is combatted with education, condemnation and discussion,” Infantino, head of world soccer’s governing body Fifa, said on Italian state TV RAI. “You can’t have racism in society or in

football. In Italy the situation has not improved and this is very serious. You need to identify those responsible and throw them out of the stadiums.

You need, as in England, the certainty of the penalty. You can’t be afraid to condemn racists, we need to combat them until they stop.”

Atalanta fans have been accused of racism before.

Last year, Borussia Dortmund striker Michy Batshuayi questioned if UEFA cared about tackling racism after European soccer’s governing body rejected his complaint that the Bergamo club’s fans subjected him to abuse during a Europa League game in Italy.

Coaches of both clubs Sunday vehemently insisted that they didn’t hear any offensive chants.

“I really didn’t hear these chants. I didn’t ask [Dalbert] anything either,” Fiorentina Coach Vincenzo Montella said. “I didn’t hear, to be honest, no.”

Montella was then asked if he condemned the incident.

“Come on, just because two people say something.... In every game I am on the receiving end of these things because I am from Naples,” Montella said, referring to territorial chants, which are also a problem in Italy. “What should I do? My answer is to always thank them for reminding me [that I am from Naples]. What should I do?” AP

All-powerful God

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EAR God, You bear us up in love and save us from death. In confidence we pray: Hear us, oh God. Heal those who have been impacted by death penalty, abortion and torture, and help us to build a culture of life. Rejoin families separated by war, disaster or immigration policies.

Shower Your transforming grace upon those who ease their suffering with opioids and advance efforts to heal addicts especially youth at risk. May the love of Christ dwell in our hearts through faith. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

THIS photo provided by Betsy Olmsted Design Studio shows some of the Saratoga Springs, New Yorkbased artist and designer’s designs.

Betsy Olmsted planned to become a naturalist. Now she translates that early passion for living things into a delightful collection of watercolor, gouache and ink drawings for table linens, pillows, wallpaper and fabric by the yard.

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Tuesday, September 24, 2019

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PHOTOS: AP

The look of hand-drawn art is hot in décor

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BY KIM COOK The Associated Press

AND-CRAFTED is popular these days, and many home decorators are looking for unique textiles and other furnishings that feature the look of hand-drawn art.

Items like the eclectic, playful wallpapers of Brooklyn-based artist Aimee Wilder, who designed for brands like DwellStudio, Martha Stewart and Vans before starting her own studio. She’s expanded the line beyond wallpaper to include rugs, pillows, fabrics and poufs, and collaborates with prominent design brands on showroom design and installations.

“I’ve been making graphic pieces since the early 2000s and I knew I wanted my own brand way back then,” Wilder recalls. “I just knew that my work was a good fit for home textiles, maybe filling a hole, since back then most interior stuff was pretty traditional or more globally inspired.”

In her Eudaimonia collection, named after a Greek word meaning happiness, she was interested in exploring how celestial bodies influence us. The moon’s phases are rendered in pastels and neutrals

in the Earthlight pattern, while Pyramid du Soleil is named after Mexico’s Pyramid of the Sun in Teotihuacan.

Fantastic sea creatures make their way to and from across her Mystic Lagoon wallpaper, an idea that came out of a trek through the Scottish Highlands. A trip to Indonesia was the jumping-off point for Bungalow, with exotic fruits and flora. And a line drawing Wilder received as a gift while collaborating with Los Angeles surf brand Mowgli Surf inspired her jaunty Swell wave print.

Another artist, Anna Bond of Winter Park, Florida, cofounded Rifle Paper Co., known for floral illustrations on stationery, wallpaper, home décor and fashion accessories. Bond’s made a series of gouache paintings of destinations around the US, including Chicago, New York and San Francisco.

Betsy Olmsted had planned to become a naturalist, but after majoring in art, studying in India, and getting a master’s degree in textile design, she translated that early passion for living things into a career as a designer with her own studio in Saratoga Springs, New York.

In her lighthearted watercolor, gouache and ink

drawings, a menagerie of foxes, hedgehogs, turkeys and other woodland creatures share the canvas with smatterings of flowers and leaves. She sells table linens, pillows, wallpaper and fabric by the yard. One of her unusual wallpaper patterns: Curio, on which glass cloches hold beautifully rendered mushrooms, coral, antlers and moths, all surrounded by fungi and flora detailed with a delicate touch. It resembles a naturalist’s notebook writ large, and one can imagine it in a nursery.

The founders of The Farmhouse Project, artists Shawn Lang and Kris Prepelica in Hortonville, New York, create detailed drawings of vegetables and botanicals, which are printed on stonewashed linen table goods. The napery has an authentic, historical charm that’s right on trend.

