Manila Standard - 2018 January 08 - Monday by Manila Standard

80K devotees join procession of Nazarene’s replicas VOL. XXXI • NO. 325 • 3 SECTIONS 16 PAGES • P18 • MONDAY, JANUARY 8, 2018 • www.manilastandard.net • editorial@manilastandard.net

DEVOTION. Around 80,000 devotees take part in the procession of the replicas of the Black Nazarene in Quiapo, Manila on Sunday, January 7, 2018. Norman Cruz

‘Surgical changes’ to Cha-cha proposed By Rio N. Araja THE chairman of the House committee on constitutional amendments said Sunday the switch to a federal system of government would not need a drastic revision of the Constitution. In an interview over radio dzBB, Southern Leyte Rep. Roger Mercado said the shift to federalism would require only “surgical changes” to the charter, not an overhaul. “If we take a look at the provisions [of the Constitution], [I don’t think] there is a need to tamper with, change or amend it. We will not touch on it. We will only touch on very specific provisions that’s needed in order that our system can run efficiently,” he said. “What we need are specific, surgical changes to adapt to the present conditions since our Constitution is already 30 years old,” he added. Under these conditions, Mercado said, a constituent assembly could take up the proposed amendments in a short time. He said a concurrent resolution to convene Congress as a Next page

Health chief sets visits on Dengvaxia

By Macon R. Araneta HEALTH Secretary Francisco Duque III said Sunday he will this week start visiting schools with students facing possible severe dengue cases after being administered with the controversial dengue vaccine Dengvaxia. He told a forum he would go ﬁrst to a Marikina school and also inspect certain schools in the rest of the National Capital Region, Regions 3 and 4-A and Cebu. He said the visit was part of heightened monitoring efforts for the 837,000 schoolchildren given the vaccine. Some inspections would be unannounced so he could check his regional staff’s compliance with the department’s risk communication strategies, such as the setting up of posters containing vital information on dengue immunization. “We will start to do our regular visits and unannounced visits Next page

SOME 80,000 devotees joined the procession of the replicas of the Black Nazarene in Quiapo, Manila on Sunday, police said. Manila Police District (MPD) spokesman Supt. Erwin Margarejo said 500 policemen were deployed in the area to ensure peace and order. Local authorities said they are expecting at least 18.9 million people to join the 10 days of activities for the Feast of the Black Nazarene in Manila. The expected crowd at the actual Traslacion of the Black Nazarene from Quirino Grandstand in Rizal Park to the Minor Basilica of the Black Nazarene in Quiapo is between 2 million and 3 million, police said. The MPD on Sunday urged devotees not to bring expensive personal belongings, such as jewelry and cell phones, if they plan to joining the Traslacion on Jan. 9 to avoid being victimized by robbers. “We urge the public who will attend not to wear jewelry. Likewise, don’t bring your cell phones if it’s possible,’’ MPD director Chief Supt. Joel Coronel said in Pilipino, during an interview over the radio. Devotees should also avoid bringing small children and their babies, Coronel advised. If they must bring bags, devotees Next page

Sereno impeachment slated for May---House By Rio N. Araja and Macon Ramos-Araneta

HE impeachment trial of Supreme Court Chief Justice Maria Lourdes Sereno before the Senate should begin by May, after hearings in the House are completed this quarter, Speaker Pantaleon Alvarez said Sunday. “I think we can end the hearings. In fact, we have already started consolidating all [pieces of] evidence [and] testimonies,” Alvarez said, citing the timetable set by Oriental Mindoro Rep. Reynaldo Umali, chairman of the

House committee on justice. Alvarez added, however, that Congress would accommodate more witnesses, such as the other members of the Supreme Court, to strengthen the case against Sereno.

“We cannot just take this hastily. Let us just say, we have a deadline. There are many others who still want to testify. Let us give them the chance to do so,” he said. Alvarez again criticized Sereno for refusing to take part in the House hearings. “What is Chief Justice Sereno doing? She doesn’t want to confront the truth. She doesn’t want to face the committee on justice to explain her side. Now, isn’t it true that if you’re innocent, you’re ready face anyone to answer the accusation against you, but if you’re hiding something and you know you have done wrong, naturally, you’ll be afraid (to face it)?”

He said Sereno should stop from accusing Associate Justice Teresita Leonardo-de Castro and her other colleagues of testifying against her because of personal grudges. Lawyer Lorenzo Gadon has accused the chief justice of a betrayal of public trust, corruption and other high crimes in his impeachment complaint. He accused Sereno of ﬁling an untruthful declaration of her wealth—the same basis used by the Aquino administration to impeach and oust then Chief Justice Renato Corona. Over the weekend, Senate Miniority Leader Franklin Drilon dismissed the likelihood of a plebi-

scite in May to shift to a federal form of government because the impeachment complaint against Sereno is set to be endorsed to the Senate in the same month. In an interview over radio dwIZ, Drilon said senators will have no time to work on constitutional amendments once Sereno’s impeachment reaches the Senate. “From my experience, once we become an impeachment court, we cannot work on other matters,” Drilon said. “For the rest of the year, the remaining six months of 2018, we cannot do anything so I cannot see how we can amend the Constitution, Next page

Gaming tycoon faces probe on tax evasion raps, says BIR By Rey E. Requejo The Bureau of Internal Revenue is investigating gaming tycoon Charlie “Atong” Ang and his company Meridien Vista Gaming Corp. for possible tax evasion. BIR Commissioner Caesar Dulay made the disclosure during a press conference Thursday in the Department of Justice when they ﬁled tax evasion charges against trader Kenneth Dong and customs broker Mark Taguba, both implicated in the smuggling of P6.4 billion worth of shabu in May 2017. “We are looking at the records of Atong Ang,” Dulay said, ex-

plaining that the probe is being conducted upon the request of Justice Secretary Vitaliano Aguirre II last year. Dulay said the probe against Ang is still in the preliminary stage. “We are still looking at the records [to see] if there is basis for investigating him,” he said. The BIR chief declined to give more details so as not to jeopardize the probe on Ang. Aguirre wrote the BIR to look into possible tax liabilities of Ang and his Meridien in a letter in May last year. The DOJ chief made the request after Ang accused him and Next page

Trump ready for rare talks with North Korean leader CAMP DAVID―US President Donald Trump said Saturday he would be willing to speak directly with Kim Jong-Un, voicing hope that rare talks between North and South Korea could help deescalate the crisis over Pyongyang’s nuclear drive. Trump’s remarks were a further pivot from his often-bellicose rhetoric on North Korea and Kim, with whom he has engaged in a war of words that raised fears of nuclear war as Pyongyang carried out missile and nuclear tests.

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“I always believe in talking,” Trump said at the Camp David presidential retreat when asked if he would speak to Kim by phone. “Absolutely I would do that, no problem with that at all,” Trump said, while making clear this did not mean he would do so without preconditions. North and South Korea have agreed to hold their ﬁrst ofﬁcial talks in more than two years, and Trump expressed hopes that they would go beyond discussions of

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COSPLAYERS representing the biblical Three Kings (Melchor, Gaspar and Balthazar) ride their horses from San Vicente De Paul Parish in San Marcelino to Casa Espanol along T.M. Kalaw Ext. in Ermita, Manila to mark the official end of the Christmas season. Norman Cruz

Third telco player begins operations in March—DICT A THIRD telecommunications player will be operational in March as ordered by President Rodrigo Duterte to break the “duopoly” in the industry, the Department of Information and Communications Technology said Sunday. DICT ofﬁcer-in-charge Eliseo Rio Jr. told dzBB that the structure for the terms of reference on

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choosing a third player was already being crafted. “We will have a third player in three months. We have identiﬁed it and it will begin operating by the end of March,” Rio said. Malacañang said in December 2017 that Durterte wanted the third telecoms player to start providing services to consumers by the ﬁrst quarter of 2018.

Duterte had instructed the DICT and the National Telecommunications Commission to approve applications and licenses within seven days after complete requirements were submitted, even as he warned the courts not to “interfere and prolong” the process. The Chinese government has chosen China Telecom Corp. Ltd. Next page

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PhilHealth members to pay premium hike By Macon Ramos-Araneta

HE members of the Philippine Health Insurance Corporation will have to shoulder a 0.25-percent increase in their premium contributions starting this month, Health Secretary Francisco Duque III said Sunday. He said the members’ contribution rate would now be 2.75 percent from 2.5-percent of their monthly basic pay. The increase in the members’ premium contribution is expected to double the actuarial life of the PhilHealth fund to eight-and-a-

half years from four-and-a-half years, Duque told a forum in Manila. Covered by the adjustment are the members employed in the formal economy including housemaids, family drivers, seafarers and and all employers in the gov-

ernment and private sector. A PhilHealth circular says the contributions are now computed based on a salary ﬂoor of P10,000 and a ceiling of P40,000, as follows: P275.00 for those making P10,000 and below per month, or P137.50 each from the member and employer. P275.02 to P1,099.99 for those earning P10,000.01 to P39,999.99 per month, or P137.51 to P549.99 each from the member and employer. P1,100 for those earning P40,000 and above per month, or P550 each from the member and employer For a household help, the mem-

ber’s contribution “shall be shouldered solely by the household employer” in line with the Domestic Workers Act unless the member is receiving a salary of P5,000 and above, in which case he or she would have to pay the proportionate share. More than a third or P50 billion of the Department of Health’s P165-billion budget for 2018 had been allotted to finance PhilHealth, Duque said. PhilHealth has a national coverage of 90 to 92 percent. The majority of those not covered by PhilHealth benefits are in “geographically disadvantaged areas” or far-flung or remote areas or villages.

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which is controversial,” he added. The last impeachment trial held by the Senate was against Corona, which lasted five months—Jan. 16 to May 29 in 2012. Based on Alvarez’s projection, the new federal charter could be ready for a referendum, simultaneous with the scheduled Barangay and Sangguniang Kabataan elections in May. The Duterte administration has been pushing for a shift to a federal form of government to address issues particularly in strife-torn Mindanao. But Drilon said he was confident that his fellow senators, particularly 11 colleagues, would not vote for the constitutional amendments needed for a new federal charter. “You cannot face the public and say that you agreed to the amendment because your term would be extended. I think my colleagues in the Senate will not do that,” Drilon said. “As of now, there is no official proposal in the Senate for a federal system. This proposal is very complicated. They cannot just approve it once given to them,” he added. Drilon said cancelling the midterm elections in 2019 will also bring conflicts of interest for lawmakers who have maximized their terms as mandated by the Constitution. If the plebiscite happens on May, it will require three-fourths of Senate votes to be in favor

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RETURN TRIP. Province-bound passengers troop to bus terminals in Pasay City on Sunday (Jan. 7, 2018). The merrymakers who spent the holiday season in Metro Manila line up in bus terminals in time for Monday’s work and classes. PNA

Health...

Gaming...

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of the schools where we make sure that the DOH people on the ground are able to follow what the DOH central office has asked them to do,” said Duque. Health Undersecretary Rolando Enrique Domingo said children would be given letters for their parents. He said the letters would contain updates on the vaccine, a reminder to watch out for dengue symptoms, and information on medical help they could seek should such symptoms arise. He also said Duque had already asked Dengvaxia’s manufacturer Sanofi Pasteur to come up with a “test kit” that would determine if a patient’s blood had dengue virus, “The Secretary has demanded that Sanofi have this test available at the soonest possible time so we would know exactly who among the children are at risk,” he said. Duque has also demanded that Sanofi take back its remaining vaccine stocks and refund the corresponding amount so the government could use it for the potential care for immunized children, if needed. He reiterated that his department welcomed and and would cooperate with the investigations into the vaccine currently being carried out by the Senate and the House of Representatives and the cases filed by groups such as the Volunteers Against Crime and Corruption and Gabriela. But his department will focus its efforts on post-vaccination monitoring for the 837,000 schoolchildren who received the vaccine, and that it will not file cases against Sanofi. “We don’t want to be filing the cases ourselves because our plates are full, we have to watch out for 837,000 students who have been vaccinated,” Domingo said.

National Security Adviser Hermogenes Esperon Jr. of plotting to kill him. At the time, Ang alleged that the two ofﬁcials were involved in Small Town Lottery (STL) operations and wanted to kill the competition. Aguirre has also directed the National Bureau of Investigation to probe Ang’s allegations. The Philippine Charity Sweepstakes Ofﬁce (PCSO) had earlier banned Meridien and its bet collectors from operating outside the Cagayan Freeport, saying its license is limited to the area. Meridien’s license to operate is also being questioned after the Supreme Court ordered the Court of Appeals last year to resolve Cagayan Economic Zone Authority’s case against Meridien. Ang became controversial again recently following the

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are urged to use transparent ones

so that they can get through security inspections faster. As of Friday, a total of 165,000 people have arrived at the Quirino Grandstand in Rizal Park for the Pahalik, he said. Authorities are expecting a total of 18.9 million devotees to join the week-long Feast of the Black Nazarene and two million people to join the Traslacion. Aside from the ofﬁcial Traslacion route, which stretches to at least six kilome-

appointment of his friend, whistleblower Sandra Cam, to the PCSO as board member. He was accused last week of plotting with Cam to replace PCSO general manager Alexander Balutan so his Meridien would monopolize STL operations in the country. Cam recently criticized Balutan over the lavish Christmas party of PCSO at a ﬁve-star hotel in Mandaluyong City last month, which allegedly cost about P10 million. Balutan said Ang had tried but failed to get approval for his bid in the PCSO to operate STL nationwide by allegedly offering P200 million per month to the agency. The PCSO chief said Ang’s proposal was rejected because his offer was too small compared with the P1.7 billion monthly revenue of STL. Ang has already denied Balutan’s claim.

Third...

ters, authorities have identiﬁed 12 prayer stations. The prayer stations are located at: Manila Hotel; National Museum; Victoria corner Burgos streets; Liwasang Bonifacio; Escolta arch; Sta. cruz Church; Arlegui Street corner Quezon Boulevard; Arlegui corner Casal streets; Manuel L. Quezon University; San Sebastian Church; De Guzman Street; and Globo de Oro Street. A 36-hour liquor ban will be enforced starting Monday afternoon and ending early Wednesday morning as part of security measures for a peaceful and orderly observance of the feast of the Black Nazarene

of Manila’s Quiapo Church. The MPD said the liquor ban will start as 6 p.m. on Jan. 8 (Monday) and will end at 5 a.m. on Jan. 10 (Wednesday). The ban covers a 200-meter radius from all points of the Black Nazarene procession route. Intermittent cellular signal interruption will be imposed within a one-kilometer radius from the Black Nazarene and along the procession route. Earlier, the National Capital Region Police Ofﬁce announced a 48-hour gun ban in some areas in Manila where events of for the feast of the Black Nazarene were to take place.

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to enter the Philippine telecommunications industry as the third player there, according to Presidential Communications Secretary Martin Andanar. But China Telecom must partner with a Philippine firm as the 1987 Constitution restricts foreign ownership of a telecommunications entity to 40 percent and reserves the other 60 percent to Filipino citizens or corporations. “A Filipino firm interested in becoming a third player will have to pick China Telecom and not the Philippine government,” Rio said. Presidential spokesman Harry Roque said other foreign firms would have a chance to become the third telecoms player in case the Chinese government and the Chinese company involved balked at the deal. The Philippine Telegraph & Telephone Corp. is said to be in an advance stage of discussions on a partnership deal with a South Korean telecommunications firm.

Pyongyang’s participation in the coming Winter Olympics in the South, which a North Korean Olympic official said Saturday was “likely.” “I would love to see them take it beyond the Olympics,” Trump said. “And at the appropriate time, we’ll get involved.” He added that if something could come out of the talks, “that would be a great thing for all of humanity.” Kim said in a New Year speech that his country wished success for the Olympics, to be held from February 9-25, and would consider sending a delegation―remarks that set off a tentative rapprochement after weeks of high tensions. The North and South agreed to the talks on Friday, and Seoul has proposed sending a five-member delegation led by a government minister to the talks in the truce village of Panmunjom on Tuesday, according to the Unification Ministry in Seoul. The North and South agreed to the talks on Friday, and Seoul has proposed sending a five-member delegation led by a government minister to the talks in the truce village of Panmunjom on Tuesday, according to the Unification Ministry in Seoul. Seoul and organizers are keen for the North to take part in the Games to help ease tensions. Chang Ung, North Korea’s representative to the International Olympic Committee, said Saturday the reclusive nation is “likely to participate” in next month’s Winter Games. Japanese news agency Kyodo said Chang had made the brief comment to reporters during a stopover at Beijing’s international airport, and that he was believed to be traveling to Switzerland, where the IOC is based. The two Koreas have been separated by the world’s most heavily-militarized border since the Korean War ended in a stalemate in 1953, but tensions have worsened recently over Pyongyang’s nuclear and missile programs. In recent months, the North has held multiple missile launches and its sixth and most powerful nuclear test―purportedly of a hydrogen bomb―in violation of UN

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constituent assembly to draft the federal constitution would be approved this month in the House and transmitted to the Senate in February. Mercado said a constituent assembly was the preferred mode of introducing changes to the Constitution since it could be the most expeditious, open and less costly than a constitutional convention

of federalism— for it to push through. “If we need three-fourths of the votes, 11 senators have possible conflict of interests,” he said. At the Senate, Drilon said five senators are ineligible for reelection due to term limits – Senate President Aquilino Pimentel III, Senators Francis Escudero, Gregorio Honasan, Antonio Trillanes IV, and Loren Legarda. Senators Juan Edgardo Angara, JV Ejercito, Cynthia Villar, Nancy Binay, Benigno Aquino IV, and Grace Poe are eligible for reelection. Under the Constitution, senators are limited to two consecutive six-year terms, while members of the House of the Representatives are limited to three consecutive three-year terms. At the same time, Drilon said senators will insist on voting separately if Congress is convened as a constituent assembly. “No one in the Senate will agree to a joint voting. We will insist on separate voting. The Congress can propose amendments to the Constitution using the regular lawmaking procedure,” Drilon said in an interview on dzBB on Sunday. He said it appears the House plans to rubber stamp Malacañang plans to amend the Constitution through joint voting that would render the Senate vote practically irrelevant. Drilon said Congress vote on martial law in Mindanao should “serve as an example of how Senate’s power could be reduced to nothing if joint voting is followed.” resolutions banning such activity by the isolated nation. The region has also been rattled by tit-for-tat threats and insults between Kim and Trump. Seoul has reacted warmly to Kim’s Olympic overture and the two Koreas this past week restored a cross-border hotline that had been shut down since 2016 and agreed to hold the talks next week―the first since December 2015. Trump, who has jumped between taking a provocative approach towards North Korea and calling for a peaceful resolution, on Saturday took credit for paving the way for the talks. “If I weren’t involved, they wouldn’t be talking about the Olympics right now, they’d be doing no talking,” he said. “For 25 years they [South Korea] haven’t been using a tough stance. They’ve been giving everything.” Also in recent days, the United States and South Korea agreed to delay their joint military exercises until after the Games, apparently to help ease nerves. The regular joint drills have been criticized by some as adding to regional tensions. Beijing and Moscow have both called for them to be suspended. North Korea’s young leader has shrugged off multiple sets of new UN Security Council sanctions as his regime drives forward with its weapons programs, which it says are needed to defend against US aggression. The latest round of sanctions passed in December bans the supply of nearly 75 percent of refined oil products to North Korea, puts a cap on crude deliveries and orders all North Korean nationals working abroad to be sent back by the end of 2019. Sales of all industrial machinery, trucks, iron, steel and other metals to North Korea have been banned, as well as a range of Northern exports. China, North Korea’s longtime ally and most important economic lifeline, said it had begun enforcing the new restrictions on Saturday. South Korean opposition parties have struck a cautious tone over the latest developments, warning against making concessions to the North to secure its Olympic participation. AFP or a people’s initiative. Mercado said he believed Alvarez and other colleagues at the House of Representatives would be amenable to having the House and Senate vote separately. “We are willing [to vote separately]. That is my personal view after talking to other members, who said that it was not a big deal for them,” he said. Senators have insisted that they vote separately if Congress is convened as a constituent assembly.

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MoNday, jaNuary 8, 2018

Pimentel snipes at minority leader By Macon Ramos Araneta

ENATE President Aquilino “Koko” Pimentel III on Sunday took a swipe at Senate Minority Leader Franklin Drilon for telling him to defend the Senate against the attacks of House Speaker Pantaleon Alvarez.

“I have already defended “Does he want me to the Senate by responding to continue the word war with what the Speaker has said,” the speaker? He belongs to stressed Pimentel. Liberal Party (LP) while

the speaker and I belong to PDP. Hence, why should I do that?” asked Pimentel. Pimentel is the national president of the ruling PDPLaban while Alvarez is the party’s secretary general. Reacting to Alvarez’s criticism on “slow Senate” under the leadership of Pimentel, the latter exhorted his colleagues to focus on quality instead of the quantity of legislative performance in Congress. “we must all change our

mindset - from quantity to “quality,” said Pimentel. Pimentel told Alvarez not to judge lawmaking in terms of the number of laws passed but in terms of how the laws improve the quality of life on earth in general and the quality of life of Filipinos in particular. “AgainI say: change mindset. QUALITY not quantity,” stressed Pimentel, also president of the ruling Partido ng Demokratikong Pilipino (PDP-Laban).

Alvarez sits as the secretary-general of PDP-Laban whose national chairman is President Rodrigo Duterte. In a text message to reporters, the Senate leader emphasized that quality over quantity has always been the mindset of the Senate when it comes to the deliberation and approval of proposed measures. “All bills renaming and or merging schools, increasing hospital beds and the like must and do come from the

House,” said Pimentel Data from the Legislative Bills and Index Service as of December 13 showed there there were 1,636 bills filed at the Senate, only nine of which were enacted into law. However, the list does not include yet the 2018 budget and the first package of the tax reform program signed by the President last December 19. of the number, 365 bills were acted upon by the Senate, 67 are pending second

reading approval, while 1,262 are pending before the respective committees. Some 575 Senate resolutions have also been filed both in the first and second regular sessions of the present 17th Congress. To bolster his claim on the slow Senate action, Alvarez cited the passage of the tax reform measure, which he said, was approved early by the House but stalled in the upper chamber.

Groups hit release of Palawan suspect By Bill Casas and Rio Araja ings, there are more than Two militant groups on Sunday blasted the decision of the Court of Appeals to release the suspect in the murder of broadcaster and environmentalist Gerry ortega. “The release of Palawan ex-governor Joel Reyes is a clear evidence that impunity highly prevails in the country,” said Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas. A rights advocate Hustiya said its members would take actions to demandj ustice for ortega and othe victims of extrajudicial killings in the past and present administrations. According to environmental group Kalikasan Peoples Network for the Environment, ortega was an active environmental activist who opposed destructive mining in Palawan and exposed the corruption and malversation of funds in the Malampaya Natural Gas Project. ortega was gunned down on January 24, 2011. A witnesses firmly pointed to Reyes and his brother, Coron Mayor Mario Reyes as the masterminds behind the murder of ortega. PAMALAKAYA said apart from the thousands of drug war-related kill-

SEARCHING. Migratory birds scour for food in the murky waters of Manila Bay. Lino Santos

Iloilo solon sacked over pork barrel THE Seventh Division of the Sandiganbayan has ordered a 90-day preventive suspension on Iloilo City Rep. Jerry Treñas for the use of P500,000 from the Priority Development Assistance Fund of Senator Loren Legarda for the construction of a press club building when he was then a mayor in 2003. The lawmaker said he would no longer challenge the antigraft court’s order. He, however, denied committing any irregularity, saying he complied with the legal processes in granting the fund. In a Nov. 7, 2017 complaint, ombudsman Assistant Special Prosecutor III Jorge Espinal alleged Treñas committed graft for giving “unwarranted benefits, advantage or preference” for releasing P500,000 for the construction of the Iloilo Press Club building in Molo, Barangay San Pablo, Iloilo City 15 years ago. The money came from Legarda’s pork barrel fund to build the media facility, “which was not an accredited non-government organization of the city.” The ombudsman said Treñas violated the Commission on Audit’s Circular No. 96-003 for failure to monitor the implementation of the project and failure to require fund liquidation. The Sandiganbayan junked Treñas’ argument that he should not be suspended. Rio Araja

100 victims of political-related killings under President Rodrigo Duterte. The release of former Palawan from detention on Friday came as a shock to the family of the victim, even as it sparked celebration among Reyes’ friends and supporters. In a statement, ortega’s eldest daughter Michaella said the family was “still recovering from the shock of Friday’s Court of Appeals (CA) decision ordering the release of the mastermind [in] the murder of radio broadcaster, environmentalist, and anticorruption advocate Dr. Gerry ortega.” The decision, the statement said, “comes a few weeks before the eighth year anniversary of Doc Gerry’s murder.” It had been “eight years of fighting for justice and press freedom,” said the family, adding that they had yet to receive a copy of the decision. “we will need time with our lawyers to study it and plan our next move,” the family said. “Until then, we ask everyone to remain vigilant.” In a Facebook post, ortega’s brother, Rafael Jr. described as “a bleak day for our justice system … the CA (decision) to overrule the proceedings of the Regional Trial Court (RTC).”

