Manila Standard - 2017 October 9 - Monday

In this issue: Special Report on the Economy Sections D, E

VOL. XXXI • NO. 237 • 5 SECTIONS 32 PAGES • P18 • MONDAY, OCTOBER 9, 2017 • www.manilastandard.net • editorial@manilastandard.net

PROCESSION. Devotees transfer the image of their patron saint Our Lady of La Naval de Manila from the main altar of the Sto. Domingo Church in Quezon City to a well-lit carriage for the annual procession held on Sunday, Oct. 8, 2017. Ey Acasio

PH breeding ground for terrorists—Salic By Agence FrancePresse and Bill Casas THE Philippines is “a breeding ground for terrorists,” a Filipino suspect in a plot to launch attacks on New York City boasted to his companions, the US Justice Department said Saturday. Russell Salic and two others are accused of planing attacks on New York City in the name of the Islamic State group during the Mus-

lim holy month of Ramadan in 2016. A statement released by the US embassy in Manila said Salic, 37, transferred money to the other suspects for the operation, saying he could safely do this from the Philippines without attracting attention. Multiple locations including New York’s subway, Times Square and some concert venues were identified as targets in the plot that

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Duterte ratings slide to a ‘good’ 67%— SWS By Bill Casas PRESIDENT Rodrigo Duterte’s net satisfaction rating fell during the third quarter of 2017, the Social Weather Stations says in its latest survey released on Saturday. The Third Quarter 2017 SWS survey, conducted from Sept. 23 to 27, 2017, found 67 percent of adult Filipinos were satisfied, 14 percent were undecided and 19 percent were dissatisfied

with Duterte’s performance. Compared with the June 2017 survey, the gross satisfaction with Duterte fell by 11 points from 78 percent, the gross undecided rose by four points from 10 percent, and gross dissatisfaction rose by seven points from 12 percent. That gave a net satisfaction rating of +48 (percent satisfied minus percent dissatisfied), classified by SWS as good. This was 18 Next page

Pinoy doc faces extradition to US Charged with plot to launch 2016 terror attacks on NY By Agence France-Presse and Rey E. Requejo

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FILIPINO suspect in a thwarted terrorist plot to launch attacks on New York’s subway and Times Square will face legal proceedings seeking his extradition to the United States, Justice Secretary Vitaliano Aguirre II said on Sunday.

Russell Salic and two others have been charged with involvement in the plan to carry out the attacks in the name of the Islamic State group during the Muslim holy month of Ramadan in 2016. Salic was arrested in the Philippines in April 2017 and the US had requested his extradition, the US Department

of Justice said. “It only means that we have to begin the extradition proceedings being requested,” Aguirre said in a statement without giving a timeframe. “We have a process to be followed and this has been done many times in the past.” Aguirre said Salic was also under investigation over a loNext page cal case.

Opposition solon doubts EJK statistics KL cops nab By Macon RamosAraneta and Bill Casas SENATE Minority Leader Franklin Drilon on Sunday slammed the Philippine National Police for making the Filipino people appear stupid when he said there were

no extrajudicial killings in the country. He made the statement even as Communications Secretary Martin Andanar on Sunday insisted that the socalled extrajudicial killings, supposedly being committed under the intensified war against illegal drugs, could

not happen in a country without a death-penalty law. He denied the claims that the police had committed thousands of summary killlings in the course of their operation against illegal drugs. Drilon also criticized the Next page

Sereno warns Duterte of 1-year rule By Rio N. Araja and Rey E. Requejo

ADOPTED SON. Baguio City Mayor and Cordillera Regional Development Council chairman Mauricio Domogan (left) hands over a gong to Philippine National Police chief Ronald ‘Bato’ dela Rosa during the adoption ceremony held at Camp Dangwa on Oct. 7, 2017. The token symbolizes the Cordillera region’s unity on the thrust of the PNP chief and in support of President Rodrigo Duterte administration’s programs. PNA

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THE camp of Chief Justice Maria Lourdes Sereno said Sunday President Rodrigo Duterte is barred under the Constitution from carrying out his threat to file an impeachment complaint against her because of the one-year rule. Next page

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SUSPECT. This photo taken on Aug. 14, 2017 shows Russel Salic smiling after a hearing at the Department of Justice in Manila. The Filipino suspect in a thwarted jihadist plot targeting New York’s subway and Times Square will face legal proceedings seeking his extradition to the United States, the Philippine justice secretary said on Oct. 8, 2017.. AFP

3 Filipinos over IS link

KUALA LUMPUR, Malaysia—Malaysian police said Saturday they have detained three Filipinos, four locals and an Albanian suspected of militant activities, the latest arrests in a campaign against Islamic extremists in the Muslimmajority country. The group was detained between Septe. 27 and Oct. 6 in the states of Sabah, Selangor and Perak, police said. Fears have been growing in Malaysia that Muslim militants are ramping up their activities, inspired by the Islamic State group and a conflict in Marawi city in the neighboring Philippines between jihadists and authorities. In the Sabah raid, two Next page

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UST denies role in Castillo hazing death By Bill Casas THE University of Santo Tomas Alumni Association on Saturday denied that the school or the Faculty of Civil Law were involved in the hazing death of Horacio Castillo III, a first-year law student. In a joint statement, the UST Alumni Associa-

tion Inc. and the UST Law Alumni Foundation Inc. said the UST, a Catholic university, “abhors and condemns violence in any form, whether in our school or in our society. It is against our core beliefs. It is evil.” The Castillo family have suggested they will file charges against Faculty of Civil

Law Dean Nilo Divina, who is also a member of the Aegis Juris fraternity, and other school officials connected to the hazing incident. But the alumni association defended Divina whose leadership, it said, “strongly exemplifies the Thomasian core values of compassion, commitment and competence.” Next page

AFP: Marawi crisis over in October By Macon RamosAraneta ARMED Forces of the Philippines chief Gen. Eduardo Año said Sunday he is confident that government forces will be able to end the Marawi crisis this month.

“We will finish it because it is the time to finish it, and that is calculated based on our projection of being able to rescue the remaining hostages, neutralizing the last terrorist and minimizing casualties of our troops and Next page

Gen. Eduardo Año

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‘Purveyor of fake news deserves heavy penalty’ By Macon Ramos-Araneta

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ENATOR Bam Aquino said Sunday the penalties should be a heavier on government officials spreading fake news, adding they should be more responsible for their statements.

for spreading fake news on social media. During the Senate hearing on fake news, Aquino said both majority and minority senators agreed to fight fake news through legislation. Senator Joel Villanueva recently filed a bill that would punish people spreading fake news. “Freedoms have limits. This is the reason we have laws against libel,” Aquino said. He described as ‘‘premature’’ the pronouncement of

President Rodrigo Duterte that no law against fake news would be passed during his term. “That’s still premature. We just had our hearing [on fake news],” Aquino said. He said it was high time that netizens behind the spread of fake news, misinformation and black propaganda online were punished. “It is about time for our country to have rules on fake news,” Aquino said. He called on pro- and anti-government bloggers

and netizens to be more circumspect in expressing their views and to condemn hate speech. He then submitted a list of fake news sites to the National Bureau of Investigation to unmask those behind the propagation of misinformation online. Many of the websites used the name of the President The Presidential Communications Operations Office conceded there are websites bearing the President’s name that do create fake news.

On Sunday Año said Salic sent funds to other nations for the “IS terrorist network.” “He is providing financial support to several extremists or suspicious terrorists in the Middle East, in the US, Malaysia,” Año told reporters. “He was very active on social media, websites that groups related to ISIS have been using,” Año said using another name for IS. Año said Salic was not related to former Marawi mayor Fahad Salic, who was arrested in June on charges of rebellion in another part of Mindanao. Armed militants flying the black IS flag have been besieging the southern city of

Marawi since May, leaving more than 950 people dead. The fighting, which is still raging despite artillery and air strikes and US military assistance, has left the oncethriving city in ruins with thousands of civilians displaced. Aguirre said the Justice department would study its options on how to process Salic, since he also faces criminal charges here for kidnapping and murder. The charges were filed against him by five Iligan City residents identified as Gabriel Tomatao Permitis, Alfredo Sarsalejo Cano-os, Esperanza Permitis, Adonis Antipisto Mendez, and Julito Permitis Janubas over the in-

cident in April 2016. Two other people, identified as Jaymart Capangpangan and Salvador Janubas, were also abducted by the armed men and beheaded six days later.

tice for Horacio. It urged the involved members of the Aegis Juris Fraternity to come forward, cooperate in the investigation and face the consequences of their actions. It supported Congress’ plan to revisit the Anti-Hazing Law “in order to prevent the occurrence of similar cases in the future.” Castillo died on Sept. 17 of a massive heart attack after attending Aegis Juris fraternity’s “welcoming rites.” His badly bruised body was brought to the Chinese General Hospital by John Paul Solano, who did not ad-

mit, until later, that he was a fraternity brother “following orders.” Other than Solano, who surrendered to the police but was later released, the other 16 members involved in the case remained at large even as Castillo was laid to rest on Sept. 27. Several congressmen have weighed in on the alleged hazing death and suggested that the school itself had a big responsibility in preventing such deaths. Senator Panfilo Lacson said he found attempts to conceal certain details of the case.

“Terrorists from all over the world usually come here as a breeding ground for terrorists... hahahaha... But no worry here in Philippines. They dont care bout IS... Only in west,” he added. Salic was arrested in the Philippines around April 2017, the statement said. It added that El Bahnasawy, who authorities say has pled guilty to “terrorism charges”, was arrested in New Jersey in May 2016 and Haroon was arrested in Pakistan around September 2016. The extradition of Haroon and Salic to the US is pending, according to prosecutors. US authorities said Friday that Salic had sent “approximately $423” to fund the attacks and had promised to send more. The largely-Roman Catholic Philippines has been struggling for years with armed insurgencies arising from the Muslim minority in the country’s restive south.

Various Muslim militant groups have publicly pledged allegiance to IS in the past. Armed militants flying the black IS flag have been besieging the southern city of Marawi since May, leaving at least 955 people dead. The fighting, which is still raging despite the Philippine military using artillery, airstrikes and US military assistance, has left the oncethriving city in ruins with thousands of civilians displac A Palace spokesman on Sunday said the Duterte administration is aggressively addressing the problem of terrorism. “The suspect who said that the Philippines is a breeding ground for terrorists was arrested early this year. This government is already aggressively addressing the terror threats as you may notice in the operations that led to his [Russell Salic] arrest and the battle in Marawi,” said Communications Secretary Martin Andanar.

the House of Representatives. But she said Sereno’s legal time is determined “to fight to the very end.” “We know we are on the side of the truth,” Deinla said in Filipino. The House committee on justice has found there are sufficient grounds to move on to the next stage of the impeachment process, a hearing to determine probable cause set for November. Deinla said Sereno’s legal team is preparing for the House hearings as well as an impeachment trial before the Senate, which looks probable. House Deputy Speaker and Capiz Rep. Fredenil

Castro on Sunday said evidence is strong enough to impeach Sereno. In a radio interview over dzBB Catro said the evidence against Sereno is “overwhelming.” The failure of Sereno to declare all her properties in her statement of assets and liabilities net worth is already strong evidence to oust her, as was the case with the late chief justice Renato Corona in 2011. “The evidence is overwhelming. The grounds are overwhelming against Chief Justice Sereno. There is a strong possibility that she could be ousted,” he said. The Senate cannot disregard Sereno’s failure to dis-

He said it was about time the government created a law on fake news and held liable those spreading them, especially if they were government officials. The penalty on public of-

ficials spreading fake news should be heavier, he said. “Public servants should be held to a higher standard,” said Aquino who earlier slammed former sexy dancer-singer Mocha Uson

Pinoy... Armed Forces chief General Eduardo Año said on Sunday that Salic was in the custody of the country’s National Bureau of Investigation. Salic, a 37-year-old Filipino doctor, transferred $423 in May 2016 to the other suspects for the operation, US court documents released Friday showed. Multiple locations including New York’s subway, Times Square and some concert venues were identified as targets in the plot that was foiled by an undercover FBI agent, US authorities an-

nounced Friday. The agent posed as an IS supporter and communicated with Salic and his two alleged accomplices: Abdulrahman El Bahnasawy, a 19-year-old Canadian who purchased bomb-making materials, and Talha Haroon, a 19-year-old American citizen living in Pakistan. A complaint signed by the agent quoted messages sent by Salic to others involved in the plot in which he described terror laws in the Philippines as “not strict” in comparison to countries such as Australia and the UK. Salic was an orthopaedic surgeon associated with a hospital in Cagayan de Oro City, the complaint said.

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civilians,” Año said in an interview with GMA News on Sunday. Col. Romeo Brawner, deputy commander of Joint Task Group Ranao, said Saturday that there was no need to ask for another extension to the Oct. 15 deadline to end the crisis. Año said they received reports that some of the 40 remaining Maute group members in Marawi City were wounded. Eight foreign fighters were commanding the remaining members of the Maute group, he said. Senate President Pro Tempore Ralph Recto, meanwhile, proposed that Malacañang be given a standby fund of P15 billion for Marawi reconstruction, on top of the P10 billion that is already in the 2018 national budget bill. He said the additional P15 billion for the rehabilitation of the war-destroyed city can be included in the Unprogrammed Appropriations portion of the P3.76 trillion spending measure. He said that parking that amount in the Unprogrammed Appropriations would cancel the need for the passage of a supplemental appropriation bill in the event that the P10 billion for Marawi is not enough, or has been fully spent before the end of next year. Defense Secretary Delfin Lorenzana had announced that “at least P50 billion” will be needed to rebuild Marawi, which Recto described “as more damaged than Mosul,” the northern city in Iraq recently liberated from ISIS. Earlier, Senator Loren Legarda said more funds have been allocated for the quick recovery and rehabilitation of war-torn Marawi City under the proposed 2018 national budger. Legarda, chairman of the Senate committee on finance, said that aside from the budget under the National Disaster Risk Reduction and Management Fund for Marawi’s rehabilitation, the Senate also introduced additional funding to ensure quick recovery of the whole community.

Malaysians and three Filipinos were arrested, national police chief Mohamad Fuzi Harun said in a statement. “They were suspected of helping terrorist elements of the Abu Sayyaf Group infiltrate Malaysia via Sabah,” he said in a statement, referring to a militant group which operates in Mindanao. The 35-year-old Albanian, a lecturer at a university, was arrested in Selangor and is alleged to have had links to IS. The final arrests were of one man suspected of trying to organize attacks on places of worship, and a second who allegedly sought to recruit people to a local extremist group. Malaysia, which has rounded up hundreds of suspected Islamic militants in recent years, has not suffered a major terror attack in decades. AFP

The association said no law faculty member would participate in the commission created by the UST to investigate Castillo’s death. “We want the truth to come out, nothing more, nothing less,” the group said. The group said there was no attempt on the part of the university to cover up the incident, and neither was protection or refuge given to anyone involved. The alumni association said it was also seeking jus-

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Philippine Statistics Authority for not helping the government come up with reliable data on the number of drug addicts in the country in line with its drug war. “Is it 1.8 million or 4.7-million drug addicts? The PSA should help us find out,” Drilon said. He slammed PNP spokesman Dionardo Carlos for saying there were no summary killings in the country. “Ginagago tayo ng mga pulis, nitong spokesman na ito,” Drilon said. Carlos had issued the statement to correct an announcement he had made hours earlier―that there had been only one case of extrajudicial killing since Duterte took his oath of office on June 30, 2016. Carlos later said there was “officially no case” of extrajudicial killing under the 15-month-old administration of President Rodrigo Duterte. “Do they believe the people will believe them that there is no EJKs around us?” Drilon said. “Was not the case of Kian delos Santos extrajudicial killing?”

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was foiled by an undercover FBI agent, US authorities announced Friday. The agent posed as an IS supporter and communicated with Salic and his two alleged accomplices Abdulrahman El Bahnasawy, a 19-year-old Canadian who purchased bombmaking materials, and Talha Haroon, a 19-year-old American citizen living in Pakistan. El Bahnasawy told the undercover FBI agent that Salic was a trusted IS supporter who had provided funding to help the group on prior occasions, according to the Justice Department. The statement quoted messages sent by Salic to others involved in the plot in which he described terror laws in the Philippines as “not strict” in comparison to countries such as Australia and the UK.

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Lawyer Josa Deinla, spokesperson for Sereno, pointed out that under the Constitution, “no impeachment proceedings shall be initiated against the same official more than once within a period of one year.” Duterte had earlier threatened to file an impeachment complaint against Sereno on top of the one filed by lawyer Larry Gadon. Deinla acknowledged, however, that Duterte’s remarks against Sereno could sway the outcome of the impeachment proceedings against the chief justice at

The complainants said they were brought to Butig, Lanao del Sur, where they were held by members of the Maute group. They accused Salic of being the mastermind of the group behind the abduction. Before the abduction, the group claimed to have seen Salic talking to couple Cayamora and Farhana Maute, who have been charged wth rebellion in connection with the Marawi City siege.

Oil price rollback looms AFTER weeks of price increases, consumers may expect rollbacks in the prices of petroleum products this week, the Energy Department said Sunday. The department said prices will go down by P0.75 per liter of gasoline, P0.55 per liter of diesel and P0.90 per liter of kerosene as a result of the continuing oversupply in petroleum products.

On Oct. 3, the oil firms raised diesel and kerosene prices by P0.55 per liter and gasoline by P0.25 per liter. The oil firms also raised the prices of diesel and kerosene by P0.45 per liter and P0.65 per liter, respectively, on Sept. 26. Any adjustments on petroleum products are implemented every Tuesday. Alena Mae S. Flores

Duterte... points below the very good +66 (78 percent satisfied, 12 percent dissatisfied) in June 2017. Net Trust in Duterte also declined to a “Very Good” +60. The September 2017 survey also found 73 percent of Filipinos with much trust, 15 percent undecided, and 12 percent with little trust in Duterte. This gives a net trust rating of +60 (percent much trust minus percent little trust, correctly rounded), classified by SWS as very good. This was a 15-point decline and one grade below the excellent +75 (82 percent much trust, 7percent little trust) in June 2017. Duterte’s net trust rating was a moderate +16 when SWS first asked about it in December 2015. It stayed moderate from January 2016 to March 30-April 2, 2016, ranging from +13 to +29 before it went to a good +30 in April 18-20, 2016. It went to a moderate +26 just before the May 9, 2016 elections and rose to a personal record-high of excellent +79 just days before his inauguration in June 30, 2016. It stayed excellent for five consecutive quarters before declining by one grade to very good +60 in September 2017. The SWS terminology for Net Satisfaction and Net Trust Ratings: +70 and above, “excellent”; +50 to +69, “very good”; +30 to +49, “good”; +10 to +29, “moderate”, +9 to -9, “neutral”; -10 to -29, “poor”; -30 to -49, “bad”; -50 to -69, “very bad”; -70 and below, “execrable”. The 18-point decline in Duterte’s net satisfaction rating came amid the 15-point decline in his net trust rating between June and September 2017, which resulted from the declines in his net satisfaction ratings among both those with much trust and those with little trust in him. Duterte’s net satisfaction rating fell by one grade from excellent to very good among those with much trust in him, at +69 in September 2017, down by 10 points from +79 in June 2017. It fell by one grade from neutral to poor among those with little trust in him, at -38 in September, down sharply by 41 points from +3 (correctly rounded) in June. It stayed moderate among those undecided about their trust or distrust in him, at +14 in September, up by 4 points from

+10 in June. By area, the President’s net satisfaction rating from June 2017 to September 2017 fell by 30 points in the Visayas, 22 points in Balance Luzon and 19 points in Metro Manila, while it stayed steady in Mindanao. It stayed excellent in Mindanao, at +76 (82 percent satisfied, 6 percent dissatisfied) in September 2017, hardly moving from +75 (83 percent satisfied, 8 percent dissatisfied) in June 2017. However, it fell by two grades from excellent to good in the Visayas at +43 (64 percent satisfied, 21 percent dissatisfied) in September 2017, down by 30 points from +73 (83 percent satisfied, 10 percent dissatisfied) in June 2017. It fell by one grade from very good to good in Balance Luzon, at +36 (59 percent satisfied, 23 percent dissatisfied) in September, down by 22 points from +58 (73 percent satisfied, 15 percent dissatisfied) in June. It also fell by one grade from very good to good in Metro Manila, at +44 (68 percent satisfied, 24 percent dissatisfied) in September, down by 19 points from +63 (77 percent satisfied, 13 percent dissatisfied, correctly rounded) in June. The urban net satisfaction score of the President fell by one grade from very good to good at +48 (68 percent satisfied, 20 percent dissatisfied) in September 2017, down by 20 points from +68 (79 percent satisfied, 11 percent dissatisfied) in June 2017. Rural net satisfaction also fell by one grade from very good to good, at +47 (65 percent satisfied, 18 percent dissatisfied) in September, down by 16 points from +63 (77 percent satisfied, 13 percent dissatisfied, correctly rounded) in June. The President’s net satisfaction rating stayed very good in class ABC, at +57 (70 percent satisfied, 13 percent dissatisfied) in September 2017, 2 points below the +59 (65 percent satisfied, 6 percent dissatisfied) in June 2017. However, it fell by one grade from very good to good in class D or the masa, at +49 (68 percent satisfied, 18 percent dissatisfied, correctly rounded) in September, down by 17 points from +66 (78 percent satisfied, 12 percent dissatisfied) in June. It also fell by one grade from very good to good in class E, at +35 (61 percent t satisfied, 26 percent dissatisfied) in September, down by 32 points from +67 (80 percent satisfied, 13 percent dissatisfied) in June.

close all her other properties and assets in her SALN, he added. Castro, however, said the impeachment of Sereno would still depend on the determination of probable cause. “We have to look at the evidence,” he said. “If proven that there is hidden wealth, she is in danger,” he added. Oriental Mindoro Rep. Reynaldo Umali, chairman of the House committee on justice, declared sufficiency of grounds in the impeachment rap filed by lawyer Lorenzo Gadon against Sereno. Gadon filed an impeachment complaint against

Sereno, citing her culpable violation of the Constitution, corruption, betrayal of public trust and other high crimes. Castro dismissed Gadon’s request to appoint Duterte to act as special prosecutor in the impeachment proceedings once the complaint has reached the Senate. He, along with Bagong Henerasyon Rep. Bernadette Herrerra-Dy, said Gadon’s proposal was “out of [this] world.” Castro, also a lawyer, said Gadon should be guided by the Constitution that only members of Congress are mandated to represent the 11-man House prosecution panel in the Senate impeachment court.

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High court takes up Leila’s plea T By Rey Requejo

HE Supreme Court is expected to resolve tomorrow (Tuesday) the petition of detained Senator Leila de Lima to be released from detention and prevent her indictment for illegal drug trading charges. A court insider revealed that De Lima’s petition is included in the high tribunal’s en banc session today after several justices have already submitted their opinions.

“We have a divided Court,” a source said, admitting that some justices voted to deny the petition while others wanted to grant De Lima’s petition. Last week, De Lima

filed a last-minute motion seeking the inhibition of Associate Justice Presbitero Velasco Jr. due to alleged “conflict of interest” over his “prior actuations” in the case of convicted drug lord German Agojo, one of the witnesses against the senator in the drug cases. Velasco, however, turned down the plea of De Lima, saying he did not vote in favor of Agojo when the case was decided by the SC. Velasco stressed that De Lima’s allegation was based on a report by online jour-

nalist Marites Vitug whom he earlier charged with libel. “The attempt of De Lima to inhibit Justice Velasco could simply be an attempt on her part to gain an advantage in connection to a pending case before the Supreme Court involving illegal drug trade and/or conspiracy to commit illegal drug trade,” read the statement issued by the SC public information office. In her petition filed last February, De Lima asked the high court to stop her indictment before the

Muntinlupa City regional trial court by the Department of Justice for allegedly benefitting from illegal drug trade in the New Bilibid Prison. She sought issuance of a temporary restraining order stopping the proceedings in the drug cases against her and status quo ante order on the arrest warrant issued by Muntinlupa City regional trial court branch 204 that would allow her release from detention. Her petition, which was heard by the SC in oral ar-

guments last March, raised the issue on whether the cases against her fall under the jurisdiction of the RTC or the Sandiganbayan. The Department of Justice indicted the senator before the RTC, saying drug cases fall under the exclusive jurisdiction of the trial courts. But De Lima insisted that the executive agency has no jurisdiction over the case that should have been forwarded to the Office of the Ombudsman instead. And under the law, De Lima stressed that such

charges should fall under the jurisdiction of the Sandiganbayan—not the RTC—because her position at that time was secretary of Justice which had a salary grade higher than 27. The senator currently detained at the PNP custodial center also argued that the allegations against her do not actually constitute sale and trading of illegal drugs and liability of government officials under Republic Act 9165 (Comprehensive Dangerous Drugs Act), but rather only direct bribery.

TRAIN to drive workers even poorer–senator

DRY RUN FOR ASEAN. Members of MMDA stop motorists to give way to a convoy carrying ‘Asean delegates’ along Edsa Magallanes during a dry run held from Clark Airbase in Pampanga to Conrad Hotel in Pasay City for the upcoming Asean Leaders Meeting slated next month. Norman Cruz

WARNING that the proposed Tax Reform for Acceleration and Inclusion Act could render 1.7-million “near poor” wage earners poorer, Akbayan Senator Risa Hontiveros called on the government to lower the Value Added Tax from 12 to 10 percent. Hontiveros said that using the Department of Finance’s own “micro-simulation methodology,” while poverty will be marginally reduced as a result of the P200 per month income transfer as provided by TRAIN, 1,796,730 wage earners will also become even poorer. “Due to the said households’ families’ bigger size compared to the DoF’s assumed typical household size in its computations or even compared to its sample of five thousand households in each income grade, and because the National Housing Targeting System methodology is unable to identify 13 percent of the poor, millions of near poor people risk becoming poorer,” Hontiveros explained. The Senator urged the Finance department to use

the entire set of 50 thousand households interviewed in the 2015 Family Income Expenditure Survey - Labor Force Survey and compute the combined tax and income transfer effect for each of these households. She also said that the monthly transfers need to be made available for a longer period of time corresponding to the phased implementation of fuel excise tax increases. She proposed to reduced the country’s VAT from 12 percent to 10 percent, and then to eight percent to align it with the Association of South East Asian Nations, once VAT revenues reach 4.2 percent of Gross Domestic Product, which she said is what Thailand is able to collect with a seven-percent VAT rate. “Taxation is not bad per se as long as it benefits the majority of the people. Any proposed taxation that takes a larger percentage of income from low-income earners than from high-income earners is unjust and discriminatory,” Hontiveros said. Macon Ramos-Araneta

Drug lords Inter-island caravan rolls out, promotes peace-building efforts level up, use jets –Barbers SURIGAO del Norte Rep. Robert Ace Barbers, chairman of the House committee on dangerous drugs, on Sunday raised concern over the possibility that drug traffickers could be using private planes and helicopters to transport illegal drugs in the country. “There’s this [Columbian drug lord] Pablo Escobar story. He used planes to deliver drugs. As we speak, the Philippine Drug Enforcement Agency has no presence in private hangars,” he said. He said all concerned government agencies must double their effort to go after drug syndicates. “Drug lords are becoming bolder and ingenious,” he said. They have also been taking advantage of the internet technology to sell the illegal drugs, he said. Barbers reacted to a report of some drug peddlers using the mobileapp transport network vehicle services in the transport and delivery of shabu. He vowed to allocate funds to PDEA, Philippine National Police, National Bureau of Investigation and Department of Information and Communications Technology to back their war on illegal drugs. Rio Araja

GOVERNMENT agencies spearheadedby the Office of the Presidential Adviser on the Peace Process and civil society have concluded the “Peace Buzz”—a nationwide peace caravan that showcased the peacebuilding efforts and promoted the culture of peace, from Sept. 21 to Oct. 1. The Peace Buzz made its journey through Luzon, Visayas, and Mindanao; stopping by in significant places that played role in the peace process, namely: Baguio City, Quezon City, Le-

gazpi City, the island of Samar, Caraga region, Davao City, Cotabato City, Iligan City, and Marawi City. Peace Adviser Jesus G. Dureza stressed the importance of the peace caravan. “There are many ways how to attend to peace. You have to do reforms. You also have to inculcate a climate of peace in the neighborhood and build relationships,” Dureza stated. To put prime on the 2017 National Peace Consciousness Month, the Peace Buzz

focused on OPAPP’s latest peace table under President Rodirgo Duterte’s administration—the Peoples’ Peace Table. Its goal is to engage, meet, converse with and hear the concerns, inputs, recommendations of the youth, women, and indigenous peoples to advance the peace process in the country. OPAPP Undersecretary Nabil Tan put emphasis on the Peoples’ Peace Table “We believe each one has their own issues to talk about, and we believe that the signing

of a peace agreement does not end all things and it will mean overnight peace. Peace is so illusive, peace will take time to nurture, peace will have to be prayed, done and pushed by the whole nation initiative,” Tan expressed. Tan also stressed the meaning of this year’s peace month team “Puso para sa Kapayapaan. Magkaisa Para sa Bayan.” “The positive traits that should bring positive changes should be anchored on compassion, unity and inclusivity. It should always be

the thrust or the mantra to which engagement of all sectors who are for peace should unite,” Tan said. Since the beginning of the Duterte administration’s Peace and Development agenda, OPAPP has been conducting peace conversations and multi-sector caravans, but never before was it turned into a nationwide expedition. As the Philippines celebrated the International Day of Peace, the Peace Buzz made its first public appearance on the mountains of

Cordillera region. Tribal elders performed customary prayer rituals to bless the Peace Buzz as it began its journey from the North to the South. The region’s unity was manifested through an interfaith prayer framed by the tapestry of Cordillera’s six provinces: Abra, Apayao, Benguet, Ifugao, Kalinga, and Mountain Province. It was then brought to the leaders of Marawi City to signify the Cordilleran’s solidarity with the distraught city during trying times. Bill Casas

More trainees graduate from Sipag farm school

EARLY PREPARATION. Robert Usi, a candle maker from Grace Park in Caloocan City, gears up for business as the All Saints Day fast approaches. Andrew Rabulan

THE Villar Sipag (Social Institute for Poverty Alleviation and Governance) Farm School continues to produce more entrepreneurs with another batch of trainees graduating from its first five-month Dragon Fruit Production and Cultivation, Skills-Up and Business Set-Up. “We are providing this training course because we want our farmers to take advantage of the commercial value of dragon fruits and provide them with opportunities to increase their income from other crops,” stressed Senator Cynthia A. Villar, chairman of the Senate Committee on Agriculture and Food. Villar, also Managing Director of Villar SIPAG, said that dragon fruit production is the latest training course offered for free at the Villar Sipag Farm School. The Villar Sipag Farm School is also providing courses on urban farming, livestock production, and aquaculture, among others. The dragon fruit training, conducted by Dragon Fruit Master of thePhilippines Edilberto “Edy” Marcos, was launched last April 18, 2017. It aims to teach the participants put up their own dragon fruit farm and make their own products which could help them start their own business in the field of agricul-

ture (agribusiness). The training also included a farm visit at the Quee Town Farm in Indang, Cavite. During the training, participants were taught how to make dragon fruit wine, vinegar, dragon fruit ice cream, cupcake, jelly, dishes like dragon fruit omelet, and other products made of dragon fruit. They also acquired skills and knowledge in the field of agribusiness, including setting up of drip irrigation on their farms, producing dragon fruits during off season using solar power system and financial literacy. The Department of Trade and Industry Region Region 4A—Cavite also conducted a session on marketing and how to come up with an ideal label and packaging for the products made by the participants. Products made by the participants took center stage in their recent graduation. Dragon fruits can be taken as a fruit, flower, vegetable and as a health product. It became a popular commodity because of its health benefits such as the prevention of cancer and hypertension, enhancement of metabolism, and improvement of the immune system. Macon Ramos-Araneta

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Opinion

MONDAY, OCTOBER 9, 2017

Adelle Chua, Editor

EDITORIAL

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No longer somebody else’s problem

HERE was a time we could be complacent and think that terrorism was somebody else’s problem. Of course, there were many bandits in the jungles of Mindanao who kidnapped people—mostly foreigners—in exchange for millions of dollars in ransom, but these repugnant crimes were committed away from urban centers and far from Metro Manila. Except for the occasional attack—the Rizal Day bombing of December 2000 comes to mind—we felt safe and insulated from the senseless violence instigated by terrorist groups such as the Islamic State, also known as ISIS. We shook our heads as Islamic extremists sowed terror in Paris, London, New York and other world capitals and thanked the stars that the terrorists took no notice of us. But the May 23 attack on Marawi City, the biggest Muslim urban center in the Philippines, changed all that. Local terrorist groups acting on behalf of ISIS sought to establish a caliphate beginning with

the capital of Lanao del Sur province and overran the city. The siege to retake Marawi continues into its fifth month, with a group of holdouts, estimated at 40 to 50, still keeping an undetermined number of civilians hostage. Now comes the news that a Filipino jihadist, Russel Salic, was involved in a planned attack in New York City in 2016

during the holy fasting month of Ramadan. The 2015 attack on the Bataclan concert hall in Paris and another on the metro in Belgium the following year served as inspiration for the planned killings in New York. Multiple locations including New York’s subway, Times Square and some concert venues were identified as targets in the plot that was foiled by an undercover FBI agent, US authorities announced last week. In Manila, the United States embassy confirmed that Salic, a doctor, was arrested in April 2017 in the Philippines after he and two other nationalities allegedly plotted attacks on New York City during the summer of 2016 in support of the Islamic State of Iraq and al-Sham. The attacks were thwarted with the help of an undercover FBI agent posing as an IS supporter who communicated with the three plotters. Salic is awaiting extradition to the United States. US prosecutors said he sent $423 to

fund the New York attacks and promised to send more before he was arrested. The amount may sound trivial, but the death and destruction it might have wrought is not. The US Justice Department said over the weekend that Salic had boasted that his country was “a breeding ground for terrorists.” A Justice Department statement quoted messages sent by Salic to others involved in the plot in which he described terror laws in the Philippines as “not strict” in comparison to countries such as Australia and the UK. “Terrorists from all over the world usually come here as a breeding ground for terrorists ... hahahaha... But no worry here in Philippines. They dont care bout IS ... Only in west,” he added. Clearly, extremist terrorism is no longer somebody else’s problem. It is high time that the authorities, as well as the public, act accordingly.

