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Thursday, September 27, 2018 Vol. 13 No. 348

ADB cuts PHL growth forecast, cites agri woes

By Cai U. Ordinario & Bernadette D. Nicolas

@cuo_bm @BNicolasBM

HE government must now review its agriculture policy as the lackluster performance of the farm sector is hurting the country’s growth prospects, the Asian Development Bank (ADB) said on Wednesday, as it cut its GDP growth forecast for the Philippines in 2018 and 2019.

@ReaCuBM

HILIPPINE gover nment officials are upbeat about fresh investments coming from the United Kingdom (UK), to support the country’s infrastructure buildup program or the “Build, Build, Build” (BBB), according to the Department of Finance (DOF). During the Philippine Economic Briefing (PEB) in London, Finance Secretary Carlos G. Dominguez III expressed confidence that the economic partnership with the UK—among the Philippines’s 10 leading sources of foreign direct investments (FDI)—would grow in the years ahead, given that the British economy has been a reliable partner even when the Philippines was going through difficult challenges in the past. “We are confident this partnership will grow even more as our economy emerges to take its place among the dynamic economies in a dynamic region,” Dominguez said in his keynote speech on Tuesday at the PEB held at the Four Seasons Hotel. Dominguez expressed optimism that more investments from the UK would enter the Philippines in the coming years, “especially in the sunrise sectors of our economy.” “ T hese a re e xc it i ng t i mes for our economic development. We invite you to participate in building a strong and resilient

With rice tariffication, what happens to food security?

6.4%, 6.7% The revised GDP growth forecast of the ADB for the Philippine economy in 2018 and 2019

Rene E. Ofreneo

LABOREM EXERCENS

In a news briefing, ADB Philippine Country Director Kelly Bird said the sluggish performance of the country’s agriculture sector was a major factor behind the regional lender’s decision to revise downward its growth forecast for the Philippines this year and for 2019.

E’RE a blessed nation because we can grow our own food and, therefore, we’re secure. A nation that can feed its people is a nation more secure.”— Pre-sident George W. Bush, on the occasion of the signing of the US Farms Bill (2002), which is renewed every five years and which allocates massive subsidy to American agriculture.

Continued on A2

Continued on A7

‘W

Auto sector Aug sales dip 14.1%

$5.8B

By Elijah Felice E. Rosales

The net foreign direct investments in the first half of 2018, or a 42.4-percent increase, as noted by DOF chief Dominguez at the PEB in London

economy,” he added. Among those present at the event were British Ambassador to the Philippines Daniel Pruce, Philippine Ambassador to the UK Antonio Lagdameo, and top executives of Standard Chartered, UBS, Bank of China, J.P. Morgan, Citibank, Credit Suisse and Goldman Sachs. Members of the UKAsean Business Council and of the Philippine business sector were also in attendance. The PEB aims to brief British investors on the vast business opportunities in the Philippines’s infrastructure, energy and tourism sectors, and to explore ways to expand economic cooperation between Manila and London. The finance chief explained that improvements in the ease of doing business (EODB), along with other initiatives like the Comprehensive Tax Reform Program (CTRP) and the BBB, have deepened investor confidence in the Philippines under the watch of President

PESO EXCHANGE RATES n US 54.3220

See “DOF,” A2

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DOF upbeat on new infra-tied investments flowing in from UK By Rea Cu

2016 EJAP JOURNALISM AWARDS

BUSINESS OF WAR A Gripen Saab fighter plane is on display at the 2018 3rd Asian Defense, Security and Crisis Management Exhibition and Conference at the World Trade Center. ADAS 2018 is expected to attract over 200 leading domestic and international exhibitors representing the full spectrum of defense, homeland security and disaster relief industries. See story on A8, “Lockheed Martin’s PHL pitch: 4th-generation F-16, Black Hawks.” NONIE REYES

PHL banks to keep steady credit profile–Fitch By Bianca Cuaresma @BcuaresmaBM

HE Philippine banking system is expected to maintain a steady credit profile, despite the rapidly rising interest rates in the country, as the Bangko Sentral ng Pilipinas (BSP) tries to bring down inflation rates, an international credit watcher said. In its assessment made public on Wednesday afternoon, Fitch Ratings said Philippine banks will likely keep their generally stable credit fundamentals, amid rising domestic interest rates and choppier market conditions. “Higher lending yields should bode well for interest incomes, and we

Higher debt repayments may hurt asset quality, especially for borrowers on adjustable rate loans. However, we expect such effects to be limited in the near term. Higher rates are still manageable on the whole, and economic growth drivers remain broadly sound.”—Fitch

expect any softening in loan growth and credit quality to be modest as economic fundamentals remain supportive,” Fitch Ratings said. The credit watcher—which rates the Philippines at “BBB”with a stable outlook—said the major local banks’ net interest margins (NIM) mostly improved in the first half of 2018 as market interest rates rose. “...We expect this trend to continue. The Central Bank has raised its key policy rate by 100 basis points since May 2018 in response to above-trend inflation, and further hikes are possible. This should continue to drive asset yields and NIM expansion for the rest of the year,” Fitch Ratings said. Continued on A2

@alyasjah

HE automotive industry has posted a 14.1-percent sales decline in August—another setback for a sector that was directly hit by the first tax-reform package—but managed to show little signs of recovery, as its monthon-month performance improved. In a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA), August car sales fell 14.1 percent to 30,313 units, from 35,309 units during the same month last year. However, this was an 8.1-percent improvement from the industry’s total sales in July at 28,038 units. Passenger car sales slowed 22.9 percent to 8,678 units, from 11,258 units last year. On the other hand, sales of commercial vehicles contracted 10 percent to 21,635 units, from 24,051 units last year. Campi and TMA also sold 2,981 Asian utility vehicles (AUVs), down 56.6 percent from 6,864 units. Positive strides were made in the light commercial vehicle and trucks and buses category 4 segments, as the two registered 12 percent and 12.9 percent sales growth, respectively. However, sales of light trucks nosedived 34.2 percent to 685 units, from 1,041 units last year. Campi and TMA also sold 159

n JAPAN 0.4809 n UK 71.6236 n HK 6.9552 n CHINA 7.9175 n SINGAPORE 39.7730 n AUSTRALIA 39.3835 n EU 63.9533 n SAUDI ARABIA 14.4855

Continued on A2

Source: BSP (26 September 2018 )

A4 Thursday, September 27, 2018 A2

News

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Trillanes is not being subjected to ‘political persecution’–Palace By Bernadette D. Nicolas @BNicolasBM Rene Acosta @reneacostaBM & Butch Fernandez @butchfBM

ALACAÑANG on Wednesday denied subjecting embattled Sen. Antonio F. Trillanes IV to “political persecution,” saying that it was rather the Duterte’s administration’s “political gift” to him now that he is hugging the political and media limelight. Presidential Spokesman Harry L. Roque Jr. said they are not paying too much attention to the senator and that the administration is focused on fighting inflation.

cal capital however that may be. Even [if] it is small, maybe he has still acquired some political capital,” he said.

‘Disproportionate’

SEN. Panfilo M. Lacson Sr., for his part, said there is basis for Malacañang’s apprehension over disgruntled factions in the Armed Forces of the Philippines suspected by Duterte to be in collusion with opposition groups to destabilize the administration. “There’s nothing unusual,” Lacson said in an interview, noting that while Mr. Duterte is seen to be “very supportive, and consistently at that, upon his assumption lahat na [all possible] goodwill [to the]…Armed Forces, he [should not expect to] have 100-percent or absolute support from all the soldiers and officers.” Lacson added: “Precisely, there will be some elements na di talaga [that are not] satisfied or for some reason related to advancement sa kanilang career [of their career], di rin talaga ganun ka-satisfied (or those who are not totally satisfied). A former National Police Chief, the senator surmised the disgruntled Armed Forces elements “are opening themselves up…[and] becoming vulnerable to possible recruitment.” “But having said that, the Presi-

BUT for former National Security Adviser Jose Almonte, President Duter te may have politica l ly acted in a “ disproportionate” manner in voiding the amnesty granted to Trillanes, whose case Almonte now considered as a little bit similar to the case of the late Benigno Aquino Jr., who was assassinated during the time of the late strongman former President Ferdinand E. Marcos Sr. Almonte, considered as the “grandfather” of the Reform the Armed Forces Movement, the group of military officers that revolted against Marcos and staged a series of coups against the administration of the late President Corazon C. Aquino, said the arrest of Trillanes gave him political “plus” points and a negative one for Duterte. “In the context of the political process, President Duterte obviously has reacted in a disproportionate manner. Because of that, Trillanes, who is the victim, and he is a senator, he acquires politi-

Overwhelming support

dent should not worry,” Lacson assured, adding that, “in our own assessment, he [Duterte] has the overwhelming support of the vast majority of the Armed Forces.”

Minor footnote

TRILLANES, a staunch administration critic, was arrested on Tuesday and on the same day posted a P200,000 bail for a rebellion case after the Makati Regional Trial Court Branch 150 issued a resolution granting the Department of Justice’s motion for the issuance of an arrest warrant and a hold departure order against him. In its 22- page resolut ion, Presiding Judge Elmo Alameda stressed that the prosecution managed to prove that Trillanes actually did not apply for amnesty after the hearing the court conducted on September 14. “You know my office maintains—we measure the amount of air time and the amount of news that he gets—he [Trillanes] gets 80 percent, we get 30 percent by way of reply. That’s not persecution. He loves it, because he is now in the limelight,” Roque said in a television interview. “This is not political persecution. This is a political gift for him, because we have given him the the limelight,” Roque said, adding that critics can’t argue Trillanes is being subjected to political persecution. “So, I don’t think anyone can complain about persecution, especially since it went through the correct process, it was decided by the courts and no one can dispute the integrity and independence of the courts in the Philippines,” he said. Trillanes’s camp and his supporters have since pointed out that the senator is being singled out by the administration, questioning the President’s move to issue Proclamation No. 572, which declared his amnesty void ab initio for failure to comply with the minimum requirements, particularly the admission of guilt and filing the ap-

plication for amnesty. Malacañang has since defended the President’s move, saying that Duterte just want to implement the law and that the fact that Trillanes is the acknowledged leader of the Magdalo mutineers is a reasonable basis why “the process has been limited to him.” Asked if others who have already applied for amnesty should also have a copy of their application form so that they won’t go back to a possible trial or go back to jail, Roque said: “When questioned, they better have a copy of their application form. Unless questioned, it [application for amnesty] remains vaild,” he said. Moreover, Roque also downplayed the Trillanes issue, saying it’s just “political talk” and that the senator is just a “minor footnote” who doesn’t even have another term in the Senate. “So he’s no big deal as far as the administration is concerned. However, the President did take an oath to enforce the laws, and that what is he is doing. But that is why we are focused on inflation, the economic clusters have been very busy formulating policies, and now we have reached the point where we are implementing it,” he said, noting that the release of executive issuances to address inflation is a proof that the government is serious in easing the inflation burden.

Not dead

FOR Chief Presidential Legal Counsel Salvador S. Panelo, Trillanes is a “living proof that democracy is alive.” “Look what he [Trillanes] is doing, he is maligning the government and he is still there. If there is already no democracy, he should have been either salvaged, jailed or killed. Right? Panelo said. Earlier, Trillanes said “democracy lost” in the instance of his arrest even after submitting evidence to debunk rebellion charges, insisting that he was granted amnesty for an offense committed seven years ago.

PHL banks to keep steady credit profile–Fitch “Higher debt repayments may hurt asset quality, especially for borrowers on adjustable rate loans. However, we expect such effects to be limited in the near term. Higher rates are still manageable on the whole, and economic growth drivers remain broadly sound,” it added.

The BSP will have its next monetary policy meeting this Thursday (September 27), and markets expect the Monetary Board to hike rates further as inflation remains elevated. The credit watcher also said the economy will likely be less affected by global trade uncertainty compared to its neighbors, and growth

should largely remain domestically driven in the near term. Fitch, however, flagged the need to watch this year the local banks’ funding costs. “Time-deposit rates have risen over the last 12 months, and more intense funding competition could exert greater pressure on NIMs.

Auto sector Aug sales dip 14.1% trucks and buses category 5, lower by 34.6 percent from 243 units. The better month on month performance was attributed by Campi President Rommel R. Gutierrez to the industry’s marketing strategy.

Gutierrez said intensive promotional campaigns and new model launches the past months boosted the sector’s higher sales in August than in July. “Coming from a double-digit decline in July, our

August sales performance is an indication of improving consumer confidence,” he added. Toyota Motor Corp. continues to be the industry’s top performer with a 42-percent share, followed

continued from a1

Banks with less entrenched domestic franchises and tighter liquidity positions are likely to be more sensitive to funding cost pressures,” Fitch Ratings said. “Stable, low-cost funding such as current and savings accounts will continue to be a focus for banks in this environment,” it added.

continued from a1 by Mitsubishi Motors Philippines Corp. (19.2 percent), Nissan Philippines Inc. (9 percent), Ford Motor Co. Philippines Inc. (7.1 percent) and Honda Cars Philippines (6.7 percent).

ADB cuts PHL forecast, cites agri woes Bird noted the ongoing efforts of the government to convert the quantitative restriction on rice into tariffs and said it is “a step toward the right direction.” But, he said, this is not enough. “The current system, particularly the quantitative restrictions and the National Food Authority, that’s not working for Filipinos,” Bird said. “This is a good opportunity to start looking at agriculture in the Philippines and ways to improve productivity.” The ADB said supply problems in agriculture caused the rapid increase in inflation, along with high oil prices. It noted that oil prices are currently at $80 per barrel. Given these threats, the ADB

slashed its GDP growth forecast for the Philippines to 6.4 percent this year and 6.7 percent next year, from the initial forecast of 6.8 percent and 6.9 percent, respectively. The ADB said, however, that the country’s growth outlook remains stable despite moderating slightly in the first half of the year, as the Philippines’s economic fundamentals are “strong.” “We’re expecting growth to slowly pick up as public investment in infrastructure and social sectors accelerate and key economic sectors continue to perform solidly,” Bird said. In its latest “ADO Update”, the ADB also maintained its forecast that the

region’s GDP will rise by 6 percent in 2018. The growth forecast for 2019 was trimmed by 0.1 percentage points to 5.8 percent. The ADB noted that growth is moderating in 6 of the 10 countries in Southeast Asia, which is now expected to grow by 5.1 percent this year, 0.1 percentage points lower than the previous forecast. Net exports moderated growth in Indonesia, the Philippines, Thailand and Vietnam as imports surged to support government infrastructure investments. Growth should register 5.2 percent in 2019, consistent with the April 2018 forecast, though downside risks have intensified.

TRAIN’s impact

PET sets aside 50% shading threshold in VP poll recount By Joel R. San Juan @jrsanjuan1573

HE Supreme Court, sitting as Presidential Electoral Tribunal (PET), has set aside the 50-percent threshold being used in determining the validity of votes in the election protest filed by former Sen. Ferdinand “Bongbong” Marcos Jr. against Vice President Maria Leonor G. Robredo. In a 21-page decision penned by Associate Justice Alfredo Benjamin Caguioa, the PET partially granted the motion filed by Robredo asking the PET to abandon its earlier ruling favoring the 50-percent threshold over the 25-percent threshold that she said was used by the Commission on Election (Comelec) during the 2016 elections. “A f t e r a s s i du o u s l y g o i n g through the parties’ comments and arguments, the Court herein resolves to partially grant the subject motion insofar as setting aside the use of 50-percent threshold in the revision proceedings is concerned,” the PET said. In separate developments, both the Robredo and Marcos camps claimed they won this round of the epic electoral battle, with the vice president’s lawyer Romy Macalintal calling a news conference in Quezon City; and the former senator’s lawyer Dick Rodriguez saying in a radio interview he was aghast that their rivals can “speak volumes of lies” in twisting the implication of the latest PET issuance. The PET, likewise, decided to abandon the use of numerical threshold in segregating votes and instead directed revisors to refer to elections returns (ERs) generated by vote counting machines (VCMs) in the 2016 elections. The ER is a document in electronic and printed form directly produced by the VCM showing the date of the election, the province, municipality and the precinct in which it was held, and the votes in figures for each candidate in a clustered precinct where the said VCM was utilized. Under the new guidelines, the segregation and classification of

ballots will be done by referring to the ERs generated by the machine in the elections. “In this way, the reading of the VCM is mimicked and verified/confirmed. Also, in using the ERs generated by the VCMs used in the 2016 elections and not merely adopting a specific threshold, the Tribunal’s revision procedure will be more flexible and adaptive to calibrations of the voting or counting machines in the future,” the PET pointed out. Any issue on the segregation and classification of ballots will be resolved by the assigned revision supervisor, based on the guidelines set by the Tribunal. After the revision process, the PET said all objections and claims by both parties will be resolved by the Tribunal during the appreciation stage, taking into consideration the intent of the voters. “The Tribunal understand that there are instances where the ERs are not included in the documents inside the ballot boxes. Thus, in the absence of the ERs inside the ballot boxes, the HRs shall use the certified true copies of the ERs, which the Tribunal is already in the process of obtaining from the Comelec,” the PET noted. Meanwhile, the Court defended its earlier decision to a 50-percent threshold in determining the validity of votes. The Tribunal explained that it never received any document from the Comelec to back Robredo’s claim that the poll body adopted the 25- percent threshold through Comelec en banc Resolution No. 16-0600 prior to the commencement of the revision proceedings, which started on April 2, 2018. It noted that the Comelec merely submitted the random manual audit (RMA) guide where it uses the 25-percent threshold. “All told there was no legal basis for the Tribunal to amend the 2010 PET Rules, particularly on the revisions of ballots. The RMA guidelines of the Comelec, which pertain to an entirely separate and distinct activity as Comelec itself acknowledge, do not suffice,” the PET said.

DOF. . . continued from a1 Duterte, leading to a 42.4-percent surge in net foreign direct investments to $5.8 billion in the first half of 2018. Dom i ng uez sa id t he most remarkable aspect of the countr y’s economic performance so far this year is its turn into an i nc re a s i n g l y i nv e s t me nt - le d growth, following a 27.4-percent ju mp i n c apit a l for m at ion — t he mo s t comp re he n sive gauge of investments—as Duterte’s BBB initiative continues to gain momentum. Around 250 participants attended the PEB, which carried the theme “Strengthening Economic Resilience and Spurring Infrastructure Development for Inclusive Growth.” The PEB was led by Dominguez, along with Budget Secretary Benjamin E. Diokno, Socioeconomic

Planning Secretary Ernesto M. Pernia, Bangko Sentral ng Pilipinas Deputy Governor Diwa C. Guinigundo, Transportation Secretary Arthur P. Tugade, Public Works and Highways Secretary Mark A. Villar, and Bases Conversion and Development Authority President and CEO Vivencio B. Dizon. Trade and Industry Secretary R amon M. Lopez and Tourism Secretar y Ber nadette Fatima Romulo Puyat joined the team in a series of meetings and roundtable discussions with British firms and companies. Meanwhile, at the sidelines of the PEB, Dominguez pointed out that the country is looking to issue $2 billion of hard-currency denominated bonds with a tenor of 10 years by next month. DOF upbeat on new infra-tied investments flowing in from the UK.

continued from a1

FOLLOWING the ADB’s release of its latest report, Malacañang said on Wednesday that it expected the country’s economic expansion to fall short of its target for the year due to certain policy decisions, such as the closure of Boracay and implementation of the Tax Reform for Acceleration and Inclusion (TRAIN). “Per the ADB’s updated outlook, the Philippines’s growth remains the second-highest in Southeast Asia,” Presidential Spokesman Harry L. Roque Jr. said in a statement. “Our economic managers are committed to the country’s long-term vision and are swiftly addressing issues affecting our growth

prospects to sustain high growth and make it inclusive.” The TRAIN law was blamed for accelerating inflation this year, but the Department of Finance maintained that it its impact on consumer prices was only “minimal.” So far, Bird noted that the national government has been proactive in addressing inflation, citing the recent decision by the Bangko Sentral ng Pilipinas to raise policy interest rates by 100 points. “We have seen, for example, most recently the government had removed administrative restrictions on imports of right range of commodities,” Bird said. They are also looking at ways to improve farm-to-market infrastruc-

ture, public buildings and expand capacity of market places. Despite the cut in the ADB’s growth forecast Budget Secretary Benjamin E. Diokno said he remains confident that the country’s economy will expand at 7 to 8 percent in the next five years. “Our growth target is consistent with projections of multilateral institutions and global think tanks. With higher public investments, we are confident our growth target is achievable,” Diokno was quoted as saying before the various industry sectors of the business community during the Philippine Economic Briefing in London.

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Solons laud NFAC move to import addl rice, raise palay buying price By Jasper Emmanuel Y. Arcalas @jearcalas

AWMAKERS are throwing their support behind the National Food Authority Council’s (NFAC) recent twin decisions to import additional volume of rice and increase the NFA’s buying price of palay to address the high prices of the staple in the market. Agri Party-list Secretary-General Benjie Martinez said their group believes that the NFAC decision to import additional 500,000 metric tons of rice before the year ends would force hoarders to release their stocks to the market. “We are confident that the NFA’s objectives will be met. An influx of rice at those quantities will stabilize supplies and force unscrupulous rice traders to release their stocks, if they are hoarding them,”

Martinez said in a news statement issued on Wednesday. “The matter of high rice prices is an urgent issue that needs decisive measures and will not be addressed by paralysis by analysis,” Martinez added. In a separate news statement, Rep. Karlo Alexei B. Nograles of the First District of Davao lauded the pronouncement of the NFAC to allow the NFA to provide additional incentives to farmers that would sell their palay to the government. “I am happy that the NFA Council is somehow adjusting. While they have not increased the buying price of palay, they have added incentives for farmers,” Nograles said. On Monday NFAC Chairman and Agriculture Secretary Emmanuel F. Piñol announced that the additional incentives to be given to the farmers would effectively increase

the NFA’s support price for palay to about P20 per kilogram. Both Agri Party-list and Nograles said the return of the NFA under the Department of Agriculture (DA) is the right move to address the country’s present rice situation. “I agree that the NFA should be returned to the DA so that the needs of farmers can be addressed. Our farmers have many needs, and the NFA is one of the agencies involved in providing support to our farmers,” Nograles said. However, Nograles reiterated his proposal to increase the NFA’s support price for palay to P22 per kilogram to ensure that the food agency is competitive against private traders. “I continue to call on the NFA to raise the buying price to P22, so we can better help our farmers,” he said.

Davao City allots ₧22-M aid to Naga slide, Ompong victims

AVAO CITY—The city government here has allocated P22 million for the victims of Typhoon Ompong and the landslide in the city of Naga in Cebu where two disasters struck within a span of one week that claimed more than 120 lives. The city council initially approved P20 million last week as financial aid to seven Northern Luzon prov-

inces hit by Ompong. This week, on Tuesday, the council also approved another P2 million for the victims of the landslide in the Naga. The cash assistance to Northern Luzon was separate from the 10,000 food packs the city has sent earlier to areas devastated by the typhoon, through government dump trucks, with streamers emblazoned with the

words “From the People Of Davao City.” The relief packs contain rice, canned goods, water and hygiene kit. The recipient local governments were Mayoyao, Ifugao, and the provinces of Cagayan Valley, Isabela, Benguet, Ilocos Sur, Abra, Kalinga and Tuguegarao City. All these areas were declared under state of calamity. Manuel T. Cayon

A3 Editor: Vittorio V. Vitug • Thursday, September 27, 2018 A4

briefs OMPONG INFRA DAMAGE NOW P6.9B DAMAGE to infrastructure caused by Typhoon Ompong has reached P6.948 billion, according to the public works department, which, to date, is still clearing roads in the Cordillera Administrative Region (CAR) and Region III. Broken down, damage to roads is now pegged at P1.539 billion, damage to flood control structures is at P5.278 billion; for public buildings, P78.30 million; and for bridges, P52 million. According to the DPWH media advisory, eight roads in CAR and Region III are still closed to traffic due to landslide, collapsed road, damaged slope protection, road slip and flooding. The Department of Public Works and Highways (DPWH) is still “clearing” eight roads in Benguet, Abra, Apayao, Ifugao, and Pampanga. “Over the past two weeks, DPWH Regional and District Engineering Offices were able to clear a total of 77 roads that were closed due to Typhoon Ompong and effects of Habagat,” the advisory read. Typhoon Ompong ripped through the regions of Luzon, displacing 388,136 families in 4,414 barangays in Regions 1, 2, 3, 4A (Calabarzon), 4B (Mimaropa), National Capital Region and the CAR. Lorenz S. Marasigan

D.I.C.T. TO CLOSE NCSP DEAL BY YEAR-END

THE Department of Information and Communications Technology (DICT) said on Wednesday that the bidding and award for the P12-million National Cybersecurity Plan (NCSP) contract will be completed before the end of the year. Four companies joined the ongoing bidding process, according to DICT Assistant Secretary for Cybersecurity Allan S. Cabanlong. He did not identify, though, the participating cybersecurity system providers for confidentiality purpose. Citing the government procurement process under Republic Act 9184, the DICT official said that this should be awarded to the winning bidder “within the year, otherwise, the money will go back to the Treasury.” Cabanlong added that they are now discussing internally

the provision of the notice to proceed so as to prevent any delay in the implementation of the plan. This five-year national framework will guide and institutionalize the execution of information security governance in the country. It was published on May 2, 2017. Roderick L. Abad

Q.C. TIES UP WITH J.I.C.A. IN E-TRIKE PROJECT

THE Quezon City local government is turning to Japanese technology to reduce air pollution, while providing commuters an alternative means of transport, according to the Japan International Cooperation Agency (Jica). Jica, in a news statement issued on Wednesday, said the local government of Quezon City will be piloting 20 electric tricycles manufactured by Japanese company BemacUzushio Electric Co. “Sharing Japanese technology is one way Jica continues to assist the Philippines in addressing its development challenges. With this project with the Quezon City government, we aim to support the Philippines in addressing air pollution woes and alternate accessible transport means,” said Jica Senior Representative Tetsuya Yamada. Bemac-Uzushio Electric Co. introduced the electric tricycles under Jica’s Partnership with the Private Sector Scheme that encouraged Japanese private sector to participate in partnerships with developing countries. Under the project, Bemac will study the feasibility of an electric tricycle business model in the Philippines. Fleet shifting from gasoline-powered vehicles to electric vehicles can result in the reduction of air pollutants by more than half for equivalent emissions, according to a study by the Institute of Environmental Science and Meteorology, College of Science at the University of the Philippines. Powered by a lithium-ion battery, BEMAC’s electric tricycles are equipped with state-of-the-art Japanese technology such as the power control unit (PCU). The PCU is composed of the vehicle control unit responsible for maintaining the various components of the electric vehicle at ideal conditions, as well as the motor, inverter, and other important parts. Cai U. Ordinario

TheBroa

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Thursday, September 27, 2018

Industrial cybersecurity in the Inter S By Dennis D. Estopace | Senior Editor

year, that number increased by 400 to 2,800 malware families. The percent of ICS computers attacked by malware was highest in Southeast Asia at 61.6, with Africa, South Asia, Central Asia and East Asia following at 59.6 percent, 55.6 percent, 52.4 percent and 49.6 percent, respectively, Kaspersky Lab’s CERT data showed. The Philippines had 51.4 percent of its ICS computers attacked by malware, lower than Vietnam’s 75.1 percent but higher than Thailand’s 42.1 percent. ICS computers running on Windows were recorded to have the highest percentage of attacks at 51.2 percent, followed by browsers at 37.7 percent.

OCHI, Russia—Mouse: the one thing feared by elephants and the world’s largest companies today. Just one click could spell disaster— the Bangladesh bank money transfer fiasco and Wannacry virus—and major revenue losses. “The gap or space, what I call ‘logical distance,’ between the click of a mouse and the corresponding action that ensues after the click is shortening. That’s worrying,” Patrick Miller, managing partner at Archer Energy Solutions, said in his presentation at the Cybersecurity Conference here last week. Miller describes this “logical distance” thus: “when you click an icon and something in the field moves.” He underscores the importance of protecting industries from attacks through digitally connected platforms and automated systems, the theme of the two-day conference organized by Kaspersky Lab ZED. Industrial control systems (ICS) cybersecurity is important, he said on September 20, as more and more devices and systems are connected to a digital space or undergo automation. Implementing connected systems and devices is top priority for industrial organizations this year and the next, according to a Kaspersky Lab study. The market is there and growing, Miller said, citing the same study’s estimates of the global ICS cybersecurity market: at $1.8 billion today.

Automation

ICS generally refers to various types of control systems like an oil and gas pump: each node or action point receives data and subsequent action that is usually a command function. Larger systems are usuH. No.6602

ally operated by “supervisory control and data acquisition,” or Scada, systems or “direct control systems” (DCS) and programmable logic controllers (PLCs). An example is Omron Corp., which has undertaken full automation of its manufacturing, according to the Japanese firm’s general manager Satoshi Kajima. Kajima cited as example Omron’s factory of crops, vegetables and fruits is controlled by PLCs. The factory’s recipe on MRP (materials requirement planning) is installed into PLC, he said, adding that sensors, values and servos are connected to PLC. “And as we made the industrial IOT [Internet of things] mandatory to improve overall equipment efficiency, there are risks: connections outside.”

Attacks

ACCORDING to Kaspersky Lab, more than 40 percent of all ICS computers protected by the Russian cybersecurity firm’s solutions were attacked by malicious software at least once during the first half of this year. The most impacted countries turned out to be Vietnam, Algeria and Sri Lanka, while the safest region for industrial machines was Denmark. “Cyberattacks on industrial computers are considered to be an extremely dangerous threat as they cause material losses and production downtime for a whole system,” a paper by Kaspersky Lab said. “Moreover, industrial enter-

REPUBLIC OF THE PHILIPPINES

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THE Kaspersky Lab headquarters, one of the world’s fastest-growing cybersecurity companies, in Moscow, Russia. TATIANA BELOVA | DREAMSTIME.COM

The country’s national security strategy noted that the Filipinos’ “increased dependence on online connectivity has also made the public, including the government and business sectors, more vulnerable to various forms of web-based crimes.” prises knocked out of service can seriously undermine a region’s social welfare, ecology and macroeconomics.” Statistics collected by Kaspersky Lab researchers show that this kind of threat is of growing concern. In the first half of 2018, 41.2 percent of ICS computers were attacked at least once. Moreover, this is a continuation of a trend: in 2017, the figure increased from 36.61 percent in the first half of the year to 37.75 percent in the second half. Top countries by the number of ICS computers attacked this year H. No.6917

Asia

were: Vietnam, where 75.1 percent of ICS computers were attacked; Algeria, with 71.6 percent; and, Morocco with 65 percent. As for the least attacked industrial facilities, the top three countries turned out to be Denmark with 14 percent attacked computers in industrial enterprises; followed by Ireland with 14.4 percent; and Switzerland close behind, accounting for 15.9 percent. Developing economies account for the highest numbers of ICS computers attacked, while developed regions have the lowest number of targeted ICS computers, the Kaspersky Lab study noted.

REPUBLIC OF THE PHILIPPINES

ANOTHER Kaspersky Lab study revealed that Southeast Asia led regions in experiencing malware attacks in the first half of the year. The company’s ICS Cyber Emergency Response Team (CERT) data showed that worldwide, there was a 41.21-percent increase in the number of ICS computers attacked by malware compared to 36.61 percent in the same period last year. Malware modifications hit 19,400, which is up 1,500 from the second quarter of 2017. During that period, there were 2,400 malware families detected by Kaspersky Lab. By the first quarter of the

H. No.6918

REPUBLIC OF THE PHILIPPINES

CONGRESS OF THE PHILIPPINES

METRO MANILA

SEVENTEENTH CONGRESS

SECOND REGULAR SESSION

Begun and held in Metro Manila, on Monday, the twenty-fourth day of July, two thousand seventeen.

[REPUBLIC ACT. NO. 11070]

[REPUBLIC ACT. NO. 11071]

AN ACT SEPARATING THE HERACLEO CASCO NATIONAL HIGH SCHOOL ANNEX IN BARANGAY SAN ISIDRO, MUNICIPALITY OF STA. MARIA, PROVINCE OF DAVAO OCCIDENTAL FROM THE HERACLEO CASCO NATIONAL HIGH SCHOOL, CONVERING IT INTO AN INDEPENDENT NATIONAL HIGH SCHOOL TO BE KNOWN AS PEDRO MARISCAL NATIONAL HIGH SCHOOL, AND APPROPRIATING FUNDS THEREFOR

AN ACT CONVERTING THE MAMAGUM ELEMENTARY SCHOOL IN BARANGAY MAMAGUM, MUNICIPALITY OF SULTAN NAGA DIMAPORO, PROVINCE OF LANAO DEL NORTE INTO AN INTEGRATED SCHOOL TO BE KNOWN AS MAMAGUM INTEGRATED SCHOOL, AND APPROPRIATING FUNDS THEREFOR

Be it enacted by the Senate and House of Representative of the Philippines in Congress assembled: SECTION 1. The Heracleo Casco National High School Annex in Barangay San Isidro, Municipality of Sta. Maria, Province of Davao Occidental is hereby separated from the Heracleo Casco National High School and converted into an independent national high school to be known as Pedro Mariscal National High School. SEC. 2. All personnel, assets, liabilties, and records of the Heracleo Casco National High School Annex are hereby transferred to and absorbed by the Pedro Mariscal National High School. SEC. 3. The Secretary of Education shall immediately include in the Department's program the operationalization of the Pedro Mariscal National High School, the initial funding of which shall be charged against the current year's appropriation of the Heracleo Casco National High School Annex. Thereafter, the amount necessary for the continued operation of the school shall be included in the annual General Appropriations Act. SEC.4. The Secretary of Education shall formulate the rules and regulations necessary to carry out the purpose of this Act within one hundred twenty (120) days after its effectivity. SEC. 5. This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation.

Be it enacted by the Senate and House of Representative of the Philippines in Congress assembled: SECTION 1. The Mamagum Elementary School in Barangay Mamagum, Municipality of Sultan Naga Dimaporo, Province of Lanao del Norte is hereby converted into an integrated school to be known as Mamagum Integrated School. SEC. 2. All personnel, assets, liabilities, and records of the Mamagum Elementary School are hereby transferred to and absorbed by the Mamagum Integrated School. SEC. 3. The Secretary of Education shall immediately include in the Department's program the operationalization of the Mamagum Integrated School, the funding of which shall be included in the annual General Appropriations Act. SEC. 4. The Secretary of Education shall formulate the rules and regulations implementing the provisions of this Act within one hundred twenty (120) days after its effectivity. SEC. 5. This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation. Approved,

Approved,

PANTALEON D. ALVAREZ

VICENTE C. SOTTO III

Speaker of the House of Representatives

President of the Senate

This Act which originated in the House of Representatives was passed by the House of Representatives and the Senate on December 11, 2017 and May 28,2018, respectively.