Robredo opposes no-election, term extension VICE President Leni Robredo on Sunday vehemently opposed plans of having no elections and extending the term of incumbent officials amid talks of amending the Constitution topave way for the shift to a federal form of government. Robredo said that such moves undermine the people’s inherent right to choose their leaders. “Itong No Elections, kontrang

kontra tayo doon,” she said during her weekly radio show, BISErbisyong LENI, on RMNDZXL 558. “Kasi iyon eleksyon, parang ito iyong pinakabuod ng ating demokrasya. Ito lamang iyong natatanging paraan para iyong ordinaryong Pilipino makilahok sa isang proseso na siya iyong pipili kung sino iyong mamumuno sa kaniya.” “Kasi kami namang mga na-

mumuno, hindi naman kami iyong boss, pero kami iyong boses ng ordinaryong Pilipino. Kapag inalis natin sa ordinaryong Pilipino iyong karapatang pumili kung sino iyong magrerepresent sa kaniya, nasaan na iyong demokrasya doon?” Moreover, she said moving to extend the term of sitting officials would seem “self-serving.” “[K]ung makikinabang kami,

parati nang may kuwestiyon kung ano iyong intensyon bakit magkakaroon ng term extension. Parang self-serving: ‘Gusto naming palawigin iyong aming termino, kaya magpapasa kami ng isang panukala o isang batas para habaan pa iyong kontrata namin sa mga Pilipino’ ... Nasaan iyong katarungan doon?” she said. “Hindi pansariling interes. Kasi kung kami din iyong

makikinabang, parating magdududa iyong ating mga kababayan kung bakit sinusulong iyong ganoon. Parang gusto lang naming palawigin iyong kapangyarihan na ibinigay sa amin,” she added. Meanwhile, the Vice President underscored the need for a “more serious” discussion on proposed amendments to the Constitution. Rio Araja

MWSS chief cites achievements; water PPP works wonders wITH the Private Public Partnership among Metropolitan waterworks and Sewerage System, Manila water, Maynilad and Luzon Clean water Corporation continuing to work wonders, MwSS Administrator Reynaldo V. Velasco said that 2017 was a good year brought about by strong investors confidence on the administration of President Rodrigo Duterte. The water agency managed to implement several projects geared towards providing adequate water supply to Metro Manila residents and nearby proavinces. “our mission at MwSS is to work with our partners in progress for the well-being of our consumers notably on water supply for the 15 million consumers that must always be sufficient, safe, and continuous for personal and domestic uses,” Velasco said over the weekend. To map out a new 10-year development plan on new water sources that zeroes in on Umiray and Sumag (350 MLD), Kaliwa

(600 MLD), Laiban (1,800 MLD) and the possible reinstatement of wawa Dam (350 MLD) into an active state after 24 years of dormancy, MwSS has formed a new Technical working Group comprising of MwSS and its three concessionaires – Manila water, Maynilad and Luzon Clean water Development Corporation. The arching goal is to match Angat’s dam 4,000 MLD production. “Having these additional flagship projects approved and started in the next five years would be enough water Security and Legacy of the Duterte Administration for the next generations of Filipinos and consumers in Metro Manila, Rizal, Cavite, and Bulacan,” said Velasco. The MwSS chief expressed hope that the long overdue implementation of the Kaliwa Dam with P10.2 billion oDA funds from China will soon commence as three contractors are now vying to build the new water source that will provide additional 600 MLD to the supply of potable water in Metro Manila.

MWSS has managaed to implement projects geared toward providing adequate water to Metro residents.

International fora

From March 28 to 30, 2017, MwSS Administrator Velasco also took active part in the 4th Board of Council Meeting of the Asia water Council (AwC) held in Beijing, China attended by water experts and leaders from various countries.

During the Beijing water conference, Velasco was officially elected to the AwC Council Board. “I will always promote the best interest of the country and MwSS as I look forward to what AwC can do to help and benefit the Philippines in the future,” he said. The conference a paved the

way for him to be invited as one of the resource speakers on Sustainable Development Goals (SDG) in the waterworks industry in the first AIww and Korea International water week (KIww) held I from September 20-23, 2017 in Gyeongju, South Korea.

Opinion

MONDAY, JANUARY 8, 2018

Adelle Chua, Editor

EDITORIAL

What is excessive?

HE Palace has released new guidelines covering foreign trips of officials and employees in executive offices, after President Rodrigo Duterte declared that he would fire those who are found to have traveled abroad excessively.

In a memo dated Jan.3, Executive Secretary Salvador Medialdea said ofﬁcial trips can only be approved by the heads of agencies if they meet the following criteria: The purpose of the trip is strictly within the mandate of the requesting

official or personnel; The projected expenses of the trip are not excessive; and The trip is expected to bring substantial benefit to the country. Unfortunately, the memo does not say what amount is considered excessive, nor does it specify how to quantify the “substantial benefit” to the country. Just as importantly, the memo fails to state how many trips in a year can be considered excessive. Is there a rule of thumb? For example, are 12 foreign trips in a year—that’s one a month— excessive? The administrator of the Maritime Industry Authority (Marina), who was fired for excessive travel, said his 21 trips in a year and a half was not excessive, saying these were part of his job.

Marina, he insisted, is an international organization and that part of his job was to attend meetings of the International Maritime Organization (IMO) headquartered in London. The Philippines, he said, as part of the executive council, had to attend 16 meetings annually. He also said the meetings were necessary and beneﬁcial for the country, as Marina was safeguarding the country’s position as the major provider of seafarers. The chairman of the Commission on Higher Education (CHED), meanwhile, has brushed off accusations that she bypassed the Ofﬁce of the President by granting travel authorities to herself for the eight trips she took in 2017. CHED chairman Patricia Licuanan says these accusations from one congressman are simply untrue, and she has the docu-

ments to prove it. This would be easy enough to verify with the Office of the President, but again, where does one draw the line and say this is one trip too many? Was it crucial to her job for the CHED chairman to participate in Philippine Information Day and visit French universities in Paris, France? Another issue, in the case of the CHED chairman, is whether it is right that public officials travel on Business Class, particularly when the government is trying to cut costs, and when even the President flies Economy. The executive order issued on Jan. 3 is a step in the right direction, but it doesn’t go far enough. Without specificity and hard and fast rules, discretion—or indiscretion—will always rear its ugly head.

Wanted: A unifying theory of behavioral economics By Noah Smith

A Constitution without a bill of rights WHAT goaded me to write this was a brief but characteristically cerebral text of Justice Adolf Azcuna to retired Chief Justice Art Panganiban on the Bill of Rights in an amended or a revised Constitution. But ﬁrst things ﬁrst. A Constitution without a Bill of Rights is possible. The example that immediately comes to mind is the American Constitution. Almost all that is enshrined in the Philippine Bill of Rights will be found in “Amendments” to the US Constitution: thus the First Amendment, taking the Fifth, etc.

These amendments were necessary appendages to the Constitution that did not have them to get the states to accept the Federal Constitution. Another example is the Australian Constitution. The subcontinent “down under” is far from being on the list of notorious human rights violators—but its Constitution has no Bill of Rights. When the Supreme Court and the Philippine Judicial Academy sent a team to study Australian commercial and intellectual property law, it was my good fortune to be chosen to be part of the group headed by the revered civil law guru of the country, Justice Jose Vitug. I was surprised when the justices of the Federal Courts of Australia—our mentors —told us that the

Australian Constitution contained no bill of rights. And when I asked the obvious question: How then are the rights of citizens guaranteed? One justice pointed to himself and his colleagues and said: “We are the Bill of Rights.” Obviously, the United Kingdom, that has no written constitution, has no Bill of Rights either but hardly have Brits complained that their is a country that transgresses their fundamental rights. In one case involving the interim period between Cory Aquino’s assumption to power (that was immediately followed by the demise of the 1973 Constitution) and the promulgation of the interim Freedom Constitution, the residence of Major General

There are some rights that need no law to be recognized.

Josephus Ramas was searched and incriminating evidence seized, sans warrant. When the State later sought to introduce the seized evidence against the accused, the latter interposed the guarantee of their right to privacy as enshrined in the exclusionary rules. The government argued that the rule was effete as no constitution was in place. The Supreme Court ruled that even if no Constitution

was in place, and therefore no Bill of Rights guaranteed the rights invoked, the Philippines remained a party to the international conventions and covenants protecting fundamental rights and so remained bound to their observance. It is, after all, a fundamental precept of international law that never does domestic law constitute a valid defense for non-compliance with international law obligations, whether these be of conventional or customary provenance. Chief Justice Reynato Puno, by a separate opinion, took the argument farther: Even without a constitution, he argued, there are some rights that need no law to be recognized—the rights that reason discerns

to be inherent in human personhood. So, while a litany of rights may very well be omitted from the Constitution—to no advantage, really and with clearly no beneﬁt to such an omission—it is not possible for the Philippines to thereby consign human rights to oblivion or to leave it to the whim of government to determine which rights it recognizes and which claims to rights it rejects. Human rights have a universal nature. In fact, ever since the UN Charter, human rights have ceased to be a domestic issue. They are a concern of international law and are guaranteed by the community of nations. One of the elements of statehood is effective government—and one Turn to A5

BEHAVIORAL economics has always met with a bit more resistance than it deserved. This is true even though a number of behavioral researchers have won the Nobel—Daniel Kahneman, Robert Shiller and Richard Thaler just last year. Despite this and other forms of official recognition at the highest levels, there continue to be some economists who have an almost instinctive aversion to behavioral ideas themselves. Meanwhile, though research in behavioral economics itself continues, behavioral ideas haven’t spread—in most fields of econ, the vast majority of models continue to be based on an idealized, perfectly rational homo economicus. Meanwhile, the occasional economist still feels comfortable declaring that the behavioral paradigm is doomed. What’s the reason for the continued resistance? Part of it surely has to do with the cultural residue of the 1970s and 1980s. In those days, many economists saw their purpose as defending free markets (a few doubtless still do), and the idea that human beings are irrational seemed to threaten that ideal. To allow for the existence of systematic, important deviations from rationality would be to open the door to corrective government intervention—an implication that frightens plenty of people outside economics as well. But ideology isn’t the only reason for the reluctance. Behavioral ideas are difficult to put into economic models. For one thing, many psychological biases and irrationalities involve people behaving in very complex, situation-dependent ways—people mayunderreact to market movements in one situation, and overreact in another. Economics models are mathematical in nature, and representing the full Turn to A5

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Opinion

MONDAY, JANUARY 8, 2018

Charter change through con-ass Stewardship of the environment and natural resources WELL recognized and even envied is the rich endowment of natural resources of the Philippines. We have fertile, arable lands, diverse flora and fauna, extensive coastlines, and one of the richest mineral deposits in the world. Ironically, these national assets have remained a potential that has not been efficiently managed as a strategic economic pillar that would generate revenues for government, support local industries and generate quality employment for the poorest sector of society. Experts from the minerals development industry have called for a clear and comprehensive natural resources roadmap. This would become the basis for sound developmental policies that will ensure responsible stewardship of the strategic resources and strict compliance to environmental regulations. This would harmonize and hopefully resolve policy gaps and establish a wellbalanced developmental mindset. These, in turn, would address the contentious issues that are linked to the use of natural resources. In response to President Duterte’s call for to be more responsible in doing business, the Chamber of Mines of the Philippines (COMP) has formally adopted Canada’s sustainable mining model called “Toward Sustainable Mining” or the TSM initiative. These are standards developed by the Mining Association of Canada (MAC) designed to enhance the environmental and social performance of the mining industry. The program is fast becoming a global standard and is currently implemented by national mining associations of Finland, Argentina and Botswana. The adoption of CoMP is first within the Southeast Asian region. A few months ago, I stated in this column that the mining industry obtained some sense of direction after the inter-agency Mining Industry Coordinating Council (MICC) officially voted to lift the ban on openpit mining issued by former Department of Environment and Natural Resources (DENR) Secretary Gina Lopez “provided that mining laws, rules, and regulations are strictly enforced. DENR Secretary Roy Cimatu said DENR would follow the MICC recommendation, in what industry has lauded as a positive development for the sector. But not long after, in a sudden policy twist, President Duterte announced that the ban on open-pit mining stays. This is yet another confusing turn in government policy. Apparently, a follow-up news report quoted Department of Finance (DOF) Undersecretary Bayani Agabin clarifying that, “The President has made a policy decision and we respect that, but since the report, the findings of the TWG (technical working group) has not found its way to Malacanan yet, so the decision was nevertheless to submit it to the President for whatever purpose it may serve,” In the same article, DOF assistant secretary Ma. Teresa Habitan, said the report would be available this month and will then be forwarded to the President. She further explained that the MICC decided to provide the president the info provided by the TWG so it will be in the form of memorandum giving him a basis for future policy decisions.

So I hope that with the scientiﬁc facts presented to the President, like the MICC, he would appreciate the comprehensive thought process that led to the recommendation—and then reconsider his position on the open pit ban. This impasse again suspended what could have been the start of a new era for the mining industry and would have released a wave of mega-investments that would spark a long-term cycle boosting the country’s industrialization and economy. Models from all over the world throughout history have proven that the mining industry plays a critical role in the industrialization of an economy, which in turn is an important step in bringing about inclusive growth. I also believe that lifting

Open-pit mines can be safely operated and rehabilitated.

of the ban also represents an excellent opportunity for large-scale miners to prove themselves by cleansing their ranks and weeding out the non-compliant mining operations showing their critics that there is in truth responsible mining. The CoMP has taken serious steps to police its ranks and raise what are already stringent standards set by law. A self-regulated mining industry will definitely complement the government’s thrust to protect the environment and maximize the benefits of mineral assets. The biggest prospective open pit mines are the $2-billion Silangan mine in Surigao del Norte and the $5.9-billion Tampakan project in South Cotabato, which if allowed to operate, will be the biggest foreign investment and one of the largest copper and gold prospects in the world. The case study of Philex Mining Corporation’s Silangan project presented to the MICC demonstrates strict compliance to existing regulatory safety nets in addressing the concerns about open pit mining and summarized the 4 prescribed imperatives of responsible mining: Technical feasibility, environmentally compliance, social acceptability and financial viability. These are requisites that all industries, not just mining, should adopt. Aside from Silangan Mine there are many-award winning models of rehabilitated mines such as: the wild duck sanctuary of what was the tailings pond of Philex’s Bulawan Mine; Sitio Lalab which has become greener than ever before as a result of the rehabilitation of Sibutan Gold mine in Zamboanga del Norte also by Philex; in the same province is the greening of Canatuan Mine of TVI Resource Development; and there are Nickel Asia’s nickel mines in Taganito, Surigao del Norte and Bataraza, Palawan that even former Secretary Gina Lopez commended as benchmarks for mining. All of these provide hard evidence that open-pit mines can be safely operated and rehabilitated and transformed to benefit local communities for generations.

THE cat is out of the bag. House Speaker Pantaleon Alvarez gave us portents of things to come with federalism under a new revised Constitution. Note that the key word is no longer mere amendments but a total, complete revision of the 1987 Constitution. Alvarez, the henchman in the House of President Rodrigo Duterte, said this week it is possible there would be no midterm elections in 2019. That means congressmen and other local officials whose terms expire in 2019 will stay on as holdovers. Neat. Senate President Aquilino Pimentel III of the ruling PDP-Laban party said federalism would also mean no election for President Duterte’s successor. Mr. Duterte, therefore, will be also a holdover president, extending his term of ofﬁce beyond the six-year limit under the 1987 Constitution. In essence, this is what federalism means under a revised charter in the agenda of a Constituent Assembly. To elect Duterte as prime minister during the transition from presidential to federal/ parliamentary form of government is the game plan of the supermajority in the House of Representatives. With their sheer number in the House,

these congressmen subservient to Malacanang can do just that—extend Duterte’s rule by electing him Prime Minister. This is the Palace playbook, plain and simple. No amount of denial or subterfuge can stop the people from seeing through this charade. The only remaining barrier to this grand scheme is the people’s consent when the new, revised Constitution is submitted to a plebiscite or referendum. Every citizen who values his freedom and right of suffrage must resist this brazen attempt to subvert the people’s will. In a press brieﬁng in the Malacanang of the South in Davao, Presidential Spooksman (this is not mistyped because he’s scaring us to death and it’s not even Halloween yet ) Harry Roque tried to dispel talks of a term extension for President Duterte, claiming “it’s out of the question.” But then, who believes a presidential mouthpiece? He’s supposed to say everything and anything according to script until his statements are disowned by the Boss himself. The people cannot really be blamed for being skeptical about statements coming from the Palace. Presidential power is intoxicating. Once you have had a taste of it, you don’t want to ever let go. Some hold on to power for half a century, like Zimbabwean President Robert Mugabe

who was placed under house arrest and forced to resign by the military. The 93-year old Mugabe ruled Zimbabwe (formerly Rhodesia ) for 37 years under dictatorship. If President Duterte wants to leave his mark and earn his legacy in Philippine history, he should tell Alvarez and Pimentel to cease and desist from talking about these things. Mr. Duterte still has ﬁve years left in his term. What he should focus on is good governance. He should serve out his term improving the lives of the Filipino people. The 1987 Constitution is vague or unclear if the House and the Senate should vote separately on issues and controversial changes in the revised Constitution. But with the present composition of the Senate, the revised charter can still be rammed through by Duterte’s supporters. What is the inimical implication of a totally revised Constitution? “We will have a totalitarian regime,” said 1987 Constitutional Convention member Christian Monsod, adding federalism would perpetuate political dynasties and warlordism. He does not believe President Duterte who said he’s ready to step down and cut his term once federalism is approved. Really, he’s going to hand over power to Vice President Leni Robredo? The veep has not even been invited to ceremonial dip-

lomatic functions at the Palace. Anybody but Leni is Malacañang’s unspoken policy toward Robredo. Monsod decried the fact that 73 percent of the population does not know anything about the Constitution which is why they are not alarmed at the machinations of Malacanang and Congress. What is alarming is the citizenry’s lack of interest in this very important issue. We are a happy people, according to a recent Gallup poll that listed us third happiest nation in the world. I guess we are, because we are always smiling even if they are sticking a knife onto our collective backs. Davao Rep. Karlo Nograles, the chairman of the House appropriations committee, said a Constitutional Convention would cost P7 billion. This is of course to justify Congress convening itself into a Constituent Assembly instead of electing delegates to a Constitutional Convention. Aside from representing Duterte’s hometown of Davao, Nograles belongs to the supermajority at the House of Representatives. Nograles said the cost of electing the delegates, paying their salary and renting the venue for the Con Con would be staggering. The estimate is most probably less than what taxpayers spend to elect more than 200 congressmen who now want to arrogate unto themselves the revision of

the Constitution. As far as the venue is concerned, the Philippine International Convention Center is ideal. Used for international conferences, the government could declare it rent-free for a national undertaking such as a Constitutional Convention. In an interview over DZMM radio-TV, Pimentel claimed that a federal system would decentralize power presently concentrated in “Imperial Manila.” A federal system, said Pimentel, would create regional centers of power. He also urged proand anti-charter change proponents to go out and speak up on the issue. This columnist has no political affiliation. I’m speaking out on the subject as urged by Senator Pimentel. There is is an old axiom that says “if it ain’t broke, don’t fix it.” The 1987 Constitution, written during President Cory Aquino’s revolutionary government, is certainly broke. It needs fixing. Fine, let’s fix it but don’t do a total overhaul designed to suit certain vested interests. The present Congress, in the people’s eye, is an extension of Malacañang. So now, the super majority in the House wants to extend the President’s term and also their own by convening themselves into a Constitutional Assembly which would give them reason to scrap the mid-term election in 2019. This is brazen and shameless.

Europe can’t afford a leaderless Germany Bloomberg editorial MORE than three months after its federal election, Germany still has no new government. Oddly enough, this may be less of a problem for Germany, which continues to enjoy a strong economic run, than it is for the European Union. The euro zone needs reform, and that won’t happen without German leadership. Angela Merkel promised in a speech on New Year’s Eve to form a government promptly. That’s easier said than done.

Talks between Merkel’s Christian Democrats, the Greens and the Free Democratic Party collapsed in mid-November. Merkel has since negotiated with the Social Democrats, but neither party is eager to revive their earlier alliance, and they remain distant on a range of topics including immigration and taxes. New talks with the Social Democrats are expected to start this weekend. It’s to be hoped they succeed, and that the two sides recognize the need to make mainstream centrism—now

Wanted:... From A4

complexity of human behavior with math would make models unwieldy. A second problem is that drawing too many different insights can lead to a problem called overfitting. Overfitting is when scientists make models that are so flexible that they seem to explain everything but are able to predict nothing. It’s possible to overfit by making a single model that’s too malleable, but the same result can be achieved by cooking up a different explanation for every different piece of data that you want to explain. Economics already has plenty of the latter kind of overfitting. Each new question tends to be answered with a new model. Most of the models are mutually contradictory, but economists tend not to lose much sleep over this fact. Given that this practice is already widespread, many economists feel that they don’t need behavioral insights in addition—if they can make a new model that relies only on assumptions about technology, or information, cost structures, or other things that would concern a purely rational actor, why bother to add ideas from psychology? Meanwhile, those economists who do worry about the overfitting problem fret that bringing psychology into the mix will just make things worse. So behavioral economics probably won’t be-

A Constitution... From A4

wonders how effective a government can be, over an extended period, that systematically, arrantly and contumaciously rides roughshod over universally recognized rights, such as

under threat in Germany, as elsewhere—successful and popular. But there’s a fair chance that Merkel will be forced to lead a minority administration or call new elections. Meanwhile, her support is ﬂagging. A recent poll found that 46 percent of respondents want her to quit immediately. In one way, the lack of urgency is understandable: The paralysis in Berlin isn’t yet hurting the German economy. Growth is strong, and unemployment has fallen to its lowest since the early

1990s. The rest of the euro zone, not before time, is also enjoying a strong recovery, spreading lately even to laggards such as Portugal and Italy. However, the single-currency system is still deeply flawed, and another financial crisis would expose its weakness. In particular, it lacks a fiscal system that can funnel resources from countries that are doing well to others in recession. he problem is widely acknowledged, and the European Commission has put forward a planto address it. The proposals

come widespread without a more unified theory to tie the paradigm together. Although this hurdle is unfair, the reality is that behaviorism can’t afford to remain as a collection of disparate effects and anomalies. Enter Xavier Gabaix. The French-born Harvard professor has been on somewhat of a mission to incorporate behavioral economics into the mainstream. In a recent paper, he made behavioral modifications to a standard macroeconomic model, and showed how this could resolve a number of puzzling questions all at once. Now, he’s setting his sights higher, with an attempt to create a unified theory of behavioral econ. Gabaix’s unified theory is based on limited human attention. Standard economic theory requires that consumers and businesspeople pay very close attention to a vast array of prices, quantities and other information. Because keeping track of this flood of information is very costly, it makes sense to think that people economize on what they pay attention to. That kind of economizing is called bounded rationality, a term coined by polymathic social scientist Herbert Simon, himself a recipient of the econ Nobel. Gabaix puts Simon’s idea into elegant yet powerful math. When people in Gabaix’s model receive new information, they only partially incorporate it into their thinking. He applies this idea to a dazzling array of economic questions, and finds that it tends to explain lots of the apparent anomalies and questions that have plagued

the right to due process. Rawls was not too far off the point when, reﬂecting on what people hypothetically blinded to their own prejudices and individual inclinations, would choose to be the principles by which society is organized, he arrived at the conclusion that people

would like the widest possible range of liberties for each that is compatible with a similar range of liberties for others. And that is not possible without a recognition of rights. A government that nonchalantly sets aside this fundamental rule of distributive justice courts

include a new ﬁnancial mechanism for cushioning shocks. In a speech last year, France’s President Emmanuel Macron also laid out plans for greater ﬁscal integration. None of these ideas will be seriously discussed— much less put into effect—until Germany has a fully functioning government. For its own sake, but even more because Europe’s wider problems need to be confronted, Germany must delay no longer and get itself a new government.

researchers. If taxes change, the impact may be reduced because people don’t immediately pay attention to the ways that their incentives are different. People may temporarily ignore changes in inflation and other macroeconomic variables, throwing a wrench into the economy and creating more of a role for activist monetary and fiscal policy. Lack of attention to the future can make consumers short-sighted. Overconfidence and other psychological biases can also be represented as forms of limited attention. Gabaix even shows how limited attention can lead to both overreaction and underreaction in asset markets. Will Gabaix’s unified theory of limited attention catch on? It will be an uphill battle. Adding limited attention means one more variable for economic theorists to deal with when solving their equations, and one more parameter for empiricists to estimate. But the idea is a deep and powerful one, and Gabaix himself is the perfect salesman. He’s no crusader—he uses purely rational models as freely as behavioral ones, and has the respect of even the staunchest defenders of the old paradigm. In trying to create a new unified theory of economic behavior, he’s following in the footsteps of another French economist: the great Gerard Debreu, whose purely rational model of “general equilibrium” now forms the foundation of much of economics. The odds seem long for Gabaix’s model to fully supplant Debreu’s as the standard, but it could herald a new era of increased influence for the behavioral approach. Bloomberg

the rejection and the ire of the people. Another element of statehood articulated by the Montevideo Convention on the Rights and Obligations of States is the capacity of a State for foreign relations. And a State that ﬂaunts its disregard for basic rights

is one that endangers its capacity for foreign relations. The community of nations has, after all, been rather consistent in its refusal to deal with rogues—and rightly so! rannie_aquino@csu.edu.ph rannie_aquino@sanbeda.edu.ph rannie_aquino@outlook.com

News

MONDAY, JANUARY 8, 2018

mst.daydesk@gmail.com

AFP modernization gets P25-b boost By Ben Cal

HE government has set aside for 2018 some P25 billion for the modernization program of the Armed Forces of the Philippines that will cover the acquisition of brand new attack helicopters, tanks and other military hardware.

