BusinessMirror September 30, 2019

‘BACK-TO-BACK CUTS ON RIGHT TRACK’

BUILDINGS tower above Ayala Avenue in Makati’s central business district in this September 2019 photo. Economists said over the weekend the latest policy rate cut and the slashing of the banks’ reserve requirement ratio (RRR) by 100 basis points will be positive for financial markets as inflation secures its tamer path for the year. Forecasts are also showing the BSP has more room to resume its cuts next year. NONIE G. REYES

By Bianca Cuaresma @BcuaresmaBM

T

HE Bangko Sentral ng Pilipinas’s (BSP) latest easing measures will be good for financial markets, including the unexpected cut in the banks’ reserve requirement ratio (RRR), several economists said.

The deceleration in inflation provided space for the BSP to ease its monetary policy stance via back-to-back movements during the week. On Thursday, at the sixth monetary policy meeting for the year, BSP Governor Benjamin Diokno cut monetary policy rates by 25 basis points on account of easing inflationary pressures and ailing growth numbers. The move was widely

expected by markets.

On Friday, however, Diokno let out again another move—this time by cutting the banks’ RRR anew by 100 basis points.

This unexpected move effectively frees up approximately P90 billion of liquidity in the local financial system.

While the move to cut RRR came as a surprise, economists said Diokno’s timing and decision on this will be good for the markets.

“We think this latest RRR cut should be generally positive for the financial system and to the economy in general, as greater amounts of funds and loans will be made available to consumers and businesses,” Security Bank economist Robert Dan Roces said.

‘Timely’ “With inflation projected to be around 1 percent for September [Security Bank’s estimate] and the past two consecutive quarters reporting sub-6 percent growth, the cut is timely and will help mitigate growth risks for the rest of 2019,”he added.

“With the inflation objective well in hand, cutting both the reverse repurchase rate and reserve requirement ratio was deemed possible. Also, given that the move was well telegraphed and viewed by the market as in line with what is needed given sluggish lending, the policy adjustments will be welcomed by the financial system,” ING Bank Manila economist Nicholas Mapa said.

See “Right track,” A2

Rotary Club Of Manila Journalism Awards

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year

2018 ejap journalism awards

business news source of the year DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

www.businessmirror.com.ph

A broader look at today’s business n

Monday, September 30, 2019 Vol. 14 No. 355

Govt talking to other ODA sources–DOF

T

By Cai U. Ordinario

@caiordinario

P25.00 nationwide | 5 sections 28 pages | 7 days a week

DBM releases P4-B RCEF balance

By Bernadette D. Nicolas

A

@BNicolasBM

FTER months of debates with the Department of Agriculture (DA), the Department of Budget and Management (DBM) has finally settled its dues to farmers with the release of the remaining P4 billion of the P10-billion Rice Competitiveness Enhancement Fund (RCEF).

Acting Budget Secretary Wendel Avisado confirmed to the BusinessMirror that

the funds were already released last week through two separate Special Allotment Release Orders (Saros).

“Yes , it has already been released,” Avisado said in a text message.

Based on DBM’s records, a September 23 Saro amounting to P1.005 billion was released last Tuesday, September 24 to the Philippine Rice Research Institute “to cover the funding requirement for the implementation of the Rice Competitiveness See “RCEF,” A12

he Department of Finance (DOF) said negotiating with other development partners will help augment the support for projects affected by the President’s decision to suspend talks with 18 countries.

However, Finance Secretary Carlos G. Dominguez III did not identify the potential donor-countries that could fill in the gap, as the DOF’s talks with them are still in the preliminary phase.

“We are currently in exploratory talks with our other bilateral partners on how they can assist the Philippine government in funding the grants that were previously under negotiation but were suspended on orders of the President, pending the review by the Department of Foreign

₧3.058B Combined value of two loans from two ODA sources among the 18 countries: P1.19 billion, or the €21-million loan from France for the Bus Rapid Transit (BRT) project; and P1.868 billion ($36 million) in climate-change funding initially supposed to come from Germany.

Affairs [DFA] of our country’s relations with countries that had voted for or sponsored the UNHRC [UN Human Rights Council] resolution,” Dominguez said.

These new ODA sources will finance, among others, the Metro Manila Bus Rapid Transit (BRT) and climate change-related studies.

The DOF said the BRT project initially would have been financed by a €21-million loan, equivalent to about P1.19 billion, See “ODA,” A2

DICT eyes regulating P36-B freight industry

T

HE Department of Information and Communications Technology (DICT) has urged Congress to pass a law regulating freight and courier services in the country, which has now grown to P36 billion.

During a recent hearing at the House of Representatives, DICT Secretary Gregorio Honasan said Congress should pass a law regulating or institutionalizing freight activities in order to protect customers.

“The issue here, they are not only transporting goods but people, so we want regulatory intervention through legislation first. Then after that, for faster and effective [solutions], we need executive action,” Honasan said.

See “DICT,” A2

PESO exchange rates n

Construction crews rush work on a building in Pasay City on Sunday, September 29, 2019. The government has anchored its economic growth strategy on the ramp-up of infrastructure projects, and insists that a decision to suspend negotiations for loans and grants with 18 countries that voted for the Iceland resolution will not derail the projects. It is in talks with new official development assistance (ODA) sources. ROY DOMINGO

US 52.1700 n japan 0.4839 n UK 64.2943 n HK 6.6561 n CHINA 7.3160 n singapore 37.7524 n australia 35.2043 n EU 56.9853 n SAUDI arabia 13.9083 Source: BSP (27 September 2019 )

News

BusinessMirror

A2 Monday, September 30, 2019

House panel eyes additional 3% tax on mining industry

T

By Jovee Marie N. dela Cruz

@joveemarie

HE House Committee on Ways and Means is drafting a bill imposing an additional 3-percent tax on the mining industry, a leader of the lower chamber said on Sunday.

Albay Rep. Joey Sarte Salceda of Albay said the bill will ensure that the government and the people get their fair and rightful share in the profits from mining operations in the country.

This bill is listed among the priority measure of the Duterte administration and the House of

Representatives. “I am proposing to increase by 1 percent or from 4 percent to 5 percent the excise tax on mining,” Salceda said.

Currently, Salceda said mining operations are taxed 4 percent.

Salceda said the proposal will also include the creation of sovereign wealth fund, which will

come from a 2-percent tax that will be imposed on the mining industry.

“In essence, [we’ll have an] additional 3 percent [excise tax for mining industry],” said Salceda.

According to Salceda, the future generation must benefit from depletable resources or non-repeated resources of the nation.

The 18th Congress envisions the bill as setting up the updated fiscal regime for the mining industry.

House Ways and Means Senior Vice Chair man Estrellita Suansing, who was also the principal author of the bill during the 17th Congress, stressed the need to create a rationalized and single fiscal regime applicable to all mineral agreements to promote fairness.

“This aims to level the playing field, so to speak, considering that

under the current taxation setup, only mining contractors inside the mineral reservations pay the royalty tax,” said Suansing.

Suansing said the bill proposes an equitable imposition of royalty on mining operations within and outside mineral reservations, whether small or large scale.

The present law requires payment of royalty fees only in mining sites declared as mineral reservations.

The bill seeks to reduce the royalty rate of 5 percent to 3 percent for mining contractors within a mineral reservation.

Also, Rep. Johnny Ty Pimentel of Surigao del Sur has requested the Department of Finance and the ways and means committee to consider the position of the mining sector, as they significantly contribute to the economy of the Philippines.

Accident of airport ramp controller probed

By Recto Mercene

@rectomercene

T

HE ramp control chief at the Ninoy Aquino International Airport, who has been butting heads with airport police in a bid to lift a ban on his staff’s use of the elevator to get to their sixth floor office, got a surprise as probers checked out what happened to one ramp controller who got injured after being forced to take the stairs and cross the dimly lit roof deck: one prober said they didn’t realize the ramp controllers had an office up there.

The chief of the Airport Police Department (APD) at the weekend sent a group to investigate the complaint of ramp air traffic controllers that they have been forced to use the stairs to gain access to their sixth floor office, after one of the workers was injured last Thursday night.

Rona Sorreda tripped on a piece of protruding electric wire on the airport roof deck when she reported for work for the third shift last Thursday night.

“Sir, we didn’t realize that you have an office here,” one of the six policemen from the Airport Security Inspectorate Office (ASIO) told ramp control chief Alger Ramo.

The six policemen were catching their breath after walking through the same stairs that the technical

ODA. . .

Continued from A1

from France while climate-change funding in the order of $36 million or P1.868 billion was initially supposed to be financed by Germany.

DOF said it has already found a substitute for the €21 millionloan, while the DOF is now looking for a replacement to finance the Germany-funded program.

Dominguez said the assessment will be done by the Department of Foreign Affairs (DFA).

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

Moreover, Dominguez said the loan terms offered by the affected countries, if there are any, are no better than the rates offered by MDFIs and the other bilateral partners.

Dominguez has already directed Undersecretary Mark Dennis Joven, who heads the DOF’s International Finance Group, to review affected projects and find ways of financing these by other bilateral partners that did not support the resolution adopted by the UNHRC. The resolution sought a comprehensive written report on the Philippines’s human-rights situation in relation to its tough war on illicit drugs and narco-trafficking.

Argentina, Australia, Austria,

employees have been using the past many months.

They questioned Ramo about the Sorreda incident and said they will file a report for the consumption of their superior.

The ASIO members said they will hold a meeting to determine whether or not to allow use of the airport elevators for the controllers, as they have done for decades before the ban was issued months ago.

At 9 a.m. on Sunday, another five members of the APD went up the control cab to interview Ramo.

Last Thursday night, airport medical staff rushed to the ramp control cab to treat Sorreda, who sustained wounds in both hands, arms and kneecap.

She told doctors she had to protect herself from hitting the concrete floor, using both arms to shield her face. However, both arms were badly scraped in the process, and both her kneecaps suffered the most punishment. Her left knee is still swollen from the injuries.

Sorreda spent the next two days in her office, unable to walk. She finally went home last Sunday.

The police took photographs of her injuries.

Ramo said that on orders of the APD, the 14 employees, who work in shifts as ramp controllers, were denied use of the elevators during the last few months, allegedly for security reasons.

Bahamas, Bulgaria, Croatia, Czech Republic, Denmark, Fiji, Iceland, Italy, Mexico, Peru, Slovakia, Spain, Ukraine, the United Kingdom of Great Britain and Northern Ireland, and Uruguay all voted in the affirmative to adopt the resolution of the 47-member UNHRC. Manila has called the 18 affirmatives among 47 members as basically a minority vote.

France, Germany and Sweden were among the UNHRC nonmembers that backed the resolution. At least 14 others voted in the negative while 14 abstained.

Me a nw h i le, D om i n g ue z made it clear that the Palace order, sig ned by Executive Secretary Salvador Medialdea, only directed the concerned agencies to “suspend negotiations for and signing of, all loan and grant agreements with the governments of the countries that cosponsored and/or voted in favor of the aforesaid resolution, pending the assessment of our relations with these countries.”

Foreign Affairs Secretary Teodoro Locsin Jr. had earlier made the same clarification after news reports cast the Medialdea memo as a “rejection” of foreign assistance.

The ongoing grants on record with the affected countries amount to $197.03 million, including $172.4 million with Australia; $4.8 million, Italy; $1.11 million, Spain; $9.74 million, France; and $8.98 million, Germany.

The airport roof deck is where many antennae are located, including crisscrossing wires and cables. These have always posed a danger to the employees, who must negotiate the roof deck in all kinds of adverse weather, conditions.

Sometimes, the roof deck gets flooded during thunderstorms as the water spouts cannot handle the volume of rainwater, Ramo said.

The ramp control cab, surrounded by glass windows, was constructed in the late 1980s. It consists of three-floors of newly added infrastructure to the existing roof deck.

From the cab, the workers have a 360-degree view of the surrounding areas.

Before that, ramp controllers were located in a windowless room on the fifth floor. They had a view of the tarmac and parked airplanes via closed-circuit television (CCTV).

The ramp control employees became necessary following the increase in volume of air traffic at the premier gateway. They provide taxi information, and direct arriving planes where to park and to avoid other planes taxiing for departures,Ramo told BusinessMirror.

It is the ramp controllers who advise pilots when to start their engines and when to push back from their parking berths, directing them to what runway to use.

DOF. . .

Continued from A12

In the same statement of the DOF, Beltran said they are not against incentives and are not trying to remove Peza. “We are simply trying to fix a longbroken system,”Beltran said.“Director General Plaza said they are ready for war, but we would at least expect them to be armed with correct information,” Beltran said, adding that the statements made by the investment promotion agency (IPA) have been “largely erroneous and misleading.”

“When the government grants incentives, we want to do so for the right reasons—such as for job creation, investment in less-developed areas, and investment in infrastructure,” he added.

Story in numbers

Earlier this month, the Philippine Statistics

Right track. . .

Continued from A1

Expect more cuts from the BSP

With two more meetings left for the BSP’s monetary policy this year, economists believe the Central Bank will pause its monetary policy movement for 2019 and resume cutting its rates by 2020.

Fitch Solutions, in a recent research note, said the BSP will likely keep its dovish stance over the coming quarters, due to softer domestic demand pressures and external demand headwinds. The research firm also said there is a high chance the BSP will ease further as it focuses on growth and sees scope from investor accommodation to further easing.

“For now we believe the BSP will take a ‘wait and see’ approach through its last two meetings in 2019. While inflationary pressures have abated due to a combination of strong base effects, lower inflation expectations and

Authority (PSA) reported that foreign investment pledges in the second quarter amounted to P49.58 billion, up 60.2 percent from P30.95 billion a year ago. The report also said that on a year-on-year comparison between the first half of 2019 and last year, pledges were up 112 percent.

However, data from the Bangko Sentral ng Pilipinas (BSP)—which shows the actual foreign direct investments (FDI) that already pushed through with their plans and entered the Philippine market—tell a different story.

The BSP reported a continued decline in FDI to the country in June this year as net equity placements and debt instruments decreased during the month.

FDI posted a net inflow of $430 million in June 2019, or 48.5 percent lower than the $836-million net inflows recorded in the same month last year.

This is the fourth consecutive month that the monthly FDI inflows have been in decline. a softening of domestic activity, the BSP has acknowledged a likely rebound in price pressures through 2020 and this suggests that they will remain on hold for the remainder of 2019 in our opinion,” Fitch Solutions said.

“We hold on to our view the BSP will cut once again in 2020, primarily because we believe external headwinds will not abate, and as such the BSP will feel it necessary to reduce rates further,” it added.

JP Morgan, meanwhile, sees one more cut for this year as fading price pressures amid growth concerns open room for more easing.

“Amid ongoing growth concerns and weaker inflation momentum, we continue to look for further monetary easing at the December 12 monetary board meeting, bringing the policy rate to 3.75 percent by end-2019,” the international bank said in a recent research note.

For the months ahead, the BSP still has two monetary policy meetings scheduled, one on November 14 and one on December 12.

www.businessmirror.com.ph

‘Valid, constitutional’ budget will be sent to Senate, says House THE House of Representatives has assured the public the proposed P4.1-trillion General Appropriations Act that will be transmitted to the Senate on October 1 is valid, legal and constitutional.

According to Deputy Speaker Neptali Gonzales II, the creation of a small committee to process individual amendments even after the passage of the national budget on third and final reading is allowed.

Earlier, Sen. Panfilo Lacson called out lawmakers to the creation of a small committee to insert amendments of lawmakers despite the third and final reading approval of the budget bill last September 20 at the House.

Gonzales said the small committee is there to accept and reject the individual amendments for inclusion to the printed copy of the national budget.

The plenary, Gonzales said, has the power to create and task the small committee as condition despite the budget approval to process some adjustments it deemed necessary.

“The small panel helps us not to go to the rigors of individual amendments of every congressman. It is not only valid, legal and constitutional, it is also practical and judicious to safeguard the national programs by regulating parochial concerns,” Gonzales said.

“The budget deliberation is a class of its own, it is a continuing process and the Constitution does not tell us how to approve the bills on first, second and third

DTI. . .

Continued from A12

“This should bode well for our ‘Build, Build, Build’ so that infrastructure projects can catch up, and that’s one reason we are seeking a longer transition,” Lopez said.

He is also asking senators to consider setting a threshold as to what project proposals should be reviewed by the investment promotion agencies (IPAs) only, and what should be assessed and approved by the Fiscal Incentives Regulatory Board. The FIRB, to be institutionalized under the Citira bill, is tasked to review and approve all projects seeking to obtain incentives from the government.

“On the structure, the big-ticket projects should be approved by the FIRB. However, those projects that fall below the threshold value should be approved by the responsible IPA. FIRB can serve as oversight and can do the reevaluation, and perhaps the vetoing, if it likes,” Lopez explained.

“However, it should be made clear that for high-value projects, the IPAs will only be recommendatory and the FIRB will approve. If

DICT. . .

Continued from A1

The DICT’s attention was called to address the proliferation of illegal and unlicensed foreign couriers that are affecting the income of the legitimate freight companies.

It was Buhay party-list Rep. Lito Atienza who disclosed the growing problem in the industry that is putting the Filipino consumers and their cargo at risk, not to mention the unpaid taxes.

Honasan clarified that the agency’s concern is the fast and reliable connectivity or internet in the country which is being utilized by these freight and courier companies.

He is urging Congress to also strengthen cyber security to ensure more protection for legitimate users.

“We need a new law to institutionalize this,” he added.

readings. We adopt our own rules to make it responsive and outputoriented. Imagine if you allow 300 lawmakers to introduce amendments in the plenary, do you think we can still approve the national budget? They will also introduce more parochial concerns because we have constituents to serve,” he said.

House Committee on Appropriations Vice Chairman Joey Sarte Salceda said it was the plenary decision of the House of Representatives to create a small committee for institutional and individual amendments to the 2020 General Appropriations Bill (GAB).

“If we are to refresh the public’s memory, this is not the first time that the creation of small committee was resorted to. This is for facility and for practical purposes. Not all 299 Members of the House of Representatives can sit down together and finalize all the amendments to the bill,” he said.

Salceda said delegating to a small committee some of the duties that the plenary could otherwise perform is a practice done since the Eight Congress, when the House deliberates on the GAB. Salceda also asked to the Senate to observe “interparliamentary courtesy and allow us to do our work first.”

“Their turn to scrutinize the budget bill will come when we formally transmit to them the printed copy of the 2020 GAB on October 1,” added Salceda.

Jovee Marie N. Dela Cruz the project is part of the government’s strategic investment priorities plan, then we already know where to place it,” he added.

Lopez said the threshold is still being determined by the Board of Investments, but noted he is looking at between $1 billion and $3 billion as the trigger mark.

With these proposed changes in hand, Lopez believes the Citira bill can be passed within the year. He said the Department of Finance’s openness to reforms in the transition and adjustment periods will be crucial in making the measure acceptable to industry groups.

Locators, mostly multinationals, strongly oppose the Citira bill, and said its passage will result in capital flight and, consequently, job losses.

Estimates by the American Chamber of Commerce of the Philippines put job losses at about 700,000 once the Citira bill is passed into law.

Economic zone firms said they cannot afford to lose their tax perks, as this helps them manage operating costs here inflated mostly by power and logistics.

The measure is now being deliberated by senators after it hurdled the House of Representatives over two weeks ago.

Earlier, Atienza sought an in-depth investigation on the foreign syndicates because their effect on local legitimate courier and forwarding companies that pay the right taxes to the government.

Atienza also said there are instances that these couriers are being used illegally.

He said some of these services were found to be violating 60-40 constitutional limits on foreign ownership.

The lawmaker said since they operate as a public service or convenience, logistics companies are supposed to be covered by the 60-40 ownership rule.

Based on reports, the industry is now worth some P36 billion.

Following the reported “colorum” courier services being operated by foreign companies, the House of Representatives and the DICT earlier both agreed to regulate the couriers and freight forwarding services in the country.

Jovee Marie N. Dela Cruz

A4 Monday, September 30, 2019

News

BusinessMirror

www.businessmirror.com.ph

BARMM chief minister assures exiting personnel of lump-sum separation pay

By Manuel T. Cayon Mindanao Bureau Chief

D

AVAO CITY—Employees of the now defunct Autonomous Region in Muslim Mindanao (ARMM) are assured of a continuing smooth transition to the new Bangsamoro government, their separation pay fully subscribed to and would be available in lump sum later this year.

Chief Minister Al Hajj Murad Ebrahim said the Bangsamoro government said the new government “continues to carefully implement the transition plan, particularly the difficult part of phasing out the employees of the defunct ARMM.” “As I have mentioned before, it’s our commitment to give and work out what is best for the affected employees within the ambit of the Bangsamoro Organic law and the transition plan,” Ebrahim said during his Chief Minister’s

Hour address before the Bangsamoro Transition Authority (BTA) on September 27.

“The cabinet will closely look into the issues pertaining to the implementation of the gradual phasing out and engage with pertinent national agencies, such as the DBM [Department of Budget and Management] in order to achieve solutions favorable to our affected employees,” he added.

According to Ebrahim, BARMM officials earlier last week “conducted another round of orientation to update and operationalize the result of the meeting with DBM pertaining to the separation incentives.”

He added that they were able “to get most of what our employees desire as they mentioned in the previous consultations which we conducted last month.”

“Employees are assured that there are available funds for the separation incentives and that they will be able

to get this in lump sum starting later this year,” the chief minister said.

Ebrahim would encourage the ARMM employees to apply in the BARMM “as we phase-in people based on merit and fitness in the new government.” He said persons with integrity, skills, and passion to serve the Bangsamoro have a place in the bureaucracy.

Public service

ENDING his speech, Ebrahim called on his colleagues in the Parliament and all the officials of the Bangsamoro government to “put the people at the heart of our actions. Let us enact those passed resolutions that not only protect the interest of the Bangsamoro people but also have direct contribution to their betterment.”

“Some of us might have plans for our prospective political careers come 2022 and beyond.

Some will move mountains and execute carefully planned strategies to achieve whatever political ambitions they might have,” Ebrahim said. “This is understandable and quite frankly expected. But let us not be blinded by power and greed.”

“It is my earnest hope that we remain united as one BTA, for the sake of our people.

It is where our sovereignty emanates and after all governance and public service are not about us. It is all about the people,

it is always about the people,” the chief minister said.

Meanwhile, the initial draft of the first Bangsamoro Regional Development Plan would be presented to the different local government units in the BARMM next month for consultation, the Bangsamoro Planning and Development Authority (BPDA) said.

Mohajirin Ali, BPDA acting executive director, said the BRDP would be the road map for the Bangsamoro autonomous regional government for 2020 to 2022.

He said specific dates had been set for consultation in each of the BARMM member provinces, cities, and the 63 barangays in North Cotabato.

The plan would be presented to the regional cabinet for its adoption after the provincial consultations. It would also be presented to the BTA for approval and eventually to the Bangsamoro Economic and Development Council (BEDC), the highest policy-making body in the BARMM. The BEDC replace the Regional Economic and Development Planning Board (REDPB) of the defunct ARMM. It would be the regional counterpart of the National Economic and Development Authority (Neda).

Article 13, Section 4 of Republic Act 11054 or the Bangsamoro Organic Law, provides that the “Parliament shall establish the Bangsamoro Economic and Development Council, which shall serve as the planning, monitoring, and coordinating agency for all development plans, programs and projects of the Bangsamoro Government.”

Ali said a draft of a proposed bill creating the BEDC has been endorsed by his office to the BTA.

DENR distributes land titles to 555 families in Region 2

T

HE Department of Environment and Natural Resources (DENR) has recently distributed land titles to a total of 555 beneficiaries in Region 2.

The 524 land titles were distributed in separate occasions in the different provinces. A total of 31 patents were awarded earlier this year.

To recall, on August 1, Environment Secretary Roy A. Cimatu ordered all DENR Regional Offices and the Land Management Bureau to distribute land titles in September. Cimatu emphasized the the activity shall be conducted in partnership with local government units (LGUs).

In Nueva Vizcaya, 346 free patents were distributed. For the provinces of Isabela and Quirino, a total of 80 and 43 titles were awarded, respectively. While the island province of Batanes distributed 55 land titles.

Cagayan Valley DENR Regional Executive Director Antonio A. Abawag said the Department will continue the partnership with the local government units to facilitate the processing of land titles.

“We commit to strengthen the DENR-LGU partnership in providing secure property rights for every landowner,” Abawag was quoted in a statement as saying.

The DENR aims to expedite the processing and issuance of public land patents to qualified individuals. It seeks to achieve security of tenure for poverty alleviation and economic development.

Through the land titles, revenue collection in the form of real-property taxes increases thereby providing inclusive economic growth.

Under the Residential Free Patent Act or RA 10023, any Filipino citizen who has continuously possessed and occupied land, either by himself or through his predecessor in interest for at least 10 years may qualify as a beneficiary.

The law provides for the judicial disposition of untitled public alienable and disposable lands through the more efficient and less costly free patent process. Jonathan L. Mayuga

Group lauds DENR for rejecting ECC vs Bacoor reclamation project

By Jonathan L. Mayuga @jonlmayuga

T

HE Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) welcomed on Sunday the move of the Department of Environment and Natural Resources (DENR) to set aside a 944-hectare landreclamation project in Bacoor City.

“We warmly welcome the positive stand of the DENR not to issue an ECC [environmental compliance certificate] to the 944-hectare Bacoor reclamation project. The pronouncement was a welcome development not only for the fisherfolk and poor families whose livelihood and communities are under threat, but also to the ecosystem of our historic natural harbor and the mussel (tahong) industry of Bacoor because it will be spared from the destructive impacts of reclamation,” Fernando Hicap, Pamalakaya national chairman, said in a statement.

Pamalakaya said the project will displace 700 fishing and coastal families in Bacoor, Cavite, on top of the expected adverse environmental impact of such destructive development activity.

The land-reclamation in Bacoor will result in massive flooding in Bacoor and cities in Metro Manila, particularly Las Piñas and Parañaque City.

T he DENR’s decision not to issue an ECC for the ambitious land-reclamation project came about after Sen. Cynthia A. Villar grilled officials of the DENR during a budget hearing last week.

Villar expressed her stiff opposition to the project, which

will be near the Las PiñasParañaque Critical Habitat and Ecotourism Area, a Ramsar site or a wetland of international importance, under the Ramsar Convention of the United Nations Educational, Scientific and Cultural Organization because of its potential adverse environmental impact­— including massive flooding that will directly affect Las Piñas City.

Pamalakaya reminded the Bacoor City officials of the Supreme Court mandamus to rehabilitate Manila Bay, on which the local governments are supposed to be cooperating with the Bureau of Fisheries and Aquatic Resources (BFAR) in restoring marine life and developing the fisheries and aquatic resources.

“We urge Bacoor Mayor Lani Mercado-Revilla to comply with the DENR’s decision accordingly; drop everything that has something to do with the dumping and filling of Manila Bay and its transformation into commercial and business hub. Instead, support the livelihood of thousands of tahong growers in a form of subsidy and aid, and be part of the ongoing campaign to restore and rehabilitate the Manila Bay,” Hicap said.

“Reclamation is against the wisdom of the [the Supreme Court] decision,” according to the former Anakpawis Party-list Representative.

Reclamation projects are issues of concern as pointed out by the operational plan for the Manila Bay Coastal Strategy being implemented by the DENR, as they transform the shoreline of Manila Bay and displace fisherfolk communities.

Recto seeks restoring P15.9-B annual budget for hospital equipment funds

By Butch Fernandez

S

@butchfBM

ENATE President Pro Tempore Ralph G. Recto is moving to restore the P15.9billion annual allocation for the government’s Health Facilities Enhancement Program (HFEP) that was slashed to only P5.9 billion, crippling efforts to address lack of facilities providing public health care.

Recto rued the “prescription” provided by the Department of Budget and Management (DBM) for the vital health program.

“How much was the prescription of the DBM for HFEP for year 2020? P5.9 billion.

Two-thirds [was slashed]. It is the budgetary equivalent of cutting the calorie intake of a malnourished child.”

Recto recalled that the usual reason given for the deep cut is the failure of the DOH to spend its funds on time.

“But some agencies have worse fund utilization rates than the DOH yet have not been punished with a budget cut,” the Senator lamented, The Senate President Protempore added: “The same bogey—procurement—is being used again. But the projects in the HFEP menu are not hard to procure.”

Recto remembered that in previous years, HFEP funds were for “sunk-in-theground projects, like buildings, and were bugged by delays. But for next year, the ‘spending theme’ is equipment, some of which are off-the-shelf items which can be easily purchased.”

But the lawmaker said these are not “Build, Build, Build” items that are worth billions of pesos.

Recto noted that a cursory look at the health program will show these are not huge multi-million allocations for the barangaybased health stations.

He noted that in the first page of the HFEP list of projects in the 2020 national budget, it would jump out the retail amount of P150,000 worth of equipment being given to 43 Barangay Health Stations in Abra, Apayao and Benguet.

“But some agencies have worse fund utilization rates than the DOH yet have not been punished with a budget cut.”—Recto

In fact, Recto said, the list will show there were barangay health stations that were only given P27,000 allocations.

The Senator added that the entire HFEP budget for all LGU-run hospitals add up to P657 million, noting that “in this category are many frontline hospitals, which will receive a measly P500,000 each for new equipment.”

According to Recto, even large hospitals directly operated by the DOH will “receive a pittance,” like the East Avenue Medical Center in Quezon City, earmarked P75 million in HFEP money. At this level of funding, he added, the usual “absorptive capacity” excuse cannot be invoked.

Even doubling the amount will not make procurement work twice as hard, he said, adding to avoid hitches, the DOH “can download funds to local governments based on a menu.”

“And if the latter will offer counterpart financing, then there will be more funds to buy more equipment.”

The Senator suggests that government should budget based on what the people need.

It cannot be reduced to a spreadsheet exercise, lifted from a foreign-funded budgeting manual, he said.

“Puno ang mga ospital natin ngayon, mahaba ang pila, kulang ang kagamitan, salat sa gamot. At yan ay hindi nakikita sa anumang accounting ledger.

[Our hospitals are filled to the brim, queues are long, equipment are lacking and there’s deficiency in medicines; which are not seen in any accounting ledger.]”

Agriculture/Commodities

www.businessmirror.com.ph

BusinessMirror

Dar wants stronger measures as fisheries keeps mild growth

A

GRICULTURE Secretary William Dar on Friday underscored the need for stronger measures on the conservation and management of the fisheries sector.

“Now that the DA is more emphatic on fully implementing laws and making fisheries management more efficient and effective, we recognize the need to strengthen enforcement agencies and equip their people with the necessary skills to effectively implement the law,” Dar said in his speech at the Fisheries Summit at a shopping center in Pasay City.

One of the measures is the continuous implementation of the “closed fishing season” to give time for fish species, such as sardines, herrings, and mackerels to spawn and increase their population.

“We must preserve our treasured marine resources for sustainability as they impact on waters outside the EEZ [exclusive economic zone], such as the Coral Triangle,” he said.

Dar also stressed the need to strengthen marine park management systems by adopting “smart technologies” and work closely with local governments, civil society, academe, fisherfolk and people’s organizations—in partnership with the Department of Environment and Natural Resources (DENR)-Biodiversity Management Bureau.

“An even more urgent concern is the immediate mapping and planning for developing and managing

Resources Director Eduardo B. Gongona said the Fisheries Summit is part of the government’s efforts to sustain the positive gains achieved by the fisheries sector in terms of production in the past year.

“We are 92 percent sufficient in fisheries Agriculture Secretary William Dar underscores the need for stronger and we have an assurmeasures on fisheries conservation and management, during the ance of stable supply of fish,” he said. opening of the two-day Fisheries Summit held at a mall in Pasay Data from the PhilipCity on September 27, 2019. PNA pine Statistics Authority revealed that the fisheries sector the Philippine Rise, particularly the has recovered from a 10-year trend shallowest portion called the ‘Benof decreasing production. ham Bank,’ which is almost 100 perIn 2016 to 2017, fisheries produccent covered with corals—in tandem tion increased, although still placed with the DENR-Namria [National at -6 percent and -1 percent, respecMapping and Resource Informatively, in terms of growth rate. tion Authority], Philippine Navy, In 2018, fisheries production rose the Philippine Coast Guard and the to a positive level of growth at +1.04 UP [University of the Philippines] percent. This positive level of proMarine Science Institute,” he said. duction growth continues this year, The DA chief also proposed a bigwhen the fisheries sector posted a ger budget for the establishment of 0.97-percent increase in the first more fisheries management areas. quarter and 1.90-percent increase To date, 263 fishing grounds have in the second quarter. been declared fisheries management “With the dawn of the new paraareas to address overfishing, illegal digms, the agriculture-fisheries secfishing, habitat destruction, pollutor gets a competitive advantage, tion and climate change through giving us the assurance that our science-based conservation and farmers and fisherfolk will benefit participatory management. from their improved productivity,” Meanwhile, DA Undersecretary Gongona said. PNA and Bureau of Fisheries and Aquatic

Editor: Jennifer A. Ng • Monday, September 30, 2019 A5

Palay prices sank to 7-yr low in 1st wk of Sept–PSA data

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

HE average farm-gate price of dry unhusked rice sank to more than seven-year low in the first week of September, according to latest data released by the Philippine Statistics Authority (PSA).