Fishs Eddy also offers dishtowels illustrated with pen and ink drawings, here of New York City bridges and tunnels.

And Brooklyn artist Claudia Pearson, whose work has appeared in children’s books and The New Yorker, has done a collection of tea towels available at West Elm that feature her quirky take on maps of cities all over the country. ■

THIS photo provided by artist Aimee Wilder shows one of her wallpaper designs. Wilder’s Eudaimonia collection was named after a Greek word meaning happiness. She was interested in exploring how the celestial bodies over Earth influence us, and the moon’s phases are depicted in this Earthlight pattern from the collection.

Create inspired living spaces with Grant Lim’s passion for design GRANT LIM sits in his office, running his hands across the surface of his table. “When I choose tiles,” he says, “I ask myself, ‘How does this make me feel?’”

He takes some sample tiles and considers their ridges, their dips and rises. “More than aesthetics, what draws me in is the feel of a piece and the inspirational moment that occasioned its creation.”

You can’t spend more than 10 minutes with Grant without getting a sense of his love affair with design.

He talks about his passion with an adoration one normally reserves for their favorite things.

It’s no surprise, then, that he’s made a career out of it. Grant is the founder and resident curator of Home Studio, a home and design mecca in San Juan that sells luxury furniture, authentic Italian tiles, quality lights, and high-end mattresses. The style acumen required for curating such an extensive array of unique and sophisticated items comes effortlessly to Grant, who has learned all about the Italian design philosophy throughout his years as an avid follower of design and the arts.

“My appreciation for design and architecture is an ongoing and continuous journey,” he says. “And this journey is what I want to share with my clients. I’m a people person, so I enjoy conversations with them. We both learn from each other.”

While personal home curators are usually

thought of as distant specialists, Grant’s keen eye for design is something all the shoppers at Home Studio can benefit from. When you walk into the impressive, three-story shop, he’s right there with you, talking you through every piece and helping fill in your vision.

“My choice of products is not dictated by trends, what’s in fashion or by popular brands,” says Grant.

“I go for products made by people who are driven by their values, products with soul. I especially like the ones that have rich stories attached to them. Stories always connect people.”

Of course, the stories are part of the experience.

No casual consultation with Grant will be complete if he doesn’t immerse you in his world. You’ll be looking at marble tiles, studying the natural cracks on their surface, and he’ll launch into an anecdote about Michelangelo, who carved the Statue of David from a slab of Carrara marble harvested from the recesses of modern-day Tuscany.

Every furniture piece, naturally, has a story, too.

One luxe tile, for example, was inspired by a twig on the road. One Piero Lissoni piece was modeled after a paper napkin he was using during morning coffee.

Hearing these stories elevates your perception of design. Suddenly, these inanimate objects become undeniably personal. “When a story’s involved,

there’s feeling involved,” says Grant. And when you’re selecting pieces for your home, feeling is important, anchoring your identity in something tangible and, yes, tactile.

Working with Grant is easy, too. “After getting the kind of aesthetic they’re into, I’ll come up with a short list of ideas and eventually show them the pieces in the store. If a piece makes their heart leap as much as mine, I know I’ve made a match,” he says.

Even though Home Studio is filled with unique, quality furniture sourced mostly from Italy, the illustrious names on the tags don’t take precedence over a client’s needs. In the end, it’s always about what fits their personality, budget and preference.

“We curate masterpieces for your home,” says Grant.

“We treat every space differently. We work hand in hand to make sure our clients’ vision is actualized and fine-tuned.”

With a sharp eye for home design and a talent for collaborating with clients, Grant is making home curation more personal than ever. And when it comes to his ardent passion, there’s more than enough to go around.

■ Home Studio is at 3 Connecticut Street, Greenhills, San Juan, Metro Manila. More information is available at www. homestudioinc.com.

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Pages BusinessMirror

Tuesday, September 24, 2019

www.businessmirror.com.ph

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Stephen King returns with ‘The Institute’

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By Rob Merrill The Associated Press

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Spencer Treat Clark, 32; Erin Chambers, 40; Nia Vardalos, 57; Kevin Sorbo, 61.

gifted children imprisoned there would spoil the story, but it’s classic King. The best scenes in the first half of the book are when the kids are talking with each other, trying to figure out where they are, why they’re there and eventually what to do about it. King has always had a great ear for childish conversation: “Have we been kidnapped?” Luke asks his new friends.

“Well, duh,” replies George.

“Because every now and then I walk into a room and the door closes behind me?”

“Well, if they were grabbing people for their good looks, Iris and Sha wouldn’t be here,” says George, as Kalisha chimes in with “Dinkleballs.”

The second half of the book hinges on the kindness of a couple of adults as Luke begins to figure out what’s happening to him and his friends.