AFP deputy chief of staff for plans and programs Maj. Gen. Restituto Padilla Jr. said the acquisition of new military hardware is long overdue, adding that the modernization program has been implemented at a snail’s pace because of budgetary constraints. Padilla said the military will procure brand new attack and utility helicopters for the Philippine Air Force and tanks

for the Philippine Army. The PAF has recently acquired a dozen new FA-50 jets from South Korea worth P18.9 billion. This, however, is still a far cry from its inventory years back when PAF was second to none in Southeast Asia in terms of defense capability, with squadrons of jet fighters such as F-5s, F-8s and Sabre jets. All of these warplanes

have been retired long ago. There was also a time when the PAF had in its inventory over 140 helicopters but this had drastically reduced over the years due to wear and tear. The Philippine Navy is also in dire need of buying new ships to secure the country’s long sea lane, which is twice the length of the United States. PNA

AHEAD OF THE TRASLACION. MMDA workers arrange orange plastic barriers in preparation for the traditional ‘pahalik’ today at the Quirino Grandstand, a day before the Black Nazarene

Traslacion on Jan. 9. Norman Cruz

Three persons, including 2 children, killed in Benguet road mishap; three others injured By Dexter A. See ITOGON, Benguet—Three persons, including two children, were killed while three others, including a two-year old child, were injured in a road mishap at Sitio Gueset, Tingongdan. Itogon police head Chief Inspector Eu-

gene Raymundo said the victims’ Nueva Vizcaya-bound pickup suffered mechanical trouble and fell into a 50-meter deep ravine along the Benguet-Nueva Vizcaya road. Raymundo identiﬁed the fatalities as Judea Layno, 13; Juleah Layno, 9 and Fely Layno, 60. Those who were injured were SPO3

Jeofel Berlito Layno, 43, who is assigned at the Dupax del Norte Municipal Police Station and the driver of the ill-fated vehicle; Judith Layno, 39, and Joriech Layno, 2, all residents of Nueva Vizcaya. Concerned residents and volunteers from the Itogon municipal government and rescuers from Benguet and Baguio City helped res-

cue the victims from the accident site. However, the fatalities were declared dead on arrival at the Baguio General Hospital and Medical Center due to multiple head and body injuries. The injured survivors are still undergoing close medical supervision in the said health facility for similar injuries.

THE Bureau of Fire Protection has declared the fire at Ayala Center Cebu’s Metro Department Store and Supermarket was declared under control yesterday afternoon, with damages initially pegged at P100 million. BFP-Central Visayas director Samuel Tadeo said the blaze, while it has yet to be declared a fire-out, can no longer affect other establishments in the mall. Senior Fire Officer 2 Christopher Orbiso only the shoe section of the department store on the second floor remained on fire. Firemen had difficulty entering the building as the structure has weakened and the upper floors were in danger of collapsing. By 3 a.m. Saturday, the fourth floor of Metro Ayala already collapsed. Employees and customers of the department store, which is within the Ayala Center Cebu mall, safely got out of the establishment when the fire started Friday evening. Meanwhile, the Trade Union Congress of the Philippines is calling for a joint fire safety audit of all malls nationwide following the two separate fire incidents in Davao and Cebu. “It is outrageous to see another fire taking place in Metro Ayala mall and Gaisano mall in Cebu City when just 15 days ago 38 workers perished in NCCC Mall fire in Davao City. These are not isolated incidents. There is a widespread violation of malls owners to fire safety standards and compromise the safety of mall goers and well-being of mall workers to cut costs and make bigger profit for themselves,” TUCP President Raymond Mendoza said. “The ongoing Metro Ayala Mall and the Gaisano mall and the NCCC Mall fires are symptoms of the wanton disregard of department store owners to go around our building safety laws and ignore workplace policy on workers’ health and safety. We have to find out other malls nationwide how safe or how firerisks these are,” he added.

Fisheries Code blamed for low fish production

Ati-Atihan Festival pays tribute to Mindanao KALIBO, Aklan—The 2018 Kalibo Sto. Niño AtiAtihan Festival version will pay tribute to Mindanao and its people, its organizers here said. Albert Menez, chairman of the Kalibo Sto. Niño AtiAtihan Foundation Inc., said in a press conference that ﬂags bearing the colors of Mindanao are being installed in the province’s major thoroughfares. The Kalibo Sto. Niño AtiAtihan Festival 2018 will start on January 15 and will culminate on January 21. “Already, I have been receiving comments from those who saw the ﬂags who said they felt they were in Mindanao. Mindanao is part of the Philippines and we are paying tribute to them,” Menez said. Menez said hotels and airplanes going to and coming from Kalibo are already booked in time for the revelry. The Kalibo Ati-Atihan Festival is considered as the “Mother of Philippine Festivals.” PNA

Cebu mall fire under control, caused P100m in damage

By Bill Casas

FOR THE MUSICALLY-INCLINED. A man sells guitars and ukeleles along Luneta Park in Manila. Lino Santos

A fisherfolk group on Sunday blamed the dwindling municipal fish production to the repressive provisions of the amended Fisheries Code under the Republic Act 10654, including its registration and licensing requirements. Citing a report of the Philippine Statistics Authority, the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas said that total volume of production for fisheries was estimated at 971 thousand metric tons during the 3rd quarter of 2017, which is 3.89 percent less than the output for the same quarter in 2016. Pamalakaya said strict fishing restrictions such as the registration and licensing schemes that curtail the fishing activities of small fisherfolk affect fish production. The group also scored the continuous entry of commercial fishing fleets that exploit municipal water resources as contributing to the depleting fish catch. “Small fishers bear the brunt of high costs of boat registration and licensing fees. Failure to comply dreads them with another costly fines and strict penalties like community service, confiscation of fishing gears and worse, imprisonment,” Pamalakaya chairman Fernando Hicap said.

CYAN MAGENTA YELLOW BLACK Manila

StandardENERGY Republic of the Philippines REGULATORY COMMISSION TODAY

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San Miguel Avenue, Pasig City

IN THE MATTER OF THE APPLICATION FOR APPROVAL OF THE POWER SALES AGREEMENT BETWEEN DAVAO DEL SUR ELECTRIC COOPERATIVE, INC. AND MAPALAD PARTNERS, INC., WITH PRAYER FOR PROVISIONAL AUTHORITY,

The arithmetic average of the values as of the December 31, 2015 of the United States Consumer Price Index for all Items; as published by the International Monetary Fund, provided that if the International Monetary Fund ceases to publish such indices, the relevant indices as published by the U.S. Department of Labor Bureau of Labor Statistics shall apply. Outage Factor as derived using the following formula to be used.

Where:

ERC CASE NO. 2017-085 RC

DAVAO DEL SUR ELECTRIC COOPERATIVE, INC. AND MAPALAD PARTNERS, INC., Applicant. x - - - - - - - - - - - - - - - - - - - - - -- -- - - - - - - - - - - - x

Where: TMED

NOTICE OF PUBLIC HEARING TO ALL INTERESTED PARTIES:

If: ∑ED < ∑TMED,F < 1 1.2

Where:

Joint Applicants may be served orders and other processes through the undersigned counsel.

FOMR CPIn

= =

Pursuant to Rule 20 (B) of the ERC Rules of Practice and Procedure, approved by this Honorable Commission on 22 June 2006 in Resolution No. 38, Series of 2006, this Application is submitted to this Honorable Commission for its review and approval of the Power Sales Agreement (“PSA”) dated 22 November 2016 between DASURECO and MPI.

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USDn

USDo

Fixed O&M Fee Rate of Php 194.3778/kw/month Consumer Price Index for Metropolitan Manila Area (National Capital Region), all items published by NEDA/NSO for the period of price determination Consumer Price Index for Metropolitan Manila Area (National Capital Region), all items published by NEDA/NSO for September 2013 (at 126.9, 2006 = 100) USD-Peso Exchange Rate for the period of price determination as published by Bangko Sentral ng Pilipinas USD-Peso Exchange Rate is at Php43/USD1

A copy of the PSA is attached hereto as Annex “B.”

The corresponding proofs of receipt are attached hereto as Annexes “C” and series. 6.

F= TMED

The First PSA is expiring on 28 December 2017, or until receipt of a provisional or final approval of the PSA from this Honorable Commission, whichever is earlier. Upon the expiration of the First PSA, DASURECO will immediately lose 15 MW of supply.

33. The financial model discloses the basis for the tariff under the PSA. It includes all the formulas and calculations as well as the assumptions and values considered therein. 34. In accordance with Section 1, Rule 4 of this Honorable Commission’s Rules of Practice and Procedure (“ERC Rules”), Applicant MPI respectfully moves that the financial model be treated as confidential information for the following reasons:

1 if the foregoing formula results in F being greater than1

34.1. The financial model qualifies as a “trade secret” as contemplated under existing jurisprudence. 34.2. In the case “Air Philippines Corporation vs. Pennswell Inc,”1 the Supreme Court defined “trade secret” as follows:

If: ∑ED = ∑TMED,F = 1 If ∑ED > ∑TMED,F> 1, excess will be carried over to the next year, if the excess is attributed to an event initiated by the Buyer calling for the dispatch of the Power Station to deviate from the agreed Dispatch and Nomination Procedures (Schedule D), and which applies only on to scheduled maintenance of these generating units.

STATEMENT OF FACTS

MOTION FOR CONFIDENTIAL TREATMENT OF INFORMATION 32. As mentioned above, the financial model attached as Annex “N” is hereby submitted under a motion to treat information confidential.

A summation of the ED & TMED for a given Contract Year shall be made to determine true F during the Contract Year. Such yearly F factor shall be basis for adjustment of the CRF for the Contract Year. The adjustment shall be guided by the following conditions:

Copies of the newspaper and the corresponding affidavit of publication are attached hereto as Annexes “D” and “D-1,” respectively.

Necessity for Power Supply. MPI currently supplies 15 MW to DASURECO under an existing Power Sales Agreement dated 16 October 2013 (the “First PSA”) from the generation facilities located in the premises of DASURECO in Brgy. Cogon, Digos City, Davao del Sur (the “MPI Power Station”).

A copy of the said analysis is attached hereto as Annex “V.”

Monthly Actual Energy Delivered TMED

Theoretical Maximum Energy Delivered being the Contracted Capacity multiplied by the hours in the relevant month, limitation due to dispatch order, Force Majeure of the Power Station, transmission line downtime due to Buyer’s fault, and non-generation due to a Buyer dispatch order, and any other hours as a consequence of Buyer’s failure to perform any of its obligations

Furthermore, Joint Applicants have caused the publication of the present Application in its entirety, excluding its annexes, in a newspaper of general circulation within DASURECO’s franchise area.

Fixed Operation & Maintenance Fee (FOMF)

The Fixed Operation and Maintenance Fee (FOMF) covers the operating and maintenance costs of the Power Station. It shall be computed according to the following formula:

Mapalad Partners, Inc. (“MPI”) is a corporation duly authorized and existing under the laws of the Republic of the Philippines, with principal address at 4th Floor, Alphaland Southgate Tower, corner EDSA and 2258 Chino Roces Avenue extension, Makati City.

In compliance with Rule 6 of the ERC Rules of Practice and Procedure, Joint Applicants have furnished the legislative bodies of each of the local government units where they principally operate a copy of the present Application with all its annexes and accompanying documents.

31. The results of the said analysis are summarized in the table below.

If ∑ED > ∑TMED,F> 1, excess will be carried over to the next year, if the excess is attributed to an event initiated by the Buyer calling for the dispatch of the Power Station to deviate from the agreed Dispatch and Nomination Procedures (Schedule D), and which applies only on to scheduled maintenance of these generating units.

Copies of MPI’s Certificate of Incorporation, Articles of Incorporation (“AOI”), Certificate of Filing of Amended AOI with the attached Amended AOI, By-Laws, latest General Information Sheet, Audited Financial Statements, and MPI’s corporate structure are attached hereto as Annexes “A” and series.

30. The procurement of additional supply from MPI will help provide much needed peaking power to DASURECO and, based on the analysis, will result in a downward adjustment of over 10 centavos per kWh in DASURECO’s total generation costs.

If: ∑ED = ∑TMED,F = 1

THE APPLICANTS

COMPLIANCE WITH PRE-FILING REQUIREMENTS

29. In order to determine the impact of the implementation of the PSA on DASURECO’s generation costs, an analysis was conducted taking into consideration DASURECO’s projected demand for 2017and available supply from other suppliers.

Davao del Sur Electric Cooperative, Inc. (“DASURECO”) is a non-stock, nonprofit electric cooperative organized and existing under Presidential Decree No. 269, as amended, with office address at Brgy. Cogon, Digos City, Davao del Sur. DASURECO has a franchise to distribute electricity in Digos City and the Municipalities of Magsaysay, Sulop, Sta. Cruz, Hagonoy, Malalag, Bansalan, Padada, Matanao and Kibalawan in the province of Davao del Sur, and the Municipalities of Don Marcelino, Jose Abad Santos, Malita, Santa Maria and Sarangani in the province of Davao Occidental.

NATURE OF THE APPLICATION

RATE IMPLICATIONS OF THE POWER SALES AGREEMENT

1 if the foregoing formula results in F being greater than 1

DASURECO and MPI alleged in their Application the following:

A copy of the COC and the application for its transfer are attached hereto as Annexes “U” and “U-1,” respectively.

Monthly Actual Energy Delivered TMED

Theoretical Maximum Energy Delivered being the Contracted Capacity multiplied by the hours in the relevant month, limitation due to dispatch order, Force Majeure of the Power Station, transmission line downtime due to Buyer’s fault, and any other hours as a consequence of Buyer’s failure to perform any of its obligations

Notice is hereby given that on 22 September 2017, Davao del Sur Electric Cooperative, Inc. (DASURECO) and Mapalad Partners, Inc. (MPI) filed their Application seeking the Commission’s approval of their Power Sales Agreement (PSA), with prayer for the issuance of a provisional authority.

28. Certificate of Compliance. This Honorable Commission has issued the necessary Certificate of Compliance (“COC”) for the power station subject of the present Joint Application. The said COC was issued under the name of Mapalad Power Corporation (“MPC”), which previously had the rights over the power station prior to its assignment to MPI. Although a transfer of COC from MPI to MPC is not required under the 2014 Revised Rules for the Issuance of Certificates of Compliance, MPI nevertheless filed an application for the said transfer.

“A trade secret is defined as a plan or process, tool, mechanism or compound known only to its owner and those of his employees to whom it is necessary to confide it. The definition also extends to a secret formula or process not patented, but known only to certain individuals using it in compounding some article of trade having commercial value. A trade secret may consist of any formula, pattern, device, or compilation of information that (1) is used in one’s business; and (2) gives the employer an opportunity to obtain advantage over competitors who do not possess the information. Generally, a trade secret is a process or device intended for continuous operation of the business, for example, a machine or formula, but can be a price list or catalogue or specialized customer list. It is indubitable that trade secrets constitute proprietary rights.”

If ∑ED < ∑TMED,F< 1 1.3. Variable Operation & Maintenance Fee (VOMF) The Variable Operation arid Maintenance Fee (VOMF) covers the cost of the use of, among other items, chemicals, lubricants and spare parts, that are directly related to the generation of the Power Station. It shall be computed according to the following formula:

Procurement Process for Supply. Thus, DASURECO executed efforts to procure the appropriate power supply to replace the 15 MW.

35. Also, the financial model was prepared and developed for the exclusive use of MPI, and is designed for the specific use of the company in its power generation business. Consequently, should the financial model be disclosed to the public, it could easily be copied or used by MPI’s competitors or other entities engaged in the power business for their own benefit, and to the prejudice of MPI. Thus, the commercial value of the said model will be diminished significantly.

10. In compliance with ERC Resolution No. 13, Series of 2015, DASURECO conducted a competitive selection process (“CSP”) in the procurement of its supply. Copies of a write-up on the process and the relevant CSP documents are hereto attached as Annexes “E” and series. 11.

NPC Certification. DASURECO has formally requested the National Power Corp. (“NPC”) for a certification on whether it will have available capacity and energy to supply DASURECO during the term of the PSA. NPC has not yet formally responded to such request. A copy of the said request is attached hereto as Annex “F.”

12. Supply from PSALM. DASURECO and the Power Sector Assets and Liabilities Management Corporation (“PSALM”) have a Contract for the Supply of Electric Energy (“CSEE”). The CSEE is in force until 25 December 2017 only based on the Letter of Agreement dated 1 December 2016.

Where: VOMF VOMFR ED USDn

= = = =

USDo CPIn

= =

CPIo

A copy of the said Letter of Agreement is attached hereto as Annex “G.”

16. Demand Side Management. A certification from DASURECO as regards demand side management is attached hereto as Annex “J.”

39. In accordance with Sections 3 and 4, Rule 4 of the ERC Rules, Applicant MPI reserves the right to use the financial model and its contents as evidence, and respectfully moves for the issuance of a Protective Order. ALLEGATIONS IN SUPPORT OF THE MOTION FOR PROVISIONAL AUTHORITY 40. As discussed above, DASURECO and MPI have an existing supply agreement dated 16 October 2013 for the supply of 15 MW from the MPI Power Station. 41. The aforementioned supply contract will expire on 28 December 2017, or until receipt of a provisional or final approval of the PSA from this Honorable Commission, whichever is earlier. Upon the expiration of the said supply contract, DASURECO will immediately lose 15 MW of supply.

AFC = FCR X Specific Fuel Oil Consumption x ED Where: FCR

Specific Fuel Oil Consumption ED

42. Hence, unless a provisional approval is received before 28 December 2017, DASURECO will immediately lose 15 MW of supply after the said date. Thus, in order to help ensure sufficiency of power supply to DASURECO’s customers, a provisional approval of the supply under the PSA must be already available before the said date.

Fuel Price of Diesel Fuel Oil based on the weighted average of all fuel delivered during the billing period. =

0.265 liter/kWh

kWh delivered during the billing period

43. Since the issuance of a final approval the Joint Application may take some time due to the time needed by the ERC in evaluating the said Application, it would be best for DASURECO to have an available provisional authority by the time the PSA expires.

1.5 Value Added Tax The relative Value Added Taxes (“VAT”) of the above fee payments 12% shall be computed as follows:

17. Under the law, no contract for the supply of power can become legally effective unless approved by this Honorable Commission. Hence, this Joint Application. ABSTRACT OF THE POWER SALES AGREEMENT AND RELATED INFORMATION

38. Further, all parties furnished copies of the present Application are not furnished copies of the documents subject of the present motion.

The Actual Fuel Cost (AFC) is the fee paid to the Seller as payment for the procurement and delivery of the fuel oil (Diesel) used in the operation of the Modular Power Station. The Actual Fuel Cost shall be computed as follows:

14. Since the MPI Power Station is already existing and operating, it can readily supply power to DASURECO immediately after the expiration of the First PSA provided the prayer for provisional authority is granted.

Copies of DASURECO’s DDP and supply-demand projections are attached to the Application as Annexes “H” and “I,” respectively.

37. In accordance with Section 1 (b), Rule 4 of the ERC Rules, an electronic copy of the financial model is contained in one compact disc and submitted in a sealed envelope marked with the word “Confidential.”

1.4. Actual Fuel Cost (AFC)

13. Urgency of Supply. In order to help ensure sufficiency of power supply to DASURECO’s customers, the supply under the PSA must be already available at the expiration of the aforementioned supply agreement.

15. Demand Projections. Moreover, the supply from the MPI Power Station will help address the expected steady increase in the power demand in DASURECO’s franchise area. The expected increase is indicated in DASURECO’s Distribution Development Plan (“DDP”) and supply-demand projections.

36. Given the foregoing, the financial model qualifies as “confidential information” as defined under Section 2, Rule 4 of the ERC Rules.

Variable O&M Fee, in Pesos Variable O&M Fee Rate of Php 0.59/kWh kWh delivered during the billing period USD-Peso Exchange Rate for the period of price determination as published by Bangko Sentral ng Pilipinas USD-Peso Exchange Rate is at Php43/USD1 Consumer Price Index for Metropolitan Manila Area (National Capital Region), all items published by NEDA/NSO for the period of price determination Consumer Price Index for Metropolitan Manila Area (National Capital Region), all items published by NEDA/NSO for September 2013 (at 126.9, 2006 =100)

44. Since the MPI Power Station is already existing and operating, it can readily supply power to DASURECO under the PSA as soon as the prayer for provisional authority is granted.

VAT= (CRF + FOMF+VOMF +AFC+ Start- Up Cost) x 0.12 1.6 Start-Up Costs (SC)

18. The Generation Facilities. MPI shall supply power under the PSA using leased modular diesel-fired power generating plants with a total net output of fifteen (15) MW located in the premises of DASURECO in Brgy. Cogon, Digos City, Davao del Sur.

45. In view of the foregoing, Joint Applicants respectfully move for the provisional approval of the instant Application pursuant to Rule 14 of the ERC Rules of Practice and Procedure.

The Buyer, on a pro rata basis of the capacity of the Power Station allocated to the Buyer, shall pay the Seller Start-Up Costs for the cost of starting up the Modular Power Station after a period of shutdown due to any reason attributable to the Buyer of the Seller. The Start-Up Costs shall be computed based on the prevailing price of diesel fuel at the time of the Start Up and paid in accordance with the following formula and schedule:

19. The MPI Power Station consists of 16 units of diesel generator sets and auxiliaries, with a total installed capacity of 1,070 kW per unit; 4 units of transformer package; 1 unit each of control room, switch gear, and oil water separator; diesel fuel tanks with auxiliaries and water tanks; 1 unit each of workshop and of office; and a transmission line from the MPI Power Station to DASURECO’s substation.

A copy of a sworn statement supporting the said motion is attached hereto as Annex “W.” INAPPLICABILITY OF CERTAIN REQUIREMENTS 46. Certain documentary requirements contained in this Honorable Commission’s Checklist of Pre-Filing Requirements for Applications for Approval of Power Supply Agreement are not applicable to the present Joint Application. A written explanation on the inapplicability of the said requirements is attached hereto as Annex “X.”