Tourism woes

own opinion” as if he were uttering some sublime truth. The forming of opinion is an inevitable consequence of the fact that human thought is reflective, discursive and that we progress in knowing by the act of predication. But those who make the claim in this fashion apparently also make the claim that their “entitlement” closes them off to revision. The full claim therefore goes: “I am entitled to my own opinion, and therefore it is none of your business to show that I am wrong.” This is irrational, and one who doggedly stands by this position stakes a right to be irrational! Hitler’s irrationality—that infected a considerable number of his party-mates—was that the German race was superior and that the Jews were diluting its superiority.

WE CHECKED in at a Kaohsiung hotel perched on the verdant hills of this port city-cum-industrial complex, just an hour and 20 minutes from Naia, or 35 minutes to either Laoag or Lal-lo in Cagayan, if we only had direct flights. This was my third time to sleep overnight in this hotel, which is owned by a huge Taiwanese company with a diversified investment portfolio. We were on an investment mission along with businessmen from the Philippines, and the hotel was nearest to our confreres. What I noted was the huge drop in visitor arrivals since I first came in September or October last year. The hotel is a huge complex, with an entertainment complex, water sports facilities, a duty-free and outlet shopping mall, a “Kaohsiung Eye,” as one of my companions noted, similar as the huge ferris wheel atop it was to the famed London Eye. The reason for the continuing drop in visitor arrivals was the “drought” from China. Taiwan tourism had been quite reliant on millions of tourists coming from the mainland, aided by direct flights from various Chinese cities and a very reliable transportation system that connects to every spot in this island of a mere 11 million square miles (that’s about the whole of Luzon minus Quezon and the Bicol region). Kaohsiung is one of the largest ports in the world, which is why the Taiwanese heavy industry complex is located here and its environs. While the rest of Southeast Asia except Singapore was into small and inefficient ports, Taiwan embarked on constructing a massive port in its southern tip, rivaling those of the US and Japan. The foresight has paid off, as many investors, domestic and foreign, or partnerships thereof have established their operations here. The city is not really for tourists as much as it is for business travellers, but because of its history and proximity to the mainland, it has begun to attract a sizable number of tourists as well, until recently.

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Am I entitled to my opinion? ONE popular superstition that has been thought to be a necessary element of democracy is that everyone is entitled to his own opinion. And it is thought to be one of the shining moments in the struggle for freedom when one famous man is recorded to have said: “I may not agree with you but I shall defend your right to say it.” All of these—freedom of thought and opinion, freedom of speech and of the press (which, today, bloggers claim for themselves) are thought to be self-evident and beyond dispute. But I do not agree, and I shall take the unpopular position of disputing this claim. I find

two terms of the proposition particularly troublesome and in need of clarification: “entitled” and “opinion”! In Bernard Lonergan’s highly commendable account of insight, having an opinion is advancing a proposition despite the fact that some relevant questions remain that do not allow for certainty about it. “Given climate change and all other man-made catastrophes, humankind has only one hundred years more to go.” That is an example of an opinion, because scientists, climatologists, anthropologists and observers of the human condition do have questions that do not allow such a proposition to be ranked as a certainty. It is only when the “conditions” for the truth of a proposition have been fulfilled and no further

relevant supposed questions to be busy remain that w i t h . ” one moves When one Those from “I or the other who make think…I e nt a i l m e nt believe” to “I or prediction the claim in know…I am fails the this fashion sure.” test of apparently For those in verification the analytic or remains also make tradition, unver if ied, the claim e v e r y P is an prop osit ion opinion— that their “P” has and, for ‘entitlement’ “entailments” that reason, (on the one vulnerable, closes them off hand) and and subject to revision. “predictions” to revision. (on the So far all other). “I that I have am suffering advanced do from depression” entails not come from law books. the proposition “I am not There are no constitutional interested in things that provisions enunciating normally interest me” and them. They are matters of makes the prediction “I will rationality—the way people not be focused on what I am think and conditions for using

the predicate “rational.” One forms opinions. This much is certain, and that one is entitled to form opinions, there is likewise no doubt. Many of the world’s revolutionary discoveries and inventions started as “gut-feelings,” hints, guesses even—opinions! But to be rational, one holds the opinion conceding that one might be wrong. One grants the possibility that it can be demonstrated that one’s reasons for advancing a proposition are not good, or that the entailments and predictions of what one holds have not and do not come to pass. In other words, rationality demands that whoever advances an opinion does so with the openness to revision. That is just the trouble when someone pompously asserts “I am entitled to my

Rolando G. Estabillo Publisher can be accessed at: manilastandard.net Published Monday to Sunday by Philippine Manila Standard Publishing Inc. at 6/F Universal Re Building, 106 Paseo de Roxas, corner Perea St., Legaspi Village, Makati City. Telephone numbers 832-5554, 832-5556, 832-5558 (connecting all departments), (Editorial) 832-5554, (Advertising) 832-5550. P.O. Box 2933, Manila Central Post Office, Manila. Website: www. manilastandard.net

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Opinion

MONDAY, OCTOBER 9, 2017

A5

A brewing political storm THERE is a perfect political storm brewing. It is a plot by sinister forces to topple the President. The “yellows” or the past Aquino administration are allegedly behind the oust-Duterte move, according to the President’s loyal defenders of Cabinet members. President Rodrigo Duterte only has himself to blame. He fanned the flames of discontent with his confrontational and divisive style of governance. From Day One when he assumed the presidency, he started attacking almost everyone and every institution that’s not to his liking. He started with former US President Barack Obama whom he called “a son of a whore.” Duterte lashed out at the United Nations, the European Union, the Catholic Bishops Conference of the Philippines. He is also weakening the very institutions he’s supposed to protect like the Commission on Human Rights, Supreme Court

and the Office of the Ombudsman. Granted that Chief Justice Maria Lourdes Sereno and Ombudsman Conchita Carpio Morales and CHR chief Chito Gascon criticized the government’s brutal war on drugs and the alleged extrajudicial killing of suspects, that is not reason enough to do a demolition job on them. Duterte had some choice words for Gascon whom he called a pedophile for taking up the cudgels for young drug suspects killed by the police. This is the President of the Republic? Duterte’s image has gotten so bad because his mouth is a fountainhead of expletives and profanities. It’s not yet too late to shift gears and change the presidential style. Nothing would be lost except for pride. Humility to admit mistakes is actually a virtue and Filipinos are, by nature, forgiving. The President reiterated his dare to CJ Sereno and Ombudsman Carpio Morales to resign with him even as the two had already said they won’t. That leaves only Duterte willing to quit. Will he prove to the two ladies he means what he says by resigning first?

The term of Ombudsman Morales is only up to the middle of next year. CJ Sereno , on the other hand, can always be appointed by Duterte’s successor to a post befitting her stature. The two would be doing the country a great service with their sacrifice if they take up Duterte’s challenge for all three of them to resign. But going back to the brewing political storm, it is Malacanang which keeps claiming that there is a destablization conspiracy against him. Instead of talking about it, nip this plot in the bud and hold those behind it under arrest. Otherwise, it would be prudent to investigate the matter quietly until enough evidence is gathered by military intelligence officials who, by the way, do not believe the destab plot. There are loose talks some members of the military are involved in the plot. The military actually don’t have to do anything against the President. As shown in the People Power uprising against former Presidents Ferdinand Marcos and Joseph Estrada, the military did not have to do anything except withdrew its support from the Chief Executive.

A recent Social Weather Stations survey showed nine out of 10 Filipinos do not believe drug suspects killed during police operations resisted arrest and fought back. The impunity of extra judicial killings could be another ingredient to the brewing unrest among the populace. So far, the estimated number of EJK victims, according to unofficial sources, has reached 4,000. That is more than the total number of casualties on both sides in the four-month Marawi war. The daily breakdown of the Metro Rail Transit and the inconvenience suffered by commuters could be another factor in the build-up of the social volcano. Unemployment and impoverished families are crying out for government solutions. The government, however, is more preoccupied with the politics of punitive action against opponents and critics even as the country is unraveling at the seams. Most disconcerting to the people is the Duterte administration’s “embrace the enemy” approach to China’s continuing intrusion into the West Philippine Sea. Naval surveillance reported Chinese warships in

Philippine waters. Chinese Ambassador to Manila Ziao Jinhua dispelled the report claiming these are fishing vessels and nothing to be alarmed about. Whether they are warships or fishing vessels, they have no right to be in our waters. As if it could appease Filipinos over this latest violation of our sovereignty, China donated some 3,000 rifles to the Philippine military for its fight against the ISIS supported Maute terrorist group. Who was it who said “beware the Greeks bearing gifts?” The quote is a reference to how Troy fell for accepting a Trojan Horse, unaware enemy soldiers were hidden inside the huge wooden war trophy. The factors I mentioned for the making of a political storm exist and could catalyze citizens into action. It is not fake news that I might be accused of fomenting. It is Malacañang after all which is saying there is a destabilization plot to topple the President. If indeed there a plot to unseat President Duterte, he can still defuse the political tempest before he is overwhelmed by the confluence of events.

A People’s Choice guide to the Economics Nobel By Cass Sunstein BECAUSE economics is such a diverse field, with many distinguished thinkers, predicting the winner of the Nobel Prize in economics is notoriously difficult. But suppose that we narrowed the field, so as to focus on candidates who have not only made important theoretical contributions, but have also had a significant impact on the world, and affected the lives of numerous people? If that is the standard, here are some leading contenders for the prize, which is to be announced on Monday: Esther Duflo, Massachusetts Institute of Technology. Governments are keenly interested in the actual effects of their interventions, but they often lack tools to establish what works and what doesn’t. Building on work in medicine and related fields, Duflo has pioneered the use of randomized

Tourism... From A4

Just as most other cities of Taiwan, including its resort areas, have been feeling the pinch, better yet, the cut, because cross-strait relations have become rather anxious. When we checked in, which was at lunchtime, I noticed that the huge dining hall where buffet lunch was served daily was almost empty. Not that they have scrimped on the food offerings, these were as scrumptious as always before. Signs of the times, I thought. But as we came back later in the night, after a round of business meetings, I noticed the long lines at the reception counters. It was going to be a long weekend, a four-day holiday from Oct. 7 to 10, to celebrate the Double Ten National Day, commemorating the victory of the Chinese revolt against the Qing Dynasty. Taking a late breakfast at nine the following morning, I had to await my turn to

Am I... From A4

Its consequence was the Holocaust. The terrorists who flew passenger planes into the Twin Towers maintained the intransigent opinion that the West was hopelessly ungodly and perverse, and left a story of horror that will forever be etched not only in American

controlled trials. One group of people serve as a control; another group, otherwise identical, is subjected to a policy intervention, designed to reduce disease, increase access to loans, reduce poverty or improve education. If the trials are done properly, they can be used isolate the actual effects of the intervention. That’s huge progress. In recent work, Duflo argues that an economist can be a plumber: “She installs the machine in the real world, carefully watches what happens, and then tinkers as needed.” Richard Posner, University of Chicago. Recently retired from the federal bench, Posner is the leading thinker behind the field of law and economics, which tries to analyze legal rules with the help of economic tools. Suppose that a local government imposes a rent control law, or that a state court strikes down

certain contracts as “unconscionable” because they are unfair to poor people. What are the likely effects? Whether the issue involves William Nordhaus, Yale University. The problem of climate change raises unusually difficult problems for economists, not least because of high levels of uncertainty about the likely effects, tough questions about how to turn those effects into monetary equivalents, and serious challenges, at the intersection of economics and philosophy, about how to deal with harm to future generations. More than anyone else, Nordhaus has produced disciplined, rigorous and luminously clear thinking about all of these questions, in a way that is transparent about underlying assumptions and that makes real progress on, and possibly even solves, some seemingly intractable problems. W. Kip Viscusi, Vanderbilt

University. Viscusi is rarely listed among Nobel candidates, but his work on the monetary valuation of risks to life and health has had a massive effect. In the US alone, it plays a major role in the work of the Environmental Protection Agency, the Department of Transportation, the Department of Energy, the Department of Labor and the Department of Health and Human Services. These agencies and many others build on Viscusi’s work on the “value of a statistical life.” Viscusi does not really ask what a life is worth; he is interested in the value of statistical risks. If, for example, workers face Richard H. Thaler, University of Chicago. Over recent decades, the rise of behavioral economics has been the most interesting development in economic theory. More than anyone else, Thaler has been responsible for that development.

He has shown that in concrete ways, people do not act as predicted by standard economic theory. Far from seeing money as fungible, people put their cash in separate “mental accounts” (mortgage money, vacation money, retirement money). Investors overreact to unexpected news events. Human beings care about fairness—and they are willing to pay something to punish people who have been unfair. People are planners as well as doers, and when they are planning, they might try to foil their own doing (as, for example, by keeping high-calorie foods out of the house). Economics is called “the dismal science,” and since the Great Recession, the field has taken a beating in the public eye. Sure, some of the research of those listed here has produced dismal news —but it has also helped make the world a much better place. Bloomberg

be seated, as the breakfast buffet hall was packed to the rafters, mostly by families. But the service was brisk, and I noticed how families quickly left after their breakfast, mindful that many were queuing up for their turn. Speaking to the manager later, he told me that the hotel was at 85% capacity, and the visitors were almost completely “domestic” tourists. “We get by with strong domestic demand,” of course, at promotional rates, he intimated. When the foreign visitor arrivals decline, they keep their noses above water by enticing domestic tourism through attractive packages. No wonder my companions and I got a slew of discount coupons in their entertainment complex cum shopping malls along with our room key. That’s until Tuesday, when the Taiwanese families drive back or fly back to work. But it gives the huge investment in the privately owned tourism infrastructure relief from the

“drought” in mainland travel traffic. The story of the Kaohsiung hotel is replicated in many other areas of Taiwan, whether in the awesome Taroko Gorge area, or in Hualien, Yilan, Taitung, the Sun-Moon Lake in Nantou and elsewhere in this beautiful and well-kept island. But because local purchasing power is adequate, and there is enough disposable incomes to fuel domestic tourism, the travel industry is able to plod on. Government is responding as well, trying to attract more tourists from the non-traditional markets like Indonesia, Vietnam, Malaysia, and the Philippines, through visafree enticements. Inbound Philippine tourism to Taiwan, even without the visa-free announcement (which is yet to be operationalized) has grown by almost 73% yearon-year. But because there was a huge building spree of hotels

and restaurants during the happy days of mainland Chinese arrivals, the tourism industry here is now in some kind of crisis. The lifeline is provided by domestic tourism. There is a lesson here for our own travel industry, for both the public and private sectors in Philippine tourism to well consider. We have a woeful lack of hotel and resort facilities to service the growing influx of tourists from mainland China and Korea, among others. But the drawback is that our existing hotels and resorts charge an arm and a leg, so that even domestic tourists, who should be the mainstay of our tourism industry during the “lean months” and proverbial “bad times,” are repulsed. “Cheaper to go to Hong Kong, or Siem Reap, or Taiwan”, our compatriots keep saying. Indeed, when a pop-band once visited the country last year, many Filipinos preferred to go to Taiwan, where the same band had a concert. Why? The cost of

travel, hotel and plane fare included, plus the ringside concert ticket, was just a tad higher than what the concert impresario in the Philippines charged for just the ticket. The Taiwanese cut their rates and came up with a package to attract foreigners, all tied up to the popular concert. “Naka-libre ka pa ng biyahe at dalawang tulog”, a Filipino visitor told one of my staff during the concert. So he and his family added two more nights in Taipei on top of the tour package. Tourism management is a complex thing, but the economic rewards and the multiplier effect can be quite enormous. It’s just a mix of the right strategy, creative marketing, adequate infrastructure, good publicprivate partnerships, and taking the long view instead of the get-rich-quick culture that has always been the bane of Philippine business culture. And, never forget, the domestic traveller, especially the millennials who are more adventurous, more travel enthusiastic than ever before.

but in human history. And it will not do to say that opinions are fine, no matter how irrational, as long as one keeps them in the realm of thought and does nothing overt. This is unacceptable for two reasons: first, because thought never remains purely thought, especially when one’s opinions have to do with the fundamentals of coexistence; second, because

even thought has action— what discourse theorists have called “illocutionary force”. When you say: “I hope all drug addicts die”, you are performing the act of hoping. When you assert the proposition: “All Chinese are enemies of the Filipino people,” you are classing all Chinese as enemies. No, thoughts are not harmless at all—which is the reason that there can be no such thing as

a right to irrational thinking. In fact, even in regard to those matters such as taste and art and music of which the belief has long been accepted that there is no objective criterion, Gadamer is only one among many who have convincingly argued that utter subjectivism cannot be true. Even if a senior high school student who is an addict to rock or metal

has absolutely no liking for Chopin or Mozart, that will not make Chopin or Mozart any less “classical”, and if art were completely a matter of subjective taste, art criticism would be a completely thoughtless venture, and Michelangelo, Picasso and Monet would be no better than any sidestreet artist! If we all had the right to our opinions—no matter

Liberalize the economy SOCIOECONOMIC Planning Secretary Ernesto Pernia last week promised that large swathes of the country’s economy—nearly all industries except land ownership— are to be opened up to foreign investors as early as 2019, a move that he predicted would “easily double” foreign direct investment, accelerating growth. The country’s chief economic manager said he expects Congress to finally amend relevant economic provisions in the Constitution, paving the way for largescale liberalization that could stimulate job creation and therefore promote inclusive growth. Despite vigorous attempts by all administrations dating back to Fidel Ramos in the 1990s, little has been actually done to change what many economists have concluded as restrictive constitutional provisions that had held back the Philippine economy while its neighbors had made great strides. A protectionist economy, they said, made little sense in the context of a globalized economic order and had been the culprit in the notoriously subpar volume of FDI inflows. The restricted climate, in turn, had effectively discouraged foreign capital, a lifeline when it comes to creating high-quality jobs for the country’s work force. The 1987 Constitution, the supreme law of the land, now needs to be reexamined to ensure its responsiveness to the changing world. Enacted at a very different time, the charter presupposes conditions that may not be as relevant today, some three decades on. Attempts to change the Constitution have been hounded as much by the wisdom of the proposed amendments as the mode of amendment or assumed motive behind the push. In either case, the Filipino loses. In particular, the economic provisions Our legislators of the 1987 Charter aims to achieve must move fast economic sovereignty on systemic, and prosperity for Filipinos, abiding by a long-overdue broad nationalist policy reforms. foremost of which are strong economic restrictions against foreign investment. It wasn’t long before some realized that it was the same restrictions, one of the most protectionist in the world, that has hampered the country’s growth and potential. The 40-percent cap in foreign equity, to many, explains why the country’s FDI lags behind parallel economies in the region (highlighted by a miserable 1.5-percent drop between 2014 and 2015). For perspective, Vietnam, which only opened up its economy 10 or so years ago, boasts of double the Philippines’ FDI (and a 28-percent growth in the same period). Republic Act No 7042—or the Foreign Investment Act of 1991—had sought to allow 100 percent foreign equity except for two overriding exceptions, and the periodic reassessment only liberalized a few areas of the economy: casino, retail trade, lending, and financial companies. In particular, the Constitution mandates a 40-percent cap for foreign investments in the operation of public utilities, some educational institutions, as well as foreignled exploration, development and utilization of natural resources. The $200,000 minimum capital requirements for foreign investors—$2.5 million for foreign retailers— is also seen by some as prohibitive, and should be relaxed, if not lifted altogether. The rationale behind liberalization is thus two-fold. More investments would ideally translate to more jobs, while increased competition would yield to higher quality of goods and services. Pernia said President Rodrigo Duterte had been asked to certify the proposed amendments as urgent, which also included the method of such change via an appointed constitutional commission. In a Con-Con or a Con-Ass, the proposed revisions must be ratified by a majority of votes cast in a plebiscite conducted not earlier than 60 days or later than 90 days after the approval of the proposed revisions. It’s certainly a long process, and longer still considering all attempts in the past to make the long-overdue change. As time is of the essence, the formation of a Constitutional Assembly seems to be the most apt; Congress, as composed of elected legislative officials, already satisfy the representation requirement, and the plebiscite would serve as a check and balance, a final arbiter. Thus, while the fundamental need to lift foreign equity restrictions in the 1987 Charter, the matter of choosing the best method to make this change possible is also necessary, and convening a Constitutional Assembly seems practical. To quote think tank Stratbase ADR Institute, “Foreign equity restrictions found in the Constitution should be lifted and the most practicable way to amend the Constitution is by way of Constitutional Assembly”. This drastic move—combined with the Duterte administration’s ambitious infrastructure initiative and young, dynamic workforce—will greatly alter the economic future of the Philippines. For generations we have known that there is untapped potential in the Filipino peoples’ talent and work ethic. To harness the potential of the country’s “demographic sweet spot” our legislators must move fast on systemic, long-overdue reforms.

that they are clearly shown us to be false, perverse, specious, unreasonable —that would make all further rational consensus impossible, because rational consensus presupposes the responsibility whereby interlocutors and action participants, treating each others as equals, concede to the better reason and allow themselves to be won over by argument. But one who insists “I am entitled to my own opinion” will insist on his position even in the face of the better argument— and such intransigence

makes the settlement of disputes and the engendering of legitimacy from rational consensus impossible, leaving only one door open—strategic action. This cannot be a welcome prospect at all, because it means that he who has the power and the stealth, the might and the guile to prevail shall prevail, no matter that his beliefs might fill us with revulsion! rannie_aquino@csu.edu.ph rannie_aquino@sanbeda.edu.ph rannie_aquino@outlook.com

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MONDAY, OCTOBER 9, 2017

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Poe wants passport fee hike postponed

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Republic of the Philippines COMMISSION ON ELECTION Intramuros, Manila

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ENATOR Grace Poe on Sunday said she will introduce an amendment to the proposed P19.56-billion budget of the Department of Foreign Affairs for 2018 to freeze the fee for passports which will now be valid for 10 years.

Poe said she will push for the inclusion of an “anti-passport price increase” provision in the agency’s budget next year. “We can add one line which stipulates that the allocation is subject to the condition that the amount DFA will charge for a 10-year passport will not be increased and will remain the same as the fee for the current five-year passport,” she said. The DFA charges P950 for “regular processing” or passport delivery within 15 working days and P1,200 for “express processing” within seven working days. President Rodrigo Duterte signed into law in August a measure which extends the period of validity of a Philippine passport from five to 10 years, except for minors whose passports will only be valid for five years. “We just want to ensure that the price in getting a passport will not be doubled since the length of

its validity will be doubled,” Poe said. She said that for most Filipino travelers, the current 44-page passport, 39 pages of which are stampable, would suffice. “Not all Filipinos are jetsetters. If the DFA will issue a passport that will have more pages, then the best recourse is to maintain the current price, or call for extensive hearings, especially among OFWs, if they plan to charge more,” Poe said. About three-million Filipinos apply for new passports or renew theirs annually. “There is no need for the government to gain interest in issuing a document needed by our OFWs for their livelihood,” she said, noting that OFW remittances amounted to P1.34 trillion last year. “Maintaining affordable passports is the least we can extend to our OFWs for their sacrifices,” Poe said.

Solon pushes for more transparency in fund use By Macon Ramos-Araneta SENATOR Sherwin Gatchalian wants more transparancy in the use of the P198-billion Malampaya Fund as he called on executive officials to address ambiguities surrounding its utilization. Gatchalian, chairman of the Senate Energy Committee, wants a definite interpretation on the use of the special fund before the committee continues deliberations on proposals to tap it for various purposes. “In past administrations, the Malampaya Fund was misused for projects that were not related to energy. The intent of the law was not fulfilled. Now that there are pending proposals to use the fund, we cannot move forward without clarifying the mechanism. The process must first be cleared before we can actually use the fund,” he said. Under Presidential Decree 910, royalties from the Malampaya natural gas facility are to be used exclusively for the financing of energy resource development and exploitation programs to be identified by the Department of Energy. Energy officials say congressional approval is needed to utilize the Malampaya Fund, but the Department of Finance is claiming that proposals to tap the special fund only requires presidential authorization. In August, the Energy department bared its plan to request President Rodrigo Duterte to endorse to Congress the approval of a measure seeking the use of the Malampaya Fund for several interconnection projects. Energy Undersecretary William Fuentebella said only P47.74 billion out of a total collection of P241.37 billion from the Malampaya gas facility has been spent, leaving a balance of P193.63 billion. In the event Congress approves the bill, Fuentebella said the Malampaya fund will be utilized to finance the VisayasMindanao Interconnection Project, Bohol-Cebu Interconnection Project and Antique-Mindoro Interconnection Project.

Duterte forms NBN review council By Bill Casas THE President has created an Information Technology Review Council headed by National Security Adviser Hermogenes Esperon Jr. that will review the government’s national broadband plan. Other members of the council include the heads of the Presidential Communications Operations Office, the Department of Science and Technology, the Department of Information and Communication Technology, and presidential economic adviser RJ Jacinto. The council will review the plan over the next 15 days after which it will come up with a recommendation on how to establish faster internet connection across the country.

While the formation of the council has nothing to do with the resignation of former DICT chief Rodolfo Salalima, it was former after the latter left the Cabinet. The Palace said the council will weigh the pros and cons of various proposals to boost internet speed in the country, including the possible entry of foreign telecommunications companies. Earlier, President Rodrigo Duterte said he is inclined to allow four to six foreign internet service providers to break the country’s telco duopoly and promote greater competition for faster internet services. “The only way to improve your service is to give them competitors,” Duterte said, referring to leading telco companies Globe Telecom and Smart Communications.

SSB tax to generate P47b—Win A TOTAL of P47 billion in government revenue would be generated with the content-based approach to the sugar-sweetened beverage by imposing a tax of 10 centavos per gram of sugar contained in a beverage, Senator Win Gatchalian said on Wednesday. He said the scheme would encourage sweetened products, thus improving the public health outcomes expected from the tax. “The content-based scheme will penalize drinks which have more sugar. If the drink will have more sugar content, it will tend to be more expensive,” said Gatchalian during the Senate plenary debates on Senate Bill No. 1592, commonly known as the Tax Reform for Acceleration and Inclusion (TRAIN) Act. “So, there will now be an incentive for companies to lower down their sugar content to mitigate the increase in prices,” said Gatchalian. With this move, Gatchalian said “the government can actually hit two birds with one stone—achieve the health purpose of this bill and, at the

same time, achieve the revenue purpose of this bill.” Under SBN 1592, sweetened drinks will be subjected to a twotiered tax scheme: based on volume during the first 2 years of implementation, followed by a mixed regime based on volume and content in succeeding years. Gatchalian cited as examples the sport drink “Cobra”, which has 38.34 grams of sugar (equivalent to 9 teaspoons of sugar), instant (3-in-1) coffee (3.5 teaspoons) and soft drinks (5.2 teaspoons). Under the volumebased approach, the percentage price increase for the sports drink will only be 17%; while the instant coffee will increase by 25%; and for soft drinks, 76.25%. According to Gatchalian, these figures show that the proposed volume-based scheme would essentially penalize drinks which have less sugar and might inadvertently shift consumption patterns, which he said would have an adverse effect on the operations of beverage factories. Macon Ramos-Araneta

Senate hikes PNP budget next year, Recto says By Macon Ramos-Araneta SENATE President Pro Tempore Ralph Recto said the P19.9-billion increase in the PNP budget to P131.5 billion from this year’s P111.6 billion will enable them to hire 10,000 policemen, construct 96 police stations, and acquire billions of pesos worth of equipment under the PNP’s Capacity Enhancement Program. He also disclosed proposals by some senators to further raise the PNP budget to narrow down its shortage of 12,243 patrol cars, 11,352 motorcycles, 20,337 service handguns and 27,457 long firearms, 127 police fast boats, and 1,082 special purpose vehicle.

Partylist solon slams gun-toting on son, friends By Maricel V. Cruz BUHAY Hayaang Yumabong (Buhay) party-list Rep. Lito Atienza on Wednesday narrated a gun-toting incident perpetrated by an unnamed police colonel against his son and media personality Kim Atienza and his three cyclist-friends in Sta. Rosa, Laguna two weeks ago. Atienza said that Kim and his three companions were pedaling their bicycles along Sta. Rosa, Laguna when the unnamed police colonel who was driving his vehicle overtook and allegedly aimed his pistol at the four victims. “My son Kim and his group were just cycling and exercising along the highways of Laguna, biglang may nag-overtake na kotse, galit na galit. Binabaan sila, tinutukan ng baril sa mukha lahat,” Atienza, a senior House Deputy Minority Leader, said at a news conference.

Sports

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MONDAY, OCTOBER 9, 2017 sports_mstandard@yahoo.com

Adamson, FEU dispute finals seat F

AR Eastern University has the momentum but Adamson is out for redemption as they dispute the other finals berth in the Premier Volleyball League Collegiate Conference today (Monday) at the Filoil Flying V Center in San Juan.

The Lady Falcons gave away 43 Game Two of their best-of-three points to the Lady Tams on errors, semis series, according to Adamson which practically helped FEU win University coach Airess Padda.

Games today

3:30 p.m. – Ateneo vs UST (men’s) 6:30 p.m. – FEU vs Adamson (women’s)

“We had too many errors and you’re not gonna be able to win games like that,” said Padda, referring to their 25-21, 25-27, 2025, 25-23, 11-15 loss to FEU last

Saturday that forced a sudden death for the other finals slot in the season-ending conference of the league organized by Sports Vision. National University took the first berth via an equally thrilling five-setter over Arellano University, 25-17, 26-28, 17-25, 25-13, 20-18, late Saturday with the Lady Bulldogs reaching the

championship playoff unbeaten. The Lady Falcons looked headed to matching that feat but wavered with those miscues, including two in the clutch that enabled the Lady Tams to live another day and stay in the hunt for a finals seat in the league backed by Mikasa and Asics. “It’s pretty simply, we helped FEU win,” said Padda.