MYRA MARIE D. VILLARICA

CESAR STRAIT PAREJA

Secretary of the Senate

Secretary General House of Representatives

Approved: AUGUST 23, 2018

PANTALEON D. ALVAREZ

VICENTE C. SOTTO III

Begun and held in Metro Manila, on Monday, the twenty-fourth day of July, two thousand seventeen.

[REPUBLIC ACT. NO. 11072] AN ACT ESTABLISHING A NATIONAL HIGH SCHOOL IN BARANGAY PAN-AY DAKO, MUNICIPALITY OF CLARIN, PROVINCE OF MISAMIS OCCIDENTAL TO BE KNOWN AS FELINA SEVILLA OAMINAL NATIONAL HIGHS SCHOOL, AND APPROPRIATING FUNDS THEREFOR. Be it enacted by the Senate and House of Representative of the Philippines in Congress assembled: SECTION 1. There is hereby established, under the supervision of the Department of Education, a national high school in Barangay Pan-ay Dako, Municipality of Clarin, Province of Misamis Occidental to be known as Felina Sevilla Oaminal National High School. SEC. 2. The Secretary of Education shall immediately include in the Department’s program the operationalization of the Felina Sevilla Oaminal National High School, the funding of which shall be included in the annual General Appropriations Act. SEC. 3. The Secretary of Education shall formulate the rules and regulations implementing the provisions of this Act within one hundred twenty (120) days after its effectivity. SEC.4. This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in newspaper of general circulation. Approved,

PANTALEON D. ALVAREZ

VICENTE C. SOTTO III

Speaker of the House of Representatives

President of the Senate

Speaker of the House of Representatives

President of the Senate

This Act which originated in the House of Representatives was passed by the House of Representatives and the Senate on January 22, 2018 and May 28,2018, respectively.

MYRA MARIE D. VILLARICA

CESAR STRAIT PAREJA

Secretary of the Senate

Secretary General House of Representatives

This Act which originated in the House of Representatives was passed by the House of Representatives and the Senate on January 22, 2018 and May 28, 2018, respectively.

MYRA MARIE D. VILLARICA

CESAR STRAIT PAREJA

Secretary of the Senate

Secretary General House of Representatives

Approved: AUGUST 23, 2018 Approved: AUGUST 23, 2018

RODRIGO ROA DUTERTE

President of the Philippines

PRRD 2016-006730

President of the Philippines

PRRD 2016-006731

ACCORDING to another Kaspersky Lab study, the largest number of threats comes from the Internet, which over the years has become the main source of infection for ICS: 27 percent of threats are received from the World Wide Web, while removable storage media are ranked second with 8.4 percent. Mail clients occupy third place in terms of volume—they represent 3.8 percent of threats. “The percentage of cyberattacks on ICS computers is a concern,” Kaspersky Lab Security Researcher Kirill Kruglov said. “Our advice is to pay attention to systems’ security from the very beginning of their integration, when the systems’ elements are first connected to the Internet: neglecting security solutions at this stage could lead to dire consequences.” Miller noted that industrial cybersecurity involves a unique set of endpoint devices, network protocols, people, goals and system management constraints. Hence, these are some of the concerns that industrialists need to address. For Edward M. Marszal, however, the point is the design. “Well-designed plants do not need cybersecurity to prevent catastrophic loss of containment,” Marszal, president and CEO of engineering consulting firm Kenexis Consulting Corp., said on September

President of the Philippines

PRRD 2016-006019

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, September 27, 2018

rnet age: Lessons and opportunities 20, the first day of the conference. Likewise, he believes that any system is hackable, or can be hacked. “If it resides in a microprocessor, it’s hackable.” According to Marszal, there are two things that are not hackable: manual operations and humans. “The latter not yet as there are debates on identity theft and the like.”

nology Trends Institute), however, it all boils down to money.

Accession

ANOTHER Kaspersky Lab study noted that only 23 percent of companies the firm surveyed said they are compliant with mandatory industry or governmental guidance or regulations. “In 2017, this result was at a similarly low level, so we see no real improvement in this area,” the cybersecurity firm said. Compliance with voluntary industry or government guidance or regulations has seen a strong decline compared to last year, for which there are three reasons. The first is that mandatory cybersecurity regulations, such as the network and information systems (NIS) directive, are given priority. And as they are expensive to implement, they are eating up all the budget and time of the companies surveyed. The NIS directive is the first piece of European Union-wide legislation cybersecurity, an article on the EU website said. Likewise, in times of internal and external skills shortages, voluntary tasks are the first to be skipped. The third reason is that a lot of guidance and regulations evolve quickly and as such are difficult to follow in full, i.e., being compliant in 2017 does not necessarily mean being so in 2018 as well; no resources are available for additional actions. “With increasing connectivity of operational technology (OT) and ICS (OT/ICS) environments to IT systems and the outside world, conventional malware and virus outbreaks are becoming more and more problematic in the OT/ICS area, too,” the Kaspersky Lab study said. It noted that 64 percent of companies experienced this in the last 12 months, slightly more than a year ago. The same is true for ransomware: 30 percent this year, Kaspersky Lab’s CERT data revealed.

A RAT

HOW does one hack into an ICS? One way, according to Kaspersky Lab, is through legitimate remote administration tools (RATs). “RATs are installed on 31.6 percent of ICS computers, but often remain unnoticed until the organization’s security team finds out that criminals have been using a RAT to install ransomware or cryptocurrency mining software, or to steal confidential information or even money,” the Russian cybersecurity firm said on September 20. Kaspersky said RATs are legitimate software tools that allow third parties to access a computer remotely. They are often used legitimately by employees at industrial enterprises to save resources, but can also be used by malicious actors for stealthy privileged access to targeted computers. RATs are incredibly widespread across all industries: nearly one-third of ICS computers protected by Kaspersky Lab products have RATs installed on them. Even more importantly, almost one RAT in five comes bundled with ICS software by default. This makes them less visible to system administrators and, consequently, more attractive to threat actors. According to the firm, malicious users use RAT software to gain unauthorized access to the targeted network and infect the network with malware (malicious software) to conduct espionage, sabotage and make illegal financial profits through ransomware operations or by accessing financial assets via the networks attacked. For Miguel Garcia-Menendez of independent Spanish think tank Instituto de Tendencias en Tecnologia e Innovación (Innovation and Tech-

H. No.6919

Administration

AN important element in ICS is the role of regulators, according to Garcia-Menendez. However, he muses regula-

tors are myopic in the sense that a “national security strategy [NSS],” which may or may not include defense against cyberattacks, fails to consider global digitization. “Stop calling your security strategy ‘national’ in a borderless [cyber]space.” It’s just that in the Philippines, with the country’s NSS including providing “strong cyber infrastructure and cyber security” in its 12-point national security goals. These goals are woven into national instruments “capable of mitigating the risks, upholding national sovereignty, preserving territorial integrity, backing foreign policy, supporting its development thrusts and protecting public safety and natural resources.” The NSS document released in August this year cites the following instruments: political and legal, diplomatic, informational, intelligence, economic and technological, military and law enforcement, human capital development, legislation, funding and development of strategic industries. This last instrument includes information and communications technology (ICT). The Philippines’s NSS lists 19 strategic industries that the Duterte administration considered as having important sectors that require protection and brought under the aegis of national defense and security. The ICT sector is listed as the 10th strategic industry that requires such, as it is “regarded as the industry of industries for [being] widespread, diverse and embedded in nearly every aspect of the people’s economic, social and political life.”

the candor to admit that its “inability to harness the potentials and thwart the threats from cyberspace could imperil the country’s vital interests, critical infrastructure and installations,” among others. Hence, the government vowed to protect the business and supply chains via the implementation of a program under a National Cybersecurity Plan. It also seeks to strengthen the capabilities of its own CERT “to assess our vulnerabilities and to improve the country’s protection profiles in cyberspace.” However, there is a dearth in the number of practicing cybersecurity professionals in the country. The Duterte administration’s NSS, hence, vows to address this by enhancing and expanding the State’s “pool of ICT experts, especially in the law enforcement and security sectors.” The NSS only cited “collaborative efforts” with the business sector.

Actions

FOR Marszal, any “cybersecurity design should be based on the risk of process.” “Most cybersecurity risks analysis fails to consider the process but rather focuses on ICS equipment,” he said. Marszal noted risks are higher because of two things: there are poorly defined accident scenarios and lack of consideration of inherent safety. Hence, he recommends the use of cybersecurity process hazards analysis (PHA) that Marszal claims can identify process scenarios of cybersecurity concerns. Likewise, he said some functions should not be designed to be hackable or placed in a hackable system, e.g., analog. There should be a combination of hackable and nonhackable equipment and elements, Marszal explained, adding that he is not advocating a return to full manual operation or regressing from automation. “If you have circuits that have shutdown functions, maybe they should not be automated,” he said. “Systems that are important should not go cyber.” Marszal also recommends de-

Acceptance

THE country’s NSS noted that the Filipinos’ “increased dependence on online connectivity has also made the public, including the government and business sectors, more vulnerable to various forms of web-based crimes.” The government has recognized that the “protection of critical infrastructure from cyber attacks and information manipulation has become an urgent imperative.” Still, the government also had

REPUBLIC OF THE PHILIPPINES

H. No.6920

REPUBLIC OF THE PHILIPPINES

signing tamper-proof circuits or installing discrete “components with FPGA [field programmable field array, an integrated circuit designed to be configured by a customer or a designer after manufacturing].” Miller also cautions against usH. No.6971

ing technology to solve all problems. “Industrial cloud will happen; so will emergent intelligence. We can’t solve all problems with technology,” he said. “Maybe the goal is not necessarily security but keeping the system going running and resilient.”

REPUBLIC OF THE PHILIPPINES

CONGRESS OF THE PHILIPPINES METRO MANILA SEVENTEENTH CONGRESS SECOND REGULAR SESSION

Begun and held in Metro Manila, on Monday, the twenty-fourth day of July, two thousand seventeen.

[REPUBLIC ACT. NO. 11076] AN ACT ESTABLISHING A NATIONAL HIGH SCHOOL IN BARANGAY 184, ZONE 19, MARICABAN, PASAY CITY TO BE KNOWN AS PRESIDENT CORAZON “CORY” C. AQUINO NATIONAL HIGH SCHOOL, AND APPROPRIATING FUNDS THEREFORE Be it enacted by the Senate and House of Representative of the Philippines in Congress assembled: SECTION 1. There is hereby established, under the supervision of the Department of Education, a national high school in Barangay 184, Zone 19, Maricaban, Pasay City to be known as President Corazon “Cory” C. Aquino National High School. SEC. 2. The Secretary of Education shall immediately include in the Department’s program the operationalization of the President Corazon “Cory” C. Aquino National High School, the funding of which shall be included in the annual General Appropriations Act. SEC. 3. The Secretary of Education shall formulate the rules and regulations implementing the provisions of this Act within one hundred twenty (120) days after its effectivity. SEC. 4. This Act take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation.

Approved,

PANTALEON D. ALVAREZ

VICENTE C. SOTTO III

Speaker of the House of Representatives

President of the Senate

This Act which originated in the House of Representatives was passed by the House of representatives and the Senate on January 29,2018 and May 28, 2018, respectively.

MYRA MARIE D. VILLARICA

CESAR STRAIT PAREJA

Secretary of the Senate

Secretary General House of Representatives

Approved: AUGUST 23, 2018

RODRIGO ROA DUTERTE President of the Philippines O PRRD 2016-006689

H. No.6921

REPUBLIC OF THE PHILIPPINES

CONGRESS OF THE PHILIPPINES

METRO MANILA

SEVENTEENTH CONGRESS

SECOND REGULAR SESSION

THIRD REGULAR SESSION

SECOND REGULAR SESSION

Begun and held in Metro Manila, on Monday, the twenty-fourth day of July, two thousand seventeen.

[REPUBLIC ACT. NO. 11073]

[REPUBLIC ACT. NO. 11074]

[REPUBLIC ACT. NO. 11075]

AN ACT CONVERTING THE MABUHAY ELEMENTARY SCHOOL IN BARANGAY MABUHAY, MUNICIPALTY OF SULTAN NAGA DIMAPORO, PROVINCE OF LANAO DEL NORTE INTO AN INTEGRATED SCHOOL TO BE KNOWN AS MABUHAY INTEGRATED SCHOOL, AND APPROPRIATING FUNDS THEREFOR

AN ACT ESTABLISHING A NATIONAL HIGH SCHOOL IN BARANGAY BIGNAY, VALENZUELA CITY TO BE KNOWN AS DISIPLINA VILLAGE-BIGNAY NATIONAL HIGH SCHOOL, AND APPROPRIATING FUNDS THEREFOR

AN ACT ESTABLISHING A NATIONAL HIGH SCHOOL IN BARANGAY TIBLAC, MUNICIPALITY OF AMBAGUIO, PROVINCE OF NUEVA VIZCAYA TO BE KNOWN AS TIBLAC NATIONAL HIGH SCHOOL, AND APPROPRIATING FUNDS THEREFORE

Be it enacted by the Senate and House of Representative of the Philippines in Congress assembled:

SECTION 1. There is hereby established, under the supervision of the Department of education, a national high school in Barangay Bignay, Valenzuela City to be known as Disiplina Village-Bignay National High School.

SECTION 1. There is hereby established, under the supervision of the Department of Education, a national high school in Barangay Tiblac, Municipality of Ambaguio. Province of Nueva Vizcaya to be known as Tiblac National High School.

SEC. 2. The Secretary of Education shall immediately include in the Department’s program the operationalization of the Disiplina Village-Bignay National High School, the funding of which shall be included in the annual General Appropriations Act.

SEC. 2. The Secretary of Education shall immediately include in the Department’s program the operationalization of the Tiblac National High School, the funding of which shall be included in the annual General Appropriations Act.

SEC. 3. The Secretary of Education shall formulate the rules and regulations implementing the provisions of this Act within one hundred twenty (120) days after its effectivity.

SEC. 4. This Act take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation.

Be it enacted by the Senate and House of Representative of the Philippines in Congress assembled: SECTION 1. The Mabuhay Elementary School in Barangay Mabuhay, Municipality of Sultan Naga Dimaporo, Province of Lanao del Norte is hereby converted into an integrated school to be known as Mabuhay Integrated School. SEC.2. All personnel, assets, liabilities, and records of the Mabuhay Elementary School are hereby transferred to and absorbed by the Mabuhay Integrated School. SEC. 3. The Secretary of Education shall immediately include in the Department’s program the operationalization of the Mabuhay Integrated School, the funding of which shall be included in the annual General Appropriations Act. SEC.4. The Secretary of Education shall formulate the rules and regulations implementing the provisions of this Act within one hundred twenty (120) days after its effectivity. SEC.5. This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation.

Approved,

PANTALEON D. ALVAREZ

VICENTE C. SOTTO III

Speaker of the House of Representatives

President of the Senate

PANTALEON D. ALVAREZ

VICENTE C. SOTTO III

Speaker of the House of Representatives

President of the Senate

This Act which originated in the House of Representatives was passed by the House of Representatives and the Senate on January 22, 2018 and May 28,2018, respectively.

PANTALEON D. ALVAREZ

VICENTE C. SOTTO III

Speaker of the House of Representatives

President of the Senate

This Act which originated in the House of Representatives was passed by the House of Representatives and the Senate on January 22, 2018 and May 28,2018, respectively.

This Act which originated in the House of Representatives was passed by the House of Representatives and the Senate on January 22, 2018 and May 28, 2018, respectively.

MYRA MARIE D. VILLARICA

CESAR STRAIT PAREJA

Secretary of the Senate

MYRA MARIE D. VILLARICA

Secretary General House of Representatives

CESAR STRAIT PAREJA

Secretary of the Senate

Secretary General House of Representatives

Approved: AUGUST 23, 2018

MYRA MARIE D. VILLARICA

CESAR STRAIT PAREJA

Secretary of the Senate

Secretary General House of Representatives

Approved: AUGUST 23, 2018

RODRIGO ROA DUTERTE

President of the Philippines

PRRD 2016-006738

President of the Philippines

PRRD 2016-006663

President of the Philippines

PRRD 2016-006680

A6 Thursday, September 27, 2018 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

EU’s move to defy Trump benefits PHL

BLOOMBERG story on Monday said that oil traders are predicting the return of $100 per barrel for the first time since 2014, as the Organization of the Petroleum Exporting Countries (Opec) and its allies struggle to compensate for US sanctions on Iran’s exports. The story quoted Mercuria Energy Group Ltd. cofounder Daniel Jaeggi saying, “The market does not have the supply response for a potential disappearance of 2 million barrels a day in the fourth quarter. In my view, that makes it conceivable to see a price spike north of $100 a barrel.” The report said Opec isn’t just grappling with US sanctions cutting Iranian supply. Output in Venezuela is also slumping due to an economic crisis. The biggest source of new global supply, US shale, is also experiencing growing pains as pipeline bottlenecks and work force issues hamper growth. For all these urgent supply pressures, the world’s largest oil producers adopted a sitback-and-wait approach at their meeting in Algiers on Sunday. When Trump announced plans to reimpose sanctions on Iran’s oil exports in May, the market estimated a cut of about 700,000 barrels a day. Recently, however, on the back of Opec’s reticence, the estimate has now moved to as much as 1.5 million to 2 million barrels a day. This prompted global traders to predict oil reaching $90 per barrel by Christmas and $100 in early-2019. This is bad news for oil importing countries like the Philippines, which is currently grappling with high inflation rates. If this happens, it could potentially push more Filipinos into poverty. We fear that oil excise taxes will drown millions of minimum-wage earners following an expected avalanche of price increases if the government won’t apply extraordinary remedies to help them. Belt tightening alone will not do the trick. Pundits said Trump’s decision to unilaterally exit the nuclear deal with Iran caused markets to price in the impact of Iranian crude exports falling following the reimposition of US sanctions. Iran produces around 4 percent of global oil supplies, or about 2.4 million barrels a day. Fortunately, there’s still a good chance intervening events would avert the return of $100 per barrel oil. On Monday five world powers agreed with Iran to establish a financial facility in the European Union (EU) to facilitate payments for Iranian imports and exports, including oil. Foreign ministers from Britain, France, Germany, Russia, China and Iran said in a joint statement that the so-called Special Purpose Vehicle will “assist and reassure economic operators pursuing legitimate business with Iran.” European Union foreign policy chief Federica Mogherini said the financial facility is also aimed at preserving the nuclear agreement. The EU and Iran said the deal is working, and the joint statement noted that the International Atomic Energy Agency has now certified 12 times that Iran is in compliance with its obligations. “In practical terms,” Mogherini said, “this will mean that EU member-states will set up a legal entity to facilitate legitimate financial transactions with Iran and this will allow European companies to continue to trade with Iran in accordance with European Union law and could be open to other partners in the world. “ As pundits are not convinced that Trump can force Opec to change its course, oil prices will likely continue to rise. However, the decision to put up a financial facility in the European Union to facilitate payments for Iranian imports and exports would mean Iran oil won’t disappear in the global market despite Trump’s sanctions. This would help ease a tightening global supply that could adversely affect oil importing countries like the Philippines. Hopefully, we won’t see the return of $100 per barrel oil in 2019.

Since 2005

BusinessMirror A broader look at today’s business

‘Stock Market 009: Fundamental misanalysis’ John Mangun

OUTSIDE THE BOX

HICH superpower is the best? Flying? Telepathy? Invisibility? Strength? Given the opportunity, most of us would seriously consider making a “deal with the devil” to be able to know the future. Imagine holding a copy of the BusinessMirror dated September 27, 2019, one year from today. Stock market investors are constantly looking to find a way to know future stock prices other than relying on your brother-in-law who knows somebody who knows somebody. The two primary schools of thought are “Fundamental Analysis” (FA) and “Technical Analysis.” Probably these should be more accurately called “Fundamental Misanalysis” and “Technical Astrology.” Fundamental Analysis “is a method of evaluating a security in an attempt to assess its intrinsic value, by examining related economic, financial, and other qualitative and

quantitative factors.” The premise is that the “corporate value” will be reflected in the price of the stock. At the outset, FA has a problem. There are also two theories about the basic premise. The “efficient-market hypothesis” says, “asset prices fully reflect all available information.” The stock price already reflects corporate value unless there is some secret information. You buy the stock based on the idea that the current corporate value trend will continue and the price will go higher accordingly. The converse included in that

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Part Two

Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

a high of 116 in April 2009. Had you bought at the 1949 level, the index went from 150 to a peak of 770 in November 1968. But then again had you bought at a PE of 116 in 2009 with the index at 950, the index is now at 3,000. Today the S&P 500 PE is 24. Since the PE is not constant with a clear favorable/unfavorable reading like blood pressure, is the S&P price earnings ratio headed to 116 or to 5.9? This analysis is critical in evaluating a company. FA helps answer the following questions: Is the company’s revenue growing? Is it actually making a profit? Is it able to repay its debts? Is it a strong competitor in its industry? The basic trouble with FA—and we will discuss more of the specific indicators in the future—is that you are not Warren Buffet. Buffet said, “Don’t buy the stock, buy the business.” Except, the two are not the same or sometimes even on the same path. And you buy the stock. 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.

Martial law, human rights and other stark issues

✝ Ambassador Antonio L. Cabangon Chua Publisher

hypothesis is that the market is sometimes “inefficient” in that the price does not reflect the “real value.” So what you need to do is, first, figure out what the company value truly is and then to discern if the sto ck price reflects that value. Assuming also that the “positive corporate value trend” will go into the future, then calculate what the price should be down the road. The most common FA indicator is the price earnings ratio. It is a snapshot of the amount of the earnings per share—total profit divided by the number of shares—then divided into the share price. If the EPS is P5 and the share price is P100, then the PER is 20. Theoretically if the EPS goes to P10 and the PE stays constant, then the price should be P200. There is nothing wrong in looking at a company’s PE ratio. But we tend to think or want to think of it perhaps like a blood pressure reading. The problem is that an adult male with a BP of 180/120 had extreme hypertension with that number 2,000 years ago as he would today. The historical PE of the Standard & Poor’s 500 stock index has ranged between a low of 5.9 in June 1949 to

The Marcos Doctrine: Constitutional Authoritarianism

BROAD during the President’s announcement of martial law, the Secretary of Foreign Affairs told the United Nations General Assembly: “Military hardware, including rockets and rocket launchers, have reached the insurgents in three provinces, enabling them to undertake offensive operations.” Captured documents had indicated that the Communist Party of the Philippines and its military wing, the New People’s Army, had adopted an action plan for 1972 aimed at boosting membership to at least 10,000 with the following timetable: 1. From January to June, armed city partisans and urban guerillas would be recruited and trained on explosives and demolition for sabotage; 2. From July to August, robberies and holdups of banks and attacks on military camps, US bases and towns would be undertaken to generate regional chaos and disorder throughout the country; and 3. From September to October, there would be intensification of sabotage and bombing of government buildings, foreign embassies and public utilities.

With martial law, the President, in one sweep, blocked this plan. Executive Secretary Alejandro Melchor expressed the innermost thoughts of every Filipino: “With martial law, as conceived by President Marcos, we can immediately achieve the goals of the New Society where it would normally take 200 years.”

The tale of a hundred days

A HUNDRED days after martial law, on Sunday, January 7, 1973, President Marcos reported the following achievements to the nation: 1. The most sweeping reforms in the nation’s history “have won the faith of our countrymen, given new purpose to our labors, added new hopes and vision for the future. They, too, have won the respect and

admiration of other peoples.”   2. Firearms totaling over half-amillion have been confiscated from persons unauthorized  to carry such weapons. 3. Private armies and organized crime syndicates  have been dismantled.   4. Public officials found to be corrupt and  notorious have been dismissed from the  service, and hundreds more suspended.   5. The machinery for the country’s most ambitious land-reform program has been installed and going into high gear despite  initial difficulties in implementation.   6. A thorough, top-to-bottom reorganization of the bureaucracy is being implemented according to basic reforms recommended by the Government Reorganization Commission  headed by Executive Secretary Rafael Salas.   7. New concepts aimed at providing fair prices, “socializing prices” to use the term, for the low-income groups have been put into effect, and novel programs by governmental planning and development agencies aimed at revitalizing industries and mechanizing large-scale agricultural production for both domestic and export markets have been  implemented.   President Marcos instituted many reforms, unprecedented in scope, dimension and boldness, including the politically revolutionary concept of organizing citizens’ assemblies in every barrio and the “barangay” in

Manila for national consultations on vital issues. When President Marcos subsequently lifted some effects of martial law to encourage wide and free debates on the pros and cons of the New Constitution, many politicians and ideological camps had taken advantage of the situation to foment anxiety, confusion, discord and even subversion. He revealed that many politicians used the freedom of debate “to resume influence peddling, the procurement of special concessions, privileges and exemptions.” He added: “It [free debate] has allowed a willful abuse of free discussions and debate by allowing ‘argumentum ad hominem’ to take the place of legitimate discussion of issues. It has been misconstrued as a sign for our society to go back to the discredited practice of the past when libel was the governing light of what was supposed to be free speech.” But the momentum was there. It must not be stopped. Stressing that the hundred days must go on to thousands more, President Marcos said: “I invite our people not to slacken in their efforts, neither to lose heart in the success that is ultimately ours. The government, I have said more than once in the past, will break the armed force of the enemy.” After the martial-law proclamation in September, enemies of the State had regrouped and reconstituted to wage open battle with the See “Arillo,” A7

Opinion BusinessMirror

www.businessmirror.com.ph

Energy woes: The PHL faces a dark future

Both tolerant and intolerant Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

Val A. Villanueva

Businesswise

ith soaring inflation and a wobbly economic footing partly brought about by soaring oil prices, the administration of President Duterte is still dragging its feet to find cheaper and clean alternative sources, although some of them are ready and able at short notice.

F we have just seen the contrast between Jesus’ sense of mission in life and His disciples’ preoccupation with themselves, now, we have a study of two strongly contrasting attitudes in Jesus Himself. On the one hand, He exhibits great tolerance toward anyone who comes to the assistance of others, and on the other, He has only intolerance toward those who cause harm to others (Mark 9:38-48).

For goodness by anyone It doesn’t take a genius to figure out how badly we need to come up with quick solutions to meet the projected depletion of power, which could further pull down economic growth. Records show that the country’s current dependable power reserve is very low, between 5 percent and 10 percent only. Compared with other Asian countries, Singapore has at least 50 percent reserve. The Department of Energy (DOE) forecasts we will need 43,765 megawatts of additional power capacity by 2040, up from the existing capacity of 13,877 MW, representing a compound growth rate of 6 percent yearly. The Luzon grid, which accounts for 70 percent of the current capacity, is expected to triple from 9,726 MW to 29,852 MW by 2040, a growth rate of 5 percent per annum. The Malampaya Natural Gas is also fast depleting. That there is an urgent need to build more power plants is an understatement. Although the newly commissioned 420-MW Pagbilao plant in Quezon province has been recently put onstream, the gaping need for power is still worrisome. The Pagbilao plant alone cannot be expected to fill the country’s energy needs. Why another energy project in Pagbilao, Quezon—the Liquified Natural Gas Hub Receiving Terminal which is a 650-MW combined cycle gas-fired power plant—has been unable to get the nod to tap into the existing power grid has been a mystery to its proponent, the Australian-based Energy World Corp. EWC’s liquefied natural gas terminal is now 90 percent complete, and is set to become a hub of LNG distribution around the country once it becomes fully operational. The problem is that it has not yet been allowed to tap into the government’s distribution grid. EWC got the green light from the Energy Regulatory Commission to create a point-to-point transmission facility to connect its 650-MW combined cycle gas plant to the power grid. The government regulatory agency allowed the power company to develop the P694-million transmission facility to connect its power plant to the New Pagbilao Station of the National Grid Corp. of the Philippines. Sources say that unknown and mysterious forces are preventing the company from proceeding with the project. The DOE, National Grid Corp. of the Philippines, the National Transmission Corp. and the Grid Management Committee have yet to act on EWC’s request to tap on the distribution grid, despite its strict compliance with the Department of Environment and Natural Resources’s clean-energy policy directives. As mandated by the DENR, EWC is not allowed to enter into long-term power purchase agreements, but instead must ensure that all power will be sold through the Wholesale Electricity Spot Market (WESM), with the Development Bank of the Philippines and Land Bank of the Philippines to be given the opportunity to invest in, finance and profit

Arillo . . .

continued from A6

government. They went back to their subtle, subversive ways in the universities, in the factories, in the farms of Central Luzon and in the troubled areas in Mindanao and Isabela. But this time, the government

from the project. This has prompted former Quezon Governor Eduardo Rodriguez, whose concern for the economic progress of his province did not end with his term, to make a last-ditch appeal to the national government to finally allow the operation of the LNG hub terminal and power plant facilities. Rodriguez lamented that, while the country now suffers from energy problems, EWC is being deprived of its right to take off, and supply cheaper and cleaner electricity. Funding requirements with local banks and transmission arrangement with various government agencies have been cited as the main cause of delay in the formal operation of the facilities of the power plant project, he said. EWC is developing the first LNG Hub Terminal with full containment and onshore LNG tanks with pumpable capacity of 130,000 cubic meters of LNG each. The plant also consists of a dedicated jetty and marine infrastructure for the loading and unloading of LNG ships, as well as regasification, control center and workshops and other ancillary facilities. Adjacent to the Hub Terminal facility, EWC is also constructing the first LNG Fired Combined Cycle Gas Turbine Power Station with a capacity of 650 MW aimed at providing clean electricity, which will be sold through WESM to the Luzon Grid in line with the DOE’s vision for clean energy in the future. Rodriguez explained that, once the LNG-fired power plant and the hub terminal become operational, the produced gas can also be converted from LNG to CNG (compressed natural gas) that can be used by the transport sector. “Cheaper fuel would mean cheaper amount of the basic commodities. Second, the amount of a CNG tank will be 20 percent cheaper than an LPG tank commonly used by households,” said Rodriguez, adding that its domino effect would be favorable to the Filipinos, especially now that the country is facing high inflation rate. There’s so much at stake! The Duterte administration should act fast to solve the country’s economic woes, partly caused by the upward spiral of world crude oil prices to $70 per barrel last week. This has nudged up the inflation rate, and this rise is not expected to slide down until the end of this year. The bulk of the 6.4-percent inflation rate average last month was due to the sequential weeks of price increases in gasoline, diesel and other oil products. No doubt, the EWC is a strategically important asset for the Philippines’ nascent gas industry. It will be able to handle up to 3 million third party-access tons per annum of LNG. Sadly, recent developments point out that vested interest of powerful families entrenched in the power business has created a big stumbling block in the country’s search for cheaper and clean alternative sources. For comments and suggestions, e-mail me at mvala.v@gmail.com.

had gained advantage, for not only had it shown its sincerity, justice and efficiency in the first 100 days of martial law, it was now infused with a political philosophy.

To be continued

To reach the writer, e-mail cecilio.arillo@ gmail.com.

Thursday, September 27, 2018 A7

Particularly protective of the name of Jesus and of the authority of those chosen by Him to heal the sick and drive evil spirits away (Mark 6:7-11), John reports that they saw someone driving demons out in the name of Jesus, but the man was not a member of their group, so they told Him to cease and desist from any such activity. Whatever may be the good intention of his disciples, this narrow-mindedness did not get the approval of Jesus. Whoever may be the man, He was doing something good by liberating people from the domination of demons, and in the

name of Jesus at that. Such activity should be supported, not stopped. Goodness by anybody is goodness, and must be recognized and even augmented. Nobody has a monopoly in doing what is good, nor should we downgrade the good others do. If the true and the good please our heavenly Father, anyone who does what is good should be considered as a brother or a sister. Respecting their freedom and conscience, those who do good even if they be different from us in race, appellation or religious grouping deserve our appreciation. What ultimately counts is the good done,

as Jesus points out, without asking first for some membership card: “For I was hungry and you gave me food...” (Matthew 25:35-40).

Rejecting evildoers

Jesus identifies so much with the needy anytime and anywhere that He is grateful for any good act to them by anyone. Instead of jealous partisanship, what Jesus wants from His disciples is real concern for the poor. In the context of His thankfulness to anybody who gives even just a glass of water to anyone belonging to Him, we can understand His intolerance toward those who scandalize (literally, “cause to fall”) others, especially his “little ones.” His uncompromising severity against such doers of evil is graphically illustrated by the hyperbole of the fittingness of a mill-stone around the neck of such a person and throwing him/her into the sea. A true oriental, Jesus turns to His disciples and drives home His point against any compromise with evil by dramatically prescribing amputation. If your hand or foot or eye causes you to sin, cut it off! When already infected or gangrenous and threatening to the rest, a part must go for the good of the whole. Bottom line is: better to live an amputee than be a living-dead in Gehenna. This

infamous place known to all the contemporaries of Jesus was the dumpsite of Jerusalem, where the worms do not die and the fire is never quenched, and where Jesus would consign an evildoer as dreg of the community. Alálaong bagá, the appalling plight of the “little ones” in our society suggests a pre-Christian environment, not a nation to celebrate 500 years of the Gospel. The numbing poverty and deprivation, the pervasive violence, the rampant corruption, the mindless raping of our environment, the rancorous deception of the public by alleged leaders, the peddled drugs of destruction, etc., should be outright intolerable to any Christian conscience. Any tolerance in their regard would be a veritable enthronement of the very demons we need to be liberated from. In such life situation, the question and challenge from the Gospel is whether we have the right tolerance and support for all the good being done for others, and the appropriate intolerance against the multifarious evil being perpetrated upon and suffered by the people. Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

With rice tariffication, what happens to food security? Dr. Rene E. Ofreneo

LABOREM EXERCENS Continued from A1

ith the proposed lifting of the quantitative restrictions on rice, the private sector shall be able to import rice— freely so long as it pays for the tariffs set by the government. No more importation monopoly of the National Food Authority (NFA). No more rice inflation? No more rice pilas? Price stability is the main argument of the proponents of rice-importation liberalization. To them, food security is simply the ability of a country to buy agricultural products wherever they are produced, cheaply. This is the theory of the agricultural trade liberalizers. This is the reason the country tariffied agriculture in 1995 (with the exception of sugar and rice), after the Senate ratified Philippine membership in the World Trade Organization (WTO). The proponents of agricultural trade liberalization embellished the food-security argument further by adding that small farmers who cannot compete with cheap producers in other countries need not worry. They can shift to the production of highervalue agricultural products. Accordingly, Philippine agriculture would be a runaway winner under agricultural trade liberalization. They even came up in 1994, at the height of the Senate debates on WTO membership, with the following macroeconomic forecasts: agricultural gross value added of P60 billion a year, agricultural net export earnings of P3.2 billion a year and 500,000 new jobs in the agri sector every year.