A brief description of the technical characteristics of the MPI Power Station is attached hereto as Annex “K.” 20. The Specific Fuel Oil Consumption (“SFOC”) rate of the MPI Power Station shall not be greater than 0.265 liter/kWh at site condition of 32 deg. C ambient temperature, and is based on the Plant’s use of diesel fuel with a density of 0.85 kilogram/liter. A copy of a certification on the MPI Power Station’s SFOC rate is attached hereto as Annex “L.” 21. Salient Features of the PSA.

Liters of Diesel Fuel Per Generator Set

Cold Start-up (more than 10 hours of shutdown)

Warm Start-up (less than 10 hours of shutdown)

PRAYER WHEREFORE, premises considered, Joint Applicants DASUERCO and MPI respectfully pray that this Honorable Commission: 1.

issue an Order declaring the financial model attached hereto as Annex “N” as confidential information within the purview of Rule 4 of the ERC Rules, as well as directing that the financial model be treated with confidentiality and be protected from public disclosure;

21.1. Supply of Power Requirements. Under the PSA, MPI shall make available, reserve, guarantee and deliver to DASURECO the contracted electric power (“Contracted Capacity”) of fifteen (15) MW and the Dispatchable Energy, as indicated in and subject to the terms and conditions of the PSA.

22.1. Sample computation. For reference, a sample computation of the rate is contained in Schedule C of the PSA.

issue the corresponding Protective Order in accordance with Section 2 and 4 of the said Rule 4;

22.2. Equivalent PhP /kWh computation. A computation of the equivalent PhP / kWh for the fixed fees is attached hereto as Annex “M.”

immediately issue an Order provisionally approving the present Joint Application; and

21.2. MPI shall have the option of supplying the Contracted Capacity or any part thereof, from other sources, provided that the cost of such supply is lower than or equal to the cost of supply from the MPI Power Station. The cost of such alternative supply to DASURECO shall be a full passthrough cost to DASURECO.

22.3. Basis for indexation. As indicated in the formulas above, the monthly fees to be paid by DASURECO are subject to adjustments based on various indices or factors in order to properly reflect the fluctuation of MPI’s costs in producing electricity.

after due hearing, render judgment approving the Power Sales Agreement subject of the instant Joint Application, as well as the generation rate and adjustment mechanisms indicated therein.

21.3. Commencement of Supply. MPI shall commence supplying power on the date designated by MPI to DASURECO in writing as the date on which the MPI Power Station is ready to commence supply (“Commencement Date”). 21.4. Term. The term of supply and purchase under the PSA shall be for ten (10) years from the Commencement Date, unless otherwise extended or renewed by mutual agreement of the parties in writing. 21.5. Effective Date. The obligations under the PSA shall become effective on the Effective Date, which shall be upon this Honorable Commission’s approval of the PSA, including the pricing structure therein. 21.6. Transfer of Ownership. Ten (10) years after the Commencement Date, MPI shall transfer to DASURECO, the ownership of the MPI Power Station, free from any lien or encumbrance. 22. Purchased Power Rate. For the capacity drawn by DASURECO to MPI, DASURECO shall pay the monthly payments based on the following formulae: 1.

Type of Start-Up

Monthly Payments The Monthly Payments shall be paid to the Seller on a monthly basis in accordance with the following formula:

Monthly Payments = CRF+ FOMF+VOMF +AFC+ SC+Taxes Where: CRF FOMF VOMF AFC SC Taxes

= = = = = =

Capital Recovery Fees Fixed Operation and Maintenance Fee Variable Operation and Maintenance Fee Actual Fuel Cost Start-Up Costs Value-Added Tax and other applicable taxes, if any 1.1 Capital Recovery Fee (CRF) CRF shall be computed as follows:

Joint Applicants pray for other just and equitable relief under the premises.

The components of the fees representing foreign currency-denominated costs are adjusted based on the foreign exchange rate and the appropriate price indices; those representing local costs are adjusted based on local price indices. The Actual Fuel Costs vary based on the cost of fuel purchases.

The Commission has set the Application for determination of compliance with the jurisdictional requirements, expository presentation, Pre-trial Conference, and presentation of evidence on 30 January 2018 (Tuesday) at ten o’clock in the morning (10:00 A.M.) at DASURECO’s Main Office in Brgy. Cogon, Digos City, Davao del Sur.

22.5. Financial Model. A copy of MPI’s financial model for the tariff is attached hereto as Annex “N.” As discussed below, the financial model is the subject of a Motion for Confidential Treatment of Information.

All persons who have an interest in the subject matter of the instant case may become a party by filing with the Commission a verified Petition to Intervene at least five (5) days prior to the initial hearing and subject to the requirements under Rule 9 of the 2006 Rules of Practice and Procedure, indicating therein the docket number and title of the case and stating the following:

224.

23. Sources of Funds/Financial Plans 23.1. Cost of Equity. The project will be funded by equity. A breakdown of the cost of equity is attached here to as Annex “O.” 23.2. Project Cost. A breakdown of the total project cost for the MPI Power Station is attached hereto as Annex “P.” 24. Cash Flow. 24.1. Breakdown of Operating and Maintenance Expenses. A breakdown of the projected operating expenses is attached hereto as Annex “Q.” 24.2. Offtake Arrangement. Under the PSA, MPI shall make available, reserve, guarantee and deliver to DASURECO the Contracted Capacity, and DASURECO shall pay for such quantity of electric power. MPI shall utilize such Contracted Capacity to generate energy for DASURECO. 24.3. There is no minimum energy offtake under the PSA. As MPI will dedicate the Contracted Capacity to DASURECO, the Capital Recovery and the Fixed Operations and Maintenance Fees are computed based on the Contracted Capacity as well as on the proportion of actual energy delivered to the energy that could have been delivered. 24.4. Also, the capacity to be provided by MPI shall always be the Contracted Capacity. In case the actual capacity delivered by MPI, as per dispatch order or limitation of DASURECO for a given billing month is less than the Contracted Capacity, the difference between the actual capacity utilized by DASURECO and Contracted Capacity for that billing month shall be deemed delivered to and utilized by DASURECO. 25. Fuel supply. The fuel necessary for the operations of the MPI Power Station will be supplied by the supplier who offered the best terms after offers were solicited from reputable suppliers in the area.

The petitioner’s name and address;

The nature of petitioner’s interest in the subject matter of the proceeding and the way and manner in which such interest is affected by the issues involved in the proceeding; and

A statement of the relief desired.

All other persons who may want their views known to the Commission with respect to the subject matter of the case may file their Opposition or Comment thereon at any stage of the proceeding before Applicants rest their case, subject to the requirements under Rule 9 of the 2006 Rules of Practice and Procedure. No particular form of Opposition or Comment is required, but the document, letter, or writing should contain the following: 1.

The name and address of such person;

A concise statement of the Opposition or Comment; and

The grounds relied upon.

All such persons who wish to have a copy of the Application may request from Applicants that they be furnished with the same, prior to the date of the initial hearing. Applicants are hereby directed to furnish all those making such request with copies of the Application and its attachments, subject to the reimbursement of reasonable photocopying costs. Any such person may likewise examine the Application and other pertinent records filed with the Commission during the standard office hours. WITNESS, the Honorable Chairperson and CEO AGNES VST DEVANADERA and the Honorable Commissioners ALFREDO J. NON, GLORIA VICTORIA C. YAP-TARUC, and GERONIMO D. STA. ANA, Energy Regulatory Commission, this 11th day of December 2017 in Pasig City. FOR AND BY AUTHORITY OF THE COMMISSION

A copy of the relevant fuel supply agreement is attached hereto as Annexes “R.”

Where: CRFR CC USDn

= = =

USDo FCPn

= =

Capital Recovery Fee Rate of PHP 488.21/kw/month 15,000kW Average USD-Peso Exchange Rate for the month as published by Bangko Sentral ng Pilipinas USD-Peso Exchange Rate is at Php43/USD1 The arithmetic average of the values of the United States Consumer Price Index for all Items, as last published on or before the last day of such billing month by the International Monetary Fund; provided that if the International Monetary Fund ceases to publish such indices, the relevant indices as published by the U.S. Department of Labor Bureau of Labor Statistics shall apply.

26. Environmental Compliance Requirements. The Department of Environment and Natural Resources has issued the necessary Environmental Compliance Certificate (“ECC”) covering the MPI Power Station.

JOSEFINA PATRICIA A. MAGPALE-ASIRIT Oversight Commissioner for Legal Service

A copy of the ECC is attached hereto as Annex “S.” 27. DOE Certification. The Department of Energy (“DOE”) has certified that the capacity of the MPI Power Station is consistent with the DOE’s Power Development Plan. A copy of the said certification is attached hereto as Annex “T.”

G. R. No. 172835, 13 December 2007. (MS-JAN. 8/15, 2018)

CYAN MAGENTA YELLOW BLACK

Sports

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

MONDAY, JANUARY 8, 2018

Arellano U tossers grab lead ARELLANO University overpowered Emilio Aguinaldo, 25-19, 25-12, 25-11, to zoom to the solo lead, even as Perpetual Help bared its title intention with an emphatic 2521, 25-17, 25-22 win over Lycuem of the Philippines University yesterday in the 93rd NCAA women’s volleyball competition at the Filoil Arena in San Juan City. Necole Ebuen, a rookie transferee from Letran, pounded in 15 hits, including 12 off attacks while Jovielyn Prado uncorked 12 points to help the Lady Chiefs, who waylaid the Mapua Lady Cardinals, 25-10, 25-17, 25-13, in the opener Thursday, grab the top spot. It was also AU’s 14th win in row, including 12 straight from last season when it rattled off eight in the elimination round, one in the stepladder semis Satrriani Espiritu of San Beda Lady Red Spikers scores a point against Jose Rizal University’s Christine Ebuenga and Karen Montojo in the NCAA women’s volleyball tournament recently. The and three in a final sweep Red Spikers won, 23-25, 25-19, 13-25, 25-19, 15-9. Sonny Espiritu of San Sebastian. “We can’t afford mistakes in this kind of format so we have to get as many wins as we can,” said AU coach Obet Javier. The Lady Altas were equally impressive on new coach Macky Carino’s debut. Maria Lourdes Clemente, Cindy Imbo and Maria Aurora Blanca Tripoli LOS ANGELES—Stephen nix’s third quarter surge did the After shining bright in his first came out firing with 14, By Jeric Lopez Curry erupted for 45 points trick. two games, NLEX super rookie 13 and 10 points, respecto propel the Golden State The Fuel Masters poured in 34 Kiefer Ravena was somehow limtively, while Jowie Albert Warriors to a 121-105 NBA NCE again, Phoenix’s balanced attack paid points in the third canto against ited by the Phoenix defense. Verzosa chipped seven afvictory over the Clippers in only 20 of NLEX, resulting in a He only ended up with eight ter taking over the starting dividends as it was able to deal NLEX its Los Angeles on Saturday. sizeable 88-73 advantage going points and seven assists, while Larjob from Jhona Rosal, who first loss, 102-95, and gain its second straight into the fourth quarter. Curry, who has dazzled ry Fonacier had game-high honors was sidelined indefinitely since returning from an While NLEX tried desperately for NLEX in its first taste of defeat. due to ovarian cyst. win in the 2018 Philippine Basketball Association 11-game injury absence, to give itself a chance, Phoenix The Road Warriors held an early In other games, Perpetual Philippine Cup at the Smart Araneta Coliseum connected on eight of his stood its ground and kept its foe double-digit lead, 19-9, but imHelp bested LPU, 25-18, 25yesterday. 16 three-point attempts and at bay, breezing through to pre- mediately, the Fuel Masters dug 20, 25-13, to set in motion made a career-high 15 of serve the victory. itself out of trouble before slowly its title-retention bid in the his 16 free-throws. The Fuel Masters drew a team- at 2-1. RJ Jazul tallied 15 markers, but surely wrestling control of the juniors’ division, while also He sat out the entire high 19 points, five rebounds and Following a slow first-quarter while rookie Jason Perkins con- game away from NLEX. winning its game against fourth quarter, but his 45 seven assists from Matthew Wright, start, Phoenix fired from all cylin- tinued his solid play with 14. Big Meanwhile, Barangay Ginebra LPU, 25-19, 25-13, 25-18, in points in 29 minutes on the while Jeff Chan came off the bench ders in the last three quarters. men Justin Chua and Doug Kram- (1-0) is shooting for its first win the men’s side. floor marked the fifth time to score 18 points as they led six While the game was still up for er contributed as well, scoring as it is battling unpredictable GloMeanwhile, San Beda in NBA history that a playplayers in double-figures. grabs by halftime with the Fuel 12 and 10, respectively, for more balPort (0-1) as of this report in forfeited two games after er scored 45 or more in 30 The two teams are now tied Masters only ahead, 54-53, Phoe- firepower for Phoenix. the nightcap. midfielder Dane Penaminutes or less. flor was found to have “I knew right away, been ineligible that sent when I got free for a couple the defending champion of threes in the first quarter skidding from the top and they went down, I got spot to fourth in today’s in a rhythm,” Curry said. Final Four of the seniors’ LOS ANGELES—Dustin Johnson low American Brian Harman, the bogey of the day at 11. “Beyond that, you just keep football competition holed out for an eagle to highlight a overnight co-leader who carded a He responded with an eagle at the your head down and keep at the Rizal Memorial seven-under par 66 that gave him a four-under 69 for 205. par-four 12th, where he holed out shooting and stay aggresComplex field. two-shot lead Saturday at the PGA Spain’s Jon Rahm was alone in from 72 yards out, his second shot sive.” Tour Tournament of Champions in third, matching the best round of the landing on the green and rolling in. In the four games since Hawaii. day with a 66 for 207. It was a fur“I drove it kind of the left side, I his return, Curry has averThe world number one added six ther stroke back to Americans Rickie thought I hit a pretty good drive and aged 36 points while shootbirdies, including a six-footer at the Fowler and Jason Dufner on 208. it was just in the left rough,” Johnson ing 65.6 percent from the 18th, to give himself a 54-hole total Johnson, who started the day one said. “I had not very far to the hole. field. of 16-under 203 on the Plantation stroke behind Harman and Austra- I just landed my shot perfect. It got “He’s on fire,” said WarCourse at Kapalua on Maui. lian Marc Leishman, had three bird- on the green and it was tracking right SILANG, Cavite—Tom riors coach Steve Kerr. Kim survived a wobbly He was two strokes ahead of fel- ies on the front nine before his only towards the hole.” AFP “Maybe the break was finish as he watched Luis good for him. He’s been Castro flub a pressureamazing.” packed birdie putt from Curry’s performance five feet on the final hole meant the reigning NBA to hack out a one-stroke champion Warriors hardly victory with a one-over 73 missed forward Kevin DuTHE Palawan Pawnshop-Palawan going with deadline for listup for Corp. with Slazenger and Dunlop Fr. Suarez added that he hopes in the Philippine Amateur rant, who was again sideOpen Championship at Express Pera Padala tennis circuit the juniors (Group I) on Wednesday as official balls, also serves as the the circuit in general will serve as Riviera Golf and Country lined with a right calf strain. kicks off another 50-leg nationwide (Jan. 10) and on Friday (Jan 12) for first PPS tie-up with the healing a platform for the young, talented Club here yesterday. Leading by nine at halftour on Jan. 13 with the first PPS- the Open (singles and doubles) and priest, a tennis buff. players to hone their skills and But while the men’s crown time, the Warriors outPEPP Fr. Fernando Suarez Cup fea- inter-school categories (individual “Tennis is not only a sport for strive for excellence. was decided on the last hole scored the Clippers 39-21 turing the juniors, the inter-school singles and doubles). me but a passion,” said Fr. Suarez. For details, call PPS-PEPP Sports and last putt, the women’s in the third quarter, expandand Open divisions at Colegio The event, organized and sanc“My love for the sport is unparalProgram Development director and tiara was secured as early as ing the lead to as many as San Agustin in Bulacan. tioned by the Unifi ed Tennis Philipleled and it is a duty for everyone organizer Bobby Mangunay at the third round with Hwang 30 points. AFP Registration is onpines and presented by Asiatraders who loves the sport to promote it.” 0915-4046464. Min-jeong completing her

Fuel Masters turn back Road Warriors, 102-95

Curry lights up Clippers, leads Dubs to triumph

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Kim, Hwang rule Am golf

Fr. Suarez Cup kicks off 50-leg nationwide tennis tour

dominant run by posting a whopping winning record of 16 strokes over fellow Korean Kim Hee Ji despite a closing 73 in the country premier championship sponsored by the MVP Sports Foundation, hosted by the Riviera Golf Club, Inc. and backed by One Tagaytay Place Hotel Suites. Kim actually also headed for a romp in men’s play after storming to a four-shot lead over Rupert Zaragosa and ﬁve ahead of Castro after 54 holes. But the reigning Phl Junior champion stumbled at the ﬁnish at the frontside of the Couples layout, bogeying two of the last three that marred his 73.

Youngsters take spotlight at Pradera Ladies Challenge Annyka Cayabyab

(left) and Laurea Duque hope to provide the exuberance of the youth for Team PH.

YOUNG turks get the chance to hog the limelight in the Pradera Verde Ladies Challenge, all primed up to make an impact for their respective teams when the second staging of the event is held Jan. 15-17 at the Pradera Verde Golf and Country Club in Lubao, Pampanga. Team Southeast Asia will pin its hopes on 13-year-olds Pimkwan Chookaew and Phannarai Meesom-us of Thailand, and Singapore’s Shannon Tan as it shoots for a repeat of their convincing victory in the inaugural staging of the event pitting the country’s leading jungolfers and amateurs against the top players from neighboring SEA countries last year.

But Team Philippines has also bolstered its roster in an attempt to get back at the visiting squad, tapping in-form Yuka Saso and Harmie Constantino to anchor a side that also features a pair of talented 13-year-olds in Annyka Cayabyab and Laurea Duque. Cayabyab, a Grade 8 student at St. Paul Pasig who notched a number of titles abroad, including the Junior World in San Diego, the Veritas Junior Golf and the Future Champions of Golf International, both in California, posted one victory last year in partnership with Mikha Fortuna in four-ball. But the former youngest Most Outstanding Kapampangan awardee, now 13, hopes to put in a

stronger performance in the upcoming blueribbon event. So does Duque, the De La Salle-Zobel mainstay, 13, who had stints in the US Kids Golf and Teen World Championship and eager to provide the youth power and deliver for the hosts in the three-day championship patterned after the Ryder Cup. Other members of Team Phl, co-skippered by Norman Sto. Domingo, Rolly Romero and Daisy Reyes, are last year’s members Nicole Abelar, Tomi Arejola, Soﬁa Chabon, Bernice Olivarez-Ilas and Fortuna and newcomers Kayla Nocum, Saso and Constantino.

Market correction seen after a strong 2018 start B2

Business

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor business@manilastandard.net extrastory2000@gmail.com MONDAY, JANUARY 8, 2018

Govt set to start Metro expressway IN BRIEF Peza wants to keep ecozone tax perks THE Philippine Economic Zone Authority expressed conﬁdence the government will retain the tax incentives given to economic zone locators. “We’ve hurdled Train [Tax Reform for Acceleration and Inclusion] Act 1, but there is part 2. Everything is hanging,” said Peza director-general Charito Plaza. Peza deputy director-general Mary Harriet Abordo said the agency was protected by law by virtue of a provision in the Peza Act that states that ecozones should be operated and managed as a separate customs territory. “There’s already a Supreme Court ruling that says that separate customs territory is in effect foreign soil. So in effect, Peza is foreign soil by legal ﬁction. Since VAT [value added tax] follows the principle of cross border doctrine, so any sale from a locator’s supplier to an economic zone is considered to be cross border and is therefore VAT zero rated,” she said. She said the tax reform law did not repeal Section 8 of Peza law. Plaza said the agency was prepared to protect its mandate if a differing interpretation was given on Peza incentives. Othel V. Campos

By Darwin G. Amojelar

he Department of Transportation said it will break ground today for the P45-billion Southeast Metro Manila Expressway Project that will help decongest traffic in Metro Manila. Southeast Metro Manila Expressway is a 34-kilometer, six-lane, combined elevated and at-grade expressway with two directional traffic flow that starts in the south with a connection to the existing Skyway Stage 1 in FTI, Taguig City and

terminates at Batasan Complex in Quezon City. It will eventually connect to the North Luzon Expressway via Balagtas, Bulacan. The project costing about P45 billion will start construction this year. It is expected to be completed by 2020. The project is covered by a supplemental toll operations agreement signed by the Toll Regulatory Board, Philippine National Construction Corp., Citra Intercity Tollways Corp. as the investor and Metro O&M Corp. as the operator. Citra and Metro O&M are units of San Miguel Holdings Corp. SEMME is a part of the Metro Manila Expressway or the Metro Manila Circumferential-6 Road Expressway that San Miguel Corp. will build along with

PNCC. San Miguel said last year it would undertake the P554-billion expansion of toll roads under an existing joint venture with PNCC. The expanded road network will include extension of Metro Manila Skyway Stage 3 project and the Metro Manila Expressway, or C6/Skyway Stage 4. SMHC and PNCC are joint venture partners in Citra Central Expressway Corp. and Citra Intercity Tollways Inc., the concession companies of Skyway Stages 3 and 4, respectively. PNCC, through its legislative franchise, has the authority to construct, maintain and operate the South Luzon Expressway and Skyway Stages 1, 2, 3 as well as all extensions, linkages or

DoF readies 2nd package of tax reforms to Congress By Julito G. Rada

Energy optimistic on Malaya plant sale THE Energy Department is optimistic of the privatization of the 650-megawatt Malaya thermal power plant in Pililla, Rizal this year, following the issuance of natural gas industry rules. Energy Undersecretary Leonido Pulido III said Power Sector Assets and Liabilities Management Corp. started the privatization process for the Malaya power plant in February last year, but it was put on hold following the decision of Energy Secretary Alfonso Cusi to convert the plant into a liqueﬁed natural gas or coalﬁred power plant. “We put it on hold because the secretary wanted to change the TOR [terms of reference] to require that it would be converted into a LNG power plant or coal,” Pulido said. Pulido said the department must resolve legal and technical issues regarding the conversion prior to the privatization. “The question is how can you require it to be converted into LNG power plant if you don’t have the supply on hand…So we decided to suspend privatization of Malaya until we could come up with the assurance that there will be future supply and that assurance of future supply is the Philippine Downstream Natural Gas Industry Rules,” he said. Alena Mae S. Flores

Senate asked to clear European free trade THE Board of Investments said it expects increased trade between the Philippines and the European Free Trade Association once the Senate concurs with the proposed free trade agreement between the two parties. EFTA is comprised of highly-industrialized countries of Iceland, Lichtenstein Norway and Sweden. “We hope it will be a priority agenda. The Senate can afford to include it in the legislative agenda upon resumption of session,” said BoI managing head Ceferino Rodolfo. President Rodrigo Duterte ratified and confirmed the FTA with EFTA on Dec. 8, 2017. The Philippine-EFTA FTA covers trade in goods, services, government procurement, intellectual property rights, competition and sustainable development. It incorporates the existing rules and obligations with respect to areas governing trade in goods and trade in services with additional disciplines agreed upon by both parties. The agreement will allow the Philippines duty-free entry of industrial and fisheries tariff lines into any EFTA member-state. Othel V. Campos

stretches from any part of the existing toll roads. “Within the next year or so, we hope that work can begin on the extension of SLEx, Skyway Stage 3 and C6. We have within our agreement all the extensions that will help us create an entire seamless network of roads and expressways connecting Metro Manila to neighboring provinces. We will operate, between us, the most extensive network of Philippine tollways,” San Miguel president and chief operating ofﬁcer Ramon Ang said earlier. Ang said San Miguel and PNCC were ready to do their share to meet President Rodrigo Duterte’s call for greater private investment in order to usher in a “golden age of infrastructure.”