But FEU coach George Pascua credited his wards for dealing the Lady Falcons their first defeat in the conference, saying it was a result of their hard work. “We always make adjustments on each game, particularly on the position of our strikers. I always want to see my players’ potential for them to become effective,” said Pascua.

Perez is best NCAA player

De Ocampo, St. Clare start showdown Games Oct. 9

AS Lyceum draws near to a historic elimination-round sweep in the NCAA Season 93, CJ Perez is starting to make it look easy. Perez was once again on the forefront of their attack as the Pirates scratched win number 16 with an 81-69 win over the Letran Knights on Friday. Perez scored 10 of his 24 points in the final seven minutes of the fourth quarter as the Pirates repeatedly turned back every rally from the Knights and move two wins away from completing an 18-game elimination round sweep. For his exploits, he once again bagged the Chooks to Go NCAA Press Corps Player of the Week Award. Perez’s effortless destruction of the Knights earned him the praises of head coach Topex Robinson, but for his longtime mentor it’s really the attitude of his prized wingman which truly stands out.

(San Andres Sports Complex) 12 noon -- Enderun vs RTU (W) 2 p.m. -- OLFU vs St. Clare (J) 4 p.m. -- De Ocampo vs St. Clare (S)

ONE team is seeking to begin a new destiny, while the other is hoping to win its first title in only its second year in the league. Against this backdrop, defending champion St. Clare College-Caloocan and De Ocampo Memorial College begin their best-of-three title showdown in the NAASCU Season 17 men’s basketball tournament at the San Andres Sports Complex in Manila. Game time is 4 p.m. with odds about even between the Saints and the Cobras, the two two best teams since the start of the prestigious 16-team competition last Aug. 17. “We’ll do our best (to win the title). The boys are focused on only one goal even before the start,” said St. Clare coach Jino Manansala, who is hoping to give the Caloocan-based Saints their title in six years. “It’s a different ballgame now, but we have to continue to bring our best and dethrone the defending champions,” said De Ocampo coach Ronnie Dojillo. St. Clare will lean anew on reigning NAASCU MVP Aris Dionisio, Pareng Rebugio, Junji Hallare, Earvin Mendoza, Irven Palencia, Joshua Escober, Mark Puspus, Raymond Rubio, Russel Fuentes, Michael de Leon, CJ Catura, Nash Gonzales, Raymart Lumabas, Joy de Mesa, Nico Principe and Republic of Mali exchange student Mohamed Pare. De Ocampo will rely on Dahrrel Caranguian, Jhonard Clarito, Igi Boy Sabasaje, Raymart Atabay, Redel Fabro, Tyrone de la Cruz, Peter Manalang, Angelo Ramos, Brian Gallardo, John Pascual, EJ Canelas, Arnel Gutierrez, Japhet Montojo, Jomar Wenceslao and Harold Lescano. Both St. Clare and De Ocampo topped their respective groups during the elimination round with the Saints finishing with a 6-1 winloss record in Group A and the Cobras completing a seven-game sweep in Group B.

Exum out for season; Mavs’ Curry injured LOS ANGELES—Utah Jazz point guard Dante Exum suffered a separated left shoulder and ligament damage according to multiple reports Saturday and could miss the entire upcoming season. The 22-year-old Australian, selected fifth overall in the 2015 NBA Draft, was hurt driving to the basket in the first half of Utah’s 112102 pre-season victory Friday over the Phoenix Suns. An MRI revealed details of the injury, leaving team officials and doctors considering recovery timetables and rehabilitation options Saturday. ESPN reported the injury was severe enough to jeopardize the Aussie’s entire season. Exum averaged 4.8 points and 2.4 assists in his rookie NBA campaign for Utah but missed the entire 2015-2016 season after suffering a left knee injury in August 2015 while playing for Australia’s national team. Meanwhile, Dallas Mavericks guard Seth Curry, the younger brother of NBA champion Golden State Warriors star Stephen Curry, will be sidelined indefinitely with a left leg injury, the Mavericks announced Saturday. AFP

Mercedes’ British driver Lewis Hamilton crosses the finish line to win the Formula One Japanese Grand Prix at Suzuka. AFP

Hamilton obliterates F1 field in Japan SUZUKA—Lewis Hamilton romped to victory at the Japanese Grand Prix on Sunday to close in on a fourth world title after Sebastian Vettel retired with engine failure on lap four. The Briton dominated from pole, steering his Mercedes to a crushing eighth win of the year, stretching his Formula One championship lead over Vettel to 59 points with just 100 left to play for. “Honestly I could only have dreamed of having this kind of gap,” said Hamilton after holding off a late charge from Max Verstappen in Suzuka. “The team has done a phenomenal job, they’re just so meticulous so a big thank you to the guys.”

The Red Bulls of Verstappen -- who stunned Hamilton to win in Malaysia last week -- and Daniel Ricciardo secured a double podium for the second successive race. Valtteri Bottas finished fourth in the second Mercedes with Kimi Raikkonen’s Ferrari taking fifth and Esteban Ocon sixth for Force India. Hamilton celebrated a fourth victory in Japan and a 61st career win with a ‘Mobot’ pose, a tribute to his friend Mo Farah, the Olympic champion athlete, who was watching trackside. “Max drove an outstanding race and it got very close at the end,” said Hamilton. “His car was looking so big in my mir-

Corteza fights Hohmann for world title

Mordido grabs Shell lead

KYLEN Joy Mordido dished out top form and upended three male rivals, posting 6.5 points to wrest the lead in juniors division even as David Rey Ancheta took control of the kiddies play after seven rounds of the Shell National Youth Active Chess Championship grand finals at the

MOA Music Hall in Pasay last Saturday. Mordido, a Woman Candidate Master, trampled Irish Yngayo and Cyril Telesforo, held top seed Rome Pangilinan to a draw in the third round then racked up four straight wins, including an upset over No. 3 James Erese.

The fourthranked Dasmariñas National HS mainstay also toppled No. 5 Julius Gonzales then outplayed Mary Joy Tan and Francois Magpily to seize the lead in the 13-16 age group of the grand 25th and final staging of the annual event sponsored by Pilipinas Shell.

NEW YORK—The finals today will create pool history in one fashion or another. If Lee Van Corteza wins, he will become not only the first Filipino World 14.1 champion, but also the first Asian to do so. His Filipino compatriots Efren Reyes lost in the finals to USA’s John Schmidt, while Francisco Bustamante lost to Netherland’s Niels Feijen. If Thorsten Hohmann wins, he will further solidify his position in pool history as he will become tied for the 3rd All-Time greatest straight pool player with Irving Crane. More fascinating, he will be only within two wins away from tying Willie Mosconi and five wins away from tying Ralph Greenleaf at 10 wins. At 38 years old, it seems very feasible Day 6 of the World 14.1 showed the world once more why Germany’s Hohmann is the King of straight pool. In his quarter-finals match versus reigning champion Mika Immonen of Finland, he was faced with a massive deficit and pressure. Mika was within 1 rack of entering his second straight World 14.1 semifinals at 184 balls, while Hohmann had 88 balls. After a bad safety by Immonen, Hohmann got to the table and never left. 112 ball run and out to advance to Hohmann’s 6th ever World 14.1 semi-finals. Once he got there, waiting for him was 2014 World 14.1 Champion Darren Appleton of England, who was playing superb. But Appleton played well below his speed while Hohmann kept steady to a 200-87 win to goto the finals. “One bad safe and he made me pay dearly. Good shooting Thorsten. Damn you!” wrote Immonen on his Facebook afterwards.

rors. It wasn’t a walk in the park today. There’s still a long way to go,” added the Briton. “Anything can happen in life so I have to keep my head down and hopefully continue to perform like this.” AFP Manila

Standard

TODAY

DEPARTMENT OF SCIENCE AND TECHNOLOGY INVITATION TO BID The Department of Science and Technology-Central Office, through its Bids and Awards Committee (BAC), invites suppliers/contractors/service providers to bid for the hereunder project:

Name of Project

Supply of Labor and Materials for the Retrofitting of the DOST-Central Office Main Building (Phase IV) (DOST-CO-PB NO. 2017-010-010)

Location

Gen. Santos Ave., Bicutan, Taguig City, Metro Manila

Brief description

Retrofitting Phase IV of the DOST-Central Office Main Building, Columns, Shear Walls, Waffle Beams and Slabs at the basement, First Floor, Second Floor, Third Floor and Roof Deck, for structural enhancement.

Approved Budget for the Contract (ABC)

Php 55,372,122.16

Contract Duration

Twenty (20) months

Bidding Activities: 1. Issuance of Bid Documents

October 09, 2017-November 03, 2017 (8:00 am – 5:00 pm) and November 06, 2017 (8:00 – 9:45 am)

2. Pre-bid Conference

October 23, 2017 (10:00 am)

3. Opening of Bids

November 06, 2017 (10:00 am)

Prospective bidders should have experience in undertaking a similar project within the last five (5) years with an amount of at least 50% of the proposed project for bidding. The Preliminary Examination of Bids shall use nondiscretionary “pass/fail” criteria. Post-qualification of the lowest calculated bid shall be conducted. Bids received in excess of the ABC shall be automatically rejected at bid opening. Bidding is restricted to organizations with at least seventy-five percent (75%) interest or outstanding capital stock belonging to citizens of the Philippines, as specified in Republic Act 5183 (R.A. 5183). The financial bids from Bidders who pass the preliminary examination of the eligibility and technical components in the technical envelope will be opened. The process for the preliminary examination of bids is described in Section II of the Bidding Documents, ITB. The bidder with the lowest calculated bid (LCB) shall advance to the post-qualification stage in order to finally determine his responsiveness to the technical and financial requirements of the project. The contract shall then be awarded to the Lowest Calculated and Responsive Bidder (LCRB) or Single Calculated and Responsive Bidder (SCRB) who has been determined as such during the post-qualification procedure. All particulars relative to Eligibility and Technical Requirements Screening, Bid Security, Performance Security, Pre-Bidding Conference(s), Evaluation of Bids, Post-Qualification and Award of Contract shall be governed by the pertinent provisions of R.A. 9184 and its Implementing Rules and Regulation (IRR). Bid Documents will be available only to prospective bidders upon payment of a non-refundable amount of Php50,000.00. The Department of Science and Technology assumes no responsibility whatsoever to compensate or indemnify bidders for any expenses incurred in the preparation of the bid. Approved by: (Sgd) Atty. EMMANUEL S. GALVEZ BAC Chairperson DEPARTMENT OF SCIENCE AND TECHNOLOGY 3rd Floor EPDC Building Metals Industry Research and Development Center (MIRDC) Gen. Santos Ave., Bicutan, Taguig City, Metro Manila 02-8372071 Loc. 2049 or 2090 (MS-OCT. 9, 2017)

Sports

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

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MONDAY, OCTOBER 9, 2017

With no. 1 in the bag, Halep eyes ‘Slam’ title B

EIJING—Emotional Simona Halep called it the best day of her life and targeted a maiden Grand Slam as she surged to number one in the world for the first time on Saturday.

Simona Halep of Romania celebrates after winning her women’s singles semi-final match against Jelena Ostapenko of Latvia at the China Open tennis tournament in Beijing. AFP

The tearful Romanian said she had fulfilled a dream courtesy of her defeat of Latvia’s Jelena Ostapenko 6-2, 6-4 and will play France’s on-form Caroline Garcia in Sunday’s China Open final. In the men’s draw, world number one Rafael Nadal beat Grigor Dimitrov to set up a tasty final showdown with temperamental Australian Nick Kyrgios, who pulled off a stunning 6-3, 7-5 win over starlet Alexander Zverev. Halep’s ousting of Spaniard Garbine Muguruza at the top of the women’s game will be officially confirmed on Monday when the latest rankings are released. The 26-year-old will be the fifth woman to hold the top spot this year, but the first Romanian in the history of the WTA. She smiled broadly, then cried and was presented with a flower arrangement in the figure “1” -- which she hugged tightly -- to celebrate the landmark moment. “My dream is true now, in that moment you cannot believe 100 percent that it’s happening, so I was in tears a little bit,” she said. “Maybe first time on court (to cry) nice tears... It’s the best moment in my life and I want just to keep it. “Now tomorrow already I have just to restart everything, to start again to play the same and to work harder. “And I have a few more dreams in my career.” Asked by AFP what those were, she smiled: “I tell you one, only one: to win a Grand Slam, which you know.” Halep saw off former number one Maria Sharapova earlier this week on Beijing’s outside hard courts and her defeat of Ostapenko had a whiff of revenge -- the 20-year-old won their duel in the French Open final earlier this year, depriving Halep of a first Grand Slam. AFP

Nieto’s freebies, Ravena’s defense key Ateneo’s win By Peter Atencio

Games Wednesday

M

ATT Nieto’s two charities and Thirdy Ravena’s defense on Ben Mbala in the closing seconds helped the Ateneo Blue Eagles escape with a 76-75 win over the defending champion La Salle Green Archers in the Universities Athletic Association of the Philippines Men’s Basketball Tournament at the Mall of Asia Arena on Sunday. Nieto canned in two chariWith a paying crowd of ties with 3.9 seconds left to 14,717 watching, Ravena then give the Blue Eagles a one- delayed Mbala from scoring on point edge. a drive that fell short of the bas-

(at the Araneta Coliseum) 2 p.m. Adamson vs UE 4 p.m. UP vs La Salle

ket as time expired. Nieto shot 16 points for the Blue Eagles, who swept the first round at 7-0, while Ricci Rivero unloaded 19 points for the Green Archers, who found themselves sharing second with the Adamson Falcons in second at 5-2. “We were asking for better defense from the guys. We weren’t too happy with our defense. And they followed the defensive scheme that we

wanted to do in the last three minutes,” said Blue Eagles coach Sandy Arespacochaga. Meanwhile, Matt Salem’s triple in the last 45 seconds helped propel the National University Bulldogs to a 7770 victory over the University of the Philippines Fighting Maroons. The 6’3” power forward, who was averaging six points after six games, connected off Adven Diputado’s pass and the Bulldogs went on to finish the first round with three wins in seven games. “It’s no secret. Matt has been struggling. But scoring

Lady Falcons nail 3rd victory; UST, FEU advance NATHALIA Prado had 20 points and 11 rebounds as Adamson University turned back University of the Philippines, 67-57, to end its first round campaign on a bright note in the UAAP Season 80 men’s basketball tournament yesterday at the Mall of Asia Arena. Jamie Alcoy also shone for the Lady Falcons with 15 points, five steals, five boards and four assists. Adamson University has won its last two contests to tie Far Eastern University in fourth place at 3-4, a game ahead of fierce rivals De La Salle and Ateneo (2-5). Defending champion National University swept the first round with a 7-0 card, while

University of Santo Tomas and University of the East are holding second and third spots with 6-1 and 5-2 cards, respectively. The Lady Maroons, who trailed by as much as 18 points, remained winless in seven starts. Meanwhile, defending champion University of Santo Tomas and Far Eastern University stayed unscathed to claim the first two women’s semifinal berths in the UAAP beach volleyball tournament late Saturday at the Sands SM By The Bay. Cherry Rondina and Caitlyn Viray overwhelmed University of the Philippines’ Diana Carlos and Ayel Estrañero, 21-7, 21-15, and Adamson University’s Bern Flora and Chrislyn Uy,

21-9, 21-14, to give the Tigresses a 5-0 card. The Lady Tamaraws also picked up their fifth straight win, as Bernadeth Pons and Kyla Atienza rolled the Lady Falcons, 21-12, 21-14, and University of the East’s Judith Abil and Angelica Dacaymat, 21-10, 21-7. De La Salle and the Lady Maroons moved closer to completing the semifinal cast after ending their Day 3 assignments in joint third at 3-2. The Lady Spikers’ Tin Tiamzon and May Luna turned back the Lady Warriors, 21-17, 21-16, and needed three sets to edge National University’s Roma Doromal and Audrey Paran, 17-21, 21-19, 20-18.

Bruins, Sawada share Powerman honors CLARK, Pampanga—Australia-based Dutch Thomas Bruins bucked an early slip and delivered as promised, winning the Classic event of the 2017 Powerman Philippines Asian Championships presented by Summit Natural Drinking Water here yesterday. Bruins, 27, dropped his rehydration bottle after hitting a speed bump in the first run to bike transition but went on to top the 10km run-60km bike-10 km run event in two hours, 57 minutes and 28 seconds. “I got on the bike in the transition and I lost my drink bottle so I got to do the bike without as many carbs as I wanted to and I was a little bit of worried that I would run out of energy in the bike,” said Bruins, born in the Netherlands before his Dutch parents made Australia their base when he was seven. “But luckily, I was okay,” added Bruins, who finished second to Gael Le Bellec of France here last year. He also placed 15th in the re-

cent Powerman World Championship in Switzerland. Aussie Matt Smith came in second in 3:07:46 while Emmanuel Commendador emerged the best Filipino finisher at third with a 3:09:20 clocking. John Leerams Chicano, who pocketed a silver medal in the recent Southeast Asian Games in Kuala Lumpur, Malaysia, and Raymund Torio ended up fourth and fifth in 3:10:46 and 3:13:27, respectively. Japanese Aira Sawada turned in a 1:35:19 clocking to capture the women’s crown in the event organized by P & F International Events Group. Filipina Bid Ferreira finished second in the 5km run-30km bike-5km run in 2:10:19. Filipina Michelle Gilbuena also held her ground and topped the women’s side of Powerman Classic, clocking 3:39:34. She beat Aussie Alexandra McDougall, who timed 3:40:44. Japanese Aira Sawada turned in

a 1:35:19 clocking to capture the women’s crown in the Powerman Short category of the event organized by P & F International Events Group. Filipina Bid Ferreira finished second in the 5km run-30km bike-5km run in 2:10:19. For complete results, visit www. powerman.ph. Commendador, 28, said his strong finish this year more than made up for his failure to finish the race the last time out. “I passed out in the final run last year because I was ill-prepared. I made sure a trained well on this one,” said Commendador from Bohol, who hopes to make the national team in duathlon when the country hosts the SEA Games in 2019. In the short elite section, 23-yearold Jarwyn Banatao of Standard Insurance beat Malaysian Jason Loh to capture the crown in 1:24:01. Loh timed 1:25:56. Cipriane John Topia checked in third in 1:27:04.

Thomas Bruins celebrates at the finish after ruling the Powerman Philippines Asian Championship.

Black: Meralco more prepared this year By Jeric Lopez

Norman Black

WHAT exactly is the difference between last year and this year for Meralco? If you ask coach Norman Black, poise, maturity and experience are key factors why the Bolts might finally be primed up to win their first championship in the Philippine Basketball Association. Back in the finals of the 2017 Governors’ Cup after last year’s

heartbreak in the same stage, the Bolts are looking to make the most out of this second crack at a championship. For obvious reasons, Black feels like this is his team’s best shot at glory. “Unlike last year when we were still gaining finals’ experience while trying to win, we’re more prepared for this moment this year,” said Black. The multi-titled coach shared the key reasons why the Bolts are

much more potent this time around. “First, we’ve already been there and felt what it’s like to be here last year. There’s less adjustment, we know what to expect more or less after our continued development over the past year,” said Black. “We’re more matured and experienced as a team and we’ve made some upgrades as well.” While reigning Best Import Allen Durham resumed his unfinished business, it’s the astonishing

emergence of rising star Baser Amer that is making a lot of noise all season long for the Bolts. After Jimmy Alapag’s retirement, the steady playmaker embraced being the leader of the team and has been running the show effectively and consistently all season long. “Baser (Amer) is such a different player now. He always has it in him to be this good, but he has elevated us with his play and leadership,” said Black.

wise and defensively, he’s average. But I told him that for us to really make a good push this season, he needs to overachieve,” said Bulldogs’ coach Jamike Jarin. Salem responded in a big way as he banged in 21 points, his trey allowing the Bulldogs to move away, 75-70. The Maroons, who have the same record with the Bulldogs, last stayed close at 70all on Ibrahim Outtara’s layup off Issa Gaye with 1:34 left. Then, the Bulldogs broke the tie with JayJay Alejandro’s layup past Paul Desiderio, with 1:17 remaining.

Ramirez promises to support school sports THE Philippine Sports Commission will go into discussions that will that will help strengthen the development of school sports. PSC Chairman William “Butch” Ramirez said this is in line with the agency’s efforts to deepen sports engagement among the youth. Representatives from around 140 schools, colleges, universities and athletic associations will meet with the PSC during the National Consultative Meeting for Collegiate Sports to be held at the Philsports Multipurpose Arena in Pasig City from Oct. 17 to 18. The gathering is aimed at bolstering the support for sports in the collegiate level. Ramirez has been actively campaigning for more partnerships with the Commission on Higher Education and the Department of Education. The PSC chief said this is in recognition of the unquestionable link between education and sports in the molding of a well-rounded citizen. “Remember that no less than the President has instructed us to make sports accessible to all, to involve the youth more,” said Ramirez. The meeting serves as a follow-up to the previous gathering with schoolbased athletic associations held November last year. It is hoped that from the first meeting, positive developments have opened up to allow more partnership between universities, colleges, athletic associations and the PSC. Peter Atencio

w

Phinma plans three renewable power plants B2

Business

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor business@manilastandard.net extrastory2000@gmail.com MONDAY, OCTOBER 9, 2017

B

Ilijan standoff to hike power rates IN BRIEF Suspend travel tax —Air Asia

THE Philippine unit of Southeast Asia’s largest budget airline is seeking the suspension of travel tax and terminal fees in some provincial airports for five years to entice more Filipinos to travel abroad. Philippines AirAsia President Capt. Dexter Commendador said he asked Senator Franklin Drilon to help the aviation industry to suspend the collection of travel tax amounting to P1,620 and airport terminal fee worth P500. The travel tax is a levy imposed by the government on individuals who are leaving the country irrespective of the place where the air ticket is issued and the form or place of payment. Half of the proceeds from travel tax collections will go the Tourism Infrastructure and Enterprise Zone Authority, 40 percent to the Commission on Higher Education for tourismrelated educational programs and courses, and 10 percent to National Commission for Culture and Arts. Darwin G. Amojelar

By Alena Mae S. Flores

C

ONSUMERS of Manila Electric Co. will be exposed to price volatilities at the Wholesale Electricity Spot Market, or WESM, if the government terminates the contract of San Miguel Corp. to manage the output of the 1,200-megawatt Ilijan power plant in Batangas province. San Miguel president and chief operating officer Ramon Ang said PSALM was blatantly disregarding the welfare of consumers by insisting on trading the output of the 1,200-MW Ilijan power plant in the spot market. “The Ilijan power station is used to continuously supply electricity to the grid including hours when the demand is high. If we sold to the WESM, small consumers would have to pay higher electricity bills. Even businesses, which are the largest consumer of energy, would suffer,” Ang said. Meralco, in a position paper to the case of

San Miguel subsidiary South Premiere Power Corp. against Power Sector Assets and Liabilities Management Corp., said the termination of the Ilijan IPPA “will prevent it from purchasing electricity from SPPC. Meralco will lose 1,180 MW of electricity supply from Ilijan under the terms of the Energy Regulatory Commission-approved Meralco-SPPC supply agreement, which provides cheaper electricity to Meralco’s end-users. “Meralco will have to purchase electricity from the WESM to cover for the lost 1,180 MW worth of electricity which will expose Meralco and its end-users to the price volatility of the market,” the electricity retailer said. Meralco’s PSA with SPPC covers 18.74 percent of peak power requirements in its franchise area covering at least 2.7 million households with 200 kilowatt-hours consumption a month. “This is a huge volume that has a great impact in bringing cheaper electricity to the public. PSALM’s act in terminating the Ilijan IPPA threatens to remove this benefit from the public. If Meralco is prevented from purchasing power from the Ilijan plant, this will thwart

its efforts in bringing down the electricity cost for its end-users causing serious and irreparable damage to Meralco and its consumers,” Meralco said. Ang bucked PSALM’s argument at the courts that SPPC, which manages the contracts of the Ilijan plant, should have sold its generated power to the WESM, the country’s trading floor of electricity. PSALM wanted SPPC to trade the Ilijan capacity at the WESM instead of selling ity to Meralco., especially during the contested period between November and December 2013, which the agency said could have optimized revenues from the high prices. WESM, a trading floor where power is bought or sold, has seen price spikes over the years. Ang said the Ilijan was a baseload plant that runs 24 hours a day. Its output, thus, must not be traded in the WESM to protect consumers. PSALM and San Miguel’s differing stance resulted in two different interpretations of the provisions of the independent power producer administration on how the generation payments should be computed.

Sluggish industrial production

THE manufacturing sector likely posted sluggish numbers in August due to base effects, Moody’s Analytics, a division of Moody’s Corp., said in a report over the weekend. Moody’s Analytics, which operates independently of the global credit rating watchdog Moody’s Investors Service, said the Philippines’ manufacturing output in August fell 2 percent year-on-year following a 1.1-percent decline in July. “High base effects are at play, as domestic demand is doing well and global manufacturing demand is upbeat. In August 2016, manufacturing production volumes rose by 13.4 percent, from an 11.4-percent gain in July. From June 2017 to May 2017 production averaged 9 percent year-on-year,” Moody’s said. “The peso has not provided the expected lift to exports and manufacturing yet, but rather has undesirably raised the import bill,” it said. Julito G. Rada

SteelAsia says its power cost is cheap

STEELASIA, the country’s largest rebar manufacturer, attributed the company’s competency to a low-energyconsumption technology using renewable power, dismissing claims of other industry players that high power cost was among the many deterrents to a fully competitive manufacturing sector. “While others have been expanding capacity by using obsolete technology from abroad, we have always relied on the newest and most modern equipment for our mills,” said assistant vice president for corporate communication Ma. Teresa Pacis. That has made SteelAsia both more competitive and economically viable in the long run, she said. The company’s five steel mills—two in Luzon, one in Visayas and two in Mindanao—consume over 30 million kilowatt-hours a month. Nearly three-fourths of the power supply come renewable energy sources, especially geothermal and hydropower. Othel V. Campos

Exports to Nokor restricted

THE Department of Trade and Industry Department will ask all companies planning to export and those already shipping to North Korea to undergo an accreditation process. “We follow the US policy that there should be a list of products allowed entry into North Korea,” said Trade Secretary Ramon Lopez over the weekend. The accreditation and approval system will make sure companies are complying with the protocol to export products that are allowed in accordance with the US policy. With only a handful of products exported to North Korea, the Philippines exports food as per United Nations advisory. Lopez said food exports to North Korea would continue unless a total ban is agreed upon by the US, the UN and other concerned parties. The Philippine exports agricultural products, food and garments to Korea. Othel V. Campos

Davao City Mayor Sara DuterteCarpio (right) joins the Excel Feeds team led by Philippine Foremost Milling Corp. vice president for trade feeds Terence Uygongco during the 19th Davao Agri Trade Expo.

Foremost Washington SyCip, founder of SGV & Co., dies backs call to develop agriculture By Jenniffer B. Austria

PHILIPPINE Foremost Milling Corp., one of the country’s leading flour and animal feed makers, has responded to President Duterte’s call on the private sector to help more livestock raisers, fisherfolk and farmers. PFMC officials said the company was expanding its micro-entrepreneurial program called “Pig Tiwala” to cover more areas in Luzon and benefit more hog raisers. Launched in 2016, “Pig Tiwala” provides qualified hog raisers 20 heads of piglets including hog feeds to grow them. Through the program, a hog raiser is entrusted with a value of as much as P175,000 per growing cycle. The company gets paid only upon harvest and sale of grown fatteners. On top of the seed capital, hog farmers are supplied basic vitamins, technical assistance by PFMC veterinarians and marketing support to ensure good margins. To date, “Pig Tiwala” has benefitted more than 400 hog raisers in Bulacan and Pampanga. PMFC said it would expand the program to cover Laguna, Isabela and other parts of Luzon. “We will continue this advocacy to promote the value of ‘tiwala’ and entrepreneurship to help Filipino hog farmers,” said Jojie Angeles, PFMC’s executive proponent.

WASHINGTON SyCip, an accounting guru and the founder of Philippines’ largest multi-disciplinary professional services firm SGV & Co., died Saturday while on a flight to Vancouver from Manila. He was 96 years old. “With deep sadness, the partners, principals and staff of SGV & Co. announce the passing of SGV Founder Washington SyCip on the 7th of October 2017. Mr. SyCip went quietly while on a flight to Vancouver from Manila. He was 96 years old,” SGV & Co

in a statement posted on its Facebook page. “The SyCip family requests for some private time at this moment. Information on memorial services to follow. Please pray for the eternal repose of his soul.” SyCip founded SGV in 1946 and turned it from a one-man office into the biggest professional services provider in the country today. Businessmen and friends of SyCip as well as people from all walks of like expressed their sympathy to the family of Sycip through the social media. BDO Unibank Inc. chair-

man Teresita Sy-Coson paid tribute to SyCip. “He has been highly valued adviser to the board of the directors of BDO Unibank. We will always remember his for his guidance over the years,” SyCoson said. Sycip, who founded SGV & Company and the Asian Institute of Management, remained active in the business community as board member of several corporations, including Jollibee Foods Corp., Lopez Holdings Corp., Belle Corp., Metro Pacific Investments Corp. and PAL Holdings Inc.

SyCip received numerous prestigious awards including the Lifetime Achievement Award given by the Columbia Business School in May 2010, Dr. Jose Rizal Award for Excellence (Lifetime Achievement Award for Public Service), 1992 Ramon Magsaysay Award for International Understanding, Philippine Legion of Honor, Degree of Commander conferred by the Philippine government in June 30, 1991 and Officer First Class of the Royal Order of the Polar Star awarded by His Majesty the King of Sweden in June 1987.

MPIC set to sign Leighton contract By Darwin G Amojelar A UNIT of Metro Pacific Investments Corp. said it is set to sign next month a deal with Leighton Holdings of Australia to build the Cavite side of the Cavite Laguna Expressway (Calax) Project. “We just finished the negotiation, so were scheduling the contract signing with Leighton. We plan to do the contract signing in November,” MPCala Holdings Inc. president and chief executive Luigi Bautista said. Bautista said the contract with Leighton to build the Cavite side amounted to about P7.3 billion. “By January, they will start the construction for the Cavite side of Calax,” he added. For the Laguna side of the project, MPCala tapped DM Consunji Inc., which started construction in April. Calax involves the financing, design, construction, operation and maintenance of a four-lane, 45-kilometer closed-system toll expressway connecting Cavitex and South Luzon Expressway. The P35.4-billion expressway will start from Cavitex in Kawit, Cavite and end at the SLExMamplasan Interchange in Biñan, Laguna. Aside from the P35.4 billion construction cost, MPCala paid the government a premium bid upfront of P27.3 billion. The Metro Pacific group is also constructing Segment 10 of NLEx Harbour Link, a 5.6-km elevated expressway costing P10.5 billion and running from Valenzuela City to C3 in Caloocan City. The project is expected to be completed in the second half of 2017. Metro Pacific Tollways Corp. earlier signed a joint venture agreement with the city of Cebu and the municipality of Cordova in April 2016 to build the P27.9-billion Cebu-Cordova Bridge project.

FDA assures fair contraceptives review THE Food and Drugs Administration assured the public that the evaluation and reevaluation of contraceptives, including those covered by a Supreme Court order, “is aboveboard and transparent.” The agency said the results of the process “will be fully compliant with the standards set by the High Court.” FDA director-general Nela Charade Puno made the assurance as the agency nears the completion of the review in line with the certification and recertification of some 50 contraceptives. Several of these contraceptives are covered by an SC order for recertification following a petition by a civic group.