King fleshes out the supporting characters nicely and there’s a “Rocky versus Drago” feel to it as you really begin to root for the kids and their sympathetic grown-ups.

Anyone who avoids King because they don’t like “horror” novels will be safe reading this one. It’s more mystery than horror, with the evil concentrated on inhumanity. There’s no bloody gore or supernatural forces, just adults treating children horribly. As the book climaxes and then reaches its resolution, you’ll have to decide for yourself if the good or the bad guys win. n

HE kids are all right again— in Stephen King’s world.

Not since part one of It or his short story The Body, which became the Stand by Me film, has King based a story almost entirely around the lives and fears of young people.

The protagonist of The Institute (Scribner) is a hyper intelligent 12-year-old named Luke Ellis. “Your basic good boy, doing what he was told,” King writes, “the guy who went out of his way to be social so people wouldn’t think he was a weirdo, as well as a brainiac.” Snatched from his Minneapolis bed one night, Luke wakes up in a replica of his room with a few details missing. One of the giveaways? His collectible “Wings for Willkie” 1940 presidential button is missing from inside the cup of his Little League trophy.

Just pages later Luke is face-toface with the villains of King’s story, a buttoned-up Mrs. Sigsby (we later learn her first name is Julia and she’s the chief administrator of the Institute) “wearing a tailored DVF business suit that did not disguise her beyond-lean build,” and Dr. Hendricks, “with his protruding front teeth and extreme height,” earning him the nickname “Donkey Kong.”

To say any more about what the Institute is or what happens to the

Author series features short fiction, poetry of 3 authors THE UST Center for Creative Writing and Literary Studies (UST CCWLS), in cooperation with the UST Publishing House (USTPH), held a roundtable discussioncum-book launch, titled “Yugto: Ang Iba’t Ibang Kabanata ng Pag-akda,” as part of its UST Author’s Series at the Tanghalang Teresita Quirino, Benavides Building, University of Santo Tomas.

Featured were the latest work of the UST CCWLS’s Director Cristina Pantoja-Hidalgo, titled Collected Stories & Tales (USTPH 2019); the debut collection of short fiction

by UST CCWLS Resident Fellow John Jack

G. Wigley, titled Hantong: Mga Kuwento (USTPH 2018); and the second poetry compendium of UST CCWLS Resident Fellow Paul Alcoseba Castillo, titled Walang Iisang Salita. (USTPH, 2018).

Hidalgo is the author of more than 40 books, including three novels, six short story collections, 14 nonfiction collections and four works of literary commentary.

She has won, among many other awards, the Gawad Pambansang Alagad ni Balagtas from the Unyon ng mga Manunulat sa Pilipinas, the Don Carlos Palanca Memorial Awards Grand Prize for

her novel Recuerdo, a number of National Book Awards from the National Book Development Board, and the Parangal Hagbong (Lifetime Achievement Award) from the UST Varsitarian where she served as literary editor and editor in chief.

Wigley is the author of two memoirs and two collections of humorous essays.

He has won the Gawad San Alberto Magno (Best Book) of the 15th Dangal ng UST Awards for Falling Into the Manhole (USTPH, 2012).

Castillo’s first book of poetry, “Pananangan” (Librong Lira, 2016), won the

First Prize of the Poetry in Filipino category of the 2018 Don Carlos Palanca Memorial Awards for Literature.

The UST Author’s Series consists of conversations and lectures by the Resident Fellows and Associates of the UST CCWLS who have recently published books of poetry, fiction, creative nonfiction, drama, or literary and cultural criticism.

This bi-annual regular program of the center aims to showcase the most recent works of the members of the UST CCWLS for the benefit of both the Thomasian community and the general reading public.

Chinkee, Nove-Ann launch new book on managing money BEST-SELLING author Chinkee Tan and wife Nove-Ann have a new book to help husbands and wives manage their money and avoid financial stress, titled Pera ni Mister, Pera ni Misis, published under ABS-CBN Books.

“It’s very hard to be transparent about money. The goal is not to fight over money, and that’s why we made this so that it will be easier not just for couples but also for singles to be prepared to deal with money once they

get married,” said Nove-Ann. In the book, the wealth coach and his wife of 20 years addressed the issue on why couples must talk about financial woes.

“Marital problem is really painful and costly,” Chinkee said. The authors identified key factors that affect families’ finances—including budgeting poorly, acquiring debts, lending money to relatives and awful spending habits.

They said that couples have to work together in saving up and achieving their financial dreams.

Aside from money management, the authors—who first collaborated on the book Happy Wife, Happy Life— also cited the 10 commandments to a happy marriage, compiling the lessons they learned together in the past two decades and the ones they witnessed from other couples.

