Manila Standard - 2016 August 3 - Wednesday

WEATHER WESTERN Luzon faces moderate to heavy rain this week as a result of the southwest monsoon that tropical storm “Carina” may enhance, the weather bureau said Tuesday.

The agency said Zambales, Bataan and Pangasinan were particularly at risk for monsoon rain that could cause flooding and trigger landslides. PNA VOL. XXX • NO. 172 • 4 SECTIONS 20 PAGES • P18 • WEDNESDAY, AUGUST 3, 2016 • WWW.THESTANDARD.COM.PH • EDITORIAL@THESTANDARD.COM.PH

Rights watch seeks halt to killings

By Sandy Araneta and Joel E. Zurbano

IN A SPOT. Leyte Mayor Rolando Espinosa (left) surrenders to National Police director general Ronald dela Rosa in Camp Crame on Tuesday, Aug. 2, 2016, following President Duterte’s shoot-to-kill order on the local official and his drug-dealing son, Kerwin Espinosa, who remained at large as of press time. Lino Santos

A HUMAN rights group on Tuesday urged international drug control agencies to condemn the surge in killings of suspected drug users and pushers in the Philippines.

“These global authorities with responsibility for international drug control should call for an immediate halt to the killings,” a statement from Human Rights Watch said.

In a letter, Human Rights Watch and more than 200 other organizations urged the International Narcotics Control Board and United Nations Office on Drugs and Crime to state Next page

Mayor links triad head Espinosa: Drug deals thriving inside Bilibid

Rody gives self 10 days to focus on Mindanao

By John Paolo Bencito and Maricel V. Cruz

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PRESIDENT Rodrigo Duterte said he would be spending 10 days in Mindanao to focus on building the framework for the Bangsamoro peace process, including the Moro Islamic Liberation Front and the Moro National Liberation Front.

At the same time, Duterte ordered Peace Process Adviser Jesus Dureza to head to Kuala Lumpur, Malaysia, within the net two weeks to relaunch peace talks with the MILF. “I have to fix the Mindanao issue. I will look at the framework.

I have to travel to Cotabato… and I will travel to Jolo to talk to [MNLF founding chairman]

FAREWELL TO MARK.

Cyclists bid farewell to Mark Vincent Garalde who was laid to rest in Marikina on Tuesday while his alleged killer Vhon Tanto (inset) underwent preliminary investigation before the Department of Justice. Manny Palmero

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Reds blame military for delayed truce call

By John Paolo Bencito THE National Democratic Front insisted Tuesday that the failure of the Armed Forces of the Philippines to adhere to its own unilateral ceasefire was the reason the communist rebels have been slow to declare their own truce with the government.

“The AFP never ceased their operations in Davao del Norte

TOWN mayor who surrendered to President Rodrigo Duterte has admitted that his son, who is still at large, was dealing in drugs with Chinese triad leader Peter Co, who is serving time in the New Bilibid Prison, Philippine National Police Chief Ronald dela Rosa said Tuesday.

and in Southern Mindanao Region,” NDF chief negotiator Luis Jalandoni said Tuesday in a television interview.

“There was no compliance on the part of the AFP in the unilateral ceasefire declared by President Rodrigo Duterte, one of the reasons why the CPP Central Commitee needed more time in pursuing a ceasefire declaration,” Jalandoni added. Next page

At a press briefing in Camp Crame, Dela Rosa said no case has been filed against Mayor Rolando Espinosa of Albuera, Leyte, who surrendered early Tuesday morning saying he feared for his life.

“He admitted that his son is really into drug Next page

Comelec told: Secure data on Marcos protest THE Supreme Court has ordered the Commission on Elections to secure all the documents and devices pertinent to the election protest that former Senator Ferdinand Marcos Jr. has filed against his rival Leni Robredo, the declared winner in the vice presidential race this year.

In a resolution dated July 12 but was released only on Tuesday, the high court, acting as a Presidential Electoral Tribunal, granted Marcos’ request in his election pro-

test that was filed on June 29, and which had asked for the issuance of a precautionary order.

The PET also issued a summons directing Robredo to answer Marcos’ election protest within 10 days.

“The Tribunal resolves to issue summons and grant the prayer of the protestant for a precautionary protection order pursuant to Rule 36 of the 2010 Rules of the Presidential Electoral Tribunal,” the tribunal said in its resolution.

“The Tribunal’s resolution requiring the issuance of summons on the protestee, Maria Leonor Robredo with a copy of the protest, requires her to file an answer to the protest within 10 days from receipt of the summons.”

The order of the electoral tribunal came as Marcos on Tuesday also filed a motion asking the PET to act on his prayer for a precautionary order.

He said the issuance of a precautionary order was mandated

under Rule 36 of the PET Rules.

He said that provision allows the tribunal to take immediate measures to safeguard the integrity of all the ballot boxes and their contents and other documents related to the election protest.

Marcos lamented that the PET had yet to take such precautionary steps since he filed his election protest on June 29.

The PET’s precautionary order requires the Comelec to “preserve Next page

Hard push China warns: Penalties for Cha-Cha imposed on illegal fishing gaining— Alvarez SPEAKER Pantaleon Alvarez on Tuesday admitted that the declining opposition to Charter Change is due to President Rodrigo Duterte’s hard push for federalism.

He said Duterte’s strong political capital will help convince the people that the proposed revision of the Constitution to pave the way for a federal form of government will do them good and persuade them to support it.

He made the statement in reaction to a recent Pulse Asia survey saying more and more Filipinos are less resistant to Cha-Cha. “The more we inform or educate the populace, I think the number of those supporting it Next page

BEIJING―Beijing on Tuesday announced penalties for “illegal” fishing in its waters, including those it claims in the South China Sea weeks after an international tribunal ruled that those claims have no legal basis.

The Supreme Court defined penalties for boats operating in areas, including the disputed region and its contiguous economic zones, in a move that could raise regional tensions.

The decision appears to be an attempt to strengthen Chinese rules governing the waters, with a focus on sanctions for illegal fishing.

The question of who has the rights to fish in the disputed South China Sea has been a major point of contention between Beijing and Manila, which brought the case to the Permanent Court of Arbitration in The Hague.

The new regulations outline twitter.com/ MlaStandard

penalties for both Chinese and “foreign” fishermen operating “illegally” in Chinese waters, including the country’s “exclusive economic zone,” a 200-nautical mile region surrounding a country’s territory.

The UN-backed tribunal denied China’s claims to an EEZ in the Spratly Islands, where the Chinese coast guard regularly expels fishing vessels from the Philippines.

Beijing refused to accept the ruling, saying the court had no jurisdiction.

China also has maritime disputes with a number of other countries, including Japan and Vietnam.

Those that “illegally enter” Chinese waters more than once in a year or refuse to leave the waters will be subject to fines and up to a year in jail, a post on the court’s website said.

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DEFENSE CHIEFS. A trilateral Defense Minister’s meeting was held on Aug. 2, 2016 on the resort island of Bali. From left: Hishamudding Hussein of Malaysia, Ryamizard Ryacudu of Indonesia and Delfin Lorenzana of the Philippines. AFP

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WEDNESDAY, AUGUST 3, 2016 mst.daydesk@gmail.com

Makati upbeat on land dispute T HE city government of Makati remains confident that the Supreme Court will decide in its favor in connection with its dispute with Taguig City over which of them owns the upmarket Fort Bonifacio district.

“We know that based on the merits, the City of Makati will prevail and justice will be rendered,” said Michael Arthur Camina, Makati’s legal officer and spokesman of Mayor Abigail Binay.

He made the statement in reaction to the high court’s recent decision finding Makati guilty of direct contempt over the case.

As a result, the high court’s Second Division fined the three lawyers that represented Makati City in the case P2,000 each.

“We have received reports of a decision by the Supreme Court

on technical matters related to the disputed areas in Fort Bonifacio,” Camina said.

“We have not yet received a copy of the said decision, but we will immediately study the city’s options upon our receipt.”

Camina said the city government had always been open and transparent in its legal actions to recover what he said was part of Makati’s territory.

“Based on the merits of the case, Makati’s claim has been upheld by the Court of Appeals and the ruling has been appealed by the city of Taguig,” Camina said.

Mayor..

“To Kerwin, if you’re here in the country, you better surrender or die,” Dela Rosa said.

Local police said they had received unverified information that the younger Espinosa may have undergone surgery to change his looks.

“We cannot ascertain where he is. We also have not yet confirmed if the information that he had his face altered is true. We still don’t have a validated report about this,” Senior Supt. Franco Simborio said.

The younger Espinosa allegedly operates in Ormoc, Leyte and in other provinces, including Cebu.

Dela Rosa said Mayor Espinosa should return to his hometown and implement a zero tolerance policy on the use of illegal drugs in two months.

Dela Rosa said they could not hold the mayor because there was no warrant out for his arrest.

Meanwhile, a Visayan lawmaker confessed before his colleagues of being a former drug addict and vowed to help the Duterte administration in its no-nonse campaign against illegal drugs.

In a privilege speech, Negros Oriental Rep. Arnulfo Teves admitted to being a drug addict, but said he has not taken drugs in the last 16 years.

“I would like to take this opportunity to admit… As a recovering addict, I was for a very long time a drug addict. But I have been clean for the last 16 plus years,” Teves said as he rallied behind President Duterte’s campaign against illegal drugs.

Teves proposed a cheap rehabilitation program that would spend P2,500 per addict. With PNA

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dealing,” Dela Rosa said, adding that Espinosa told him that Kerwin was getting his supply of illegal drugs from Peter Co. Co, along with Peter Lim and Herbert Colangco, were identified

by President Rodrigo Duterte as the country’s top drug lords. “[Espinosa] said that he cannot control his son,” Dela Rosa said.

Espinosa surrendered to Duterte on Tuesday after he was given a 24-hour ultimatum to surrender or be shot on sight.

“Mayor Rolando Espinosa has surrendered and [is] now under custody of General Dela Rosa.

The son, Kerwin, is still at large,” Presidential Spokesman Ernesto Abella said.

The ultimatum came after two of the mayor’s bodyguards and three of his employees were arrested in a buy-bust operation in Albuera Thursday. Police seized P1.9 million worth of methamphetamine hydrochloride or shabu during the operation.

Suspects were identified as Jessie Ocarez, 34; and Marcelo Adorco, 40. Also arrested were Jose Antipuesto, 36; Ernesto Dumalat, 20; and Jeffrey Pesquera, 39.

Dela Rosa said Espinosa has promised to cooperate with the Criminal Investigation and Detection Group and to provide information about Kerwin’s drug links.

Dela Rosa said the order for the authorities to “shoot on sight” remains for Kerwin.

Rights...

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unequivocally that such killings “do not constitute acceptable drug control measures.”

“International drug control agencies need to make clear to Philippines’ President Rodrigo Duterte that the surge in killings of suspected drug dealers and users is not acceptable ‘crime control,’ but instead a government failure to protect people’s most fundamental human rights,” said Phelim Kine, deputy Asia director at Human Rights Watch.

“President Duterte should understand that passive or active government complicity with those killings would contradict his pledge to respect human rights and uphold the rule of law,” Kine added.

A “Kill List” that tallies the killings of suspected drug dealers and users by police and unidentified vigilantes clearly shows a surge in these drug-related deaths, the group said.

The “Kill List” recorded 465 deaths between June 30, 2016, the day Duterte assumed office, and Aug. 1.

Official statistics also support assertions of an alarming in-

Hard...

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[federalism] will go high,” Alvarez said.

He said Duterte’s advocacy on federalism was making more and more people receptive to Cha-Cha. He said he was equally unfazed by the results of the recent Social Weather Station survey showing 44 percent of the respondents are against Charter

“The courts must rule on this case based on facts and the law and not on technicalities. It is only after a ruling on the merits can the issue be resolved in a manner that is acceptable.”

Camina said the residents of the disputed area had been waiting for a long time because its development was being derailed by the pending issues and uncertainties.

“The city of Makati is confident in its rightful claim without any resort to technicalities,” he said.

Apart from finding Makati guilty of contempt, the Court also granted the petition of the Taguig local government, which has been seeking a modification of the 2013 rulings of the Court of Appeals. Those rulings transferred the jurisdiction over the disputed residential and business district―including the

Bonifacio Global City―from Taguig to Makati.

The high court sided with Taguig after it found that the Makati government violated the rule against forum shopping when it simultaneously pursued legal remedies before the Pasig City regional trial court and the appellate court seeking the same relief.

The records showed that when the Pasig RTC ruled in favor of Taguig in the dispute, Makati filed a motion for reconsideration and at the same time brought the matter before the appellate court through a petition for annulment of judgment, with both seeking a reversal of the RTC ruling.

The high court said Makati’s actions not only “vexed courts and an adverse litigant, but actually gave rise to conflicting

decisions not only between different courts but even within the Court of Appeals itself.”

In its assailed July 2013 ruling, the appellate court’s sixth division held that Fort Bonifacio belongs to Makati City.

It declared as constitutional Presidential Proclamation 2475 issued by the late strongman Ferdinand Marcos in 1986, and Proclamation 518 issued by the late former President Corazon Aquino in 1990. Both declared Fort Bonifacio as being under the jurisdiction of Makati City.

The appellate court also reversed a July 2008 ruling of the Pasig RTC that awarded to Taguig City territorial jurisdiction over a 729-hectare property covering the seven military villages and inner Fort villages, including the high-end Bonifacio Global City. Joel E. Zurbano

Rody...

along that line. But yes, it’s not just the CPP-NPA-NDF [Communist Party of the PhilippinesNew People’s Army-National Democratic Front] that we need to deal with. We’ll work on another very important meeting in KL with government and the Bangsamoro sector,” he added.

On Sunday, the MILF and MNLF agreed to “harmonize” their respective peace deals with the government to come up with a common stand and streamline efforts that could lead to lasting peace in Mindanao.

Technical working groups of the MILF and MNLF met in Cotabato City over the weekend to review the provisions of the Comprehensive Agreement on Bangsamoro (CAB) of 2014 in relation to the Final Peace Agreement (FPA) of 1996 and the Tripoli Accord of 1976.

The MILF group was led by professor Abhoud Syed Linnga, while the MNLF team was headed by Vice Chairman Ha-

timil Hassan.

Muslimin Sema, who heads the largest faction of the MNLF, said the meeting fleshed out the joint communiqué he forged with MILF Chairman Hadji Murad Ebrahim on July 29 to harmonize the salient provisions of the CAB and the FPA into a concrete document that may guide the Duterte administration in addressing the “historical injustice” among the Moro people.

During Monday’s media forum, Duterte reiterated that he is willing to give Misuari a safe conduct pass for the talks.

“When you talk to the rebel, you have to give them a safe conduct pass, or at least a sense of security to face you and talk to you about what’s bugging the country,” he said.

“If I won’t talk, how do I fix this thing? Once the talk starts, I will give everybody a safe conduct pass,” he added.

John Paolo Bencito and Francisco Tuyay

very tedious and legal process to make it happen,” Dureza said.

“As much as we can, we would like them to be there [at the negotiations] but they should pass through judicial processes. It’s now the judiciary that takes primary control on how it’s going to happen.”

Dureza said it was still too early to talk about an amnesty to the political prisoners.

“Amnesty is too premature...It can be at the endgame when the final peace agreement is forged,” he said.

Among those considered for the release were political consultants Benito and Wilma Tiamzon, top officials of the communist movement.

“As to whether or not they will eventually be released, [that] will depend really on the judicial procedure,” Dureza said.

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Nur [Misuari],” the President said during a media briefing on Monday.

“I told the military and the police, you might want to consider letting them out just for a day,” Duterte said, referring to Misuari, who faces arrest for the 2013 Zamboanga siege.

Palace sources told the Manila Standard that Duterte will be flying to Mindanao on Thursday to talk with the Moro rebels and to speed up work on a framework for peace.

In a television interview, Dureza confirmed that the President ordered him to relaunch talks with the Moro rebels.

“He has already directed our government panel, my office, to go to Kuala Lumpur within the next two weeks,” Dureza said.

“We’re preparing already for that particular trip. We still have to make a lot of preparations

Reds...

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Peace Process Secretary Jesus Dureza said Tuesday that they are now working to effect the release of political prisoners to participate in the resumption of formal peace negotiations with the communist insurgency in Oslo, Norway on Aug. 20.

“We have to go through a

Fool-proof case vs Tanto eyed

By Sandy Araneta MANILA Mayor Joseph Estrada on Tuesday ordered the Manila Police District to ensure a “watertight case” in court against ex-Army reservist Vhon Martin Tanto as Mark Vincent Garalde, the biker he killed following a violent road altercation in Quiapo, Manila on July 25, was buried in Loyola Memorial Park in Marikina.

This, as Estrada said the Quiapo road rage case is already considered solved.

Garalde’s grieving relatives and friends, who attended the burial at Loyola Memorial Park in Marikina City, released white balloons as they cried for justice for Garalde, a 35-year-old gaming assistant who left behind a wife who is pregnant with their fourth child.

Garalde’s remains were brought to Quiapo Church at 7 a.m., where a Mass was celebrated by Fr. Marvin Cruz.

Scores of cyclists joined the procession from Quiapo Church to the scene of the crime at P. Casal Street. Garalde’s family lit some candles on the spot as well.

Public Attorney’s Office Chief Persida Acosta was also present at the event.

The cyclists joined the funeral procession to Marikina.

Apart from mourning with the family, they also sent a message to authorities for a need for a bike lane in all cities around the metro.

Tanto was scheduled to appear before the Department of Justice yesterday at 2 p.m. for the preliminary investigation of the murder and frustrated murder charges filed against him by the MPD for the death of Garalde and the serious wounding of 18-year-old student Rocel Bondoc.

Comelec...

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and safeguard” all the ballot boxes and their contents.

Marcos is seeking the nullification of the proclamation of Robredo as duly elected vice president, claiming that was the result of electoral fraud committed to ensure her victory.

In particular, Marcos is contesting the election results in 39,221 clustered precincts in 25 provinces and five highly urbanized cities all over the country.

He claims that through a series of electoral fraud, anomalies and irregularities, the people behind the whole operation made sure that Robredo would win and that Marcos’ votes would be reduced. Rey E. Requejo

crease in police killings of drugrelated criminal suspects.

Philippine National Police data indicate that police killed at least 192 such criminal suspects between May 10 and July 10.

That death toll in the two months following Duterte’s electoral victory dwarfs the 68 killings of suspects that police recorded during “anti-drug operations” between Jan. 1 and June 15.

Police have attributed the killings to suspects who “resisted arrest and shot at police officers,” but have not provided further evidence that the police acted in self-defense, Human Rights Watch said.

At his inauguration, Duterte identified illegal drugs as one of the country’s top problems and vowed that his government’s anti-drug battle “will be relentless and it will be sustained.”

Duterte also praised the killings as proof of the “success” of the anti-drug campaign and urged police to “seize the momentum.”

PNP chief Director General Ronald dela Rosa slammed as “legal harassment” a call for the Senate to investigate the killings, and said this would “dampen the morale” of police officers.

That same day, Duterte’s top judicial official, Solicitor General Jose Calida, defended the legality of the killings and said that the number of such deaths was “not enough.”

In the letter, the group called on the UNODC and INCB to communicate the following messages to the Philippine government: • Assert that President Duterte’s actions to incite these extrajudicial killings cannot be justified as being in line with global drug control. All measures taken to control drugs in the Philippines must be grounded in international law; • Request that Duterte put an immediate end to incitements to kill people suspected of committing drug-related offenses; • Encourage Duterte to uphold the rule of law and ensure that the right to due process and a fair trial is guaranteed to all people suspected of committing drugrelated crimes, in line with the conclusions of the 2016 UNODC World Drug Report; • Promote an evidence-based and health-focused approach to people who use drugs, including voluntary treatment and harm reduction services, instead of

compulsory detention, in line with UNODC’s guidance; and • In line with the international human rights obligations of the Philippines—and with the official position of both the UNODC and the INCB—call on the Philippines not to reimpose the death penalty for drug offenses.

“International drug control agencies can play an invaluable role in halting the rising body count of suspected drug dealers and users killed by both police and unidentified vigilantes,” Kine said.

“The current status quo in the Philippines puts human rights, rule of law, and the safety and security of Filipinos in immediate peril,” Kine said.

Senator Leila de Lima on Tuesday again denounced the administration over the spate of killings.

As of July 30, more than 400 persons died, an overwhelming majority of whom were killed during alleged gun battles with the police.

In her first privilege speech at the Senate, De Lima said this latest brand of justice flagrantly disregards the basic rights to due process of the law of innocents and suspects alike as guaranteed to them under the

Constitution.

“We have to continue opposing the murder of the innocents as well as that of the suspects.

We must call for the accountability of state actors responsible for this terrifying trend in law enforcement, and the investigation of killings perpetrated by the vigilante assassins,” she said.

“In the campaign against criminality, we cannot applaud criminal methods merely because we are left unaffected.

Life has more value than an accusation written on a piece of cardboard whether you are rich or a scum of the earth. Needless to say, all lives matter,” she said.

Former Akbayan party-list Rep. Walden Bello earlier expressed disappointment with the spate of killings.

He said the bloody encounters taking place daily have polarized the country between those who support the President’s quick and dirty methods of dealing with drugs and crime and those who regard them as illegal, immoral, and self-defeating.

Bello appealed to President Duterte to stop the extra-judicial killings and restore the rule of law and due process.

Change.

“I am more encouraged by the 30 percent that said the Charter should be revised,” Alvarez said in a television interview.

Through a massive information campaign explaining the merits of the proposed Charter Change, Alvarez said, the popular support for federalism could even reach 80 percent or more.

“It’s only a question of explaining to the people, especially in the regions, maybe not any-

more in Metro Manila,” Alvarez said.

He believes a shift to the federal form of government will bring a long-lasting solution to the centuries-old problem of poverty because the growth of the regions have been stifled under the unitary form of government, which the colonizers Spain and the United States imposed on the country to better control it.

“Right now, all the provinces

and regions are being controlled by the central government because we have a unitary form of government,” Alvarez said.

“By shifting to a federal form of government, these regions or states can now manage their own economy, manage their own natural resources, create opportunities for their people.”

Alvarez repeated his support for Duterte’s preference to amend the Charter through Congress acting as a Constituent As-

sembly as opposed to a Constitutional Convention, saying the former was cheaper and worked faster.

He earlier said he would also propose to Duterte to issue an executive order creating a Constitutional Commission or a “Council of Wise Men” composed of experts in law and other fields, as well as representatives from various sectors, to help Congress draft a new Charter.

It also established penalties for harvesting coral and giant clams, as well as other endangered species.

Any foreigners who believe that Beijing has violated their rights are welcome to take their claims to Chinese courts, the ruling said.

In Manila, Foreign Affairs spokesman Charles Jose said fishing rights will be a “priority issue” in bilateral talks with China following that country’s warning against people “illegally fishing in Chinese waters.”

“This is definitely a priority issue that we will have to resolve in our talks with China,” Jose said in a phone interview.

Jose was referring to former President Fidel Ramos’ first mission to China after he accepted President Rodrigo Duterte’s offer that he be the Philippines’ special envoy to Beijing.

He stressed that the International Court made it clear in its ruling that the Bajo de Masinloc is a common fishing ground.

“It is important that our fishermen are able to return to Bajo de Masinloc because it’s about their livelihood,” Jose said.

Ramos is set to have his official mission to China soon, but Jose said they had no information yet about it.

Ramos’ mission to China was on top of the agenda during the Cabinet meeting on Monday.

Maricel V. Cruz

AFP and Sara Susanne D. Fabunan

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News IN BRIEF Las Piñas gets new lawmaker SPEAKER Pantaleon Alvarez tasked the congresswomanwife of newly resigned Las Piñas City Rep. Mark Villar, the designated secretary of the Public Works and Highways department, as caretaker of the legislative district that the former vacated, a House official said on Tuesday.

Alvarez confirmed the resignation of Villar, who was appointed by President Rodrigo Duterte as DPWH secretary, who won the May 9 elections as representative of the lone district of Las Piñas.

While a possible special election shall be held to elect Villar’s replacement, Alvarez decided to tap Democratic Independent Workers’ Association party-list Emmeline Aglipay-Villar, wife of Villar, to take control of his legislative district.

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WEDNESDAY, AUGUST 3, 2016 mst.daydesk@gmail.com

29 bills lapse into law sans Aquino signature

By John Paolo Bencito

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WENTY-NINE bills passed under the 16th Congress have lapsed into law without the signature of former President Benigno Aquino III. Among those bills which lapsed into law are the AFP Derivative Retirement Pension for Children/Survivors Act of 2016, Anti-Age Discrimination in Employment Act, the bill increasing the prescriptive period for acts of corruption and the Mimaropa Act. Under Republic Act 10911, or

the Anti-Age Discrimination in Employment Act, it shall be unlawful for an employer to decline an employment application and impose early retirement on the basis of an employee’s age, among others.

Violation of the said law shall be punished with a fine of P50,000 but not more than

P500,000, or imprisonment of not less than three months but not more than two years, or both, at the discretion of the court.

RA 10882, or the AFP Derivative Retirement Pension for Children/Survivors Act of 2016 exempts surviving children of military personnel who are mentally incapacitated from the termination of benefits upon reaching the age of 21 years, amending Section 25 of PD 1638 or the AFP Military Personnel Retirement and Separation Decree of 1979.

RA 10910 increases the prescriptive period for violations of RA No. 3019, otherwise known

as the “Anti-Graft and Corrupt Practices Act,” from the present 15 years to 20 years.

RA 10879, or the Mimaropa Act, establishes the Southwestern Tagalog Region, or Mimaropa, to be composed of Mindoro Oriental, Mindoro Occidental, Marinduque, Romblon and Palawan.

Other bills which lapsed into law last July 17 were RA 10870 (Philippine Credit Card Industry Regulation Law), RA 10871 (Basic Life Support Training in Schools Act), RA 10872 (An Act Separating the Cagasat National High School in Cordon, Isabela, RA 10875 (the charter of the

National Science and Technology High School in Rizal), RA 10876 (Creating Tinglayan National High School), RA 10877 (Creating the Inil U. Taha National High School), RA 10878 (Strengthening the direct credit support to agrarian reform beneficiaries, small famers and fisherfolk).

RA 10880 (Creating an additional branch of the Regional Trial Court with seat at Calapan City, Oriental Mindoro), RA 10881 (Amending investment restrictions in specific laws governing adjustment companies), RA 10883 (New Anti-Carnapping Act of 2016) and RA 10884 (Balanced Housing Development Program Amendments).

Mayor convicted for graft THE Ombudsman on Tuesday announced the conviction of ex-Barlig mayor Crispin Fias Ilon of Mountain Province for graft for unlawful solicitation of P45,000 in commission from a supplier.

The Ombudsman’s prosecutors said Ilon was meted out jail term of seven years to 10 years, and perpetual disqualification from holding any government post.

According to witnesses, Ilon demanded P45,000 in exchange for the release of the check payment to Blessed St. John Pharmaceutical and General Merchandise on June 9, 2006 for medicine and surgical supplies.

On the other hand, Eastern Samar’s ex-San Policarpio mayor Conrado Nicart III was charged with graft for failure to issue a return-to-work order and the delay in the reinstatement of three municipal employees.

Rio N. Araja

Pichay posts P250,000 bail SURIGAO del Sur Rep. Prospero Pichay Jr. on Tuesday posted bail of P250,000 for his temporary liberty over the multiple cases filed against him in connection with the alleged anomalous bank acquisition deal made by the Local Water Utilities Administration.

At the same time, Pichay posted his bail before the Fourth Division which is handling his cases, such as three counts of graft, three counts of malversation of public funds, one count of violation of Republic Act 8791 or General Banking Law of 2000, and one count of violation of the Manual of Regulation for Banks.

This developed as the antigraft court set his arraignment and other respondents in the cases on Aug.15 at 8:30 a.m.

Maricel V. Cruz

CHA-CHA TALK. Speaker Pantaleon Alvarez (left) exchanges views on federalism with Philippine Constitution Association president and former Leyte Rep. Martin Romualdez and Philconsa chairman Justice Manuel Lazaro during a courtesy call at the House of Representatives. Ver Noveno

Teen pregnancies due to poor sex ed Charge

By Cathrine Mae V. Gonzales THE lack of a comprehensive sexual education (CSE) in the country remains the main reason for the increased number of teenage pregnancies which is the highest in Asia, the Family Planning Organization of the Philippines said Tuesday.

“We are still very, very far from the target,” said FPOP executive director Nandy Senoc. “The youth, instead of having the capacity to protect themselves from unwanted pregnancy and [human immunodeficiency virus], don’t get the

information from their parents.”

“Rather, they get the information from their peers, who also doesn’t know any better,” he said, noting that talking about sex is still considered taboo and that prevents girls from knowing their own reproductive cycle.

Senoc said they have tried to implement CSE in pilot areas, like Quezon City, IloIlo and General Santos, with the Department of Education but the effort is actually “not yet comprehensive.”

“They [DepEd] have been incorporating it with the new curriculum, but it is still

shallow,” he said.

Even the Department of Health reported that the standards of CSE are still undeveloped.

“DepEd has already included CSE in its K to 12 curriculum although it has not yet adopted the CSE standards developed by a panel of experts in consultation with teachers, parents, RH providers, and the adolescents themselves,” the agency said in a report.

“Teachers have yet to be trained on how best to deliver age-specific CSE within the K to 12 curriculum,” the report read.

20,316 Pinoys barred from leaving PH

By Vito Barcelo MORE than 20,300 Filipinos were barred from leaving the country from January to June this year, mostly on suspicion that they were victims of human trafficking syndicates while others were believed to be intending to work abroad without proper documents, the Bureau of Immigration said.

The move was part of the bureau’s sustained drive against human trafficking, which prevented at least 20,316 travelers from leaving the country, according to Immigration Commissioner Jaime Morente.

He said the offloaded travelers failed to present proof that they were legitimate tourists and were not going abroad at their destinations.

He explained that a passenger’s departure

is deferred whenever immigration officers suspect that the passenger is a possible victim of human trafficking and illegal recruitment.

“The campaign has been in high gear, and there will be no letup in our effort to secure our citizens from being victims of human trafficking or illegal recruitment,” Morente said.

Aid distressed OFWs, Digong orders Cabinet

By John Paolo Bencito

TWITTERVERSE. Presidential Communication Secretary Martin Andanar meets with Twitter

representatives, led by Rishi Jaitly (2nd from right), to discuss how the social media network can help the Duterte administration in reaching out to internet-active Filipinos.

PRESIDENT Rodrigo Duterte ordered for the immediate repatriation and support for more than 600 overseas Filipino workers currently stranded in Saudi Arabia, Chief Presidential Legal Counsel Salvador Panelo said Tuesday.

“The problem on Filipinos overseas was discussed. The President stressed that the human side of the situation should be addressed with those stranded but want to go home being repatriated immediately,” Panelo said, relating developments during the last Cabinet meeting Monday.

“The President has already ordered [presidential adviser

on OFW concerns Abdullah] Mamao to fly immediately to Saudi and fix the plight of the OFWs,” he added.

Labor Secretary Silvestre Bello III earlier recalled the country’s labor attachés in Riyadh and Jeddah over their alleged inaction on the plight of stranded and retrenched Filipino workers there. Both denied failing to perform their duties.

Bello, who flew to the Middle East to personally see the situation of the distressed OFWs, said he was disappointed at how the two officials addressed the plight of Filipino workers who were stranded either because their permits had expired or they were still waiting for their unpaid wages.

vs BSM officials dismissed THE Department of Justice has dismissed for lack of merit the obstruction of justice complaint that a parent filed against officials of the British School Manila after her son jumped off the school building in Taguig City in February last year.

In a resolution dated June 16, 2016, the DoJ noted that the complaint was predicated on the death of Mrs. Trixie Madamba’s 18-year-old son, Liam Madamba, a BSM student.

Based on records, Liam died of cardiac arrest as a result of his jumping off a building on Feb. 6, 2015 but no criminal investigation was initiated relative to Liam’s death and no criminal charges were filed against his teacher Natalie Mann.

The DoJ emphasized that there being no criminal investigation, there is no basis for obstruction of justice as there could be no investigation to obstruct, impede, frustrate, or delay. Otherwise, it would be too general, amounting to a fishing expedition which would run contrary to the purpose of Presidential Decree No. 1829.

The DoJ likewise ruled that there was no obstruction of justice committed when Mann was allowed to go on a leave of absence and eventually resign from BSM because she could not be considered a suspect for any criminal violation in relation to Liam’s death.

A careful examination of affidavits from Mrs. Madamba likewise showed that the evidence presented was contradicted by a second student involved in the incident and did not even pass the test of probable cause for any crime that the complainant alleged.

A4

Opinion

WEDNESDAY, AUGUST 3, 2016

mstdaydesk@gmail.com

Adelle Chua, Editor

EDITORIAL

Walking the walk and chewing gum

I

T WAS once said of the accident-prone US President Gerald Ford that he couldn’t walk and chew gum at the same time. The quote is a sanitized version of what US President Lyndon Johnson really said about Ford, but the idea was the same—unfairly characterizing him as someone who was so dim-witted and clumsy that he could not do two things at the same time.

Today, a third of the way through his first 100 days in office, President Rodrigo Duterte needs to demonstrate that he can, as it were, chew gum and walk at the same time.

So far, he has proved he can

mount an aggressive anti-drug campaign nationwide, which he promised during the campaign.

While human rights groups denounce the growing bodycount of suspected drug dealers, there is no doubt about this President’s ability and determination to prosecute this war.

But Mr. Duterte has many other balls in the air—and he and his Cabinet need to assure the public this early that they can catch them deftly, and not allow them to fall to the ground.

For example, the President has made significant overtures to communist rebels, but has allowed a single incident—and ambush on a group of militia-

men in Davao del Norte—to cast a shadow on the coming peace talks.

The President has also initiated a campaign to shift the country’s form of government, from a unitary presidential system, to a federal parliamentary system. These efforts, however, have been slowed down by his abrupt change of heart to pursue Charter Change through Congress, sitting as a Constituent Assembly, rather than his original proposal to hold a Constitutional Convention with elected delegates.

Finally, the President has said all the right things about restoring the concept of public

service and the need to focus on improving the lives of ordinary Filipinos, who have had to put up with years of high taxes, corrupt and inefficient bureaucrats, dilapidated commuter trains and airports, poor and expensive telecommunications services, and unspeakable traffic congestion.

But saying and doing are two different things altogether, and the Cabinet secretaries who must address these problems have been largely silent on how they plan to translate the President’s words into action.

For example, anyone who drives knows what a mess the Land Transportation Office is.

In fact, Mr. Duterte himself has identified the LTO as one of three of the most corrupt government agencies. Yet we have not heard from Duterte’s new LTO chief how he plans to solve the huge backlog in drivers licenses and license plates—some of them years delayed—that the Aquino administration delinquently allowed to pile up.

As the Duterte administration approaches the halfway mark of its first 100 days, it’s time to show the public that the wheels are all turning—and that this President can do more than one thing at a time and do each thing well.