The SC ordered the recertification of the contraceptives to obtain a conclusive finding of whether or not they can cause or induce abortion. Puno said the evidences submitted by various groups either to support or oppose the approval of the contraceptives “have been strongly considered and evaluated in this process.” “We are grateful for the interest and the productive participation of these civic groups in the process,” Puno said. She added the input given by these groups “have ensured that the results of the certification and recertification processes will have solid technical and scientific bases.” The FDA urged groups

interested in submitting input for the certification and recertification process to provide the agency with evidence. The interested parties were given 10 days to submit their input and were informed of the process that the FDA would follow in the evaluation and review of the contraceptives concerned. Puno also clarified the FDA was strictly following the standards set by the High Court as contained in the latter’s decision in a related court case. “We will make sure that the results of the technical and scientific processes to evaluate and reevaluate these contraceptives will be made accessible to the public,” Puno said.

CYBER FORUM. Malayan Insurance, the leading non-life insurer in the Philippines, concludes the 2017 Cyber Forum. Held at the Fairmont Hotel in Makati, City, the two-day event featured discussions by experts in information technology and cyber security. 2017 marks the second run of the Malayan Insurance Cyber Forum, following its successful pilot last year. Key speakers such as Shan Sagoo (right), director of financial solutions of Asia Reinsurance Brokers, and Stephen Cheong, director of Asia Reinsurance Brokers, stress the need to be proactive with protection by securing cyber insurance.

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Business

MONDAY,OCTOBER 9, 2017 extrastory2000@gmail.com

PLDT aviation unit goes into charter flight service By Darwin G Amojelar PACIFIC Global One, the aviation arm of PLDT, said it opened a charter flight service to take advantage of the rising demand for travel on private aircraft both for leisure and business. “With the rise in demand for tourism and business travel, Pacific Global One is positioned to capture this niche for charter flights,” Butch Meily, Pacific Global One president and chief operating officer said. “With our new service, Pacific Global One can now provide private flights to Balesin in Quezon, Amanpulo in Pamalican Island, Baguio in the north and Boracay in Panay, among other routes,” he added. Pacific Global One will initially offer two aircraft including the Beechcraft Super King Air 350—a

turboprop twin which can accommodate eight passengers with two pilots. Running at a flight speed of 250 knots, the King Air 350 can fly for five hours. The other aircraft is the Bell 429 helicopter which has a five-seat capacity. With a full tank, the helicopter can fly for three hours. All aircraft are capable of flight in all-weather conditions and are air-conditioned. Manned by seasoned pilots who are former Philippine Air Force and Navy veterans as well as a Canadian flyer, Pacific Global One flies all over the Philippines. “The rates we offer for our charter flights are very competitive. We also open our doors to small groups who need an affordable, reliable, and accessible transportation to go to various destinations nationwide—whether for work or leisure,” Meily added.

Phinma Energy plans 3 renewable power plants By Alena Mae S. Flores

P

HINMA Energy Corp. is pursuing three new renewable energy projects that will deliver around 120 megawatts of new capacity, its top executive said over the weekend.

“We are proceeding with the development. The project development activities are moving,” Phinma Energy president Francisco Viray said. He said the company plans to complete the projects by 2019. “By 2019, it will be DOC (declaration of commerciality). Actually, implementation is contingent on

the bilateral contracts,” Viray said. The three projects include the 45MW solar project in Batangas, another 45-MW solar station in Pangasinan and a 30-MW hydro plant in Negros island. Phinma Energy recently announced it signed a solar energy service contract with the Energy Department for the exclusive right

to explore, develop and utilize the solar energy resource in a 486-hectare area in the Lipa City and municipality of Padre Garcia in Batangas province. The company disclosed in July that it received the service contract for a 45-MW solar power plant on a 648-hectare area in the municipality of Bugallon, Pangasinan province. The solar projects will further diversify the Phinma Energy’s portfolio of renewable energy projects. “Bugallon is our first venture into solar energy, and this service contract is in time for the

MANILA STANDARD BUSINESS WEEKLY STOCKS REVIEW STOCKS

OCTOBER 2-6, 2017 Close Volume

AG Finance Asia United Bank Banco de Oro Unibank Inc. Bank of PI China Bank BDO Leasing & Fin. INc. Bright Kindle Resources Citystate Savings COL Financial Eastwest Bank Filipino Fund Inc. First Abacus I-Remit Inc. Manulife Fin. Corp. MEDCO Holdings Metrobank Natl. Reinsurance Corp. PB Bank Phil Bank of Comm Phil. National Bank Phil. Savings Bank Philippine trust Co. PSE Inc. RCBC `A’ Security Bank Sun Life Financial Union Bank Vantage Equities

4.55 59.75 133.30 101.60 36 4.02 2.77 9.1 15.98 32.2 9.00 0.68 1.71 945.00 0.700 89 0.86 13 25.00 57.40 88 115 240 48 248.2 1900.00 86.60 1.34

436,000 82,850 14,563,370 5,868,950 1,000,800 2,873,000 20,881,000 800 90,700 8,569,100 10,700 310,000 218,000 1,800 9,031,000 8,589,120 870,000 138,900 9,900 372,580 12,610 22,730 10,850 440,400 1,961,130 1,710 531,030 2,504,000

Aboitiz Power Corp. Agrinurture Inc. Alliance Tuna Intl Inc. Alsons Cons. Asiabest Group Basic Energy Corp. Bogo Medelin C. Azuc De Tarlac Cemex Holdings Century Food Chemphil Conc. Aggr. ‘A’ Cirtek Holdings (Chips) Concepcion Crown Asia Da Vinci Capital Del Monte DNL Industries Inc. Eagle Cement Emperador Energy Devt. Corp. (EDC) EEI Euro-Med Lab First Gen Corp. First Holdings ‘A’ Ginebra San Miguel Inc. Holcim Philippines Inc. Integ. Micro-Electronics Ionics Inc Jollibee Foods Corp. Liberty Flour LMG Chemicals Mabuhay Vinyl Macay Holdings Manila Water Co. Inc. Maxs Group Megawide Mla. Elect. Co `A’ MG Holdings Panasonic Mfg Phil. Corp. Pepsi-Cola Products Phil. Petron Corporation Petroenergy Res. Corp. Phil H2O Pilipinas Shell Phinma Corporation Phinma Energy Phoenix Petroleum Phils. Pryce Corp. `A’ RFM Corporation Roxas Holdings San Miguel ‘Pure Foods `A’ SFA Semicon Shakeys Pizza SPC Power Corp. Swift Foods, Inc. TKC Steel Corp. Universal Robina Victorias Milling Vitarich Corp. Vivant Corp. Vulcan Ind’l.

41.5 10.32 0.78 1.39 19.82 0.230 127 20.20 5.45 16 165.2 74 42 68 1.92 7 11.5 10.040 15.02 7.26 5.67 13.80 1.6 19.02 66.95 14.30 12.40 18.88 1.890 242.20 57.05 6 3.1 21.25 31.65 19.92 17.76 285.20 0.222 11.50 3 10.24 6.80 6.05 68 9.88 1.78 12.04 6.56 4.62 4.4 308 2.66 13.5 4.68 0.143 1.27 150.9 3.5 2.09 26.00 0.97

7,768,000 10,661,500 4,588,000 4,334,000 19,900 11,330,000 3,000 23,200 36,269,400 9,668,600 90 6,110 3,133,000 1,392,890 1,770,000 5,071,200 298,600 39,755,300 2,322,500 2,760,200 163,852,600 2,366,800 575,000 14,806,500 1,690,310 3,838,400 526,400 14,137,300 4,994,000 3,861,200 400 7,429,900 211,000 15,200 11,644,300 939,000 31,539,200 2,503,190 2,080,000 1,989,100 12,067,000 5,224,100 301,100 270,100 4,754,650 187,300 7,540,000 2,530,200 740,200 858,000 109,000 29,610 1,776,000 5,375,000 103,000 1,330,000 1,453,000 4,296,460 229,000 9,884,000 8,500 1,769,000

Abacus Cons. `A’ Aboitiz Equity Alliance Global Inc. Anglo Holdings A Anscor `A’ ATN Holdings A ATN Holdings B Ayala Corp `A’ Cosco Capital DMCI Holdings F&J Prince ‘A’ Filinvest Dev. Corp. Forum Pacific GT Capital House of Inv. JG Summit Holdings Jolliville Holdings Keppel Holdings `A’ Keppel Holdings `B’ Lopez Holdings Corp. Lodestar Invt. Holdg.Corp. LT Group Mabuhay Holdings `A’ Metro Pacific Inv. Corp. MJCI Investments Inc. Pacifica `A’ Prime Media Hldg Prime Orion San Miguel Corp `A’ Seafront `A’ SM Investments Inc. Solid Group Inc. South China Res. Inc. Transgrid Top Frontier Unioil Res. & Hldgs Wellex Industries Zeus Holdings

0.345 73.50 16.90 1.11 6.99 0.350 0.355 1015 8.45 15.80 5.03 7.80 0.201 1218 7.64 76.70 5.69 5.06 5.42 5.73 0.87 17.94 0.405 6.88 3.2 0.0560 1.330 2.100 100.00 2.59 911.00 1.43 0.90 190.20 295.400 0.2700 0.1910 0.227

1,680,000 5,545,230 51,615,100 722,000 390,300 86,460,000 4,820,000 1,473,890 14,925,200 46,904,500 391,800 205,300 290,000 736,185 59,300 4,892,700 11,000 4,900 2,100 5,525,100 2,987,000 9,477,900 10,000 91,316,300 63,000 424,790,000 2,629,000 479,000 3,745,370 196,000 2,163,000 1,319,000 331,000 460 36,790 1,810,000 5,160,000 4,180,000

8990 HLDG Anchor Land Holdings Inc. A. Brown Co., Inc. Araneta Prop `A’ Arthaland Corp. Ayala Land `B’ Belle Corp. `A’ Cebu Holdings CEB Landmasters 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’ Keppel Properties Megaworld MRC Allied Ind.

4.950 9.00 1.10 2.390 1.120 42.900 3.79 5.4 5.03 0.510 1.31 1.300 0.223 0.480 43.65 0.700 0.144 1.56 2.01 0.90 4.16 5.28 0.350

2,954,900 247,600 79,143,000 848,000 61,580,000 59,066,000 5,606,000 118,400 10,779,400 109,673,000 2,635,000 5,486,000 287,820,000 4,960,000 3,918,100 38,195,000 6,830,000 34,736,000 88,236,600 2,302,000 7,000 101,487,900 191,210,000

Value FINANCIAL 1,988,630.00 4,941,158.50 1,945,868,732.00 596,061,144.00 35,843,805.00 11,312,130.00 58,947,190.00 7,280.00 1,447,016.00 282,979,565.00 90,591.00 201,710.00 373,210.00 1,712,750.00 6,234,780.00 763,293,292.00 736,440.00 1,808,840.00 246,775.00 21,676,183.00 1,109,065.00 2,605,822.00 2,593,970.00 21,455,990.00 487,458,118.00 3,247,395.00 45,951,082.50 3,314,780.00 INDUSTRIAL 329,892,615.00 109,128,073.00 3,540,450.00 6,059,940.00 391,092.00 2,620,040.00 347,527.00 465,642.00 176,143,777.00 159,007,924.00 14,980.00 448,185.00 130,720,865.00 90,653,078.50 3,455,570.00 34,879,367.00 3,420,484.00 401,762,690.00 34,966,888.00 19,924,842.00 924,334,092.00 32,310,198.00 925,700.00 284,939,678.00 114,042,845.00 54,888,878.00 6,528,298.00 273,322,151.00 9,524,720.00 935,295,176.00 23,869.50 94,848,675.00 663,300.00 354,710.00 359,834,400.00 18,775,603.00 534,295,888.00 713,356,742.00 464,530.00 23,385,216.00 36,186,240.00 53,924,146.00 2,046,639.00 1,599,844.00 317,193,546.00 1,840,083.00 13,375,240.00 30,345,638.00 4,853,430.00 3,904,680.00 479,710.00 9,670,070.00 4,775,030.00 71,795,660.00 472,320.00 188,190.00 1,768,130.00 656,258,675.00 798,800.00 20,771,670.00 222,490.00 1,722,360.00 HOLDING FIRMS 587,100.00 412,950,696.50 859,761,120.00 748,630.00 2,728,745.00 7,025,750.00 1,736,800.00 1,469,789,205.00 125,909,238.00 737,659,376.00 1,975,682.00 1,593,578.00 58,860.00 894,391,260.00 462,028.00 377,325,639.00 54,380.00 24,739.00 11,382.00 32,727,631.00 2,574,590.00 168,803,556.00 4,050.00 628,973,929.00 201,860.00 23,406,780.00 3,538,040.00 1,008,030.00 212,027,768.50 510,860.00 1,957,024,405.00 1,884,300.00 284,300.00 88,378.00 10,788,928.00 490,000.00 989,520.00 914,030.00 PROPERTY 14,695,761.00 2,163,806.00 86,528,330.00 2,002,330.00 69,795,920.00 2,567,712,240.00 21,438,080.00 630,054.00 54,725,213.00 56,973,190.00 3,593,260.00 7,427,130.00 66,114,380.00 2,330,100.00 168,249,910.00 26,069,670.00 991,560.00 54,189,380.00 201,522,030.00 2,080,670.00 29,110.00 539,217,923.00 67,955,450.00

SEPTEMBER 25-29, 2017 Close Volume Value 4.58 59.3 130.00 99.45 35.35 130.70 2.90 10 15.92 32.45 8.04 0.69 1.72 945.00 0.700 86.5 0.89 13.02 25.00 59.15 87.9 140 240 49.6 243.2 1888.00 86.65 1.28

551,000 48,730 10,360,960 12,494,100 503,200 1,785,380 66,517,000 600 56,100 4,561,200 53,100 70,000 161,000 1,720 9,798,000 8,426,850 2,780,000 242,100 7,300 305,790 10,590 7,130 26,390 377,900 3,954,500 685 1,055,890 520,000

2,662,790.00 2,894,815.00 1,344,131,894.00 1,247,252,807.50 17,878,140.00 231,601,902.00 190,844,730.00 5,902.00 901,830.00 145,203,185.00 457,699.00 46,370.00 269,990.00 1,604,780.00 6,797,310.00 734,168,127.50 2,346,780.00 3,157,882.00 181,530.00 18,310,472.00 931,467.00 902,706.00 6,298,280.00 18,404,711.00 984,711,538.00 1,252,730.00 91,382,131.50 664,280.00

42.85 9.9 0.77 1.41 19.72 0.225 120 20.05 5.03 16.9 168 75 40.8 68.85 1.93 6.44 12 10.100 15.12 7.24 5.62 13.92 1.65 18.92 67.95 14.00 12.42 18.6 1.850 243.80 57.05 4.5 3.34 23.35 30.85 20.15 16.1 283.00 0.227 13.54 2.98 10.48 6.80 6.1 68 9.90 1.76 12.30 6.6 4.50 4.4 309.6 2.62 13.06 4.5 0.143 1.26 152.8 3.56 2.08

8,691,000 11,556,900 6,476,000 4,556,000 394,200 9,740,000 2,650 185,200 31,881,000 6,637,300 330 7,890 2,857,400 6,985,810 1,156,000 2,416,900 332,400 21,513,400 4,965,100 2,621,300 786,336,200 4,941,100 484,000 12,656,700 818,940 134,100 303,000 14,891,300 4,037,000 3,152,550 9,530 7,622,200 96,000 12,200 5,788,400 1,919,500 18,727,300 2,049,530 8,710,000 1,354,000 631,000 11,982,700 473,600 579,300 978,070 343,900 5,702,000 3,642,400 448,000 396,000 432,000 23,590 5,074,000 4,348,200 1,097,000 14,510,000 1,822,000 5,885,740 42,000 34,096,000

367,392,455.00 109,416,599.00 5,072,740.00 6,333,710.00 7,672,697.00 2,197,490.00 307,838.00 3,917,613.00 168,486,780.00 112,399,350.00 54,615.00 599,255.50 109,876,435.00 454,049,608.00 2,225,600.00 15,463,440.00 3,880,742.00 218,050,250.00 74,686,548.00 18,804,647.00 4,108,729,296.00 69,374,214.00 803,390.00 234,419,332.00 54,741,486.50 1,877,676.00 3,803,948.00 273,355,904.00 7,290,260.00 770,529,020.00 570,795.00 37,853,268.00 315,210.00 277,430.00 178,181,740.00 37,108,944.00 297,785,650.00 570,597,286.00 1,972,490.00 18,718,778.00 1,872,700.00 123,486,694.00 3,207,683.00 3,684,536.00 66,590,845.00 3,426,368.00 10,097,850.00 45,023,512.00 2,979,467.00 1,733,800.00 1,899,660.00 7,308,196.00 13,744,170.00 57,320,874.00 4,939,060.00 2,061,790.00 2,337,650.00 888,463,685.00 154,870.00 72,482,720.00

0.99

908,000

888,400.00

0.355 73.30 16.04 1.05 6.97 0.360 0.380 970 8.48 15.60 5.45 7.83 0.200 1161 7.64 75.00 4.89 5.04 5.42 6.04 0.88 17.58 0.400 6.7 3.5 0.0490 1.540 2.150 98.30 2.61 883.00 1.44 0.92

4,430,000 8,503,170 61,674,500 2,637,000 205,000 54,770,000 13,510,000 1,493,050 6,922,600 51,490,800 757,400 220,800 2,140,000 669,600 110,200 8,716,570 80,200 6,800 100 6,296,900 3,088,000 11,124,500 480,000 124,051,100 99,000 62,200,000 9,413,000 1,404,000 1,667,220 235,000 3,079,640 4,518,000 253,000

1,542,100.00 627,617,958.00 1,003,845,130.00 2,783,770.00 1,422,795.00 19,567,800.00 4,974,550.00 1,445,520,720.00 58,468,396.00 808,861,800.00 4,374,862.00 1,702,314.00 429,280.00 785,495,830.00 846,033.00 674,901,859.50 396,120.00 34,352.00 542.00 39,551,410.00 2,692,380.00 192,169,014.00 192,550.00 834,731,586.00 344,700.00 2,996,000.00 14,032,340.00 2,906,260.00 162,678,753.50 616,330.00 2,699,991,085.00 6,463,350.00 232,760.00

292.600 0.2800 0.1930 0.214

78,420 1,770,000 3,850,000 2,940,000

22,892,204.00 485,950.00 754,640.00 634,590.00

5.000 9.60 1.11 2.450 1.040 43.500 3.76 5.3 5.07 0.520 1.35 1.480 0.234 0.480 40 0.690 0.147 1.51 2.03 0.91

3,374,300 179,900 79,452,000 2,141,000 12,848,000 74,565,800 4,592,000 189,100 18,956,500 70,083,000 3,232,000 1,465,000 945,530,000 8,830,000 2,046,300 4,227,000 4,210,000 30,015,000 164,229,000 6,171,000

16,864,851.00 1,741,577.00 91,900,710.00 5,252,380.00 13,314,910.00 3,256,290,285.00 17,358,160.00 1,013,560.00 100,666,343.00 35,831,800.00 4,331,350.00 2,170,840.00 242,134,210.00 4,215,600.00 83,249,940.00 2,875,040.00 618,210.00 45,306,410.00 333,645,450.00 5,566,540.00

5.23 0.340

202,221,500 365,460,000

1,049,765,330.00 120,110,000.00

STOCKS

OCTOBER 2-6, 2017 Close Volume

Phil. Estates Corp. Phil. Realty `A’ Phil. Tob. Flue Cur & Redry Primex Corp. Robinson’s Land `B’ Rockwell Shang Properties Inc. SM Prime Holdings Sta. Lucia Land Inc. Starmalls Suntrust Home Dev. Inc. Vista Land & Lifescapes

0.4800 0.490 30.00 6.61 26.10 1.81 3.19 34.65 1.06 7.45 0.880 6.320

2GO Group’ ABS-CBN Acesite Hotel APC Group, Inc. Apollo Global Asian Terminals Inc. Berjaya Phils. Inc. Bloomberry Boulevard Holdings Cebu Air Inc. (5J) Centro Esc. Univ. Chelsea Discovery World DFNN Inc. FEUI Globe Telecom GMA Network Inc. Golden Haven Grand Plaza Hotel Harbor Star I.C.T.S.I. Imperial Res. `A’ IPeople Inc. `A’ IPM Holdings Island Info ISM Communications Jackstones LBC Express Leisure & Resorts Lorenzo Shipping Macroasia Corp. Manila Broadcasting Manila Bulletin Manila Jockey Melco Crown Metro Retail NOW Corp. Pacific Online Sys. Corp. PAL Holdings Inc. Paxys Inc. Phil. Racing Club Phil. Seven Corp. Philweb.Com Inc. PLDT Common PremiereHorizon Premium Leisure Puregold Robinsons RTL SBS Phil. Corp. SSI Group STI Holdings Transpacific Broadcast Travellers Waterfront Phils. Wilcon Depot

19.92 40.6 1.71 0.550 0.051 11 5.09 10.50 0.0720 107 9 9.94 2.2 8.00 1000 2070 6.05 18.90 2.52 2.49 105.8 2.98 11.84 8.36 0.162 1.3700 3.22 15.98 4.30 1.28 15.28 18.60 0.560 3.1 7.5 4.25 2.450 11.02 5.10 2.88 8.36 170.00 9.50 1705.00 0.395 1.500 54.55 106.00 6.30 4.18 1.550 2.2 4.1 1.220 8.600

Abra Mining Apex `A’ Atlas Cons. `A’ Atok-Big Wedge `A’ Benguet Corp `A’ Benguet Corp `B’ Century Peak Metals Hldgs Coal Asia Dizon Ferronickel Geograce Res. Phil. Inc. Lepanto `A’ Lepanto `B’ Manila Mining `A’ Manila Mining `B’ Marcventures Hldgs., Inc. Nickelasia Nihao Mineral Resources Omico Oriental Peninsula Res. Oriental Pet. `A’ Oriental Pet. `B’ Philex `A’ PhilexPetroleum Philodrill Corp. `A’ Phinma Petro Semirara Corp. United Paragon

0.0025 1.85 4.94 15.98 1.9500 1.9900 1.6 0.380 8.57 2.800 0.255 0.192 0.202 0.011 0.0110 1.94 7 1.72 0.5200 1.0400 0.0130 0.0130 8.05 8.08 0.0120 2.6000 46.00 0.0075

ABS-CBN Holdings Corp. Ayala Corp. Pref `B1’ Ayala Corp. Pref ‘B2’ Alco Preferred B DD PREF First Gen F First Gen G GLOBE PREF P GMA Holdings Inc. GTCAP PREF A GTCAP PREF B Leisure and Resort MWIDE PREF PCOR-Preferred A PCOR-Preferred B PF Pref 2 PNX PREF 3A PNX PREF 3B SMC Preferred B SMC Preferred C SMC Preferred D SMC Preferred E SMC Preferred F SMC Preferred G SMC Preferred H SMC Preferred I Swift Pref

40.45 530 530 107 106 108 118.7 540.5 5.75 1040 1030 1.06 110 1065 1175 1014 105 109.5 75.5 80.5 76 78.1 80.25 78.2 78.5 80 1.96

LR Warrant

2.550

Makati Fin. Corp. Italpinas Philab Holdings Xurpas

2.88 4.98 4.7 5.66

First Metro ETF

126.3

USD DMPL A1

10.9

SEPTEMBER 25-29, 2017 Close Volume Value

Value

31,540,000 11,680,000 1,600 16,062,500 11,634,700 1,181,100 671,000 40,482,400 17,159,000 17,600 790,000 6,768,400

14,837,900.00 5,713,700.00 48,000.00 105,810,475.00 304,766,560.00 2,911,060.00 2,125,010.00 1,415,372,010.00 18,273,640.00 131,104.00 685,910.00 42,825,465.00 SERVICES 246,000 4,919,898.00 148,900 6,047,620.00 1,228,000 2,128,730.00 14,095,000 9,399,990.00 1,567,500,000 76,087,100.00 120,600 1,329,404.00 16,500 83,880.00 45,890,500 490,975,740.00 122,870,000 8,912,930.00 807,350 84,910,808.00 45,500 407,384.00 4,653,500 46,554,508.00 50,000 112,560.00 655,300 5,174,208.00 25 25,000.00 171,345 353,761,030.00 1,881,700 11,363,354.00 559,600 10,009,376.00 1,223,000 3,058,070.00 5,427,000 13,050,180.00 6,731,510 707,188,911.00 1,946,680 190,625,274.00 82,300 981,196.00 1,727,600 14,490,802.00 15,610,000 2,505,330.00 3,326,000 4,659,950.00 170,000 529,370.00 49,600 778,338.00 1,939,000 8,195,810.00 5,868,000 7,855,190.00 18,379,400 277,103,310.00 7,800 140,580.00 333,000 186,190.00 6,550,000 19,777,100.00 41,686,000 321,263,698.00 11,225,000 47,411,360.00 3,042,000 7,276,300.00 7,700 85,340.00 32,400 164,535.00 50,000 144,660.00 81,000 656,440.00 14,360 2,430,860.00 4,909,800 47,386,762.00 447,835 755,916,915.00 1,480,000 585,700.00 74,758,320 55,696,820.00 11,463,670 620,674,672.50 7,137,810 734,683,966.50 6,446,500 40,023,294.00 13,666,000 57,773,020.00 13,357,500 23,674,330.00 53,000 110,450.00 33,112,000 136,397,190.00 54,962,000 66,079,450.00 13,675,000 119,264,414.00 MINING & OIL 1,436,000,000 3,715,600.00 97,851,000 182,557,970.00 3,408,000 16,821,770.00 102,400 1,677,666.00 471,000 922,890.00 720,000 1,359,420.00 18,907,000 29,556,060.00 3,830,000 1,463,700.00 44,400 373,453.00 97,989,000 277,422,000.00 5,590,000 1,425,600.00 137,660,000 26,539,200.00 23,620,000 4,730,540.00 169,800,000 1,715,000.00 129,600,000 1,425,600.00 1,749,000 3,476,410.00 12,094,500 82,838,804.00 360,000 605,510.00 527,000 272,260.00 2,282,000 2,338,200.00 237,800,000 3,018,800.00 145,800,000 1,794,500.00 3,999,900 32,598,348.00 118,387,500 909,326,158.00 310,600,000 3,727,300.00 403,000 1,041,010.00 5,930,000 272,658,935.00 46,000,000 353,600.00 PREFERRED 323,100 13,073,980.00 3,180 1,679,940.00 3,830 2,014,505.00 25,100 2,680,700.00 80,660 8,560,162.00 10,320 1,118,658.00 80,020 9,442,374.00 10,150 5,482,455.00 1,269,200 7,313,434.00 10,510 10,930,370.00 3,840 3,955,200.00 95,000 100,210.00 5,510 595,130.00 4,720 5,027,380.00 40 47,045.00 10,180 10,325,440.00 2,640 275,010.00 1,580 172,686.00 139,460 10,467,341.50 426,570 34,343,661.50 40,960 3,115,825.00 55,410 4,327,407.00 175,670 14,150,097.00 25,170 1,975,861.00 2,078,050 162,578,120.00 206,300 16,387,500.00 1,000 1,960.00 WARRANTS & BONDS 1,024,000 2,580,400.00 SME 6,000 17,280.00 12,619,200 63,425,770.00 273,000 1,274,540.00 3,727,800 21,632,231.00 EXCHANGE TRADED FUNDS 84,640 10,644,922.00 DOLLAR DENONIMATED SEC. 3,900 43,010.00

0.4750 0.470

32,678,000 13,466,300

16,150,955.00 11,360,453.00

6.2 25.30 1.8 3.2 34.45 1.04 7.52 0.870 6.360

8,752,900 10,840,600 7,779,000 1,912,000 52,254,400 7,216,000 600 412,000 15,452,900

52,892,753.00 279,759,945.00 13,924,740.00 6,022,790.00 1,816,297,335.00 7,486,170.00 4,189.00 354,210.00 96,632,967.00

19.86 40.6 1.67 0.550 0.042 10.84 5.4 10.70 0.0710 109.7 9.07 10.2 2.15 8.20 1000 2050 6.02 16.60 13.32 2.42 104 2.92 11.96 8.40 0.157 1.3300 3.02 15.86 4.25 1.34 15.18 18.00 0.550 3.02 7.58 4.26 2.340 11.14 5.05 2.86 9.15 170.00 9.64 1668.00 0.395 1.610 52.15 99.00 5.99 4.26 1.520 2.09 3.85 1.220 8.900

535,900 112,500 23,954,000 17,824,000 239,000,000 24,500 45,800 78,945,600 80,160,000 878,280 93,700 14,202,000 21,000 8,257,800 5 173,500 2,877,700 335,300 300 11,545,000 6,621,420 354,000 10,400 1,702,500 41,999,000 2,092,000 886,000 95,800 8,608,000 8,971,000 26,219,950 12,500 390,000 16,530,000 40,830,400 4,578,000 8,242,000 10,800 182,800 43,000 36,900 47,800 7,020,900 726,870 5,140,000 47,327,000 10,257,950 25,224,980 208,200 18,439,000 34,896,000 46,000 8,237,000 111,445,000 21,549,200

10,813,525.00 4,564,590.00 46,233,590.00 10,109,510.00 9,624,800.00 277,940.00 239,388.00 826,909,659.00 5,727,370.00 94,845,393.00 843,938.00 142,195,565.00 45,990.00 55,453,592.00 5,000.00 355,157,530.00 17,387,812.00 5,475,264.00 3,996.00 28,732,810.00 686,935,444.00 1,021,640.00 124,564.00 14,256,189.00 6,843,630.00 2,747,160.00 2,727,210.00 1,533,154.00 37,470,370.00 11,759,190.00 496,075,240.00 228,338.00 214,500.00 48,309,810.00 313,175,808.00 19,436,900.00 19,569,650.00 120,206.00 922,846.00 131,310.00 308,070.00 8,057,604.00 67,240,749.00 1,180,685,395.00 2,034,000.00 75,410,030.00 523,870,602.00 2,511,011,156.00 1,225,997.00 80,076,340.00 52,279,390.00 93,560.00 31,929,870.00 139,285,860.00 189,093,504.00

0.0025 1.83 4.70 16.00 2.0000 2.0400 1.55 0.390 8.63 2.790 0.265 0.181 0.189 0.010 0.0110 1.92 6.6 1.67 0.5100 1.0500 0.0120 0.0120 8.33 7.50 0.0120 2.6500 46.70 0.0077

971,000,000 454,874,000 4,959,000 307,100 454,000 176,000 52,320,000 1,950,000 200,600 72,764,000 3,150,000 27,200,000 2,780,000 215,200,000 19,300,000 1,801,000 30,111,600 379,000 663,000 4,197,000 466,000,000 22,000,000 4,065,900 173,687,300 403,300,000 441,000 8,127,300 299,000,000

2,465,300.00 928,980,300.00 23,145,660.00 5,418,308.00 899,600.00 356,670.00 79,926,670.00 758,750.00 1,758,431.00 201,288,240.00 821,900.00 4,898,260.00 531,080.00 2,187,500.00 213,300.00 3,540,450.00 205,415,253.00 649,360.00 1,158,750.00 4,305,580.00 5,642,500.00 296,600.00 34,276,375.00 1,474,476,164.00 4,862,600.00 1,129,860.00 372,460,835.00 2,332,500.00

40.5 526.5 530 106.5 105.6 109.1 112.7 539 5.75 1039 1030 1.06 110 1065

501,700 6,160 32,340 1,420 25,640 7,950 9,200 8,110 1,511,800 1,600 29,885 401,000 203,480 17,865

20,350,305.00 3,241,240.00 16,979,200.00 151,230.00 2,713,788.00 847,262.00 1,054,900.00 4,291,790.00 8,703,683.00 1,652,420.00 30,780,450.00 421,880.00 22,336,740.00 9,441,225.00

1016 103.5 109 75.2 80.6 76 78.1 81 78.5 77.8 80 1.96

6,160 650 44,280 174,700 830,140 25,410 68,180 144,040 14,350 344,580 109,320 4,000

6,253,760.00 67,566.00 4,998,424.00 13,077,435.00 66,753,060.00 1,930,030.00 5,322,664.00 11,666,081.00 1,127,725.00 27,159,880.00 8,667,312.50 7,830.00

2.540

2,405,000

6,277,950.00

2.89 4.45 4.67 5.94

5,000 1,729,000 385,000 8,450,300

14,540.00 7,409,500.00 1,793,170.00 47,354,545.00

124.8

40,460

5,023,965.00

11

6,400

70,300.00

WEEKLY MOST TRADED STOCKS Apollo Global Abra Mining Pacifica `A’ Philodrill Corp. `A’ Crown Equities Inc. Oriental Pet. `A’ MRC Allied Ind. Manila Mining `A’ Energy Devt. Corp. (EDC) Oriental Pet. `B’

VOLUME 1,567,500,000 1,436,000,000 424,790,000 310,600,000 287,820,000 237,800,000 191,210,000 169,800,000 163,852,600 145,800,000

STOCKS Ayala Land `B’ SM Investments Inc. Banco de Oro Unibank Inc. Ayala Corp `A’ SM Prime Holdings Jollibee Foods Corp. Energy Devt. Corp. (EDC) PhilexPetroleum GT Capital Alliance Global Inc.

