CHINA OFFERS JOINT WAR DRILL, OIL HUNT WITH ASEAN
(NEWS A2)
Ruling party execs regroup, close ranks By Maricel V. Cruz IN FACE of confusion over developments in the erstwhile ruling party PDPLaban and other Duterte-allied parties, the former held a leadership assembly Thursday in Quezon City to iron out what was perceived as confusion by some officials. Both former Senate President Aquilino Pimentel III and former Speaker Panta-
leon Alvarez of Davao del Norte called for party unity amid the squabble, with the latter saying he “remains friends” with party mates even after his ouster as House leader by Pampanga Rep. Gloria Macapagal Arroyo. In related developments: • The group of Alvarez has elected a party-list lawmaker as the new minority leader, Ilocos Norte Rep. Rodolfo FariNext page ñas said.
VOL. XXXII • NO. 169 • 3 SECTIONS 16 PAGES • P18 • FRIDAY, AUGUST 3, 2018 • www.manilastandard.net • editorial@manilastandard.net
PRESENT FISTS. Members of the ruling party PDP-Laban, led by former Senate president Aquilino Pimentel III and former Speaker Pantaleon Alvarez, gather Thursday at the Seda Hotel in Quezon City for what the party calls a leadership meeting. Members thrust the now too familiar Duterte signature lunge, in an apparent gesture they are with the President. Manny Palmero
Senate won’t act on Cha-Cha Fil-Am ‘Superman’ sets a record THAT’S what happened to 10-year-old Filipino-American swimmer Clark Kent Apuada, who recently erased a record set by Michael Phelps—the most decorated Olympic athlete of all time —23 years ago. Next page
‘Kiki’ challenge risky, MMDA warns THE government on Thursday warned people of the danger of dancing the “In My Feelings” or “Kiki” challenge, adding that anyone who will caught doing this in public may be put in jail or can be charged for violating the AntiDistracted Driving Act. Next page
Arroyo pushes We’ll just fold our arms and do nothing—Lacson 5 measures to HE proposal to amend the tame inflation Constitution to shift By Macon Ramos-Araneta
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the country toward a federal system of government is dead as a majority of the senators have taken a united stand to oppose it, Senator Panfilo Lacson said Thursday.
By Macon RamosAraneta, Maricel Cruz and Nat Mariano SPEAKER Gloria Macapagal Arroyo recommended at least five measures to address inflation during a recent meeting with the country’s top economic managers, Budget Secretary Benjamin Diokno said Thursday, even as the House committee on ways and means approved a bill lowering corporate income taxes and amending other provisions of the Tax Code. “She seems to be very concerned with inflation,” Diokno told the ANC morning newscast. He said Arroyo elaborated on the proposals during a closed-door meeting that was also attended by Economic Planning Secretary Ernesto Pernia. Next page
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Islamic teacher arrested for ‘direct info’ on Basilan blast By Francisco Tuyay AN ISLAMIC teacher believed to have direct knowledge of the car blast that killed 10 people Tuesday on the outskirts of Lamitan City was arrested by government troops two days after the attack.
Authorities also identified the owner of the 10-seater van loaded with explosive devices that went off at the Bulanting checkpoint outside of Lamitan City. Col. Gerry Besana, spokesman of the Western Mindanao Command, identified the bombing suspect as Ustadz Jainul
Warship out to rescue Korean, 4 Pinoys
Luy admits transfer of pork funds to US
SEOUL―Seoul said Thursday it had deployed a warship to Libya in an apparent show of force to secure the release of a South Korean national kidnapped along with three Filipinos in the North African country. The 4,000-ton vessel Munmu the Great, which takes part in anti-piracy operations in the Gulf of Aden, was now on its way to Libya, officials said.
By Maricel V. Cruz and Rio N. Araja PORK barrel scam whistleblower Benhur Luy on Thursday said he transferred funds to the bank accounts in the US of businesswoman Janet Lim Napoles now facing prosecution for money laundering in a criminal case filed in the United States. Continuing his testimony at the trial of the plunder case against Napoles and former senator Ramon Revilla Jr. at the Sandiganbayan, Luy alleged that part of the funds from Revilla’s pork barrel or Priority Development Assistance Fund that supposedly went to implementing agencies were sent to the US. Speaking in Tagalog, Luy said in his testimony his group had the money sent to her US accounts by telegraphic Next page transfer.
Maialim Indamin, 58, alias Abdulgani, a resident of Timbakan Barangay Maganda, Lamitan. Besana said in the course of their investigations, Lt. Col. MontanoAlmodobar, commander of the 3rd Scout Ranger Battalion
“As of last Tuesday... the Senate is solid in its stance not to enter in what lawyers call a cause of action. We will not take appropriate actions that would give [someone] the opportunity to question it before the Supreme Court,” Lacson told the regular “Kapihan sa Senado.” “So we have agreed that as of now, we’ll just fold our arms and do nothing,” he added. The matter of Charter change, Lacson said, is still in the committee level in the Senate, and they are still talking about the mode that could be adopted. “We’re not about to preempt what the committee on constitutional amendments and revision of codes and laws is doing,” Lacson said. Lacson also said the Senate would be trapped if it were to adopt a resolution convening the Senate and House of Representatives as a constituent assembly as a way to amend the Constitution.
In addition to “carrying out its duty of protecting commercial vessels, [the warship] is also preparing for all possibilities including the need for military support,” a defense ministry spokesman told AFP, without elaborating. The three Filipino engineers and a South Korean were abducted in an attack on a water project site in western Libya on July 6. Next page
Primer on draft Con-Com Constitution
order. When the Church owns taxable property—a building that is rented out to offices or establishments—such a property and income therefrom will be taxed. (14th of a series) However the provision of the 1987 ConQ: There has been some clamor now stitution on exemption of churches and for churches, particularly the Catholic other religious buildings actually, diChurch, to be taxed. Are the exemp- rectly and exclusively used for religious tions still in the draft? purposes remains in place. In this regard, A: In the first place, distinctions are in Next page
Fr. Ranhilio Callangan Aquino Con-Com 2018 Member
HIGH ALERT. The bomb explosions in Lamitan, Basilan—with the arrested suspect, Indalin Jainul (screen grab from UNTV website [inset]), have sent ripples of reaction to as far north as the national capital region, with the NCRPO, headed by Chief Supt. Guillermo Eleazar declaring heightened alert level for police in the metropolis. Photo shows the Quezon City Police District conducting an inspection and tight security at the provincial buses terminal in Quezon City Thursday. Manny Palmero
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NAPC chief on murder raps: I’m innocent By Rio N. Araja NATIONAL Anti-Poverty Commission lead convenor Liza Maza has maintained her innocence in any involvement in the double murder cases filed against her and three other former party-list lawmakers before a lower court in Nueva Ecija. In an exclusive GMA-7 interview, Maza denied she is hiding from the law. “I am not a fugitive. I am not a criminal. The charges were just fabricated. These have been filed a long time ago, and that related cases have already been dismissed,” she said. “I know we can prove it that I and the three other lawmakers are all innocent,” Maza added. Meanwhile, Fr. Edwin Gariguez of the church-based National Secretariat for Social Action said raising a 12-year-old case against Maza and other former leftist lawmakers “may be a way to silence the opposition.” The case is suggestive of martial law-era practice, Gariguez said in an article posed on the Catholic Bishops’ Conference of the Philippines website. “Arrest warrants issued based from trumped up charges for activists and militants are common strategy of the military and the government to harass and to silence opposition,” the priest said. “We support the causes of [former Agrarian Reform secretary] Ka Paeng [Mariano] et al. We demand to stop tyranny and harassment of progressive groups,” he added. Gariguez was referring to the warrant issued for a murder case filed in 2006 against Maza, Mariano, and former lawmakers Satur Ocampo and Teddy Casiño of Bayan Muna.
China proposes joint oil hunt, games with Asean By Rey E. Requejo
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HINA wants military exercises and energy exploration with Southeast Asian nations in the disputed waters, according to a draft document, but insists on outside countries being excluded in what analysts said was a bid to diminish US influence. Beijing’s suggestions are part of its efforts to expand its influence in the South China Sea, which it claims almost entirely, and push back at Washington, which has backed countries with overlapping claims to the waters. A code of conduct between Beijing and the Association of Southeast Asian Nations to govern behavior in the strategic sea has been years in the making. The draft document outlines different countries’ bargaining positions as they work towards an agreement, and analysts said it represented some initial progress. In the text, Vietnam offers the strongest opposition to Beijing’s activities―calling for countries to stop building artificial islands and establishing military installations. But there was little sign of serious
resistance from other countries, signaling how the opposition to China’s aggressive expansion in the resource-rich waters has ebbed in recent years in Southeast Asia. Brunei, Malaysia, the Philippines, Taiwan and Vietnam have rival claims to China’s in the sea. Tensions have escalated in recent years due to Beijing building artificial islands that can host military bases. Meanwhile, the US―traditionally the dominant military power in the area―has more frequently carried out patrols aimed at ensuring freedom of navigation. In the draft text, Beijing suggests that China and the 10 Asean states should carry out joint military exercises regularly. However, the drills should not involve
Warship... From A1
Luy... From A1
Justice Secretary Menardo Guevarra confirmed Wednesday that Napoles, along with her children Jo Christine, James Christopher and Jeane Catherine, her brother Reynaldo and his wife Ana Marie, had been indicted by a federal grand jury for the crime of conspiracy to commit money laundering, domestic money laundering and international money laundering. Luy said he was “not allowed to speak anything about” possibilities that might be asked to testify against the Napoleses in the US in the light of his latest revelations. In a related development: • Former President Benigno Aquino III, reacting to the ruling of the US federal grand jury indicting Napoles and her children, said while the Philippines had extradition treaties with 13 countries, including the United States, the plunder and graft raps against her must first be heard and resolved in the Philippines. “During my time, we had extradite (sic) treaties with 13 countries. They believe that they [US] have the right to [do so] if they want to,” he said. “But, of course, we want to have our own justice that needs to be served first before them.” The US court indicted Napoles and the other accused, along with 20 lawmakers and other government officials, converted to their own benefit millions of dollar in pork barrel fund and transmitted $20 million of the amount into the US “to purchase assets, including real property and luxury vehicles.”
Ruling... From A1 Fariñas said the 14-member Alvarez group at the Lower House elected Wednesday ABS Party-list Rep. Eugene de Vera as the new minority leader, replacing Quezon Rep. Danilo Suarez. Fariñas said De Vera should be recognized as the new minority leader since Suarez voted for the election of Arroyo as the Speaker. --But Suarez shrugged off De Vera’s alleged taking over of his post, saying he would only give up the minority chairmanship once the Supreme Court had said so. Suarez made the statement in response to Fariñas’ claim that he planned to challenge before the high court the minority squabble at the House if the controversy was not resolved in accordance with House rules. “If I feel that I am not in a position anymore to lead the minority, then I will politely vacate my post if the court says so,” Suarez said. “Maybe we can see some clearing if the Supreme Court releases a decision on this,” Suarez said. Suarez appealed to his colleagues, especially those who are challenging his post, “to understand” the situation, and move on. “Let us get back to work. The House has nine months to go,” Suarez said. Alvarez himself had said he was not interested to be the new minority leader. “Of course not,” Alvarez said at the sidelines of the PDP-Laban leadership assembly when asked if he was interested to take the position of Suarez following his ouster. “We have no objections to De Vera as our minority leader,” Alvarez said. Alvarez, Fariñas and 11 lawmakers have applied with De Vera to become members of the minority bloc. De Vera is the legitimate minority leader because he is the second ranking minority member—being a deputy minority leader— who abstained from voting for Arroyo, Alvarez’s group said.
countries outside the region “unless the parties concerned are notified beforehand and express no objection.” The suggestion to exclude outside countries “is obviously targeted at the US, which has been dominating the waters of the Western Pacific and the South China Sea in particular,” Hoang Thi Ha, from the Asean Studies Center, ISEAS Yusof Ishak Institute in Singapore, said. By proposing joint military exercises, China is trying to send a “subtle message to the world that ASEAN and China could work together and things are progressing well, hence there is no need for external involvement in the South China Sea issue,” said Ha. Beijing also suggested that China and Asean could carry out joint oil and gas exploration in the waters but again proposed that firms from countries outside the region be excluded from such activities, the document showed. At a meeting of foreign ministers in Singapore on Thursday, Beijing and Asean announced they had agreed on the negotiating text for the code. With AFP
HOSTAGES. This screen grab image taken from video released on Aug. 1, 2018 and provided courtesy of the SITE Intelligence Group shows four hostages, one from South Korea and three from the Philippines, who are foreign employees of an engineering company in Tripoli, pictured sitting in the desert at an undisclosed location, according to SITE. Seoul said on Aug. 2 it had deployed a warship to Libya in an apparent show of force to secure the release of a South Korean national kidnapped along with three Filipinos in the North African country. AFP
Arroyo... From A1 In the Senate, Senate President Vicente Sotto III filed his own version of the Tax Reform for Acceleration and Inclusion Law 2, focusing on lowering corporate income taxes for small and medium enterprises from 30 percent to 25 percent, without removing—but “rationalizing”—any existing tax incentives. Saying this was a revenue-neutral tax measure, Sotto said it would not have any inflationary effects but provide support to more than 90,000 SMSEs. In the House, the committee on ways and means chaired by Quirino Rep. Dakila Cua, approved the tax measure days after Arroyo said the the second package of the administration’s tax reform law is a priority bill—being part of President Rodrigo Duterte’s legislative agenda and tagged as urgent in his State of the Nation Address. The committee is now preparing to consolidate various version of the measure by creating a technical working group tasked
Islamic... From A1 Company went to question Jainul but upon noticed a grenade in his possession. He said Jainul also facilitated the entry of foreign terrorists from Malaysia. The Municipal Police Station of Lamitan have filed multiple murder and multiple homicide cases, as well as illegal possession of explosives charges against Jainul. The vehicle carrying the bombs, said to be intended for an attack in the heart of Lamitan City, was traced to a former barangay captain in the town of Jadji Mohamad Ajul in Basilan. Chief Supt. Robert Fajardo, director of the Highway Patrol Group, said they will invite the owner of the 10-seater van to shed light on the bomb attack. Col. Edgard Arevalo, spokesman of the AFP, blamed the Abu Sayyaf Group for the attack. Alert levels have gone up after the attack. Armed Forces chief Gen. Carlito Gal-
Primer... From A1 it is important to point out that it is NOT the BIR that determines who gets the exemption and what exemptions may be enjoyed, because the source of the privilege is the Constitution itself. Q: What reason might there be for this exemptions? A: Ours is a country that recognizes the salutary role of religion in the shaping of both individual and national character. The exemptions allow for the free and untrammeled practice of religion and of worship. In other words, the exemptions serve the purpose of strengthening and enhancing the fundamental guarantees of freedom of belief and the free exercise clause of the Constitution. Q: The Constitution retains the prohibition against the support of any sect or denomination. Does this prohibit the grant of educational vouchers or subsidies to private sectarian or
to come with the final draft of the bill. Albay Rep. Joey Salceda moved for the approval of the bill. Deputy Speaker and Batangas Rep. Raneo Abu, one of the principal authors of the bill, said the bill “is a corrective measure to address redundant incentives given to firms which fixed income earners are in a way subsidizing.” “We believe that we support infant industries but it should be time bound,” Abu said. “We are lowering the corporate income tax, which will cushion the effect of removing the incentives of those companies which for so long enjoy the incentives but [have] no inputs to exports and labor. Our corporate income tax rate is the highest in Asean (Association of South East Asian) countries. We are pro-investors,” Abu said. Under the proposed second package of the TRAIN Law, the government aims to lower the corporate income tax from 30 percent to 25 percent and to modernize the fiscal incentives to attract new and growing industries. vez Jr., meanwhile, said the bomb attack was launched to threaten local government units to give in to Abu Sayyaf demands for P50,000 per LGU as protection. “They [LGUs] have agreed that no one will give to the Abu Sayyaf,” he added. He said there could have been more casualties had it not been for the vigilance of the troops manning the checkpoint. Tuesday’s bomb explosion resulted in the death of 10 people, including the suspected bomb courier (not 11 as earlier reported), and seven others wounded. The fatalities included a soldier, four militiamen and four civilians, who were militia dependents. Galvez said the most probable target of Tuesday’s bombing was the parade for the nutrition month culmination activity, which was participated in by more or less 4,000 children from the different schools in Lamitan City. “They wanted to make a very strong statement and that is through the bombing [on Tuesday],” Galvez said. With PNA religious schools, including Islamic schools? A: No, it does not. Where the religious establishment performs a service that may be characterized as “secular” in nature—or at least beneficial to all—such as education, that it is responding to a public need and may receive public support. Sectarian schools, particularly Catholic schools, carry a large part of the burden that should be borne by the State of providing education to citizens. As such, they are entitled to such support as may enable them to continue performing their service to the public. Q: Why are there degree requirements now for members of the Legislature as well as for the President and the Vice-President of the Philippines? Is such a requirement not undemocratic? A: A democracy endures for as long as public office is, in principle, open to all. That remains so, even if degree requirements be prescribed, because college education—the minimum qualification—is now readily
Their governments confirmed they were featured in a video shared on social media this week. The video, also posted by the SITE Intelligence group, shows the four men addressing the camera in English. An armed guard is pictured squatting behind them in the sand, but their captors are not identified and the attack has not been claimed by any group. It was not clear when the video was shot. “The Philippine embassy in Tripoli has confirmed that the three men in the video are the three Filipino technicians who [were] taken by armed men in Libya last month,” Philippine Foreign Affairs spokesman Elmer Cato told AFP. A spokesman for Seoul’s presidential office said the government was doing “its utmost with all the resources the country has.” “His country and his president have never once forgotten him,” spokesman Kim Eui-kyeom said in a statement. “The government has been maintaining a close cooperation system with the government of Libya and other allies, such as the Philippines and the United States, since the day of the incident for his safety and release,” Kim said. Since former Libyan dictator Moamer Kadhafi was ousted from power and killed in 2011, foreign workers and diplomatic missions have frequently been targeted by militias or jihadists such as the Islamic State group. AFP
‘Kiki’... From A1 The challenge—which incorporates a videotaped dance choreographed to Drake’s hit song, “In My Feelings”—has been viral on social media since June as various celebrities worldwide popularized it. “There is really no law that stops you to do that. Stepping on someone’s rights, freedom to do whatever you want. There is no specific law prohibiting you doing that. But for us, there is a law on driving,” said Edison Nebrija Jr., supervising officer for operations of the Metro Manila Development Authority. Under the implementing rules and regulations of ADDA, drivers are prohibited from using electronic devices and mobile phones, except when the hands-free functions have been enabled. Gadgets should also be placed only on the car’s dashboard as long as these don’t exceed the four-inch height limit. Among the prohibited acts under this law meant to make driving safer are holding the device to make or receive calls; composing, sending and reading text messages; performing calculations; playing games; watching videos, and browsing the Internet. The first offense has a fine of P5,000, the second offense goes up to P10,000 while P15,000 for the third offense including suspension of the driver’s license for three months and P20,000 for the fourth offense including revocation of the driver’s license. Nebrija said doing the viral stunt put “the life of passengers in danger and also the motorists, not to mention about the other motorists.” Joel Zurbano available and, under resent legislation, even free for those who qualify. In the 21st century, given the enormity of the problems of leadership, that one is able to read and write will no longer be sufficient to enable a person to cope with the challenges of office. Please note that the phrase “or its equivalent” is always appended to the degree requirement—so that when education, training, apprenticeship are equivalent to a college degree, as certified by the appropriate government body, then a person is qualified for office. Q: In this jurisdiction, aside form the laws (entitled Republic Acts) passed by Congress and those enacted by initiative, are there other legal norms with the status of statutes? A: Yes, there are. Customary international law, insofar as it forms part of the generally accepted principles of international law, is part of the law of the land and has the same rank in the legal hierarchy as a statute. Simi-
Senate... From A1 The House of Representatives had earlier approved a resolution for that purpose, but it has no counterpart in the Senate. Lacson said if the administration really wants Charter change, it should do it through a constitutional convention where delegates are elected. But he said he would agree to a constituent assembly if only economic provisions of the Charter are reviewed and amended. Lacson said Speaker Gloria Macapagal Arroyo’s statement that the House would consider separate voting—a key Senate demand—was no guarantee because the concession could be taken back. “But by the time that we can adopt a joint resolution and we enter a joint session… anything can happen,” he said. If the House backtracks on Arroyo’s commitment, he added, the senators would be trapped like mice. “We can no longer get out,” he said. He also said Arroyo could just be speaking for herself when she talked about voting separately. “Assuming that she’s sincere and genuine in saying she is for voting separately, she is only one vote despite being the Speaker of the House,” he said. Senate President Tempore Ralph Recto said he would not take a risk on Charter change, noting any member of the House could insist on joint voting and raise the issue before the Supreme Court. “I will not risk it as I am against a total revision of the Constitution shifting to a federal form of government that may include a parliamentary system,” he added. Senator Francis Pangilinan said Arroyo’s willingness to support separate voting was no guarantee and can be challenged before the Supreme Court. “It doesn’t prevent any congressman or interested party from bringing the matter to the Supreme Court to seek a ruling in favor of joint voting,” Pangilinan said in a statement. “Looking at the voting record of the Supreme Court in the last two years, a ruling in favor of Con-ass voting jointly is not far fetched.” “Hence we remain skeptical and we should not let our guard down against the possibility of a House only Cha-Cha as an option for those zealously pushing for Charter change,” he said. Senate President Vicente Sotto III acknowledged that the proposal to shift to a federal form of government still has a long way to go. He said lawmakers should focus on implementing the Bangsamoro Organic Law, which could be a model for federalism. Senator Aquilino Pimentel III said Arroyo must allay the fears of some senators that she seeks to be prime minister in a federal system of government. “The new Speaker must win the trust of my fellow senators because I can feel the mistrust or distrust of senators towards the new Speaker. They say she might have a hidden agenda,” he said in a mix of Filipino and English. Also on Thursday, former Supreme Court justice Vicente Mendoza said the loss of prestige of a single Supreme Court would hurt the justice system. Speaking at a forum about the consultative committee’s draft federal constitution on Thursday, Mendoza said the creation of multiple courts would diminish the prestige of the Supreme Court, thereby compromising the ability of the judicial branch to hold the other two branches accountable. The Federal Supreme Court, he added, would be “but a shadow of the present Supreme Court.”
Fil-Am... From A1 Nicknamed “Superman” after the secret identity of the comic-book hero, Apuada set the new mark in the 100-meter butterfly event of his age group at the Far Western Swimming Championship in Santa Clara, California this weekend. The fifth-grader’s winning time of 1:09:38 supplanted Phelps’ mark of 1:10:48, posted in the same age bracket in the same event in 1995. That Apuada shaved off more than a second—an eternity in swimming events where winners are decided by split seconds—off the American Olympian’s record didn’t fail to catch the attention of Phelps, who lauded the boy on his Twitter account. “Big congrats to #clarkkent for smashing that meet record!!! Keep it up dude!!” Phelps said, adding the hashtag #dreambig. Apuada, who started swimming at three years old, idolizes Phelps—who has won 28 Olympic medals, including 23 gold medals—according to his coach, Dia Rianda, CEO of Salinas Aquatic Center in California. larly, treaties and international agreements entered into by the President and concurred in, as required, by the Senate, also have the force of statutes. And when statute and treaty provision conflict with each other, the doctrine of “lex posterior” will apply, if all attempts at harmonization fail: the posterior norm (that enacted or passed or entering into force later) shall control. Q: Will the acts passed by the Regional Assemblies have the complexion of laws or of ordinances, such as those passed by the local government units? A: The draft Constitution clearly delineates between those matters on which only Federal Congress may legislate, and those which are committed to the competence of regional assemblies. Therefore it is contemplated that regional assembles propose genuine legislative power, and in those areas or fields entrusted to their competence, federal congress may not legislate.
News Lacson describes Sara ‘potential nat’l leader’ By Macon Ramos-Araneta WHILE he is not backing Davao City Mayor Sara Duterte, Senator Panfilo Lacson stressed that among the present crop of young leaders, she was the only potential national leader. “I am not endorsing her. I’m just saying among young leaders, I think you can agree with me that we are looking at Sara,” Lacson told reporters during Thursday’s regular “Kapihan sa Senado.” “Speaking of Mayor Sara Dutere, make no mistake, If the next leader of our country would emerge from the young, fresh and new faces in national politics, my top choice right now is Sara Duterte,” said Lacson. Lacson descriibed the daughter of President Rodrigo Duterte as “strong-willed, stern, vibrant, progressive-minded, and had obviously good leadership qualities.’’ He stressed that the Davao mayor was his “top choice” not only because she was the daughter of a president, but due to her track record. “Also her experience as a local government official in Davao, says it all,” further stated Lacson. But the President said his daughter would not run for any national position. Asked if the President should take action to discourage his daughter from ‘‘influencing’’ government matters, Lacson said he believed the President had
talked to her about this. “Because we know that the President knows that she can help in his governance,” said Lacson. He noted that any sensible thinking individual especially “if you are a leader,” knew the meddling of a family member would not help. Before heaping praises on the Davao mayor, the senator talked about her alleged role in the change of leadership in the House of Representatives. Mayor Duterte reportedly called some congressmen to secure support for newly installed House Speaker Gloria Macapagal Arroyo. He slammed the interference of the relatives of presidents in affairs which he said they had no business in. “Only because of what the Filipinos have experienced in the past administrations involving presidential relatives, we should reject any interference and influence peddling by somebody outside the official chain of the government bureaucracy, but who projects closeness to the President due to kinship,” Lacson said. “It doesn’t matter if it’s an Imelda Marcos, or a Peping Cojuangco or a Mike Arroyo, or any presidential relative. It is not about them. It is about undue intrusion in some major state affairs in which they have no business interfering,” he said.