And yet, Philippine agricultural performance from 1995 to the present has been dismal, if not catastrophic—widening net agricultural trade deficits, share of the agricultural sector in the GDP shrinking to less than 10 percent, deepening massive poverty in the countryside, and food inflation, averaging close to 5 percent a year from 1995 to 2017. Thus, with rice tariffication, a number of farmer and civil society organizations, such as the Patamaba, Integrated Rural Development Foundation and Freedom from Debt Coalition are raising critical issues, which policymakers are still unable to answer. First, with tariffication, is the government surrendering the entire rice-industry business to the private rice traders, who have a leech-like hold on palay trading, rice storage and rice distribution? Numerous Congressional hearings, from the time of President Corazon Aquino up to the present, have come up with ugly findings on the cartel-like behavior of the traders, including cases of smuggling and collusion with corrupt NFA officials on the hoarding and mislabeling of rice. With the

tariffication and the further downsizing, if not abolition, of the NFA, these traders shall now have the whole business field to themselves —from palay procurement at home to rice importation, from milling to storage and from wholesale to retail distribution. They can dictate the farm-gate prices that palay farmers would get and the prices for various rice varieties that consumers are willing to buy. How can the government then level the playing field? Who will prevent the rice importers-traders from remilling cheap imported rice and mixing this with quality rice produced in the Philippines and sell this as “regular milled rice?” Second, what happens to the goal of rice self-sufficiency? With the influx of cheap imported rice, how can the marginal rice farmers compete? Some of the answers to competitiveness are well-known: better seed varieties, cheap and efficient irrigation, land mechanization, grain dryers, good transport facilities from the farms and quality rice mills. These have been identified and discussed in past studies. These have been the object of the Agriculture and Food Modernization Act and the Agricultural Competitiveness Enhancement Act. And yet, both the billion-peso Afma and Acef programs have failed to deliver the promised modernization and prosperity for the farmers. The culprits: the big C (corruption) and the lack of a strong visionary leadership in the agricultural sector. Now what is the assurance that the so-called tariff revenues to be set aside for the local rice-farming sector shall be able to transform the sector? Most likely, the land areas devoted to rice farming will continue to shrink. The rice industry in Central Luzon and Region 4 has been disappearing since the 1980s

due to urbanization and industrial development. In a study by Elvira Manalad of Paragos-Philippines, huge swathes of rice lands all over the country are also disappearing because of the widespread “conversion” of lands supposedly covered by agrarian reform and the unchecked “land-banking” operations of the big realty companies and housing/ village/resort developers. The rainfed rice lands are the most vulnerable to the agents of these companies and developers. Their job is made easier by the absence of a National Land Use law and the weak monitoring by the Department of Agrarian Reform of the land conversions. So one of the biggest concerns of farm unions and CSOs is the waning capacity of the government, in a liberalized and deregulated economy, to pursue food security and agricultural sovereignty. Like in the United States and other countries, these unions and CSOs define food security as the capacity of the nation to grow its own food and feed its own people. Food security means that whatever the volatility in agricultural commodities in the global market there are, the country will be able to survive because domestic production is stable and sufficient. Of course, food security does not mean stopping all agricultural imports. The point is that the Philippines, given its land resources and know-how, should be able to produce in sufficient quantity its basic food requirements. In the case of rice, the goal of self-sufficiency remains an important one because rice is one of the thinly traded commodities in the world market. Thus, if a rice shortage occurs in the two major sources of imported rice, Thailand and Vietnam, the Philippines is likely to have a political and economic problem that is too hot to handle.

Turkey’s banks get some breathing space at last By Marcus Ashworth Bloomberg Opinion

urkey’s banks are finally catching a break as the country’s tumultuous currency crisis ebbs. But the peace may not last for long. The additional yield, or spread, investors demand to own debt issued by Turkish lenders instead of the comparable government bond has fallen sharply from August’s record level. Investors’ worst fears of an economic implosion that would lead to a painful bailout by the International Monetary Fund—or a bail-in of banks’ subordinated bonds—appear to be ebbing. President Recep Tayyip Erdogan has so far eschewed direct outside aid and,

on Tuesday, Finance Minister Berat Albayrak reinforced the message that the government is ready to provide support, if needed. T he gover nment has a lready eased the rules on how banks report their souring loans, giving them more freedom to grant forbearance on companies’ bad debts. That should help to keep afloat corporate borrowers reeling from the lira’s plunge. It has also dangled the idea of setting up a bad bank that would assume lenders’ most troubled loans—potentially a major positive for the industry. Unfortunately there were no details in Albayrak’s latest economic plan, and Turkey’s top financial regulator, Mehmet Ali Akben, told the

Dunya newspaper that such a move isn’t planned. Action is urgently needed on this vital element in alleviating Turkey’s distressed debt situation if the recent improvement in banks’ credit costs isn’t to be reversed. One important litmus test for the industry is that Akbank Turk AS, the country’s second-biggest lender by market value, looks set to sign a one-year rollover of a foreign currency syndicated loan this week—an indication that foreign capital is available, if at a higher price than before. But make no mistake. This is no return to normality in the long term. A spate of mass bankruptcies has been averted, but lenders’ profits will be severely squeezed in the long term as

nonperforming loans climb. A sharply inverted yield curve will also make it hard for banks to operate. Lenders mostly fund themselves by borrowing at shorter maturities and then lending to customers at longer durations. The central bank’s decision to raise its one-week repurchase rate by 625 basis points to 24 percent on September 13 has helped arrest the lira’s slide and slow the crisis. For the government, the goal is keeping the economy and companies functioning, which means finance has to function, too. So far, Erdogan’s ministers have been able to soothe investors’ nerves—but they will need to follow through with their promises of help if they are to avert another financial crisis.

2nd Front Page BusinessMirror

A8 Thursday, September 27, 2018

‘US-China trade row could hurt Asean growth prospects’

By Cai U. Ordinario

@cuo_bm

HE trade war between the United States and China could undermine the strong economic growth prospects of Southeast Asian countries like the Philippines, according to the United Nations Conference on Trade and Development (Unctad). In its Trade and Development Report (TDR), the Unctad said Asean countries are poised to register high economic growth on the back of strong demand, rising private consumption and infrastructure investments, especially in the Philippines and Indonesia. “But concerns are rising that these trends can be overshadowed by sluggishness in the global economy and the worsening of trade relations between the United States and China, both of which are key

export markets for many countries in the region,” the Unctad said. The Unctad said since 2010, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines and Thailand posted steady high economic growth. Growth in Indonesia, the Unctad said, stood at 5.1 percent in 2017, and is officially estimated at 5.1 percent in the first quarter of 2018, as well. The Unctad said the effects of monetary tightening in the United States also threaten the sustain-

Concerns are rising that these trends [high growth in Asean countries] can be overshadowed by sluggishness in the global economy and the worsening of trade relations between the United States and China, both of which are key export markets for many countries in the region.” —Unctad

ability of growth in the region. “Combined with the effects of rising protectionism in the United States and possible responses, this could adversely impact growth, resulting in levels lower than initially predicted,” the Unctad said. The Unctad said after posting

GDP growth rates of 5.7 and 5.5 percent in 2016 and 2017, developing countries in Asia are expected to sustain that rate in 2018, as well. The trade war between China and the US will likely cause China’s economic growth to slow to 6.7 percent this year, while India’s growth is expected to average 7 percent in 2018. Growth in East Asia is expected to average 5.9 percent in 2018, while growth in Southeast Asia is expected to slow to 4.8 percent this year from the 5.2-percent level recorded in 2017. “Across Asia the problem is not so much a weakening of growth, as fear that interest rate increases and monetary tightening could trigger capital outflows, leading to financial and currency instability,” the Unctad said. The TDR analyzes current economic trends and major international policy issues and suggests ways to address them. The 2018 report includes an examination of how economic power is being concentrated in a smaller number of big international firms and how this impacts the ability of developing countries to benefit from their participation in the international trading system, as well as to gain from new technologies and the digital revolution.

DOLE may lift deployment ban on Micronesia, says Bello

ABOR Secretary Silvestre H. Bello III said they are now mulling over the lifting of the deployment restrictions for Micronesia after getting complaints from overseas

Filipino workers (OFWs) who were affected by it. Bello instructed Philippine Overseas Employment Administration (POEA) Administrator Bernard B.

Olalia to coordinate with the Department of Foreign Affairs (DFA) for the possible resumption of deployment to the small Pacific Island nation. “I asked Olalia to see me and find out

if there is any basis to lift the ban,” Bello told reporters in an interview on Tuesday. The POEA issued the deployment ban against the Federated States of Micronesia last August based on the “strong recommendation” of the DFA for it to do so. The measure is meant to pressure Micronesian authorities to “settle its unresolved cases and improve the working condition of OFWs” there. The DFA flagged Micronesia last year after it failed to address the complaints of OFWs working in the Chuuk State Hospital. Despite the DFA’s intent to protect the rights of OFWs, the deployment ban was met with protest by some affected OFWs. “I got messages [from workers in Micronesia], who said they have no problem while working there since they are being paid well,” Bello said.

Samuel P. Medenilla

www.businessmirror.com.ph

LOCKHEED MARTIN’S PHL PITCH: 4TH-GEN F-16, BLACK HAWKS

RANDY HOWARD, director of Business Development at Lockheed Martin Aeronautics Co. Integrated Fighter Group, takes a break for an interview at the sidelines of the the ADAS 2018 at the World Trade Center. NONIE REYES By Rene Acosta

@reneacostaBM

HE world’s biggest defense contractor offered on Wednesday to fill in the requirement for air assets of the Philippine Air Force in the ongoing capability upgrade of the Armed Forces of the Philippines. American company Lockheed Martin offered its unrivaled fourthgeneration F-16 fighter jets and Black Hawk helicopters from its subsidiary Sikorsky to fill the capability gap of the Air Force. The defense manufacturer was among the exhibitors at the ongoing 3rd Asian Defense, Security and Crisis Management Exhibition and Conference (ADAS) at the World Trade Center in Pasay City. The Department of National Defense is currently looking for sources of attack helicopters for the Air Force after President Duter te scuttled the contract with Bell following the Canadian government ’s pronouncement that it needs to review the contract between the firm and the Philippine government. Canada cited the Duterte administration’s human-rights record as the reason in reviewing the contract. Duterte recently disclosed that top United States officials wrote him a letter, offering to supply the military’s needs for assets and equipment in its ongoing modernization program. While mentioning the F-16, the Commander in Chief said what he wanted are attack helicopters and small planes. While the Air Force has already acquired a squadron of

Korean-made FA-50—a modified and lesser version of the American F-16—the military wanted to beef up its inventory of modern fighter jets. Randall Howard, business development head for the F-16 and the director for business development of Lockheed Martin Aeronautics, said the F-16 should transition Filipino fighter pilots into flying a more sophisticated plane. Lockheed Martin will also beef up the much-needed air power of the Air Force in the league of Singapore, Taiwan, Thailand, South Korea and Japan, which flies the plane in the region. Howard said air forces in 25 countries around the world employ the “most combat-proven in history” F-16 and orders from countries— including Slovakia, which sealed the contract for the delivery of 14 fighter jets two months ago— keep coming. The F-16 shares almost the same platform as the FA-50, except that it is more capable and advanced in almost all aspects compared to its Korean copy. Other than the difference in systems, avionics and capabilities, it carries some of the features of Lockheed Martin’s F-35 fifth-generation fighter jet. On the other hand, Jacob Sifters, regional manager for business development of Sikorsky, said the Black Hawk should meet the requirement for attack, medical evacuation, humanitarian assistance, and search and rescue of the military. The Black Hawk is currently in operation in 31 countries, including Malaysia, Thailand, Singapore, Japan, Taiwan and South Korea.

briefs

➜HIGH PRICES STILL A THREAT HIGH commodity prices will still pose a major threat to economic growth in the last semester, according to a local think tank. In its latest Market Call, First Metro Investment Corp.-University of Asia and the Pacific (FMIC-UA&P) Capital Market Research said inflation is expected to reach 6.2 percent in September; 5.4 percent in October; and 5.2 percent in November. However, the think tank kept its GDP growth forecast at 7.0 to 7.5 percent, still within the government’s target range of 7-8 percent annually starting this year until 2022. It thinks inflation has already peaked in the third quarter, because typhoons will not be as destructive in the fourth quarter. Philippine Statistics Authority data showed inflation reached 6.4 percent in August 2018, bringing the average inflation for the year to 4.8 percent. Cai U. Ordinario

➜COMELEC PILOT TEST FOR VRVS THE Commission on Election (Comelec) will pilot test its new Voter Registration Verification System (VRVS) in 32,000 precincts in the 2019 polls. J. Thaddeus Hernan, chairman of the Special Bids and Awards Committee for Automated Election System, said they opted to limit the VRVS testing to just a third of the 92,509 clustered precincts for budget constraints. These are “in selected areas of Mindanao and practically for the entire ARMM [Autonomous Region in Muslim Mindanao].” Once implemented, Hernan said the VRVS will fast-track the verification process of voters in precincts since it will now be automated. “There will be no more discretion on the

part of the Board of Election Inspectors, or the BEIs, as to the identity of the voters since it will be completed with a mere finger scanning.” The Comelec started on Wednesday the bidding process for the VRVS, which has an approved budget of P1.6 billion. The four service providers that showed up are Megadata Corp., Nextix Inc., Dermalog and the controversial joint venture of Smartmatic International Corp.-Total Informational Management Corp. Some lawmakers want the Comelec to ban Smartmatic for its alleged tampering of the automated election system (AES) in the 2016 polls. Smartmatic has provided services to the Comelec since the country’s first AES in 2010.

Samuel P. Medenilla

➜DAVAO LAWYER SURVIVES SLAY TRY DAVAO CITY—A lawyer here survived an attempt on his life early Wednesday near the city court building, the second lawyer to be targeted by still unknown gunmen this week. The first victim, a woman, was killed on Monday in Tagum City. The Davao City Police Office identified the lawyer here as Wilmer Quiñones Donasco, 44. Investigators from the Talomo Police Station here said Donasco was enroute to the Hall of Justice at 7:30 am when gunmen on a motorcycle pulled alongside his car along Candelaria Street and fired their hand guns. The shooting happened in front of the PNP Crime Laboratory building, near the Hall of Justice and across the Ecoland Bus Terminal. Donasco was not hit but sustained minor wounds from glass shards. Manuel T. Cayon

Editor: Efleda P. Campos

Companies BusinessMirror

Thursday, September 27, 2018

IEMOP takes over electricity spot market

By Lenie Lectura

@llectura

HE Independent Electricity Market Operator of the Philippines Inc. (IEMOP) on Wednesday formally took over the Wholesale Electricity Spot Market (WESM) from the Philippine Electricity Market Corp. (PEMC). The takeover was in compliance with the mandate of Republic

Act 9136, otherwise known as the Electric Power Industry Reform Act

(Epira), for the WESM to be run by an independent operator. “The IEMOP fulfills the promise of Epira to foster competition in the WESM through an independent market operator. Our existence and our service usher in the electricity market’s inevitable transformation to a more competitive state for the ultimate benefit of the electricity consumers,” IEMOP President Francis Saturnino C. Juan said in his message to IEMOP employees on opening day. IEMOP facilitates the registration and participation of generat-

ing companies, distribution utilities, directly connected customers or bulk users, suppliers and contestable customers in the WESM. It also determines the hourly schedules of generating units that will supply electricity to the grid, as well as the corresponding spot-market prices of electricity via its Market Management System. Moreover, it manages the metering, billing, settlement and collection of spot trading amounts for the benefit of the market participants. Under the policy and regulatory oversight of the Department of

DMCI sells 99% of Pasig condo units for ₧7.5B

By VG Cabuag

@villygc

HE real-estate arm of publicly listed DMCI Holdings Inc. said it sold almost all of the units of its condominium development in Pasig. The company said it earned P7.5 billion in sales of Fairlane Residences in Pasig. The single-tower development is already 99-percent sold, with just eight units left of the 1,140 total unit inventory. DMCI Homes President Alfredo Austria attributed the strong reservation sales of the company’s residential projects to the positive feedback of satisfied clients. The company relies on referral marketing to sell its prod-

ucts. “We’d like to think we have gained a strong following because of our track record of building homes that are of high-quality and value for money. Our clients really feel they made the right decision in investing in DMCI Homes,” Austria said. “For us, it has always been about whether we are making our customers happy. With the consistent strong sales of our projects, we feel this is bearing fruit for the company,” he said. The 51-level residential tower along West Capitol Drive offers a mix of two-bedroom and three-bedroom units ranging from 52 square meters to 81 sq m. The units are priced at P7.14 million onwards.

Fairlane Residences is up for completion in 2024. Austria said it features generous living spaces and resort-inspired amenities. The company said it expects to further boost its earnings this year with the consistent strong sales posted by its residential projects. The company posted a net income of P2.48 billion for the first six months of the year, higher than the P1.76 billion it registered last year. Another transportation infrastructure project being constructed near the property is the BGC-Ortigas Center Link Road, which is seen to further improve the intercity travel in Pasig, Mandaluyong, Taguig and Makati.

Energy (DOE) and the Energy Regulatory Commission (ERC), PEMC will remain as governing body for WESM to monitor compliance by the market participants with the market rules. IEMOP is a nonstock, nonprofit corporation governed by a professional board of directors composed of individuals not affiliated with any of the electric companies that trade in the WESM. The IEMOP carries out the mandate to pursue the WESM objective to have a transparent, fair, competitive, and reliable market for the trad-

ing of electricity throughout the Philippines. As market operator, IEMOP is bound to strictly comply with the Epira, its implementing rules and regulations, the WESM rules and other related issuances of the DOE. T he W ESM is a landmark achievement established pursuant to Republic Act 9136. From its commercial operation in 2006, the electricity market has been functioning as a central venue for buyers and sellers to trade electricity as a commodity where prices are based on supply and demand interaction.

DILG, NGCP sign MOU to ensure reliable electricity transmission

HE Department of the Interior and Local Government (DILG) and the National Grid Corp. of the Philippines (NGCP) recently signed an agreement to facilitate ontime project commencement and completion of transmission lines and substation projects. Interior OIC-Secretary Eduardo M. Año appealed to local officials to cooperate with the NGCP to pave the way for the speedy installation of transmission systems in their respective jurisdiction. This includes clearing right-of-way or by simply preventing construction or even planting of trees on the path of the transmission lines to be installed or constructed.

The agreement signed on Tuesday by Año and NGCP President and CEO Anthony L. Almeda aims to ensure the continuous and reliable transmission of electricity in the country. The signing was witnessed by DILG Undersecretary Epimaco Densing III and NGCP Chief Administrative Officer Bryan Andersen Co. The DILG, in its exercise of general supervision over local government units, shall aid the NGCP in the promotion of public safety and uninterrupted transmission of electricity, as well as in protecting the security and integrity of transmission system. Jonathan L. Mayuga

Companies BusinessMirror

Thursday, September 27, 2018

PSE STOCK QUOTATIONS

September 26, 2018

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

59.25 114 81.05 29.2 6.9 12.62 67.4 11.5 43.2 83.65 25.35 156 67.6 1.47 2.37 16.18 4.45 1.54 0.53 816.5 0.94 189 1,850

59.3 114.2 81.5 29.5 7.79 12.64 67.45 11.78 43.4 85.95 25.7 158.5 67.95 1.59 2.54 16.2 4.5 1.65 0.55 845 0.95 190 1,860

59.5 117.3 85 29.85 7.79 12.72 68.6 11.5 44.1 84 26.2 168.8 67.95 1.47 2.5 16.2 4.46 1.64 0.52 845 0.94 189.1 1865

59.5 118 85.05 29.9 7.79 12.74 68.6 11.52 44.1 84 26.45 168.8 67.95 1.47 2.54 16.2 4.75 1.65 0.55 845 0.94 192.8 1,865

57.7 114 81.05 29.5 7.79 12.64 66 11.5 43.2 84 25.3 156 67.5 1.47 2.5 16.2 4.46 1.64 0.52 845 0.93 189.1 1,864

59.3 114 81.05 29.5 7.79 12.64 67.45 11.5 43.2 84 25.35 156 67.6 1.47 2.54 16.2 4.5 1.65 0.55 845 0.94 190 1,864

40,040 1,958,880 1,836,540 84,700 100 686,400 2,348,930 42,600 52,900 310 144,700 1,077,270 6,750 10,000 15,000 2,700 1,354,000 5,000 7,000 50 324,000 360 10

2,360,401.5 225,805,819 151,858,200 (1 2,506,950 779 8,700,628 157,639,701 ( 489,920 2,298,385 26,040 3,759,170 172,193,785 456,549.5 14,700 37,980 43,740 6,278,680 8,240 3,700 42,250 303,760 68,454 18,645

INDUSTRIAL

ALSONS CONS 1.27 1.29 1.29 1.32 1.27 1.27 160,000 206,730 ABOITIZ POWER 34.9 35 36.2 36.2 35 35 2,108,800 75,345,650 BASIC ENERGY 0.218 0.225 0.225 0.225 0.225 0.225 10,000 2,250 ENERGY DEVT 7.06 7.07 7.06 7.07 7.06 7.06 848,500 5,993,411 FIRST GEN 16.82 16.88 16.86 16.88 16.76 16.88 570,200 9,594,046 FIRST PHIL HLDG 64 64.5 64.6 64.6 63.3 64.5 35,720 2,288,914 PHIL H2O 5 5.02 5.05 5.1 5 5 265,000 1,328,953 MERALCO 347.8 348 358 358 348 348 254,510 89,337,372 MANILA WATER 23.75 24.15 23.7 24.05 23.7 24.05 243,000 5,788,305 PETRON 8.8 8.85 9.1 9.1 8.8 8.8 913,900 8,210,597 PETROENERGY 4.12 4.18 4.09 4.27 4.09 4.12 402,000 1,685,000 PHINMA ENERGY 1 1.02 1 1.01 1 1 173,000 173,210 PHX PETROLEUM 10.46 10.5 10.68 10.68 10.28 10.5 414,300 4,328,828 PILIPINAS SHELL 53.25 53.35 53.5 53.5 53 53.25 72,440 3,855,560.5 SPC POWER 5.54 5.6 5.76 5.76 5.6 5.6 98,100 551,796 AGRINURTURE 17.76 17.9 17.9 18.1 17.76 17.9 424,700 7,608,706 CNTRL AZUCARERA 17.96 18 18.66 18.66 17.36 18.48 8,800 157,914 CENTURY FOOD 13.96 13.98 13.96 13.96 13.96 13.96 247,000 3,448,120 DEL MONTE 7.03 7.3 7.57 7.57 7.35 7.35 10,100 74,257 DNL INDUS 9.97 10 10 10.1 9.9 10 1,291,800 12,878,445 EMPERADOR 7.03 7.04 7.01 7.1 7.01 7.04 7,180,500 50,732,644 SMC FOODANDBEV 95.75 96 96.85 96.95 95.3 95.75 335,540 32,136,873 ALLIANCE SELECT 1.04 1.05 1.1 1.1 1.04 1.04 8,950,000 9,458,140 GINEBRA 27.8 27.9 27.95 27.95 27.8 27.8 41,200 1,149,615 JOLLIBEE 266 266.2 268.8 268.8 265.4 266.2 132,640 35,366,650 MACAY HLDG 13 13.8 11.52 13 11.52 13 500 6,352 MAXS GROUP 11.74 11.8 11.9 11.9 11.7 11.74 38,500 453,764 PEPSI COLA 1.79 1.88 1.84 1.88 1.84 1.88 68,000 127,420 SHAKEYS PIZZA 11.88 11.92 12.14 12.14 11.9 11.92 278,200 3,322,026 ROXAS AND CO 2.78 2.79 2.67 2.79 2.67 2.78 3,281,000 9,053,950 RFM CORP 4.8 4.84 4.8 4.84 4.8 4.84 3,187,000 15,297,880 ROXAS HLDG 2.8 3 3 3 3 3 9,000 27,000 SWIFT FOODS 0.124 0.128 0.128 0.128 0.124 0.124 260,000 32,320 UNIV ROBINA 146.5 147.2 150.9 150.9 146 147.2 1,085,780 160,374,620 VITARICH 2.06 2.07 2.07 2.13 2.06 2.06 6,530,000 13,709,750 CONCRETE A 67.45 69.95 67.5 67.5 67.45 67.45 100 6,747.5 CEMEX HLDG 2.4 2.43 2.65 2.65 2.3 2.4 5,386,000 13,382,370(4, EAGLE CEMENT 15.34 15.56 15.34 15.68 15.1 15.56 489,800 7,564,104 EEI CORP 8.42 8.5 8.45 8.5 8.45 8.5 717,800 6,081,105 HOLCIM 6.78 6.9 6.93 6.93 6.88 6.9 92,300 638,614 MEGAWIDE 15.5 15.64 15.68 15.9 15.5 15.5 1,115,100 17,403,546 PHINMA 8.6 8.75 8.6 8.7 8.6 8.7 24,300 210,865 TKC METALS 1 1.01 1.02 1.02 1 1 135,000 135,060 VULCAN INDL 2 2.01 2.26 2.26 2 2 36,503,000 76,419,370 CHEMPHIL 193.2 230 194 194 194 194 70 13,580 CROWN ASIA 1.72 1.74 1.74 1.74 1.74 1.74 1,000 1,740 LMG CHEMICALS 4.9 4.91 4.91 4.93 4.9 4.91 42,000 206,380 CONCEPCION 37 38 39.65 39.65 38 38 9,100 348,080 INTEGRATED MICR 11.96 12 12.1 12.2 11.9 12 1,306,000 15,685,434 IONICS 1.88 1.9 1.92 1.92 1.88 1.88 908,000 1,722,160 PANASONIC 5.99 6.37 6.39 6.39 6.39 6.39 3,600 23,004 SFA SEMICON 1.52 1.57 1.51 1.58 1.51 1.58 87,000 131,680 CIRTEK HLDG 33.45 33.5 34 34.25 33.45 33.5 468,500 15,753,090 HOLDING & FRIMS ABACORE CAPITAL 0.415 0.425 0.435 0.44 0.41 0.425 8,790,000 3,727,200 ASIABEST GROUP 28.75 28.8 26.95 29.45 26.6 28.75 725,500 20,641,605 AYALA CORP 933 940 920 940 917.5 940 480,250 447,239,130 ABOITIZ EQUITY 49 50 51.15 51.15 48.6 50 1,238,110 62,111,069.5 ( ALLIANCE GLOBAL 12.48 12.6 12.7 12.7 12.44 12.6 1,238,800 15,520,750 ANSCOR 6 6.11 6.11 6.11 6.11 6.11 100 611 ANGLO PHIL HLDG 0.89 0.94 0.9 0.94 0.9 0.94 4,000 3,680 ATN HLDG A 1.15 1.16 1.13 1.21 1.06 1.15 49,820,000 57,402,970 ATN HLDG B 1.13 1.16 1.13 1.22 1.06 1.15 8,541,000 9,771,470 4 COSCO CAPITAL 5.83 5.85 5.9 5.9 5.8 5.83 315,200 1,834,309 DMCI HLDG 11.9 11.98 11.98 12 11.8 11.98 1,563,100 18,568,844 FILINVEST DEV 7.11 7.2 7.13 7.2 7.13 7.2 21,300 152,007 FORUM PACIFIC 0.201 0.205 0.203 0.205 0.201 0.205 370,000 74,780 GT CAPITAL 805 810 856 856 800 805 120,470 98,417,835 JG SUMMIT 54.9 55.2 55.8 55.8 53.65 55.2 502,330 27,547,245 JOLLIVILLE HLDG 5.06 5.5 5.55 5.55 5.53 5.53 1,700 9,429 LODESTAR 0.53 0.57 0.57 0.58 0.53 0.57 40,000 21,560 LOPEZ HLDG 4.52 4.53 4.72 4.72 4.53 4.53 913,000 4,202,740 LT GROUP 15.1 15.14 15.2 15.46 15.1 15.14 6,756,000 102,681,216 MABUHAY HLDG 0.58 0.59 0.61 0.61 0.58 0.58 1,623,000 951,190 METRO PAC INV 4.65 4.69 4.95 4.97 4.62 4.65 81,426,000 379,946,820 PACIFICA 0.038 0.039 0.039 0.039 0.038 0.039 7,900,000 304,400 PRIME ORION 2.48 2.5 2.52 2.52 2.48 2.5 1,089,000 2,715,460 PRIME MEDIA 1.2 1.21 1.23 1.23 1.21 1.21 20,000 24,420 SOLID GROUP 1.38 1.4 1.42 1.42 1.38 1.4 62,000 86,920 SM INVESTMENTS 873 873.5 866 873.5 852.5 873.5 510,200 439,175,855 SAN MIGUEL CORP 168.5 169 169.7 169.7 167.5 169 357,070 60,251,191 TOP FRONTIER 279 281 280 281 275 281 4,520 1,263,746 WELLEX INDUS 0.27 0.275 0.285 0.29 0.27 0.27 4,100,000 1,141,250 ZEUS HLDG 0.188 0.2 0.195 0.2 0.187 0.2 1,020,000 192,270 PROPERTY ARTHALAND CORP 0.65 0.66 0.67 0.67 0.66 0.66 52,000 34,330 ANCHOR LAND 11.96 12 11.98 12 11.96 11.96 1,500 17,958 AYALA LAND 40.2 40.45 40 40.45 40 40.45 4,521,200 181,849,675 ARANETA PROP 2.04 2.09 2.04 2.12 2.04 2.09 76,000 159,140 BELLE CORP 2.64 2.67 2.69 2.69 2.62 2.64 2,381,000 6,264,780 A BROWN 0.84 0.85 0.85 0.86 0.84 0.84 1,586,000 1,338,990 CITYLAND DEVT 0.92 0.93 0.94 0.94 0.92 0.92 158,000 145,630 CROWN EQUITIES 0.221 0.226 0.223 0.228 0.222 0.223 600,000 133,950 CEBU HLDG 5.25 5.37 5.25 5.25 5.25 5.25 6,000 31,500 CEB LANDMASTERS 4.32 4.33 4.36 4.45 4.3 4.33 166,000 725,410 CENTURY PROP 0.445 0.45 0.45 0.45 0.44 0.45 4,910,000 2,186,500 CYBER BAY 0.385 0.39 0.4 0.4 0.385 0.39 290,000 113,500 DOUBLEDRAGON 19.6 19.62 21.3 21.3 19.5 19.62 1,672,800 33,780,959 DM WENCESLAO 8.51 8.53 8.53 8.67 8.51 8.51 128,500 1,101,728 FILINVEST LAND 1.42 1.43 1.43 1.43 1.41 1.42 4,453,000 6,335,140 GLOBAL ESTATE 1.11 1.12 1.14 1.14 1.1 1.11 1,354,000 1,501,300 8990 HLDG 7.21 7.4 7.21 7.4 7.21 7.4 300,500 2,201,816 IRC PROP 2.22 2.23 2.36 2.37 2.22 2.22 10,338,000 23,509,010 1 CITY AND LAND 0.92 0.96 0.9 0.96 0.9 0.96 314,000 288,220 MEGAWORLD 4.37 4.4 4.4 4.48 4.35 4.4 14,443,000 63,718,040 MRC ALLIED 0.64 0.65 0.72 0.73 0.64 0.64 275,350,000 184,623,890(1, PHIL ESTATES 0.455 0.46 0.465 0.465 0.455 0.46 270,000 123,350 PRIMEX CORP 4 4.01 4.44 4.58 4 4.01 10,075,000 44,137,680 ROBINSONS LAND 19.62 19.64 19.42 19.7 19.18 19.62 1,609,500 31,435,486 PHIL REALTY 0.43 0.44 0.44 0.44 0.43 0.44 370,000 160,900 ROCKWELL 1.93 1.94 1.94 1.98 1.92 1.94 59,000 114,090 SHANG PROP 3.18 3.19 3.19 3.2 3.18 3.2 57,000 181,560 STA LUCIA LAND 1.12 1.15 1.16 1.16 1.12 1.15 527,000 599,890 SM PRIME HLDG 36.65 36.85 36.4 36.85 35.5 36.85 10,380,100 374,898,490 STARMALLS 6.39 6.4 6.55 6.55 6.39 6.4 211,600 1,363,403 SUNTRUST HOME 0.75 0.78 0.75 0.78 0.75 0.75 197,000 147,780 VISTA LAND 6 6.05 6.17 6.17 5.97 6.05 3,760,500 22,660,337 SERVICES ABS CBN 20.9 21 21.1 21.1 20.9 20.9 238,200 5,001,180 GMA NETWORK 5.37 5.38 5.35 5.39 5.34 5.38 72,000 386,194 MLA BRDCASTING 16.38 17.46 16.36 16.36 16.36 16.36 600 9,816 GLOBE TELECOM 2,066 2,076 2180 2,200 2,066 2,066 33,140 69,509,700 PLDT 1,365 1,370 1412 1,412 1,363 1,365 37,680 51,841,810 APOLLO GLOBAL 0.043 0.044 0.044 0.044 0.043 0.044 5,700,000 249,200 DFNN INC 8.66 8.85 9 9 8.83 8.85 50,200 445,057 ISLAND INFO 0.116 0.117 0.119 0.119 0.116 0.117 1,230,000 143,930 ISM COMM 2.87 2.92 3.05 3.05 2.81 2.87 6,099,000 17,753,000 JACKSTONES 3.33 3.57 3.33 3.58 3.32 3.58 38,000 130,410 NOW CORP 7.3 7.31 7.61 7.66 7.28 7.3 1,421,600 10,484,628 TRANSPACIFIC BR 0.52 0.53 0.51 0.54 0.51 0.52 15,791,000 8,294,990 PHILWEB 4.4 4.45 4.31 4.45 4.31 4.4 156,000 682,420 2GO GROUP 11.62 11.64 11.66 11.66 11.56 11.64 35,800 416,450 CEBU AIR 72.1 72.2 72 72.2 71.9 72.1 112,130 8,079,903 CHELSEA 5.5 5.55 5.51 5.77 5.49 5.5 2,337,600 13,066,674 INTL CONTAINER 90.6 91.5 91 91.5 90.5 91.5 548,260 49,812,907.5 LBC EXPRESS 14.2 14.9 14.2 14.2 14.2 14.2 14,100 200,220 LORENZO SHIPPNG 0.93 0.95 1.01 1.01 0.93 0.95 166,000 155,480 MACROASIA 16.04 16.06 16.1 16.2 16 16.06 876,000 14,070,126 ( METROALLIANCE A 1.49 1.5 1.54 1.54 1.41 1.49 95,000 140,650 METROALLIANCE B 1.48 1.5 1.52 1.52 1.46 1.48 65,000 96,600 PAL HLDG 8.2 8.4 8.9 8.9 8.4 8.4 2,800 24,572 HARBOR STAR 2.72 2.73 3 3 2.6 2.72 4,411,000 12,301,900 ACESITE HOTEL 1.35 1.43 1.36 1.43 1.35 1.43 8,000 11,210 BOULEVARD HLDG 0.061 0.062 0.06 0.061 0.06 0.061 9,830,000 590,620 DISCOVERY WORLD 2.23 2.33 2.23 2.23 2.23 2.23 3,000 6,690 WATERFRONT 0.67 0.68 0.68 0.69 0.67 0.67 1,751,000 1,191,150 CENTRO ESCOLAR 7.15 7.95 7.95 7.95 7.95 7.95 1,000 7,950 STI HLDG 0.86 0.87 0.91 0.91 0.84 0.86 15,338,000 13,448,390 BERJAYA 1.93 1.94 2.05 2.07 1.92 1.93 5,943,000 11,700,510 BLOOMBERRY 8.64 8.7 8.91 8.91 8.57 8.7 6,352,300 55,310,570 PACIFIC ONLINE 10.8 10.98 11 11.04 10.8 10.8 90,800 999,696 LEISURE AND RES 3.61 3.67 3.74 3.74 3.6 3.62 665,000 2,423,400 MANILA JOCKEY 5.4 5.6 5.79 5.79 5.35 5.6 588,800 3,291,210 MELCO RESORTS 7 7.01 7 7.02 7 7 5,187,900 36,329,340 PREMIUM LEISURE 0.87 0.88 0.89 0.89 0.87 0.87 1,061,000 926,320 TRAVELLERS 5.2 5.23 5.2 5.25 5.17 5.2 868,300 4,511,208 METRO RETAIL 2.45 2.46 2.5 2.5 2.45 2.46 204,000 502,690 PUREGOLD 44.95 45.7 45 45.7 44.05 45.7 770,300 34,829,375 ROBINSONS RTL 79.2 79.4 79.5 79.55 78.7 79.4 1,226,470 97,379,442.5 ( PHIL SEVEN CORP 101.8 101.9 102 102 101.9 101.9 820 83,599 SSI GROUP 2.2 2.21 2.19 2.23 2.16 2.2 5,206,000 11,447,950 WILCON DEPOT 10.04 10.1 10.3 10.4 9.98 10.04 2,357,300 23,627,677(4, APC GROUP 0.475 0.48 0.485 0.49 0.475 0.48 1,690,000 815,200 EASYCALL 21.3 22.15 23.4 23.4 20.15 22.15 76,900 1,650,060 GOLDEN BRIA 310 311 314 314 308 313.8 960 297,528 IPM HLDG 7.65 7.8 7.75 7.75 7.7 7.7 10,000 77,250 PAXYS 3.05 3.24 3.08 3.08 3.04 3.05 408,000 1,245,450 PRMIERE HORIZON 0.375 0.4 0.39 0.405 0.375 0.375 4,360,000 1,678,250 SBS PHIL CORP 7.79 8 7.99 8 7.99 8 2,500 19,986 MINING & OIL ATOK 16.24 17.9 17.5 18 17.5 18 3800 66650 ATOK 18.3 18.48 18 18.48 18 18.3 14,300 261,468 APEX MINING 1.48 1.5 1.48 1.5 1.46 1.48 929,000 1,375,590 ABRA MINING 0.0023 0.0024 0 0.0023 0.0023 0.0023 0.0023 5,000,000 11,500 ATLAS MINING 3.02 3.08 3.12 3.12 3.08 3.08 96,000 296,840 BENGUET A 1.02 1.15 1 1 1 1 9,000 9,000 BENGUET B 1.04 1.29 1.01 1.04 1.01 1.04 27,000 27,480 COAL ASIA HLDG 0.295 0.305 0.295 0.295 0.295 0.295 110,000 32,450 CENTURY PEAK 1.92 1.94 1.93 1.93 1.92 1.92 183,000 351,950 DIZON MINES 7.2 7.21 7.3 7.36 7.21 7.21 13,100 95,322 FERRONICKEL 1.85 1.87 1.88 1.88 1.84 1.85 2,868,000 5,321,900 GEOGRACE 0.203 0.206 0.202 0.206 0.201 0.203 470,000 95,140 LEPANTO A 0.11 0.115 0.11 0.11 0.11 0.11 100,000 11,000 LEPANTO B 0.113 0.12 0.113 0.113 0.113 0.113 10,000 1,130 MANILA MINING A 0.007 0.0082 0 0.0073 0.0073 0.007 0.007 69,000,000 484,300 MANILA MINING B 0.0073 0.0079 0 0.0073 0.0073 0.0073 0.0073 2,000,000 14,600 MARCVENTURES 1.2 1.3 1.3 1.3 1.2 1.3 16,000 20,700 NIHAO 1.09 1.14 1.11 1.16 1.11 1.14 91,000 103,410 NICKEL ASIA 4.43 4.49 4.55 4.59 4.41 4.43 219,000 975,410 OMICO CORP 0.63 0.65 0.7 0.73 0.63 0.65 4,951,000 3,228,470 ORNTL PENINSULA 1.09 1.11 1.13 1.16 1.09 1.09 1,058,000 1,171,150 PX MINING 3.38 3.39 3.39 3.4 3.36 3.39 2,019,000 6,844,390 SEMIRARA MINING 26.95 27.05 27.45 27.6 26.75 26.95 402,300 10,852,610 UNITED PARAGON 0.0065 0.0068 0 0.0065 0.0065 0.0065 0.0065 7,000,000 45,500 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.012 161,300,000 1,935,900 ORNTL PETROL B 0.012 0.014 0.012 0.012 0.012 0.012 5,000,000 60,000 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 42,600,000 480,000 PHINMA PETRO 3.43 3.5 3.69 3.69 3.5 3.5 94,000 342,920 PXP ENERGY 15.58 15.66 15.9 15.9 15.38 15.58 965,500 15,048,214