VALUE 2,567,712,240.00 1,957,024,405.00 1,945,868,732.00 1,469,789,205.00 1,415,372,010.00 935,295,176.00 924,334,092.00 909,326,158.00 894,391,260.00 859,761,120.00

opportunities created by the renewable portfolio standards,” Viray said earlier. Phinma Energy’s Ilog hydro power project, meanwhile, is located in Mabinay, Negros Oriental. The company also plans to develop nearly 1,000 MW of liquefied natural gas power plants. Phinma Energy currently has a diversified power portfolio that includes geothermal, coal, wind and diesel power plants. Phinma Energy owns a 45 percent stake in South Luzon Thermal Energy Corp., which operates a 270 megawatt coal-fired power plant in Batangas and an interest in the Maibarara geothermal power project, also in Batangas. The company also owns the 54-megawatt wind project in Guimaras, Iloilo and a 116-MW diesel power plant in Subic Bay. The company, in addition, owns power barges 101, 102 and 103 with a combined capacity of 96 MW. Phinma Energy is an integrated power company of the Phinma Group engaged in power generation and electricity supply, and wind and energy resource development. It provides reliable and sustainable energy to customers and host communities.

SM set to open 2 new malls this year By Jenniffer B. Austria SM Prime Holdings Inc., the country’s leading shopping mall operator and developer, plans to open two more malls in the Philippines before the end of the year, bringing its total outlets to 66 with eight million square meters of retail space. SM Prime chief finance officer John Ong said in an interview at the sidelines of the COL Financial Property Market briefing the company would launch next week SM Center Tuguegarao Downtown in the Cagayan Valley region. The mall will have 30,000 sq. m. of gross retail space. Ong said the company will also launch SM Lemery in Batangas province by December, bringing the group’s total mall openings this year to six. SM Prime this year launched SM CDO Downtown Premier in Cagayan de Oro, S Maison at Conrad Manila in Pasay City, SM Cherry Antipolo in Rizal and SM City Puerto Princesa in Palawan. Ong said the company remained on track with its five-year plan of establishing a combined 10.5 million sq. m. of retail space from mall operations both here and in China starting in 2013. SM Prime operates seven malls in China with 1.3 million sq. m. of retail space. Its biggest mall in China is SM Tianjin offering 540,000 sq. m. of retail space. It had a soft opening in in December 2016. Ong said the company would open the second phase of Tianjin after the first phase, which offered roughly 180,000 sq. m. of retail space, was nearly 90 percent leased out to tenants.

Business/World My experience in Bahay Aruga THERE are numerous studies that say cancer ANDRELIZA as a disease is just a BARTOLOME myth. But I know it REEN IGHT is real. Western medicines provided treatments such as chemotherapy and radiotherapy to fight cancer. These treatments are expensive and only a few could afford them. In the Philippines, the Philippine General Hospital (PGH) is one of the government institutions that provide low cost and free medications to the Filipino citizens. It has the best doctors and the most advanced medicine equipment in the country. A haven for children Numerous people from different walks of life around the Philippine archipelago seek medication and treatment for different kinds of diseases in PGH. However, a large percentage of patients come from below the level of decent living conditions. Most come to Manila to seek treatment, but have no options for housing for the duration of the treatment. Bahay Aruga is a haven for children with cancer. It offers free boarding for children with cancer and their parents seeking treatment in PGH. As part of our service learning activity, we visited this haven. Upon our arrival in Bahay Aruga, the children and the parents received us graciously. They have a million dollar smile that no one could afford. A positive outlook I have the chance to converse with some parents who had the same ordeal as ours. My husband was diagnosed last year with Glioblastoma IV brain cancer and currently he is taking up his chemotherapy treatments. One might feel sorry for what is happening to people with cancer, but apparently the patients see it the other way. You could see in the children faces their simple joy and happiness. They are very energetic and have a positive outlook in life. There is a famous song from a soft drink company that was launched in 1987 titled ”Tomorrow’s People.” What struck me are the lines in the song: “I am the future of the world, I am the hope of my nation, I am tomorrow’s people.” These children are the future and our hope. However we must accept the fact that due to drastic changes in lifestyles, younger people are getting sick. However, the hopes and dreams of being a child will not banish. The children in Bahay Aruga have their ambitions of becoming a doctor, a teacher, or an engineer. Cancer does not deter them to dream and achieve their goals in life. I believe that there is still a good future that we could look at ahead. It is never too late to change our ways but it should start from within us. I have learned that cancer is not the end of the world. However, it is a start of something new. Let us all start fresh and make it right the first time. A better world We could all have our share to make a better world. Let us start first within ourselves. Often times we are clouded with what the society dictates and how we are being tagged in the society. We often forget to take care of ourselves, which lead to unhealthy lifestyles that make us sick. We must change our ways and it will start by appreciating all blessings, whether it be small or big. A simple prayer of thanks that another chance in life was given to you is a good start. Sharing time with your loved ones. A simple chitchat will not require any financial layout. Stop for a moment, smell the fresh air and thank God for his creation. Simple steps, baby changes will lead us to our goals. Always think that life is not a sprint but a marathon. Choose to be happy no matter what situation you are in right now. Never stop dreaming and believing in the Almighty Father. We should always keep the faith and God will do the rest. As Filipino saying goes “Kapit lang at may awa ang Diyos.”

G

L

The author is an MBA student at the Ramon V. del Rosario College of Business. This essay is part of a journal she kept in fulfillment of the requirements of the course, Lasallian Business Leadership with Corporate Social Responsibility and Ethics. Visit her blog at https://andrelizabartolome.wordpress.com/. The views expressed here are the author’s and do not necessarily reflect the official position of DLSU, its faculty, and its administrators.

MONDAY, OCTOBER 9, 2017

B3

Hurricane ‘Nate’ slams into southern US coast N EW ORLEANS―Hurricane “Nate” slammed into the southeastern tip of the US state of Louisiana on Saturday and headed toward Mississippi after leaving dozens dead and causing widespread flooding in Central America.

Officials urged residents to evacuate some vulnerable areas before the storm made landfall on Saturday evening, and residents scrambled to make lastminute preparations ahead of the third hurricane to hit the southern US in less than two months. But US President Donald Trump said federal officials

were ready for the fast-moving storm, urging residents of the states of Louisiana, Mississippi, Alabama and Florida on Twitter to “listen to your local authorities & be safe!” Later Saturday, the eye of the storm was moving onshore the Mississippi coast the US National Hurricane Center (NHC) said in an update at 11:00 pm Saturday

(0300 GMT Sunday), warning it would make its second landfall within one or two hours. It predicted the storm would then pass over portions of several southern states through late Sunday. The storm, a Category One hurricane on the five-point Saffir-Simpson scale, with winds swirling at 85 miles (140 kilometers) per hour, had slowed slightly from its earlier pace, heading north at about 20 miles per hour, the NHC said. The center warned that “the combination of a dangerous storm surge and the tide will cause normally dry areas near the coast to be flooded by rising waters moving inland from the shoreline.” Alabama Governor Kay

Ivey tweeted that she had asked Trump to make a disaster declaration “to ensure we have all possible resources in place to respond to #HurricaneNate.” Trump earlier issued an emergency declaration for Louisiana and Mississippi allowing federal aid to be sent there to help mitigate the storm’s impact. New Orleans, which was ravaged in 2005 by Hurricane Katrina, leaving 1,800 people dead in the region, appears to have escaped Nate’s wrath. The mayor’s office lifted a mandatory curfew that had been imposed as a safety measure, saying the hurricane warning for the city was no longer in effect.

Multiple shelters had been opened for evacuees from low-lying areas, and officials urged residents to finish preparations before evening, including stocking up on several days’ supply of food and water. “I lived through Katrina and I know what that was like,” said Jackie Daigre, 69, who was buying groceries in preparation for the hurricane at a busy Walmart store, where the shelves of bottled water were picked almost completely bare. Officials said the recent hurricanes, devastating as they were, actually helped with preparations for Nate, since emergency supplies and assets deployed for the earlier storms were still in place. AFP

Only one thing will work on N. Korea, says Trump

FUNERAL. This photograph take on October 7, 2017, shows Indian Bollywood actress Raveena Tondoan attending the funeral of Indian film director and writer Kundan Shah. AFP

WASHINGTON―US President Donald Trump said Saturday the diplomatic efforts with North Korea had consistently failed, and that “only one thing will work.” Trump has engaged in an escalating war of words with North Korean strongman Kim Jong-Un, trading insults amid th rising tensions between the two nucleararmed rivals. “Presidents and their administrations have been talking to North Korea for 25 years, agreements made and massive amounts of money paid,” Trump tweeted. It “hasn’t worked, agreements violated before the ink was dry, makings fools of US negotiators. Sorry, but only one thing will work!” Trump returned to the theme when he appeared on former governor Mike Huckabee’s show on Trinity Broadcasting Network television on Saturday, blaming the previous administrations for not having adequately addressed the issue before.

This “should have been handled 25 years ago, it should have been handled 10 years ago, it should haven been handled during the Obama administration,” the president said, referring to his Democratic predecessor Barack Obama. The US has not ruled out the use of force to compel Pyongyang to halt missile and nuclear tests, and Trump has threatened to destroy the country. The mercurial American president also told journalists at a recent gathering with military leaders to discuss Iran, North Korea and the Islamic State group that the current period “could be the calm before the storm,” declining to clarify his remarks. In recent days, as Secretary of State Rex Tillerson flew home from meeting with top Chinese officials, Trump tweeted that his envoy was “wasting his time” in trying to probe North Korea’s willingness to talk. AFP

Taxi driver tells why the ‘last of the Bulgarians’ are all optimists PARIS―Stephan Komandarev’s latest film started as a joke. “I was in a taxi talking to the driver when he asked me, ‘Do you know why Bulgaria is the Land of Optimists?’” said Komandarev, who still laughs at the idea. “It’s the Land of Optimists because all the pessimists and the realists have already left,” the driver told him. That bitter joke set the filmmaker, the first Bulgarian ever to be shortlisted for

the Oscars, thinking. The Balkan country has lost a fifth or more of its population since the fall of Communism despite becoming a member the EU a decade ago. “There were nine million of us when the wall came down, and we are now around five million. And there hasn’t been a war,” the director told AFP. Official figures put Bulgaria’s population closer to seven million―statistics Komandarev says are contested, claiming they do not take

into account the millions of Bulgarians who spend most of the year working abroad. Whatever the figure, experts agree Bulgaria’s population is likely to become the fastest-shrinking in the world. So Komandarev set out to make a kind of “Canterbury Tales” of the disappearing Bulgarians told through the taxi drivers of the capital Sofia and their passengers. Over the course of a day and a night, “Directions”― or “Taxi Sofia” as it is called

in some countries―follows teachers, businessmen and even a priest driving taxis to make ends meet. “There are three priests driving taxis right now in Sofia,” said Komandarev. “Anyone who has lost their job or who is paid very little, like school teachers and academics, drive taxis at night. These people see real life on the streets, not just the life we see on television.” The taxi driver who told Komandarev the joke was a

professor of nuclear physics at the country’s Academy of Sciences until he lost his job during the “interminable transition” to the market economy, which has already lasted 27 years in Bulgaria. “We have been waiting for what seems like several lifetimes for the invisible hand of the market to sort everything out,” said the director, who had an international hit with his upbeat “The World is Big and Salvation Lurks Around the Corner”. AFP

Star authors grace Frankfurt book fair

POINT HONORS. Guests attend Point Honors Los Angeles 2017, benefiting Point Foundation, at The Beverly Hilton Hotel on October 7, 2017 in Beverly Hills, California. AFP

FRANKFURT―Margaret Atwood, Dan Brown and Nicholas Sparks are among the big names descending on Frankfurt this week as the world’s oldest book fair glams up for the Instagram generation, hoping to wow the crowds with “live events” by star authors. And with France as this year’s guest country it’s not just writers who are getting top billing: President Emmanuel Macron is set to formally open the fair with Chancellor Angela Merkel on Tuesday, accompanied by a who’s-who of the French literary scene. After last year’s edition focused on ways for publishers to tap into new technologies such as virtual reality and 3D printing, organisers this year are going back to basics, putting the spotlight back on writers and their readers. “There’s a desire to see authors, to experience them in real life,” the fair’s spokeswoman Katja Boehne told reporters ahead of the five-

day event, expected to attract over 270,000 visitors. “The book is more alive than ever,” Boehne said, describing a growing trend of fans queuing to see their favorite author in a “pop concert-like” atmosphere. Legendary Canadian novelist Margaret Atwood, whose 1985 dystopian novel “The Handmaid’s Tale” is now a successful TV show, will be among the top draws in Frankfurt where she will be presented with the German book trade’s “peace prize” for her prescient body of work. Fairgoers are also expected to jostle for a glimpse of US romance novelist Nicholas Sparks, whose mega-hits include “The Notebook” and “Message in a Bottle”, while historical thriller writer Ken Follett, Irish novelist Cecelia Ahern, and Paula Hawkins of “The Girl on the Train” fame will likewise draw readers hoping for an autograph or a selfie. But the undisputed high-

light comes on Saturday, when Dan Brown presents his new thriller “Origin”―the latest installment in the bestselling “The Da Vinci Code” series―in front of an audience of 1,800 book lovers. In what has been billed a “live event” with tickets selling for 24.50 euros ($29), Brown will lift the veil on professor Robert Langdon’s latest high-adrenaline quest to unravel the mysteries of the universe. “An event like this, that attracts nearly 2,000 people, we couldn’t have done that in the past,” said the fair’s director Juergen Boos, adding that he planned to “massively expand” on the concept in the coming years. “Our industry simply has to think about image as well, we have to make our business more glamorous,” he said. Guest nation France will lead by example by bringing over 180 writers to Germany, including some of the world’s best-known Frenchlanguage authors. AFP

LGUs

Jimbo Owen Gulle, Editor editor.lgustandard@gmail.com

B4

MONDAY, OCTOBER 9, 2017

Metro mayors’ spouses sign pact with Tesda

LOCAL GOVERNMENT UNITS

Signing the Tesda-MMMSFI memorandum of understanding are (from left) National Capital Region Tesda Director Cenon Querubin, Eva Nono, Edna Calixto, Tates Gana, Tesda Director General Guiling Mamondiong, Ricky Reyes, Janet Olivarez, Jenine Ponce, and representatives of other NCR cities at the ceremony at the Tesda head office in Taguig City. Manny Palmero

THE Technical Education and Skills Development Authority and the Metro Manila Mayors’ Spouses Foundation, Inc. have joined forces for the Special Skills Training Program for Marginalized Workers. Tesda Director General Secretary Guiling “Gene” Mamondiong said the Memorandum of Understanding they signed would provide free skills training, assessment and starter tool kits for the poor. The program will benefit the urban poor, disadvantaged women, informal workers and other marginalized workers who have no permanent jobs or livelihood, Mamondiong said. Through the MOU, Tesda and the MMMSFI will give free skills training to the marginalized workers of Metro Manila “so they would have enough skills when they are finally employed,” he added. Jun David

‘P400m in ghost projects’ T

HE mayor of Lubang Island in Oriental Mindoro has called on Public Works Secretary Mark Villar to investigate alleged ghost projects worth P400 million by an “unscrupulous, overstaying” district engineer. Mayor Roberto M. Sanchez wrote Villar on June 20, 2017, noting the “reported high percentage of accomplishments of the DPWH (Department of Public Works and Highways) on most projects while the actual works done are low or the projects have not even started.” With Josefino “Jose” Mergal, the Oriental Mindoro DPWH District Engineer, reporting that these unstarted road projects were nearing completion,

Sanchez said: “It is presumed funds have already been disbursed and paid to contractors thus making them essentially ghost projects.” The mayor urged Villar to conduct a full audit of DPWH projects on the island “to determine the damage or losses suffered by the government, and pinpoint and prosecute public officials responsible for these gross misdeeds, dishonesty, dereliction of

duties and responsibilities.” The department had sent a team to Lubang Island on June 27 to verify Sanchez’s allegations. A week after, the audit team validated the mayor’s claims of ghost projects. National Security Adviser Hermogenes Esperon Jr. also wrote to Villar nearly a month after Sanchez’s appeal, urging the secretary to consider the “alleged gross anomaly and misreporting” of public works projects in Oriental Mindoro and update the mayor on their true progress. Mergal authored the dubious completion reports and has been district engineer of Oriental Mindoro for five years, despite the agency’s policy to reshuffle engineers every two to three years to avoid famili-

arity with local contractors and government officials. Mergal or Villar could not be reached for comment at presstime. Sanchez cited 19 road projects with a total project cost of P315.483 million as virtually ghost projects. These were undertaken by private contractors Algimar, CL Carandang, and Kejamarenik that could be liable for violations of the Revised Penal Code for falsification and malversation, and plunder under the Anti-Graft and Corrupt Practices Act. Senator Joseph Victor “JV” Ejercito previously warned about possible plunder charges against DPWH officials regarding the ghost projects on Lubang Island, and likewise urged Villar to probe the issue.

INDUCTION RITES. National Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. president Domingo H.

Yap (left) leads the handover and induction ceremonies of the FFCCCI Lucena City Chapter headed by new president Gaspar K. Ong (fifth from right). Lucena City Mayor Rhoderick ‘Dondon’ Alcala, former Agriculture secretary Procy Alcala and other businessman also attended the event (inset photo). Benjie A. Antioquia

“Secretary Villar should do a thorough investigation on this. A lot of money has been earmarked for these projects, and we need to know if they’ve been used properly or not. If true, someone needs to be held liable for plunder,” said Ejercito, the vice chairman of the Senate committee on public works. Ejercito, who used to be the mayor of San Juan City, said the allegations of irregularities in certain DPWH projects show how powerful a district engineer is. “They are powerful, especially if there’s a lot of funds, they are instrumental to what project can continue or not. It can be defrauded, just by saying the project is already complete when in fact they are just partially finished,” the senator said. The biggest anomalies in the report were a combined P163.17 million in four road projects and a flood control project contracted by Algimar, which Mergal’s reports said were between 90 to 98 percent complete, when in fact they have not started or are just 50 percent finished at most. The DPWH engineer’s reports also claimed that a P6 million in farm-to-market road projects by CL Carandang were nearly 50 percent complete as of March 2017, but have in fact barely started. Mergal also claimed the P3.228-million Lubang Water System improvement project by Kejemarenik was 95 percent complete as of March 2017, but also has not yet started. Robert Evora

BACK TO NPC. Quezon City Mayor Herbert Bautista (left) is sworn in by former ambassador and Nationalist People’s Coalition chairman Eduardo ‘Danding’ Cojuangco Jr. (right) as the latter welcomes the mayor back to the party on Friday at the San Miguel Corp. head office in Ortigas, Pasig City. Bautista, who is serving his third and last term, is reportedly eyeing a congressional seat in QC’s third district. Manny Palmero

Manila cracks down on 2 funeral parlors By Bill Casas TWO funeral parlors in Tondo are facing immediate closure for operating without business permits and violating sanitation laws, after Manila Mayor Joseph Estrada ordered a citywide clampdown. Estrada said Punerarya San Rafael and Corazon Memorial Services, located in Moriones and Juan Luna streets, respectively, were recommended for permanent closure by the Manila Health Department’s Division of Sanitation. Citing a report submitted by MHD chief Dr. Benjamin Yson, Estrada said the two funeral establishments were found to have committed serious violations, foremost of which is operating without or expired Business Permit and

Sanitary Permit. “If there’s evidence, close it down,” Estrada said in an interview. The mayor ordered the crackdown against improperly managed funeral parlors and embalming establishments to safeguard public health. “We are only trying to avert some sort of a major health risk by ordering the closure of these ill-maintained funeral homes. I want immediate action,” he stressed. In separate endorsements sent to Bureau of Permits Director Fortune Mayuga on October 4, Yson said MHD is “compelled to recommend that a Closure Order be issued to and imposed on” Punerarya San Rafael and Corazon Memorial Services.

When the ‘Pearl of the Orient’ meets ‘Treasure Island’

The Taiwan Expo 2017 leads Taiwan and the Philippines to discover the importance of each other By Dr. Gary Song-Huann Lin DR. LIN is the Representative of Taiwan/ROC to the Philippines and head of the Taipei Economic and Cultural Office in the Philippines. THE three-day Taiwan Expo 2017, held at the SMX Convention Center in Pasay City from 29 September- 1 October 2017, served as a catalyst to discover the importance of each other for the national developments of Taiwan and the Philippines in the years to come. Although Taiwan and the Philippines are the closest neighbors, Taiwan and the Philippines have long overlooked each other and are actually “neighboring strangers.” Since 2004, for more than 13 years, Taiwan has never organized any large-scale exhibition in the Philippines and vice versa. To implement the “New Southbond Policy,” TITRA and the Taiwan Association, Philippines,

Dr. Lin.

jointly organized the said Taiwan Expo 2017. The Taiwan Expo 2017 features more than 240 booths by over 190 exhibitors from Taiwan’s public and private sectors showcasing around 4,500 products, services and technologies. It comprises eight pavilions: agricultural technology, urban marketing, cultural tourism, Taiwan education, health and lifestyles, general services, innovative technology and Taiwan

enterprises in the Philippines. The Taiwan Expo 2017 underlined by the Taiwanese products enjoying advantages in the local market are those in green technology, medical solution, aquaculture technology and agriculture technology. Aside from the Taiwan Expo 2017, a Philippines-Taiwan Industrial Collaboration Summit was also held to explore opportunities of cooperation in the industries of green technology, industrial zone development, information and communication technology as well as machinery. During the Summit, six collaboration MOUs have been signed by the various industries and institutions. Moreover, during the DoSTMOST Science and Technology Pre-Review Meeting, the bilateral cooperation will be expanded to the spheres of health, agriculture, artificial intelligence, and startup, etc. In education, the Taiwan Expo 2017 has also marked a new milestone for the Taiwan-Philippines

educational exchange and cooperation, and specifically, 21 Taiwan universities participated in the Taiwan Expo 2017 event. As the Philippines increasingly requires highly educated talents to help drive its growing economy, the event serves as an excellent opportunity to encourage young scholars to pursue tertiary education in Taiwan. More importantly, as the Philippines has the biggest Englishspeaking population in Asean, and energetic and talented professionals, Taiwan’s Ministry of Education has pinpointed the Philippines, the “Shining Gem” and “Pearl of the Orient” in Asia, as being an important partner to Taiwan for the educational cooperation. To strengthen the PH-Taiwan educational cooperation, Taiwan has set up an Education and Resource Center in Makati City functioning as a platform to facilitate the exchanges in education and culture. Further, a forum for various universities’ presidents of our two

countries will be established and a new proposal on sending the Philippine Universities’ lecturers and teachers to pursue further studies and doctoral degrees in Taiwan is underway. It is worth mentioning that Mr. Tyson Hsieh, a prominent Taiwanese community leader in the Philippines, has offered to provide 50 round trip air tickets for the Filipino scholars to travel to Taiwan for the abovementioned purpose. Taiwan will also furnish more Taiwan scholarships for the Filipino students to study in Taiwan. Another good news is the announcement of visa-free treatment for all Philippine nationals. The visa-free entry to Taiwan has been approved by Premier William Lai of the ROC (Taiwan) to allow Filipino citizens to enter Taiwan for 14 days stay in Taiwan as part of Taiwan government efforts to promote people-to-people exchanges and tourism between Taiwan and the Philippines. The effective date of the new visa-

free program will be announced in due course. To reciprocate Taiwan’s goodwill and welcome, Taiwan also urges the Philippine government and Meco to follow the principle of reciprocity and grant Taiwan nationals visa-free treatment or at least to improve its visa arrangements and reduce visa fees for the Taiwan nationals. In the time of a new era that is mixed with opportunity and uncertainty facing today’s world, let’s expand and strengthen multifaceted cooperation and partnership, including more people-to-people engagement and interaction. By doing so, we will become good neighbors and good friends. By working together, we can build our prosperous, inclusive and innovation-led economics. It is my vision and dream that, as the closest neighbors, we can build a living economic community in which we can travel freely and our bilateral relationship will grow from strength to strength in the upcoming years.

Beef shank smothered in mushroom sauce and served with grilled corn on the side

Life

Isah V. Red, Editor Bernadette Lunas, Writer isahred@gmail.com

FOOD

MONDAY, OCTOBER 9, 2017

C1

Cult Favorites

C

HEF Dennis Lim, a towering presence with an almost shy, softspoken voice, has developed a cultlike following for his rustic, reservationonly private dining restaurant Denlim’s Kitchen in Pampanga. So much so that if you wish to secure a reservation for a weekday, you’d get one for March – next year. Weekdays will prove to be a longer wait, as his next available schedule is in October—again, next year.

Chef Lim’s Crab Marlen uses 36 salted egg yolks for every three kilos of crabs.

It came as no surprise then that Holiday Inn & Suites Makati wanted, for the longest time, to collaborate with the self-taught Lim. And as just as the adage—good things come to those who wait—goes, the hotel had to wait almost 10 months for Lim’s schedule to free up since the idea for a partnership was first broached in December last year. And worth the wait his dishes were. The press preview lunch started with bangus paté served with French baguette. It was a light starter – the steamed bangus a nod to his Kapampangan roots, f laked a n d tossed w i t h olive oil and capers. Next was Chef Lim’s Oriental cashew salad, a mix of iceberg and romaine lettuce with julienned car-

THE JOYCE OF EATING JOYCE BABE PAÑARES

rots and bell pepper, bean sprouts, corn flakes, cashews and candied walnuts with a very light but flavorful dressing. His mains include Spanish callos, pasta Corrito, beef shank with mushroom sauce and served with grilled corn and enoki mushrooms, crab Marlen, and pugon-cooked liempo with pork buro and lettuce wraps. For his callos, he smokes first the beef knuckles and hocks to give the dish, which he stews with beef skin and tripes for six hours, additional flavor. Crab Marlen, named after his aunt, uses 36 salted egg yolks for every three kilos of crabs—a deadly combination that one can do justice only by eating with one’s hands, hotel napkins be damned. (The waiters were thoughtful enough to serve finger dips with sliced lemons.) The pasta Corrito, an olive oil-based seafood pasta topped with tomatoes, shrimps, squid, and mussels and served with lemon wedges on the side, provided a lovely break to the meat-based dishes served, but the pause only enough to prepare us for his piece de resistance—the pugon

liempo, with the meat tender and the pork skin perfectly crunchy. The succulent pork belly slices are wrapped in lettuce and smothered with a generous serving of the buro babi, which, according to Chef Lim, traces its roots to Candaba, Pampanga, and has no sour taste and smell unlike the shrimp or fish varieties. All his dishes were intelligently executed, and promise not to disappoint those who choose to wait for a slot to make that gustatory trip to Pampanga. Even better, his dishes will be part of Holiday Inn’s signature buffet restaurant, Flavors, from Oct.10 to 19, affording a chance, albeit limited for ten days only, to those who want to experience Chef Lim’s culinary masterpieces. “We are always looking for interesting food ideas and collaborations to bring a great dining and travel experience to our guests and customers. Chef Lim is a good fit because his cooking style reflects Flavors Restaurant’s friendly and unpretentious vibe,” said Andy Belmonte, Holiday Inn & Suites Makati manager. “It felt right,” said Chef Lim, who admits this is his first time to collaborate with an international hotel. “More than just another feather in my cap, I know it will be good experience working with other chefs. I do not have formal training, so I know I will learn a lot from this.” “I wouldn’t know what to call my style of cooking. I just keep it simple, as I like to bring out the true flavors in my dishes,” he added. For feedback, send comments to joyce.panares@gmail.com

Some of the cult favorites in Chef Lim’s Denlim’s Kitchen in Pampanga that can be enjoyed at Holiday Inn’s Flavors Restaurant from October 10 to 19 only include the Oriental cashew salad, pasta Corrito, and Spanish callos.

Delicious choices daily with FamilyMart all-day value meals THERE’S no need to go far for a delicious and satisfying meal that won’t break the bank, because from breakfast, lunch, and even great afternoon snacks, FamilyMart got you covered. With a number of different options on its menu, the popular Japanese convenience store makes sure you won’t run out of choices any time of the day. While you’re on your way to work early in the morning, you’ve got Everyday Breaky Treats from 6 a.m. to 9 a.m. to jumpstart your day. Buy any of the breakfast meals or sandwiches, and get 20 percent off on an 8-ounce UCC Coffee Café Americano. Have your coffee along with a hearty breakfast of your favorite silog meals, like Cornsilog, Tocilog, Hotsilog, and Tapsilog. For an option that can be easily eaten on-thego, choose from FamilyMart’s different sandwiches like Chicken Salad, Tuna Salad, Egg Salad, Ham & Cheese, Corned Beef & Egg, or Sausage & Egg. For lunch, from 11 a.m. to 2 p.m., FamilyMart brings you Noontime Treats. Have any Donburi meal that suits your cravings for the day and get 20 percent off on any 12-ounce juice to go with tasty servings of Sisig, Pork Binagoongan, Pinakbet with Bagnet, Pork Steak, Chicken Adobo, Beef Teriyaki, Beef Caldereta or Katsudon. To recharge yourself in the afternoon, you can look forward to Mid-day Treats from 3 p.m. to 5 p.m.. Beat the afternoon heat by getting 20 percent off on a 12-ounce Calamansi Zing or Taro Slush Super Freeze when you pair it with a Chicken Cheese Dog Sandwich, Chicken Nuggets, or Lobster Balls. FamilyMart is the second largest convenience store chain in the world with over 18,000 stores across Asia. In the Philippines, FamilyMart has branches in Makati, Ortigas, Quezon City, San Juan, Manila, Mandaluyong, Marikina, and Fort Bonifacio Global City.

Authentic Hokkaido Ramen Santouka at UP Town Center

Convenience store FamilyMart offers a wide selection of meals for breakfast, lunch, and merienda

RAMEN lovers in North Metro can now enjoy Japanese culture in a bowl as Hokkaido Ramen Santouka brings its authentic, passionately cooked ramen recipe to UP Town Center on Katipunan Avenue, Diliman, Quezon City. Hokkaido Ramen Santouka opens its 11th branch at the UP Town Center to give residents of the area and neighboring communities a taste of the unique family ramen recipe developed in 1988. Santouka’s ramen offerings are masterfully made with imported ingredients—from the noodles down to the soup, which is cooked for 20 hours daily to keep it fresh and healthier but delicious to the last drop. The opening of the new branch features special discounts available until October. Students can truly say TGIF every Friday until Oct. 13. Enjoy 20 percent discount on Santouka’s new offerings: fried chicken tsukemen and tonkatsu tsukemen upon presentation of a valid student ID. They may also treat themselves with the buy one, get 30 percent off on second order of a regular takoyaki or cheese takoyaki promo.