Chinkee and Nove-Ann join the

exciting roster of authors under ABS-CBN Books. The publishing arm of media giant ABS-CBN continues to bring the brand experience in print with its extensive fiction, nonfiction, movie-based, self-help and inspirational reads.

Check out the practical tips from the inspiring Tan couple in Pera ni Mister, Pera ni Misis, available in leading bookstores and newsstands for only P190.

Happy Birthday: Focus on what you can do to make your life better. Don’t limit yourself because of what someone else is doing. Hone your skills and concentrate on making changes and moves that will help you release stress and replace it with positive thoughts. You fare much better mentally, emotionally and physically when you feel at peace. Your lucky numbers are 4, 9, 21, 23, 26, 34, 42.

a

ARIES (March 21-April 19): Refuse to limit what you can do because someone makes you feel insecure or stands in your way. Where there’s a will, there’s a way to overcome any obstacle you encounter. Don’t give away your plans or your secrets. Listen and observe. HHH

b

TAURUS (April 20-May 20): Change is heading your way, but it’s up to you to embrace it and to make the most of whatever unfolds. Use your tenacity to bring about what you want to see happen. Stand your ground and make your point heard. HHH

c

GEMINI (May 21-June 20): Get out and mingle.

Whether it’s a work event or socializing, the people you talk to will spark your imagination.

The offer you least expect will turn out to be intriguing. It never hurts to take a look at something new. HHHH

d

CANCER (June 21-July 22): Listen carefully and do your own thing. As long as you take care of your responsibilities first, you will find it easier to serve your needs and accomplish your personal goals, regardless of what others want. HH

e

LEO (July 23-Aug. 22): Keep life simple.

Think matters through. Don’t get caught up in someone else’s dilemma or poor choices. Overreacting, overspending and overdoing will lead to a dispute that can damage your reputation or a relationship that is important to you. HHH

f

VIRGO (Aug. 23-Sept. 22): Look at your options and follow through. Use your experience to make better choices.

Partnerships are favored as long as you can work out the fine but important details that will ensure equality.

Personal improvement is favored. HHH

g

LIBRA (Sept. 23-Oct. 22): Don’t give in to demands. Use your intelligence to come up with a workable solution. Letting others push you around or missing out on something you want to do to appease someone will only add to your stress.

HHH

h

SCORPIO (Oct. 23-Nov. 21): Interact with people you find creative and stimulating or who spark your imagination to help you make a change that will improve your life. Someone who owes you a favor will offer something in return. Love is on the rise. HHHHH

i j

SAGITTARIUS (Nov. 22-Dec. 21): Keep your emotions under control. If you let your feelings dictate what you say, you will speak out of turn and give someone the wrong impression.

Truth should be put first. HH CAPRICORN (Dec. 22-Jan. 19): Don’t go to battle with someone over something you know little about. Put your effort into keeping the peace and getting things done. It’s what you accomplish that will bring you the response you are looking for. HHHH

k

AQUARIUS (Jan. 20-Feb. 18): Follow through with your plans and don’t let anyone stand in your way. If someone tries to push you in a direction that doesn’t sit right, be brave and walk away. Trust your instincts and do what feels right.

HHH

l

PISCES (Feb. 19-March 20): Express how you feel and what you want to see happen.

An open dialogue will bring you one step closer to getting what you want as long as you are willing to compromise. It takes two to tango. HHH Birthday Baby: You are energetic, smart and unpredictable.

You are innovative and determined.

‘marketing gimmick’ by morton j. mendelson The Universal Crossword/Edited by David Steinberg

ACROSS 1 Implied but unspoken 6 Irritating person 10 (I’m shocked!)

14 Pueblo building material 15 Gives a hand to 16 Morales of La Bamba 17 Often-blue fabric 18 “Doing OK, thanks” 20 Sale on a featured dish?

22 Judy Woodruff’s network 25 Sch. in the Granite State 26 Shave ___ (Hawaiian treat) 27 Sales plan to attract building managers?

33 Hockey venues 34 Derbies and berets 35 Lil Tecca genre 37 They may be bald-faced 38 Become a better half 39 Smoothie green 40 Like the emoticon >:-< 41 Natural salve 43 Hip spot 45 Sales pitch for ski jackets?

8 Fertility lab needs 4 49 Beehive State native 50 Author Tolstoy 51 Failed sales campaign for boring textbooks?

57 “Tell me more!”

58 Some graduate tests 62 French resort with a pleasant-looking name 63 What may mark a passage?

64 Morocco’s capital 65 Hidden valley 66 Snow day ride 67 Really sticky stuff DOWN 1 Just a ___ (slightly) 2 Suffix for “orange” 3 Downside 4 Nile bird 5 Deep-fried Japanese dish 6 Meditative martial art 7 Hotel amenity that’s often passwordprotected 8 What’s produced upstairs?