BACK CHANNEL ALEJANDRO DEL ROSARIO

‘Summary killing’

Zombie attack IT’S one thing to pine for the return of the Yellow regime on social media. And quite another to use holdover partisans in government instrumentalities to revive dead legal actions to get back at perceived political enemies of the late, unlamented Aquino administration—especially now that a new government is already in place.

The Court of Appeals has restrained the Securities and Exchange Commission from implementing an order of the latter agency’s Enforcement and Investor Protection Department finding businessman Roberto “Bobby” Ongpin guilty of insider trading. The appellate court granted Ongpin’s request for an order restraining SEC from imposing its penalties of a P174million fine and disqualification from sitting on the board of any publicly listed company in connection with the sale of the businessman’s shares in Philex Mining to the group of Manny Pangilinan; Ongpin was also or-

dered to resign any directorships that he currently held, the last two probably constituting the harsher penalties for him.

Here’s the kicker: The insider trading case against Ongpin is the same one originally filed against the businessman for allegedly securing a behest loan from the Development Bank of the Philippines to fund his purchase of the Philex shares that were eventually sold to Pangilinan.

That case, involving Ongpin and a bunch of officers and board members of DBP, has already been dismissed by the Sandiganbayan for lack of evidence. But the dismissal of that case only brought SEC into the act, when it resurrected the action several months later as an insider-trading investigation against Ongpin.

Ongpin must have made some people in the Aquino administration really angry for them to pursue him even after the previous government is no longer in power. But unlike the Sandiganbayan

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The CA shuts down a last-ditch, rearguard effort by the Aquino administration to get Ongpin.” case, which went nowhere even if it was prosecuted when Noynoy Aquino was still president, the SEC case proceeded without letup, until the agency’s enforcement department came up with a ruling last year that Ongpin was guilty of insider trading.

The department found that Ongpin committed the offense last year, recommending a P17.4-million fine against him.

Only last July 8, the SEC en banc modified that order and

Benjamin Philip G. Romualdez Former Chief Justice Reynato S. Puno Anita F. Grefal Maan Ilustre Edgar M. Valmorida

issued the stiffer, tenfold monetary penalty that the higher court stopped it from imposing for the same offense.

The agency’s plan to succeed where the Ombudsman and the Sandiganbayan have both failed by converting the case into one of insider trading is obviously flawed. Indeed, the SEC department only issued a show-cause order on Ongpin on Nov. 12, 2014, a full five months after the Sandiganbayan dismissed the behest loan case against Ongpin and DBP officials led by its former chairman, Reynaldo David, for lack of evidence.

And by then, as Ongpin pointed out to the appellate court, the SEC’s own rules made it impossible to sue him for insider trading, since the period of two years between the alleged commission (in 2009) and the filing (in 2014) had already long lapsed. The SEC case was obviously a last-ditch, rearguard effort by the Aquino administration to get Ongpin.

Of course, the reason why the

Chairman Board Member & Chief Legal Adviser Treasury Manager Advertising and Marketing Head Circulation Manager

Aquino administration has the hots for Ongpin is because he was long believed to be fronting for former First Gentleman Mike Arroyo in the Philex buy-and-sell stock deal. But that has already been conclusively disproven in the case that the Ombudsman filed against Ongpin in the Sandiganbayan, which focused on a P660-million loan that the businessman secured from DBP to fund part of his stock purchase.

Like the Ombudsman’s half-baked case against Ongpin, which buckled under the weight of the disclosure that DBP’s made P1.4 billion out of its original P660-million loan (making it probably the most profitable behest loan DBP or any other bank ever made), the SEC’s decision is not expected to get anywhere. Of course, you can’t really stop the Yellows and their remaining zombie minions in agencies like SEC from carrying on, even if their principal has already left the building.

Turn to A5

Rolando G. Estabillo Publisher Ramonchito L. Tomeldan Managing Editor Chin Wong/Ray S. Eñano Associate Editors Francis Lagniton News Editor Emil P. Jurado

“ABOLISHING the party-list component in Congress is like summary killing,” said Buhay Party-List Rep. Lito Atienza.

He was expressing his view in response to a question by Channel 5 anchor Cheryl Cosim in the early morning news.

It was obviously an aside to the unabated extra-judicial killing of suspects, the death toll of which has reached more than 400 and still counting since President Rodrigo Duterte’s all-out war against illegal drugs.

While Atienza acknowledged that the Commission on Elections needed to cleanse the party-list roster, he said totally abolishing the congressmen representing the marginalized sector of society is a big mistake. He also said that the President, citing the case of Mikey Arroyo representing security guards, was the worst example to denigrate the work of partylist members.

“In many instances,” Atienza pointed out, “it’s the partylist members in Congress who are at the forefront of raising questions about major bills that could have been railroaded by the sheer majority.” He cited the fiscalizing of Reps. Neri Colmenares (Bayan Muna), Jonathan dela Cruz (Abakada) and of course his own Buhay Party-List which opposed the Reproductive Health bill for its embedded abortion intent and the constitutionally flawed Bangsamoro Basic Law initiated by the previous Aquino administration. Had it not been for these vocal opposition party-list members and Senator Ferdinand Marcos Jr.’s scrutiny, the Aquino administration could have rammed the BBL down the people’s throats.

Atienza also cautioned against entrusting charter change to congressmen whom Duterte wants to convene into a Constitutional Assembly. House Speaker Pantaleon Alvarez apparently already got his marching orders from the Palace to carry out a plan to railroad charter change using its supermajority in the chamber. Alvarez said only 50 congressmen can do the work of changing the charter. These are, of course, Malacañangdesignated congressmen ready to do the President’s bidding.

But what else is new? This was the scheme of things during Noynoy’s administration.

So it will be in Duterte’s term.

Atienza said there are major amendments like the proposed federalism and parliamentary

Joyce Pangco Pañares Adelle Chua Romel J. Mendez Roberto Cabrera

Chairman Emeritus, Editorial Board

Turn to A5

City Editor Senior Deskman Art Director Chief Photographer

Opinion TO THE POINT EMIL P. JURADO

Ongpin’s restraining order THE appointment of former President Fidel V. Ramos with former Interior and Local Government Secretary Raffy Alunan to negotiate with China over the prolonged dispute over the South China Sea shoals and islets was no doubt a masterstroke on the part of President Rodrigo Duterte.

Ramos has the credentials to negotiate with China, and Alunan has studied the issue well.

President Duterte could not have chosen better people to represent the country in such a sensitive and critical matter.

Now, whether or not bilateral talks with China can resolve the dispute over its nine-dash line claim over the South China sea is another matter. The Permanent Court of Arbitration in The Hague may have decided in our favor, saying that China’s claim did not have legal basis. Whether this could serve as the basis for negotiation is another matter.

China has rejected the decision, saying it is null and void. So what can Ramos and Alunan still negotiate? China insists that the islands, islets and shoals have belonged to it since ancient times. Note that occupation is 99 percent ownership.

The only positive thing that I see is that negotiations will ease the tension. Remember how President Duterte said we should not flaunt (our victory) or taunt (China). *** On Monday, the 13th Division of the Court of Appeals issued a temporary restraining order on the Securities and Exchange Commission, preventing it from enforcing its en banc decision on the 2009 Philex Mining insider-trading case against former Trade Minister and international businessman Roberto “Bobby” V. Ongpin.

In its decision, the SEC— some commissioners of which are minions of former President BS Aquino—ordered Ongpin to pay P174 million for alleged insider trading.

The amount is higher than the recommendation of the SEC’s Enforcement and Investor Protection Department.

The SEC order also disqualified Ongpin from being an officer, member of the board, or person performing similar functions of a publicly-listed company. As such, Ongpin was ordered to relinquish and resign from any or all positions he is presently holding.

Actually, Bobby Ongpin, my former student at the Ateneo High School during the early 50s, is not new to controversies. This is because of his close ties with former First Gentleman Mike Arroyo.

This was, in fact, why he was charged by Aquino minions at the Development Bank of the Philippines as guilty of obtaining “behest loans” amounting to P556 million. In fact, the loans were paid before maturity and the bank earned P1.4 billion from the transaction.

Ongpin was also charged with committing insider trading.

The harassment and persecution of Ongpin went on for years until 2014 when the Sandiganbayan dismissed all cases against him. The antigraft court found no probable cause against Ongpin and said the Ombudsman should not have filed them in the first place. But it seems Aquino’s minions at the SEC have not given up.

We have here a clear pattern of harassment and prosecution.

The DBP was then headed by Jose Nuñez Jr., a protegé of Salvador Zamora, the biggest contributor of Aquino during the 2010 elections.

Seeking a TRO from the Court of Appeals, Ongpin also raised the substantive issues on what acts are punishable as insider trading as well as the prescription of the administrative charge. The administrative case against him had already prescribed.

Zombie...

From A4

The officials of the previous government who now no longer enjoy the protection of the vindictive head of government who encouraged them to file these half-assed legal actions knew from the very beginning that they were prostituting themselves to please the Yellow idol. That is why people like Antonio Trillanes, Leila de Lima and Conchita CarpioMorales are now wondering how and when they, too, will suffer the same fate.

I think not a few people are also waiting for the day when Aquino himself will be made to account for all the persecution through malicious prosecution, among other anomalies, that he ordered during his term. Here’s hoping that they will not have too long to wait.

*** The various plunder cases filed by the Aquino administration over the years against its Enemy Number One, Gloria Macapagal Arroyo, established the template for the other charges it filed against those it wanted to persecute through the justice system. But because the previous government never really built up proper cases that would stand up in actual courts of law, for all its bluster and braggadocio, it often had to content itself with making life difficult for its targets—if they can’t be convicted, at least let them suffer while they are prosecuted, the thinking in those abnormal times went.

This was very clearly a case of harassment and persecution.”

From my knowledge of the law, Ongpin can countercharge SEC for besmirching his reputation. He can also sue SEC chairman Teresita Herbosa for harassment and persecution since the Sandiganbayan had already cleared Ongpin of insider trading.

In its restraining order, the appellate court set the hearings of the merits of the case for Aug. 23 and 24, 2016. The law firm of former Justice Secretary Estelito Mendoza has entered its appearance as collaborating counsel on behalf of Ongpin.

Another instance of harassment and persecution during the tenure of former President BS Aquino was that of Bases Conversion and Development Authority headed by Arnel Casanova and its Aquino-appointed board of directors.

Because of Casanova’s bias and prejudice against Bob Sobrepeña, chairman of the Camp John Hay Development Corp., the firm that won the bid in 1996 to develop the 275 hectares of the former American base, tourism in Baguio suffered. Worse, 25 percent of the income supposedly generated by the development never materialized.

Despite the Court of Appeals ruling last July 30, 2015 upholding the third-party rights of 1,631 investors, the BCDA under Casanova insisted that it owned all developments within the camp and that possessors in good faith—not even a party to the controversy— must relinquish their rights.

The case is now on appeal

by Casanova to the Supreme Court. It seems that the justices, however, are not in any hurry to rule on the issue.

WEDNESDAY, AUGUST 3, 2016

A5

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SEC vs. RVO: Round one for Ongpin VIRTUAL REALITY TONY LOPEZ WHAT is insider trading?

The Court of Appeals on Aug. 1, 2016 stopped the Securities and Exchange Commission (SEC) from enforcing its July 8, 2016 en banc decision banning tycoon Roberto V. Ongpin (RVO) from being an officer or a director of any listed company and fining him P174 million for alleged insider trading in connection with his purchases on Dec. 2, 2009 of 17.98 million shares of Philex Mining before he sold the same shares to Manuel V. Pangilinan of PLDT and First Pacific which acquired controlling interest in the listed mining giant.

The CA ruling is a major setback for the SEC, the country’s corporate and stock market regulator. Before Ongpin, no one had been penalized for alleged insider trading with such severe penalty and so astronomical a fine.

Ongpin’s case before the CA should establish jurisprudence on what exactly is insider trading. When it is legal and when it is not.

Under the SEC ruling challenged before the CA, the management whiz is virtually banned from owning and managing any listed company.

Since listed companies are the crème de la crème of Philippines, Ongpin runs the risk of not owning any business at all.

Since the stock market is a major source of interest-free funds for company operations and expansion, he is also denied use of equity financing.

Ongpin, 79, of course, wants to clear his name and arrest damage to his reputation. He was educated by the Jesuits and at Harvard.

As its youngest chair and managing partner, from 1964 to 1979, he helped build SGV into the largest accounting

SO I SEE LITO BANAYO TRITE though this adage may sound, “strike while the iron is hot” seems to be the guidepost of the new Duterte administration.

It’s about “hitting the ground running” in the war on drugs.

And don’t say the new leader did not warn the public. He kept saying “it will be bloody” even during the campaign.

Some of us winced when he described in campaign platforms and other fora, how he would fight the drug menace, thinking about the reaction of the religious groups, the human rights activists, and media.

They did react, they did warn, but at the end of the day, Rodrigo Duterte proved that he read the public mind, and sensed the public mood, better than all of us who thought we knew what political strategy and communication sound bytes meant.

He spoke publicly about ending “endo.” The other candidates for president followed with their own chorus of similar promises. But only Duterte seemed resolute, or so the voters thought. And now these voters are hearing the promise repeated, with their new President warning employers who will be found abusing the law on contractual work: “Stop

‘Summary...

From A4 form of government plus game changing rules on economic and trade policy that cannot be left to a group of lawmakers with varied vested interests. Atienza is a former member of parliament in the Batasang Pambansa during the martial law regime and a six-term party-list congressman. These attest to his background in legislative work.

A major issue which Atienza expressed concern over was the crafting of an implementing law on political dynasties, pointing out that congressmen undoubtedly won’t work against their own interests to end this politi-

firm in Asia and the largest professional services enterprise west of the Mississippi.

He left SGV to join Ferdinand Marcos’s cabinet as minister of trade and industry for seven years, 1979 to 1986. In such capacity, he designed the road map for Philippine industrialization. He also raised rescue funds following the eco-political crisis of 1983-85. He is probably the only Filipino who had ever negotiated with the late Saddam Hussein in person. To me, Bobby is a genuine Filipino and a true patriot. He has always had the interest of the country at heart. Ongpin has brought that culture of hard work, professionalism, excellence and gung-ho dynamism to build his own conglomerate around property, high-end resorts, mining and investments.

To fight SEC, Bobby has recruited the best lawyer in the land, Estelito Mendoza who has had a string of stunning victories before higher courts of the land. That is how serious Bobby is in defending his reputation from the slings and arrows thrown by the outrageous SEC. In its Aug. 1 restraining order, the Court of Appeals said: “The petition raised substantial issues on what acts are punishable as insider trading as well as the question on prescription of the administrative charge.

“Gauging from the complexity of the matters at hand and seeing that the circumstances in this case present an urgent and paramount necessity to present serious damage upon petitioner Ongpin since the assailed Decision of the SEC en banc may, at any time, be implemented pursuant to Section 12 of Rule 43 of the Rules of Court, we resolve to grand the prayer for the issuance of a temporary restraining order.

“In so ruling, we considered not the amount to fine imposed upon Ongpin but the penalty of disqualification and the order for him to relinquish or resign from the positions of director or

officer, the extent of which effects not the company PHILEX, but all other public and publicly listed corporations.

“The damage to be suffered, if any, is not quantifiable in terms of monetary value and cannot be remedied under any standard compensation.”

CA has called for hearings on August 23 and 24, 2016.

In seeking remedy from the CA, Ongpin recalled talks as early as the last quarter of 2008, both in the Philippine Stock Exchange (PSE) and in print media that investors were negotiating for the sale of Philex treasury shares, about 20 percent of the corporation’s issued shares. In other words, the sale of Philex was public knowledge before Ongpin entered the picture.

On Nov. 28, 2008, PSE was informed by Philex that it had already sold 778,620,792 treasury shares in favor of the Hong Kong-based First Pacific Company Ltd. (First Pacific or FP), where Manny V. Pangilinan (MVP) is managing director and CEO. MVP wanted 40 percent control. First Pacific had only 31.5 percent. As it happened, Ongpin held the key to FP’s gaining control. In November 2009, FP talked to Ongpin in an attempt to buy his then 6.5 percent of Philex. The talks dragged on until FP finally made a tentative offer of P21 per share.

Ongpin maintains that there was yet no final and binding agreement regarding several matters, including: the number of shares to be sold; the manner and timing of payment; and the manner and timing of delivery of the shares. Without any definite agreement with MVP’s group, Ongpin had no obligation to reveal anything about the negotiations to the PSE and the public because at that point, he had no material information to disclose.

In the morning of Dec. 2, 2009, Ongpin, thru his company Goldenmedia, acquired 45,964,500 more of Philex shares at the stock market at the price of

P19.25 to P19.50 per share.

In the evening of Dec. 2, 2009, First Pacific and Ongpin finally signed the agreement.

Ongpin would sell his shares in Philex to FP. The stake held

by Ongpin and Goldenmedia, along with that of four (4) other sellers, enabled First Pacific to finally acquire 40.7 percent and control of Philex.

Five years later, on Nov. 12, 2014, the SEC’s EIPD (Enforcement and Investor Protection Dept.) issued a show cause order to Ongpin to explain why no administrative sanctions should be imposed upon him for violating his fiduciary duty as director of Philex and for committing insider trading, which is prohibited under Section 27.1 of the Securities Regulations Code.

Ongpin filed his Answer dated Nov. 28, 2014.

On March 10, 2015, the SEC’s EIPD found Ongpin liable for insider trading. He was told to pay P174-million fine and to relinquish and/or resign from all current positions as officer and member of the board of directors.

Ongpin appealed the adverse ruling to the SEC en banc, but the latter upheld the EIPD’s order.

Ongpin wanted a CA for two reasons: the SEC case of insider trading had lapsed, having missed the deadline under the Securities Regulations Code, which is “within two (2) years after the discovery of the facts constituting the cause of action and within five (5) years after such cause of action accrued.”

Ongpin called the matter of extreme urgency as “he stands to suffer irreparable damage because his disqualification from acting as director and officer in any public or publicly listed company creates a negative impact on his reputation as a businessman, which damage is not quantifiable and compensable.” biznewsasia@gmail.com

Political will contractualization. Don’t wait for me to catch you because I will be unforgiving…I’ll just simply close your plant.”

Defining what is acceptable under the law and what is not the new President will leave to his appointees in the Labor department and his economic managers. But the word is clear, and the will resolute: weigh in favor of the marginalized workers.

Another campaign promise is on the way towards implementation. And that is a revision of the present fundamental law of the land. Duterte favors a shift to a federal system. He began talking about the need to go federal as early as 2014, and anchored his introduction to the national public by going around bandying, in kilometric speeches, the need for a shift from the highly centralized unitary system first imposed by the colonizer Spain and followed through by the next colonizer, America, and thence institutionalized by the ruling politico-economic elite across our several republics.

And on this, he is showing resolute will once more. He discussed it in his State of the Nation Address. Prior to that, he spoke to our Muslim brothers to temper their impatience about the failed BBL, because he had federalism as a card to redress the historical injustice

that rankled in their hearts.

Before Congress last week, he argued for the retention of a president elected at large by the people, reading well the sentiment that every Filipino wants a day when his vote is supreme in the choice of a leader.

A few days later, impatient for change to begin, he argued for a constituent assembly made up of the present members of Congress instead of electing delegates to a Constitutional Convention which would be “too costly.”

The debates have now centered on whether spending much for a separate body of delegates is worth every centavo, as against entrusting the revisions of the fundamental law to a cabal of dynasts and the political elite.

Whatever and however both houses of Congress and the Executive eventually hammer out, the message is clear: changing the Constitution is not a question of fact, only of how. And the question of when is answered simply: now.

And all of these have happened within the first 30 days.

How is that for amazing pace?

There is a trite descriptive for all these, and it is “political will.”

Some critics will say the new leader is plain bull-headed, even unreasonable. But after

years and years of leaders who waffle, who prevaricate, who paralyze action through unending analysis, Rodrigo Roa Duterte is a welcome change to the “super majority” of this nation.

This is not to say he cannot step a bit backward, as in the Maoist line of “one-step backward, two steps forward.”

Speaker Pantaleon “Bebot” Alvarez publicly called for a “preparatory commission” of wise men who could be formed to move around the country and seek public consensus towards the parameters of fundamental change. The names he mentioned are both learned and respected. Surely this would be welcome enough to those who fear that the representatives they “elected” themselves just three months ago cannot be properly entrusted to navigate towards real change.

Add to that the need for a massive information campaign that must be immediately launched to inform the public about the needed changes in the Constitution of the land and the merits of a federal system.

It won’t be an easy debate.

Even Duterte has no illusions about ramming through a new system. But he and his leaders in Congress have started the ball rolling.

Change has come.

cal anomaly.

What does Atienza think about Duterte’s unilateral ceasefire and the President’s sudden withdrawal of his own initiative when the communist rebels didn’t meet his deadline to explain the deadly Davao ambush?

“Well, Joma Sison has a point.

The President can’t just say he’s ordering a unilateral ceasefire without coordinating this with the other side,” said Atienza.

The President, in his first State of the Nation Address, stunned everyone when he announced a unilateral ceasefire without specifying details and disregarding the process and protocol of such a major decision.

Sison in his overseas inter-

view, called the President’s decision-making as “volatile” and Duterte’s behavior as that of a bullying “butangero” (hoodlum).

The exiled communist leader’s remark was by far the most cutting said of his former student at the Lyceum University.

“He [Duterte] cannot just give an ultimatum to the NDF-NPA to explain the fatal ambush of CAFGU [auxiliary] government troops in Davao like the rebels were his “muchachos “ whom he can fire for not complying immediately with his order. Sison added the CPP-NPA forces are ideologues who take their orders from party higher-ups with their own set of rules. Luis Jalandoni, a ranking National Democratic Front member, said

in Utrecht, Netherlands that it was the Armed Forces of the Philippines that didn’t observe the ceasefire when government troops continued their military operations in Southern Mindanao.

With Sison’s acerbic comment on Duterte’s style, the prospects of peace talks and the communist leader’s coming home to Manila now appears bleak unless the mercurial President shows he can take criticism in stride. But this looks remote because even his own circle of friends said the President is cold to taking advice from them. Hence we are witness to seeing and hearing unpresidential, off-the-cuff and quotable comments.

Sports

A6

WEDNESDAY, AUGUST 3, 2016 sports_mstandard@yahoo.com

USA cage stars rip Nigerians, 110 to 66 LOS ANGELES—The USA, gunning for their third straight Olympic basketball gold medal, wrapped up their pre-Summer Games exhibition series with a dominating 110-66 win over world number 25 Nigeria on Monday night.

The Americans’ buildup to the Rio de Janeiro Games included five straight exhibition wins, but just one came against an opponent ranked in the top 10 in the world. They easily beat No. 4 Argentina, No. 14 China twice and rolled over No. 22 Venezuela by 35 points.

“We played good defense and it led to some fast breaks,” head coach Mike Krzyzewski said.

“Our team is very deep. The most versatile team we have had.”

Despite the absence of NBA stars LeBron James and Stephen Curry, Krzyzewski’s squad is favored to win a third consecutive gold.

A half-dozen Americans finished in double figures Monday, including Carmelo Anthony, who tallied a team high 19 points.

Klay Thompson (17), Kevin Durant (14), DeMar DeRozan (13), DeMarcus Cousins (10) and DeAndre Jordan (10) also finished in double figures. Kyle Lowry had 11 assists and Jordan grabbed nine rebounds in the victory at the Toyota Center arena in Houston, Texas.

“It was good way to close it out. Now the big show starts and we got to lock in,” Anthony said.

He also complained Monday about the basketball they are going to using during the Rio Games, saying he prefers the heavier NBA ball.

“It is lighter and more slippery,” Anthony said. “When it gets wet it is harder to control.

That’s a ball you really have to get used to.”

Point guard Kyrie Irving (bruised left thigh) and Paul George (left calf) sat out with injuries on Monday. Irving injured his thigh when he collided with a Venezuela player during Friday’s contest in Chicago.

Venezuela is in the firstround group with the USA, China, Australia, France and Serbia.

Sports court race to hear Russia Olympic ban cases R

IO DE JANEIRO—The international sports tribunal raced Monday to decide appeals by Russian athletes against their ban from the Rio Olympics with the opening ceremony just four days away.

The restricted opening of a new metro line for the Olympic zone also highlighted the struggle cash-strapped Rio organisers have faced to get Games stadiums and facilities ready and cleaned up on time.

Swimmer Yulia Efimova and wrestler Viktor Lebidev registered appeals at the Court of Arbitration for Sport (CAS) taking the total number of Russian challenges to International Olympic Committee sanctions to four,

with more possible.

Cases involving swimmers Vladimir Morozov and Nikita Lobintsev, who won medals at the 2008 Beijing and 2012 London Games, were to be completed on Monday when the hearing of Efimova, who took bronze in the 200m breaststroke in London, was to start.

Seven Russian swimmers were banned from Rio by FINA after the IOC ordered sporting federations to exclude any Rus-

sian competitors implicated in an investigation into Russia’s doping scandals by Canadian lawyer Richard McLaren.

McLaren’s report for the World Anti-Doping Agency (WADA) said there was a stateorganised doping scheme in Russia, with the secret service helping the sports ministry to manipulate samples.

At least 117 of the 387 competitors Russia had wanted to send to Rio have been excluded.

In parallel there have been recriminations over who is to blame for the huge doping controversy revealed in a Geman television documentary in 2014 and now casting a shadow over the Rio Games.

IOC president Thomas Bach

rejected suggestions at a press conference that the chaos represented a “huge failure” for the IOC. “The IOC is not responsible for the timing of the McLaren report,” he said in a veiled attack on WADA. “The IOC is not responsible for the fact that different information which was offered to WADA already a couple of years ago was not followed up.”

Russian anti-doping agency whistleblower Vitaly Stepanov says he first began passing information to WADA in 2010.

WADA has said it did not have the power to act on the information and insisted that its priority was to protect Stepanov and his wife Yulia Stepanova, who

Nepal’s Singh is games’ youngest

Members of Russia’s Olympic team wait to receive blessings from Russian Orthodox Patriarch Kirill during a religious service at a cathedral in the Kremlin in Moscow. President Vladimir Putin said Wednesday the absence of top Russian competitors will “markedly lower” next month’s Rio Games, as he met competitors set for Brazil and those barred over state-run doping. AFP

Walker soars up world Mugging scene sparks controversy rankings after PGA win PARIS—Jimmy Walker jumped up 33 places in the world golf rankings on Monday thanks to his tense PGA Championship victory over Jason Day at Baltusrol.

The 37-year-old American has moved back into the top 20 for the first time since last October at number 15, after holding his nerve with a par at the last to win by one shot on Sunday.

Australia’s world number one Day strengthens his position at the top of the rankings, despite seeing his stunning eagle on the 72nd hole not prove enough to successfully defend the title.South African Branden Grace put together an exciting charge into contention in the PGA, and he is rewarded with a return to the world’s top 10.

World golf top 20 on August 1: 1. Jason Day (AUS) 14.08 average pts

are now in hiding in the United States.

Bach said the IOC was not responsible for the accreditation or supervision of anti-doping laboratories in Russia.

“So therefore the IOC cannot be made responsible neither for the timing nor for the reasons of these incidents we have to face now and which we are addressing and have to address just a couple of days before the Olympic Games,” Bach said.

But he insisted the doping scandal would not taint Rio. “I don’t think this event will be damaging. I trust people will realise the difficult situation we are in. We did our best to address the situation in a way to protect clean athletes.” AFP

2. Dustin Johnson (USA) 11.30 3. Jordan Spieth (USA) 10.67 4. Rory McIlroy (NIR) 9.02 5. Henrik Stenson (SWE) 8.95 6. Bubba Watson (USA) 6.86 7. Rickie Fowler (USA) 6.40 8. Adam Scott (AUS) 6.37 9. Danny Willett (ENG) 5.96 10. Branden Grace (RSA) 5.64 (+2) 11. Sergio Garcia (ESP) 5.42 (-1) 12. Justin Rose (ENG) 5.27 (-1) 13. Phil Mickelson (USA) 5.12 14. Patrick Reed (USA) 4.81 15. Jimmy Walker (USA) 4.54 (+33) 16. Louis Oosthuizen (RSA) 4.50 (-1) 17. Brooks Koepka (USA) 4.46 (+1) 18. Hideki Matsuyama (JPN) 4.45 (+1) 19. J.B. Holmes (USA) 4.34 (-3) 20. Matt Kuchar (USA) 4.30 (-3) AFP

RIO DE JANEIRO—A scene in the Rio Olympic opening ceremony that spectators at a rehearsal thought depicted an attempted mugging of supermodel Gisele Bundchen sparked a bizarre polemic in Brazil on Monday.

Details are top secret ahead of this Friday’s ceremony.

However, leaks following a dress rehearsal at Rio’s Maracana stadium late Sunday included multiple reports of a skit in which a mugger attempts to rob the Brazilian supermodel before police intervene and she forgives her assailant.

Ceremony organizers lashed out at the reports, saying they were inaccurate and violated requests to keep the content of the extravaganza under wraps until the last moment.

Brazilian newspapers, however, quoted witnesses saying that they were sure that the scene showed an

attempted street robbery—a surprising choice in an Olympic host city plagued by real life crime.

According to Folha de Sao Paulo daily, the Brazilian model struts out to “Girl from Ipanema,” a classic hit song celebrating a beautiful, young woman of Rio, and is “assaulted by an actor.”

“The final message from the scene, however, will be peace,” the report said.

One of the show’s masterminds, “City of God” movie director Fernando Meirelles, angrily denied the report.

“Folha de SP says Gisele is assaulted during the opening ceremony at the Olympics. Where does Folha get this dumb idea from? They messed up badly,” he tweeted.

The Olympic organizing committee told AFP in a statement only that “there is no robbery,” declining to explain further.

However, in a new twist late

Monday, a well connected columnist for Globo newspaper, Lauro Jardim, reported that the controversial scene was being axed.

According to Jardim, directors had meant to have the scene show a street vendor running up to Bundchen to sell her a bikini.

“On paper, it was perfect. At the rehearsal yesterday, however, it didn’t work,” the columnist wrote. “It gave the impression to those watching that it was about an assault. And from this it turned into a polemic on social media.”

‘Strange homage to Rio’ Among others reporting the supposed assault scene was the news site olimpiadas.uol.com.br, which reported that the model is “approached by an actor in a scene resembling an assault.”

“The boy [mugger] approaches the artist and is chased by policemen before returning close to Gisele and being protected by her,” the report said. AFP

RIO DE JANEIRO—Nepali swimmer Gaurika Singh, already a seasoned international competitor at 13, is poised to become the youngest Olympian in Rio when she hits the water in the 100m backstroke heats on Sunday.

“That’s quite cool, a bit unreal, too,” said Singh, who will be 13 years and 255 days old.

It’s not surprising the London-based schoolgirl, who swims for English club Barnet Copthall, is undaunted by the prospect. She has already lived through the 2015 earthquake that devastated Nepal, leaving nearly 9,000 dead.

“It was terrifying,” she said of the experience she endured with her mother, Garima, and younger brother Sauren while they were back in Nepal for the national swimming championships.

The family, in a fifth-floor apartment of a building in Kathmandu, sheltered under a table before using the stairs to leave the building as the aftershocks rumbled.

“Fortunately, it was a new building so it did not collapse like others around,” she said.

A friend of Singh’s father later set up a charity to help rebuild schools and she donated her winnings from the restaged championships.

“They made me a goodwill ambassador,” said Singh, who returns to Nepal about once a year to visit family.

She swam the 100m backstroke at the World Championships in Kazan, Russia, last August, and won four medals —three bronze and one silver—at the South Asian Games in India in February.

“It’s unbelievable that she’s the youngest Olympian in Rio and amazing how she copes with all the pressure,” said her father, Paras, who will be in Rio to cheer on the precocious star, who will be aiming to improve her own national record of 1min 07.31sec in the 100m back in Rio. AFP

SBP-Passerelle twin tournament in full swing Meralco Bolts’ Jimmy Alapag makes the ceremonial toss to open the 31st season of the SBPPasserelle as BEST Center founder Coach Nic Jorge and Rep. Mikee Romero look on.

SMALL Basketeers of the Philippines– Passerelle Twin Tournament is now in full swing for its 31st season.

Organized by the Basketball Efficiency and Scientific Training Center, the prestigious sporting event opened at the Fr. Rafael Cortina Gym in Xavier School, gathering hundreds of eager young athletes, parents and sports enthusiasts.

Leading the opening with BEST Center founder Coach Nic Jorge were Meralco Bolts player Jimmy Alapag and Rep. Mikee Romero, who were in full support of the basketball competition for kids.

“Sports, especially basketball, is a part of every Filipino’s life,” noted Alapag. “With this event, BEST Center provided a great opportunity for these kids to use their youthful energy for something positive, like basketball.”

“SBP is like the big leagues for kids ages 12 and below. So is the Passerelle for those ages 13-15,” said sportsman Rep. Romero, whose son is also joining the basketball event for kids. “With this tournament, kids can start developing their skills and values at a young age.

Aside from the physical exercise, they can also develop discipline, teamwork, and most especially, sportsmanship.”

“We are proud to organize this competition, and we will continue in doing so with great enthusiasm. With this age group, we are pleased to see young, eager athletes start their passion in sports at such an early age. It’s great that we can contribute to sports development in our country in our own little way. We are already looking forward to what these athletes are capable of doing when they grow up,” said BEST Center founder Coach Nic Jorge.

Sponsored by Milo, in cooperation

with Chris Sports, the tournament lured over 600 players from more than 150 schools nationwide to this year’s competition. Aside from the event held in NCR, other elimination games are being held in Luzon, Visayas and Mindanao to determine which teams will qualify for the regional championships. The best teams from each region will battle it out at the national finals.

Tentative schedules of the regional playoffs will be October 21 to 24 in Davao City for Mindanao, November 4 to 7 in Baguio City for Luzon, and November 18 to 21 in Roxas City for Visayas.

For more information about BEST Center’s classes and tournaments, call the hotlines 411-6260, 3723066 and 372-3065, email bestcentersports@gmail.com or follow its official Facebook page at https:// www.facebook.com/pages/BEST-CenterSports-Inc/66172039922.

Sports

A7

WEDNESDAY, AUGUST 3, 2016 sports_mstandard@yahoo.com

Mondilla, Asian aces clash in Aboitiz golf

C

LYDE Mondilla takes crack at the top two players in the Asian Development Tour Order of Merit ranking as the rising Filipino star drew No. 1 Pavit Tangkamolprasert of Thailand and No. 2 Johannes Veerman of the US at the start of the Aboitiz Invitational unfolding Wednesday at Wack Wack’s East course.

Clyde Mondilla: My focus is on my game. I need to start strong, actually in the first two days to be able to make the cut. Then, I’ll attack.

A two-leg winner on the ICTSI Philippine Golf Tour, Mondilla hopes to measure up with his fancied rivals as they slug it out at 7:30 a.m. on No. 10 with the young Del Monte shotmaker hoping to cash in on whatever advantage he has in terms of local knowledge of the challenging layout.

“I don’t give it much thought,

being paired with ADT’s top two players. My focus is on my game.

I need to start strong, actually in the first two days to be able to make the cut. Then, I’ll attack,” said Mondilla, who scored backto-back wins at Eastridge and Calatagan but slowed down in the next four legs of the PGT dominated by Tony Lascuña.