AUTO LOGISTICS HUB. “K” Line Auto Logistics Philippines opens an automobile pre-delivery inspection facility in Cabuyao, Laguna to serve as logistics provider to completely-built units from abroad. The two-hectare facility is a onestop shop which handles automobile shipping, customs brokerage and clearance, trucking, pre-delivery inspection and storage, before they are delivered to dealers. At the opening ceremony of the facility are (from left) KALP vice president and general manager Miguel Larrauri, president Rene Garcia, Rayomar chairman Ramon Garcia, Rayomar president Jose Ramon Garcia, Volkswagen Philippines after sales director Redentor Cajayon Jr., VW logistics manager Art Briones, Daito president Matsukawa Yuuichi, Daito directors Kajima Masahiko and Fukuda Morio, MDD president Tomohiko Watanabe, K Line Philippines vice president Shin Miyawaki and Orient Freight general manager Lourdes Panganiban.

FINANCE Secretary Carlos Dominguez III said his department is set to submit to Congress this month the second package of the Comprehensive Tax Reform Program, after President Rodrigo Duterte signed the first package into law in December. Duterte signed the Tax Reform Acceleration and Inclusion Act or Train into Republic Act No. 10963 on Dec. 19. The president instructed the DoF to ensure its effective implementation and immediately submit to Congress in early 2018 CTRP’s Package 2, which aims to lower corporate income taxes and modernize fiscal incentives to complement the expected incremental revenues from the first package. “We are very pleased that the legislature passed the TRAIN bill. The president

signed it into law although there are some provisions that he vetoed… We are moving forward with the implementation of the tax reform,” Dominguez said during the recent interagency Development Budget Coordination Council meeting. “We are going to submit to Congress the package two of the CTRP in January 2018,” said Dominguez. Dominguez said Package 2 would be neutral in terms of revenue potential. He said the DoF scored its ﬁrst major legislative victory for the Duterte administration and the Filipino people in 2017 with the approval and signing into law of Train, which would provide hefty income tax cuts for most taxpayers while raising additional funds to support the government’s accelerated spending on its ‘Build, Build, Build’ and social services programs.

Nomura keeps 2018 PH growth forecast at 6.9% Metro Pacific unit spending P10b JAPANESE global financial firm Nomura retained its 2018 growth forecast for the Philippines at 6.9 percent, saying the passage into law of the Tax Reform for Acceleration and Inclusion would further boost domestic consumption and generate more revenues for development projects. Nomura said in a report over the weekend the first package of the Comprehensive Tax Reform Program would generate more revenues for infrastructure projects that would eventually be beneficial to the economy. “We reiterate our above-consensus GDP growth forecast of 6.9 percent in 2018, with additional fiscal revenues helping fund more infrastructure projects,” Nomura said. Nomura said the incremental revenues from the first package

would increase as other measures kicked in such as a larger increase in fuel taxes which should coincide with continued improvements in the government’s capacity to implement infrastructure projects. It said this would allow the government to stick to its medium-term plan to keep the fiscal deficit at 3 percent of GDP or less, although for 2019 fiscal deficit would likely widen to 3.1 percent of GDP with the midterm elections. “We think that the provisions of RA 10963 [Train], beyond the overall fiscal impulse, are also highly growth-positive as they help improve the quality of fiscal spending. The law mandates that 70 percent of additional revenues is earmarked for infrastructure spending under the government’s

‘Build, Build, Build’ program,” it said. Under the ‘Build, Build, Build’ program, the government will construct more roads, bridges, airports, seaports, railways, water and irrigation projects around the country to spur more economic activities. Also included in the program is a 24-kilometer subway to be constructed in Metro Manila to decongest the metropolis of heavy trafﬁc. Nomura said the personal income tax cuts under Train would likely offset the impact of rising inﬂation for most taxpayers. Nomura estimates that in real terms, household disposable income would rise 6.8 percent in 2018 versus the 5.1-percent average annual increase over the past few years. Julito G. Rada

for two new toll roads in the south By Darwin G. Amojelar The tollway unit of Metro Pacific Investments Corp. said it will spend P10 billion this year to finance the construction of two expressways south of Manila. Metro Pacific Tollways Corp. chief financial officer Christopher Lizo said it would use the P10-billion capital expenditures for 2018 mostly for the construction of the Cavite-Laguna Expressway Project and C5-South Link Expressway Project. The P12-billion C5 South Link Project is a 2x3 lane expressway from Coastal Road to SLEx/C-5 Road with a total length of about 7.74 kilometers. This will allow residents from

Cavite, Las Piñas and parts of Parañaque to avoid Edsa and take a direct link between C5 and Cavitex. Cavitex Infrastructure Corp. president and chief executive Luigi Bautista said the new expressway which was expected to be completed in 2019 would add 40,000 to 45,000 vehicle trafﬁc per day, on top of the 130,000 vehicles currently using Cavitex. C5 South Link will ultimately connect with R1 Expressway (Coastal Road) and provide fast, safe and convenient travel for motorists going to and from Parañaque, Las Piñas and Cavite and for Paranaque residents in Multinational, Moonwalk and Merville villages.

Business

MONDAY, JANUARY 8, 2018 extrastory2000@gmail.com

Market correction seen after a strong 2018 start

Businessman acquires 9.9% stake in Phoenix By Alena Mae S. Flores TOP Direct Investments, a company owned by businessman Miguel Jose Valencia, acquired a 9.92-percent stake in Phoenix Petroleum Philippines Inc. through a special block sale valued at P2.13 billion. Phoenix Petroleum disclosed to the Philippine Stock Exchange Top Direct Investments, an investment and holding company organized under the laws of the Virgin Islands, acquired 142 million shares at P15 apiece. “TDI’s acquisition of equity interest in the issuer covered by this report is for investment purposes in the petroleum industry. TDI, does not, however, intend to acquire the shares of the issuer for purposes of taking over the same,” it said. Phoenix Petroleum is one of the country’s most aggressive oil companies today. The company recently diversiﬁed to the convenience store business by acquiring Philippine FamilyMart CVS Inc., or Philippine Family Mart. Phoenix Petroleum earlier said the acquisition of PFM would complement its retail fuel business, with 518 stations nationwide, and marked its entry into the fast-growing domestic convenience retail market. The value of the transaction was not disclosed.

By Jenniffer B. Austria

hares price are expected to correct this week after a strong start last week that saw the index reaching the 8,800-point level.

Philstocks Financial research head Justino Calaycay said the market correction might occur anytime soon after the Philippine Stock Exchange Index opened with a bang last week. Calaycay said the market sustained an upward momentum in the ﬁrst week of 2018 in the absence of nega-

tive news during the ﬁrst trading days of the new year. But he expects the market to correct once the inﬂation rate numbers for January and February are out, taking into account the impact of the higher excise tax approved by the government. Calaycay still sees the index reaching a high of between 10,700 and 11,000

points this year. “If domestic risks are contained or do not roll out, the market’s overall sentiment will stay positive even ahead of the 2019 political exercise and the extended bull run,” Calaycay said. “But risks also include rising inﬂation rate and a weakness in the current account as central banks in developed economies shift more toward tightening,” he added. The PSEi opened the ﬁrst trading week of 2018 with the a big jump, with the index surging 2.47 percent

to 8,770 and the All Shares Index climbing 1.73 percent to 5,076.32. Except for the services which dipped by 0.81 percent, all other sub-indices ended in the green, led by holding ﬁrms which rose 3.76 percent, property which advanced 2.97 percent and industrial gained 2.39 percent. Foreign investors were net buyers by P730.2 million, while average daily value traded stood at P9 billion. Weekly top price gainers were Universal Robina

MANILA STANDARD BUSINESS WEEKLY STOCKS REVIEW STOCKS

JANUARY 3-5, 2018 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 First Abacus I-Remit Inc. Manulife Fin. Corp. MEDCO Holdings Metrobank Natl. Reinsurance Corp. PB Bank Phil Bank of Comm Phil. National Bank Philippine trust Co. PSE Inc. RCBC `A’ Security Bank Sun Life Financial Union Bank Vantage Equities

3.4 60 160.00 113.80 33.35 3.89 2.00 9.06 15.7 32.3 0.71 1.75 1018.00 0.580 106.8 0.99 12 24.50 56.95 113.9 240 55.9 246 1890.00 86.90 1.26

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’ Conc. Aggr. ‘B’ 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 À’ 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. À’ RFM Corporation Roxas and Co. Roxas Holdings San Miguel ‘Pure Foods À’ 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 11.44 0.62 1.34 17384 0.217 138 19.56 5.25 15.6 162 62 83.5 52.5 64 1.93 5.53 10.84 11.240 14.72 7.75 5.60 12.60 1.66 16.12 62.95 29.45 10.28 18.2 2.130 255.00 58.55 4.24 3.24 20.80 29.1 18.3 17.78 329.20 0.204 9.00 2.19 9.34 5.90 5.6 62.4 8.40 1.75 13.66 6.75 4.98 2.2 4 530 1.89 13.06 5.4 0.134 1.18 163.9 2.99 1.95 24.00 0.78

Abacus Cons. À’ Aboitiz Equity Alliance Global Inc. Anglo Holdings A Anscor À’ ATN Holdings A ATN Holdings B Ayala Corp À’ 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 À’ Keppel Holdings `B’ Lopez Holdings Corp. Lodestar Invt. Holdg.Corp. LT Group Mabuhay Holdings À’ Metro Pacific Inv. Corp. MJCI Investments Inc. Pacifica À’ Prime Media Hldg Prime Orion Republic Glass ‘A’ San Miguel Corp À’ Seafront À’ SM Investments Inc. Solid Group Inc. South China Res. Inc. Top Frontier Unioil Res. & Hldgs Wellex Industries Zeus Holdings

0.315 76.00 16.40 1.03 6.98 0.420 0.455 1065 7.68 14.72 4.52 7.64 0.199 1367 7.70 77.95 5.76 5.4 5.36 5.83 0.71 18.94 0.325 6.66 3.3 0.0450 1.190 2.070 2.51 120.00 2.57 1020.00 1.80 0.88 287.000 0.2200 0.1830 0.202

8990 HLDG Anchor Land Holdings Inc. A. Brown Co., Inc. Araneta Prop À’ Arthaland Corp. Ayala Land `B’ Belle Corp. À’ Cebu Holdings CEB Landmasters Century Property City & Land Dev. Cityland Dev. À’ Crown Equities Inc. Cyber Bay Corp. Double Dragon Empire East Land Ever Gotesco Global-Estate Filinvest Land,Inc. Interport À’ Keppel Properties Megaworld MRC Allied Ind. Phil. Estates Corp.

6.400 12.44 1.05 2.380 0.880 45.500 3.86 5.7 4.72 0.480 1.14 1.170 0.224 0.450 40.8 0.650 0.144 1.43 1.90 0.75 4.98 5.3 0.370 0.3550

Value

FINANCIAL 467,840.00 2,397,736.00 1,917,280,697.00 631,644,812.00 29,260,710.00 1,050,200.00 3,528,650.00 2,718.00 917,250.00 189,143,880.00 391,000.00 406,400.00 1,848,890.00 569,030.00 1,375,593,565.00 1,594,320.00 4,890,210.00 119,700.00 9,509,869.00 600,564.00 24,490,718.00 18,843,130.50 1,836,427,394.00 10,305,210.00 7,876,844.00 1,254,910.00 INDUSTRIAL 3,196,300 131,925,500.00 3,174,400 38,270,068.00 1,292,000 796,560.00 2,157,000 2,889,970.00 47,800 839,908.00 1,010,000 221,390.00 1,270 174,597.00 8,100 160,687.00 16,601,000 85,212,286.00 4,087,200 63,790,504.00 120 19,500.00 3,450 208,426.00 10 835.00 2,480,210 127,043,839.00 864,960 54,722,302.00 270,000 515,510.00 294,300 1,561,487.00 32,200 350,960.00 7,750,600 87,722,758.00 5,130,100 75,436,756.00 6,977,600 53,008,957.00 17,827,600 100,057,764.00 5,883,100 73,803,844.00 6,000 9,960.00 10,468,500 172,712,616.00 293,200 18,368,221.00 1,842,300 52,342,035.00 501,400 5,286,622.00 1,977,900 36,130,880.00 9,793,000 20,969,740.00 2,308,830 589,608,562.00 220 12,881.00 568,000 2,385,580.00 24,000 76,290.00 1,200 24,440.00 8,041,400 225,412,725.00 434,900 7,977,712.00 3,895,400 69,682,018.00 1,412,440 464,427,920.00 710,000 142,410.00 59,900 517,721.00 8,938,000 19,606,870.00 9,392,000 87,112,908.00 382,700 2,270,582.00 1,026,600 5,890,564.00 400,010 24,987,914.50 324,000 2,722,849.00 7,190,000 12,243,200.00 3,334,000 44,658,836.00 10,300 541,901.00 3,105,000 15,428,860.00 313,000 742,460.00 71,000 284,550.00 88,910 47,121,265.00 1,682,000 3,231,490.00 830,900 10,999,012.00 306,300 1,683,583.00 12,990,000 1,721,540.00 470,000 553,980.00 6,353,670 1,010,083,641.00 90,000 263,780.00 13,109,000 25,679,330.00 300 7,105.00 980,000 766,810.00 HOLDING FIRMS 2,080,000 645,000.00 3,176,030 232,177,936.50 26,193,400 429,231,878.00 277,000 278,920.00 232,300 1,605,950.00 5,760,000 2,455,750.00 3,850,000 1,773,150.00 1,450,610 1,516,122,745.00 12,830,900 98,678,202.00 22,395,600 324,809,172.00 2,000 9,040.00 228,300 1,733,607.00 10,000 1,990.00 645,030 859,038,910.00 40,000 303,848.00 5,921,810 452,307,559.50 20,100 116,786.00 11,300 61,020.00 2,400 12,864.00 3,066,400 17,747,549.00 796,000 554,590.00 6,693,100 126,345,898.00 230,000 71,250.00 76,633,400 515,780,148.00 44,000 145,420.00 21,100,000 932,400.00 345,000 394,730.00 894,000 1,841,370.00 153,000 392,570.00 2,175,240 255,571,343.00 345,000 889,980.00 2,286,195 2,399,685,440.00 10,889,000 18,986,980.00 119,000 95,720.00 12,370 3,522,552.00 610,000 134,190.00 130,000 24,020.00 360,000 72,550.00 PROPERTY 7,719,800 50,947,664.00 88,500 1,096,834.00 11,280,000 11,756,110.00 376,000 875,190.00 2,016,000 1,773,990.00 30,712,500 1,382,576,055.00 3,458,000 13,285,700.00 156,000 882,942.00 2,544,000 12,119,500.00 13,150,000 6,401,800.00 177,000 193,380.00 227,000 266,150.00 23,170,000 5,243,360.00 1,000,000 450,050.00 1,245,100 50,569,040.00 1,017,000 659,590.00 330,000 46,770.00 7,572,000 10,884,270.00 40,904,000 77,512,350.00 1,684,000 1,248,050.00 2,000 9,980.00 91,293,700 482,876,939.00 151,120,000 53,506,850.00 4,500,000 1,587,200.00 139,000 40,030 11,923,450 5,646,850 878,500 270,000 1,768,000 300 58,500 5,826,300 550,000 236,000 1,910 973,000 12,980,240 1,628,000 390,700 4,900 166,790 5,040 103,200 338,680 7,351,130 5,435 90,590 1,002,000

DECEMBER 27-29, 2017 Close Volume Value 3.4 59.8 164.00 108.10 33.3 3.82 1.97 10 15.5 31.95 0.72 1.74 945.00 0.600 101.4 0.96 11.98 24.00 56.70 145 240 55.35 251.4 1930.00 86.65 1.24

211,000 66,700 9,395,020 4,664,470 1,567,300 222,000 1,442,000 300 57,900 4,959,100 905,000 450,000 880 705,000 7,023,610 2,842,000 270,700 14,000 118,260 3,610 269,880 371,580 538,430 450 32,720 498,000

713,840.00 3,968,806.00 1,500,725,442.00 500,760,891.00 52,148,225.00 856,100.00 2,897,760.00 3,000.00 907,670.00 158,325,610.00 646,410.00 783,630.00 827,720.00 415,410.00 708,783,621.50 2,793,090.00 3,204,540.00 336,000.00 6,758,953.50 507,456.00 63,164,360.00 20,630,686.00 136,392,036.00 871,400.00 2,840,593.50 618,280.00

41.55 12.2 0.62 1.35 17.36 0.224 120.1 20.35 4.88 16.18 188 60

3,109,200 6,402,000 4,054,000 6,976,000 78,700 4,060,000 1,420 16,700 10,645,000 739,700 270 3,180

128,664,210.00 78,563,774.00 2,493,410.00 9,229,480.00 1,344,944.00 874,950.00 176,383.00 336,946.00 51,424,730.00 11,926,704.00 50,880.00 193,216.00

45.95 63.2 1.9 5.39 10.92 11.060 14.78 7.35 5.74 12.00 1.66 17 62 26.85 10.78 18.82 2.230 253.00 58.55 4.1 3.2 21.00 28.05 18.6 18 328.60 0.204 8.68 2.15 9.17 6.10 6.14 61 8.40 1.57 13.00 6.8 4.97 2.55 4.06 529 1.99 13.46 5.4 0.134 1.18 151 2.98 1.96

1,700,600 136,170 254,000 95,300 84,100 17,969,800 1,890,700 3,405,900 23,691,200 2,579,700 14,000 1,844,600 117,170 494,600 481,000 1,144,700 5,031,000 1,758,910 583,760 619,000 70,000 6,000 2,181,400 998,300 5,904,100 1,542,120 440,000 74,700 16,475,000 14,308,500 78,700 831,400 2,060,350 248,300 1,355,000 11,226,600 1,187,300 3,526,600 3,091,000 157,000 62,160 617,000 1,791,700 314,800 22,440,000 397,000 3,883,050 116,000 23,031,000

77,041,700.00 8,647,077.00 484,740.00 515,204.00 911,678.00 199,278,314.00 27,739,230.00 24,902,084.00 135,003,192.00 31,048,286.00 23,410.00 31,281,160.00 7,369,448.50 13,329,365.00 5,187,712.00 21,388,088.00 11,018,900.00 445,661,568.00 34,179,148.00 2,540,140.00 218,470.00 125,500.00 61,171,950.00 18,443,122.00 106,303,264.00 502,719,406.00 88,150.00 643,799.00 35,801,090.00 132,352,962.00 478,018.00 5,074,604.00 125,361,563.50 2,077,346.00 2,115,120.00 145,562,020.00 7,784,661.00 17,562,736.00 7,859,640.00 644,750.00 32,954,470.00 1,197,680.00 24,024,434.00 1,700,188.00 3,003,080.00 480,330.00 594,485,405.00 341,320.00 44,930,950.00

0.78

2,922,000

2,284,180.00

0.310 74.00 16.00 1.00 7.05 0.410 0.460 1015 7.7 14.40 4.42 7.75 0.182 1292 7.36 72.10 6

910,000 2,328,800 11,760,700 11,000 21,700 18,600,000 18,260,000 582,545 16,664,000 10,779,900 17,600 14,200 200,000 273,860 143,200 4,648,130 13,100

278,450.00 170,592,336.00 188,197,490.00 11,000.00 152,668.00 7,922,400.00 8,673,200.00 594,899,175.00 128,237,431.00 156,528,210.00 88,902.00 110,134.00 36,520.00 351,571,955.00 1,052,897.00 340,594,063.00 79,174.00

5.6 0.69 18.74 0.305 6.85 3.4 0.0450 1.150 2.050 2.60 111.60 2.67 990.00 1.57 0.81 286.000 0.2200

12,487,500 343,300 13,579,100 1,150,000 34,402,800 16,000 34,200,000 815,000 1,184,000 1,555,000 799,220 253,000 990,290 3,312,470 250,000 28,600 330,000

70,216,921.00 436,290.00 122,869,939.00 356,250.00 234,495,753.00 53,340.00 1,504,600.00 927,180.00 2,420,040.00 4,105,280.00 89,322,341.00 666,970.00 984,114,385.00 2,863,630.00 202,000.00 8,095,514.00 72,570.00

6.730 12.88 1.00 2.280 0.900 44.600 3.88 5.75 4.88 0.490 1.10 1.170 0.229 0.455 39.7 0.650 0.148 1.43 1.88 0.74

9,244,500 185,000 5,022,000 171,000 2,222,000 26,274,600 7,824,000 104,800 4,406,000 35,040,000 5,000 328,000 85,970,000 1,850,000 1,168,900 1,257,000 720,000 10,525,000 16,661,000 1,022,000

61,993,166.00 2,377,134.00 4,997,330.00 394,170.00 1,959,230.00 1,166,599,460.00 30,321,400.00 578,921.00 21,357,810.00 16,856,350.00 5,500.00 371,950.00 19,326,790.00 820,650.00 47,200,535.00 816,770.00 101,250.00 15,133,280.00 31,493,820.00 748,970.00

5.16 0.335 0.3550

126,931,400 103,280,000 6,620,000

656,565,633.00 34,948,800.00 2,379,000.00

STOCKS

JANUARY 3-5, 2018 Close Volume

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

0.610 30.10 5.59 21.40 2.12 3.21 39.35 1.03 8.95 0.850 6.040

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. Easy Call “Common” FEUI Globe Telecom GMA Network Inc. Golden Haven Grand Plaza Hotel Harbor Star I.C.T.S.I. Imperial Res. À’ IPeople Inc. À’ 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. 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

20.3 35 1.43 0.475 0.042 11.9 5.4 11.28 0.0710 100 8.81 8.65 2.37 6.68 16.30 970 1805 5.95 21.00 11.70 4.64 107 2.76 13.7 8.31 0.141 1.3700 3.17 15.8 3.94 1.18 22.70 18.20 0.530 4.61 8.01 3.82 2.910 11.1 2.78 8.9 112.00 7.50 1445.00 0.355 1.290 49.50 94.10 5.60 3.13 1.530 2.62 4.07 1.000 8.200

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

0.0023 1.55 1.54 5.00 14.98 1.7500 1.7400 1.62 0.335 7.20 2.660 0.207 0.154 0.158 0.010 0.0100 1.7 6.59 1.48 0.4400 0.9300 0.0130 0.0120 6.38 8.15 0.0120 2.2000 36.35 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 House Preferred Leisure and Resort MWIDE PREF 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

34.8 528 511 107.1 104.5 111 110.3 523 5.75 1010 1020 102 1.05 106.1 1140 1002 103 112 76.6 80.9 76.5 76.55 78.55 77 78.6 77.5 2.1

LR Warrant

2.500

Makati Fin. Corp. Italpinas Philab Holdings Xurpas

2.8 11.2 3.62 5.07

First Metro ETF

133

USD DMPL A1 USD DMPL A2

10.1 10.1

DECEMBER 27-29, 2017 Close Volume Value

Value

18,674,000 1,100 1,766,400 10,918,100 3,674,000 971,000 41,745,200 5,563,000 26,100 275,000 3,617,700