9 Creator of “J. Alfred Prufrock”

0 The “G” of DreamWorks SKG 1 11 “Oh, su-u-ure!”

12 Rational 13 Cruise starting point 19 Place, formally 21 Pulls the plug on 22 One of 150 in the Bible 23 Treasure chest’s destiny, perhaps 24 Olympic divers’ brand 28 Tennis pair?

29 Satin feature 30 Despicable dude 31 Visit the Caribbean, say 32 Teardrop descriptor 36 Pine nut sauce 38 “Awesome!”

39 Airline in the alphabet 41 Ibuprofen brand 42 Substitute vehicles 43 Cocktail hour spread 44 Many a fixer-upper 46 Like some warm blankets 47 Puckered 51 Zest 52 Oscar winner Jannings

3 Kentucky Derby, e.g.

5 54 Curly pug part 55 One-named Harper’s Bazaar artist 56 Sand ___ (golf hazard) 59 Blood bank letters 60 SoCal hub 61 Piglet’s home

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Tuesday, September 24, 2019

JUDGE WON’T RETURN R. KELLY BOND MONEY TO WOMAN WHO PAID IT

THE big-screen encore of Downton Abbey debuted with $31 million in ticket sales in North America, according to studio estimates on Sunday, royally trumping the $19.2-million opening for Ad Astra and the $19-million debut for Rambo: Last Blood.

CHICAGO—A judge in R. Kelly’s Illinois sexual assault case has refused to give $100,000 in bail money back to a Kelly friend who paid it in February to secure the singer’s release from county jail.

The judge says papers that restauranteur Valencia Love signed clearly indicated that she could lose the money. Love’s lawyer said in court on Tuesday that she didn’t know when she paid 10 percent of a $1-million bond that Kelly would be charged federally and land in federal jail.

John Collins said Love now fears losing all the money as charges against Kelly stack up. But Judge Lawrence Flood read sections of papers Love signed warning the bond money could be used for Kelly’s legal fees and that she may never see it again. AP

Julie Andrews to receive American Film Institute honor LOS ANGELES—The American Film Institute (AFI) is honoring Julie Andrews with its Life Achievement Award. The organization said on Friday that Andrews will receive the award at the Gala Tribute on April 25 in Los Angeles. It will be broadcast on TNT. Andrews’s acting career has spanned several decades, winning an Academy Award in 1965 for her starring role in Mary Poppins. She also starred in The Sound of Music and The Princess Diaries.

Andrews received a Grammy Lifetime Achievement Award in 2011. She also won two Grammys through Mary Poppins and Julie Andrews’ Collection of Poems, Songs and Lullabies. The 83-year-old actress will be the 48th recipient of the prestigious honor from the AFI, joining Mel Brooks, Robert de Niro, Meryl Streep and George Clooney. This year’s honoree was Denzel Washington. AP

‘Downton Abbey’ overpowers Brad Pitt, ‘Rambo’ at box office

N J.LO STRUTS UPDATED JUNGLE DRESS AT VERSACE MILAN—Jennifer Lopez won Milan Fashion Week on Friday, wowing the crowd at Versace when she emerged wearing a version of the jungle dress that nearly broke the Internet almost 20 years ago.

Building up to the big reveal, Donatella Versace announced from backstage a Google search for “Versace jungle dress,” and a dome ceiling above the circular runway filled with images of J.Lo wearing the 2000 Versace dress at the Grammys.

Then Versace intoned: “The real jungle dress,” and Lopez appeared in an updated version of the iconic gown, which maintained the plunging neckline but in a sleeveless version and with a train that billowed below the open back. Not a smartphone remained dormant as the fashion crowd jostled to catch video of the fashion ah-ha moment.

The original jungle dress made not only fashion history, but Google history. According to Versace’s press notes, millions of people searched Google in an effort to see the dress, inspiring tech giant to create Google Images.

“The world had the same reaction: jaw dropping,” Versace said in show notes. “Today we live in a technological world, but back then, one event promoted the creation of a new tool that now has become part of our lives.” AP

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BY JAKE COYLE The Associated Press

EW YORK—Raise your teacups! The bigscreen encore of Downton Abbey handily (but very politely) thumped both Brad Pitt’s Ad Astra and Sylvester Stallone’s Rambo: Last Blood in theaters over the weekend in one of the more unlikely box-office upsets.

Downton Abbey debuted with $31 million in ticket sales, according to studio estimates on Sunday, royally trumping the $19.2-million opening for Ad Astra and the $19-million debut for Rambo: Last Blood. Neither the draw of Pitt in space nor a bandanna-wearing Stallone could match the appeal a tea party with old friends.