PREFFERED HOUSE PREF A AC PREF B1 AC PREF B2 DD PREF SMC FB PREF 2 FGEN PREF G GLO PREF P GTCAP PREF B LR PREF PNX PREF 3B PCOR PREF 2B SFI PREF SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2F SMC PREF 2H SMC PREF 2I

95 485 492 100.4 982 101 490 932 1.01 102.2 1,011 1.85 75.1 78.05 72.15 75 74.55 74.1

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR

19.52

96 495 500 100.5 1,000 103 497 945 1.04 104 1,047 2 75.15 78.15 75 75.35 75 75 20

95 485 493 101.5 1000 101.1 490 945 1.04 104 1010 1.85 75.15 78.15 72.05 75 74.55 74.9 19.5

96 485 495 101.5 1,000 103 490 945 1.04 104 1,010 1.85 75.15 78.15 75 75 75 75

95 485 493 100.4 1,000 101 490 945 1.04 104 1,010 1.85 75.1 78.1 72.05 75 74.55 74.6

19.8

19.42

96 485 495 100.5 1,000 103 490 945 1.04 104 1,010 1.85 75.1 78.15 75 75 75 75

2.36

19.7

SMALL & MEDIUM ENTERPRISES ITALPINAS 5.34 XURPAS 2.41 108.5

475,080 190,845,090 18,905,407.5) (225,878) ,899,900.0001 35,058 (7,402,248) (29,306,350) (4,905,543.5) (1,249,030) (1,127,976) (45,000) (160,033,880) (97,411,860) (6,389,990) (20,099.9997) 144,490 2,628,270 126,630 (235,950) (7,536,437) (3,656,500) (346,982) ,786,830.0001 41,128,380 722,139.9999) 1,293,580 (14,589,482) 17,400 6,360 (9,771,695) (153,840) (9,025,167) (12,579,460) (37,168,415) 328,510 16,674 (128,170) 46,520 2,293,439 34,000 (607,105.5) 261,489.9997) (17,800) (510,910) (233,440) 2,842,780 (23,160) (3,354,974) (109,660) (1,960,049) (23,246,817) (85,250) (519,620) (9,840) 10,845,240 19,181,820.5) (61,171) 3,545,530 967,273.9996) 488,000 (6,200) 3,120 (3,081,090) 4,020 11,100 (80,040) (6,780) (5,978,860) (60,000) (217,800) (143,910) 888,174

78,220 2,003,050 217,280 1,525,393 5,000 385,777 137,200 9,450 3,120 1,758,640 20,200 3,700 491,156 639,973.5 81,632 75,000 2,395,822.5 2,650,350

(3,700) (3,006) -

29,600

579,752

(403,656)

2.43

2.35

2.43

241,000

577,010

(118,620)

5.35 2.42

5.55 2.28

5.64 2.55

5.35 2.28

5.35 2.42

1,417,600 9,282,000

7,792,438 22,413,610

16,325 (1,064,030)

EXHANGE TRADE FUNDS FIRST METRO ETF

42,425,930 (8,472) (2,642,910) 999,541.4999 (19,176,102) 4,600,275 3,527,821 (506,981.5) (490,206) 897,844 4,188 (4,776,308) (4,232,448) 3,566,891 206,740 (15,705,402) (220,650) (1,456,932) (8,340) (57,680) 5,951,119 (73,580) 770,450.0001) 132,476 (5,336,380) (158,488) (7,462,100) (702,290) (348,080) 9,043,584 (143,080) 16,900

820 4,130 440 15,160 5 3,800 280 10 3,000 16,910 20 2,000 6,540 8,190 1,090 1,000 31,950 35,430

WARRANTS LR WARRANT

2,229,604.5 (64,220,470) 12,356,705.5) (763,115) (1,286,306) 49,996,625.5) (234,500) (3,065,995) (68,396,084) (42,562) 14,700 (43,740) 233,200 -

108.6

110

110.1

108.2

108.5

8,390

919,502

www.businessmirror.com.ph

GESC to continue supplying electricity to Robinsons Land

By Lenie Lectura

@llectura

LOBAL Energy Supply Corp. (GESC), the retail energy arm of Global Business Power Corp. (GBP), will continue to supply power to Robinsons Land Corp. (RLC) under an amended power-supply agreement (PSA). Both agreed to renew their PSA, with GESC supplying RLC 26 megawatts from the previous 22 MW. The contract covers Robinsons malls and Universal Robina Corp. factories located in Bacolod, Tacloban, Roxas, Iloilo and Cebu. “This partnership harnesses

various synergies and builds on our respective strengths to accelerate growth not just in the Visayas, but ultimately, the entire country,” GBP President Jaime T. Azurin said. “We look forward to working with GBP to help meet our energy requirements,” RLC President and

GMA partners with Twitter to expand video content in Aspac By Lorenz S. Marasigan @lorenzmarasigan

ROADCASTING network GMA Network Inc. has struck a partnership deal with Twitter to expand the microblogging platform’s video content initiative in Asia Pacific, senior executives of both companies said on Wednesday. Through the deal, the Gozon-led network was enrolled in the Twitter Amplify Publisher Program, which, in a nutshell, provides another avenue to make the company’s content more visible and engaging. This is also a way of helping ease monetization efforts for the network’s online content. The program is a “turn-key solution” for advertisers to align with brand-safe content, GMA New Media Inc. Vice President Marilyn See said. She said the company “sees so much potential” in the future in terms of creating incremental revenues and achieving campaign objectives.

“With Twitter Amplify, advertisers can sponsor GMA’s special video content on Twitter through pre-roll ads and hashtag campaigns that can be shown to their target audiences,” See said. She added that adding Twitter in a brand’s campaign mix allows it to reach its target audience on TV and online. “We will offer this to clients in the fourth quarter,” See added. Senior Vice President Dennis Caharian noted the partnership with Twitter will help further expand the fan base of the network’s shows and programs, noting the social-media site drives both interest and audience insight. “We keep finding ways to better reach and engage with the fan base of our entertainment programs, and provide public service to Filipinos worldwide,” he said. GMA is now looking for other ways to increase revenues, as advertisers are slowly pulling out ads on television due to the perceived slowdown in consumer sales brought about by a few bumps in terms of economic growth.

SM Prime to launch new office buildings in Pasay

M Prime Holdings Inc. on Wednesday said it expanded its office portfolio with the launch of office building Three E-Com Center, and the topping off of the Four E-Com Center at the Mall of Asia (MOA) Complex in Pasay. Both buildings are designed by the renowned architectural firm, Arquitectonica. These two new offices will add 114,000 square meters and 190,000 sq m of gross floor area, respectively, to the company’s growing office-building footprint. “The launch of Three E-Com Center and the topping off of Four E-Com Center mark another milestone for SM Prime as these uniquely designed business centers add to the already captivating architectural landscape in the MOA Complex, as well as offering ample office space suitable for the growing needs of the outsourcing industry and other businesses. We are happy to share that other than being Philippine Economic Zone Authority [Peza]-accredited buildings, Three E-Com Center is a Gold LEED certified building as well, while Four E-Com Center is also in the process of joining the ranks of ‘green’ office

buildings in the Philippines,” SM Prime President Jeffrey C. Lim said. Three E-Com Center is a 15-story, semicircular twin-tower commercial building offering large, continuous office floor plates and designed to address specific site constraints. It will open with 97 percent of its space leased out. The center is a Peza-accredited and Gold Leadership in Energy and Environmental Design certified office building. The company is topping off the Four E-Com Center, the biggest office building of SM Prime so far. It is also a 15-story, three-tower office building offering a typical 3,000 sq m of floor plate suited for various companies, such as technology-based offices. It is set to be launched in 2019. Currently, SM Prime operates 10 office buildings in different key areas in the country including Makati City, Pasay City, Quezon City, Taguig City, Clark in Pampanga, Taytay in Rizal and Santa Rosa in Laguna. Including Three E-Com Center, SM Prime’s office building portfolio has a total gross floor area of almost 595,000 sq m. VG Cabuag

PetroEnergy, partners to drill 4 wells in West Africa

UBLICLY listed PetroEnergy Resources Corp. and partners will drill four wells in the first two years of the consortium’s amended Production Sharing Contract (PSC) in Gabon, West Africa. PetroEnergy is part of the Etame Marin consortium that already produced more than 100 million barrels of oil in Gabon since oil production started in 2002. PetroEnergy holds a 2.525-percent participating interest in the Etame Marin block. The other members and their respective participating interests are Addax Petroleum Etame Inc. (33.9 percent); Sasol Gabon SA (30 percent); and Operator Vaalco Gabon SA (33.575 percent).

The government of Gabon had just extended the consortium’s PSC to explore three producing oil fields—Etame, Avouma/Tchibala and Ebouri—for another 10 years, with two additional five-year options. The amendment PSC also commits the consortium partners to undertake new drillings and technical studies to be completed within two years from the effectivity of the amendment. “Given past production from the block, the consortium is confident the committed drilling program for two development wells and two appraisal wells will further enhance the field’s long-term commercial value,” PetroEnergy stated. Lenie Lectura

CEO Frederick D. Go said. Azurin highlighted that the renewal of the PSA comes at a time when GBP has realigned its vision to become a total sustainable energy solutions provider and offer more flexibility to its customers. Recent economic data from the National Economic and Development Authority showed that the country’s growth domestic product grew 6.7 percent in 2017 on the back of brisk economic activities particularly related to manufacturing, construction and retail trade. The Visayas region mirrored the country’s robust growth, with Central and Western Visayas, where

MUTUAL FUNDS

GBP and RLC have key operations, recording 5.1- percent and 8.4-percent growth in regional domestic product in the same year. Western Visayas is now the fourth fastestgrowing region in the country. “We thank Robinsons Land for their continued trust in GBP to supply their power requirements,” Azurin said. “This highlights our capability in providing our customers with reliable energy at competitive rates.” GBP operates 11 power-generation facilities in Cebu, Iloilo, Aklan and Mindoro. In 2017 the company acquired a 50-percent stake in Mindanao-based Alsons Thermal Energy Corp.

September 26, 2018

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC * 248.73 -12.58% 0.13% 0.98% -15.17% ATRAM ALPHA OPPORTUNITY FUND, INC.* 1.3922 -14.65% 4.2% 1.95% -12.81% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC.* 3.8602 -13.21% 1.58% -0.06% -15.95% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP.* 0.8951 -11.06% N.A. N.A. -11.99% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. * ********* 0.815 N.A. N.A. N.A. N.A. FIRST METRO SAVE AND LEARN EQUITY FUND,INC.* 5.1392 -10.62% -0.79% 0.35% -14.53% MBG EQUITY INVESTMENT FUND, INC. * ****** 116.07 N.A. N.A. N.A. N.A. ONE WEALTHY NATION FUND, INC.* 0.8218 -15.82% N.A. N.A. -17.22% PAMI EQUITY INDEX FUND, INC.* 48.5014 -10.79% 1.12% N.A. -13.99% PHILAM STRATEGIC GROWTH FUND, INC.* 504.84 -11.54% -0.29% -0.16% -14.21% PHILEQUITY DIVIDEND YIELD FUND, INC.* 1.2355 -9.38% 1.54% N.A. -12.02% PHILEQUITY FUND, INC.* 36.0698 -8.82% 2.04% 2.84% -12.23% PHILEQUITY PSE INDEX FUND INC.* 4.8798 -11.03% 1.89% 2.87% -14% PHILIPPINE STOCK INDEX FUND CORP.* 814.39 -10.97% 1.64% 2.56% -13.89% SOLDIVO STRATEGIC GROWTH FUND, INC. * 0.8387 -10.59% -1.02% N.A. -13.28% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC.* 3.9919 -9.88% 1.31% 1.41% -12.84% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC.* 0.9393 -11.14% 1.71% N.A. -14.09% UNITED FUND, INC.* 3.4285 -7.71% 2.43% 0.98% -11.96% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC.* *** ● 108.8701 -10.37% 2.87% N.A. -13.56% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC.** $1.0145 -4.15% 5.02% 1% -8.46% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC.* $1.305 8.86% N.A. N.A. 3.15% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC.* 1.6419 -10.06% -2.57% -1.77% -11.89% ATRAM PHILIPPINE BALANCED FUND, INC.* 2.1949 -9.06% 0.59% 0.32% -10.67% FIRST METRO SAVE AND LEARN BALANCED FUND INC.* 2.5058 -7.5% -2.49% -2.4% -9.53% GREPALIFE BALANCED FUND CORPORATION* **** 1.3047 -9.18% N.A. N.A. -10.32% NCM MUTUAL FUND OF THE PHILS., INC* 1.825 -6.09% 0.51% 0.22% -8.41% PAMI HORIZON FUND, INC.* 3.4811 -9.53% -1.17% -0.8% -11.15% PHILAM FUND, INC.* 15.5904 -9.89% -1.26% -0.89% -11.2% SOLIDARITAS FUND, INC.* ******** 2.041 -7.37% 0.55% 1.79% -8.97% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC.* 3.6117 -7.5% -0.15% 0.3% -9.62% SUN LIFE PROSPERITY DYNAMIC FUND, INC.* 0.919 -7.58% -0.47% N.A. -9.93% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC.* $0.03507 -2.88% -0.04% 2.29% -2.85% PAMI ASIA BALANCED FUND, INC.* $0.9812 -4.25% 3.64% -0.58% -6.28% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC.* $3.6883 4.9% 6.37% 3.72% 0.98% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC.* $1.0957 0.18% N.A. N.A. -1.48% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC.* 341.46 1.59% 1.8% 1.72% 1.29% ATRAM CORPORATE BOND FUND, INC.* ******* 1.8551 -1.88% -1.18% -0.32% -1.97% COCOLIFE FIXED INCOME FUND, INC.* 2.9328 5.42% 5.34% 5.32% 3.93% EKKLESIA MUTUAL FUND INC.* 2.1212 0.08% 1.08% 1.1% 0.9% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC.* 2.2175 0% 0.06% 0.24% 0.06% GREPALIFE FIXED INCOME FUND CORP.* P 1.5737 -2.19% -1.58% -1.55% -2.22% PHILAM BOND FUND, INC.* 3.8667 -5.53% -1.74% -0.8% -4.53% PHILEQUITY PESO BOND FUND, INC.* 3.4634 -1.31% -0.61% -0.02% -1.18% SOLDIVO BOND FUND, INC. * 0.8874 -4.93% -2% N.A. -3.88% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC.* 2.7575 -0.43% -0.01% 0.31% -0.7% SUN LIFE PROSPERITY GS FUND, INC.* 1.5301 -1.12% -0.48% -0.33% -1.26% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. * $445.25 0.14% 2.26% 3.16% -0.15% ALFM EURO BOND FUND, INC. * Є213.09 0.5% 1.29% 1.68% -0.29% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC.** $1.1212 -1.1% 1.05% 1.83% -1.14% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC.* $0.0248 -1.2% 0.68% N.A. -0.8% GREPALIFE DOLLAR BOND FUND CORP.* $1.6966 -5.08% -0.36% 1.48% -4.23% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC* $1.0289 -4.85% -1.3% -2.58% -4.15% PHILAM DOLLAR BOND FUND, INC.* $2.1674 -3.64% 0.8% 2.78% -3.71% PHILEQUITY DOLLAR INCOME FUND INC.* $0.0568592 -0.98% 0.93% 2.02% -0.6% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC.* $2.8899 -4.7% 0.66% 2% -4.08% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC.* 119.81 2.31% 1.65% 1.45% 1.87% PHILAM MANAGED INCOME FUND, INC.* 1.1727 1.66% 0.34% 0.36% 1.32% SUN LIFE PROSPERITY MONEY MARKET FUND, INC.* 1.2079 2.37% 2.13% 1.36% 1.89% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC.* ***** $1.0105 N.A. N.A. N.A. 1.18% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

The World BusinessMirror

www.businessmirror.com.ph

Report: Long trade war would hurt America more than China

RANKFURT, Germany—A fierce global trade war would hurt the United States economy significantly, making households poorer and destroying jobs, while China would not suffer as much, according to a simulation carried out by economists at the European Central Bank (ECB). In research published on Wednesday, the economists said that stock and bond markets could be hurt by a general loss of confidence in the economy. “An escalation of trade tensions could have significant adverse global effects” on growth, the authors said. One particular conclusion was that the country starting the trade war would wind up worse off than before. While details could vary, “qualitatively the results are unambiguous: an economy imposing a tariff that prompts retaliation by other countries is clearly worse off. Its living standards fall and jobs are lost.” US P resident Don a ld J. Trump, carrying through on campaign rhetoric, has slapped tariffs on imported steel and aluminum, and on a range of Chinese high-tech goods. His stated goal is to protect US companies and workers from what he sees as unfair trade, and to use

the tariffs as a lever to push for new trade arrangement. The ECB study’s authors, however, said those initial measures should have only “marginal” effects on the global economy because the goods affected represent a small part of global trade. The study didn’t include the 10-percent tariffs Trump announced on Monday on $200 billion worth of Chinese goods and China’s $60 billion in retaliatory tariffs on US goods. The US tariffs would rise to 25 percent in January if Beijing does not offer concessions. The researchers used computer models developed by the International Monetar y Fund and the ECB itself. They ran a scenario in which the US slaps a 10-percent tariff on all imports and all trade partners respond in kind. That scenario is only hypothetical, they said, but the results were significant: a 2-percent loss in growth in the first year for

FED SEEMS POISED TO RAISE RATES FOR 3RD TIME THIS YEAR

A S H I N G TO N —Th e Fe d e r a l Reserve is set on Wednesday to raise interest rates for a third time this year and possibly modify the likely direction of rates in the months ahead. The big question is whether the strong US economy, which has been fueled this year by tax cuts and increased government spending, could weaken next year, especially if President Donald J. Trump’s trade fights begin to inflict damage and the benefits of tax cuts start to fade. If the Fed finds that prospect likely, it might signal on Wednesday that it expects to slow its rate increases next year. The Fed’s key short-term rate—a benchmark for many consumer and business loans—now stands in a range of 1.75 to 2 percent after two quarter-point increases in March and June. A similar rate hike on Wednesday would raise that range to a still-low 2 to 2.25 percent. Many analysts expect the economy to eventually weaken, in part from the effects of the conflicts Trump has pursued with China, Canada, Europe and other trading partners. If the economy should slow sharply in 2019, the Fed might decide to pull back on its rate increases to avoid hampering growth too much. In that scenario, it might raise rates only twice in 2019 and then retreat to the sidelines to see how the economy fares. Some analysts, though, say they think the momentum built up from the government’s economic stimulus will keep strengthening the job market and lowering unemployment—at 3.9 percent, already near a 50-year low. A tight job market could accelerate wages and inflation and prod the Fed to keep tightening credit to ensure that the economy doesn’t overheat. Any light the Fed might shed on those questions could come in the statement it will make after its latest policy meeting ends, in updated economic and

rate forecasts it will issue or in a news conference that Chairman Jerome Powell will hold afterward. The modest rate increase that’s widely expected reflects the continued resilience of the US economy, now in its 10th year of expansion, the second-longest such stretch on record. Most analysts expect the Fed to signal that it plans to raise rates a fourth and final time this year, presumably in December. The Fed’s rate increases typically lead to higher rates on some consumer and business loans. Should neither Powell nor the Fed itself clarify expectations for the months ahead, it could be because the policymakers are sharply divided and are coalescing into two familiar opposing groups—“hawks” and “doves.” Doves focus on the Fed’s mandate to maximize employment and worry less about inflation. Hawks tend to concern themselves more with the need to prevent high inflation. One Fed board member, Lael Brainard, a leading dove, earlier this month surprised some with a speech that emphasized her belief in the need for continued gradual rate hikes. By its latest reckoning, the Fed estimates its “neutral rate”—the point where it’s thought to neither stimulate nor restrain growth—at around 2.9 percent. Two more hikes this year and two in 2019 would lift the Fed’s benchmark rate to that level. Many economists worry that Trump’s combative trade policies could significantly slow the economy next year. Trump insists that the tariffs he is imposing on Chinese imports, to which Beijing has retaliated, are needed to force China to halt unfair trading practices. But concern is growing that China won’t change its practices, the higher tariffs on US and Chinese goods will become permanent and both economies— the world’s two largest—will suffer. AP

the US, and a 3-percent drop in global trade. The point of the exercise was to indicate the general direction of what would happen to the economy if tariffs spread. Higher tariffs would have both positive and negative effects for the country imposing them. Consumers would face higher costs as the prices of imported goods reflect the higher tariffs. On the other hand, they might turn to domestically produced goods, boosting their home economy. The models found that the negative effects outweighed the positive: “Lower US impor ts a nd ga ins in ma rket shares by US producers in their home market are outweighed by lower exports.” The US would import fewer Chinese goods, but the effect on China would be cushioned by diverting those products to other export markets: “In China the trade effect on GDP is initially slightly positive, although the gains diminish over time.” Chinese companies have diversified their export markets and added more complex products, such as bulldozers and power transformers, making its exports more resilient. A sudden outbreak of more tit-for-tat tariffs could also hit stocks and bonds by causing investors to lose heart, and that could amplify the economic damage. The authors—Allan Gloe Dizioli and Bjoern van Roye—noted in their paper that such indirect effects are difficult to estimate. AP

CLOUDS ON HORIZON AS TRADE WARS, RISING DEBT WEIGH ON ASIA’S GROWTH

ANGKOK—Trade conflicts, rising debt and the potential impact from rising interest rates in the United States will likely dampen growth in the coming year, the Asian Development Bank said on Wednesday in an update of its regional economic outlook report. The Manila-based regional lender said on Wednesday that it expects economic growth in Asia to remain at a robust 6 percent in 2018 but to slip to 5.8 percent next year. China’s economy is expected to expand at a 6.6 percent annual pace this year but slow to 6.3 percent in 2019. It cited looming financial and trade shocks as the biggest sources of potential trouble. If the US economy shows signs of overheating, interest rate hikes by the Federal Reser ve, including one expected Wednesday to take the benchmark rate to 2-2.25 percent, could disrupt currency markets and other capital flows, leading to problems with bad loans. Overly high housing prices also are risks for China, Hong Kong, Malaysia and South Korea, the report said. But it said the bigger threat comes from potential damage to supply chains caused by trade conflicts, especially between the US and China. President Donald J. Trump pushed on Monday with higher tariffs on $200 billion of Chinese imports. Beijing retaliated by imposing penalties on $60 billion of US goods. The conflict stemming from US complaints that Beijing steals or pressures foreign companies to hand over technology has the potential to shave 0.5 percentage points off of China’s growth and 0.1 percentage points off of growth in the US, the report said. AP

Thursday, September 27, 2018

B4 Thursday, September 27, 2018

HONG-KONG BASED CURRENCY-EXCHANGE COMPANY RECEIVES OFFSHOREVIRTUAL LICENSE INTHE PHILIPPINES

N September 18 the mother company of NiuEx Exchange, Hong Kong-based Asia Premier International Ltd. received the offshore virtual currency-exchange license issued by the Cagayan Economic Zone Authority (Ceza) in the Philippines. According to Raul Lambino, administrator and chief executive officer of Ceza, “companies that are given the virtual currency-exchange license by Ceza are allowed to launch blockchain operations, such as cryptocurrency mining, initial token offering and exchanges. The license obtained by Asia Premier International Ltd. is playing a crucial role in pushing through the plans of NiuEx Exchange in the global blockchain industry. With the rapid Philippine GDP growth in recent years, the country has been paying more and more attention to the development of new technology. As a new

and “hot” field in computer technology, blockchain will bring positive impact into all industries in the future. The Philippines has made a bold attempt, taking one big step ahead into the blockchain and digitalcurrency industry. As a global blockchain company, the operations of NiuEx Exchange will cover various regions and countries, such as Southeast Asia, the United States, Japan, South Korea, among other countries. NiuEx Exchange is involved in a number of blockchain ecosystem-industries, including digital-currency mines, digital-currency exchanges, blockchain-technology support services and blockchain venture-capital funding. NiuEx Exchange has been devoted to the research of blockchain technology and training of talents, constantly promoting the development and application of blockchain technology, hoping to make more and better contributions to the global blockchain industry.

SECURE YOUR SAVINGS NOW

HE year 2018 has been a volatile year for Philippine financial markets. With the Philippines Stock Exchange index (PSEi) dropping from a record-high of 9,078 in January to a year-low of 6,923 in June, having some uncertainties in the foreign-exchange market, the investment scene has seen better days. During these volatile times, it helps to have an alternative financial solution that secures your hard-earned savings while generating an attractive and competitive return. With the Philippine Bank of Communications’ (PBCom) long-term

negotiable certificates of time deposit (LTNCD), investors are given an option that has these exact features. PBCom is currently offering clients its 5.5Y LTNCD at an indicative rate of 5.375 percent to 5.625 percent, with the final rate to be set on September 28. This is a good tax-free, alternative investment that provides investors with regular cash flows from quarterly interest payments and the chance to shift away from more volatile investments. The LTNCD will be listed with the Philippine Dealing and Exchange Corp. on October 8. Visit your nearest PBCom branch now to find out more!

E-COMMERCE IS THE WAY BUSINESSES SHOULD GO

OON Filipinos can shop and buy cinema, bus and train tickets with a simple scan of the QR code in t heir sma r t phones. A nd now that more people are using data on their phones, digital payments would be the preferred choice among businessmen and customers, instead of c a sh or c red it c a rd s. Indeed, technology is helping more people to enjoy the benefits of digital financial services in a cost-effective, efficient and safe way. But while Jack Ma, founder and executive chairman of the Alibaba Group, China’s most prog ressive digital-payment platform, is retiring f rom t he e-commerce business anytime soon, the Philippines is still grappling to learn this technology and fully enjoy it. Indeed, e-commerce in the Philippines is on its infancy stage. T h i s i s accord i ng to tec h- sav v y Nikko Cruz, chief executive officer (C EO) of E com l ion I nc., who i s a l so a pa r t of t he X c a le Group, t he col l aborat ive pa r t nership of top-notch e-commerce gurus and pioneers in the Philippines. According to the study done by his group, the country is a decade behind in this industry, which’s why his team

of four millennials and e-commerce experts has come up with the very first e-commerce summit to educate and encourage Filipinos into this convenience platform. Every business that does trading needs to learn e-commerce, especially those struggling in marketing their products, according to Cruz. He added that the platform is for everyone who wants to learn the technology, and venture out and improve their businesses. Faster transaction, and cashless and convenient bank-tobank operations should be the way businesses are leading into. The young CEO also believes that e-commerce would be able to bring down the prices of some goods since consumers would be dealing directly to the owners or producers. Likewise, direct producers, such as farmers, st a nd to ea r n more f rom d irect buy ing by el iminat ing t he t hird party, the seller or concessioner, for example. Dubbed as “Xcale: Asia e-Commerce Summit 2018”, bearing the theme “Tapping Into the Trillion D o l l a r e - C o m m e r c e I n d u s t r y ”, speakers from various e-commerce industries will share their expertise on September 29 at the SM X

Convention Center. T he summit is a gather ing of at least 1,000 par ticipants to boost and br im online marketing ideas, and impart knowledge and network, with industr y experts to strengthen t heir respect ive businesses w it h tools a nd equ ipment to st a r t their e- commerce businesses. Conf ir med pa r t ner-spea kers a nd copresenters a re A l ibaba, L a zad a, Pay o ne e r, O ne O k a d a , S h i ne O n , V i r a l s t y l e a n d a l o t mo r e t h at a re rel ated a nd sig n if ic a nt in t he e - commerce a rena. The show will be broadcast and covered by various media outlets. The host of the conference is an award-w inning sa les g ur u and success coach, which will make the event even more memorable. T he su m m it is a pa r t nersh ip bet ween BDI Inc., Franeta Ma l l, Ve n d oR e nt , L e a p r e n e u r, O l e r n , EcomSecrets, Ecomlion, MOZ and I n k- A l l -You - C a n , a nd w i l l h av e OneOkada, Alibaba, Lazada, 2GO, Vira lSt yle, Shine On, Solidworks and SnippetMedia, among others, as sponsors. Interested parties can book their tickets and read more at xcalesummit. com/ticket. Leony R. Garcia

Sports BusinessMirror

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

FOR all his amazing feats in golf, Tiger Woods has been on only one winning team at the Ryder Cup. AP

Thursday, September 27, 2018 C1

HAPPY TIMES

FOR WOODS One element he faced every two years was trying to be on a team of 12 players even as the golfing world saw it as Tiger Woods and 11 other Americans. He was 21 when he played his first Ryder Cup in 1997 and already was the sport’s biggest star.