Du30 vows shelter for business stake By Vito Barcelo PRESIDENT Rodrigo Duterte has assured the business community the government would protect their investments in the country, as long as they obeyed the laws of the land. The President made the assurance as he graced the 30th founding anniversary of Toyota Motor Philippines at the Grand Hyatt Hotel in Taguig City on Wednesday. “I send a message to the rest of the business community: This government will protect you and your investments and will ensure a level-playing field for you to thrive in as long as you obey the laws of the land and safeguard the welfare of your people and the general public,” Duterte said. He congratulated TMP for being one of the leading pioneers in the country’s automotive industry and thanked them for their contribution to the economy. “Toyota Motor Philippines is not only a leader in the production of quality vehicles. It is also a major driver of our economy, encouraging investments that spur national development,” he said. “It is also a key generator of employment, nurturing the skills and talents of over 55,000 employees,” he added. Duterte likewise noted that TMP had been the government’s steadfast partner in initiatives such as the Comprehensive Automotive Resurgence Strategy program that aims to attract more investments and implement regulations for the improvement of the automotive industy. TMP has invested a total P5.53 billion to bring in new inhouse and out-house manufacturing capabilities in the said program, according to the President. He then assured TMP of the administration’s full support as the company continues to bring the standards of the automotive industry of the country to greater heights.
BIR loses bid to collect P3-b Pacquiao tax deficit By Rey E. Requejo THE Court of Tax Appeals has ordered the Bureau of Internal Revenue to stop from collecting from world’s boxing icon and Senator Manny Pacquiao and wife Jinkee their alleged tax deficiencies amounting to P3.3 billion covering the years 2008 and 2009. In a July 27, 2018 resolution, the CTA’s First Division through Presiding Justice Roman del Rosario directed the BIR to cease and desist from collecting the tax deficiencies of the Pacquiao couple pending resolution of the ongoing civil case. “Respondent is hereby ordered to cease and desist from implementing the subject FDDA [Final Decision on Disputed Assessment] and from collecting the subject deficiency tax assessments issued against petitioners for taxable years 2008 and 2009 for lack of merit,” the appellate tax court ruled. The CTA also lifted the warrants of distraint and/or levy and garnishment on the disputed tax assessments pending the finality of the case. The appellate tax court stressed the BIR’s preliminary investigation failed to establish evidence that Pacquiao and his
wife committed fraud or tax evasion. Court records showed that in July 2013, then BIR commissioner Kim JacintoHenares issued a freeze order against the Pacquiaos’ earnings for their tax liability worth P2.26 billion, which ballooned to P3.3 billion arising from penalties and surcharges. A tax lien was also issued against the couple, which prevents a respondent from selling or disposing of his properties to protect the interest of the State on which the BIR aims to recover. The Pacquiaos appealed to the CTA to reduce the assailed tax deficiency and the surety bond of P4.9 billion, but the appellate tax court denied their motion for reconsideration, prompting them to elevate the issue before the Supreme Court. In a decision dated April 6, 2016, the SC issued a writ of preliminary injunction enjoining the CTA from requiring the Pacquiao couple to deposit P3.2billion cash bond or P4.9-billion surety bond as a condition to suspend the garnishment order against his assets that was issued due to his alleged failure to pay his tax obligations.
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1,828 cops dismissed, 4 face extortion raps By Francisco Tuyay and Rey Requejo
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TOTAL 1,828 policemen were dismissed from the service due to serious infractions to duty while 498 others were being investigated for drug-related cases, including 266 who tested positive for drugs and 232 involved in drug activity. The dismissal coincided with reports four police officers were now facing criminal charges before the Department of Justice for alleged involvement in extortion activities from junkshops in Valenzuela City. Accused of committing the crime of robbery-extortion in violation of Article
294 of the Revised Penal Code were Sr. Insp. Adonis Paul Gonzales Escamillan, commander of Police Community Precinct 8 of Valenzuela City, and his subordinates SPO4 Serafin Sarapdon Adante, PO1 Ryand Paul Estapia Antimaro, PO1 Rey Harvey Azadon Florano and civilian
Amado Baldong Jr. The case was filed on Wednesday before the DoJ where the respondents were subjected to inquest proceedings following their arrests. PNPchief Oscar Albayalde said the dismissal of 1,828 personnel were among the 6,401 errant lawmen meted out administrative penalties for various offenses since 2016 until the first semester of 2018. Albayalde said those discharged from the service committed penalties ranging from involvement in criminal activity, grave misconduct, serious neglect of duty, linked to criminal cases, serious irregularity, malversation, dishonesty, and graft and corruption.
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In defense of social justice cial justice and explicate its component principles, key among these— solidarity and subsidiarity. Not one FR. RANHILIO class alone, neither entrepreneur or CALLANGAN capitalist nor laborer or peasant had AQUINO an exclusive claim to profit. Neither alone was entitled to the fruits of deI FEEL the need to come to the defense velopment. And this train of thought of social justice—both against those reaches its acme in the Venerable Paul who discredit it and against those who VI’s Populorum Progressio where he have abused it. It is a concept that lies announces the principle that “developat the heart of Catholic social teach- ment is the new name of peace”—by ing, and I am not going to sit by, as a which, of course, he meant the develCatholic professor of law and of phi- opment of all. Now, to reject Populolosophy, as it is disparaged and regret- rum Progressio because one has sentably sometimes even cursed! timental attachments to the Tridentine When Marxist teaching was set- Liturgy and therefore has an aversion ting the world afire and catching the for the reform in Church life that Paul imagination of the workers of the VI took over from John XXIII is creworld, the Church perceived the threat tinous, to put it charitably! What arguto the faith, not ment might there only because of be against the its avowed atheinsight that peace ism but as imporis the fruit of that I am not going to tantly because of justice that conits skewed phi- sit by, as a Catholic sists in inclusive losophy of the huprogress? And professor of law and man person and why should “inits understanding of philosophy, as it clusive” be a bad of human society. is disparaged and word? Was it not Rerum Novarum regrettably sometimes the demolition, of Pope Leo XIII the deconstruceven cursed. faced the social tion, of so many situations for exclusions that which the comhas been key to munists audaour moral matuciously claimed they had the solution. ration as a race? It strongly defended the right to own, insisting that the goods of the earth, Very usefully, the social doctrine meant for the welfare of all, can of- of the Church has looked beyond the ten be optimally used best only when injustice that one unjust person does owned. Examples are not difficult to his victim into the social structures come by. But there was also that very —such as the unabated application of impressive argument that that portion the laws of succession—that “instituof nature on which the human person tionalize” injustice. And the State has expended his toil bore his imprint and been heedful. Law students are treated could not therefore, without doing him to a fare of “social legislation”, and injustice, be alienated from him. This this will include agrarian reform law, was alienation other than that which labor laws and standards, and more figured prominently in Marx’s persua- recently, indigenous people’s rights sion. This was an elementary articula- law, because in truth, all these laws tion of one of the fundamental princi- have to do with giving all a fair access ples of social justice: that any person to the resources of society as well as who labors has a claim to that portion distribute its burdens. Labor law, for of earth that is transformed into his one, transgresses established tenets handiwork. Rejecting the claim that of law and its myth of the “meeting to the proletariat belonged all that was of minds”, because when one hires gained, Leo XIII asked what good la- another, even if minds should indeed bor would be if there was no capital meet but the wage agreed upon falls upon which to expend it. Not labor below that which the law characterizes alone then, but capital likewise was as the minimum living wage, then lientitled to the gains of human toil. abilities will still arise, no matter the In succeeding pontificates, the supposed perfection of the contract. Turn to A5 Popes would refine the notion of so-
Adelle Chua, Editor
EDITORIAL
Seal of approval
PENSEES
T
WO international financial institutions have just given the Philippines a good housekeeping seal of approval. The separate endorsements from the International Monetary Fund and global debt watcher Moody’s Investors Service are a clear indication that the macro economic fundamentals of the Philippines remain solid despite the high inflation rate. The IMF last week kept its 2018 growth forecast for the Philippines at 6.7 percent, although it warned that rising inf lation and external developments such as the trade tension between bigger economies might threaten sustained expansion. IMF mission chief Luis Breuer noted that the Philippine economy was performing well. Real GDP [gross domestic product] grew 6.7 percent in 2017, with his team predicting that rate will be sustained in 2018 and 2019, “underpinned by strong consumption and investment, including public investment.” “The Philippines has been one of the region’s strong economic performers over the past years, reap-
ing the fruits of prudent policies and critical reforms. The team welcomes the authorities’ strategy of maintaining policy continuity while adapting to emerging challenges and taking advantage of the strong economy to implement reforms to improve inclusive growth and job creation. This strategy has served the Philippines well,” says Breuer. Moody’s shared the same observation. Strong GDP growth, it said, could accelerate even further, especially if the government achieved higher spending on infrastructure. It also expects further progress “on improving government revenue on the back of additional reforms and ongoing enhancements in tax administration, which would also help
keep government debt stable.” “The credit profile of the government of the Philippines [Baa2 stable] is supported by a large and fast-growing economy and continued gains in debt affordability, in part because of revenue reforms,” the rating agency added. The support from the two financial institutions validated the painful reforms the Philippines implemented in the past to keep the economy afloat. The expanded value-added tax during the term of former President Gloria Macapagal Arroyo and the business-friendly policies during the time of ex-President Benigno Aquino III cemented the gains of the economy. President Rodrigo Duterte’s Build, Build, Build program and the recent tax reform package that Congress passed are making the economy stronger. The government now faces the challenge of creating the trickledown effect to make the economic gains inclusive to the poor and the marginal sectors.
Rich ‘labandera’ against Napoles has been resolved. Napoles is presently held at the Bagong Diwa, Taguig detention center pending the trial of her case. Her petition to turn ALEJANDRO state witness has been denied by the court. DEL ROSARIO The fate of Janet Lim-Napoles should be a lesson to those whose appetite for JANET Lim-Napoles will probably money knows no bounds. While it’s make it to the Guinness Book of re- a virtue to take care of relatives by cords as the world’s wealthiest laundry spreading money around, you could woman. also be putting them at legal risk. For laundering ill-gotten money from Napoles’ daughter Jeane Christine the Philippines to the United States, though did her mother in by posing and pork barrel scam queen Janet Lim-Na- posting on Facebook a photo of herself poles has been indicted by a US court. inside her Porsche car and saying that “I Napoles, children Jo Christine, James had just bought out everything on Rodeo Christopher, Jeane Drive.” The place Catherine together is famous for its with brother Reyexpensive strip of naldo Lim and his stores in Los AnThe whole Napoles wife Anna Marie geles. She probcould face extra- family faces jail time ably didn’t realize dition to the US how expensive that for attempting to if convicted in the US. Facebook posting commit a conwas going to cost spiracy of money her mother and herlaundering which self. The whole Nais a serious offense poles family faces under US laws. jail time if convicted in the US. A US federal court said the respondIn another celebrated case involving ents used money from the Philippines to another woman named Janet, a 12th purchase real estate property, expensive complaint was filed against former cars, shares in businesses and transfer- Health secretary Janette Garin, execuring the rest of the money in other ac- tives of Sanofi Inc., the French manucounts to hide huge amounts of dollars facturer of the lethal anti-dengue vacremitted to US banks. The money was cine Dengvaxia, and its Philippine dissourced from the government’s Priority tributor Zuellig Pharma Inc. Development Assistance Fund. The complaint alleged that respondJustice Secretary Menardo Guevara ents failed to inform the Department of said his department has been working Health, the parents of the children who with US authorities and will continue died after taking the inoculation shots that to cooperate with their US counterparts the vaccine had dangerous side effects. in the extradition process once the case Turn to A5
BACK CHANNEL
George Ty’s Toyota is now 30 years in PH said it was his pleasure to join Toyota Motor Philippines in “celebrating your legacy of innovation that has set the foundation of a strong and growing automotive industry in the country.” “Over the past three decades,” the THE Philippines’ greatest car company chief executive added, “‘Toyota’ has bemarked its 30th year in the country, Wednesday, Aug. 1, 2018, at a glittering affair at posh Grand Hyatt, with no less than the president, Rodrigo Roa You cannot go wrong Duterte, as guest of honor and speaker, and the grandson of the Toyota founder, with a Toyota. Akio Toyoda, leading the guests. Toyota Motor Philippines is owned 51 percent by the family of taipan George come a household name on the road and Ty, and 49 percent by the Japanese. Playing presidential and reading reli- in the homes of many Filipino families. giously from a prepared speech, Duterte This speaks volumes about the impact
VIRTUAL REALITY TONY LOPEZ
of the [company] not only in moving goods and people, but also in charting the course of our country’s future.” “Toyota Motor [Philippines] is not only a leader in the production of quality vehicles. It is also a major driver of our economy, encouraging investments that spur national development. It is also a key generator of employment, nurturing the skills and talents of over 55,000 employees,” Duterte said. The President said TMP “has also been our government’s steadfast partner in many initiatives such as the Comprehensive Automotive Resurgence Strategy Program or CARS, which aims to attract more investments and implement regulations that will transform the Philippines Turn to A5
Rolando G. Estabillo Publisher ManilaStandard
Published Monday to Sunday by Philippine Manila Standard Publishing Inc. at 6/F Universal Re Building, 106 Paseo de Roxas, corner Perea St., Legaspi Village, Makati City. Telephone numbers 832-5554, 832-5556, 832-5558 (connecting all departments), (Editorial) 832-5554, (Advertising) 832-5550. P.O. Box 2933, Manila Central Post Office, Manila. Website: www. manilastandard.net
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Opinion
FRIDAY, AUGUST 3, 2018
An alternative to the war on drugs
Gatekeepers and PR practitioners By Honor Blanco Cabie MEDIA channels—broadcast and print, largely—often get press releases from companies with letterheads or those commissioned and written by public relations practitioners. Such releases—perhaps a company wants to announce it has a new product on the line or a political stalwart wants his or her quotes in sound bytes or carried in long paragraphs in print—can be subject to the mercy of an outside party, properly the gatekeeper of any newsroom. But while some PR practitioners have been in this game for years, decades even, the newsroom can still pick up some lessons from them and the press releases they send that may be shared with aspiring journalists and upcoming public relations experts. Technological advances notwithstanding, some experts in press-release handling suggest that the good, old-fashioned press release is still a staple in the PR practitioner’s victuals. PR practitioners and writers of press releases, whether they are from the corporate communications department or its equivalent, must remember certain basics to have the sound bite or the press release in print. Sounds easy? Not quite. 1. Make sure that you have the correct name of your addressee and the title held in the newsroom, otherwise your masterpiece can be a candidate for the old school journalism editor’s spike—a waste of your time including the possibility of losing the respect of your newsroom “contact.” 2. Do not write long press releases —a two-page single space material is already very long—since the editor has other materials on his or her plate while rushing to beat the deadline. An 800-1,000-word press release should be sufficient. 3. Remember that you are writing for a particular audience. In which case, the writing style can be adjusted or reangled as necessary—like a press release for a target audience of culinary
enthusiasts which should be different when writing one for those in the trucking industry. 4. You should not use slang that your group, and your group alone, can understand, the lingo that may not be a popular jargon, and the use of unpopular acronyms which may make the editor, the gatekeeper, irritated beyond his kindest self. In other words, be professional and grammatically proper at all times. 5. Don’t try to impress your addressee with long paragraphs that might invite for him a cardiologist in the middle of your paragraph. Keep your press release tight and concise, and don’t try to bombard your addressee with unnecessary dust. 6. Do not forget to include contact details in your releases since the editor, even if the editor is a friend, may want to ask some questions. There are
Bear these in mind.
of course impeccably written PR materials that go straight to the proofreader’s lap. 7. Don’t try to impress your addressee with a good headline which you think might be used. The honestto-goodness print editors have their own decks and page schedule to follow while the broadcast editors are more interested in the sound bites. 8. Double check your press release before you send them by whatever means. And if you are sending the same by email, don’t put all the names in the TO box with the names of all your contacts. You would be insulting your addressee who might have the thought that you are sending the same material to x number of persons. Make your addressee feel special. In other words, hide the recipients list. 9. When using email, don’t send attachments unless you are so required.
Many editors fear attachments carry viruses. Cut and paste from the Word document or other file into the body of the email, using of course the same font. Experts say if it is something graphically intensive, then you must put it on a website and provide a link. 10. When using quotes, don’t make them like they have the distance between Basco and Bongao. Remove the verbal deadwood and the excess periphrasis. 11. Don’t antagonize your addressee and then follow through if he or she has received your email or press release with your letterhead. 12. You must format in plain text. A company logo or other graphics in the email body—including names of all the officers at times on the left side, which space in fact is very unnecessary—can make the email or even the PR sent through a special messenger pretty unwieldy. 13. The bottom line is that PR experts who break email etiquette rules or plain hard mail etiquette may be discerned as unprofessional and/or lazy. Conversely, those who follow the rules in form have greater chances to secure print space or broadcast airtime and maintain a longlasting professional respect. 14. There are, of course, PR practitioners who blend press releases with envelopes shoved straight into the drawers of their respective addressees —as though none has naughty eyes. A note of caution here: Not all addressees have forgiving capacity for such PR cheekiness. These are by no means the only boulevard lanes to have a press release aired or printed. Like a news story, perhaps these will constitute for print the lead paragraph. Or for broadcast the important lead-in. HBC, an academic and practitioner, is author of journalism textbooks including The Active Newsroom (National Bookstore, 1985), The 6th W (Armiandy Publishers, 1974), and Reporting for Different Times Zones (Armiandy Publishers, 1978).
George... From A4
into an automotive manufacturing hub.” Duterte promised TMP and Philippine business “this government will protect you and your investments and will ensure a level-playing field for you to thrive in as long as you obey the laws of the land and safeguard the welfare of your people and general public.” TMP president Satoru Suzuki expressed gratitude to the government, suppliers, dealers, business partners, and customers who have been and remain to be strong allies and supporters of Toyota. “I firmly believe that the partnership we have developed and harnessed remains to be the strong backbone of Toyota’s success in the Philippines,” Suzuki said. For 16 consecutive years, TMP has kept its Triple Crown—for being No. 1 in passenger car sales, No. 1 in commercial vehicle sales, and No. 1 in overall sales. Toyota has 38 percent of the local auto market. In 2017, TMP sold over 180,000 units, four times greater than its volume 10 years ago. This significant growth has driven TMP to be at the Top 9 in terms of vehicle sales among Toyota global affiliates, and Top 4 in Asean—an important region in the global automotive scene. This 2018, TMP projects sales of 175,000 to 180,000 units. Driving forward, Toyota, said TMP vice chairman Alfred V. Ty has never been more dedicated to serve its stakeholders in making ‘always better cars and always better lives’.
“TMP shall not only be a car manufacturer and distributor of quality and reliable vehicles, but, likewise, diversify into a mobility provider, combining efforts with our sister institutions and developing new strategic partnerships,” the dapper and good-looking young Ty said. Ty said Toyota will continue to evolve in the coming years, especially in addressing the customers’ various needs for cleaner and greener vehicles, mobility, and automotive technology. Its target is zero emissions with the use of more environmentfriendly vehicles. Ty talked about the shift in preference from ownership to ride-hailing and how Toyota is ready to take on a synergistic approach to long-term car-leasing and a modified ridesharing business in collaboration with ride-hailing companies. With this vision, Japan’s Toyota Motor Corp. president Akio Toyoda affirmed Ty of Toyota’s support as the latter leads TMP in realizing the future of mobility in the Philippines. Toyoda expressed his gratitude to the government and the Filipino people. “I would like to reserve my most sitncere and deepest thanks for all the people of the Philippines. You warmly accepted us into your homes. I look forward to working more closely with all of you to help build a truly strong, and smiling Philippine nation,” said Toyoda. To signify its stronger commitment
to local manufacturing, TMP donated 30 locally produced vehicles to the government—20 units of the All New Vios and 10 units of Innova—symbolizing 30 years of committed passion and service to the Philippine nation. Moreover, an additional 3 Hiace units was also committed. The Hiace is testament to the vehicle’s reliability as a people-mover, making it a popular choice in the UV market. President Duterte received the Toyota vehicles on behalf of the government. TMP’s partnership with the government is further strengthened by the company’s participation in the Comprehensive Automotive Resurgence Strategy (CARS) Program, where Toyota has invested a total of P5.53 billion to bring in new in-house and out-house manufacturing capabilities. Its participating model, the All New Vios, is boosted by a more localized body shell and large plastic parts produced under new technologies and with new manpower skills. Personally, over the past 50 years, I have bought only six vehicle brands— Volkswagen, Honda, Nissan, BMW, Land Rover, and Toyota. Toyota remains No. 1 to me, in consistency of quality of its vehicles, consistency of quality of its service, and reasonableness of pricing its cars and parts. When in doubt, you cannot go wrong with a Toyota. Congratulations, Toyota.
for selfish interests including shelving next year’s midterm elections. If the polls are postponed or scrapped, incumbent officials will automatically extend their term sparing them from spending campaign money. This would also deprive voters the opportunity to replace corrupt and nonperforming legislators. The Senate is against joint voting because the votes of 292 congressmen would overwhelm the votes of the 24 senators. But of course. The people must oppose ConAss, joint voting and the scrapping of the 2019 elections. They must let the congressmen know that the taxpayers won’t allow being conned by public officials at the expense of voters.
We hope GMA does not let House members who installed her as Speaker convene themselves into a Constituent Assembly. That would be a betrayal of public trust and a blot to her name. Meanwhile in a related development, President Duterte said his daughter Davao Mayor Sara Duterte is not running for Congress in next year’s polls. But then even dad Digong knows Inday Sara has her own mind and she might still seek a House seat. There is, after all, a bigger game than just being Davao mayor. Her own father proved this by ascending to the presidency—the first mayor and local official to do so.