But Tangkamolprasert, the

current ADT OOM leader who nipped local ace Lin Wen-tang on the fourth playoff hole to snare the Yeangder ADT crown last April, is out to stamp his class, along with Veerman, also a playoff winner over Taiwanese Wang Wei-lun in the Taifong Open ADT two weeks ago, as they try to press their bid early for the needed momentum in what promises to be a four-day battle of shotmaking and putting over one of the country’s toughest courses.

The featured group is but three of a slew of players tipped to contend for the crown in the $100,000 event serving as the 18th leg of the ADT and 11th stage of the PGT with the chase for the top $17,500 purse put up

Suzara likes PH volley roster TALENT, height, heart and overflowing potential could be relied upon when the Philippines’ Magnificent 7 starts its campaign in the FIVB Women’s Club World Championship at the Mall of Asia Arena from Oct. 18 to 23.

Philippine Superliga president Ramon Suzara said he likes the composition of the team and expects it to blend seamlessly with the seven foreign players they will tap in this prestigious tournament where the world’s best club teams will see action.

After a month of deliberation, the PSL coaches, headed by training and development director Sammy Acaylar of Cignal, named wing spikers Rachel Anne Daquis and Jovelyn Gonzaga of RC Cola-Army and Frances Molina of Petron; middle blockers Mika Reyes of F2 Logistics and Jaja Santiago of Foton; setter Kim Fajardo of F2 Logistics; and libero Jen Reyes of Petron as members of the Magnificent 7.

Daquis, Gonzaga, Molina and Jen Reyes are veteran international campaigners after seeing action in the Southeast Asian Games and some Asian tournaments while the 6’5” Santiago and 5’11” Mika Reyes were tapped due to their ceiling and potential to become the country’s cornerstones in future major tournaments.

Fajardo is also a perfect addition as she is regarded as one of the brightest young setters in the country today. In fact, she reportedly impressed a pair of foreign coaches after leading La Salle to the UAAP title earlier this year.

“These players will be our future,” said Suzara, a ranking executive of the Asian Volleyball Confederation and the International Volleyball Federation.

“They are young, tall and very talented. We expect them to train hard, pick up some valuable lessons from their foreign counterparts and help our national team program in the future.”

Suzara noted that the Magnificent 7 was culled from a pool of 27 players nominated by eight PSL coaches.

Then, they joined a one-day tryout and were assessed based on their talent, skills and potential.

“Three to five years from now and these players will be the same players who will represent us in the Asian Games in 2018 and the SEA Games in 2019 that will be held here in Manila,” Suzara added. “So exposing them to a world-class competition is a major boost to their careers. It is the PSL’s humble contribution to the national team program of the LVPI (Larong Volleyball sa Pilipinas Inc.)” PSL chairman Philip Ella Juico added that more than their physical attributes, it is their character, fighting spirit and wholesome personality that make them perfect for this kind of competition.

by Aboitiz Equity Ventures, Inc. for the sixth straight year expected to go down to the last putt on Saturday.

But while the foreign cast, led by nine of the Top 10 players in the ADT OOM, looks daunting, the local roster remains as talentladen as ever with former twotime champion Elmer Salvador and former titlists Jay Bayron and Lascuña out to keep the Aboitiz crown at home.

“It will be tough with the best on the ADT competing but we are ready,” said Lascuña, actually the winningest local player this year with four victories on the PGT. “What we need is a strong start and then try to sustain it since the field is too strong.”

Pactolerin lifts team to pro-am win

A MULTIPLE-EXPOSURE sequence of Kyle Hendricks of the Chicago Cubs pitching against the Miami Marlins is shown during the ninth inning on at Wrigley Field in Chicago, Illinois. The Cubs won 5-0. AFP

Lady Stags, Bulldogs duel in V-League SAN Sebastian College shoots for the solo lead as it clashes with defending champion National University Wednesday in what is tipped to be a slam-bang duel of two of the fancied teams in the Shakey’s V-League Season 13 Collegiate Conference at the Philsports Arena in Pasig City.

Spearheaded by Open Conference and NCAA MVP Grethcel Soltones’ 20-point explosion, the Lady Stags downed the Perpetual Help Lady Altas, 27-25, 25-22, 25-22, in Saturday’s opener of the league sponsored by Shakey’s to seize the early lead in Group A. Unheralded Technological Institute of the Philippines, a third placer in the NAASCU league, joined SSC at the helm after it pulled the rug from under an injury-hit Ateneo side, 26-24, 14-25, 25-21, 18-

25, 15-12, late Monday night in the second playdate of the mid-season conference of the league backed by Mikasa as official ball and Accel as official outfitter.

Soltones will have her hands full against the Lady Bulldogs, who beat the Lady Eagles to win this championship last year and are boasting of Jaja Santiago and an emerging setter in Jasmine Nabor.

“We all know NU is tough,” said the 20-year-old Soltones. “But we will go out there and give it our best and enjoy the game.”

Gametime is at 6 p.m. after the 4 p.m. clash between a debuting University of Santo Tomas and San Beda College.

Both matches will be aired live over ABS-CBN Sports + Channel 17 or 23 and via streaming on sports.abscbn.com, according to the

organizing Sports Vision.

In the Spikers’ Turf Season 2 Collegiate Conference, powerhouse Ateneo launches it title-retention bid as it takes on San Beda at 12 noon while Perpetual Help battles newcomer Phl Merchant Marine School at 10 a.m. in a game that can be viewed live via streaming.

Interestingly, both SSC and NU are coached Roger Gorayeb, who has let his assistants, Clint Malazo of the Lady Stags and Edjet Mabayyad of the Lady Bulldogs take charge temporarily while he’s on vacation.

Unlike last year when it tapped Rubie de Leon and alumna Dindin Santiago-Manabat as guest players, NU decided to play with the same players it will field in the coming UAAP season set early next year.

Myla Pablo, the Finals MVP last year who recently powered

Games today

(Philsports Arena, Pasig) 10 a.m. – Perpetual vs PMMS (S Turf) 12 noon – Ateneo vs San Beda (S Turf) 4 p.m. – San Beda vs UST (V-League) 6 p.m. – NU vs SSC-R (V-League)

Pocari Sweat to the Open Conference crown of the league where it all started, has also graduated, leaving Jorelle Singh, Aiko Urdas and Fil-Japanese rookie Raisa Sato as spearheads of the top UAAP squad.

“This is a young team and this conference will serve as a test for everyone,” said Mabayyad, who steered NU to the Open Conference title three years ago.

Meanwhile, the Tigresses, mentored by Kungfu Reyes, set out against the Red Spikers with a talented core led by sisters EJ and Eya Laure and the diminutive but talented Cherry Anne Rondina.

August races and racing festivals THE HOARSE WHISPERER JENNY ORTUOSTE THE Philippine Charity Sweepstakes Office kicks off the month’s big horseracing events with its PCSO National Grand Derby on Aug. 14, Sunday, at Metroturf.

The mile race is open exclusively to 2YO PCSO maiden race runners of 2015. Those nominated are Dance Again, Yong Yong, Yes Kitty, Guatemala, He He He, and Total Defiance.

The following Sunday, Aug. 21, will see the 8th edition of the Mayor Ramon Bagatsing Festival at San Lazaro Leisure Park, highlight by the Mayor

Ramon Bagatsing Cup Divisions I and II, and the Philracom 5th leg Imported/Local Challenge race over 2,000 meters.

The Sunday after that, Aug. 28, the Philracom 1st leg Juvenile Fillies and Colts stakes will be held over 1,200 meters at Santa Ana Park.

We remind interested horseowners to be aware of the schedules for the nominations and declarations for these races, as well as for next month’s Japan Racing Association Cup and the Philracom Lakambini Stakes. *** As for the sport’s other racing festivals, Klub Don Juan de Manila is preparing as early as now for their KDJM Racing Festival, usually held in

October, while the MARHO Cup Championships are traditionally held in November and Philtobo’s racing festival in December.

Such big events need a lot of lead time, although the staff of each of these horseowners’ groups are used to working under pressure. It’s difficult to prepare far in advance of the event date, because for some inexplicable reason, some sponsors only decide about their participation days before the race, leaving organizers scrambling frantically to include their logos on tarps and other advertising material.

Yes, I speak from experience. Organizing a racing festival is exhausting and nervewracking, but it’s all worth it

to see the pomp and pageantry on event day, and the shining smiles all around.

I always want to decorate with balloons but only got to do so once, and not during a racing festival, but at Philtobo’s first awards night in 1998 (it wasn’t called Gintong Lahi yet then). Balloons are a no-no outdoors at a racing festival, because if they pop the sound might scare the horses, and the bobbing of the colored balloons might spook or distract them. Same goes for flash photography, anything that might make sudden loud noises, and blinking lights. *** Facebook: Gogirl Racing, Twitter:@gogirlracing, Instagram: @jensdecember

ROBERT Pactolerin flashed his familiarity with the Villamor Golf Club course as he and amateur partners Don Matti, Marbon Gonzales and Joel Casanova combined for 138 to rule the first President’s Invitational Pro-Am Cup at the Pasay layout recently.

Juanito “Pagunsan with Jeffrey Tan, Andrea Zumuko and Inquirer Golf’s Adrian Flores placed second with a 139 while Fred Superal, SPGAP secretary, and partners Ed Yap, Barton Chua and Jovie Susano assembled a 140 to finish third in the 18-hole tournament staged by the new Senior Professional Golf Association of the Philippines (SPGAP) board.

Pactolerin, a many-time Masters champion at VGC, also led the individual winners as he dominated the seniors division in the event sponsored by Eight Inc., Ka Tei Solar, Chintain Hosho and Jajeco Products.

Pagunsan, father of top pro Juvic, took the super senior plum, Ricky delos Santos copped the men’s diadem, Arlene Ward ruled the ladies side while Jet Hernandez emerge as the top jungolfer in the tournament backed by GCHI International Mercantile, Rhel Gomez, Lucent Evermore Estate Dev., Dr. Evna Blazado, Tony Arevalo, Alex Prieto, Atty. Marcelo and Mr. Isip.

Stoudemire un-retires NEW YORK—Less than a week after announcing his retirement, former National Basketball Association star Amar’e Stoudemire said Monday he is continuing his career in Israel.

“I may be retiring from the NBA, but I’m not saying goodbye to basketball just yet. My next step is playing for Hapoel Jerusalem, one of the top teams in Europe. This isn’t about collecting a paycheck overseas though; it’s a spiritual journey, too,” Stoudemire said.

Stoudemire, 33, said at a news conference Monday in New York that he would sign a two-year deal with Hapoel Jerusalem, the team he co-owns.

As part of the deal, American sports broadcaster ESPN reported he will sell his ownership shares that he purchased in 2013. AFP

LOTTO RESULTS

6/49 00-00-00-00-00-00 6/42 00-00-00-00-00-00 6 DIGITS 0-0-0-0-0-0 3 DIGITS 0-0-0 2 EZ2 0-0

P0.0 M+ P0.0 M+

Riera U. Mallari, Editor Reuel Vidal, Assistant Editor sports@thestandard.com.ph sports_mstandard@yahoo.com

A8

WEDNESDAY, AUGUST 3, 2016

Ladon, Suarez looking sharp

Sports

By Ronnie Nathanielsz PHILIPPINE Rio Olympic boxing hopefuls light flyweight Rogen Ladon and lightweight Charly Suarez “are looking very sharp,” according to Association of Boxing Alliances of the Philippines’ executive director Ed Picson.

“They are in competitive form and I’m happy with what I saw,” Picson told the Manila Standard.

He said they are eating well.

“They were the ones who asked me to buy them good food. Fruits, salads thats what they are eating.”

Picson will leave for Rio de Janiero on Friday, which is the day of the crucial draw.

Meanwhile, Filipino athletes who are all set and raring to compete welcomed a special visitor to their quarters inside the Athletes’ Village Monday.

It was approaching noon when International Olympic Committee representative to the Philippines Mikee Cojuangco Jaworski paid the Pinoy athletes a visit.

Jaworski just arrived from an extra-long trip from Manila the night before. With very little rest, she came out to see the athletes to wish them well ahead of the Games.

The IOC official praised the athletes, including boxers Rogen Ladon and Charly Suarez, and weightlifters Nestor Colonia and Hidilyn Diaz, for all the hard work they’ve put in prior to the start of the competition on Aug. 6.

GOOD JOB. Jimmy Butler (center) of the USA Basketball Men’s National Team is acknowledged by teammates after a good play during the team’s game against Nigeria at the Toyota Center in Houston, Texas. The US cagers of NBA stars won, 110—66. (See related stoy on A6) AFP

Chiefs, Altas stay at 2nd spot Games tomorrow

(The Arena, San Juan) 10 a.m.- EAC vs St. Benilde (jrs) 12 noon - Mapua vs Perpetual Help (jrs) 2 p.m.- EAC vs St. Benilde (srs) 4 p.m.- Mapua vs Perpetual Help (srs)

By Peter Atencio THE Arellano University Chiefs held their ground on the Lyceum Pirates’ tough Cameroonian cager Mike Nzeussu to win, 81-76, Tuesday at The Arena in San Juan.

Their defensive efforts in the last five minutes allowed them to keep their share of second spot with the University of Perpetual Help Altas in the 92nd National Collegiate Athletic Association men’s basketball tournament.

The Altas had an easier time as they quickly disposed of the Emilio Aguinaldo College Generals, 70-53, with Akhuetie Bright drilling in 19 points.

Both the Chiefs and Altas improved their records at no. 2 with their sixth triumph in eight games.

Dioncee Holts showed the way for the Chiefs with his best game so far of 20 points and 15 rebounds.

This included a pair of charities in the last 5:10, which gave the Chiefs a 72-60 lead, their biggest in the period.

The Pirates turned to big man Nzeussu, who, however, beat Holts in their afternoon-long matchup with his monster game of 24 points and 17 rebounds.

Nzeussu struck with 12 points in the final period, hitting six points in the last 22.3 seconds, including two freebies allowing the Pirates to move within range, 76-79.

Two timely free throws from Jiovani Jalalon in the last 1.6 seconds then proved to be the Chiefs’ saving grace before time expired.

“It was his breakout game [Holts].

Finally, he was able to play his breakout game, like he was meant to, even though it’s late in the first round. He was there for the team.

He committed to double his effort against Nzeussu,” said Codinera.

Cruz: PH jin Alora has a chance to win medal

R

IO DE JANEIRO—Kirstie Elaine Alora, the country’s lone taekwondo bet in the Rio Olympics, can’t find a better coach than Roberto “Kitoy” Cruz.

The 26-year-old Alora is hoping to deliver a medal for the Philippines in the women’s +67 kg weight class, which gets going on Aug. 20.

It’s not going to be easy.

Assisting her in this Olympic journey, which begins with an early clash with 2008 Beijing Olympics gold medalist Maria Espinoza of Mexico, is Cruz, the finest taekwondo athlete the Philippines has ever produced.

Cruz, now 43, represented the Philippines in various international competitions in the ‘90s, and delivered the medals no one else could.

As a finweight, Cruz won the gold in the SEA Games six straight times from 1991 to 2001, and had three silver and two bronze medals in the World Championships.

In the Asian Championships, Cruz won the bronze, silver and

bronze medals from the World Cup. Cruz said Alora has what it takes to win a medal at any stage.

But again, nothing will come easy when you’re up against the world best.

“The pressure is there,” said Cruz.

“But as long as she gives her best and stays focused, then she has a chance,” the taekwondo guru said of Alora, a two-time bronze medalist it the Asian Games.

Cruz said Alora, who normalAlora ly gives away an inch or two in gold during a five-year stretch height against her rivals, makes starting in 1994. He also has two it up with a big heart.

“Likas na matapang (She’s pure heart),” said the coach.

The early clash with Espinoza, who also won the bronze in the 2012 London Olympics, should give Alora the early chance to prove her worth in the Olympic level.

“Basta laban lang (As long as we fight). Get through her (Espinoza) early on. That’s the mission anyway,” said Cruz.

Alora was back in the swing of things Monday after taking a needed rest Sunday when she ran a slight fever.

“I’m okay now. I just have to train today,” she said.

“She’s fine,” said Cruz.

New faces expected to shine EXPECT new faces to shine in the Alaska IronKids Triathlon Cebu at the Shangri-La Mactan on Aug. 6.

From a sidelight of the IronMan Triathlon competitions several years ago, Alaska IronKids has grown into its own as the biggest and best competition for triathlon athletes in its age groups.

The growing number of participants has guaranteed that there will be new challengers to the established champions.

Foremost among them is Jana Macalalad. After placing second to the Borlain sisters (Samantha and Tara) many times, Macalalad is determined to break the pattern in Cebu.

“I expect that I can beat the Borlain sisters and have a good race. I trained hard this past year. You don’t train for second or third. You train for first. So, aim for gold,” said Macalalad.

Children participating in IronKids

are already champions without winning medals. The program encourages them to drop their video game consoles and cellphones, stop watching TV inside their living rooms and invites them to swim, bike and run outdoors to play instead.

Macalalad is trained by triathlon coach George Vilog with the help of swim coach Anthony Lozada.

“Coach George taught me the important things to remember. First is discipline. Then you must have the heart for it. It’s important how you do it. If you’re always tired that means you don’t love your sport. If you love your sport then even if you are tired then you find ways to motivate yourself and continue. I never get tired,” said Macalalad.

A few weeks ago she joined the Philippine Triathlon Developmental Team for the first time in an international competition abroad and earned a medal in the 2016 Singapore Inter-

national Triathlon.

“I feel proud. Not all people get to represent the Philippines. I am so happy to represent the country. We (teammates) motivated and helped each other. We wanted to make our country proud,” said Macalalad.

The Alaska IronKids Triathlon provides the challenges which the children learn from. Already Macalalad displays determination and has learned the value of hard work and sacrifice in order to achieve her goals.

Alaska IronKids Triathlon is a competition that has experienced steady and continuous growth. About 50 children participated in its first event. The event in Cebu will have 400 competing. Many more wanted to join but organizers limited the field to ensure the safety of the participants.

Caption: Jana Macalalad (right) joins other participants as they prepare to start the triathlon race.

The growing number of participants has guaranteed that there will be new challengers to the established champions.

Nadal to limit participation Mahindra, Talk ‘N Text try to stay on top

RIO DE JANEIRO—Spanish star Rafael Nadal will decide Tuesday whether or not to play all three tennis events at the Olympic Games as he continues his comeback from a two-month injury absence.

The 14-time Grand Slam title winner, who practiced for the first time in Rio on Monday, is scheduled to play singles, doubles with Marc Lopez and mixed with French Open champion Garbine Muguruza.

But his uncle and coach Toni admitted that his nephew may have to rethink his schedule—even possibly sitting out the singles.

“I don’t know because that depends

on who would be better for the team,” Toni Nadal said when asked if his nephew will prioritise the singles.

“We are waiting until tomorrow to take a decision to play all the things or not— singles, doubles and mixed doubles.”

“Tomorrow we have to talk with (Spain coach) Conchita Martinez and with Rafa and what we think is better for the team, and then we play. Sure, sure, we play something.”

Nadal, 30, was forced to quit the French Open before the third round after damaging tendons in his left wrist and hasn’t played since, missing Wimbledon in the process. AFP

By Jeric Lopez CO-LEAGUE leaders Mahindra and Talk ‘N Text aim to keep their places at the top as they resume their campaigns against separate threats in the resumption of the 2016 Philippine Basketball Association Governors’ Cup. TNT Katropa (3-0) will be the first to put its winning streak on the line against sister team NLEX (1-2) at 4:15 p.m., while the Enforcers (3-0) go next when they face another acid test against Alaska (1-2) at 7 p.m. at

the Smart Araneta Coliseum.

Underwhelming in its run in the first two conferences despite a formidable line-up, Talk ‘N Text is finally getting its act together with this blazing start, while the surprising Mahindra Enforcers are taking the league by storm this conference with their sudden and unexpected rise to the top at this stage.

An unlikely league-leader, Mahindra is showing that it not only belongs in the league, but is a threat and a danger as well to all teams.

Games Today

(Smart Araneta Coliseum): 4:15 p.m. - NLEX vs. TNT Katropa 7 p.m. - Alaska vs. Mahindra

Enforcers’ deputy coach Chris Gavina described how his team got to this best start in franchise history.

“Our guys are showing fortitude. We’re treating every game as a playoff game,” he said. “The guys are giving great effort.

Their sheer determination and level of consistency are there.

We should continue to adapt and overcome whatever the situation

is. We should remain focus.”

The Enforcers erased doubts about their legitimacy after they proved they are for real in their last outing.

Mahindra’s uprising reached its climax the last time out after it handed defending champion San Miguel Beer its first loss of the tournament, 105-103, last Wednesday.

Tonight, it’s tough test for the Enforcers as they take on the Aces, who have been inconsistent so far, having alternated losses and wins in their first three games.

Tetangco sees higher growth in 2nd quarter B3

Business

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor business@manilastandardtoday.com extrastory2000@gmail.com WEDNESDAY, AUGUST 3, 2016

B1

Nestle invests P2b in new Milo plant

By Othel V. Campos

NEW MILO PLANT. Nestle Philippines chairman and chief executive Jacques Reber (center) announces the ongoing construction of a Milo

Malt plant at the company’s Lipa factory in Batangas with a total investment of P2 billion. Also shown during the press conference at Rockwell Center in Makati City are Nestle Philippines corporate affairs director Ernie Mascenon (left) and business executive manager for beverages Sherilla Bayona. LINO SANTOS

NESTLÉ Philippines is investing P2 billion in a new factory in Batangas province that will produce malt drinks under the Milo brand, a top executive said Tuesday.

“We continue to invest and we invest in a big way in the Philippines. We have been investing over P14 billion in the last five years to optimize manufacturing operations in the Philippines. This third plant at our Lipa factory is another major investment for the company,” Nestlé Philippines chairman and chief executive Jacques Reber said in a news briefing at Nestle headquarters in Rockwell Center, Makati City.

The announcement of the new Milo malt plant coincided with the celebration of Nestlé Group’s 150th anniversary this year.

“The Philippines is a key market for us at Nestlé. For over a century, we have continually affirmed our confidence in and commitment to the Philippines through our investments and expansion. Our P2-billion investment in the new Milo malt plant is another concrete demonstration of our commitment to the Philippines,” Reber said.

The 5,400-square-meter facility is capable of producing 35,000 metric tons of protomalt, a proprietary malt extract essential for body building. The plant is also designed to have provisions for capacity expansion, which would enable it to export to other Nestle companies abroad.

Construction of the Milo malt plant began in December 2015 and is expected to be completed in October 2017.

It will will be the third plant at Nestlé Lipa factory complex which has a total land area of 29 hectares. The factory’s two other plants manufacture Milo and breakfast cereals, respectively.

The Philippine malt plant will be Nestle’s fourth malt facility after those in Nigeria, Australia and Singapore.

Protomalt in the Philippines is currently sourced from Singapore.

Reber said the company would employ the contract growing model to have access to a steady supply of quality cassava where malt is derived. Milo protomalt is made from extracts from cassava and barley.

PLDT selling Meralco stake

By Darwin G Amojelar

P

LDT Inc. said Tuesday it is in talks with a foreign investor to sell its remaining stake in power retailer Manila Electric Co. for over P26 billion.

“We are now in discussion with a number of interested investors in respect of this interest of PLDT in Beacon and the timetable for the disposal would not be this year…but would most likely first-half of 2017,” PLDT chairman and chief executive Manuel Pangilinan said.

PLDT has an 8.7-percent interest in Meralco through Beacon Electric Assets Holdings. Pangilinan, who also serves as Meralco chairman, said the value of the remaining stake would be likely “north of P26.2 billion.”

PLDT Communications and Energy Ventures Inc. and Metro Pacific Investments Corp. signed a sale purchase agreement in May for the latter to acquire a further 25-percent stake in Beacon.

Beacon owns 35 percent of Meralco and 56 percent of Global Business Power Corp., a unit of GT Capital Holdings Inc. of tycoon Geroge Ty. The purchase will be settled in a cash payment of P17 billion, with the bal-

ance of P9 billion to be paid over the next four years.

Upon completion of the transaction, MPIC will continue to own a direct 15-percent interest in Meralco and through its 75-percent interest in Beacon, a further 26 percent, thereby taking its effective ownership interest in Meralco to 41.2 percent and in Global Power to 42 percent directly and about 9.1 percent indirectly through Meralco.

PCEV’s interest in Meralco will be reduced to an effective interest of 8.7 percent. There will be no change in the aggregate interest of MPIC, PCEV and Beacon in Meralco, which remains at 49.96 percent.

Meanwhile, PLDT said net income fell 33 percent in the second quarter to P6.25 billion from P9.34 billion in the same period last year.

PLDT, partly owned by Hong Kong’s First Pacific Co. Ltd. and Japan’s NTT group, said net income in the first half also declined 33 percent to P12.46 billon from P18.73 billion a year ago.

The company linked the drop in net income during the period to its investment in Rocket Internet. “There was a P5.4-billion impairment booked in the first-half with respect to Rocket to reflect share price of Rocket at 17.40 euro per share which was its June 30 share price,” PLDT chief finance officer Ana-

belle Chua said. ilinan said PLDT was keeping its core forming not only our fixed and mobile She said in the second quarter net income guidance of P30 billion this networks, but also building a formidaalone, PLDT recorded a P3.8-billion year. ble system of data centers. This places loss from its investment in Rocket “Underpinning our digital pivot is PLDT in a unique position to lead in Internet. a comprehensive program to improve the development of the country’s digital Pangilinan, however, said PLDT our digital infrastructure. We are trans- economy,” he said. was keeping its investment Manila Form 2B (Revised June 2014) in Rocket. “It’s a long-term Standard TODAY goal. There is not much we can do in short term. I think we just have to give some 16th to 19th Floors, Fort Legend Towers 31st Street corner 3rd Avenue, Bonifacio Global City, Taguig City 1634 slack to Oliver [Samwer] Statement of Condition and see what he can do in (Head Office and Branches) the short immediate term As of June 30, 2016 in Rocket Internet. In fairAMOUNTS BOARD OF DIRECTORS ness to him, he knows he is ASSETS CURRENT QUARTER PREVIOUS QUARTER MR. JACK LEE under pressure from us and Cash and Cash Items PhP 349,371,538.69 368,000,205.92 Chairman Due from Bangko Sentral ng Pilipinas (BSP) 3,451,256,455.39 3,220,301,723.63 other shareholders to perform Due from Other Banks 4,223,718,658.75 3,232,721,037.32 MR. WILLIAM B. GO Financial Assets at Fair Value through Profit or Loss 782,204,030.48 780,907,013.94 Vice Chairman with respect to investment in Available-for-Sale Financial Assets-Net 643,342,666.25 515,704,617.45 Held-to-Maturity (HTM) Financial Assets-Net 293,932,258.87 291,934,843.67 Rocket Internet. I think we DIRECTORS Unquoted Debt Securities Classified as Loans-Net 70,017,787.13 80,861,113.02 MR. STEVE TSAI Investments in Non-Marketable Equity Security-Net 12,440,816.63 12,440,816.63 just need to give him a bit of MR. FRANK SHIH Loans and Receivables - Net 23,179,972,704.68 20,554,765,087.56 Interbank Loans Receivable 1,421,251,524.58 1,414,875,278.84 MR. CHIH-CHUNG HUANG time,” Pangilinan said.

Loans and Receivables - Others 20,865,290,650.81 19,411,148,006.89 MR. EDWIN B. VILLANUEVA Loans and Receivables Arising from RA/CA/PR/SLB 1,114,516,012.00 0.00 Samwer is the founder and MR. NG MENG TAM General Loan Loss Provision 221,085,482.71 271,258,198.17 Other Financial Assets 103,677,269.79 91,783,667.13 chief executive of Rocket InEXECUTIVE OFFICERS Bank Premises, Furniture, Fixture and Equipment-Net 208,848,944.69 210,605,817.41 ternet.

Real and Other Properties Acquired-Net 41,957,166.61 33,868,780.48 MR. STEVE TSAI Other Assets-Net 1,896,246,110.96 1,683,149,382.16 President and CEO Core profit, which exTOTAL ASSETS PhP 35,256,986,408.92 31,077,044,106.32 cludes foreign exchange MR. ISMAEL R. SANDIG LIABILITIES Senior Executive Vice President gains or losses and other nonFinancial Liabilities at Fair Value through Profit or Loss PhP 263,417,558.92 155,164,701.67 MS. JAMIE WANG Deposit Liabilities 21,985,725,381.79 20,958,124,770.69 recurring income, dropped 6 Bills Payable 2,917,720,000.00 921,400,000.00 Executive Vice President percent to P17.7 billion in the a) Interbank Loans Payable 2,917,720,000.00 921,400,000.00 Due to Bangko Sentral ng Pilipinas 0.00 2,216,085.95 MR. JIMMY ARSENIO Y. SAMONTE first half from P18.93 billion Other Financial Liabilities 538,369,461.61 212,217,076.03 Senior Vice President Other Liabilities 2,641,892,500.25 1,972,090,808.68 last year.

MS. MA. GRETCHEN S. MACABASCO TOTAL LIABILITIES PhP 28,347,124,902.57 24,221,213,443.02 Consolidated revenues Senior Vice President STOCKHOLDERS’ EQUITY barely grew to P85.28 billion MS. CECILIA E. TABUENA Capital Stock PhP 2,533,200,985.17 2,533,200,985.17 Senior Vice President from P85.19 billion. PangOther Capital Accounts 129,286,520.77 75,255,677.72

CoMP vows responsible mining

By Anna Leah E. Gonzales

THE Chamber of Mines of the Philippines said Tuesday it will continue to abide by the law and practice responsible mining.

CoMP made the statement after President Rodrigo Duterte said the “nation can live without mining,” if miners would not follow environmental laws.

Duterte said if the mining industry would not shape up, he could forego the P40 billion collected annually from mining companies.

“We continue to take the president’s statements as a challenge for us in the Chamber of Mines of the Philippines to step up our efforts and practices in adhering to the tenets of responsible mining,” said CoMP. The group also said the prevailing assumption that government was getting only 18 percent from mining operations was false and baseless.

CoMP said the foreign technical assistance agreement provided for a 50/50 percent sharing formula with the government and when there were windfall profits, the government was receiving a further share of 60 percent, when the windfall was over 50 percent.

It said in the mineral production sharing agree-

ment, the government was receiving a 45-percent share, depending on prices of commodities.

“Us in the chamber are covered by a strict edict to safeguard our people, environment and country’s interests and we will continue to abide by the law as the president has stressed to us in the industry and support his effort to weed out the irresponsible miners who conduct their business without regard for the law,” CoMP said.

The government is currently auditing the operations of all mining companies. Environment Secretary Regina Lopez earlier said the audit was ordered by President Duterte.

“The audit is not just physical and technical, it’s also social and environmental. It also involves the community. It’s a total impact evaluation of the operations of the mine,” Lopez said.

The audit on mining firms aims to determine the adequacy and efficiency of the environmental protection measures of each mining operation.

The audit also aims to identify gaps in environmental protection measures and to determine the appropriate penalties in case of violations of the mining and environmental laws.

“We will do the audit and all those that cause suffering will be suspended, It’s the right thing to do,” Lopez said.

Retained Earnings

4,247,374,000.41

4,247,374,000.41

TOTAL STOCKHOLDERS’ EQUITY

PhP

6,909,861,506.35

6,855,830,663.30

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

PhP

35,256,986,408.92

31,077,044,106.32

MR. OLIVER D. JIMENO Senior Vice President

Financial Standby Letters of Credit Performance Standby Letters of Credit Commercial Letters of Credit Trade Related Guarantees Spot Foreign Exchange Contracts Trust Department Accounts a) Trust and Other Fiduciary Accounts b) Agency Accounts Derivatives Others

PhP

1,176,750,000.00 1,301,565,779.17 285,267,171.21 5,604,437.92 2,424,194,612.97 1,497,971,522.65 726,995,028.69 770,976,493.96 19,811,253,131.58 1,286,598,770.82

1,151,750,000.00 796,382,886.38 194,827,280.51 2,438,379.54 3,376,588,651.68 1,455,105,230.59 719,201,174.44 735,904,056.15 17,076,193,057.80 1,224,453,696.71

MR. JOSEPH B. ESTAVILLO Senior Vice President

TOTAL CONTINGENT ACCOUNTS

PhP

27,789,205,426.32

25,277,739,183.21

PhP PhP

23,712,109,862.25 311,051,674.86

21,086,316,529.40 260,293,243.67

PhP PhP

472,679,805.76 1.99% 161,628,130.90 0.68%

487,807,689.04 2.31% 227,514,445.37 1.08%

PhP

532,991,003.38

598,186,229.33

PhP

21,880,570.59

20,804,782.58

PhP

0.09% 0.00

0.10% 0.00

CONTINGENT ACCOUNTS

ADDITIONAL INFORMATION Gross Total Loan Portfolio (TLP) Specific Allowance for credit losses on the TLP Non-performing Loans (NPLs) a. Gross NPLs b. Ratio of gross NPLs to gross TLP (%) c. Net NPLs d. Ratio of Net NPLs to gross TLP (%) Classified Loans & Other Risk Assets, gross of allowance for credit losses DOSRI Loans and receivables, gross of allowance for credit losses Ratio of DOSRI Loans and receivables, gross of allowance for credit losses, to TLP (%) Gross Non-performing DOSRI loans and receivables Ratio of gross non-performing DOSRI loans and receivable to TLP (%) Percent Compliance with Magna Carta (%) a. 8% for Micro and Small Enterprises b. 2% for Medium Enterprises Return on Equity (ROE) (%) Capital Adequacy Ratio (CAR) on Solo Basis a. Total CAR (%) b. TIER 1 Ratio (%) c. CET 1 (%)

0.00%

0.00%

2.57% 2.68% 3.08%

2.63% 6.41% 3.34%

21.77% 21.08% 21.08%

22.93% 22.09% 22.09%

MR. EDGARDO A.M. MENDOZA, JR. Senior Vice President

MR. DEOGRACIAS A. JACINTO Senior Vice President MR. REMO ROMULO M. GAROVILLO JR. Senior Vice President MR. FLORENTINO T. GONZALES III. Senior Vice President MR. ANDRE P. PAYAWAL Senior Vice President MR. MARVIN I. TIBURCIO Senior Vice President

REPUBLIC OF THE PHILIPPINES ) TAGUIG CITY ) S.S. I/We, ANDRE P. PAYAWAL and STEVE TSAI of the abovementioned Bank, do solemnly swear that all matters set forth in the above statement of condition are true and correct to the best of my/our knowledge and belief.

(Sgd.) ANDRE P. PAYAWAL Chief Finance Officer, SVP (Signature Over Printed Name)

(Sgd.) WEN-HSIUNG TSAI a.ka. STEVE TSAI President and CEO (Signature Over Printed Name)

SUBSCRIBED AND SWORN to before me this July 26, 2016 affiants exhibiting to me his/their TIN 150-031-779-000 and 462-868-631-000.