Hokkaido Ramen Santouka brings its ramen offerings and other dishes to its newest branch at UP Town Center

CYAN MAGENTA YELLOW BLACK

Life

MONDAY, OCTOBER 9, 2017 C2 Standard TODAY Manila

isahred@gmail.com

Oliviers&Co.

launches 2017

GRAND CRUS COLLECTION

W

HEN it comes to olive oil, quality is key, and this is why gourmands and experts in the food industry believe it’s an ingredient worth investing in. Oliviers&Co. and its partner producers seriously factor in the following aspects in ensuring the superiority of their olive oils: the olive variety, the manner and speed of harvest and production, and storage. Committed to offering only the world’s best olive oil, O&Co. implements the strictest guidelines and selection criteria from harvesting to bottling.

A taste of excellence

Where the ingredients come from is an important factor that determines the taste and characteristics of an O&Co. olive oil. This is why O&Co. travels throughout the Mediterranean to select hundreds of expert mills using demanding specifications. The oils are all rated on a scale of 200 points, with only thirty

REPUBLIC OF THE PHILIPPINES METROPOLITAN TRIAL COURT OF METRO MANILA BRANCH 43 – QUEZON CITY PEOPLE OF THE PHILIPPINES Plaintiff, -versusCRIM CASE NO. 160842 FOR: Violation of B.P. 22 JACINTA C. MAALIHAN, Accused. x--------------------------------------x

NOTICE OF SHERIFF’S SALE ON REAL PROPERTY GREETINGS: WHEREAS, by virtue of the WRIT OF EXECUTION dated December 16, 2015 issued by HON. DON ACE MARIANO V. ALAGAR, Presiding Judge of Metropolitan Trial Court Branch 43, Quezon City, for recovery of the principal amount of P 360,000.00 plus cost, interest, attorney’s fees and expenses in the above entitled case, levy was made by the Sheriff of this Court on October 25, 2016 thru the Register of Deeds for Batangas, Batangas the rights, interest, and participation of said accused JACINTA C. MAALIHAN, in the REAL PROPERTY including its improvements described as follows: TITLE NO. AREA OCT No. P-29032 1,578 sq.m. OCT No. P-29031 1,497 sq.m. REG. OWNER: JACINTA C. MAALIHAN married to REYNALDO MAALIHAN LOCATION: Labac, Cuenca, Batangas NOW THEREFORE, by virtue of the said WRIT and in accordance with

oils per year retained by their expert “oléicologue.” Timing is also important: olives must be hand-harvested when still green and its oils taste best when they are freshly pressed. O&Co. producers handpick the olives which are then cold pressed within 24 hours of harvest. Five to 12 kilos of olives are used to ob-

Rule 39, Sec. 19 of the Rules of Court, the undersigned Sheriff hereby gives notice to all interested parties and to the public in general. That on November 10, 2017 at 10:00 o’clock in the morning at Rm. 328, 3rd Floor, Hall of Justice Bldg., Quezon City will sold at PUBLIC AUCTION to the highest bidder for cash the described properties to satisfy the said execution and sale. Interested parties are hereby enjoined to investigate for themselves the title to the said property/ies and the encumbrances thereon, if any there be. All bidders must submit their sealed bids on or before the abovementioned date and time and will be publicly opened immediately after 10:00 o’clock. In the event that public auction should not take place on said date due to fortuitous event of if the same be declared a non-working holiday, it shall be held on November 17, 2017 at the same time and place without further notice. Quezon City, Philippines, Metro Manila, September 25, 2017.

(Sgd.) HERMINIO D. HAPATINGA SHERIFF III WARNING: It is absolutely prohibited to remove Deface, or destroy this Notice of Sale on or before the date of the sale, Under penalty of the law. Copy furnished: Jacinta C. Maalihan c/o Cuevas Bakery No. 16 McArthur Highway Brgy. Malanday, Valenzuela City

For fast ad results, please call

Advertising Department 832-5547

Jose Emmanuel L. Carlos No. 80 M.H. Del Pilar St., Palasan, Valenzuela City

(MS-Sep. 25 & Oct. 2 & 9, 2017)

Republic of the Philippines Province of Bataan Municipality of Hermosa

Tel.No. (047-633-1531 to 34) Telefax No. (047) 633-1531 to 34 E-mail address:hermosa_bataan@yahoo.com

INVITATION TO APPLY FOR ELIGIBILITY AND TO BID (IAEB) The MUNICIPAL GOVERNMENT OF HERMOSA, through its Bids and Awards Committee (BAC), invites contractors to apply for eligibility and, if found eligible, to bid for the following contract: Contract ID Name of Project

: 17CRN020 : Supply of Materials, Labor and Equipment for the Repair/Rehabilitation of Hermosa Public Market Perimeter Road Brgy.Palihan Location : Hermosa, Bataan Brief Description : Asphalting of Road ABC : P16,482,556.40 Funding Source : GENERAL FUND of 2017 Contract Duration : 60 Calendar Days The BAC will conduct this public bidding in accordance with R.A. 9184 and its Implementing Rules and Regulations Part A. To be eligible to bid for this contract, a contractor must meet the following major criteria: (a) prior registration with MUNICIPAL GOVERNMENT OF HERMOSA, (b) Filipino Citizen or 75% Filipino-owned partnership/ corporation with PCAB license applicable to the type and cost of this contract, (c) completion of similar contract costing at least 50% of ABC, and (d) Net Financial Contracting Capacity at least equal to ABC, or credit line commitment/cash deposit certificate for at least 10% of ABC or. The MUNICIPAL GOVERNMENT OF HERMOSA will use non-discretionary pass/fail criteria in the eligibility check, preliminary examination of bids, post qualification, and award. The significant times and deadlines of procurement activities are shown below: Activities 1. Issuance of Bid Documents

Schedule October 9 to 30, 2017 (Regular Office Hours) 2. Pre-Bid conference October 12, 2017 at 10:00 a.m. Venue Mayor’s Conference Rm. 2nd floor 3. Submission and Receipts of Bids October 30, 2017–8:00 a.m. to 10:00 a.m. Venue Mayor’s Conference Rm. 2nd floor 4. Eligibility Screening/Opening of Bids October 30 @ 10:00 a.m. Venue Mayor’s Conference Rm. 2nd floor

The BAC will issue copies of Bid documents at the same address to eligible bidders upon payment of a non-refundable fee of Twenty Thousand Pesos (P 20,000.00) to the Municipal Treasurer of Hermosa. The MUNICIPAL GOVERNMENT OF HERMOSA 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. Approved by: (SGD) NORMITA P. TRIA BAC Chairperson

tain an exceptional liter of oil: this low yield is the guarantee of quality. For the O&Co. Specialty Oils, the olives are crushed directly with citrus fruits, herbs, and fresh spices with no added flavoring. O&Co., led by its Quality and Product Development Director Eric Verdier, inspects over 1,200 batches per year, both in sensory and taste compliance, along with rigorous physiochemical analysis. All the oils are then bottled in their workshop in Mane, Haute-Provence, with each label specifying the country of origin, the domain and producer’s name, the harvest date, the varieties of olives, and the number of liters available. Light and heat can be detrimental to fresh oils so O&Co.’s bottles and containers are opaque in order to preserve the oils’ taste and quality.

The O&CO. 2017 Grand Crus

O&Co. introduces its 2017 Grand Crus collection which is available in stores starting this August. The collection of limited edition bottles, harvested from October to November 2016, showcases the finest olive oils from Italy, Spain, Croatia, Greece, Portugal, and France, each boasting remarkable quality and taste. The Gold Harvest Collection, which is O&Co.’s cream of the crop, are all from exceptional groves located exclusively on the lands of Tuscany. Its Fattorie DiGaliga E Vetrice bottle, whose taste profile includes bitter almond, cut grass, and artichoke, is best paired with raw and cooked vegetables, bread dippings,

Oliviers&Co. 2017 Grand Crus Collection is composed of the finest olive oils harvested from October to November 2016 in Italy, Spain, Croatia, Greece, Portugal, and France. (Inset) O&Co. Gold Harvest Fattorie Di Galiga E Vetrice

red meats, pasta, ravioli, drizzled over mozzarella, ricotta, or goat cheese. The French oils, sought out by O&CO. in Provence and Corsica, are extraordinarily rare and makes up less than 1 percent of world production. They are exquisite, surprising, and reveal exceptional flavors—a tribute to French producers who work with the greatest care to create these true gems. This is the first collection to release French oils in black bottles, which signifies its premium quality. One of the three bottles in this series, the Moulin La Cravenco has notes of dried herb, baked apple, and butter, and is best paired with delicate fish, chicken breast, asparagus, fresh peas, soft and hard cheese, pork, and baked goods. The other Grand Crus include the floral Frantoio Gal-

antino from Italy, whose taste profile includes notes of almond, cashew nuts, and dried herb, and complements potato salad, chicken with parsley and parmesan cheese, and ricotta with chives; the delicate and floral Finca La Gramanosa from Spain, which is best paired with grilled fish, chicken, pork, penne and spaghetti, vegetables, bread with tomato, and strawberry salad; Lakudia from Greece, which can be used on Greek salad, lamb skewers with lemon, and stuffed eggplant; and the grassy A Capela Dos Olivias from Portugal, with notes of green apple, dried herbs, and artichokes, which would make vegetables, chicken, marinade, pasta, rice, and mixed green salads taste heavenly. O&Co. boutiques are located at Central Square, Bonifacio High Street and Greenbelt 5, Ayala Center Makati.

Q UICKB ITES

Cheesy Yumburger just got cheesier TAKE a well-loved cheesy classic and take it to another level of cheesiness. This is Jollibee’s perfect recipe for the recent slew of flavor innovations it serves to millions of Filipinos all over the country and in the world. The newest offering to receive an upgrade is the Cheesy Yumburger, a popular variant of the fast-food giant’s pioneering Yumburger. “The new Cheesy Yumburger is the Pinoy cheeseburger,” said Luis Berba, Jollibee brand manager for YUM Burgers. “It’s the classic combination of beef, cheese, and Jollibee’s very own special burger dressing that has made it so popular among Filipino diners of all ages.” Despite the Cheesy Yumburger’s enduring popularity, the Jollibee team still wanted to improve the flavors and din-

The result is a cheesy concoction like no other Jollibee fan has seen before. Creamy cheddar cheese is melted on top of the 100 peercent beef Yumburger patty, making for a mouthwateringly cheesy and beefy experience with every bite. “Jollibee is always committed to constant innovation of flavors and dining experiences for our customers,” added Berba. “The new and improved Cheesy Yumburger, with its uniquely Pinoy taste and cheesier flavor profile, is more delicious Creamy cheddar makes Cheesy Yumburger cheesier than ever—the perfect Jollibee offering ing experience for its ever-expanding for burger lovers who want langhap-sarap customer base. So they went back to goodness in their cheeseburger.” the Research and Development lab and went around asking actual diners what Cheesy Yumburger is available for dine-in, they would like to see and taste in their take-out, delivery, and drive-thru at all Jollibee stores nationwide. Prices start at P45.00. cheeseburgers.

Discover the new ‘thin’ twist in Oreo Thins

AS WE grow older, our taste palette matures too. It shows in the food we prefer. We explore for new tastes and sensations Oreo Thins is a testament to the innovative experience of its local marketer, Mondelez Philippines Inc., which is celebrating its 54th year of catering to the snacking preferences of Filipinos. Mondelez Philippines saw an opportunity to propose an Oreo that has more crunch, same flavor, a new young adult target audience and of course, a brand new snacking experience. Oreo Thins puts a modern and refreshing spin on your classic chocolate cookie. This grown-up version of Oreo is a more

Oreo Thins is made of thinner Oreo cookies and a layer of Oreo creme

sophisticated sandwich cookie, made of delicate, thinner cookies with a layer of signature Oreo crème for the perfect combination of classic delicious Oreo taste, crispy texture and perfect sweetness. It weighs only 5.9g and measures

only 7.2mm thin. Available in Vanilla Delight and Tiramisu, Oreo Thins is perfect for your coffee breaks and tea time. Oreo Thins is available in Tiramisu and Vanilla Delight flavors at P 41.50 per box.

(MS-OCT. 9, 2017)

CYAN MAGENTA YELLOW BLACK

MONDAY, OCTOBER 9, 2017

Will Janine Gutierrez move to another network? THAT’S the question in the minds of many Kapuso followers after Janine Gutierrez move to the management tean of Leo Dominguez confirmed to this writer by her mother, Lotlot de Leon. “That’s right,” Lotlot avers. “I arrived at this decision because apart from my own acting career, which also needs my attention, I’m also very busy in handling our restaurant business in Parañaque. Given these conditions, I prefer that someone will really focus on Janine and help her explore new possibilities in her career!” Some quarters are eager to know regarding the choice of Leo to be her daughter’s new manager. “Oh, it’s because Janine idolizes Lovi Poe and Solenn Heussaff who are both Leo’s talents. She loves those two girls and want to follow in their footsteps. When I called up Leo and asked if he’s interested to handle Janine, he readily approved and said he’s been following her career. What’s good is that Leo and I have the same visions for Janine so I’m certain that he’s the best choice.” According to Lotlot, she and Janine mutually agreed on this new development. “Well, we’ve been talking about this even before,” she reveals. “It’s just that we’ve had no chance to sit down and really formalize things since a lot of endorsement contracts came in. We just opted to let things in status quo and see where it would lead. Until I asked her again if she would like to be handled by a new manager who can really focus on her. Janine told me that if I think it’s best for her, then it’s fine with her. That’s where it started!” With this new set-up, people are curious if Janine would remain as a Kapuso. “As of now, her contract with GMA is under negotiations. Leo will take care of that. We’re very grateful to the station because they’ve been instrumental in what Janine reached so far in the ‘biz. Since the start, GMA has been influential in her career. It would all depend on the talks between Leo and the management as to their plans for Janine in the coming years!” Fans want to confirm if Janine is already in a relationship with Rayver Cruz. “Honestly, I don’t know! Ha-ha-ha! It would be best if you’ll ask them directly. As far as I know though, they’re still in the dating stage.” The award-winning actress has strong confidence in her lovely daughter. “Janine has a good head on her shoulders. I trust her decisions. For one, she’s already of age, right? Wherever she finds happiness, I’ll support her,” says Lotlot. ******** Zanjoe Marudo is proud of his nomination in the Best Performance by an Actor category in the forthcoming 45th International Emmy Awards for his work in the “Anino” episode of the longrunning ABS-CBN drama anthology Maalaala Mo Kaya. “I’m overwhelmed with joy!” he states. “I consider this a milestone in my career as an actor and more importantly, a Filipino. Imagine I’ll be competing with renowned and accomplished actors from other countries, like Kad Merad (France), Julio Andrade (Brazil) and Kenneth Branagh (United Kingdom). It’s a huge honor to be lined-up with these revered names as nominees.” The actor takes pride in the MMK episode for which he got nominated. “It’s a very challenging part actually. If you’ll remember, I breathed life to the role of a father who has paranoid schizophrenia. It’s another inspiring tale for the viewers which ‘MMK’ is known for.” The winners will be revealed in the 45th International Emmy Awards gala night on November 22, 2017 at the posh Hilton New York Hotel. “Again, I’m so honored with this nomination. My heartfelt thanks to the jurors, MM’ and Star Magic,” ends Zanjoe.

Docuseries that promotes Filipino craftsmanship

A

NC, the ABSCBN News Channel (ANC) continues to train the spotlight on Filipino culture and heritage with the launch of the documentary series Local Legends on Sept. 22.

Produced by the ABS-CBN News Docucentral, Local Legend aims to promote a deeper sense of pride in our country’s heritage by showcasing Filipino craftsmanship and artistry in music, food, and textiles. Each episode, which airs on ANC and ANC HD at 8:30 p.m., features a Filipino product and the master craftsmen who continue to make them to this day to preserve a tradition that has been passed on to many generations. ABS-CBN News head and ANC Managing Director Ging Reyes said through the program, ANC hopes Filipinos would have a newfound appreciation for the “living legends” in our cultural communities. “In Local Legends, the star is the product. Behind each piece

ANC's "Local Legends" takes viewers to different parts of the country introducing ‘living legends’ in cultural communities

is a story of someone who mastered their craft, their struggles, their inspiration, how they differentiate their product about the West, and their efforts to sustain their craft in a globalized market with more modern competitive means of mass production. The skills and knowledge of these living treasures must be passed down to future generations, if their craft is to be

MORE and more CBN DTT head Filipinos are saying Chinky Alcedo said that they are goodbye to analog on track to hit their television and are target of selling now watching cumulative four television via million ABS-CBN digital terrestrial TVplus boxes this television (DTT), year, allowing cable, or direct-to- ABS-CBN TVplus provides dramatically clear even more Filipino home satellite TV reception for all free TV channels via digital families to get the based on the latest transmission ultimate viewing Kantar Media experience with establishment ABS-CBN TVplus’ promise of clear survey conducted in August. According to the study, 72 percent picture and additional channels with no of homes in Metro Manila are already monthly fees. One of its exclusive channels, “digitally-enabled” with only 28 percent CineMo – an all-day movie channel - is still using analog television. A big factor already among the Top 5 channels in the in this on-going digital shift has been the country in terms of TV ratings. Leading the way in the country’s warm reception of consumers of ABS-CBN TVplus, ABS-CBN’s DTT service that has departure from analog is ABS-CBN, which enabled millions of Filipinos to enjoy clear is rapidly transitioning into an agile digital TV viewing, crisp sound, and pay per view company with a growing list of digital platforms and the biggest online presence services for an affordable price. Metro Manila alone, 55 percent of non- among Filipino media companies. ABS-CBN is the first media company to cabled homes or one in two homes have an ABS-CBN TVplus box, according to offer DTT service in the Philippines when Kantar Media, which has conducted three it launched ABS-CBN TVplus in 2015, establishment surveys in February, May, which also offers YeY!, an all-day children’s channel, Knowledge and August this year to determine the media entertainment landscape in the country, particularly how Channel, an educational channel that airs Filipinos are watching television. In Mega curriculum-based programs and content Manila, 44 percent or almost half of non- for primary and secondary students, and cabled homes are also enjoying the benefits DZMM TeleRadyo, which offers the live TV broadcast of programs from DZMM of ABS-CBN TVplus boxes. The results show the continuous Radyo Patrol 630. migration of viewers from analog to ABS-CBN TVplus signal coverage digital, where the quality of the picture and is available in Metro Manila, Bulacan, the sound are better, and where viewers Nueva Ecija, Pangasinan, Rizal, Laguna, are also given more choices in terms of Pampanga, Tarlac, Benguet, Cavite, Metro channels and programs. Cebu, Cagayan De Oro, Iloilo, Bacolod, As of mid-September, ABS-CBN has and Davao. The ABS-CBN TVplus box already sold 3.6 million ABS-CBN TVplus is offered at a very affordable one-time boxes nationwide since 2015. ABS- payment fee of P1,499.

Monday, October 9, 2017

59 Baroness Karen 60 Eurasian mountains 62 Snagged a dogie 63 Congenial 64 Teamster rig 65 Wed impulsively 66 Pierre’s noggin 67 Golf hazard 68 Bumper mishaps DOWN 1 Skip town 2 “The Mammoth Hunters” heroine 3 Very, to Yvette 4 One, to Helmut 5 Wavy seashell 6 “You don’t say!” 7 Like — — of bricks 8 Cotton units 9 Put away a sword 10 Gazed at 11 Curie daughter 12 Exhausts 13 Barely managed 21 Nutritious bean 23 Frog cousin 25 Excessive interest 27 Glimpse 28 Marseilles Ms.

people’s lifestyle. The 13-episode docuseries will also go to Masbate, Kalinga, and other points in the Philippines to meet the masters in making traditional Filipino products like rhum, karne norte, the jeepney, among many others. Behind Local Legends, which celebrates the passion and uncovers the struggles of Filipino master craftsmen

in this age of globalization, are the makers of Mukha, ANC’s award-winning documentary program that has won a Silver Dolphin at the 7th Cannes Corporate Media and TV Awards and was a finalist in the 2017 New York Festival Awards for International TV Programs and Films. Local Legends airs on ANC and ANC HD every Friday, 8:30 p.m..

More Metro Manila viewers watch digital, cable, and satellite TV

CROSSWORD PUZZLE ACROSS 1 Destines 6 Applies makeup 10 Be gullible 14 Melody’s words 15 Ogden locale 16 Viking name 17 Ms. Verdugo 18 Pit 19 Present! 20 Art stands 22 Tidied up 24 Slugger — Gehrig 26 Evening wraps 27 Uses 31 Owned 32 Get some rest 33 In need of a meal 36 Cul-de- — 39 Urban map 40 Money-hunger 41 Mound 42 Oui, in Boston 43 Simple toys (hyph.) 4 4 Khartoum’s land 45 Urge 46 Storm 48 Kitchen implement 51 Go out with 52 Twain’s town 54 Japanese theater

preserved,” she said. In the pilot episode “Bandurria,” the program brought viewers to San Antonio, Guagua, Pampanga, where guitarmaking has been around for more than a century. The second episode set in Ifugao features rice wine-maker Win-di Paliha, who hopes to preserve the traditional way of making wine amid the modernization of his

29 Pod contents 30 Permit 34 Prefix for classic 35 Galas 36 Fries, for one 37 Mournful wail 38 Per — 40 Lost everything (2 wds.) 41 Litter member 43 Himalayan legend 4 4 Smudged 45 Rebel’s foe 47 Reaction to a

mouse 48 Bandleader Count — 49 Make laws 50 Not as common 52 Slight indication 53 Sand mandala builder 55 Trunk of a tree 56 Versed in (2 wds.) 57 Hung on to 58 Bad day for Caesar 61 Bottle edge

BEVY OF BEAUTIES.

Kapuso (from left) Rhian Ramos, Lovi Poe, and Max Collins star in a light comedy show that tackles issues they know by heart -- moving on and getting over

Isah V. Red, Editor Nickie Wang, Writer isahred@gmail.com MONDAY, OCTOBER 9, 2017

Can you be FRIENDS with your EX’S EXES? S

OMETIMES, the best kind of friendship is the one you least expect.

What if that friendship is with your ex-boyfriend’s ex-girlfriend? Can you really be friends with the women who dated your ex? GMA Network has a new series for those who like to look back at their past love lives. It is about three women who formed an unlikely but strong friendship after discovering that at different times in their lives, each of them has been romantically linked with the same guy. The series on primetime TV has intriguing characters and the producers are promising this will be filled with funny dialogue and interesting plotlines. Rhian Ramos, Max Collins, and Lovi Poe, three of the Kapuso network’s prettiest stars, play the three women who at one time have been involved with the same man.

Rhian is Zoe, a happy-go-lucky and flirty swimwear designer and social media darling. She comes from a wealthy family and lives in a unit at an upscale condominium. But she longs for parental love and is desperate for love and attention. Max is Darcy, a strong-willed and practical personal trainer who always speaks her mind. She likes to do things by herself and hates relying on others. She lives alone in a small apartment and gives financial support to her siblings in the province. Lovi is Alex, a workaholic with a sunny disposition and everything she does is on schedule. She works in a cable network and dreams of hosting her own travel show. She is family-oriented and works hard to contribute to her family’s finances. Maryo J. Delos Reyes helms this upcoming program. Will this be another rater when it hits your screens at home? Only NUTAM, or Kantar media will know.

Popular character actor lends voice to Pinoy animation Seasoned actor John Arcilla lends his voice in the upcoming Filipino animation TV series "Barangay 143"

JOHN Arcilla of Heneral Luna fame has been tapped to be the voice of a key character in ASI Studios’ upcoming Filipino animation TV series Barangay 143. He will join the ASI Studio representatives at this year’s MIPCOM, the annual trade show in Cannes in France where the global TV industry converges. The event known as the world’s entertainment content market will happen on Oct. 16-19 at the Palais des Festivals in Cannes. MIPCOM (Marche International des Programmes de Communication) is the annual hotspot where influential international players in the TV and online market meet, screen and network. The Philippine delegation’s attendance this year is through the support of the DTI-Export Marketing Bureau as part of Philippine Export Development Plan (PEDP) 2015-2017 strategy to harness the potential of services where the Philippines can be competitive but have yet to attain comparative advantage.

In particular, under Strategy 1: Design comprehensive packages of support for key and emerging sectors and Mode 2 of the RIPPLES Plus program assistance: Investment, Marketing and Promotion (such as in Overseas Business Matching Missions). Barangay 143 boasts stellar support for the first Filipino anime show. Big names, like Cherie Gil, Jasmine Curtis, Ethan Salvador, Edu Manzano, Jaime Fabregas, Pen Medina and Miko Raval are lending their voices in support of this first Filipino endeavor. The producers of Barangay 143 hope it would make waves among the Filipino and Asian viewers as it tells the tale of a Korean boy, Bren Park, in search of his Filipino father. Bren (Ethan Salvador) is an emerging Korean basketball star whose family dies in a tragic accident. In the process he discovers that his father was Filipino, which sets the stage for his coming to the Philippines. Major influences in his life will be Vicky (Jasmine Curtis)

and Coach B (John Arcilla) who will mentor him on the finer points of life and the game. Coach B whose backstory identifies him as one of the best coaches in PBA is an enigmatic character who has not stopped grieving for his son while trying to be a role model to his local team. Arcilla who started out as a theatre actor for Tanghalang Pilipino and has bagged trophies for Best Actor in Gawad Urian and last year’s Asian Film Awards shows off his prowess in this particular stage where his voice rings true for every emotion. Barangay 143 is brought to you by ASI Studios, a full service animation studio in Quezon City. The studio boasts 130 highly creative artists and trained technical support teams with experience in 2D Traditional, Digital CutOut and Paperless Animation. A collaboration with Manila based Synergy88 Group and Singapore’s August Media Holdings, ASI Studios is at the forefront of animation in the Philippines.

Knowledge Channel "Mathdali" (rightmost) host Robi Domingo got a birthday surprise from host school, Holy Angel University.

‘Red Alert’ anchor Jeff Canoy mentors comm students OVER 800 communication students took home tips and inspiration on how to make relevant and meaningful documentaries in the first two legs of the ABS-CBN Documentary Caravan held on Sept. 20 and 27 at the University of Santo Tomas (UST) and Holy Angel University. A project of the country’s leading media and entertainment company, Knowledge Channel, and the Philippine Association of Communication Educators Foundation, Inc. (PACE), the ABS-CBN Docu Caravan featured a screening of the network’s documentaries and a talk and open forum with awardwinning ABS-CBN News reporter and Red Alert anchor Jeff Canoy, along with producers from ABSCBN Docucentral. The event aims to empower students to use their talents and skills in telling informative and relevant stories through documentaries. Canoy, whose most recent documentary Di Ka Pasisiil on the Marawi

siege with fellow reporter Chiara Zambrano praised by peers and viewers, told the students to focus on the people’s stories. “They should prevent just showing ‘talking heads.’ People don’t want to listen to people talking about stuff. They want to watch something. So, the tip is in all your videos, it’s either you have motion or emotion,” he said. The Docu Caravan served as a good preparation for the students, who were invited to join ABS-CBN’s “Class Project: Intercollegiate MiniDocumentary Competition,” also in partnership with Knowledge Channel and PACE. Eligible students from PACE members of PACE can join for a chance to win cash prizes and to have their work shown on television on Knowledge Channel, which is available on SKYcable and ABS-CBN TVplus. Deadline for submission of entries is on Nov. 20, while winners will be awarded in next year’s “Pinoy Media Congress Year 12.” “We want to listen how

you tell your stories and we want to share how you see things with fresh eyes,” said Danie Sedilla-Cruz, Knowledge Channel head to participants of the ABSCBN Docu Caravan. Canoy reminded students to always aim for the heart of people when telling stories. “The heart never forgets,” said the “Most Trusted TV Field Reporter” in the recent Eastern Visayas State University 3rd Students’ Choice Mass Media Awards. Robi Domingo, who is part of Knowledge Channel’s Mathdali, hosted the program in UST and HAU where the participants that included students from other schools such as Asia Pacific College of Advanced Studies in Bataan, Bulacan State University, Our Lady of Fatima University in Pampanga, Pampanga State Agricultural University, Saint Mary’s Angels College of Pampanga, and Tarlac State University surprised him with a birthday gesture,. Next on the schedule of the ABS-CBN Documentary Caravan is San Sebastian College.

Participants from various schools gathered for the 2nd leg of the ABS-CBN Docu Caravan

For Faster Economic Growth:

D1

MONDAY, OCTOBER 9, 2017

PH looks to golden age of infrastructure

By Darwin G Amojelar

T

HE Philippines dreams of the golden age of infrastructure when gridlock will be a thing of the past and travel time is predictable.

But that image of smooth travel will require an ambitious infrastructure program costing trillions of pesos. The government plans to spend P8 trillion to P9 trillion, or roughly $160 billion to $180 billion, in the next six years for its boldest infrastructure development program, called “Build, Build, Build!” The government this year appropriated P847.2 billion in the national budget for infrastructure projects, an equivalent of 5.3 percent of the gross domestic product. This is higher than the 2.6 percent average infrastructure spending of the last six administra-

tions. The Philippines has never reached the 5 percent of GDP threshold for infrastructure spending in the last 30 years. Infrastructure spending for 2018 alone will rise to P1.13 trillion. Public Works Secretary Mark Villar said its all systems go for the government’s “Golden Age of Infrastructure” program, which aims to build more roads and bridges throughout the Philippines, with the end goal of decongesting the country, and subsequently, promoting inclusive growth and development. Villar said the “golden age of infrastructure” was

DPWH Secretary Mark Villar (from left) along with Metro Pacific Investment Corp. chairman Manuel Pangilinan, DOTr Secretary Arthur Tugade and Budget Secretary Benjamin Diokno lead the groundbreaking of the Cavite-Laguna Expressway Project in Sta. Rosa, Laguna.

not a dream or a powerpoint presentation. “It’s happening now, we funded it,” he said. “I want to re-assure that we are on track and this golden age of infrastructure is all systems go. We are working hard to improve

the lives and you will feel it very soon. We are almost there. I believe in the next two to three years, you will start feeling the infrastructure program,” Villar said. The Public Work’s infrastructure program has a budget of P428 billion this

year, with P107.8 billion to be spent for traffic decongestion, P18.8 billion for convergence and rural road development, P95.9 billion for integrated and seamless transport system and P104.4 billion for livable, sustainable and resilient

communities. “In 2018, we are expecting to spend around 7 percent of GDP [gross domestic product]. This [would be] at par with our Asian neighbors,” Villar said. “The significant increase in the infrastructure budget will be used to fund ongoing and proposed major infrastructure projects, which are vital for sustaining high and inclusive growth,” he added. The Philippines, according to the World Economic Forum Global Competitiveness Report from 2015 to 2016, ranked 95 in the overall quality of infrastructure. The Philippines was behind Singapore, Malaysia, Thailand, Indonesia and Vietnam. “We want to create an infrastructure to bring progress to the provinces, to every corner of this country and ultimately we want to bring down the poverty level of the Philippines from 21.6 percent to 14 percent by

2022,” Villar said. “The significance of this will be lifting about 10 million Filipinos above the poverty line. This program is so essential because in order to do this, we need to pump prime the economy. We need to put the money in areas where it could be productive and in areas that will give us good economic rate of return,” he said. The government targets an economic growth of 6.5 percent to 7.5 percent this year and 7 percent to 8 percent from 2018 to 2022. The Public Works Department said 15 ongoing projects are being implemented by agency that are either locally funded with Official Development Assistance (ODA) loans, or through the Public-Private Partnership (PPP) scheme. The ongoing projects include the Mandaluyong Main Drainage Project (Phase II); Central Luzon Link Expressway, Phase I, Turn to D2

D2

MONDAY, OCTOBER 9, 2017

mst.daydesk@gmail.com

For Faster Economic Growth: ECONOMIC SPECIAL REPORT

Tax reform to fund big projects By Julito G. Rada

T

HE proposed comprehensive tax reform program of President Rodrigo Duterte holds the key to the successful implementation of P8-trillion “Build, Build, Build” program of the government.