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Rich... From A4
‘Con us’ House Speaker Gloria Macapagal Arroyo said she is open to separate voting by the House and the Senate on the issue of Charter change. “It is better to move forward and achieve something than be stubborn and do nothing,” said the House Speaker. It was the insistence of former Speaker Pantaleon Alvarez on joint voting by the upper and lower chambers that stalemated the issue of changing the 1987 Constitution. Another contentious issue was Alvarez’s proposal to convene Congress into a Constituent Assembly. ConAss is opposed by the citizenry who suspect the congressmen are only pushing
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Today, Portugal boasts one of the lowest drug-usage rates in all of Europe. People are leaving the drug market and seeking treatment. The number ERIC of individuals registered in rehab has JURADO risen from 6,000 in 1999 to more than 24,000 in 2008. The number of heroin THE war on drugs will continue and users who inject the drug has decreased will be “relentless and chilling,” Presi- from 45 percent to 17 percent. Injection dent Duterte declared last July 23 dur- rates are particularly important when ing his third State of the Nation Ad- discussing drug-related disease. Drug dress, as he swept aside concerns over addicts now account for only 20 percent of HIV cases in the country, a signifihuman rights. “If you think that I can be dissuaded cant improvement from the previous 56 from continuing this fight because of percent. These results can be explained with demonstrations… then you got it all wrong,” Duterte said, addressing critics basic economics. As people get help for their drug use, the number of users— of his bloody campaign. “Your concern is human rights; mine that is, the demand for drugs—falls. When the demand falls, drug suppliers is human lives.” Duterte, who rose to power on the find that their once lucrative enterprise promise to end the illegal drug trade, no longer bears fruit. So they exit the said his commitment has not wavered, market. This would explain why a 2010 study but has grown stronger. “The war against illegal drugs is far in the British Journal of Criminology from over. Where before, the war re- found that, after decriminalization, Porsulted in the seizure of illegal drugs tugal saw a significant reduction in the worth millions of pesos, today, they run imprisonment of alleged drug dealers, [into] billions in peso value,” Duterte from 14,000 in 2000 to 5,000 in 2010. said. “I can only shudder at the harm In fact, the proportion of people in jail that those drugs could have caused had for crimes committed while under the they reached the streets of every prov- influence of drugs, or to feed a drug ince, city, municipality, barangay, and habit, fell from 41 percent in 1999 to 21 percent in 2008. community throughout the country.” By redirecting For more than resources previ100 years, the ously allocated United States and to arresting and many other counjailing drug ustries have looked Radical policies ers, Portugal has to prohibition to not only curbed curtail the use of may be perfectly its drug problem drugs. Proponents reasonable. but has created a argue that by makhealthier society. ing substances like When asked what marijuana, cothe global comcaine, and heroin illegal, government can significantly re- munity should take away from Portuduce drug-related crime, prevent addic- gal’s policy, Alex Steven, president of tion, and stop the spread of drug-related the International Society of the Study of Drug Policy, said, “The main lesdisease. The results have been less than im- son to learn [is that] decriminalizing pressive. In fact, Michael Botticelli, drugs doesn’t necessarily lead to disthe former director of the White House aster, and it does free up resources Office of National Drug Control Pol- for more effective responses to drugicy during the Obama administration, related problems.” There is something to learn from said the war on drugs has consisted of treating drug use as a physical and “failed policies and failed practices.” There are, fortunately, alternatives mental illness. Consider the results of and policies that consider both human the Portuguese policy versus the US rights and human lives: decriminaliza- and Philippine approaches. While Portion of drugs—relaxed enforcement tugal’s rates of use, incarceration, and and penalties for drug offenses—and illness have all fallen, drug use in the US has remained relatively unchanged outright legalization of all drugs. for the past decade. Each year, 1.5 milYes, all of them. These options may sound counterpro- lion people are arrested on drug-related ductive, but the data from a particular charges, 80 percent for mere possescountry tell a different story. In 2001, sion. Half of all federal incarcerations Portugal shocked the world and voted are drug-related. Data from the Philippine National to decriminalize all drugs in response to Police from July 1, 2016 to June 30, a growing heroin problem. Things like drug trafficking remain 2018 showed that the number of deaths illegal, but drug users are viewed as ill in Duterte’s campaign against illegal rather than criminal. Instead of imme- drugs stood at 4,450 deaths. These were diate arrest and incarceration, people all drug suspects who were supposcaught with less than a 10-day supply edly shot dead when they fought back of hard drugs are taken before a spe- against the police. PNP statistics also cial court of legal experts, psycholo- list 149,265 people arrested, and 1.2 gists, and social workers. The goal is million who surrendered. Few would argue that drug use isn’t a health-focused solution to drug use, with an occasional small fine or com- a problem. Without a doubt, drug use presents problems for public health and munity service. Fifteen years later, plentiful data tell destroys many lives. But when examina drastically different story from what ing the efficacy of drug policies, the US many predicted. Drug use among 15- to and Philippine models are nothing short 24-year-olds has decreased dramatically of complete failures. It’s time to look and drug-induced deaths dropped from at alternatives. As the Portuguese case 80 in 2001 to 16 in 2012. Before 2001, illustrates, so-called “radical” policies Portugal confined around 100,000 drug may be perfectly reasonable. users. Within the first 10 years of the eric.jurado@gmail.com policy’s adoption, this number halved. FROM WHERE I STAND
In defense... From A4
Traditional commutative justice is not enough. You need a new title for this other aspect of justice—and “social justice” is a felicitous choice. In St. John Paul II we have the boldest pronouncement yet that as between capital and labor, labor has priority—a principle he upholds on the basis of theological anthropology: that the human person is homo laborans, a being who must work not only to eat, but to be himself. Personhood unfolds itself in human labor, and this is the reason that there is such a thing, recognized by the “Covenant on Social and Economic Rights” as the “right to work.” Rawls “theory of justice” is a theory of social justice. Studious at avoiding unwarranted assumptions, Rawls hypothetically takes himself—and his readers—back to an “original position”, in which one is blind to one’s own preferences, inclinations, idiosyncrasies and bases. From behind this “veil of ignorance”, what would reasonable persons choose to be the
principles by which society is to be organized? The principles are, by now, well known—the first, being non-negotiably first: that all be afforded as wide a range of liberties compatible with a like swath for all. It is the second that is particularly attentive to social justice: whatever disparate treatment there might be will be tolerable only in the measure that they are to the advantage of the least advantaged. But of the lexical order between the two principles, Rawls is understandably inf lexible. It was not social justice that the Kadamay house-grab embodied. That was downright criminal—usurpation of real property. Homelessness is not necessarily entitlement to a home, just as landlessness is not necessarily entitlement to land. What makes social justice distinctive and truly just is the erasure of concepts as well as dismantling of institutions that systematically exclude certain sectors, groups, classes or strata from sharing in the wealth and promise of society and of earth.
News
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FRIDAY, AUGUST 3, 2018 mst.daydesk@gmail.com
BoC seizes two imported Porsche worth P28 million By Vito Barcelo and Joel E. Zurbano
POWER CHAT. President Rodrigo Roa Duterte chats with Executive Secretary Salvador Medialdea on the sidelines of the 30th anniversary celebration of Toyota Motor Philippines Corp. at the Grand Hyatt Hotel Manila in Bonifacio Global City, Taguig City on Aug. 1, 2018. Also in photo are Secretary Bong Go of the Office of the Special Assistant to the President and Toyota Motor Corp. president Akio Toyoda. Presidential Photo
Uson willing to speak before Senate on federalism By Nat Mariano PRESIDENTIAL Communications Operations Office Assistant Secretary Margaux “Mocha” Uson said Thursday she is willing to accept Senator Nancy Binay's invitation as a resource speaker on federalism upon the advice of the consultative committee. “I express my gratitude to Sen. Nancy for considering me as a resource person/speaker [in the Senate],” said Uson, adding that she will still have to deliberate the matter with Con-Com spokesman Ding Generoso. “I cannot say anything yet as we will still have a brainstorming [activity] with Con-Com spokesperson Ding Generoso,” she said. She added that her appearance before the senators as a resource speaker on federalism also depends on the result of the brainstorming on Friday. “Let us see and wait for the advice of the Con-Com,” Uson said. Binay’s extended the invitation to Uson after the Con-Com, which tasked by President Rodrigo Duterte to review the 1987 Constitution, said it would likely tap Uson to be at the forefront of a nationwide information drive on federalism and Charter change. Binay said Wednesday she would recommend to Senator Francis Pangilinan, chairman of the committee on constitutional amendments, to request the presence of Uson as one of the resource speakers in the subsequent hearings on Charter change. “Being the designated messenger, we also wanted to hear how she would articulate or interpret the salient points of the proposed federal charter and explain to the people how a shift in the form of government could move the country forward,” Binay said. Binay said it is imperative for Uson to relay the message clearly to the people. “Clarity and knowledge about the subject are equally important elements. It is also a matter of providing the people of options or an informed choice for them to genuinely know what’s good and bad about changing the form of government,” Binay said.
Gov’t offers more than 450k jobs in construction sector By Vito Barcelo
M
ORE than 450,000 new jobs in the construction sector were created and expected to increase as the government fast-tracks the implementation of mega projects under the Build, Build, Build program of the Duterte administration, the Department of Labor and Employment said. Labor Secretary Silvestre Bello III said at least 468,000 jobs were generated in the construction sector based on a Labor Force Survey conducted by the Philippine Statistics Authority in April 2018. The infrastructure projects under the government's Build Build Build program, which will cost P8-P9 trillion from 2017 to 2022, would likely create two-million more construction jobs, Bello said in citing the report of the Department of Trade and Industry. He said the government’s massive infrastructure program, Build Build Build,
is expected to generate an average of 1.1-million jobs annually in the medium term, owing to the government’s hefty spending on infrastructure development projects. “We are elated with the strong performance of the construction sector. In April 2018, total employment in the sector reached 4.012 million from 3.544 million during the same period in 2017. This is a 13.2-percent increase,” Bello said. "Construction is the largest contributor to employment among the industry subsectors during the period
A FORMER lawyer of Japanese gaming tycoon Kazuo Okada is facing disbarment charges for allegedly abandoning and betraying him. Okada’s lawyer Rean Balisi revealed that a complaint for disbarment was set to be filed against lawyer Joemer Perez, his former legal counsel in his firm Tiger Resorts Leisure and Entertainment Inc. Two associates of Perez would be included in the complaint, Balisi said in a statement. The Japanese billionaire, who was ousted as director and chairman of TRLEI that operated Okada Manila, would ask the Supreme Court to discipline the three lawyers for conflict of interest and betrayal of trust and confidence. According to Balisi, Okada alleged in
and we believe the Build Build Build infrastructure program is the main driver of growth,” Bello added. Meanwhile, Public Works Secretary Mark Villar said that the “Build Build Build is gaining momentum at an unprecedented rate,” noting that more jobs were generated during the first two years of the Duterte administration compared to five years prior. “In the first quarter of 2018, the Gross Value Added in Construction is at 9.3 percent,” he added. “Build Build Build is Jobs Jobs Jobs. This is providing life to our nation. Unemployment has already decreased to 5.5 percent from 5.7 percent, year-onyear. We expect this figure to shrink further,” he said. On Aug. 12, the Build Build Build team will launch Jobs Jobs Jobs at the SMX Convention Center from 8:30 am. to 4:30 pm.
Ongpin gets reprieve from SEC
CRIME SCENE. Scene of the Crime Operatives personnel inspect the SUV Mitsubishi Adventure with plate number PJQ 551 riddled with bullets after an ambush that killed BJMP jail officer George Delfin (seated at the drivers seat), in Taguig along Sagrada Familia Street in Sta. Ana Manila on Thursday morning. Norman Cruz
Okada’s former lawyer faces disbarment case By Rey E. Requejo
THE Bureau of Customs seized a Porsche Boxter S 4S and a Porsche Panamera 4S with a combined worth of P28 million at the Ninoy Aquino International Airport in Pasay City, which were reportedly imported for educational and training purposes. The Porsche Boxter S, which is worth P10 million and the Porsche Panamera 4S, which is worth P18 million, arrived in the country via Malaysia Airlines on Aug. 5, 2017. Bureau of Customs—Ninoy Aquino International Airport collector Carmelita Talusan said the two expensive secondhand cars were abandoned at the Miascor warehouse near the Naia Since Aug. 5, prompting her office to issue a Warrant of Seizure and Detention. Based on the import documents, the cars were intended to be used for training purposes. But Talusan, quoting the Import Regulations Division of Department of Trade and Industry, said the import consignee violated Executive Order No. 156 which prohibits the importation of used motor vehicles. Meanwhile, Customs Commissioner Isidro Lapeña said the consignee has no authority to import used motor vehicles which are still required even if the inten-
the disbarment complaint they prepared during the tycoon's recent visit in Manila that Perez and company violated the Code of Professional Responsibility for lawyers. Perez and his associates used to represent Okada in several cases when the Japanese mogul was still TRLEI chairman. During their meetings, Okada entrusted Perez with confidential information about his business interests in the Philippines. Okada later hired Perez to join TRLEI. However, when the businessman was ousted from his post by executives of TRLEI, Perez shifted his loyalty to Okada’s rivals and now even handles the criminal cases filed against his former boss. Okada said that Perez and his associates should be administratively penalized by the SC for betraying him and
for handling the cases against him—in an apparent case of conflict of interest. No further details on the disbarment case were divulged as the Integrated Bar of the Philippines commission on Bar discipline has a strict confidentiality rule about divulging details about disbarment cases. Recently, a top executive of TRLEI was slapped with criminal charges filed by a manufacturing firm before the Parañaque City prosecutor’s office. Aruze Philippines Manufacturing Inc., through its president Tetsuya Yokota, has recently filed perjury charges against TRLEI chief executive advisor Dindo Espeleta over the latter’s “false and malicious” accusations in the estafa case involving the supply of LED strip lights worth $4.5 million for the façade of casino-resort Okada Manila that was already dismissed by prosecutors.
THE Court of Appeals has sustained its earlier decision that exonerated businessman Roberto Ongpin of 174 counts of insider trading involving Philex Mining Corp. shares back in 2009. In a five-page resolution, the CA’s Special Thirteenth Division through Associate Justice Ma. Luisa Quijano-Padilla denied the motion for reconsideration filed by the Enforcement and Investor Protection Department of the Securities and Exchange Commission of its Dec. 1, 2017 decision which reversed and set aside the agency’s decision issued on July 8, 2016 finding Ongpin liable for insider trading. The appellate court junked the arguments of SEC that its findings that Ongpin committed insider trading were supported by substantial evidence. According to the SEC, being a quasijudicial body, its findings should be conclusive and binding upon the court. The commission also claimed that all the elements of insider trading were established during its investigation, thus, Ongpin was properly meted out the penalty of P174 million fine for 174 counts of insider trading. Instead, the appellate court sided with Ongpin’s contention that only “findings of fact” of quasi-judicial agencies are binding upon the court as stated in Section 10, Rule 43 of the Rules of Court. “This Court is therefore not bound by the legal conclusions of the former owing to the inherent duty of courts of law to determine legal issues and settle actual controversies,” the CA ruled. The appellate court noted that the other arguments raised by SEC in its MR “are mere rehash” of those that have already been discussed and resolved in its Dec. 1, 2017 decision. “This Court is therefore not convinced that a modification of our ruling is warranted,” In its July 2016 decision, the SEC barred Ongpin, a former trade minister under the late dictator Ferdinand Marcos, from becoming part of the board of any Philippine Stock Exchange-listed firm. Rey Requejo
tion is for training purpose of any school. “Only special purpose vehicles can have exemptions like fire trucks, ambulances, funeral hearses, crane lorries, boom trucks, tanker trucks, reefers, street sweepers, mixers, garbage compactors and special purpose trucks/vehicles,” he said. Lapeña said the luxury cars would undergo forfeiture proceedings and would be later be subjected to destruction. Customs duty and taxes for each luxury cars—Porsche S is P4,965, 561, while Panamera 4S, 7,512,477. The consignee can file a letter for request for redemption, but subject for approval, Customs officials said. The bureau is enforcing Executive Order 156, issued in 2002 by then President Arroyo, which prohibit the importation of used cars except light trucks, buses and special-purpose vehicles. Most second-hand vehicles are righthand drive, which are then converted to left-hand by the buyers. Imported second-hand vehicles have been phased out in the country of origin after a programmed service life and manufacturers no longer produce replacement parts. “The seizure was the result of the strong leadership of Commissioner Isidro S. Lapeña and his directive to the ports to look carefully into revenue leakages and to ensure compliance with the agency’s rules and regulations,” Talusan said.
IN BRIEF CEB issues advisory on Aug. 4-6 flights THE Cebu Pacific Air management on Thursday urged air travelers with flights to and from Cebu on Aug. 4, 5 and 6 to adjust their schedules and anticipate heavy traffic on these dates. The airline made the advisory in connection with the road closures for the Ironman 70.3, Iron Girl and Iron Kids triathlon event that will be held in Mactan, Cebu. Motorists going to the Mactan-Cebu International Airport are advised to take the Sangi Motumbo Road, or if possible, go through the Benito Ebuen Airbase. We urge passengers to plan their routes and make adjustments to get to the airport on time. Passengers may also opt to check in for their flights via www.cebupacificair.com or through the Cebu Pacific mobile app. Check-in will still close 45 minutes before the scheduled departure time of the flight. Guests on international flights are encouraged to check-in at least two hours before the flight for checking of travel documents, immigration and security screening. Joel Zurbano
‘Govt workers to get primary care benefits’ THE Department of Budget and Management said government employees will continue to receive free Primary Care Benefit in 2019. The agency said over P608 million has been allocated in the 2019 National Budget to cover the adjustment in employers’ share in PhilHealth contributions and extension of primary care benefits to government employees. This is on top of the P883 million earmarked in 2018 for the same purpose. The funding for both years forms part of the allotment for the Payment of Personnel Benefits, lodged under the special provisions of the Miscellaneous Personnel Benefit Fund. The Payment of Personnel Benefits is used for deficiencies in authorized salaries, bonuses, allowances, associated premiums and other benefits of National Government personnel, including Personnel Services requirements. This would allow for the continuous provision of free primary care benefits to government employees under the Primary Care Benefit program, which started this year. The benefit design of the PCB program includes basic services and laboratory services for Urinary Tract Infection, acute gastroenteritis, lower and upper respiratory tract infection, and asthma. Drugs and medicines for these conditions are also included in the package.
Binondo-Intramuros bridge gets backing DUE to their huge positive impact on economic and social development, uplifting the quality of life in our metropolis and the goal of helping ease traffic congestion, the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. said it supports the new projects of the Philippines and China to construct the Binondo-Intramuros Bridge in Manila and the Estrella-Pantaleon Bridge connecting the cities of Mandaluyong and Makati. “We support the Binondo-Intramuros Bridge project, since it shall contribute to Manila’s urban renewal. It shall enhance our capital city’s tourism and cultural attractions, by making pedestrian and transport access to these two most historic districts much easier, more efficient,” the FFCCCII said in a statement. We have full confidence in our Philippine government’s proper heritage, environmental, engineering, socio-economic and archaeological impact evaluations behind these bridge projects, it added.
Sports
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FRIDAY, AUGUST 3, 2018 sports_mstandard@yahoo.com
Lady Blazers foil Red Spikers in 4 S
Paratriathlon in Asean meet
T. BENILDE recovered from an opening set defeat then fought off San Beda’s tenacious stand late in the fourth to carve out a 21-25, 26-24, 25-8, 25-23 victory and charge back into contention in the Premier Volleyball League Season 2 Collegiate Conference at the Filoil Flying V Center in San Juan yesterday.
PARATRIATHLON has been confirmed as an event included in the ASEAN Para Games set January 2020 after its inclusion in the 2019 SEA Games. This was bared by Triathlon Association of the Philippines and South East Asian Triathlon Association President Tom Carrasco Jr., who lobbied actively for the sport’s inclusion. The Para Games will even be preceded by another major international event, the Asian Paratriathlon Championship set this August in Legaspi, Albay, organized by the Philippine Paratriathlon Committee, headed by its chairman Lito Cinco. “The Asian Paratriathlon Championship is a good prelude to the ASEAN Para Games as it gives our local paratriathletes a chance to compete at an even higher level of competition. We will be fielding at least three paratriathletes, the Nelmida blind twins, Joshua and Jerome, both veterans of previous paratriathlon and triathlon races here, and Cebuano Alex Silverio, who lost his left arm in a motorbike accident when he was younger,” said Cinco. Twenty-five entries from five countries are joining, namely Japan, which has the biggest delegation, Korea, China, Kyrgyzstan, and host Philippines. The event is set on Aug. 10 prior to the Mt. Mayon ASTC Triathlon Asian Cup, hosted by Legaspi City Mayor Noel Rosal. But a bigger challenge for PPTC was raising the necessary funds for the training and the participation of its paratriathletes in the Asian Championship.
The Lady Blazers nearly squandered a 22-16 lead in the fourth as the Lady Red Spikers scored on a couple of hits and kill blocks to threaten at 23-24. But St. Benilde, which lost to FEU in five and dropped a four-setter to Adamson, quashed its rival’s last-ditch bid on a Diane Ventura kill off a quick set. “We are still learning on closing out a game. We still have a lot of work to do, especially me,” said Jerry Yee, who moved from UP to handle the Taftbased school priming up for the NCAA wars.
Yee drew 16 points from Marites Pablo while Klarisa Abriam backed her up with 15 hits. San Beda, which sorely missed the services of ace hitter and skipper Cesca Racraquin, who sat out for the second straight game due to a left ankle sprain she sustained during the team’s training last Tuesday, dropped to 0-3. Still, the Lady Red Spikers surprised the Blazers with a strong opening set performance and barely dropped the extended second set. Nieza Viray scored a game-high 19
St. Joseph blasts St. Michael, 88-54 baskets from John Romero and Renato Adriano allowed the Taurus to move out of range when the fourth quarter came around, 67-39. Dale Pimentel topcored for 18 points for FCPS when they trounced San BedaTaytay, 96-68, to earn their second consecutive triumph with Blue Dragons, while La Consolacion College turned back Paco Catholic Academy Foundation, 63-61. John Urmeneta tallied 18 points for the Blue Dragons in their 104-56 smashing of Rich Golden School Montessori. In the senior division, the National University-B Bulldogs prevailed over the Mapua University Cardinals, 93-89, to claim their first win in two games. La Consolacion College tripped the Letran Knights, 97-70, in another collegiate encounter.
Seniors’ golf 5th leg draws big field THE Federation of Philippine Amateur Senior Golfers, Inc. holds its fifth leg on Aug. 15 with another huge field expected to dispute top honors in various divisions at the Orchard Golf and Country Club’s Palmer Course in Dasmariñas, Cavite. Organizers said around 180 players have confirmed participation in the 18-hole event dubbed the August Fore! 5th leg-2018 FPASGI seniors golf tournament and hosted by the Orchard senior golfers. Big prizes, including those in the raffle draw, will be up for grabs during awards rites in the tournament also held as birthday tournament for FPASGI president Melito Salazar, who is also the president of Orchard Seniors Golf. The shotgun start tee-off is set at 8 a.m.
attack points while China Tannagan added 12 markers for the Lady Red Spikers. St. Benilde thus seized solo fifth at 1-2, just behind UP, which has a 1-0 card, and Adamson, who totes a 2-0 slate. FEU and UST pace the single round elims of the mid-season conference of the league organized by Sports Vision and backed by Mikasa and Asics, with 3-0 marks. The top four teams will advance to the crossover semis with the winners disputing the crown in a best-of-three affair.
National paratriathlon team members Jerome and Joshua Nelmida, born blind, paid F2 Logistics President Efren Uy a visit to express their thanks for the help extended by the company to ensure the participation of the national paratriathlon team in the Mt. Mayon ASTC Paratriathlon Asian Championships. With them are national paratriathlon coach Anthony Lozada, guides Teddy Diaz and Bernard Cruz, Annette Nelmida and Philippine Paratriathlon Committee Chairman Lito Cinco. Uy is joined by wife Carmela Uy and son Earvin Uy.
COMBAT SPORTS HONOREES. Universal Reality Combat Championship, headed by founding president Alvin Aguilar (second from right), cited top celebrity sports figures for their contributions in the field of combat sports, led by Sen. Juan Miguel Zubiri (arnis), Makati Rep. Monsour del Rosario (taekwondo) and Ormoc City Mayor Richard Gomez (fencing) during the recent URCC Hall of Fame Awards Night at the Samsung Hall of SM Aura. In photo are special guests International MMA sensation Frank Shamrock (far right) and International and MMA top brass Kerrith Brown Sr. (second from left).
ALDRIN Catiis provided the needed firepower for the St. Joseph College of Bulacan Taurus, who blasted St. Michael College of Laguna, 88-54, over the weekend in the 16th Fr. Martin Cup Division 2 basketball tournament. This allowed the Taurus to remain unbeaten after three matches, and move a game ahead of First City Providential School of Bulacan, and the Chiang Kai Shek Blue Dragons when action ended at the St. Placid gymnasium inside San Beda-Manila campus in Mendiola. Catiis shot 15 points, including three big triples in the third period, to help the Taurus post their third straight win in the junior division games at the St. Placid gymnasium inside San Beda-Manila campus in Mendiola. The 5’9” Catiis’ treys, along with
Games Sunday
9 a.m. – Adamson vs Perpetual Help (men’s) 11 a.m. – UST vs St. Benilde (men’s) 2 p.m. – UST vs UP (women’s) 4 p.m. – FEU vs Adamson (women’s)
LOTTO RESULTS
6/49 00-00-00-00-00-00 P0.0 M+ 6/42 00-00-00-00-00-00 P0.0 M+ 6 DIGITS 00-00-00-00-00-00 3 DIGITS 00-00-00 2 EZ2 00-00
Regent Aguila, Ironman 70.3 ink 5-year pact REGENT Aguila and Ironman 70.3 Asia Pacific Championship, through its producer and organizer Sunrise Events Inc., have forged a long-time partnership, ensuring an uninterrupted staging of the premier endurance race that features the world’s leading and rising triathletes the next five years in the sport’s home in Cebu. With its first sponsorship of Ironman 70.3 Asia Pacific Championship already surpassing the event’s past hosting in terms of participation and depth of the field, the two sides have agreed to stage the event until 2022, boosting Phl triathlon in general and the Filipino triathletes in particular. The first Regent Aguila Ironman 70.3 Asia-Pacific Championship unwraps Sunday (Aug. 5) at the Shangri-La Mactan Resort and Spa in Lapu Lapu City with a record cast of 2,7000 from over 51 countries all set to dispute top honors in various divisions in the challenging 1.9km swim-90km bike-21.2km run event offering a total prize fund of $75,000. “This is the Crown Jewel of Asia—so expect a gold level and race organization,” said SEI general manager Princess Galura. “Cebu has also won the most spectator friendly race in the world this year so it will be an experience, not only for this inaugural Regent Aguila Ironman 70.3 but all the way to 2022.” To ensure a star-studded cast, SEI has assembled a slew of reigning and former world champions plus a horde of upcoming stars ready to topple the current best in the fold. They include three-time champion Tim Reed, former three-time world champion Craig Alexander, former XTERRA world champion and first Ironman 70.3 Davao titlist Mauricio Mendez, and former Ironman As-Pac winners Tim Van Berkel, Josh Amberger and Braden Currie along with former Ironman South American winner Brent McMahon.