While the stout performance of Downton Abbey had come to be expected in the lead-up to release, it was still striking. The debut marked the best first weekend ever for Focus Features in its 17-year history. It ranks as the best opening for any specialty studio in a decade. “We always knew that there was a tremendous amount of love for Downton Abbey,” said Lisa Bunnell, Focus’s distribution chief. “But as we started on working with promotions and special events for the movie, we realized that the love for Downton Abbey

goes way beyond what we even thought it was going to be.”

Coming four years since the series finale, Downton Abbey returns most of the original cast and was penned by its creator, Julian Fellowes. To drum up excitement, Focus hosted dress ups and Downton parties. While the film drew a healthy amount of younger moviegoers (31 percent under 35), its audience was predictably largely female (74 and older, 32 percent over 55)—a seldom-catered-to demographic.

Critics greeted the film warmly (85 percent fresh on Rotten Tomatoes) but audiences were even more enthusiastic, giving it an “A” CinemaScore. Having already played for a week in some international territories, Downton Abbey has already brought in $61.8 million worldwide.

Reviews were similarly strong for James Grey’s Ad Astra, which premiered earlier in the month at the Venice Film Festival. It sits at 83 percent fresh on Rotten Tomatoes and comes on the heels of plaudits for Pitt in Quentin Tarantino’s Once Upon a Time...

In Hollywood (which has grossed $344.6 million worldwide thus far).

But the film, in which Pitt plays an astronaut journeying through the solar system to reach his space-explorer father (Tommy Lee Jones), was a pricey one—especially for an artfully made drama predicated more on father-son psychology than sci-fi spectacle. The production cost around $100 million for 20th Century Fox, which was earlier this year acquired by the Walt Disney Co. Disney postponed the release of Ad Astra from May to September. The result for Ad Astra follows disappointing returns for a handful of Fox films released under Disney, including Dark Phoenix and Stuber. Ad Astra, which added $26 million overseas, will hope good reviews give the film some legs in the weeks ahead.

“It’s been a very rough go for many of the Fox

releases,” said Paul Dergarabedian, senior media analyst for data firm comScore. “I think this is a solid debut. It’s certainly an expensive movie. Anytime you swing for the fences with an outer space film, you have to spend quite a bit of money.”

Lionsgate’s Rambo: Last Blood is the fifth Rambo movie going back to the 1982 original, First Blood.

Fashioned as the franchise’s final installment (Stallone is now 73 years old), it did about the same as the previous 2008 reboot, which opened with $18 million before ultimately grossing $113 million worldwide. Last Blood got especially terrible reviews, though; it’s only 31 percent fresh on Rotten Tomatoes.

That trio of new releases outperformed a pair of strong holdovers. After two weeks at the No. 1 spot, Warner Bros.’s It Chapter Two slid to fourth with $17.2 million. The STX’s stripper tale Hustlers, starring Jennifer Lopez, earned $17 million in its second weekend. Those very divergent options in theaters added up to a lot of choice for moviegoers. The weekend was up 30 percent from the same frame last year, according to comScore.

Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore.

Where available, the latest international numbers for Friday through Sunday are also included.

1. Downton Abbey, $31 million ($10 million international) 2. Ad Astra, $19.2 million ($26 million international) 3. Rambo: Last Blood, $19 million ($9.1 million international) 4. It Chapter Two, $17.2 million ($21.3 million international) 5. Hustlers, $17 million ($3 million international) 6. The Lion King, $2.6 million 7. Good Boys, $2.5 million 8. Angel Has Fallen, $2.4 million 9. Overcomer, $1.5 million 10. Hobbs & Shaw, $1.5 million. ■

Super Tekla showcases comedic prowess in ‘Kiko En Lala’ GMA’s breakout comedian Super Tekla is all set for his big-screen debut in Kiko En Lala, which opens in theaters everywhere on September 25.

Produced by Backyard Productions, Super Tekla plays a challenging dual role as the conjoined twins Kiko and Lala. The former is the tough and masculine twin, while the latter is the outspoken and witty gay twin. Because of their condition, the inseparable twins were sent to a carnival known as “Kambal Karnibal.”

Despite their differences, Kiko and Lala contentedly live their lives in each other’s close-knit company. Problem ensues when the twins wish to be separated from one another but there’s a catch—only one body can exist and the souls cast adrift must fight over it.

In hopes of scoring a chance to be with their romantic interests, the theninseparable twins now battle over who

is more deserving of the body. Is it Kiko, who dreams of marrying the beautiful and non-superficial Aning, portrayed by soughtafter GMA actress Kim Domingo; or Lala, who fantasizes over the down-to-earth merman Rap, played by the media giant’s hunky star Derrick Monasterio?