Doc. No. 471; Book No. II; Page No. 96; Series of 2016

(Sgd.) ATTY. MARY ANGELINE S. TOL NOTARY PUBLIC FOR TAGUIG CITY UNTIL DECEMBER 31, 2017 APPT NO.5 (2016 - 2017) / ROLL NO 51630 PTR NO. A-2802106 /01-08-16 / TAGUIG CITY IBP NO. 1016816 / 12-22-15 / CAVITE MCLE COMPLIANCE NO. V-0007014 / 01-23.16 16/F, Fort Legend Tower, 31st St. corner 3rd Avenue Bonifacio Global City, Taguig City

B2

Business

WEDNESDAY, AUGUST 3, 2016 extrastory2000@gmail.com

Stock market drops; BDO, Metrobank up

S

TOCKS fell Tuesday, as low oil prices dented sentiment and Asian investors awaited Japanese premier Shinzo Abe’s announcement on details of the government’s massive stimulus program.

The Philippine Stock Exchange index, the 30-company benchmark, shed 32 points, or 0.4 percent, to close at 8,037.48. Despite the loss, the bellwether was still up 15.6 per-

cent since the start of the year.

The heavier index, representing all shares, also retreated 30 points, or 0.6 percent, to settle at 4,761.17, on a value turnover of P7.3 billion.

Ten of the 20 most active stocks ended in the green, led by BDO Unibank Inc. which fell 2 percent to P117 and Metropolitan Bank & Trust Co. which advanced 1.3 percent to P96.50.

Philippine Long Distance Telephone Co. fell 8.2 percent to P1,962, after announcing that profit slid 33 percent in the first half to P12.46 billion from a year ago.

Meanwhile, most Asian stocks also traded lower Tuesday. Crude prices

rebounded modestly in Asian trade, but were still hovering around threemonth lows of around $40 a barrel a day after slipping into a bear market, taking the wind out of energy and commodity-linked shares.

Abe is expected later Tuesday to offer some specifics on the whopping 28 trillion yen ($273 billion) fiscal package announced last week to kickstart the world’s numberthree economy.

At the lunch break, Tokyo’s benchmark Nikkei 225 index was down 0.7 percent, while Sydney edged 0.4 percent lower and Seoul fell 0.5 percent.

Shanghai ticked up 0.2 percent

T OP G AINERS STOCKS

after opening in the red, but Taipei and Singapore were lower.

Hong Kong’s stock exchange was shuttered as Typhoon Nida slammed the city with violent winds and torrential rain.

Oil’s decline “will probably weigh on sentiment a little bit and we may see some risk-off moves associated with that,” James Woods, a strategist at Rivkin Securities in Sydney, told Bloomberg News.

“We’ll have an update from Shinzo Abe in Japan today, just running through the measures of the 28 trillion yen stimulus package. It’s really what’s going to dictate risk sentiment.” With AFP, Bloomberg

3.88

42.12

Phil. Racing Club

9.5

13.77

MRC Allied Ind.

0.136

11.48

Pacifica `A'

0.0380

8.57

Philodrill Corp. `A'

0.0130

8.33

Manulife Fin. Corp.

628.00

8.28

F&J Prince 'A'

7.1

7.58

Ever Gotesco

0.159

6.71

MEDCO Holdings

0.670

6.35

F&J Prince 'B'

7.6

5.56

T OP L OSERS STOCKS

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7.88 75.3 124.4 107 56.5 2.49 4.2 17 30.45 10.4 0.92 2.6 890 1.01 100 1.46 30.5 91.5 137 80 361.2 57 180 1700 124 3.26

2.5 66 88.05 88.1 45.45 1.97 1.68 12.02 19.6 6.12 0.74 1.02 625 0.225 78 0.9 17.8 62 88.35 52 276 41 118.2 1200 59 2.65

AG Finance 3.68 Asia United Bank 47.5 Banco de Oro Unibank Inc. 114.70 Bank of PI 98.50 China Bank 38.1 BDO Leasing & Fin. INc. 4.05 Bright Kindle Resources 1.68 COL Financial 16.3 Eastwest Bank 20.35 Filipino Fund Inc. 6.86 First Abacus 0.7 I-Remit Inc. 2 Manulife Fin. Corp.

580.00 MEDCO Holdings 0.630 Metrobank 95.25 Natl. Reinsurance Corp. 0.92 PB Bank 14.7 Phil. National Bank 63.30 Phil. Savings Bank 101.5 Philippine trust Co. 450 PSE Inc. 283 RCBC `A’ 32.5 Security Bank 222 Sun Life Financial 1430.00 Union Bank 72.65 Vantage Equities 1.54

47 5 1.46 2.36 15.3 89 148

35.9 1.11 1.01 1.86 7.92 40.3 32

20.6 85 36 65.8 2.97 4.14 21.5 21.6 11.96 9.13 11.8 31.8 109 20.75 15.3 9.4 0.98 241 3.95 4 74 33.9 90 13.26 293 0.62 5.25 12.98 15 7.03 3.4 4.5 6.3 7.34 1450 3.28 0.315 2.18 2.65 234 5.28 1.3 26 2.17

15.32 20.2 10.08 29.15 1.5 1.5 10.72 9.55 9.04 6.02 8.86 20.2 71.5 13.86 13.24 5.34 0.395 173 2.3 1.63 33 23.35 17.3 5.88 250.2 0.335 3.87 8.45 10.04 3.03 1.95 1 4.02 5.9 801 1.55 0.138 1.02 2.09 152 4.28 0.640 10.02 1.2

0.59 59.2 30.05 2.16 7.39 3.4 3.35 823.5 911 10.2 84 3.35 3.68 4.92 0.66 1455 7.5 76 5.29 6.66 9.25 0.85 17.3 0.71 5.53 0.0670 1.61 2.99 84.9 974 1.66 1.39 156 0.710 0.435 0.510

0.44 48.1 20.85 1.6 6.62 0.225 0.23 634.5 260 7.390 12.8 2.6 1.15 2.26 0.152 837 5.3 49.55 3 3.52 4.84 0.59 12 0.580 4.2 0.030 0.550 2.26 59.3 751 1.13 0.93 80 0.211 0.179 0.310

Aboitiz Power Corp.

45.5 Agrinurture Inc. 3.53 Alliance Tuna Intl Inc. 0.88 Alsons Cons.

1.85 Asiabest Group 12.5 Bogo Medelin 51.25 C. Azuc De Tarlac 200.00 Cemex Holdings 12.16 Century Food 16.78 Conc. Aggr. ‘A’ 160.1 Cirtek Holdings (Chips) 22.25 Concepcion 57.2 Crown Asia 2.33 Da Vinci Capital 5.78 Del Monte 13 DNL Industries Inc. 10.000 Emperador 7.47 Energy Devt. Corp. (EDC) 5.90 EEI 9.55 First Gen Corp.

25.75 First Holdings ‘A’ 71.5 Ginebra San Miguel Inc. 12.00 Holcim Philippines Inc. 16.88 Integ. Micro-Electronics 5.74 Ionics Inc 2.420 Jollibee Foods Corp.

251.00 LMG Chemicals 2.1 Mabuhay Vinyl 4.01 Macay Holdings 32.00 Manila Water Co. Inc. 26.2 Maxs Group 28.95 Megawide 11.12 Mla. Elect. Co `A’ 323.80 MG Holdings 0.270 Pepsi-Cola Products Phil. 3.42 Petron Corporation 10.72 Phinma Corporation 11.66 Phoenix Petroleum Phils. 5.95 Phoenix Semiconductor 1.70 Pryce Corp. `A’ 3.55 RFM Corporation 4.27 Roxas Holdings 3.8 San Miguel ‘Pure Foods `A’ 216 Splash Corporation 3.05 Swift Foods, Inc. 0.157 TKC Steel Corp.

1.97 Trans-Asia Oil 2.34 Universal Robina 204.4 Victorias Milling 4.4 Vitarich Corp.

1.5 Vivant Corp.

32.95 Vulcan Ind’l.

1.29 HOLDING FIRMS Abacus Cons. `A’ 0.400 Aboitiz Equity 77.90 Alliance Global Inc. 16.26 Anglo Holdings A 1.24 Anscor `A’ 6.29 ATN Holdings A 0.400 ATN Holdings B 0.400 Ayala Corp `A’ 886.5 BHI Holdings Inc. 1448.00 Cosco Capital 8.15 DMCI Holdings 13.08 F&J Prince ‘A’ 6.6 F&J Prince ‘B’ 7.2 Filinvest Dev. Corp.

7.00 Forum Pacific 0.221 GT Capital 1590 House of Inv. 6.85 JG Summit Holdings 83.70 Keppel Holdings `A’ 5.82 Keppel Holdings `B’ 5.82 Lopez Holdings Corp.

7.78 Lodestar Invt. Holdg.Corp. 0.76 LT Group 15.9 Mabuhay Holdings `A’ 0.470 Metro Pacific Inv. Corp. 7.58 Pacifica `A’ 0.0350 Prime Orion 1.940 Republic Glass ‘A’ 2.65 San Miguel Corp `A’ 81.55 SM Investments Inc. 708.50 Solid Group Inc. 1.27 South China Res. Inc. 0.86 Top Frontier 193.500 Unioil Res. & Hldgs 0.3250 Wellex Industries 0.2040 Zeus Holdings 0.300

10.5 1.99 1.75 0.375 41.4 5.6 5.59 1.44 1.97 1.48 0.201 0.69 10.96 0.97 0.305 2.22 2.1 1.8 5.94 0.180 27 8.54

6.74 0.65 1.2 0.192 30.05 3.36 4.96 0.79 1.1 0.97 0.083 0.415 2.4 0.83 0.188 1.15 1.42 1.27 4.13 0.090 23 2.69

8990 HLDG A. Brown Co., Inc. Araneta Prop `A’ Arthaland Corp.

Ayala Land `B’ Belle Corp. `A’ Cebu Holdings Century Property City & Land Dev. Cityland Dev. `A’ Crown Equities Inc. Cyber Bay Corp.

Double Dragon Empire East Land Ever Gotesco Global-Estate Filinvest Land,Inc. Interport `A’ Megaworld MRC Allied Ind. Phil. Tob. Flue Cur & Redry Primex Corp.

7.880 1.26 2.450 0.275 40.000 3.25 5.02 0.610 1.09 1.060 0.180 0.660 55.25 0.820 0.149 1.12 1.96 1.23 5.08 0.122 38.10 17.24

High

Low

FINANCIAL 3.72 3.68 47.5 45 117.40 114.90 99.60 98.30 38.1 38 4.05 4.00 1.70 1.67 16.7 16.4 20.5 20 6.86 6.86 0.7 0.7 2 1.97 628.00 628.00 0.690 0.620 96.5 95.3 0.92 0.9 14.8 14.66 63.60 63.00 101.9 98.45 400 400 282 276 32.75 32.3 224.4 222 1430.00 1405.00 73.85 72.75 1.57 1.51 INDUSTRIAL 45.5 45 3.6 3.4 0.89 0.86 1.94 1.85 12.62 12.32 51.2 51.15 195.00 195.00 12.18 11.98 16.88 16.72 165 160.1 22.5 22.1 57.65 55 2.35 2.32 6 5.78 13 12.88 10.200 10.000 7.60 7.47 5.88 5.81 9.60 9.20 25.8 24.95 71.85 70.5 12.10 12.00 17.00 16.30 5.72 5.58 2.470 2.510 254.40 251.00 2.06 2.06 4.05 3.9 31.90 28.80 26.25 26 28.95 28.5 11.12 10.3 324.60 322.80 0.285 0.270 3.43 3.39 10.72 10.30 11.66 11.66 6.00 5.88 1.71 1.66 3.57 3.52 4.26 4.25 3.79 3.78 217 214 3.05 3.04 0.173 0.154 2.01 1.89 2.37 2.32 204.4 202.8 4.56 4.49 1.62 1.48 31.05 31.05 1.35 1.29 0.410 0.395 79.80 76.00 16.26 16.10 1.29 1.28 6.50 6.21 0.410 0.395 0.420 0.400 887 876 1800.00 1448.00 8.17 8.1 13.08 12.90 7.25 6.62 7.6 7 7.00 6.94 0.230 0.222 1598 1560 6.72 6.70 84.10 83.30 5.3 5.13 5.82 5.82 7.79 7.58 0.78 0.75 16 15.86 0.470 0.470 7.58 7.41 0.0400 0.0350 1.950 1.920 2.65 2.65 82.95 81.20 709.00 703.50 1.28 1.26 0.86 0.85 196.000 193.000 0.3300 0.3200 0.2050 0.2000 0.300 0.295 PROPERTY 8.150 7.880 1.30 1.27 2.520 2.460 0.285 0.280 40.200 39.750 3.24 3.19 5.17 5 0.63 0.600 1.09 1.03 1.060 1.030 0.186 0.168 0.680 0.660 56.45 55.35 0.820 0.810 0.160 0.159 1.12 1.07 1.98 1.94 1.25 1.23 5.16 5.07 0.148 0.123 38.05 37.90 17.58 17.28

Close

%

Net Foreign

Change Volume

Trade/Buying

3.72 47.5 117.00 99.60 38 4.01 1.67 16.7 20.25 6.86 0.7 2 628.00 0.670 96.5 0.9 14.74 63.05 101.9 400 277 32.45 224 1405.00 73.25 1.57

1.09 0.00 2.01 1.12 -0.26 -0.99 -0.60 2.45 -0.49 0.00 0.00 0.00 8.28 6.35 1.31 -2.17 0.27 -0.39 0.39 -11.11 -2.12 -0.15 0.90 -1.75 0.83 1.95

7,000 45,100 3,200,150 1,902,060 159,200 111,000 294,000 47,300 531,500 2,000 6,000 44,000 20 7,651,000 2,940,760 90,000 4,800 32,890 20 20 3,200 53,700 710,650 100 412,930 40,000

45.45 3.4 0.86 1.9 12.32 51.2 195.00 12 16.84 161 22.3 57.65 2.32 5.82 12.9 10.080 7.60 5.84 9.22 25.4 70.7 12.10 16.60 5.65 2.540 254.00 2.06 4.05 30.00 26.15 28.9 10.4 323.80 0.280 3.4 10.34 11.66 6.00 1.71 3.54 4.26 3.78 214 3.04 0.165 1.93 2.37 204 4.56 1.48 31.05 1.30

-0.11 -3.68 -2.27 2.70 -1.44 -0.10 -2.50 -1.32 0.36 0.56 0.22 0.79 -0.43 0.69 -0.77 0.80 1.74 -1.02 -3.46 -1.36 -1.12 0.83 -1.66 -1.57 4.96 1.20 -1.90 1.00 -6.25 -0.19 -0.17 -6.47 0.00 3.70 -0.58 -3.54 0.00 0.84 0.59 -0.28 -0.23 -0.53 -0.93 -0.33 5.10 -2.03 1.28 -0.20 3.64 -1.33 -5.77 0.78

1,580,100 1,627,000 743,000 5,042,000 6,800 520 100 10,329,900 851,500 1,740 11,611,400 53,500 1,192,000 400,300 63,600 12,208,900 1,360,700 14,437,500 841,300 2,525,600 246,080 600 102,100 416,600 528,030 528,030 4,000 86,000 78,100 2,133,700 350,900 10,782,700 69,890 1,190,000 1,464,000 6,138,800 3,600 406,800 865,000 203,000 61,000 17,000 6,710 11,000 50,010,000 2,125,000 463,000 1,201,780 36,000 72,367,000 300 281,000

0.400 79.80 16.26 1.29 6.30 0.400 0.405 880 1480.00 8.1 13.00 7.1 7.6 7.00 0.230 1580 6.70 83.40 5.3 5.82 7.7 0.75 15.94 0.470 7.5 0.0380 1.920 2.65 81.95 705.00 1.28 0.85 196.000 0.3300 0.2040 0.295

0.00 2.44 0.00 4.03 0.16 0.00 1.25 -0.73 2.21 -0.61 -0.61 7.58 5.56 0.00 4.07 -0.63 -2.19 -0.36 -8.93 0.00 -1.03 -1.32 0.25 0.00 -1.06 8.57 -1.03 0.00 0.49 -0.49 0.79 -1.16 1.29 1.54 0.00 -1.67

1,170,000 1,497,950 2,482,400 48,000 7,700 29,100,000 600,000 146,510 30 856,000 8,037,700 629,400 25,700 362,400 80,000 106,685 148,000 1,474,950 2,700 100 4,306,500 215,000 28,761,500 10,000 27,059,600 562,000,000 275,000 8,000 104,050 231,980 365,000 233,000 22,450 1,940,000 4,350,000 780,000

8.000 1.28 2.490 0.285 40.150 3.19 5.17 0.620 1.09 1.030 0.168 0.670 55.9 0.810 0.159 1.08 1.96 1.25 5.1 0.136 38.00 17.28

1.52 1.59 1.63 3.64 0.37 -1.85 2.99 1.64 0.00 -2.83 -6.67 1.52 1.18 -1.22 6.71 -3.57 0.00 1.63 0.39 11.48 -0.26 0.23

208,400 1,260,000 1,808,000 1,190,000 5,603,100 577,000 19,400 10,697,000 9,000 7,000 230,730,000 4,185,000 600,950 5,471,000 370,000 7,600,000 5,592,000 295,000 38,721,500 241,650,000 5,200 274,200

268,670.00 73,714,176 77,918,860.00

-328,000.00 -3,246,375.00

-21,760.00 -24,882,316.00 626,317.00 287,730.00 -882,455 45,808,928.00 -2,378,119.50 -3,381,660.00 10,500.00 6,792,800.00

45,676,206.00 2,883,886.00 567,150.00 448,824 879,220.00 43,274,366.00 6,634,019.00 33,581,826.00 1,632,334.00 -10,216,795.00 1,843,737.00 -692,580.00 -590,605.00 -58,051,366.00 -58,051,366.00 300,500.00 -50,600,215.00 815,045.00 -39,014,132.00 1,481,104.00 2,043,330.00 2,534,696.00 -2,380.00 -13,410.00

-434,290.00 -220,100.00 95,400.00 272,600.00 44,865,844 455,170.00

19,629,401.00 6,656,620.00

12,400.00 -22,399,930.00 2,056,376.00 -10,187,512.00 -49,475.00 725,200.00 -27,965,620.00 -13,084,410.00 7,117,362.00 -64,151,516.00

52 Weeks

31.8 2.29 4.9 21.35 1.06 1.62 8.59 10.5 66 1.44 1.09 28.5 15.82 0.1430 5.06 99.1 12.3 7.67 4 2720 8.41 70.5 1.97 119.5 7 5.8 0.017 0.8200 2.2800 5.93 12.28 3.32 2.53 3.2 95.5 1 2.46 15.2 1.040 22.8 6.41 18 185 22.9 3486 0.760 2.28 46.05 90.1 11.6 0.85 10 0.490 1.9 0.0098 5.45 17.24 0.330 12.7 12.8 1.19 1.62 9.5 4.2 0.48 0.420 0.440 0.022 0.023 8.2 49.2 4.27 1.030 3.06 0.020 0.021 7.67 12.88 10.42 0.040 420 9 0.016 70 553 525 120 515 8.21 12.28 111 1060 1047 78.95 84.8

-99,193,565.00 111,000.00 881,979.50 -76,937,760.00 -185,320.00 8,000.00 659,073.00 -697,200.00 8,400.00 -15,864,540.00 -1,293,130.00

Previous

High Low

1.34 6.98 15 12.88 130.7

22.15 1.6 3.1 15.08 0.69 0.83 5.73

STOCKS

Close

Robinson’s Land `B’ Rockwell Shang Properties Inc. SM Prime Holdings Sta. Lucia Land Inc. Suntrust Home Dev. Inc. Vista Land & Lifescapes

TRADING SUMMARY

SHARES

FINANCIAL

21,444,999

234,450.00

INDUSTRIAL

222,790,386

-3,849,552.00

HOLDING FIRMS

653,710,181

PROPERTY

569,668,585

SERVICES

727,007,443

167,083,966.00 -1,416,340.00 -173,000.00

MINING & OIL

1,014,572,533

GRAND TOTAL

3,215,306,682

32.50 1.79 3.38 29.85 0.95 1.040 6.060

Low

32.60 32.05 1.8 1.78 3.37 3.26 30.00 29.40 0.95 0.93 1.060 1.030 6.170 6.040 SERVICES 1.97 2GO Group’ 7.3 7.34 7.28 35.2 ABS-CBN 50 50.55 49.5 1 Acesite Hotel 1.23 1.25 1.23 0.63 APC Group, Inc. 0.590 0.610 0.590 18.2 Berjaya Phils. Inc. 5.72 5.7 5.65 8.6 Bloomberry 5.75 5.83 5.65 0.0770 Boulevard Holdings 0.1090 0.1190 0.1060 2.95 Calata Corp.

2.98 3.06 2.87 56.1 Cebu Air Inc. (5J) 113.7 116.4 113.7 10.14 Centro Esc. Univ.

10.1 10.1 10 4.8 DFNN Inc. 5.50 5.70 5.50 2.58 Easy Call “Common” 3.28 3.22 3.22 1600 Globe Telecom 2252 2272 2234 5.95 GMA Network Inc. 6.30 6.33 6.32 Golden Haven 16.12 16.16 15.64 17.02 Grand Plaza Hotel 20.30 20.30 20.30 1.23 Harbor Star 1.20 1.23 1.20 102.6 I.C.T.S.I. 64.7 65.05 64.2 3.01 Imperial Res. `A’ 19.92 20.50 19.30 4 Imperial Res. `B’ 175 175 160 0.011 IP E-Game Ventures Inc. 0.0089 0.0098 0.0090 IPM Holdings 9.35 9.37 9.30 0.041 Island Info 0.335 0.345 0.335 1.200 ISM Communications 1.7600 1.7600 1.7300 2.34 Jackstones 2.73 4 2.73 LBC Express 13.18 13.2 13 6.5 Leisure & Resorts 6.39 6.79 6.50 1.91 Liberty Telecom 3.03 3.07 3.02 1.01 Lorenzo Shipping 1.06 1.05 1.03 1.95 Macroasia Corp.

2.58 2.58 2.53 3.1 Manila Broadcasting 19.98 19.98 19.08 0.650 Manila Bulletin 0.620 0.610 0.570 1.8 Manila Jockey 2 2.01 2 6 Melco Crown 3.48 3.52 3.33 Metro Retail 5.50 5.79 5.42 0.37 NOW Corp.

3.400 3.550 3.400 14.54 Pacific Online Sys. Corp. 11.94 12 11.94 3 PAL Holdings Inc. 5.30 5.45 5.30 8.8 Phil. Racing Club 8.35 9.5 9.5 79 Phil. Seven Corp.

136.00 135.00 126.00 4.39 Philweb.Com Inc. 15.00 15.28 14.32 2748 PLDT Common 2136.00 2136.00 1900.00 0.435 PremiereHorizon 0.465 0.475 0.455 1.2 Premium Leisure 1.110 1.120 1.070 31.45 Puregold 48.00 48.80 47.75 60.55 Robinsons RTL 85.50 88.00 85.50 SBS Phil. Corp.

6.39 6.45 6.36 7.59 SSI Group 3.24 3.35 3.25 0.63 STI Holdings 0.640 0.640 0.610 5 Travellers 3.57 3.59 3.55 0.315 Waterfront Phils.

0.330 0.335 0.335 1.14 Yehey 6.700 6.750 6.500 MINING & OIL 0.0043 Abra Mining 0.0042 0.0042 0.0041 1.72 Apex `A’ 3.12 3.17 3.09 6.47 Atlas Cons. `A’ 4.26 4.46 4.20 0.236 Basic Energy Corp.

0.234 0.234 0.230 6.5 Benguet Corp `A’ 6.9500 6.6 6.55 5.11 Benguet Corp `B’ 7.1000 6.9000 6.5000 0.85 Century Peak Metals Hldgs0.61 0.61 0.6 0.77 Coal Asia 0.485 0.485 0.480 5.99 Dizon 8.51 8.51 8.20 1.17 Ferronickel 0.870 0.870 0.840 0.305 Geograce Res. Phil. Inc. 0.290 0.300 0.285 0.2130 Lepanto `A’ 0.232 0.232 0.226 0.2160 Lepanto `B’ 0.244 0.242 0.242 0.013 Manila Mining `A’ 0.0120 0.0120 0.0120 0.014 Manila Mining `B’ 0.0130 0.0130 0.0130 3.240 Marcventures Hldgs., Inc. 1.75 1.77 1.73 18.96 Nickelasia 5.79 5.95 5.7 2.11 Nihao Mineral Resources 2.9 2.92 2.83 0.365 Omico 0.5600 0.5700 0.5600 1.54 Oriental Peninsula Res. 1.0900 1.1400 1.1000 0.012 Oriental Pet. `A’ 0.0110 0.0120 0.0110 0.013 Oriental Pet. `B’ 0.0120 0.0120 0.0120 5.4 Petroenergy Res. Corp. 4.10 4.13 4.13 7.26 Philex `A’ 8.79 8.98 8.74 2.27 PhilexPetroleum 4.00 4.08 3.90 0.015 Philodrill Corp. `A’ 0.0120 0.0130 0.0120 115.9 Semirara Corp.

120.00 120.00 119.20 3.67 TA Petroleum 3.7 3.71 3.67 0.0100 United Paragon 0.0110 0.0110 0.0100 PREFERRED 33 ABS-CBN Holdings Corp. 49.2 51.5 49.1 490 Ayala Corp. Pref `B1’ 520 520 519.5 500 Ayala Corp. Pref ‘B2’ 545.5 545 545 DD Pref 104.6 106.5 104.6 101.5 First Gen G 119 119 119 480 GLOBE PREF P 544.5 546 546 5.88 GMA Holdings Inc. 6.09 6.1 6.09 6.5 Leisure and Resort 1.07 1.07 1.07 101 MWIDE PREF 112 112.9 111.7 997 PCOR-Preferred A 1043 1043 1043 1011 PF Pref 2 1025 1025 1021 74.5 SMC Preferred B 77.5 77.5 76.5 75 SMC Preferred C 81.1 81.7 81.1 SMC Preferred D 76.05 76.05 76.05 SMC Preferred E 79 79 76.6 SMC Preferred G 79.85 79.9 79 SMC Preferred H 76.95 77 76.6 SMC Preferred I 77.25 77.3 77.25 1 Swift Pref 2.46 2.57 2.5 WARRANTS & BONDS 0.8900 LR Warrant 2.590 2.690 2.550 SME Alterra Capital 5.02 5.25 5.02 3.5 Makati Fin. Corp.

3.7 3.71 3.65 Italpinas 5.24 5.25 5.02 5.95 Xurpas 18 18.16 17.4 EXCHANGE TRADED FUNDS 105.6 First Metro ETF 132 132.1 131.9

115,810.00 8,240.00

219,000.00 -2,467,600.00

High

Close

Close (P)

Change (%)

Philippine trust Co.

400

Keppel Holdings `A'

5.3

-8.93

Imperial Res. `B'

160

-8.57

-11.11

PLDT Common

1962.00

-8.15

Crown Equities Inc.

0.168

-6.67

Megawide

10.4

-6.47

Macay Holdings

30.00

-6.25

Vivant Corp.

31.05

-5.77

Benguet Corp `A'

6.5600

-5.61

Benguet Corp `B'

6.7500

-4.93

TUESDAY, AUGUST 2, 2016

High Low

Change (%)

Jackstones

THE STANDARD BUSINESS DAILY STOCKS REVIEW 52 Weeks

Close (P)

%

Net Foreign

Change Volume

Trade/Buying

32.50 1.79 3.37 29.60 0.95 1.050 6.080

0.00 0.00 -0.30 -0.84 0.00 0.96 0.33

1,104,600 322,000 25,000 6,499,200 740,000 775,000 2,277,400

7.34 50 1.23 0.600 5.7 5.72 0.1080 2.89 115 10.1 5.65 3.22 2250 6.33 15.66 20.30 1.21 64.3 20.30 160 0.0091 9.37 0.335 1.7400 3.88 13 6.69 3.03 1.03 2.58 19.98 0.610 2.01 3.4 5.73 3.550 11.94 5.32 9.5 135.00 14.32 1962.00 0.460 1.090 48.00 87.50 6.37 3.33 0.630 3.56 0.335 6.730

0.55 0.00 0.00 1.69 -0.35 -0.52 -0.92 -3.02 1.14 0.00 2.73 -1.83 -0.09 0.48 -2.85 0.00 0.83 -0.62 1.91 -8.57 2.25 0.21 0.00 -1.14 42.12 -1.37 4.69 0.00 -2.83 0.00 0.00 -1.61 0.50 -2.30 4.18 4.41 0.00 0.38 13.77 -0.74 -4.53 -8.15 -1.08 -1.80 0.00 2.34 -0.31 2.78 -1.56 -0.28 1.52 0.45

50,800 67,270 35,000 995,000 20,600 2,766,800 424,890,000 4,751,000 2,213,750 900 115,900 1,000 60,645 43,000 302,600 400 210,000 988,150 33,600 1,240 213,000,000 418,000 6,580,000 441,000 8,267,000 19,600 1,002,900 125,000 144,000 23,000 300 70,000 106,000 4,017,000 10,638,200 3,835,000 6,600 35,700 75,000 10,240 291,600 314,572 7,360,000 10,473,000 810,200 592,590 360,200 3,990,000 13,375,000 658,000 10,000 91,600

0.0041 3.16 4.27 0.230 6.5600 6.7500 0.61 0.485 8.45 0.850 0.285 0.228 0.242 0.0120 0.0130 1.73 5.74 2.91 0.5700 1.1000 0.0110 0.0120 4.13 8.80 3.92 0.0130 119.40 3.68 0.0110

-2.38 1.28 0.23 -1.71 -5.61 -4.93 0.00 0.00 -0.71 -2.30 -1.72 -1.72 -0.82 0.00 0.00 -1.14 -0.86 0.34 1.79 0.92 0.00 0.00 0.73 0.11 -2.00 8.33 -0.50 -0.54 0.00

592,000,000 260,000 216,000 200,000 19,600 2,900 185,000 150,000 700 24,038,000 7,710,000 21,360,000 360,000 56,900,000 58,000,000 402,000 7,750,400 18,000 133,000 163,000 13,000,000 400,000 6,000 1,381,700 2,831,000 9,000,000 257,560 118,000 217,400,000

49.8 520 545 105.4 119 546 6.1 1.07 112.9 1043 1021 77.5 81.5 76.05 79 79.9 76.6 77.3 2.57

1.22 0.00 -0.09 0.76 0.00 0.28 0.16 0.00 0.80 0.00 -0.39 0.00 0.49 0.00 0.00 0.06 -0.45 0.06 4.47

1,122,200 1,000 4,040 38,350 2,090 10 313,000 10,000 6,510 265 1,280 40,680 32,000 27,010 82,000 52,400 136,810 108,350 27,000

2.600

0.39

346,000

5.06 3.71 5.06 17.54

0.80 0.27 -3.44 -2.56

2,761,100 30,000 751,400 2,563,100

132

0.00

6,950

13,748,190.00 -102,030.00 3,025,380.00 0.00 -3,120.00

-3,826,578.00 -127,050.00 -14,750.00 87,821,869.00 276,431.00 46,283,180.00 17,246.00 -8,468,806.50 21,500.00

-41,860.00 -504,632 -28,380.00

-2,243,270.00 573,822.00 -95,520.00

-10,760.00 -252,080.00 -20,537,480.00 32,100.00 -5,014,680.00 16,690,100.00 -5,253,559.00 192,226.00 692,910.00 -506,000.00 -829,470.00 397,875.00 24,720.00 21,160.00

1,227,950.00

-378,560.00 -35,245.00 2,910.00

1,928,244.00 -1,104,060.00 3,855,036.00

24,182,625.00 -259,750.00

-1,140,830.00

-3,086,000.00 -1,622,000

2,271,500.00 -409,425.00

220,256.00 -37,500.00 -2,778,808.00

VALUE 1,860.60 (up) 21.09 1,375,048,222.30 FINANCIAL INDUSTRIAL 12,172.97 (down) 16.86 1,634,878,999.81 HOLDING FIRMS 7,963.22 (down) 8.56 1,663,854,506.58 PROPERTY 3,615.35 (down) 2.67 1,611.17 (down) 53.71 856,384,506.58 SERVICES MINING & OIL 11,113,14 (down) 54.48 1,522,053,826.69 PSEI 8,037.78 (down) 32.03 136,843,362.034 All Shares Index 4,761.17 (down) 30.79 7,254,161,627.53 Gainers: 104; Losers: 101; Unchanged: 44; Total: 249

Ongpin obtains reprieve from CA

By Jenniffer B. Austria

THE Court of Appeals issued a restraining order stopping the Securities and Exchange Commission from implementing its decision on insider trading case against former trade minister Roberto Ongpin.

The appellate court said in a resolution on Aug. 1 the 60-day restraining order was issued “to prevent serious damage” against Ongpin, who was slapped with a P174-million fine by SEC and was disqualified from being an officer or a member of the board of directors of any public company for allegedly committing insider trading in the sale of Philex Mining shares in 2009.

“Gauging from the complexity of the matters at hand and seeing that the circumstances in this case present an urgent and paramount necessity to prevent serious damage upon petitioner Ongpin since the assailed decision of the SEC en banc may, at any time, be implemented pursuant to section 12 of rule 43 of the Rules of Court, we resolve to grant the prayer for the issuance of a temporary restraining order,” CA said.

PSBank registers income of P1.2b

By Julito G. Rada PHILIPPINE Savings Bank, the thrift bank unit of Metropolitan Bank & Trust Co., said Tuesday net income grew 2.2 percent in the first half to P1.2 billion from P1.1 billion a year ago.

PSBank said in a statement the six-month performance was driven by a 10-percent increase in core income, composed of revenues from consumer loans, investments and fee-based income.

Total loans grew 13.2 percent to P121.3 billion, fueled by auto and mortgage loans. PSBank said despite the double-digit growth of its loan portfolio, it kept the non-performing loan ratio at 1.2 percent, with NPL coverage of 82 percent.

Total resources increased 18.4 percent to P176.5 billion as of end-June 2016.

“The ’customer-centric’ mindset continues to give us positive financial results through prudent lending and increased stable funding,” PSBank president Vicente Cuna Jr. said.

“The bank also received local and international recognitions as a testament to its efforts to introduce innovation and for being the market standout in delivering top-quality customer service.

Understanding the needs of our clients remains our priority,” Cuna said.

CYAN CYANMAGENTA MAGENTAYELLOW YELLOWBLACK BLACK

Business

Manila Manila

Standard Standard TODAY

TODAY

B3

WEDNESDAY, AUGUST 3, 2016 extrastory2000@gmail.com

IN BRIEF UK to speed up free trade deals

THE United Kingdom will step up the process of bilateral engagements with individual countries, including the Philippines, after breaking away from the European Union.

UK ambassador to the Philippines Asif Ahmad told reporters at the sidelines of a forum of the British Chamber of Commerce of the Philippines the Philippines was one of the top 40 countries it would prioritize in negotiating a free trade agreement.

“We as an independent country from the EU, (will be) left to decide how we incorporate that into the national arrangement.