11,409,210.00 36,510.00 9,831,841.00 233,889,235.00 7,648,720.00 3,110,020.00 1,633,274,410.00 5,626,340.00 238,815.00 232,420.00 21,703,483.00 SERVICES 483,600 9,621,705.00 118,600 4,169,815.00 455,000 632,780.00 6,670,000 3,075,400.00 81,500,000 3,395,400.00 7,200 85,380.00 414,100 2,522,940.00 39,375,300 449,319,804.00 13,020,000 921,770.00 573,050 57,279,955.50 600 5,313.00 3,472,900 30,014,846.00 356,000 847,760.00 11,500 77,504.00 291,300 4,802,794.00 160 155,200.00 89,190 164,084,405.00 605,000 3,564,216.00 568,800 12,393,330.00 4,200 49,586.00 11,217,000 52,349,330.00 4,338,040 469,625,194.00 59,000 157,180.00 87,900 1,203,608.00 413,400 3,438,095.00 6,180,000 867,110.00 726,000 999,150.00 81,000 251,470.00 20,100 319,958.00 7,731,000 29,791,330.00 395,000 463,040.00 8,163,000 187,355,355.00 181,000 3,730,906.00 68,000 37,680.00 9,058,100 44,804,189.00 42,118,100 331,333,278.00 1,938,000 7,475,400.00 69,643,000 208,881,490.00 1,500 16,650.00 312,000 871,740.00 534,200 4,303,370.00 25,640 2,925,307.00 3,411,100 25,772,450.00 533,635 784,314,040.00 1,480,000 526,450.00 13,719,000 17,854,580.00 8,493,820 420,037,945.50 3,097,990 294,715,317.00 516,700 2,978,897.00 2,027,000 6,454,870.00 16,055,000 24,986,880.00 2,604,000 7,012,130.00 2,310,000 9,321,600.00 11,535,000 11,414,370.00 16,764,700 139,924,134.00 MINING & OIL 389,000,000 871,800.00 10,840,000 17,061,040.00 4,589,000 7,143,300.00 396,400 1,976,244.00 6,600 91,308.00 9,000 15,750.00 46,000 80,460.00 2,435,000 3,913,410.00 9,100,000 3,052,300.00 1,700 12,237.00 7,027,000 18,865,560.00 2,665,000 731,050.00 23,230,000 3,558,350.00 9,710,000 1,523,530.00 135,000,000 1,269,500.00 11,100,000 110,390.00 2,140,000 14,705,520.00 8,149,300 53,639,366.00 356,000 506,780.00 70,000 31,300.00 321,000 298,910.00 46,500,000 590,100.00 149,700,000 1,799,200.00 9,175,200 58,428,188.00 5,006,100 40,931,069.00 76,300,000 909,200.00 61,000 135,260.00 2,840,700 103,633,530.00 45,000,000 334,800.00 PREFERRED 94,000 3,289,050.00 90 47,520.00 2,600 1,347,540.00 71,150 7,632,705.00 61,320 6,402,221.00 680 74,990.00 780 86,034.00 2,200 1,150,600.00 13,335,500 73,410,652.00 40,040 40,440,440.00 1,000 1,029,650.00 2,120 215,590.00 235,000 244,710.00 10,000 1,062,064.00 25 28,300.00 14,085 14,124,030.00 3,000 309,000.00 100 11,200.00 49,940 3,820,527.50 44,850 3,592,973.00 23,090 1,754,885.00 7,020 2,341,153.00 22,090 1,797,895.50 15,380 1,191,760.00 14,550 126,645.00 61,140 4,774,894.00 11,000 23,100.00 WARRANT 856,000 2,091,350.00 SME 44,000 123,600.00 11,514,300 131,282,719.00 160,000 574,590.00 16,963,000 89,407,065.00 EXCHANGE TRADED FUNDS 62,930 8,315,008.00 DOLLAR DENONIMATED SEC. 22,000 224,610.00 92,520 41,756,768.40

0.620 34.00 5.72 21.30 2.12 3.13 37.50 1.01 8.81 0.850 5.990

18,271,000 4,400 7,486,700 3,702,200 4,944,000 1,100,000 22,080,600 461,000 35,200 175,000 9,028,100

11,301,950.00 167,195.00 43,441,103.00 79,609,395.00 10,349,030.00 3,445,970.00 829,419,670.00 466,310.00 305,995.00 147,570.00 54,189,308.00

18.48 34.6 1.39 0.480 0.042 11.82 4.87 10.90 0.0710 100 8.64 8.78 2.49 7.01 18.50

459,200 265,300 395,000 1,170,000 46,200,000 28,000 8,400 7,348,400 56,450,000 1,748,610 16,100 3,728,600 413,000 57,800 1,495,300

8,770,546.00 9,207,770.00 565,610.00 546,400.00 1,929,600.00 325,968.00 40,972.00 80,301,940.00 3,967,970.00 174,161,081.00 139,327.00 32,976,383.00 1,019,640.00 395,706.00 26,024,656.00

1900 5.84 22.00 12.00 4.49 105.5 2.64 13 8.35 0.141 1.4000 3.07 17 4.04 1.21 22.85 16.50 0.570 5 7.43 3.90 2.820 11.1 2.81 8.99 114.40 7.64 1480.00 0.365 1.350 50.00 96.20 5.60 3.30 1.630 2.7 3.98 0.980 8.280

98,875 505,600 748,700 16,800 19,666,000 1,587,760 54,000 55,600 509,200 11,620,000 3,156,000 242,000 83,300 1,425,004 365,000 4,399,900 6,000 358,000 18,896,000 15,793,700 2,695,000 14,237,000 307,500 149,000 85,300 74,430 2,808,000 286,855 1,030,000 4,225,000 2,925,000 1,295,260 476,500 2,564,000 30,259,000 14,243,000 5,131,000 8,928,000 10,628,600

182,118,140.00 2,929,822.00 16,345,570.00 208,992.00 84,551,210.00 168,210,077.00 149,610.00 717,984.00 4,249,866.00 1,644,190.00 4,365,710.00 745,230.00 1,334,426.00 7,103,840.00 433,500.00 99,356,915.00 97,590.00 197,820.00 88,897,580.00 117,902,106.00 10,361,880.00 39,738,630.00 3,413,250.00 421,600.00 750,167.00 8,535,587.00 21,184,023.00 427,094,915.00 361,300.00 5,663,290.00 147,130,548.50 123,581,402.50 2,626,280.00 8,273,300.00 49,457,380.00 39,271,590.00 20,484,120.00 8,809,300.00 87,368,859.00

0.0022 1.55

2,387,000,000 20,497,000

5,397,500.00 31,915,600.00

5.00 15.00 1.7300 1.7500 1.63 0.310 7.10 2.630 0.210 0.151 0.153 0.009 0.0100 1.78 6.33 1.51 0.4500 0.9500 0.0120 0.0120 6.06 7.96 0.0120 2.0200 36.80 0.0067

1,965,000 4,400 46,000 27,000 3,958,000 790,000 27,400 12,243,000 3,360,000 14,280,000 5,270,000 289,000,000 1,129,700,000 873,000 3,570,300 950,000 80,000 2,030,000 2,300,000 800,000 2,008,400 5,536,000 18,700,000 5,000 10,162,600 2,000,000

9,697,370.00 59,636.00 79,680.00 47,180.00 6,251,130.00 252,550.00 198,128.00 32,033,300.00 703,330.00 2,154,660.00 806,310.00 2,626,500.00 10,619,240.00 1,479,600.00 22,647,625.00 1,345,920.00 35,450.00 1,883,030.00 27,600.00 9,700.00 11,719,565.00 44,259,883.00 207,500.00 10,050.00 376,255,915.00 13,400.00

34.5 528 526 108 106.7 115 117 523 5.68 1030 1028 100.2 1.04 109.4 1140 1000 103.7 109 76.5 80 75.65

1,370,500 20,000 12,050 22,370 10,440 70 15,000 100 22,600 4,520 1,285 11,940 2,270,000 290 5 150 350 7,590 28,620 70,790 21,500

47,258,440.00 10,560,000.00 6,361,470.00 2,415,960.00 1,106,631.00 7,959.00 1,673,995.00 52,300.00 128,314.00 4,639,130.00 1,321,085.00 1,211,745.00 2,361,000.00 31,744.00 5,700.00 150,200.00 36,295.00 826,192.00 2,183,555.00 5,678,750.00 1,625,275.00

81.95

290

23,765.50

79.5 79.8 2.12

103,380 93,610 113,000

8,169,230.00 7,454,835.50 237,640.00

2.470

1,084,000

2,638,590.00

2.85 10.2 3.74 5.57

51,000 36,543,400 226,000 11,430,000

146,410.00 436,936,177.00 861,180.00 63,662,407.00

130.5

95,270

12,365,210.00

10.1 10.2

11,330 19,960

114,832.00 203,592.00

WEEKLY MOST TRADED STOCKS Abra Mining MRC Allied Ind. Oriental Pet. `B’ Manila Mining À’ Megaworld Apollo Global Metro Pacific Inv. Corp. Philodrill Corp. À’ NOW Corp. Oriental Pet. À’

VOLUME 389,000,000 151,120,000 149,700,000 135,000,000 91,293,700 81,500,000 76,633,400 76,300,000 69,643,000 46,500,000

STOCKS SM Investments Inc. Banco de Oro Unibank Inc. Security Bank SM Prime Holdings Ayala Corp `A’ Ayala Land `B’ Metrobank Universal Robina GT Capital PLDT Common

VALUE 2,399,685,440.00 1,917,280,697.00 1,836,427,394.00 1,633,274,410.00 1,516,122,745.00 1,382,576,055.00 1,375,593,565.00 1,010,083,641.00 859,038,910.00 784,314,040.00

Corp., which increased 8.5 percent to P163.90, JG Summit Holdings Inc., which rose 8.1 percent to P77.95, and San Miguel Corp., which advanced 7.5 percent to P120. Weekly top price losers, meanwhile, were First Gen Corp., which declined 5.2 percent to P16.12, Globe Telecom Inc. which dropped by 5 percent to P1,805 and Golden Haven Inc. which dipped 4.56 percent to P21. Wall Street stocks, meanwhile, powered higher Friday with the Dow surging further above 25,000 points as bullish investors shrugged off a disappointing US jobs report. The Dow Jones Industrial Average ﬁnished up 0.9 percent at 25,295.87, its third straight record and the second close above the 25,000 landmark. The broad-based S&P 500 gained 0.7 percent to end at 2,743.15 and the tech-rich Nasdaq Composite Index advanced 0.8 percent to 7,136.56, both setting new closing records for the fourth straight day. The US added just 148,000 jobs in December, the Labor Department reported, far below expectations, although unemployment held steady at its 17-year low of 4.1 percent.

PSE plans rights offer worth up to P3.16b THE Philippine Stock Exchange plans to raise as much as P3.16 billion through a stock rights offering in February. The bourse, according to a filing with the Securities and Exchange Commission, will offer a maximum of 11.5 million common shares to eligible shareholders at a price of up to P275 apiece. The exchange plans to use the net proceeds from the rights offering to pay corporate debt, and finance product development and capital expenditures, The PSE tentatively set the offering period on Feb. 5 to 9 and the listing date on Feb 23. The planned rights offering is expected to reduce the brokers’ ownership in the local bourse to less than 20 percent as required under the Securities Regulation Code. PSE president Ramon Monzon earlier said the local bourse obtained pre-emptive rights that would exclude brokers as well as existing institutional investors from the rights offering. The bourse earlier hired BDO Capital and Investments Corp. and First Metro Investments Corp. the underwriters of the offering. It also invited Shenzhen Stock Exchange to become a minority investor by buying shares in the rights offering. The reduced brokers’s stake in PSE was required by SEC as a condition to the bourse’s acquisition of the nation’s bond exchange. The PSE plans to acquire a majority stake in Philippine Dealing System and Holdings Inc., which serves as the holding company of fixed-income trading platform Philippine Dealing and Exchange Corp., Philippine Depositary and Trust Corp. and Philippine Securities Settlement Corp. The Philippine Competition Commission, country’s antitrust body mandated to review mergers and acquisitions, last month allowed the PSE proceed with the purchase of a controlling interest in PDS Holdings. Jenniffer B. Austria

Business/World MY POST-YULETIDE REVELRY REVERIE “’TIS the season to be jolly,” Christmas time is, and it goes without saying that the Yuletide season is a great time for merrymaking. The days leading up to Christmas Day, and the days in between Christmas Day and New Year’s Eve, are ﬁlled with occasions of celebration, reunion, and, undoubtedly, libation.

I have had more than my fair share of holiday fare, so to speak. Deck the halls, oh yes, indeed, as invitations came. It was hard to say no so had to keep up as much as possible. No sense in being a Scrooge at Christmas time, right? I, too, would want to spread the Yuletide cheer as much as possible. Within the MVP Group there were numerous company, division, and department parties. PLDT alone would already fill up your Christmas calendar. But first off, we had the annual MVP Group Media Get-together, organized by the Melody del Rosario, Metro Pacific Investment Corporation’s President Mayor Joseph Ejercito Estrada and wife Dr. Loi Ejercito during able Vice-President for Corporate Communications and Public RelaChristmas and wedding anniversary tions. Last year’s get-together was celebration held at the Bayleaf Hotel in historic Intramuros. Our small way of showing our appreciation to our friends in media. There was also the annual Christmastime in Cypress slash birthday celebration of Atty. Avelino Cruz a former colleague at the ACCRA Law Offices. Ave who is an accomplished pianist and composer would gather several luminaries in the musical scene to perform . Talents from the legal profession are also tapped . Perhaps it no longer comes as a surprise, but a number of my fellow members of the Bar can belt several good song numbers . In one Christ- During the annual Christmas time in Cypress with Archit mastime in Cy- Bartolome, Helen Cruz, Rosario Bartolome, Atty. Ave Cruz, press celebration Atty. Nilo Peña During the MAP Christmas Party. MAP President 2016 Perry Pe, MAP Governor Eduardo Yap, MAP President 2017 Marife Zamora

I sang a duet ( All I Ask of You from the Phantom of the Opera ) with no less than world-renowned soprano Rachelle Gerodias. An experience I shall forever cherish. This time, I rendered a solo of an old favorite Christmas tune. We also had the joint Christmas and wedding anniversary celebration of President Mayor Joseph Ejercito Estrada and Senator Dr. Loi Ejercito, PSE Chair Titoy and Marilyn Pardo. Present, as always, were my former colleagues, members of President Erap’s Cabinet. As always the Management Association of the Phils ( MAP) party was filled with During the MAp Christmas party. fun and camaraderie. Atty Ebot Tan and Peng Perez de Tagle made sure of it. The theme was “ Casino Royale”. That Bond flick brought out the 007 fantasies of the members . I had the distinct pleasure of singing with the glass onion band, led by top businessman Tonyboy Cojuangco ( plays the guitar ) and backed up by former Presidential Management Staff Head Lenny De Jesus . Other Yuletide gatherings include the Philippines – Qatar Marhaba Night, the post-ASEAN Summit Appreciation Lunch at the MIASCOR In-Flight Catering Facility in honor of Executive Secretary Salvador Medialdea, and the Japan National Day Reception hosted by my good friend, His Excellency Koji Haneda, Ambassador of Japan to the Philippines. We had the Christmas celebration of the Philex Group, comprising of Philex Mining Corporation, Silangan Mindanao Mining Company Inc., PXP Energy Inc. and Philex Group Foundation Inc. It was a fun-filled night for all and I was really amazed at the sheer amount of talent that the Philex Group employees had. Amidst the headiWith Philex Public and Regulatory Affairs team ness of revelry, though, there is always time to pause and reflect on the year that has passed and the year that lies ahead – behind the pomp, pageantry, and pyrotechnics of Yuletide celebrations there is the true meaning of Christmas: the birth of our Lord and Savior Jesus Christ and the love and hope and charity that He brings. It is on this note that I, too, take pause, to welcome you all to a more meaningful and prosperous New Year 2018. May this year hold much hope and promise to all. Cheers! MVP Group Media Bureau

MONDAY, JANUARY 8, 2018 extrastory2000@gmail.com

Airport meltdown freezes US, Canada

EW YORK―The eastern United States and Canada froze Saturday under record-breaking low temperatures following a deadly winter storm as New York’s flagship airport descended into chaos, battling to contain flight backlog. In Canada, temperatures approaching minus 50 degrees Celsius (minus 58 degrees Fahrenheit) were forecast in northern Ontario and Quebec. Arctic blasts and dangerously cold wind chills could make it feel as low as minus 45 Fahrenheit across the eastern United States, with the risk of frostbite to exposed skin within 10 minutes, officials warned. The deep freeze follows a storm, dubbed a “bomb cyclone” by forecasters, which has been blamed for at least 19 deaths in the United States, from Texas to Wisconsin, US media reported. Thursday’s storm raked the East Coast with heavy snowfall, glacial temperatures and high winds, forcing the cancellation of flights. But on Saturday, more than 3,420 flights within, into or out of the United States were still delayed, with New York’s John F. Kennedy airport and South Carolina’s Charleston among the most affected. The Port Authority, which runs New York-area airports, announced that flights were being limited into JFK, “including all flights scheduled to arrive into Terminal 1 for the rest of the evening.” It said a surge in flights rescheduled after the storm, com-

RAYMUND B. HABARADAS

GREEN LIGHT BEING a business leader in the 21st century is tough. This is because businesses now operate in an increasingly complex and dynamic world. For business executives and managers, this situation increases the risks involved in making both strategic and operational decisions. According to the Developing the Global Leaders of Tomorrow Report, an output of a project led by Ashridge Business School, there are a host of emerging issues and trends that businesses face. Based on a survey undertaken among business executives and thought leaders, the following trends are expected to have the greatest impact—whether as opportunities or risks—on their organizations: (a) increasing legislation and regulation, (b) increasing demand for and scarcity of limited resources (e.g. energy, water, minerals, food), (c) changing consumer preferences in relation to social and environmental performance of products/services, (d) shifts in centers of economic activity with the emergence of China, India, Brazil and others in the global marketplace (d) increasing scrutiny of business behavior and demand for transparency and accountability (e) growing numbers of more wealthy consumers in emerging economies and (f) implications of mitigating and adapting to climate change. To effectively manage the opportunities and threats associated with these social and environmental trends, organizations will require substantial change in the way they build new knowledge, skills, and ways of thinking among senior executives, managers, and employees. There is also a need to embed the consideration of the above-mentioned trends into the company’s strategic decision making (e.g. making investments, entering or exiting from markets, and innovating to offer new products, services and processes). It is also critical for business organizations to communicate with and engage key external stakeholders, whether in the form of new alliances and partnerships or of multi-stakeholders initiatives to develop joint responses to societal issues. Some of the survey respondents also highlighted the need to stimulate change in organizational culture. For these organizational responses to succeed, businesses must have the suitable talent that will help them navigate uncharted waters. Context, complexity and connectedness So what are the knowledge and skills expected of tomorrow’s business leaders? According to the Ashridge study, which was undertaken as part of the European Academy of Business in Society (EABIS) Corporate Knowledge and Learning Programme, these competencies can be grouped into three clusters, namely ‘context,’ ‘com-

bined with severe storm damage to equipment, resulted in delays in getting planes and passengers to gates. Tracking site Flightradar24 said at least 12 international ﬂights had been waiting, around two to four hours, for a gate to deplane. Passengers complained of be-

Golden Globes opening LOS ANGELES―Hollywood’s elite head for the red carpet Sunday for the Golden Globes, the glitzy launch of the entertainment industry’s awards season, with sexual harassment scandals casting a long shadow over celebrations. Billed as the most raucous event in the showbiz calendar, the champagne-drenched Hollywood Foreign Press Association’s annual prize-giving is a draw for filmmakers and actors looking to create some buzz ahead of March’s Academy Awards. But this year’s ceremony, seen as the first big opportunity for the industry to unite against a pervasive culture of sexual misconduct brought to light by the downfall of disgraced Hollywood mogul Harvey Weinstein, may strike a more somber tone. “The deluge of sexual misconduct revelations has been the story of the year, so it’s safe to predict that it will be the story of the night at the Golden Globes,” Debra Birnbaum, executive editor for television at industry weekly Variety, told AFP. “It will influence everything from Seth Meyers’ monologue to impassioned acceptance speeches to the fashion.” The ceremony at the Beverly Hilton―the first for late night NBC funnyman Meyers as host―is not as reliable at predicting Oscars glory as the galas held by Hollywood’s acting, producing and directing unions. But it remains one of the most high-profile and glamorous events of the awards calendar and tends to generate more headlines for tipsy tributes, daring gowns and wacky tuxedos. AFP

ing stranded on the tarmac for hours and then facing lengthy delays in baggage claim that made traveling, particularly with babies or the elderly, a misery. “Losing patience,” tweeted passenger James Allen, who said he traveled on Virgin Atlantic and had to wait three hours on the tarmac before reaching the gate, then two hours in baggage claim. “Two small children hungry, thirsty and tired with no facilities or help in baggage reclaim. Very poor,” he tweeted. Multiple trans-Atlantic flights simply gave up and went home, including an Aeroflot flight from Moscow that turned back over Iceland. AFP

ONSTAGE.

Lili Reinhart attends The Art of Elysium’s 11th Annual Celebration with John Legend at Barker Hangar on January 6, 2018 in Santa Monica, California. AFP

Are our business leaders ready for a complex and constantly changing world? plexity’ and ‘connectedness’. First, business leaders must understand the changing business context and recognize the opportunities and risks of emerging social, cultural, political, and environmental trends. Second, business leaders must develop knowledge and skills that will allow them to lead in a complex and ambiguous world. Third, business leaders must have the ability to understand the actors in the wider political landscape, to engage these actors, and to build effective relationships with various external stakeholders, including regulators, competitors, civil society, and local communities. For ‘context,’ knowledge and skills that survey respondents thought to be most important are: (a) understanding the risks and opportunities of environmental and social trends for your organization and your industry; (b) ability to align social and environmental objectives with financial goals; (c) ability to articulate the business rationale for pursuing social and environmental objectives; and (d) ability to factor into strategic decision-making broad social and environmental trends that transcend competitive issues within your industry sector. Some also mentioned the ability to use scenario building and horizon scanning tools, the ability to use risk management tools and understanding corporate governance frameworks. For ‘complexity,’ knowledge and skills deemed most important are: (a) ability to make decisions and manage when faced with considerable complexity and ambiguity; (b) ability to find creative, innovative and original ways of solving problems; (c) ability to be flexible and responsive in the face of change; and (d) ability to learn from mistakes. Some also mentioned the ability to balance shorter- and longer-term considerations, the ability to understand the interdependency of actions and the knock-on implications of decisions, and understanding the ethical basis upon which business decisions are being made. For ‘connectedness,’ knowledge and skills deemed most important are: (a) ability to build effective partnerships with internal and external stakeholders; (b) ability to engage in effective dialogue with a wide variety of organizational stakeholders, including people with different perspectives and paradigms; (c) ability to identify key stakeholders that have an influence on business success or are impacted by business activities; and (d) understanding the impacts of core business activities, both positive and negative, on the wide range of stakeholders that interact with or are affected by one’s organization. Some also mentioned the ability to translate learning from relationships with external stakeholders into situations within one’s

organization, the ability to engage in and contribute to public policy, and understanding the business value of diversity in enabling the organization to have the capacity to understand, anticipate, and effectively respond to change. At the DLSU Ramon V. del Rosario College of Business, whose mission is to develop future Filipino business leaders, we are aware of these trends and have begun to contemplate about these developments in our attempt to make our business programs relevant to our students. In a subsequent column, I will talk about innovative approaches we have undertaken to create value for the leaders of tomorrow... today. Manila

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Raymund B. Habaradas is an Associate Professor at the Management and Organization Department of the Ramon V. Del Rosario College of Business of De La Salle University (DLSU), where he teaches Management of Organizations, Ethics and Corporate Social Responsibility, and Management Action Research. He is also the Director of the DLSU Center for Business Research and Development. He welcomes comments at rbhabaradas@yahoo.com. The views expressed above are the author’s and do not necessarily reﬂect the ofﬁcial position of DLSU, its faculty, and its administrators.

Republic of the Philippines Department of Health

TODAY

SPECIAL CENTRAL OFFICE BIDS AND AWARDS COMMITTEE INVITATION TO BID PROCUREMENT OF VARIOUS GOODS

The Department of Health (DOH), through the General Appropriations Act CY 2018 intends to apply the amount of Two Hundred Eighteen Million Three Hundred Thousand Philippine Pesos (PhP218,300,000.00) for the project listed below. Bids received in excess of each ABC shall be automatically rejected at bid opening: IB No.

Name of Contract

ABC (PHP)

Cost of Bidding Documents (Php)

IB No. 2018-009

Procurement of CartridgeBased Nucleic Acid Amplification Test

198,750,000.00

50,000.00

IB No. 2018-010

Procurement of Hygiene Kits

19,550,000.00

25,000.00

TOTAL

Single Largest Completed Contract At least Twenty Five Percent (25%) of the ABC within the specified period in the Section III. Bid Data Sheet

218,300,000.00

The DOH now invites Bids from eligible Bidders for the procurement of the above-caption projects. Delivery of the Goods as specified in Section VI. Schedule of Requirements. Bidders should have completed, within the specified years from the date of submission and receipt of bids a contracts similar to each of the above-cited procurement projects stated in the Bidding Documents. The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II. Instructions to Bidders.

Bidding will be conducted through open competitive bidding procedures using a non-discretionary “pass/ fail” criterion as specified in the Implementing Rules and Regulations (IRR) of Republic Act (RA) 9184, otherwise known as the “Government Procurement Reform Act”. Bidding is restricted to Filipino citizens/sole proprietorships, partnerships, or organizations with at least sixty percent (60%) interest or outstanding capital stock belonging to citizens of the Philippines, and to citizens or organizations of a country the laws or regulations of which grant similar rights or privileges to Filipino citizens, pursuant to RA 5183 and subject to Commonwealth Act 138.