Sports
Riera U. Mallari, Editor Reuel Vidal, Assistant Editor sports@thestandard.com.ph sports_mstandard@yahoo.com
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Cebu City welcomes Ironman bets By Reuel Vidal CEBU CITY—The island province of Cebu rolled out the red carpet on Thursday to welcome local and international participants and guests from 52 countries for the 2018 Regent Aguila IRONMAN 70.3 Asia-Pacific Championship. Sunrise Events continues its yearlong tenth anniversary celebration with the holding of the race which drew a record field of 2,700 participants. Sunrise Events Founder Wilfred Steven Uytengsu said the government and the private sector are working together to guarantee its success. “Together with the LGUs and government agencies concerned, we will continue our efforts in making the Regent Aguila IRONMAN 70.3 Asia Pacific Championship a rousing success and reinforce this event as the Crown Jewel of Asia,” said Uytengsu. The race will feature the most starstudded cast to ever participate in an IRONMAN 70.3 race in the country. The female participants include Radka Kahlefeldt (winner of this year’s IRONMAN 70.3 Davao and last year’s Subic IRONMAN 70.3), four-time IRONMAN 70.3 Philippines champion Caroline Steffen, 2016 IRONMAN Busan winner Amelia Watkinson and former IRONMAN Australia titlist Beth McKenzie. The male cast is equally deep with 2016 world champion Tim Reed, three-time world titlist Craig Alexander and former XTERRA world champion and this year’s IRONMAN 70.3 Davao winner Mauricio Mendez, former IRONMAN Asia-Pacific winners Tim Van Berkel, Josh Amberger and Braden Currie along with former IRONMAN South America winner Brent McMahon. Sunrise Events was established in 2008 by Uytengsu after it was granted the IRONMAN 70.3 license by the World Triathlon Corporation. The vision of the company is to stage world-class events to put the Philippines in the sports tourism map of the world. Sunrise Events stages at least 13 events per year and has exclusive rights to the IRONMAN 70.3, 5150, XTERRA and IRONKIDS events.
Ginebra’s Justin Brownlee is fouled by SMB’s June Mar Fajardo in Game 3 of the PBA Commissioner’s Cup won by the Beermen, 132-94.
Beermen shoot for 3-1 lead By Jeric Lopez
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AN San Miguel Beer put Barangay Ginebra on the ropes? It certainly hopes to do so as it looks to close in on yet another crack at a championship when it goes for a 3-1 lead against the Gin Kings in their best-of-seven titular clash in the 2018 Philippine Basketball Association Commissioner’s Cup. Now holding a 2-1 edge, San Miguel Beer can move to within a game away from the title as it looks to score another one against a jarred Ginebra in Game 4 at 7 p.m. today at the Smart Araneta Coliseum. Following back-to-back blowout wins, the Beermen can now go for the hat-trick as they are in a good position to put themselves on the verge of their second straight championship. Though San Miguel Beer coach Leo Austria was surprised of the way his Beermen muscled their way to the series
lead, he hopes his team can sustain it as they inch closer to a possible seventh title in the last four seasons. “I’m not expecting this (win two games by a blowout) to happen at all, but we played really well in the last two games,” said Austria. “I hope we can sustain what we’ve been doing.” The Beermen annihilated the Gin Kings for the second game in a row, handing a severe beating that actually tied a finals’ record. San Miguel blew Ginebra out of the building again in Game 3, 132-94,
VIVO HOOP BATTLE. Members of
Tiger sets sights on 9th crown at Firestone golfest LOS ANGELES—Tiger Woods returns to the scene of his most recent victory when he tackles the WGC Bridgestone in Akron, Ohio, just making the elite field a testament to the superstar’s resilience. “This event has been very special to me over the years. I’m excited to be back,” said 14-time major champion Woods, who has climbed from 656th in the world to start the year to 50th— barely making the field for a tournament he has won an astonishing eight times. That includes his victory in 2013—his most recent win anywhere. Since then, Woods has been hampered by the back trouble that led to spinal fusion surgery in April of last year. “I went from just hoping to be able to play the tour to now that I feel that I can play the tour,” he said. “I certainly can win again.” And where better to prove that than Firestone? “It has always been one of my favorite golf courses on the entire tour,” Woods said. “It’s a very simple, straightforward golf course, which we don’t see very often anymore. It’s one of the reasons why I tried so hard to get in this event, is because it does mean something special to me.” A ninth victory at Firestone would also put Woods closer to his goal of playing in the Ryder Cup—as well as serving as an assistant to US captain Jim Furyk. “You know he’s going to play well this week,” American Justin Thomas said of Woods.”This place is like Augusta for him. He could probably take two, three weeks off and he’s going to get it around here fine, because he knows how to. He’s won here as many times as I’ve won everywhere in my career. “I am surprised he hasn’t mentioned that yet—which is nice,” quipped Thomas, who will play alongside fivetime major winner Phil Mickelson in the first two rounds, when Woods tees it up with Australian Jason Day. AFP
Wednesday night and tied the biggest winning margin in PBA Finals history at 38 points. Chris Ross led the way for the Beermen, shooting the lights out with 23 points after knocking down seven critical triples. Meanwhile, the individual awards for the conference will also be handed out prior to the start of Game 4. Perennial contender June Mar Fajardo is once again the front-runner to receive the Best Player of the Conference award as he is favored against Stanley Pringle or GlobalPort and Vic Manuel of Alaska. For the Best Import of the Conference, it is a tight race between pals turned foes Justin Brownlee of Barangay Ginebra and Renaldo Balkman of San Miguel Beer. Coming in, Brownlee has the slight edge in terms of statistical points. Both reinforcements are gunning for their first Best Import plum.
Team Philippines (from left) Enderun’s Mike dela Cruz, Ateneo’s Marcio Sario of Team Ballers and Team F4’s AJ Madrigal of UP, are shown with Team China’s Jason Song, a Team Kung Fu mainstay in the ASEAN Basketball League, Camel Luo and veteran Young Sean after the hosts upstaged the visiting side, 31-25, in the three-point shootout side event of the first VIVO HoopBattle 3x3 Championship Philippines at Market! Market! in Taguig last weekend.
Top SEAG PH gymnast to miss Asiad By Peter Atencio ASIDE from the national men’s basketball team, the Philippine contingent will also miss top gymnast Kaitlyn de Guzman in the 2018 Asian Games. De Guzman, a gold medallist in in the last 2017 SEA Games, has been sidelined by an injury and will not see action in the quadrennial meet in Indonesia. According to Gymnastics Association of the Philippines president Cynthia Carrion, the United Statesbased de Guzman is recovering from a recurring hip injury. The 18-year-old De Guzman is a winner of the uneven bars gold medal in the Kuala Lumpur SEA Games. Secretary general Bettina Pou said De Guzman had surgery after the SEA Games. After returning to training early this year, De Guzman hurt her hip again and was advised to seek medical attention. Gymnastics’ officials have since named Filipino-American Corinne Banagan as De Guzman’s replacement. The 16-year-old Bunagan is based in New York and trains with coach Craig Zappa. This will be Banagan’a first stint in the Asiad. The rest of the PHL Asiad Artistic gymnastics’ team are Rey Capellan, Christina Onofre, Gwyn Timbang and Carlos Yulo. Rhythmic bets are Dannah Sabio and Nicolle Medina.
Batang Gilas shaping future of PH basketball RETURNING from the FIBA U-17 World Cup last month, Philippines’ under-18 men’s national basketball team Batang Gilas is set to play again on the international stage at the FIBA U-18 Asian Championship in Nonthaburi, Thailand on Aug. 5 to 11. During their sendoff practice, PLDT and Smart showed solid support by providing Smart Travel Wi-Fi units and premium load cards for PLDT’s international calling service Free Bee, which proved useful to the team when competing abroad. “These services had really helped us during the World Cup in Argentina,” said Wilbert Lao, Batang Gilas assistant coach. “The kids were able to communicate with their families and friends which, in return, gave them the encouragement they needed.” Aside from enabling communication, Smart’s assistance also allowed the team to research and plan their plays. During the FIBA U-17 World Cup in July, Batang Gilas was grouped with the ‘toughest teams’—European countries France, Croatia, and host Argentina. “We got to study the competing teams’ strengths and weaknesses as part of the preparation,” Lao added.
With the addition of 6’10” Fil-Nigerian Ariel John ‘AJ’ Edu and 6’1” FilItalian Dalph Panopio, Batang Gilas is indeed transitioning into a powerhouse against Asia’s bests. “I’ll do everything in my power for us to qualify in next year’s World Cup,” said Panopio, 18, who has already won several awards playing for Stellazzura Basketball Academy, an all-around training program for international athletes who aspire to compete at the highest level in basketball. Bright future for PH basketball Finishing 13th in the World Cup, sports fans and supporters see a brighter future for Philippine basketball with Batang Gilas. “Seeing how the team played in the world stage and in local exhibition games, and looking at 7’1” Kai Sotto, I believe this team looks promising,” said Maverick Flores, an avid basketball fan. “They can really build this team into a winner.” Batang Gilas U-18 roster includes ADMU’s Kai Sotto and Geoff Chiu, NU’s Gerry Abadiano, Dave Ildefonso, Migz Oczon and Joshua Ramirez, DLSU’s Raven Cortez, San Beda’s Rhayyan Amsali, FEU’s Xyrus Torres, and key additions AJ Edu and Dalph Panopio.
“I am happy with this team,” said head coach Josh Reyes. “They’re keen to learn more and improve, and that’s really important in this industry.” Staunch supporter Smart has been a staunch supporter of the Gilas Pilipinas program since 2008, a program managed by Samahang Basketbol ng Pilipinas. “We are proud to support the Batang Gilas for their competition in Nonthaburi, to try and qualify for the FIBA U-19 World Cup next year,” said Gabby Kai Sotto Cui, Smart assistant vice president and head of community development and partnerships. “Looking forward to giving them the tools they need to communicate effectively, so they can do their assignments while abroad, research on their opponents, and of course, stay in touch with their families and supporters in the country.” Smart’s support for the national basketball team is in line with its advocacy of promoting sports development as part of nation-building. Batang Gilas is grouped with China, Lebanon, and United Arab Emirates for FIBA U-18 Asian Championship. The top four teams which will emerge from Batang Gilas holds practice games before the league will represent the region in they leave for Thailand for the FIBA U-18 FIBA U-19 World Cup next year. Asian Championship.
Business IN BRIEF
Groups ask PSALM to explain rising debt
ELECTRIC cooperatives on Thursday asked Power Sector Assets and Liabilities Management Corp. to explain its ballooning debt. PSALM earlier said in a Senate hearing that the debt it assumed from National Power Corp. had reached P450 billion, with another P34 billion in interest. The debts are reflected in the stranded contract costs that appear in consumers’ electricity bill. “We demand a no-nonsense examination of PSALM’s fund utilization in light of its statements before the Senate. In particular, how does PSALM manage funds from the sale of power sector assets? Were their expenditures in accordance with the Electric Power Industry Reform Act? Did the proceeds from the sale of these assets really used, as prescribed by Epira?” Philippine Rural Electric Cooperatives Association president Presley De Jesus said in a statement. A proposal by Senator Ralph Recto aims to tap the P204-billion Malampaya Fund to reduce the stranded cost and ease the burden of consumers. Alena Mae S. Flores
Cavitex to complete phase 1 of expansion
CAVITEX Infrastructure Corp. said Thursday it expects to complete the P1.1-billion road enhancement project at Manila-Cavite Expressway by the second quarter of 2019. “We expect to complete this phase 1 by the end of this month or early September. We have positioned traffic marshals to guide and direct motorists as they accustom themselves to using this facility. Phase 2, which will involve the widening of the bridges along Cavitex, will commence in September,” Cavitex president Luigi Bautista said. The company opened two of the four lanes of the southbound flyover of Cavitex on Wednesday. The southbound flyover aims to improve traffic management at the intersection of Pacific Drive and Cavitex, which was managed via a stop and go signaling system before the flyover opened. “This partial opening will help ease traffic while we continue with the rest of Phase 1 of the construction enhancement works,” Bautista said. Public Work Secretary Mark Villar said the partial opening of the flyover improved the flow of traffic and passage of vehicles in Cavitex. “ Motorists will feel the full benefits of its ongoing enhancements once all of the lanes of this facility are opened and all the other enhancements are completed,” Villar said. Darwin G. Amojelar
business@manilastandard.net extrastory2000@gmail.com FRIDAY, AUGUST 3, 2018
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Metro Pacific buys stake in logistics provider Air21 By Jenniffer B. Austria
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ONGLOMERATE Metro Pacific Investments Corp. said Thursday wholly-owned logistics arm Metropac Movers Inc. acquired a 12-percent stake in Air21 of the Lina Group. Metropac Movers president and chief executive Marilyn Aquino said in a news briefing the company completed the acquisition last month. She did not disclose the cost of the acquisition. Aquino said while the initial acquisition was only 12 percent, Metropac Movers was given an option to acquire
an additional stake in the logistics company. “We thought it is an entry point to allow us to know the business more because currently we need to understand first the business. So 12 percent is starting point, until we know the complexity of the business and challenges. We decided to stay at
Megawide to solve Cebu airport flood
GMR Megawide Cebu Airport Corp. said Thursday it expects to complete the repair of departure-level link bridge at the Macatan-Cebu International Airport Terminal 2 by Aug. 20 after passengers complained of flood in the area last week. GMCAC said in a statement it initiated temporary measures to resolve 80 percent of the problem within the week. “The final rectification of gutter works will be completed on or before Aug. 20, 2018 at the latest. GMCAC is committed to a swift resolution. These are quicker than usual timelines considering the heavy rains that Cebu has been experiencing for the past few days,” the company said. GMCAC said it was now looking into possible materials that could be installed at the sides of the Link Bridge to prevent the entry of water, such as side grills or a special roll-down plastic, in case the problem persisted. The company is also studying the installation of additional drains in the Link Bridge area. A heavy downpour and cross-winds brought an excess of rainwater into the passenger drop-off zone and the Link Bridge of Terminal 2 departure area on July 31, 2018. This created a slight overflow of water in the Link Bridge that was around heellevel. The situation was captured on social media. Darwin G. Amojelar
Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor
NEW PEMC CHAIRMAN. Energy Secretary Alfonso Cusi formally turns over the chairmanship of Philippine Electricity Market Corp. to PEM board director Noel Aboboto in a ceremony at the PEMC Office in Ortigas Center, Pasig City. Aboboto is Manila the first chairperson freely elected by the members of the PEM board since it started Standard operations. TODAY
SEC issues rules on initial coin offer THE Securities and Exchange Commission on Thursday issued the draft rules on initial coin offerings in a bid to regulate trading of cryptocurrencies, or digital tokens. The SEC said the proposed rules, which would be open for public comment, were benchmarked from the rules in various jurisdictions and markets. An ICO is a fund-raising activity usually by a start-up company that issues cryptocurrency or virtual coins to investors. While ICOs offer opportunities for small and start-up businesses to raise capital, they are also being used for fraud and manipulation. Under the proposed ICO rules, the digital tokens issued by the startups or companies conducting the ICO should be registered with the SEC and will be required to make necessary disclosure to protect the investing public. Among the salient points of the draft rules include requiring all ICOs to undergo an initial assessment by submission of initial assessment request and registration statement. Startups who will conduct ICOs of security tokens will be required to incorporate, while foreign corporations are required to maintain a branch office in the Philippines. Companies issuing ICOs will be required to keep the proceeds under escrow so that proceeds will be withdrawn only upon the presentation of progress report. SEC chairperson Emil Aquino said the final rules on ICOs are expected to be released before the end of the year. Meanwhile, the SEC on Thursday issued a warning against four companies that offering digital coins to the public. These companies include Paysbook E-commerce Systems Co. Ltd., Purewealth EBC Corp., Cypto Expert Inc., and Yeheey! iTraffi Systems Inc. Jenniffer B. Austria
Cimatu says 4 mining firms failed MICC audit By Julito G. Rada FOUR mining companies failed the latest review by the inter-agency Mining Industry Coordinating Council, Environment and Natural Resources Secretary Roy Cimatu said Thursday. Cimatu did not disclose the identities of the four mining companies, saying the findings of MICC and the result of the previous audit conducted by former Environment secretary Regina Lopez would be “harmonized” first before they were released to the public. “The four mines that did not pass the review are not yet aware of the results. I don’t even know the four who did not pass the review,” Cimatu said. “As far as the suspension and closure orders decided by the previous secretary, we will harmonize the reports. We are going back to the DENR now and meet my staff on mining and discuss the results of the findings,” Cimatu said. The MICC teams presented their findings to Cimatu in a meeting held at the Bangko Sentral ng Pilipinas Thursday morning. Cimatu
said the findings would be presented to President Rodrigo Duterte as soon as possible. “I have to present the results of the review to the president before releasing all these things…,” Cimatu said. Cimatu said the MICC teams conducted the review of the mining operations based on five aspects, including legal, environmental, social, and assistance to the community. He said it was a good review and it could be a good template for future reviews. The council is tasked to conduct mining review every two years. Cimatu said the government’s stand on the prohibition of open-pit mining stayed, because it was one of the policies of the present administration. “As what the President said in his SONA [State-of-the Nation Address], unless there will be a new way of extracting ores that will not destroy the environment,” Cimatu said. He said this could be a combination of extracting minerals not using open-pit mining, and at the same time improving the livelihood of communities around the mining areas.
12 percent,” Aquino said. Aquino said Metropac Movers was also focusing on expanding its warehousing business as it aimed to more than double its warehousing capacity over the next two years. The company recently acquired a 20-hectare property in Cavite province owned by Property Company of Friends Inc. for P2 billion. It is now in the process of acquiring another 30-hectare property in Bulacan and is studying plans to purchase a 10-hectare lot in Davao City. Metropac Movers is also expanding its service offerings to include cross docking and cold-chain services. Meanwhile, Metro Pacific said core net income rose 10 percent in the first half to P8.6 billion from P7.8 billion a year ago, lifted mainly by an expanded power portfolio, continuing traffic growth on its toll roads and steady volume growth coupled with inflationary tariff increase at Maynilad Water Service Inc. Power accounted for P5.8 billion or 55 percent of net operating income, while toll roads contributed P2.3 billion or 21 percent. Water contributed P2.1 billion, the hospitals group provided P338 million, while rail, logistics and systems group delivered P60 million. “Our operating and financial performance has been strong, and we expect the full-year numbers to be similar. Strong volume growth in recent years is due to billions of pesos of investments in our road and water businesses,” said Metro Pacific president and chief executive Jose Ma. Lim.
Toyota PH sold 1.5m vehicles in 30 years By Othel V. Campos TOYOTA Motors Philippines Corp. invested a total of P58 billion and sold 1.5 million vehicles in the past 30 years. TMPC disclosed the important milestones during the company’s 30th anniversary celebration Wednesday night at the Grand Hyatt Hotel in Bonifacio Global City. The company said it was looking at increasing sales to 180,000 units this year. Sales in the first half reached 73,146 units. TMPC vice president for marketing Jose Mari Atienza said the 2018 sales target would be achievable given the traditional surge in sales in the second half. Toyota maintained its industry leadership with about 38.2-percent market share as of end-June 2018. The dealership is estimated to expand to 70 across all regions from the current 67, including Lexus Manila Inc. The company’s contribution to government revenues is estimated to have reached P13.6 billion since 1997. Autoparts exports also amounted to $23.6 billion since 1997. Procurement from local suppliers reached P182 billion. Toyota is supporting almost 200,000 employees comprising of office and production staff. Toyota Motor Corp. president Akio Toyoda presented the Japanese company’s donation of 10 units of Innova and 20 units of Vios to President Rodrigo Duterte during the anniversary celebration. Toyoda said the donation affirmed the continued good relations of the company and the Philippine government.
CITIBANK N.A. Balance Sheet (Head Office and Branches) As of June 30, 2018 ASSETS
Cash and Cash Items Due from Bangko Sentral ng Pilipinas Due from Other Banks Financial Assets at Fair Value through Profit or Loss Available-for-Sale Financial Assets-Net Held-to-Maturity (HTM) Financial Assets-Net Unquoted Debt Securities Classified as Loans-Net Investments in Non-Marketable Equity Security-Net Loans and Receivables - Net Loans to Bangko Sentral ng Pilipinas Interbank Loans Receivable Loans and Receivables - Others Loans and Receivables Arising from RA/CA/PR/SLB General Loan Loss Provision Other Financial Assets Equity Investment in Subsidiaries, Associates and Joint Ventures-Net Bank Premises, Furniture, Fixture and Equipment-Net Real and Other Properties Acquired-Net Non-Current Assets Held for Sale Other Assets-Net Net Due from Head Office/Branches/Agencies, if any (Philippine branch of a foreign bank) TOTAL ASSETS
Current Quarter
Previous Quarter
983,497,900.90 38,806,521,611.97 963,150,890.21 35,063,968,064.78 29,661,559.565.74 13,149,000.00 189,577,690,639.82 18,722,340,000.00 113,420,790,780.34 59,836,549,944.33 2,401,990,084.85 1,395,357,743.38 227,434,200.00 750,105,961.02 5,196,936,880.47 302,639,372,458.29
1,185,051,135.50 28,436,613,518.38 892,174,483.05 61,331,271,002.45 20,567,969,960.27 13,149,000.00 174,744,033,314.15 9,649,600,000.00 106,947,888,912.51 60,537,742,590.52 2,391,198,188.88 1,147,175,138.21 227,434,200.00 721,591,645.77 5,708,282,178.23 294,974,745,576.01
1,799,424,764.09 201,032,611,232.53 16,012,774,654.93 1,211,491,842.09 1,000,000,000.00 211,491,842.09 11,426,494,670.12 9,967,544,206.62 44,216,165,941.19 285,666,507,311.57
1,489,794,102.49 204,903,207,963.79 20,141,601,219.57 6,610,312.08 6,610,312.08 8,947,761,990.71 12,915,022,675.73 30,812,657,855.01 279,216,656,119.38
3,714,838,066.12 98,179,589.48 13,159,847,491.12 16,972,865,146.72 302,639,372,458.29
2,500,062,376.03 98,179,589.48 13,159,847,491.12 15,758,089,456.63 294,974,745,576.01
373,818,251.04 2,461,452,971.12 569,768,657.51 2,296,075,322.34 149,226,746,865.00 26,672,367,114.76 454,208,521,488.72 47,953,225.57 47,953,225.57 48,871,041,247.31 487,663,824.46 685,215,408,967.83
303,963,839.43 2,388,331,645.32 441,515,476.94 1,541,874,247.69 144,566,599,243.00 21,197,528,008.69 427,535,332,079.65 49,511,815.64 49,511,815.64 107,781,002,303.31 268,918,044.54 706,074,576,704.21
193,543,320,403.54 1,563,639,678.87 982,359,482.14 0.51 291,659,128.18 0.15 403.68 159.17 5,424,312,968.52 100,849,800.78 0.05 8.60 0.02 28.13 16.09 15.32 15.32 -
178,672,940,343.25 1,537,708,840.22 928,476,627.31 0.52 226,618,343.84 0.13 423.16 165.62 5,700,046,921.80 101,437,367.68 0.06 7.92 0.02 39.27 16.73 15.98 15.98 -
LIABILITIES Financial Liabilities at Fair Value through Profit or Loss Deposit Liabilities Due to Other Banks Bills Payable a) BSP (Rediscounting and Other Advances) b) Interbank Loans Payable c) Other Deposit Substitute d) Others Bonds Payable-Net Unsecured Subordinated Debt-Net Redeemable Preferred Shares Special Time Deposit Due to Bangko Sentral ng Pilipinas Other Financial Liabilities Other Liabilities Net Due to Head Office/Branches/Agencies (Philippine branch of a foreign bank) TOTAL LIABILITIES STOCKHOLDERS’ EQUITY Capital Stock Other Capital Accounts Retained Earnings Assigned Capital TOTAL STOCKHOLDERS’ EQUITY TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY CONTINGENT ACCOUNTS Guarantees Issued Financial Standby Letters of Credit Performance Standby Letters of Credit Commercial Letters of Credit Trade Related Guarantees Commitments Spot Foreign Exchange Contracts Securities Held Under Custodianship by Bank Proper Trust Department Accounts a) Trust and Other Fiduciary Accounts b) Agency Accounts c) Advisory/Consultancy Derivatives Others TOTAL CONTINGENT ACCOUNTS ADDITIONAL INFORMATION Gross total loan portfolio (TLP) Specific allowance for credit losses on the TLP Non-Performing Loans (NPLs) a. Gross NPLs b. Ratio of gross NPLs to gross TLP (%) c. Net NPLs d. Ratio of Net NPLs to gross TLP (%) e. Ratio of total allowance for credit losses to gross NPLs (%) f. Ratio of specific allowance for credit losses on the gross TLP to gross NPLs (%) Classified Loans & Other Risk Assets, gross of allowance for credit losses DOSRI Loans & receivables, gross of allowance for credit losses Ratio of DOSRI loans & receivables, gross of allowance for credit losses, to gross TLP (%) Gross non-performing DOSRI loans and receivables Ratio of gross non-performing DOSRI loans and receivables to TLP (%) Percent Compliance with Magna Carta (%) a. 8% for Micro and Small Enterprises b. 2% for Medium Enterprises Return on Equity (ROE) (%) Capital Adequacy Ratio (CAR) on Solo Basis, as prescribed under existing regulations a. Total CAR (%) b. Tier 1 Ratio (%) c. Common Tier 1 ratio (%) Deferred Charges not yet Written Down Unbooked Allowance for Credit Losses on Financial Instruments Received
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Republic of the Philippines) Republic of the Philippines) MAKATI CITY ) s.s. We, Don Mark Rances and Martin John McLeod of the above-mentioned bank do solemnly swear that all matters set forth in the above balance sheet are true and correct to the best of our knowledge and belief. (SGD) DON MARK RANCES Country Controller
(SGD) MARTIN JOHN McLEOD Country Chief Financial Officer
SUBSCRIBED AND SWORN to before me this 31st day of July 2018 at City of Makati, affiants exhibiting their Driver License No. E04-04-066348 valid until May 12, 2022 and Passport ID No. PA6790170 issued in Australia valid until, October 19, 2027 respectively. Doc No. 403 Book No. IV Page No. 82 Series of 2018
NOTARY PUBLIC ATTY. THOMAS J.T.F. DE CASTRO Notary Public for Makati City Appt. No. M-159 until December 31, 2018 7th Floor Citibank Center Paseo de Roxas Makati City IBP No. 020334, 1/4/18 Makati Chapter PTR No. 6615346, 1/4/18 Makati City Roll No. 57068 MCLE Compliance No. V-0019955 valid 04/15/16 to 04/14/2019
B2
Business
FRIDAY, AUGUST 3, 2018 extrastory2000@gmail.com
Market retreats on profit taking T HE stock market declined Thursday on profit taking, with investors playing it safe amid trade war concerns.