Preliminary figures released by the PSA showed that average palay prices plunged 29.52 percent to P16.28 per kilogram, from the P23.10 per kg recorded in the same period of last year. The latest average dry palay quotation is the lowest since the first week of April 2013, when dry palay farm-gate price averaged P16.27 per kg.

University of Asia and the Pacific Center for Food and Agribusiness Executive Director Rolando T. Dy earlier told the BusinessMirror that the “market is oversupplied by imported inventory.”

On a weekly basis, latest average farm-gate price was 2.40 percent lower than the P16.68 per kg recorded in the last week of August, PSA data showed.

During the reference period of September 4 to 10, the lowest farmgate price was recorded in Iloilo province at P12.50 per kg, while the highest quotation was in Abra at P21 per kg, PSA data showed.

With the increase in imports and the upcoming harvest starting October, the farm-gate price of palay will continue to go down, according to various farmers groups and nongovernment organizations.

Rice prices down, too

BOTH the wholesale and retail prices of well-milled rice (WMR) and regular-milled rice (RMR) continued to decline on an annual and weekly bases.

The average wholesale quotation of WMR fell by 16.23 percent

to P38.61 per kg, from P46.10 per kg last year, PSA data showed. The latest figure was slightly lower than the P38.77 per kg recorded in the previous week.

This now the lowest average wholesale price of WMR since the third week of May 2017, when the variety posted a quotation of P38.61 per kg.

Likewise, its average retail counterpart fell by 13.84 percent to P42.26 per kg, from P49.05 per kg last year, PSA data showed.

This is now the lowest average retail price of WMR in more than one-and-a-half year since fourth week of December 2017’s P42.24 per kg average quotation.

The average wholesale price of RMR declined by 20.72 percent to P34.40 per kg, from P43.39 per kg last year, PSA data showed. The latest figure is the lowest since fifth week of December 2017, when average wholesale price of RMR was at P34.35 per kg.

During the reference period, the average retail price of RMR fell to more than two-year low of P37.83 per kg, historical PSA data showed.

The latest figure was 17.49 percent lower than last year’s P45.85 per kg, and is the lowest since first week of July 2017’s P37.76 per kg.

A4 Monday, September 30, 2019 • Editor: Angel R. Calso A6

The World BusinessMirror

Wall Street reacts as US threat to limit investments in China dents markets

F

INANCIAL markets suffered another trade-related blow on a report that the Trump administration may move to limit US investment in China, a move certain to raise tensions.

The S&P 500 turned lower after Bloomberg reported that officials are discussing ways to restrict portfolio flows into the world’s secondlargest economy. The index bounced around after the headlines before extending declines and closing 0.5 percent lower on Friday.

Chinese firms traded in the United States came under pressure as investors assessed a move that would have repercussions for billions of dollars in investment pegged to major indexes.

Here’s what investors are saying: Jennifer Ellison, principal at SanFrancisco based BOS: “This is not little stuff. This is huge. The cost of tariffs

on the economy, the impact on growth around the world when you don’t have trade flowing, the potential impact of China getting really mad and looking at us and saying ‘You know those Treasury bonds you’re issuing? We don’t want so much of that anymore,’” she said. “There’s a lot more potential downside than there is upside when this is all resolved.”

Ed Moya, senior market analyst at Oanda: “Just like we saw in the previous lead-up to high-level talks in the past, the White House is trying to increase their negotiating chip count with a fresh threat that could cripple Chinese companies,” he said. “The limitation of Ameri-

can pension funds access to Chinese markets would see massive portfolio swings that spells disaster for the tech sector. This threat is harsh reminder that we could very easily see trade talks fall apart next month.”

Ed Al-Hussainy, a strategist at Columbia Threadneedle: “This one is a nonstarter. Even this administration will have a hard time making the case for capital controls at this scale. Just another market burp.”

Alan Ruskin, chief international strategist at Deutsche Bank AG: “This policy risks reciprocity from China, where China is of course a much bigger player in US portfolio markets, than the US is in China. In general, headlines like this also suggest that US-China relations remain extremely tense, so not a great sign on the state of the trade negotiations. These headlines help assets that do well in ‘risk-off’ like gold, Swissie and yen. The euro, likely, also benefits in part as China could in theory search for alternative liquid markets,” he said. “One important caveat to above is we need to see if these are just loose headlines with US capital flows used as a bargaining

chip, or whether the threat is real.”

Zach Pandl, cohead of global FX and emerging-market strategy at Goldman Sachs Group Inc.: “The news opens up a new front in the US-China trade conflict. Looks likely to weigh on the yuan and neighboring currencies, and support safe havens, especially the yen.”

Mike Collins, senior portfolio manager at PGIM Fixed Income: “It’s another example of how every time people think this trade war is de-escalating, it escalates again,” he said. “We’re in this for the long run.

There’s no end in sight.”

Sebastian Janker, the head of the chief investment office for DB Wealth Management Americas: “The lack of details for implementation could signal that this is another negotiating tactic for the White House to use in the upcoming trade talks. It’s hard to imagine exactly how such a policy could be enacted without hurting existing investors,” he said. “Investors should monitor the price action in US-listed Chinese companies as proxies for measuring the propensity of enacting this potential new regulation.” Bloomberg News

Trump paints impeachment probe as attack on voters, guns, health care

D

ONALD J. TRUMP mounted a defense to Democrats’ impeachment investigation on Saturday by saying the opposi-

tion party is trying to oust him because he’s fighting for the voters who elected him, and that the future of the country is at stake.

Trump’s approach signals a new effort to rally his political base to counter the growing threat to his presidency.

Trump argued Democrats are undertaking “the single greatest scam in the history of American politics” and portrayed the investigation as part of a campaign by the opposition party to take away everything from guns to health care.

“It’s all very simple, they’re trying to stop me because I’m fighting for you—and I’ll never let that happen,” Trump said in a video he tweeted to his 65 million Twitter followers, in which he appears outside the White House.

Trump is seeking to rally his most ardent supporters after a week of damaging headlines, including revelations that the president asked Ukraine’s leader to investigate top Democratic Presidential Candidate Joe Biden during a July phone call.

Trump also continued to defend his conversation with Ukrainian President Volodymyr Zelenskiy as having been appropriate. The US president said the fact the Zelenskiy—speaking to reporters during a meeting with Trump this week at the United Nations—said he didn’t feel pressure to investigate Biden “should by and of itself bring an end to the new and most recent Witch Hunt.”

Trump’s call was Zelenskiy was summarized in a partial transcript released on Wednesday.

Democrats have said that the mere fact Trump suggested investigating a top political rival to a foreign leader raised grave concerns, as did the president’s request for Zelenskiy to look into Ukraine’s role in the 2016 US election. Bloomberg News

www.businessmirror.com.ph

‘No-deal Brexit could leave UK with medical shortages’

L

ONDON—Britain’s government watchdog says there’s still a “significant amount” of work to do to make sure the country has an adequate supply of licensed drugs in case of a “nodeal” Brexit.

In a report issued Friday, Britain’s National Audit Office said additional shipping capacity chartered by the United Kingdom for sending goods across the English Channel might not be operational until the end of November—one month after the October 31, deadline for Britain to leave the European Union. Of the more than 12,300 medicines licensed in the UK, about 7,000 arrive from or via the EU, mostly across the Channel.

Meg Hillier, who chairs a committee overseeing the audit office, called the findings “deeply concerning.” She said she had seen “countless examples” of the British government missing deadlines, but that this one was particularly striking.

“If the government gets this wrong, it could have the gravest of consequences,” she said.

Alan Boyd of the Academy of Medical Royal Colleges said people with epilepsy were a particular concern in the event of any drug shortages, noting that “one seizure can have a life-changing impact.”

According to the British government’s reasonable worst-case scenario, the flow of goods could be cut by half on day one of a nodeal Brexit and could take a year to recover. It said time was “extremely limited” if the shipping issues were to be resolved by the end of October.

Dr. David Nicholl, a neurologist who helped draft the UK’s no - dea l Bre x it pl anning and went public with his concerns this month, said he felt vindicated by the audit office report. He said during his work consulting for the government, there were fears about adequate supplies for treatments for conditions including epilepsy, Parkinson’s disease, diabetes and certain cancers including leukemia.

“It’s incredibly troubling and reckless,” he said. “I don’t think there’s any evidence that we’re in any better situation than we were before.”

Nicholl said British politicians were still refusing to honestly acknowledge the harm that would be caused to patients in Britain by a nodeal exit. He predicted there would be a spike in illness and deaths if Britain does leave Europe without a divorce deal.

In early September, Nicholl publicly raised the issue of drug shortages on a London radio show when he pointedly asked Jacob Rees-Mogg, the leader of the House of Commons, what level of excess deaths he would be willing to accept in a no-deal Brexit. Mogg dismissed Nicholl’s warnings and later compared him to the disgraced

researcher Andrew Wakefield, who published a now-discredited paper linking a childhood vaccine to autism. Mogg later apologized for the comparison.

Nicholl said he was so disillusioned with the lack of action to address his concerns that he has decided to enter politics; he will stand as a candidate for the Liberal Democrats in a district currently held by Sajid Javid, the Conservative chancellor.

“I do not believe for one minute that anyone who voted to leave in 2016 voted to harm themselves and other people, and yet, that is where we’re heading,” he said. “We need some people in Parliament with a brain who are willing to negotiate with other people.”

Britain’s department of health said it has taken measures to prepare for a no-deal departure, including ordering six weeks of extra medicine stocks and securing specialist courier services to deliver products with a short shelf life.

But not everyone was convinced by the moves.

“One thing is clear about a no-deal Brexit and that is that no amount of preparation can fully eradicate the risks it presents to patient safety,” said Donal O’Donoghue of the Royal College of Physicians. “It is impossible for me and my colleagues to reassure patients that their health and care won’t be negatively impacted by the UK leaving the EU without a deal.”

Steve Bates, CEO of UK’ s BioIndustry Association, said that unlike the last Brexit deadline— March 31—the government has given companies much less information about alternative routes in case a no-deal Brexit results in jammed ports.

“Last time, we knew which ferry services had been commissioned on alternative routes with pharmaceutical companies encouraged to book space to ship their products,” he told reporters last week. “But the same approach has not been adopted this time.”

The audit report released Friday also said there was “incomplete information” about the levels of medicine stockpiling but that levels were increasingly daily.

As of September 20, suppliers reported that 72 percent of medicines had a six-week stockpile.

Boyd said drug shortages already happen every month even without Brexit and the department of health typically issues a list of affected medicines and in some cases, suggests possible alternatives. He said the group was also concerned that a no-deal Brexit would mean that Britain would be kicked out of a Europewide program to identify counterfeit medicines.

“The department of health will put its own system in place, but that will likely take a few years before it’s up and running,” he said. AP

Elon Musk unveils SpaceX rocket designed to get to Mars and back

B

OCA CHICA VILLAGE, Texas—Elon Musk has unveiled a SpaceX spacecraft designed to carry a crew and cargo to the moon, Mars or anywhere else in the solar system and land back on Earth perpendicularly.

In a livestreamed speech from SpaceX’s launch facility near the southern tip of Texas, Musk said Saturday that the space venture’s Starship is expected to take off for the first time in about one or two months and reach 65,000 feet (19,800 meters) before landing back on Earth.

He says it’s essential for the viability of space travel to be able to reuse spacecraft and that it’s important to take steps to extend consciousness beyond our planet.

A crowd watched as Musk spoke from a stage in front of the large spacecraft, which has a reflective, metal exterior.

Musk says Saturday marked the 11th anniversary of a SpaceX rocket reaching orbit for the first time. AP

IN this image made from video provided by SpaceX, Elon Musk speaks of SpaceX’s newly designed aircraft at its launch facility near Brownsville, Texas, on Saturday, September 28, 2019.

Musk unveiled the SpaceX spacecraft designed to carry a crew and cargo to the moon, Mars or anywhere else in the solar system and land back on Earth perpendicularly. SPACEX VIA AP

www.businessmirror.com.ph

The World BusinessMirror

Monday, September 30, 2019 A7

Pro-China supporters in HK Vietnam foreign minister warns rally ahead of anniversary of escalation in South China Sea NILATERAL actions risk H escalating tensions in the South ONG KONG—Hundreds of pro-Beijing supporters in Hong Kong on Sunday sang the Chinese national anthem and waved red flags ahead of China’s National Day to counter pro-democracy protests that have challenged Beijing’s rule.

The show of support for Beijing came after another day of violence in the semiautonomous Chinese territory that sparked fears of more ugly scenes that could embarrass Chinese President Xi Jinping as his ruling Communist Party marks its 70th year in power on Tuesday. Pro-democracy advocates have called for a major rally to coincide with the celebrations in Beijing.

Police on Saturday fired tear gas and water cannons after protesters threw bricks and firebombs at government buildings following a massive rally in downtown Hong Kong. The clashes were part of a familiar cycle since protests began in June over a now-shelved extradition bill and have since snowballed into an anti-China movement with demands for democratic reforms.

Protesters are planning to march on Tuesday despite a police ban. Many said they will wear mourning black in a direct challenge to the authority of the Communist Party, with posters calling for October 1 to be marked as “A Day of Grief.”

Later Sunday, protesters also plan to gather for an “anti-totalitarianism” rally against what they denounced as “Chinese tyranny.” Similar events are being organized in over 60 cities worldwide, including in the US, UK, Australia and Taiwan.

Hong Kong’s government has already scaled down National Day celebrations in the city, canceling an annual firework display and moving a reception indoor.

Despite security concerns, the government said Sunday that Chief Executive Carrie Lam will lead a delegation of over 240 people to Beijing on Monday to participate in the festivities. She will be represented by Chief Secretary Matthew Cheung in her absence and return to the city on Tuesday evening.

Lam held her first community dialogue with the public on Thursday in a bid to defuse tensions but failed to persuade protesters, who vowed to press on until their demands including direct elections for the city’s leader and police accountability are met.

Several hundred people, many wearing red and carrying Chinese flags and posters, gathered at a waterfront cultural center in the city

Yemen rebels say they’ve captured many Saudi Arabia soldiers in attack

Y

EMEN’S Houthi rebels said they captured many Saudi soldiers and officers in a large operation near the border between the two countries on Saturday, shortly after the kingdom agreed to a limited ceasefire with the Iranian-backed group.

If true, the escalation will likely deal a blow to efforts to end a war that’s killed thousands and triggered one of the world’s worst humanitarian disasters. Saudi Arabia mobilized a military coalition in 2015 to back Yemen’s internationally-recognized government against the Shiite rebels.

The Houthis, in a statement carried by the Saba news agency, said they destroyed three enemy brigades after “just 72 hours of the operation.”

Thousands of people have been taken prisoners, including “many Saudi commanders, officers and soldiers.” A spokesman for the Saudi-led coalition fighting in Yemen didn’t immediately return a request for comment.

The announcement comes almost two weeks after the Houthis took credit for the devastating attack on key Saudi Aramco oil facilities that briefly halved the country’s output and rattled global markets this month. The United States and Saudi Arabia blamed Iran for the attack, which they said wasn’t launched from Yemen.

Yahya Saree, a spokesman for the Houthicontrolled forces, said those captured would be paraded on the group’s TV network on Sunday, the BBC reported.

Last week, the Houthis announced a unilateral halt to the hundreds of drone and missile attacks that have targeted Opec’s largest producer in recent years. An official with the Saudi-backed Yemeni government said Friday that the kingdom has agreed to a ceasefire in several areas of Yemen, including the capital Sana’a.

Saudi Arabia views the conflict with the Houthis as a proxy war with Iran. Bloomberg News

on Sunday and chanted “I am a citizen of China.” They sang the national anthem and happy birthday to China.

They were later bused to the Victoria Peak hilltop for the same repertoire.

Organizer Innes Tang said the crowd, all Hong Kong citizens, responded to his invitation on social media to “promote positivity and patriotism.” He said they wanted to rally behind Chinese sovereignty and urged protesters to replace violence with dialogue.

“We want to take this time for the people to express our love for our country China. We want to show the international community that there is another voice to Hong Kong” apart from the protests, he said.

Mobs of pro-Beijing supporters have appeared in malls and on the streets in recent weeks to counter pro-democracy protesters, leading to brawls between the rival camps.

Many people view the extradition bill, that would have sent criminal suspects to mainland China for trial, as a glaring example of the erosion of Hong Kong’s autonomy under the “one country, two systems” policy when the former British colony returned to Chinese rule in 1997.

China has denied chipping away at Hong Kong’s freedom and accused the US and other foreign powers of fomenting the unrest to weaken its dominance.

In Beijing on Sunday, former Hong Kong leader Tung Chee-hwa was recognized for devoting himself to the implementation of the “one country, two systems” policy.

Tung, the first leader after Hong Kong’s return to China, was among 42 people who received national medals and honors from Xi for their contributions to the country. AP

U

China Sea, Vietnamese Foreign Minister Pham Binh Minh said at the United Nations General Assembly, comments aimed at China that avoided mentioning China directly.

“Vietnam has on many occasions voiced its concerns over the recent complicated developments in the South China Sea, including serious incidents that infringed upon Vietnam’s sovereignty,” Pham said on Saturday during the General Debate in New York.

“Relevant states should exercise restraint and refrain from conducting unilateral acts, which might complicate or escalate tensions at sea, and settle disputes by peaceful means,” Pham said.

Vietnam, which shares a long border with its fellow Communist country, stands virtually alone in the region as it pushes back against Beijing amid

territorial disputes in the South China Sea, a region containing unexploited hydrocarbons that the US says could be worth $2.5 trillion.

China is increasing pressure on Vietnam by repeatedly sending coast guard ships and a survey vessel to an energy block operated by Russia’s Rosneft Oil PJSC near its shores. In 2018, state-owned Vietnam Oil & Gas Group ordered Spain’s Repsol SA to halt work on a project off Vietnam’s southern coast, costing the company and its partners as much as $200 million.

Vietnam has pushed back against the actions of China, whose so-called nine-dash line encompasses some 80

percent of the South China Sea, more than any other Southeast Asian country. China is nearing a deal with the Philippines for joint energy exploration in a contested area of the sea and just set up one-on-one talks with Malaysia to settle disputes in the waters.

The US has accused China of intimidating other claimants from developing resources in the South China Sea, and is conducting regular freedom of navigation operations near land features claimed by China in the region.

Chinese authorities in turn have said the US is trying to drive a wedge between it and other countries, and said other non-regional nations are “hyping up the tensions.”

“The South China Sea has important implications for countries inside and outside the region in terms of economy, security, safety, freedom of aviation and navigation,” Vietnamese Ministry of Foreign Affairs Spokesman Le Thi Thu Hang said in a statement on September 1. “Vietnam welcomes and is willing to join other nations and the international community” to maintain peace, stability and security in the region, she said.

Bloomberg News

Green Monday BusinessMirror

A8 Monday, September 30, 2019

New climate report

Oceans rising faster, ice melting more

N

EW YORK—Climate change is making the world’s oceans warm, rise, lose oxygen and get more acidic at an ever-faster pace, while melting even more ice and snow, a grim international science assessment concludes.

But that’s nothing compared to what Wednesday’s special United Nations-affiliated oceans and ice report says is coming if global warming doesn’t slowdown: 3 feet of sea rise by the end of the century, much fewer fish, weakening ocean currents, even less snow and ice, stronger and wetter hurricanes, and nastier El Niños.

“The oceans and the icy parts of the world are in big trouble and that means we’re all in big trouble, too,” said one of the report’s lead authors, Michael Oppenheimer, professor of geosciences and international affairs at Princeton Universit y. “ T he changes are accelerating.”

These changes will not just hurt the 71 percent of the world covered in oceans or the 10 percent covered in ice and snow, but it will harm people, plants, animals, food, societies, infrastructure and the global economy, according to t he specia l repor t by t he Intergover n ment a l Pa ne l on Climate Change (IPCC).

The oceans absorb more than 90 percent of the excess heat from carbon pollution in the air, as well as much of the carbon dioxide itself.

The seas warm more slowly than the air but trap the heat longer with bigger side effects—and the report links these waters with Earth’s snow and ice, called the cryosphere, because their futures are interconnected. “ T he w or l d ’s o c e a n s a nd cr yosphere have been tak ing the heat for climate change for decades. The consequences for nature and humanity are sweeping and severe,” said Ko Barrett, vice chairman of the IPCC and a deputy assistant administrator for

research at the US National Oceanic and Atmospheric Administration.

The report found the following: n Sea s a re now r ising at one-seventh of an inch (3.66 millimeters) a year, which is 2.5 times faster than the rate from 1900 to 1990. n The world ’s oceans have already lost 1 percent to 3 percent of the oxygen in their upper levels since 1970 and will lose more as warming continues. n From 2006 to 2015 the ice melting from Greenland, Antarctica and the world’s mountain glaciers has accelerated and is now losing 720 billion tons (653 billion metric tons) of ice a year. n Arctic June snow cover has shrunk more than half since 1967, down nearly 1 million square miles (2.5 million square kilometers). n Arctic sea ice in September, the annual minimum, is down almost 13 percent per decade since 1979.

This year’s low tied for the se cond lowest on re cord . I f c a r b o n p o l l ut i o n c o nt i nu e s unabated, by the end of the century there will be a 10 percent to 35 percent chance each year that sea ice will disappear in the Arctic in September. n Marine animals are likely to decrease 15 percent, and catches by fisheries in general are expected to decline 21 percent to 24 percent by the end of century because of climate change.

And for the first time, the international team of scientists is projecting that “some island nations are likely to become uninhabitable due to climaterelated ocean and cr yosphere change.”

The IPCC increased its projected

Gentoo penguins stand on rocks near the Chilean station Bernardo O’Higgins, Antarctica, in this January 22, 2015, photo. Airbnb is offering a handful of tourists concerned about the environment a chance to help participate in scientific research on how to help preserve it with an all-expense paid trip to Antarctica. The Antarctic Sabbatical, as the travel company is dubbing it, will give five people the opportunity to study how widely microplastics have infiltrated the region. AP/Natacha Pisarenko

end-of-century sea level rise in the worst-case scenario by nearly 4 inches (10 centimeters) from its 2013 projections because of increased recent melt of ice sheets in Greenland and Antarctica.

The new report projects that, u nder t he bu si ness -a s -u su a l scenario for carbon emissions, seas by the end of the century will rise between 2 feet (61 cm) and 43 inches (110 cm) with a most likely amount of 33 inches (84 cm). This is slightly less than the traditional 1 meter (39 inches) that scientists often use.

“Sea level continues to rise at an increasing rate,” the report said. “Extreme sea level events that are historically rare [once per century in the recent past] are projected to occur frequently [at least once per year] at many locations by 2050.”

And sea level will rise two to three times as much over the centuries to come if warming continues, so the world is looking at a “future that certainly looks completely different than what we currently have,” said report coauthor Hans-Otto Portner, a German climate scientist.

The Nobel Prize-winning IPCC required nations meeting last week in Monaco to unanimously

approve the report, and because of that the group’s reports tend to show less sea-level rise and smaller h a r ms t h a n ot her sc ient i f ic studies, outside experts said.

“Like many of the past reports this one is conservative in the projections, especially in how much ice can be lost in Greenland and Antarctica,” said National Aeronautics and Space Ad ministrat ion [Nasa] oceanographer Josh Willis, who studies Greenland ice melt at length and wasn’t part of the report. “We’re not done revising our sea-level rise projections and we won’t be for a while.”

Willis said people should be prepared for sea rise to be twice these IPCC projections.

The oceans have become slightly more acidic, but that will accelerate with warming. In the worst-case scenario, the world is looking at a “95-percent increase in total acidity of the oceans,” said study coauthor Nathan Bindoff of the University of Tasmania.

Even if war ming is limited to just another couple of tenths of a degree, the world ’s wa r m water cora l reefs w i l l go extinct in some places and be d ra m at ic a l ly d i f ferent i n others, the repor t said.

U

n Microsoft plans to make 825,000 Xbox

Visitors play Fifa 18 video game on Playstation 4 Pro (PS4) at the Paris Games Week in Paris in this November 3, 2017, photo. AP/Kamil Zihnioglu

UN Environment Program and showcased against the backdrop of last week’s UN climate summit.

With an estimate of more than 2 billion video game players globally, “this is the most powerful mobilization channel in the world,” David Paul, the Marshall Islands’ environment minister, told the gaming CEOs. His low-lying Pacific island homeland faces an existential threat from rising seas as the planet warms.

The “Playing for the Planet” pledges come from an industry that isn’t always seen as nurturing societal good.

Parents and psychologists have fretted for years about games and other digital diversions sucking youths into staring at screens. The

MWF bags Asia’s Community Care Company of the Year award

T

rue to its mission in serving marginalized communities through water, sanitation and hygiene (WASH), Manila Water Foundation (MWF), the social development arm of the Manila Water enterprise, bagged the Asia’s Community Care Company of the Year award, the top award for its category, at the Asia Corporate Excellence and Sustainability (Aces) Awards 2019.

“We are very grateful on the commendation as the Asia’s Community Care Company of the Year. As our Chairman Fernando Zobel de Ayala articulated, Manila Water is not a business to run, but a mission to fulfill. Winning this prestigious award certainly underscores our commitment to continue bringing WASH for all communities,” said MWF Executive Director Reginald Andal.

The Aces Awards recognized MWF for its Integrated WASH Program—developed to provide access to clean and potable water to rural, marginalized communities, as well as improving their sanitation and hygiene practices—and its flagship programs, which was developed to support public institutions through stand-alone WASH initiatives.

Integrated WASH Program

Green gaming: Video game firms make climate promises at U.N. NITED NATIONS—Gaming is going green—and some of the biggest game companies hope players will, too.

The companies behind PlayStation, Xbox, Angry Birds, Minecraft, Twitch and other video games and platforms pledged last week at the UN to level up efforts to fight climate change and get their throngs of users involved.

The promises range from planting trees to reducing plastic packaging, from making game devices more energy efficient to incorporating environmental themes into the games themselves.

“I believe games and gamers can be a force for social change and would love to see our global community unite to help our planet to survive and thrive,” Sony Interactive Entertainment CEO Jim Ryan said on the sidelines of the UN General Assembly gathering of world leaders.

Ryan said Sony’s plans include outfitting the next-generation PlayStation system with a low-power, suspend-play mode. He said if 1 million players use it, they could save enough electricity to power 1,000 average US homes.

Some games already are set in drowning coastal cities, educate children about wildlife or otherwise address environmental issues.

Former UN Secretary-General Ban Kimoon anointed the Angry Birds character Red as an “honorary ambassador for green” in 2016.

But the idea of gaming green got new visibility with last week’s commitments from 21 companies, facilitated by the

www.businessmirror.com.ph

UN’s World Health Organization this year recommended no more than an hour of screen time a day for children under 5, and none at all for those under 1.

Gaming company leaders say that not all screen time is of equal value. They believe their products can engage players on such serious issues as climate change.

“We try to provide entertainment with substance,” Clark Stacey, CEO of WildWorks, said in an interview.

Among the initiatives: n WildWorks intends to incorporate new materials about habitat restoration and reforestation into its children’s game Animal Jam, and to plant a tree for every new Animal Jam player.

consoles that are carbon-neutral—or don’t cause any net increases in heat-trapping carbon dioxide—and to promote real-life sustainability activities through its massiveselling game Minecraft. n Angry Birds maker Rovio Entertainment is offsetting carbon emissions generated by each of its daily, active players charging one mobile device per day for a year. n Game streaming giant Twitch, owned

by Amazon, intends to spread sustainability messages through its platform. n Google’s upcoming Stadia streaming service is financing research on how people can be inspired to change their behavior through games.

“They’re participatory. They require the player to take action. It’s not just absorbing a message from the outside,” said Erin HoffmanJohn, Stadia’s lead designer for research and development.

Strange Loop Games already has ecological issues at the hear t of its simulation game Eco. Players collaborate to build a civilization and confront its impacts on the environment. If they cut down too many trees, for example, they might kill off a species.

“For us, it’s less about telling the player about being green or avoiding climate change than letting them have that experience, letting them face that challenge themselves in a world that they care about,” CEO John Krajewski said in an interview. “And then they can bring that to the real world.” AP

“We are already seeing the demise of the warm water coral reefs,” Portner said. “That is one of the strongest warning signals that we have available.”

The report gives projections based on dif ferent scenar ios for emissions of heat-trapping carbon dioxide. One is a world t h at d r a m at ic a l ly de c re a s es carbon pollution — and the worst case is where little has been done.

We are closer to the worst-case situation, scientists said.

Outside scientists praised the work, but are disturbed by it.

“It is alarming to read such a thorough cataloging of all of the serious changes in the planet that we’re driving,” Texas A&M University climate scientist Andrew Dessler, who wasn’t part of the report, said in an e-mail. “What’s particularly disturbing as a scientist is that virtually all of these changes were predicted years or decades ago.”

Its authors emphasized that this report doesn’t doom Earth to this gloomy outlook.

“We indicate we have a choice.

W het her we go i nto a g r i m future depends on the decisions that are being made,” Portner said. “We have a better future ahead of us once we make the right choice.” AP

Through the Integrated WASH Program, communities are given physical access to a water supply that can provide them safe, clean and potable water for drinking, bathing, cooking and other everyday use.

With water readily accessible, the Integrated WASH Program moves to the sanitation phase. MWF intervenes by making sanitation facilities available in these communities.

Besides provision of facilities, MWF conducts behavioral change communication (BCC) campaigns to trigger a behavior shift that promotes good sanitation practices and strengthen community accountability in taking care of its new facilities.

Residents are involved in the design and construction and they are also put in charge of maintenance and minor repairs once the facilities are constructed. The last phase of the Integrated WASH Program is to enhance the community’s knowledge on proper hygiene practices, primarily Hand washing with soap (HWWS).

BCC campaigns on hygiene not only to teach the correct practice of HWWS during critical times, it also promotes having the presence of soap within handwashing facilities for an improved adoption of new behaviors that promote good health.

Flagship programs

Manila Water Foundation supports public institutions and low-income communities through the fagship programs. These initiatives target those who have less to no capacity to install their own water service connections, stand-alone water supply systems or sanitation facilities.

Hygiene education is also conducted to raise awareness on proper hygiene practices as keys to healthy living.

Pride in excellence

The Asia’s Community Care Company of the Year is presented to companies leading in significant, innovative and inspirational corporate social responsibility campaigns with a relevant mission.

MWF was able to fulfill the parameters of the campaign, including the ability to campaign to engage the public, generate positive brand communication, be creative in execution, methodological approach in results measurement, and campaign’s continuity. AP

Greta: A young activist praised and criticized

U

NITED NATIONS—She stepped onto the biggest of global stages to face the most diverse of audiences, and she made it count.

“How dare you?” she kept saying to some of the world’s most powerful people. “You are failing us,” she told them.

Sometimes, a moment and a person align. For the 16-year-old Greta Thunberg— whether you admire her or dislike her, and there are plenty of passionate partisans in both camps—last week was that time.

Climate change is a diffuse topic. And in a society trained to consume narratives by movies and TV shows that feature sharp storylines and powerful protagonists and antagonists, it can be difficult to focus on something so vast and all-encompassing.

Thunberg is changing that, and last week was the pinnacle of her efforts thus far. She navigated the United Nations like a diplomatic pro, her size and age the only indications that she hasn’t been around for years.

A Swedish high-school student who started by protesting outside her nation’s parliament, Thunberg has spent recent months in an accelerating bid to cast attention on global warming and its effects on the rising generation.

She made the most of her time in the spotlight of global politics last week. Her approach and words enchanted many and disgusted others.

In the latter camp, it seems, may be President Donald Trump, who appeared to jab at her after her UN climate conference appearance.

After Thunberg’s utterances of doom and gloom reverberated across the warming planet,

he produced this tweet: “She seems like a very happy young girl looking forward to a bright and wonderful future. So nice to see!”

Thunberg’s supporters say a voice like hers is pivotal to command attention, and that her cause is both selfless and her own.

Detractors have said she is being used by climate-change activists and is swimming in waters out of her depth.

“Kids are powerful pawns,”Rich Lowry wrote in the conservative National Review. “There’s a reason that we don’t look to teenagers for guidance on fraught issues of public policy.”

Fox News, meanwhile, apologized for a guest who called Thunberg mentally ill, and said he would never appear on the network again.

Michael Knowles of “The Daily Wire” made the comment during a segment on a Fox evening newscast. He also said Thunberg was being exploited by her parents and the left wing.

Young people around Thunberg have tended to focus on emotional appeals in recent months, saying older generations’ refusal to address climate change properly is stealing their futures.

Thunberg, though hardly impassive, has made a point of focusing on the science and being prepared with the facts.

The emotional appeal took precedence. It was a powerful landing.

“This is all wrong. I shouldn’t be up here,” Thunberg said. “I should be back in school on the other side of the ocean. Yet, you have come to us young people for hope. How dare you. You have stolen my dreams and my childhood with your empty words.”

She added: “We are in the beginning of a mass extinction and yet all you can talk about is money. You are failing us.” AP

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, September 30, 2019

Editor: Lyn Resurreccion

EDC, PPA partner to protect 21 rare native tree species

By Lenie Lectura @llectura

E

nergy Development Corp.

(EDC) has partnered with nongovernment organization Philippine Permaculture Association (PPA) to protect and propagate 21 rare and threatened native tree species in Nueva Ecija.