Interested bidders may obtain further information from the COBAC Secretariat, G/F, Bldg. 6, Department of Health, San Lazaro Compound, Sta. Cruz, Manila and inspect the Bidding Documents at 8:00 AM to 5:00 PM, Monday to Friday.

A complete set of Bidding Documents for each procurement package listed above may be acquired by interested bidders on 08 January to 30 January 2018 from the address above and upon payment of a nonrefundable fee for the Bidding Documents, pursuant to the latest Guidelines issued by the GPPB Resolution No. 04-2012, dated 24 February 2012, in the amount specified above. It may also be downloaded free of charge from the website of the Philippine Government Electronic Procurement System (PhilGEPS) and the website of the Procuring Entity, provided that Bidders who are interested to participate shall pay the applicable fee for the Bidding Documents not later than the submission of their bids.

Bidding Documents Fee may be refunded in accordance with the aforementioned Guidelines based on the grounds provided for under Section 41 of 2016 Revised IRR of RA 9184.

The DOH will hold a Pre-Bid Conference and the Submission and Opening of Bids at the COBAC Conference Room, G/F, Building 6, Department of Health, San Lazaro Compound, Rizal Avenue, Sta. Cruz, Manila, which shall be opened to all interested parties on the schedule given below:

IB No.

Name of Contract

IB No. 2018-009

Procurement of CartridgeBased Nucleic Acid Amplification Test

IB No. 2018-010

Procurement of Hygiene Kits

Activity (Date & Time) Pre-bidding Submission and Conference Opening of Bids 16 January 2018; 10:00 AM

30 January 2018; 09:00 AM

Bids must Bids must be delivered to the address stated below. All Bids must be accompanied by a bid security in any of the acceptable forms and in the amount stated below: Amount of Bid Security (Not less than the required percentage of the ABC)

Form of Bid Security (a)

Cash, Cashier’s/manager’s check issued by a Universal or Commercial Bank.

(b)

Bank draft/guarantee or irrevocable letter of credit issued by a Universal or Commercial Bank: Provided, however, that it shall be confirmed or authenticated by a Universal or Commercial Bank, if issued by a foreign bank.

(c)

Surety bond callable upon demand issued by a surety or insurance company duly certified by the Insurance Commission as authorized to issue such security.

(d)

Bid Securing Declaration

Two percent (2%)

Five percent (5%) No percentage required

Bids will be opened in the presence of the Bidders’ representatives who choose to attend at the address below. Late bids shall not be accepted. 8.

The DOH reserves the right to accept or reject any and all bids, declare a failure of bidding, or not award the contract at any time prior to contract award in accordance with Section 41 of RA 9184 and its IRR, without thereby incurring any liability to the affected bidder or bidders.

For further information, please refer to: COBAC-C Secretariat Department of Health San Lazaro Compound Sta. Cruz, Manila Tel. Nos. 651-7800 local 1625 to 1627; 1650 to 52 Facsimile No.: 741-9775; 740-6830 (SGD.) MARIA FRANCIA M. LAXAMANA, MD, MHSA, CHS Assistant Secretary of Health COBAC - C Chairperson

(MS-JAN. 8, 2018)

100 homes for 100 ‘Yolanda’families built in Iloilo town

Jimbo Owen Gulle, Editor lgu@manilastandard.net editor.lgustandard@gmail.com

monday, january 8, 2018

LGUs LocaL government units

CHAIRS FOR ELDERLY. The Metro Manila Mayors Spouses Foundation, Inc., a non-stock organization dedicated in protecting and improving the lives of women and children in the metropolis, recently distributed Christmas gifts to Golden Reception and Center for the Elderly and other Special Cases (GRACES) in Sto. Cristo, Bago Bantay, Quezon City. Headed by Janet Olivarez (standing second from left), wife of Paranaque City Mayor Edwin Olivarez, the foundation has lined-up various charity projects in 2018 for unemployed housewives, abandoned children, breast cancer patients, blood typing project, and other fundraising activities.

Avoid idle land tax, Munti folk reminded IT’S not a good time to be idle, the city government of Muntinlupa said, as it advised property owners in the city that if more than 50 percent of their lands are unutilized, they may be taxed with an additional levy. Mayor Jaime Fresnedi urged residents and developers with idle lands to continuously develop their properties to its highest and best use to avoid the idle land tax. The city government recently amended its Revenue Code and has begun imposing an ad valorem tax on real properties through Ordinance 17-123. Muntinlupa Assessor’s Office chief Vincent Misa said the additional tax on idle lands will be at 0.5 percent of the assessed value on residential lots and 2 percent on commercial or industrial properties. Misa said that the initiative will translate to additional revenues for the local government to sustain its delivery of basic services. Lands shall be considered unutilized if more than 50 percent of its area is not used in accordance with its permitted or authorized use, that which is “physically and financially viable and more productive use.” Further, properties with structures or other kinds of construction evaluated as less than 50 percent of the assessed value of the land shall also be considered as unimproved and idle. MAO has deployed a Special Team to conduct inspections and tax campaign among the barangays, Misa added. Notice of assessments were already given to landowners with evaluated idle lands through the office’s system and remote examinations.

Cavite enforces ‘coding’

RECE MARTIRES CITY—Cavite Governor Jesus Crispin ‘Boying’ Remulla has announced that the vehicle number coding scheme in the province will be fully implemented this month. The traffic scheme’s implementing rules and regulations has been approved by the provincial board led by Vice Governor Ramon “Jolo” Revilla III. The provincial ordinance was authored by 1st District Board Member Gilbert Gandia, chair of committee on transportation and

communications. Provincial Ordinance 164 or the Number Coding Unified Vehicular Reduction System of Cavite Province aims to rid or solve traffic on major roads of the province. Roads covered by the scheme are Aguinaldo Highway (from Zapote

BAYOMBONG, Nueva Vizcaya—The Bureau of Fire Prevention here has increased its collection for the fourth quarter last year compared to the same period in 2016. In a report during the recent Provincial Peace and Order Council and Provincial Anti-Drug Abuse Council at the FTM Restaurant here, Apolonio Diaz, provincial fire marshal, said the agency collected more than P400,000

to the Dasmarinas-Silang boundary), Governor’s Drive (from Carmona to Trece Martires City-Tanza boundary), and Molino Boulevard (from Talaba, Bacoor to Paliparan Road, Dasmarinas City). Under the revised IRR, vehicles covered by the travel ban are the private cars, vans and trucks, except those with PEZA (Philippine Economic Zone Authority) registration and stickers. Motorcycles are not included under the scheme.

Vehicles are banned on certain days based on the last digit of their conduction stickers or license plates -- 1 and 2 on Monday, 3 and 4 on Tuesday, 5 and 6 on Wednesday, 7 and 8 on Thursday, 9 and 0 on Friday. The window hours are set from 10:01 a.m. to 2:59 p.m. Meanwhile, in Imus City, the city treasury office here will be open from 9 a.m. to 4 p.m. on all Saturdays and Sundays this month to process realty and business tax payments.

Tax payers may pay their dues during the weekends of Jan. 6-7, 1314, 20-21 and 27-28. Imus Mayor Emmanuel Maliksi said the weekend schedules are for the convenience of the taxpayers. The extra days, Maliksi said, will also help encourage his constituents pay their taxes before the deadline and prevent them from incurring penalties due to late payment. To avoid paying interest, he reminded business owners and administrators to pay their business taxes,

business permits and other regulatory fees for 2017 before Jan. 20 this year. Owners and/or administrators of land, building, and machinery properties are also reminded to pay their real property taxes before March 31, 2018. The city government provides incentives such as a 20-percent discount for real property taxes for calendar year 2018 that will be paid in full on or before Jan. 20, and a 10-percent discount if taxes are fully settled before March 31 this year. With PNA

Mt. Province reloads HIV-AIDS info drive By Dexter A. See

The people of Nabas, Ibajay and Batan in the province of Aklan celebrated the reopening of their health centers, which were recently rehabilitated by BDO Foundation as part of its corporate social responsibility.

Aklanons receive better health centers, services CLOSE to 100,000 Aklanons in three municipalities now have access to better health services, thanks to a corporate citizenship initiative of the country’s largest bank. BDO Foundation recently completed the rehabilitation of Nabas Rural Health Unit, Ibajay Rural Health Unit I and Birthing Center, and Batan Health Center, all in the province of Aklan, as part of efforts to improve the

delivery of primary and maternal healthcare services in the country, particularly in disaster-affected areas. Speaking on behalf of their respective communities, the local government leaders and municipal health officers of the three Aklan towns expressed their gratitude to the foundation for helping improve health services for residents of more than 50 barangays.

NV BFP ups fire code fee collection By Ben Moses Ebreo

LEMERY, Iloilo—Over 580 victims of Typhoon “Yolanda” (Haiyan) gained new homes over the weekend following the completion of the initial phase of the “Build a House, Build a Home, Restore a Community Project” run by the Greg Secker Foundation. Over two years, 100 typhoon-proof houses have been built for 100 families in the town of Lemery, along with full access to utilities and essential life-preserving services. As part of the project’s first phase, beneficiaries have also received educational lectures on a variety of topics including earthquake safety, health and safety, waste management, recycling, and basic medical training. In addition, there is now a free-ofcharge crèche (nursery) on-site to enable mothers and fathers to work in the village, and a Saturday school for children run by the Central Philippine University. To deliver on its aim to restore a community, the Foundation will soon begin the second phase of its project. To ensure the village’s sustainability, a range of further facilities and farming projects will be developed.

last year compared to just P179,000 in fire code fees in 2016. “This was attributed to the increasing number of compliance among stakeholders on the Fire Code law in our province,” he said. Diaz also said they have intensified their other fire prevention activities in the province which resulted in the conduct of 51 lecture and fire drills, organization of 51 kiddie/junior fire marshals, 126 Ugnayan sa Barangay and organization and training of 3 volunteer

fire brigades during the fourth quarter of 2017. The BFP, Diaz added, also conducted 623 fire safety inspections during the period, particularly on public assemblies, educational, health care, correctional, residential, mercantile, business, industrial, storage, mixed and other establishments. “Our fire safety inspections in the last quarter of 2017 was higher compared to the 524 activities conducted during the same period in 2016,” he said.

BDO Foundation, the corporate social responsibility arm of BDO Unibank, renovated the lobbies, waiting areas, offices, consultation and treatment rooms, laboratories, furniture and fixtures of the health centers. Dental clinics, TB DOTS clinics, labor and birthing rooms were improved significantly, while breastfeeding stations, play areas for children and waiting areas

for senior citizens were also built. These improvements are expected to help the health workers enhance their capacity to provide primary healthcare services more efficiently and effectively. Doctors, nurses and midwives are now better equipped to take care of patients, including mothers and babies, children, the elderly and persons with disability, health officials said.

BONTOC, Mountain Province—Five individuals were recorded as positive of human immunodeficiency virus-acquired immune deficiency syndrome (HIVAIDS) in the province based on the records of the Department of Health from 1984 to present. This was disclosed by Development Management Officer IV Claudio Pancho of the DOH Provincial Office, who also shared the ABC method to avoid and prevent the transmission of HIVAIDS and sexually transmitted diseases or sexually transmitted infections. ABC stands for “Abstinence,” “Being Faithful” or loyal to your partner and “Correct” and consistent use of condoms. Provincial Family Planning Coordinator and Nurse III Dolores B. Te-elan of the Provincial Health Office said that counselling and free HIV testing are being offered at the Rural Health Units in Bauko, Bontoc, Sagada, Tadian and Paracelis, and hospitals in Mountain Province such as the Luis Hora Memorial Regional

Hospital, Bontoc General Hospital and Paracelis District Hospital. Te-elan added that in partnership with the DOH Provincial Office, the provincial government is conducting massive information and education advocacy campaigns on prevention and awareness to combat HIV-AIDS and STIs. These are though radio guesting and information drives during flag raising ceremonies and provincial and municipal activities. While STIs are treatable, health authorities remarked that the public should be aware and informed of the preventive measures. STIs are infections that are passed from one person to person through sexual contact. Common STIs are gonorrhea, chlamydia, HIV, Hepatitis B/C, herpes, genital warts, syphilis, pubic lice and scabies, the DOH and PHO said. The common signs and symptoms are unusual vaginal discharge, unusual penile discharge, sores and ulcers, burning sensation when urinating, swelling of the scrotum, and redness or itchiness around the vaginal or pelvic area.

TAGAYTAY TREAT.

SPO4 Paquito Enriquez Chan Jr. (in green shirt) is amid about 1,000 indigent children of Tagaytay City and nearby towns, to whom he handed out Christmas gifts. Chan said it is a family tradition of his to celebrate New Year with his family at their home in Villa Mendez, Barangay Patutong Malaki South in Tagaytay, but this year, they opened their house to poor children from around the city. Chan, who is a champion shooter, is a member of the PNP Regional Mobile Force Calabarzon assigned in Cavite. Roy Tomandao

Life food

The boutique offers Nespresso’s Grand Crus collection and top-of-the-line coffee machines

Isah V. Red, Editor Bernadette Lunas, Writer isahred@gmail.com monday, januaRy 8, 2018

A brewed awakening N

eSPReSSO, the worldwide pioneer in premium coffee, continues to inspire coffee connoisseurs and curious coffee drinkers as it opens its first Nespresso Boutique in the country at Power Plant Mall.

Nespresso’s first Boutique in the Philippines opens at Power Plant Mall in Rockwell, Makati City

Patrick Pesengco, managing director of Novateur Coffee Concepts Inc., shares, “We are very happy and excited to finally be able to bring Nespresso to the Filipino consumers. There has been clamor for this for some time now from Nespresso lovers who previously only had access to it from their travels abroad. We are honored to represent and bring this highly regarded global brand to the Philippine market, as Nespresso speaks of premium quality and innovation.” Through the new contemporary boutique, which occupies an impressive 140sqm space, coffee lovers and shoppers can now indulge and explore the multi-sensory experience that Nespresso promises through its range. “The boutique will be our main customer touch point through which customers can experience and understand what Nespresso brings, which goes beyond coffee. It will be a testament to and a reflection of the brand’s commitment to excellence and quality,” says Melissa Valdez, Novateur Marketing head. From Nespresso’s prized Grand Crus collection to its top-of-the-line

coffee machines, delight in the fine art and full richness of the coffeedrinking experience. In addition to a contemporary and urban design showcased through the product galleries, Nespresso aims to create a warm and welcoming ambiance through its Tasting Bar. Here, coffee lovers can taste and try the different blends and recipes. “For some, coffee is an intimidating thing. Some think that you have to be an ‘expert’ to truly enjoy it, but I beg to disagree. There are so many coffee profiles and ways to enjoy coffee, and so there really is a cup for everyone,” shares Marjorie Sernande, Nespresso Philippines Boutique Manager Aside from tasting the different Nespresso coffees, customers can also learn about the different ways they can enjoy their coffee through the help of Nespresso Coffee Specialists. “Here, we just want you to come in, have a sip and enjoy a cup. Discover the perfect cup of coffee that’s truly meant for you,” ends Sernande The Nespresso Boutique is located at R1, Power Plant Mall, Rockwell Center, Makati City.

Cloudy Bay wines, perfect pairings IN 1985, Cloudy Bay captivated the wine world and put Marlborough in the international wine map with its aromatic and vibrant Sauvignon Blanc. Today, the iconic winery maintains its same innovative spirit, devotion to quality, and consistency that generated success in that first year. To share the Cloudy Bay tale, Moet Hennessy Philippines Inc. hosted three unique dining events and invited three renowned chefs – Chef Eric Weidmann of Sage Bespoke Grill, Shangri-La Makati, Chef Nicolas Cegretin of Mirèio, Raffles Hotel, and Chef Allan Briones, the first Filipino Chef of Old Manila, The Peninsula Manila – to create an elegant feast for discerning diners. Their menus, exclusive to Cloudy Bay, boast imaginative flavors and well-crafted dishes further elevated by the expert pairings with Cloudy Bay wines. The stars of these great degustations were Cloudy Bay’s Sauvignon Blanc 2016, Chardonnay 2014, and Pinot Noir 2014. Cloudy Bay Sauvignon Blanc 2016 is the perfect reflection that captures the essence of its pristine origins. It is a wine that speaks of its vineyards located in the heart of the Wairau Valley, between the Richmond Ranges to the west and the Wither Hills to the east, with its

spread that compliments the three Cloudy Bay wines. Scallops ceviche with watermelon pomelo and coriander was paired with Cloudy Bay Sauvignon Blanc 2016 to highlight the bright and light flavors of the dish. Next course was lobster bisque and lemongrass risotto with butter poached lobster trails and green asparagus paired with the Chardonnay 2014to go along with the bold ripe fruity flavor and smoky notes of the dish. The Cloudy Bay Pinot Noir 2014 then complemented the savory notes and richness of the roasted duck breast with foie gras and red Thai curry sauce. The day after, guests enjoyed wining and dining at Mirèio with the food prepared by Chef Cegretin paired with Cloudy Bay Wines. The dinner began with tapas - crispy puff pastry twists with goat cheese, basil and lobster gazpacho paired with Cloudy Bay Sauvignon Blanc 2016. Pan-seared foie gras with apple chutney and green curry sauce followed by Grilled Mahi-mahi with pumpkin texture and clam jus beurre blanc were both paired with Cloudy Bay Chardonnay 2014. Lastly, for the meat course, the Cloudy Bay Decadent dinings and pairings Pinot Noir 2014 was paired with PanIn the first dinner, Chef Weidmann seared duck breast with corn texture amazed the guests with a four-course and crispy fried duck leg confit that

unmistakable aromas, ripe fruit flavors and fine. The wine is framed by vibrant citrus fruit and ripe stone fruit flavors that come alive through a vibrant mix of tropical notes including kaffir lime and orange blossom. Cloudy Bay Chardonnay 2014 is an aromatic and complex amalgamation of flavors: cashew nut, preserved lemon and nectarine. There are subtle complexities of grapefruit and white floral notes that reveal themselves with time in the glass. The palate is further layered with a bold ripe fruit flavor and spicy, smoky oak characters. Cloudy Bay Pinot Noir 2014, according to winemaker Tim Heath, is one of the best and most exciting wines of the label. “The year 2014 is a season that has delivered our best Cloudy Bay Pinot Noir to date,” he says. The Pinot Noir wine is very aromatic, displaying a powerful bouquet of classic Pinot Noir characters- from the lighter spectrum of rose, violet and ripe berry fruit through to dark cherry with a hint of luscious plum. “Structurally, the wine is seamless,” he gushes.

From left: Cloudy Bay Chardonnay, Cloudy Bay Pinot Noir, and Cloudy Bay Sauvignon Blanc

Chef Allan Briones of Old Manila, The Peninsula Manila prepared meals for the last dinner of the wine pairing series featuring Cloudy Bay wines

interestingly compliments the very aromatic and silky character of the wine. For the last dinner of the series, Chef Briones, taking inspiration from the decadent undertones of Cloudy Bay Sauvignon Blanc 2016, crafted the Scallop Ceviche with mandarin, chili, radish, coriander, and elderflower vinaigrette. Accompanying the second course was Chardonnay 2014, bringing out the

complex flavors of the Lobster Ravioli. Lastly, Cloudy Bay Pinot Noir 2014 perfectly primed the palate for Vanilla Duck Breast. With their well-crafted menus, elevated palates and unique flavor philosophies, the three chefs successfully created amazing dining experiences that will certainly be remembered by the patrons.

Roasted duck breast with foie gras (top) and Lobster bisque and lemongrass risotto (bottom)

Life

monday, january 8, 2018 isahred@gmail.com

e FILIPInOS are obsessed with coffee. We take it at any given time of the day, enjoying it while ruminating about life on our own, or serving it to bring people together, letting the conversations flow freely with every sip. For local coffee expert and global coffee entrepreneur, Silvester Dan Sibal Samonte, coffee is pure romance and mystery. “Really good coffee is a love a story on its own. The romance starts with a hike up the mountains to taste the coffee fruit and understand the bio-dynamics in its growing. When matched with the perfect water and brewing dynamics, the freshly ground coffee turns into a tasty beverage with flavor bursting out of the aromas in your nose and taste in your mouth,” he said. Growing up in new York City, Silvester or “Sly,” first learned how to brew coffee for his mother whose work started very early in the day. When he left the Big Apple to work in Singapore, a trip to the tiny coffee shop of Papa Palheta for a grinder changed his understanding of the staple beverage and made brewing exceptional coffee his life’s mission ever since. Today, Silvester can be found in a hip coffee establishment in San Juan, La Union, delighting customers with handcrafted beverages including his very own coffee concoctions. A firm believer in the potential of Philippine coffee, Silvester also actively engages with Filipino farmers, helping them rise above the challenges of the local

Silvester Samonte

and the romance of coffee Coffee expert and entrepreneur Silvester Samonte talks about his passion for coffee

industry for better quality produce. With his long list of to-dos, what is really keeping Silvester busy nowadays is the World Barista Championship, a premier barista competition set to take place in South Korea this year. Together with his team, they are pushing the boundaries of coffee to bring flavors that will surely woo the judges. A perfect match for his on-the-go, dynamic lifestyle, Silvester has found a new favorite with the new neSCAFÉ Gold Collection. “When tasting different instant sweetened coffees as part of research and development, the neSCAFÉ Gold Collection flavors consistently came up top in blind tasting. When prepared correctly, it has a taste balance and aroma which can challenge freshly brewed coffees from fully automatic machines,” he shared. “Seeing foam rise out of an instant beverage is some amazing technology. The aroma coming from the top of the cup is rich and enticing. The taste balance of the coffee beverage rivals many cups I’ve had from fully automatic coffee machines. For a hot, sweetened coffee beverage, these qualities are truly the difference to appreciate,” Silvester added. Offering the signature smooth tastes and enticing aromas skillfully fashioned by neSCAFÉ’s coffee masters, the neSCAFÉ Gold Collection introduces itself as the new icon of premium quality coffee. Indulge in a deluxe blend of the finest, handpicked Arabica and Robusta coffee beans, perfectly roasted, finely ground, combined with exquisite milk, and layered with a rich, velvety café froth. Choose from three delicious flavors and discover which one satisfies your taste: Latte Macchiato, Cappuccino, and White espresso. now available for your drinking pleasure in supermarkets, large groceries, and select convenience stores.

Meet Tsuta, ramen with a star

Create a decadent chocolate molten lava cake in a Midea microwave oven

Easy meals, baked goodies, and more

When people think of microwave ovens, it is most often that they think about it as a way to reheat their meals. While it does very well in reheating food, only a few would dare to cook their food in a microwave oven. Most of them are afraid that they may put in the wrong setting and as a result, have burned food instead. A better understanding of the microwave settings would definitely take off the fear that bothers most people in cooking with a microwave oven and gain more confidence in cooking quick and easy meals. Midea, one of the world’s largest manufacturers of home appliances, understands such challenges for those relying on the wonders of a microwave oven and those who are living a fast-paced lifestyle. Midea is all about surprising their customers with home solutions that are very easy to use and give them the confidence in using these products in their everyday life. With all the quick settings at a push of a button, cooking meals in a microwave oven has been made very easy— from their favorite bacon and eggs breakfast and a hearty mac n’ cheese meal. not most people know though, that they could also bake with a microwave oven, and Midea has one simple baking recipe that everyone can do. With the help of Midea’s Microwave Oven, people can now enjoy a chocolatey molten lava cake in just minutes, from preparation to cooking. All they have to do is to prepare the ingredients – Cake Base, 60g All Purpose Flour, 45g White Sugar, 45g Cocoa Powder, 1 pc egg, 45ml Milk, 30ml Canola Oil, 15ml Melted Butter, 3 pieces of 20g Milk Chocolate balls, pinch of salt, and a 1.5L Vanilla Tub Ice Cream – and follow these instructions: (1) Sift the flour, salt, and cocoa powder, then mix it all together. (2) Separate the yolk from egg whites, then whip the egg whites to peak and cream the yolk with sugar. (3) Combine milk, oil, and butter into the egg whites, then slowly add the flour mix into the bowl, after which, fold the egg yolks within the mix until every in-

gredient is incorporated. Ceramic mugs, or alternatively, silicone molds can be used, (4) just make sure that it is lined with butter before filling it in with the mix. (5) Fill half of the mold then put in a chocolate ball in the center, before filling it up again with the mix. (6) Make sure to gently tap the mold to let the mix set properly in the mold. (7) It only takes 1 minute and 10 seconds in the oven at medium heat. (8) Let it cool down for 1-2 minutes before serving it on a plate or straight from the mug— (9) best with a scoop of Selecta Vanilla Ice Cream on top. They could do all these and many other microwave baking recipes they could find online. All they have to do is follow the recipe and they are on their way to a great time at home indulging their favorite desserts with their family or friends. This quick and easy way of preparing and cooking food will also come in handy when the unsuspected happens like surprise guests coming over for a visit, or, the need to replenish party food on the table, Midea Microwave Ovens are there to keep things going without breaking a sweat. Creating meals fast is just one of the friendly solutions a Midea Microwave Oven offers, it’s also cost-efficient. For both manual and digital models, the microwave oven will only cost you Php 1.00 on electricity per 3 minutes of cooking. That is already enough for several food items being cooked in a flash. Since cooking in a microwave oven doesn’t need much oil, the food comes with 10% less fat compared to conventional frying in a pan. Meals cooked from the Midea Microwave becomes healthier too because food that is cooked fast retain more nutrients than those cooked through the conventional method. Cooking in a microwave oven shouldn’t be something to be afraid of. Instead, it should be taken as a solution to the challenge of keeping up with the fast-paced lifestyle of the world. With Midea’s lineup of microwave ovens, everyone can easily learn how to cook in a flash easily with flair and finesse.