The Philippine Stock Exchange Index lost 78.67 points, or 1 percent, to 7,759.55 on a value turnover of P4.9 billion. Losers overwhelmed gainers, 120 to 76, with 46 issues unchanged. Speculative PXP Energy Corp., which owns an exploration contract over the the disputed West Philippine Sea, slumped 4.8 percent to P13.50, while Manila Electric Co., the biggest retailer of electricity, declined 3.8 percent to P380. JG Summit Holdings Inc. of industrialist John Gokongwei fell 2.6 percent to P55.80, but Transpacific Broadband Group International Inc., which is bid-
ding to become the country’s third major telecommunications firm, advanced 5.6 percent to P0.57. The rest of Asian markets sank Thursday on mounting trade war fears after the US warned it was looking at more than doubling threatened tariffs on a range of Chinese imports. Shanghai and Hong Kong led losses after Donald Trump’s Trade Representative Robert Lighthizer confirmed earlier reports that the White House was considering hiking levies to 25 percent from the announced 10 percent on $200 billion of Chinese goods. “We have been very clear about the specific changes China should undertake. Regrettably, instead of changing its harmful behavior, China has illegally retaliated against US workers, farmers, ranchers and businesses,” Lighthizer said.
His statement comes after separate reports said the two sides were looking to restart talks to avert a trade war between the world’s top two economies that could hammer global growth. Shanghai finished down two percent and Hong Kong lost more than two percent in the afternoon, while Seoul slipped 1.6 percent. Tokyo lost one percent and Sydney eased 0.6 percent. Taipei shed 1.5 percent while Singapore was also more than one percent off. In response to earlier reports that the US was considering the move, Chinese foreign ministry spokesman Geng Shuang warned Wednesday that “blackmail and pressure from the US side will never work on China.” The latest developments come as Washington considers imposing tariffs on $16 billion of goods in the coming
weeks, having already targeted imports worth $34 billion last month. Investors are left guessing about how the crisis will play out, with some worrying that with both sides digging in there could be more pain down the line, but others saying Trump is playing tough as a negotiating tactic. “Markets are now wary of the next step in the trade war between the US and China,” Nick Twidale, chief operating officer at Rakuten Securities Australia, said in a note. “With the US threatening to increase tariffs to 25 percent from 10 percent and the Chinese vowing not to react to ‘blackmail’ to get them back to the negotiating table, this could be the catalyst that tips sentiment and some markets into a tailspin to the downside, especially as we enter the lower liquidity holiday trading season.” With AFP
MANILA STANDARD BUSINESS DAILY STOCKS REVIEW THURSDAY, AUGUST 2, 2018
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ASIA UNITED BANK PH ISLANDS BDO LEASING BDO UNIBANK BRIGHT KINDLE CHINABANK COL FINANCIAL EAST WEST BANK FERRONOUX HLDG IREMIT MEDCO HLDG METROBANK NTL REINSURANCE PB BANK PHIL NATL BANK PHIL STOCK EXCH PHILTRUST PSBANK RCBC SECURITY BANK UNION BANK
59.8 95.8 2.76 136.5 1.73 33.15 16.48 14.42 3.87 1.54 0.52 73.1 1.02 11.7 46 205 105.3 88.5 29.9 206 84.7
59.8 95.85 2.76 136.5 1.74 33.15 16.48 14.58 3.92 1.58 0.56 73.6 1.02 11.9 46 205.2 105.3 88.5 29.9 207 84.85
59.3 95.65 2.74 134.9 1.7 33 16.26 14.26 3.76 1.54 0.52 73 1 11.7 45.3 205 105.3 88.5 29.6 202 84.7
FINANCIALS 59.3 6,640 95.8 1,799,430 2.74 27,000 135.5 1,612,610 1.73 669,000 33.05 25,200 16.26 57,600 14.3 591,400 3.9 243,000 1.58 50,000 0.55 1,966,000 73.3 1,762,290 1 579,000 11.88 74,200 45.3 424,900 205 1,020 105.3 700 88.5 70 29.6 25,900 202 324,600 84.85 7,500
395,502 172,388,884.50 74,230 218,508,592 1,149,340 834,265 937,170 8,486,530 929,810 78,460 1,080,750 129,174,398.50 579,240 882,858 19,341,430 209,160 73,710 6,195 769,040 65,981,398 636,160.50
378,898 -84,018,854.50 32,993,481 -95,925 -1,265,964 -59,818,574.50 -19,090,860 3,714,654 29,694.50
ABOITIZ POWER AGRINURTURE ALLIANCE SELECT ALSONS CONS BASIC ENERGY BOGO MEDELLIN CEMEX HLDG CENTURY FOOD CHEMPHIL CIRTEK HLDG CNTRL AZUCARERA CONCEPCION CONCRETE A CROWN ASIA DAVINCI CAPITAL DEL MONTE DNL INDUS EAGLE CEMENT EEI CORP EMPERADOR ENERGY DEVT FIRST GEN FIRST PHIL HLDG GINEBRA HOLCIM INTEGRATED MICR IONICS JOLLIBEE LMG CHEMICALS MABUHAY VINYL MACAY HLDG MANILA WATER MAXS GROUP MEGAWIDE MERALCO PANASONIC PEPSI COLA PETROENERGY PETRON PHIL H2O PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL PRYCE CORP RFM CORP ROXAS AND CO SFA SEMICON SHAKEYS PIZZA SMC FOODANDBEV SPC POWER SWIFT FOODS TKC METALS UNIV ROBINA VICTORIAS VITARICH VULCAN INDL
37.75 15.44 0.8 1.15 0.234 110.6 3.16 15.6 193.1 44 21.15 50 68 1.85 5.06 7.55 10.7 15.88 10.5 7.27 5.05 15.66 63.4 24.2 7.45 14.2 2.5 279 5.05 3.22 13.8 26.15 12.46 19.5 394.8 6.91 2.27 4.14 8.95 5.46 1.2 11.8 56.2 6.29 4.6 2.46 1.78 13.68 69 5.24 0.127 1.16 128 2.51 2.52 1.5
37.8 15.6 0.81 1.17 0.241 119.9 3.19 15.6 195 44 22.5 50 68 1.85 5.06 7.6 10.76 15.9 10.88 7.35 5.13 15.66 63.4 24.2 7.56 14.54 2.52 279 5.05 3.22 13.8 26.8 12.48 19.5 395 6.95 2.4 4.19 8.98 5.54 1.21 11.98 56.6 6.29 4.6 2.57 1.8 13.68 69.1 5.28 0.127 1.18 129.4 2.51 2.52 1.55
37.15 15.28 0.78 1.15 0.234 110 3.16 15.46 193.1 39.5 21 50 68 1.84 5.06 7.55 10.5 15.84 10.5 7.25 5.02 15.32 62 23.85 7.45 14.1 2.42 273.4 4.9 3.21 13.8 26.05 12.3 19.2 377 6.9 2.27 4.12 8.82 5.4 1.18 11.78 55.8 6.29 4.6 2.29 1.77 13.4 67.9 5.24 0.127 1.16 127.6 2.51 2.46 1.46
INDUSTRIAL 37.8 588,400 15.5 525,100 0.79 2,908,000 1.17 514,000 0.24 570,000 112.5 530 3.18 2,464,000 15.48 811,300 195 190 39.5 404,800 21.05 65,500 50 600,600 68 30 1.84 59,000 5.06 5,500 7.6 900 10.6 2,658,200 15.88 347,700 10.76 28,500 7.35 580,200 5.13 2,503,500 15.5 556,800 63.25 32,290 24.1 15,600 7.45 364,900 14.54 772,300 2.47 937,000 276 510,190 4.9 59,100 3.21 23,000 13.8 2,400 26.25 918,700 12.4 752,200 19.44 803,100 380 233,180 6.95 6,600 2.35 261,000 4.15 65,000 8.9 1,783,800 5.5 214,700 1.19 1,368,000 11.8 86,700 56.4 287,870 6.29 1,100 4.6 4,000 2.57 1,714,000 1.8 222,000 13.5 64,400 68.5 184,890 5.28 98,100 0.127 390,000 1.17 584,000 128 1,011,270 2.51 1,000 2.48 22,468,000 1.51 4,001,000
22,034,095 8,094,412 2,315,600 598,700 136,470 58,925 7,836,390 12,565,872 36,746 16,995,475 1,409,005 30,030,000 2,040 109,110 27,830 6,800 28,305,902 5,522,090 300,292 4,239,102 12,637,504 8,591,786 2,013,259 375,405 2,718,625 11,027,688 2,326,610 140,982,126 293,705 73,860 33,120 24,125,595 9,324,918 15,609,150 89,597,408 45,715 611,190 269,250 15,903,635 1,168,109 1,632,200 1,028,478 16,254,785 6,919 18,400 4,172,300 395,880 871,568 12,727,404.50 515,108 49,530 680,100 129,527,517 2,510 56,203,240 6,040,560
-4,053,705 1,324,620 -4,050 12,000 9,000 1,186,230 -11,687,734 -2,671,620 -1,100,000 -75,890 968,748 973,578 -1,206,705 -11,302,766 -1,454,044 -1,107,568 -571,525 3,468,210 -12,500 27,748,880 -64,230 -10,198,270 -4,727,158 -1,543,678 26,160,318 -135,790 3,130,771.00 -349,200 4,863,702 -6,800 325,294.50 33,228,147 -29,970 -51,680
ABACORE CAPITAL ABOITIZ EQUITY ALLIANCE GLOBAL ANGLO PHIL HLDG ANSCOR ASIABEST GROUP ATN HLDG A ATN HLDG B AYALA CORP COSCO CAPITAL DMCI HLDG FILINVEST DEV FJ PRINCE A FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV MJC INVESTMENTS PACIFICA PRIME MEDIA PRIME ORION SAN MIGUEL CORP SM INVESTMENTS SOLID GROUP SYNERGY GRID TOP FRONTIER WELLEX INDUS ZEUS HLDG
0.245 59.65 12.1 0.97 5.99 30.95 1.04 1.02 1,015 6.21 12.34 6.86 4.89 0.208 1,005 6.01 57.5 5.06 0.62 3.92 18.28 0.68 4.86 3.49 0.038 1.35 2.8 140.5 985 1.56 458 259 0.32 0.207
0.247 59.75 12.1 0.97 6.09 31.7 1.08 1.08 1,015 6.23 12.34 7.2 4.89 0.208 1,005 6.01 58.25 5.39 0.62 4.12 18.34 0.71 5.04 3.49 0.039 1.36 2.8 140.5 985 1.58 475 261 0.325 0.207
0.244 58.1 11.92 0.97 5.99 30.1 1.01 1.02 992 6.09 11.98 6.86 4.29 0.207 996 6 55.25 5.06 0.59 3.92 17.72 0.66 4.85 3.49 0.038 1.32 2.75 138.8 978.5 1.56 458 257 0.305 0.207
HOLDING FIRMS 0.247 420,000 59.6 1,044,660 12 4,896,500 0.97 1,000 6.06 18,100 30.75 32,000 1.06 51,281,000 1.05 22,455,000 999 127,525 6.15 4,822,800 12.1 3,011,300 7.1 49,400 4.29 5,000 0.207 230,000 998.5 78,205 6 54,300 55.8 5,719,500 5.39 4,300 0.6 9,000 4.1 7,832,000 17.72 2,285,000 0.71 11,932,000 5 40,716,000 3.49 1,000 0.039 4,500,000 1.32 658,000 2.76 771,000 139.4 35,280 979.5 181,910 1.58 51,000 475 80 259.4 3,300 0.315 28,820,000 0.207 200,000
103,210 61,897,361 58,728,620 970 109,125 984,875 54,038,710 23,712,480 127,351,807.50 29,879,554 36,433,350 350,732 23,070 47,710 78,205,835 325,820 327,920,597.50 22,137 5,460 31,797,060 40,874,076 8,230,390 202,340,640 3,490 171,700 876,610 2,129,750 4,916,733 178,562,440 80,390 36,980 854,438 9,024,700 41,400
-10,247 -33,152,758 84,882.00 310,520 -2,036,910 -35,869,990 1,923,128 -5,038,308 -22,864,227.50 11,901,475 1,044,990 -2,155,382 -337,420 2,891,230 276,000 -872,970.00 43,917,470 -194,122 -37,800 -
8990 HLDG A BROWN ANCHOR LAND ARANETA PROP ARTHALAND CORP AYALA LAND BELLE CORP CEB LANDMASTERS CEBU HLDG CEBU PROP B CENTURY PROP CITYLAND DEVT CROWN EQUITIES CYBER BAY DM WENCESLAO DOUBLEDRAGON EMPIRE EAST EVER GOTESCO FILINVEST LAND GLOBAL ESTATE IRC PROP MEGAWORLD MRC ALLIED PHIL ESTATES
7.45 0.98 14.3 1.92 0.74 41.8 3.23 4.6 5.48 5.9 0.44 1 0.212 0.4 9.68 26.45 0.59 0.116 1.44 1.22 1.44 4.7 0.63 0.44
7.55 0.98 14.38 2 0.82 41.85 3.26 4.65 5.6 5.9 0.44 1.01 0.214 0.4 9.8 28.3 0.59 0.116 1.44 1.22 1.5 4.78 0.66 0.445
7.38 0.95 14 1.92 0.74 41 3.19 4.58 5.48 5.9 0.435 0.99 0.21 0.4 9.65 26.1 0.59 0.116 1.43 1.21 1.43 4.68 0.62 0.44
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NET FOREIGN BUYING/(SELLING), PHP
NAME
NAME
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PHIL REALTY PRIMEX CORP ROBINSONS LAND ROCKWELL SHANG PROP SM PRIME HLDG STA LUCIA LAND STARMALLS VISTA LAND
0.51 3.6 20.4 1.99 3.25 38 1.15 7.3 6.01
0.51 3.64 20.45 2 3.25 38 1.15 7.39 6.05
0.5 3.6 20.2 1.96 3.25 37.6 1.13 7.23 5.98
0.5 3.6 20.4 1.99 3.25 37.9 1.14 7.32 6.03
1,818,000 527,000 2,048,200 328,000 114,000 4,912,200 1,251,000 288,900 9,393,800
909,090 1,900,690 41,661,835 647,350 370,500 185,906,360 1,416,510 2,100,891 56,365,467
100,000 -374,670 -28,744,955 17,090,705 33,435 -4,065,385
2GO GROUP ABS CBN ACESITE HOTEL APC GROUP APOLLO GLOBAL ASIAN TERMINALS BERJAYA BLOOMBERRY BOULEVARD HLDG CEBU AIR CHELSEA DFNN INC EASYCALL FAR EASTERN U GLOBE TELECOM GMA NETWORK GOLDEN BRIA HARBOR STAR INTL CONTAINER IPEOPLE IPM HLDG ISLAND INFO ISM COMM JACKSTONES LBC EXPRESS LEISURE AND RES LORENZO SHIPPNG MACROASIA MANILA JOCKEY MELCO RESORTS METRO RETAIL METROALLIANCE A METROALLIANCE B MLA BRDCASTING NOW CORP PACIFIC ONLINE PAL HLDG PAXYS PHIL SEVEN CORP PHILWEB PLDT PREMIUM LEISURE PRMIERE HORIZON PUREGOLD ROBINSONS RTL SBS PHIL CORP SSI GROUP STI HLDG TRANSPACIFIC BR TRAVELLERS WATERFRONT WILCON DEPOT
14.48 23.95 1.4 0.47 0.047 13.5 4.7 10.48 0.055 70.4 7.11 6.81 24.85 905 1,873 5.4 271.4 3.66 89 13.44 7.85 0.137 3.03 3.81 15 4.02 1.05 25.45 5 7.25 2.76 2.32 2.38 17.02 8.72 10.98 8.7 3.47 119.8 5.5 1,370 0.9 0.38 46.35 87 8.5 2.26 1.12 0.56 5.14 0.74 12.02
14.6 23.95 1.4 0.47 0.048 13.56 4.7 10.48 0.057 70.85 7.11 6.81 26.8 905 1,873 5.41 280 3.76 89 13.44 7.88 0.137 3.37 3.87 15 4.08 1.08 25.9 5.09 7.25 2.8 2.32 2.39 17.68 9.08 10.98 8.7 3.54 119.8 5.58 1,380 0.91 0.38 46.5 88.5 8.5 2.31 1.12 0.6 5.16 0.75 12.1
14.3 23.75 1.4 0.46 0.046 13.5 4.5 10 0.055 69.75 6.99 6.81 24.85 900 1,841 5.38 271.4 3.6 86 13.3 7.85 0.133 2.97 3.61 15 4 1.03 25.4 4.85 6.88 2.75 2.2 2.25 16.5 8.6 10.98 8.22 3.4 113 5.4 1,351 0.89 0.365 45.8 86.95 8.36 2.17 1.1 0.56 5.04 0.74 11.9
SERVICES 14.3 23.9 1.4 0.465 0.047 13.56 4.5 10.2 0.056 69.95 7 6.81 25.15 900 1,850 5.38 279.8 3.71 87 13.3 7.88 0.135 3.35 3.77 15 4.07 1.07 25.9 4.99 6.89 2.76 2.26 2.37 17.68 8.86 10.98 8.65 3.5 114.5 5.48 1,354 0.9 0.375 46 88 8.45 2.18 1.11 0.57 5.07 0.74 12.02
21,100 30,700 495,000 1,180,000 8,800,000 106,800 85,000 11,530,500 12,880,000 167,400 813,600 1,000 116,000 600 10,050 210,400 1,070 1,247,000 356,000 9,700 20,000 3,860,000 23,866,000 40,000 1,500 352,000 565,000 1,876,100 281,200 5,072,300 681,000 1,147,000 9,000 4,600 4,156,400 100 12,400 46,000 5,700 560,700 33,045 5,585,000 2,110,000 1,262,400 553,900 20,700 11,343,000 2,232,000 230,828,000 662,900 2,468,000 472,100
305,036 734,375 693,000 549,050 415,300 1,441,908 387,230 117,638,282 710,330 11,717,465.50 5,720,371 6,810 2,981,230 540,400 18,605,745 1,134,721 298,970 4,646,010 31,112,468 129,472 157,300 516,790 77,154,930 152,370 22,500 1,420,460 595,530 48,378,140 1,389,186 35,159,254 1,883,870 2,577,660 21,300 77,868 36,603,409 1,098 107,200 160,340 649,097 3,062,761 44,850,280 5,023,570 781,000 58,238,570 48,360,634.50 174,470 25,267,650 2,464,990 134,487,840 3,362,999 1,829,800 5,673,046
14,420 1,417,500 -42,766,440 -5,835,601.50 -4,970 864,950 -212,648 -539,840 -15,615,164 1,031,510 -266,820.00 -4,577,660 -53,680 -11,807,073 213,310 209,556 11,240 -375,587 273,330 -20,537,060 211,750 18,500 -34,237,895 -6,413,943 -10,032 -239,020.00 -1,408,340 -2,446,790.00 -45,818.00 3,447,006.00
ABRA MINING APEX MINING ATLAS MINING ATOK BENGUET A CENTURY PEAK COAL ASIA HLDG DIZON MINES FERRONICKEL GEOGRACE LEPANTO A MARCVENTURES NICKEL ASIA NIHAO OMICO CORP ORNTL PENINSULA ORNTL PETROL A ORNTL PETROL B PHILODRILL PHINMA PETRO PX MINING PXP ENERGY SEMIRARA MINING
0.0025 1.62 3.93 23.35 1.47 2.03 0.3 7.67 2.08 0.216 0.124 1.58 4.46 1.18 0.53 1.09 0.012 0.013 0.011 3.03 4.58 13.5 32.35
0.0026 1.62 3.93 23.9 1.47 2.04 0.3 7.7 2.09 0.221 0.124 1.58 4.75 1.19 0.53 1.11 0.013 0.013 0.012 3.04 4.58 14.04 32.95
0.0025 1.5 3.93 22 1.47 1.98 0.3 7.67 2.04 0.216 0.121 1.52 4.41 1.14 0.53 1.06 0.012 0.013 0.011 2.99 4.42 12.98 32.1
MINING & OIL 0.0025 44,000,000 1.51 7,326,000 3.93 1,000 22.8 42,400 1.47 9,000 2 615,000 0.3 700,000 7.7 600 2.05 4,905,000 0.218 410,000 0.122 2,250,000 1.55 1,040,000 4.5 10,083,000 1.19 217,000 0.53 2,000 1.11 1,073,000 0.013 12,300,000 0.013 52,000,000 0.011 99,400,000 2.99 45,000 4.42 773,000 13.5 12,489,300 32.75 677,200
111,300 11,147,250 3,930 951,415 13,230 1,228,480 210,000 4,611 10,092,720 89,800 274,930 1,607,220 45,645,040 251,350 1,060 1,172,460 157,900 676,000 1,104,900 135,760 3,471,470 168,726,378 22,144,345
-688,540 -2,280 -49,500 -210,000 -285,560 -51,450 5,071,320 -31,080 11,000 -53,920 184,094 -3,145,120
ABS HLDG PDR AC PREF B1 AC PREF B2 DD PREF GMA HLDG PDR GTCAP PREF A HOUSE PREF A LR PREF MWIDE PREF SMC FB PREF 2 SMC PREF 2B SMC PREF 2C SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2H SMC PREF 2I
23.6 500 507 102 5.22 975 100.2 1.03 102.2 980 76.3 80.2 75 76.25 75.25 75.5 75.55
24.75 500 507 102 5.22 975 100.3 1.04 104.5 990 76.3 80.2 75 76.25 75.25 75.5 75.8
23.35 500 507 102 5.22 975 100.2 1.03 102 980 76.3 79.3 75 76.25 75.2 75.5 75.1
PREFERRED 24.1 23,900 500 2,550 507 220 102 20 5.22 108,000 975 10 100.2 3,310 1.04 3,000 102.5 124,000 985.5 3,630 76.3 3,610 79.35 1,230 75 15,300 76.25 5,010 75.2 20,800 75.5 1,000 75.8 64,160
565,175 1,275,000 111,540 2,040 563,760 9,750 331,673 3,110 12,718,375 3,575,700 275,443 97,576 1,147,500 382,012.50 1,564,537.50 75,500 4,834,476
-66,165 -563,760 -76,300 -
LR WARRANT
2.45
2.48
2.4
WARRANTS 2.45 76,000
186,280
-
1,733,949 1,561,300
37,080 -269,720
638,286
-
51,918 9,898
-
MS
PROPERTY 7.38 0.96 14.36 1.96 0.76 41.25 3.19 4.6 5.6 5.9 0.435 1.01 0.214 0.4 9.74 27.8 0.59 0.116 1.44 1.21 1.5 4.69 0.63 0.445
154,200 2,764,000 8,900 36,000 8,204,000 7,692,000 3,072,000 252,000 13,700 3,000 2,260,000 462,000 5,430,000 200,000 484,500 1,897,000 372,000 500,000 4,248,000 780,000 5,831,000 9,710,000 123,202,000 450,000
1,144,966 2,658,580 126,510 70,440 6,404,080 317,331,575 9,916,400 1,159,130 75,154 17,700 983,250 461,670 1,149,070 80,000 4,707,943 52,043,020 219,480 58,000 6,086,540 949,300 8,639,590 45,621,070 78,861,920 198,550
-267,089 -5,056,860 6,739,360 -82,880 -1,680 -34,840 134,520.00 13,130,670 -763,000 -204,110 1,023,880 4,156,230 -104,690 -
NET FOREIGN BUYING/(SELLING), PHP
OPEN
ITALPINAS XURPAS
5.2 3.16
5.2 3.2
5.13 3.15
FIRST METRO ETF
116
116
115.2
USD DMPL A1 USD DMPL A2
10.18 10.1
10.18 10.1
10.18 10.1
TRADING SUMMARY
SHARES
FINANCIAL
10,249,126
INDUSTRIAL
56,573,832
HOLDING FIRMS
192,449,355
PROPERTY
207,913,202
SERVICES
338,452,436
MINING & OIL
250,381,677
GRAND TOTAL
1,056,854,465
5.2 3.17
SME
336,000 492,000
EXCHANGE TRADED FUNDS 115.2 5,530 DDS 10.18 10.1
5,100 980
VALUE 1,858.94 (down) 9.24 622,544,073.80 FINANCIAL INDUSTRIAL 10,902.09 (down) 94.90 728,096,886.75 HOLDING FIRMS 7,746.14 (down) 86.12 1,360,207,821.47 PROPERTY 3,789.91 (down) 26.29 1,498.94 (down) 18.61 1,205,538,122.79 SERVICES MINING & OIL 10,177.08 (down) 22.32 741,725,137.928 PSEI 7,759.55 (down) 78.67 269,253,841.87 All Shares Index 4,644.68 (down) 34.84 4,931,304,935.01 Gainers: 76; Losers: 120; Unchanged: 46; Total: 242
Emperador says profit up 34% to P1.6b in 2nd quarter By Jenniffer B. Austria EMPERADOR Inc., the liquor unit of tycoon Andrew Tan, said net income in the second quarter of the year surged 34 percent to P1.6 billion, boosted by the strong growth of the international business that offset the weak performance in the domestic market. Emperador said in a disclosure to the stock exchange second-quarter revenues rose seven percent year-onyear. The strong second-quarter growth boosted the company’s first-half net income to P3.2 billion, up 18 percent on year, while first-half sales climbed eight percent to P19.5 billion. “The strong performance comes from the strong growth of the international business amidst a soft domestic market. The premium Spanish brandy and Scotch whisky business continues to show robust growth led by Fundador brandy, The Dalmore and Jura single malt whiskies led by Asia and North America,” Emperador president Winston Co said. “The local market continues to be soft but new market initiatives for growth are under way. We believe Emperador Inc. is in a good position for accelerated growth in the years to come as we envision robust and stable international and domestic businesses in the long run,” Co added. Co earlier said he expected the international liquor business to boost the company’s revenues following a recent string of overseas acquisitions. Co said the scotch whiskey business Whyte and Mackay was now on its growth phase, while prospects for the recently acquired brandy business in Mexico was expected to be on the growth phase by 2019. Co is also bullish on the prospects of the domestic market, noting the strong consumer spending. Emperador owns Emperador Distillers Inc., Scotch whisky maker Whyte and Mackay Group and Bodegas Fundador in Spain. Share price of Emperador on Thursday gained 1.1 percent to P7.35.