Under EDC’s Binhi program, 152 seedlings from these species were planted in the premises of Cabiokid Foundation Inc., a 13-hectare permaculture development site and integrated farm that serves as PPA’s demonstration farm.

Binhi is the only corporate-led program to identify and propagate 96 rare and threatened native tree species. Through the program, EDC has reforested over 9,500 hectares with these indigenous species.

Binhi now has over 150 par tners nationw ide that help propagate these tree species.

PPA promotes knowledge on

permaculture for sustainable agriculture. Permaculture is the practice of integrating people and the environment to create diverse, stable and resilient agricultural systems. It comes from the combination of the words “permanent” and “agriculture.”

Some of the species planted include yakal-saplungan, yakalmalibato, malabayabas, betis, apunan, pianga, kamagong, kamagong ponce, ipil, tindalo and supa. These species have dwindled in number in the wild and are no longer familiar to the younger generations.

EDC is one of the world’s largest geothermal producers and the country’s leading renewableenergy company with an installed capacity of 1,471.8 MW. EDC is a subsidiar y of the First Gen Corp., the country’s largest clean energy company, with a portfolio that included natural gas, geothermal, solar, wind and hydro.

Protection of migratory species key to thriving regl ecosystems

T

he Asean Centre for Biodiversity (ACB) highlighted the importance of transboundary cooperation among Asean member-states in protecting wildlife and migratory species, and their habitats in the region.

“Species know no national boundaries and so the responsibility of protecting them is not borne by one country alone. This makes subregional cooperation paramount,” ACB Executive Director Theresa Mundita Lim said.

Lim spoke about Asean’s joint efforts in reducing threats to biodiversity at a recent plenary session of the Eighth Annual Conference on Environmental Science held at Mindanao State University on its Tawi-Tawi campus in the Bangsamoro Autonomous Region in Muslim Mindanao.

She cited the collaboration between the Malaysian and the Philippine governments to protect the population of marine turtles moving across their boundaries. This was formalized by the bilateral agreement to establish the first transboundary protected area in the region, the Turtle Islands Heritage Protected Area, which aims to ban the collection of turtle eggs and introduce al-

AP/Arnulfo Franco

Volunteers conserve endangered sea turtles in remote Panama

J

ternative livelihood projects to involved communities.

A nother important project in the region, she noted, is the Asean Flyway Network, which aims to conserve migratory water birds and their habitats in the coastal and inland wetlands along the East Asian-Australasian Flyway (EA AF).

The first phase of the project began in 2018, with support from Japan-Asean Integration Fund and the Singaporean government as the country lead.

The project facilitated networking and collaboration among countries through the annual meeting of the Asean Flyway Network. National planning workshops were also conducted to identify priorities and challenges.

The Asean region lies at the heart of the EAAF, one of the major flyways in the world, which supports the annual migration of 50 million water birds.

Among the birds flying this

ACB Executive Director Theresa Mundita Lim speaks before the participants of the Eighth Annual Conference on Environmental Science at the Mindanao State University. ACB

route is critically endangered spoon-billed sandpiper, which breeds in northeastern Russia and winters in Southeast Asia.

As a result of the destruction and degradation of wetlands in which it resides, its global population has been rapidly declining.

The number of spoon-billed sandpiper is estimated between 240 and 456 individuals based on recent counts from the International Waterbird Census.

The Asean Biodiversity Outlook 2, citing findings by the Biodiversity and Nature Conservation Association, reported that Nan Thar Island in Rakhine State and Gulf of Martaban in Myanmar, both along the 8,000-kilometers EAAF, are critical wintering grounds for the species.

Lim said the network of coastal and inland wetlands along this

flyway is an interconnected system crucial for the survival of migratory water birds.

“Cooperation in the Asean is the most effective approach to conserving and protecting these migratory flyways,” Lim said.

The ACB also showcased the milestones and achievements of the Asean Heritage Parks Program in an exhibit during the three-day conference.

Organized by the Philippine Env ironmenta l Science A ssociation (Pesa), the conference gathered experts, government officials, students and members of the academe and the private sector for research updates and discussions on key environmental agenda. Pesa is a consortium of higher education institutions in the Philippines.

Scuba diving to promote Camiguin ecotourism

Endangered Kemp’s ridley sea turtle eggs overflow from a bag, on to a sandy beach in Jaque, Panama, in this September 21, photo. A small group of residents from Jaque recover the eggs laid by the turtles at night and take them to the hatchery right next to the local police station for protection against poachers.

AQUE, Panama—Iver Valencia goes out at dusk each evening during nesting season with a group of lantern-wielding villagers to walk a stretch of Panamanian beach. Their mission: to find nests where endangered Kemp’s ridley sea turtles lay their eggs and take them to a hatchery safe from predators.

On a recent night, Valencia and the others in the remote province of Darien in southeast Panama found five nests with dozens of eggs.

Valencia, 57, who arrived here as an adolescent from a town bordering Colombia, has been doing this for 18 years in the face of threats from poachers. The task has been further complicated by the drug traffickers who ply this jungle as well.

Jaque, a town of 2,000, is only reached by air or sea. Valencia and his allies built a hatchery here shaded by wood and wire.

Inside, they place the eggs in baskets where they’ll hatch in two months’ time.

Then the baby turtles will be released to the sea.

While the government contributed toward building the hatchery, the patrols are strictly a community volunteer effort by Valencia, who is the pastor of a local evangelical church, and his colleagues. The patrols are carried out during the

A9

T

May to December nesting season, which peaks in September, October and November.

They built the hatchery near a border police station where agents try to prevent poaching and protect the volunteers on their nightly collections. The volunteers often walk far into the night, so they prefer to go with agents of the National Borders Service in case they run into thieves or smugglers.

“The eggs are taken from the beach to be put in this place,” Valencia said. “Just for the fact that people here...haven’t become conscious of protecting the blessing that the turtles come here to lay their eggs. Instead they eat them, sell them.”

“For me, the main predator is always man,” Valencia said, though dogs, birds and crabs also eat the eggs.

Jaque is a fishing village and some locals also sell handicrafts, including plates made from palm fronds decorated with drawings of the turtles.

Local kids play soccer on the beach, but some also help collect the eggs at night.

“In the future, we hope that the community will be aware of the blessing and, in the future, we won’t see a hundred turtles, but thousands,” Valencia said. AP Old Volcano Edgar Allan Zeta Yap

he i sl a nd prov i nce of Camiguin, known for its powdery beaches, waterfalls and natural springs is looking to a new recreational activity to further boost its booming local ecotourism.

This, after the provincial gover nment and the Depar tment of Tourism (DOT)-Region 10 recently concluded the twomonth first Camiguin Dive Festival that logged more than 500 dives from loca l and foreig n scuba enthusiasts.

Divers from Manila, Batangas, Cebu, Bohol, Spain, Japan, Sweden, Finland, Australia, Korea, Russia and the United Kingdom took part in the dive fest.

Camiguin Gov. Jurdin Jesus Romualdo said the event stressed the importance of responsible diving and highlighted the province’s efforts in protecting its rich environment.

“We hope we can get more divers, responsible tourists, who would help us maintain our dive spots. With the help of divers, the provincial government would work hard to keep Camiguin’s coral reefs pristine and diveworthy,” Romualdo said.

He noted that while the scuba div ing has been going on for years, this is the first time that a comprehensive program was launched to tap the sy nerg y of the gover nment and pr ivatesector sta keholders.

He added that the province has been taking care of its marine protected areas by organizing residents and fisherfolk to help preserve the ecological balance of the island’s fish sanctuaries and dive sites.

Located off northern Mindanao mainland, Camiguin has around 20 dive sites, topped by Mantigue Island Natural Park, a marine sanctuary surrounded by a nice

drop off reef.

There is also Old Volcano, which has a spectacular canyon.

The festival was highlighted by the Underwater Photography Competition where British compatriots Peter Gosling and Lauren Hubbard bested other contestants in the wide angle and macro categories, respectively.

Judging the competition were noted u nder water photog raphers Penn de los Santos, Ram Yoro, Ramon Suijo, and Bo Mancao, a commissioner of the Philippine Commission on Sports Scuba Diving.

As a follow-up activity, Romualdo disclosed that Camiguin will roll out a dive tourism program with various workshops and assessment expeditions.

He envisions the dive fest to be an annual sports and adventure tourism event, which will help raise the people’s environmental awareness.

Early this year, the prov ince held the “Climb Camig uin” to showc a se Mou nt Ti mp o ong Hibok-Hibok Nat u ra l Monument, a t w in-volcano protected a rea, wh ic h wa s recent ly declared by the A sean Centre for Biodiversit y as an A sean Her itage Park.

The dive fiesta was supported by groups, such as Ajis Camiguin Adventures, Black Beach Divers, Camiguin Souldivers, Camiguin Volcan Beach Eco Retreat and Dive Resort, Johnny’s Dive N’ Fun, Kurma Eco Beach Lodge and Scuba de Oro, which are all accredited dive centers by the Philippine Commission on Sports Scuba Diving, the DOT arm which oversees the Philippine dive industry.

Other suppor ters were Fujifilm, Pr imer Group of Cos., ROX , Bil labong, Aquamundo, A qu a Vent u res, a nd of f ic i a l car r ier Sk y jet A irlines.

A10 Monday, September 30, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Should the government get out of gambling?

G

lobally, legal government-regulated gambling is a $400 billion a year business.

By comparison, the global illegal drug trade is estimated at $500 billion. Counterfeit and pirated goods come in first, though, at $1.2 trillion.

Another statistic that would be interesting to know is how much government corruption money is generated from these three sources. Law enforcement and customs officials are on the take from every level of the illegal drug business. The price of every fake designer handbag and every gram of rhinoceros horn power includes “for the boys” as piece of the action.

However, government corruption is not in any way confined to protecting and furthering illegal activities. At the least, every legal business is ripe for government corruption. At the worst, payoffs are expected by both sides of the transaction. Ask any owner of a bar or restaurant about their encounters in getting a fire or health department permit.

Every pie that government sticks its finger into guarantees a taste of that pie by some government official. Government corruption increases as government regulation and involvement in private business increases.

The best that can be said is that some countries—usually small in population and with strong institutions—have “low” levels of government corruption. Denmark ranks the least corrupt in the world.

Yet, Danske Bank, the largest in Denmark, was accused of the largest money laundering scandal in history of over $200 billion in allegedly Russian money.

Was government corruption involved? Can total regulatory incompetence be described as “corruption” even if no money exchanged hands?

Further, the greater the control by the government of a particular business, the greater the likelihood of corruption. This includes outright theft of government funds to kickbacks and “sweetheart” contracts.

Estimates are that Pagcor (Philippine Amusement and Gaming Corp.) will generate about P74 billion in 2020. Based on internal data, the PCSO (Philippine Charity Sweepstakes Office) earned P64 billion in 2018.

Finance Secretary Carlos G. Dominguez III said last week that the government can earn a conservative amount of P300 billion yearly if the gaming industry is privatized. This idea has been kicked around for at least a decade. Pagcor has been talked about as a potential candidate for listing on the Philippine Stock Exchange for years. Yet, nothing ever moved forward. Who has what to gain for keeping Pagcor a “private” corporation owned and operated by the government?

Senate Minority Leader Franklin M. Drilon was quoted as saying, “All over the world, in all jurisdictions where there is a gaming industry, the government only limits its role to regulatory. The state is never involved in gambling itself, because of the basic conflict of interest since you are regulating yourself.” Not to mention the potential and actual corruption.

It is time to change the system. While Dominguez is speaking of the government getting completely out of the gaming business, there is another alternative. No better way would be to “privatize” both the PCSO and Pagcor by taking those corporations to the public market.

The government might still own the majority of shares. But the transparency of a publically listed company is much greater and timely than the current format of a government-owned and -controlled corporation.

The state of the world according to the UN Atty. Jose Ferdinand M. Rojas II

RISING SUN

T

O conclude the three-part series on the update of the United Nations regarding the achievements related to the 17 Sustainable Development Goals, here is the summary of the report on Responsible Consumption and Production; Climate Action; Life Below Water; Life on Land; Place, Justice and Strong Institutions; and Partnerships for the Goals.

The way humans consume is killing the planet. In exchange for industrialization and economic growth, our natural resources are being depleted and our environment suffers. More effort and action are necessary to move the Earth toward a sustainable, circular economy.

Since the year 1990, the global material footprint has more than doubled. This refers to the amount

✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon

Atty. Lorna Patajo-Kapunan

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Adebelo D. Gasmin Marvin Nisperos Estigoy Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

legally speaking

C

oncern over the escalation of attacks against lawyers and judges in the Philippines has prompted the issuance by lawyers’ organizations worldwide of the statement reproduced hereunder: It is hoped that our Philippine government and our justice system heed the recommendation.

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

average of nine people were murdered each week. These victims include journalists, human-rights defenders, and other people who work on the front lines of building a more inclusive and just society. In 2015 to 2017, the average was seven people killed every week.

Based on the update from the UN, there is support for the SDG, generally. However, overseas aid or Official Development Assistance dropped 2.7 percent to $149 billion from 2017 to 2018. This funding is the biggest source of external financing for the poorer nations.

And finally, to be able to spread the word about the SDG campaigns, access to the Internet is greatly needed. Statistics show that more than 80 percent of people in developed countries were online in 2018. However, this number was just 20 percent for the least developed countries. The disparity means that there is more work to be done in order to create an inclusive global information society.

An appeal for safety of lawyers and judges

Since 2005

BusinessMirror A broader look at today’s business

of raw materials needed to meet the world’s consumption demands.

In addition, about one-third of the food produced every year is wasted or lost, and this happens most in rich or developed countries.

And the greatest challenge to sustainable development? Yes, climate change. The UN says that in order to limit global warming to 1.5 degrees Celsius by 2030, the total carbon

emissions the world over should decrease by 45 percent compared to the 2010 levels. We can see around us that governments are doing something about this. As of May 2019, there were 182 countries (and the European Union) that have set their first nationally determined contributions. They are also committed to increasing the budgets for projects that address climate change.

Likewise, more countries are doing more to protect our oceans.

According to the Red List Index, the risk of extinction is higher today than in the last 25 years. This index tracks the species on Earth.

The increase is apparently due to unsustainable agricultural practices, climate change, and deforestation.

As far as Place, Justice and Strong Institutions are concerned, the UN’s report revealed that we all have a long way to go. In many places around the world, many of those who are trying to push this agenda are being killed. From January to October 2018 alone, an

‘The Philippines: Attacks against lawyers escalating’ “September 17, 2019—We, the undersigned organizations, lawyers and members of the legal profession, express deep concern over the increasing attacks against lawyers in the Philippines and the oppressive working environment they face since the start of President Duterte’s administration. We call on the Duterte administration to adequately protect the safety and independence of lawyers and end the culture of impunity in which these attacks occur.

Extrajudicial killings and harassment of lawyers Since President Duterte took office on June 30, 2016, the number and intensity of attacks against lawyers have increased significantly.

At least 41 lawyers and prosecutors were killed between July 2016 and September 5, 2019, including 24 practicing lawyers. Lawyers are also harassed and intimated. They are subjected to (death) threats, surveillance, labeling and other forms of attacks. In addition, at least five

judges and retired judges have been murdered since July 2016, bringing the total number of jurists extrajudicially killed in the Philippines to at least 46 in the same period. Eight jurists survived attacks on their life.

Lawyers at risk Most killings and attacks of lawyers took place as a result of discharging professional duties or are believed to be otherwise work-related. Especially at risk are lawyers representing people accused of terrorist or drugrelated crimes, or government critics, such as journalists, political opposition leaders, and human-rights defenders. Lawyers providing legal representation in high-profile cases impacting established interests, such as land reform, or lawyers taking part in public discussion about humanrights issues, also face reprisals.

Grave implications of threats and labeling United Nations High Commissioner for Human Rights Michelle Bachelet recently noted that senior officials of the government of the

Philippines have threatened lawyers and others who have spoken out against the administration’s policies, and she added that this “creates a very real risk of violence against them, and undermines rule of law, as well as the right to freedom of expression.”

Prior to being attacked some lawyers were labeled as “communist” or “terrorists” by the state.

Concerned with the sharp deterioration of the human-rights situation, 11 UN human-rights experts, in a June 7, 2019, press release, called on the UN Human Rights Council to establish an independent investigation into human-rights violations committed in the Philippines. “Instead of [the government] sending a strong message that these killings and harassment are unacceptable, there is a rising rhetoric against independent voices in the country and ongoing intimidation and attacks against voices who are critical of the government, including independent media, human-rights defenders, lawyers and journalists, the experts said.

Culture of impunity The UN experts also noted that “the government has shown no indication that they will step up to fulfill their obligation to conduct prompt and full investigations into these cases, and to hold perpetrators accountable in order to do justice for victims and to prevent reoccurrence of violations.”

Consequences The attacks against and extrajudicial killings of lawyers and the impunity shielding perpetrators

impair the ability of lawyers to provide effective legal representation, make lawyers increasingly wary of working on sensitive cases, and consequently severely undermine the proper functioning of the rule of law and the adequate protection of rights, including the right to remedies and fair trial.

International obligations According to the United Nations Basic Principles on the Role of Lawyers (UN Basic Principles), States should ensure that all persons within their jurisdiction have effective and equal access to lawyers of their own choosing, and that lawyers are able to perform their professional functions without intimidation, hindrance, harassment or improper interference.

The Basic Principles require that lawyers are adequately protected when their security is threatened because of carrying out their legitimate professional duties, and not be identified with their clients or their clients’ causes. The Basic Principles affirm that lawyers, like other citizens, are entitled to freedom of expression and assembly. The duty to respect and guarantee these freedoms forms an integral part of the Philippines’ international legal obligations under the International Covenant on Civil and Political Rights.

Recommendations In view of the above, the undersigned organizations and individuals urge the government of the Philippines to: 1. Investigate promptly, effectively, thoroughly and independently all extrajudicial killings and attacks See “Kapunan,” A11

www.businessmirror.com.ph

Opinion

I-ACT: I will ACT

Resignation venerated

BusinessMirror

Siegfred Bueno Mison, Esq.

Thomas M. Orbos

THE PATRIOT

STREET TALK

I

T was around this time some three years ago, when the InterAgency Council for Traffic or I-ACT was launched. A brainchild of Department of Transportation (DOTr) Secretary Arthur Tugade, the idea was to combine all the resources and efforts of various transport and traffic-related government entities—both local and national—to combat the traffic problem, while awaiting the needed legislation and the long-term infrastructure projects to be completed. It was an unprecedented move that had never been attempted previously primarily because of the difficulty in putting together overlapping, sometime contrasting mandates of various agencies. But it made sense, given the tremendous task at hand.

Initially the council was made up of the DOTr, its attached agencies— the Land Transportation Office and the Land Transportation Franchising and Regulatory Board, the Highway Patrol Group and the Metropolitan Manila Development Authority. I was then the general manager of the MMDA and together with the traffic enforcement teams of all the 17 local government units of Metro Manila, was responsible of the bulk of I-ACT ground operations. Also joining me on the ground were then HPG head, General Tony Gardiola, LTFRB Chairman Chuck Delgra, BM Aileen Lizada, then-retired General Manny Gonzales and General Chuck Guinto, representing the LTO. Sometime later on, I-ACT would request the Joint Task Force of the Armed Forces of the Philippines and the Coast Guard as its force multipliers. From time to time, other government agencies, such as the Department of Public Works and Highways, of the Interior and Local Government, and the Environment and Natural Resources would be tapped in an advisory as well as operational capacity. We also were joined vigorously by various private sector volunteers such as the fire volunteers, motorcycle associations, and sociocivic organizations.

Those were exciting times and there was an air of noble and gung ho spirit knowing that we were one team in meeting up to the challenge. This probably helped us work with supererogation despite our meager resources, and I-ACT had many significant campaigns. We initiated the clearing of barangay roads, even way before the present presidential directive.

I-ACT also opened up the military camps and was successful in convincing several private exclusive villages to conditionally open their gates to the public. Remember the “Nose-in, Nose-out”, the “Closed Door” policies, the partial light truck ban, the 2016 Christmas rush efforts, Oplan “Kamao” and the “Tanggal Bulok, Tanggal Usok?” All these were I-ACT initiatives. For its first seven months,

Kapunan. . .

continued from A10

against lawyers, and other jurists, with the aim of identifying those responsible and bringing them to justice in proceedings that respect international fair trial standards.

2. Take all reasonable measures to guarantee the safety and physical integrity of lawyers, including the provision of adequate protection measures, in consultation with the person concerned; 3. Consistently condemn all forms of threats and attacks against lawyers publicly, at all political levels and in strong terms; and 4. Fully comply with and create awareness about the core values underlying the legal profession, among others by bringing the UN Basic Principles on the Rule of Lawyers to the attention of relevant stakeholders, especially members of the executive, police and the military.

Organizations: Advocaten zonder Grenzen (Netherlands), European Association of Lawyers, Afrika Judges and Jurists Forum, Agora International Human Rights Group

around 10 to 14 minutes were shaved off the travel time in Edsa. But probably the most significant of all I-ACT operations was the “liberation” of Baclaran. Past efforts to clear this vital area were “short-term affairs” and almost always resulted in confrontation and violence. We moved in to clear Baclaran, but not in the way done in the past. It took us a month of consultations, of give-and-take, and of mediating between our Catholic and Muslim brothers. Baclaran was cleared peacefully, and remains to be clear, I would like to believe, because of that thorough understanding of its socioeconomic, political, religious and historical undertones.

I-ACT would soon take bigger roles. It would find itself in other parts of the country sharing its methodology of national-local government collaboration. I-ACT also developed a group enforcement protocol that prevented the collusion between enforcers and transport groups. For our legislators finding ways to unify our transport and traffic policies and efforts, you need not go far. I-ACT is already that seed that was planted on the ground.

One great significance of I-ACT is the realization that traffic will never be resolved with one agency, more so one person. There is no traffic czar, no one liberator of Baclaran or one single traffic catalyst. Those who claim to be so need to cringe in the dark corners under the Buendia flyover for trampling on the collective blood, sweat and tears of those who quietly do their jobs. Traffic is best addressed by everyone—government and private sector alike. And solving it is acting on it—collectively. This is the spirit of I-ACT. It is the firm resolve of one’s self to be part of a bigger solution. IACT is indeed “I will ACT.” Thomas Tim Orbos was former DOTr undersecretary for roads and general manager of the MMDA. He is currently undertaking further studies at the McCourt School of Public Policy of Georgetown University. He can be reached via e-mail at thomas_orbos@sloan.mit.edu

(Russia), Amsterdam Bar Association (Netherlands), The Arrested Lawyers Initiative (Turkey), Asian Human Rights Commission, Asian Legal Resources Center, Association of Lawyers for Freedom, Avocats Sans Fontieres Belgigue, Avocats Sans Frontieres (Suisse), Bar Human Rights Committee of England & Wales, Barcelona Bar Association, Berlin Bar Association, Cameroon Bar Association, China Human Rights Lawyers Concern Group, Confederation of Lawyers of Asia Pacific, French National Bar, Council of Bar and Law Societies of Europe, Croatian Bar Association, Defense sans Fronteire—Avocats Solidaires, Democratic Lawyers Association of Pakistan, Ilustre Colegio de Abogados de Lima Sur (Peru), Indian Association of Lawyers (Member of Colab), International Association of Democratic Lawyers, International Association of Lawyers, International Association of Peoples’ Lawyers, International Association of Young, International Bar Associations’ Human Rights Institute, International Commission of Jurists, International Observatory for Lawyers in Danger, Japan Lawyers International Solidarity Association, Rechter Voor Rechters Judges for Judges (Neth-

Part One

A

lmost all military units worldwide have some form of tradition to build a sense of unity and cohesion among their members by sharing a common experience, usually testing the individual’s physical stamina and psychological fortitude. Some might call it maltreatment; others may see it as hazing.

For the most part, these forms of character-building exercises are aimed to strengthen one’s resolve in anticipation of the hardships to be encountered during military operations. Unfortunately, a few members of the unit can abuse such tradition to the point of causing severe injuries, and even death, as in the case of Philippine Military Academy (PMA) Cadet Fourth Class Darwin Dormitorio who died on September 25, 2019.

In the 114-year history of PMA, there have been very few cadet casualties due to hazing. In this day and age, however, where there is greater awareness of the anti-hazing law and respect for human rights, society expects that these incidents of cruel and inhuman punishments should be down to nil. To those who have gone to any military institution, PMA especially, they understand that the culture within practically embeds

some form of physical discipline, but not punishment, and some form of mental challenges, not anguish. But, when a few cadets fail to know the difference, then the concept of command responsibility kicks in to hold persons accountable.

Both graduates of the PMA and both highly decorated Army officers, Lt. General Ronnie Evangelista was the PMA Superintendent and Brig. General Bartolome

Monday, September 30, 2019 A11

Bacarro was the Commandant of Cadets during the untimely death of Dormitorio. Both resigned from their posts, not because they admitted liability, but simply because of their genuine appreciation of command responsibility. Both resigned from their posts, not because they were asked to resign, but because they were paving the way for a solution to the century-old situation in PMA. Trusting that these leaders were placed in a position of responsibility, they ought to know how to respond during crisis. Both the superintendent and the commandant, likely, resigned realizing that their power is a sacred trust for which they will have to give an account someday.

I therefore find it unfair for some judgmental people to demand the resignation of these officers and gentlemen in PMA. Calls for resignation, whether in government or in the private sector, are unnecessary. In the Bible, Romans 14:10, 12 tells us, “You, then, why do you judge your brother or sister? Or why do you treat them with contempt? For we will all stand before God’s judgment seat. So then, each of us will give an account of ourselves to God.” Aside from being judgmental, those who resort to character assassination and maligning of reputation are simply wicked in His eyes. Vicious and abusive people may bask under the sun

in this world but there will always be a day for reckoning.

Hence, prior to their resignations, both Evangelista and Bacarro already initiated the appropriate proceedings to determine the culpability of those responsible for the death of Dormitorio and to address the morale situation in the Corp of Cadets caused by this isolated yet shameful incident. Aside from the usual fact-finding investigation, remedial measures, such as values-based seminars and reorientation of leadership mindsets of cadets are expected in the near future. But when asked for long-term solutions, most PMA graduates, including Evangelista himself, would resort to the Honor Code to address the misaligned utilization of military traditions by a handful of cadets.

Aside from being a commendable sacrifice in their respective careers and a class act in the eyes of their brothers-in-arms, the resignation of both Evangelista and Bacarro is something to be venerated and emulated by everyone. It serves a reminder that leaders, especially those in the military, are not given positions of power but positions of responsibility.

To be continued For questions and comments, please e-mail me at sbmison@gmail.com.

The untaxed world of Internet commerce Jeffrey Galang Salazar

DEBIT CREDIT

I

nternet or simply “The Net” is a worldwide system of computer networks connecting millions of people and industries to exchange data, information, news, opinions and business transactions (e-commerce) online. The Internet is very accessible and can be accessed through computers, laptops and even handheld devices. The transactions on the Internet are fast and easy but often undetected by the taxing authorities.

There are various ways to earn on the Internet, such as selling of products and services through online shopping portals, paid advertisements in video sharing sites of popular bloggers, and advertisements from web sites on a pay-perclick basis. Home-based online jobs abound, where payments are typically sent through bank credits or cash remittances.

Social media, which was originally designed for personal engagements of virtual communities sharing life erlands), I’Institut des droits de I’homme des Avocats europeens, Law Bureau of the Oppressed— Ezillenlerin Hukuk Burosu, Law Council of Australia, The Law Society of England and Wales, Law Society of Ontario (Canada), Lawyers Association RAV (Germany), Lawyers for Lawyers (Netherlands), Lawyers Right Watch Canada, Le Barreau du Kasai Central (Congo), Lithuanian Bar Association, Luxembourg Bar Association—Barreau de Luxembourg, Media and Law Studies Association (Turkey), MINBYUN— Lawyers for a Democratic Society of the Republic of Korea, National Bar of Attorneys-at-law in Poland, Nepal’s Lawyers Association, The Association of the Bar of the City of New York (United States), Orde Van Advocaten Den Haag—The Hague Bar Association (Netherlands), Bar Association North Netherlands, Paris Bar—Barreau de Paris (France), Southern Africa Litigation Centre, Surinamse Orde van Advocaten—Surinam Bar Association, Swedish Bar Association, Thai Lawyers for Human Rights (Thailand), The Norwegian Bar Association, Human Rights Committee, Vietnamese Lawyers Association, Zimbabwe Lawyers for Human Rights.”

events, ideas and events, are now bombarded by advertisements of various products and services offered for sale. These transactions arising from these advertisements are generally nonreceipted and presumably untaxed by the Bureau of Internal Revenue (BIR). Furthermore, the customers of these online trading are exposed to product quality and lack of warranty risks in their purchases since the sellers from whom they transacted oftentimes have no registered business registration and

valid addresses where buyer complaints can be filed.

I speculate that the income from video sharing sites and home-based online jobs are also undeclared for tax purposes by those involved. The people doing these online businesses include teenagers, housewives and even children (e.g., doing toy reviews) who might not be aware on the tax consequences of their businesses.

These people may not be intentionally avoiding payment of their tax liabilities but are just ignorant about the pertinent tax laws governing these.

Online shopping is becoming popular in the Philippines, since people can shop for an array of products and services at the touch of their fingertips. This mode of e-commerce sector are considered as legitimate businesses subject to the various regulatory requirements. Hence, the BIR must keep an eye on those merchants who may not be issuing receipts for their sales. They should be reminded that Section 237 (A) of Republic Act 10963, or the Tax Reform for Acceleration and Inclusion law, specifically provides that the sale of goods or services valued at P100 or more requires the issuance

of duly registered receipts or commercial invoices.

The online traders may be exempt from income tax if their annual gross earnings do not exceed P250,000 but they are still required to report earnings and file the corresponding income tax returns.

Technology is moving fast and substantial amount of taxable transactions continue to be done on the Internet. The government must coordinate with different regulatory agencies and the social media, videosharing services, and online shopping companies to come up with strategies and regulations to collect tax revenues from these largely untaxed income sources. BIR must also launch a public awareness campaign on the duties and responsibilities of tax compliance for those involved in Internet commerce.

Jeffrey Galang Salazar is a Certified Public Accountant and a Master in Business Administration degree holder. He is a PRC-BOA public practitioner and professor.

This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat.@gmail.com

Impeachment comes with a foreign policy silver lining

By James Gibney Bloomberg Opinion

E

ven before House Speaker Nancy Pelosi pulled the trigger on an investigation into President Donald J. Trump’s dealings with Ukraine, there were fears and complaints that impeachment proceedings would dangerously compromise United States foreign policy. Beyond just stifling the president’s communications with foreign leaders, wrote former Justice Department official John Yoo, Congress “would seize the upper hand in foreign affairs, which has produced disasters.”

But there’s another possibility. Even if things fizzle out before reaching a Senate vote, the impeachment process may have a salutary foreign-policy effect: rejuvenating America’s image and safeguarding its increasingly tattered alliances and claims to global leadership.

Whether isolating the US at the United Nations, moving ahead on trade pacts that the administration has abandoned, or resisting White House efforts to blow up accords on climate change and Iranian nuclear proliferation, many countries are looking less to Washington for leadership. In Gallup’s most recent survey of more than 130 countries,

the median global approval rating of US leadership stood at 31 percent. That was below not just Germany, but also China.

To be sure, public opinion is an imperfect barometer of policy effectiveness.

What makes Trump so corrosive to US power and preeminence are not his goals so much as his manner of pursuing them. The world can shrug off his tweeted insults and, otherwise, boorish behavior. The real problem is the madness of his methods: his short-term, zero-sum transactional thinking; his mercurial and opaque decision-making; and his highly personalized “I alone can fix it” policy process. For starters, this ensures that none of his cabinet members or subordinates speaks with any authority.

Just ask former National Security Advisor John Bolton, the latest high-level official to get kicked off the island.

Maintaining alliances and deterring enemies both depend on predictability and trust—not exactly Trump’s strong suits. Who knows, for instance, if the US is withdrawing from Afghanistan next week or next year?

Trump’s promiscuous linkages of security guarantees and trade agreements have devalued relationships built over decades, and left partners with no solid footing. As former State Department Counselor Eliot Cohen wrote in

Foreign Affairs, “To a stunning degree, the Trump administration has diminished the sense of US constancy that has been indispensable to the postwar liberal order.”

Trump’s unwillingness to stand up for democracy and human rights, and his willingness to truck with “favorite” dictators and petty tyrants are another problem. This represents a dangerous repudiation of American values that also undermines US interests.

As legislators consider the costs and benefits of impeachment, they should therefore bear in mind that the impact of impeachment will not stop at the water’s edge. (Two days after Nixon resigned in August 1974, the US ambassador in Moscow cabled Washington that Watergate will cause the Soviets “to revise even further upward their view of Congressional power.”) Given Trump’s track record, those global reverberations will be mostly good. Even if the president is not ousted, a resolute attempt to hold him to account could diminish his ability to pursue his destructive policies, consume his time and attention, and further reduce his credibility abroad. It will also remind defenders of the international liberal order that they still have allies in at least one branch of the US government.