By Doug Ferguson

The Associated Press

AINT-QUENTIN-EN-YVELINES, France— Tiger Woods paused on his walk toward the 18th green at Le Golf National and threw his head back in laughter. These are happy times for Woods, regardless of whatever Bryson DeChambeau said to cause such a reaction on Tuesday. Now if he can get that to translate in the Ryder Cup. For all his amazing feats in golf—80 victories on the Professional Golfers’ Association (PGA) Tour, the most recent on Sunday at the Tour Championship after returning following a fourth back surgery that threatened to end his career— Woods has been on only one winning team at the Ryder Cup. That was nearly 20 years ago and required a record comeback on the final day. His own record is 13-17-3, a product of being on six losing teams. “Looking back on my entire Ryder Cup career, that’s not something that I have really enjoyed and I’ve really liked seeing,” Woods said. “I’ve played a lot of matches. Of those seven previous Ryder Cups, I’ve sat out one session.... My overall Ryder Cup record, not having won as a player since 1999, is something that hopefully we can change. We haven’t won as a US squad here in 25 years on foreign soil. So hopefully, that will change this week, as well.” Woods used to get defensive about his mark, pointing out that no one could recite the Ryder Cup record of Jack Nicklaus (178-3 during an era of US dominance), but that everyone knew

Nicklaus had won 18 majors. One element he faced every two years was trying to be on a team of 12 players even as the golfing world saw it as Tiger Woods and 11 other Americans. He was 21 when he played his first Ryder Cup in 1997 and already was the sport’s biggest star. Back in the Ryder Cup as a player for the first time in six years, Woods is in the spotlight again. One year ago he was riding in a cart as a vice captain in the Presidents Cup, having played one PGA Tour event in two years with no certainty there would be another. And then he made yesterday look like yesteryear with a wire-to-wire win at the Tour Championship, his first trophy in more than five years and the feeling that more was to come. Woods still hasn’t grasped the significance of the victory at East Lake. He didn’t know the TV ratings because he headed straight to France on the charter flight, had a team dinner and then was out in the chill of Tuesday morning for his first look at Le Golf National. “Are they good?” Woods asked to plenty of laughter. “Sorry, I’ve been a little bit busy, so I haven’t looked.” NBC Sports Group said the final round was the highest-rated Tour Championship on record dating to 1991. US captain Jim Furyk has tried to tone down the hype, though it was hard to ignore that it was a “boost for everyone, and I think for Tiger in general, it’s cool.” “The arms up in the air on 18, it looks like that’s going to be a cover on maybe about 100 magazines this week,” Furyk said. “You could tell it was significant for him. I also know how important this event is to all 12 guys and to Tiger, as well.... Being a guy with his status and that number of wins, he can flip the page and turn his attention to this week. So he’s out there grinding and trying to help this team as much as he can.” Woods and DeChambeau, one of three Ryder Cup rookies on the US team, have been looked upon as a potential partnership for Le Golf National. Furyk said not to read anything into the way he sent off his players in groups of four for the first official practice round. He said Tuesday was more about

CAPTAIN AMERICA? PUBLIC ENEMY NO. 1? S

AINT-QUENTIN-EN-YVELINES, France— Patrick Reed relishes the role of Captain America. He’s just as comfortable being Public Enemy No. 1 at the Ryder Cup. “I’m supposed to be the villain, just like when Ian Poulter comes to the States, he’s the villain,” Reed smirked. “You expect to hear the fans kind of go back and forth with you. If it’s not happening, it probably means you’re not playing very well.” Reed was a convenient target of the European faithful at Gleneagles back in 2014, telling them to hush after he made a big putt. Nothing figures to change when the US tries to retain the cup at Le Golf National just outside of Paris. As far as Reed is concerned, bring it on. “There’s really nothing to get underneath my skin, that’s for sure,” Reed said. He clearly relishes the charged atmosphere of

a Ryder Cup, having lost only one of nine matches over his first two appearances. At Hazeltine two years ago, he teamed with Jordan Spieth to go 3-0-1 in foursomes and four-balls before beating Rory McIlroy in singles on the final day, leading the Americans to their first victory since 2008. Now, the 28-year-old Reed is eager to end another drought. The US team has gone a quarter-century since its last victory in Europe. “The young guys don’t want to have to go through what the old guys did every 25 years,” he said. “Put our foot down and go out and play some good golf, kind of like we did in 2016, and try to win the cup and take the cup back home.” Since last playing in the Ryder Cup, Reed has added a snazzy new line to his résumé. Masters champion. That first major title has only added to Reed’s confidence.

“It’s a good problem to have to have people either saying Captain America or Masters champion,” Reed said. “But this week,” he quickly added, “I’m definitely Captain America.” He was coy about another pairing with Spieth, though it would certainly be a gutsy move for captain Jim Furyk to break up a duo that meshed so well at the last two Ryder Cups “It’s just going to really all depend on what we think are the best people we can put out and best teams we can put out since some guys are going to sit at some point, and who we feel can go out and get us the most points possible,” Reed said. Of course, the singles pairing that everyone wants to see is a head-to-head showdown with Poulter, who is 12-4-2 at the Ryder Cup and has never lost a singles match. “It would always be great playing Poults,” Reed said, not backing down at all. “I’ll take any of them.

All of the guys are playing some great golf. I’ve always been the type that I want to go up against their best guy, and so on Sunday, I want to go up against whoever is playing the best that week.” Reed is trying to pass on that same bravado to Ryder Cup rookies, such as Justin Thomas, Bryson DeChambeau and Tony Finau. “It’s the one week that you can show your emotion,” Reed said. “We all have a bunch of emotion. It’s just some guys wear it on their sleeve and some guys bottle it up. This is the one week you can show the passion you have for the game of golf and the passion you have for your country and the passion you have for your teammates to go out and play the best you can. “If you make a putt and you’re excited, show it. If you go out and you miss a putt, and you’re not thrilled, show it, but do it in the right way. That’s the biggest thing. This is the one week that we’re allowed to let loose and

THE bags of USA’s Patrick Reed and Bryson Dechambeau stand side by side during Tuesday’s practice round as Europe’s Rory McIlroy uses a tee to clean grass from his shoes. AP

show our emotions and play golf.” Reed was asked what he thought of the massive grandstand that surrounds the first tee. With a capacity for nearly 7,000 spectators, it figures to provide a raucous setting for the opening shot of each match. “Why only seven [thousand]? Couldn’t you get more?” Reed said, never one to shy away from a little jab. Of course, he can’t wait to tee off on Friday. “I looked up and felt like I kept looking up and up and up,” he said. “The first tee is going to be just so much fun. I can’t wait to hear all the little cheers and just little quirky things that they can do and say, because it’s always fun coming overseas and hearing all the little playful jabs and chants that they have going on.” Captain America? Public Enemy No. 1? Reed is comfortable with both. AP

learning the golf course because only six US players have seen it. Phil Mickelson, who also has a losing record (18-20-7), joined Woods, DeChambeau and Patrick Reed. Mickelson then caused a small stir by saying he and Woods would welcome another chance to play together, even though their 2004 partnership at Oakland Hills resulted in two losses and plenty of ridicule in the years that followed. Will it happen? “I do have an idea of what Captain Furyk is thinking, yeah,” Mickelson said with a grin, allowing for no other detail. The best personal mark Woods ever had at the Ryder Cup was the only other time he was a captain’s pick, going 3-1 in Wales. He failed to win a match in his most recent Ryder Cup, going 0-3-1 at Medinah when Europe rallied to win on the last day. Woods, however, is more than six years removed from the Ryder Cup. He has gone through four surgeries that kept him out of 10 majors and two Ryder Cups, though he comes to France with a winning feeling— not just the Tour Championship, but his role as a vice captain at Hazeltine two years ago during a rare American victory. The next generation of Americans looked up to him as the legendary figure who inspired them when they were kids. Now he is back to being their peer, feeling as much a part of the team as ever, no matter whose picture is on the cover of magazines.

BEAT AMERICA, NOT JUST TIGER

AINT-QUENTIN-EN-YVELINES, France —Rory McIlroy says the goal for Europe in the Ryder Cup is to beat the Americans, not just Tiger Woods. McIlroy was paired in the final group with Woods at East Lake when the 14-time major champion won for the first time in more than five years. Woods has been the dominant figure in golf for the better part of two decades, and he created an enormous buzz with his 80th career victory. This week Woods is one of 12 players on a US team that has not won the Ryder Cup on European soil since 1993, when Woods was still in high school. McIlroy says it’s silly to focus on one player and that he might not even see Woods at Le Golf National if they are not in the same match. AP

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TESSA JAZMINES tessa4347@gmail.com

PART OF THE GAME

AN EAGLE FOR OTHERS

OR the past two seasons of the University Athletic Association of the Philippines (UAAP), a lot of support has poured in for the University of the Philippines (UP) Fighting Maroons. Most of these come from UP alumni like Robina Gokongwei Pe, whose Robina Farms, Robinsons Supermarket and Handyman have “Push(ed) On UP” for years. Other alumni have come in to lend hefty support in cash, kind and service. The outpouring of support for the Maroons started with a group called #nowheretogobutUP, a concerned and concerted alumni reaction to the dismal showing of UP in UAAP seasons past, black-marked by three winless seasons in 2007, 2010 and 2013. The lowest point of the UP Fighting Maroons life story seems to be the celebration of UP’s lone win over fellow cellar dweller Adamson University in Season 77 (2014). UP went out and toasted that win with a bonfire in the UP Sunken Garden, the heart of the campus reserved for heady, well-deserved celebrations. Some hailed the win and the cathartic bonfire as a welcome spritz of spring rain after a 27-game losing streak. A few, like then team captain JR Gallarza, regarded it as a pathetic celebration of mediocrity and called for the return of a winning culture to UP, a drive toward a more fitting achievement worthy of UP’s “honor and excellence” motto. No matter on which side they stood, the UP alumni’s collective heart was touched, if not pierced, by that singular event and what it stood for. Formerly disjointed, individualistic, group-divided and disinterested in UP’s sports program, the alumni rose seemingly as one from that bonfire event and carried the flame, so to speak, inside them. NowheretogobutUP, rose from the bonfire’s ashes like an “UPrising” and the UP community’s indifference became a thing of the past. Taipan Millan and his wife, Renan Dalisay, Miej Jornacion, Ags Uvero, Mandy Reyes, Dan Matutina, Tony Gloria, Rina and Mike Tan, Aruba Opida, Jason Jorvina, Patricia Galang and Cocoy Mercado institutionalized the group and started a conflagration of support from all sectors that included not just alumni but UP students, staff, faculty and friends of friends of friends of alumni. From the design of a new Fighting Maroons logo to creative fundraising schemes to the appointment of UP alumnus Bo Perasol and subsequent spirited, strategic recruitment, a feverish drive to make things better for UP began. Things were finally coming together for the UP Fighting Maroons. But would you believe one of the biggest supporters of UP is an Atenean? Meet Januarius Jesus (JJ) Atencio, chairman and CEO of his holding company, Januarius Holdings Inc., an asset management company with diversified investments in real estate, equities, venture capital, securities, retail and art. Claiming that his only experience in UP was a swimming class that he joined as a boy one summer, he dove right into the Maroon cause because of his friendship with several UP alumni, UP President Danny Concepcion, Bong Bongolan of Home Guaranty Corp. and former Cavite Gov. Johnvic Remulla, all staunch supporters of the UP Fighting Maroons. “Out of the blue in one gathering, they asked me if I wanted to support UP. Danny in particular explained to me why I should. I said I would think about it muna, but sinimangutan niya ako the whole party. So toward the end I said, “Sige, okay na, kasi hiningi mo eh.” So that’s how casually it started. Then eventually I got to meet Bo Perasol, Robina Gokongwei, Dan Palami and everybody. They made a presentation and I liked it. So in the end I could not say no to my friends who graduated from UP who asked me to help. So I happily said yes. I wasn’t forced into doing it either.” “Kasi nga ‘yong story ng UP may pagka-underdog diba? Hindi nananalo. Eh yon yong mga masayang suportahan, diba? I’m a sucker for underdog stories. Kasi nga yong buhay ko parang ganun din ako eh. I was never really voted as the person most likely to succeed. But you know, with hard work, persistence, dedication, integrity, sincerity, God’s prayer.. I identified with the team kasi may potential eh.” JJ’s support of the team, as he puts it, is very specific, very focused, and measurable. In Season 80 he funded the team’s Las Vegas training at the Impact Basketball Training Camp. This season he did the same for their training in Serbia in a remote village called Novi Sad. “Iba ang training ng Eastern European basketball,” said JJ. “American basketball tends to be player centric. You have marquee players..and the plays revolve around the marquee players. European basketball is different. They don’t really have superstars but what they have is a lot of plays and a lot of teamwork. It’s a different approach. It’s the same game but it’s a different approach. Physicality is very strong sa Serbian training. [And it also trains your mind.]” JJ says the team has been very appreciative of his contribution. “And one reason why I chose to support UP is that I know yong konting naitulong ko, ang laki ng impact sa team. Versus, let’s say, we sponsor a winning team. Parang the value that you give is very minimal na lang kasi they are already 99% eh. So whatever you give, you just contribute to the 1%. Eh if the team is not 99, let’s say 80% eh di whatever you give is of a high value, di ba? And you know if you’re lucky and your team wins, eh di you can be happy that you supported the winning cause.” JJ is happy that he sees progress in the UP Team, never mind that they lost dismally last Sunday to the Far Eastern U Tamaraws. “It’s part of the process. Trust the process,” he said, channeling Joel Embiid. “All I want is for them to play with heart, give their best, not be lazy and show sincerity and hard work. They have a personal appointment with destiny,” he said. Didn’t he raise a lot of Atenean eyebrows for supporting their Katipunan rival? He did, but he says to him the Atenean mantra of being a “man for others” means reaching out to those who are outside of one’s circle. He wanted to help inspire this underdog team that wanted so badly to win but perhaps lacked the support that others enjoy. How long will he support the UPMBT? “As long as they want me,” he said, quite solemnly. What a difference a quirky bonfire makes.

BLUE EAGLES ROUT WARRIORS A By Ramon Rafael Bonilla

TENEO got balanced scoring from its entire roster to hammer out an 89-62 rout of University of the East (UE) in the University Athletic Association of the Philippines Season 81 men’s basketball tournament on Wednesday at the Filoil Flying V Centre in San Juan City. The reigning champion Blue Eagles took no time in roasting the Red Warriors with 13 Ateneo players making the scoring column. The victory was the third straight against a season-opening loss to Adamson University for the Katipunan-based team. “Coming into this game, we wanted to control the rebounds and we knew UE fights hard regardless of the score,” Ateneo Assistant Coach Sandy Arespacochaga said. That’s exactly what the Blue Eagles did as they put premium on the rebounds department with 46 against the Red Warriors’ 27. And, despite an 8-0 third-quarter uprising by UE, Ateneo stayed in control and padded its lead to 32 points on Gian Mamuyac’s transition basket that made it 84-52 in the fourth-minute mark of the final quarter.

ATENEO’S Kakou Kouame (34) and Rafael Verano (22), and University of the East’s Wilson Bartolome (21) and Philip Manalang go after the loose ball. NONOY LACZA

Rafael Verano finished with 12 points and four rebounds to lead the Blue Eagles before he was carried out of the game because of a right-ankle injury midway in the fourth period.

William Navarro had 11 points, five boards, three assists and two blocks, while Kakou Kouame registered eight points and 15 rebounds. Coming off the bench, Verano scattered eight points

in the second quarter to help Ateneo take a commanding 43-31 lead at the break. After Thirdy Ravena’s five straight points made it 58-36 in five minutes into the third quarter, UE’s guards staged a mini run to slice the lead to 14. That was the best the Red Warriors could muster as the Blue Eagles, behind their bench players, kept the game beyond reach. Alvin Pasaol led the Red Warriors with 17 points and eight rebounds, but missed five attempts from the three-point line. Only Wilson Bartolome finished in double figures with 12 for UE, which went down to a 0-4 card. Defending four-time champion National University (NU), meanwhile, extended its winning streak to three, while Far Eastern University (FEU) stayed in the hunt also on Wednesday in women’s basketball action at the Blue Eagle Gym. The Lady Bulldogs fashioned out a 74-66 win over De La Salle to extend their remarkable perfect run to 65 games overall, while the Lady Tamaraws subdued Ateneo, 54-45, for a 3-1 card. In the other games, University of Santo Tomas routed Adamson University, 85-55, while last season’s runner-up University of the East entered the win column after three straight losses with a 49-40 decision over University of the Philippines.

PERPETUAL HELP JR ALTAS OPEN BID IN N.C.A.A. CHESS TOURNEY

NIVERSITY of Perpetual Help seeks its first crown in the National Collegiate Athletic Association (NCAA) as Season 94 #GalingNCAA Juniors Chess Championships action kicks off on Saturday at the Mapua High School Building in Otis, Manila. Top board player Eric Labog Jr., Carl Zirex Sato, Chris Aldritz Pondoyo, John Marx Anastacio, Jerome Angelo Aragones and Jose Daniel Abucejo lead Perpetual Help’s charge under Coach Roel Abelgas and Assistant Coach Kenneth Martin Rovillos as they try to improve on their

runner-up finish last season. The team of Perpetual Help brass Tony Tamayo will face Lyceum of the Philippines University-General Trias on opening day. “We are confident the Junior Altas would bring home the title this time,” Perpetual Help Sports Director Sinfronio “Sammy” Acaylcar said. Lyceum, meanwhile, tries to get back on track when it faces Arellano University in the seniors’ basketball tournament on Thursday at the Filoil

Flying V Centre in San Juan City. A 30-game win streak came to a halt last week when the Pirates lost to the Perpetual Altas, 81-83, on a buzzerbeater by Prince Eze. Lyceum (12-1) tackles Arellano University (4-8) at 2 p.m. San Beda (12-1), the co-leader and defending champion, tries to extend its winning run to seven against San Sebastian (4-9) at 4 p.m. Pirates Head Coach Topex Robinson believes his team

has a lot more to prove. “We just have to learn from it and try to improve every game,” he said. Lyceum is expected to rely heavily on CJ Perez, Mike Nzeusseu, and Jaycee and Jayvee Marcelino to get back on the winning track. The Chiefs, on the other hand, kneeled to the College of Saint Benilde Blazers, 73-89, last Friday in their first game without Jerry Codiñera, who resigned as coach and Junjie Ablan took over.

Cangolf amateur registration on

EGISTRATION for the Canlubang Amateur Open ends on Sunday with another banner field featuring the country’s leading amateurs expected to slug it out in the 18th staging of the event set from October 3 to 5 at the Canlubang Golf and Country Club’s North and South courses in Laguna. Last year’s men’s champion Paolo Wong is tipped to go for a repeat in the 54-hole championship division against the likes of siblings Jolo and Jonas Magcalayo, Aniceto Mandanas, Paolo Barro, while Nicole Abelar, Annyka Cayabyab and Mafy Singson are expected to dispute top honors in the distaff side. Also on tap are the Classes A, B and C and ladies division to be played over 36 holes on October 4 and 5. The event is expected to draw more players heading to the weekend. For details, call Cangolf Makati and Canlubang offices at (02) 897-6887 (Maite Tengco/Tony Francisco) of fax (02) 890-9321 or e-mail cgcc.makatioffice@gmail.com and (49) 543-2670 (Ann Dublado/Amy Tolentino) or (049) 543-2640 to 43 local 231 or e-mail cgcc.golfandsports@gmail.com.

DIAMOND SPONSOR Auto Nation Group Inc. (ANGI) Chairman Felix Ang

(right) shakes hands with Rosalind Wee of Tagaytay Highlands Ladies Chapter and wife of Philippine Ambassador to Indonesia after signing the contract making ANGI one of the Diamond sponsors of the 13th Highlands Ladies Cup set on Saturday at Tagaytay Midlands Golf Course. With them are THLC members Deenna Mendiola and Marissa Vergara.

Sweets Wonderland fun run set

XPERIENCE a kawaii-filled fun run with everyone’s favorite feline Hello Kitty when Filinvest City hosts the second Hello Kitty Run in Manila on Sunday. Themed Sweets Wonderland, the fun and colorful 5-kilometer race around Filinvest City is open to families, friends, couples, buddies and Hello Kitty lovers of all ages. Exciting activities and Sanrio merchandise await participants. “As we continuously promote a healthy, active lifestyle, we have positioned Filinvest City as the haven for outdoor activities in the Metro,” Filinvest City head Don Ubaldo said. “We support fun and exciting activities, such as the Hello Kitty Run Manila, and we are happy to host this year’s run,” he added. “This will once again showcase Filinvest City as a green and lively community that brings families and friends together.” A master-planned urban center, Filinvest City seeks to strike a balance and provide city dwellers a more progressive work-live-play environment.

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Bandala, Enriquez top Kapatagan tilt

ETE BANDALA finally hit paydirt after a pair of strong finishes in Zamboanga Del Norte, upending top seed Wyn Sanchez in the 10-under unisex finals to share the spotlight with a streaking Sydney Enriquez in the Palawan Pawnshop Palawan Express Pera Padala (PPS-PEPP) Kapatagan age group tennis tournament in Lanao del Norte last Monday. Bandala, who lost to Sanchez in the semis of the Salug leg and in the finals of the Sindangan stop of the three-stage Zamboanga del Norte swing last month, got back at his tormentor with a gutsy 4-2, 1-4, 10-7 victory to claim his first championship in the Group 2 tournament put up by the PPS-PEPP. The eight-year-old wonder from Dipolog City later teamed up with Theo Sanchez to thwart Marlyn Mesiona and Vincent Nadal, 8-5, in the 10-under doubles of the event presented by Dunlop. “This kid has potential and it’s inspiring to see him toughening up following setbacks and winning in the circuit put up for young players like him,” Palawan Pawnshop President and CEO Bobby Castro said. Maranding, meanwhile, will host the third and last Lanao leg starting on Friday up to Monday. Registration is ongoing through PPS-PEPP Program Development Director Bobby Mangunay at 0915-4046464. Enriquez added the 16- and 18-under titles to her trophy collection, while Judy Ann Padilla matched that two-title feat to share Most Valuable Player honors in the event sanctioned by the Unified Tennis Philippines and hosted by Byron John Atay and Kapatagan local government units. Enriquez, from Salug, posted a pair of 6-0, 6-1 romps over Jalia Elumba (16-under) and Faith Virgo (18-under), extending her impressive run from the Zamboanga series to Tubod last week, while Padilla, from Ozamiz City, downed Kimberly Vosotros, 7-5, 6-2, and May Insiong, 6-2, 6-1, for the 12- and 14-under diadems, respectively. Vinz Bering, on the other hand, toppled Kyle Villamar, 6-2, 6-4, for the boys’ 12-under title but bowed to top seed Nash Agustines from Oroquieta City, 1-6, 0-6, in the 14-under finals. Other singles winners were local bet Jed Las Pinas (16-U), and top seed Steven Sonsona (18-U) and doubles champions Agustines and Aldritz Pan (boys 18-U) and Enrique and Virgo (girls 18-U), Bering and Kyle Villamar (boys’ 14-U), Padilla and Zeiah Toribio (girls’ 14-U).

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PHL OLYMPIAD BETS SHARE EARLY LEAD G

RANDMASTER (GM) Julio Catalino Sadorra and John Paul Gomez pulled off hard-earned victories while International Master (IM) Jan Emmanuel Garcia escaped with a draw from an inferior position to lift the Philippines to a 2.5-1.5 win over Slovakia to stay on top after the second round of the 43rd World Chess Olympiad in Batumi, Georgia, on Tuesday night. The United States-based Sadorra caught GM Christopher Repka into his opening preparation to gain material advantage and hammer out a 37-move win of a Slav Defense, while Gomez fought his way out of a difficult position to eke out a 63-move triumph over GM Tomas Petrik of a Ruy Lopez. For Garcia, an Olympiad first-timer, he came into the endgame a pawn down but managed to create disturbing bishop and queen threats to escape with a draw in 65 moves of a Dutch Defense with IM Viktor Gazik to help seal the pulsating win for the Filipinos, whose ranked lower than the 48thseeded Slovakians at 54th. FIDE Master Joseph Mari Turqueza, a last-minute replacement to IM Haridas

Pascua, who was complaining of headaches and sinusitis, in the second round, ran out of opening tricks and lost to IM Martin Nayhebaver in 41 moves of a Sicilian battle. The team, supported by the Philippine Sports Commission, remained in a huge 41-country group on top that included powerhouse United States, which has Cavite-born GM Wesley So as board two player, with four match points. The victory came a day after the Filipinos destroyed San Marino, 4-0, in the opening round on Monday. The Filipinos will play No. 18 Croatia, which crushed Monaco, 3.5-.5, in the third round being played at press time. The women’s squad, in contrast, succumbed to Slovenia despite a smashing victory by Woman GM Janelle Mae Frayna over WIM Laura Unuk on top board. Woman FM Shania Mae Mendoza and WIM Marie Antoinette San Diego lost their way and suffered painful defeats at the hands of WGM Jana Krivec and WFM Teja Vidic, respectively, on the last two boards. WIM Catherine Secopito split the point with WFM Lara Janzelj on second board. They play the Venezuelans next.

THAT’S ME Los Angeles Lakers’ JaVale McGee (left) looks at his photo during media day at the National Basketball Association team’s practice facility on Monday in El Segundo, California. AP

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C4 Thursday, September 27, 2018

QATAR ‘22 UNDER FIRE D

UBAI, United Arab Emirates—A contractor involved in building the marquee stadium for Qatar’s hosting of the 2022 World Cup did not pay its workers, leaving them stranded thousands of miles from home, according to a report released on Wednesday. Mercury MENA, an engineering and plumbing firm, owes thousands of dollars of wages to workers from countries where many live on less than $2 a day, Amnesty International said. Those employees helped build projects, including Qatar’s Lusail Stadium, which will host the opening and closing matches of the soccer tournament. The company, whose web site is now down and offices in Doha are shuttered, did not respond to requests for comment from The Associated Press. Qatar’s government said it was investigating, but similar complaints involving the abuse of foreign workers have been common for years in both Doha and other oil-rich nations of the Persian Gulf. “People from all over the world cheering, laughing, touring some of the beautiful stadiums, recreational sites and hotels here.... Will they ever think what are the stories behind those structures?” one worker reportedly told Amnesty. “I guess not.... Blind eyes are common nowadays.” Amnesty said it examined the cases of 78 former employees of Mercury MENA, interviewing 44 and analyzing documentation of another 34. Of them, 58 came from Nepal, 15 from India and five

from the Philippines, Asian nations that send thousands of laborers, taxi drivers and office workers to the Gulf. Mercury MENA worked on several projects in Qatar, including the stadium, the new Qatar National Library and a worker’s hospital and modern accommodation for laborers, Amnesty said. Workers told Amnesty that the firm owed them on average between $1,370 and $2,470, a huge sum for their families back home. It said one worker was owed nearly $25,000 after over a decade of work. Some workers found themselves stuck in Qatar without money and unable to leave the country as local laws require workers to get an exit permit supported by their employer before they leave. Earlier this month, Qatar partially ended that requirement, part of its internationally criticized kafala system that ties expatriate workers to a single employer. Amnesty said Mercury MENA’s CEO told them in 2017 that his firm “had been the victim of unscrupulous business partners resulting in ‘cashflow problems’ and a number of disputes over payments with contractors and clients.” Companies around the Gulf have been suffering from an economic slowdown in part aggravated by oil prices going as low as $30 a barrel in early 2016. Brent crude now is trading at over $80 a barrel. Meanwhile, Doha has faced a boycott by four Arab nations since June 2017 as part of a regional political dispute, further affecting its economy. AP

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

WANTED: VOLUNTEERS T

OKYO—Tokyo Olympic organizers began their search on Wednesday for 80,000 unpaid volunteers to staff many of the venues when the Olympics and Paralympics open in just under two

years. The closing date for applications will be in December, although Tokyo 2020 organizers say they have not set a specific date. Olympics volunteers are unpaid and typically must provide their own lodging, but they are given uniforms and free meals on the days they work. The volunteer program has been a staple of the Olympics. Many volunteers relish the behindthe-scenes work, and many return to do it several times. But the program also has detractors. At every Olympics, volunteers sign up, get the uniforms, and then don’t show up for work—or complain about being unpaid even though agreeing to those terms. The Rio de Janeiro Olympics two years ago had problems finding volunteers, particularly among the poor and working class who could not afford to work for free. “Volunteers will be an essential part of the games’ success in a variety of roles at competition venues and at the athletes’ village,” Tokyo 2020 spokesman Masa Takaya said in a statement. Earlier this month during a visit of International Olympic Committee inspectors, a Japanese reporter told IOC member John Coates that complaints about the Olympic volunteer system were surfacing, particularly in Japanese social media. “They are hinting that it is similar to forced

FLYERS to recruit volunteers for the 2020 Tokyo Olympics and Paralympics are distributed to passersby at a station in Tokyo on Wednesday. AP

labor,” the reporter said. “Volunteers are volunteers,” Coates replied. “And they don’t have to apply if they don’t want to.” A review of the volunteer system several years ago by the Associated Press indicated using unpaid volunteers saved the IOC and local organizers about $100 million—perhaps more. The IOC generates almost $6 billion of revenue over a four-year Olympic cycle. The IOC says about

90 percent of the money goes back to national Olympic bodies, sports federations and local organizers. “The economics of it necessitates having to have volunteers,” Coates said. “They get trained, they get their uniforms. They are part of something very exciting.” Coates defended the model and said, “I don’t think there’s a case for paying volunteers.” IOC members like Coates receive per diems

of between $450 and $900 when they are on Olympic business, and other generous perks like paid lodging at top hotels. IOC President Thomas Bach gets no salary but receives an allowance of about $250,000 per year as a “volunteer” president. The Tokyo metropolitan government is also running a separate volunteer program to help steer tourists during the Olympics. It is reported to be seeking about 30,000 volunteers. AP

Poise that is under control

EAR God, may we develop poise that is under control. We know that poise stores up energy and holds it in reserve for special use. Poise keeps us calm and deliberate under varied circumstances. Poise does not mean weakness. Littleness nor indifference. May we be inspired to have poise to show our strength, self-control and being reserved. Poise in its highest form suggests self-confidence, independence and mastership. Let God be the source of our poise. Amen. GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

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GUESTS of Holiday Inn Express Manila Newport City can keep fit during their trip with the hotel’s 24hour gym.

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STAY in one of the hotel’s ergonomically designed rooms to experience the perks of traveling smart.

BusinessMirror

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Holiday Inn Express joins RWM’s growing int’l hotel portfolio

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THE façade of Holiday Inn Express Manila Newport City

Life

By PAULine JOy m. GUTierreZ

T was business-as-usual at the Remington Hotel in Newport City in the morning back in May. Tourists, busy with their baggage and personal busyness, barely noticed the blue drape covering the small partition of the entrance wall where the metal engraving of the hotel name used to be. The Remington Hotel has been part of the InterContinental Hotel Group’s (IHG) portfolio since December 2016. In 2017 the British multinational hospitality company made an announcement to rebrand the property as Holiday Inn Express (HIE). IHG officially introduced the HIE brand in Manila through the unveiling of the hotel logo at the building’s façade that May. Along with the Marriott Hotel, Maxims Hotel (soon to be Ritz Carlton Hotel) and Belmont Hotel, HIE completes the roster of hotel brands currently operating in Resorts World Manila (RWM). Three more international properties are currently under construction within the complex: the Hilton Hotel, Sheraton Hotel and the Maxims Hotel expansion that will be rebranded as Hotel Okura Manila in 2019. HIE operates under a limited-service concept setup, wherein standard amenities lean toward the convenient and practical which cater to business travelers, airport transit guests and short-term stays. This draws the distinction between the HIE chain and its parent brand, Holiday Inn. “Although ours is an express hotel, we keep the standards very high and with this, we are attracting a brand-new market segment. We’re trying to attract higher-level groups and we are expecting more corporate business segments,” said HIE General Manager HT Cheah at the hotel’s opening ceremonies. He added, “Some people want five-star accommodation so they might not come here, but there are some travelers, particularly young people, who do things by themselves. When you go to a coffee shop, you just go up to the counter and pay to get your coffee. You don’t want to be fussed over and you don’t want the waiter to check up on you every minute or so. When you sleep, do you really need eight pillows? You probably don’t, but some hotels provide that and they charge you for that—we don’t. We give you the basics: two good pillows, a good bed and a good linen.” With the transition from the old Remington property to HIE, rooms will be equipped with the brand’s signature sleep solution, which features blackout curtains, comfortable bedding and a choice of firm or soft pillows. Room amenities include an en-suite bathroom, universal power sockets,

REELING: THE PHILIPPINE FILM INDUSTRY A STAR AFTER 100 YEARS D4

Thursday, September 27, 2018

CAMPAIGN CALLS ON HAWAII ISLAND TOURISTS TO BE RESPECTFUL HILO, Hawaii—The Big Island visitors bureau and Hawaii County have launched a campaign that aims to create a more conscientious tourism industry on the Big Island. The Island of Hawaii Visitors Bureau Executive Director Ross Birch and county Managing Director Will Okabe presented the new “Pono Pledge” at a Thursday event, the Hawaii Tribune-Herald reported. The campaign will remind tourists to treat the island and its people with respect. It includes a nine-line mantra affirming that, while people can appreciate the beauty of the island, they will not do so in a way that disrupts the environment and community or endangers people, Birch said. Campaign materials will be found at tourism-adjacent industries that partner with the program, such as hotels, he said. Visitors are invited to sign the pledge online and share it via social media, further spreading awareness. The campaign is modeled after similar programs in Iceland and Palau. The campaign was originally scheduled to be unveiled in June, but it was delayed because of the Kilauea volcano eruption in lower Puna, Birch said. A change in tourism on the island was the inspiration for the campaign, he said. “Ten years ago, there were 1.66 million visitors to the island. There were 1.72 million last year,” Birch said. “There hasn’t been a big change in the number of visitors, but they’re a different kind of visitor.” He thinks the evolution of technology might be causing visitors to be less conscious of the environmental impact their presence has on the island. “An example I’ll use is Waipio Valley,” Birch said. “The lookout at Waipio Valley has limited parking spaces and access, but it gets more than 1,000 visitors a day, when in the past it got about 200 a day.” Birch is hoping to get airlines to adopt the campaign. His goal is for 10,000 people take the pledge within the campaign’s first year. AP

THUMBS up during the launch: (from left) Martin Paz, chief integrated marketing officer for RWM; Kathy Mercado, senior director for International Marketing and Sales for RWM; Stephen Reilly, chief operating officer for RWM; HT Cheah, general manager for Holiday Inn Express Manila; Christopher McGonnell, chief hotel operations officer for RWM, and Christian Pirodon, IHG regional general manager for the Philippines

in-room safe, flat screen television, seating area and a comfortable study area. Hotel facilities are geared toward convenience and features 24-hour dining, gym, meeting room and coin-operated laundry. “IHG first came in about a year ago but the name was still under Remington. The transition process started with the changing of the software, including the reservation system. Second on the list was educating and retraining the staff on the IHG brand, especially the Holiday Inn Express brand and its service standards. The staff are continuously briefed on the new operating procedures,” said Cheah. HIE already covers four floors as part of the ongoing renovation. The lobby’s renovation is set within the next six to eight months, with the entire renovation expected to be completed by 2019. When asked about his insights on the stiff competition of hotel brands within the RWM complex, Cheah said, “I think each hotel has a certain specialty concept. Although these often overlap, the difference is really based on consumer preferences. As for the competition, I think we complement each other because we cater to a slightly different market.