China Bank posted 6-month income of P3.6b By Julito G. Rada
CHINA Banking Corp., the seventhlargest lender in terms of assets, said net income in the first six months of 2018 hit P3.6 billion, unchanged from a year ago, on the back of sustained expansion in core businesses. The bank said in a disclosure to the stock exchange Thursday core operating income (recurring income) rose 15 percent to P13.3 billion on year. Total operating income stood at P13.1 billion, up 7 percent. Net interest revenues climbed 20 percent to P11.1 billion due to a robust growth in loans and securities. Improving loan yields offset the rise in funding cost, leading to an improvement in net interest margin to 3.16 percent from 3.07 percent. Fee-based revenues fell 32 percent to P2.1 billion as the bank reduced its reliance on securities trading. Total assets grew 17 percent to P768.4 billion. Deposits expanded 18 percent to P653.4 billion, underpinned by a 32-percent increase in low cost funds to P374.6 billion, which funded the growth in lending. Loans rose 18 percent to P469.4 billion, driven by strong demand across all customer segments, with consumer lending growing by 21 percent. The resulting loans to deposit ratio was a healthy 72 percent. Tighter loan monitoring and remedial efforts enabled the bank to maintain asset quality amid the loan expansion. Non-performing loans dropped P314 million or 4 percent, which led to an improved NPL ratio of 1.5 percent. NPL coverage improved to 107 percent from previous year’s 93 percent at the consolidated level, and a healthier 181 percent at the parent bank level. Total capital funds grew 4 percent year-on-year to P83.6 billion. The bank’s common equity tier 1 (CET 1) and total capital adequacy ratios stood at 12.6 percent and 13.3 percent, respectively, well above the minimum regulatory requirement.
World
Manila
Standard
TODAY
IN BRIEF Flooding displaces 150,000 in Myanmar
BAGO, Myanmar―Fears that embankments could burst under fresh rain mounted in flooded southeastern Myanmar, where some 150,000 people have been forced from their homes and a dozen people killed. A vast area of farmland across four provinces lies under muddy water with rescue teams trying to reach villages by boat to provide food to those who are unable or refuse to leave their homes. Above the town of Madauk in Bago region, floodwaters are only inches from the top of vulnerable embankments that are so far holding fast, but locals are afraid that fresh monsoon rains could spell disaster. “If this embankment doesn’t hold firm against the next flood, many more villages will be at high risk,” rescue team leader Hlaing Min Oo told AFP as he oversaw a chain of volunteers loading a boat with food destined for marooned flood victims. “For the moment, there’s little chance that the water levels will go down.” Evacuation orders are still in place across Bago, Karen, Mon and Taninthari provinces with 36 dams and reservoirs overflowing, according to state media. State media reported Thursday that 148,386 people are currently taking refuge in 327 camps. The Myanma Alinn newspaper said nearly 28,000 are still in their flooded homes, either unable to escape to shelters or are opting to stay in the hope that water levels will start to recede. AFP
CYAN MAGENTA YELLOW BLACK
Havana toasts 500-year history H AVANA―Havana could be compared to the colorful 1950s classic American cars that fill its roads: an object of desire for historians and tourists alike.
To walk through its streets is to take a step back in time. Run-down homes show signs of salt erosion as waves from the Caribbean Sea batter the city’s seawall, while at the day’s end the setting sun paints the sky orange. Despite the visual signs of deterioration, Havana is spiritually alive. The Cuban capital will celebrate 500 years in 2019, with an urban restoration plan aiming to give space to modernity while maintaining respect for its vintage character. “Havana remains frozen in time. The revolution’s aims were to look after the country,” city historian Eusebio Leal, who’s in charge of restoring the historic center, told AFP. “Undeniably there’s been a cost. When
you go around you can see the city’s damaged and covered by a veil of decadence.” “There have been no new bridges or wide avenues built in the city, there are no traffic problems and there have been no wide-scale demolitions like in other Latin American cities.” But Leal insists the city has much greater depth than simple aesthetic beauty. “Havana is not just a romantic ruin, nor a city of classic American cars, or a city of dancers and palm trees. It’s a city of intense culture,” he said. “What’s surprising is that there isn’t enough time to sample the cultural life that extends from ballet festivals to book festivals, from historic cities to jazz. “And its plastic arts are among the most desired in the world by collectors.” The neo-baroque Great Theater of Havana Alicia Alonso, home to the National Ballet and guarded by marble statues, and the majestic Capitolio building with its impressive cupola really stand out, as does the music that greets visitors on every street corner. But the landscape has started to change, not least since the country eased open its doors to foreign investment, with luxury
US accused of being cruel to immigrants
LOS ANGELES―A lawsuit filed Wednesday accuses US President Donald Trump and senior administration officials of subjecting more than 1,000 undocumented immigrants to “inhumane” conditions at a federal prison in California. Since June 8 the group of detainees have been imprisoned “in violation of their constitutional rights”, according to the complaint. “They are locked in prison cells for much of the day and all night. No health care provider has assessed them,” it says. The suit was filed a day after lawmakers assailed the Trump administration for its controversial border policy, which in another widely condemned case has led to the separation of more than 2,500 undocumented migrant children from their parents or guardians. The complaint says the immigrants in California have been subjected to “harsh prison conditions that can only reasonably be described as punitive and inhumane”. Trump, Secretary of Homeland Security Kirstjen Nielsen, Attorney General Jeff Sessions, officials from Immigration and Customs Enforcement and others are named as defendants. The detainees are only allowed to exercise outdoors for a few hours a week, and are prevented from worshiping freely, the suit says. AFP
M Form
Sta
stores and “capitalist” brands, restaurants American metropolises. In 2017, it atand hotels slipping into historic buildings tracted 4.5 million tourists. AFP and sharing public space with damp, REPUBLIC OF THE PHILIPPINES old rooftop terraces and colonialREGIONAL TRIAL COURT style balconies. NATIONAL CAPITAL JUDICIAL REGION “Over the last decade, Havana has OFFICE OF THE CLERK OF COURT & EX-OFFICIO SHERIFF seen an injection of large private iniMANDALUYONG CITY tiatives... which has given rise to an SPS. WILSON T. DE VERA AND architectural renaissance and creation NORA J. DE VERA Mortgagee/s, of jobs,” said Leal. The admittance of private enter- -versusFRE-MC18-1052 prise has had a dramatic effect, with FOR: Extra-Judicial Foreclosure of Estate 13 percent of the labor force now Mortgage under Act employed in the private sector. PriNo. 3135, as amended vate hospitals and restaurants cater to SPS. ABUDANCIO G. MARCIAL AND ELIZABETH E. MARCIAL and All the tourist demands. persons claiming under their rights, One of the oldest cities in the Mortgagor/s. Americas, Havana was a modern me- x----------------------------------------------------x NOTICE OF SHERIFF’s SALE tropolis at the start of the 20th century Upon Extra-Judicial Petition for sale under Act 3135 as but also a haven for mafia organizaamended by Act 4118 filed by Sps. Wilson T. De Vera and Nora J. De Vera, as Mortgagee, against Sps. Abudancio G. Marcial tions. and Elizabeth E. Marcial and All the persons claiming under their rights, as Mortgagor/s, and with postal address and a Following the 1959 socialist revoresidents of No. 624 F. Blumentritt Street, Hulo, Mandaluyong lution, a spiritual cleansing saw the City, to satisfy the mortgaged indebtedness which as of May 22, 2018 amounts to PESOS: ONE MILLION FOUR HUNDRED proliferation of brothels and casinos THOUSAND & 00/100 ONLY (Php 1,400,000.00) Philippine consigned to history, but physically Currency, excluding penalties, liquidated penalties, past due interest, attorney’s fee in the amount of Two Hundred Thousand the city was neglected. Pesos (Php 200,000.00) Philippine Currency, past due, other Its streets are poorly maintained charges, taxes and cost of the foreclosure, the Ex-Officio Sheriff of Mandaluyong City or his duly authorized deputy will sell at and badly lit, but Havana is a much PUBLIC AUCTION to the HIGHEST BIDDER FOR CASH OR MANAGERS CHECK and in Philippine Currency on the 24 safer city than many other Latin th
day of August 2018 at 9:00 o’clock a.m. or soon thereafter in front of the main entrance of the Hall of Justice Building, Maysilo Circle, Mandaluyong City, the following real estate property together with all the improvements existing thereon, to wit:
TRANSFER CERTIFICATE OF TITLE NO. -19410Registry of Deeds – City of Mandaluyong
Thai junta wants former PM extradited
BANGKOK―Thailand’s junta wants Britain to extradite ousted leader Yingluck Shinawatra, according to a recent request seen by AFP, in a move denounced as “political”. Yingluck, whose elected government was toppled in a 2014 coup, fled the country in August 2017 after being charged over her government’s failed rice policy. She was sentenced in absentia a month later to five years in prison for failing to stop graft in the program-a case lambasted by her supporters as part of a junta effort to drive the ex-premier’s family out of politics. Reports placed her in Dubai and then London, as rumors swirled that she was seeking asylum in Britain. Images of her purportedly in Japan, Singapore and China have cropped up on social media and in local reports. The government “hereby requests the extradition of Miss Yingluck Shinawatra, a Thai citizen, believed to reside within the United Kingdom,” said a letter from the Thai embassy in London seen by AFP on Thursday. Britain, which has an extradition agreement with Thailand, does not comment on the immigration status of any individual. But Pheu Thai, the party formerly led by Yingluck, said the request dated July 5 was authentic. AFP
B3
FRIDAY, AUGUST 3, 2018 CESAR BARRIOQUINTO, Editor mst.daydesk@gmail.com
A PARCEL OF LAND (LOT 12 BLK. 4 OF THE SUBD. PLAN PSD-04-000814, BEING A PORTION OF BLK. 29, Psd-04-003363, LRC REC. NO.), SITUATED IN THE BARRIO OF HULO, MUN. OF MANDALUYONG, METRO MANILA. BOUNDED ON THE CW., ALONG LINE 1-2 BY LOT 13 BLK. 4, ON THE NW & SW., ALONG LINE 2 TO 4 BY ACCSEEN 3, ON THE NW., ALONG LINE 5-6 BY LOT 8 BLK. 13 (Integral Chemical). ON THE NE., ALONG LINE 5-6 BY LOT 7 ON THE SE., ALONG LINE 6-7-1 BY LOT 9 & 10 ALL OF THE SUBD. PLAN. BEGINNING AT A POINT MARKED “1” ON PLAN, BEING S. 5 DEG. 55’E., 1303.40 M. FROM (OVER) BLIM #2, MUN. OF MANDALUYONG, METRO MANILA, THENCE N. 49 DEG. 52’W., 7.66 M. TO PT. 2; N. 47 DEG. 50’E., 1.71 M. OTP PT. 3; N. 43 DEG. 48’W., 2.04 M TO PT. 4; N. 43 DEG. 45’E., 9.00 M TO PT. 5; S. 51 deg. 26’E., 9.02 M. TO PT. 6; S. 40 DEG. 55’E 3.97 M TO PT. 7; S.40 DEG/39’W., 7.17 M TO THE POINT OF BEGINNING, CONTAINING AN AREA OF NINETY EIGHT SQ. METERS AND SEVENTY ONE DECIMETERS. (98.71). “All sealed bids must be submitted to the undersigned on the above-entitled time and date.” “In the event the public auction should not take on the said date, it shall be held on August 31, 2018, 9:00 A.M. or soon thereafter without further notice.” Prospective bidders or buyers are hereby enjoined to investigate for themselves the title of the said real property and the encumbrances thereon, if any there be. Mandaluyong City, Philippines, 27 July, 2018.
(Sgd.) ATTY. ERWIN N. BARATA Clerk of Court VI & Ex-Officio Sheriff (Sgd.) MELVIN E. VALLES Sheriff IV WARNING: It is absolutely prohibited to remove, deface, or destroy this Notice of Sheriff’s Sale on or before the date of Auction Sale under penalty of the law.
SEARCH. Gendarmes and firemen specialized in montain and water rescue search at the Zoicu canyon on August 2, 2018 where four people died a day before and another one went missing after a flood occurred due to bad weather conditions near the village of Soccia on the French Mediterranean island of Corsica. AFP
Cambodian PM Hun Sen slams ‘failed’ poll boycott campaign
REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL C OURT NATIONAL CAPITAL JUDICIAL REGION calls PHNOM PENH―Cambodian Prime Minister Hun Sen said opposition OFFICE OF THE CLERK OF COURT to boycott elections failed as he celebrated his “crystal clear” victory in the & EX-OFFICIO SHERIFF uncontested vote in a speech to thousands MANDALUYONG of garment workers Thursday. CITY
Hun Sen’s Cambodian People’s (CPP) poised SPS.Party WILSON T. DEis VERA ANDto win all 125 parliaJ. DE VERA mentary seats after the flawed NORA poll that will see the strongman leader extend Mortgagee/s, his 33-year rule, cementing the country’s status as a one-party state. -versusOpposition figures had called for a boycott ofFRE-MC18-1052 the vote with a so-called FOR: Extra-Judicial “sleep at home” or “clean finger” campaign after the Foreclosure most viable election of Estate Mortgage under Act last contender, the Cambodia National Rescue Party (CNRP), was dissolved No. 3135, as amended year and barred from running. SPS. ABUDANCIO G. MARCIAL AND “The sleep-at-home campaign has already failed. More than 82 percent of ELIZABETH E. MARCIAL and All the Cambodians nationwide went persons to vote,claiming it shows ourtheir Cambodians support the under rights, democratic process,” he told ax----------------------------------------------------x crowd of 14,000 Mortgagor/s. workers in his first speech since the ballot. NOTICE OF SHERIFF’s SALE UponPrime Extra-Judicial Petition under Act 3135 as “It is crystal clear that the future Minister offorthesalenew government... amended by Act 4118 filed by Sps. Wilson T. De Vera and Nora is Hun Sen again,” he said to applause. J. De Vera, as Mortgagee, against Sps. Abudancio G. Marcial and Elizabeth Marcial and All the persons claiming He told the crowd that Cambodia’s newE.parliament would convene onunder Septheir rights, as Mortgagor/s, and with postal address and a tember 19 and the government residents would ofbeNo.formed a day later. 624 F. Blumentritt Street, Hulo, Mandaluyong satisfy the mortgaged indebtedness which as of600,000 May 22, Some 6.9 million votes were City, casttoin Sunday’s election―but nearly 2018 amounts to PESOS: ONE MILLION FOUR HUNDRED ballots were spoiled, in a sign of unhappy& voters. THOUSAND 00/100 ONLY (Php 1,400,000.00) Philippine Currency, excluding penalties, liquidated penalties, past due The United States and the European Union declined to send election obinterest, attorney’s fee in the amount of Two Hundred Thousand 200,000.00) Philippine Currency, pastviable due, other servers to the poll because theyPesos said(Php it lacked credibility with no opcharges, taxes and cost of the foreclosure, the Ex-Officio Sheriff position on the ticket. of Mandaluyong City or his duly authorized deputy will sell at PUBLIC AUCTION to the HIGHEST BIDDER FOR CASHfrom OR Instead it was monitored by members of far-right and populist parties MANAGERS CHECK and in Philippine Currency on the 24 Britain, Italy, Belarus and India.day of August 2018 at 9:00 o’clock a.m. or soon thereafter in front of the main entrance of the of Justice Building, The vote immediately drew condemnation from theHallEU and the US,Maysilo while Circle, Mandaluyong City, the following real estate property the self-exiled co-founder of thetogether now with disbanded CNRP existing Sam Rainsy all the improvements thereon, totold wit: AFP this week it was a “terrible setback”. TRANSFER CERTIFICATE OF TITLE NO. -19410Registry of Deeds – City of Rainsy, who lives in France to avoid a litany of charges heMandaluyong faces in CamboA PARCEL OF to LAND (LOTthe 12 results. BLK. 4 OF THE SUBD. dia, also urged the internationalPLAN community reject AFP PSD-04-000814, BEING A PORTION OF BLK. 29, th
Psd-04-003363, LRC REC. NO.), SITUATED IN THE BARRIO OF HULO, MUN. OF MANDALUYONG, METRO MANILA. BOUNDED ON THE CW., ALONG LINE 1-2 BY LOT 13 BLK. 4, ON THE NW & SW., ALONG LINE 2 TO 4 BY ACCSEEN 3, ON THE NW., ALONG LINE 5-6 BY LOT 8 BLK. 13 (Integral Chemical). ON THE NE., ALONG LINE 5-6 BY LOT 7 ON THE SE., ALONG LINE 6-7-1 BY LOT 9 & 10 ALL OF THE SUBD. PLAN. BEGINNING AT A POINT MARKED “1” ON PLAN, BEING S. 5 DEG. 55’E., 1303.40 M. FROM (OVER) BLIM #2, MUN. OF MANDALUYONG, METRO MANILA, THENCE N. 49 DEG. 52’W., 7.66 M. TO PT. 2; N. 47 DEG. 50’E., 1.71 M. OTP PT. 3; N. 43 DEG. 48’W., 2.04 M TO PT. 4; N. 43 DEG. 45’E., 9.00 M TO PT. 5; S. 51 deg. 26’E., 9.02 M. TO PT. 6; S. 40 DEG. 55’E 3.97 M TO PT. 7; S.40 DEG/39’W., 7.17 M TO THE POINT OF BEGINNING, CONTAINING AN AREA OF NINETY EIGHT SQ. METERS AND SEVENTY ONE DECIMETERS. (98.71). “All sealed bids must be submitted to the undersigned on the above-entitled time and date.” “In the event the public auction should not take on the said date, it shall be held on August 31, 2018, 9:00 A.M. or soon thereafter without further notice.” Prospective bidders or buyers are hereby enjoined to investigate for themselves the title of the said real property and the encumbrances thereon, if any there be. Mandaluyong City, Philippines, 27 July, 2018.
US and Turkey in diplomatic crisis after sanctions ISTANBUL―Turkey and the United States were on Thursday locked in the most serious diplomatic crisis between the NATO allies in years after Washington slapped sanctions on two senior Turkish ministers and Ankara vowed to retaliate. Tensions have ratcheted up in recent weeks over Turkey’s detention on terror charges of American pastor Andrew Brunson, who was first detained in October 2016 and was moved to house arrest last week. The move to house arrest of Brunson, who led a Protestant church in the Aegean city of Izmir, inflamed rather than defused tensions, with President Donald Trump and Vice President Mike Pence warning Turkey it faced sanctions. The sanctions targeting Justice Minister Abdulhamit Gul and Interior Minister Suleyman Soylu freeze any property or assets on US soil held by the two ministers, and bar US citizens from doing business with them. “These officials serve as leaders of Turkish government organizations responsible for implementing Turkey’s serious human rights abuses,” the US Treasury Department said in a statement Wednesday. White House spokeswoman Sarah Sanders told journalists both ministers had “played leading roles in the arrest and de-
tention of Pastor Brunson”. The Turkish foreign ministry warned that the move “will greatly damage constructive efforts” to solve outstanding issues and told Washington it would retaliate. “Without delay, there will be a response to this aggressive attitude that will not serve any purpose,” it said. President Recep Tayyip Erdogan, who is to chair a meeting of Turkey’s top military council, has yet to comment on the sanctions. But on Wednesday he vowed Turkey would not give in to threats from the United States, accusing Washington of showing an “evangelist, Zionist mentality”. The standoff appears to be(Sgd.) one of theERWIN most serious crises ATTY. N. BARATA between Turkey and the United Clerk ofStates Court VIin& modern Ex-Officio history, Sheriff along with the rows over E. the 1974 Turkish invasion of Cy(Sgd.) MELVIN VALLES Sheriff IV prus and the 2003 US-led invasion of Iraq. WARNING: “A scandalous decision from Washington,” said the It is absolutely prohibited to remove, deface, or destroy this Notice of Sheriff’s Sale on or before the dateHurriyet of Auction Saledaily. under penalty the law. headline in the pro-government “Aofhistoric Copy the furnished: rupture,” added opposition Cumhuriyet. Sps. Wilson T. De Vera and Nora J. De Vera Blk. 5 Loy 1-B, SS Briogade Village The row over Brunson escalated last week when Pence, Wester Bicutan, Taguig City Sps.an Abudancio G. Marcial and Elizabeth like the pastor evangelical Christian, saidE. Turkey would Marcial and All the persons claiming under their 624 F. Blumentritt, Hulo, Mandaluyongman City of faith” face “signifirights cantNo. sanctions” if this “innocent (MStandard-Aug. 3, 10 & 17, 2018) was not freed. AFP
Copy furnished: Sps. Wilson T. De Vera and Nora J. De Vera Blk. 5 Loy 1-B, SS Briogade Village Wester Bicutan, Taguig City Sps. Abudancio G. Marcial and Elizabeth E. Marcial and All the persons claiming under their rights No. 624 F. Blumentritt, Hulo, Mandaluyong City (MStandard-Aug. 3, 10 & 17, 2018)
Manila Form 2B (Revised June 2014)
Standard
TODAY 16th to 19th Floors, Fort Legend Towers 31st Street corner 3rd Avenue, Bonifacio Global City, Taguig City 1634 Statement of Condition (Head Office and Branches) As of June 30, 2018 AMOUNTS
ASSETS
CURRENT QUARTER
PREVIOUS QUARTER
BOARD OF DIRECTORS MR. JACK LEE Chairman
Cash and Cash Items PhP Due from Bangko Sentral ng Pilipinas (BSP) Due from Other Banks Financial Assets at Fair Value through Profit or Loss Available-for-Sale Financial Assets-Net Held-to-Maturity (HTM) Financial Assets-Net Unquoted Debt Securities Classified as Loans-Net Investments in Non-Marketable Equity Security-Net Loans and Receivables - Net Interbank Loans Receivable Loans and Receivables - Others Loans and Receivables Arising from RA/CA/PR/SLB General Loan Loss Provision Other Financial Assets Bank Premises, Furniture, Fixture and Equipment-Net Real and Other Properties Acquired-Net Other Assets-Net
407,338,664.45 3,536,377,926.85 867,851,355.01 169,475,695.05 2,728,196,051.87 1,680,742,620.61 3,577,451.97 12,440,816.63 35,426,109,266.98 4,813,593,463.98 30,642,195,991.53 400,000,000.00 429,680,188.53 180,464,091.54 169,337,253.93 125,647,713.86 937,420,736.11
380,909,779.19 3,142,908,298.80 627,140,606. 02 62,530,854.94 2,687,319,078.67 1,265,646,116.62 6,390,048.48 12,440,816.63 31,250,370,290.59 4,149,657,697.10 27,521,760,206.80 0.00 421,047,613.31 142,030,051.77 181,841,025.64 111,791,068.89 989,082,894.67
TOTAL ASSETS LIABILITIES
PhP
46,244,979,644.86
40,860,400,930.91 MS. JAMIE WANG Executive Vice President
Financial Liabilities at Fair Value through Profit or Loss Deposit Liabilities Bills Payable a) Interbank Loans Payable Due to Bangko Sentral ng Pilipinas Other Financial Liabilities Other Liabilities
PhP
54,624,638.96 35,494,957,751.02 1,892,033,808.00 1,892,033,808.00 0.00 359,745,381.74 1,389,415,677.49
58,471,805.96 29,556,376,189.22 1,458,143,232.00 1,458,143,232.00 2,695,778.88 1,112,040,256.94 1,614,937,013.02
TOTAL LIABILITIES
PhP
39,190,777,257.21
33,802,664,276.02
Capital Stock Other Capital Accounts Retained Earnings
PhP
2,533,200,985.17 -58,213,593.35 4,579,214,995.83
TOTAL STOCKHOLDERS’ EQUITY
PhP
7,054,202,387.65
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY CONTINGENT ACCOUNTS
PhP
46,244,979,644.86
Financial Standby Letters of Credit Performance Standby Letters of Credit Commercial Letters of Credit Trade Related Guarantees Commitments Spot Foreign Exchange Contracts Trust Department Accounts a) Trust and Other Fiduciary Accounts b) Agency Accounts Derivatives Others
PhP
2,037,006,104.64 85,167,083.36 602,092,740.09 9,782,227.96 106,680,000.00 1,686,956,060.57 1,560,089,561.94 700,868,863.03 859,220,698.91 10,575,582,975.84 171,071,544.33
1,942,023,307.18 97,166,165.21 1,375,410,957.63 6,226,229.89 87,958,400.08 2,801,375,120.86 1,559,012,762.10 705,988,040.03 853,024,722.07 9,841,706,704.78 852,973,690.77
TOTAL CONTINGENT ACCOUNTS
PhP
16,834,428,298.73
18,563,853,338.50
PhP PhP
36,188,074,019.85 332,284,564.34
32,003,609,788.18 332,191,884.28
PhP PhP
496,519,465.43 1.37% 204,688,165.36 0.57% 153.46%
496,282,907.62 1.55% 216,449,999.89 0.68% 151.78
66.92%
66.94
PhP
619,741,823.06
662,631,462.19
PhP
20,164,987.52
20,773,175.62
PhP
0.06% 0.00
0.06% 0.00
STOCKHOLDERS’ EQUITY
MR. WILLIAM B. GO Vice Chairman DIRECTORS MR. PETER WEI MR. YI HUANG MR. CHIH-CHUNG HUANG MR. EDWIN B. VILLANUEVA MR. NG MENG TAM EXECUTIVE OFFICERS MR. PETER WEI President and CEO
MR. OLIVER D. JIMENO Executive Vice President MS. MA. GRETCHEN S. MACABASCO Senior Vice President MR. EDGARDO A.M. MENDOZA, JR. Senior Vice President MR. JIMMY ARSENIO Y. SAMONTE Senior Vice President
2,533,200,985.17 MR. JOSEPH B. ESTAVILLO -54,679,326.11 Senior Vice President 4,579,214,995.83 MR. RAFAEL V. RUFINO III 7,057,736,654.89 Senior Vice President 40,860,400,930.91 MR. REMO ROMULO M. GAROVILLO JR. Senior Vice President MR. MARVIN I. TIBURCIO Senior Vice President LOLITO RAMON A. CERRER, JR. Senior Vice President JUSTINE BENEDICT G. DELA ROSA Senior Vice President
ADDITIONAL INFORMATION Gross Total Loan Portfolio (TLP) Specific Allowance for credit losses on the TLP Non-performing Loans (NPLs) a. Gross NPLs b. Ratio of gross NPLs to gross TLP (%) c. Net NPLs d. Ratio of Net NPLs to gross TLP (%) e. Ratio of total allowance for credit losses to gross NPL (%) f. Ratio of specific allowance for credit losses on the gross TLP to gross NPL (%) Classified Loans & Other Risk Assets, gross of allowance for credit losses DOSRI Loans and receivables, gross of allowance for credit losses Ratio of DOSRI Loans and receivables, gross of allowance for credit losses, to TLP (%) Gross Non-performing DOSRI loans and receivables Ratio of gross non-performing DOSRI loans and receivable to TLP (%) Percent Compliance with Magna Carta (%) a. 8% for Micro and Small Enterprises b. 2% for Medium Enterprises Return on Equity (ROE) (%) Capital Adequacy Ratio (CAR) on Solo Basis a. Total CAR (%) b. TIER 1 Ratio (%) c. CET 1 (%)
0.00%
0.00%
0.61% 1.49% 3.90%
3.00% 2.37% 5.00%
17.68% 16.79% 16.79%
18.79% 17.93% 17.93%
I/ We hereby certify that all matters set forth in this Published Balance Sheet are true and correct, to the best of my/our knowledge and belief. (Sgd.) ANDREW A. FALCON Chief Finance Officer (Signature Over Printed Name)
(Sgd.) WEI, ERH - CHANG (a.k.a. PETER WEI) President and CEO (Signature Over Printed Name)
CYAN MAGENTA YELLOW BLACK
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Cash a Due fr Due fr Financ Availab Held-to Unquo Investm Loans Int Lo Lo Ge Other Bank P Real a Other
TOTAL LIAB
Financ Depos Bills P a) Due to Other Other
TOTAL
STOC
Capita Other Retain
TOTAL
TOTAL CONT
Financ Perfor Comm Trade Comm Spot F Trust D a) b) Deriva Others
TOTAL
ADDIT
Gross Specifi Non-p a. G b. R c. N d. R e. R f. R th Classifi allow DOSR allow Ratio o allow Gross Ratio o rece Percen a. b. Return Capita a. b. c.