A12 Monday, September 30, 2019

www.businessmirror.com.ph

Give exporters 10 yrs to give up perks–DTI

T

By Elijah Felice E. Rosales

@alyasjah

he Department of Trade and Industry (DTI) is asking senators to give high export firms a maximum of 10 years to surrender their fiscal incentives to ease the impact of the second tax reform package on investment inflows and employment figures.

Trade Secretary Ramon M. Lopez admitted that a longer transition is needed to cushion the impact of the Corporate Income Tax and Incentives Rationalization Act bill on firms operating in economic zones. The Citira bill will reduce corporate income tax (CIT) rate to 20 percent by 2029, from 30 percent at present, at the expense of incentives granted to investors.

Under the measure, locators are provided up to five years to relinquish their tax perks, including the

700,000

Estimated job loss once the Citira bill is passed into law. This estimate came from the American Chamber of Commerce of the Philippines.

5-percent tax on gross income paid in lieu of all local and national taxes, before they shift to paying CIT. Lopez argued the transition period should be five years at the minimum and can go as long as 10

years for economic zone firms significantly contributing to export and employment numbers. He said this should also ensure they are to stay here in the Philippines in spite of the tax perks overhaul. “[Transition should be] a minimum of five years or seven years [and] maximum of even 10 [years] because these are high exporting firms. They are really performing as locators, and some of them even employ 20,000 [workers] or more. The bottomline is the impact to jobs [of this measure],”

Lopez said in a recent interview with reporters.

The trade chief added this should also buy the government some time to make the necessary reforms needed to attract investments, particularly the rollout of its infrastructure program. Once the transition has ended, investors are assured of cheaper logistics cost due in large part to better transportation and connectivity infrastructure brought about by the program.

See “DTI,” A2

After spike, oil prices rolled back DOF to Peza: AFP SET TO PROCURE Investments 16 RUSSIAN CHOPPERS A WEEK after oil companies implemented the biggest oil price hike for the year, they announced a price cut in pump prices.

Phoenix Petroleum led the oil price rollback at 6 a.m. of Sunday, September 29. It reduced gasoline prices by P1.55 per liter and diesel

by P0.50 per liter.

Seaoil Philippines said Sunday it would implement a downward price adjustment in its gasoline products by P1.45 per liter, diesel

by P0.60 per liter and kerosene by P1 per liter. Seaoil’s price cut takes effect at 6 a.m,, Monday.

Petro Gazz said Sunday it would

reduce gasoline price by P1.55 per liter and diesel by P0.50 per liter on Tuesday morning, October 1.

Pilipinas Shell announced Sunday it would implement its price rollback on Tuesday morning by P1.45 per liter for gasoline, P0.60 per liter for diesel and P1 per liter for kerosene.

More oil firms are expected to follow suit.

Prior to the latest price adjustment, gasoline price increased 25 times since the start of the year by P10.04 per liter, diesel by 22 times for a total of P8.04 per liter and kerosene by 23 times for P4.87 per liter.

Last week, gasoline prices shot

SEVERE TROPICAL STORM "ONYOK" 615 KM EAST OF TUGUEGARAO CITY, CAGAYAN as of 4:00 am - September 29, 2019

up by P2.35 per liter, diesel by P1.80 per liter and kerosene by P1.75 per liter in the aftermath of the September 14 drone attacks on Saudi Arabian oil facilities.

Oil companies have been saying that movements in the world oil prices affect local pump prices. The behavior of the peso against the US dollar also affects local pricing. “[Oil firms] can buy at high price and sell it here at low prices but they can also buy at high prices and sell at low prices. It’s a free enterprise.

It’s a risk for them. That’s why consumers have the choice,” Energy Secretary Alfonso Cusi said.

Lenie Lectura

less reliant on incentives

By Bianca Cuaresma

F

@BcuaresmaBM

OREIGN investors eyeing a share of the Philippine market are becoming less driven by incentives, the Department of Finance (DOF) said, pushing against the Philippine Economic Zone Authority’s (Peza) claim that rules of incentives should not be changed so as to retain investor confidence.

In a DOF statement at the weekend, Finance Undersecretary and DOF Chief Economist Gil Beltran said investors are now driven by the country’s strong economy— and not the incentives given—in making their decision to put their capital in Philippine shores.

“Looking at the data, we will even find that these FDI [foreign direct investments] are increasingly non-reliant on incentives.

While more and more investments are coming into the country, the level of investment pledges through Peza, which are pledges made with the expectation that incentives will be granted, have been going down,” Beltran said.

“Since our fundamentals are in place, incentives are becoming less and less of a factor for investment.

Even before Citira or Trabaho [Tax Reform for Attracting Better and High-Quality Opportunities the Citira’s predecessor] was proposed, Peza investment pledges have been going down,” he added.

“Furthermore, it seems that investors lately do not base their pledges on incentives given forever. In 2018, the largest amount of investment pledges came from firms registered with the Board of Investments, which does not grant incentives forever. Investment pledges with the BOI in 2018 amounted to $1.97 billion. Those with Peza only amounted to $1.3 billion,” Beltran noted.

Beltran reacted to Peza’s continuous push against the Citira, claiming that a change in the rule of incentives and investments will drive away potential investments—thus becoming a drag to the country’s overall gross domestic product (GDP) and competitiveness against its regional counterparts.

Peza Director General Charito Plaza has been vocal in opposing Citira, saying the country will suffer from capital flight should the government insist on rationalizing fiscal incentives.

Plaza also said their agency will go all or nothing in seeking the exemption of locators from Citira coverage. She said the bill should be applied to domestic enterprises only, and that economic zone firms should be allowed to keep their tax perks after the measure’s passage.

See “DOF,” A2

By Rene Acosta

@reneacostaBM

T

HE Armed Forces is reportedly set to procure 16 units of Mi17 medium-lift helicopters with a total worth of P12.5 billion as it beefs up its air capability in the first official acquisition from Russia.

The Russian choppers, worth $14.7 million for every unit, are being acquired under the second phase of the military’s modernization program. Additional assets and equipment will be bought, including helicopters for a wide variety of missions, for this phase.

The procurement is expected to be officially signed during President Duterte’s visit to Russia on Tuesday. He is scheduled to meet with Russian President Vladimir Putin.

The Department of Foreign Affairs (DFA) announced that a number of agreements will be signed.

While Russia has been considered by the military among its possible sources in its continuing effort to strengthen its capability through an ambitious modernization program, the procurement of Mi-17 helicopters would be the first from Moscow.

During the 72nd anniversary of the Philippine Air Force in July, Duterte vowed to strengthen the unit by equipping it with muchneeded air assets. It is the second biggest beneficiary of the modernization program for now, after the Philippine Navy.

RCEF. . .

Continued from A1

Enhancement Program pursuant to Section 13 of Republic Act 11203 or the Rice Liberalization Act.” Another Saro amounting to P2.995 billion was released on September 25 to Philippine Center for Postharvest Development and Mechanization for the same purpose.

Saro refers to a specific authority issued to identified agencies to incur obligations not exceeding a given amount during a specific period for the purpose indicated.

It shall cover expenditures the release of which is subject to compliance with specific laws or regulations, or is subject to separate approval or clearance by competent authority.

The remaining P4 billion was released after the DBM received a certification from the Bureau of Treasury earlier this month that there is excess government money for RCEF, which was supposed to help farmers cope with the transition to a new regime as the government implements the rice trade liberalization law.

Through the RCEF, rice planters can expect support from the government for farm machinery and equipment, seed development, propagation and promotion, credit assistance and rice extension services.

“I am hoping and praying that before my remaining three years expire, all of these things, especially the labeled ‘Horizon Projects’ of yours, will be completed during my term,” Duterte said then at the anniversary rites.

The second modernization phase, dubbed the “Horizon,” involves the acquisition of various land, air and sea assets for the military’s major armed services, with the allotment of a total P139 billion, which Duterte has signed.

The Mi-17 is being marketed

by Rosoboronexport, the marketing arm of the Russian Defense Industry, which has reportedly offered to give one additional helicopter for free as a “sweetener” for the 16 units of Russian helicopters.

There had never been any public discussion about the planned acquisition of the choppers in the AFP or in the Air Force, unlike the other big-ticket procurement projects of the military.

At the launching of the office of the Russian defense attache in Manila three weeks ago, Russian Ambassador Igor Khovaev told military reporters that he and a Rosonboron official went to Malacañang and offered Russia’s assistance.

The assistance include the selling of state-of-the-art armaments, which Khovaev pointed out as new —compared to the equipment being offered and sold to the country by other sources.

It was only in late August that the debate ended between DBM and the DA on whether the controversial P5-billion fund released in December was already deemed part of RCEF despite Congress failure to pass the proposed rice trade liberalization law before end-2018. The DBM had argued that the P5 billion was part of the RCEF but the DA said it was a supplementar y fund for its national rice program.

Since DA has already returned P1 billion of the said P5 billion to Land Bank of the Philippines and Development Bank of the Philippines, the DBM owed rice farmers P4 billion, prior to settling the issue. The DBM also disbursed P5 billion for the RCEF last July.

Despite senators pointing out the DBM must not wait for excess revenues to allocate funds for RCEF, the DBM has since stood firm that the P4 billion can only be released if there is excess revenue collection, since the allocation for RCEF was prescribed under the unprogrammed funds in the 2019 General Appropriations Act (GAA).

Unprogrammed appropriations are not yet supported by corresponding resources but are still included by Congress in the GAA. These also refer to standby appropriations which authorize additional agency expenditures for priority programs and projects in excess of the original budget.

www.businessmirror.com.ph

Companies BusinessMirror

Monday, September 30, 2019

B1

Big Boss Cement, sister firm to invest ₧10B for new plants

B

By VG Cabuag

@villygc

IG BOSS Cement Inc., a firm that uses a different kind of technology to produce its products, is investing with its sister firm some P10 billion for its new plant lines in Pampanga and Zamboanga as the companies ride on the huge demand.

Company President Gilbert S. Cruz told reporters the firms are building a total of four cement lines in Pampanga, while their sister company, Petra Cement Inc., is building two lines in Zamboanga del Norte.

Both fir ms have the same shareholders led by Cruz and company Chairman Henry Sy Jr., who has investments in the firms in his personal capacity and not with the SM Group, where he is one of the directors.

Cruz said they will spend a total of P7 billion for the Pampanga plant and P3 billion for the Zamboanga plant, or an average of about P1.5 billion per line.

The Pampanga plant is more expensive because it includes prototypes as the firm perfects its technology, which Cruz said they may export to other countries when the right time comes.

He said each line has a capacity of 1 million bags of cement a month and Big Boss has already completed

two lines in Pampanga, with two more lines to be finished by the first quarter next year for a total capacity of 4 million bags a month.

There are about 25 bags of cement for every metric ton.

Meanwhile, the company will complete the first production line in Zamboanga in November and will soon be investing for the next line. There is no cement manufacturing plant in Zamboanga, he noted.

Cruz said they also plan to put up more plants in areas, such as General Santos, Negros and Iloilo, with the aim of reaching a total capacity of between 10 million and 12 million bags a month in five years, and, in the process, pull down its own cement prices to just P100 per bag, or half of the current prices.

The company claims it has the cheapest cement price at P150 to P160 per 40 kilogram bag.

With the completion of the second line in Pampanga, Cruz said it now allows them to sell bulk cement, being used by ready mix concrete makers and precast firms, usually used in infrastruc-

Underwriter: AllHome IPO three times oversubscribed

D

EMAND for All Home Corp.’s shares was strong overseas and local institutional buyers as investors lined up for the year’s biggest initial public offering (IPO).

Gerry Valenciano, president of PNB Capital and Investment Corp., the lead local underwriter of the company’s maiden offering, said the shares for the international and institutional portion were three times oversubscribed, or more investors lined up to buy as against the amount of shares being sold.

“It left money on the table for investors because of its P11.50 price,” he said The said price was at the lower band of its price range of between P14 and P11.50 per share. It previously set the maximum price at P16.

At the current price, however, AllHome is set to raise P14.88 billion, still the biggest IPO for the year for a relatively unknown company that

was only established six years ago.

AllHome will offer 750 million new common shares along with 375 million existing common shares currently held by All Value Holdings Corp., which has the option to offer 168.75 million more shares. All Value is the private firm of the Villars that holds its retail ventures.

Of the total 1.12 billion firm shares, 70 percent was offered to international investors, as well as qualified domestic institutions.

For the domestic offer , 20 percent of 225 million shares will be offered through trading participants of the Philippine Stock Exchange, while 10 percent or 112.5 million shares will be offered through the local small investors program.

Ryan Tapia, president of colead domestic underwriter China Bank Capital Corp., said this is the fastest to be concluded at less than four months from its kickoff last June 17

to its listing on October 10.

AllHome is going public after just six years in the business and is already valued at P43 billion, he said.

The company’s offer shares represent 34.5 percent of its issued and outstanding capital stock, which will comprise a total of 3.75 billion shares after the maiden offering and assuming full exercise of the over-allotment option. AllHome’s IPO will run from September 30 to October 4 this year.

The company will use proceeds from the IPO for capital expenditures and initial working capital for store network expansion, debt repayment and general corporate purposes.

The company will also be starting a new retail format called AllBuilders, which will offer a selection of hardware, tiles and sanitary wares and construction materials targeting contractors and builders.

They intend to build six stores this semester. VG Cabuag

CLARK: LIVING THE DREAM The Board of Directors of Clark Development Corp. chaired by Jose “Ping” de Jesus recently led the

review of CDC’s Strategic Plans for the next few years. Joining him are Vice Chairman Benjamin Defensor; Directors Ana Liza Peralta, Nestor Villaroman, Jon Castro, Luisito Clavano, Ernesto de Vota, Manuel Gaerlan, Arturo Ortiz, CDC President Noel Manankil and members of management committee. The activity also presented the accomplishments of CDC as highlighted by the $6.1-billion exports, 122,973 jobs in 1,038 locators-firms as of end of 2018. CDC-PHOTO

ture projects such as bridges.

“We see a lot of potential in the market for bulk cement that is environment-friendly and guarantees a minimum strength of 40 MPa [megapascal],” he said.

“Highly industrialized countries like the United States and most countries in Europe use cement which are 40 MPa and above. allowing for more sturdy and durable buildings, houses, bridges and roads,” he said.

The company claims it is using cement manufacturing process called G-ASH (Grinded Activated Sand by Heating), which enables it to produce a binding material for concrete that does not use imported clinker, one of the main ingredients on all of the cement manufacturers.

“We are trying to change the rules of the game and we are confident that our product is a game changer. During a recent global cement conference I attended, we were able to establish that no other company in the world is doing what we are doing, which says a lot about Filipino ingenuity,” Cruz said.

Meralco, Hitachi set up 2-MW battery-energy storage system

T

HE Manila Electric Co. (Meralco) and Japanese multinational conglomerate Hitachi Ltd. have put up a 2-megawatt (MW) battery-energy storage system (BESS) in Bulacan.

“That’s a pilot. From a DU [distribution utility] perspective, we want to understand how battery-energy storage really works and how it will help the network,” said Meralco President Ray Espinosa.

“We’re grateful to Hitachi for providing us 2 MW of battery storage energy system that would acquaint our network engineers on how we can use this energy storage system as a way of stabilizing renewables,” he added.

Hitachi provided Meralco with 2,300 battery cells that can deliver 2 MW of power intermittently.

BESS’ are a subset of energy storage Systems that can store energy to be consumed at a later time.

“As you know, renewables are not that stable in a sense that they can fluctuate within the day, especially solar, so the storage system is very important to provide that stability.”

The Meralco official further described the BESS’ as “modular, movable and in 40 feet containers.”

Meralco and Hitachi inaugurated early this month the San Rafael Battery Energy Storage System in Bulacan. Lenie Lectura

B2

Companies BusinessMirror

Monday, September 30, 2019

PSE STOCK QUOTATIONS

September 27, 2019

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

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

55 143 91 25.05 12.1 66.9 12.8 44.3 57.35 119 26.75 196 59.05 1.12 2.01 18.5 5.16 1.2 0.43 755 0.93 179 1835

57.65 145 91.8 25.15 12.12 66.95 13 44.4 58.45 128 26.95 198 59.15 1.16 2.05 18.6 5.19 1.26 0.435 780 0.94 179.6 1855

54.05 146 91.5 25.2 12.12 67.4 12.8 44.4 57.3 136 26.95 197 59.05 1.13 2.06 18.6 5.19 1.25 0.435 755 0.95 179.6 1835

56.65 146 92.3 25.25 12.16 69.2 13 44.85 58.5 136 26.95 198.9 59.1 1.17 2.06 18.6 5.2 1.26 0.435 755 0.95 180 1835

54 141.1 91 25.05 12.04 66.85 12.8 44.4 57.3 129 26.95 197 59.05 1.12 2 18.6 5.14 1.2 0.435 755 0.95 179 1835

55 145 91.8 25.05 12.1 66.9 13 44.4 58.5 129 26.95 198 59.05 1.12 2 18.6 5.19 1.26 0.435 755 0.95 179 1835

1400 1316360 475630 75600 438100 2822310 24500 104300 5000 90 500 121280 35960 89000 18000 600 165700 77000 50000 500 1000 2810 15

75821.5 188688835 43636835 1895720 5297036 190613339.5 318294 4651000 290608 11680 13475 24007299 2123439 100790 36160 11160 857870 93110 21750 377500 950 504451 27525

-26498255 9634497.5 4300160 25521076.4999 -913360 5064558 -1809882.5 -

INDUSTRIAL ALSONS CONS 1.29 1.3 1.31 1.31 1.29 1.3 144000 187790 -82500 38.75 39.05 39.2 39.3 38.75 38.75 634400 24677970 -11938805 ABOITIZ POWER BASIC ENERGY 0.242 0.246 0.243 0.247 0.24 0.246 1110000 266990 24.55 24.6 24.2 24.8 24.2 24.6 1901200 46645975 -11507460 FIRST GEN FIRST PHIL HLDG 80.45 80.5 81.6 81.6 80.2 80.5 54170 4361437 68241 MERALCO 363 365.4 368.6 368.6 363 363 110350 40261120 -14233972 20.1 20.3 20.8 20.9 20.1 20.1 3595700 73715995 -32024635 MANILA WATER PETRON 5 5.05 4.99 5 4.98 5 2788000 13924990 -6773090 4.24 4.39 4.25 4.25 4.24 4.24 5000 21220 PETROENERGY PHINMA ENERGY 2.3 2.31 2.41 2.42 2.28 2.31 11968000 27935270 67560 PHX PETROLEUM 10.9 11 10.9 11 10.9 11 157100 1717390 32 32.1 33.35 33.35 32 32 497900 16,132,430( 10,583,605.0003) PILIPINAS SHELL SPC POWER 7.31 7.37 7.38 7.38 7.32 7.32 12000 88295 16.02 16.92 16.94 16.94 16.94 16.94 500 8470 VIVANT AGRINURTURE 15.7 16.1 16 16.16 15.7 16.1 766900 12162034 -371180 CNTRL AZUCARERA 18.1 19 19.1 19.1 19.1 19.1 1100 21010 14.1 14.18 14.02 14.1 14.02 14.1 5311300 74464760 59072 CENTURY FOOD DEL MONTE 5.85 5.9 5.9 5.9 5.9 5.9 3500 20650 8.92 8.95 8.99 9.06 8.92 8.95 635300 5697654 -155995 DNL INDUS EMPERADOR 7.07 7.08 7.04 7.08 7 7.08 4905700 34550939 -10589011 SMC FOODANDBEV 90.05 90.2 91.5 91.5 89.8 90.2 70280 6354580.5 -2005345 0.67 0.69 0.67 0.69 0.67 0.69 306000 205720 ALLIANCE SELECT GINEBRA 47.7 48 47 47.95 45.6 47.8 66700 3165410 2566910 220 220.2 221 221.4 219 220.2 1260580 277455338 79293564 JOLLIBEE MACAY HLDG 8.38 8.88 8.28 8.88 8.28 8.38 11500 98006 MAXS GROUP 13.28 13.38 13.6 13.6 13.24 13.38 358700 4805602 -542532 0.189 0.204 0.19 0.206 0.19 0.206 110000 21060 MG HLDG PEPSI COLA 1.72 1.73 1.93 1.95 1.71 1.72 31090000 55815140 235320 11.64 11.72 11.52 11.62 11.46 11.62 42900 494222 38202 SHAKEYS PIZZA ROXAS AND CO 1.85 1.89 1.87 1.92 1.83 1.85 862000 1622590 RFM CORP 5.08 5.14 5.14 5.14 5.05 5.1 255000 1300354 -1275004 157 157.5 158.1 158.3 154 157.5 1103880 172540629 -79000875 UNIV ROBINA VITARICH 1.1 1.11 1.16 1.17 1.08 1.1 10005000 11,100,410( 4,538,529.9998) 2.42 2.52 2.42 2.42 2.42 2.42 26000 62920 62920 VICTORIAS CONCRETE A 71.85 71.9 72 72 71.85 71.9 850 61166.5 CONCRETE B 77.1 79.5 79.95 79.95 77.1 77.1 2220 171240 2.63 2.64 2.7 2.7 2.61 2.63 1413000 3719160 -313080 CEMEX HLDG EAGLE CEMENT 15.72 15.76 15.76 15.78 15.7 15.72 4836000 75939136 75500684 10.88 10.9 11.04 11.12 10.86 10.9 267200 2,924,100( 1,096,515.9997) EEI CORP HOLCIM 14.12 14.3 14.3 14.3 14.12 14.3 108300 1547382 -383226 MEGAWIDE 18.46 18.48 18.46 19.32 18.32 18.48 913100 17,192,686( 4,984,204.0003) 10.46 10.5 10.38 10.8 10.3 10.5 40600 428510 PHINMA TKC METALS 1.07 1.09 1.1 1.11 1.06 1.09 230000 249100 1.21 1.22 1.24 1.24 1.19 1.21 1683000 2030260 VULCAN INDL CHEMPHIL 120 130 120 120 120 120 180 21600 CROWN ASIA 2.04 2.09 2.09 2.11 2.09 2.09 181000 380740 5.35 5.4 5.42 5.42 5.35 5.4 35700 192335 LMG CHEMICALS MABUHAY VINYL 3.22 3.49 3.54 3.54 3.54 3.54 1000 3540 5.2 5.34 5.22 5.34 5.2 5.34 20400 106284 PRYCE CORP CONCEPCION 31.5 31.8 30.5 31.8 30.5 31.5 34200 1074420 -942000 GREENERGY 2.54 2.55 2.53 2.57 2.48 2.55 9585000 24370340 2018190 8.05 8.25 8.33 8.33 8.16 8.16 11100 91205 INTEGRATED MICR IONICS 1.52 1.56 1.59 1.59 1.52 1.56 23000 35370 5.21 5.49 5.48 5.5 5.2 5.2 10600 57757 PANASONIC SFA SEMICON 1.01 1.03 1.05 1.08 0.99 1 2888000 2932360 40870 CIRTEK HLDG 9.2 9.25 9.98 10 9.11 9.2 1108300 10597895 515742

HOLDING & FRIMS

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

0.89 13.2 892 53.5 10.9 3.58 6.7 0.75 1.17 1.18 6.62 8.5 13.4 836 73.5 5.3 0.51 4.38 14.48 0.58 4.86 0.038 1.28 1.27 998 173.5 0.86 216.2 0.226 0.24

0.9 13.24 893 54 10.96 3.59 7 0.78 1.18 1.2 6.63 8.55 13.48 839 73.85 5.78 0.53 4.39 14.5 0.59 4.89 0.039 1.3 1.28 1000 175 0.89 228.8 0.228 0.255

0.97 13.36 905 54 11.3 3.57 6.78 0.77 1.19 1.16 6.66 8.69 13.4 841 75.5 5.79 0.53 4.4 14.7 0.6 4.95 0.038 1.31 1.27 1007 177 0.88 223.8 0.228 0.244

0.97 13.8 905 54.35 11.36 3.66 7 0.78 1.19 1.2 6.66 8.69 13.68 860 75.55 5.79 0.53 4.4 14.7 0.6 5 0.04 1.31 1.27 1007 177.1 0.89 225.6 0.228 0.255

0.88 13.22 888 53.5 10.74 3.57 6.78 0.75 1.15 1.15 6.62 8.41 13.4 836 73.5 5.79 0.5 4.39 14.48 0.58 4.82 0.038 1.28 1.27 995 173.4 0.86 216.2 0.228 0.24

0.89 13.22 893 53.5 10.9 3.59 7 0.78 1.17 1.2 6.62 8.5 13.6 836 73.5 5.79 0.53 4.39 14.5 0.59 4.89 0.039 1.3 1.27 1000 175 0.86 216.2 0.228 0.24

106257000 24600 345210 505330 15782500 6295000 21900 844000 1054000 87000 377900 9568200 4300 16850 1034370 300 130000 106000 473300 507000 12158000 2200000 130000 83000 180785 110760 132000 7470 50000 540000

95640120 328796 308258610 27163257.5 172444296 22765090 148504 638970 1222420 101290 2510149 81358829 57978 14136005 76324175 1737 66390 465800 6917212 298880 59583290 85600 167830 105410 180572390 19415277 115440 1635070 11400 130770

-4717960 -13360 -10817765 -8383588 -25089992 3346180 51749.9999 -1740151 -60386120 -6105130 -16789209.5 -338250 5075408 9201520 -65290220 -14447507 -17056 -20000

PROPERTY ARTHALAND CORP 0.87 0.9 0.88 0.9 0.86 0.9 4798000 4192620 -16910 49.25 49.3 49.6 49.65 49.2 49.3 12529100 618886150 61476840 AYALA LAND ARANETA PROP 1.91 1.94 1.96 1.96 1.91 1.91 22000 42170 36290 2.08 2.09 2.1 2.12 2.08 2.09 681000 1431910 -799330 BELLE CORP A BROWN 0.85 0.86 0.94 0.95 0.85 0.85 18724000 16775700 116240 CITYLAND DEVT 0.84 0.86 0.86 0.86 0.86 0.86 3000 2580 6.2 6.25 6.25 6.3 6.2 6.2 25900 161871 13796 CEBU HLDG CEB LANDMASTERS 4.75 4.77 4.82 4.83 4.74 4.75 1048000 4975850 -3384840 0.52 0.53 0.54 0.54 0.52 0.53 4084000 2160880 CENTURY PROP CYBER BAY 0.385 0.395 0.385 0.39 0.385 0.39 570000 222200 DOUBLEDRAGON 20.25 20.3 20.45 20.5 20.1 20.25 54000 1093155 569845 9.72 9.74 9.83 9.9 9.72 9.72 26300 257658 -158268 DM WENCESLAO EMPIRE EAST 0.445 0.45 0.445 0.455 0.445 0.45 1140000 513600 -163800 1.58 1.59 1.62 1.62 1.59 1.59 10587000 16899620 1651550 FILINVEST LAND GLOBAL ESTATE 1.2 1.21 1.2 1.21 1.2 1.2 272000 326690 8990 HLDG 15.04 15.08 15.1 15.1 15.04 15.04 220900 3322396 -374556 1.38 1.4 1.4 1.4 1.38 1.39 777000 1080100 14000 PHIL INFRADEV CITY AND LAND 0.71 0.75 0.72 0.75 0.71 0.75 68000 48810 14300 4.46 4.48 4.79 4.81 4.46 4.46 92220000 421145650 -163414060 MEGAWORLD 0.3 0.305 0.31 0.31 0.3 0.305 8550000 2607250 MRC ALLIED PHIL ESTATES 0.42 0.44 0.43 0.43 0.41 0.42 180000 75900 25200 2.03 2.05 2.04 2.05 2 2.05 186000 377790 PRIMEX CORP ROBINSONS LAND 24.05 24.4 24.5 24.5 24.05 24.05 1771900 42876390 -18895010 0.375 0.385 0.375 0.375 0.375 0.375 200000 75000 PHIL REALTY ROCKWELL 2.31 2.37 2.37 2.37 2.37 2.37 1000 2370 SHANG PROP 3.13 3.29 3.06 3.29 3.05 3.29 31000 96680 19740 2.52 2.57 2.43 2.57 2.4 2.57 2982000 7433000 -89640 STA LUCIA LAND SM PRIME HLDG 36.3 36.5 37.2 37.2 36.25 36.5 4168500 152458620 -1917745 5.78 5.82 5.7 5.86 5.7 5.82 55500 321226 VISTAMALLS SUNTRUST HOME 0.92 0.93 0.9 1.03 0.87 0.93 130824000 115574680 372610 VISTA LAND 7.7 7.73 7.7 7.75 7.67 7.73 3775800 29146772 -2373797

SERVICES ABS CBN 18.24 18.32 18.36 18.8 18.24 18.32 267300 4898140 5.22 5.24 5.24 5.25 5.2 5.24 159100 831400 GMA NETWORK MANILA BULLETIN 0.445 0.45 0.45 0.45 0.445 0.445 130000 58450 1835 1855 1868 1869 1833 1835 63215 116877750 39789840 GLOBE TELECOM PLDT 1125 1127 1130 1149 1127 1127 83115 94301065 26254390 APOLLO GLOBAL 0.046 0.047 0.047 0.047 0.046 0.047 5800000 272400 5.8 6.1 5.77 5.81 5.77 5.8 50100 290581 DFNN INC ISLAND INFO 0.111 0.113 0.111 0.115 0.111 0.113 960000 106640 4.97 4.98 5.1 5.13 4.96 4.97 1977800 9903244 359811 ISM COMM NOW CORP 2.87 2.88 2.95 2.95 2.85 2.87 3553000 10230500 242930 TRANSPACIFIC BR 0.325 0.335 0.335 0.34 0.325 0.325 2260000 747550 29700 3.03 3.04 3.02 3.05 3 3.03 285000 862030 -21220 PHILWEB 2GO GROUP 10.1 10.26 10.28 10.28 10.1 10.1 8800 89084 7 7.02 6.99 7.11 6.96 7 320100 2235298 -320620 CHELSEA CEBU AIR 92.55 93 92.45 93.6 92.25 93 152500 14195168 -4812887.5 INTL CONTAINER 122.5 122.6 127 127.1 122.1 122.5 3137290 388337368 -156925668 13.64 14.1 14.2 14.2 14.18 14.18 300 4258 LBC EXPRESS LORENZO SHIPPNG 0.9 0.92 0.9 0.9 0.9 0.9 740000 666000 18.96 19 19 19.04 18.9 19 156200 2966426 1330148 MACROASIA METROALLIANCE A 1.15 1.2 1.2 1.2 1.15 1.15 100000 117350 METROALLIANCE B 1.2 1.4 1.2 1.2 1.2 1.2 2000 2400 8 8.25 8.36 8.36 8 8 48300 386720 144000 PAL HLDG HARBOR STAR 1.59 1.6 1.63 1.64 1.6 1.6 251000 405250 1.7 1.71 1.69 1.7 1.67 1.7 101000 169210 ACESITE HOTEL BOULEVARD HLDG 0.055 0.056 0.055 0.056 0.055 0.055 3650000 202750 WATERFRONT 0.67 0.69 0.68 0.7 0.67 0.69 219000 147990 -34000 6.9 7.22 7.23 7.23 6.9 6.9 9800 67653 CENTRO ESCOLAR FAR EASTERN U 890.5 920 919 919 919 919 1050 964950 -964950 0.69 0.7 0.71 0.71 0.68 0.69 585000 405620 STI HLDG BERJAYA 2.29 2.37 2.3 2.39 2.29 2.37 72000 165430 BLOOMBERRY 11.28 11.3 11.5 11.72 11.22 11.3 2837300 32326168 1392204 2.79 2.8 2.79 2.84 2.66 2.8 70000 196200 -52910 PACIFIC ONLINE LEISURE AND RES 3.03 3.05 3.04 3.08 3.02 3.05 408000 1243700 802060 3.45 3.46 3.45 3.45 3.25 3.45 166000 564880 MANILA JOCKEY PH RESORTS GRP 4.8 5 5 5 4.8 5 22500 108658 PREMIUM LEISURE 0.71 0.72 0.73 0.74 0.71 0.71 2306000 1662610 2.36 2.37 2.4 2.42 2.36 2.36 410000 978220 -38240 METRO RETAIL PUREGOLD 40.3 40.4 41.6 42.65 40.25 40.4 148800 6047420 -1460020 78.2 79 78.95 79 78 79 15770 1244833.5 -322320 ROBINSONS RTL PHIL SEVEN CORP 140.2 142 142 142 140 140 12000 1681249 1674149 SSI GROUP 2.75 2.77 2.79 2.81 2.74 2.77 1024000 2834580 1497890 16.56 16.58 16.26 16.66 16.26 16.58 809500 13381010 7106960 WILCON DEPOT APC GROUP 0.63 0.64 0.69 0.69 0.62 0.63 43569000 28253720 -3398900 9.8 9.9 9.9 9.9 9.74 9.8 70800 692233 EASYCALL GOLDEN BRIA 423 434.8 425.2 435 423 434.8 410 175880 PRMIERE HORIZON 0.54 0.55 0.56 0.58 0.55 0.55 30445000 17171980 225970.0003 9.14 9.36 9.08 9.08 9.08 9.08 200 1816 SBS PHIL CORP

MINING & OIL APEX MINING 1.17 1.19 1.19 1.2 1.17 1.19 692000 815110 -41620 0.0016 0.0018 0.0017 0.0017 0.0017 0.0017 201000000 341700 ABRA MINING CENTURY PEAK 2.63 2.64 2.63 2.65 2.63 2.63 588000 1554420 -158360 1.67 1.68 1.75 1.77 1.66 1.67 5988000 10152850 772710 FERRONICKEL GEOGRACE 0.232 0.239 0.243 0.243 0.232 0.239 490000 115380 LEPANTO A 0.106 0.108 0.108 0.108 0.107 0.107 2820000 303050 0.107 0.11 0.106 0.11 0.106 0.11 470000 51000 LEPANTO B MARCVENTURES 1.11 1.15 1.12 1.16 1.11 1.11 213000 238500 1.08 1.12 1.13 1.17 1.08 1.12 469000 519160 NIHAO NICKEL ASIA 4.05 4.06 4.16 4.18 4.02 4.05 7150000 29239540 4132220 OMICO CORP 0.5 0.54 0.5 0.5 0.5 0.5 220000 110000 0.87 0.9 0.88 0.91 0.87 0.9 195000 171240 ORNTL PENINSULA PX MINING 3.78 3.8 3.83 3.9 3.78 3.78 527000 2002750 95140 22.05 22.1 22.4 22.5 22.05 22.05 431400 9572255 -6442350 SEMIRARA MINING ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 21700000 243900 ORNTL PETROL B 0.011 0.012 0.011 0.012 0.011 0.011 266800000 2935300 -2814300 0.01 0.012 0.011 0.012 0.01 0.012 59700000 606800 PHILODRILL PHINMA PETRO 8.83 8.85 9.03 9.03 8.8 8.83 392700 3470726 -65470 11.86 11.88 12.04 12.3 11.82 11.86 803300 9,653,658( 2,945,036.0002) PXP ENERGY

PREFFERED

AC PREF B2 504 507.5 505 505 505 505 60 30300 101 102 101.7 102 101.7 102 25400 2585828 DD PREF SMC FB PREF 2 995 997 997 997 995 995 3000 2987000 107.5 109.8 107.5 107.5 107.5 107.5 4000 430000 FGEN PREF G GLO PREF P 500 500.5 500 500.5 500 500 53000 26502490 GTCAP PREF A 994 998 994 994 994 994 1270 1262380 990 995 995 995 995 995 10 9950 GTCAP PREF B LR PREF 0.99 1 0.99 0.99 0.99 0.99 972000 962280 100.4 101.5 100.3 100.3 100.3 100.3 40 4012 MWIDE PREF PNX PREF 3B 108 109 109 109 109 109 2880 313920 PCOR PREF 2A 1000 1028 1000 1025 1000 1025 220 220500 1030 1060 1030 1030 1028 1030 420 432540 PCOR PREF 2B PCOR PREF 3A 1058 1060 1058 1060 1058 1058 2590 2741240 1081 1082 1081 1081 1081 1081 1600 1729600 PCOR PREF 3B SMC PREF 2C 77.95 78.25 77.95 78 77.95 78 45020 3510793 SMC PREF 2D 75.1 75.5 75.05 75.05 75.05 75.05 1200 90060 76 76.5 76.5 76.5 76.5 76.5 315310 24121215 SMC PREF 2F SMC PREF 2G 75.95 76 75.95 75.95 75.3 75.95 501300 37748735 75.6 76.6 75.6 75.6 75.6 75.6 50000 3780000 SMC PREF 2I PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

17.8 5.08

17.86 5.15

17.9 5.16

17.9 5.16

17.8 5.08

17.86 5.15

113000 2300

2018150 11856

WARRANTS LR WARRANT

1.52

-1620022 2584

1.59

1.56

1.56

1.5

1.52

124000

190520

-

ITALPINAS 6.85 KEPWEALTH 10.14 0.93 XURPAS

6.9 10.28 0.94

6.95 10.78 0.94

7 10.78 0.94

6.85 10.1 0.93

6.9 10.14 0.93

233800 328300 1493000

1613718 3416054 1391120

-307470 -3720

FIRST METRO ETF

117.5

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 117.2

118.3

118.3

117.2

117.2

5640

662620

11750

www.businessmirror.com.ph

SEC approves ₧1 billion IPO of ACE-Tacloban

T

HE Securities and Exchange Commission (SEC) has approved the P1-billion initial public offering (IPO) of Allied Care Experts (ACE) Medical Center-Tacloban Inc.