If for any reason the EU FTA comes later, then the UK (will) independently work on a list of countries which starts with the biggest economies and working its way through the emerging powers which the Philippines is a part of,” he said. Othel V. Campos

Excise tax pushed on sugar products

GENUINE TAX REFORM. Officials of the Trade Department and Bureau of Internal Revenue sign a pledge of support for genuine tax reform for the benefit of taxpayers and businesses.

Shown are (from left) Center for Strategic Reforms of the Philippines president Mon Abrea, lawyer Lanee David, BIR deputy commissioner Nestor Valeroso, Trade Secretary Ramon Lopez, BIR commissioner Caesar Dulay, DTI regional operations group undersecretary Zenaida Maglaya, industry promotions group undersecretary Nora Terrado and management services group assistant secretary Ireneo Vizmonte.

Tetangco sees higher nd growth in 2 quarter G

ROWTH in the Philippines probably matched or exceeded the 6.9 percent pace in the first quarter that made it one of the fastest-expanding emerging markets, according to the nation’s central bank governor.

“Based on leading indicators, we believe that the rate of growth will continue, so it is going to be about the same, if not better” in the second quarter, Bangko Sentral ng Pilipinas Governor Amando Tetangco said in an interview on Monday in Bali, where he attended a conference of global central bankers. “Exports have slowed but domestic sources of growth continue to be strong.”

The Southeast Asian economy expanded at the fastest pace in almost three years in the first quarter, spurred by

THE Finance Department on Tuesday said it may impose an excise tax on sweetened beverage to offset possible revenue losses from cut in the personal and corporate income taxes.

Finance spokesperson Paola Alvarez told reporters during a forum Finance would possibly push for the excise tax on sugar products.

“The one in the pipeline, the bill submitted by Congress... will depend on the sugar content. Right now the bill passed [by Congress] was only for softdrinks. But it still under consideration because we need to (consult)the other sectors involved in the sugar industry,” Alvarez said.

Finance has not determined yet the revenue collection from the proposal.

“We can’t peg a number because the study we are conducting is for a tax package. It may be a combination of either or [excise tax on fuel and softdrinks],” she added.

spending ahead of a presidential election growth are soothing nerves, he said. but if fluctuations become disorderly, the in May. The government of new President “Both of these moves have been quite authorities will intervene, the governor Rodrigo Duterte is forecasting growth of positive for the market and have led to some said.

6 percent to 7 percent this year. risk-on behavior again,” he said. “As a result “What we don’t want to see is too much Central banks in Asia, from Indonesia to we have seen capital flow back to emerging volatility or too sharp movements in the South Korea, have been easing policy this markets, including the Philippines. The exchange rate,” he said. “That is when we year to counter a slowdown in the global capital flows are providing liquidity to the reserve some scope for official action in economy and the fallout from Britain’s Manila fiManila nancial system.” the market if there is too much volatility.”

Standard Standard shock vote to exit the European Union in The benchmark stock index has gained Bloomberg TODAY TODAY Gabrielle H. Binaday June. The Philippines central bank lowered 16 percent this year, while its benchmark rate to 3 percent in May as the peso is up 0.2 percent 040608 040608 (Bank Code) (Bank Code) METRO part of an overhaul of its policy framework. against the dollar.

METROSOUTH SOUTHCOOPERATIVE COOPERATIVEBANK BANK IDC Centre, Zapote Street cor.

Kalayaan Avenue, Brgy.

Sta. Cruz, Makati City IDC Centre, Zapote Street cor.

Kalayaan Avenue, Brgy.

Sta. Cruz, Makati City “We believe we have enough policy Duterte pledged in his first space to deal with exogenous shocks,” state of the nation speech BALANCE BALANCESHEET SHEET AsAs ofofJUNE 30, 2016 JUNE 30, 2016 Tetangco said. last week to improve on AA SSS EE TS Amount TS Amount A dovish turn by the US Federal Reserve the economic policies of Account Code Account Code Current Quarter Quarter Current Quarter Previous Previous Quarter Cash andand Cash Items 108000000000000000 2,688,460.32 833,736.25 Cash Cash Items 108000000000000000 2,688,460.32 833,736.25 earlier this year has helped reverse risk his predecessor, including Due from Bangko Sentral ng ng Pilipinas 105150000000000000 46,843,157.11 47,274,241.93 Due from Bangko Sentral Pilipinas 105150000000000000 46,843,157.11 47,274,241.93 105200000000000000 535,231,491,82 396396 924924 999,25 Due from Other Banks Due from Other Banks 105200000000000000 535,231,491,82 999,25 aversion on global markets and send lowering taxes and easing Financial Assets at Fair Value through Profit or Loss 112000000000000000 0.00 0.00 Financial Assets at Fair Value through Profit or Loss 112000000000000000 0.00 0.00 Available-for-Sale Financial Assets-Net 195200000000000000 0.00 0.00 Available-for-Sale Financial Assets-Net 195200000000000000 0.00 0.00 capital flows back to the Philippines, he restrictions on foreign Held-to-Maturity (HTM) Financial Assets-Net 195250000000000000 20,000 000.00 20,000,000,00 195250000000000000 20,000 000.00 20,000,000,00 Held-to-Maturity (HTM) Financial Assets-Net Unquoted Debt Securities Classified as as Loans-Net 195300000000000000 0.00 0.00 Unquoted Debt Securities Classified Loans-Net 195300000000000000 0.00 0.00 said. While some of the inflows may be investment. Tetangco said the Investments in Non-Marketable Equity Security-Net 195350000000000000 0.00 0.00 Investments in Non-Marketable Equity Security-Net 195350000000000000 0.00 0.00 Loans andand Receivables - Net 195400000000000000 1,789,179,986.33 1,869,411,003.80 Loans Receivables - Net 195400000000000000 1,789,179,986.33 1,869,411,003.80 short term in nature, the central bank government’s plan to spend Loans to Bangko Sentral ng ng Pilipinas 140050000000000000 0.00 0.00 Loans to Bangko Sentral Pilipinas 140050000000000000 0.00 0.00 Interbank Loans Receivable 195401000000000000 0.00 0.00 Interbank Loans Receivable 195401000000000000 0.00 0.00 is well placed to absorb their impact, more on infrastructure will be 140150500000000000 1,831 ,818,189.86 1,930,684,286.39 Loans andand Receivables - Others Loans Receivables - Others 140150500000000000 1,831 ,818,189.86 1,930,684,286.39 Loans andand Receivables Arising from RA/CA/PR/SLB 195402000000000000 0.00 0.00 Loans Receivables Arising from RA/CA/PR/SLB 195402000000000000 0.00 0.00 according to the governor. The likelihood a positive for the economy.

General Loan Loss Provision 175150000000000000 42,638,203.53 61,273,282.59 General Loan Loss Provision 175150000000000000 42,638,203.53 61,273,282.59 148000000000000000 23,211,466.15 25,835,979.22 Other Financial Assets 148000000000000000 23,211,466.15 25,835,979.22 Other Financial Assets of fewer-than-expected US rate hikes The currency’s moves are Equity Investment in Subsidiaries, Associates andand Joint Ventures-Net 195452500000000000 0.00 0.00 Equity Investment in Subsidiaries, Associates Joint Ventures-Net 195452500000000000 0.00 0.00 195500500000000000 41,154,797.83 42,247,177.53 Bank Premises, Furniture, Fixture andand Equipment-Net 195500500000000000 41,154,797.83 42,247,177.53 Bank Premises, Furniture, Fixture Equipment-Net coupled with Japan’s moves to stimulate in line with regional peers Real andand Other Properties Acquired-Net 195501000000000000 19,415,254.68 18,971,196.96 Real Other Properties Acquired-Net 195501000000000000 19,415,254.68 18,971,196.96

Finance to widen coverage of LTS unit He said Duterte’s directive to the DoF are “not easy orders” to accomplish, especially when it comes to THE Finance Department said Tuesday said it will be reforming the tax system to make it fairer for the middle “aggressive” in going after the Large Taxpayers Service class and bringing corporate tax rates to competitive unit to further boost government revenues and offset levels. possible losses from the proposed lowering of personal and corporate income tax rates.

BOARD BOARDRESOLUTION RESOLUTION006 006 Finance Secretary Carlos Dominguez III Series Seriesofof2016 2016 said in a forum the LTS unit was the largest loophole in the collection of the Bureau of DIRECTOR’S DIRECTOR’SCERTIFICATE CERTIFICATE Internal Revenue.

We, We,the theundersigned undersignedmajority majoritymembers membersofofthe theBoard BoardofofDirectors Directors “At the BIR, the largest loophole appears to andthe theCorporate CorporateSecretary SecretaryofofF.R. F.R.INTERNATIONAL INTERNATIONALPLACEMENT PLACEMENT be the Large Taxpayers Unit. This unit collects and AGENCY, AGENCY,INC. INC.dodohereby herebycertify certifythat thatthe theArticles ArticlesofofIncorporation Incorporationofofsaid said from the biggest industries in the country, Corporation Corporationwas wasamended amendedbybymajority majorityvote voteofofthe theDirectors Directorsand andthe thevote voteofof theStockholders Stockholdersrepresenting representingatatleast leastTwo-Thirds Two-Thirds(2/3 (2/3) of ) ofthe theOutstanding Outstanding even if it covers less than 3,000 companies,” the Capital CapitalStock Stockatata ameeting meetingheld heldononJULY JULY02, 02,2016 2016atatthe theprincipal principaloffice officeofof Dominguez said in a forum in Makati City. ndnd the theCorporation CorporationRoom RoomA,A,Right RightWing, Wing,2 2 Floor, Floor,Aussie AussieTowers Towers, 1418 , 1418 “If this unit can collect more efficiently, it should M.H.Del M.H.DelPilar PilarStreet, Street,Ermita, Ermita,Manila, Manila,Philippines.

Philippines. be possible to raise enough revenues at least to compensate for the lower tax rates,” he added.

The The amended amended provisions provisions ofof the the attached attachedAmended AmendedArticles Articles ofof Incorporationrefers referstotoArticle ArticleIIIIII(Change (ChangeofofAddress) Address)and andArticle ArticleVII VII Latest available data showed that the BIR Incorporation (IncreaseofofCapital CapitalStock).

Stock). collected P659.96 billion in the first five (Increase months of 2016, up 11 percent year-on-year.

Change ChangeofofOffice OfficeAddress Addressfrom fromRoom RoomA,A,Right RightWing, Wing,2nd 2ndFloor, Floor,Aussie Aussie Towers , 1418 M.H.DelPilar Street, Ermita, Manila, Philippines Towers , 1418 M.H.DelPilar Street, Ermita, Manila, PhilippinestoUnit toUnit204, 204, Collections from the LTS unit amounted to nd nd Right RightWing, Wing,2 2 Floor, Floor,Aussie AussieTowers Towers, ,1418 1418M.H.DelPilar M.H.DelPilarStreet, Street,ofofthe the P402.45 billion, up P40.44 billion or 11 percent same samebuilding buildingErmita, Ermita,Manila, Manila,Philippines.

Philippines. from a year ago.

Dominguez said Finance might double the coverage of the LTS from 2,800 companies.

NORMA JANEER NORMAB.B.USMAN USMAN JANEERB.B.USMAN USMAN Board Director/Corporate BoardChairman Chairman& &President President Director/CorporateSecretary Secretary “We are going to put more effort in tax TIN: TIN: TIN:941-307-013 941-307-013 TIN:947-693-689 947-693-689 collections and the biggest yields you get are in the relatively large taxpayers. I can’t see why there’s only 2,800. It should be more that that.

OMAR HASMIR OMARKC KCB.B.USMAN USMAN HASMIRB.B.USMAN USMAN BIR should expand that number,” he said.

Director Director Director Director Asked if the unit would follow President Rodrigo TIN: TIN: TIN:939-480-297 939-480-297 TIN:947-693-698 947-693-698 Duterte’s name and shame campaign in eliminating illegal drug usage in the country, Dominguez said KEISE MOHARRY KEISET.T.USMAN USMAN MOHARRYM.M.ABDULSALAM ABDULSALAM Director Director Director Director the department would be “aggressive.”

TIN: TIN: TIN:901-481-828 901-481-828 TIN:169-590-620 169-590-620 “In our particular case, collecting tax is a th th little more complex than getting people to ININWITNESS WITNESSWHEREOF, WHEREOF,we wehave havehereunto hereuntoset setour ourhands handsthis this2828 day of JULY 2016 at Manila, Philippines. day of JULY 2016 at Manila, Philippines. surrender for drugs. It’s going to aggressive but I don’t know if it will be as aggressive as that Certified Attested CertifiedTrue True& &Correct: Correct: Attestedby: by: one,” he said.

“I hope that taxpayers do not require us to make JANEER NORMA JANEERB.B.USMAN USMAN NORMAB.B.USMAN USMAN it that aggressive. We expect more compliance.

Corporate Board CorporateSecretary Secretary BoardChairman Chairman& &President President TIN: TIN: TIN:947-693-689 947-693-689 TIN:941-307-013 941-307-013 And we will be very happy if they just cough up the money that they owe us,” he added.

By Gabrielle H. Binaday

Non-Current Assets Held forfor Sale Non-Current Assets Held Sale Other Assets-Net Other Assets-Net NetNet Due from Head Office/Branches/Agencies, if any (Philippine branch of aofforeign bank) Due from Head Office/Branches/Agencies, if any (Philippine branch a foreign bank) TOTAL ASSETS TOTAL ASSETS L ILAIBA IBLIILTIITEI SE S Financial Liabilities at Fair Value through Profit or Loss Financial Liabilities at Fair Value through Profit or Loss Deposit Liabilities Deposit Liabilities Due to Other Banks Due to Other Banks Bills Payable Bills Payable a) BSP (Rediscounting andand Other Advances) a) BSP (Rediscounting Other Advances) b) Interbank Loans Payable b) Interbank Loans Payable c) Other Deposit Substitute c) Other Deposit Substitute d) Others d) Others Bonds Payable-Net Bonds Payable-Net Unsecured Subordinated Debt-Net Unsecured Subordinated Debt-Net Redeemable Preferred Shares Redeemable Preferred Shares Special Time Deposit Special Time Deposit Due to Bangko Sentral ng ng Pilipinas Due to Bangko Sentral Pilipinas Other Financial Liabilities Other Financial Liabilities Other Liabilities Other Liabilities NetNet Due to Head Office/Branches/Agencies (Philippine branch of aofforeign bank) Due to Head Office/Branches/Agencies (Philippine branch a foreign bank) TOTAL LIABILITIES TOTAL LIABILITIES Stockholders’ Equity Stockholders’ Equity Capital Stock Capital Stock Other Capital Accounts Other Capital Accounts Retained Earnings Retained Earnings Assigned Capital Assigned Capital TOTAL STOCKHOLDERS’ EQUITY TOTAL STOCKHOLDERS’ EQUITY TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY CONTINGENT ACCOUNTS CONTINGENT ACCOUNTS Guarantees Issued Guarantees Issued Financial Standby Letters of Credit Financial Standby Letters of Credit Performance Standby Letters of Credit Performance Standby Letters of Credit Commercial Letters of Credit Commercial Letters of Credit Trade Related Guarantees Trade Related Guarantees Commitments Commitments Spot Foreign Exchange Contracts Spot Foreign Exchange Contracts Securities Held Under Custodianship by by Bank Proper Securities Held Under Custodianship Bank Proper Trust Department Accounts Trust Department Accounts a) Trust andand Other Fiduciary Accounts a) Trust Other Fiduciary Accounts b) Agency Accounts b) Agency Accounts c) Advisory/Consultancy c) Advisory/Consultancy Derivatives Derivatives Others Others TOTAL CONTINGENT ACCOUNTS TOTAL CONTINGENT ACCOUNTS ADDITIONAL INFORMATION ADDITIONAL INFORMATION Gross total loan portfolio (TLP) Gross total loan portfolio (TLP) Specific allowance forfor credit losses on on thethe TLP Specific allowance credit losses TLP Non-Performing Loans (NPLs) Non-Performing Loans (NPLs) a. Gross NPLs a. Gross NPLs b. Ratio of gross NPLs to gross TLP (%)(%) b. Ratio of gross NPLs to gross TLP c. Net NPLs c. Net NPLs d. Ratio of Net NPLs to gross TLP (%)(%) d. Ratio of Net NPLs to gross TLP Classified Loans & Other Risk Assets, gross of allowance forfor credit losses Classified Loans & Other Risk Assets, gross of allowance credit losses DOSRI Loans andand receivables, gross allowance of credit losses DOSRI Loans receivables, gross allowance of credit losses Ratio of DOSRI loans andand receivables, gross of allowance for for credit losses, to gross TLPTLP (%)(%) Ratio of DOSRI loans receivables, gross of allowance credit losses, to gross Gross non-performing loans andand receivables Gross non-performingDOSRI DOSRI loans receivables Ratio of ofgross non-performing DOSRI loans andand receivables to TLP (%)(%) Ratio gross non-performing DOSRI loans receivables to TLP Percent Compliance withwith Magna Carta (%)(%) Percent Compliance Magna Carta a. a.8%8% forfor Micro andand Small Enterprises Micro Small Enterprises b. b.2%2% forfor Medium Enterprises Medium Enterprises Return on on Equity (ROE) (%)(%) Return Equity (ROE) Capital Adequacy Ratio (CAR) on on Solo Basis, as as prescribed under existing Capital Adequacy Ratio (CAR) Solo Basis, prescribed under existing regulations regulations a. Total CAR (%)(%) a. Total CAR b. Tier 1 Ratio (%)(%) b. Tier 1 Ratio c. Common TierTier 1 Ratio (%)(%) 1/ 1/ c. Common 1 Ratio Deferred Charges notnot yetyet Written Down Deferred Charges Written Down Unbooked Allowance forfor Credit Losses on on Financial Instruments Received Unbooked Allowance Credit Losses Financial Instruments Received

150150000000000000 150150000000000000 152000000000000000 152000000000000000 155250000000000000 155250000000000000 100000000000000000 100000000000000000

0.00 0.00 8,834,440.78 8,834,440.78 0.00 0.00 2,486,559,055.02 2,486,559,055.02

0.00 0.00 10,299,519.45 10,299,519.45 0.00 0.00 2,431,797,854.39 2,431,797,854.39

208000000000000000 208000000000000000 215000000000000000 215000000000000000 220050000000000000 220050000000000000 220100000000000000 220100000000000000 220100001500000000 220100001500000000 220100002000000000 220100002000000000 220100002500000000 220100002500000000 220100003000000000 220100003000000000 295201500000000000 295201500000000000 295202000000000000 295202000000000000 220250000000000000 220250000000000000 220300000000000000 220300000000000000 230350000000000000 230350000000000000 240050000000000000 240050000000000000 240100000000000000 240100000000000000 230850000000000000 230850000000000000 200000000000000000 200000000000000000

0.00 0.00 1,475,316,840.90 1,475,316,840.90 0.00 0.00 442,154,166.68 442,154,166.68 0.00 0.00 442,154 166,68 442,154 166,68 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,472,313.37 6,472,313.37 53,796,181.59 53,796,181.59 0.00 0.00 1,977,739,502.54 1,977,739,502.54

0.00 0.00 1,369,173,664.74 1,369,173,664.74 0.00 0.00 511,166,666.68 511,166,666.68 0.00 0.00 511,166,666.68 511,166,666.68 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,556,161.64 6,556,161.64 50,849,737.44 50,849,737.44 0.00 0.00 1,937,746,230.50 1,937,746,230.50

335050000000000000 335050000000000000 335100000000000000 335100000000000000 315000000000000000 315000000000000000 325200000000000000 325200000000000000 300000000000000000 300000000000000000 905000000000000000 905000000000000000

439439 024024 300,00 300,00 22,772,575.07 22,772,575.07 47,022,677.41 47,022,677.41 0.00 0.00 508,819,552.48 508,819,552.48 2,486,559,055.02 2,486,559,055.02

419,369,966.21 419,369,966.21 3,737,471 ,66,66 3,737,471 70,944,186.02 70,944,186.02 0.00 0.00 494,051,623.89 494,051,623.89 2,431,797,854.39 2,431,797,854.39

405000000000000000 405000000000000000 410050000000000000 410050000000000000 410100000000000000 410100000000000000 415000000000000000 415000000000000000 420000000000000000 420000000000000000 425000000000000000 425000000000000000 430000000000000000 430000000000000000 495220000000000000 495220000000000000 495250000000000000 495250000000000000 495250500000000000 495250500000000000 495251000000000000 495251000000000000 495251500000000000 495251500000000000 435000000000000000 435000000000000000 440000000000000000 440000000000000000 400000000000000000 400000000000000000

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,410,948.91 3,410,948.91 3,410,948.91 3,410,948.91

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,410,873.91 3,410,873.91 3,410,873.91 3,410,873.91

499020000000000000 499020000000000000 499300000000000000 499300000000000000

1,864,486,589.32 1,864,486,589.32 32,668,399.46 32,668,399.46

1,937,217,606.79 1,937,217,606.79 6,533,320.40 6,533,320.40

499100500000000000 499100500000000000 499150500000000000 499150500000000000 499101000000000000 499101000000000000 499151000000000000 499151000000000000 499200000000000000 499200000000000000 499400000000000000 499400000000000000 499480000000000000 499480000000000000 499500000000000000 499500000000000000 499550000000000000 499550000000000000

254,870,865.76 254,870,865.76 13.67 13.67 222,202,466.30 222,202,466.30 11.92 11.92 45.00 45.00 122,514,209.31 122,514,209.31 6.57 6.57 0.00 0.00 0.00 0.00

214,764,097.34 214,764,097.34 11.09 11.09 208,230,776.94 208,230,776.94 10.75 10.75 45.00 45.00 132,564,520.74 132,564,520.74 6.84 6.84 0.00 0.00 0.00 0.00

499050500000000000 499050500000000000 499051000000000000 499051000000000000 499350000000000000 499350000000000000

15.71 15.71 23.62 23.62 10.00 10.00

14.75 14.75 13.62 13.62 4.00 4.00

499650500500000000 499650500500000000 499650501000000000 499650501000000000 499650501500000000 499650501500000000 499700000000000000 499700000000000000 499750000000000000 499750000000000000

18.25 18.25 458.16 458.16 0.00 0.00 0.00 0.00 0.00 0.00

18.30 18.30 452.22 452.22 0.00 0.00 0.00 0.00 0.00 0.00

1/ Common Equity Tier 1 is1 only applicable to all Universal and Commercial Banks and their subsidiary banks.

1/ Common Equity Tier is only applicable to all Universal and Commercial Banks and their subsidiary banks.

Republic of of thethe Philippines Republic Philippines) ) Makati City) Makati City)s.s. s.s.

I/We, RODA L. L. CRUZ and RENELIA V. V. ESTIOKO thethe above-mentioned bank dodo solemnly swear that allall matters setset forth in in thethe I/We, RODA CRUZ and RENELIA ESTIOKOof of above-mentioned bank solemnly swear that matters forth above balance sheet are true and correct to to thethe best of of my/our knowledge and belief. above balance sheet are true and correct best my/our knowledge and belief.

RODA L. L. CRUZ RODA CRUZ Finance Head Finance Head

RENELIA V. V. ESTIOKO RENELIA ESTIOKO President President

th th SUBSCRIBED AND SWORN to to before meme this 2525 day of of July at at Makati City, affiant exhibiting his/her/their Passport No.EB5924413, SUBSCRIBED AND SWORN before this day July Makati City, affiant exhibiting his/her/their Passport No.EB5924413, issued at atManila City July 13,13, 2012 and Passport No. EB6029990, issued at atManila City onon July 25,25, 2012. issued Manila Cityonon July 2012 and Passport No. EB6029990, issued Manila City July 2012.

Doc. No. 213 Doc. No. 213 Book No. LXXIX Book No. LXXIX Page No. Page No.4444 Series of of 2016 Series 2016

(TS-AUG. 3, 2016) (TS-AUG. 3, 2016)

CYAN CYANMAGENTA MAGENTAYELLOW YELLOWBLACK BLACK

Ray S. Eñano, Editor business@manilastandardtoday.com extrastory2000@gmail.com

B4

WEDNESDAY, AUGUST 3, 2016

Business

Items are seen on sale at a clothing store in Sydney on August 2, 2016. Australia’s central bank cut interest rates to a new record-low on August 2 in a widely expected decision after a recent run of soft inflation readings. AFP

Oil falls below $40 a barrel OIL traded near $40 a barrel before weekly US government stockpile data and after falling into a bear market on concern the global supply glut will persist.

Futures were little changed in New York after dropping below $40 on Monday for the first time since April. While crude and gasoline inventories are forecast to have declined, they will remain at the highest seasonal level in at least two decades. Nigeria has resumed payments to former militants as the government seeks a ceasefire after attacks cut output to the lowest since 1989.

Oil has tumbled more than 20 percent from its peak in June, meeting the common definition of a bear market and ending a recovery that saw prices almost double from a 12-year low in February. The supply glut is upsetting industry expectations, with BP Plc, Royal Dutch Shell Plc and Exxon Mobil Corp. reporting second-quarter earnings last week that were worse than estimated.

“Oversupply continues to weigh on the market,” said David Lennox, an analyst at Fat Prophets in Sydney. “We still think the $40 a barrel level is an area where the price will hold because we have seen it bounce off there before.”

West Texas Intermediate for September delivery was at $40.08 a barrel on the New York Mercantile Exchange, up 2 cents, at 1:58 p.m. Hong Kong time. The contract slid $1.54, or 3.7 percent, to $40.06 on Monday, the lowest close since April 18. Total volume traded was about 46 percent below the 100-day average.

Bloomberg

Australia cuts rate to new low

S

YDNEY―Australia’s central bank dropped interest rates to a new record low Tuesday after a recent run of soft inflation readings, with some economists forecasting further cuts ahead.

The 25 basis point cut to 1.5 percent means the Reserve Bank of Australia has slashed rates by 300 basis points since November 2011 to support the economy as it transitions towards nonresources growth after a mining investment boom.

“The board judged that prospects for sustainable growth in the economy, with inflation returning to target over time,

would be improved by easing monetary policy at this meeting,” bank governor Glenn Stevens said in a statement.

The decision follows official figures last month showing that consumer prices fell to a 17-year annual low of 1.0 percent in April-June, well off the RBA’s inflation target of 2.0-3.0 percent.

Treasurer Scott Morrison de-

nied that the cut was a sign of a struggling economy, saying that Australia was posting 3.1-percent growth, while Stevens said it was unlikely to overheat the housing market.

The majority of economists had forecast that the RBA, an inflation-targeting central bank, would cut interest rates, with 20 out of 25 surveyed by Bloomberg News predicting the move.

The Australian dollar fell 0.4 percent to 75.09 US cents at 2.33pm in Sydney (0430 GMT), according to Bloomberg.

Commenting on the global economy, Stevens noted that the underlying pace of growth in Australia’s largest trading part-

ner China “appears to be moderating.”

Australia has been growing more strongly than most of the world’s advanced economies but like most countries is struggling to kickstart inflation, with oil prices subdued and global trade tepid.

Wages growth has also remained soft, while “labor market indicators continue to be somewhat mixed but are consistent with a modest pace of expansion in employment in the near term”, Stevens said.

“It’s not that they’ve got a newly bearish view of the economy or that inflation was materially different from their expectations, it was more that they cut

rates back in May and felt that they had room to do it further this month,” National Australia Bank senior economist David de Garis told AFP. The rate cut is expected to take some time to feed through to possibly pushing up consumer prices, with the RBA’s own forecasts in May expecting inflation to only lift towards the target band in late 2017 or in 2018.

“We think that (low inflation) is going to persist for a while and we think that, on balance, the next few inflation prints are going to drive the RBA into more action, most likely in the firsthalf of next year,” JP Morgan senior economist Ben Jarman told

Reclaimed city off Singapore triggers ecology fears

By Martin Abbugao JOHOR BAHRU―A planned multi-billion-dollar new city near Singapore is attracting interest from investors with promises of luxury living but there are questions over its future owing to China’s economic woes and warnings of environmental catastrophe.

Forest City, a $42-billion futuristic “eco-city” of high-rises and waterfront villas, will sit on four man-made islands on the Malaysian side of the Johor Strait just an hour from Singapore.

Offering 700,000 residential units as well as shopping malls, international schools, hotels, convention venues and medical facilities on 3,425 acres (1,370 hectares), the city will even have its own immigration center.

The venture is being developed by Hong Kong-listed real estate giant Country Garden and a firm partly owned by Johor’s powerful Sultan Ibrahim Iskandar with an eye on cashedup Chinese buyers.

“It is by far one of the most enthusiastic private land reclamation projects I have heard of around the Southeast Asia region,” said Chua Yang Liang, head of research for Southeast Asia at property services and investment group Jones Lang Lasalle.

Officials say they have shifted 500 units in pre-selling already, despite the development not due to be completed until 2035. During a visit by AFP, sales executive Alex Lee said he had sold 10 properties in one

This picture taken on April 19, 2016 shows the scale model of development at Forest-City on one of the man-made islands on the Malaysian side of the Straits of Johor. AFP

sitting with a Chinese businessman, who paid cash.

Investors can pay anything from $200,000 for a two-bedroom unit, up to $1.6 million for a seaside villa.

By comparison, a mass market condominium in Singapore costs around $740,000―which in Forest City would buy a fourroom seaside villa with a function hall, two parking lots and a large garden.

But some analysts question the project’s long-term sales targets as China’s economy struggles to break out of a growth slowdown that has seen expansion fall to 25-year lows, while authorities clamp down on a flight of cash from the country.

Somewhat ambitious’ At the same time Standard & Poor’s said it was “cautious” about Forest City after it downgraded Country Garden’s longterm corporate rating in March to “BB” from “BB+”, citing risks from its aggressive land acquisitions.

It called sales targets “somewhat ambitious given this is a new large-scale project and targets primarily mainland (Chinese) overseas buyers.”

And even if the project is a success, campaigners say it could prove to be a disaster for the local ecology and fishermen who complain of dwindling catches.

While its website describes

it as a “liveable eco-city,” environmentalists say the dumping of sand to build the new city― an estimated 162 million cubic metres (5.7 billion cubic feet)― could alter tides and destroy marine life.

“It has the potential to change the ecology of the whole area in profound ways,” Greenpeace scientist Paul Johnston told AFP. “It might change the things that are living there, it might change the vegetation that can grow there.”

Local activists say at most risk of destruction is Malaysia’s largest intertidal seagrass meadow on Merambong shoal off Johor.

The reclamation has also

ruffled feathers in Singapore, with the city-state’s environment ministry saying it is “carefully” studying an impact assessment report provided by Malaysia and is seeking further clarifications.

Confident An environmental study commissioned by the Forest City joint venture firm, Country Garden Pacificview Sdn Bhd, acknowledged a “permanent loss of traditional fishing ground” and damage to seagrass meadows and mangroves due to the development.

But it added that this would be balanced by the project’s economic benefits, including the creation of an estimated 62,200 jobs.

Country Garden Pacificview executive director Mohamad Othman Yusof said developers were strictly following guidelines laid down by the Malaysian government to minimize the environmental impact.

He said at least 20 simulation studies were carried out before the reclamation was approved, while the project’s original size of 5,000 acres was cut by 30 percent and “double silt curtains” installed to prevent silt and sediment from spreading and polluting the waterway.

“No damage, no pollution has been exported to Singapore,” Othman said. “We don’t want to create any problems with anybody and we’re going to abide by the rules and regulations.”

Water quality is monitored closely following complaints by Malaysian fishermen, he said.

“We are very confident about the success of the islands,” said Othman. AFP

AFP. Leading Australian economist, Bill Evans of Westpac Bank, said the RBA was expected to sit on the sidelines and observe the next few growth and inflation readings before acting again, with uncertainty about the global economic environment also a key factor.

“For us the real issue will be the environment in 2017 when the housing cycle will be in reverse; jobs growth may have cooled; global growth, particularly in this region, will have slowed further; and Australia’s interest rates may still be attractive to international investors,” Evans said in a note. AFP

Japan set to disburse $45b more

JAPAN’S government is set to announce 4.6 trillion yen ($45 billion) in extra spending for the current fiscal year, according to a draft of the plan being discussed by ruling party lawmakers ahead of a cabinet meeting later Tuesday.

The spending is part of what Prime Minister Shinzo Abe has flagged as a 28-trillion yen stimulus package aimed at bolstering the economy over several years without abandoning targets to cut borrowing.

Abe revealed the overall size of the package in a speech last week, saying more investment was needed to expand the world’s third-largest economy. He said funds would be used to provide better port facilities for cruise ships and accelerate the construction of a high-speed maglev train line.

The plan includes 13.5 trillion yen of fiscal measures―including 7.5 trillion yen in new spending starting this year, and 6 trillion yen in low-cost loans, according to the draft obtained by Bloomberg. The measures include: 3.4t yen for steps to improve demographics 6.2t yen for infrastructure 1.3t yen to mitigate Brexit risks, help smaller companies and regions 2.7t yen for relief measures for April’s Kumamoto quakes and 2011 Tohoku disaster.

Beyond the current year’s spending, the package will be made up of fiscal measures under next year’s budget along with loans that will probably be spread over several years. The package is the latest in a long series that have had limited impact on the economy, while Abe’s promised structural reforms―tackling areas like employment regulation―have fallen short of expectations. Bloomberg

LGUs LOCAL GOVERNMENT UNITS

WEDNESDAY, AUGUST 3, 2016

C1

DUSK. Cape Bojeador Lighthouse sits atop the Vigia de Nagpartian Hill in Burgos, Ilocos Norte. Sonny Espiritu

‘Give us share of sin tax’

By Robert A. Evora

S

AN JOSE, Occidental Mindoro—Tobacco farmers from this agricultural municipality have asked the government to give them their fair share of the tobacco excise tax.

The farmers said the Department of Budget and Management in March released the sum of P30,765,641 for the local government of San Jose as its LGU shares from tobacco excise tax under Republic Act 8240.

Based on guidelines issued last March by the DBM through

former Budget secretary Florencio Abad, P10.69 billion were released to tobacco-producing LGUs nationwide.

Of the amount, P10.19 billion covers the excise tax on cigarettes and the remaining P503.9 million are taxes on tobacco.

Alberto Pelaez, 61, of Bgy. Magbay, and leader of the tobac-

co farmers’ group, Samahan Ng Magsasaka Ng Tabako Ng San Jose, said they had not received their share of the tobacco excise tax due them although they were made to sign a masterlist last May. Pelaez said a certain Kagawad Bituin Manguerra, of Bgy. Bayotbot, made them sign a masterlist of San Jose tobacco farmerbeneficiaries who would receive either P15,000 cash each or its equivalent in water pumps for their use in their farms.

The tobacco farmers, numbering 1,316, came from the agricultural barangays of Magbay, Murtha, Canwaling, La Curva, Bayotbot and Camburay.

Erlinda Bilog, 66, also of Bgy. Magbay, said she was made to sign on May 6 in behalf of her dead son, Emerson Bilog, 23, a tobacco farmer, by Manguerra for a water pump to be used for irrigation of their farmland.

“But it’s August already and the water pump has not been given,” she said.

San Jose is second among the 10 LGUs with the highest share from the 2013 collection of burley and native tobacco excise tax under RA 8240. The other nine LGUs producing burley and native tobaccos come from the provinces of Isabela, Ilocos Sur and Cagayan.