Finance Secretary Carlos Dominguez

Finance Secretary Carlos Dominguez III sees the tax measure as the fiscal buffer that will enable the government to pursue its expansionary economic policy anchored on the infrastructure program, consisting of some 75 major flagship projects set for construction over the next five years. The first package of the tax reform program—the Tax Reform for Acceleration and Inclusion Act (TRAIN)—aims to provide the government with sufficient funds to maintain fiscal discipline, while it invests heavily in infrastructure and in programs to expand access to social services such as health and education. The first package was passed in the House of Representatives in May. Dominguez said the tax reform would give the government the fiscal space to pursue the expansionary measures. Without the additional revenues the reform package will bring, the government cannot fully pursue the ambitious infrastructure program. The Department Finance plans to submit to Congress the second package of the tax reform as early as January next year. Dominguez said failure to pass the TRAIN would “be very bad for the government’s infra program,” which, he said, would have to be “whittled down by 30 to 40 percent” without tax reform. The government has identified 75 major infra projects to be undertaken over the next few years under its “Build, Build, Build” program. Of these flagship projects, 18 have been approved by the National Economic and Development Authority Board. Dominguez said “when the shovels hit the ground, expect an economic growth spurt.” Dominguez said aside from ensuring the fiscal space needed for the government’s massive spending on infra and social services, the Duterte administration also has to deal with constraints, such as the

PH LOOKS... From D1 Tarlac-Cabanatuan, Nueva Ecija; Integrated Disaster Risk Reduction and Climate Change Adaptation Measures in the Low Lying Areas of Pampanga Bay; Tarlac-PangasinanLa Union Expressway (Binalonan-Rosario Section), Flood Risk Management Project (FRIMP) in Cagayan de Oro River; and the Sen. Gil Puyat Ave.-Paseo de Roxas/Makati Ave. Vehicle Underpass Project. Villar said all these projects would significantly boost growth and raise productivity and competitiveness. Besides its current projects, the DPWH is also set to either oversee or implement 10 infra projects in Metro Manila and Mindanao. These are the Bonifacio Global City-Ortigas Center Link Road Project; UP-MiriamAteneo Viaduct along C-5/ Katipunan; Metro Manila Priority Bridges Seismic Improvement Project (Guadalupe Bridge and Lambingan Bridge); Widening/Improvement of Gen. Luis St.-Kaybiga-Polo-Novaliches; Cavite-Laguna Expressway; NLEX-SLEX Connector Road; Metro Manila Interchange Construction Project VI; Davao City ByPass Construction Project (South Section (Road) and Center Section (Tunnel); Panguil Bay Bridge, and Phase 1 of the Metro Manila Flood Management Project. The NLEX-SLEX Connector Road is an 8-kilometer, four lane NLEX-SLEX Connector Road that will run from C3 Road in Caloocan City to Sta. Mesa in Manila and will connect to the common alignment of Skyway Stage 3. It will provide connectivity between the Ninoy Aquino International Airport (NAIA) and the Clark International Airport (CRK). It is expected to reduce travel time from SLEX to NLEX from 2 hours to just 20 minutes as

rehabilitation of Marawi City, which will likely cost at least P50 billion, and a new law mandating free tuition and other school fees for all public tertiary institutions, which to date has no clear funding mechanism. “I assure you we will not compromise on fiscal discipline and court runaway debts to please populist demands,” Dominguez said in a recent forum organized by the Economic Journalists Association of the Philippines in Manila. He said while pursuing tax reform, the government would continue reforming its main revenue agencies—the Bureau of Internal Revenue and Bureau of Customs. As a result of the administrative reforms now being put in place in these two agencies, Dominguez said the BIR posted a 9.32-percent increase in collections from January to July against the same period last year. Customs, meanwhile, posted an 11.48-percent improvements in collections year-on-year. Lower income taxes The tax reform bill aims to lower personal income taxes to the regional average and expand the coverage of the value-added tax, increase excise taxes and improve tax administration in order to help fund the administration’s massive infrastructure program. In his presentations before the Senate and the House, Dominguez has said that “between now and 2022, with tax reforms and improvement in tax administration, the government is “looking to improving the ratio of revenues to GDP from the current 15 percent to 17.7 percent” to bring the tax effort to the regional average. The DoF remains optimistic the Senate could wrap up its committee hearings soon on TRAIN so that the Congress could pass the measure later this year in time for its full implementation by January 2018. Finance Undersecretary Karl Kendrick Chua said the DoF remained on track for the Senate to approve [the TRAIN], followed by the bicameral conference committee, then the President’s approval, and the preparation of the implementing rules and regulations. The first package—TRAIN—aims to lower personal income tax rates while, at the same time, widen the base for the valueadded tax and adjust the excise tax rates for fuel and automobiles, among other reform measures. Chua recalled that when the DoF first presented the original TRAIN in tax briefings in September last year, the general reaction to the proposal was negative. But today, an overwhelming majority already favor the tax reform after DoF explained its benefits not only on the income tax side, but also on the spending aspect, which will focus on infrastructure, education, health and other social services. “We have tried to reach out to everyone to [make them] see the importance of passing the entire package. So, they are now looking beyond their sector. Even the rich know that they will get hit by the 35 percent tax on their income, but as (Budget) Secretary Benjamin Diokno said, if the stock market goes to 10,000 they are going to recover it anyway. So, we hope we see this as a package because that’s where everyone benefits,” Chua said.

well as travel time from Clark to Calamba from approximately 3 hours to 1 hour and 40 minutes. The road is expected to benefit at least 35,000 motorists/vehicles per day. The Public Works Department also plans build a 180-kilometer toll road that will start in Pagbilao, Quezon and end at the existing Maharlika Highway in San Fernando, Camarines Sur. Once completed, it will be longer than the 94-km Subic-Clark-Tarlac Expressway, the 89-km Tarlac, Pangasinan-La Union Expressway and the 84-km North Luzon Expressway. The project aims to provide a safe and direct route to the provinces of Bicol, in place of the existing route that traverses through the mountainside and other fragmentary roads. The Quezon-Bicol Expressway will be connected to the P13.10-billion South Luzon Expressway Toll Road 4, a 56.87-kilometer expressway extension from Sto. Tomas, Batangas to Tayabas/Lucena in Quezon. The TR 4 project will reduce travel time from Sto. Tomas, Batangas to Lucena in Quezon from four hours to one hour. The project, which is expected to start this year and will be completed by 2021, will benefit 17,000 travelers per day. Other infrastructure projects under DPWH that are in the pipeline include the PanayGuimaras-Negros Link Project; EDSA-Taft Flyover; Central Luzon Link Expressway, Phase II, Cabanatuan-San Jose, Nueva Ecija; Flood Protection Works in the Marikina River including Retarding Basin; and the Dalton Pass East Alignment Alternative Road Project. Another six big-ticket projects funded through PPPs are also either being proposed by the DPWH or already in the pipeline. These include the R-7 Expressway, Manila Bay Integrated Flood Control, Coastal Defense and Expressway and the Laguna Lakeshore Expressway Dike.

For Faster Economic Growth: ECONOMIC SPECIAL REPORT

MONDAY, OCTOBER 9, 2017

D3

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D4

MONDAY, OCTOBER 9, 2017

extrastory2000@gmail.com

For Faster Economic Growth: ECONOMIC SPECIAL REPORT

Conglomerates joining boom Infra-led economy also boosting property sector By Jenniffer B. Austria

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OCAL conglomerates are finding a way to join the government’s massive infrastructure program despite the administration’s preference to finance several big-ticket projects through official development assistance or government-to-government financing, instead of public bidding.

The government’s “Build, Build, Build” program, meanwhile, is expected to further boost the growth of the domestic property sector by unlocking the land values across the country, according various real estate services firms. Already land values across the country, especially in Metro Manila, have gone up significantly over the past few years and are expected to continue to rise as the administration plans to improve infrastructure nationwide. Conglomerate San Miguel Corp., which has won the NAIA Express project in 2013 through a public bidding, plans to submit as many 10 unsolicited proposals for the government’s consideration. San Miguel already submitted an unsolicited proposal to build a P700-billion international airport in Bulacan province and a P27billion Manila-Tagaytay toll road project. It also proposed to build a $2-billion flood control project to help solve flooding problems in Metro Manila. Ayala Corp. and SM Investments Corp have teamed up to submit a P25billion unsolicited proposal to build an 8.6-kilometer elevated tollroad linking Sta. Mesa, Manila to the Mall of Asia complex in Parañaque City.

Infrastructure conglomerate Metro Pacific Investments Corp. offered a P25billion unsolicited proposal to build an expressway connecting Cavite, Tagaytay and Batangas. Metro Pacific in partnership with Ayala also offered to acquire Mass Railway Transit 3 from the government for P12 billion. Meanwhile, Megawide Construction Corp., which won several infrastructure projects during the previous administration, submitted proposal to build a second runway and expansion of the airport for P208 billion. A consortium composed of Filinvest Development Corp. and JG Summit Holdings Inc. promised to turn Clark International Airport into a world-class facility by 2020, if the government accepts their P186.64-billion unsolicited proposal. These conglomerates are hoping that the government, which earlier expressed openness to unsolicited proposals to speed up infrastructure development in the country, will review and act on their offers. Unlocking land values While the Philippines continues to enjoy robust economy growth over the past few years due to remittances and strong consumer spending, Colliers Philippines research manager Joey Roi Bondoc said much of the country’s expansion

would hinge on increassed infrastructure spending. “The ushering in of the “golden age of infrastructure” also lends support to the government’s decentralization push which should unlock land values in areas outside of Metro Manila and stimulate business activities in the countryside,” Bondoc said. “Over the near to medium term, we see the Philippines sustaining robust growth on the back of the government’s infrastructure and decentralization push. Among the key economic segments that will benefit from the government’s thrust is property development. Infrastructure implementation coupled with decentralization should spur the growth of office, residential, retail, industrial, and hotel & leisure segments,” he added. Davie Leechiu, presi-

dent and chief executive of Leechiu Property Consultants, said the robust domestic economy and the expected inflow of foreign investments following the signing of investment and trade deals with various Chinese and Japanese firms were expected to fuel the growth of the property sector. “Over the last 12 months we’ve seen various PPP deals being signed in Japan and China. We estimated that by the fourth quarter of this year or first quarter of 2018, we will see these deals translate into actual employees being hired and office space take up not just in Metro Manila by in other parts of the country,” Leechiu said. Because of the positive outlook on the domestic property sector, several property firms are accelerating their expansion plans

for office, retail and residential projects, as well as industrial zone and warehousing developments. More office spaces Leechiu expects another 4.27 million square meters of office spacefrom 2017 to 2023, as property firms roll out office projects that primarily cater to the business process outpouring industry. This will add to the market’s current office supply of 8.74 million sq. m. Despite the completion of new office space supply, Leechiu said rents remain at record highs. Rent rental rate for office space in Makati and Bonifacio Global City currently ranges from P900 to P1,300 per square meter, while those in Ortigas, Quezon City, Alabang and Bay Area hover around P400 to P800 per square meter. BPO firms are also expanding outside the Metro

Manila and Cebu, with companies now willing to go to Iloilo, Dumaguete, Palawan, Baguio, Cagayan de Oro and even Tuguegaro to tap the skilled workers in these areas. The residential market has benefitted, too, from the robust economy as land values of residential condominiums as well as villages continue to go up. “Rising rates in high-end residential condominiums market motivate landlords to develop more projects,” Leechiu said. He said several cities this year hit high new record highs in terms of land values. Land prices in Bonifacio Global City are expected to hit P1 million per square meter, up 33 percent from a year ago level, while those in Filinvest City in Alabang are expected to reach as high as P365,000 per sq.

m, up 35 percent from last year’s level. Rise of new sectors The steady growth of the economy has fueled the growth of other sectors of the property market, such as industrial and warehousing development, as well as dormitories and commercial and retail projects. Given the increased economic activity across the country due to expansion program of various companies and the interest from foreign manufacturers, the market expects an increase in capital values of warehouse, logistics and manufacturing sites in Metro Manila. There are now 70 industry parks with over 133,000 hectares of land, according to Leechiu. As the government puts up more airports, ports, toll roads and infrastructure to ease the movement of cargoes, Leechiu expects more companies to consider going to next wave cities in Bulacan, Pampanga, Laguna and Batangas. And as more BPO firms expand in the provincial areas and increase the spending capacity of workers, property developers are expected to increase their retail portfolio in these new areas. Most of the mall expansions of big shopping mall developers, for instance, are now geared to areas outside Metro Manila. SM Prime Holdings Inc. opened five malls outside Metro Manila this year. These are SM CDO Downtown Premier in Cagayan de Oro, SM Cherry Antipolo in Rizal, SM Center Tuguegarao Downtown in Cagayan, SM City Puerto Princesa in Palawan and SM Center Lemery in Batangas.

Smoke billows from burning houses as fighting between government troops and Islamist militants continues in Marawi on the southern island of Mindanao in this July 3, 2017 file photo. AFP

Rehabilitating Marawi a challenge REHABILITATING Marawi City, like widespread poverty, will be the one of the biggest challenges facing the government. Images of the war-torn city splashed on the front pages of newspapers and television channels show the extent of the damage inflicted by extremists on the predominantly Muslim capital. Marawi City must rise from the ashes, but reconstructing it will require massive funding through an integrated approach. Certainly, as President Rodrigo Duterte conceded, P50 billion will not be enough to rebuild the city. The World Bank, foreign governments and other multilateral financing institutions this early have pledged billions of dollars to rebuild Marawi and restore order in the city. The bank sees Marawi’s reconstruction as a development task that parallels its early efforts right after World War II. One also cannot isolate Marawi’s rehabilitation from the current efforts to develop the whole of Mindanao island. Marawi is an integral part of Mindanao, which itself has suffered from government neglect for several decades. Any reconstruction job on Marawi will ultimately involve the

entire Mindanao. The World Bank, for one, is committing multi-million dollar loans to fund projects for agriculture and education in Mindanao. Beyond the physical rehabilitation of Marawi City and Mindanao, the bank committed to focus its funding to support the government’s program to raise agricultural productivity and improve connectivity from farm to market, boost education, skills, and employability of the youth, and help build resilient communities. Creating job opportunities and providing education will be the key to Marawi’s reconstruction efforts and Mindanao’s development. Poverty and lack of education have driven part of Mindanao’s population to join the rebellion in the island or sympathize with the cause of Muslim extremists. Infrastructure projects like roads, bridges and airports will also be critical in the development of Mindanao and the rehabilitation of Marawi. Farmers and fishermen must be given access to sell their crops and harvests to the urban cities. All reconstruction and development efforts must be inclusive to bring about progress and peace in the neglected south.

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ECONOMIC SPECIAL REPORT

Steel makers revving up production By Othel V. Campos

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HE steel and cement sectors, two of the major industries that support the construction sector, are motivated to carry out their part in the “Build, Build, Build” program of the government despite the lack of capacity. Both industries have been registering sales growth, supported by imports, in the recent three years due to the demand from the expanding property sector. With the accelerated infrastructure program, the steel and cement industries are anticipating the renewed commitment of the government to support the construction of more public and private infrastructure projects. Stable prices may define steel

and cement products for now, but the lack of domestic capacity may raise prices as the infrastructure program accelerates in the succeeding years. Cement price, for one, is stable at P175 to P190 per bag, but the steel price is a different story. The recent spikes on the global price of semi-processed steel, or billets, and finished steel products have raised prices to around $560 per metric ton. Prices may

continue an upward trend as more Chinese mills are forced close shop due to highly-polluting operations. About 800 mills in China have shut down so far.

The government allocated P9 trillion to to fund the ambitious BBB, while the private sector has committed as much as $33 billion worth of financing and investment

deals with China and Japan. Revving up steel output Even without the BBB, the steel industry plans to plug the shortfall in production to attain self-sufficiency and penetrate foreign markets in the long run. “The steel industry has been growing in the last six years. This year we expect about 6 to 7 percent growth over last year. It normally tracks the GDP but in the last 5 years, our record showed that the sector has been growing more than twice the country’s GDP,” said Philippine Iron and Steel Institute president Roberto Cola. “But this year, we’re already at the threshold of a high base, it may drop 7 percent since GDP is also expected to maintain sharp

growth,” he added. PISI is the steel industry’s vanguard to safety and compliance to global standards. Crude steel production, according industry data, rose 11 percent to 1.075 million metric tons in 2016 from 968,022 MT in 2015. Finished steel production grew 2 percent to 5.791 million MT from 5.683 million MT, while finished steel imports increased 11 percent to 5.497 million MT from 4.917 million MT. Finished steel exports were flat at 100,000 MT. Limited capacity The PISI conceded that the industry was not prepared to take on the challenge but the

Cement companies firm up expansion plans By Jenniffer B. Austria CEMENT manufacturers are firming up expansion plans as they gear up for the expected increase in demand for cement and other construction materials as the government accelerates its “Build, Build, Build” program. Cements producers like Republic Cement of the Aboitiz Group and Holcim Philippines announced de-bottlenecking plans that will add capacities to their current output, while Eagle Cement of businessman Ramon Ang is busy putting up a new plant in Cebu to expand its presence in the Visayas-Mindanao area. The additional capacities are expected to supply the expected spike in cement demand from 26 million metric tons in 2016 to about 35 million MT over the next three to five years, after the government announced plans to roll out over P3.6 trillion in public infrastructure projects from 2018 to 2020. Holcim Philippines said it would invest $54 million over the next two years to expand production to 12 million metric tons from the current 10 million MT. “The company will invest $54 million

in the next two years to add two million metric tons to its current cement capacity by the first half of 2019, particularly in La Union and Davao,” Holcim Philippines president and chief executive Sapna Sood said. “This investment continues the company’s successful de-bottlenecking of all sites in 2016 that already raised cement capacity to 10 million metric tons from 8.5 million,” she added. The expansion is expected to strengthen the company’s position as the leading cement company in the Philippines. Republic Cement likewise announced plans to spend up to $300 million over the next three to five years to expand its capacity in the Philippines. The expansion plans, which will add one million MT to the company’s current seven million MT capacity, involves the de-bottlenecking of six cement plants and the construction of a new kiln. Eagle Cement is spending P12 billion to build a new cement facility in Cebu with a target capacity of two million MT per year. By next year, it will complete a third cement production line in Bulacan that will add another two million MT in capacity.

The expansion plans are expected to put Eagle Cement as one of the leading cement companies in the country in terms of production output. Demand still weak While the industry awaits the rollout of infrastructure projects that the government has committed to build, cement companies are grappling with declining profits and revenues due to a weak cement demand since the start of the year. Compounding the weak demand are the decline in prices and surge in cement imports. CEMEX Holding Philippines Inc. earlier reported a 69-percent decline in profits in the second quarter of the year to P136 million. Sales, meanwhile, dipped 12 percent to P5.6 billion. Holcim Philippines also booked a 4percent decline in second quarter profits to P1.2 billion as sales dropped 20.4 percent to P8.6 billion on year. Only Eagle Cement that managed to post a higher income on efficient operations. Cement companies, despite these current situations, however, remain bullish over the medium term period.

Republic Cement Norzagaray Plant

Republic Cement Batangas Plant

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ECONOMIC SPECIAL REPORT

China, Japan wooed for $135-b power push

Investments in PPP projects still sluggish By Othel V. Campos

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OCAL businessmen are disappointed over the slow movement of investments geared to modernize the country’s infrastructure, with just P31.77 billion worth of four projects out of the 37 identified under the Public-Private Partnership scheme. Only a handful of projects from among the foreign projects generated by numerous state visits that started in 2016 are moving after gaining the nod of approving agencies. The presidential visits resulted in several investment agreements amounting to $37 billion, official development assistance commitments of $18 billion and trade worth $4.3 billion as of June 2017. “I think we should give the government at least until the first quarter of 2018. By then, contracted projects from China should be coming in,”

said Philippine Chamber of Commerce and Industry chairman emeritus Francis Chua. China and Japan were among the first to offer developmental programs on infrastructure, such as roads, bridges, seaport and airport improvements. The projects could come in as PPP, ODA or special projects. The most advanced among the ODA projects are the two bridges set to be constructed in Pasig City to be undertaken by Chinese contractors. Chua noted a seeming distrust on China-related projects, while none of the projects were contracted to Japanese companies. “Once the Chinese projects have started rolling in, we hope that this culture of distrust for anything Chinese will soon dissipate,” he said. The government, he added, wants to all projects, whether PPP or ODA, to be completed in the face of unexpected adversities. As of September 15, 2017, only four PPP projects were approved and operational. These are the P2.23billion Daang Hari-SLEX Link Road Project 2, the P9.89-billion PPP for School Infrastructure Project (PSPI)

Phase I, P1.72-billion Automatic Fare Collection System and the P17.93billion NAIA Expressway (Phase II) Project 4. Under construction are the P3.86billion PSIP phase II, P7.52 billion Mactan-Cebu International Airport Passenger Terminal Building, P37.43billion Metro Manila Skyway (MMS) Stage 3 Project 6, P37.43-billion Metro Manila Skyway (MMS) Stage 3 Project 6, P2.5-billion Southwest Integrated Transport System (ITS), P62.7-billion LRT Line 7, P24.41Bulacan Bulk Water Supply Project, and the P1.59-billion Civil Registry System Information Technology Project phase II. Those under pre-construction stage include the P64.9-billion LRT Line 1 Cavite extension and O&M, P35.43billion Cavite-Laguna Expressway, P5.2-billion South Integrated Transport System Project 9, and the P23.2-billion and NLEx-SLEx connector road. PPP projects in the pipeline are the O&M of LRT Line-2, road transport IT infrastructure project, regional prison facilities, LRT line 6, Manila Bay Integrated Flood Control, Coastal Defense and Expressway, East-West

Rail project, Clark International Airport expansion project; New Nayong Pilipino at Entertainment City project, Philippine National Railways Commuter System Operation and Maintenance Component 10, Integrated Transport System-North Terminal Project, San Ramon Newport Project; Cebu Bus Rapid Transit-system manager and operator contracts, Duty Free retail development project, One DTI building complex project, Motor Vehicle Inspection System Project, Clark International Airport Operations and Maintenance, Judiciary Infrastructure Development through PPP project; Metro Manila Bus Rapid Transitsystem manager and operator contracts, New Bohol (Panglao) Airport O&M, Bonifacio Global City-NAIA BRT Project and the National Broadband Plan-Accelerated Tower Build project. “The counterpart funding for these projects, if there is any, had been allocated as a component of the Build Build Build program. Infrastructure spending may reach P9 trillion until 2022,” Chua said.

THE Philippines is seeking investment from China and Japan for $135 billion worth of power projects that President Rodrigo Duterte’s government is ready to fast-track. The Southeast Asian nation has held discussions with China, Japan, Russia and other countries about helping it boost generation capacity by 43 gigawatts in the coming decades to stabilize its power supply as the economy expands, according to Energy Secretary Alfonso Cusi. Projects endorsed by his office will be approved within 30 days under an order recently signed by Duterte, instead of the months or even years it had taken proponents in the past, he said. “There’s a lot of expressions of interest to invest in the Philippines, and we’re going to make it easy for investors,” Cusi said in an interview in August. “We are open to all parties, all countries. In all the trips we had, we made the sales pitch.” The world’s two biggest economies after the US have poured billions into the region’s energy development. Japan has either sponsored or financed 21 projects with a combined value of $23.7 billion that are currently under construction or planned in Southeast Asia, while China has backed 21 projects worth $32.8 billion, according to BMI Research. Duterte has tried to develop closer ties with China since taking power last year as he seeks both new power plants and offshore gas resources, particularly for the island of Luzon that accounts for about two-thirds of the economy but has precarious electricity supplies. The forecast power needed through 2040—roughly three times the generation capacity of Singapore—will support economic growth encouraged by airports, railways and bridges that the president has promised to build, Cusi said. The Philippines also plans to start building by next year a P100-billion ($1.95 billion) liquefied natural gas terminal to supply plants that generate a combined 3.5 gigawatts of power. The facilities now rely on the Malampaya gas field off Palawan province, which is expected to be depleted by 2024. LNG imports The LNG terminal project, to be built in Batangas province south of the capital Manila, will have an initial annual capacity of 5 million metric tons when it starts by 2021 and will include a power plant with a capacity of between 200 megawatts and 800 megawatts, Cusi said.

It will later be expanded to 10 million tons, as the nation has ambitions to be a LNG trading hub for Asia, Cusi said. Tokyo Gas Co., Osaka Gas Co. and Mitsui & Co. have been “nominated” by the Japanese government for the LNG project, which will be developed by a consortium headed by state-run Philippine National Oil Co., Cusi said. Private Philippine Turn to D7

Infrastructure and the economy INCREASED investment on infrastructure is one of the key elements in sustaining Philippine economic growth. It is the catalyst that will expand the economy to greater heights and put the Philippines at least at par with its neighboring countries in Southeast Asia like Malaysia and Thailand. The Philippines’ ambitious P8.44-trillion “Build, Build, Build” program is a shot at expanding the economy and making growth inclusive to the benefit of the greater population. But slow government spending and delays in the construction of bigticket infrastructure projects will defeat the objective of the state. The World Bank this early noted the sluggish pace of the government’s infrastruc-

ture program, prompting the multilateral institution to slightly downgrade the 2017 growth forecast for the Philippines to 6.6 percent from the previous estimate of 6.8 percent. Says the World Bank: “The delay in the anticipated push of the planned government infrastructure program has been contributing to the moderation of fixed capital formation growth, softening the growth prospect for the year.” “The pace of economic growth could be slower if the government is unable to timely deliver on its planned infrastructure program. Complementary reforms to address budget execution and implementation bottlenecks and to ensure high quality of spending are needed,” it added.

STEEL... From D5 expansion of dominant local players is expected to partly address the problem in about three years. “We expect the BBB to endure at least for the next 15 years. Local players will definitely catch up. Despite the country producing a select variety of steel products such as reinforcing bars and angle bars, production of flat steel and other long steel products will soon debut once the ongoing expansion of steel mills ends in 2 to 3 years,” Cola said. Demand is expected to hit 10 million MT or more in 2017, the body said. Flat steel will comprise about 39 to 40 percent of the expected demand while long steel will account for 60 percent. Consumption of semi-finished steel or billets grew to 4.223 million MT in 2016, 9 percent higher than 2015’s 3.854 million MT. Local billet production rose 11 percent to 1 million, while imports grew 9 percent to 3.148 million MT. Billets are the raw materials used to produce flat steel products from hot and cold rolled steel, such as roofing, plates for

Infrastructure projects like toll roads, bridges, airports and seaports, post-harvest facilities and rail networks increase the flow of goods and services. They give the countryside access to the the market that is usually found in urban centers. They serve as an incentive to produce more and create a multiplier effect that translate into increased employment. With more jobs created, the Philippines is effectively reducing poverty incidence. Authorities and policymakers, thus, must see to it that the spending program on infrastructure is on track to achieve the economic growth target. Sluggish spending and delays in the execution of projects should be the exception rather than the rule.

shipbuilding, tin plates for packaging and wires. Flat products are mostly imported since the domestic steel industry still lacks the capability to produce these products due to huge investments needed to set up. Billets comprise about 90 percent of total importation cost. About 81 percent of domestic production goes to the construction industry, while the rest is used in fabrication, shipbuilding, manufacturing and flat steel production. Billet production PISI noted that instead of exporting scrap metals only to be imported as billets, the local industry must have the necessary capacity to process scrap metals to significantly augment the local supply and reduce importation. Among the big steel players, the Steel Asia Group plans to expand its billet production by another 500,000 MT to 1 million MT to attain 50 percent self-sufficiency in production for internal consumption. Cathay Pacific Steel Corp. also operates an electric furnace with the capacity to produce 200,000 MT of billets. The Philippines has about 20 rebar manufacturers, seven angle bar makers, 12 billet producers and 8 galvanized iron sheet manufacturers.

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ECONOMIC SPECIAL REPORT

Govt says more contractors needed By Othel V. Campos

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NREGISTERED contractors are being called to support the government’s massive infrastructure program.

CHINA,... From D5 companies are welcome to join, he added. Tokyo Gas and Osaka Gas don’t have firm plans to join Philippine power projects, but are looking at the opportunity, spokesmen from both companies said. The two firms, along with Mitsui, signed an agreement in June to consider joining the LNG project, the spokesmen said. A spokesman for Mitsui didn’t respond to a request for comment. China has committed to a $6 billion investment in the Philippine energy sector. Building fossil fuel-fired power plants and renewable energy projects were “extensively” discussed with Chinese companies, which were also invited to take part in the LNG project, Cusi said. The Philippines will decide on its LNG terminal partner this

year. “I think we can only marry one,” Cusi said, when asked if both Japanese and Chinese investors can be part of the consortium. The Southeast Asian nation’s total installed capacity rose 14 percent to about 21.4 gigawatts last year, with Mindanao posting the highest growth at 31 percent, according to Department of Energy data. That’s left the southern island with a 33 percent power-reserve margin, which measures the amount of maximum capacity available above peak demand. Visayas has 22 percent, while Luzon only has 7 percent. The government is planning to spend P52 billion to link the three island regions so they can share power, Cusi said. South China Sea “We are at that level where we have a very thin reserve,” he said about Luzon. In the South China Sea, the Philippines wants to soon lift

a moratorium on oil and gas exploration as part of a “strategic, win-win” solution with China. Cusi said his office is seeking to allow a consortium led by PXP Energy Corp. to resume drilling at Service Contract 72, which contains the Sampaguita gas discovery that holds an estimated 11.4 trillion cubic feet of reserves. The exploration area also includes the Reed Bank, claimed in part by both countries. “We would really like to be pragmatic in our approach” to joint exploration, Cusi said. “Now, the pathway is becoming clearer.” The Philippines plans to sign a contract with China National Offshore Oil Corp., which was never completed, for joint exploration in uncontested areas, Cusi said. A spokesman for the Chinese company didn’t respond to requests for comment Thursday. Bloomberg

The Construction Industry Authority of the Philippines, the government regulatory agency for the construction sector, issued the call even before the government unveiled its ambitious “Build, Build, Build” program. “We have to assert authority over the industry. There is an even more compelling reason to cajole contractors to register with us. We want them to have a taste of the golden age of infrastructure by operating as a legal entity, However small they are, there is a space for them in the ongoing BBB program,” CIAP head and Trade Undersecretary Ruth Castelo. The Philippine Contractors Accreditation Board as of July 24, 2017 issued 9,670 contractors’ licenses in 2016-2017, 80.8 percent of which were for renewal contractors and 9.2 percent as new entrants. In terms of size, large contractors—AAAA, AAA & AA—accounted for 5.3 percent of the total contracting population. Medium-sized contractors—A & B—comprised 32.1 percent, while small contractors—C, D, Trade/E—still remained the majority of licensed contractors at 62.6 percent. CIAP, an attached agency of the Trade Department, monitors downline agencies tasked with specific functions, comprising of PCAB, Philippine Overseas Construction Board, Philippine Domestic Construction Board,

Construction Industry Arbitration Commission and the Construction Manpower Development Foundation. CIAP is the central authority in the Philippine construction industry in terms of construction policy and program formulation, development and implementation. It is mandated by law to promote, accelerate and regulate the Philippine construction industry in conformity with national goals. Limits decried Many construction players and some government agencies have criticized CIAP for imposing limits to the entry of foreign contractors. But the agency said it was open to foreign contractors since 36 years ago. “It is only lately that we’ve open the industry to 100 percent foreign participation but we have accommodated foreign construction firms on a 60-40 arrangement. But the fact that the industry is now open to full foreign participation does not mean it can skip regulation. They still need to register if they want to operate in the Philippines. No company, foreign or local, is exempted from regulation,” said Castelo. While foreign undertaking of a Philippine project is now fully allowed, foreign participation in government projects is still based on a 60-40 arrangement. Those projects under the PublicPrivate Partnership scheme give foreign contractors 100 percent authority. For foreign-funded government projects, foreign contractors are allowed to participate 100 percent under special license. Similarly, for locallyfunded projects, foreign contractors are allowed 100 percent participation through the grant of a

regular license. Foreign contractors seeking AAAA license are allowed by the government as long as they can produce at least P1 billion in equity deposited at a Philippine bank as proof that they can finance the project. The Construction Accreditation Board will check the company’s integrity and documentary requirement. Infrastructure plan The Philippine Development Plan 2011-2016 identified the country’s insufficient infrastructure as a key constraint in achieving inclusive growth. The logistics master plan envisions to advance Philippine competitiveness through the establishment of an efficient transport and logistics sector that will contribute toward a robust and resilient Philippine economy. In addition to the policy thrusts and initiatives of the government and the priority sectors we are promoting, the Philippines recognizes the importance of infrastructure development to economic growth in terms of productivity and efficiency, and to the ordinary citizens in terms of mobility and access to basic utilities. Thus, one of the priorities of the government is the development and implementation of infrastructure projects to further ease doing business in the Philippines and facilitate the smooth flow of people, goods and services. ”We have a lot of opportunities for investors especially as the Duterte administration is very keen to spend on infrastructure development. The Philippines will benefit from better infrastructure in power and utilities, roads and bridges, water and sanitation, and railways, airports and ports, ICT, security and defense,” Castelo said.