In its meeting on September 26, the SEC’s commission en banc approved the registration statement of ACE Medical Center-Tacloban, which will have a total of 228,000 common shares with par value of P1,000 apiece.

ACE Medical Center-Tacloban will have 36,000 common shares offered in four tranches at a price ranging from P200,000 to P400,000 for every block of 10 shares, in cash or installment. The shares will be

traded over the counter.

The company expects to net P987.88 million, proceeds of which will be used for loan payments, medical equipment, working capital, construction, furniture and fixtures, pre-operating expenses, and professional fees of architects and other professional.

The company is building a 10-story, 152-bed hospital in Barangay 78, Marasbaras, Tacloban City. The Level-2 hospital has a total floor area

of 14,026 square meters and is slated for completion by next month.

The intended market for the IPO are mostly medical specialists and individuals related to medical specialists.

Subscribing to the offer shares is a prerequisite for physicians and medical specialists to practice at ACE Medical Center-Tacloban. Such stockholders, however, must undergo a screening process and possess the minimum requirements provided in the company’s articles of incorporation, bylaws and internal rules.

Physicians looking to hold clinic at ACE Medical Center- Tacloban will have to pay a privilege to practice fee of P150,000. They will become part of the hospital’s active staff and be included in the decking/rotation of house and walk-in cases.

Meanwhile, physicians who will

not pay the one-time fee will become members of the visiting staff. They may admit patients but will not be allowed to hold clinic there. They will also be excluded from the decking/ rotation of house and walk-in cases.

The offer comes with benefits and privileges, such as discounts on medical and dental services, which the principal investor, the spouse, dependents and natural parents may avail themselves of in other medical facilities affiliated with the ACE Group of Hospitals.

The SEC earlier approved the IPOs of ACE Malolos Doctors, ACE Medical Center-Butuan, ACE Dumaguete Doctors, ACE Medical Center-Gensan and ACE Medical Center Bohol for P1 billion each. It also cleared similar offerings by ACE Medical Center-Cebu and ACE Medical Center-Iloilo. VG Cabuag

SBMA to foreclose Ocean Adventure marine theme park

S

UBIC BAY FREEPORT ZONE—The Subic Bay Metropolitan Authority (SBMA) is set to repossess the popular marine theme park Ocean Adventure and related facilities due to multiple contract violations and failure to fulfill development commitments.

SBMA Chairman and Administrator Wilma T. Eisma said the agency served a notice of pretermination of contract on Friday to the Subic Bay Marine Exploratorium Inc. (SBMEI), which operates the marine theme park complex under a lease agreement signed in 2007.

Besides failing to comply with its lease contract, the SBMEI also committed violations like illegal subleasing of property, constructing without permits, improper storing of waste and closing of public roads, the SBMA said.

The company also has arrears of about P25 million on its payment scheme, as well as P7 million on its current billing, SBMA records showed.

“This is actually sad news for us, because Ocean Adventure Park is the pioneer theme park in the Subic Freeport and is a hugely popular tourist destination. However, its multiple contract vio-

STOCK-MARKET OUTLOOK Last week

SHARE prices slid for the second straight week as the local equities market joined several other bourses in the region that posted losses.

The benchmark Philippine Stock Exchange index (PSEi) fell 51.89 points to close at 7,819.22 points, as value of trade was low.

During the week, the Central Bank cut interest rates by another 25 basis points and reduced the reserve ratio requirement of the banks by another 100 basis points to spur economic growth.

“The market should be rejoicing, but it had little to no reaction. This is proof the investors are not trading on fundamentals but on sentiment,” Christopher Mangun, research head at AAA Securities Inc., said.

The market was up for most of the week, but its gains were so little they were wiped out in one day.

Average daily trading for the week was at P5.5 billion, while foreign investors were net sellers at P1.94 billion.

“If foreign selling continues like this for another few weeks, the market will end with net outflows for the year,” Mangun said.

Most of the subindices went south, with the exception of the Financials index that gained 16.97 points to close at 1,803.55, and the Property index that rose 82.86 to 4,068.62.

The broader All Shares index lost 43.54 to 4,728.81, the Industrial index fell 382.22 to 10,556.72, the Holding Firms index was down 125.66 to 7,723.44, the Services index shed 44.82 to 1,544.02, and the Mining and Oil index plunged 406.63 to 8,968.40.

For the week, losers edged gainers 180 to 52, and 19 shares were unchanged.

Top gainers were BHI Holdings Inc., Makati Finance Corp., Roxas Holdings Inc., MJC Investments Corp. and Grand Plaza Hotel Corp.

Top losers, on the other hand, were Liberty Flour Mills Inc., Pepsi-Cola Products Philippines Inc., Phinma Energy Corp., Now Corp., Vitarich Corp. and Phinma Corp.

This week

SHARE prices may continue sliding during the week and analysts are now skeptical if the main index wil post gains for September, with Monday as the last trading day of the month and of the third quarter.

“With one more trading day for the third quarter, the main index is set to end with a loss of more than 2 percent even if we see a gain of more than half a percent on Monday which is highly unlikely,” Mangun said.

“Nothing seems to give investors optimism that the market could go higher. Investors are ignoring economic fundamentals and are more concerned with the general sentiment.

The main index has gone below its 200 moving average which is a clear sign that we will see more losses. Any recovery will be treated as a minor correction unless we see a massive pickup in buying volume.” he said.

For October, the market will see the initial public offering of Axelum Resources Corp. on October 7 and All Home Corp. by the end of the month, which investors hope will perk up the market.

Stock picks

BROKER Regina Capital and Development Corp. gave a buy recommendation on the stock of Universal Robina Corp. (URC) when its support price of between P158 and P156 per share holds.

“Following a strong one-day selldown last Wednesday, URC continued to fall albeit at a lesser magnitude. This is the stock’s fourth straight loss for the week and has pulled the stock back to its early May levels,” the broker said.

URC shares closed at P157.50 apiece last week.

Meanwhile, it gave a buy recommendation on the San Miguel Corp. as some profittaking ensued last week when it hit P180 per share.

“This also brought the stock to test immediate support of 177. Though the indicators are still bullish,” it said.

San Miguel closed last week at P175 per share. VG Cabuag

lations have been a long-festering problem that must be addressed now,” Eisma said.

She explained that the SBMA had notified SBMEI of its violations as early as July and provided guidance to cure the problems, but the company did not submit a satisfactory proposal to correct the violations.

“We wanted them to stay, of course, but there was not much concrete action from their side,” Eisma added. “So after months of negotiation and attempts to help SBMEI keep its lease, there is no longer any other recourse but to apply the law and

mutual funds

pre-terminate the company’s lease agreement.”

The SBMA official said SBMEI’s failure to deliver its development commitments not only constituted violations of its contract, “but also prejudiced the SBMA’s financial interest because it curtailed the agency’s earning potential.”

She added that even as the SBMA was willing to reconsider SBMEI’s decades-old breach of contract, the park operator along with two other locators came out with a story accusing the Subic agency of not adhering to “ease of doing business” law.

September 27, 2019

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

per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 254.68 3.18% -1.42% -0.61% 0.98% ATRAM Alpha Opportunity Fund, Inc. -a 1.5552 12.52% 3.6% 1.03% 7.94% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.9786 3.71% -2.26% -1.76% 1.94% Climbs Share Capital Equity Investment Fund Corp. -a 0.9506 7.55% n.a. n.a.

5.5% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8566 5.86% n.a. n.a.

4.37% First Metro Save and Learn Equity Fund,Inc. -a 5.4309 6.26% 0.31% -0.2% 2.99% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8687 6.13% -4.05% n.a.

3.82% MBG Equity Investment Fund, Inc. -a 116.76 0.56% n.a. n.a.

0.51% PAMI Equity Index Fund, Inc. -a 51.968 8.04% 0.63% n.a.

5.58% Philam Strategic Growth Fund, Inc. -a 540.01 7.83% -0.41% -0.36% 4.91% Philequity Dividend Yield Fund, Inc. -a 1.3041 6.18% 0.55% 0.78% 4% Philequity Fund, Inc. -a 38.41 7.13% 1.46% 0.69% 4.85% Philequity MSCI Philippine Index Fund, Inc. -a,3 1.031 n.a. n.a. n.a. n.a.

Philequity PSE Index Fund Inc. -a 5.2812 9.18% 1.41% 1.63% 6.5% Philippine Stock Index Fund Corp. -a 881.68 9.22% 1.3% 1.54% 6.43% Soldivo Strategic Growth Fund, Inc. -a 0.9133 9.75% 0.36% n.a.

6.2% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.2777 7.73% 1.08% 0.84% 5.39% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 1.0129 8.76% 1.23% n.a.

6.14% United Fund, Inc. -a 3.7057 8.37% 2.75% 2.02% 5.85% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c,2 118.1779 9.5% 2.06% 2.57% 6.71% ATRAM AsiaPlus Equity Fund, Inc. -b

$0.9508 -6.67% 1.21% -1.38% 2.34% Sun Life Prosperity World Voyager Fund, Inc. -a $1.2847 -1.8% 6.86% n.a.

16.24% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6349 0.04% -3.14% -3.13% -0.99% ATRAM Philippine Balanced Fund, Inc. -a 2.2915 4.97% -0.93% -0.16% 3.73% First Metro Save and Learn Balanced Fund Inc. -a 2.6558 6.66% 0.54% -1.5% 4.43% Grepalife Balanced Fund Corporation -a 1.3454 3.72% n.a. n.a.

3.15% NCM Mutual Fund of the Phils., Inc. -a 1.9591 7.8% 0.96% 0.98% 6.29% PAMI Horizon Fund, Inc. -a 3.7831 9.26% -0.25% 0.21% 7.19% Philam Fund, Inc. -a 16.9538 9.23% -0.17% 0.13% 6.58% 2.1423 5.39% 0.55% 1.12% 3.53% Solidaritas Fund, Inc. -a Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8793 7.78% 0.74% 0.66% 6.24% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,4 1.0176 n.a. n.a. n.a. n.a.

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,4 1.0065 n.a. n.a. n.a. n.a.

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,4 1.0038 n.a. n.a. n.a. n.a.

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9843 7.27% 0.37% -0.01% 6.79% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03843 9.77% 2.16% 2.4% 8.87% PAMI Asia Balanced Fund, Inc. -a $0.98 -0.07% 1.21% -0.75% 7.26% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.7461 1.45% 5.05% 2.93% 13.22% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.1127 3.55% 3.17% n.a.

10.17% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 354.28 3.76% 2.27% 2.29% 3.15% ATRAM Corporate Bond Fund, Inc. -a,1 1.9161 3.19% 0.17% 0.04% 3.06% Cocolife Fixed Income Fund, Inc. -a 3.0854 5.19% 5.32% 5.25% 3.67% Ekklesia Mutual Fund Inc. -a 2.2043 3.99% 1.25% 1.99% 3.53% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3338 5.24% 1.39% 1.55% 5.84% Grepalife Fixed Income Fund Corp. -a P 1.6079 2.19% -1.17% 0.29% 2.78% Philam Bond Fund, Inc. -a 4.2926 11.57% 0.58% 1.8% 9.51% Philequity Peso Bond Fund, Inc. -a 3.7441 7.97% 1.46% 1.63% 6.45% Soldivo Bond Fund, Inc. -a 0.9496 7.32% -0.29% n.a.

6.55% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0176 9.5% 2.05% 2.59% 9.1% Sun Life Prosperity GS Fund, Inc. -a

1.6712 9.23% 1.57% 2.15% 8.53% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $465.34 4.51% 1.84% 2.88% 3.78% ALFM Euro Bond Fund, Inc. -a Є220.35 3.41% 1.25% 1.54% 3.61% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2 7.03% 2.1% 2.54% 6.6% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 4.03% 0.92% n.a.

4.03% Grepalife Dollar Bond Fund Corp. -a $1.716 1.13% -2.01% 0.49% 1.53% PAMI Global Bond Fund, Inc -a $1.0989 6.86% -0.34% -1.09% 6.04% Philam Dollar Bond Fund, Inc. -a $2.4127 11.31% 1.75% 3.6% 11.14% Philequity Dollar Income Fund Inc. -a $0.0601151 5.71% 1.9% 2.08% 5.47% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1658 9.53% 0.93% 3% 10.23% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 124.67 4.09% 2.64% 2.08% 3.14% First Metro Save and Learn Money Market Fund, Inc. -a,5 1.0226 n.a. n.a. n.a. n.a.

Philam Managed Income Fund, Inc. -a 1.2381 5.56% 2.3% 1.43% 4.76% Sun Life Prosperity Money Market Fund, Inc. -a 1.255 3.89% 2.8% 2.19% 2.94% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0329 2.21% n.a. n.a.

1.67% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Adjusted due to cash dividend issuance last January 29, 2018. 2 - Adjusted due to stock dividend issuance last June 5, 2018. 3 Launch date is January 3, 2019.

4 - Launch date is January 28, 2019. 5 - Launch date is February 1, 2019. 6 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.).

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

www.businessmirror.com.ph

Banking&Finance

Perspectives

Automating the prediction

T

HE combination of automation and predictive analytics is creating new opportunities for banks to reinvent the customer experience and retain relevance.

Not so long ago, many banking pundits were heralding the extinction of the human bank employee.

Tellers would be replaced by bots. Digital-advisors would put financial advisors and product specialists out of work. Customer service centers would go dark as cloud-based chatbots took over the customer interaction.

Somewhat predictably, that sparked a flurry of new experimentation, investment and innovation within the financial services sector as banks, fintechs and service providers vied to beat each other to market with a new automation or bot.

Lessons were quickly learned. For example, both first-mover banks and fintechs found out that a “pure” digital-advisory model simply wasn’t viable; margins were too low, customer acquisition costs were too high and few customers (particularly high-net worth ones) were willing to turn their backs on their human financial advisor for a bot.

Banks (and those in other service industries) also found it impossible to turn the lights off on their customer service centers. Bots simply didn’t have the training or access to data they needed to convincingly replace humans (particularly when those interactions were governed by strict conduct rules).

Predicting a better experience

RATHER than taking the “all or nothing” route, many banks are now experimenting with how automation— tied to predictive analytics—can help their human employees become more strategic and their customers enjoy a better experience.

The signs are everywhere. The shift toward “next best offer” engines in product sales and financial management is perhaps the best example of this at work. Instead of blindly selling products based on generic customer segmentation models, these platforms leverage extensive customer data, machine learning and smart automation tools to allow agents and advisors to quickly guide their clients to solutions and products that suit their unique needs.

The more sophisticated engines go beyond this, scraping the entire ecosystem of customer data (both inside the organization and outside) to accurately predict when customers will need certain products and how they will want to engage with them. Instead of next best offer, they are moving to “next critical need.”

Everyone wins

THIS type of predictive augmented decision-making is cropping up everywhere. Inside the enterprise, many banks are starting to deploy bots that essentially predict the type of information their agents will need and then serve it up to them in a smart, user-friendly visualization.

At the customer level, predictive analytics and automations are being combined to deliver personal financial management tools aimed at helping customers make better financial decisions. Based on a user’s stated financial goals and leveraging application programming interfaces and visualizations, these tools are helping customers better predict—and then respond to—their future financial needs.

Some predictive engines are being used to deliver exciting insights, particularly around customer trends and future technologies. They are also being used for much more mundane, yet important tasks, such as automating the prediction of ATM downtime, branch utilization models and operational performance.

Beyond bots

OUR view is that the measured introduction of bots and automations is just the first step on the path to smarter, more predictive banking models and solutions. And while they won’t lead to the extinction of human employees, they will lead to a major shift in perspectives—from the historical to the predictive.

The impact of that shift will be massive. Currently, much of what a bank knows about its customers comes from, for example, things like credit histories, past account activity and recent life changes. Every decision is based on an understanding of what has happened in the past.

These trends toward greater use of automation and predictive analytics, however, suggests that interactions and processes will increasingly be based on what the customer is likely to want in the future. And that will require a very different approach to everything from customer relationship management and channel development through to technology investments and product design.

The excerpt was taken from the KPMG article “Automating the Prediction: Reshaping the banking experience.” © 2019 R.G. Manabat & Co., a Philippine partnership and a memberfirm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved. Printed in the Philippines For more information on KPMG in the Philippines, you may visit www. kpmg.com.ph.

BusinessMirror

Monday, September 30, 2019 B3

Higher road user tax seen to yield P89.4B in new revenue, up for House panel talks

T

By Jovee Marie N. dela Cruz

@joveemarie

HE House Committee on Ways and Means will start deliberating on Monday the proposal increasing the Motor Vehicle Road Users’ Tax (MVRUT), which is expected to generate P89.36B in additional government revenues in five years.

House Committee on Ways and Means Chairman Clemente S. Salceda said his House Bill 4695 is expected to yield additional government revenues of P8.12 billion in 2020, P9.62 billion in 2021, P10.57 billion in 2022, P28.44 billion in 2023 and P32.61 billion in 2024. These will directly go to the Universal Health Care and the Public Utility Vehicle Modernization Program.

Salceda said his committee is eyeing

to conduct three hearings before the bill gets approved at the panel level. Several stakeholders are expected to attend the deliberations to share their positions on the proposal. According to Salceda, the existing motor vehicles user’s charge rates have not been adjusted since 2004.

“The original proposal of the Department of Finance was a drastic shift to unitary rate but I opted to differ with their proposal,” he said.

Proposed rates Under the bill, the new proposed rates for passenger cars with gross vehicle weight (GVW) up to 1,600 kilograms (kg) are: P2,912 in 2020; P3,028 in 2021; and P3,056 in 2022.

The proposed new tax rates for passenger cars with GVW above 1,600 kg but not exceeding 2,300 kg are: P6,552 in 2020; P6,814 in 2021 and P6,876 in 2022, while for GVW above 2,300 kg will be P4,560 in 2020, P15,142 in 2021 and P15,280 in 2022.

For utility vehicles with GVW up to 2,700 kg, it will be at: P3,640 in 2020, P3,786 in 2021 and P3,820 in 2022.

For utility vehicles with GVW above 2,700 kg but not exceeding 4,500 kg, the new tax rates are: P3,640 in 2020, P3,786 in 2021 and P3,820 in 2022.

For sports utility vehicles with GVW up to 2,700 kg, the proposal are: P4,186 in 2020, P4,353 in 2021 and P4,393 in 2022.

For motorcycles without sidecar with engine displacement of 400cc and above,

the new tax rates are: P437 in 2020, P454 in 2021 and P458 in 2022.

For motorcycles with sidecar, the rates are: P546 in 2020, P568 in 2021 and P573 in 2022.

For buses with GVW up to 4,500 kg, the new tax rates are: P3,276 in 2020, P3,407 in 2021 and P3,438 in 2022.

For trucks with GVW above 4,500 kg, the new rates are: P3,276 in 2020, P3,407 in 2021 and P3,438 in 2022.

Lastly, for trailers with GVW above 4,500 kg, the new tax rates are: P0.44 per 100 kg of GVW in 2020, P0.45 per 100 kg of GVW in 2021, and P0.46 per 100 kg of GVW in 2022.

The measure said a P1.40 tax per kg of GVW will be imposed on all types of motor vehicles whether private, government or for hire motor vehicles including motorcyles with sidecar effective 2023.

The bill also said the road tax rates shall be increased by 5 percent annually effective January 2024.

PayMaya eyes Etiqa PHL open to insure less-privileged Filipinos 40-M user A base by 2023

F

INANCIAL technology (fintech) player PayMaya Philippines Inc. plans to boost its user base to 40 million users by 2023, the same year when it targets to hit the P1-trillion transaction volume mark for a single year.

Paolo Azzola, the company’s managing director, said his group will drive this exponential growth by attempting to shift consumer behavior from cash to noncash through the introduction of more use cases that will make PayMaya an integral part of the daily lives of Filipinos.

“We’re really focusing on how much volume the company drives because users are very important for us, but what’s important is how much of the users use our platform,” he said. “So we’re looking at a number within a similar timeframe of a trillion pesos to be process every single year.”

He did not divulge the current user base of the fintech platform, but said the volume of transactions that PayMaya handles today is at “several billion dollars” per year.

“What’s driving the trajectory is the fact that we have a very large focus on our consumer business, allowing people to send money, pay bills, buy airtime, buy online and shop face-to-face also,” Azzola said.

Currently, the PayMaya app affords users a digital wallet equipped with a digital prepaid card that they can use to pay for utility bills, credit-card bills, government services, and for other online transactions.

They may also use their digital wallets for remittance, and use their physical cards for offline retail transactions.

“All of that drives the consumer volumes but, at the same time, we’re very focused on providing enterprises with the top payments solutions in the entire country,” he explained.

For its consumer business, PayMaya equips merchants with either a QR code or a pointof-sale terminal for online-tooffline digital transactions.

“So when you buy something online, in 60-plus percent of cases, the payment processing mechanism that takes the money out of the consumer’s account to put into the merchant’s account is PayMaya’s,” Azzola said.

By the end of the year, PayMaya hopes to onboard roughly 80,000 merchant partners in its digital payments system.

Lorenz S. Marasigan

S part of its agenda to help in changing the perception of insurance, Etiqa Life and General Assurance Philippines Inc. plans to make insurance easier to distribute among the less-privileged Filipinos.

We’re looking into that, according to Etiqa Group CEO and Etiqa Philippines Chairman Kamaludin Bin Ahmad.

Bin Ahmad said he sees potential in the fact that almost “even the not so wealthy have access to some form of Internet or a smartphone.” He said Etiqa Philippines, formerly AsianLife and General Assurance (AlGA) Corp., hopes to tap into this potential in order to develop an easy and cheap microinsurance that anyone can have.

Through this, the Philippines subsidiary of Etiqa, can do their part in nation-building while, at the same time, establish their brand within the country.

After changing its corporate name from AlGA to Etiqa Philippines on June 19, the company began a rebranding campaign. It changed its logo and identity to Etiqa Philippines, aligning with its parent company’s main logo of Etiqa in Malaysia, Singapore and Indonesia. Etiqa is the insurance and takaful—cooperative system of reimbursement or repayment in case of loss—business of the Malaysian Banking group (Maybank).

Promise of quality

HEADQUARTED in Kuala Lumpur, Malaysia, Etiqa has a regional presence in Indonesia, Philippines, Cambodia and Singapore.

not have as big of a financial blow in the event of a tragedy, Bin Ahmad said.

Another mindset that Bin Ahmad noticed was that most people want to do other things first with their money, such as a phone or car upgrade, rather than invest in insurance.

He, however, believes the more someone sees all the potential threats that could happen to them, the more they are to see the value of insurance.

More than selling

bin Ahmad

It is one of the fastest-growing insurance companies in the Association of Southeast Asian Nations. Etiqa said its rebranding exercise is expected to strengthen the Group of Maybank’s brand equity in the Philippines.

According to Bin Ahmad, Etiqa isn’t just committed to delivering quality service, it is also committed to change people’s perception of insurance and to spread a culture of sincere, humanizing service across the world.

Bin Ahmad said there’s a misconception that getting insurance is only as one nears the end of his or her life.

“When Filipinos think of insurance, the things that come to their minds are ambulances, aging, turning 70 years old, like that.”

This is because most people tend to think that nothing bad could ever happen to them, he added.

“This leaves individuals unprepared when an accident or an unexpected tragedy occurs.”

With insurance, the people affected will

Bin Ahmad said Etiqa also plans to change the way insurance agents relate with customers.

Customers often walk into insurance companies being made to feel like the company is not concerned with their well-being, he said. For them, the company only wants to sell them something, which leads to them becoming reluctant to get insurance, Bin Ahmad added.

Etiqa’s approach to this is to change the way they talk to customers. They want customers to know that they are concerned about their well-being and offer honest deals.

Through this, Etiqa “makes the world a better place” for both their policyholders and those affected by the unforeseen events.

Along with a genuine concern for their clients, Etiqa also goes above and beyond for them, Bin Ahmad said. In cases where a spouse buys a policy without telling their family, Etiqa would actually inform them of the policy when something bad happens. In that way, the family is able to reap the benefits of insurance. Stephanie Joy Ching

B4 Monday, September 30, 2019

Claret High School Class of ‘ 79 homecoming

Conrad Manila bags Hotel Suite Asia Pacific 2019 award

E

STABLISHED to address the relentless growth of tourism in the country, SMHCC continues to enrich its legacy of enabling guests to experience luxury and genuine Filipino hospitality. One of its renowned 5-star properties, Conrad Manila was recently named the Hotel Suite Asia Pacific 2019 winner at the International Hotel and Property Awards for its majestic Presidential Suite. That seals SMHCC's pride and excellence further solidifying the strength of its brand portfolio.

SMHCC’s President Elizabeth T. Sy painstakingly ensures that only the best team would be behind the development of Conrad Manila’s Presidential Suite with Michael Fiebrich the perfect choice as interior architectas. Fiebrich is known to have designed the world’s most iconic properties and served demanding global clients.

An avid art enthusiast, Ms. Sy also commissioned former Cultural Center of the Philippines president Nestor Jardin, to curate art pieces, which include works of Filipino artists Sam Penaso, Nestor Vinluan, Jonathan Olazo, and Alain Hablo. The presence of this tasteful collection exudes Filipino luxury at its finest.

Fully supported by its parent company SM Prime Holdings, Inc., dubbed as one of the largest integrated property developers in Southeast Asia, SMHCC’s growth is unprecedented. Since its inception in 2008, the company has evolved significantly from 2 hotels and 1 convention center to 8 hotels and 5 convention centers.

With the recent feat, SMHCC is thus poised to make an imprint in the hospitality industry, guided by its mission to be the leading hotel and convention company in the Philippines.

SMHCC’s encouraging growth has propelled the company’s goal to double its portfolio throughout the country within

the next five years. It is geared towards becoming a brand powerhouse that ultimately seeks to create an indelible mark in the country’s tourism industry.

Currently, the SMHCC portfolio is comprised of eight (8) hotel properties with a combined inventory of 1,960 rooms and over 38,000 sqm. of leasable convention space. The list of properties under SMHCC includes Taal Vista Hotel, Pico Sands Hotel, Pico de Loro, Conrad Manila, Radisson Blu Cebu, Park Inn by Radisson Davao, Park Inn by Radisson Clark, Park Inn by Radisson Iloilo, Park Inn by Radisson North Edsa and the SMX Convention Center.

TeaM Energy turns over water system, other key community projects in Quezon Province

T

EAM Energy turns over water system, other key community projects in Quezon Province Vital projects aimed at addressing basic needs identified by their host communities were turned over in three barangays in Pagbilao, Quezon by TeaM Energy Corporation.

In Barangay Ibabang Palsabangon, one of the most populated barangays in this municipality, a water system was built by the energy firm in the barangay hall. A drilled well with electric pump and pressurized tank was constructed to address the water needs of more than 50 households in the area. The water system constructed by TeaM Energy complements the existing rain water collection facility that was previously in use in the barangay hall.

In Barangay Tukalan, TeaM Energy provided basic medical and disaster preparedness equipment such as hard hats, first aid kits, and emergency lights to the Barangay Risk Reduction Members and Volunteers of the Barangay Health Center (BHC). The members and volunteers are also currently undergoing training on disaster preparedness. The BHC serves as a primary

provider of basic health services and a force multiplier of the Municipal Health Office in the barangay. The BHC, together with the Barangay Hall, also serves as the center of disaster preparedness and response in the community.

Since majority of official gatherings are held in the covered courts of Barangay Bukal, two public comfort rooms were constructed by TeaM Energy in this barangay. These comfort rooms are complete with toilets, lighting, and water facilities. Senior Citizens of Barangay Bukal will benefit from these facilities since they hold regular meetings in the covered courts.

“These programs were implemented with the help of the respective barangay leaders. We worked closely with them in identifying key needs of their respective barangays. We are thankful for their partnership,” shares Greggy Romualdez, External Affairs Head of TeaM Energy. “The projects we recently implemented address the core needs of these communities like water, sanitation, and emergency preparedness.”

TeaM Energy is the single largest Japanese investment in the country with over 2,000 MW of installed generating capacity in Luzon. It operates two coal-fired power plants: the 735 MW Pagbilao Power Station in Quezon Province and the 1,200 MW Sual Power Station in Pangasinan. It also has a 50% stake in the 420 MW Pagbilao Unit 3 Power Project in Quezon, and a 20% stake in the Ilijan natural gas project in Batangas.

Atomtrans Tech Corp expands operations with new remittance service

O

NE of the many virtual currency exchanges (VCEs) in the Philippines, Atomtrans Tech Corp, launched its new remittance service in the country last September 11, 2019 at the Grand Hyatt Manila, Bonifacio Global City.

Established in 2017, Atomtrans Tech Corp is a financial service provider with offices across the globe, including a headquarters in Manila. As one of the world leaders in digital currency payments, Atomtrans Tech Corp has managed to sign on strategic cooperation agreements with various trusted firms like China UnionPay Electronic Payment Co., Ltd and UnionBank of the Philippines, and is also exclusively representing the Philippine-China remittance products.