RWM actually markets the whole place and when big groups come in, they go to different hotels. Some come here—no fuss, no frills and express service.” In terms of expected foot traffic, Cheah said that HIE has roughly 20 to 50 rooms availed by IHG Rewards Club and Business Club members. “That is a segment that never came before. When we first started a year ago there were only five a day, and now it’s regularly 20, 40 and 50. We expect to grow because in a typical IHG hotel, 30-40 percent of their profits are from members.” IHG Hotels has the biggest membership crop in the world tallying up to approximately 100 million members. “We are well-known in countries around Southeast Asia and this is the first one in the Philippines. We are expecting that all these people who have been to a Holiday Inn Express in other parts of the world will know there’s an Express here in the country and that there’s a certain expectation to the quality we provide.” In conclusion, Cheah said, “We’ve made these people’s travel experience smarter by giving them everything they need and more—where it matters most.” n

IN this August 30, 2015 file photo, Keenin Ide (left) of Hilo, Hawaii, and Medea Yankova, of Sofia, Bulgaria, sit near Hilo Bay in Hilo, Hawaii. The Big Island visitors bureau and Hawaii County have launched a campaign that aims to create a more conscientious tourism industry on the Big Island. AP

DTM showcases ‘ultimate underwater tourism’ TOURISM Secretary Bernadette Fatima Romulo Puyat led in welcoming hundreds of international and local diving enthusiasts to the fourth edition of Diving Resorts and Travel (DRT) at the SM Megamall in Mandaluyong City last weekend. As promised, the Department of Tourism (DOT) treated attendees to an “ultimate underwater tourism” experience with an on-site familiarization tour of some of the country’s dive destinations, as part of the Philippines Dive Travel Mart (DTM) that was held jointly with the DRT. “A very important feature of the show is a five-day familiarization tour for all of the buyers. These activity offers a truly holistic experience of diving in the Philippines,” said Puyat, who had flown all the way from Zamboanga del Norte to personally thank the DRT-DTM participants. Among the dive sites visited were Anilao, Batangas; Puerto Galera, Mindoro; Dumaguete, Negros Oriental; Bohol; and Malapascua and Moalbal in Cebu; Siquijor Island; and Southern Leyte. The tourism chief expressed confidence that the

international exposure will make the Philippines a globally competitive diving destination, as she touted the country’s marine biodiversity, acknowledged by experts as among the richest in the world. “We have it all—from the rarest and smallest critters to the largest pelagic fish, colorful reefs and many others. So whether you’re looking for a relaxing fun dive, honing your photography skills, doing technical or cave dives, or training to free dive, we invite you to take on our dive sites,” said Puyat. At least 26 countries participated as represented by 45 local exhibitors and sellers, 58 international buyers and 12 international media, featuring the latest technology in underwater photography, snorkeling and diving gears, and business-to-business (B2B) opportunities for the sellers, which, according to organizers, generated about 1,638 business leads. “We are thankful that the DRT Show Philippines 2018 has served as an effective platform for DTM for the convergence of international tourism stakeholders, product updates, B2B meetings between local dive tour

operators, foreign buyers and dive tour operators, and education,” said Puyat. “Through this initiative, the department aims to sustain the competitiveness of our dive tourism products through the continued introduction and development of other segments in our product portfolio, such as free diving and technical diving, taking into consideration the needs of established and new markets,” she added. Meanwhile, Puyat told reporters the Department of Environment and Natural Resources will have to ascertain if diving will be permitted with the “soft reopening” of Boracay Island this coming October 26. “We will have to see if diving can be included when we reopen Boracay,” said Puyat. In line with the Boracay Interagency Task Force’s decision to reopen Boracay in several phases, water recreational activities such as use of jet skis will be allowed at a designated time after the October 26 soft opening. The proposed schedule to permit diving activities, however, will still be discussed during the task force meeting on September 28.

Thursday, September 27, 2018

Entertaining BusinessMirror

Pan roasting chicken produces moist meat and crisp skin

By America’s Test Kitchen The Associated Press

O develop a bone-in chicken breast recipe that produced moist meat, crisp skin and a quick pan sauce, we turned to pan roasting, where the chicken is browned in a skillet on the stovetop and then slid, skillet and all, into a very hot oven to finish cooking. This method helped to protect the delicate white meat, which doesn’t have a lot of fat, from drying out. The chicken was added skin side down in a smoking hot skillet, where it formed a gorgeous brown crust and produced plenty of fond. After lightly browning the second side of the chicken, we moved the skillet to an oven at 450°F where the chicken roasted for just 15 minutes. While the chicken rested, we used the browned bits left in the pan to make a flavorful pan sauce. You will need a 12-inch oven-safe skillet for this recipe. If using kosher chicken, do not brine. If brining the chicken, do not season with salt in first step.

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Lola Kirke, 28; Anna Camp, 36; Tamara Taylor, 48; Meat Loaf, 71. HAPPY BIRTHDAY: Investments, health issues and contracts should be looked over carefully. You may need to make some adjustments this year in order to stabilize your situation. A gift, inheritance or unexpected gain is apparent. However, how you handle money matters can lead to loss, as well. This is a year of easy come and easy go. Think matters through. Your lucky numbers are 3, 9, 17, 24, 33, 37, 46.

ARIES (March 21-April 19): Offer to help someone you feel has something to offer in return. A give-and-take situation will bring you closer to someone you admire. A change of plans will be the result of an emotional encounter. HHH

TAURUS (April 20-May 20): Learn as you go. Don’t give in to someone trying to lure you into an argument. Stand behind your beliefs and live up to your promises. What you do will make a difference to the way others treat you. HHH

GEMINI (May 21-June 20): Keep information someone trusts you with a secret. A short trip will bring you to the realization that you have the wherewithal to accomplish your goals. Network and study, and you’ll come across an opportunity that tempts you. HHH

PAN-ROASTED CHICKEN BREASTS WITH SHALLOT-THYME SAUCE Servings: 4 Start to finish: 1 hour

CANCER (June 21-July 22): Enjoy spending time with people you love. Socializing and trying new things will lead to interesting encounters that will have a lasting impression on you. A friend, lover or children will impact your life and the choices you make moving forward. HHHH

CHICKEN: 4 (12-ounce) bone-in split chicken breasts, trimmed, brined if desired Salt and pepper 1 tablespoon vegetable oil

LEO (July 23-Aug. 22): Don’t fall into a trap. If someone is too complimentary, he or she probably has a hidden agenda. Be wary of anyone who wants you to make a commitment to something you know little about. Moderation will be necessary. HH

SAUCE: 1 large shallot, minced 3/4 cup chicken broth 1/2 cup dry vermouth or white wine 2 sprigs fresh thyme 3 tablespoons unsalted butter, cut into 3 pieces and chilled Salt and pepper For the chicken: Adjust oven rack to middle position and heat oven to 450°F. Pat chicken dry with paper towels and season with salt and pepper. Heat oil in 12-inch oven-safe skillet over mediumhigh heat until just smoking. Cook breasts, skin side down, until well browned, 6 to 8 minutes. Flip breasts and brown lightly on second side, about 3 minutes. Flip breasts skin side down, transfer skillet

e f

VIRGO (Aug. 23-Sept. 22): Learn all you can and get involved in events, meetings or conferences that will help you decipher what your options are. A positive change is within reach, and a move or trip will be eye-opening. Romance is in the stars. HHHHH

to oven, and roast until chicken registers 160 F, 15 to 18 minutes. Remove skillet from oven (skillet handle will be hot). Transfer chicken to serving dish and let rest while making sauce. For the sauce: Be careful of hot skillet handle, pour off all but 1 teaspoon fat left in skillet. Add shallot and cook over medium heat until softened, about 2 minutes. Stir in broth, vermouth and thyme sprigs, scraping up any browned bits, and simmer until thickened and measures 2/3 cup, about 6 minutes. Discard thyme sprigs and stir in any accumulated

chicken juices. Reduce heat to low and whisk in butter, one piece at a time. Off heat, season with salt and pepper to taste. Spoon sauce over chicken and serve. n Nutrition information per serving: 280 calories; 134 calories from fat; 15 g fat (6 g saturated; 0 g trans fats); 109 mg cholesterol; 360 mg sodium; 2 g carbohydrate; 0 g fiber; 1 g sugar; 27 g protein. n For more recipes, cooking tips and ingredient and product reviews, visit www.americastestkitchen.com.

Experience the finest wines straight from the vineyard MARKETPLACE by Rustan’s The World of Wine Fair features premium wines sourced directly from estates and sold at exclusive rates. The event boasts of selections from eight different winemaking countries, including Italy, France, the US, Chile, Argentina and more.

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MARKETPLACE by Rustan’s (www.rustansfresh.com) is curating the best in wine under one roof at the World of Wine Fair from September 28 to 30 at the Shangri-La Plaza Grand Atrium. Featuring premium wines sourced directly from estates and sold at exclusive rates, the event boasts selections from eight different winemaking countries, including Italy, France, the US, Chile, Argentina and more. Shoppers will also have the special opportunity to learn more about wine culture from 15 of the most respected international winemakers and wine experts in the business. Both aspiring sommeliers and avid wine enthusiasts will be delighted to explore a unique, especially curated selection plucked directly from the wine estates where the wines were produced and stored—an important factor that ensures the wine’s quality, as well as the best price. Among the featured wines are the iconic Torlasco Barbaresco DOCG 2013, the exceptionally rare Château Léoville Las Cases Saint Julien 2010 (rated 98 and 99 by the famous wine critics Robert Parker and James Suckling, respectively), the world-renowned and iconic Terre Di Pozzo Amorone Della Valpoicella DOCG 2014 and several others.

Discover more about wine in Straight from the Vineyard sessions, where nine renowned winemakers will be discussing topics as varied and stimulating as the history and heritage of the Rioja wine region to the complex wine classification of Bordeaux. To register for a session, simply

present your Fresh, Marketplace or Sapphire card at any Marketplace by Rustan’s branch in The Shang, Rockwell or Makati and pay P299 a session. Non-cardholders may enroll for only P500. As a gift, all participants in the sessions will walk home with a free bottle of wine. Enjoy a 10-percent off on all bottles purchased at the fair, and a 15-percent off if you get six or more bottles. Those who spend P5,000 or more will also be entitled to a free delivery. Earn a raffle ticket to the World of Wine Raffle Promo if you spend a minimum of P1,000 from September 27 to 30. The exciting prizes at stake include two Swarovski Gift Certificates worth P20,000, three Apple iPads (32Gb) and a trip for two to Napa Valley with a private vineyard tour of Beringer. The grand prize is a spectacular trip for two to France, with a two-night stay at the Lamouthe Mansion and Vineyard to enjoy how their wines are made. Sample the best wines from around the world at the World of Wine Festival until October 1 at the Shangri-La Plaza Grand Atrium. You can also continue to enjoy exclusive discounts at the Happy Wine Festival by shopping at any Marketplace by Rustan’s branch from September 28 to October 7.

LIBRA (Sept. 23-Oct. 22): Don’t be fooled by a risky venture. You are better off avoiding a joint venture and sticking to what you can afford when it comes to your living expenses and overhead. Work hard, save and don’t feel obligated to pay for others. HHH

SCORPIO (Oct. 23-Nov. 21): Look for different ways to improve your life. A change at home or to your daily routine will broaden your outlook. Express your feelings to someone you love, and you’ll find a way to spend more time together. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Get your responsibilities out of the way. The more intent you are to finish what you start, the easier it will be to relax and enjoy your downtime when the work is complete. An emotional incident should be put to rest. HHH

CAPRICORN (Dec. 22-Jan. 19): Not everyone will be in favor of the changes you want to make. Give others the option to do as they please as long as they don’t disrupt your plans. Trust in your ability, and you’ll be happy with the results you achieve. HHHHH

AQUARIUS (Jan. 20-Feb. 18): Uncertainty will put you in a precarious position. Don’t give in to temptation, make personal changes or get involved in something that isn’t right for you. Say no, and head in a direction that will bring you the highest return. HH

PISCES (Feb. 19-March 20): The past will provide you with answers. Check in with someone you used to be close to and find out what you’ve missed. A relationship will take a turn that will help you fulfill one of your dreams. HHHH BIRTHDAY BABY: You are persistent, active and original. You are innovative and passionate.

‘ank about it’ BY TIMOTHY E. PARKER The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 Port position 5 Close sharply 9 Winter wrap 14 Nabisco treat 15 Like greasy food 16 Churchgoers with pipes 17 Easy shooting distance 20 Most highly strung 21 Three-syllable foot 22 Medicinal plant 23 Food on the dusty trail 24 Type of Roman wrestling? 27 Is an actor in poker 32 Band in The Mikado? 35 Act over-the-top 37 Threat to a liner 38 Place to detail financial woes 42 Words after “hang” or “glom” 43 Web company 44 Twins in no comment? 45 Lover of self-interest 48 Cucumber kin 50 Range place

2 Extremely small amounts 5 56 Beautiful feature of 56-Down 60 Composition for 16-Across 62 Provider of tasty claws 64 Tightly twisted thread 65 Dispatched 66 Norwegian capital 67 1990s Beck hit 68 Things that change every 365 days 69 Jazz legend Jackson DOWN 1 Runs easily 2 Wear away 3 Fake out 4 Working on one’s muscles 5 Loud cries 6 Upbeat little ditty 7 Shrimp ___ Creole 8 Talkative bird 9 Hard-to-read signature 10 British man 11 Superb rating 12 Pre-fixes? 13 Worry and worry

8 One handing you a ticket stub 1 19 Door attachment 23 Summer residence 25 Australian bird 26 Duplicate 28 Tabloid subject 29 Chimney shaft 30 Thing to fill out 31 Collector’s goals 32 Symphony tuner 33 Firecracker sound 34 “___ each life...” 36 Returning sound 39 Japanese pond creature 40 Not them or me 41 Apple chore 46 Salt provider 47 “Julius Caesar” robe 49 Online entity 51 Group of brains 53 Ankle bones 54 Words with in “no time” 55 Clog relative 56 Successfully trip

7 Mixture 5 58 Aberdeen girl 59 Land in the ocean 60 Paris movie 61 Army bugs? 63 Beer bash necessity

Solution to yesterday’s puzzle:

Parentlife BusinessMirror

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Thursday, September 27, 2018

BERNADETTE CHINCUANCO, head of Branding and Communications of Philam Life

Philam Life pioneers joint life insurance plan By PAULine JOy m. GUTierreZ THE Philippine American Life and General Insurance Co. (Philam Life) is providing a two-person-coverage health and protection plan with Active Joint Critical Protect. Currently the largest life-insurance company in the Philippines, it is the first in the market to offer such product. Philam Life Chief Marketing Officer Leo Tan said the insurance offers a unique and convenient way to keep an individual and a relative—whether a spouse, a sibling, a parent or a child—protected from any untoward events. Active Joint Protect covers most common covered critical illnesses, including heart attack, stroke and cancer. The policy specifically includes an accelerated death benefit, which means that the coverage is claimed on a first-to-die or first-to-be-diagnosed basis. In this arrangement, the benefit will be paid if any of the following happens: critical illness diagnosis of any of the two people covered; or death of any of the two people covered. It is a 10-year term plan that automatically renews every 10 years until age 65 to allow coverage until age 75. This translates to the first 10 years being protected, and, barring a critical illness or a death claim, will continue to cover a person for the succeeding 10 at an adjusted premium rate. Renewal will continue every 10 years. Philam Life Brand Ambassadors Solenn Heussaff, Nico Bolzico and Mond Gutierrez led the launch of the insurance plan on September 13 in Makati. When asked as to who they will include in their coverage, they said: “Chard [actor Richard Gutierrez], being my twin, is the closest, most important person in the world to me. And if there’s any way I can take care of him, then I will,” said Mond. Solenn, on the other hand, said: “I love my mom and there’s not much I can do for her at this stage. But with this new product from Philam Life, I can do my part to make her worry less about getting sick in the future.” Nico added, “I don’t have to tell you guys how much I love my wife. And while there are millions of ways that I’ve shown this, preparing for the unforeseen future makes me breathe easier every single day.” More than protection, the joint life-insurance plan also provides a health initiative powered by the Philam Vitality wellness program, which encourages healthy living by giving incentives to policy holders for knowing and improving their health, at the same time boosting the plan coverage by up to 50 percent as they live healthier. “Back then, the insurance industry usually talked about dying and our promise was, if you die, we pay you. But the conversation has changed and we now talk about living better,” said Philam Life Head of Branding and Communications Bernadette Chincuanco. She explained that the Philam Vitality program, as well as the Live Better campaign, was based on Philam Life’s parent company and Hong Kong-based AIA Group’s Healthy Living Index 2016 research study. “It says that Filipinos have a high level of awareness when it comes to the importance of living healthy. The [problem] is we don’t take action.” Tan added to this that, 90 percent of Filipinos are concerned about the expenses of getting sick, but the majority of them don’t have life protection and health coverage. The life insurer emphasized that the country currently has a protection gap of around P1.5 trillion, and premium income in life insurance only amounts to 1.3 percent of local gross domestic product. He said, “Simply put, if something happens to me as a bread winner in the family, my family is not assured if they can enjoy the same lifestyle that they are accustomed to. In Philam Life, what we want to do is to address that gap.” “We at Philam Life always put our customers first and strive to innovate with products that address their needs,” Tan concluded.

‘Screen time’ issue is real MOMMY NO LIMITS

MAYE YAO CO SAY

mommynolimits@gmail.com

N February I was fortunate to attend Melissa Bernstein’s talk on “Take Back Childhood.” She and her husband Doug are the creators of Melissa & Doug toys. The talk covered many points on being a parent to today’s children. But one topic stuck with me. She shared how the World Health Organization (WHO) saw that in the year 2030, depression would be the No. 1 source of disability in the US and how screen time relates to this menace. There are actually psychologists today specializing on the problems caused by too much screen time on kids and young adults. Since then, I have been researching and trying to find ways to regulate my kids’ screen time. I discovered that WHO ranked unipolar depressive disorder as the No. 3 leading cause of the global burden of disease in 2004 but will move into first place by 2030. There was an interesting article from www.forbes.com by Alice G. Walton published on April 16, called “How Too Much Screen Time Affects Kids.” She shared that “strong research has been coming in over the last several years, suggesting that looking at screens for hours a day can have some serious health and mental-health consequences.” There was an infographic developed by Nowsourcing that explains these consequences quite simply.

There are three key points that I gathered from the infographic. First, our brain’s frontal cortex, which controls our impulses, is greatly affected by the release of “feel good” substance, dopamine. Second, physically screen time may cause Computer Vision Syndrome (CVS, a.k.a. Digital Eye Strain) can cause blurred vision, difficulty focusing, headaches, sensitivity to light, as well as Dry Eye Syndrome. This is caused by staring at devices and blinking 60 percent less than normal. If untreated, eye damage and even vision loss can occur. Last, the infographic shares very practical tips on putting your phone away at mealtimes, encouraging books and games, and taking breaks every 20 minutes of screen time, and setting up optimal computer screen viewing workstations for your child. Walton shared that a recent study “reported that teens who spent more time on screens in the form of social media, Internet, texting and gaming thought about suicide a lot more than kids who didn’t; while teens who spent more time doing sports, homework, socializing with friends in real life, and going to church had a lower risk for both depression and suicide.” I also read another interesting article at www. todaysparent.com, titled “4 Parent-Tested Systems You Can Use to Limit Screen Time” by Claire Gagne, published on June 4. I liked how real, easy and practical she presented her dilemma and her tips on this issue. One interesting fact she pointed out: “A 2016 Chatelaine survey of 1,000 women between 35 and 45 years of age revealed screen time is the No. 1 cause of mom guilt.” Gagne shared the thoughts of Sierra Filucci of Common Sense Media to talk to kids even at a young age about “balance not just in the context of screens, but in everything you do in your life.” She also shared her practical tips on screen time:

CELEBRITY kid “Bae Baste” strikes a pose MELISSA RICKS and her daughter Kiera with his favorite Paw Patrol Characters Kelly enjoyed checking out Shopkins’s Marshall and Chase at the recently Season 10 items. concluded Toy Expo 2018.

1. SET A SCHEDULE: This can be a specific daily duration for screen time. This works best for younger kids, who benefit from routine. The key to success is consistency. 2. SELECT BINGE DAYS: Consider choosing a day or a few days of the week in which TV or other technology is allowed. This works best for young kids and school-agers who are not yet using technology for homework or communicating with friends. The key to success is to have activities available to distract your kids from the technology, especially if your binge days are on weekends. Make sure you’ve got play dates, sports events, visits to the park or a family game night planned. Brainstorm a list of things to do when they’re bored, so their default isn’t just to turn on a screen. 3. MAKE THEM JUSTIFY THEIR USE: Whenever your kid asks to jump on to a piece of technology, they need to justify why they’re using them and not just turning to it out of habit. This is good for older kids. The key to success is to be open to talking to your kid about what they like about screens, rather than demonizing them. If they say they want to play an iPad game because they really want to pass a certain level, ask them more about it. They’ll appreciate your interest, and talking about what they’re doing on their devices will make them more likely to come to you later to discuss digital goings-on they may be uncomfortable with. 4. DOWNLOAD A TRACKING APP: There are many screen-time tracking and parental-control apps that will monitor which apps are being used in the household, for how long and by whom. An example is Qustodio. Next week I will share more advice from experts on managing our kids’ screen time. I will also share my personal struggles on this topic while raising my now 12- and nine-year-old kids. n

MODEL and actress Helga Krapf and her daughter Amelie loved the Shopkins’s Mini Packs

GOIN’ BULILIT’S Angelika Rama hugs her new Hatchimals during the Toy Expo 2018.

AMAZING TOY EXPO 2018 AT SMX CONVENTION CENTER THE most amazing gathering of toys in the Philippines recently drew thousands of kids of all ages, including celebrities who brought in their families to join in the fun. Toy Kingdom’s three-day Toy Expo 2018 at the SMX Convention Center in Pasay City featured the newest toys in the market, as well as some limited-

edition collections of well-loved brands like Star Wars, Transformers, and Gundam. Shoppers also enjoyed great discounts and exclusive promo items perfect for early Christmas shopping. During the event, the SMX Convention Center was transformed into a giant toy wonderland with fun booths and colorful themed areas

with life-sized characters, games and activities with lots of surprises for kids and kids-at-heart. In celebration of SM’s 60th anniversary, Toy Kingdom (www. toykingdom.ph) also treated the kids to 60 exclusive Meet and Greet events where kids had the chance to see their favorite characters up close. These

included Shopkins, Pinypon, My Little Pony, Hello Kitty, Spongebob, Powerpuff Girls, Paw Patrol and many more. Start the early Christmas shopping now with Toy Kingdom’s wide variety of toys available at Toy Kingdom Express outlets in The SM Store, as well as Toy Kingdom stores in most SM Supermalls.

Show BusinessMirror

Thursday, September 27, 2018

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The Philippine film industry a star a�ter 100 years MEL GIBSON

MEL GIBSON TO DIRECT, COWRITE REMAKE OF ‘THE WILD BUNCH’ NEW YORK—Mel Gibson will cowrite and direct a remake of Sam Peckinpah’s classic 1969 Western The Wild Bunch. Warner Bros. on Monday confirmed that Gibson will helm the production, with Bryan Bagby to cowrite the script with him. It will be Gibson’s first time directing since his 2016 World War II drama Hacksaw Ridge, for which Gibson earned a best directing Oscar nomination. Hacksaw Ridge was nominated for six Academy Awards, including best picture. The Oscar reception was seen by some as a comeback for Gibson in Hollywood years after he pleaded no contest in 2011 to spousal battery of his former girlfriend Oksana Grigorieva. In 2006 he went on an anti-Semitic tirade while being arrested on suspicion of drunk driving. No production start or release date for The Wild Bunch was announced. Gibson is first prepping a World War II drama to star Mark Wahlberg. AP

Peta’s ‘Ang Buhay ni Galileo’ returns THE Philippine Educational Theater Association (Peta) presents one of its landmark and iconic productions, Alan Glinoga’s critically acclaimed Filipino adaptation of Bertolt Brecht’s Ang Buhay ni Galileo, this September 28 to October 7. After a limited three-day run in Peta’s original home at the Rajah Sulayman Theater for Peta’s 50th anniversary, Ang Buhay ni Galileo now comes to the Peta Theater Center. The production revolves around the life of the 17thcentury scientist, Galileo Galilei, whose discoveries changed our understanding of the universe. The timelessness of this Peta classic shows the resistance made by the authoritarian and conservative elements of the time against the coming of a new age. The contemporary version is directed by multiawarded playwright, director and actor Rody Vera. Meanwhile, the original Galileo in 1981 production, acclaimed director Joel Lamangan, is back to reprise his role, along with other original cast members Bodjie Pascua, Manny Pambid and Archie Adamos. Original cast members Brenda Fajardo and Boni Juan also return as costume and set designers. Ang Buhay ni Galileo director Rody Vera says that people can “frame this whole play in the context of the proliferation of fake news. We live in an age that some people call ‘post-truth.’ Does that mean now that all truths are relative? It’s not that truth is dead; it is particularly that belief that we should stand against.” Misinformation and fake news have been around since centuries ago, and then and now, they “destroy the very foundations of truth,” says Vera. Ang Buhay ni Galileo has garnered citations from PhilStage 10th Gawad Buhay 2018: Outstanding Translation or Adaptation, Outstanding Original Musical Composition, Outstanding Male Lead Performance in a Play (for Joel Lamangan), Outstanding Male Featured Performance in a Play (for Bodjie Pascua and Noel Comia Jr.), Outstanding Ensemble Performance for a Play and Outstanding Production of Existing Material for a Play. Peta’s Ang Buhay ni Galileo runs from September 28 to 30, and October 3 to 7 at the Peta Theater Center, No. 5 Eymard Drive, New Manila, Quezon City. For showbuying and ticket inquiries, call 725-6244 or 721-0431 to 33, local 8109.

REELING

TITO GENOVA VALIENTE

titovaliente@yahoo.com

HIS month and the next, the Philippine film industry becomes the darling of at least two film festivals in Asia: the 27th Asia Fukuoka International Film Festival (FIFF) in Japan and the 23rd Busan International Film Festival in South Korea. In Fukuoka, the Film Development Council of the Philippines (FDCP) coordinated with the Focus on Asia Fukuoka International Film Festival in celebrating Philippine Cinema for its 100 years by highlighting a Special Feature on Filipino Films for its 2018 edition, which ran from September 14 to 23. In this regard, FDCP organized a delegation of Filipino filmmakers, artists and academicians. The words of Liza Diño, FDCP CEO and chairman, summed up it all: “The city of Fukuoka, which organizes the festival, has given importance to Philippine cinema since way back. Just a year after its inception in 1991, Lino Brocka’s Insiang already found its way as the Philippines’s first official entry to the festival. Since then, many other important Filipino films and filmmakers have been invited in Fukuoka to participate in discussion sessions, as well as symposia, which brought about a relationship of exchange with the audience of Fukuoka. This is why we are very proud that this year, we finally get to partner with them so we celebrate the centenary of Philippine Cinema together and look forward to the future of our films.” Indeed, Fukuoka has honored the Philippines not belatedly but as early as the 1990s, when the indie film phenomenon was not in sight yet. In 1995 the archive of the Fukuoka International Film Festival stated: “The festival in 1996 featured a collection of films from the Philippines, one of a few countries in the world where the domestic film industry can stand up to American films in terms of box office success. Centered on powerful, robust and entertaining films, the collection brought great excitement to the audience which included Filipinos residing in Fukuoka.” The archived notes continued: “In particular, Marilou Diaz-Abaya, a participant to our 1995 as well as 1996 festival, has come to place her most recent works for

JULIE ANNE SAN JOSE sings a fresh rendition of GMA Life TV’s station ID “There’s More to Life.”

exhibition with us. Marilou Diaz-Abaya’s positive attitude toward exchanging opportunities with local civic groups has made her one of Fukuoka’s bestknown filmmakers from Asia.” The collection of films from the Philippines included: Diaz-Abaya’s May Nagmamahal sa Iyo (listed as Mother and Child); Joel Lamangan’s The Flor Contemplacion Story and Pangako ng Kahapon (Yesterday’s Promise); Chito Rono’s Dahas (Rage); Jose Javier Reyes’s May Minamahal (Loving Someone); and Laurice Guillen’s Because I Love You. An interesting part of this collection is Gerry de Leon’s Noli Me Tangere. The archive document notes that June 1996 marked the inauguration of the Fukuoka City Public Library Film Archive, “which researches, collects, acquires, preserves and exhibits visual material centered around masterpieces in Asian and Japanese cinema.” The same document stresses how the “Film Archive has enhanced the significance of Fukuoka as a center of information on Asian films. Since 1996, a system has been established where titles exhibited at our festival are acquired into the collection of the Film Archive.” The collection of films from the Philippines are all found in this film archive, including the very first entry from Marilou Diaz-Abaya, Ipaglaban Mo (translated as Redeem Her Honor). There is a bit of a trivia in the archived annual program of the FIFF: In 1997 there was a typhoon and some of the planned events were canceled. The attendance dropped but the number of participants was still big—64. The archive notes this was so because of the large number of participants from the Philippines, many of whom paid their own travel. Under the Excellent Programs of Asia were Marilou Diaz-Abaya’s Milagros and Joel Lamangan’s Bakit May Kahapon Pa (listed as Why is There A Yesterday). As we all know, Marilou Diaz-Abaya became the 12th Fukuoka Asian Arts and Culture Prize laureate in 2001. I was in Japan then on a fellowship when the Filipina filmmaker became the toast of Japanese critics both in Fukuoka and in Tokyo. Tadao Sato, an eminent critic who was proud of Diaz-Abaya, shared with us how the filmmaker regaled and impressed the many audiences she had to address in Fukuoka after the award. It was said that Diaz-Abaya never repeated any speech: for each different forum, she had a different speech, the content dealing with themes and concerns not addressed in the previous gathering. I was walking along Kanda, Tokyo, that same year, 2001, when I saw that the banners of her film, Jose Rizal, were all over the area. Kanda is where the famous art-cinema Iwanami Hall can be found. It was

where Jose Rizal was commercially released in Japan that year. Kidlat Tahimik would be awarded the same recognition in 2012. Rey Ileto, historian and author of Pasyon and Revolution, and Ambeth Ocampo, public historian and journalist, would both win the Academic Prize of the Fukuoka Asian Arts and Culture Prize in 2003 and 2016, respectively. And now, it is 2018. The personalities have not only changed, but filmmaking and filmmakers have also shifted into different modes and are following alternative and new directions. Thus, in Fukuoka, there was a section called The Special Feature, titled “Drawn and Attracted to the Sacred Chaos.” Under this were the outstanding Filipino films directed by young filmmakers to represent the future of the country’s cinema, including Nervous Translation directed by Shireen Seno, Bagahe by Zig Dulay, Smaller and Smaller Circles by Raya Martin and Women of the Weeping River by Sheron Dayoc. The festival also featured an omnibus of regional short films with Hilom by PR Patindol, Gikan sa Ngitngit Nga Kinaidlaman by Kiri Dalena, Babylon by Keith Deligero, Si Astri Maka si Tambulah by Xeph Suarez and Jodilerks Dela Cruz, Employee of the Month by Carlo Francisco Manatad. For the Fukuoka’s special program, Restoration Asia VI, a Filipino classic masterpiece from the 1970s, Nunal sa Tubig (Speck in the Water) by Ishmael Bernal was screened in the festival as a digital restoration of the 35mm film print archived under the collection of the Fukuoka City Public Library Film Archive. The film had both Japanese and English subtitles. The screening was followed by a discussion on the restoration, chaired by Hisashi Okajima, director of Nationa Film Archive of Japan. The panel included Leo Katigbak, head of Film Restoration and Archives of ABS-CBN; Adrian Wood, founder and coordinator, Restoration Asia, Fukuoka; and FDCP Chairman and CEO Liza Diño. The Busan International Film Festival is slated to run from October 4 to 9. If a visa is granted, I’m going to be there to participate in a forum. For months now, a committee organized by the FDCP, which involves Doy del Mundo, Nick de Ocampo, Teddy Co and myself, met several times to discuss how Philippine cinema could be articulated in that festival in South Korea. We also were assigned to write essays that would come out in the book to be issued during the festival. I look forward to writing about Busan, the film festival and the place, in my column. If fate would allow, I also plan to travel by ferry from Busan, or Pusan, to Hiroshima in Japan—for old time’s sake. n

FROM left: GMA Artist Center talents Yasser Marta, Kelvin Miranda, Jazz Ocampo, Arra San Agustin, Julie Anne San Jose, Analyn Barro, Klea Pineda, Matthias Rhoads, Kevin Sagra and Jay Arcilla

GMA Life TV at 10: Great things coming to life GMA’S international lifestyle channel GMA Life TV marks another milestone as it celebrates its 10th anniversary this month by giving GMA fans abroad exciting new treats and programs. First up, GMA Life TV’s ambassador and bestselling music artist and actress Julie Anne San Jose sings a new rendition of the station ID, “There’s More to Life,” featuring GMA Artist Center stars Klea Pineda, Arra San Agustin, Matthias Rhoads, Jazz Ocampo, Analyn Barro, Kevin Sagra, Kelvin Miranda, Yasser Marta, Jay Arcilla and Bruno Gabriel who all bring in a splash of youth to the lively music video. A vibrant new mix of programs across all lifestyle genres are also coming to Life, including favorites like Idol sa Kusina, MARS, Day-Off, Ang Pinaka, Biyahe ni Drew, Poptalk, Reel Life and Taste Buddies; well-loved series The One That Got Away, My Korean Jagiya, Meant to Be, Legally Blind and Sa Piling ni Nanay; Life Tunes “Playlist” which showcases GMA artists’ music videos; cooking show Foodtrip Season 4, as well as GMA News TV International’s blocktimers Master Builders, and The

Working Class Season 3. In addition, viewers may stay tuned for updates on free previews and their favorite shows by following GMA Life TV’s new Instagram account, @gmalifetv. Some of the subscribers shared what they love most about GMA Life TV and sent their well-wishes to the channel for reaching this significant milestone. “I’ve been a subscriber of both GMA Pinoy TV and GMA Life TV for 10 years now,” said Rizel Barrios, a subscriber from Illinois in the US. “Their shows are very contemporary, very informative, and very entertaining. From cooking shows, to traveling shows, to re-runs of my favorite GMA teleseryes. Happy 10th anniversary GMA Life TV! Wishing you more years of worldwide and worldclass broadcasting!” Ronald Macapagal from Toronto, Canada, also said that they have been a GMA subscriber since its launch in Toronto. “Their programs, especially the teleseryes both at Pinoy TV and Life TV, even replayed, are amazing and we didn’t encounter much problems

as to viewing and programming. Our TV channel is always tuned in to GMA Pinoy, GMA Life and GMA News TV because we don’t want to miss any of their programs.” “We are bringing in an exciting new lineup of program varieties to give our viewers quality content that is refreshing to watch,” said GMA First Vice President and Head of International Operations Joseph T. Francia. “We continue serving our mission of not just bringing Pinoys abroad closer to home, but also giving them the best of Filipino lifestyle wherever they may be,” he added. Viewers from across the globe can watch their favorite GMA shows on GMA Pinoy TV, GMA Life TV, GMA News TV International and GMA On Demand in over 60 countries across North America, Middle East and North Africa, Europe and the Asia Pacific via cable, direct-to-home, Internet protocol TV and over-thetop/mobile distribution platforms. For the program guide, visit www.gmapinoytv.com.