I/ to the
Manila
Standard
TODAY
Jimbo Owen Gulle, Editor lgu@manilastandard.net editor.lgustandard@gmail.com
B4
friday, august 3, 2018
LGUs LocaL government units
Davao City Mayor Sara Duterte (third from left) leads the ceremonial ribbon cutting for the turnover of the newly rehabilitated Agdao Health Center and Jacinto Health Center. BDO Foundation president Mario Deriquito and BDO Foundation program director Rose Espinosa were also present, joined by BDO Mindanao region head Beth Estrada, One Network Bank president Tonet Itchon, and the managers of BDO and ONB branches in Davao City.
Davaoeños welcome rehab of health units by BDO arm CYAN MAGENTA YELLOW BLACK
LoCAL government leaders, health officials and residents of Davao City graciously welcomed the reopening of two rural health units recently rehabilitated by BDo Foundation, the corporate social responsibility arm of BDo Unibank. At the blessing and inauguration of Agdao Health Center and Jacinto Health Center, Davao City mayor Sara Duterte led local officials in sending a message of gratitude to BDo Foundation for supporting the city government’s efforts to help improve the health and well-being of Davaoeños. “Thank you for thinking of Davao City. You have been very helpful. Due to the big land area and population of the city, we really need the help of partners particularly in the private sector,” Duterte said. “our rural health units are very important in catching health problems at an early stage. our health centers are also very helpful in addressing the outbreak of diseases in communities and making sure that the health services of the city government are accessible to the public,” the mayor added. The rehabilitated Agdao and Jacinto centers were turned over to local government officials in inaugural ceremonies led by BDo Foundation president Mario Deriquito and BDo Foundation program director Rose Espinosa. They were joined by BDo Mindanao region head Beth Estrada, one Network Bank president Tonet Itchon and the managers of BDo and oNB branches in Davao City. There are more than 40 BDo and oNB branches in the city. oNB is the rural bank subsidiary of BDo. Also attending the inauguration were Davao City 2nd District Rep. Mylene Garcia-Albano, City Administrator Zuleika Lopez, Councilor Mary Joselle Villafuerte, City Health officer Dr. Josephine Villafuerte, Department of Health regional director oIC Dr. Annabelle Yumang and the rural health physicians of the district of Agdao and Barangay Jacinto. With the rehab of Agdao Health Center and its birthing home, more than 114,000 residents living in 11 barangays in the district now have access to better primary and maternal healthcare services.
Surigao feeding program set By Sara Susanne D. Fabunan
F
oR the next four months, Siargao will conduct a massive foodfeeding program to help address malnourishment in some of the coastal municipalities and fishing villages in the pristine island.
The United States-based charitable organization Risen Savior Missions is partnering with Surigao del Norte 1st District Rep. Francisco Jose “Bingo” Matugas to feed at least 1,850 children in all the 37 barangays in the municipalities of General Luna, Socorro, Dapa, Del Carmen, San Isidro, Burgos, Sta. Mocia and San Benito, all in Siargao island. Matugas Initially launched last January 2016, the program called “Himsog na Bata, Bagtik na Siagaonon” (Healthy Child, Hearty Siargao Native) aims to reduce cases of malnourishment among the children in the province, especially kids two
to six years old. “As we prepare for food security and the development of Siargao, it is also paramount that we address malnourishment in our communities to ensure our children’s ability to grow healthy and to succeed in their studies. They are the future of the island, after all,” Matugas said. With the assistance of the different LGUs and the provincial government of Surigao del Norte, Matugas said the Risen Savior Mission will feed the children with scientifically-formulated “Manna Pack,” a fortified rice mixed with either or a combination of chicken, eggs,
ground pork, fish, malunggay and other vegetables for at least three times a week for the next four months beginning Aug. 12. Risen Savior Missions representative to the Philippines Wilfredo Valencia said Siargao is just one of the many areas in the Philippines the organization is serving for the last 12 years. He said studies have shown that malnutrition is usually high in fishing villages, especially when rainy season sets in and the fishermen suddenly lose their livelihood and the means to adequately feed their children. “This is where we would like to help. What we need from the volunteers and the LGUS is their commitment and dedication to the program. Siargao, thru the program of Rep. Matugas, is willing to respond to this important mission,” Valencia said. A nonprofit organization, the Risen Savior Missions help address the problems of poverty and the basic needs of the poor by implementing a feeding program designed to reverse malnutrition and feed the mind and soul of the children.
Ombudsman-Visayas urged to decide case vs mayor By Junex Doronio AYUNGoN, Negros oriental—The office of the ombudsman was urged to decide in the cases filed by two Cebu-based businessmen last year against the mayor here, as the delay has apparently emboldened the latter to go after his son’s business competitors in
silica mining operations. Cases for robbery with violence against or intimidation of persons as well as grave misconduct and oppression were filed by Pilipinas Eco-Friendly Mining Corp., represented by Mark Y. Yu of Cebu City, and Pilipinas Logistics and Technological Solutions Inc. represented by Rodien Paca
of Naga City, Cebu against Mayor Edsel Enardecido. “We urged the office of the Visayas ombudsman to immediately decide on the cases we filed against Mayor Enardecido,” the complainants said of the cases still pending for preliminary investigation at the antigraft agency.
Republic of the Philippines MUNICIPALITY OF SANTO DOMINGO Province of Ilocos Sur BIDS AND AWARDS COMMITTEE =======================================================
Republic of the Philippines MUNICIPALITY OF SANTO DOMINGO Province of Ilocos Sur BIDS AND AWARDS COMMITTEE =======================================================
The Municipality of Santo Domingo, Ilocos Sur, through the RA 7171 Municipal Share intends to apply the sum of Sixteen million two hundred sixty eight thousand eight hundred ninety two & 75/100 pesos (P 16,268,892.75) being the Approved Budget for the Contract (ABC) to payments under the contract for the Rehabilitation/ Concreting of Farm to Market Road located at Borobor, Sto. Domingo, Ilocos Sur. Bids received in excess of the ABC shall be automatically rejected at bid opening.
The Municipality of Santo Domingo, Ilocos Sur, through the RA 7171 Municipal Share intends to apply the sum of Seventeen million six hundred ninety seven thousand nine hundred twelve & 37/100 pesos (P 17,697,912.37) being the Approved Budget for the Contract (ABC) to payments under the contract for the Rehabilitation/Concreting of Farm to Market Road located at Sta. Cruz, Sto. Domingo, Ilocos Sur. Bids received in excess of the ABC shall be automatically rejected at bid opening.
INVITATION TO BID for the REHABILITATION/CONCRETING OF FARM TO MARKET ROAD LOCATED AT BOROBOR, STO. DOMINGO, ILOCOS SUR
INVITATION TO BID for the REHABILITATION/CONCRETING OF FARM TO MARKET ROAD LOCATED AT STA. CRUZ, STO. DOMINGO, ILOCOS SUR
The Municipality of Santo Domingo, Ilocos Sur now invites bids for the Rehabilitation/Concreting of Farm to Market Road located at Borobor, Sto. Domingo, Ilocos Sur. Completion of the Works is required Two hundred thirty seven (237) Calendar Days. Bidders should have completed, within ten (10) years from the date of submission and receipt of bids, a contract similar to the Project. The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II: Instruction to Bidders.
The Municipality of Santo Domingo, Ilocos Sur now invites bids for the Rehabilitation/Concreting of Farm to Market Road located at Sta. Cruz, Sto. Domingo, Ilocos Sur. Completion of the Works is required Three hundred nine (309) Calendar Days. Bidders should have completed, within ten (10) years from the date of submission and receipt of bids, a contract similar to the Project. The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II: Instruction to Bidders.
Bidding will be conducted through open competitive bidding procedures using non-discretionary pass/fail criterion as specified in the Implementing Rules and Regulations (IRR) of Republic Act 9184 (RA 9184), otherwise known as the “Government Procurement Reform Act”.
Bidding will be conducted through open competitive bidding procedures using nondiscretionary pass/fail criterion as specified in the Implementing Rules and Regulations (IRR) of Republic Act 9184 (RA 9184), otherwise known as the “Government Procurement Reform Act”.
Bidding is restricted to Filipino citizens/sole proprietorships, partnerships, or organizations with at least seventy five percent (75%) interest or outstanding capital stock belonging to citizens of the Philippines.
Bidding is restricted to Filipino citizens/sole proprietorships, partnerships, or organizations with at least seventy five percent (75%) interest or outstanding capital stock belonging to citizens of the Philippines.
Interested bidders may obtain further information from Municipality of Santo Domingo, Ilocos Sur and inspect the Bidding Documents at the address given below from August 03-23, 2018, 8:00AM – 12:00 AM; 1:00PM – 5:00PM.
Interested bidders may obtain further information from Municipality of Santo Domingo, Ilocos Sur and inspect the Bidding Documents at the address given below from August 03-23, 2018, 8:00AM – 12:00 AM; 1:00PM – 5:00PM.
A complete set of Bidding Documents may be purchased by interested Bidders from the address below and upon payment of a nonrefundable fee for the Bidding Documents in the amount of Twenty five thousand pesos (P 25,000.00). It may also be downloaded free of charge from the website of the Philippine Government Electronic Procurement System (PhilGEPS) and the website of the Procuring Entity, provided that bidders shall pay the fee for the Bidding Documents not later that the submission of their bids. The Municipality of Santo Domingo, Ilocos Sur will hold a Pre-Bid Conference on August 10, 2018 at 9AM at the Conference Hall, Sto. Domingo, Ilocos Sur which shall be open to all interested parties. Bids must be delivered to the address below on or before August 23, 2018, 9AM at the Office of the BAC Chairman, Santo Domingo, Ilocos Sur. All bids must be accompanied by a bid security in any of the acceptable forms and in the amount stated in ITB Clause 18. 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. The Municipality of Santo Domingo, Ilocos Sur reserves the right to accept or reject any bid, to annul the bidding process, and to reject all bids at any time prior to contract award, without thereby incurring any liability to the affected bidder or bidders For further information, please refer to:
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 shall pay the fee for the Bidding Documents not later that the submission of their bids. The Municipality of Santo Domingo, Ilocos Sur will hold a Pre-Bid Conference on August 10, 2018 at 9AM at the Conference Hall, Sto. Domingo, Ilocos Sur which shall be open to all interested parties. Bids must be delivered to the address below on or before August 23, 2018, 9AM at the Office of the BAC Chairman, Santo Domingo, Ilocos Sur. All bids must be accompanied by a bid security in any of the acceptable forms and in the amount stated in ITB Clause 18. 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. The Municipality of Santo Domingo, Ilocos Sur reserves the right to accept or reject any bid, to annul the bidding process, and to reject all bids at any time prior to contract award, without thereby incurring any liability to the affected bidder or bidders. For further information, please refer to: MA. CORAZON V. TADENA, Ph.D. BAC Secretariat LGU – Sto. Domingo, Ilocos Sur (077) 726 - 4036
MA. CORAZON V. TADENA, Ph.D. BAC Secretariat LGU – Sto. Domingo, Ilocos Sur (077) 726 - 4036
(MS-AUG. 3, 2018)
A complete set of Bidding Documents may be purchased by interested Bidders from the address below and upon payment of a nonrefundable fee for the Bidding Documents in the amount of Twenty five thousand pesos (P 25,000.00).
(SGD) LUIS T. GONZALES BAC Chairman
(SGD) LUIS T. GONZALES BAC Chairman (MS-AUG. 3, 2018)
NEW PATROL CARS. To ensure the safety of his constituents and respond to emergency situations, Parañaque City Mayor Edwin Olivarez hands over to city police chief Senior Supt. Leon Rosete seven new single cab pick-ups to be distributed to various police units in the city. it is part of the continued effort of the city government to upgrade the facilities and equipment of the local police to support its field operations. Last June, Olivarez also distributed motorcycle patrol vehicles to all 16 of the city’s barangays in its effort to maintain peace and order in the city.
3,000 in QC donate blood By Rio N. Araja oVER 3,000 residents of Quezon City have again donated blood in an award-winning bloodletting drive to provide indigent or poor patients with free blood unit assistance. “Blood-letting is one way in which we can show our love for our country and for countrymen. And I would like to thank everybody who is part of this,” Vice Mayor Joy Belmonte said. Launched in 2010, the bloodletting drive organized by the office of the Vice Mayor attracts thousands of donors yearly. This year, the donors came from the city’s 142 barangays. Due to the high volume of blood donors, the annual endeavor has reaped multiple recognitions from the Dugong Bayani Awards organized by the Philippine Blood Center under the Department of Health. In 2017, the initiative was given the highest honor for institutions donating blood—the Jose Rizal Award. The bloodletting drive was also recognized twice with the Andres Bonifacio Award, the second highest award under Dugong Bayani.
16 East Capitol Drive, Kapitolyo, Pasig City Tel. No.: 6389273 The Philippine Kiteboarding Association Inc. (PKA) with SEC registration number CN201312801 and registered address at 16 East Capitol Drive, Kapitolyo, Pasig City hereby represented by its President, John Q. Ortiz and Secretary, Liezl Q. Tio, is applying for Accreditation as Recognized Sports with the Philippine Olympic Committee (POC). We hereby request that if there are any other sports body who claims to represent the same in the Philippines, objection to the application for Accreditation as Recognized Sports of the PKA should be presented to the POC Membership Commission within a period of fifteen (15) days from the date of this publication. MS-AUG. 3, 2018)
CYAN MAGENTA YELLOW BLACK
Life
Bernadette Lunas, Issue Editor manilastandardlife@gmail.com @manilastandardlife
Culture and media
@MstandardLifE friday, august 3, 2018
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CDO Handmade Paper Crafts' Beehive Lamps are made of natural fibers sourced from indigenous tribes in the southern Philippines.
Filipino design on French stage
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HE Philippine design and craftsmanship will once again wow the world as eight local companies in fashion, furniture, and furnishings sectors join the Maison & Objet on Sept. 7-11.
Maison & Objet is considered the international authority for home décor, interior design, architecture, and lifestyle culture. Its home décor fair connects the international interior design and the lifestyle community. This year’s five-day trade fair is happening at the Parc des Expositions, Paris-Nord Villepinte, France. The Philippine exhibitors at Maison & Objet are Basket & Weaves (planters and other furnishings), Cagayan de Oro Handmade Paper (lamps and novelty items in handmade paper), Chanalli (table top items), Finali (furniture), L’auras Y Levi, Inc. (home accessories), Tadeco (home accessories), Tali Handmade (fashionable bags), and WeaveManila, Inc. (abaca rugs and carpets). The Department of Trade and Industry - Center for International Trade Expositions and Missions organized the companies’ participation as part of its mandate to promote Philippine exports to the world market. According to CITEM, the participating companies manifest the uniqueness of Philippine design sensitivity—one that marries form and function practically in an unlimited number of ways. The Philippine pavilion at Maison & Objet, CITEM said, will capture the adaptability of Philippine design in any environment—modern, chic, flamboyant, classical, bare, zen, classic, elegant, etc.—in accordance to the creative direction theme “Philippine design as we live it.” Curated by Tes Pasola, it will echo the country’s reputation as a source of boutique concepts. According to Trade and Investments Promotion Group Undersecretary Nora Terrado, the country’s continued presence in major design fairs, such as Maison & Objet, is necessary to reach the interior and design players and markets in Europe.
Coral Brain Bowl from Tadeco
Fruit Basket from Basket and Weaves
Handwoven Bag from Tali Handmade
Largo from Finali
In 2017, the country’s participation in Maison generated USD 2.5 million in export sales. “We are not going to compete in the mass market as far as our fashion, furniture, and furnishings sectors are concerned. With our wealth of raw materials plus design talent that we have, we are definitely for the high-end market,” emphasizes Terrado. Through the years, CITEM has been
solidifying the country’s reputation as a preferred sourcing destination for finely crafted products for the world market. In fact, Design Philippines, the industry brand for the creative sector, captures Filipino designers’ distinct design genius. It is the current marketing program that focuses on the creativity, originality, and globally competitiveness of designs by Filipino artists and craftsmen.
Crucifix with Ivory Cristo Expirante, a 19th century Hispano-Filipino religious artwork
Religious artworks sold at Casa de Memoria
Mystery and deception in ‘My Suite Princess’ Young talents from REP's 2018 Teen Masterclass star in the rerun of the musical play 'My Suite Princess.'
IN 1955 at Argent Hotel, a chambermaid named Lily pretends to be a princess and meets a man she thinks is the hotel manager. The man is actually a photographer in disguise trying to snap a picture of the mysterious and elusive Princess Tatiana and her famous diamond necklace. This story of mystery and deception comes alive on stage as the Repertory Philippines restages its original musical play “My Suite Princess” as part of its community program on Sept. 1 at Circuit Makati.
Young talents from REP’s 2018 Teen Masterclass star in the rerun of the musical production written and directed by Joel Trinidad and Nicky Triviño, with musical direction by Onyl Torres, music by Rony Fortich, and choreography by PJ Rebullida. Michelle Cornejo plays Lily, Rafael Jimenez as Severino, and Regine Torres plays Princess Tatiana. The REP, for the second time, partners with AyalaLand to offer this free
live theater experience to indigent children and families in a bid to expose and help less privileged individuals develop a broader interest in culture and arts. This production is also made possible by grants from one of the members of the Barredo Family and Professor Nelia Sarcol of Centre for International Education. Call (02) 843-3570 or log on to www. repertoryphilippines.ph for inquiries and more details.
THE country’s premier auction house for European fine art, Casa de Memoria, featured several religious pieces in its 12th auction held recently. The highest-selling lot of the auction was a late 19th century Hispano-Filipino Crucifix with Ivory Cristo Expirante. It depicts a dramatic image of the Cristo Expirante or the dying Christ mounted on a graded cross decorated with silver cantoneros at the edges and intricate silver rays behind the polychrome ivory body of Christ. At the bottom part of the cross is a faded gilding of a skull, the symbol of Golgotha. Another stunning religious artwork that went under the hammer was the Holy Land Crucifix in olive wood and mother-of-pearl. Hailing from Jerusalem, this Terra Santa crucifix features the Cristo Expirante in metal. Its cross is made of olive wood with iridescent mother-of-pearl carvings and inlays. Aside from unique altar centerpieces, the auction also featured religious paintings dating back to 18th century Europe. One of the artworks was a European school painting in oil on canvas, enclosed in silver-toned wooden frame.
The painting showed the Madonna and Child holding a bunch of grapes, symbolic of the Eucharistic wine. Another featured painting was the Mystical Marriage of Saint Catherine of Alexandria. The Italian school oil on canvas painting was enclosed in a profusely-carved giltwood frame. The image portrays the Blessed Virgin carrying the child Jesus on her lap, holding the left hand of Saint Catherine, while Jesus offers the latter a ring, a symbolic act of spiritual grace conferment. Another fascinating lot sold at the auction was a set of bronze medals of the Holy Family and the 12 apostles. The 14 Portuguese commemorative bronze metals were dated to the 1970s. Two of these were signed by Cabral Antunes, and depicts reliefs of the St. Joseph with the child Jesus and the Madonna and Child. Inscribed at the back of both medals is a poem by Portuguese lyricist Antonio Sousa Freitas. The rest of the set features the 12 apostles and their iconography while the reverse has inscriptions related to each of them. Casa de Memoria showroom is at Jupiter Street, Makati City.
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Entertainment
FRIDAY, AUGUST 3, 2018
nickie.standard@gmail.com
Nickie Wang, Issue Editor
VICTOR
MAGTANGGOL sets online world on fire
By Nickie Wang
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HE newest Norse mythology-based fantasy series, Victor Magtanggol, premiered on Monday signifying the comeback of GMA-7’s prized actor Alden Richards on primetime. Fans gathered on Twitter and expressed their all-out support on Alden’s first solo series with 1.3 Million Tweets. From the announcement until #VictorMagtanggol Ang Simula pilot episode, fans celebrate his major breakthrough in Alden’s career by counting down on Twitter and setting a virtual “premiere viewing” party. While the GMA’s new fantasy show takes its viewers to the greater heights of their viewing habit, the show has also stirred controversy and has been slammed by netizens upon the announcement of the show, and then once again after the release of its trailer, pointing out the many similarities between Victor Magtanggol and Marvel’s Thor. “We kind of expected that people would immediately compare the series to the blockbuster film, but Victor Magtanggol is not a cheap Thorcopycat.