Lion Lu, President of Atomtrans Tech Corp, formally opened the program through his short welcome speech followed by several keynote presentations from esteemed speakers such as Felix Xia, CEO of Atomtrans Tech Corp (Topic: Philippine

Payment Market Big Data Report), William Liu, COO of Atomtrans Tech Corp (Topic: Crypto Payment Solution), and Tsuyoshi Ri, President of Netstars (Topic: Asian Payment Solution).

After the contract signing between Atomtrans Tech Corp and Unionbank as well as Atomtrans Tech Corp and LBC, topics on Philipine Overseas Payment Conference and Licensed Exchange - The Future of Cryptocurrency were also discussed.

Atomtrans Tech Corp currently operates ATC Payment, ATC Digital Currency Exchange, and has recently been approved by the Bangko Sentral ng Pilipinas (BSP) to extend its business to the crypto-industry with ATC Remittance. With a fairly sizable expat population, mostly Koreans, Chinese and Japanese, the leading provider finds a great opportunity for cross-pollination when it comes to financial technologies and payment systems.

Visit rem.atcc.pro for more details.

M

EMBERS of the Claret High School Class of 1979 returns to their Alma Mater on October 5, 2019 to celebrate 40 years of Claretian brotherhood.

Homecoming starts at 4:00 pm at the Claret School Quezon City campus

followed by a 6:00 p.m. anniversary mass.

Dinner-fellowship is at Microtel Hotel, Commonwealth Ave, QC at 7:30 pm onwards.

Keeping the Claretian spirit alive!

For details please contact Ferdie Sibal at +639209227326.

FORTUNE LIFERS display gloved hands holding up three and five fingers for coming 35th anniversary of Fortune Life Insurance. In solo photo, a La Mesa park forester gives tips on the planting of seedlings.

Security Bank named Best Bank and Best SME Bank in the Philippines

A

LPHA Southeast Asia, one of the leading regional financial capital markets magazines, recently awarded the best financial institutions in the region. Security Bank Corporation, one of the country’s top lenders, received twin citations: Best Bank and Best SME Bank in the Philippines.

SBC President & CEO Sanjiv Vohra received the awards during the 13th Annual Alpha Southeast Asia Awards 2019. The awarding ceremony was held on September 17, 2019 at Jurong Ballroom of the Shangri-La Hotel in Singapore.

Alpha Southeast Asia was established in 2007 and is the first and only institutional investment magazine focused on Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam).

SECURITY BANK President & CEO Sanjiv Vohra with Alpha Southeast Asia CEO/Publisher Siddiq Bazarwala

Sports

Worlds in jeopardy for Nigerians over entry form mix-up

BusinessMirror

D

C1

OHA, Qatar—Two Nigerian medal contenders are in jeopardy of being booted from world championships because their federation entered them in events they never planned to run.

The Nigerian Athletics Federation entered NCAA champion Divine Oduduru and 2013 200-meter bronze medalist Blessing Okagbare in the 100 meters even though neither planned to run that distance this week in Doha. When they didn’t show up for that event, the International Association of Athletics Federations (IAAF) disqualified them from the rest of the meet, including the 200- and 4x100-m relay, which both were hoping to run.

In an interview with The Associated Press, Okagbare said an appeal to IAAF was in the works and that Federation President Sebastian Coe had called her and told her the case was being reviewed.

“He told me he understood what was going on, and to get some sleep,” Okagbare said. “My hope is that they get the appeal on time.”

If the appeal is accepted, Oduduru would run in the 200-meter heats set for Sunday and Okagbare would run Monday.

IAAF rules state that, unless they’re injured or sick, athletes who withdraw after a certain deadline become ineligible for the rest of the championships.

Okagbare said both she and Oduduru repeatedly told the Nigerian federation that they had no plans to run in the 100.

“It’s not the first time they’ve done a thing like this,” she said. “They deal with the African Games and national championships, but this is not Africa. We’re not running at national championships. People here take the rules seriously and we keep bending them. It’s wrong. It’s incompetency.

I feel like they’re wasting my world championships. I don’t know how many more I have. I’m 30.”

Officials at the Nigerian Athletics Federation did not immediately respond to e-mails sent by AP. AP

| Monday, September 30, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Christian Coleman (left) beats US teammate Justin Gatlin to the finish line to win the men’s 100-meter race. AP

HAMMER TIME FOR PRICE

Deanna Price, a former softball standout who crossed to athletics to stay in shape, drapes herself with the US flag after winning women’s hammer throw gold medal. It is the US’s first gold in the event. AP

By Eddie Pells

The Associated Press

D

OHA, Qatar—Everyone knew exactly where to find Christian Coleman this time.

The sprinter who faced a suspension because he couldn’t be located for drug testing burst out of the blocks Saturday night and powered to the early lead in track’s marquee event.

He got stronger from there, blowing away the seven other entrants in the 100-meter worldchampionship title race and leaving little doubt about who will be chased, and who will do the chasing, in a reworked track landscape without the retired Usain Bolt.

Coleman’s time, 9.76 seconds, might not have turned many heads, but this should: He beat Justin Gatlin to the line by .13 seconds—an entire body length. That marked the biggest blowout in a 100-meter race at worlds or the

CENTURY BLOWOUT AT WORLDS

Olympics since 2011.

“This is something I’ll never take for granted,” Coleman said. “The opportunity to come out here and compete. And then to be crowned world champion?”

But Coleman’s breakout night had few similarities to any that Bolt dominated over his 10 years of record-setting, reggae-fueled fun.

Even on the races everyone knew he’d win, Bolt brought the entertainment—and some drama—taking forever to unfurl his 6-foot-5 frame from the blocks, then working the first 50 meters to grab the lead, then leaving everyone hanging at the end to see what that clock might say.

Coleman, on the other hand, never trailed—the legs on his muscle-bound, 5-foot-9 frame pumping like pistons from start to finish.

The differences on the second evening at the air-conditioned track in Doha weren’t restricted to the men’s 100.

Earlier, Jamaica earned its first gold medal of the championship. Not in its traditional sprints, but in the long jump, courtesy of Tajay Gayle, who won the country’s first world championship medal in a field event.

The Netherlands, home of speed skating and sprinter Dafne Schippers, took home its first 10,000-meter gold on the shoes of Ethiopian-born Sifan Hassan, who is making a smooth transition from middle distance to the long races.

And the United States found a surprising, maybe

Defending champion Semenya sidelined in Doha N

EW YORK—Defending 800-meter champion Caster Semenya has dominated her event like no other female athlete in track over the past 10 years, winning two Olympic golds and three world championships.

A world title will be handed out Monday night without Semenya, still in her prime and still the favorite to win every race she enters.

The 28-year-old South African is missing the world championships in Qatar as she fights the International Association of Athletics Federations’ (IAAF) latest version of a regulation that forces XY DSD women to lower their level of natural testosterone.

Even many competitors say the prestige of the race is lowered without Semenya.

Madeleine Pape of Australia competed in the 800 against Semenya at the 2009 World Championships. After an 18-year-old Semenya won the world title, the IAAF kept her sidelined for nearly a year for “gender verification” tests.

Pape wondered about Semenya’s fast times and physique, but now realizes testosterone is not the only factor that makes a champion.

“The playing field is never level,” she said. “There will always be standout performers and athletes who struggle to be competitive. The exclusion of Semenya instead gives us an incomplete event. The IAAF is being motivated by their fears and assumptions about XY women with high testosterone.”

Semenya is joined on the sideline by 800 Olympic silver medalist Francine Niyonsaba of Burundi.

“The top 2 seeds before worlds aren’t here. It definitely opens things up,” said Ajee Wilson, the US runner who is the strongest contender for the gold.

Wilson finished second to Semenya at the Prefontaine Classic on June 30. That’s when Semenya was temporarily allowed to race this summer. Afterward Wilson said, “everybody should be allowed to participate” and Semenya “should be able to do what she loves.”

IAAF President Sebastian Coe, recently reelected to another four-year term, says the regulations are necessary and weren’t meant to exclude people.

“When you’re the best in the world, people become obsessed,” Semenya said recently in a video interview with The Guardian.

“We’re all different.”

Of her high testosterone, Semenya says “so what?”

She is joined by experts who say the IAAF hasn’t

proven that what the organization considers intersex athletes have a significant advantage.

The IAAF regulations apply only to female middledistance runners with the 46 XY Difference of Sex Development condition, requiring them to lower their testosterone below 5 nanomoles per liter of blood. They’d need to take birth control pills or hormone shots to compete in international events.

The track and field governing body has stressed the need for an “even playing field.”

However, the key research the IAAF relied upon was conducted by IAAF-aligned experts rather than independent scientists, studied female athletes with high testosterone but not intersex athletes and used data with a “huge amount” of errors, according to Roger Pielke Jr., an expert witness on scientific integrity for Semenya at the Court of Arbitration for Sport (CAS) in February.

“The IAAF has placed itself into the position of second-guessing the biology of certain women who have been female since birth,” Pielke said. “Hubris doesn’t begin to describe this attitude.”

Previously, the IAAF lost its CAS case in 2015 after Indian sprinter Dutee Chand challenged a testosterone limit below 10 nanos for all female track athletes. Those arbitrators ruled 2-1 there wasn’t enough scientific evidence that testosterone provided a significant advantage. AP

MANY competitors say the prestige of the race is lowered without Caster Semenya. AP

GOLD STANDARD

Jamaica’s Shelly-Ann FraserPryce, she with the golden hair, walks on the track after winning a women’s 100-meter race heat. AP

shocking, gold medal in one of the very few spots it hasn’t dominated at some point in track and field’s long history— women’s hammer throw. It came courtesy of a softball player-turned-throwing star named DeAnna Price whose first experience hurling that big piece of metal resulted in her getting bonked in the head.

“I remember literally dropping it and saying, ‘I’m never doing this again,’” she said.

Could anyone have blamed Coleman for thinking the same five weeks ago when his name started showing up in the headlines?

The leak of information about his troubles with the US Anti-Doping Agency opened up a spigot of allegations and recriminations that followed him to Doha and could stay with him on the road to next year’s Tokyo Olympics.

“It’s pretty disturbing to know people out there say things and they don’t know me personally at all,” Coleman said. “But at this point, I’m over it.”

His case involved three “whereabouts failures” that occurred between June 6, 2018, and April 26, 2019.

Three failures in a 12-month span can trigger an anti-doping violation.

But the rules are technical, and there’s a difference between not being where you say you’re going to be and simply failing to update the app that tells authorities where you can be found. Because of those details, Coleman’s first violation was backdated to April 1, 2018—the start of the three-month period at which the original information is supposed to be inputted. That took his first violation out of the 12-month window and compelled Usada to drop the case.

It allowed Coleman to race here in Doha, but couldn’t strip away the words “Coleman” and “Doping” that appeared in headlines worldwide.

Coleman, who has been subject to more than 20 doping tests over the past two years and never been hit with a positive, posted a long YouTube video to explain the situation. He came to Doha thinking that would calm things down. It hasn’t, and at this point—with the 200-meter qualifying starting Sunday and relays on his plate later next week—he’s done trying.

“I’m not spending much time trying to explain things to people who aren’t interested in the truth,” he said.

Best, perhaps, to let his running do the talking.

With Tokyo a mere 10 months away, Gatlin, who came in as defending champion, bronze medalist Andre de Grasse and Yohan Blake of Jamaica found out just how much room they have to make up.

When did Coleman know he had it wrapped up?

“From the start,” he said. “I got up on top of everybody.... I knew that if I was being patient, the end would take care of itself.”

At the end, Coleman let out a primal scream, then pounded his chest twice and jogged a half-circle around the track, shouting into the stands. He blew a couple of kisses toward the heavens and kneeled for a brief second.

The half-full, 40,000-seat stadium was emptying. It was a far cry from the Bolt celebrations, all infused with reggae music, Jamaican flags, plenty of preening, picture-taking and the bow-and-arrow pose.

“There are so many people doing really good things right now,” Coleman said. “Everyone should be celebrated. It doesn’t have to be one face. I’m happy to part of that group.”

Fair enough. But on the first big night of track without Bolt, Coleman found himself separated from that group, not running with it.

C2

Spo

Business

Monday, September 30, 2019

‘WE WANT MORE’ T

an organization. I think there are many bright spots with our team, whether it’s our veteran players, whether it’s our players coming up, and the younger group we’re developing.”

Still, even Ujiri couldn’t fail to notice what had changed around him since the start of training camp last year, when he sat at the podium in front of a packed crowd, flanked by newcomers Leonard and Green. This year, Ujiri was on stage all by himself.

“I’m lonely,” he joked.

One thing hasn’t changed: the Raptors still have talent. Lowry, Toronto’s longesttenured player, has been an All-Star for five straight seasons. Siakam is poised to take another step after running away

MARC GASOL: We are hungry. AP

with the league’s Most Improved Player award last season, while Gasol, veteran Serge Ibaka, and youngster OG Anunoby round out an imposing frontcourt.

“I think guys are going to step up, I think guys are up for the challenge,” Ujiri said.

The ultra-competitive Lowry certainly is. His expectation this season? Another title.

“It’s always the same goal for me,” Lowry said. “I’m more motivated than ever.” AP

ORONTO—Kawhi Leonard has moved on and Danny Green is gone, but the Toronto Raptors still have a National Basketball Association (NBA) title to defend.

This season, a group led by All-Star guard Kyle Lowry, breakout talent Pascal Siakam and defensive standout Marc Gasol is turning “We the North” into “We Want More.”

“If I had to express it in one word, I would say ‘hungry,’” Gasol said Saturday when asked what he expects of the new look Raptors. “I think it’s a very hungry team. We all understand what Kawhi meant to the team and how well he played in the playoffs.

But we also understand how good we can

be as a team, and we’re all going to invest everything in it to be that team.”

Leonard signed a free-agent deal with the Los Angeles Clippers after leading Toronto to six-game NBA Finals victory over Golden State in his lone season north of the border. Once Leonard passed on returning to the Raptors, Green did the same, signing with the Los Angeles Lakers.

General Manager Masai Ujiri, who traded franchise icon DeMar DeRozan to San Antonio to acquire Leonard and Green, insisted he had no reason to be upset with the way his big move worked out.

“That’s just the nature of the business,” Ujiri said. “We understand it and we move on as

E

James, Davis bond early at Lakers

QUEEN OF THE WORLD

Lakers’ roster was thoroughly revamped in the off-season, and General Manager Rob Pelinka constantly consulted with James and Davis via three-way phone calls and text chains.

“I think the front office did a great job of including LeBron and myself in the decisions to build this team,” Davis said. “Every guy that is on this team, me and LeBron had a say-so in, and I think that’s very important. It would be pretty weird to go to war with a guy you don’t really like, so they made sure to include us in every decision.”

They also defeated the Monstars together, at least presumably: James spent part of his summer starring in Space Jam 2 for Warner Bros., and he roped in Davis to play a part in the film coming out next year.

Unlike his media mogul teammate, Davis chuckled and said his role in the sequel is “a one-time thing. That was very time-consuming.

At least right now, I don’t see any more movies in my near future, but it was a fun experience.”

James was the star of that show, but he doesn’t care about being the unquestioned star of

ARROGATE, England—Dutch cyclist Annemiek van Vleuten rode alone for more than 100 kilometers to win the women’s elite race at the Road World Championships on Saturday.

Van Vleuten attacked on a climb around a third of the way through the 149-km route in Yorkshire and kept the chasing pack comfortably at bay to claim her first world road race title, having been world time trial champion in 2017 and 2018.

Compatriot Anna van der Breggen pulled clear late in the race to win silver, while Australia’s Amanda Spratt took bronze.

There was no fairy-tale for Britain’s Lizzie Deignan, who led the peloton through her northern England home town of Otley in Yorkshire early in the day but paid the price for her hard work leading the chase and finished in 31st. AP

L SEGUNDO, California—From the Warner Bros. soundstages to a private workout retreat in Las Vegas, LeBron James and Anthony Davis spent a whole lot of their long summer together.

The Los Angeles Lakers superstars say they’ve already formed a bond before they hit the court as teammates. That off-season work is the foundation for their efforts to build an immediate contender together with this longstruggling franchise.

When the Lakers reported to their training complex Friday, LeBron and Davis were the center of attention amid the revamped roster they helped to create. They posed for photos, joked easily with themselves and their teammates, and generally looked like they’ve been together for years.

“It’s exciting to have such a beautiful young mind, a beautiful player, but also a great leader as well,” James said. “I think it’s a great opportunity for this franchise to have such an all-around great person. The basketball will speak for itself.”

Although Davis has one year left on his contract before free agency, the Lakers left no doubt they’re planning for a long-term future with the vaunted big man and his decorated new teammate. The

the Lakers. In fact, James declared his hope that the Lakers’ offense will run through Davis, who is averaging 23.7 points per game over his seven-year National Basketball Association career.

“We all know how great Anthony Davis is, and if we’re not playing through Anthony Davis, why is he on the floor then?” James asked. “It makes no sense to have him on the floor, because he’s that great. That doesn’t mean every time down the floor we throw it to him, but we have the ability to do that.”

When he wasn’t dunking on cartoons, Davis also played a role in recruiting players to Los Angeles and persuading others to stay with the franchise he had just joined. The Lakers added sharpshooting veterans Danny Green, Jared Dudley and Troy Daniels in a bid to get the valuable spacing that will make the superstars more effective.

“I just told guys we definitely have the opportunity to do something special here this year,” Davis said. “All you can ask for is a chance in this league, and we definitely have a chance to do something special.” AP

H

Dutch Annemiek van Vleuten wins the world championships women’s elite race. AP

orts

sMirror

Monday, September 30, 2019 C3

LASCUñA TOPS IN TAIWAN

Highlands Ladies golf to benefit Sisters of Mary

T

he Highlands Ladies Cup unfolding on Saturday will not only be a tournament among country’s top golfing ladies and their guests from various sectors but also a fund-raiser for the Sisters of Mary boys and girls town center in Silang, Cavite.

The organizing Tagaytay Highlands Ladies Chapter has been assisting the orphanage, where kids are fed and educated to be employed, the last few years by way of allotting part of the proceeds for the center as part of its social commitment to help the underprivileged youth fulfill their dreams.

More than 150 players are seeing action in the annual 18-hole tournament, backed by DIA BAM Inc., W Group, Auto Nation Group and Pacific Online as Diamond sponsors, which will have a shotgun start and will be played under the System 36 scoring format.

Aside from the centerpiece ladies division, other titles to be disputed are the men’s Classes A, B, C and seniors category, of the event supported by Platinum sponsors Security Bank, Smart Communications Inc., ComWorks-Martin Leyeza, Powerball Gaming and San Miguel Corp., and Gold sponsors IMG and Fitness First.

Registration is ongoing with fee pegged at P3,500 for members and P4,500 for nonmembers, inclusive of green fee, cart, lunch, giveaways and raffle stub. For details, call Midlands Golf Services at 0917-8865226 (members) and Analaine Blas at 0966-7135199 (nonmembers).

T

ony Lascuña came through with two big shots to fend off two gutsy Thai rivals and withstand a charging Taiwanese in a flight ahead, winning the Nan Pao Professional Golfers Association of Taiwan (TPGA) Open crown by one with a bogey-free 70 at the Nan Pao Golf Club in Tainan, Taiwan, on Sunday.

Those bailout shots bucked the Filipino ace’s errant driving in the last two holes that made the title chase a lot more interesting and gripping as these gave Ratchapol Jantavara and Liu Yu-Jui a share of the lead at 17-under overall, and a crack at the crown that was remained up for grabs until the final putt.

But Lascuña proved steadier in the end, coming through with a near-perfect lob shot from 45 yards on No. 17 after hooking his drive near the hazard to salvage a tap-in par, a brilliant save that somehow shattered Jantavara’s confidence as the Thai, who fought back from two strokes down to force a tie with a four-under card after 10 holes, flubbed a 4-footer for par to drop back by one.

Another hooked Lascuña drive on the par-five 18th that rolled under a tree gave the long-hitting Thai—and Liu,

Barbers to hit ceremonial tee for Plaridel Cup

R

ep. Robert Ace Barbers (Second District, Surigao del Norte) will lead the ceremonial tee off of the Fifth Plaridel Golf Cup on Friday at the Camp Aguinaldo Golf Club in Quezon City.

Also invited to the ceremonial tee off is Rep. Juan Fidel Felipe Nograles (Second District, Rizal).

Tee-off time is 7 a.m.

The Plaridel Golf Cup is the annual sports project of the Association of Philippine Journalists–Samahang Plaridel Foundation Inc., the professional group of veteran journalists, publishers, editors in chief and communicators that promotes high ethical standards among local media, according to the high professional standards of Marcelo H. del Pilar.

The association is led by Chairman Crispulo “Jun” Icban (publisher, Manila Bulletin) and President Rolando Estabillo (publisher, Manila Standard).

This year’s principal sponsor is First Orient International Ventures Corp. The 18-hole tournament seeks to foster camaraderie among golfing media men and their friends. It also aims to raise funds for Samahang Plaridel projects.

Other corporate sponsors are Cebu Pacific Air, Sogo Hotel, AyalaLand, Steel Asia, Globe, Philippine Amusement and Gaming Corp., Reyes Haircutters, ABS-CBN, GMA7, Doña Maria, Manila Water, City of Dreams, Sen. Cynthia Villar and Asia Brewery.

Golfers from corporate sponsors and other companies are welcome to join the tournament.

Registration is still ongoing. Interested golfers may contact Samahang Plaridel through Nelly Lumbaca at mobile no. 0920-9286498 or e-mail her at apjsamahangplaridel@gmail.com.

TONY LASCUñA escapes with a one-stroke victory.

T

SEA GAMES BOUND

The Standard Insurance national duathlon team sweeps the men’s elite division of the Everly Putrajaya Trifactor International Duathlon held in Kuala Lumpur, Malaysia, recently. Emmanuel Commendador places first, followed by Joey de los Reyes at second and Jarwyn Banatao at third. The team has been training at the New Clark City Sports Complex under Triathlon Association of the Philippines Coaches Melvin Fausto and Bernie Llantada. The team will represent the Philippines in the 30th Southeast Asian Games in December at the Subic Bay Freeport.

Petron faces Generika gals

P

etron continues its redemption trek when it clashes with dangerous Generika-Ayala in the Philippine Superliga Invitational Conference on Monday at the Filoil Flying V Centre in San Juan.

Action starts at 6 p.m. with the Blaze Spikers expected to go all out following a morale-boosting win over F2 Logistics in their weekend match at the Ynares Sports Center in Pasig City.

The Cargo Movers, meanwhile, seek a bounce back win when they clash with Marinerang Pilipina at 4 p.m. while Foton hunts its first victory when it faces PLDT at 2 p.m.

After bombing out in the semifinals in the All-

By Ramon Rafael Bonilla

A

Mission, Philippine Sports Commission Chairman William Ramirez; Phisgoc Chairman, House Speaker Alan Peter Cayetano; and Philippine Olympic Committee President Rep. Abraham Tolentino will receive the torch from officials of the Malaysian Olympic Committee.

PSC Commissioners Celia Kiram and Arnold Agustin, Ramirez’s deputy chiefs of mission, and POC Chairman Steve Hontiveros and SecretaryGeneral Atty. Ed Gastanes are also expected at the ceremony.

“The flame handover is an important symbolic ceremony showing the turnover of responsibilities from past host to present,” Phisgoc Ceremonies Director Mike Aguilar said.

Aguilar said Torch Run activities will be held

Filipino Conference last month, the Blaze Spikers opened the Invitationals with fire in their eyes.

Star middle blocker Mika Reyes and setter Rhea Dimaculangan were not there because of injuries, but Petron managed to draw strength and firepower from Sisi Rondina and Aiza MaizoPontillas to pull off a 25-22, 25-23, 25-18 victory over bitter rival F2 Logistics.

Rondina fired 17 points while Maizo-Pontillas delivered 14 for the Blaze Spikers, who are looking to book a return flight to the finals of the tournament that was cut short to give way for the country’s hosting of the 30th Southeast Asian Games in November.

pars in the last two holes.”

He did—to the delight of the local gallery that rooted for the amiable Davaoeño shotmaker all day but to the chagrin of the Thais, who had hoped to sweep the two PGT Asia legs here after Wisut Artjanawat topped the Daan TPGA Open in Taichung last May. Worse, Jantavara’s bogey-bogey finish for a 70 also enabled Liu, who shared the halfway lead with Lascuña and compatriot Lee ChoChuan, and joined the Filipino and Jantavara in the lead again with a five-under card after 13 holes, to snatch solo second at 272 in the event backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High.

Jantavara, who topped the PGT Asia Qualifying Tournament at Luisita last April, instead dropped to joint third at 273 with fellow Thai Sattaya Supupramai, who also pulled within one with a birdie on No. 16 but bogeyed the last for a 69, and Taiwanese Hsieh Tung-Hung, who rebounded with a 65.

Sung Mao-Chang, who placed second to rallied with a 68 for joint eight with compatriots Chen Po Hao (65), Lien Lu-Sen (68), Lien LuSen (68) and Wang Jen Li (69) and first day leader Lein Benjamin of the US (66).

BLUE EAGLES UNSCATHED

SYMBOLIC SEA GAMES TORCH HANDOVER CEREMONY IN K.L.

HE Philippine hosting of the 30th Southeast Asian Games shifts to high gear with the formal Torch Handover Ceremony set on Thursday in Malaysia.

The event, set at Bukit Jalil National Stadium in Kuala Lumpur—host of the previous Games in 2017, will be highlighted by the lighting of the Philippine lantern signaling the countdown to the opening of the Games on November 30 at the Philippine Arena in Bulacan.

The Philippine SEA Games Organizing Committee (Phisgoc) ceremonies and cultural events department organized the ceremony that is part of a series of events focused on the symbolic SEA Games Torch and Flame.

Officials from Team Philippines led by Chef de

who closed out with a 68 ahead of the final group—another shot at the lead. But Lascuña pulled off another spectacular shot—drawing a 9-iron shot from 120 yards that rolled from the front of the green to the right edge then raised his arms in triumph after completing a two-putt par in the $100,000 event which served as the fifth leg of Philippine Golf Tour (PGT) Asia and sixth stop of TPGA. Counting his two birdies at the front, Lascuña closed out with a 34-36 for a 17-under 271 total worth $17,500 in a victory that washed away two years of struggle to regain the form that netted him a number of local titles and three PGT Order of Merit crown from 2013-14 and in 2016.

“It’s been a long time and what makes this win a lot sweeter was that I made it here in Taiwan,” Lascuña said. “But coming here, I was really confident of my form and my chances.”

But he later admitted to have been surprised by his errant drives in the last two holes but kept his composure and didn’t let those miscues unnerve him a bit.

“I was actually steady off the tee since day 1 but that’s golf and the pressure that goes with it,” he said. “But I told myself to just stay focused and I knew I could salvage

in Davao, Cebu, Clark and at the Senate, House of Representatives and Malacañang.

The Philippine SEA Games Torch—designed by foremost metal sculptor Daniel dela Cruz— portrays the national symbols of the country.

It symbolizes unity and celebrates a common message of sportsmanship, athletic superiority and artistic achievements.

The design is inspired by and is a stylized interpretation of the Philippine national flower sampaguita—symbolizing purity, simplicity, humility and strength.

The Games are set from November 30 to December 11 in Clark, Subic, Manila, Tagaytay, Batangas, Laguna and La Union. There are 56 sports on the program.

teneo showed composure against last year’s runner-up University of the Philippines (UP), 89-63, to stay clean after the first round of the University Athletic Association of the Philippines Season 82 men’s basketball tournament on Sunday at the Smart Araneta Coliseum.

The Blue Eagles hung tough in the second half and gave the Fighting Maroons something to ponder if they wish to challenge the defending champions for another titular showdown.

Sure, there will be a short break and another stretch in the second round for UP to regain confidence and improve its 5-2 win-loss record.

But in front of the 19,861 fans who wore either blue or maroon, it was Ateneo that dealt the heaviest hits, especially in the third quarter where the Blue Eagles had their Katipunan neighbors clueless and unconscious.

UP’S coach was even thrown out of the game.

Ange Kouame fired 19 points that went with 15 rebounds and seven blocks for Ateneo.

Matt Nieto added 18 points and five boards, while Will Navarro chipped in 14 points as the team finished the first round with a perfect 7-0 record.

From a mere four-point lead at the break, the Blue Eagles rolled up a 10-1 run, capped

by Matt Nieto’s triple that made it 45-32 with 7:29 left in the third.

In the heat of the blistering Ateneo run, UP Head Coach Bo Perasol was left red-faced after charging a referee for what he believed was

Blu Girls miss slot to Tokyo 2020

a none-call on a Jerson Prado basket attempt against the long arms of Kouame.

The Blue Eagles were riding a 47-35 lead when Perasol attacked the game official, which resulted to his ejection, two free throws

by Thirdy Ravena and a three-pointer by Adrian Wong to widen the gap to 17.

That kept Ateneo in the driver’s seat the rest of the way.

Kobe Paras had 15 points for UP, while Javi Gomez de Liaño and Jun Manzo added 14 and 12 points, respectively.

Third in the standings was University of Santo Tomas (4-3), followed by joint fourth placers Adamson University and De La Salle (3-4).

In the first game, Senegalese big man Alex Diakhite delivered the goods for University of the East (UE), as it it tore down National University, 78-72, and breath an air of relief after a rugged campaign in the first round.

Standing at 6-foot-9, Diakhite dwarfed everyone including his counterpart Issa Gaye when he mustered 22 points and 13 rebounds for UE’s second win in seven games.

He partnered with Philip Manalang, who had his share of 13 points, seven assists and four boards for the Red Warriors who are already assured of a better campaign this season after a 1-13 finish last year.

“The win today should serve as an inspiration for us to learn how to win.

[We have to] to make winning a habit,” UE Consultant Lawrence Chongson said. “We knew that if we lost today, it would be almost impossible to get back.”

T

HE Philippine women’s softball team closed its campaign in the World Baseball Softball Confederation Softball Asia/Oceania Qualifier with back-to-back setbacks at the Shanghai Chongming Sports Training Center in China over the weekend.

The Blu Girls, ranked 13th in the world, bowed to No. 7 Australia on Friday and to No. 6 Chinese Taipei on Saturday.

The Cebuana Lhuillier-backed Blu Girls finished the tournament at fourth place and failed to claim a berth to the 2020 Tokyo Olympics which will go to either Australia or No. 8 China.

Still, Amateur Softball Association of the Philippines (Asaphil) President Jean Henri

Rick Olivares bleachersbrew@gmail.com

Bleachers’ Brew

N.U. class AFTER the National University (NU) Bulldogs crushed the Far Eastern University (FEU) Tamaraws, 61-39, last week in the ongoing University Athletic Association of the Philippines Season 82 men’s basketball tournament, the former’s Head Coach Jamike Jarin brought the entire team to the media room for the postmatch press conference room.

Not only was that a first to have an entire team to bask in the afterglow of a badly-needed win, but it was classic Jamike Jarin.

Since he came up with the Ateneo Blue Eaglets where he won a smattering of titles (he also won coaching the San Beda Red Lions in the NCAA), he has never placed the spotlight on himself. He would only stay for a minute or two to be interviewed then turn it over to his players.

Jarin though has always been one of the most quotable coaches. His quotes are funny and insightful as is his basketball mind. One of the game’s characters, I do hope his team does better because he does deserve better.

The Bulldogs are at the lower tier of the standings with a 1-5 record, but they could easily be at 5-1 had they not crumbled in the final minute of play in four of their five losses.

I have reasoned in the past and have done so this year that these Bulldogs are still too young.

Last year, with players like John Lloyd Clemente and Dave Ildefonso coming up, it was learning to play together. Look, save for one or two players everyone else was the man on their respective high-school teams. Finding their place on the team or knowing their roles isn’t something that can be accomplished overnight. That takes a huge paradigm shift.

This season, I have maintained that it is finding their legs—meaning I still don’t think they would do well. It is by next season where they will finally gain some traction. It depends also what movements are made in the offseason.

I think this team is one solid power forward from seriously making a game out of it. Jonas Tibayan has played better this year, but he needs to be more consistent. He will given a bit more exposure and him gaining confidence.

I wasn’t crazy about the addition of Troy Rike as a one-and-done player. That was a gamble.

I thought that NU would have been better served had Tzaddy Rangel, Matt Aquino and Tibayan been given more minutes. Am not saying that in hindsight. I am just not crazy at this rule of one-and-done players because it does make a mockery of the college game.

Looking at this NU team and having closely followed them since the 1980s (I do have a lot of history with this team as their late Coach Sonny Paguia was my neighbor and I have been close friends with Manny Dandan and Eric Altamirano and have also worked with the school in some capacity), I think they are on the cusp of being a very good basketball team. They will add a few more pieces, but this is a good team.

If their junior players in Carl Tamayo, Kevin Quiambao and Gerry Abadiano move up, that will give them even more help.

Yet, that is in the future. By no means is the season over for these Bulldogs. They have to keep on winning ballgames to have that chance for a Final Four slot.

It would be nice to see Jarin bring the entire team again for that post-match presser.

Maybe more.

Lhuillier is confident the team will continue to improve and promised to start preparing for the coming Southeast Asian Games the country is hosting from November 30 to December 11.

“The team worked very hard to get to this qualifying tournament and a top 4 finish is still an impressive feat,” said Lhuillier, who is also president and CEO of Cebuana Lhuillier.