The Virginia-type tobacco producing municipalities come from La Union, Ilocos Norte and Ilocos Sur. They receive the highest shares from the 2013 collection of excise tax on locally manufactured Virginiatype cigarettes.

Farmers of San Jose turn to tobacco growing as an alternate to palay farming after the harvest season. Planting of burley and native tobaccos is usually done during the cold months of December.

Harvest and drying come from March to June.

Pelaez said they need support from the National Tobacco

QC saves P246m due to waste segregation

By Rio N. Araja QUEZON City saved P246 million in 2015 because of the strict implementation of its waste segregation, the Commission on Audit said.

A recent report by CoA said the city government shelled out P768,305,813 for its environment and sanitary services expenditures last year, 24.2 percent less than the P1.014 billion it spent in 2014.

The figure was also a sixyear low for the city government, the CoA said.

The city paid P755.265 million in 2009, P828.714 million in 2010, P920.758 million in 2011, and P903.715 million in 2013.

Makati City, the country’s business and financial hub, was the third biggest spender, with

Binay sets retraining of Mapsa enforcers

P445.561 million also in 2014.

To ease the local government’s burden, Quezon City Mayor Herbert Bautista implemented Ordinance 2235 in December 2013, charging households a garbage fee ranging from P100 to P500.

In February 2014, the Supreme Court issued a temporary restraining order and directed the refund of garbage fees collected from real-estate taxpayers.

CoA commended Quezon City’s Environment Protection and Waste Management Department for implementing waste-reduction initiatives on a grassroot approach, such as the waste segregation, establishment of material-recovery facilities, solid waste management summit for barangay officials and homeowners’ associations, and plastic bag reduction.

LGU makes ice cream from greens, fish, meat K-12 recalls Bangsamoro history

By Brenda Jocson WEEDING. Farmer Elsa Florendo, the president of the Barangay Parag-um Farmers Association of Carigara, Leyte, uproots the weeds in her rice field in Barangay Barugohay, Central Carigara, Leyte. Mel Caspe

CABARROGUIS, Quirino— Popularly known as Sorbetes, the ice cream business which is a One Town-One Product of Saguday town has launched its tilapia, chicken, malunggay, squash, dragon fruit and banana flavors.

Supported by the Department of Trade and Industry office in the province, the flourishing ice cream business flavors is produced in Barangay Rizal in Saguday town by at least 20 small entrepreneurs.

The DTI said the Sorbetes was initially launched with pinipig, buko, ube and cheese flavors and their products were

only sold in streets in motorized carts with bells in the different villages of Saguday.

In 2014, officials of the provincial government here and the DTI prepared a Developmental Framework Plan which was presented to the local government unit of Saguday, which was eventually approved.

Various trainings and product development conducted where the DTI also granted Shared Service Facilities to Saguday town’s Rizal Rural Improvement Club.

The OTOP ice cream products in Saguday have spread to the nearby towns of Aglipay, Cabarroguis and Diffun and it is also one of the favorites in trade fair exhibits and special celebrations.

Administration because “local tobacco farmers are often shortchanged by buyers from a giant cigarette manufacturing company which has the monopoly of the trade.”

Under the law, 15 percent of tax collections will go to tobacco-producing provinces to be spent for the benefit of tobacco farmers.

While the bulk of the remaining collections will go to the government’s universal healthcare program, which provides Philippine Health Insurance Corp., medical assistance and heath facilities to millions of poor families.

By A. Perez Rimando

COTABATO CITY—The country’s students will soon have a deeper understanding of the Bangsamoro struggle to attain genuine peace and order in Mindanao with the scheduled integration next school year of its history in the Department of Education’s K-12 curriculum, a peace process officer said here recently.

The K-12 curriculum, introduced nationwide by the DepEd in school year 20112012, consists of kindergarten, a six-year elementary education, a four-year junior high

school (Grades 7, 8, 9 and 10) and a two-year senior high school (Grades 11 and 12) curriculum. Grade 11 was initially enforced last month.

A report to Autonomous Region in Muslim Mindanao Gov. Mujiv Hataman from the Office of the Presidential Adviser on the Peace Process (OPAPP) said incorporating the history of Bangsamoro in the K-12 curriculum “is part of the government’s continued initiatives for Truth, Justice and Reconciliation (TJR) which is a major dimension of the Bangsamoro peace process.”

The OPAPP had worked with the DepEd even before the

TJR Commission report came out, adding that “the template for the pilot integration into the K-12 curriculum would be finished before the start of next school year.”

It previously conducted a seminar-workshop at the Cotabato City-based Notre Dame University for the government bureaucracy on the Bangsamoro narrative which later was piloted in several areas of Southern Philippines.

Other OPAPP initiatives designed “to help heal the wounds inflicted by the decades-long Mindanao conflict were also undertaken.”

MAKATI Mayor Abby Binay has ordered the retraining of the traffic enforcers of the Makati Public Safety Department (Mapsa) to improve their professional competence and instill ethical responsibility in them so they can render better public service.

“There is an immediate need for our Mapsa traffic enforcers to undergo retraining on traffic rules and traffic management. Their training will also include value formation and personality development so they can do their jobs with competence, integrity and decorum,” Binay said.

Around 600 traffic enforcers are set to undergo a refresher course from Aug. 27 until Sept. 17 this year, the Mapsa said.

Binay also encouraged the public to report erring enforcers through the city’s official Twitter account, @MakatiTraffic, and My Makati on Facebook.

The enforcers have been the object of criticism and ridicule on some social media sites. Netizens were quick to point out those riding a motorcycle without a helmet, and accused some of wrongful apprehension, extortion and rudeness.

Meanwhile, city personnel officer Vissia Marie Aldon said the casual employees of Mapsa whose contracts ended on June 30 can reapply as has been practiced in government.

CYAN MAGENTA YELLOW BLACK Manila

Standard

Republic of the Philippines TODAY ENERGY REGULATORY COMMISSION San Miguel Ave., Pasig City

IN THE MATTER OF THE APPLICATION FOR APPROVAL OF THE POWER SUPPLY AGREEMENT (PSA) BETWEEN SAMAR II ELECTRIC COOPERATIVE INC. AND GNPOWER LTD. CO. WITH PRAYER FOR CONFIDENTIAL TREATMENT OF INFORMATION AND THE ISSUANCE OF PROVISIONAL AUTHORITY SAMAR II ELECTRIC COOPERATIVE, INC. (SAMELCO II) AND GNPOWER LTD. CO. (GNPOWER)

13.

14.

A.

ERC Case No. 2016-027 RC B.

Applicants. x-------------------------------------------------------x

TO ALL INTERESTED PARTIES:

Exchange of Contracted Capacities. To maximize capacity utilization, Region 8 ECs may exchange quantities of their Contracted Capacities. (Exchange in MW Capacity Protocol annexed to the PSA) C. Contract Price Under Schedule 1 of the PSA, the Total Monthly Charge, before taxes, for a Billing Period shall be computed according to the following Total Monthly Charge = Capacity Charge + Energy Charge C. 1. Capacity Fee and Capacity Charge The Capacity Fee is the ‘component of the Contract Price allocated to pay for the cost, as well .as, the operations and maintenance of the Facility and is designated as the Capacity Fee in Schedule 1 of the PSA as such may be adjusted from time to time based on SAMELCO II’s Capacity Utilization Factor.

On 15 March 2016, Samar II Electric Cooperative, Inc. (SAMELCO, II) and GNPower Ltd. Co. (GNPower) filed their joint Application for approval of their Power Supply Agreement (PSA), with prayer for confidential treatment of information and issuance of provisional authority.

In support of said Application, SAMELCO II and GNPower alleged, among others, the following:

2.

Annex “A” “B” “C” “D” 3.

Applicant SAMELCO II is a non-stock, non-profit electric cooperative existing under the laws of the Philippines, with principal office address at Paranas, Samar. It is authorized to distribute and provide electricity services to its memberconsumers in the Municipalities of Calbiga, Daram, Talalora, San Jose de Buan, Motiong, Jiaborig, Catbalogan, Villareal, San Sebastian, Paranas (Wright), Hinabangan, Basey, Zumarraga, Santa Rita, Pinabacdao, and Marabut, all in the Province of Samar, (collectively, the “Franchise Area”); Copies of SAMELCO II’s Articles of •Incorporation, By-Laws, Certificate of Registration, and Certificate of Franchise are attached to the Application as follows: Document SAMELCO II’s Articles of Incorporation SAMELCO II’s By-laws Certificate of Registration with the National Electrification Administration (NEA) Certificate of Franchise Applicant GNPOWER is a duly registered limited partnership existing under Philippine laws, engaged in the business• of developing, constructing, operating, and owning power generation facilities and in the sale and trade of electric power.

•Its principal office is at 28th Floor, Orient Square Building, Don Francisco Ortigas Jr. Road, Ortigas Center, Pasig City;

4.

GNPOWER’s pertinent documents evidencing its due registration as a limited partnership are appended to the Application, as follows: Annex Document Certificate of Registration issued by the Securities and “E” Exchange Commission (SEC) “F” GNPOWER’s Amended Articles of Partnership 5.

Applicants may be served with orders, notices, and other legal processes of the Commission through its counsels of record;

6.

The instant Application is filed pursuant to Sections 23, 25, 43 (u), and 45 (b) of Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act of 2001 (EPIRA Law), its Implementing Rules and Regulations, and other pertinent rules and regulations. A copy •of the PSA signed by Applicants on 18 September 2015 is attached as Annex “G” and forms an integral part of the Application;

7.

STATEMENT OF FACTS The aggregated uncontracted baseload demand of Region 8 for years 2015 to 2018 is continually increasing as shown in the table below:

Contract Year

Contract Duration

2015 2016 2017 2018

Dec. 26, 2014 – Dec. 25, 2015 Dec. 26, 2015 – Dec. 25, 2016 Dec. 26, 2016 – Dec. 25, 2017 Dec. 26, 2017 – Dec. 25, 2018

8.

9.

10.

11.

12.

Where: QACTUAL

=

CC HT

= =

EHTO

=

CAPACITY FEE LOCAL PRICE COMPONENTS (PHP/ kWh)

100% 99% 98% 97% 96% 95% 94% 93% 92% 91% 90% 89% 88% 87% 86% 85% 84% 83% 82% 81% 80% 79% 78% 77% 76% 75% 74% 73% 72% 71% 70%

Typhoon Yolanda hit the region on 08 November 2013 stalling any efforts to contract additional power supply and shifting the focus instead on the massive restoration efforts in the area; Thus, the Region 8 ECs decided to bid out their power supply requirements for the period 2015 - 2018. In the middle of 2014, the Region 8 ECs conducted a Joint Power Supply Planning.

Later, the Region 8 ECs decided, through a Memorandum of Agreement (MOA), to conduct a joint procurement of their shortterm aggregated baseload requirement, specifically, their power supply needs beginning 26 December 2015 until 25 December 2016. From September to December 2014, the competitive bidding for the region’s power requirements was held; For such purpose, a Bids and Awards Committee was created to conduct the Region 8 Joint Competitive Power Supply Procurement (“R8 JCPSP”) as follows: 12.1 The Region 8 ECs initially prepared their respective least-cost power supply plans and subsequently their aggregated baseload demand for competitive bidding; 12.2. The competitive tender was published and announced in the coverage areas of the Region 8 ECs. In addition, prospective bidders (Generation Companies, IPP Administrators and Wholesale Aggregators whose names are listed on the Department of Energy (DOE) website) were invited; 12.3. The capacity offered by the winning bidder/s was allocated among the eleven (11) Region 8 ECs in proportion to their declared demand. A bidder was allowed to offer to supply capacity that is less than or equal to the aggregated baseload requirement in any or all of the contract years in increments of 1MW. In the event that some winning bidders offered less than 11 MW, the loads were optimally allocated in such a way that the blended price of generation resulting from the R8 JCPSP transaction is almost the same for all ECs. In the event multiple bidders who collectively satisfy the total baseload demand of R8 ECs are declared winners for any contract year, all winning bidders entered into individual PSAs with each of the 11 ECs;

For the resulting CUF which is not a whole number, the corresponding Capacity Fee Price C6mponent shall be computed using the formula below:

LCRCUF = LFOM CUF = Where: LCRCUF

–

LCR@100%

–

LFOMCUF

–

LFOM@100%

–

CUF

–

“H-1-a” “H-2” “H-3” “H-4” “H-5” “H-6” “H-7” “H-8”

CUF

LFOM

= D. E.

is the local component of the Capital Recovery fee in PHP/kWh at the given CUF. is the local component of the Capital Recovery fee in PHP/kWh at 100% CUF. is the local component of the Fixed O&M fee in PHP/ kWh at the given CUF. is the local component of the Fixed O&M fee in PHP/ kWh at 100% CUF. is the Capacity Utilization Factor between 70% and 100%, provided that if the actual CUF is below 70% (the “Minimum Capacity Utilization Factor”), the Capacity Price shall be calculated based on the Capacity Fee and quantity associated with the Minimum Capacity Utilization Factor.

=

CC HT

= =

EHTO

=

the actual quantity of energy, in kWh, delivered to SAMELCO II at the Delivery Point in the Billing Period the Contracted Capacity, in kWh, as set forth in Schedule 1 the total number of hours in such Billing Period the sum of the duration, in Equivalent Hours, of Scheduled Outages and Unscheduled Outages in such Billing Period

C. 2. Energy Fee and Energy Charge The Energy Fee is the component of the Contract Price allocated to pay for the coal, including Government Charges, designated as the Energy Fee in Schedule 1 of the PSA as adjusted from time to time due to changes in the delivered price of coal and Governmental Charges. The Energy Fee shall be computed in accordance with the following formula: Energy Charge = QACTUAL x EF + 1.5256 x

=

EF PHCPIn-1

= =

PHCPI0

=

H.

+ 0.2375

Actual energy delivered by GNPOWER to SAMELCO II, in kWh, for the Billing Period Energy Fee in PhP/kWh Philippine Consumer Price Index of the calendar month prior to the month corresponding to the Billing Period, for All Income Households – All Items (2006 = 100), as published by the Philippine National Statistics Coordination Board (or as substitute or replacement agency, as the case may be) base Philippine Consumer Price Index for the month of December 2014 for All Income Households – All Items

(2006 = 100), as published by the Philippine National Statistics Coordination Board (or its substitute or replacement agency, as the case may be) Indonesian Coal Price Index of the calendar month prior to the month corresponding to the Billing Period, in US$/ Mton Base Indonesian Coal Price Index for the month of December 2014 = US$67.28/Mton

Currency of Payment The Contract Price shall be paid by SAMELCO II in Philippine Peso only.

Scheduled and Unscheduled Outages Under the PSA, GNPOWER shall be allowed Scheduled and Unscheduled Outages not to exceed forty-five (45) days per Contract Year, during which time reduced or no delivery will be available to SAMELCOII. Unutilized Equivalent Hours for Scheduled Outages and Unscheduled Outages in the Contract Year cannot be carried forward to subsequent Contract Year.

Replacement Power During any Scheduled or Unscheduled Outages, GNPOWER and SAMELCO II shall cooperate to arrange for Replacement Power from, including but not limited to, other facilities of GNPOWER, third parties and the WESM. GNPOWER, at its own cost and in consultation with SAMELCO II, shall negotiate on behalf of SAMELCO II for the supply and delivery of capacity and energy from third parties for a price as close as possible to the Contract Price.

Prompt Payment Discount Provided SAMELCO II has no arrears from previous billings, including the Security Deposit or any unpaid charges or penalties, if SAMELCO II pays the invoice amount in full within 10 days from its receipt of the invoice, SAMELCO II shall be credited on the next subsequent bill a PPD equivalent to eight centavos per kilowatt-hour (PhP0.08/kWh).

Security Deposit In the event of SAMELCO II’s failure to pay on Due Date, GNPOWER shall draw, at its option, from the Security Deposit on the working day immediately following the Due Date. Within thirty (30) Business Days from the Start of Delivery Date, SAMELCO II shall establish • the Security Deposit and submit to GNPOWER documentary proof sufficient to allow GNPOWER to draw therefrom. The Security Deposit shall be in the form of cash and or irrevocable letter of credit and shall be equivalent to SAMELCO II’s projected maximum electricity bill, to be determined not later than sixty (60) calendar days prior to Start of Delivery.

COMMERCIAL ADVANTAGE OF THE GENERATION RATE AND IMPACT ON SAMELCO I’S RETAIL RATES 15. SAMELCO II, together with the other Region 8 ECs, needs to address the insufficiency of its power supply due to the increasing demand within its franchise area and the expiration of its contract with NPC-PSALM; 16. Currently, SAMELCO II receives a total of 7MW from its existing suppliers, out of its peak requirement of 2.651MW. With an annual average growth rate of 5%, SAMELCO II forecasts that its peak demand 17. The additional supply from GNPOWER will significantly augment the supply deficiency of SAMELCO II and will decrease the adverse effects thereof by providing a stable and adequate source of electricity; 18. Among alternative suppliers capable of providing additional energy to SAMELCO II and the rest of the Region 8 ECs, GNPOWER’s rates proved to be more reasonable and competitive. While GNPOWER’s offer is primarily intended for its base load requirements, the Capacity Factor Pricing PSA provides flexibility in the DUs’ utilization of the Contracted Capacity; 19. SAMELCO II simulated a rate impact analysis which resulted in a Php0.0950/kWh decrease with the execution of the PSA with GNPOWER, to wit:1 1. Simulation of Generation Mix Rate WITH GNPOWER for the Year 2016 Power Supplier

Forecasted 2015 Quantity (kWh)

Amount (PhP)

Percent Share (%)

GMCP TRANS-ASIA GNPOWER WESM TOTAL

36,773,750.00 17,520,000.00 29,419,000.00 (13,538,416.20) 70,174,333.80

175,686,590.63 95,012,712.00 163,602,000.90 (69,157,405.17) 365,143,898.35

52.40% 24.97% 41.92% -19.29% 100%

Resulting Capacity Factor (%) 83% 100% 84%

2. Simulation of Generation Mix Rate WITHOUT GNPOWER for the Year 2016 Resulting Forecasted Percent Power Capacity 2015 Quantity Amount (PhP) Share Supplier Factor (kWh) (%) (%) GMCP 36,773,750.00 175,686,590.63 52.40% 83% TRANS-ASIA 17,520,000.00 95,012,712.00 24.97% 100% GNPOWER WESM 15,880,583.80 101,113,206.09 22.63% TOTAL 70,174,333.80 371,812,508.71 100% Generation Rate Impact 20.

21.

ANNEX “I” “J” “K” “K-1” “L” “M” “N” “P” “Q” “R”

Where: QACTUAL

Where: QACTUAL

G.

“O”

CUF = max

EF = 0.2874 x

F.

CUF

12.5. The process followed the 2-envelope system - the legal requirements and proof of financial and technical capability in the first, and the commercial offer in the second. Bids were evaluated based on an Evaluation Framework and Evaluation Methodology released to the Bidders;

Attached to the Application are copies of the relevant documents issued relative to the Joint Competitive• Selection Process undertaken by the Region 8 ECs for the supply of their aggregated base load demand: Document Invitation to Bid Copy of the page of the newspaper where the Invitation was published Affidavit of Publication of the Invitation to Bid Memorandum of Agreement among Region 8 ECs Emails confirming participation of interested suppliers in the bidding Final Instruction to Bidders Bid Forms Bid Evaluation Slips Comparison of Bids Notice of Award

ICI0

LFOM @100%

The Capacity Utilization Factor (CUF) shall be computed as follows:

12.7. On 14 September 2015, GNPOWER and the Region 8 ECs commenced the final negotiations for the other commercial and technical terms and conditions of the PSA and negotiated the further reduction of the Contract Price from PhP5.’0481/kWh to PhP 4.9653/kWh and for the increase in capacity to 52MW;

“H-1”

LCR@100%

12.4. Bidders who signified their intention to join by buying the bid documents, attended pre-bid conferences where they gave their comments and sought clarification on the bidding requirement and process. The BAC issued bid bulletins and the Final Instruction to Bidders;

12.6. After evaluating the bids of each supplier, on 14 November 2014, the BAC declared Applicant GNPOWER as a winning bidder of a total of 43 MW for Contract Year 2016, with a Lowest Calculated Responsive Bid with a Base Price offer of PhP5.0481/kWh and an evaluated Effective Price of PhP6.6658/kWh;

Annex “H”

Fixed O&M (LFOMCUF) 0.6204 0.6267 0.6331 0.6396 0.6463 0.6531 0.6600 0.6671 0.6743 0.6818 0.6893 0.6971 0.7050 0.7131 0.7214 0.7299 0.7386 0.7475 0.7566 0.7659 0.7755 0.7853 0.7954 0.8057 0.8163 0.8272 0.8384 0.8499 0.8617 0.8738 0.8863

Capital Recovery (LCRCUF) 2.2944 2.3176 2.3412 2.3654 2.3900 2.4152 2.4409 2.4671 2.4939 2.5213 2.5493 2.5780 2.6073 2.6372 2.6679 2.6993 2.7314 2.7643 2.7980 2.8326 2.8680 2.9043 2.9415 2.9797 3.0189 3.0592 3.1005 3.1430 3.1867 3.2315 3.2777

C.U.F.

The contracts of most of the Electric Cooperatives (ECs) i n Region 8 with the National Power Corporation Power Sector Assets and Liabilities Management Corporation (NPCPSALM) expired on 25 December 2014; On 07 November 2013, the eleven (11) ECs of Region 8 participated in the bidding for PSALM’s 200 strips of energy from the Unified Leyte Geothermal Power Plant, but lost;

=

the actual energy delivered, in kWh, to the Buyer at the Delivery Point for the Billing Period. is the Contracted Capacity in kW. is the total number of hours in the Billing Period.

the sum of the duration, in Equivalent Hours, of Scheduled Outages and Unscheduled Outages in such Billing Period CFCUF = the Capacity Fee in PhP/kWh for a given CUF in a Billing month.

LCRCUF = the local component of the Capital Recovery Fee in PhP/kWh at the given CUF. LFOMCUF = the local component of the Fixed O&M fee in PhP/kWh at the given CUF. PHCPIn-1 = Philippine Consumer Price Index of the calendar month prior to the month corresponding to the Billing Period, for All Income Households – All Items (2006=100), as published by the Philippine National Statistics Coordination Board (or its substitute or replacement agency, as the case may be). = the base Philippine Consumer Price Index for the month PHCPI0 of December 2014. PHCPI0 = 140.5.

CUF = the Capacity Utilization Factor between 70% and 100%, provided that if the actual CUF is below 70% (the “Minimum Capacity Utilization Factor”), the Capacity Price shall be calculated based on the Capacity Fee and quantity associated with the Minimum Capacity Utilization Factor.

The corresponding Capacity Fee price component for a given Capacity Utilization Factor is set forth in the Table below: Capacity Fees for Specific Capacity Utilization Factor

Aggregated Baseload 65 MW 78 MW 83 MW 93 MW

ICIn-1

Contracted Capacity GNPOWER shall sell and deliver, or cause to deliver to SAMELCO II a. contracted capacity of 4MW at the delivery point of the facility.

Unutilized Capacity. The unutilized capacity of the Buyer may be made available for utilization• of other Region 8 ECs or sold to the WESM.

NOTICE OF PUBLIC HEARING

1.

On 18 September 2015, SAMELCO II and GNPOWER executed the subject PSA, providing the terms and conditions for the supply of 4 MW baseload power to SAMELCO II, to assure the adequate and reliable supply of power to SAMELCO II’s franchise area; ABSTRACT OF THE PSA AND OTHER RELATED INFORMATION The following are the salient features of the PSA: Term The Agreement shall be effective from 18 September 2015, the date of the execution of the PSA. • For the delivery of the contracted capacity, it shall have a term of one (1) year, starting on 26 December 2015 (12:00 A.M.) to 25 December 2016 (12:00 M.N.)

“S” ”T”

2016 Average Rate (P/kWh) 4.7775 5.4231 6.2298 5.1082

Weighted Average Rate (kWh)

2016 Average Rate (P/kWh) 4.7775 5.4231

Weighted Average Rate (kWh)

6.3671

5.2034

5.2984

-0.0950

In addition to the lower generation cost of the power supply from GNPOWER, SAMELCO II is also entitled to a Prompt Payment Discount (PPD), if conditions are met, equivalent to PhP0.08/kWh; In compliance with Rule 20 of ERC Rules of Practice and Procedure relative .to the submission of supporting documents and. information for the approval of the PSA and the rate structure embodied therein, Applicants attached to the Application following documents to form integral parts thereof: DOCUMENT Executive Summary of the PSA, as amended Rate Impact Simulation Sources of Funds/Financial Plans with Cost Assumptions Compact Disc containing a soft copy of Annex “K” Breakdown of the Contract Price Sample Computation of Power Rates GNPOWER’s Audited Financial Statement for 2014 GNPOWER’s Certificate of Registration No. WA-13-01-001 valid until January 2018 SAMELCO II’s Distribution Development Plan (DDP) SAMELCO II’s Actual and Forecasted Energy and Demand SAMELCO II’s Average Daily Load Curve SAMELCO II’s Board Resolution No. 80-S-2015 authorizing the filing of an application with the ERC for the approval of PSA, as amended, and designating its General Manager to represent SAMELCO II in such filing GNPOWER’s General Partner’s Certificate attesting to the resolution of the Board to execute the subject PSA with SAMELCO II, as amended, designating signatories thereto

22.

Applicants reserve their right to submit other documents, either in the course of the hearing or as may be required by the Commission; COMPLIANCE WITH PRE-FILING REQUIREMENTS 23. Applicants manifest compliance with the pre-filing requirements mandated under the Implementing Rules and Regulations of the EPIRA and Rule 6of the ERC Rules of Practice and Procedure, to be established by the following: 23.1 Certifications acknowledging receipt of the Application with annexes to be issued by the Legislative Bodies of Pasig City, Municipality of Paranas, and the Province of Samar, to be appended as Annexes “V”, “W” and. “X”, respectively; 23.2. Notarized Affidavit of Publication stating that the Application was published in a newspaper of general circulation within SAMELCO II’s Franchise Area, to be appended to the Application as Annex “Y’’; and 23.3. Complete newspaper issue where the Application was published, to be appended to the Application as Annex “Y-1”, and the relevant page thereof where the Application appears, as Annex “Y-2”; MOTION FOR CONFIDENTIAL TREATMENT OF ANNEXES “H-2” to “H-8”, “K”, and “K-1” 24. Under Rule 4 of the ERC Rules of Practice and Procedure, a party to any proceeding before the Commission may request that certain information not be disclosed and be treated as confidential, by describing with particularity the information ‘to be treated as confidential, specifying the ground for the claim of confidential treatment of the information and, if applicable, specifying the period during which the information must not be disclosed; 25. SAMELCOII requests for the confidential treatment of Annexes “H-2” to “H-8” of the Application, consisting of the MOA among Region 8 ECs, e-mails confirming participation of interested suppliers in the bidding, Final Instructions to Bidders, Bid Forms, Bid Evaluation Slips, Comparison of Bids, and Notice of Award, respectively. These annexes show the individual offers of the bidders• which participated in the R8 JCPSP. The Region 8 ECs, SAMELCO II included, are bound by their undertaking to secure and keep in confidence the offers and the proposed terms of supply, so as not to prejudice or pre-empt any future CSPs in which these bidders will participate. Otherwise, SAMELCO II and the rest of the Region 8 ECs may be held liable for damages for breach of confidentiality, and eventually, risk their good relations with the suppliers concerned;

CYAN MAGENTA YELLOW BLACK

CYAN MAGENTA YELLOW BLACK

CYAN MAGENTA YELLOW BLACK

Manila

26. Similarly, GNPOWER respectfully moves for the confidential Standard treatment of Annexes “K” and “K-1” hereof, consisting of

GNPOWER’s Sources of Funds and Financial Plans with Cost Assumptions. These annexes, exclusively owned by GNPOWER, contain information which are considered part of its business and trade secrets. As such, GNPOWER has the sole proprietary interest and will be unduly prejudiced should they be disclosed to the public;

27.

28.

29.

30.

31.

32.

Accordingly, Annexes “H-2” to “H-8”, “K” and “K-1” be accorded confidential treatment. As such, they are to be used exclusively by the Commission and for the sole purpose of evaluating this Application, thereby protecting these data from unnecessary public disclosure; In accordance with Section 1(b), Rule 4 of the ERC Rules of Practice and Procedure, Applicants submit one (1) copy each of Annexes “H-2” to “H-8”, “K” and “K-1” in a sealed envelope, with the envelope and each page of the documents stamped with the word “Confidential”; PRAYER FOR PROVISIONAL AUTHORITY All the foregoing allegations are re-pleaded by reference in support of their prayer for the issuance of Provisional Authority (PA) to implement the subject PSA; SAMELCO II and GNPOWER pray for the issuance of a PA or interim relief prior to final decision pursuant to Rule 14 of the ERC Rules of Practice and Procedure, to wit: “Section 3. Action on the Motion. - Motions for provisional authority or interim relief may be acted upon with or without hearing. The Commission shall act on the motion on the basis of the allegations of the Application or petition and supporting documents and other evidences that applicant or petitioner has submitted and the comments or opposition filed by any interested person, if there be any.”

33.

34.

35.

Republic of the Philippines CITY OF SAN PEDRO Province of Laguna BIDS AND AWARDS COMMITTEE

These annexes contain numbers, data, formula, methodology, and calculations involving valuable and sensitive commercial, financial information reflecting GNPOWER’s business operations and financial trade secrets. Therefore, GNPOWER’s confidential, proprietary, and private information included in the aforesaid annexes should be protected from public dissemination. Otherwise, such information can be illegally and unfairly utilized by business competitors who may use the same for their own private gain and to the irreparable prejudice of GNPOWER. Negotiations with prospective customers may also be affected.

The information contained in Annexes “K” and “K-1”, constitute “trade secrets”, for which GNPOWER has actual and valuable proprietary interest. As explained by the Supreme Court, a trade secret may consist of any formula, pattern, device, or compilation of information• that is used in one’s business and gives the employer an opportunity to obtain an advantage over competitors who do not possess the information . It is indubitable that trade secrets constitute proprietary rights and jurisprudence has consistently acknowledged the private character of trade secrets . Further, as ruled in Garcia vs. Board of Investment , trade secrets and confidential, commercial and financial information are exempt from public scrutiny;

Considering that a substantial amount of time is needed to evaluate the documents submitted to support the approval of • herein Application, Applicants seek consideration of the Commission to approve the instant Application, immediately, albeit, provisionally; Owing to the short term of the contract, which is only for a period of one (1) year a PA is all the more imperative to allow the timely delivery of energy by GNPOWER to SAMELCO II, which is set to start on 26 December 2015 at 12:00 A.M.; The Region 8 EC’s, including SAMELCO II, after careful evaluation if they will defer the commencement of the delivery due to delayed filing, decided and required GNPower to commence its delivery immediately after its previous power supply agreement expired last 25 December 2015, this being the reasonable plan to mitigate the risks of WESM exposure, specially with the assumption that the 2015 occurrence of El -Nino has an adverse impact on the supply of electricity and the WESM price, particularly during the summer season.

SAMELCO II, Moreover, it was projected, as shown in the table below, that the exposure to volatile market prices will cause significant increases in prudential guarantee payments which will constrain Region 8 ECs to avail of high interestbearing loans in order to comply with PEMC requirement;

P.O. Box 2926 T. M. Kalaw Street, Ermita 1000 Manila, Philippines

The Procuring Entity through its Bids and Awards Committee (BAC), invites bidders/supplies to apply for eligibility and to bid for the hereunder procurement:

NAME OF PROJECT

: Proposed Demolition of Illegal Structures and Construction/Restoration of Perimeter Wall/Fence : along Garcia St., Brgy. San Vicente : Php 2,482,408.76 : CDC Budget Approved by the Sangguniang Panglungsod CONTRACT DURATION : 120 Calendar Days LOCATION ABC SOURCE OF FUND

The City Government of San Pedro, Laguna now invites contractors registered with and classified by the Philippine Contractors Accreditation Board (PCAB) to apply for eligibility and if found eligible, to bid for the above-mentioned projects. Completion of the Works is required on or before the contract duration.Bidders should have completed, two (2) calendar years from the date of submission and receipt of bids, a contract similar to the Project. The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II. Instructions to Bidders. Bids received in excess of the Approved Budget for the Contract shall be automatically rejected at bid opening Bidding will be conducted through open competitive bidding procedures using nondiscretionary pass/fail criterion as specified in the Implementing Rules and Regulations (IRR) of Republic Act 9184 (RA 9184), otherwise known as the “Government Procurement Reform Act”. Bidding is restricted, unless otherwise stated, to Filipino citizens/sole proprietorships, partnerships, or organizations with at least seventy five percent (75%) interest or outstanding capital stock belonging to citizens of the Philippines, and to citizens or organizations of a country the laws or regulations of which grant similar rights or privileges to Filipino citizens, pursuant to Republic Act 5183 (RA 5183) and subject to Commonwealth Act 138 (CA 138).Only bids from eligible bidders will be opened. In accordance with the IRR-A of R.A 9184, the contract/project shall only be awarded to the Lowest Calculated and Responsive Bidder who was determined as such during post-qualification.

Interested bidders may obtain further information from the City Government of San Pedro, Laguna and inspect the Bidding Documents at the address given below from 8:30AM to 9:30 AM only.

Office of BAC Secretariat 4/F Conf.Rm. City Administrator’s Office San Pedro City Hall A complete set of Bidding Documents may be purchased by interested Bidders from the address above and upon payment of a non-refundable fee for the Bidding Documents in the amount of PESOS: 5,000.00.

Name of Project Location Approved Budget Contract

Office of BAC Secretariat 4/F Conf.Rm. City Administrator’s Office San Pedro City Hall Pre-Bid Conference: August 8, 2016 Office of BAC A SSecretariat ure Bet for Progress in Gaming, Entertainment and Nation Building 4/F Conf.Rm. City Administrator’s Office San Pedro City Hall

INVITATION TO BID FOR SUPPLY ANDof DELIVERY OFforms SIX and (6) in All bids must be accompanied

by THE a bid security in any the acceptable AND MAINTENANCE STOCKinITEMS FORofCASINO the LOTS amount REPAIR stated in ITB Clause 18. Bids will be opened the presence the bidders’ FILIPINO TAGAYTAY representatives who choose to attend at–the address above. Late bids shall not be accepted.

UNDER ITB NO. PB16-014TAG-07 All relative toandEligibility Statement (PAGCOR) and Screening, Security, The particulars Philippine Amusement Gaming Corporation is invitingBid all interested Performance Security, Pre-Bidding Conference, Evaluation of Bids, bidders in its forthcoming public bidding for the Supply and Delivery of Post-Qualification Six (6) Lots Repair and of Contract shallfor beCasino governed by the pertinent provisions of R.A. 9184 and and Awards Maintenance Stock Items Filipino - Tagaytay under ITB No. PB16-014TAG-07. its Implementing Rules and Regulations (IRR).