People can take my word for it because we are confident that we’ve crafted something good for TV,” Alden told MS Entertainment in an interview. He added that the network has invested heavily on visuals and made sure that the series will make a great impact once it hits primetime. True enough, despite the backlash, netizens poured their praises and commended the show’s superb visual effects and the all-star cast’s skillful portrayal of their roles most especially Alden’s endearing character as Victor. On its pilot episode, a brief flashback was shown in Asgard showcasing the battle of Thor who is played by “The Mountain” of Game of Thrones, Conan Stevens and his rival with his brother, Loki who is played by John Estrada. Tbattle caused Asgard to disintegrate. Thor sacrificed his life to kill Loki and his minions. While grieving for his fa-
Miguel Faustmann (left) and Alden Richards in a scene from ‘Victor Magtanggol.’
ther’s death, Magni (Miguel Faustmann) tossed the Mjolnir into the sky to keep it from anyone who wants to control its power. After several millennia, viewers meet the character of Victor (Alden) and his loving family. Victor ran after a thief who stole an old woman’s purse. His sister Lynette (Chynna Ortaleza) doesn’t approve of his heroism and his plan to go to Canada to find their missing mother Vivienne (Coney Reyes) while working as an OFW to provide for his family in the Philippines. “The series wanted to highlight the struggles of OFWs, too. It’s our small tribute to real modern-day heroes,” Alden said. Back to the story, while cleaning up the office of Mr. Magnus, the curator of the museum he’s working for, Victor got hold of an old compass. The moment he touched it, the compass lit up to Mr. Magnus’ surprise. Meanwhile, Victor met Gwen (Janine Gutierrez) at the fund-raising party for the museum. Back in Helheim, Loki was woken up by his snake, Niddhog. Victor Magtanggol airs weeknights after 24 Oras on GMA Telebabad.
Rekindling childhood imagination in ‘CHRISTOPHER ROBIN’
THIS month, bring back the playfulness, wonder, and imagination of your childhood days as Walt Disney Studios gives Winnie the Pooh his own live-action movie treatment via Christopher Robin. Christopher Robin has grown up and is stuck in a demanding job that not only overworks and underpays him but has also dimmed his adventurous and playful spark. His work has taken over his life, leaving no time for his wife and daughter. Confused and lost, he is one day visited by one of his childhood friends, Winnie the Pooh, who reminds him of the wonder and make believe that defined his youth. The whole Hundred Acre Wood gang then comes out of the woods onto the streets of London to help Christopher Robin—because best friends will always be there for you. Your little ones can also watch Christopher Robin at any SM Cinema branch nationwide for free through the Kids Watch for Free promo. For every paying adult, children below 4 feet can go in the cinema for free. The promo will run from Aug. 8 to 28. Catch Christopher Robin starting August 1 at the SM Cinema branch near you. Book your tickets through the website, www. smcinema.com or download the SM Cinema ‘Christopher Robin’ takes place after the eponymous character (Ewan McGregor) has mobile app. grown up and lost touch with the important things in life.
Erik Matti’s ‘BuyBust’ opens 14th Cinemalaya ACTION thriller BuyBust is opening the 14th Cinemalaya Philippine Independent Film Festival today at the CCP Tanghalang Nicanor Abelardo (Main Theater). The opening film will be screened at 7:00 p.m., following the opening program at 6:00 p.m.. Directed by Erik Matti, the film follows rookie police officer Nina Manigan who joins the anti-narcotic
elite squad. Soon, two teams are deployed to conduct a buy-bust operation in the slums of Manila. Realizing that the mission is poorly executed, the anti-narcotic squad finds themselves trapped by a gang of slum settlers and needs to fight their way out to escape. Co-produced by Reality Entertainment and Viva Films, BuyBust
Erik Matti’s BuyBust has been chosen as the opening film at Cinemalaya 2018, and will be screened following the festival’s opening ceremonies today.
is deemed as one of the most ambitious first full-on action films in recent local cinema history. With a budget of over P80 million, the film employed more than 300 stuntmen and utilized over 250,000 grams of gunpowder. Production began in 2016, with the filming lasting 56 days starting in March 2017. The film premiered on June 29 at the New York Asian Film Festival (NYAFF) and was the festival’s closing feature film. The film is topbilled by actress Anne Curtis who played the lead role, and MMA fighter Brandon Vera. The screening of BuyBust will be invitational, with limited tickets available to the public on a firstcome, first-served basis. Cinemalaya, the country’s biggest indie film festival in the Philippines, will run from today until Aug. 12, at various venues of the CCP and selected Ayala Mall Cinemas. For more information, visit www. cinemalaya.org, www.culturalcenter.gov.ph, or Cinemalaya Facebook page. You may also call CCP Media Arts at 832-1125 local 1704 to 1705. For ticket inquiries, call the CCP Box Office at 832-3704.
SMILES founder organizes beauty pageant with advocacies MOST beauty pageants simply showcase extraordinary features and qualities of women. But, for Dr. Irene Floro, the charming and energetic founder of Skills Mastery Institute of Livelihood and Entrepreneurship Success (SMILES), she wants to encourage young girls to make the most of their physical attributes and pursue their advocacies not just in beauty. For her, what makes it fulfilling and challenging is when she is able to train young and adults alike and make them productive citizens connect them to jobs or a livelihood She tells them to have hope and to believe in themselves and use the trainings we taught them. Does she have any plan of organizing pageants with international counterparts like Miss Universe? She said when she hosted Bb. Pilipinas International USA when they were in the country recently, “ Maybe in the future we can have one.” And when asked about joining the movies, she simply smiled and said, “Why not? Let’s explore the world.” But, her passion really now is her outreach program. “I have seen the poverty level of people living in far flung communities. They have limited access to skills training and education. It is my moral responsibility to help them. Just paying forward because God has blessed me good things in life,” she said. She added that she and her SMILES are training internally displaced persons (IDPs) of Marawi outside the relocation camps, especially those who are not in the radar of the government. “We teach them organic farming,” she related. “It has diverted their minds from wallowing in misery after the siege of Marawi. We give them psycho-social support.” He dream for the SMILES Foundation is to put up training centers. Her passion in promoting technical and vocational education and training (TVET) as a means to provide meaningful livelihood opportunities for Filipinos fuel her stewardship of the SMILES Foundation “I feel so proud when I look at (IDPs) of Marawi growing, consuming, and selling vegetables few months after we trained them in organic crops production”, she shares. As the Vice President for Mindanao, for the Technical Vocational Schools Associations of the Philippines, she trailblazed TVET in Mindanao. Dr. Floro hails from Cagayan de Oro, where she grew up with businessmen parents whose work she and her siblings sought to continue. Having academic backgrounds in Biology and Nursing, she has a masters in teaching and a PhD in Leadership and Management, all of which provided for her the aptitude towards the work she does now. However, her passion for community based skills training is something she developed all in her own, seeing the need for it in her hometown in Mindanao.
Her work does not stop in training— SMILES particularly ensures delivery of post-training services either through work placement or enterprise development, completing the circle and fighting unemployment and poverty at its wake. She sees an ideal world where opportunities abound for all Filipinos to live a better life. “The choices are plenty for everyone; we just have to know which is the best one.” Through SMILES, she is confident that these opportunities are made available to those most vulnerable, such as the IDPs of Marawi. Dingdong’s ‘Amazing Earth’ I’ve caught episodes of Dingdong Dantes’ Amazing Earth footage culled from the award-winning series, BBCs Planet Earth II. It appears that Dantes, apart from being one of the more competent actors on TV and in the movies these days, has become more at ease before the cameras as a host/narrator of documentary material, such as the environmentfocused show he is hosting on GMA every Sunday. Apart from the breathtaking visuals, the team that adapted the series for the local audience seems to understand that for something like this to be understood or embraced by audiences across the archipelago, they must be able to connect each segment to the Filipinos. Hence, you see Dantes talking to local environmental scientists about certain phenomena that average people normally take for granted or don’t understand at all. I find it clever that the writer/producer/director of the show divides the episode in five story segments and give each a showbiz-type subtitle to catch the attention of the audience. I’d like to commend the team for making an environment-themed show accessible to the audience of free TV. Amazing Earth airs Sundays on GMA7 after 24 Oras Weekend. I am not just sure how many more episodes are left after its pilot on June 17. Czech comedy in Manila The Czechs are well-known for their ability to make fun of virtually everything – as can be seen in the witty storytelling of the Czech comedy film Cosy Dens (Pelíšky),which will be the ninth film in the Czech Movie Gems festival to be screened. To remember this good ol’ fun nature of the Czechs, Czech Embassy Manila brings another cinematic masterpiece to Manila Cinematheque. Based on novel Hovno Hoří(Shit Can Burn) by Petr Šabach, Cosy Dens directed by one of the most prolific Czech filmmakers of recent times, Jan Hřebejk and released in 1999. The plot is set during one of the most tragic days of the 20th century when the emerging democracy in Czechoslovakia was being crushed by the Soviet army invasion in August 1968. Catch the Czech cinematic masterpiece at Cinematheque Manila on Aug. 8 at 6:30 p.m.. Admission is free. Seating is on a first-come, first-served basis, subject to capacity.
SMILE founder Dr. Irene Floro
Motoring
FRIDAY, AUGUST 3, 2018
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Iloilo kicks off PUVMP with Isuzu jeepneys
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LOILO CITY—Isuzu Philippines Corporation has turned over the initial batch of 15 modernized jeepneys to Metro Express Connect Inc. The formal turnover ceremony, attended by Hajime Koso (President of Isuzu Phils Corp), Ric Pallesco (General Manager and President of MetroExpress Connect, Inc.), DOTr Asec. Mark de Leon, LTFRB Chairman Martin Delgra and Villar Group founder Manny Villar, marks a significant milestone for the province, as this signals the start of the government’s Public Utility Vehicle Modernization Program in Iloilo. The modernized jeepneys that were turned over in Manila last June 18 --designed and built by IPC in partnership with body builder Almazora Motors Corp--will now ply the routes serviced by Metro Express Connect Inc. During the formal turnover ceremonies, Koso remarked, “The City of Iloilo has been emerging as a place where heritage and history are valued highly by the community; hence it has often been referred to as the ‘Emerging City of Museums’. But what sets it apart is that it is also very much a progressive urban center with a vision for its future, and as such has become the economic and commercial hub of the Western Visayas region. It is in this light that Isuzu Philippines Corp is proud to introduce to Ilonggos our version of the modernized jeepney, which
retains the original heritage and purpose of the iconic jeepney and adapts it to the needs of a fast-growing modern metropolis.” Koso added that Isuzu’s modernized jeepney is also a product of the globally renowned truckmaker’s extensive experience with, and knowledge of, the Philippine commercial vehicle market, the road and driving conditions. The modernized PUVs, assembled using the Isuzu QKR77 platform and the rear body designed and manufactured by Almazora Motors Corp, are air-condi-
tioned Class 2 PUVs with a side-facing seat configuration. The Isuzu QKR platform is assembled in the Philippines and is equipped with Euro IV-compliant 4JH1-TC Diesel Engine that delivers excellent fuel economy. The new PUV body is compliant with Philippine National Standards (PNS 2126:2017). The passenger cabin floorto-ceiling height and gangway width are 1,780 mm and 830 mm, respectively, providing more space for passengers to move easily inside. The passenger door is safely situated on the right-hand side,
facing the sidewalk. Other design features of the body include panoramic windows and windshields, full-body insulation with GeneQ shield, automatic door closer, and provisions for persons with disabilities. Completing the modernized look and features of the new PUVs are the LED TV monitors for real-time information including station details, route, date, time, weather, news, and advertisement, LED electronic signage for vehicle route information, fire extinguishers, CCTV, dashcam and back-up cameras, and the auto-
matic fare collection -- all geared for passengers’ safety, entertainment, and added convenience in fare collection. Members and operators of Metro Express Connect, no strangers to Isuzu light commercial vehicles, chose the truck maker’s modernized jeepney primarily for the Isuzu Advantage unmatched by other modernized jeepney makers. The PUVMP is envisioned to replace some 200,000 jeepneys nationwide 15 years and older with new, safe and environmentally friendly public utility vehicles.
Grab raises $2b to fight off rivals
ON A ROLL: CIVIC TYPE R THE 2018 batch of the New Civic Type R has finally arrived here in the country. Customers can visit any of the 38 Honda Car dealerships nationwide starting September 01, 2018 to see the iconic Japanese Hot Hatch in its polished metallic glory. Initial customer deliveries will commence on the 1st week of October 2018, Honda Cars Philippines Inc. said. The new Civic Type R is the first Type
R model sold locally with one hundred (100) units made available for the Philippine Market, all of which have been booked within 48 hours upon the announcement of its availability. With the continuous demand for the New Civic Type R, Honda has decided to bring in another batch of one hundred (100) units this year. Together with the signature Championship White and Ral-
lye Red color lineup, the Polished Metal Metallic color will also be available. Equipped with a 2.0L VTEC Turbo Engine packing a maximum power output of 310 PS and peak torque of 400 Nm, 6-speed manual transmission, bespoke chassis set-up and its advanced aerodynamics and technology features, the New Civic Type R aims to deliver an exhilarating driving experience both on the track
and on the road with its legendary performance attributes. The Civic Type R proved its capabilities as it broke several track records in some of the world’s most challenging racetracks such as the Spa-Francochamps in Belgium, Silverstone in the UK, Estoril in Portugal and Nurburgring in Germany making it the fastest front wheel drive production vehicle tso far.
Nissan dealership network branches out to Taytay, CamSur COMMITTED to bringing innovative mobility solutions to a wider audience, Nissan has opened two new dealerships in Taytay, Rizal and Camarines Sur. These are the latest additions to the Japanese automaker’s steadily growing network, with over 30 dealerships in the Philippines. “We are growing alongside our customers, ensuring that our quality products and top-notch after-sales service are available to more people,” says Ramesh Narasimhan, President and Managing Director of Nissan in the Philippines. “Our Taytay and Camarines Sur dealerships are both strategic additions to the business network we’ve built in the country.” The 437 sq.m Taytay showroom, located at National Highway Road corner
Cabrera Street, Brgy. San Juan, Taytay, Rizal, accommodates up to 9 units. Meanwhile, the 770 sq.m Camarines Sur showroom, located at Maharlika Highway, San Agustin, Pili, Camarines Sur, accommodates up to 8 units. All Nissan dealerships are built according to Nissan’s global retail visual identity, the Nissan Retail Environment Design Initiative (NREDI). This includes large glass-view service sites, exclusive delivery areas, and a comfortable customer lounge. Each dealership delivers dedicated end-to-end customer service programs, such as a 30-minute preventive maintenance Express Service and the comprehensive, bumperto-bumper Executive Car Check-up.
From left: Autohub Director Jessie Tan, Autohub President Willy Tee Ten, Mayor Joric Gacula, Nissan Philippines President Ramesh Narasimhan, Board Member Jun Cabitac, and Autohub Vice President for Treasury Linda Chua at the Nissan Taytay ribbon-cutting ceremony.
RIDE-HAILING firm Grab said on Thursday it has raised $2 billion from investors to expand its offerings including electronic payments, food delivery and courier services as it fights fierce competition in the fast-growing sector. Around half of the funds came from Japanese car giant Toyota, which announced last month it was pumping $1 billion into Grab, Southeast Asia’s dominant ride-share company. Grab said a “significant portion” of the proceeds would go to developing operations in Indonesia, where it has partnered with local firm Ovo to offer what it said was the country’s most widely accepted mobile payments system. The announcement comes after Grab’s regional rival, Indonesian ride-hailing app Go-Jek, said in May it was investing $500 million to expand into Vietnam, Thailand, Singapore and the Philippines. Singapore-based Grab, which operates in eight countries, launched an on-demand grocery delivery service in Jakarta last month. Southeast Asia’s ride-hailing market is expected to be worth $20 billion by 2025, according to research by Google and Singapore investment vehicle Temasek. However, Grab’s agreement to buy US giant Uber’s Southeast Asian business this year has run into trouble, with Singapore’s anti-monopoly watchdog calling for changes to the deal and threatening to overturn it. Grab last week disputed the watchdog’s finding that the buyout infringed competition rules, but vowed it would continue to cooperate with the ongoing review. In return for selling its Southeast Asian ride-hailing and food operations, Uber received a 27.5 percent stake in Grab. Since the merger, several new players, including India’s Jugnoo and Singapore-based Ryde, have entered the city-state’s ride-hailing market. AFP
Motoring
RAMON L. TOMELDAN Editor
C4 FRIDAY, AUGUST 3, 2018
Driving up Susuki sales are Celerio, Ertiga, Vitara and Ciaz.
Suzuki rides out TRAIN effects R
IDING on back-to-back strong sales performance for the first two consecutive quarters of the year, pioneer compact car distributor Suzuki Philippines (SPH) concluded the first half of 2018 with 6 percent growth in unit sales over the same period last year.
Aggressive marketing and expansion initiatives enabled SPH to overcome the challenges that beset the local automotive industry in recent months, foremost of which was the first-phase implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law. Despite the 12 percent decline in sales performance for the entire local automotive industry compared with last year, SPH posted 6 percent growth in sales to secure the top 7th rank in the market. The brand penetrated various regions and strengthened its presence in key growth areas, in particular outside the National Capital Region, to extend the successes enjoyed during the first quarter of the year. “The implementation of the TRAIN
Law challenged the whole automotive industry, which led us to undertake concrete steps to make sure the Suzuki brand stays relevant and maintain its strong performance,” shared SPH Vice President and General Manager for Automobile Shuzo Hoshikura. “We are humbled to see our hard work paying off, allowing us to close the first half of the year with back-to-back successes. These accomplishments inspire and embolden our team even more to push forward to achieve our goals for the rest of the year,” he added. Top sales drivers Suzuki Philippines is known for quality vehicles that cater to the varying lifestyles and needs of Filipinos. Consistent with their performance during the first quarter
of 2018, the Ertiga, Celerio, Vitara and Ciaz drove Suzuki sales in Q2. The four well-loved units combined accounted for more than 70 percent of H1 2018 sales. The 7-seater family vehicle Ertiga remains the top-selling Suzuki vehicle in this year’s lineup with a 33 percent share of sales. Its spacious interior and power and cost efficiency appeal to Filipino families seeking utmost functionality and comfort. Following Ertiga are the two awardwinning Suzuki units, Celerio and Vitara, with 14 percent and 13 percent share of sales, respectively. The Celerio hatchback, the Best Valuefor-Money awardee in the standard mini category in last year’s Auto Focus People’s Choice Awards (AFMCA), boasts a light compact body that delivers a smooth and efficient drive perfect for city driving. Meanwhile, the Vitara, 2017 CAGI Car of the Year awardee under the Subcompact Crossover Category, offers Filipino drivers enhanced driving and safety features in a stylish design that lets millennials achieve optimum personalization for their vehicle. Ciaz, the best personal commuter awardee in last year’s 12th C! Magazine
Vaya con Vios
to trunk lid tapers smoothly into sleek redesigned spoilers and an aerostabilizing shark fin antenna exclusive to the high-grade variants. An arsenal of state-of-the-art technology is available for your convenience. Starting with the Push Start and Smart Entry System, the All-New Vios is designed to exceed its class by letting the driver freely choose between Eco and Sport power modes. An Optitron meter gauge blends naturally into the MultiInformation Display at the vehicle’s dashboard. The integrated center panel also combines the automatic air-conditioning controls to the touch-screen display audio, allowing ease of access through Bluetooth, web link, and USB connectivity. Propelled by Toyota’s long-term pursuit of moving people, the All-New Vios also provides ergonomic interiors that promote a relaxing drive through increased shoulder space, improved shape of headrests and rear seats, and noise insulation. Under the hood, the Dual VVT-i engine which established the Vios as the
edgier look and upgraded engine performance to suit the style and needs of funloving millennials. “We are more than grateful to the Filipino market for their warm welcome of the new Dzire and Swift. We can’t wait to see how these two cars will contribute to our sales in the remaining months of the year,” said Hoshikura. “The launch was, in part, made successful by the continued support of our partners who helped generate a loud buzz in the industry. We are thankful, particularly to the media and bankers who participated in the test drive of the new Dzire held a few weeks before the launch.” SPH has inaugurated 4 dealerships so far this year, bringing the total number of Suzuki nationwide dealerships to 71. Now with outlets in key growth areas such as Calamba, Laguna and Calasiao, Pangasinan, the company further strengthens its influence in the market, bringing the Suzuki Way of Life closer to more Filipinos. “We are continuously developing marketing strategies to better serve the market, especially in areas outside Metro Manila. We are hoping to reach more regions in the months to come,” added Hoshikura.
Fast-track service at HARI
Asean NCAP’s five-star rating adds another feather to Toyota Vios’ cap.
TOYOTA Motor Philippines Corporation marks its 30th anniversary with the arrival of the new Toyota Vios. The country’s best-selling passenger car showcases a distinctly bold exterior, optimized interior comfort, signature Dual VVT-i fuel efficiency. The new Vios is a model that exhibits quality at first sight. More than the sum of its parts, the Vios brings a dash of style and sport to your ride through its fresh overall look. On the outside, a horizontally-oriented blackout grille emphasizes the model’s wider stance, which is accentuated by its LED Daytime Running Lights that comes with a pair of Fog Lamps. The continuous fascia-to-headlight structure now gives the vehicle a more emotional charge, seamlessly blending in with the new character lines which highlight the front, side, and rear skirts of the Prime variants. An improved outer design complements this striking appeal with bigger 16” alloy wheels, rear combination lamps with LED line guides, and halogen projector headlamps. This dynamic silhouette running from bumper
Awards remains a top-selling Suzuki brand. Its elegant design, excellent fuel economy, spacious interior and affordable price enable the car to stand out in the B-segment category, making the subcompact sedan a significant contributor to Suzuki’s sales Intensive expansion SPH gears up for even more vigorous marketing and expansion efforts for the rest of the year. More product launches are in the pipeline, as are dealership openings and other marketing strategies, all building up on the achievements of the first half and aimed at further boosting industry presence. SPH introduced to the Philippine market last June two much-awaited Suzuki vehicles, the all-new Dzire and Swift, equipped with improved technology and safety features. The new Dzire brings the latest of Suzuki’s technology, the Auto Gear Shift (AGS), which is a first in the local market. The AGS offers Filipino drivers a manual transmission without a clutch pedal, ready to give the fuel efficiency and drive of manual transmission and the convenience of automatic transmission. The new Swift returns with an
leader of the subcompact PC segment continues to drive the model forward with its signature fuel efficiency. The Continuously Variable Transmission (CVT) and the 5-speed Manual Transmission of the All-New Vios ensures smooth acceleration while maintaining precise control of speed and brakes. For the CVT variants, experience the freedom of choice through sequential shift and paddle shift for a sportier drive depending on the driver’s mood and preference. The Vios is also the only model in its segment whose variants are all certified by the ASEAN New Car Assessment Programme (NCAP) with a 5-star rating, the highest in its charts. As part of Toyota’s extended efforts in educating the local market on the importance of automotive safety, the model comes equipped with seven (7) SRS airbags strategically located around the car. The All-New Vios also comes with an Anti-Lock Brake System, Vehicle Stability Control, and Hill Start Assist function.
COMFORT while you wait. Hyundai’s world-class Global Dealership Space Identity ensures end-to-end comfort and efficiency for customers queueing up for their periodic vehicle maintenance services. The Fast Track Service of Hyundai Asia Resources, Inc. promises vehicle owners complete preventive maintenance service (PMS) in 30 minutes, or the service is provided for free. The latest generation of Hyundai’s pioneering Jet Service program is currently offered in 18 out of HARI’s 42 dealerships within and outside of Metro Manila. Bent on sustaining its award-winning After Sales service for passenger and commercial vehicles, HARI aims to have 36 Fast Track-ready dealerships up and running by the end of the year. The half-hour guarantee is made possible by state-of-the-art equipment manned by a team of highly-trained experts, and the ongoing digitization of service operations. Scheduling service appointments has also become easier with HARI’s online portal fasttrackservice.hyundai.ph. One can avail of Fast Track by booking an appointment or visiting a dealership as a walk-in client. The 30-minute guarantee comprises routine procedures, such as oil change, brake cleaning, and checks on lights, wipers, and engine fluids. One can also have additional services done, like having brake pads, wiper blades, and busted bulbs replaced. According to HARI President and
CEO Ma. Fe Perez-Agudo, “Hyundai is known for top-notch after-sales service around the globe, and our dealerships and service crew in the Philippines live up to that world class standard. This is why I take every opportunity to salute our hardworking and dedicated Service front liners at our dealerships--the men and women who strive for excellence in everything that they do, embodying the values of Hyundai Philippines’ ‘Gusto’ campaign: kung ano ang gusto mo, kaya kong ibigay. May kasama ka sa biyahe ng buhay.” The first semester of 2018 saw HARI’s After Sales division getting nods from Hyundai Motor Company as well as prestigious consumer bodies. HARI’s blockbuster first quarter wins include three awards for excellence in Commercial Vehicles, Passenger Car, and Customer Satisfaction in After Sales. This was recently capped by the 2018 edition of the JD Power Initial Quality Study, ranking Hyundai among the top three auto brands, representing a big jump from eighth-place ranking in 2017. Hyundai has also been named the Most Satisfying Popular Brand in AutoPacific’s 2018 Vehicle Satisfaction Awards. With the recent launch of the Hyundai Dream Centre Philippines (HDCP), the new technical skills training hub of Hyundai in the Philippines, HARI aims to not only level up the training of its service crew but also to empower young Filipinos who have the potential to pursue productive careers in the manufacturing and automotive industries.