“This setback will allow us to pinpoint our weaknesses which we will address. Definitely you’ll see a much stronger Blu Girls in the SEA Games,” Lhuillier added.

Five of the six spots for Tokyo Olympics have already been filled up by US, Italy, Mexico, Canada and host Japan.

OFF TO MALAYSIA Members of Team Unified Tennis Philippines (UTP) leave for

Malaysia to compete in the International Tennis Federation Juniors J5 tournament in Selangor from October 1 to 6. They are (from left) Coach Leander Lazaro, Sydney Enriquez, Macie Carlos, Eric Tangub, Denise Bernardo, Bliss Bayking, UTP General Manager Jackie Tomacruz and Director Gerard Maronilla. Other members of the squad backed by Cebuana Lhuillier, Micro Savings, Palawan Pawnshop, Dunlop, Enervon, STI, Buffalo Wild Wings, Bo’s Coffee and Madison Galeries Lifestyle Mall are Nio Tria and Assistant Coach Jun Tabura.

Sports

Antonio Brown’s fall as fast as his rise in NFL A

ntonio Brown’s unraveling happened nearly as quickly as his rise in the National Football League (NFL).

One of the most prolific receivers for a decade, the four-time All-Pro got dumped by three teams in six-anda-half months. The New England Patriots released him last week after a second woman in 10 days accused him of sexual misconduct—the first said in a lawsuit that he assaulted her on three occasions, including rape.

As with most of Brown’s career, all the developments were easy to follow—on his Instagram and Twitter accounts.

Brown used social media to build his fan base and brand as he became one of the league’s most popular players. It also helped hasten his downfall in Pittsburgh, and he used Instagram posts to manipulate his rapid release in Oakland this preseason as he became disgruntled with his new team.

That cost him $29,125,000 worth of guaranteed money on his contract. The Patriots signed him hours later, but he played one game with them and was cut after the team learned he tried to intimidate another woman who accused him of sexual harassment.

Brown couldn’t keep a low profile, though. On his first unemployed NFL Sunday, he took shots at Patriots owner Robert Kraft, even though he wants to get some or all of his $9 million bonus from New England. He also directed criticism at longtime Steelers quarterback Ben Roethlisberger.

Former NFL quarterback Ryan Leaf’s story of drugs and self-destruction is well-known. Leaf spiraled out of control and ended up in prison but has turned his life around and is helping other players as an NFL Legends Community coordinator. He described Brown’s actions as “self-sabotage.”

“It’s lacking in any personal accountability and I know

what that’s like for sure because I always compared myself to other people in terms of what punishment did they get,” Leaf told The Associated Press. “I was that guy for so long where I just couldn’t take an honest look in the mirror and see my part in it. When you no longer rely on the idea of blaming others then you have to take a look at what your part is in all this and he’s just not willing to do that as of, yet.”

Brown took a few days off from social media after declaring in a Twitter rant that he was done with the league.

He returned to the platform Thursday and indicated he’s not quite ready to hang up the cleats.

“I’m still the best why stop now,” Brown wrote.

He followed up with: “The game need me I’m like test answers.”

Brown also wrote that he won’t be wearing Nike, which dropped him last week. He announced he wants to practice at high schools one day a week starting in Miami. Then he engaged in aback-and-forth with Los Angeles Rams safety Eric Weddle, who faced him often with the Baltimore Ravens.

His latest stream of consciousness was tame compared to the now-deleted posts from Sunday. Brown claimed then the NFL had been more lenient toward others facing allegations of sexual misconduct. Brown was accused of rape by a former trainer, who filed a civil lawsuit against him in Florida. The second woman, an artist he hired to paint a mural at his home, has accused Brown of exposing himself to her.

Brown’s future in the NFL is uncertain and he faces possible suspension for violating the league’s personal conduct policy. Still, it’s possible a team will take a chance on player with Brown’s immense talent. But first he needs to make changes. AP

BusinessMirror

C4

| Monday, September 30, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

NO FLAG. D NO ANTHEM. NO RUSSIA.

Sofiya Palkina, competing as a neutral athlete, competes in the women’s hammer throw qualifying round. AP

By James Ellingworth

The Associated Press

OHA, Qatar—At the world track championships, it’s as if the world’s biggest country simply doesn’t exist.

Suspended for its second world championships due to doping, Russia has sent 30 “Authorized Neutral Athletes” who can’t wear national colors. The icon next to their name on television and on the scoreboards in the stadium is the “IAAF” logo of track’s federation instead of the Russian flag.

There’s no getting used to being a neutral, says Mariya Lasitskene, who’s been here before when she won the high jump world title in 2017. Her anthem wasn’t played.

“No one’s used to it. Everyone’s worried and nervous. It’s not nice. You want to be in a different uniform, and not to see IAAF next to your surname,” she said after qualifying for the final Friday.

Wearing subdued blacks and grays, Russia’s athletes dress like they’re modeling generic sportswear. A vetting process has kept out past stars with a history of drug use, so the team in Doha is just 30 athletes. Lasitskene is the only reigning champion, but Russians are also targeting medals in men’s high jump and the 110-meter hurdles.

Nearly four years into its ban from track and field, much longer than in any other sport, Russia dared hope it might once again send a full team to this year’s championships.

Instead, Russian track is battling a new wave of scandals.

This year has seen banned coaches still working, forged medical documents and—most damagingly of all—evidence revealed Monday that data on past offenses was tampered with before Russian law enforcement handed it over in January. The World Anti-Doping Agency (Wada) is investigating and could place further restrictions on Russia across multiple sports ahead of next year’s Olympics in Tokyo.

Lasitskene is already taking precautions.

If Wada suspends Russia’s anti-doping agency, she’ll move abroad—though “definitely not to the US”—to show she’s under a rigorous testing program.

“We’d be going to train, and I’ll underline that. To train, not to change nationality,” she said. “Training abroad might

THE Los Angeles Dodgers’ Cody Bellinger (left) gets a high forearm slam from AJ Pollock after hitting a grand slam against the Colorado Rockies during their game in Los Angeles on Sunday. AP

very well be needed, because I don’t want to miss the Olympics a second time.”

In 2016, Lasitskene was a contender for Olympic gold, but she was barred along with almost all of the Russian squad. The winning height of 1.97 meters was easily within her range.

The IAAF hoped a ban would prevent a repeat of the widespread cheating at the 2013 championships in Moscow by forcing Russia to develop a new, clean generation of athletes. But young athletes have been implicated, too.

Of the six Russians who won medals at the last world championships in 2017, two have since been stripped of the neutral athlete status which allows them to compete internationally. Race walk silver medalist Sergei Shirobokov was found at a secret training camp in Kyrgyzstan with a coach banned for life for blood doping.

The case of another 2017 medalist, high jumper Danil Lysenko, won’t go away. After he missed three drug tests, he faced a ban. In his defense, the Russian track federation produced medical documents apparently showing he had been too ill to test.

After suspicions were raised about the apparently nonexistent clinic named on the documents, the IAAF’s Russia task force reports Lysenko later confessed the documents were fake. He said top officials from the Russian track federation “conspired with him to obtain and provide those documents.” The task force added he “subsequently recanted that allegation.”

Being neutral doesn’t make the Russian athletes independent of their doping-tainted federation, which still decides team selections and coaching appointments.

That means few Russian athletes are willing to speak out about the federation’s slow pace of reform. As Russia’s sole world champion, Lasitskene’s fame brings her more freedom, which she used in June to call for mass resignations of Russian officials and doping-tainted coaches.

The neutrals have been given a code of conduct for the world championships—no flags, no singing the anthem, no facepaint or nail varnish in Russian red, white and blue.

After three seasons traveling the world as a neutral, Lasitskene knows the rules inside out. “Everyone’s knows what’s what.”

Major League Baseball attendance drops in boom-bust era of big winners, losers

N

EW YORK— Major League Baseball (MLB) has entered the Boom/Bust Era. An unprecedented four teams won 100 games in the same season.

Four clubs lost in triple figures for only the second time.

Amid widespread claims the baseballs have changed, hitters shattered the home run record for the second time in three seasons.

And sparked by batters going for the fences to beat suffocating shifts, strikeouts set a record for the 12th year in a row and outnumbered hits for the second straight season.

With some teams out of contention even before their first pitch, average attendance has dropped four years in a row for the first time since the commissioner’s office started tracking it in 1980.

“We’re going to draw 68-plus million people at the big league

level,” baseball Commissioner Rob Manfred said this week, “another 41 million in minor league baseball—they’re actually going to be up. I’ll take 110 million people going to see the sport live. That’s a really, really awesome number in an environment where people have more and more and more alternatives to consume.”

More and more teams have adopted an all-in or all-out philosophy. If they don’t think they can win it, why bother to be in it? Better to shed expensive veterans and rebuild with cheaper rookies—and incur the box-office hit. Management calls that prudent rebuilding. The players’ association labels it tanking.

“We have some of the most remarkably talented players our game has seen as a whole in a long time,” Union Head Tony Clark said. “But the willful failure of too many franchises to field competitive teams and put their best players on the field is unquestionably hurting our industry.”

San Francisco has dropped from 3.2 million fans at home to about 2.7 million, Seattle and Toronto both from 2.3 million to about 1.8 million. Baltimore drew 1.3 million, its lowest total at home in a non-strike shortened season since 1978. Kansas City’s 1.5 million is its lowest since 2006.

While Philadelphia rose by about 500,000 following the signing of Bryce Harper and Minnesota by 300,000 during the Twins’ winningest regular season in a half-century and San Diego by over 200,000 after adding Manny Machado,

about half the teams are headed to declines. This year’s drop was just around 2 percent with three days left in the regular season, from 28,830 to 28,252, but the final average should rise slightly after weekend games. The average fell below 30,000 last year for the first time since 2003.

Manfred points to increases in television viewers. Fox is up 9 percent this year and at a seven-year high, and local broadcasts are first in prime time in 24 of 25 markets. Use of MLB’s At-Bat app is up 18 percent.

Still, wins and attendance are correlated in many markets.

“We’ve lost a lot of games this year, a few more than we wanted to, but ultimately it’s about getting on the right side of things and sometimes you do have to take a step back,” said Mariners Manager Scott Servais, whose team entered the weekend 66-93. “The disparity in the game between the top and the bottom, it’s real. There’s no question about it.

Is it good for the game? I don’t know. I do know that there are a lot of really smart people that work in front offices and ownership groups, and they do realize that sometimes you do need to pull back, and that’s what we’re doing, and I’m all in because I think it’s going to work.”

Houston (105 wins), the Los Angeles Dodgers (104), the New York Yankees (103) and Minnesota (100) all reached the century mark. It’s the third consecutive year three teams have reached 100—before this run it occurred only in 1942, 1977, 1998, 2002 and 2003. AP

D

Saving God

EAR God, You hear and attend to those who cry out to You in their need. Hear us as we pray: Awaken our hearts to Your word of life, oh God. Accept our gratitude for Your blessings and awaken us to see You in one another and all creation. Grant discerning hearts and trustworthy companions to those who are making life decisions.

Inspire Your Church to deeper listening and dialogue on matters of justice that reflect Jesus’ love and respect for all people.

May God be our refuge and strength, our stronghold in time of distress and our wellspring of love, in Jesus our brother. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

CABRINI ROY feature at British Vogue October 2019

Life BusinessMirror

AND THEN SOME: HOW BEAUTY WORKS WITH TECHNOLOGY IN FIGHTING THE SIGNS OF AGING D4

Monday, September 30, 2019

D1

THE POWER OF TEA TREE OIL IN A MASK

Cabrini Roy: ‘Vogue’-approved L

ONDON—This city is a hotbed of bold, ambitious and burgeoning talents. And a creative force fast making a name for herself in the cutthroat world of fashion is Filipina-British Cabrini Roy. Cabrini follows on the successes enjoyed in London by Filipino designers, such as Lesley Mobo, Mich Dulce and John Herrera. Her clothes have been worn by celebrities, such as Nadine Lustre, Loisa Andalio, Kyline Alcantara, Julie Anne San Jose and Ylona Garcia.

In the future, though, she would love to see Zendaya, Jhene Aiko, Ariana Grande, Kendall Jenner, Hailey Bieber, and Bella Hadid wearing her clothes as she loves each of their styles. Cabrini created a stir when she was featured in the October issue of Vogue UK, with Kaia Gerber on the cover, along with emerging talents that the fashion bible deemed as rising stars. The dynamic consul Stacy Danika Garcia, an arts and culture aficionado, arranged a meeting between me and Cabrini at a café near the Philippine Embassy.

What follows is our informal and electronic conversation.

WHAT IS YOUR FASHION AWAKENING? I’m a 23-year-old fashion designer. I graduated from London College of Fashion (Fashion Design Technology: Womenswear) last year and just recently started up my brand. I was born in the Philippines but came to England when I was five. From a young age, I’ve always adored fashion. I got it from my mom, who loved dressing up and I was inspired by her which lead me to start designing clothes at nine years old.

I was a very creative child and I loved the idea of mixing art and clothes. For my 13th birthday, I begged my parents for a sewing machine and this was the first time I made clothes and I just fell in love with it. Since then, I’ve always known that I wanted to have my own brand one day.

HOW DID YOU COME TO REALIZE WHAT YOUR AESTHETIC WAS GOING TO BE? It was going to university that helped me discover my aesthetic. I was drawn to garments and colors that were minimal and clean but contrasted with bold silhouettes.

I specialize in luxury ready-to-wear garments that aim to empower the everyday modern woman.

WHEN DID YOU KNOW YOU WERE READY TO START A COLLECTION? I got e-mailed by Fashions Finest (an online portal for all people involved in the fashion world—models, creatives, photographers, designers, hair and makeup stylist, writers, journalists, etc.) to participate in London Fashion Week (LFW) and it really pushed me. I wanted to do a new collection anyways and this was the perfect way to showcase it.

WHERE DOES YOUR INSPIRATION COME FROM? My inspiration comes from my cross culture of BritishFilipino. I get inspired by both of my cultures. I also get inspiration from my childhood photos as I’ve always wanted my clothes to be a representation of my life, my identity and my style.

WHAT MAKES LONDON A GOOD PLACE TO START IN FASHION? WHY IS STUDYING FASHION IN LONDON A GREAT INVESTMENT? London is one of the fashion capitals in the world.

It’s a great place to start fashion and a great investment to study fashion because there’s so many inspirations everywhere, like the way people dress, the locations, and there are so many museums and galleries that you can visit and draw inspiration from.

When I need inspiration, I usually just go to exhibitions or museums, or just walk about London. There are also many fabric shops in London that specialize in the different fabrics you’re after.

For me, I get design ideas by looking at the fabric so this is also one of my favorite things to do to get inspirations.

There’s Fashion Week that happens twice a year that you can go intern in so you can watch shows and get many opportunities for internships so you can learn and gain more skills and experience.

TEA tree oil is known for its purifying, antibacterial properties, and has been used for centuries as a treatment for cuts, burns and bites. Tea tree oil is famously grown in Australia, where it has been used in traditional medicine by aborigines for many years.

Not many people know, however, that it grows equally well in Africa, in the pure mountain air near the foothills of Mount Kenya and is irrigated with pure glacial water.

Since 2007 The Body Shop has sourced its Community Trade organic tea tree oil from a cooperative of small-scale farmers in Kenya. The fresh leaves are hand harvested and gently steam-distilled within 12 hours to extract their pure skin clearing oil.

With that, you can be sure you’re getting the blemishbattling power you need from every single bottle from The Body Shop’s Tea Tree range—the iconic Tea Tree Oil, a purifying treatment to help clear oily, blemished skin; as well as the Tea Tree Skin Clearing Facial Wash, which deepcleanses the skin without over drying.

Now, you can also decongest and purify your skin in just 15 minutes with the newest addition to The Body Shop’s Tea Tree range. There is the Tea Tree Anti-Imperfection Peel-Off Mask, made from Community Trade tea tree oil form Kenya, plus aromatic lemon tree oil, which is renowned for its purifying properties; and vitamin E, which is celebrated for its moisturizing and soothing properties. This soothing and gentle peel-off mask purifies and decongests skin.

The newest addition to The Body Shop’s Tea Tree Range makes your skin feel refreshed and mattified, as it minimizes the appearance of pores and gently peels your skin without the pinch.

Build a skin-care routine that is fun but works hard in battling blemishes and keeping your skin clear and decongested. Discover the real tea tree power, and have that instant blemish-free confidence boost you deserve with The Body Shop’s Tea Tree range available in all The Body Shop Stores.

WHAT ARE THE INSPIRATIONS AND EMOTIONS BEHIND YOUR LFW COLLECTION? My collection, “Wardrobe ng Modern Maria Clara,” blends my love for a selection of pinnacle fashion references, including power dressing, soft silhouettes and my culture. I took inspiration from my Filipino heritage with the idea of a modern Filipiniana and Maria Clara with a combined twist of soft tailoring and a feminine touch. I created a setting in my imagination of a modern Maria Clara living and working in the city wearing chic, trendy and eyecatching clothes, but still keeping the silhouette of a traditional Filipiniana in her wardrobe.

At the heart of my collection is a core understanding of a color palette to complement any skin color and body type. Soft hues are mimicked through the use of organza and silk creating the perfect representation of a warm summer’s evening—all of them contrasted with sharp tailoring. This collection is the perfect representation of my own cross culture.

HOW CAN ONE PARTICIPATE IN A PLATFORM LIKE LFW? There’s a handful of Fashion Week event organizers that you can apply to so you can get a chance to participate at London Fashion Week.

HOW DID THE BRITISH VOGUE FEATURE COME ABOUT? They actually contacted me directly and e-mailed me that they would like my brand to be featured on their Designer Profile and Vogue Retail sections. The magazine handpicks emerging designers to be part of their designer profile campaign and www.vogue.co.uk/retail and my brand was one of them. This opportunity is such a huge highlight in my career as I’m only four months into starting my brand and Vogue has already recognized me.

My immediate career plans is to launch my web site (www.cabriniroy.portfoliobox.io) and my brand so people can start purchasing my clothes. I’m so excited because it’s a dream come true to have people wear Cabrini Roy. ■

JULIE ANNE SAN JOSE

D2

Style

BusinessMirror

Monday, September 30, 2019

www.businessmirror.com.ph

z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Lacey Chabert, 37; Marion Cotillard, 44; Jenna Elfman, 48; Fran Drescher, 62.

Happy Birthday: Face facts, consider what’s best for you and make the necessary adjustments. Put everything in order and free up your time. Being free and clear of clutter, past mistakes and situations that leave you in limbo will encourage you to stop standing still and start moving in a direction that will bring you closer to the life you want to live. Your lucky numbers are 6, 13, 20, 28, 32, 38, 49.

a

ARIES (March 21-April 19): Stop procrastinating and initiate the changes you want to make. Question your current relationships, and the equality and balance in your life.

Look for an opening that excites and challenges you mentally or physically. Romance is encouraged. HHH

b

DENNIS LUSTICO

CARY SANTIAGO

JOJIE LLOREN

LESLEY MOBO

Red Charity Gala fetes past honorees

TAURUS (April 20-May 20): Keep moving forward. Incorporate changes that will keep you up to speed with everything taking place in your field or the latest technology. Listen to the voice of experience and rely on past mistakes when it’s time to confront a decision. HHH

RAJO LAUREL

c

GEMINI (May 21-June 20): Take pride in what you do. Don’t feel you have to appease others when doing your own thing will bring the highest return. Get along with your peers, but put your responsibilities first. HHH

d

CANCER (June 21-July 22): Don’t get in someone’s way. You’ll gain more in quiet pursuit of your own personal goals. Let others do as they please, and enjoy whatever brings you the most satisfaction. A creative quest or new adventure will change your life. HH

e

LEO (July 23-Aug. 22): Stop procrastinating and start doing. Use your experience, drive and knowledge to persuade others to join your cause. Surround yourself with youthful, fresh minds eager to learn and to be a part of something exciting.

Personal growth and romance are featured. HHHH

By Pauline Joy M. Gutierrez

FROM left: Dennis Lustico, Fuentes Manila President and CEO Edd Fuentes, Kaye Tinga, Tessa PrietoValdes, Lope Navo and Joey Samson

R

ED Charity Gala founders Tessa PrietoValdes and Kaye Tinga already knew that it would be a daunting affair to gather all 10 of the world-renowned Filipino designers they have featured for the 11th run of the country’s biggest fashion and philanthropic event. That is, until they asked themselves, “Why then and not now?”— especially given that this once-in-a-lifetime gathering will again be for good cause.

“In the past couple of years, we’ve been thinking about bringing the designers all together, but we knew that would be ambitious because four of them are based abroad and the logistics alone would be a challenge,” shared Tinga during the gala’s preview held recently at The Manila Hotel.

“But then we thought that after 10 years, siguro we could do it, and so we just decided to go for it and [we know] it will be the most incredible show.”

This year’s annual fund-raising celebration, dubbed “The First Ten,” will return to Shangri-La at the Fort in Taguig City on October 12. Among the roster of designers is Dennis Lustico, who was the gala’s first featured designer back in 2009.

He will present a collection called “The Story of Mei,” which will highlight his hyper-glam interpretation of the Chinese form-fitting dress of Manchu origin, cheongsam.

Dubai-based Filipino designer Furne One, the creative force behind the label Amato Couture, will also be in attendance.

Joining Furne is fellow Dubai-based Filipino couturier Michael Cinco.

The two fashion giants earned their stripes in the industry by dressing some of the entertainment landscape’s biggest names, including Beyoncé, Rihanna, Lady Gaga, Carrie Underwood, Kylie Minogue, Britney Spears, Christina Aguilera and Ellie Goulding.

Meanwhile, seven years after his 35-piece origami-inspired collection, Cebuano designer Cary Santiago’s upcoming showcase will be a spectacle that combines edge, femininity, sophistication and modernity. On the other hand, Ezra Santos, the third UAE-based designer in the

f

VIRGO (Aug. 23-Sept. 22): Put your heart and soul into being successful at whatever you decide to do. If change is required, make it happen and keep moving forward. Refuse to let anyone distract you or lead you astray. HHH

g

LIBRA (Sept. 23-Oct. 22): A change someone makes will turn out to be a blessing in disguise.

Don’t fight the inevitable; embrace whatever comes your way and make the most with what you’ve got to work with. HHH

h

SCORPIO (Oct. 23-Nov. 21): Impulsive decisions should be avoided. Look for other alternatives before allowing anyone to coax you into participating in something questionable. Past experience should be your guide to what will work best for you. HHH

lineup, will exhibit a collection reflecting his modern classic interpretation of Arab culture and its women.

Jojie Lloren, for his part, will modernize the Philippines’ barong Tagalog, terno, and traje de mestiza with his architectural and minimal style while utilizing reengineered versions of Filipino garments.

London-based Lesley Mobo, who is the youngest of the group, was inspired by the classic age in film history. His collection will embody the impeccable structure and femme fatale quality of fashion that Hollywood put in the spotlight in the 1940s and 1950s.

Those who have been following the news since August will know that Mobo created the highly publicized red sequined dress worn by Miss Universe Philippines 2019 Gazini Ganados.

A self-proclaimed maximalist, Chito Vijandre’s collection will be comprised of fantasy couture pieces inspired by 18th- and 19th-century artists. Chito said his clothes will mirror how he experienced the world in his lifetime.

Joey Samson will be presenting a line of menswear that he described as androgynous, marked by a balance between contemporary and classic elements.

His collection will be filled with details and structures

that are both unexpected and traditional.

After successfully headlining last year’s “Archipelago,” Rajo Laurel will once again show his creations made from indigenous materials that will pay homage to the energy, colors and joy of the AtiAtihan. Titled “Hala-Bira,” his collection will reflect his penchant for romanticism and luxury while featuring woven materials by marginalized women from Davao and Bicol.

Prieto-Valdes, who cochairman the event with Tinga, revealed they were able to raise a record amount last year for the benefit of the Philippine Red Cross and their Assumption Batch 1981s charitable projects, gathered from the auction packages and with the help of new and longtime bidders. With this in mind, will this year’s impressive roster surpass past numbers?

“Well, every year we have high hopes!” said Tinga. “But more than anything, we’re very thankful to everyone who has supported this cause.

We’ve been very fortunate and I think that’s why we’ve been able to do this gala all these years. It’s an affair of the heart—all the sweat, blood and tears we put into that night to help our beneficiaries are all worth the show.” n

i

SAGITTARIUS (Nov. 22-Dec. 21): Pay attention. Someone will try to take advantage of your generosity and easygoing attitude. Don’t wait until your anger flares up; if you don’t want to do something, say no. Do what benefits you, not someone else. Be open regarding your feelings. HHH

j

CAPRICORN (Dec. 22-Jan. 19): You need a change. Take a different approach to your everyday routine, and you’ll find a way to drum up more interest in what you are doing. How you approach life will make a difference in the way others treat you.

HHHH

k

AQUARIUS (Jan. 20-Feb. 18): A steady pace forward will help you reach your destination. Focus on being and doing your best. Look for a way to improve your current financial, legal or health situation. HH

l

PISCES (Feb. 19-March 20): A last-minute change will encourage others to pitch in and help you reach your goal. Keep your plans simple and affordable. If someone suggests something excessive, be quick to discourage such behavior.

HHHHH Birthday Baby: You are outgoing, intelligent and perceptive.

You are sensitive and laid-back.

‘unhitched’ by lynn lempel The Universal Crossword/Edited by David Steinberg

ACROSS 1 Paltry 5 Way back when 9 Flat-bottomed cargo vessel 14 Bregman of the Astros 15 Give a hand in Vegas 16 La Scala offering 17 Mashed potatoes mishap 18 Parthenon column style 20 “So long,” in Sevilla 22 Basic assessment tool 23 Great horned ___ 24 Asti Spumante and Madeira 28 Upholsterer’s meas.

29 Compete 30 Bureaucratic runaround 34 Ore’s yield 36 Colorful outback stone 37 Fiery-hot chilis 43 Genesis outcast 44 “Julius Caesar” garments 45 Spots for pooped pooches 49 Jacob, to Isaac 50 Highest bond rating 53 Purple present for a Pisces, perhaps

56 Claim 59 Three-year-old muppet 60 Sudden increase 61 Overtime, e.g., and a hint to what spans the two words of each starred answer 65 Visible air pollution 66 Means of returning a lost pet 67 Count (on) 68 Reid of Sharknado 69 Salary increase 70 Nascar great Petty 71 Crack under pressure DOWN 1 Ailment 2 Managed to dodge 3 Neglectful 4 World’s fairs 5 Not divisible by two 6 The Matrix hero 7 Baseball Hall-of-Famer Rod 8 Quack’s cure-all 9 Expanded rapidly, as business 10 Earth Day mo.

11 Totally change

2 Expanded 1 13 British aristocrat 19 Sugar source 21 Heptagon’s side count 25 Traditional ceremony 26 Sign of sorrow 27 Discontinues 31 Fossey or Goodall subject 32 Golf course benchmark 33 Chi-Town trains 34 Cobra relative of Africa 35 Builder’s site 37 “I’ve been ___!”

38 Ruckus 39 Baseball base 40 Small bunch of flowers 41 Freudian subjects 42 Is breathless 46 Materialize 47 Editor’s “scratch this” 48 Gospel writer 50 Certain military aviator 51 Mohair-providing goat 52 Generational disparity 54 Sappy

55 Corrodes 56 Show signs of waking 57 Verdi opera that premiered in Cairo 58 Bigfoot’s Asian cousin 62 Many undergrad degrees 63 Building wing 64 Ham on ___ (deli order)

Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Monday, September 30, 2019

Rayver Cruz is in full swing Barbie, Jak banner ‘Wagas’ second story HOW will you know if what you are feeling is really love?

Fans of the love team of Barbie Forteza and Jak Roberto, or JakBie, need not wait any longer to see their favorite reeland real-life couple on the small screen again as the awardwinning actress and GMA hunk banner the second episode of Wagas, entitled “Wait Lang...Is This Love?”

Set to air today, September 30 before Eat Bulaga, the award-winning drama anthology’s second offering features the story of Yummy Bubuyog (Barbie), who is already 21 years old but has never experienced what it’s like to be in a relationship.

She is the “no-boyfriend-since-birth” type of girl, though she claims that this is “by choice” because of her two strict and overprotective man-hater aunts: Tita Gloria (Yayo Aguila) and Tita Sonya (Tina Paner) who took care of Yummy since her mother, Leticia, passed away. They don’t want Yummy out of their sight, and more than that, they don’t want their niece to fall in love just yet because of a past that involves them and Yummy’s late mother. The two aunts own the family business Walang Ka-Pares in Valenciana, where Yummy works as the talented cook.

Good thing Yummy has the company of her friends: the sassy and “woke” Bane (Ayra Mariano), and the handsome and mischievous Eugene (Jak), Yummy’s childhood friend and “puppy love.” Her unrequited feelings faded as they grew up, but little did Yummy know that Eugene is already developing feelings for her now that they are older.

The lives of Yummy’s family and friends are about to be turned upside down when rich realtor Rex (Rey PJ Abellana) and his nephew Cedrick (Kristoffer Martin) arrive in Valenciana.

Don’t miss the funny and heartwarming story of the Bubuyog family in Wagas’s second offering “Wait Lang...Is This Love?” weekdays starting today before Eat Bulaga on GMA.

Ogie takes RWM stage with guest stars WHAT better way to celebrate the country’s premier entertainment and lifestyle destination’s 10th anniversary than a musical salvo featuring one of the best balladeers in the country together with some of the most respected personalities in the local music industry.

After sharing the stage with National Artist for Music Ryan Cayabyab in February this year, Resorts World Manila (RWM) is again proud to present Ogie Alcasid onstage at the award-winning Newport Performing Arts Theater together with a roster of the most iconic and recognizable figures in It’s Showtime’s reality talent search Tawag ng Tanghalan in Ogie and The Hurados on October 10.

Joining Ogie for the one-night only concert are his special guests led by Zsa Zsa Padilla, Randy Santiago, Karla Estrada, K Brosas, Karylle, Jed Madela and Rey Valera. The concert also highlights their many accomplishments. Catch Ogie and the Hurados in a onenight only concert on October 10, 8 pm, at RWM’s Newport Performing Arts Theater with musical direction from Nikko Rivera and concert direction from Paolo Bustamante.

Tickets are now available at the RWM Box Office and all Ticketworld outlets. Visit www.rwmanila.com for more 10th anniversary offerings exclusive from Resorts World Manila.

I

t has been a year since Rayver Cruz mustered the guts to take that big network leap from ABS-CBN to GMA, and things are looking rosier than ever for this gorgeous hunk.

“I feel very fortunate that my new mother studio is giving me all the support that it can give, opening doors for me to maximize my potentials as an artist.

I am just so happy that I followed my inner voice and decided to move to GMA, because it was really a big and scary decision. But I guess I’m just lucky and it was the perfect time to have made that big move,” he said.

Right after he signed his contract in September 2018, Cruz was immediately given a lead role in the daily drama Asawa Ko, Karibal Ko. His latest TV series is Hanggang sa Dulo ng Buhay Ko and he gets top billing, too.

He also got prominent exposure in the musical show Studio 7, where he was able to showcase his suave dance routines, something he has always been known for. “I also got to sing a lot and I guess it was a good training ground for me. Now I can confidently sing and dance,” he enthused, breaking into smile.

As if blessings want to overwhelmingly pour into his life, he recently got a new assignment to host the new season of the singing contest The Clash. For this new task, Cruz is being paired with Julie Anne San Jose, one of the network’s musical treasures.

“I get to polish my hosting skills and it excites me.

I’ve been acting for drama programs and dancing for musical shows for a long time now but hosting is something that is relatively new to me, so I’m willing to absorb anything to make me a good host,” he said. Not many know that as a child, Cruz was tapped to be one of the kiddie hosts of the ABC 5 children’s show 5 and Up. Now 30, Cruz feels that he is more focused on doing what he wants and what makes him happy. “As I grow older, I make a lot of realizations—on what truly counts and who truly matters. I am always reminded to go back to the basics—family, home, health, work, real friends, true love.”

Early this year, Cruz lost his dearest mom to cancer and it devastated him and broke his heart. “I hear and read a lot of stories about moving on, but it’s not as easy as that, especially if it hits home. My mother had been the singular pillar of strength to me and my siblings, especially when my dad passed on many years ago. But she is gone, too, and there’s just this void that can never be filled again. I’m glad

that I have my small circle of a support system, and my work helps me rechannel my energies and restrengthen my emotions.”

Part of Cruz’s core is his girlfriend Janine Gutierrez, a showbiz royalty (Pilita Corrales, Eddie Gutierrez, Nora Aunor, Christopher de Leon are her grandparents) who is an intelligent, down-to-earth and kind person.

“She is my core, my strength when I feel I am at my weakest and most vulnerable. She is my wings

when I need to soar and fly high. She can pull me down to remind me to be grounded, and she can push me to be up and become my best. She is my true joy and happiness.”

Cruz is happy and thankful that his career is in full swing now. Being aware that that there is nothing permanent in this industry, he is just taking each day at a time, saving his resources, learnings and energies for the bright future he is building for himself and those he loves. n

D3

D4

Style

Monday, September 30, 2019

www.businessmirror.com.ph

FROM left: Holly Gray, NeoStrata principal head of International and Global Marketing; Catherine Mueller, director, International Markets, NeoStrata Co. Inc.; and Nikki Tang, DMark Beauty Corp.