Envoys&Expats BusinessMirror

www.businessmirror.com.ph | Thursday, September 27, 2018 E1

Consul champions Taiwan’s youth as voices of hope, unity

By Recto L. Mercene

@rectomercene

HEN Taiwanese Consul Steve C. C. Hsia saw Makati City for the first time, he was amazed with the number of skyscrapers that line up its business district’s horizon. “We [from Taiwan] know Manila is a very advance city, but we didn’t expect that there are so many highrise buildings,” he told the BusinessMirror during an exclusive interview. “Yeah, I’m surprised. Back home, we only have Taipei 101 [which has 101 floors], and a new one coming up with 70. Most of our buildings are 30 or 40 [stories high]. But you have a very beautiful skyline,” added Hsia, who accompanied a group of Taiwanese students touring Southeast Asia on a weeklong visit in the country. The said young adults comprised the 2018 International Taiwan Youth Ambassadors—outstanding

students from various Taiwanese universities who undertook a rigorous exam to qualify for the aggrupation. They were given a glimpse of what their “southern neighbors” look like and how their citizens interact, as well as a chance to see for themselves other societal aspects. Taiwan, formally called the Republic of China (ROC), hopes that these students would be the catalysts for a better understanding of their nearby nations, and bring their island-state closer to the 600 million diverse inhabitants of the Asean region. Hsia put it succinctly when he said ROC, under President Tsai Ing-wen,

has launched the New Southbound Policy since assuming office in 2016 to create “a gateway for Taiwan to expand its array of multifaceted cooperation and partnership with Asean countries.” The consul, who has a Master’s degree in Diplomacy from the National Chengchi University, said: “We think this can be a platform for these young generation to communicate, to understand each other, to make friends [even, and] to lay the foundation for the future.” “Our young generation can… eventually become government officials or business leaders who can work together with their newfound friends,” Hsia added. Currently posted at the Ministry of Foreign Affairs as director general on Home Assignment, Public Diplomacy Coordination Council, Hsia said the southbound policy program started “when I was still in charge of East Asian and Pacific Affairs.” “[Its] main goal is to have more chances and opportunities for the younger generation to understand international affairs and explore the world, with the hope that they can help [our] government make

its voice heard.”

An emerging market

HSIA said, “Our New Southbound Policy is very important now because in the last 10 or 20 years, we had focused our economic activities on the Chinese market. Our government said we should encourage our businessmen to diversify to other Asean countries.” He said Taiwan considers the Philippines as an emerging market. Aside from the Philippines, the young ambassadors have been to Indonesia before coming over here. Hsia explained that the group went to Palau before coming to the Philippines. Speaking of Palau, he stated that it “is Taiwan’s closest ‘diplomatic ally,’ while the Philippines is our closest neighbor, since it is only three hours away by flight.”

First-time visitors

ASKED how the youthful and exuberant Taiwanese students reacted when they saw Manila for the first time, Consul Hsia brimmed with approval. “They like the malls,” he pro-

nounced. “ They bought many chips,” which he learned they bought as gifts for their friends and relatives back home. “The malls and shopping centers here are different,” as he gushed after finding out that they were very large and crammed with consumer goods, food items, and many things in between. “In Taiwan the shopping areas are spread out; here [they are] very concentrated. The malls in Greenbelt are triple the size our large shopping centers. I could just imagine the Mall of Asia would be much bigger.” “Greenbelt is just in front of our hotel, so I went out and bought dried mangoes while for the girls, they got chips. They told me the chips are ‘very good,’ and they purchased a lot to bring [home and] share with their friends.” According to Consul Hsia, the young ambassadors were scheduled to participate in a cultural performance at the University of Santo Tomas, where they will display their talents. “The boys will also show how to play the diabolo,” which is the

Taiwanese version of the yoyo, or sometimes called “Chinese yoyo.” Hsia revealed there had been many competitions of the game in Taiwan, and the students with him who happen to play the ancient game just won a championship.

Varying views

HSIA shared that prior to his assignment in Taiwan’s Ministry of Foreign Affairs, he was posted in the Netherlands, then in Washington, D.C. Asked how he views the current relations between Taiwan and the United States, he relayed that when he was young, he received a form of assistance to study there. At that time Taiwan was host to a large US military installation, and he saw the relations in a positive light. “Ever y t hing about t he US seemed good. So on my first overseas assignment to the US, I thought, ‘wow, everything is great.’ But when I got posted in the Netherlands, I found out they have different ideas from the Americans.” Continued on E2

Envoys& BusinessMirror

E2 Thursday, September 27, 2018

TECH TRANSFER

TAIWAN EXCELLENCE AWARDS @ S.I.P. 2018:

Visions of integrated, smart cities

T the recently held System Integration Philippines (SIP), the Taiwan Excellence Awards held a simultaneous seminar where industry visionaries spoke of the technological innovations that their brands have been able to achieve, and how these could be integrated into systems and infrastructures that could make homes, facilities and even entire cities function better. The afternoon kicked off with Taipei Economic and Cultural Office Director Alfred Wang, who expressed that Taiwan is highly interested in the Philippines’s aggressive infrastructure growth, and that he would like to see more cooperative efforts toward more advanced societies and technologically advanced economies in the two countries within the next two years. Fittingly, the first speaker was eFormula Chief Technology Officer (CTO) Max Liu. His presentation, “The Smart Way of Saving,” tackled energy efficiency and energy conservation concepts, most notably in urban developments. He touched on his company’s focus on a two-pronged approach to energy conservation: increasing the efficiency of items that make use of energy, while at the same time, trying to find ways to decrease energy consumption. He shared the belief that the need for “smart tech” has become imperative. The CTO also revealed how,

through the involvement of local governments in local energy planning, they envisioned a 20-percent to 40-percent energy efficiency where their systems are adopted.

‘Li-Fi’ introduced

LIU’S talk was in connection with the next presentation of Leiyueh General Manager Yuan Lin on “The Smart World of Illumination,” where he spoke of smart homes and offices holding the keys to energy efficiencies and how they could help decrease energy consumption significantly. Especially intriguing was the concept of Li-Fi, a method of transmitting data through light that has the capacity to be up to seven times more efficient than Wi-fi. Lin also tackled briefly on lighting used to improve lives: improving mood and well-being with strategic light technology. Senior Manager of Acer Cloud Technology (Taiwan) Inc. Jimmy Wang then took the stage to dis-

EVEREST Display Inc. Marketing Manager YC Tang (from left), Leiyueh Enterprise Co. Ltd. General Manager Yuan Lin, Acer Cloud Technology (Taiwan) Inc. Senior Manager Jimmy Wang, E-Formula Technologies Inc. Chief Technology Officer Max Liu, Taipei Economic and Cultural Office in the Philippines Director of Economic Division Alfred Wang, Department of Energy (DOE) Director Jesus Tamang, Taiwan Trade Center (Manila) Director Clement Chen, DOE’s Assistant Directors for Electric Power Industry Management Bureau Irma C. Exconde and Renewable Energy Management Bureau Marissa P. Cerezo, and Sandalphon International Sleep Expert Johnson Chang

cuss his company’s development of media devices that would not only display, but also collect, assess and analyze information then transmit it to a control panel where it could be put to use. Wang’s talk, “Intelligent Digital Out-of-Home Media Solutions,” touched on the potential uses of the technology: marketing and sales implications, as well as possible security and home-safety uses. A visionary who saw classrooms as being redefined into any open space that could host students was up next. In his discussion, “The World is a Classroom!,” YC Tang offered that “if you change classrooms, you change the world.” The

marketing manager of Everest Display Inc. presented Boxlight Mimio, a hardware and software combo that could potentially change the way students consumed information in a classroom forever. A system consisting of a receptive projector and software that allowed educators to easily show and manipulate the media they needed to present to their students, the groundbreaking technology has yet to be available in the Philippines, but has incredible potential for use in remote areas where teaching materials are scarce.

Sleep and sustainability

THE next topic hinged on the qual-

ity of life in a modern world. Sleep expert Johnson Chang of Sandalphon Internationall presented an intriguing device: the SleepBank. His presentation, “Self-Healing During Sleep,” discussed the device’s safety and effectiveness in encouraging the body to succumb to deeper, more restful sleep through the use of Sleep Frequency Technology (SFT). Without detectable sound or vibration, SFT is a natural magnetic field radiated by the SleepBank. This naturally relaxes the human mind and body, leading—instead of coercing it—to fall asleep. Better quality of sleep leads to happier, healthier individuals, who will, in

turn, carry on to become better citizens of an integrated society. As marketing head of Asus, Anvey Factora discussed his company’s products in a presentation: “Sustainable Product System,” which covered the different product lines that his company has developed, and explained the company as “driven by its need for innovation [and] also guided by its set of virtues.” AVer Information Inc. Product Manager Christian Ramos rounded up the afternoon as he explained to the attendees his company’s products helping businesses and consumers alike find the right mix of equipment to meet their communication network needs in his talk, “Technology is Changing; Let Aver Show You the New Communication Highway.” The seven mini-discussions sparked the attendees’ interests and ignited their interests to bring these products and systems to the Philippines soon.

Taiwan Excellence Awards

THE Ministry of Economic Affairs established the Taiwan Excellence Awards in 1992. It is a yearly recognition to eligible candidates who undergo a rigorous and stringent selection system that covers four major aspects: research and development, design, quality and marketing. Products that are selected for the awards are deemed to have innovative value. They are chosen to serve as examples of the Taiwanese domestic industries for promotion to the international market by its government, while shaping the creative image for Taiwanese businesses.

Consul champions Taiwan’s youth as voices of hope, unity PHL participates in biggest Asian technology conference

ROUND 80 representatives from the Philippines, including officials from the Department of Information and Communications Technology (DICT) and start-up companies, participated in RISE 2018 at the Hong Kong Convention and Exhibition Centre. Dubbed as the largest technology conference in Asia, RISE 2018 was organized by the team behind Web Summit, Europe’s largest technology conference. It was held in Lisbon since 2016 after being hosted in Dublin since its inception in 2009. This year’s edition featured 18,000 participants from more than 100 countries. Speakers included Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor, Microsoft President Brad Smith, Grab Cofounder Tan Hooi Ling and Amazon Chief Technology Officer Werner Vogels. Philippine start-ups included e-payment app SiargaoPay, online grocery delivery site Pushkart.ph, electricity bidding platform Exora, online shopping

site SuccessMall, celebration app Searchfinn and B2B marketplace matching site Burket. Exora and Pushkart.ph were also shortlisted to pitch their companies to potential investors during the conference. The DICT’s Emmy Lou V. Delfin and Juvy Manlapaz, Tenten Life CEO Michelle Leong and National ICT Confederation of the Philippines’s Joanne Phillips also called on Consul General Antonio A. Morales. DICT officials noted that one of its objectives is to consolidate around 400 start-ups in the Philippines into one single organization, as well as to streamline coordination and partnerships. They also presented the Philippines’s major initiatives designed to make ICT part of the country’s inclusive growth strategies, such as Tech4Ed and People Connect Free Wi-Fi projects. Consul General Morales also looked forward to the Philippines’s participation in next year’s RISE conference to promote the country’s start-ups and various ICT initiatives.

HSIA (seated, fourth from right), poses with officials from Taipei Economic and Cultural Office in the Philippines, the 2018 Taiwan Youth Ambassadors and their hosts from the BusinessMirror. Continued from E1

As he got accustomed to the Europeans’ way of life, Hsia started to appreciate their way of thinking, where “you don’t have to do everything in a hurry. You do things slowly and make things better, or even perfect.” He observed that Americans are always “in a big hurry; so businesslike. But the Europeans, they enjoy their lifestyle, and so it changed my perspective.”

Enjoying things Filipino

THE consul said the students also visited the Philippine Tzu Chi Foundation and had a call on some city mayors. He accompanied the new head of the Taipei Economic and Cultural Office in the Philippines, Representative Michael Peiyung Hsu, who paid a courtesy visit to publisher T. Anthony C. Cabangon in the BusinessMirror office. The visitors were welcomed and delighted with a feast of original Filipino cuisine, which consisted of karekare, bistek (the local version of beef

CONSUL Steve C. C. Hsia and Taipei Economic and Cultural Office in the Philippines Representative Michael Peiyung Hsu

steak), chicken adobo and a surprise delicacy in balut, the unhatched embryo of a mallard duck. A handful gamely devoured and sipped the soup that comes with the package. From his evaluation, Hsia found out that the latest batch of youth ambassadors have improved a lot, compared to their previous counterparts “because these students easily caught up to learn the program. I think it’s because they are young and talented, and when they go back to their campuses, they can share their experiences with their junior colleagues.” Hsia said these promising young students “can be young ambassadors and can be the voice of Taiwan because when we travel abroad, they could show their talents to foreign friends and let them find out how Taiwan is.” “They are Taiwan’s future hope and they will carry on the torch of enhancing the robust and cordial relationship between our two countries. They will make a contribution to forge the closer bond between our peoples,” he declared.

&Expats

envoys.expats.bm@gmail.com | Thursday, September 27, 2018 E3

FILM, ART, MUSIC, ENTERTAINMENT

Korean film festival ’18 goes ‘time traveling’

ASSASSINATION is about an agent tasked to bring in Korean rebels who will assassinate a Japanese army commander and a pro-Japanese Korean businessman. Along the way, they were betrayed as hired killers are sent after them.

DONGJU: The Portrait of a Poet narrates the life of Korean poet Yun Dong-ju and his struggles during the Japanese ruling.

WARRIORS of the Dawn follows Prince Gwanghae’s story about leading the court and opposing the enemies during the war.

THE Pirates is about the unexpected adventure of mountain bandits who hunt down the whale that swallowed the Emperor’s Royal Seal, and then encounter a female pirate-captain.

NAMELESS Gangster: Rules of the Time is a story of two business “partners” who face conflicts when the government pronounces its war against crime.

HE annual Korean Film Festival has just unreeled at the SM Megamall Cinema, which gave mallgoers a glimpse of Korean history and culture through its “very carefully selected movies.” No less than Lee Seok-hoon, director of the festival’s opening film The Pirates,flew in from Korea as he attended the launch and gave a special talk that centered on the Korean Film Industry. A joint project of the Embassy of the Republic of Korea, the Korean Cultural Center in the Philippines and SM, this year’s festival theme is “Time Travel,” with five historical and classic films that will take moviegoers back in time. Each film tells a story from the past and inspires a deeper understanding of Korea’s cultural diversity. Through the festival, Filipino

audiences will see masterful storytelling, acting and technological advancements in Korea’s thriving film industry in the festival’s five featured films. These include The Pirates, Assassination, Warriors of the Dawn, Dongju: The Portrait of a Poet, and Nameless Gangster: Rules of the Time. The festival was also featured at SM Cinemas in key cities around the Philippines: in SM City Baguio, SM Lanang Premier in Davao, SM City Iloilo and SM City Cebu. The Korean Film Festival is one of the many exciting cross-cultural events by SM Cinema.

SM Senior Vice President for Marketing Millie Dizon, with Korean Cultural Center (KCC) Director Lee Jin-cheol

KCC Junior Manager Song Ji-eun and Assistant Director Lee Du-kyung

KOREA Tourism Organization’s Jo Jun-gil

UNITED Korean Community Association in the Philippines’s Kang Chang-ik and Julia Lee

KCC volunteers wear hanbok,the Korean traditional dress.

KOREAN filmmaker Lee Seok-hoon

Czech comics centennial set in Manila

MUTINY of the Brains by Václav Šorel & František Kobík (1978)

N celebration of the 100th year of Czech comics, the famed works of notable Czech artists and writers of both mainstream and alternative comics from the last century are on exhibit at the National Commission for Culture and the Arts (NCCA) Gallery in Intramuros, Manila. The show, entitled “Meanwhile, Elsewhere,” is a grand cultural collaboration between the Embassy of the Czech Republic in Manila and the NCCA. Said exhibition forms part of the commemorations of the major anniversaries of 2018: the centenary foundation of Czechoslovakia (1918), 70 years of the establishment of the infamous communist regime (1948) and 25 years of the creation of the Czech Republic (1993). The expo not only shows the themes and authors in all their respective historical periods until today, but also

NEGOTIATED Stories by Keva (2010)

recaps a tumultuous national history through comics that aptly reflects the historical, political and cultural changes of Czechia. Samples of different illustrations are showcased to depict the history and evolution of Czech comics, and how they were affected by the times. Popular works like Kája Saudek’s superheroes, Jaroslav Foglar’s five-generation classic Fast Arrows,as well as pre-World War II artist Ondřej Sekora’s early comics precursor Ferda the Ant are also on display. Furthermore, a selection of contemporary avant-garde comics of sorts such as Jaromír Rudiš’s Alois Nebeland and Jaromír 99 will amaze all young comics enthusiasts. Visitors of all ages can enjoy the exhibition as it contains numerous original comic books and magazines. The fate of Czech comics reflects not only the periods of high creative freedom,

but also the times of stagnation and control, as there was a political ban during the Communist rule in Czechoslovakia that was only lifted when democracy was restored in 1989, when the boom of comics recommenced. In attendance on opening night was Ambassador of the Czech Republic to the Philippines Jaroslav Olša Jr.—an avid comic fan and collector himself— as well as curator of the exhibit and Moravian Museum art collections in Brno Tomáš Prokůpek. NCCA board members and representatives joined the two gentlemen. The exhibit is at the NCCA Gallery, 633 Gen. Luna Street, Intramuros, Manila, and will be open until the end of September 2018. For details, contact the gallery secretariat at 527-2192 loc. 308, 324 and 328; e-mail: nccagallery09@ gmail.com.

Envoys&Expats BusinessMirror

E4 Thursday, September 27, 2018

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EMBASSIES, EVENTS, ETC.

208th anniversary of Mexico’s independence LA VOZ DE MÉXICO

Amb. Gerardo Lozano

EXICO recently celebrated the 208th anniversary of its proclamation of independence, projecting strength and dynamism. With a territorial area of almost 2 million square kilometers, as the fifth-largest country in the Americas and the 14th-largest nation in the world, its economic lead is widely acknowledged. According to the International Monetary Fund, Mexico’s economy is 15th in the world. It is also a vanguard in trade and commercial instruments, with 12 free-trade agreements signed involving 46 countries. Today Mexico means opportunity. Moreover, this year marks a special occasion in bilateral ties

between Mexico and the Philippines, as we also celebrate the 65th anniversary of the establishment of our formal diplomatic relations. However, our history as sisternations can be traced from the 16th century when we were part—as territories of the Spanish Crown—of one of the world’s first economic globalization and cultural experiences through the Acapulco-Manila Galleon.

One direction

AS developing countries, Mexico

A WELCOME arch greeted Mexicans and guests of the embassy.

GUESTS grooved the night away.

and the Philippines share several challenges, such as immigration, the fight against poverty, climate change, natural disasters and economic inequalities, among others; but also, the commitment of generating better living conditions for our people. I am convinced that bilateral and international cooperation are important instruments to achieve the said

AMBASSADOR Lozano waved his country’s tricolor during Mexico’s National Day celebrations.

objective, and I am confident that our countries are working tirelessly in that direction. In facing the abovementioned challenges, the last six years of the Mexican government, led by President Enrique Peña Nieto, achieved the most important structural reforms made in decades. The constitutional changes in various sectors, distinguishing the energy, telecommunica-

LOZANO (left) led a wreath-laying ceremony with embassy officials.

tions, fiscal and financial sectors have boosted productivity, competitiveness and accountability throughout Mexico.

Better, greater nation

FURTHER, this year has been a remarkable one for Mexico. In July our country held a peaceful and democratic presidential election with the participation of 89 million voters.

As we know, as a result of this historic process, Andrés Manuel López Obrador was elected as new president of the United Mexican States. He will be taking the oath of office on December 1. In this context, I am sure that with the participation of all the Mexican people, united arm to arm, it will be possible to reach all our goals to have a better and a greater nation for all the Mexicans.

Envoy commends Asiad medalists

AMBASSADOR Haneda (third from right), with Tsukii (third from left), Saso (second from right) and special guests during the awarding ceremony.

HREE Japanese-Filipino members of the Philippine team—Yuka Saso, Kiyomi Watanabe and Junna Tsukii— won medals at the recently concluded 18th Asian Games in Jakarta-Palembang, Indonesia. In recognition of their achievements in the Asiad and their contributions to promote mutual understanding, as well as good

relations between the Philippines and Japan through sports, Ambassador Koji Haneda awarded the trio with Certificates of Commendation. Haneda hosted a victory party for the athletes in his residence on September 14 and presented the certificates in an awarding ceremony to Saso and Tsukii, who were in attendance to receive their awards.

In separate speeches, Saso vowed to make the best use of the lessons she learned and the experiences she gained at the Asian Games, while Tsukii expressed her determination to keep improving and hoped to win more medals for the country in upcoming international championships, especially in Tokyo at the 2020 Olympics.

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Health&Fitness

CANCER: 18.1 MILLION NEW CASES, 9.6 MILLION DEATHS RABIES-FREE PHILIPPINES IN 2030: IS IT POSSIBLE?

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September 27-October 3, 2018

Gemmalyn Crosby Sports to gather top athletes, sports enthusiasts

HE Gemmalyn Crosby Sports Festival (GCSF), supported by the Philippine Sports Commission and now on its fifth year, is the biggest gathering of athletes, sports, fitness and wellness enthusiasts in the Philippines happening this October 6 and 7 at the Philippine International Convention Center (PICC). Founded by Gemmalyn Crosby, a Filipina celebrity athlete and the first Philippine IFBB (International Federation of Body Building & Fitness) Pro Card Holder, Crosby aims to support and help enrich sports organizations and athletes in the Philippines by bringing them together and allowing them not only to compete professionally but also to grow together in a supportive environment. “This year we are holding a nationwide two-day multisport event in Metro Manila to cater to a bigger number of the attendees, athletes and sports and sponsors who would like to participate in this noteworthy event,” Crosby said. The annual event features various popular sports—Body building, dance sport, basketball, Brazilian jujitsu, taekwondo, karatedo, Filipino martial arts, mixed martial arts, muay thai, boxing, fencing, wrestling, weightlifting, Zumba and a lot more. At the PICC, there will also be booths of brands that support wellness and nutrition and overall health. “Fit Run,” the first fun run organized by GSCF, which can be participated in by everyone, shall kick off this year’s sports fest and will be in

2 Health&Fitness September 27-October 3, 2018

three categories—3K, 5K and 10K. The rest of the activities will happen at the PICC. Sports fans will be amazed at the sports demonstrations, workshops and product giveaways, plus the appearance of athletes and celebrities who love sports. According to Crosby, “I am promoting my advocacy through this event to showcase the amazing talents and skills of our fellow Filipinos in the field of sports. Through a grand culmination of various sports and fitness competition—both amateur and professional—we want to fortify the spirit of sportsmanship and display how sports can impart good character and values, aside from promoting a more active and healthier lifestyle.” To join this GCSF event, visit www. PhilippineFitnessExpo.com or email infogcsf@gmail.com.

Health&Fitness

is published and distributed free every Thursday by the Philippine Business Daily Mirror Publishing Inc. as a project of the BusinessMirror. Publisher Editor in Chief Editor Group Creative Director Layout Artist Online Editor VP-Advertising Sales Account Managers Circulation Manager Contributors Contributing Photographer

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CANCER: 18.1 MILLION NEW CASES, 9.6 MILLION DEATHS Cancer will remain one of the leading causes of death worldwide.”

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World Health Organization

By Henrylito D. Tacio

HE global cancer burden is estimated to have risen to 18.1 million new cases and 9.6 million deaths in 2018, according to a new report released by the International Agency for Research on Cancer (IARC). The report said 1 in 5 men and 1 in 6 women worldwide develop cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease. Worldwide, the total number of people who are alive within five years of a cancer diagnosis, called the fiveyear prevalence, is estimated to be 43.8 million.

4 Health&Fitness September 27-October 3, 2018

The latest estimates on the global burden of cancer, called the Globocan 2018 database, is accessible online as part of the IARC Global Cancer Observatory. It provides estimates of incidence and mortality in 185 countries for 36 types of cancer and for all cancer sites combined. “The increasing cancer burden

is due to several factors, including population growth and ageing, as well as the changing prevalence of certain causes of cancer linked to social and economic development,” IARC said in a press statement. “This is particularly true in rapidly growing economies, where a shift is observed from cancers related to poverty and infections to cancers associated with lifestyles more typical of industrialized countries.” IARC is part of the World Health Organization. Its mission is to coordinate and conduct research on the causes of human cancer, the mechanisms of carcinogenesis and to develop scientific strategies for cancer control. Cancers of the lung, female breast

and colorectum are the top three cancer types in terms of incidence, and are ranked within the top 5 in terms of mortality (first, fifth and second, respectively). “Together, these three cancer types are responsible for one third of the cancer incidence and mortality burden worldwide,” the report said. Cancers of the lung and female breast are the leading types worldwide in terms of the number of new cases. “For each of these types, approximately 2.1 million diagnoses are estimated in 2018, contributing about 11.6 percent of the total cancer incidence burden,” the report said. Colorectal cancer (1.8 million cases, 10.2 percent of the total) is the third-most commonly diagnosed cancer; prostate cancer is the fourth (1.3 million cases, 7.1 percent); and stomach cancer is the fifth (1.0 million cases, 5.7 percent), Lung cancer, the report pointed out, is also responsible for the largest number of deaths (1.8 million deaths, 18.4 percent of the total), because of the poor prognosis for this cancer worldwide. It is followed by colorectal cancer (881,000 deaths, 9.2 percent), stomach cancer (783,000 deaths, 8.2 percent) and liver cancer (782,000 deaths, 8.2 percent). Female breast cancer ranks as the fifth leading cause of death (627,000 deaths, 6.6 percent) because the prognosis is relatively favorable, at least in more developed countries. The report singled out lung cancer as the most commonly diagnosed cancer in men (14.5 percent of the total cases in men and 8.4 percent in women). It is also the leading cause of cancer death in men (22 percent, that is, about 1 in 5 of all cancer deaths). The other most commonly diagnosed cancer in men is prostate cancer (13.5 percent) and colorectal cancer (10.9 percent) for incidence, and liver cancer (10.2 percent) and stomach cancer (9.5 percent) for mortality. With 1 in 4 of all new cancer cases diagnosed in women, breast cancer is the most commonly diagnosed cancer in women (24.2 percent), the report found out. Breast cancer is also the cancer that is most common in 154 of the 185 countries surveyed. Breast cancer is also the leading cause of cancer death in women (15 percent), followed by lung cancer (13.8

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percent) and colorectal cancer (9.5 percent), which are also the third- and second-most common types of cancer, respectively. Cervical cancer ranks fourth for both incidence (6.6 percent) and mortality (7.5 percent). “Cancer remains a national health priority in the country with significant implications for individuals, families, communities and the health system,” said the Philippine Cancer Control Program of the Department of Health. In its figures released in late 2017, the Cancer Coalition Philippines said 11 new cancer cases are reported each day. Every hour, seven adults and eight children die of cancer, the coalition claims. One out of every 10 deaths in the country is caused by cancer, the Philippine Statistics Authority said. The Philippine Cancer Society Inc. (PCSI) reported that 91 percent of cancers occur between the ages of 35 and above. Three-fourths of all cancer cases in the country emerge among those between the ages 60 and above. Incidence of cancer is higher among females than males, the PCSI said. Among Filipino men, the six most common sites of cancer are lung, liver, colon/rectum, prostate, stomach and leukemia. Among Filipino women, the six most common sites

are breast, cervix, lung, colon/rectum, ovary and liver. Cancer comes from the Greek word karnikos, which means “the crab.” It is not a modern disease. Some of our apelike ancestors undoubtedly suffered from it, and so did the dinosaurs. In fact, says Dr. Robert Weinberg, a molecular biologist at the Massachusetts Institute of Technology, “it is a risk that all multicellular organisms run.” Each time a human cell divides, it must replicate its DNA, a biochemical manuscript some 3 billion characters long. In the course of transcribing

such a lengthy document, even a skilled typist could be expected to make mistakes, and cells, like typists, occasionally err. More often than not, the mistakes they make are minor and quickly repaired by proteins that serve as a miniature mechanics. Occasionally, though, cells with defects in their DNA will continue to divide, eventually forming small growths. That’s the time trouble starts. “The more cell-division cycles an organism undergoes, the more likely for it to accumulate colonies of abnormal cells, each of the offspring of

a single progenitor,” wrote Time science writer J. Madeleine Nash. “By the time humans reach middle adulthood, then their bodies contain millions of cells that have taken at least one step toward cancer.” “Cancer may be present in very many ways: as a lump, some change in body function, bleeding, anemia or weight loss—occasionally the first symptoms being from a metastasis,” explains The New American Desk Encyclopedia. “Less often tumors produce substances mimicking the action of hormones or producing remote effects, such as neuritis.” Neuritis is any disorder of the peripheral nervous system, which interferes with sensation, the nerve control of muscle or both. Like taxes and death, cancer is no respecter. It strikes anyone—rich and poor, unknown and famous. Corazon Aquino (colon cancer), Redford White (brain cancer), Francis Magalona (leukemia), Rudy Fernandez (periampullary cancer), Marilou Diaz-Abaya (breast cancer), Charlie Davao (colon cancer), Susan Fuentes (colon cancer), June Keithley (breast cancer), Mario O’Hara (leukemia), Angelo Castro Jr. (lung cancer), Mark Gil (liver cancer), Johnny Delgado (prostate cancer) and Rio Diaz (colon cancer). These were some of the famous personalities who succumbed to cancer.

Health&Fitness September 27-October 3, 2018 5

MINING THE MILLENNIAL LEADERS’ MIND: 296 CARMEN COPPER SCHOLARS GATHER FOR FIRST SCHOLARS CONGRESS

THE 296 Carmen Copper scholars set off as they took the challenge to become leaders in their respective communities.