Supply and Delivery of Six (6) Lots Repair and Maintenance

Stock Items Lagunareserves for Casino Filipinothe - Tagaytay The City Government of San Pedro, right to accept or reject any bid, to annul the bidding process, and to reject all bids at any time prior to contract Lot 1 - any Supply Delivery of Civil Works / Carpentry award, without thereby incurring liabilityand to the affected bidder or bidders.

Materials;

For further information, please refer to:

Supply and Delivery of Painting Materials; Supply and Delivery of Electrical Materials; Supply and Delivery of Plumbing Materials; Supply and Delivery of Mechanical Materials; and

(sgd) ENGR. FILEMON I.Lot SIBULO 6Supply and Delivery of Upholstery Materials Chairman Delivery Schedule Within Thirty (30) calendar days from the effectivity date Bids and Awards Committee specified in the Notice to Proceed.

Approved Budget for the Contract (ABC):

(TS-AUG. 3, 2016)

The total ABC for the project is in the amount of Two Million Seventy Thousand One Hundred Thirty-Eight Republic of the Philippines Pesos (PhP2,070,138.00), VAT Exclusive, Zero Rated Transaction.

CITY OF SAN PEDRO

37.

To further support the prayer for PA, an affidavit emphasizing the necessity thereof is attached to the Application as Annex “Z”, and form an integral part thereof; PRAYER

38.

Applicants SAMELCOII and GNPower pray before the Commission that: i.

All information attached as Annexes “H-2” to “H-8”, “K” and “K-1” to the Application be treated as confidential; ii.

by Sangguniang Panglungsod intends to apply the sum of Php 2,618,163.27 being Ninety(ABC) - Eight Thousand under One Hundred Pesos the Approved Budget for Lot the 4: Contract to payments the contract for the (PhP98,100.00), VAT Exclusive, Zero - Rated hereunder project: Transaction;

NAME OF PROJECT

iii.

After due notice and hearing, the instant Application, the PSA, and the rate structure contained therein be duly approved; and

iv.

In the event that a Final Authority shall be issued after GNPOWER starts actual delivery of power to SAMELCOII under the terms of the subject PSA, said Final Authority be retroactively applied to the date of such actual delivery

The Commission has set the Application for initial hearing, expository presentation, pre-trial conference, and presentation of evidence on 24 August 2016 (Wednesday) at ten o’clock in the morning (10:00 A.M.) at SAMELCO II’s Main Office, Paranas, Samar.

All persons who have an interest in the subject matter of the proceeding may become a party by filing, at least five (5) days prior to the initial hearing and subject to the requirements in the ERC’s Rules of Practice and Procedure, a verified petition with the. Commission giving the docket number and title of the proceeding and stating: (1) the petitioner’s name and address; (2) the nature of petitioner’s interest in the subject matter of the proceeding, and the way and manner in which such interest is affected by the issues involved in the proceeding; and (3) a statement of the relief desired.

July 27, 2016 ; 3:00PM

Receipt and Opening of Bids

August 8, 2016 ; 11:00AM

Submission of Bids

August 8, 2016 ; 11:00AM

Interested Bidders may obtain further information from NLP Bids and Awards Committee (BAC) Secretariat. A complete set of Bidding Documents may be acquired by interested Bidders on July 19, 2016 from the address below from 8:00 AM to 5:00 PM, Monday to Friday and upon payment of a nonrefundable fee for the Bidding Documents, pursuant to the latest Guidelines issued by the GPPB, in the amount ofFive Thousand Pesos (P5,000.00).It may also be downloaded free of charge from the website of the Philippine Government Electronic Procurement System (PhilGEPS) and the website of the NLP, provided that Bidders shall pay the non-refundable fee for the Bidding Documents not later than the submission of bids.

Item No. 1

Source of Funds: Funded The City Government of Internally San Pedro, Laguna now invites contractors registered with and classified by the Philippine Contractors Accreditation Board (PCAB) to apply for Bidder should completed, (2) years before the dateCompletion of submission eligibility and ifhave found eligible, within to bid the for last the two above-mentioned projects. of andWorks receiptisofrequired bids, a contract similar the Project.

The description of anhave eligible bidder is the on or before thetocontract duration.Bidders should completed, contained in the Bidding Documents, particularly, in Section II. Instructions to Bidder.

Bidding two (2) calendar years from the date of submission and receipt of bids, a contract will be to conducted through competitive using a non-discretionary similar the Project.

Theopen description of anbidding eligibleprocedures bidder is contained in the Bidding “pass/fail” criterion as specified in the II. Implementing and Regulations (IRR) of Documents, particularly, in Section InstructionsRules to Bidders.

Bids received in Republic excess Act (RA) 9184, otherwise known as the “Government Procurement Reform Act”. of the Approved Budget for the Contract shall be automatically rejected at bid opening Bidding is restricted to Filipino citizens/sole proprietorships, partnerships, or organizations Bidding will be conducted through open competitive bidding procedures using nonwith at least sixty percent (60%) interest or outstanding capital stock belonging to citizens discretionary pass/fail criterion as specified in the Implementing Rules and Regulations of the Philippines, and to citizens or organizations of a country the laws or regulations of (IRR) of Republic Act 9184or(RA 9184), otherwise the “Government Procurement which grant similar rights privileges to Filipino known citizens,aspursuant to RA 5183 and subject Reform Act”. Bidding is restricted, unless otherwise stated, to Filipino citizens/sole to Commonwealth Act 138. proprietorships, partnerships, or organizations with at least seventy five percent (75%) interest or outstanding capital Conference, stock belonging to citizens of of the Philippines, and to All particulars relative to Pre-Bid Detailed Evaluation Bids, Post-Qualification citizens or oforganizations country by the or regulations of R.A. which grant and Award Contract shallof beagoverned thelaws pertinent provisions of 9184 and similar its IRR. rights or privileges to Filipino citizens, pursuant to Republic Act 5183 (RA 5183) and subject to Commonwealth Act 138 (CA 138).Only bids from eligible bidders will be The schedule of activities is listed, as follows: opened. In accordance with the IRR-A of R.A 9184, the contract/project shall only be awarded to the Lowest Calculated and Responsive Bidder whoSCHEDULE was determined as such ACTIVITIES during post-qualification.

1. Issuance of the Bidding Documents July 27 to August 16, 2016 Interested may obtain further information August from the City Government San 2. Pre-Bid bidders Conference 3, 2016(Wednesday), 2:00ofP.M. Pedro, Laguna and inspect the Bidding Documents at the address given below from 8:30AM to 9:30 AMSubmission only.

3. Deadline for the and Receipt of Bids August 16, 2016(Tuesday), 2:00 P.M.

August 16, 2016(Tuesday), 2:00 P.M. Office of 4. Opening and Preliminary Examination of BAC Bids Secretariat 4/F Conf.Rm. City Administrator’s Office onwards Pedro inCity Complete details of the project areSan indicated theHall bid documents which will be available

to prospective bidders at the Branch Procurement Section, Casino Filipino - Tagaytay upon

Prospective bidders mayAugust also download Pre-Bid Conference: 8, 2016 the Bidding Documents free of charge from the following websites: www.pagcor.ph and www.philgeps.gov.ph and may be allowed to Office of BAC Secretariat submit bids provided that bidders shall pay the non-refundable cost for the sale of bidding 4/F Conf.Rm. City Administrator’s Office documents not later San Pedro City Hall than the date of the submission of bids. The Pre-bid Conference is

WITNESS, the Honorable Chairman, JOSE VICENTE B. SALAZAR, and the Honorable Commissioners, ALFREDO J. NON, GLORIA VICTORIA C. YAP-TARUC, JOSEFINA PATRICIA A. MAGPALE-ASIRIT, and GERONIMO D. STA. ANA, Energy Regulatory Commission, this 18th day of May 2016 in Pasig City

All particulars to Eligibility and Screening, Bid Security, expenses incurredrelative in the preparation of theirStatement bids.

Performance Security, Pre-Bidding Conference, Evaluation of Bids, Post-Qualification and Awards of with Contract shall beProcurement governed byPolicy the pertinent provisions of R.A. 9184-and In accordance Government Board (GPPB) Circular 06-2005 Tieits Implementing and Regulations (IRR).

Breaking Method, Rules the Branch Bids and Awards Committee (BBAC), CF-Tagaytayshall use a

open to all prospective bidders. Prospective bidders should present to Finance Section, Third

(3 bids ) Floor, Casino Filipino – Tagaytay, Kmsecurity 60, Aguinaldo Tagaytay City either All must be accompanied by a bid in any Highway, of the acceptable forms andthe in Bidding Feestated Slip which may be secured from Section or abidders’ copy of the amount in ITB Clause 18. Bids willthe beBranch openedProcurement in the presence of the this ITB in effecting payment for the Bidding Documents.

All bids must be accompanied by representatives who choose to attend at the address above. Late bids shall not be a bid security in any of the acceptable forms and in the amount stated in ITB Clause 18. accepted. rd

PAGCOR assumes no responsibility whatsoever to compensate or indemnify bidder for any

non-discretionary and non-discriminatory measure based on sheer luck or chance, which is

The CityLOTS,” Government of San Lagunareserves the right to acceptand or determined reject any “DRAW in the event thatPedro, two or more bidder have been post-qualified bid, to bidder annul the bidding process, and to Responsive reject all bids any time prior to contract as the having the Lowest Calculated Bidat(LCRB) to determine the final award, withoutthe thereby liability toprocedures: the affected bidder or bidders. bidder having LCRB, incurring based on any the following For information, refershall to: pick one rolled paper.

1. further In alphabetical order,please the bidder 2.

The lucky bidder who would pick the paper with a “CONGRATULATIONS” remark shall Mr. Merlin B. Paala be declared as the final bidder having the LCRB and recommended for award of the Office of the BAC Secretariat contract.

San Pedro City Hall San Pedro, Lagunathe right to accept or reject any Bid, and to annul the bidding process and PAGCOR reserves reject allNo. Bids at any time prior to contract award, without thereby incurring any liability to the Telefax 808.2020 loc.320 affected bidder or bidder.

1.

2.

3.

2 3 4 5

Analysis and simulations is based on SAMELCO II’s forecasted 2016 hourly load profile.

GNPOWER rate is based on effective price.

GMCP rate is based on (i) Capacity Fee at resulting Capacity factor, (ii) November 14 coal and shipping prices (iii), January 1 – February 2, 2015 FOREX, (iv) PPD not included.

4.

Wesm Prices is based on 2011-2013 average Ex-post Price per Noted Point of SAMELCO II. Air Philippines Corporation vs. Pennswell Inc., G.R. No. 172835, December 13, 2007.

Ibid., 177 SCRA 374 (1989 Additional equivalent rate due to additional Prudential Guarantee required by PEMC (for the undelivered contracted capacity from GNPower) with a conservative loan interest of 6% per annum and baseload load factor of 81%.

(TS-JULY 27/AUG. 3, 2016)

CYAN MAGENTA YELLOW BLACK

1

ABC 300,000.00

2

PressReader Database

1

760,000.00

Public Library Suite Database

1

1,300,000.00

4

Oxford Journals (Humanities and Social Sciences) Databases

1

970,200.00

TOTAL

3,330,200.00

The NLP reserves the right to accept or reject any bid, to annul the bidding process, and to reject all bids at any time prior to contract award, without thereby incurring any liability to the affected Bidder or Bidders.

For further information, please refer to: FARRAH LYN S. GOCOYO BAC Secretariat National Library of the Philippines Tel. No.: 310-5035 loc.311 Email: bac@nlp.gov.ph (Sgd) LEONARDO P. BERNABE, JR. BAC, Chairperson

(TS-AUG. 3, 2016)

National Commission for Culture and the Arts

NATIONAL LIBRARY OF THE PHILIPPINES P.O. Box 2926 T. M. Kalaw Street, Ermita 1000 Manila, Philippines

Phone: (632) 310-5035 loc. 311 Email: bac@nlp.gov.ph

INVITATION TO BID ONLINE RESOURCES/DATABASES FOR iPeL Reference No. : 3949178 Sol. No. : tnl16-33

The Procuring Entity through its Bids and Awards Committee (BAC), invites bidders/supplies to apply for eligibility and to bid for the hereunder procurement: Name of Project Location Approved BudgetContract

: :

SIX LOTS OF ONLINE RESOURCES/DATABASES FOR iPeL 2016 Conference Room, Ground Floor, NLP Bldg.

:

Thirty Four Million Six Hundred Twenty Six Thousand FourHundred Ten Pesos 57/100 (Php 34,626,410.57) General Fund

Source of Fund : Contract Duration/ Delivery Period : Schedule of Activities :

15 days

Procurement Stage Issuance and Availability of Bidding Documents Pre Bid Conference Receipt and Opening of Bids Submission of Bids

Start Date July 19, 2016 – August 8, 2016 July 27, 2016 ; 2:00PM August 8, 2016 ; 10:00AM August 8, 2016 ; 10:00AM

Interested Bidders may obtain further information from NLP Bids and Awards Committee (BAC) Secretariat. A complete set of Bidding Documents may be acquired by interested Bidders on July 19, 2016 from the address below from 8:00 AM to 5:00 PM, Monday to Friday and upon payment of a nonrefundable fee for the Bidding Documents, pursuant to the latest Guidelines issued by the GPPB, in the amount ofTen Thousand Pesos (P10,000.00).It may also be downloaded free of charge from the website of the Philippine Government Electronic Procurement System (PhilGEPS) and the website of the NLP, provided that Bidders shall pay the non-refundable fee for the Bidding Documents not later than the submission of bids.

Lot No. 1 2 3 4

DESCRIPTION/S Emerald Management eJournals General OneFile InfoTract Engineering

QTY 1 1 1

Philippine eJournals Proquest Central (PQC) and ProQuest Dissertation and Theses (PQDT) SpringerLinkeJournal TOTAL

6

ABC 6,000,000.00 4,876,410.57 1,750,000.00

1

3,000,000.00

1

12,500,000.00

1

6,500,000.00 34,626,410.57

The NLP reserves the right to accept or reject any bid, to annul the bidding process, and to reject all bids at any time prior to contract award, without thereby incurring any liability to the affected Bidder or Bidders.

For further information, please refer to: FARRAH LYN S. GOCOYO BAC Secretariat National Library of the Philippines Tel. No.: 310-5035 loc.311 Email: bac@nlp.gov.ph (Sgd) LEONARDO P. BERNABE, JR. BAC, Chairperson

(TS-AUG. 3, 2016)

Php 2,618,163.27

All such persons who wish to have a copy of the Application may request from the Applicants that they be furnished with the same, prior to the date of the initial hearing. Applicants are hereby directed to furnish all those making such request with copies of the Application and its attachments, subject to the reimbursement of reasonable photocopying costs. Any such person may likewise examine the Application and other pertinent records filed with the Commission during the standard office hours.

Assumptions:

QTY

3

by the Sangguniang :CDC One Budget HundredApproved Eleven Thousand Forty - Five Pesos Panglungsod (PhP111,045.00), VAT Exclusive, Zero-Rated CONTRACT DURATION : 120 Calendar Days Transaction

Apayment complete of Bidding Documents may beofpurchased by interested Bidders the of set a non-refundable cost for the sale bidding documentsbased on the from following address matrix: above and upon payment of a non-refundable fee for the Bidding Documents in the amount of PESOS: 5,000.00.

Approved Budget for the Contract Cost for the Sale of Bidding Documents Bids must be delivered to the address below on or before August 19, 2016at 10:00AM: 500,000.00 and below PhP500.00 Office of BAC Secretariat PhP1,000.00 More than 500,000.00 up to 1 Million 4/F Conf.Rm. City Administrator’s Office More than 1 Million up to 5 Million PhP5,000.00 San Pedro City Hall

1

DESCRIPTION/S World Book Online Reference Center Database

: Proposed Restoration and Construction of Perimeter

All other persons who may want their views known to the Commission with respect to the subject matter of the proceeding may file their opposition to the Application or comment thereon at any stage of the proceeding before Applicants conclude the presentation of its evidence. No particular form of opposition or comment is required, but the document, letter or writing should contain the name and address of such person and a concise statement of the opposition or comment and the grounds relied upon.

ATTY. NATHAN J. MARASIGAN Chief of Staff ffice of the Chairman and CEO Office

Start Date

Lot 5 :Fence Four Hundred Fifty - Two Thousand One Hundred Seventy - Two Pesos (PhP452,172.00), VAT along Hernandez and San Luis St., Brgy. Landayan Exclusive, Zero - Rated Transaction; and

LOCATION : ABC : SOURCE OF FUND Lot :6

Pending hearing on the merits, a PA be issued authorizing the immediate implementation of the subject PSA including the rate structure therein, as applied;

15 days

Pre Bid Conference

Five Hundred Seventy - Two Thousand Two

Lot INVITATION 3 : Four Hundred TOTwenty BID - Two Thousand Three Hundred Thirty - One Pesos (PhP422,331.00), VAT Exclusive, - Rated Transaction; The City Government of San Pedro Laguna Zero through the 2016 CDC Budget Approved

Three Million Three Hundred Thirty Thousand Two Hundred Pesos (Php 3,330,200.00) General Fund

July 19, 2016 – August 8, 2016

5

Hundred Thirty - Five Pesos (PhP572,235.00), Republic of the Philippines VAT Exclusive, Zero-Rated Transaction; CITY OF SAN PEDRO Lot 2Province : Four Hundred Fourteen of Laguna Thousand Two Hundred - Five Pesos (PhP414,255.00), VAT Exclusive, BIDS ANDFifty AWARDS COMMITTEE Zero-Rated Transaction;

:

Procurement Stage

Province of Laguna BIDS AND AWARDS COMMITTEE Lot 1 :

ONLINE RESOURCES/DATABASES FOR NLP Conference Room, Ground Floor, NLP Bldg.

Issuance and Availability of Bidding Documents

The ABC for each of the six (6) lots are as follows:

The additional power from GNPOWER is needed to curtail any power interruptions that may be experienced by SAMELCO II’s member-consumers due to inadequate power supply in the region;

: :

Source of Fund : Contract Duration / Delivery Period : Schedule of Activities :

Bids must be delivered to the address below on or before August 19, 2016 at 10:00AM:

Lot 2 -

Phone: (632) 310-5035 loc. 311 Email: bac@nlp.gov.ph

INVITATION TO BID ONLINE RESOURCES/DATABASES FOR iPeL Reference No. : 3949578 Sol. No: tnl16-34

The City Government of San Pedro Laguna through the 2016 CDC Budget Approved

by Sangguniang Panglungsod intends to apply the sum of Php 2,482,408.76 being the Approved Budget for the Contract (ABC) to payments under the contract for the hereunder project:

Mr. Merlin B. Paala Lot 3Office of the BAC Secretariat San Pedro City Hall Lot 4 San Pedro, Laguna Telefax No. 808.2020 loc.320

C3

National Commission for Culture and the Arts

INVITATION TO BID

Brief Description

TODAY WEDNESDAY, AUGUST 3, 2016

NATIONAL LIBRARY OF THE PHILIPPINES

Republic of the Philippines CITY OF SAN PEDRO Province of Laguna BIDS AND AWARDS COMMITTEE

Lot 5 -

36.

Manila

Standard

CLASSIFIEDS

TODAY

PleaseENGR. addressFILEMON all communications to the Branch Bids and Awards Committee thru the BBAC (sgd.)

I. SIBULO Chairperson, Ms. Marie Yvonne C. Sevilla, Casino Filipino – Tagaytay, Km 60, Aguinaldo Chairman Highway, TagaytayCommittee City, Tel No. (046)413-1506 local 438.

Bids and Awards (TS-AUG. 3, 2016)

(SGD) MARIE YVONNE C. SEVILLA Chairperson Branch Bids and Awards Committee (BBAC) Casino Filipino - Tagaytay

Republic of the Philippines Department of Health – National Capital TO Regional Office SECOND INVITATION BID

SAN LORENZO RUIZ WOMEN’S HOSPITAL

O. Reyes St., Santulan, City through its Bids and Busuanga Island Electric Cooperative, Inc. Malabon (BISELCO), Tel. No. (02) 294-4853 294-4854•Website: www.slrwh.doh.gov.ph Award Committee is inviting all/ prospective Bidder to pre-qualify and to Bid for PhilHealth Accredited Facility the supply and delivery of the following materials and equipment: Lot No.

Item

1

Fuselink

Description INVITATIONQuantity TO BID

Units

ABC

PUBLIC BIDDING : Assorted Ratings 45,600 PROCUREMENT OF VARIOUS MEDICAL SUPPLIES (IB1,159,100.00 2016-014) 2 Transformers, 50 kVA 2 pieces FOR CY 2016 Pole Type,

37.5 kVA 2 pieces Phase, The SanSingle Lorenzo Ruiz Women’s Hospital, through the General Appropriations Act pieces Two Thousand Five of 2016Oil Immersed intends to apply25 thekVA sum Three 2Million Sixty Hundred Seventy Pesos Only . (Php 3,062,570.00) being the Approved Budget 15 kVA 2 pieces for the Contract (ABC) to payments under the contract for the Procurement of 10 2016-014). kVA 10 received pieces Various Medical Supplies (IB Bids in excess of the ABC shall be automatically rejected at bid opening.

TOTAL 1,204,700.00 2. The SLRWH now invites bids for the Procurement of Various Medical Supplies.

The Delivery criteria toofbe used by BAC in the eligibility of the prospective bidders shall the Goods is required within ten (10) days upon receipt of Notice be atonon-discretionary basis.

As such, non-submission of the anydate of the Proceed. Bidders“pass/fail” should have completed, within two years from of eligibility requirements will of result disqualification the prospective bidder. submission and receipt bids,ina the contract similar to theofProject.

The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II. The Instructions complete schedule of activities are as follows: to Bidders.

1.

3. No. Bidding will be conducted through open competitive bidding procedures Activities Schedule using a non-discretionary “pass/fail” criterion as specified in the Implementing Rules and (IRR)of ofBid Republic Act (RA) 9184, otherwiseAugust known 3, as2016 the “Government 1 Regulations Issuance Documents Procurement Reform Act”.

2 Submission and Opening of Bids August 17 , 2016 Bidding is restricted to Filipino citizens/sole proprietorships, partnerships, or with at least sixty percent (60%) interest August or outstanding capital stock 3 organizations Announcement of Winning Bidder 24, 2016 belonging to citizens of the Philippines, and to citizens or organizations of a country the laws or regulations of which grant similar rights or privileges to Filipino citizens, Complete set of bidding documents may be obtained at BISELCO BAC Secretariat e-mail address biselco79@yahoo.com pursuantthrough to RA 5183 and subject to Commonwealth Act 138. or mobile number

09178171176; upon payment of non-refundable fee of 5,000.00 pesos. Bids shall 4. submitted InterestedatBidders may obtainBusunga further information from Cooperative, the San Lorenzo be BAC Secretariat, Island Electric Inc., Ruiz Bgy. Women’s Hospital Bids and Awards Committee (BAC) Secretariat c/o Mr. 6, Coron, Palawan.

Allan G. Nieva, RRT ll or Ms. Juliet V. Chiquito at Telephone No. 293-9112 and inspect the Bidding Documents from 9:00 a.m. to 3:00 p.m., Mondays to Fridays

BISELCO BAC right12 to , reject from July 27,reserves 2016 to the August 2016. any or all bids, to annul the bidding process, declare a failure at any time prior to the contract award, or not to award 5. contract, A complete set of Bidding mayliability, be purchased by interested Bidders July the without therebyDocuments incurring any and makes no assurance that 27, 2016 from address below upon of a non-refundable fee for the a contract shall bethe entered into as aand result of payment the bidding.

Likewise, the BISELCO Documents in the amount of Threeto Thousand pesosorOnly (Php 3,000.00) BACBidding assumes no responsibility whatsoever compensate indemnify bidders for any expenses in thefree preparation the bid.

It may also beincurred downloaded of chargeof from the website of the Philippine Government Electronic Procurement System (PhilGEPS) and the website of the Noted Procuring Entity, provided that Bidders shall payby: the non refundable fee for the Bidding Documents not later than the submission of their bids.

(SGD) SELWIN Y. ALILI (SGD.) RUTH L. GALANG 6. The SLRWH will hold a Pre-Bid Conference on August General 2, 2016, Manager 10 am at the BAC Chairman/TSD Manager SLRWH Training Room, which shall be open only to all interested parties who have purchased the Bidding Documents.

(TS-AUG. 3, 2016)

7.

Bids must be delivered to the address below on or before August 15, 2016 ,1:00 PM. All Bids must be accompanied by a bid security in any of the acceptable forms and in the amount stated in ITB Clause.

ERRORS & OMISSIONS

Bid opening shall be on August 15, 2016, 1:15 pm at SLRWH Training Room.

Bids will be opened in the presence of the Bidders’ representatives who choose to attend at the address below. Late bids shall not be accepted.

In Classified Ads section must be 8. The San Lorenzo Ruiz Women’s Hospital reserves the right to accept or reject any brought to our attention very bid, to annul the bidding process, and to reject all bids at anythe time prior to contract award, without thereby incurring any liability to the affected bidder or bidders. day the advertisement is published.

9. For further information, please refer to: We will not be responsible for any ALLAN G. NIEVA JULIET V. CHIQUITO SLRWH-BAC Secretariat incorrect ads not reported to us SAN LORENZO RUIZ WOMEN’S HOSPITAL O. Reyes St., Santulan, Malabon City immediately.

Website: www.slrwh.doh.gov.ph Email Address: slrwh.procurement@yahoo.com.ph Telefax No.2939112

RESERVE YOUR AD SPACE NOW! email us at advertise@the standard.com.ph or call us at 832-5547 (TS-JULY 27, 2016)

(TS-JULY 27, 2016)

SIGNED NOEL D. VALDERRAMA, MD SLRWH-BAC Chairperson

CYAN MAGENTA YELLOW BLACK

C4

World

WEDNESDAY, AUGUST 3, 2016

FULL-DRESS. In this picture taken on July 26, ethnic Tibetan models wear traditional costumes and fine jewelry during a fashion show at a local government sponsored festival in Yushu, in the northwestern Chinese province of Qinghai. The festival held since the 1990s lasts for around five days. It was suspended for several years following a 2010 earthquake in Yushu which killed some 2,700 people. AFP

Vets, GOPs slam Trump clash with hero’s family W

ASHINGTON—Veterans groups and Republicans on Monday savaged Donald Trump’s war of words with the parents of a slain Muslim American soldier, the latest example of the presidential nominee making statements considered beyond the pale.

The feud has shaken the US presidential campaign and become a flash point 99 days before the November election that pits Republican Trump against Democrat Hillary Clinton.

Criticism has poured in from outraged veterans groups, relatives of soldiers killed in action and even President Barack Obama.

The episode has dominated US headlines since last Thursday, when Pakistani immigrant Khizr Khan galvanized the Democratic National Convention with a tribute to his dead son in which he rebuked the Republican nominee for having “sacrificed nothing” for

the country.

In an interview aired on ABC Sunday, Trump insisted he had made “a lot of sacrifices” while suggesting that Khan’s wife, who stood silent on the convention stage as her husband spoke, had not been allowed to talk.

On Monday, Trump renewed his assault, tweeting: “Mr. Khan, who does not know me, viciously attacked me from the stage of the DNC and is now all over TV doing the same—Nice!”

The families of 23 other slain US soldiers berated Trump for remarks they called “repugnant and personally offensive.”

“We feel we must speak out and demand you apologize to the Khans, to all Gold Star families, and to all Americans for your offensive, and frankly antiAmerican, comments,” they said in an open letter.

Army captain Humayun Khan was killed by a suicide bomber in Iraq in 2004.

Veterans of Foreign Wars, the largest US war veterans group, heaped scorn on Trump’s “out of bounds” criticism of a fallen soldier’s mother.

“Election year or not, the VFW will not tolerate anyone berating a Gold Star family member for exercising his or her right of speech or expression,” VFW leader Brian Duffy said.

Trump’s running mate Mike Pence attempted to walk back his ticket’s rhetoric Monday, telling an angry Air Force mother whose son is serving in the military that “Captain Khan is an American hero.”

“We honor him and honor his family as

we do all Gold Star families,” Pence told the woman in Carson City, Nevada, after she asked the vice presidential nominee how he could tolerate Trump’s “disrespect.”

Few high-profile Republicans have backed Trump in his battle with the Khans.

The mogul’s sustained hostility toward the couple—alarming partly because criticism of Gold Star families has traditionally been off-limits in American political discourse—incensed Senator John McCain, a former prisoner of war once mocked by Trump for being captured in Vietnam.

“I cannot emphasize enough how deeply I disagree with Mr Trump’s statement,” McCain said in a lengthy and scathing statement.

“While our party has bestowed upon him the nomination, it is not accompanied by unfettered license to defame those who are the best among us,” he added. AFP

Palestinian designer for glitterati pops up in W. Bank RAMALLAH, Palestinian— Rami Kashou’s designs are worn

by Hollywood stars and royalty but for the past few days he has been back home in the occupied West Bank rather than London, Paris or New York.

As on most days, Yasser Arafat Square in central Ramallah was crowded with pedestrians, taxis with screaming horns and fruit sellers lugging their goods on carts.

But tucked behind a nondescript

door another world beckoned: one of burgundy walls and floorlength mirrors, as Kashou hosted a three-day pop-up fashion shop.

A handful of women of all ages browsed the elegant designs, occasionally trying on clothes under the watchful eyes of Kashou, who rushed to dispense fashion advice when needed.

The US-based fashion designer has a list of celebrity clients including Hollywood actress Jessica Alba, reality TV star Kim Kardashian and

Queen Rania of Jordan.

But Kashou, who is 40 and was born in Jerusalem, has now made copies for Palestinian women of his creations that they would otherwise only see in magazines.

He left for the United States in 1996 and now lives in New York.

“I was away for a long time,” the bearded, shaven-headed Kashou, dressed in black, told AFP in the store.

“I usually come to visit my family, (but) this is the first time I

brought my designs here.”

Kashou shot to fame in 2008 when he appeared on the fourth season of the “Project Runway” reality television.

He reached the finals, coming second to Christian Siriano, who designed the dress worn by US First Lady Michelle Obama as she addressed the Democratic National Convention last week.

Kashou said the show opened doors for him in America and elsewhere.

“I benefited a lot. It was a big advert, especially for me as a Palestinian designer,” he said. “And the Arab world became aware of me.”

He is now developing his brand in Arab countries.

In Ramallah, the Palestinian political capital in the Israeli-occupied West Bank, he showed off his unique style of dresses, including one resembling a bouquet of flowers with a pink and red collar, which he said was inspired by a trip to Puerto Rico. AFP

Australian Pokemon Go site removed

FELINE. Lil BUB attends the Premiere Of EuropaCorp’s “Nine Lives” at TCL Chinese Theatre on Monday in Hollywood, California. AFP

SYDNEY—A small Sydney suburban park that attracted thousands of Pokemon Go players, causing the grassy spot to turn to mud, has disappeared from the popular mobile game after complaints of chaos.

The backlash in the Sydney suburb of Rhodes is the latest battle between avid players of the augmentedreality game, which has been a huge hit since it was rolled out last month, and authorities unhappy with the crowds it can attract.

“Weekends, particularly at night, there were up to a 1,000-1,500 people in the park,” City of Canada Bay Council’s deputy mayor Helen McCaffrey told Agence France Presse.

“The grass is no longer there and residents after three-and-a-half weeks were just over it,” she said of Peg Paterson Park, which has a playground and is sur-

rounded by tall apartment buildings.

“When a rare Pokemon was caught, there would be a cheer and cars would honk as the traffic was becoming horrific. I spoke to somebody a couple of days ago who was coming in from Penrith (45 kilometers or 28 miles away) to play.”

The council encouraged residents to complain directly to the game’s developer, US-based software company Niantic, to ask for the park to be deleted from the game after they complained of “complete chaos” and rubbish being dumped.

“All 3 pokestops removed. Not a single soul left in the park. NOT ONE,” wrote a Facebook user late Monday, while another added: “For the people still convinced that Rhodes is still the hot spot.... Let it go, mourn the loss.... It’s dead!

GONE!”

The game—which has the tagline “catch ‘em all”—allows players to chase virtual cartoon character monsters with their mobile phones, with the Peg Paterson Park particularly popular due to the regular appearance of rare Pokemon.

While Pokemon Go has been praised as a fun way to get people outdoors, it has also attracted safety warnings about not walking into oncoming traffic, straying into restricted areas, or becoming victims of crimes.

The app by Niantic, a spinoff of Google, has now been launched in more than 40 countries including the US, Japan and much of Europe. It has been downloaded more than 75 million times.

Pokemon Go has also raised the potential of such technology for other applications, and the real-world impact they could have.

AFP

Syrian rebels kill 28, down Russian chopper BEIRUT—Shells fired by Syrian rebel groups killed at least 28 civilians in southwestern districts of the battleground city of Aleppo over the last 24 hours, a monitor said late Monday.

Rami Abdel Rahman, head of the Syrian Observatory for Human Rights, said those killed “included six children and eight women” in two governmentcontrolled neighbourhoods of divided Aleppo.

He said dozens of people were also wounded.

Relatedly, Russian military helicopter was shot down over Syria on Monday, killing all five people on board in the single deadliest incident for Moscow since it intervened in the war.

US Secretary of State John Kerry on Monday urged Russia to “restrain” itself and the government in Syria as fierce fighting there continues on the day he had hoped political transition could start.

“It is critical, obviously, that Russia restrain both itself and the Assad regime from conducting offensive operations, just as it is our responsibility to get the opposition to refrain from engaging in those operations,” he told journalists.

Kerry said the government’s attacks had prevented the warring parties from meeting for negotiations on Monday, the target date set for the regime and opposition forces to agree on the framework of a political transition.

The city’s southern edges have been ravaged by intense fighting in recent days as rebels seek to ease a government siege and cut off the regime’s own access route into the rest of the northern province.

Syrian state news agency SANA said that since Sunday, 20 civilians were killed and dozens wounded in shelling, rocket fire and sniper attacks on government-held neighbourhoods.

It said nine people—among them three children—were killed on Monday and 11 people died in the attacks on Sunday. AFP

Instagram cracks down on harassment SAN FRANCISCO—Instagram on Monday said it is adding a new weapon for fighting harassment at the popular mobile app for sharing pictures and videos.

The Facebook-owned social network began letting some celebrities and others with accounts that attract torrents of feedback filter those comments by keywords or even turn off the option to comment on particular posts.

“Our goal is to make Instagram a friendly, fun and, most importantly, safe place for self-expression,” an Instagram spokesman said in an email reply to an Agence France Presse inquiry.

“As we learn, we look forward to improving the comment experience for our broader community.”

If the test goes well, the antiharassment feature could begin to spread across Instagram in coming weeks.

The visually oriented service already allows users to delete comments or use a filter designed to block profanity.

Letting users decide which comments to block from their accounts helps take Instagram out of the crosshairs amid complaints about censorship or not doing enough to thwart online harassment.

Instagram in June said that its user base has surged to half a billion, adding its latest 100 million in less than a year. More than 80 percent of Instagram users are outside the United States.