Joining the talented cast are Tetay as the cunning fortune teller Wagas, Lala’s rival over Rap; Kiray Celis as Dalisay, Wagas’s gullible minion; Jo Berry as Tadhana, Wagas’s sister and an unusual clairvoyant who uses her sense of smell to communicate with spirits; and Vangie Labalan as Mama San, the kindhearted woman who owns the carnival.

Playing a very special role in the film is comedy superstar Ai-Ai de las Alas, the supernatural presence whose job is to escort human souls at the end of their journey. She also serves as the mediator between Kiko and Lala.

Kiko En Lala is under the direction of the multi-awarded Adolfo Alix Jr.

THE cast of Kiko En Lala

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Art

BusinessMirror

Tuesday, September 24, 2019

www.businessmirror.com.ph

Nueva Vizcaya recognizes Bugkalot culture bearers THE Nueva Vizcaya Council for Culture and the Arts has unanimously voted to recognize Bugkalot elders who were identified as culture bearers of indigenous arts and crafts of the province.

The council, a multisectoral agency which oversees the province’s culture and arts scene, made the action in its recent regular meeting.

The body is composed of representatives from the government, the private sector, academe, the National Commission on Indigenous Peoples, the Department of Education, the tourism council, local historical society, the art community and chaired by the provincial governor.

Based on the documentation made by the provincial tourism office, Nueva Vizcaya has several elder tribal artisans led by 84-year-old Adolfo Quewigh of Pelaway, Alfonso Castañeda town, an expert maker of the Bugkalot kaget (brass belt for women), kina-wit (belt accessories) and musical instruments like gisada (violin with human hair strings) and kulising (bamboo guitar).

His wife, Nanay Sublina, is also an expert in indigenous embroidery, and the Quewigh couple play a significant role in the remote community by teaching other and younger family members of their craft. Some elders from Dupax del Norte and other indigenous peoples’ groups are also being eyed for local and national recognition.

The tribe was formerly known as the Ilongots, who were fierce headhunters in Alfonso Castañeda, Dupax del Norte and Dupax del Sur towns which have wellpreserved indigenous customs and traditions.

The provincial government, through the Sangguniang Panlalawigan, plans to legislate ordinances declaring them as local treasures or local cultural bearers.

It also hopes to nominate these tribe elders to the Gawad Manlilikha ng Bayan, or the National Living Treasure Award, given by the National Commission for Culture and the Arts and conferred by the President of the Philippines.

The GaMaBa is the highest award given to Filipinos engaged in traditional art whose distinctive skills have reached a high level of technical excellence and have been passed on to and widely practiced in his or her community.

The Bugkalot’s tribal art and cultural heritage will also be showcased in the province-wide observance of the Indigenous People’s Month set in the capital town of Bayombong this November.

BUGKALOT indigenous artisan Adolfo Quewigh

The man who plants knowledge THE Canvas team headed by founder and executive director Gigo Alampay

CIRCLES JT NISAY

jtnisay@gmail.com

I

N his desire to spread the message of a powerful book, one that spoke of an individual’s ability to change the world, Gigo Alampay changed his own.

Alampay first encountered The Man Who Planted Trees in the 1980s. Written by French author Jean Giono in 1953, the book tells the allegorical tale of a man who singe-handedly cultivated a wasteland devoid of life and hope into a thriving town that resembled the Garden of Eden. Such was the impact of the story to Alampay that he wanted to publish an adaptation for the Philippines.

On June 13, 2005, Alampay published Elias and His Trees through a nonprofit organization he founded, the Center for Art, New Ventures and Sustainable Development, or Canvas. It was the achievement of a goal, the fulfillment of a mission—a culmination. It was where most stories typically end.

In Alampay’s case, however, realizing the dream only paved the way to another.

“The success of that first book led us to other books, which later led to more books, new programs, and even bigger dreams,” he said.

Today, Canvas works with the creative community to promote children’s literacy, explore national identity, and deepen public appreciation for Philippine art, culture, and the environment.

The organization manages two programs. First is “Looking for Juan,” wherein social issues are explored through art. Under the program is the Outdoor Banner Exhibit, an annual art showcase at the Academic Oval of the University of the Philippines

that features works from emerging talents to National Artists like BenCab. The other program is focused on literacy. Canvas collaborates with Filipino artists and writers to publish original books to be given to kids in disadvantaged communities throughout the country.

The titles, ranging from storybooks to activity books, are either commissioned or chosen from of a story-writing competition of Canvas, called the Romeo Forbes Children’s Story Writing Competition.

The mechanics is simple. Canvas asks a local artist to produce one artwork that will be used as basis for the story-writing contest. Then, contestants must create a story around the piece. Finally, the artist will produce more artworks for the winning story.