HE energy was high as 296 Carmen Copper scholars from the 17 barangays of Toledo City gathered during the first Carmen Copper Scholars Congress on July 28, at De La Salle-Andres Soriano Memorial College in Barangay Don Andres Soriano, Toledo City. The scholars from Grade 7 through college have reason to be hopeful as they now possess the greatest weapon they need to break free from extreme poverty—quality education. The Scholars Congress aims to develop the leadership traits and practical life skills of the Carmen Copper scholars, as they face their challenges and opportunities during this critical season in their growing years. Topics tackled during the congress include the crises confronting millennials, such as the pressures of social media, digital technology, peer pressure, emotional intelligence, leadership and finding one’s identity and path. “Carmen Copper is committed to actively raising the quality of life for each of you,” said Engr. Ignacio B. Alburo, Carmen Copper assistant vice president for Safety, Health, Environment, Community Relations and External Affairs. “We want all of you to achieve your full potential and reach your dreams so you will have a brighter future.” Carmen Copper’s scholarship program is one of its efforts in providing inclusive and quality education for all, as part of its Social Development and Management Program (SDMP) commitment. To date, the company has supported 305 scholars, whose lives were changed for the better. Five of them shared how:

A ray of sunshine LEON ABELLA, a fourth-year Bachelor

6 Health&Fitness September 27-October 3, 2018

of Science in Mining Engineering student, lost both his parents when he was eight. He was then left to fend for himself. With hard work and determination, Leon found a way to go back to school at the age of 15 and graduate high school at 22. He had to work odd jobs just to make this possible. Being a Carmen Copper scholar, he said, set the path to a brighter future for him and, most especially, gave him the sense of belonging. “With hard work and strong determination, nothing is impossible. Life has been tough indeed for me, but the hard times shaped me to be the person I have become today. If I were able to overcome the challenges of the past, I cannot see a reason why I cannot handle tough times in the future.” First-year Bachelor of Science in Civil Engineering student Joan Margallo received not support, but resentment from her family when she begged them to send her to high school. “My grandparents said we are just poor and that elementary is as far as I can go just, like my mother, who gave birth to me out of wedlock at the age of 16. I cried and begged a hundred times, sought help from my friends and teachers. One of them informed me about the Carmen Copper scholarship.” She barely made it to the qualifying exam and when she passed and was admitted to the program, she brought the good news home. “I thought they

will be happy, but they remained indifferent. I was 12 years old, but for the first time I had to stand my ground and convince them that I am doing this not only for my own future, but for them as well.” At a young age, Joan already believed that education is her ticket out of poverty. She is a Carmen Copper scholar from Grade 7 until today as a civil engineering student. “I want to build roads and highways and improve access to isolated communities and pave the way for underprivileged children like me to a brighter tomorrow,” Joan said. Jonalyn Juarez, a first-year Bachelor of Science in Chemical Engineering student, may be skinny and petite, but she has the weight of her whole family’s future on her shoulders. Her father is a carpenter who almost cannot make ends meet as he had to take care of her mother suffering from a kidney disease. “I remember it was very difficult at that time. My father had to buy expensive medicines for my mother. Then I learned about Carmen Copper’s scholarship and things started to get better,” she said. A scholar since Grade 7, Joan is

now in college and aspiring to be a chemical engineer one day. Being a Carmen Copper scholar, she said, helped her develop her self-esteem, find her courage and become resilient in the face of adversities. Grade 11 student Cherry Mae Dejora is a proud daughter of farmers from Barangay Bagakay, a mountain village in Toledo City. Despite lacking in material things, she is, however, rich in familial love and support. It was her parents who taught her the value of education. “Since I was young, I always believed that as long as I can get quality education, I can go a long way in life,” she said. But with the meager income the family earns from farming, she was almost forced to leave school. “That was when my parents learned about the Carmen Copper scholarship program and urged me to apply. The scholarship was a ray of sunshine for me and I knew then I was a step closer to becoming a chemical engineer one day,” Cherry Mae said. Meanwhile, poverty forced both of Grade 11 student Alex Sander Alfante’s parents to find jobs to raise their family of six. Like in many poor families, parents often needed multiple sources of income to get by. When he was five, his mother worked as a nanny taking care of other people’s children. It was simply unfair, Alex thought. As he matures though, he realized that his parents were doing everything for their survival. “Only after much later I realized that it is hard to find better jobs if you are just an elementary or high-school graduate. I cannot blame my parents, but I promised myself that to the best of my abilities, I will break this cycle.” Alex believed that education is the great equalizer. “With my scholarship, I will work hard to become a successful educator someday and help more children from poor families get quality education. No more children should be deprived of their parents’ love and attention because of poverty.”

CARMEN Copper scholars Alex Sander Alfante (from left), Cherie Mae Dejora, Jonalyn Juarez, Jeemark Bonghanoy, Joan Margallo and Leon Abella

REAL VALUE OF COSTLY CANCER DRUGS AND TIPS ON PREVENTING CANCERS you should have a good strength training program, as well.

Get regular, good sleep.

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Reduce your exposure to environmental toxins like pesticides, household chemical cleaners, synthetic air fresheners and air pollution. Limit your exposure and provide protection for yourself from radiation produced by cell phones, towers, base stations, and WiFi stations.

Conclusion

Reduce or eliminate your processed food, sugar/fructose and grain carbohydrate intake. This applies to whole unprocessed organic grains, as well, as they tend to rapidly break down and drive your insulin and leptin levels up, which is the last thing you need to have happening if you are seeking to resolve or prevent cancer.

duces the symptoms of vitamin D toxicity, which includes inappropriate soft-tissue calcification that can lead to hardening of your arteries. If you take oral vitamin D and have cancer, it would be very prudent to monitor your vitamin D blood levels regularly.

inexpensive blood tests. Normalize your ratio of omega 3 to omega 6 fats by taking a high-quality krill oil and reducing your intake of most processed vegetable oils.

Avoid frying or charbroiling your food. Boil, poach or steam your foods instead. Have a tool to permanently reprogram the neurological shortcircuiting that can activate cancer genes. It is likely that this factor may be more important than all the other physical ones listed here, so make sure this is addressed.

Get regular exercise. One of Consider reducing your protein levels to 1 gram per kilogram of lean body weight. It would be unusual for Normalize your vitamin D levels by getting appropriate sun exposure, and consider careful supplementation when this is not possible. However, if you’re taking oral vitamin D, you also need to make sure you’re taking vitamin K2 as well, as K2 deficiency is actually what pro-

most adults to need more than 100 grams of protein and most likely close to half that.

Control your fasting insulin and leptin levels. This is the end result you’ll get when you remove sugars and grains from your diet and start to exercise regularly. Your levels can be easily monitored with the use of simple and relatively

the primary reasons exercise works is that it drives your insulin levels down. Controlling insulin levels is one of the most powerful ways to reduce your cancer risks. The trick about exercise, though, is understanding how to use it as a precise tool. This ensures you are getting enough to achieve the benefit, not too much to cause injury, and the right variety to balance your entire physical structure and maintain strength and flexibility, and aerobic and anaerobic fitness levels. If you have limited time, Peak Fitness exercises are your best bet, but ideally

Eat at least one-third of your food raw. Consider adding cancerfighting whole foods, herbs, spices and supplements to your diet, such as broccoli, curcumin and resveratrol. Source: www.bewellbuzz.com

Health&Fitness September 27-October 3, 2018 7

FERMENTATION: WHY YOU NEED FERMENTED FOODS AND HOW TO MAKE THEM

ID you know that 70 percent of your immune system is in your gut? You may be wondering what this has to do with fermented foods, and you’re about to find out why health experts in the Western world are now recommending fermented foods as a regular part of a healthy diet. Back in the day—before refrigerators—people needed to find ways to preserve foods so that they would last. They found that if they added microorganisms to the foods, the foods would last longer.

What is fermentation?

FERMENTATION is a chemical transformation of organic substances into simple compounds using microorganisms, such as molds,

8 Health&Fitness September 27-October 3, 2018

yeasts or bacteria. Fermented food is essentially more broken down or “predigested” by enzymes. Fermented foods have many benefits over raw foods. Fermentation makes the food more digestible, and so, many people find that eating fermented foods improves gastrointestinal symptoms such as indigestion, bloating, gas and cramps. In addition, fermentation adds flavor and texture to foods, many times making it

more pleasant to eat. Fermentation increases the storage life of food, cuts down on waste and replenishes beneficial intestinal microflora—otherwise known as probiotics.

What are probiotics?

PROBIOTICS are live bacteria or yeasts that are beneficial for your body—especially for your digestive system. They are often referred to as “good” bacteria. Since your body is inundated with both “good” and “bad” bacteria, it’s important to make sure that you’re getting enough good bacteria in order to keep a healthy balance. The best sources of good bacteria are fermented foods. Probiotics are incredibly beneficial to your health. Studies even show that they have anticancer benefits, specifically with

regards to colon cancer. One of the most common foods eaten with probiotics is yogurt. If the label says “Contains live and active cultures,” you’ll know that it has beneficial probiotics. The most common types of probiotics are lactobacilli and bifidobacteria as well as a yeast probiotic called Saccharomyces boulardii.

Probiotic-containing foods

THE following foods are some of the best sources of probiotics out there. Among them, you’ll find some dairy products and many different types of fermented foods. n Yogurt. Make sure to look for that label! n Kefir. This tangy drink has a

consistency that is thicker than milk and thinner than yogurt. It is an excellent source of probiotics. n Fermented soft cheeses. Gouda is one example of a fermented soft cheese that contains probiotics. n Sauerkraut. This popular Korean dish is made by fermenting white cabbage. Make sure to buy the unpasteurized kind to benefit from the probiotics. n Sour pickles. If you want to eat pickles loaded with probiotics, choose the naturally fermented kind instead of the kind pickled in vinegar. n Kimchi. Another staple Korean dish, kimchi is made by fermenting all kinds of different vegetables. n Miso. This Japanese seasoning is a thick paste made from fermented soybeans. It is often used to make miso soup or to flavor tofu or vegetables. n Tempeh. Also made from fermented soybeans, this Indonesian food is often used as a substitute in place of meat. n Kombucha. Admittedly not a fermented food, this fermented effervescent beverage is an excellent source of probiotics.

Health benefits of fermented foods

FERMENTED foods are a natural source of many nutrients, most notably probiotics, vitamin B complex and fiber. These are just some of the incredible health benefits of fermented foods: n Improve digestion. The process of fermentation breaks down the compounds in food, making it more digestible. They also increase digestive enzymes in our gut, allowing us to better absorb nutrients from the foods we eat. Experts believe that eating probiotics may even help to alleviate symptoms of lactose intolerance.

from the gut into the bloodstream. n Treat liver disease. One study showed that probiotics help to reduce parameters associated with non-alcoholic fatty liver disease, including reductions in alanine aminotransferase, aspartate aminotransferase, total cholesterol and low-density lipoprotein cholesterol. n Anti-inflammatory. Probiotics can help to reduce levels of inflammation throughout the body. This means that they can reduce symptoms of chronic inflammatory diseases, including allergies, arthritis, ulcerative colitis, inflammatory bowel disease, and many others.

to decide how you will be fermenting your food—with salt, salt and whey, or a starter culture. If you choose to ferment with a starter culture, you can easily order one online. The water you use to ferment the food should be free from contaminants for the best-tasting food possible. Choose your water source wisely for culturing. The vegetables or fruit should be packed down and submerged so that they are not exposed to any air. Depending on your preference, food can be fermented for any amount of time between one day and 20 days. Once it is finished cul-

turing, the fermented food should be moved to cold storage. Pro tip: Eat fermented foods with omega 3 fatty acid rich foods to increase their effectiveness!

Conclusion

WHETHER you decide to buy a bottle of kombucha from the store or to ferment your own foods at home, one thing is for sure: you should be adding more fermented foods to your diet. Your gut will thank you for it, and your whole body will benefit in the long run. Source: www.bewellbuzz.com

n Have anticancer benefits. Studies show that probiotics have some serious anticancer effects against gastrointestinal cancers. They detoxify the gut, neutralize carcinogens, create a healthy gut environment, produce compounds that inhibit cancer cell growth and stimulate the immune system.

Quick how-to guide for fermenting foods

THE Western world has started waking up to the numerous health benefits of eating fermented foods. Many people have even taken to fermenting at home because it’s actually quite easy. The first thing you need to do when fermenting food at home is to choose a fermenting vessel. Many people choose to ferment in mason jars. Then, you’ll prepare your vegetables or fruits for fermentation. You can make your very own pickles using cucumbers, or you can ferment anything from cabbage, beets and carrots to peaches, mangos and berries. The next step in fermentation is

n Boost immune system.We need a healthy balance of good bacteria to bad bacteria in order to thrive. Fermented foods replenish our supply of probiotics, which help to fight off bad bacteria before they get a chance to wreak havoc on our systems. Probiotics are a vital part of a strong and healthy immune system. n Increase bioavailability of nutrients. Fermentation creates new nutrients, such as B vitamins, folic acid, riboflavin, niacin, thiamine and biotin. The process also creates an increase in digestive enzymes, which help with the absorption of nutrients

Health&Fitness September 27-October 3, 2018 9

Rabies-free Rabies-free Philippines Philippines in 2030: Is it possible? possible? 2030, is

ILIPINOS love to pet anything —fish, iguanas, birds, dogs, cats and even the big and scary ones like tigers and snakes. You don’t have to go far just to affirm this fact, just look at your neighborhood or just from where you are at right now, you would see someone walking a dog or posting “Instagrammable” photos or videos of their pets. However, owning a pet or pets requires a number of responsibilities, which are often overlooked by those who take in animals in their households. Simple responsibilities like providing a safe and secure shelter, proper feeding, proper health management and of course securing the safety of the animal and the people around your pet. These are really simple but a lot of pet owners fail to do these things. As September 28 is World Rabies Day, it is just timely to talk about the current status of the Philippines when it comes to rabies control. The Department of Health (DOH) set 2030 to be the year wherein the Philippines will be rabies-free. This means we don’t have to worry about animal bites and deaths caused by rabies. This would mean all the stray dogs and cats nationwide are vaccinated with anti-rabies and/or all Filipinos have really understood the importance of pre-exposure vaccination. Rabies remains to be one of the utmost health concerns of the Philippine government, as the country belongs to the top 10 countries that have high incidence of rabies cases. Rabies is a highly fatal infectious disease that may affect all species

10 Health&Fitness September 27-October 3, 2018

of warm-blooded animals, including humans; transmitted by the bite of infected animals including dogs, cats, skunks, wolves, foxes, raccoons and bats, and caused by a neurotropic species of Lyssavirus, a member of the family Rhabdoviridae, that has tropism for the central nervous system and the salivary glands; inhalation infection possible (aerosolized virus in bat caves, attics). The symptoms are characteristics of a profound disturbance of the nervous system, excitement, aggressiveness and madness, followed by paralysis and death. In animals, clinical signs are variable, and sometimes drooling and tongue paralysis are the only signs. Transmission of the virus can occur before clinical signs are expressed. According to Dr. Nicole Perreras, Medical Specialist III, head of Animal Bite Clinic at the Research Institute for Tropical Medicine (RITM) in Alabang, Muntinlupa, the country’s rabies mortality is 300 to 600 annually and 50 percent of the recorded fatalities were children between five and 14 years old; this figure, however, had already decreased over the years. Meanwhile, records show that the number of people bitten by animals is increasing and the reason for the decrease in numbers of deaths can be attributed to several factors— improved surveillance and services,

which enabled bite cases to seek treatment at established public Animal Bite Treatment Centers (ABTC) and/or private Animal Bite Centers. The www.webbline.com listed at least 405 public and private ABTCs nationwide. The Health&Fitness recent report said, “In 2015 a total of 783,879 animal bites across the country were registered in 2015. This is 10 percent higher than in 2014, which recorded a total of 683,802 cases of animal bites. The DOH records show that from 2010 to 2016, a total of 1,713 human rabies deaths, or average of 245, every year, while a total of 245 or 65 per year children below 15 years old were recorded in the same period.” The government alone cannot solve or eradicate rabies, even if it provides everyone free rabies vaccination. Rabies-free Philippines can only be achieved if everyone will contribute to this goal. To realize the 2030 goal, the DOH together with several agencies like the Department of Education, Department of Agriculture and some private sectors

are working together to reach out to more people. The DOH has several activities to address its vision toward a rabies-free Philippines. Still, this will remain a goal unless the people who call themselves pet owners will do their part. In the province of Cavite, stray dogs and cats are everywhere despite barangay and municipal ordinances. Some of these stray dogs used to be the apple of the eye of their owners, some of them were abandoned in the streets, and some of them survived the harsh life in the streets. Because rabies is viral, it can be transmitted easily from one dog or cat to another, and even to humans. Responsible pet ownership is one of the keys that will make the programs of the government successful. Sending your pet to a clinic for rabies vaccination will help a lot in curbing the disease. Another important vaccination that pet owners can get is the pre-exposure prophylaxis (PreP), a preventative treatment before exposure to the virus. If the pet owner can also provide PreP to everyone in his/her household, rabies cases will surely be minimized. Rabies vaccines for your pets are available in all ABTCs and you can also get your PreP in these centers. In reality, the goal of the DOH to be rabies-free in 2030 can be achieved even earlier if all pet owners will be responsible for their pets and for the people surrounding their animals. Spending a few bucks now can spare you from more expenses, and the lives of other people are secured.

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TB STILL A DEADLY KILLER

By Henrylito D. Tacio

HILE fewer people fell ill and died from tuberculosis (TB) worldwide last year, such is not the case in the Philippines, according to a new report released by the World Health Organization (WHO).

The WHO’s 2018 Global TB Report said the number of TB cases in the country rose from 573,000 in 2016 to 581,000 in 2017. The report said there are still some countries that are not doing enough to end TB by 2030. “Although global efforts have averted an estimated 54 million TB deaths since 2000, TB remains the world’s deadliest infectious disease,” it said. The Philippines is among the 30 countries with the largest number of TB cases in the world. In 2016 TB killed 73 Filipinos each day. “Each person with active TB can spread the disease to 10 other Filipinos each year! This is alarming since there are between 200,000 and 600,000 Filipinos with active TB. Multiply this by 10, and just imagine how much TB is being spread yearly,” said Dr. Willie T. Ong, an internist-

cardiologist who writes a regular column for a national daily. Even if new TB cases are treated immediately, it would not still be able to stop the spread of the disease, Dr. Aamir Khan told the audience who attended this year’s annual convention—Philippines Against Tuberculosis. “People who are already infected will continue to become future TB disease cases and spread the disease further. Shrinking that reservoir of people who are infected with TB is the only way to stop the epidemic,” Khan, an epidemiologist and executive director of the Karachi-based Interactive Research and Development, was quoted as saying by the BusinessMirror in a recent news report. All over the world, despite advance knowledge in science and recent discovery of sophisticated

drug regimes, TB has continued its deadly progression. “Tuberculosis is perhaps the greatest killer of all time,” wrote Dr. Frank Ryan, author of Tuberculosis: The Greatest Story Never Told. “Tuberculosis rose slowly, silently, seeping into the homes of millions, like an ageless miasma. Once arrived, TB stayed [and became] a stealthy predator,” Ryan further wrote. The tenacious TB bacillus has preyed on people since antiquity. TB-induced skeletal deformities point to the disease's existence as early as 8000 BC. “Year after year, century after century, it tightened its relentless grip, worsening with wars and famines that reduced people’s resistance, infecting virtually everyone but inexplicably sparing some while destroying others,” wrote Ryan in his book. Ong, who coauthored the book with his wife, Dr. Liza Ong, Doctors’ Health Tips and Home Remedies, defined TB as “an infection caused by bacteria that usually affects the lungs.” These bacteria, called Mycobacterium tuberculosis, can transfer to another person through tiny droplets spread by coughing and sneezing. This is how TB attacks the lungs:

Airborne TB bacteria (bacilli) are inhaled into lungs’ small tubes. Macrophages, a kind of defensive cell, attack the particles, killing or surrounding them. Other immune cells surround particles in hard lumps called tubercles, making bacilli harmless. If the body’s immune system weakens, bacilli can escape from the tubercle. Weakened immune system can’t neutralize the bacilli. They multiply and penetrate blood vessels, spreading diseases throughout the body. In the Philippines, TB is common among the high-risk groups, such as the elderly, urban poor, smokers and those with compromised immune systems such as people living with HIV, malnutrition and diabetes. In the past, TB was considered the world’s deadliest disease. Then in 1944, 21-year-old “Patricia” with progressive, far-advanced pulmonary TB received the first injection of streptomycin. She improved dramatically during the ensuing five months and was discharged in 1947. She was evaluated in 1954 and found to be healthy and a happy mother of three children. Continued on page 12

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“This injection began the age of modern anti-TB treatment and led—until recently—to dramatic reductions in TB in industrialized countries,” the Geneva-based WHO pointed out. TB can either be latent or active. In latent TB condition, the TB bacteria have already infected the patient’s body, yet they are still in their inactive state. There are no signs and symptoms and it is not contagious. If you are diagnosed with active TB, then you must absolutely take anti-TB medicines. “There are no ifs and buts,” Ong said. “It’s for your own good and for the good of the people around you. If you don’t take the medications, then you will be infecting an average of 10 persons in a year, including your loved ones and children.” According to Ong, the treatment for TB is a bit more complicated compared to ordinary infections “since it will take approximately six months to completely eradicate the bacteria.” In cases where the infection is serious, it may take about nine months of treatment. Only a doctor can give you a correct treatment so you better see one. “Never selfmedicate,” Ong reminded. “This is the worst thing you can do. It will only strengthen the bacteria inside you and make you resistant to one tablet.” Ong suggested those who are undergoing treatment to stay at home during the first three weeks of treatment. “Don’t go to school, work or come in close contact with people,” he said. “Your saliva and phlegm can infect others.” He also recommended that they wear a facemask during the first three weeks of treatment. “Cover your mouth with a tissue when you cough, sneeze or laugh too hard,” Ong urged. “Then throw the tissue away in a sealed container.” As a sort of reminder, all TB medications must be taken one hour before meals. “It is ideal not to break the dose of the drug,” Ong reminded. The patient needs to see his doctor to undergo blood tests to check

for possible liver side effects of the drugs taken. Side effects aren’t common but some TB medicines can occasionally be harmful to the liver, he said. In addition, the color of the urine will change from yellow to orange. But don’t worry; the change in color is “a normal reaction to the treatment course.” Ong suggested that you need to consult your doctor once you experience any of the following: nausea, vomiting, loss of appetite, yellowing of the skin, or fever for more than three days. The most important thing: “Complete the six- to nine-month course of your medicines,” Ong declared. “Do not stop your medicines without your doctor’s permission. Doing so will cause the TB bacteria to mutate and come back in a stronger and more virulent form.” In 2011 the WHO regional office reported that about 10,600 Filipinos have multidrug-resistant TB (MDRTB). By 2015 MDT-TB cases went up to 15,000. Health experts said, “Treatment outcomes for MDR-TB are typically worse than those for patients with drug-sensitive TB, in significant part due to the length of treatment and the potential for adverse effects from second-line medications.” Although TB cases in the Philippines are currently going down, there are still much to be done. “Many factors still need to be addressed, such as reducing the stigma of TB patients, and increasing the public’s awareness of the disease, especially the need for treatment,” Ong pointed out. “Some infected TB patients still refuse treatment and continue to pose a danger to people around them.”

HEALTHY FINDS

n DS ANTIAGING SYSTEM

AGING is a process that almost every person fears. Changes in the skin inevitably happen as years pass. Gravity causes skin to droop downward due to its continuous pull on our bodies and facial skin. Also, exposure to UV light or Ultraviolet radiation, breaks down our skin’s connective tissue which speeds the natural aging process and becomes the primary cause of early wrinkling. For better knowledge of aging skin, we have to watch out for the following signs: dryness, lines and wrinkles, thinning of the skin, sagging skin and appearance of age spots. Knowing all these signs, we can somehow delay the process of aging by taking special care of our skin. There are eight ways to reduce premature skin aging: n Eat a healthy and well-balanced diet n Protect your skin from the sun n Drink less alcohol n Exercise often n Good skin care n Plenty of sleep n Avoid high amounts of stress n Avoid smoking Let it also be known that collagen plays an important role in maintaining a youthful skin. These are normally present in abundance together with elastin when we are young, but start to diminish as we reach the age of 35. Collagen and elastin becomes disconnected resulting in the sagging of skin. “Diana Stalder’s Anti-Aging Kit [collagen soap,

n PHILHEALTH DECLARES CONTINUOUS POSITIVE CASH FLOWS IN THE FIRST HALF OF 2018

THE state social health insurance provider sustained positive trends in its cash flow and registered a whopping P7.41 billion in net income at the end of this year’s first semester; a reflection of its resolve to protect and sustain the National Health Insurance Program (NHIP) fund. Innovative enhancements on premium collection methods proved vital to strengthening the financial condition of the government-run corporation, which went under public scrutiny in the past months. The Philippine Health Insurance Corp. (PhilHealth) posted P59.79 billionin premium collections from January to June 2018. The figure dwarfed last year’s collection for the same period by P4.56 billion. A huge part of the premiums came from the private and public sectors that amounted to P22.24 billionand P6.67 billion, respectively. In terms of benefit expenses, the PhilHealth paid P52.92 billion in claims as of June 2018

dual action toner, skin revitalizer, bb cream] is specially formulated to reduce the signs of aging, it keeps the skin hydrated to maintain its suppleness and delay wrinkle formation.”

DAY: Gently wash the face with collagen soap. Rinse well and pat dry with a soft towel. Apply dual action toner sparingly all over the

face with cotton wool using uniform upward strokes. Apply ample amount of bb cream as makeup foundation before going outdoors. Night: Gently wash the face with collagen soap. Rinse well and pat dry with a soft towel. Apply dual action toner sparingly all over the face with cotton wool using uniform upward strokes. Apply a thin coat of skin revitalizer all over the face and leave it overnight.

with 27 percent of the total amount used to pay for the medical care of the senior citizens and Lifetime Members. They topped the list of members that utilized the comprehensive set of benefits offered by the government-run corporation. Sponsored and indigent members came in second on benefit grants with P13.19 billionin claims. This was a clear manifestation of quintessential PhilHealth care for the vulnerable elderly and the economically challenged Filipinos. On the other hand, total assets were listed as P172.34 billion, which received a P3.89 billion boost attributed to an 11 percent investment growth. The PhilHealth capitalizes in interestbearing bonds and deposits, and government securities, among others, that yield an annual income based on prevailing rates of interest. Increase in total liabilities was notable only because of the corporation’s benefit claims payable of P44.96 billion due to the recording of actuarially computed incurred but not received (IBNR) payables and accruals for the Primary Care Benefit (PCB) package. Acting President and CEO Roy B. Ferrer was

optimistic about the PhilHealth’s resurgence and said that, “The infusion of fresh income ultimately dispels any notion of the PhilHealth’s financial troubles,” he also added that, “We have been through tough times and it is with capable leadership and management that we have been able to rise from the ashes of alleged bankruptcy and became sound and stable institution that looks after the welfare of the Filipinos; especially the poor and the marginalized.” Ferrer had been constantly hounded on the issue of alleged negative cash flow of the PhilHealth that was previously reported as P4.7 billion to which he replied, “We have already paid a huge amount of claim reimbursements incurred in 2017. In fact, we are continuing to review our last year’s financial position and as early as now I am confident that it will produce a positive data; not a loss.” The PhilHealth assured the public that it will continue performing its mandate to the highest of moral standards and will maintain an unrivaled transparency that would become the benchmark of true and exceptional health-care service.

HOW TO APPLY:

Health&Fitness September 27-October 3, 2018 13

BULLETIN BOARD

Las Casas revisits past through biopic film Goyo: Ang Batang Heneral LAS Casas Filipinas de Acuzar held a special media screening of Filipino historical film Goyo: Ang Batang Heneral last September 19 at the Movie Theater of Victoria Sports, Edsa. Some of the movie’s pivotal scenes were shot at Las Casas heritage resort featuring Hotel de Oriente, Casa Jaen and Casa Lubao, among others. This action-filled biopic headlined by Paulo Avelino is the second installment to the 2015 hit film Heneral Luna. At the heart of Bagac, Bataan, Las Casas Filipinas de Acuzar is the only Philippine destination that showcases the best of Filipino heritage and culture through the colorful stories as retold by Jose Acuzar’s collection of restored Spanish-Filipino houses. Masterfully crafted by local artisans from Bagac, Bataan, Paete, Laguna and nearby provinces, Las Casas highlights the outstanding beauty of being a Filipino. From the majestic architectural design to heartwarming revival of traditions, Las Casas is a complete package to a one-of-a-kind travel to the past. All these unique initiatives of Jose Acuzar in line with his mission to bring Filipino heritage

to greater heights has caught the attention of the international scene by being the only Philippine property to be a part of the Condé Nast Johansens Luxury Global Collection and Peninsula Hotel’s Pencities Luxe Guide.

This heritage resort is also the Asia Awards of Excellence winner for Asia’s most excellent destination for 2017 and is a project of the New San Jose Builders Inc. in consultancy with Asian Grand Legacy Hotels.

EASTWOOD CAFÉ+BAR’S CHEF’S SPECIALS FEATURE GLOBAL DISHES WITH LOCAL FLAIR

SWEET SEPTEMBER AT CAFÉ PRONTO CAFÉ Pronto is gearing up for a sweeter and more indulgent season with its current selection of comforting and satisfying goodies. Marvel in delightful natural ice-cream flavors, such as chocolate, strawberry, and vanilla and top them off with treats of your choice—sprinkles, marshmallows or nuts—in either cup or crunchy waffle cone. One’s sweet tooth is also spoiled to satisfaction with sweet thick milkshakes with munchies on the top. Sour candies, gummy bears, s’mores—go crazy with these creamy drinks. Revel in sweet treats with the wonderful addition of nutty treats. For the love of nuts, Florentines, Maple Pecan Pie, Almond Cream Bun and Hazelnut Dragee are baked to your heart’s desire. To learn more about the hotel, visit www.marcopolohotels. com. Follow the Hotel in Facebook at facebook.com/MarcoPoloOrtigasManila or @MarcoPoloManila on Twitter or Instagram.

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PRESENTING not only great value but also satisfying, innovative and delicious food items, the Chef’s Specials of Eastwood Richmonde Hotel’s Eastwood Café+Bar are back this month. The theme is “Mundial [or global] Cuisine” which, according to Executive Chef Vic Barangan, combines local and international cooking styles and ingredients to create original gourmet masterpieces. The Chef’ Specials is a collection of delectable entrées that are served with free bread, salad, soup and dessert for a complete and filling meal you can enjoy any time of the day. For this period, the main dishes consist of US short ribs braised in Mr. Apo coffee (P995net); Abra organic chicken a la kiev with salted egg butter (P995net); parrotfish fillet with tamarind, cilantro, jicama and Zambales mangoes (P895net); and Australian lamb shank cooked adobar-style with garlic and hollandaise (P985net). Completing the mouth-watering meal are the complimentary tasty preludes of artisan bread with flavored butter and tomato jam; compressed watermelon salad with basil, olives, goat’s cheese, rocket leaves and radish; and Tortellini Royale soup made of consommé with adlai, tortellini of chicken and mushroom dexelles. The “Dessert Mélange” which also comes free with each entrée order, offers an assortment of treats that include pistachio bark, spiced walnuts, cured egg yolk, basil oil, coral sponge cake, cream cheese and vanilla ice cream.

CHEF Vic Barangan

The Mundial Cuisine is available from September to November 2018. For inquiries and table reservations, please call Eastwood Café+Bar at (632) 570-7777. Eastwood Café+Bar is at the ground floor of Eastwood Richmonde Hotel, 17 Orchard Road, Eastwood City, Bagumbayan Quezon City. For more information, you may send an e-mail to erh@richmondehotel.com.ph or log on to www. eastwoodrichmondehotel.com.ph.

BULLETIN BOARD

Santé kicks off the Annual Business Conference 2018

Savor only the freshest at Kitsho THIS October Kitsho celebrates its second year of proffering the best Japanese fare in the Metro. From succulent sushi and sashimi, to yakimono and hot pot, ramen and bento boxes, the options are wide and varied—and all mouthwatering! The secret to the supreme taste of Japanese food is in the freshness of its ingredients. You take that away and everything falls apart. That’s why professional Japanese chefs go to the market daily to procure fresh catch and farm produce. Because they know that sourcing of the freshest ingredients is paramount to their craft. And at Kitsho, Executive chef Mizumoto Masahiro makes sure that diners only get to taste the best concoctions made from the freshest ingredients. Every sashimi slice, every sushi roll, or the crunch of an ebi tempura, even the sealed-in juiciness of a grilled salmon all attest to the fresh-

ness of the proffered seafood. The lean meats, especially the beef cuts, all spell tenderness that can only come from the most select sources. And farm produce, delectable in its crunch and crispiness, only shows how it came to your table straight from the farms. For this anniversary month of October, the buffet spread will be done away with and, in its stead, diners get to enjoy all their favorites by ordering them à la carte. Every four diners enjoying their à la carte dishes get to enjoy a 15-percent discount from off their tab, while any group of five diners gets to bring in another one for free. Lunch à la carte (buffet) is at P1,232 (VAT inclusive) while dinner per cover is at P1,400 (VAT inclusive). For reservations, simply dial the restaurant’s trunkline through Tel. nos. (02) 994-36-23 or (02) 795-8888 local 2332.

DIAMOND DEALS IN THE CITY DISCOVER impeccable service and delicious dishes at Makati Diamond Residences with the latest Diamond Deals offer, giving you the chance to experience affordable luxury for your next event. Start with a Composition Salad Bar that is tossed on the spot in a Parmigiano Reggiano Wheel, incorporating a prominent cheese flavor into your custom creation. Pair this nicely with a warm bowl of Crab and Corn Soup. Fill your hearts delight with a taste of the main dishes, including Miso Glazed Salmon Fillet topped with a sweet and savory Soya Sauce, or flavorful spicefilled dishes like the Beef Masala and the Chicken Tandoori. End on a sweet note with a Mango Torte or Supermoist Chocolate Cake. Choose from five other Asian and Continental buffet menu options, complemented with one round of soda or Diamond Iced Tea, and coffee and tea to cap

off your meal. The package includes use of the function space for four hours, floral centerpieces for all tables, and standard lights and sounds. Diamond Deals offers a lunch or dinner buffet for 30 persons starting at P51,000 net, with a P1,700 additional net rate per person. The booking period is from now until September 30, 2018, while events may be schedule until October 31, 2018. For inquiries and reservations, e-mail events@makatidiamond.com

SANTÉ recently held its Annual Business Conference (ABC) 2018, entitled “The Big Shift: Building a Future-Proof Business” on August 30 at the Bayanihan Center, Pioneer Avenue in Pasig City. It was attended by more than 500 leaders and entrepreneurs. “We are happy to hold the Annual Business Conference with speakers who get to share their expertise and experience to people who have the same interest in the business. This event marks our commitment to building a strong foundation for our business owners so they can grow with us,” said Joey Marcelo, CEO of Santé. One of the prominent speakers present in the event is Jayson Lo, a best-selling author and entrepreneur, who talked about culture. He shared his experience with companies and how he helps them better understand the culture they belong in. Chinkee Tan, a wealth coach, author, TV and radio personality, also gave insights on being an influencer. The keynote speaker during ABC is internationally acclaimed best-selling author and world-renowned trainer in direct selling, Tom Schreiter, who talked about leadership. Other presenters during the conference include Randell Tiongson, finance coach, best-selling author and column writer; Eugene Sugian, digital marketing whiz kid; Alexine Sy, radio DJ and social-media influencer; and Dodong Cacanando, motivational and business leadership speaker. They delved on the topic of finance, digital marketing, personal branding, and entrepreneurial, respectively. “Education is a lifetime process. The things we know in the past may not be applicable today. As a progressive company, we want to make it a point to continously enhance the skill levels of our business owners,” said Marcelo. “Our objective for them is to compete globally. That is why we continue to search for new trends in the industry that are applicable to our business.” Santé’s Annual Business Conference started in 2015 and has since then been a highly anticipated event among Santé entrepreneurs. ABC is part of Santé’s Engage training series. To know more about Santé International and their exciting natural products, visit their web site at https://main.santebarley.

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