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By Darwin G Amojelar

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RAIL network will soon link the entire Philippines and provide seamless travel from the northern to the southern tips of the archipelago. The Department of Transportation is building more train lines across the country as part of the Duterte administration’s “Build, Build, Build” infrastructure program to decongest Metro Manila and provide faster connectivity in provinces. “We hope to finish the term of President Duterte with at least 1,000 kilometers of railway system all over the country,” Transportation Secretary Arthur Tugade said. One of the ambitious railway projects of the government is the PNR North or Manila-Clark

Railway Project, a 106-kilometer line connecting Manila to Central Luzon that will tremendously reduce travel time by as much as 70 percent. The project can cut travel time from Tutuban, Manila to Clark, Pampanga to 55 minutes from the current two to three hours. The rail line will have a total of 17 stations that will run from Tutuban passing through Marilao and Malolos in Bulacan province and all the way to the Clark International Airport and the proposed New Clark City in Tarlac

A longer railway system will link the archipelago province. The PNR North railway project is one of the 61 infrastructure projects under the Build, Build, Build program of the Duterte administration. It will begin construction later this year and is set for completion in 2021. It is designed to accommodate 350,000 passengers daily on its opening year. Other rail projects include PNR South (Manila–Los Baños–Bicol) and Mindanao Railway. MRT-7, LRT-2 East Extension and LRT-1 Cavite Extension projects are all

undergoing construction. The agency also plans to construct the P355.6billion Metro Manila Subway Project, which is expected to start by the fourth quarter of next year. The first phase of the Metro Manila Subway will run from Mindanao Avenue in Quezon City to FTI in Taguig and terminate at the Ninoy Aquino International Airport in Parañaque City. Connectivity “I need to have that connectivity. I have a big problem with NAIA because of the projected increase in volume of pas-

sengers,” Tugade said. The subway alignment originally has 13 stations, starting from Mindanao Avenue and ending at FTI Taguig. This is seen to cut travel time from Quezon City to Taguig to just 31 minutes. The Transportation Department also plans to build the 102-km Mindanao Railway Project: Ta g u m - D a v a o - D i g o s (MRP-TDD) segment, which is expected to reduce travel time from Tagum City, Davao del Norte to Digos City, Davao del Sur from 3.5 hours to 1.3 hours once it

starts operating in 2022. The MRP-TDD segment is the first of the three segments of the Mindanao Railway Project. The design and construction of the project will begin by the third quarter of next year and is expected to be completed by the end of 2021. The MRP-TDD aims to make travel faster, safer, more convenient and comfortable for passengers in the Mindanao corridor. It will have eight stations: Tagum; Carmen; Panabo; Mudiang; Davao Terminal; Toril; Sta. Cruz; and Digos. A

10-hectare depot will be built in Tagum. The rail line will be built with a single track, with provisions for future tracks and electrification. It will have six 5-car passenger trains (Diesel Multiple Units) with 3 spare cars, 4 locomotives and 15 freight cars. Upon project completion, the DOTr expects the daily ridership of the Tagum-Davao-Digos segment to increase to 134,060 by 2022. The department projects the daily ridership to further increase to 237,023 by Turn to E2

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Agri needs farm-to-market roads By Yana Argarin

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N INFRASTRUCTURE program that leaves out the agriculture sector and its millions of farmers will not succeed. Farmers, fishermen and livestock growers also need roads and pockets of infrastructure to deliver their produce to the market.

The Samahang Industriya ng Agrikultura, thus, is urging the government to increase the budget of the Department of Agriculture and invest more on the country’s agriculture sector. SINAG executive director Jayson Cainglet said while the government’s Build, Build, Build program focuses on infrastructure, transportation and urban development, support for the agriculture sector remains low. “Unfortunately, the agriculture sector is still not a priority. DA’s budget is still low,” said Cainglet. The DA earlier proposed for P218-billion budget for next year, and only P60.6 billion was approved. Agriculture Secretary Emmanuel Piñol has asked for an additional P20 billion for 2018 to fund the construction of more farm-to-market roads (FMR) in the country. “We have a backlog of about 13,000 kilometers for the FMR. The 2018 FMR budget is only about P6 billion and that’s not enough because that will only equate to 600 kilometers of FMR at average cost of P10 million per kilometer,” said Piñol. “If we have a backlog of 13,000 km, and with this kind of budgeting, by the end of 2022, we will only be able to finish about 3,000 kilometers. There will still be 10,000 km left and we will not be able to accomplish what the President want us to do which is to complete the FMR program,” Piñol said. “I am asking for no less than P20 billion for FMR and they promised that since the budget has already been submitted by the President, the best they can do is to get budget from nonessential programs,” added Pinol. The agriculture official is also pushing for the rationalization of the Farm-to-Market Road program in a bid to create a single network of roads in the country. Piñol asked Senator Loren Legarda and the Department of Budget and Management to rationalize the FMR program. “Right now, DA is not the only one which is implementing the program. PCA (Philippine Coconut Authority) has its own FMR program, DAR (Department of Agrarian Reform) and DILG (Department of Interior and Local Government) also run their own FMR program. The National Irrigation Administration also has the irrigation road program and SRA (Sugar Regulatory Administration) has sugar road program. I asked if it’s okay to rationalize so we can have one network which is well coordinated for the implementation of the program,” he said. Piñol said a well-coordinated network would help the government to save more money. “If a lot of (agencies) implement the rural road program, it is possible that the network of rural roads over the country will not be completed. The (rationalization) will help the government to save more money and will also help us in rational planning,” said Piñol. Megaprojects not needed Cainglet said the agriculture sector does not need mega projects. “What the sector needs are farm inputs, post harvest or post production facilities, subsidized quality seeds, fertilizers, pesticides for crops, quality corn and other feed substitutes for livestock, irrigation services, warehousing and silos, cold storage facilities, dressing plants and slaughterhouse,” said Cainglet. He noted that while FMRs could help in the transportation of agricultural products, these often led to the conversion of agricultural land into real estate and other land use.

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2032 and 375,134 by 2042. 2 news stations In Manila, the government is building two additional rail stations as part of an expansion. Tugade appealed for patience and understanding from the commuting public while the two new stations are being constructed. The construction may cause traffic congestion in the affected areas. “This will cause a bit of inconvenience. The construction will cause a bit of traffic but we should get this done. Panandaliang hirap pero ang kapalit ay pangmatagalang ginhawa,” he quipped. LRT-2 East Extension Project is a 4-kilometer extension of the existing LRT-2 System from Santolan, Pasig City to Masinag in Antipolo, Rizal. Two additional stations will be built, namely the Emerald station, which will be located in front of Robinsons Metro East and Sta. Lucia in Cainta, Rizal, and

Agriculture Secretary Emmanuel Piñol

“We don’t need FMRs unless areas are too far flung. If there are FMRs, real estate developers and tourism come in,” said Cainglet. Piñol said the DA was doing its best to improve the sector and help the farmers and fishermen. He cited the 10-year fisheries road map that would identify the needs and priorities of the fishery sector. He said the road map would pinpoint the problems and challenges in the fisheries industry and the required government interventions. “While the Philippines ranks first among the countries of the world with the longest coastal lines at 39,284 kilometers, the country continues to import fisheries and aquatic products to fill the needs of the local market,” Piñol said. He said among the biggest problems confronting the fisheries and aqua industries were the depleted freshwater fish sources because of overfishing and destructive fishing practices. Piñol said the road map would also identify the rich fishing grounds of the country and establish post-harvest facilities, like ice plants and cold storage. Rice warehouses The agriculture chief is also pushing for the creation of a task force that will inspect all rice warehouses in the country. He said the body would be composed of members from the Department of Agriculture, National Food Authority, Department of Trade and Industry, Bureau of Internal Revenue, Philippine Statistics Authority, National Bureau of Investigation, Bureau of Customs and the Philippine National Police. Piñol said that in order to establish a credible stock position, the government should factor in the smuggled rice which enters the country, “That’s why we need to inspect the warehouses, all warehouses in the country because that’s the only way,” he said. Piñol said the task force aimed to prove that there is enough rice supply in the Philippines. The group must establish the actual rice stock situation so that the government could come up with the correct statistics as the basis of a sound agricultural planning, especially when it comes to the country’s rice production program. “Hopefully, the Task Force will be able to give us an accurate baseline information and a very clear picture of the rice industry in the country,” Piñol said. The National Irrigation Administration, meanwhile, vowed to fulfill President Duterte’s marching order for a free irrigation service fee. NIA said more and more irrigators’ associations were signing up with the new Irrigation Management Transfer contract, which outlines core guidelines in the free irrigation policy. The agency as stipulated in the contract will no longer collect ISF current accounts from the farmers. “NIA is no longer collecting fees for irrigation as ordered by the President,” said NIA spokesperson Pilipina Bermudez. Bermudez, however, clarified the ISF back accounts were still subject for collection in the absence of a final ruling on the condonation of the unpaid irrigation service fee.

the Masinag station, which will be located before the Masinag Junction in Antipolo City. These stations are expected to accommodate 80,000 passengers a day. Once completed, the extended line is expected to significantly cut the commuting time from Masinag in Antipolo to Claro M. Recto in Manila by 30 to 40 minutes from an average of 3 hours of driving on the road. The construction of stations is set to be finished in August 2018. Other ongoing rail projects include the MRT 7 that will link Quezon City and Bulacan as well as the extension of the existing LRT Line 1 up to Cavite. Aside from extensive rail development, the DOTr is also implementing at least three Bus Rapid Transit (BRT) systems, establishing 77 km of segregated busways and improving pedestrian and bikeway facilities. These include the Cebu BRT, the Quezon Avenue BRT, and the Central Corridor (EDSA) BRT. Several other BRT systems and corridors are also being studied by the DOTr.

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ECONOMIC SPECIAL REPORT

Expressways, airports emerging By Darwin G. Amojelar

P

lines.

RESIDENT Rodrigo Duterte’s ambitious infrastructure program will not be a success if big major companies are kept on the side-

Philippine conglomerates, on their own, are proposing infrastructure projects worth P1.33 trillion in support of the government’s “Build, Build, Build” program. The country’s big conglomerates, namely San Miguel Corp., Ayala Corp., SM Group, Philippine Airlines and Metro Pacific Investments Corp. vowed to help the government in achieving its “Golden Age of Infrastructure” by building new expressways and airports to solve the land and air traffic congestion in the Philippines. The Japan International Cooperation Agency earlier estimated the cost of traffic at P2.4 billion a day. Without intervention, Jica estimated traffic costs would increase to P6 billion a day. The MPIC Group submitted an unsolicited proposal to build the P60-billion C5 Expressway

Project, a 21.8-kilometer all-elevated expressway from the end of NLEX Segment 8.2 in Luzon Avenue, Quezon City to Cavitex C-5 South Link. It will complete the missing segment of the C-5 Circumferential Expressway alignment, a crucial component of the Metro Manila Urban Expressway Network. The conglomerate also proposes to construct the P62.43 billion NLEX-Cavitex Port Expressway Link Project, which aims to connect North Luzon Expressway (NLEX) and Cavite Expressway (Cavitex). San Miguel is proposing to build a P700-billon new international gateway in Bulacan, which aims to decongest the Ninoy Aquino International Airport. San Miguel wanted to build an airport with at least four runways and covering 2,000 hectares in Bulacan towns near Manila Bay.

Workers at the Skyway Extension along Araneta Avuenue in Tatalon, Quezon City. Revoli Cortez

Lucio Tan-led PAL also submitted an unsolicited proposal to build a P20-billon new passenger terminal beside its current hub at the Ninoy Aquino International Airport Centennial Terminal 2 to accommodate more passengers. The proposed terminal would be designed to handle 12 million to 15 million passengers a year and would have aerobridges capable of serving 12 to 17 wide-bodied and single aisle jets. The construction of the new terminal is expected to start by December 2020 and be operational by July 2021. Naia’s four terminals are hosting 42 million passengers a year, 12 million or 40 percent more than

their designed capacity of 30 million. In terms of solving the traffic congestion in Metro Manila, Coastal Development Consortium of San Miguel Holdings Corp. and New San Jose Builders Inc. is proposing to construct the P399.7 billion Manila Bay Integrated Flood Control, Coastal Defense and Expressway Project. The consortium of AC Infrastructure Holdings Corp. and SM Investments Corp. also proposed to construct the P23.7-billion C3 Elevated Expressway Project, an 8.6-kilometer road that will start from the fringes of the Skyway Stage 3 at Sta. Mesa in Manila. The project is expected to serve over 50,000

vehicles per day upon completion of construction to relieve traffic congestion in Circumferential Roads 2 (Quirino) and 4 (EDSA). MPCALA Holdings, meanwhile, plans to build the P23.69 billion Cavite-Tagaytay-Batangas Expressway that will link Cavite-Laguna (CALA) Expressway at Silang East Interchange to Tagaytay City and terminate at Nasugbu, Batangas. The 46.20-km tollway consists of a two-by-two lane carriageway traversing mostly the rural areas of Silang, Tagaytay, Amadeo, Mendez, Alfonso and Magallanes, all in Cavite province, and Nasugbu in Batangas. The P40.99 billion ManilaTaguig Expressway, on the other hand, was proposed by CLGP Philippine Holdings Inc. and P.T. Citra Persada Infrastruktur. The project is a 17.77-km elevated toll road expressway to run along the banks of Pasig River, which shall serve as a radial road in Metro Manila that will connect the province of Rizal through Metro Manila Expressway (C-6) to the heart of the cities of Pasig, Makati and Manila.

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For Faster Economic Growth: ECONOMIC SPECIAL REPORT

LNG to fuel economic expansion

By Alena Mae S. Flores

T

HE robust economic growth promised by the “Build, Build, Build” infrastructure program will give rise to a new dominant source of power supply in the Philippines.

The Philippines is moving to develop a liquefied natural gas project to meet an ever-increasing demand for power in the so-called golden age of infrastructure. Energy Secretary Alfonso Cusi said while sustainable renewable sources of power will come to dominate the future, there is still a need for a stable source of electricity that can bridge this transition. “Without this, we will not be able to secure our energy security. I would like to draw your attention to the second emerging trend that is changing our energy landscape—the revolution in gas that promises to make it the bridging fuel in the short to medium-term,” Cusi said. He said the gas revolution, changing at a fast pace, is defined by three major developments: higher demand, cheaper cost and increasing available supply. “The first is increasing demand from Asia—where our players will eventually transition from net exporters to net importers. The second is increasing supply from the rest of the world: where new supplies have come on stream, especially from the United States. The third is cheaper gas. … the reconfigurations of these supply and demand mechanics (is) changing the way gas is purchased and pushing costs down in the process,” the energy chief said. Cusi said nowhere are the prospects higher for the demand of gas than in Asia and the “thirst for gas is set to grow further.” He cited data that in the first half of this year when Chinese LNG imports jumped 38 percent from the same period in 2016. Cusi noted the forecasts by British Petroleum stating that China and India alone were expected to account for half of the 30 percent increase in global energy demand between today and 2035. “The same trends are happening in Asean, where the situation is such that as gas fields continue to deplete, we will eventually transition from net exporters to net importers,” he said. Cusi also cited a report by the Oxford Institute for Energy, which anticipates that by 2021, Asean countries will be net importers requiring 20 million tons. This is set to rise to at least 45 million tons in 2030. “As demand continues to grow, things look promising on the supply side as well. Indeed, global supplies of LNG are on course to increase by 50 percent between 2014 and 2021,” he said. Cusi said US LNG exports will have a strong impact on the global LNG market due to the shale gas revolution in the United States. Once a net importer, Cusi said, US is now a net exporter of natural gas and is expected to become the world’s third biggest exporter of LNG by 2020. Disruptive effect “This has had a disruptive effect on the markets, as the prospects of rising US gas exports has put pressure on the pricing formula of several existing longterm contracts. What is happening is that a market once-dominated by long-term contracts between a small number of suppliers, and an equally exclusive club of buyers such as Japan and South Korea, have been blown open by the influx of US gas,” Cusi said.

He said over 95 percent of LNG contracts a decade ago covered 10 years or more. “Today, that figure is down to about 60 percent. Given these new developments, Asean needs to start planning for this future. We need to think of how we can ride this LNG wave, to ensure that we can safeguard our energy security,” Cusi said. LNG wave He said the Philippines has made preparations to join the global LNG wave and expects to start its first LNG terminal project by next year. “We’ve started with the rollout of the Batangas LNG Terminal by 2020 to safeguard against the anticipated depletion of the Malampaya gas facility in 2024,” he said. “The buy-in is there. The investors are in. And we expect to commence groundbreaking of this project in 2018.” The government is now readying the LNG framework that will provide the policy guide for investors in the emerging LNG industry. The draft framework is set to come out this month and go through public consultations before it is finalized. The government’s thrust to develop an integrated LNG terminal is led by stateowned Philippine National Oil Co. PNOC has been in talks with dozens of potential investors for a planned $2-billion LNG terminal. PNOC president Reuben Lista wants to utilize its banked gas from the Malampaya gas project to bankroll the project and avoid incurring interest from loans. Lista earlier said around 12 foreign companies had expressed interest to acquire the government’s banked gas. “We want to monetize the banked gas so that we do not have to borrow. There are around a dozen serious ones for the banked gas,” he said. PNOC wants to trade the government’s banked gas in the international market to provide funding for the LNG facility. “NEDA (National Economic and Development Authority) will not likely approve if we borrow $2 billion. We have equity from the banked gas and that is the direction we are tying to adapt. We are looking for a partner willing to monetize my banked gas. There are 12 interested... all foreign,” Lista said. The government earlier estimated that the planned integrated LNG facility will cost around $2 billion to construct. PNOC estimates the value of the banked gas at around P11.9 billion. The unused Malampaya natural gas, or banked gas’ is stored in the Malampaya reservoir and owned by PNOC. It was contracted, paid for by the government and reserved for future use. The banked gas has accumulated in the past several years. PNOC said with the impending depletion of the Malampaya gas field by 2024, “it becomes imperative that PNOC extract and fully recover the remaining purchase cost as well as optimize its potential value at the earliest time possible which should be before the end of 2024.” PNOC want the utilization of the banked gas preparatory to the full development of the proposed PNOC Batangas LNG Hub Project.

For Faster Economic Growth: ECONOMIC SPECIAL REPORT

MONDAY, OCTOBER 9, 2017

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Asian economies grapple with slums

F

AST-growing emerging economies in Asia are grappling with the conundrum that a boom brings: hordes of villagers flocking to cities only for many of them to end up living in slums.

About 55 percent of the urban population live in shantytowns in Cambodia, 43 percent in Mongolia, 41 percent in Myanmar, and 38 percent in the Philippines, according to World Bank data that covers East Asia and the Pacific. The ratio is more than 20 percent in Vietnam, China and Indonesia, which are among the fastest-growing economies in the world. In some respects these nations have become a victim of their own success amid massive urbanization, where inward migration is outstripping governments’ ability to supply necessary infrastructure and services. In places like Metro Manila and Jakarta, a dense sprawl of illegal or unplanned housing have sprouted up to offer homes for millions of workers who power their economies. “Emerging slums are proof that the economy is growing and the opportunities are often in cities,” Makiko Watanabe, a World Bank senior urban specialist, said in an interview in March Manila. “But governments cannot keep up with providing adequate housing. There is a need to improve land use policies and make housing finance more affordable.” Developing nations can look to the success of countries like Singapore, South Korea and Japan, which also struggled with slums in the past, Watanabe said. In Singa-

pore, the government transformed the city from a largely rural town with squatter colonies to the modern cosmopolitan city that it is today by building affordable housing. “If there is political will, it can be done,” Watanabe said. Another strategy is to strengthen urban centers outside of the main capital cities by building schools, hospitals, highways and airports to encourage more investment, she said. From Beijing to Bangkok, governments are trying to counter the draw of the dominant capitals that soak up the lion’s share of workers and investment. In the Philippines that means spreading some of the wealth that’s concentrated in Metro Manila, an urban sprawl of about 22 million people that accounts for more than a third of the nation’s economy. “If you succeed in building regional economic hubs, you can disburse the population,” Watanabe said. There is a need to change the perspective that slum-dwellers are a burden for the government and for the society, Watanabe said. “They offer a lot of jobs required in cities, they generate a lot of economic opportunities but they aren’t captured very well because they are in the informal sector,” she said. “But in fact they are the backbones of the economy.” Bloomberg

Slums next to residential buildings in Cebu.

ECONOMY...

From E8

Among the major economic sectors, industry recorded the fastest growth in the second quarter at 7.3 percent. Services slowed down to 6.1 percent compared with an 8.2 percent growth posted in the same quarter of the previous year. Meanwhile, agriculture recovered with 6.3 percent growth from the 2-percent decline in the previous year. Flagship projects Dominguez estimates that around half of the 75 flagship infrastructure projects of the Duterte administration under the ambitious “Build, Build, Build” program can be finished by 2022. And of the half, he identified a number of major undertakings with portions to be significantly completed before President Rodrigo Duterte steps down from office. Among these are the Clark Airport, Clark to Manila Railway and the Mindanao Railway. “Number one is the Clark airport that will be finished, a good portion of the Clark to Manila railway will be finished, and the third one will probably be a good portion of the Mindanao railway,” Dominguez told the participants of a forum organized by the Manila Overseas Press Club in Makati City. “Probably, obviously, not all, like the Subway, can be finished by 2022. Probably half. But the rest will be ongoing, because they are not projects that you can do immediately,” he said. He estimated that the Metro Manila Subway project alone—which aims to decongest the metropolis of heavy traffic—could “probably take around seven years” to complete, considering its length of around 24,000 meters. “... The subway will not be finished (in 2022), a digging machine can dig only 10 meters a day, that is a world-class equipment. They are going to employ about 25 (machines)... but the total length (of the project) is 24,000 meters. So that will probably take around seven (years),” Dominguez said. The National Economic and Development Authority Board recently approved the Metro Manila Subway Project and four new “flagship” projects during their fifth meet-

ing middle of this month. Neda said this brought the administration’s total number of approved projects to 35 worth ₱1.2 trillion, excluding the cost of the Tawi-Tawi bridges. The first phase of the subway project, with an estimated initial investment requirement of ₱355.588 billion, will run from Mindanao Avenue in Quezon City to FTI in Taguig and terminate at the Ninoy Aquino International Airport in Parañaque City. To be financed through Official Development Assistance from Japan, the project will begin construction early next year. He also said that by November of this year, a year and a month after the Chinese made the commitment, the construction of the two bridges in Pasig River will begin. The Binondo-Intramuros and Estrella-Pantaleon Bridges construction projects of the Public Works Department has a total cost of P5.97 billion. The Binondo-Intramuros Bridge involves the construction of a new four-lane bridge and viaduct. Meanwhile, the Estrella-Pantaleon Bridge involves the replacement of the existing two-lane bridge with a four-lane bridge and widening of the approach roads. Construction of the bridges is set to begin fourth quarter this year and end in the fourth quarter of 2020 with grants from the Chinese government. Dominguez also said that by early next year, the construction of the Chico River irrigation project in Cagayan province and the Kaliwa dam in Quezon will be started. Dominguez earlier identified the potential Chinese bidders for Chico and Kaliwa projects through a shortlist provided by the Chinese government. For the Chico river, it is going to be China CAMC Engineering Co. Ltd., China GeoEngineering Corp., and Qingdao Municipal Construction Group Ltd. For the Kaliwa dam, bidders will be China Energy Engineering Co. Ltd., China Power Ltd., and a consortium of Guangdong Foreign Construction Co. Ltd. and Guangdong Yuantian Engineering Co. Ltd. The National Irrigation AdministrationManila Water and Sewerage System are currently conducting their due diligence on the Chinese companies. Dominguez said the firms were subject to laws, rules and regulations.

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For Faster Economic Growth: ECONOMIC SPECIAL REPORT

Growing demand tests power supply By Alena Mae S. Flores

I

S THE strong economic growth story catching up with energy supply? A series of yellow alerts in the Luzon grid starting at the end of August has drawn concern that the Philippines may be on the brink of a power shortage.

Manila Electric Co., the biggest electricity retailer, said the yellow alerts showed the “vulnerability” of the system, where further forced outages of generating plants could result in power shortage in Luzon. “I think it just shows potential vulnerability of the entire system and you’re better with

adequate capacity. If we cut it too thinly, and there are a bit delays, then we’re going into a situation as we move to 2019-2022. Approvals have been delayed by more than a year,” Meralco president Oscar Reyes said. Yellow alerts is declared by the grid operator when the total reserves are less than the capacity of the largest plant online (which for the Luzon grid is 647 megawatts). Meralco noted an increase in demand even during weekends when it has been traditionally lower. Energy Department records showed the Philippines’ installed capacity reached 21,423 MW as of 2016, up 14 percent from 18,765 MW in 2015, while dependable capacity was placed at 19,097 MW. Luzon’s peak demand, meanwhile, reached an all-time high of 9,726 megawatts on May 3, 2016 at 1:52 p.m., higher than the 2015 peak demand of 8,928 MW. This year, peak demand breached 10,000 MW in Luzon, driven by growth in demand in all sectors, supporting the country’s 6.5-percent economic expansion in the second quarter. “The yellow alerts are a reality. It shows vulnerability. The reason for yellow alerts are outages. If you’ve got the confluence of outages 3 years ago, it poses a risk to continued commercial industrial activity. With economic growth, there’s rising affluence, even for residential,” Reyes said. Reyes said Meralco does not want to “raise an alarm,” but the yellow alerts is “really just a realization that you’re better off with adequate capacity because it takes time to build, its not instant noodles.” Energy Undersecretary Felix William Fuentebella dismisses fears of an impending power shortage, stressing the country just needs more power reserves as demand grows. Not enough “The reserves are not enough. We get the reserves in the same pool of power capacity so we need more (power),” Energy Undersecretary Felix William Fuentebella said. He said the need for more reserves was underscored during times when power plants go on forced outage simultaneously. Lawrence Fernandez, Meralco vice president and head of utility economics, said a yellow alert means there are not enough reserves to cover the largest running generating unit at the time. “In the three instances, the yellow alerts were triggered by forced outages of several large generation facilities. In turn, these (at times) triggered the automatic load dropping scheme of Meralco,” Fernandez said. “This meant that certain areas in Meralco experienced momentary interruptions to help the grid recover from the generation outages,” he said. Fernandez attributed the yellow alert occurrence to high demand even during regular weekends and the forced outage of coal-fired power plants. “Our concern, while so far it did not lead to red alert, when power plants trip, there is automatic load dropping. Which means some of the customers lose electric service because of the tripping of some power plants,” he said. Fernandez added that while more than 1,000 MW of power plants were commissioned in last year, “the rise in demand is soaking up new capacity.” “We were not expecting the growth in demand that we experience this year coming off from 2016 where was El Nino and election year,” he said. “In the Meralco area alone, electricity consumption had grown almost four percent todate. This despite having registered a robust growth of 8.1 percent in 2016 due to the effects of El Nino and elections-related spending,” Fernandez said. “As demand for power continues to increase, additional generation supply will be needed, both to meet new demand and to improve the reliability of the electric system,” he said.

For Faster Economic Growth: ECONOMIC SPECIAL REPORT

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Economy poised to expand faster By Julito G. Rada

T

HE Philippine economy is poised to expand faster in the second half of the year backed by the strong and solid macroeconomic fundamentals and the government’s plan of expanding fiscal spending, especially on infrastructure under the ambitious “Build, Build, Build” program. The Philippines will register the robust expansion despite external threats, such as the lingering tension in the Korean peninsula, uneven growth of advanced economies, imminent interest rates hike by the US Federal Reserve before the close of 2017, and domestic problems including political uncertainty and the peace and order situation in Mindanao. Economic managers agree that the secondquarter expansion of 6.5 percent, an improvement from the 6.4 percent a quarter ago, showed that the target range of 6.5 percent to 7.5 percent for the whole year remains realistic. The growth in April-to-

June period was primarily driven by the sustained strength of the industry sector and the recovery of the agriculture sector.This brought the first semester GDP growth to 6.4 percent, slightly below the lower limit of the government’s target range of 6.5 to 7.5 percent this year. The second-quarter growth was, however, slower compared with the 7.1 percent a year ago due to base effects, as spending was relatively robust in the run-up to the presidential elections in May 2016. Finance Secretary Carlos Dominguez III said the 6.5-percent expansion in the second quarter was a “solid proof” that the government’s “unparalleled” investment strategy anchored on the ‘Build, Build, Build” program has started to pick up steam and was on course to steering the Philippine economy toward a growth path of 6.5 to 7.5 percent for 2017. Economic Planning Secretary Ernesto Pernia said the GDP target of 6.5 to 7.5 percent this year remained realistic. Pernia said the economy would remain resilient to domestic risks, such as the Marawi conflict in Mindanao, the recent bird flu outbreak in Central Luzon, and even the weaker peso. On the Marawi issue, Pernia said businesses were brisk in other areas in Mindanao and

businessmen remained optimistic, adding that the massive rehabilitation of Marawi City would actually stimulate growth in the region. Within inflation target Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. said the second-quarter data confirmed that the economy remained robust and in line with the BSP’s expectations and consistent with the within-target inflation forecast this year. “The firm economic momentum during the first half of the year alongside favorable business and consumer sentiment should augur well for the expansion of the economy over the near to medium term,” Espenilla said. He said the BSP would continue to closely monitor economic and financial developments and stood ready to adopt policies to achieve its mandate of preserving price and financial stability. Higher infra spending Under its expansionary fiscal policy, the Duterte administration aims to raise infrastructure spending from an equivalent of 5.4 percent of GDP this year to 7.3 percent of GDP by 2022. It has set aside P1.097 trillion in 2018 to support the “Build, Build, Build” program alone, from the adjusted level of P.858.1 billion this year. Dominguez is confident the Senate would help the government meet the high growth target by

passing soon enough—and in full—its own version of the comprehensive tax reform package, which would help spell the financial sustainability of its accelerated spending on infrastructure as well as on human capital formation and social protection for the poor and other vulnerable sectors. The first package of the Tax Reform for Acceleration and Inclusion Act was already passed in May in the House of Representatives. ING Bank Manila senior economist Joey Cuyegkeng said the GDP target of 6.5 to 7.5 percent remained within reach as some acceleration of economic activity were expected in the second half of the year of around 6.7 percent to bring a full-year growth of 6.5 percent to 6.6 percent. He said negative base effects would have faded while household and business spending and investments supported with an acceleration in core government spending would continue to support strong economic activity. Cuyegkeng added that export recovery would also deliver a more favorable contribution although agriculture might post a moderate growth in the third quarter from the Avian flu episode as supply in provinces which are free of the disease are limited by the Luzon-wide restrictions on the transport of poultry and egg supply. Turn to E5