AS A kid, you knew you did well when you come home with a star stamped on the back of your hand. You parade it proudly, refusing to wash for fear the badge of honor disappears. Little did you know that for adults a star award is just as glorious. Chef Onishi Yki was awarded One Michelin Star in 2015 for his ramen joint Tsuta. he admits to being overjoyed at the recognition – the world’s first for a ramen restaurant and the only ramen shop in the world to have a star for 2015 and 2016. A Japanese noodle dish served in savory broth, ramen is a global culinary icon well loved the world over as comfort food any time of day. One can tell that foodie Filipinos aren’t immune to its charm, just looking at the ramen places mushrooming in the last few years. If you think you’ve tasted every kind of ramen in Manila, wait till you meet the signature ramen dishes that earned Tsuta the coveted star. Chef Yuki creates his own recipes to offer unique versions of the ubiquitous Japanese fare, while remaining as authentic as ramen can get. his awardwinning Shoyu Soba (soy-based sauce flavored ramen) boasts of the highest quality freshly made noodles and a deliciously rich broth from a blend of stock of asari clams and chicken, which makes it light, refreshing, and different from what’s currently available. It is then flavored by soy sauce made out of soybeans fully matured for two years in the shoyu brewery in Wakayama, especially for the restaurant. The resulting broth is clear, allowing other ingredients like the char siu, bamboo shoots, leeks, and truffles pureed in truffle oil

to take center stage in the mouth in a well-orchestrated explosion of flavors. The first Tsuta shop opened in Sugamo, Tokyo in January 2012 out of Chef Yuki’s vision of showcasing to the world a dish that is authentically Japanese. Following years of training under and working for his father’s ramen shop, Chef Yuki has mastered what ramen is supposed to be like, while still incorporating his own art into it. By carefully selecting the ingredients that go into the broth and masterfully controlling the elements that affect the taste and quality of the noodles, define ramen he actually did. The Michelin star award came as a surprise to the chef, given the fickle selection process and the anonymity of the Michelin Guide reviewers. In fact, he was sound asleep on that fateful Tuesday night when he got the call. Yet, even before the star, Tsuta was pretty popular, with people lining up as early as 6AM to get their hands on the delicious bowl for when the shop in Tokyo opens at 11AM. You can imagine how insanely long the line grew after the awarding! As certified foodies would know, the Michelin Guide traces its history way back to the 1900s when the tire company put out a guidebook to encourage road tripping in France. It eventually sent anonymous reviewers to try restaurants, a strategy it has continued to this day. The reviewers then decide who deserve stars, based solely on criteria relating to the food ─ quality, mastery of technique, personality, and consistency. Tsuta’s One Star meant that it is a good place to stop along one’s journey, offering cuisine prepared to a consistently high standard.

Demand for the Michelin-starred ramen skyrocketed, prompting Tsuta to open branches in hong Kong, Taiwan, Manila, and Singapore, where some 200 people lined up on opening day. Manila is this close to tasting the award-winning ramen, thanks to FOODee Global Concepts, the same group that brought here other Michelin-starred restaurants Tim ho Wan, FOO’D by Davide Oldani, and hawker Chan (also opening soon!), as well as Todd english Food hall, MeSA Filipino Moderne, Llaollao, and Sunnies Café. Filipinos are expected to match, or even surpass, past opening day fervor. After all, it’s a quintessential millennial experience to get to taste something that has been externally validated, what with our penchant for things out of the ordinary. To reward this, Tsuta Philippines will be giving special prizes to the first 100 people who will line up when Tsuta opens in Bonifacio high Street on December 16. The first 10 guests in line get a oneyear supply of Tsuta ramen (that’s one hot, delicious bowl of ramen a week), the next 20 get six months’ worth, another 20 get 3 months’ worth, while the succeeding 50 each gets a voucher for one free ramen bowl of signature Tsuta ramen. Stay tuned to the official Tsuta Philippines Facebook and Instagram accounts for details and mechanics. Chef Yuki believes that the Michelin star is his tribute to the ramen industry he grew up with. Can you imagine what his father and mentor could have thought when he went home with this particular star?

Tsuta Ramen, whose founder Chef Onishi Yki was awarded One MIchelin star in 2015, opens its first branch in the Philippines

MONDAY, JANUARY 8, 2018

For Chris Tiu, Christine Jacob and other athletes

SLEEP IS POWER

UCH has been said about the importance of a good diet and a regular exercise regimen in a healthy lifestyle. What is not mentioned enough is the power of quality sleep in ensuring that the body performs at its optimum levels. According to the National Sleep Foundation, the quality and amount of sleep athletes get is often the key to winning. Rapid Eye Movement (REM) sleep is said to be important in particular as it provides energy to both the brain and body, during sleep, hormones that help in muscular recovery and regeneration. The REM phase of sleep is likewise thought to be involved in the process of storing memories, learning, and balancing your mood, helping you focus during your waking hours. The recommended amount of sleep is 7 to 9 hours and if sleep is cut short, the body doesn’t have time to repair memory, consolidate memory, and release hormones. International athlete Serena Williams knows the power of sleep very well. It’s her secret weapon. The topseeded tennis player, who is one of the highest profile individual sport athletes in the world, says that a good night’s rest has been powering her tournament wins through the years. She has recently been launched as a Tempur global ambassador, encouraging more people to value sleep towards optimum performance. Serena has been sleeping on Tempur mattresses for 10 years, and brings her Tempur Symphony pillows with her wherever she goes. “I am really able to get a deep, undisturbed sleep. It makes a huge difference,” she says. “I can lie down and power up.” She is at the forefront of the brand’s latest international campaign, “Tempur. This Sleep Is Power.” Serena is not alone in her advocacy towards quality sleep. Several local athletes have joined in the Tempur campaign to talk about how a good night’s rest helps them win both in life and in sports. Here are some of our top sports personalities who share Serena’s views about the power of sleep: Christine Jacob Sandejas represented the country in the swimming competitions of the SEA Games in 1983 and in the 1984 Summer Olympics. She currently swims in relay leg for triathlons, training with her husband for competitions. She is also up early every day to anchor her morning news program at CNN. “Sports is part of my life. Aside from swimming, I play tennis with my family,” she shares. As an athlete, a mom, and a career woman, Christine puts a premium on the power of sleep. “It is one of the most neglected aspects in general, whether you are an athlete or not. It is part of how we function properly, more so if you add more stress on top of your daily grind, such as being an athlete or have to wake up early for your job, she adds. “A good night’s rest helps with your hormones, and at my age, it is all about hormones,” she laughs. “If I get enough rest, I feel so refreshed and ready to survive the whole day. My kids love me more too!” A Tempur mattress is surely perfect for Christine. Chris Tiu of PBA’s Rain or Shine wears many hats. Aside from his illustrious basketball career for both the pro league and the National Team, he is also an entrepreneur and showbiz personality. He is also a new dad. “My family knows that I am very big on sleep. I try to get eight hours as much as possible, but because of my many roles, I try to get at least seven hours. I also like to take naps in the daytime,” he shares. Sleep deprivation comes with a cost for him. He feels sluggish, he says, and more prone to injury. “My work is physically, mentally, and emotionally draining. The only way I can recover and perform at my best is when I get quality sleep. It allows the mind, body, and soul to recover.” He uses the Tempur Original Pillow to help him achieve quality sleep, he says. “It really makes a difference, because it is the perfect contour for my neck. I have never felt as comfortable with any other pillow and I don’t wake up with anything aching in my neck or shoulder area,” he adds. Chris is really looking forward to sleeping in his new Tempur mattress when he and his family move into their new home soon. Clarice Patrimonio brought home a silver medal for Tennis at the 2017 SEA Games. She is currently training for more competitions, aside from balancing everything with her school work as an HRM student at the National University. A millennial at 23, she admits that it is hard for her to sleep early because of her social media habit but says that she has realized the effects of lack of sleep on her performance. “I get sleepy in school, on the court, my response time is slower and I don’t play very well,” she observed. “This is why I am teaching myself to sleep on time. I believe that a winning attitude has to come with the discipline to take care of my body. Of course, it would also help if I sleep in a comfortable bed so I don’t toss and turn at night.” Tempur Pillows guarantee that Clarice stays on top of her game by getting the best sleep she needs. Jake Robrigado Letts has been with the Philippine Volcanoes for 12 years as a player and now also as the team’s Interim Managing Director or formally as National Team Head. He says he agrees with Serena 100 percent. “Athletes need their rest. Before a tournament, we go on rigid training 3-4 hours

CROSSWORD PUZZLE Monday, January 8, 2018

ACROSS 1 Bath cake 5 Joined together 10 Headquarters 14 Having the skill 15 Kitchen emanation 16 Made mellow 17 Summary 19 Miss Van Pelt 20 Big green parrot 21 Make do with 22 Luxury furs 24 Pierre’s brother 26 Tibet gazelle 27 Got out of debt 30 Big bash 34 Water or rust 35 Comedian — Laurel 36 Strike ignorer 38 Tokyo honorific 39 North Carolina’s capital 42 Columbus sch. 43 IRS employee 45 “The Clan of the Cave Bear” author 46 Caesar’s year 48 Axiom 50 Barrettes 51 Finish 52 Work very hard 54 Swiss lake

57 Outcry 58 Give — — shot 61 Dry riverbed 62 Diplomat 65 Gigi’s friend 66 Della or Pee Wee 67 Par for the course 68 — -do-well 69 Work clay 70 Stein fillers DOWN 1 Plunder 2 Bassoon cousin 3 Diva — Gluck 4 Energy 5 Pulled hard 6 Buy by mail 7 Garden-pond fish 8 Down Under birds 9 Injurious 10 Romantic songs 11 Chills and fever 12 Jiffies 13 Actress Ganem 18 More creepy 23 — Ami cleanser 24 Current rage 25 Admires 27 Sub — (secretly) 28 Precise 29 Smidgen

31 Grab a cab 32 Desktop pictures 33 Make a pit stop (2 wds.) 35 Slide sideways 37 Layabouts 40 Ant predator 41 Splits in two 44 Even smaller 47 No, to a laird 49 Clock numeral 50 Made happen 53 Tibet’s capital 54 Sports event

55 Jean Stein bestseller 56 Pious assent 58 Popular hero 59 Shredded 60 Octopi have eight 61 Sickly pale 63 Quilting social 64 Literary compilation

daily under the hot sun. Sometimes, we play for two days straight. We’re healed by sleep, so it is a key moment for all of us. We need to be sure that our bodies are ready for the games. It’s the quality of sleep that’s more important. It’s really getting into the zone.” The team uses Tempur Travel Kits to help them achieve a good quality of sleep in their quarters “It changes the quality of our sleep while traveling and eventually change the quality of our performance for the better,” he says. Lady Volcanoes Helena “Hilla” Indigne (Center/Fly Half), Rassiel “Rara” Sales (Winger), and Kaye Llanie “Aye” Honoras (Fly Half Utility) talk about their training schedules and how sleep helps them give their best shot. When in season, their training is held three times a day and their coaches tell them to sleep eight hours and do power naps in between the trainings. It helps them rest, recover, and focus, they say. Their Tempur Travel Kits and accessories are a big help when it comes to following their coaches’ instructions. Hilla shares, “Normally, nights before the tournament, we’re tired, agitated and anxious. Our Tempur Travel Kit and accessories help us relax while we travel.” Rara agrees. “Aside from training, traveling to compete is really stressful and we don’t really get to be in business class when we travel, so Tempur travel accessories help us rest more on the plane.” Aye takes every opportunity to sleep, even on flight layovers. “When we have ones that last more than 4 hours, I really just want to sleep. So I would rather stay in the airport benches and take a nap. Tempur travel accessories make us comfortable on those times.” The three athletes say that they believe a Tempur kind of sleep recharges them and improves their overall performance. “It will empower us to give our best shot as we represent the country here and abroad.” New Mattress Collection The brand recently launched its new Flagship Collection available in the Philippines through its exclusive distributor, Focus GlobaL,, Inc. With a soft, tailored cover and bright trim, the new Tempur mattresses look as good as they feel, with a cover that neatly zips off and on, making it easy to remove and wash. There are four distinct collections, each feeling uniquely different, but all designed to conform and adapt to the shape of your body. The Original Collection is designed for a firmer feel. It is all about the core benefits that built the Tempur name around the world. Space technology allows you to enjoy weightless comfort and support for the entire body. For those who want a mattress with a softer feel but with good support, choose the Cloud Collection. The top layer is specially developed with Tempur’s Extra Soft Material, to instantly cushion and hug your body. There’s also the Sensation Collection. Designed for ease of movement, it gives you the weightless comfort of a Tempur mattress while affording you the freedom of movement. Lastly, The Hybrid Collection is a re-invention of the Tempur mattress. Every element has been redesigned to bring you the latest innovation in bedding, enabling you - for the first time- to experience both the pressure relieving benefits of advanced Tempur material and the responsiveness of springs. Rest Easy Tempur is the only mattress and pillow brand licensed by the US Space Foundation to use the Certified Technology Seal. It has changed the way people sleep and relax. Its revolutionary products made from visco-elastic, pressurerelieving, and temperature-sensitive material adapts and responds to every body shape and sleeping position, weight and temperature. Tempur in the Philippines is exclusively distributed by Focus Global Inc. for the last 12 years. To know more about Tempur, visit the TEMPUR showrooms at: Level 3, Greenbelt 5 Ayala Center, Makati | Tel No. (02) 728.3015; Level 5, Main Wing Shangri-La Plaza Mall EDSA corner Shaw Boulevard, Mandaluyong | Tel No. (02) 631.1391; B5, Bonifacio High Street, Bonifacio Global City, Taguig | No. (02) 856.4700; Design Center of Cebu, P. Remedios cor. A.S. Fortuna Sts., Mandaue, Cebu | Tel No. (032) 520.9888 / 238.7605 and at its new showrooms located Level 3, Ayala Malls Vertis North Quezon City| Tel No. 924-6616; Level 2 Ayala Malls The 30th , Pasig City | 636-0161.

BEST DIRECTOR. Paul Soriano's romantic island movie, 'Siargao,' is the most decorated MMFF film entry winning major awards including the Best Director trophy

Isah V. Red, Editor Nickie Wang, Writer isahred@gmail.com MONDAY, JANUARY 8, 2018

‘SIARGAO’

Surprise MMFF winner with 7 major awards I

F THERE’S anyone more surprised in the recently concluded Metro Manila Film Festival (MMFF) it is no other than ﬁlm director Paul Soriano.

Already reeling in glee when Siargao was chosen as one of eight entries to last year’s MMFF, Soriano’s joy even septupled after Gabi ng Parangal at KIA Theater on the 27th of December last year. And why not, Siargao, touted to be at the bottom of the box-ofﬁce race was showered with awards, all major, during the awards night including Best Director for Soriano. And Soriano wasn’t even expecting. He had conceded that the most ﬁlm that had been lavished

with praises by critics, legit or slipshod, would run away with the trophy. Yet, his name was called and his team celebrated. “When I entered the film for the four completed films after the four films based on the screenplay had been chosen, I didn’t even expect it would make the grade. I had a March play date for Siargao, so I said if it didn’t make it, we would just release it as planned,” Soriano said over lunch at Relish in Quezon City last Thursday. But things turned out for the better. It was chosen and with the awards, theaters that at the beginning were wary to screen the “indie” film booked it and since the day we talked, Siargao has the third biggest number of screens nationwide. Siargao is Soriano’s first foray into the romance-

travel genre. It was voted second Best Picture apart from Soriano’s Best Director trophy, his first at from the MMFF. ISAH V. RED Jasmine Curtis-Smith, meanwhile, took home the Best Supporting Actress award for her role as the environmentalist Abi who happens to be the former love interest of Diego (Jericho Rosales). Mark Victor bagged the Best Editor trophy while the film was awarded Best Cinematography for perfectly capturing the Surfing Capital of the Philippines’ signature herculean, clear waves and its bright and picturesque island and locals. Allowing the movie to sail further was its theme song “Alon” by local alternative rock band Hale, which also bagged the Best Original Theme song award. Not only that, the film was also awarded

Best Sound. Soriano shared the award with his artists, staff and crew saying it was his ﬁrs in the annual MMFF hence making his debut in the festival doubly memorable. Soriano also learned an important lesson from joining the festival. He said, “If there’s one thing that this festival has really taught me is that not everybody is going to like what you make and not everyone is going to appreciate what you made.” “But there are people that get what I want to say and it’s because of those people that I will continue to tell stories, to continue to make ﬁlms because this is what I love to do,” he said when he accepted the award that night. Siargao starring Jericho Rosales, Erich Gonzales and Jasmine Curtis-Smith is still showing in selected cinemas nationwide as part of the Metro Manila Film Festival 2017.

Consistent no. 1 from January through December Awards season kicks off with GMA Network, Inc. (GMA) cemented its status as the no. 1 broadcast network in the country with remarkable nationwide television ratings performance based on Nielsen TV Audience Measurement’s full year data from January to December last year. Throughout the year (with Dec.24 to 31 based on overnight data), GMA registered a winning average of 42.5 percent total day people audience share in the National Urban Television Audience Measurement (NUTAM), ahead of ABS-CBN’s 36.8 percent. The Network was able to signiﬁcantly widen its margin over competition in full year 2017 to an impressive 5.7 NUTAM people share points from its 0.2-share point lead in full year 2016. Moreover, GMA grabbed the total primetime lead in average

2017, expanding its leadership across all day parts. The Network likewise topped competition for the entire 2017 in all time blocks in both Urban Luzon and Mega Manila, which respectively account for 76 and 59 percent of all urban viewers in the country. The Kapuso Network posted winning numbers in Urban Luzon as it tallied 48.8 percent beating its rival network’s 31 percent by higher margins. In Mega Manila (with ofﬁcial data from Jan.1 to Dec.23), GMA registered a bigger lead with 51.9 percent versus ABS-CBN’s 26.7 percent. GMA, which consistently bested ABS-CBN in total day audience shares in all months of 2017, also garnered 44.3 percent versus the competitor’s 37.2 percent in December. The

Golden Globes and SAG onSKY

'Magpakailanman,' hosted by Mel Tiangco, joins the list of the most watched TV programs of 2017

Kapuso Network further capped off a successful year by gaining a higher advantage of 7.1 points in its December share lead alone. Similarly, Urban Luzon continued to be GMA’s stronghold with the Kapuso Network garnering 49.5 percent in December compared to the Kapamilya Network’s 31.7 percent. Mega Manila (with ofﬁcial data from Dec. 1 to 23) also remains as GMA’s bailiwick with 52.7 percent versus competition’s 27.2 percent, posting bigger audience shares and lead margins year-onyear in all day parts. Overall, the Network dominated NUTAM’s list of top programs for 2017 with 20 out of 30 programs coming from GMA. Reigning supreme in the list is the well-loved Kapuso primetime series Encantadia, which became the no.1 program for two consecutive years. Award-winning magazine program Kapuso Mo, Jessica Soho grabbed the second spot as the most-watched Kapuso program for the year followed by the Alden Richards and Maine Mendozastarrer Destined To Be Yours. Also in the list of most watched Kapuso shows were Pepito Manaloto, Magpakailanman, 24 Oras, Super Ma’am, Mulawin vs Ravena, Alyas Robin Hood, Daig Kayo ng Lola Ko, and All-Star Videoke. Also included were My Love From the Star, Kambal Karibal,

Meant To Be, Kapuso Movie Night, 24 Oras Weekend, Someone To Watch Over Me, Hay Bahay!, Ika-6 Na Utos, and Tsuperhero. Notably, GMA’s exclusive free TV telecast of Manny Pacquiao’s last fight, dubbed the “Battle of Brisbane: Pacquiao vs Horn”, was the most watched TV special for the year. Meanwhile, the Kapuso Network kick-starts the New Year with an exciting line-up of programs set to launch within the first quarter of 2018. First off is the romantic comedy series The One That Got Away with Lovi Poe, Max Collins, and Rhian Ramos who are all attracted to the character played by Dennis Trillo. Returning to the small screen, as well, are the love team of Gabbi Garcia and Ruru Madrid in Sherlock Jr.; Glaiza de Castro in Contessa; and Megan Young and Katrina Halili in The Stepdaughters. Kapuso viewers should also watch out for GMA’s first “advocaserye” starring Yasmien Kurdi as a mother/wife diagnosed as HIV-positive in Hindi Ko Kayang Iwan Ka. Lastly, a new world of magic and mystery comes to Philippine television as GMA Public Affairs launches the adventure-filled fantasy series Sirkus featuring Mikee Quintos and Mikoy Morales, together with Gardo Versoza, Andre Paras, Sef Cadayona, Chariz Solomon, Klea Pineda, and Cherie Gil.

SKY ushers in the new year with the start of the Hollywood awards season as Blue Ant Entertainment, previously known as RTL CBS Entertainment, brings the 75th Golden Globe Awards and the 24th Screen Actors Guild Awards (SAG) live from the USA. Featured in this year’s Golden Globes is the awarding of the 2018 Cecil B. de Mille Award to acclaimed actress, producer, television star, and entrepreneur Winfrey The award is Oprah Winfrey. annually given to an individual for their incredible impact on the world of entertainment. Past honorees include Audrey Hepburn, George Clooney, Meryl Niro and Streep, Robert De Niro, Freeman Morgan Freeman. Renowned director Guillermo Toro adult fairy tale fandel Toro’s tasy The Shape of Water, meanwhile, leads this year’s group of nominees with seven nods, including one for Best Picture. Also nominated for Best Picture is the emotional coming-of-age movie Call Name DisMe By Your Name. ney’s latest hit, Coco, on the other hand, received a Best Motion Picture – Animated nomination. Saturday Night Live alumnus Seth Meyers will host the show, which will air live from the Beverly Hilton Hotel ﬁrst and exclusive on Blue Ant Entertainment on SKY on 9 a.m. today. Meanwhile, the 2018 SAG Awards begins a new chapter as it features a host for the ﬁrst time in its 24–year history in the person of Frozen voice actor, Bell Kristen Bell. Leading this year’s acting powerhouse nominees in the awarding body solely for

performers is Peter Dinklage of HBO’s Game of Thrones. The multi-awarded actor received three nominations from his acting peers; two for GOT and one for the movie, Three Billboards Outside Ebbing, Missouri. Known as the “voice of God” in many Hollywood movies, Morgan Freeman is also set to become the 54th recipient of the SAG Life Achievement Award for his career achievements and humanitarian efforts. The award is given to actors for “fostering the ﬁnest ideals of the acting profession.” The 24th SAG Awards will air live from the Shrine Auditorium in Los Angeles, also ﬁrst and exclusive on Blue Ant Entertainment on SKY, 9 a.m. on Jan. 22. Blue Ant Entertainment is available on SKYcable channels 53 (SD) and 196 (HD), SKYdirect channel 35, and Destiny Cable channel 53. TV personality Seth Meyers wears the hat as this year's Golden Globe's main host