Among the star-studded list of talents Canvas has worked with for the competition are Romeo Forbes, Elmer Borlongan and Rodel Tapaya. Joy Mallari has participated as well, along with Don Salubayba, Liv Romualdez Vinluan, Daniel de la Cruz and Dex Fernandez, among others.

The contest is open to all Filipinos. There are winning titles written by Palanca awardees, such Ang

Aklatang Pusa by Eugene Evasco and Ipapasyal Namin si Lolo Genaro by Gojo Cruz. First-time writers have found success as well, including Francesca Nicole Chan Torres, whose story Nadia and the Blue Stars has been used for psychosocial therapy to help children displaced by man-made conflict or by natural calamities to deal with the trauma.

“Writers will go in all different directions and there is no way to predict what kind of stories emerge,” Alampay said.

The project has also brought Canvas to Palawan to develop a book for the indigenous Tagbanua tribe.

The organization sent a team to interview the elder tribesmen about their legends, culture and traditions.

The project bore Three Tales of the Tagbanua, published in 2017.

Canvas has produced 30 titles to date, and have distributed 250,000 books in partnership with about a hundred volunteers and partner organizations to communities from Ifugao to Basilan.

Some Canvas books are found in Fully Booked, while others are available at www.canvas.ph and www.lookingforjuan.com, the organization’s recently launched web site. ■

Creativity without the pressure at ‘paint and sip’ studios

BY MOLLY SPRAYREGEN The Associated Press THEY’VE become a global sensation—“paint and sip” studios where adults can spend evenings out learning to make art in a relaxed, BYOB setting. Thousands of franchises now exist to help us all unleash our inner creative. One of the places where it all began was a little studio outside Birmingham, Alabama. In 2002, at age 28, Wendy Lovoy quit her corporate job to pursue a career as a painter. She began teaching adult and kids’ classes. The adults, she noticed, were taking far too long to finish their paintings. They were nervous about making them perfect. They couldn’t get out of their own heads. When Lovoy encouraged them to relax and move more quickly, their work always turned out better.

So she began holding two-hour sessions during which she would guide adult students to create an entire painting from start to finish. As it turned out, they loved it. The paintings were coming out great,

and classes were filling up. Students began bringing mimosas. The atmosphere was relaxed and pressurefree. So in 2003, her company, Sips ‘N Strokes, was born. Sips ‘N Strokes pioneered the model of BYOB recreational painting classes that teach students to reproduce a work of art step-by-step.

“My vision was to inspire the world to create,” says Lovoy. She hoped to transform the painting process from something intimidating and seemingly out of reach to something approachable and fun.

The business grew slowly at first, going from one class a month to two, and then, suddenly, it was seven days a week. By 2007, Lovoy was squishing 100 people per night into her studio. By 2009, when she franchised Sips ‘N Strokes, similar businesses, like Painting With a Twist and Pinot’s Palette, had begun springing up around the country.

“It became an industry that the customer base really gravitated to,” says Joe Lewis, CEO of the Mandeville, Louisiana-based Painting With a Twist.

“With the increase in the DIY industry, it has really

caught on and become popular.”

Because the investment needed to start a paint and sip franchise is relatively low, Lewis says, the industry has grown quickly. Painting With a Twist recently acquired a competitor, Chicago-based Bottle and Bottega, and the merged companies have a total of 300 locations around the country.

Lovoy is amazed at how popular paint-and-sip places have become since she opened her studio.

“When you’re 28 years old and you see something that was your passion blow up to something so big, it’s phenomenal,” says the now 43-year-old.

While many people come to the classes to relax with a glass of wine, Lovoy believes that a huge piece of the success of the Sips ‘N Strokes model is the way it forces students to speed up their painting.

“When you give an adult time, we overanalyze and overthink everything,” she says.

“When you give them that time restraint, they can create anything. They just have to get outside of themselves, and you do that when you move fast.

You shut down that anal side of your brain and your creative side opens up.”

She enjoys watching students gain confidence.

“People like to learn things,” she says. “It’s very satisfying for people to create something themselves.”

Some of her most dedicated students have even become professional artists.

Mary Posey, a regular student of Lovoy’s who began attending Sips ‘N Strokes classes in 2006, has produced hundreds of paintings.

“I went from needing a lot of help to fix paintings at the end of class to ‘I really started to figure out what they meant by doing a stroke a certain way,’” she says. “I started figuring out I could do it on my own.” Her growing confidence in her art, she says, “spilled over into other things. I just noticed I had more confidence.”

Lovoy also hopes her students gain an appreciation for art and the work that goes into it.

“Go out and support your local artists,” she says.

“Get into the art scene.”