Instagram, which was acquired by Facebook in 2012, is now seen as a growth engine for Facebook, which has some 1.6 billion users around the world. AFP

Life FASHION & BEAUTY

Isah V. Red, Editor Bernadette Lunas, Writer isahred@gmail.com

WEDNESDAY, AUGUST 3, 2016

Watches under the Maverick Collection blend together TW Steel’s bold attitude and cool vintage styling

SON OF TIME. TW Steel co-owner and chief executive officer Jordy Cobelens officially launches the Maverick Collection in the Philippines

TW Steel’s new Maverick Collection T

W Steel shakes up father time in 2016, launching the adventurous Maverick Collection. Inspired by the groundbreaking Son of Time masterpiece, the Maverick Collection takes TW Steel’s bold attitude, blends in cool vintage styling and twists it all together to deliver a totally fresh take on time.

The hugely successful Son of Time project brought together TW Steel Chief Designer Ton Cobelens with Amsterdam-based custom motorcycle builder Roderick Seibert. The collaboration exploded with creativity, delivering a unique one-off custom motorcycle and matching unique timepiece, The Son of Time. The project created so much noise it was clear the market was ready for a full TW Steel collection to mix their bold attitude and big styling with a new take on the Sport Heritage world.

The Maverick Collection features a total of 42 different executions with each model offered in both 45mm and 48mm size. Each Maverick timepiece design comes in three versions. The first, a super-clean three-hand, comes with a Miyota 2417 movement and brushed case and bezel; the second, a chrono, is powered by a big caliber 6S21 movement and stands out with two chrono eyes and shiny case and bezel. Except for the PVD black coated executions, which come with a matte

sandblasted finish. The third design, an equally impressive automatic, shares the same shiny case and bezel and houses a Seiko NH35 movement with an exclusive Geneva pattern rotor. The PVD black-coated executions again come with a matte sandblasted finish.

The stunning collection is set off by a choice of either a premium quality, exclusive vintage inspired leather strap with bold stitching detail, or equally impressive steel Milanese bracelet for which no tools are needed to shorten the bracelet. All leather strap models feature the popular and practical Capsa/ Quick Change Construction. The icing on the sport heritage cake for the Maverick Collection comes in the form of double-layered sandwich dials on all leather strap models, bringing the digits and indexes into sharp focus and giving head turning depth and feel to the brand new collection.

“Just over 10 years ago, we began our company by launching an iconic timepiece collection that shook up the market and established us as a bold new

attitude in the watchmaking world,” states Jordy Cobelens, CEO and coowner of TW Steel. “Now 10 years on, it’s only appropriate that we shake the market up again with the launch of a new design icon.”

TW Steel Chief Design Officer and co-owner, Ton Cobelens adds, ”Of course our new designs still carry our trademark attitude and boldness, but take a new direction, perfectly blending our TW Steel style with vintage appeal from the Sport Heritage world. We really enjoyed working with Roderick to bring the Son of Time to life, smashing two worlds together!

There we found inspiration to make our Maverick Collection a reality, bringing TW Steel’s unique style and emotion to a new audience.”

Prices start from P19,000.00 and P32,000.00 for the MB (Maverick Bracelet) models and go up toP35,000.00 for the PVD black coated MS46 with automatic movement.

TW Steel is a private, family-owned company founded in Amsterdam in 2005

by Jordy and Ton Cobelens. Available in over 100 countries worldwide, TW Steel is an “Official Sponsor” of Movistar Yamaha MotoGP™ and features brand ambassadors including MotoGP™ and F1™ World Champions Mick Doohan and Emerson Fittipaldi as well as David Coulthard.

A watch beyond the challenges of the deep blue FROM the first diver’s watch released zone at sea is vital so that the comin 1965, Seiko has been exceeding munication with the team back home diver’s expectation with its innovative can be properly synchronized, even technologies that are now widely ac- in the waters near the poles, where cepted global standard to any a diver’s time zones change more quickly watch available today. That includes than at the equator. the “accordion” or corrugated style Seiko’s GPS Solar Dual-Time strap which comtechnology probines strength and vides this critical flexibility needed feature needed by while taking a any sailor navidive in the deep gating the seas. blue, the wide arAnd with just one row-shaped hands touch of a button, for extra legthe watch adjusts ibility even in the to the exact local depths that are not time anywhere on reached by light, Earth. The Dualand the world’s Time function, first two-layer on the other hand, case construction allows an ocean for added security sailor the time at and enhanced retheir home port. sistance to shock.

And because it is These innovapowered by Seiko tive features took Solar technology, Seiko at the forethe self-charging front of developbattery takes ening sports watches Seiko Prospex Sea Collection ergy from light with truly profesand it does not need sional specifications. A true pioneer to be replaced. that has set the global standards by Its exterior design also incorporates incorporating some innovative fea- the different time zones on its bezel tures in timekeeping, Seiko brought ring with the acronyms of major cities together all of its sports watch exper- also etched beside it. tise, may it be on land, sky, or sea, in The classic Seiko diver’s watch had one collection that is Prospex. come a long way through its evolution With the Seiko Prospex Sea Collec- to what it is now. Adding up to the timetion, the brand not only looks at the line of this tradition of excellence in needs of dive masters, to which they watch-making are the line-up of timehave proven time and time again the pieces in Seiko Prospex Sea— now takreliability they give from every div- ing up more than just the challenges in er’s watch that came out, but also to the depths, but also the vastness of the the marine masters who race across unexplored horizons of the deep blue. the seas in the yachts, trying to circumnavigate the globe.

The Seiko Prospex line of watches For professional yacht racers, is available at leading watch knowing the exact time and time salons nationwide.

A decade of fashion retailing

ANTHEM Group, long time purveyors of Original Penguin, Thomas Sabo and Perry Ellis celebrated its 10th year anniversary as a company on May 24. It has been in the business since 2006 and has continued to grow under the supervision of Managing Directors Ericson and Cheryl Lee. The company’s first retail door was the Anthem specialty store that carried some of its current house brands including Original Penguin—which celebrated its 60th anniversary in October 2015—and later opened its first stand-alone boutique at Power Plant Mall. This well-known American brand from the United States became a smash hit with Filipinos for its preppy classic: The Earl Polo. Today, Original Penguin has more than 24 retail stores in the Philippines, with An-

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them Group being the sole exclusive distributor in Asia.

From a small room of five to currently around 500 employees, Anthem Group has expanded into acquiring other apparel and non-apparel brands. Thomas Sabo, a jewelry brand in Germany, was the next acqusition of Cheryl Lee as she fell in love with the unique collections of its charms in 2011. Perry Ellis was next for the young professional market with its vast array of dress shirts and casual polos. It also adds American shoe brand, Soludos with fashionable espadrilles that are in season all year long.

For 2016, Anthem Group sees itself venturing into its first ever food store. Inspired by the ‘to-go’ food lifestyle of other countries, Eat City is the first of its kind to offer this ‘grab and go’ concept as it takes chef-made-con-

venient-food to a whole new level. Eat City is now open at Madison Square Building in North Greenhills.

What’s next for the Anthem Group? The company is currently working on tapping the Visayas and Mindanao market, bringing its brands closer to home for others. “The demand we get to have our brands at other retail channels and outlets is very high especially in the key provincial areas,” according to Cheryl. “The business is never easy, it always has its ups and lows but our company relies on a good team to keep the ball rolling regardless of the retail climate. And we are very proud of that” as per Eric.

The managing directors also hinted that something bigger is in store in 2017, including its new partnership with its American counterpart Original

Perry Ellis, as well as Original Penguin and Thomas Sabo are brands that Anthem Group brought to the Philippines

Penguin stores, as they serve kids only merchandise and launch Original Penguin Kids. Customers can also expect the revival of a popular men’s apparel brand from the UK next year.

Cheryl emphasizes, “We’re constantly looking for brands that Filipinos will discover to love and suit their everyday needs – whether it be through fashion, food and other aspects. We’ve

always loved fashion, it has been our pledge—or an anthem if you will—that has fueled what our company stands for. After 10 years in the business, we are proud to see the company evolve into something else we’ve never imagined.” Anthem Group will continue to keep shoppers at its toes as they continue to deliver the next ‘in’ thing for years to come.

Life

D2

WEDNESDAY, AUGUST 3, 2016 isahred@gmail.com

A celebration of

Filipino

artistry F

Chito Vijandre headlines 8th Red Charity Gala

OR the eighth edition of Red Charity Gala, the country’s biggest fashion gala for a cause, the spotlight will be turned on to Manila’s master couturier and interior designer Chito Vijandre.

Master couturier and interior designer Chito Vijandre

Vijandre, who for decades has blazed the trails in the not-so-disparate realm of fashion and interior design, officially joins Red Charity’s league of worldrenowned Filipino designers such as Dennis Lustico, Furne One, Michael Cinco, Cary Santiago, Ezra Santos, Jojie Lloren and Lesley Mobo.

From an early age, Vijandre had already exhibited nascent artistic abilities—always going against the grain, gaining school recognition and awards in art competitions here and abroad, including participation in the Mexico Olympics where he represented the Philippines in its prestigious art forum.

He then parlayed his talents into the glamorous world of fashion, enrolling in the ‘70s at the Slim’s Fashion and

Vijandre will be presenting a 40-piece Filipiniana Haute Couture collection reimagined and reconfigured through the prism of Philippine History and Art at the upcoming Red Charity Gala 2016

Art School. His original and refined designs easily gained him recognition and acclaim from Manila’s fashionable set, where he dressed the most stylish and elegant women, including the likes of La Divina Chona Recto Casten and Tingting Cojuangco. At 20, at a time when lunchtime fashion shows were all the rage, he already mounted his first one-man show at the famed La Concha at the Hyatt.

One of his collections that took the local fashion scene by storm—which up to this day draws accolades from those

who remember—were his fully beaded flapper gowns, painstakingly made from glass beads from a Masai necklace.

In an almost natural progression, Vijandre then channeled his creative energies to interior design—designing homes, boutiques and restaurants. Together with his partner Ricky Toledo, he founded the landmark concept store Firma—purveyor of home accents, jewelry and objet d’art—and later, AC+632 whose store is located at Greenbelt 5.

Now, Vijandre is set to present another marvelous collection that

Kenneth Cole as UNAIDS

International Goodwill Ambassador UNAIDS has appointed amfAR Chair and leading fashion designer Kenneth Cole as International Goodwill Ambassador.

The announcement was made at a special event held on the eve of the United Nations General Assembly High-Level Meeting on Ending AIDS that took place in New York in June.

“We are entering a crucial phase of the response to HIV and I know that Kenneth can make a significant and powerful contribution towards our shared vision of ending the AIDS epidemic by 2030,” said Michel Sidibé, UNAIDS executive director. “His commitment, compassion and resolve will magnify our efforts to include

everyone in the progress towards an AIDS-free generation.

In his new role as an Ambassador for UNAIDS, Cole will work to rally the global community by continuing his longstanding role as an advocate for an inclusive response to the AIDS epidemic.

He will help with the communication of clear benchmarks and goals in the AIDS response, including amfAR’s mission of finding a cure for HIV by 2020, in order to realize UNAIDS’ vision of ending AIDS as a public health threat by 2030.

“I am confident that if people are put at the center of the AIDS response, we can realize one of this century’s greatest humanitarian achievements—the end

Fashion designer Kenneth Cole (left) and UNAIDS Executive Director Michel Sidibe

of the AIDS epidemic,” said Cole, “I am honored by this appointment as a UNAIDS International Goodwill Ambassador.

It is my hope to help intensify

Cole (third from left) is announced as the UNAIDS International Goodwill Ambassador at the United Nations General Assembly High-Level Meeting on ending AIDS

efforts to end the epidemic for everyone, everywhere.”

Cole has been a leading voice in the global response to AIDS for more than 30 years and continues to be a passionate champion for people living with HIV. As well as managing his business interests, he has been chairman of amfAR, the Foundation for AIDS Research, since 2005. He was instrumental in the launch of amfAR’s Countdown to a Cure campaign, which supports amfAR’s recently opened Institute for HIV Research based at the UCSF. The mission of the Institute is to accelerate progress towards developing a cure for HIV. In the Philippines, Kenneth Cole New York is located at C1 Bonifacio High Street Central, Power Plant Mall, Rustan’s Makati and Shangri-La Plaza Mall.

Visit facebook.com/KennethCole or follow @ssilifeph on Instagram for more information.

25th year with fantasy shopping spree

Shangri-la Plaza celebrates its 25th anniversary with an exciting raffle promo

WHAT would make shopping at Shangri-La Plaza even better? The metro’s top lifestyle destination has got the very thing to take retail therapy to the next level as it celebrates its 25th anniversary with the exciting Shang Shopping Fantasy raffle promo.

Shang fulfills all your shopping fantasies as it gives a lucky winner half a million shopping as two winners, one each for the second and third prizes will indulge in P40,000.00 and P30,000.00 shopping sprees respectively, while 10 winners will bag a P20,000.00 shopping spree each. A total of 13 lucky winners are all set to win big.

Get your shot at this amazing promo with every P1500.00

single official receipt purchase from any store at Shangri-La Plaza until Oct. 31. Shop from Monday to Thursday and double your chances of winning.

From its impressive line of brands, cutting-edge architecture, spacious interiors, relaxing ambiance, choice events, and its new mind-blowing shopping fantasy raffle promo, Shangri-La Plaza is the metro’s retail mecca.

Grab your shopping bags and get ready to shop until you drop by joining the Shang Shopping Fantasy promo.

For inquiries, call 370-2597/98 or visit www.facebook.com/ shangrilaplazaofficialfanpage.

Follow the Shang on Instagram: @shangrilaplazaofficial.

celebrates Filipino artistry. For this year’s highly anticipated gala event, he will be presenting a 40-piece Filipiniana Haute Couture collection reimagined and reconfigured through the prism of Philippine History and Art. Happening on Oct. 8, 7 p.m., at Shangri-La Hotel The Fort, the Red Charity Gala 2016 is expected to be a representation of Vijandre’s panache, vivaciousness and his singular and unparalleled aesthetic and artistic vision, all for a worthy cause.

BEAUTY CORNER

Dense tresses THERE is something sexy about healthy, voluminous hair that moves along with one’s body. To help individuals who want to achieve denser and stronger crowning glory, hair and scalp care expert Kérastase Paris incorporates Complex Glycans into its Densifique formula.

Complex Glycans are elements that when at its maximum quantity in the hair’s dermal papilla increases the hair fiber’s diameter to make hair thicker and more amplified. The new ingredient joins Stemoxydine as key players in the improved Densifique formula—a combination of stem cell science and follicle biology.

To achieve that enviable hair volume, Kérastase offers a 30-day Densifique Cure program that costs P8,600 for 30 6ml Kérastase Densifique vials.

Visit www.kerastase.com or like Kérastase Philippines on Facebook to know more

Magic on your lips TEEN Queen Kathryn Bernardo and leading direct selling company Avon make applying lipstick more fun and magical with the new Kathryn Bernardo Special Edition Magic Lipsticks.

The Kathryn-approved collection is composed of four color-changing shades that magically transform when applied to lips. Chameleon Cherry has a brown bullet that turns to red; the intriguing Green Apple is a green lipstick that turns to rose; Berry Rose is a purple-colored lipstick that turns to vibrant berry rose shade; and Snow Pink is white bullet that magically turns to fuschia pink when it touches the lips.

Each Avon Simply Pretty Kathryn Bernardo Special Edition Magic Lipstick is priced at P135. Visit www.avon. ph to find out how to get in touch with an Avon representative.

Miracle water AMERICAN beauty brand Maybelline harnesses the power of today’s hottest makeup remover, micellar water, in its very own cleanser that gets rid of makeup, oil, dirt and other impurities.

The Micellar Water 4-in-1 is a water-based formula that gently removes light makeup, including bases like foundation and BB cream, while it tones and moisturizes skin. It’s fragrance-free, oilfree and alcohol-free, making it a suitable cleanser for all skin types.

Micellar Water 4-in-1 comes in 200 ml bottle and is now available at Maybelline beauty counters nationwide.

Showbiz

D3

WEDNESDAY, AUGUST 3, 2016 isahred@gmail.com

T

HIS question hasn’t been answered yet, but what’s definite though is that the next edition of the prestigious beauty pageant will be held in the country on Jan. 30, 2017.

In an official announcement, Tourism Secretary Wanda Teo on Thursday confirmed that the Philippines will host Miss Universe for the third time and it will be funded by the private sector.

Among the sponsors are Henry Sy and Japanese casino mogul Kazuo Okada.

We know Henry Sy as the richest Filipino being the patriarch of SM Prime Holdings. But, who is Kazuo Okada and what will he get out of this partnership with Miss Universe Organization?

The Japanese billionaire is the chairman of Universal Entertainment Corportation, which operates Tiger Resort Leisure and Entertainment Inc., the trade name of Okada Manila formerly known as Manila Bay Resorts.

The $2.4 billion integrated resort and gaming complex that sits on a 44-hectare land, is located three kilometers away from the Ninoy Aquino International Airport (NAIA) and is at the foreshore of Manila Bay. It will be the third complex of its kind to open in Entertainment City.

Scheduled to have a soft opening in December, the complex will feature a 993-room hotel and a two-hectare fountain that will be one of the world’s largest. Apart from those, it will have 21 self-operated restaurants, an 8,409 square meters of premium retail promenade

An artist rendition of the Okada Manila resort complex in Entertainment City which is set to have its soft opening before the year ends, (inset) DC’s ‘Legends of Tomorrow’ is a spin-off from equally successful TV series ‘Arrow’ and ‘The Flash,’ and further expands the “Arrowverse”

Will Okada Manila be

Miss Universe 2016 official residence? featuring local and international brands, 500 table games and approximately 3,000 Electronic Game Machines, and a beach club enclosed in a glass dome housing a white sand beach that can accommodate 4,500 people.

These impressive amenities will instantly get the world’s attention once it

plays host to Miss Universe contestants in January. Making it adhere to its timetable to recoup its investment in just 18 months.

HOOQ Hangouts debuts Over the weekend, DC’s Legends of Tomorrow, a spin-off from equally successful TV series Arrow and The Flash, and which further expands the Arrowverse, was

Jazz themed nights at Sage Bar MAKATI Shangri-La Manila redefines music experience for jazz aficionados and music enthusiasts with its Jazz and Themed Nights hosted by Sage Bar. As lively music permeates every corner to set the atmosphere of casual elegance, the bar’s modern interiors offers an intimate touch so friends and business colleagues can chat and unwind after a long busy day.

As a trendsetter in partnering with the best of the best, Makati Shangri-La Manila’s Sage Bar is hosting regular shows by talented international and local acts.

Headlining the Jazz nights, Monday to Friday, is international performer Henry Katindig who is known in the Asian jazz

circuit as a piano genius famed for playing straight-ahead bop or silky smooth jazz-fusion. The jazz maestro’s refreshing style and rhythmic sophistication clearly point out why he has become one of the few anointed keepers of the jazz torch in the Philippines and Asia.

Joining Katindig and his Trio onstage for each day of the week are stellar and multiawarded singer-performers.

They include jazz singer Jeannie Tiongco known for her stylistic mainstream and fusion jazz renditions, the multi-talented Maffy Soler, 2013 Aliw Awardee Angela Vera, and Philippine Idol 2007 finalist Maya Banawa.

On Saturdays, Sage Bar patrons can listen to the music

Former reality talent search finalist Maya Banawa (left), jazz artist Maffy Soler (right)

of accomplished singer Judith Banal. She shares the stage with Poppin Jazz, who has been active in the local music circuit since the ‘90s and brought with her session musicians such as Emcy Corteza, Gary V’s keyboardist Ding Faustino and drummer Tek Faustino.

The Jazz Themed Nights offers a full jazz musical experience, offering

guests a chance to hear the performers do jazzy renditions on a carefully curated list of modern pop songs and lounge classics.

For table reservations and details, please call (63 2) 813 8888 or email sage.slm@shangri-la.com.

Follow Makati ShangriLa on facebook.com/ MakatiShangriLa and @MakatiShangriLa on Instagram and Twitter.

Orchestra performs score of ‘Ignacio De Loyola’ ABS-CBN Philharmonic Orchestra, together with the Ateneo Chamber Singers, earned a well-deserved standing ovation at The Theatre at Solaire in Pasay for their live performance of the musical score of Ignacio de Loyola, the first ever Filipino-produced movie filmed in Rome.

Ryan Cayabyab composed the score and performed under the baton of Gerard Salonga.

The performance left the audience in awe as it magnified the emotions in every scene. The audience surely remembered the epic battle in Spain where Ignacio was horribly hit by a cannonball, the romantic dance of Catalina and Ignacio at the

palace, Ignacio’s spiritual transformation in the cave, and when truth prevailed and made Ignacio victorious in his trial against the church.

The premiere of Ignacio de Loyola was organized by the alumni of Ateneo de Manila University for the benefit of the Jesuit Infirmary and Jesuit Scholastics in the Philippines.

The film takes a modern approach on the story of the very first Jesuit who is known as the “Saint of Second Chances.”

It narrates the story of a sinner who realizes that the greatest battles are fought within — the choice between violence and mercy, anger and forgiveness, hope and

despair, darkness and light. Ignacio was a worldly soldier who gave up his dreams of knighthood after being crippled in battle.

Eventually, he found the Jesuit order during his recovery.

The Cinema Evaluation Board Ignacio de Loyola gave the film a grade A. It is an ambitious project produced by Filipino filmmakers with a European cast and crew.

The scope of the film meant shoot ing the biopic almost entirely in Spain, Ignacio’s native country, for about two months. It stars a Spanish-speaking cast led by Andreas Muñoz, who portrayed the “sinner soldier-turnedSoldier of Christ.”

CROSSWORD PUZZLE Wednesday, August 3, 2016

ACROSS 1 Value 6 Primitive craft 10 Dallas hoopsters 14 Socrates’ hangout 15 They often clash 16 “— — Around” 17 View from Everest 18 Entice 19 Irene of “Fame” 20 Like fish and chips (hyph.)

22 Object 23 Pirate’s booty 24 Pagodas and lamaseries 26 Wedding rental 29 Stiff and sore 31 31-day mo.

32 That yacht 33 Hairy humanoid 34 Footer’s cousin 38 Groan causers 40 Embroider 42 Wine’s bouquet 43 Molded 46 Bard’s tragic king 49 Mr. Quayle 50 Bottle cap 51 Cartoon chipmunk 52 Belly dance instrument 53 Calgary’s

Amphitheater into a free outdoor cinema venue with massive LED screen, beanbags, blankets and cushions to fully enjoy the show.

“HOOQ Hangouts aims to build a stronger community by bringing them together so they can watch the best movies and hottest TV releases. This is the first of its kind for any video-on-demand service in the country,” says Jane Cruz-Walker, country manager of HOOQ Philippines adding that HOOQ Hangouts is going to be a monthly thereafter.

For Globe Senior Advisor for Consumer Business Dan Horan, events like HOOQ Hangouts achieve Globe LIVE’s commitment to produce quality on-ground events.

“Together with HOOQ, we are able to give everyone access to an extensive library of the best TV and movie titles making the Filipino digital lifestyle experience more wonderful,” he said.

Participants of HOOQ Hangouts can also enjoy on-ground entertainment, munch on free popcorn and check out on-ground activities and win raffle prizes.

province 57 Legionnaire’s cap 59 Fess Parker played him 60 Night’s end (2 wds.)

65 Exiled Roman poet 66 Coconut exporter 67 Cliffside refuge 68 Ricky Ricardo 69 Turkey neighbor 70 Comes ashore 71 Checked out 72 Freighter hazard 73 Winter forecast DOWN 1 Conductor’s baton 2 Pointed arch 3 Snag a dogie 4 Pitfalls 5 In-between 6 Fixes the pilot 7 The chills 8 River crossings 9 Mao — -tung 10 One of H.O.M.E.S. 11 A second time 12 Jules of sci-fi 13 Male deer 21 Hotfoot it 22 Bona fide

25 26 27 28

Nasty laugh Recipe amts.

Nope (hyph.)

Lucy Lawless role 30 Traffic sign 35 Long-gone bird 36 Hairy twin 37 Split apart 39 Dazzling 41 Fraidy cat, maybe 44 Patrick’s domain 45 Banned bug spray 47 Porter and stout

48 Abolishes 53 Shack or mansion 54 — -dovey 55 Oregon Trail town 56 Really excited 58 Flawless 61 Barely open 62 “Rule, Britannia!” composer 63 Roomy 64 Wildlife shelter 66 Harmless lie

screened outdoors at the BGC amphitheater.

The cinema event, which is the first leg of many other outdoor screenings scheduled to happen, is organized by HOOQ, Asia’s first and largest video-on-demand service, and powered by Globe LIVE, the telco’s new original productions arm HOOQ Hangouts turns the BGC

‘Ang Babaeng Humayo’

at Venice Film Festival THE Cinema One Originals and Sine Olivia-produced movie Ang Babaeng Humayo (The Woman Who Left), also the comeback film of Charo Santos with multi-awarded actor John Lloyd Cruz, is the only Asian film in the Main Competition category of the 2016 Venice Film Festival, Aug. 31 to Sept. 10, in Lido,Venice.

“Congratulations to direk Lav Diaz for bringing honor and pride to our country once again. I am very proud and humbled to be part of this extraordinary film and excited for our Kapamilyas to watch it,” said Santos.

“Ang Babaeng Humayo is Cinema One Originals production’s biggest film to date and everyone in the team is excited with the dramatic comeback of Charo Santos,” says Ronald Arguelles, Cinema One channel head and the film’s executive producer.

The movie, directed by internationally acclaimed Filipino independent filmmaker Lav Diaz, was shot almost entirely in Santos’ hometown, Calapan, Mindoro. It revolves around Horacia Somorostro, a woman whose life has become an imprisonment

with all its spins and randomness that made it very difficult, vicious, and inexplicable.

“The inspiration of the story is Tolstoy’s God Sees The Truth But Waits. What really struck me when I read it was that neither of us really understands life. We don’t really know. This is one of the most essential truths of existence. And more often, we abide and succumb to life’s randomness,” sats Diaz who is also the film’s editor and cinematographer.

Joining Santos and Cruz in the movie are Michael de Mesa, Shamaine CenteneraBuencamino, Nonie Buencamino, Marj Lorico, Mayen Estanero, Romelyn Sale, Lao Rodriguez, Jean Judith Javier, Mae Paner, and Kakai Bautista.

Cinema One Originals is an annual film festival spearheaded by Cinema One channel. It is now the longest running film festival in the country that produces its own content. It is alo the no. 1 movie cable channel in the country owned and operated

by Creative Programs, Inc. a subsidiary of the media and entertainment company, ABS-CBN Corporation.

Showbiz

Isah V. Red, Editor Nickie Wang, Writer isahred@gmail.com

D4

WEDNESDAY, AUGUST 3, 2016

Beauty queen material Danielle Lee

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EGAL Films proudly announced its latest batch of Regal Babies for 2016.

Oozing with good looks and brimming with talent, these young artists and trendsetters from ALV Talent Circuit have already made headway in the local showbiz scene over the past years, garnering their own share of fans and social media followers at the same time.

Chanel Morales Chanel Morales brought the house down with her a-capella rendition of Adele’s “Rolling In The Deep” on TV5’s reality talent show Artista Academy, making it to the finals round. She became a frequent romantic lead in TV5’s Wattpad Presents anthology.

The 20-year-old Scorpio describes herself as strong, creative and irreplaceable lives by her motto: “Don’t let anyone’s ignorance, hate, drama or negativity stop you from being the best person you can be.”

She finished her college education at University of Sto. Tomas.

David Licauco In a crowd of good-looking models, David Alexander Sy Licauco easily stands out. Keen and driven with passion to make it big in the industry, this Chinese Filipino model may just achieve his goal in no time. Already a fixture in various men’s fashion glossies, he is either flaunting the latest in men’s fashion, sharing his fitness regimen or simply enjoying his status as the evasive campus cutie that sends college girls forever swooning.

David has spread his wings since Mr. Chinatown 2014 in which he won first runner-up.

It was in Laboracay 2013, the much-awaited summer event when he was discovered. He was playing basketaball then with College of St. Benilde team.

An avid fan of Leonardo di Caprio and Daniel Padilla, the 6’1” athlete aspires to fulfill his dream of being recognized as a serious actor.

The social media influencer has been gaining a steady stream of followers, aptly called “Licauconatics,” who have been clamoring for showbiz debut.

Danielle Lee Tall, young and lovely Danielle Lee has always wanted to become a star, but these desires were put on hold to finish her studies. She gets a steady flow of modeling stints and is always compared to her fabulous older sister Divine. She doesn’t mind really because she looks up to her. In her free time, she likes going to the beach, loves engaging in sports and helping out in feeding programs and charities that focus on educating the youth.

Being the svelte and leggy teenager, Danielle has been touted as a potential beauty queen, following in the footsteps of showbiz personalities-turned-world-class-beauties, like Megan Young and Pia Wurtzbach.

Jerico Ejercito Jerico Ejercito could very well be the next action hero. He is the grandson of George Estregan and the son of actor and former Laguna governor Jeorge E.R. Estregan Ejercito. He has appeared in Manila Kingpin: The Asiong Salonga Story and El Presidente. His chiseled physique he says is genetic and due to hard work in the gym and track.

A political science major at De La Salle University, Jerico aspires to be a track and field Olympian.

First exposed to the modeling world in his formative years, he has admittedly been bitten by the showbiz bug at an early age, perhaps in large part due to his showbiz lineage as well.

But despite that, Jerico acknowledges he can’t hold on to his family’s coattails.

With his natural inclination for sports and his lean but muscular build, he sees himself more fit for action movies, just like his favorite flicks Die Hard, Fast 5, and The Avengers.

Is his college course any indication of a political career in the near future?

He says, “I can’t tell yet. As of now, I prefer to do the things that I can do while I’m still young, because most probably someday, that time would come.”

With these latest additions to Regal Films’ roster of celebrity talents, Regal Films matriarch Mother Lily Monteverde is greatly excited about the company’s lineup of projects for the young stars.

She says, “Through the years, the Regal Babies have consistently

Aspiring singer Chanel Morales

Regal Babies Batch 2016

signs for projects

Chinese Filipino model David Licauco

Showbiz scion Jerico Ejercito

turned out to be box-office superstars and this year is no exception. I see a bright future ahead for Chanel, David, Danielle and Jericho.”

Regal Films Executive Producer Roselle Monteverde lauds her good friend and renowned talent manager Arnold Vegafria’s penchant for building superstars.

She says, “We have always admired Arnold’s sharp eye for talent, and the impressive list of stars under his wing attests to his credibility as a star builder. As we share the same vision, we are looking forward to conceptualizing new and trendsetting projects aimed for today’s young generation of moviegoers.”

65th Miss U pageant in Manila MISS Universe mania is happening again after Tourism Secretary Wanda Teo confirmed the City of Manila’s hosting of the 65th Miss Universe pageant on Jan. 30, Monday in the Philippines but Sunday, Jan. 29 in the USA. In an impromptu press conference held last Thursday, Teo said that she got authorization from the Miss Universe Organization, which had earlier closed the deal with the Tourism Department, as well as the nod from the Office of the President Executive Secretary, to officially announce the Philippines as host of the next Miss Universe pageant.

Department of Tourism officials said they were just waiting for the official go-signal in the form of an administrative order to be signed by President Rodrigo Duterte before the end of the month. A memorandum of agreement will also be signed between the DOT and sponsors from the private sector to bankroll the $12 million-dollar cost of hosting the pageant in the Philippines.

This will be the third time after 1974 and 1994 that the country will play host to the most hotly contested beauty pageant in the world, matching that of Puerto Rico (1972, 2001, 2002). Only Mexico hosted the pageant four times �(1978, 1989, 1993, 2007). The Philippines as host is seen as marketing coup for the tourism industry.

It will be recalled that the 1972 Miss Universe pageant gave Filipinos the dolllike Finnish Johanna Raunio, who made a

TV Host Willie Revillame (third from left) with Atty. Felipe Gozon (center) during the contract signing between the WBR Entertainment and GMA Network

WBR Entertainment renews partnership with GMA Network movie Lorelei with Chiquito, and from the 1994 Miss Universe pageant, the Puerto Rican beauty Dayanara Torres, who became local TV’s dancing queen in the 90’s. Philippine representatives Guadalupe Sanchez and Charlene Gonzales finished in the top 12 and top six, respectively.

The Philippines’ hosting of the 65th Miss Universe may not augur well with Philippine bet Maxine Medina to win the Miss Universe title for the country. The last two times that Mexico hosted the pageant, its delegates did not even make it to the Top 10. In contrast, Puerto Rico celebrated with local bet, Denise Quiñones, making it all the way to the top, the only time that host country, outside the US, won the Miss Universe title.

“Mabuhay!!!,” reigning Miss Universe Pia Wurtzbach posted on Twitter relaying her sentiments on her answered prayers to bring for the third time the Miss Universe pageant in her own soil. Eton B. Concepcion

WBR Entertainment reaffirms its loyalty to GMA Network as it renews its co-production agreement with the Network.

“Tayo ay natutuwa dahil ito ay renewal ng contract ni Willie at napakaganda ng ratings ng show ni Willie, magaling naman talaga siyang host kaya nagagalak tayo at nagpirmahan na ulit,” said Atty. Felipe L. Gozon.

WBR Entertainment’s Willie Revillame shared that he feels extremely happy to be renewing his partnership with the Kapuso Network.

He noted that GMA Network treats him like family and has been very supportive of his program Wowowin.

“Thank you Atty. Gozon at sa management dahil napaka-supportive ng Network sa atin. The management, the people behind the Network, from the entertainment to the news, social media, wala kang mararamdaman

dito na merong intriga o na may ayaw sa’yo. So, everyone is happy lalong-lalo na ako, pakiramdam ko rito ay at home. Pagpasok mo sa studio, ganado kang pumasok at wala kang mararamdamang negative.

Aalagaan ka, andito silang lahat para suportahan ang show kaya on behalf of my staff, nagpapasalamat kami kasi ang sarap ng feeling na ang trato sayo dito ay pamilya. Ang importante rito ay naniniwala ang management sayo, sumusuporta sayo.”

Willie also revealed that Wowowin would be launching new segments aligned with their objectives to help more Filipinos and to provide quality entertainment. “May bago kaming segment, ang tawag dito ay Tawag ng Pangangailangan. Kung may pangangailangan sila na maibibigay namin, kami ang tatawag sa kanila.

Magre-register sila at tatawagan

ko kahit na nasaang sulok ka ng Pilipinas. Magbibigay kami ng kahit paano ay makakatulong. Meron din kaming pageant na Ms. Wow 2016, na aabangan din ng mga Kapuso viewers.”

Meanwhile, GMA President and Chief Operating Officer Gilberto R. Duavit Jr. said that Willie is one of the valued and appreciated Kapuso artists and the viewers can look forward to seeing him do international shows.

“Syempre, nasisiyahan tayong lahat sa naging lagdaan ng renewal. Willie is a highly valued and appreciated Kapuso at nasisiyahan tayo on the renewal.

Meron na ring pinag-aaralang mga show sa ibayong dagat. Si Willie ay popular at mahal na mahal ng ating mga kababayan sa ibang bansa kaya ngayon pa lamang ay inaayos na at pinag-aaralan ang mga magiging international shows ni Willie. We are very happy and excited.”