CEO, during the Philippine announcement of NeoStrata’s rebranding. NONIE REYES

How beauty works with technology in fighting the signs of aging

O

NE of the good things about technology in relation to beauty is that we get to use and enjoy products that do more than just moisturize the skin. Thanks to technology, we have creams and serums that lift, eliminate dark marks, improve the skin’s texture and many other things that 10 years ago or more seemed like a dream. We have oral sunscreen and peels that erase all the beauty mistakes (eating chocolates and drinking alcohol are examples) of our past.

NeoStrata is one of the brands that has benefited from advances in technology, thanks to its founders, Dr. Eugene van Scott and Dr. Ruey Yu, who discovered ingredients that have advanced the science of dermatology. I first heard of this brand in the 1990s, thanks to my dermatologist. The serum I used was expensive at P4,500 but it really helped even out my blotchy skin tone.

The name “NeoStrata” translates to “new layers” and these two words describe the brand’s skincare philosophy and belief that visible results come from renewing layers of the skin. The brand’s team of researchers has been studying topical skincare ingredients for over four decades, discovering and patenting some of the best-known technologies, like glycolic acid, which are licensed.

NeoStrata recently announced a rebranding that would divide their products according to skin concern, whether it is wrinkles, acne, dryness or whatever problem. The NeoStrata Skin Active line is a

collection of premium products designed for maximum, noticeable results in potent formulations that work over time. This collection features benefit ingredients that are often combined into “complexes” to address the multiple concerns encountered while aging.

The includes different regimens to address different skin concerns. Each product within every regimen is formulated with potent, high quality performancedriven ingredients proven to work.

OK, this is what I have learned. You need to be patient when it comes to skin care. Nothing works overnight.

For instance, the Skin Active Tri-Therapy Lifting Serum contains the brand’s proprietary triple antiaging complex of Aminofil, Gluconolactone, and Hyaluronic Acid. It claims to volumize slack skin, renew skin tone and smooth the skin. You start to see results after 12 weeks of use.

Look at the ingredients of NeoStrata Skin Active Tri-Therapy Lifting Serum: ■ Low Molecular Weight Hyaluronic Acid 0.5 percent to smoothen the skin. Due to its unique small size, it penetrates the skin’s surface to attract moisture, which visibly improves skin texture.

■ Aminofil 1.25 percent is the brand’s patented amino acid derivative that will volumize slack skin by reinforcing its matrix and targeting the skin’s Hyaluronic Acid to volumize, plump and firm up the skin for a more lifted appearance.

■ Gluconolactone 8 percent is a hydrating Polyhydroxy Acid and chelator to help reduce oxidative damage and gently increase cell turnover for a more even skin tone.

DMark Beauty Corp. has been providing “Beauty Solutions Beyond Compare” for more than 20 years.

Under the leadership of its CEO Nikki Tang, the company has brought well-known beauty and skincare brands like NeoStrata to the Philippines. Trusted by medical professionals and consumers all over the country, DMark Beauty Corp. is the market leader in the distribution of effective antiaging skin care and minimally invasive skin rejuvenation treatment.

The company’s products are available nationwide in dermatology clinics, aesthetic centers, beauty and personal-care stores, and e-commerce sites.

DMark Beauty Corp. has been NeoStrata’s official distributor in the Philippines for over two decades.

Thanks to this partnership, Filipinos are able to enjoy and experience for themselves NeoStrata’s products.

“All women are beautiful, but sometimes, we have to polish that beauty to bring out the best in it.

I know that there are few women who are truly satisfied and content with their skin, and that’s why I’m happy to have been partnering with NeoStrata for all these years. Together, DMark and NeoStrata work together to help our customers combat the effects of aging, and to help them be vigilant in protecting their bodily assets. I am so happy that DMark is the official distributor of NeoStrata in the country, and that there is so much more to come from this exciting friendship,” said Tang. ■

Get all glassy and glowing WE are at peak skin-care obsession, and it isn’t slowing down. Everyone’s talking about glass skin because these days, the best makeup is a glowing complexion. So-called Glass Skin is all about achieving a translucent, dewy, luminous face that makes you seem like you’re lit from within.

If that is your beauty goal, consider the AAC Essentials Rejuvenating Set, which consists of Dermatone, Clarifying Serum and Whitening Serum.

The regimen involved gives your face a glow like no other. The Dermatone helps brighten skin for a glowing glass-like complexion. The Clarifying Serum increases cellular turnover which makes the skin youthfullooking, while the Whitening Serum lightens and minimize pores to improve the appearance of skin. The AAC Essentials set is designed for a nighttime routine with visible results in just two weeks. Consistency is

key. The more assiduous you are in following a skincare routine, the better your results.

While the formulation of the AAC Essentials is a trade secret, some of the active ingredients include Retinol, Arbutin and a combination of fruit acids. These are ingredients with a proven track record in both safety and efficacy. AAC Essentials is a skin-care line that has been around for 10 years, and longtime users, some from as far as Japan, have been clamoring for it. Apart from the healthy glow, with AAC Essentials, the overall condition of your complexion improves that even if you get acne, whiteheads, and blackheads, it is easier to treat them. The relaunch of AAC Essentials has the added advantage of a more improved formula using the latest research-backed ingredients.

More information on AAC Essentials is available at www.asianaestheticcenter.com.

BusinessMirror

www.businessmirror.com.ph

Monday, September 30, 2019 E1

Why asking for advice is more effective than asking for feedback

Y

By Jaewon Yoon, Hayley Blunden, Ariella Kristal & Ashley Whillans

Conventional w isdom says you should ask your colleagues for feedback. However, research suggests that feedback often has no (or even a negative) impact on our performance. The feedback we receive is often too vague—it fails to highlight what we can improve on, or how to improve.

Our latest research suggests a better approach. Across four experiments—including a field test conducted in an executive education classroom—we found that people received more effective input when they asked for advice rather than feedback.

In one study, we asked 200 people

to offer input on a job application letter for a tutoring position, written by one of their peers. Some people were asked to provide this input in the form of “feedback,” while others were asked to provide “advice.” Those who provided feedback tended to give vague, generally praising comments.

In fact, compared with those asked to give feedback, those asked to provide “advice” suggested 34 percent more areas of improvement and 56 percent more ways to improve. As it turns out, feedback is often associated with evaluation.

In contrast, when asked to provide adv ice, people focus less on

Kianlin | Dreamstime.com

ou just gave a great first pitch to a major client and landed an invitation to pitch to their senior leaders. Now you want a second opinion on your presentation to see if there’s anything you can improve.

evaluation and more on possible future actions.

Orga ni zat ions a re f u l l of opportunities to learn from peers, colleagues and clients. Despite its prevalence, asking for feedback is often an ineffective strategy for promoting growth and learning.

Automation Isn’t About to Make Truckers Obsolete

By Maury Gittleman & Kristen Monaco

H

ar dly a day goes by without someone suggesting that technologies like artificial intelligence, machine learning and robotics will transform the 21st-century labor market. A prominent example of this has been in truck driving. But in looking at the data, we believe that, while the risk of job loss from automation is very real, the projections that often get touted are overstated.

We argue that there are three key reasons why:

Truck drivers do more than drive trucks

T ruck d r i v e r s p e r for m a l l kinds of tasks, from checking vehicles and securing cargo to maintaining logs and providing customer ser vice. Many of these tasks are nowhere close to being automatable. And while some tasks are closer to automation—for example, checking for unbalanced loads, low tires and other safety problems can be performed by sensors—dealing with any issues still requires human inter vention.

Full automation is far into the future

In our study, we based our employment projections on the introduction of level 4 automation, a high-automation environment that assumes the system controls driving and monitoring in some, but not all, operating conditions.

Level 5 automation, which requires the system to perform all driving and monitoring activities in all conditions, is not currently being tested in practice, and level 3 automation, which requires human intervention as the system backup, does not really threaten drivers’ jobs.

Several companies are developing level 4 automation for autonomous trucks. Most of this development is focused on automating the long-haul/ interstate portion of a truck trip, not short haul or local truck moves.

According to our computations, roughly one-quarter of all heavy trucks are used in long hauls of 201 miles or more. Given that truck automation is currently targeted at these longer hauls, we are looking at potential job losses for roughly one-quarter of heavy truck drivers, or about 450,000 drivers.

© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

There aren’t as many truck drivers in the US as people think

Though a number of articles assert that there are roughly 3 million truck drivers in the US, in reality the number is smaller.

There are also operational and regulatory obstacles that may get in the way of level 4 technology being implemented quickly.

Another challenge is that interstate trucking is a complex affair involving multiple parties. What all of these factors make clear is that we’re not going to see losses of millions of heavy truck driving jobs anytime soon.

But while the numbers are not as dire as some headlines suggest, truck driving is already experiencing significant challenges, due to business cycle fluctuations, increasingly complex supply chains and changing work force demographics. This makes it all the more important for us to have an accurate understanding of the challenges facing the industry over the next decade, including those posed by automation.

Maury Gittleman is a research economist at the Bureau of Labor Statistics, where Kristen Monaco is an associate commissioner.

Our work suggests this is because when givers focus too much on evaluating past actions, they fail to provide tangible recommendations for future ones. How can we overcome this barrier? By asking our peers, clients, colleagues and bosses for advice instead.

Jaewon Yoon and Hayley Blunden are doctoral students in the organizational behavior program at the Harvard Business School, where Ariella Kristal is a doctoral candidate and Ashley Whillans is an assistant professor.

Quantifying the cost of Brexit uncertainty

By Walter Frick

M

ore than three years after the referendum, businesses still don’t know what the outcome of Brexit negotiations will be, which means they’re bracing for an impossibly wide range of possibilities, on everything from terms of trade with Europe to immigration rules to domestic regulation.

Economic theory predicts that when firms face a highly uncertain future, they have an incentive to delay investment and hiring, and put off other decisions. And two new studies suggest that this is exactly what’s been happening in the United Kingdom over the past three years, resulting in substantial harm to its economy.

To measure the impact Brexit has had on the UK economy so far, economists from Stanford, the Bank of England, the University of Nottingham and the London School of Economics asked more than 7,000 UK-based executives how Brexit has affected their companies.

Their most recent working pa-

per, published in August, links these survey answers to data on companies’ performance. T he higher executives ranked Brexit as a source of uncertainty, the less their business had grown since the referendum.

“Anticipation of Brexit is estimated to have gradually reduced investment by about 11 percent over the three years following the June 2016 vote,” the researchers write. They also estimate that productivity in the UK has decreased by between 2 percent and 5 percent. (They estimate that Brexit has had a negative effect on employment, too, but this effect was not statistically significant.)

These figures align with recent headlines.

It’s an important takeaway for both businesses and politicians.

While pulling back from global trade can cause significant economic harm, including lower productivity and less immigration, the way this is carried out matters, too.

Walter Frick is the deputy editor of hbr.org.

Yes, employers do value liberal arts degrees

I

By Lynn Pasquerella

t’s no secret that American higher education is under siege, with public confidence in the entire system in rapid decline. However, it is not enough to decry the skeptics of higher education as misguided. Instead, those of us in academia need to respond to their overarching concerns that higher education is too expensive and too difficult to access, and doesn’t teach people 21st-century skills.

This call to action was part of the impetus behind the Association of American Colleges and Universities’ most recent round of employer research, “Fulfilling the American Dream: Liberal Education and the Future of Work.”

The survey found that business executives and hiring managers expressed greater confidence in colleges and universities than the American public does. Sixty-three percent noted having either “a lot of confidence” or “a great deal of conf idence” in American higher education. Business executives (82 percent) and hiring managers (75 percent) also agree upon the value of college, maintaining that it is an essential and worthwhile investment of time and money. Both groups cited the benefits of the accumulation of knowledge, the development of critical and analytical skills, and the ability to focus on a goal—in this case, earning a degree—as being especially meaningful.

Employers overwhelmingly endorse broad learning and cross-cutting skills as the best preparation for long-term career success. The college learning outcomes they rate as most important are oral communication, critical thinking, ethical judgment, working effectively in teams, written communication, and the real-world application of skills and knowledge.

Internships and apprenticeships were deemed particularly valuable, with 93 percent of executives and 94 percent of hiring managers indicating that they would be more likely to hire a recent graduate who has held an internship or apprenticeship with a company or organization.

A student’s undergraduate experience, and how well the experience advances critical learning outcomes (knowledge of human cultures, and the physical and natural world, intellectual and practical skills, personal and social responsibility, integrative and applied learning), is what matters most, with 80 percent of employers agreeing that all students need a strong foundation in the liberal arts and sciences. Indeed, in the global knowledge economy, employer demand for graduates with a liberal education is growing.

Lynn Pasquerella is the president of the Association of American Colleges and Universities.

Education BusinessMirror

E2 Monday, September 30, 2019

New law allows FHEIs to open in Philippines A

By Samuel P. Medenilla

@sam_medenilla

newly signed law will allow Foreign Higher Education Institutions (FHEI) to open branches in the Philippines.

Last month, President Duterte finally signed into law Republic Act (RA) 114481, or the Transnational Higher Educational Act, to boost the preparedness to the so-called fourth industrial revolution of the country’s students by exposing them to international education.

The new legislation allows qualified FHEIs to partner with the country’s Higher Education Institutions (HEI).

To be covered by the law, FHEIs must be recognized in the country where it is based; have standards on a par or higher with HEIs; and have the ability to provide support services to students.

The FHEIs may enter into partnerships with HEIs, which are registered with the Security and Exchange Commission (SEC), to come up with joint degrees with the necessary authorization from the Commission on

PRESIDENT Duterte

Higher Education (CHED).

They may also incorporate a Philippine company to operate its branch campus, provided that 60 percent of its voting stocks are reserved for Filipinos and comply with SEC regulations.

The faculty and academic per-

sonnel of the branch campus may be 80 percent foreign nationals.

As for its administrative and staff members, 40 percent of them can be FN. If the FHEIs is ranked among the top 500 universities in the world, its curriculum approval will be given special consideration by CHED. The law exempts the revenues and assets of nonprofit and nonstock Transnational Higher Education Institutions from taxes and duties.

In preparation for the implementation of RA 114481, CHED will be required to create a Transnational Higher Education Division that will create policies for FHEIs. CHED and other concerned government agencies will be required to submit the law’s implementing rules and regulations 90 days after its effectivity.

Editor: Lyn Ressureccion

Recto: ₧3M spent to produce 1 PMA grad, ₧507K for UP

P

hilippine Military Academy (PMA) cadets are “Iskolar ng Bayan” too, whose studies are shouldered by taxpayers, said Senate President Pro Tempore Ralph G. Recto.

The senator said that on a per student subsidy, PMA cadets occupy the top tier in the country’s million-plus public college student population.

The cost of producing one PMA graduate is about P2.982 million, Recto said in a press statement, using the previous four years’ appropriations and reported number of cadets admitted.

This is six times higher compared to the P507,000 to produce a University of the Philippines graduate of a four-year course. The data is based on the UP System budget less the appropriations for PGH, a UP unit, Recto explained “It is six times more expensive

to produce one commissioned officer out of The Long Gray Line in Baguio than to produce one scientist out of the picket lines of Diliman” Recto said.

As such, PMA cadets are “the people’s investments,” to whom the defense of the Republic will later be entrusted, he said.

“Bawat isa sa kanila ay mahalaga [Each of them is valuable],” Recto added.

He said that if PMAers will have to drop out, it must be on their own steam, and not on a stretcher out of a hospital or morgue.

Recto released on the heels of the death last week of PMA Cadet Fourth Class Darwin Dormitorio due to injuries caused by hazing.

Recto said the PMA’s grief for losing one of its own should be translated into justice it must relentlessly pursue.

OFW proves distance and time are not barriers to learning

Ateneo tops PHL schools in employability rank A teneo de Manila University (AdMU) tops several other schools in the Philippines in terms of employability, the QS Top Universities ranking showed.

According to the Graduate Employability Rankings 2020, AdMU climbed 20 places to 161-170 from 181-190 in the previous year. This makes AdMU the only Philippine university in the top 200 of the annual survey.

“The result of the QS Graduate Employability Rankings 2020 shows that graduates of the [Ateneo] University are some of the most desired

in today’s local and international job markets,” said Fr. Jose Ramon T. Villarin, SJ, AdMU president.

“We remain committed to providing our students with world-class education that can open more doors for them to practice their profession and serve others.”

University of Santo Tomas was next ranked Philippine school at 251300, while both De La Salle University and University of the Philippines were ranked at 301-500.

The 2020 edition of the QS Graduate Employability Rankings included 750 institutions from all over the

world, of which 680 are ranked and 500 are published.

It was designed to evaluate academic institutions on their ability to nurture successful careers for their graduates by bringing together various factors to come up with the results. The study looked at the employment rate of the institution’s graduates, or their salaries for their first year of employment, and also the efforts of the universities to connect their students with possible employers to make the ranking more holistic and comprehensive.

The methodology of the study

focuses on five key indicators: employer reputation; alumni outcomes; partnerships with employers; employer-student connections; and graduate employment rate.

“We will continue to adapt, innovate, and create new openings and opportunities for our students to achieve their dreams and contribute positively to our society,” Villarin said. The Graduate Employability Rankings was conducted by QS Quacquarelli Symonds, a leading global higher-education company, which is best known for publishing the QS World University Rankings. VG Cabuag

7 leaders bag Traditional University Awards

O

ne has devoted more than 40 years of his life in the global campaign to eliminate leprosy, and help develop peace-building practitioners and Asian public intellectuals. Another provided Mindanawons with access to education, helping many young students lift themselves out of poverty. Yet, another created art which mirrors the social realities of our times and environment.

They are the recipients of Ateneo de Manila University’s (AdMU) 2019 Traditional University Awards.

“This afternoon, we come together to celebrate seven lives who have taken on this prophetic role of reminding us of what is much richer than our separate disconnected selves,” AdMU President Fr. Jose Ramon T. Villarin, SJ, said at the Special Academic Convocation held early this month. n Yohei Sasakawa, chairman of The Nippon Foundation, was conferred Doctor of Humanities, honoris causa. His citation read: “In recognition of four decades of work to eliminate leprosy and the discrimination that persons with leprosy endure; for his leadership in establishing networks among governments, the academe, and civil society to address global humanitarian and development issues; the Ateneo de Manila University confers on Mr. Yohei Sasakawa the degree Doctor of Humanities, honoris causa.” n Science Secretary Fortunato T. de la Peña received the Government Service. His citation read: “In recognition of his lifelong commitment to the development of science and technology, research, innovation, and education in the Philippines; for his dedicated service to the Department of Science and Technology and its attached agencies and institutes; for placing science and technology

The recipients of the 2019 Traditional University Awards with the university administrators

at the service of ordinary Filipinos; for being and exemplary government leader and public servant; the Ateneo de Manila University confers on Secretary Fortunato T. de la Peña the Government Service Award.” n Gloria Laureana San Pedro Rosales was posthumously honored with the Ozanam Award. Her citation read: “For her invaluable gift of education to Bataan and Mindanao, through the schools which she established and the scholarships she granted; for her unstinting generosity for men and women of faith, regardless of religion; in celebration of a life which exemplifies the best virtues of a deep, spiritual, Catholic foundation; the Ateneo de Manila University posthumously confers on Mrs. Gloria Laureana San Pedro Rosales the Ozanam Award.” n Rebecca Tañada received the Parangal Lingkod Sambayanan. Her citation read: “In recognition of her life’s work in peace-building and the advancement of women’s rights; for her commitment to social justice and

the development of a more inclusive society; for empowering ordinary citizens and civil society organizations to participate in the continuing work for peace and human rights; the Ateneo de Manila University confers on Ms. Rebecca Tañada the Parangal Linkod Sambayanan.” n Artist Danilo E. Dalena was the recipient of the Gawad Tanglaw ng Lahi. His citation read: “In recognition of his compelling artistic style and a body of work which turns the spotlight on the everyday realities of life in the Philippines; for using his art to disturb, and empower and represent the faceless, the lowly, and the disenfranchised; the Ateneo de Manila University confers on Mr. Danilo E. Dalena the Gawad Tanglaw ng Lahi.” n Alumnus Amando M.Tetangco Jr. (AB Economics 1973) received the Lux in Domino Award. His citation read: “For retaining the Ateneo values of excellence and service in his long career in the Bangko Sentral ng Pilipinas [BSP], which he served with untarnished integrity; for his

contributions to nation-building by ensuring both economic stability and growth for the country; for focusing the sights of the BSP and the financial sector on the marginalized, by advocating financial inclusivity, financial education, and consumer protection; the Ateneo de Manila University confers on Gov. Amando M. Tetangco Jr. the Lux in Domino Award.” n Caloocan Bishop Pablo Virgilio S. David was honored with the Bukas Palad Award. His citation read: “For a pastoral ministry marked by compassion, tireless service, and love for the poor, the oppressed and others in the fringes in society; for his courage in speaking out against the evil of injustice and violence; for being God’s light to people who have only known darkness; the Ateneo de Manila University confers on the Most Reverend Pablo Virgilio S. David the Bukas Palad Award.”

The awardee each received a replica of the Sacred Heart statuette originally carved by National Hero and Ateneo alumnus Dr. Jose P. Rizal.

Ferdinand Gueco graduates as magna cum laude as he earns his Bachelor of Science in Business Administration degree.

D

istance to physical classrooms and time to attend classes have long hampered adult Filipinos from finishing their degrees. To some, it remains unfinished business, but as life responsibilities pile up, the opportunity of finishing school is simply out of reach.

With recent improvements in technology, distance to an institution is less of a barrier as students can now take degree programs fully online. In fact, overseas-based Filipinos have taken to online programs to pursue their dreams of further education.

Overseas Filipino worker Ferdinand Gueco, is one such example.

After getting married early in life, Gueco naturally had to stop schooling. With more life responsibilities, he had to find better work opportunities—such as being an OFW in Saudi Arabia.

While working overseas proved lucrative, the dream of earning a degree and graduating never got old for Gueco. He felt that going back to school will enable him to achieve more professionally to earn more for his family in the Philippines.

Being away from the country and with steep tuition fees at schools in his adopted home, he really did not have options. After doing further research, he found AMA Online Education (AMA OEd).

Upon finding out that he can take courses fully online through AMA OEd, Gueco was excited, but had initial doubts.

“I graduated high school back in the year 2000, and I felt it will be challenging. I was so insecure and questioned myself whether I can still be a person who can perform academically,” Gueco said.

Not wanting to give up on his dream, Gueco went on to enroll in the Bachelor of Science in Business Administration program major in Management Information System.

At first, the challenge was getting used to the significant changes of being a working student.

“Being an OFW is already an arduous endeavor even more as you commit to further study. Aside from taking a significant chunk from my

monthly budget, I had to ensure I used my time wisely, focusing on studying with the limited time I have,” he shared.

Gueco’s doubt was slowly replaced with more motivation as the easy to navigate platform and modules of AMA OEd gave him direction in his studies. “When I started to take my online modules, it was exciting to learn how the platform works. It was convenient, and I can access everything through the portal. Despite my hectic schedule, it allowed me to study anytime, and anywhere,” he added For four years, Gueco worked hard at balancing his time between work and his online studies. With the help of mentors who respond via e-mail, virtual classes, and discussions, he finished term after term despite working full time.

In May this year, he finally achieved the dream he once deemed impossible. Gueco was one of the 72 AMA OEd students who marched at the Philippine International Convention Center to claim their much-deserved diploma.

The moment was extra special for him: He graduated magna cum laude, as well.

The effect of being a graduate was immediate for Gueco. “I recently applied to another company and immediately was about to be hired. My current company, though, found out I was then graduating and decided to keep me and gave me a counteroffer that’s more than what I expected,” he said. He is now a senior purchasing specialist at the Saudi Arabia-based company where he works.

Just like Gueco’s story, those who dream of finishing school but are hampered by time and distance can now turn to online education platforms like AMA OEd. “Online education is really the way of the future. Through our techsavvy, responsible, and innovative graduates, we get to show that online learning is an effective way of studying to earn that degree that opens the door for better life opportunities,” said Dr. Amable Aguiluz, IX, vice chairman and CEO of AMA Education System.

Marketing BusinessMirror

www.businessmirror.com.ph

Why read?

PR Matters

By Millie F. Dizon

Brand and Business: Smart Advocates Cyber-security Skills for Teachers in Metro Manila #CyberSmart Nearly 200 teachers from Metro Manila recently attended a cyber-security caravan to improve their knowledge on online safety and data privacy. PLDT wireless unit Smart Communications organized the #CyberSmart Caravan in observation of the National Teachers Month

Part Two

n last week’s column, Angeline related how her mentor, whom she holds with great respect and high esteem, has urged her to read a lot to get ahead. She is beginning to get drawn into it, but asked us to reinforce the importance of reading and what books we would recommend for her.

We began with an example of how reading can change lives with an in.com article, “Jeff Bezos Became the Wealthiest Man on Earth with the Remarkable Help of this Book.” Here, Peter Economy recounts how in a recent podcast, author and former Stanford Prof.

Jim Collins “discussed his relationship with Bezos, and how one of his very own business books—Good to Great: Why Some Companies Make the Leap...and Others Don’t—changed the game for Amazon at a time when it had not yet turned in a profit.”

We then listed why reading is so important— how it exposes us to new things, expands knowledge and makes us smarter, broadens our imagination, and enhances our creativity.

Reading also improves on our focus and concentration, enhances our memory, and is a great source of motivation.

In this column, we will discuss what books can enrich her knowledge and inspire her.

Now, what to read. Since Angeline’s work has a lot of do with communications, I would recommend that she turn to classic literature.

Reading classic works improves one’s overall vocabulary and writing skills as a wealth of knowledge and entertainment can be found in every page of a classic piece. Classic literature is highly artistic, poetic, beautiful, and altogether lyrical, and has a cultural value. That is why your writing skills and vocabulary will undoubtedly improve as a result of reading classic literature.

And then, we would recommend that we take a cue from what some of the world’s most influential and admired people are reading.

In last week’s column, we mentioned how Bill Gates reveals in a recent interview with the Wall Street Journal, that he carries a tote bag full of books wherever he goes.

Gates loves to read and reads often, telling the Journal how he gets through about one book a week, which is about 50 every year.

What’s on his reading list?

In an In.com article, Ivan de Luce lists “4 Books Bill Gates Says You Should Read Right Now.” These include and Cybersecurity Awareness Month.

“As technology advances, teachers also need to stay updated on the latest developments online,” said Stephanie Orlino, Smart public affairs senior manager and education program head.

“The more they know, the more they are equipped to safeguard themselves and their students from online hazards,” Orlino added.

Held at Don Alejandro Roces Sr. Science and Technology High School in Quezon City, the #CyberSmart Caravan featured lessons on data privacy, social engineering, Internet safety, child protection, and

to lead, which is based on research with 150 C-level leaders and how they lead, is no exception.

Atomic Habits, James Clear

Andriy Dykun | Dreamstime.com

I

Monday, September 30, 2019 E3

Prepared by Diane Tavenner, which “focuses on the story of Summit Public Schools, which teach children real world skills as opposed to lessons that are focused on preparation for state tests. And, judging by their college acceptance rates [99 percent according to the book’s blurb], Summit Schools are making an impact.”

Then there’s Loonshots

by Safi Bahcall, on “how to nurture crazy ideas that win wars, cure diseases and transform industries”; These Truths by Harvard history Prof. Jill Lepore, which delves into the “history of the United States while asking critical questions about the nation.”

Gates also told the Journal that “he plans to read every word David Foster Wallace has ever written before embarking on the novelist’s master work, Infinite Jest.

In another article on the In.com site, Jason Aten lists the “7 Business Books You Told Yourself You’d Read, but Actually Should This Summer.”

Creativity, Inc., Ed Catmull

“Ed Catmull’s book is about his time as president of Pixar. It’s full of stories and examples of how Pixar works its magic with plenty of practical nuggets who can use in any organization looking to foster a culture of creativity.”

Finish, Jon Acuff

“Jon Acuff is a master at weaving humor and wit with practical steps you can use to actually finish a growing number of projects, dreams, and ideas you’ve half-started and left hanging” says Aten. “it’s also a fast enough read that you’ll probably ‘finish’ it on the plane.”

Originals, Adam Grant

Adam Grant’s Originals is “about overcoming the challenge of bringing the idea in your head into the world and is full of engaging

fake news, among other issues, through interactive installations, virtual reality games, relay races and talks by subject matter experts.

The resource persons included Geri Cauilan, Smart cyber-security operations group head; Newsbytes.PH Cofounder Melvin Calimag; and Faye Balanon, Unicef Philippines child protection officer, among other speakers.

The activity also kicked off the #CyberSmart Caravan series, which will go around various schools and universities nationwide to help teachers and students strengthen their online safety and cyber-security knowledge.

individuals that did just that.”

“Angela Duckworth makes the compelling care that the trait most likely to align with achievement isn’t just being really good at something, but rather a combination of deep passion, and an unwillingness to quit.” This is something she calls grit.

of the late Apple founder and CEO, Steve Jobs, is one of the most insightful looks at the life of arguably the most influential innovator of a generation. It also happens to be one of the few books Jobs actually cooperated with, and the result is a comprehensive look on what made him and Apple, one of the most successful business stories of our time.”

Steve Jobs, Walter Isaacson

Dare to Lead, Brene Brown

Grit, Angela Duckworth

“Walter Isaacson’s biography

Aten is a Brown fan, and Dare

What Aten loves most about James Clear’s book, “is the idea that the best way to make real change is to do it 1 percent at a time. Instead of trying to make radical changes or setting huge goals that are far off, set a small goal you can accomplish today.”

It’s also brutally honest “about the fact that long-term accomplishment is usually reached by those who are willing to undergo the mundane process of developing the right habits today.”

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations A ssociation (Ipra), the world ’s premier association for senior professionals around the world.

Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

E4

Monday, September 30, 2019

Perspective BusinessMirror

www.businessmirror.com.ph

‘TAGAY NA!’

RWM goes Pinoy with ‘October Fiesta’

R

By Jt Nisay

ESORTS World Manila (RWM) is set to serve sisig over sausages as it takes on the annual October beer fest with a Filipino flavor. As part of its 10th anniversary celebrations, RWM continues its advocacy on championing the Filipino with “October Fiesta,” a localized take on the annual German beer festival that will exemplify the classic inuman spirit with food, drinks and music.

The two-day revelry, set on October 4 and 5 at the Newport Mall, will feature craft beer brewers from the Philippine Craft Beer Community and their rich range of original creations, from sweet stouts to IPA.

“October Fiesta is a unique celebration wherein mouthwatering food, good music, and distinct craft beers take the main spotlight the way Filipinos usually celebrate parties,” said Joee Guilas, RWM Director for Corporate Communications.

“This year, we’re fortunate to

have the Philippine Craft Beer Community as our partners for October Fiesta to give our guests a taste of genuinely homebrewed and homemade craft beer creations that each have their own distinct flavors.”

The community was established to celebrate Philippine craft brewers and to educate brewers and consumers about the diversity, flavor and quality of beer as the craft beer industry continues to grow.

According to SEA Brew in its Annual Brewers’ Conference in Southeast Asia last year, there

PARTICPATING local craft beer brewers - Cebruery, Crows Craft Brewing, Pedro Brewcrafters, Santiago Brewery, Joe’s Brew, Boondocks

were only two active brewers in 2010. Today, the figure has grown to 80, while the craft beer industry has reached an annual retail market value of $12.9 million.

“Craft beer drinking allows enthusiasts to savor taste, appreciate aroma, and understand the special unique processes and ingredients,” said Cherry Saculo-Genato, Events Organizer for the Philippine Craft Beer Community.

“RWM’s ‘October Fiesta’ brings to the public a different kind of beerdrinking experience.”

October Fiesta guests may choose from a selection of over 300 craft beers.

They can mix and match the drinks with signature RWM ‘pulutans,’ including Franks’ Pinoy Hotdogs with flavors of Adobo, Inasal, and Bistek Tagalog; Franks’ Sisig Wrap; RWM Fiesta Ham; and Bolahan’s selection of streetfood favorites.

In true fashion of Pinoy drinking sessions, guest musicians will also be featured during the twoday event. Musical guests for October Fiesta include Paolo Santos, Migz Haleco, Davey Langit, New Maincast, and Julius on October 4,

along with Hans Dimayuga, Tiara Shaye, Juno, and Hello Ceasar on October 5.

“October Fiesta is definitely a celebration that Filipinos will truly enjoy because it promotes a culture of true appreciation for food and Pinoy craft beers that’s completely different from the usual drinking sprees we see on TV during October beer festivals” Guilas said. “It’s a true celebration of authentic Pinoy pulutan, serbesa, and tugtugan.”

Door charges for October Fiesta are at Php1000, inclusive of five RWM beer chows, three local craft beer servings, and one raffle coupon. Guests may also enjoy two local craft beers samples and one souvenir pilsner glass for Php400.

For more information, visit www.rwmanila.com or download the RWM Mobile App. ___________________ (FROM Left foreground): Resorts World Manila (RWM) F&B Manager Mark de Leon, RWM Corporate Communications Director Joee Guilas; Jun Flores of the Philippine Craft Beer Community (PCBC), and PCBC Events Organizer Cherry Genato; together with the the participating local craft beer brewers for RWM’s October Fiesta.