Manila Standard - 2018 August 10 - Friday

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Manila Standard’s

Special Report on the Economy August 15, 2018

VOL. XXXII • NO. 176 • 3 SECTIONS 16 PAGES • P18 • FRIDAY, AUGUST 10, 2018 • www.manilastandard.net • editorial@manilastandard.net

Economy falters: GDP at 6% Slowdown due to policy decisions—Pernia

By Julito G. Rada

E

CONOMIC growth slowed sharply in the second quarter and fell well short of expectations as a result of policy decisions that included the shutdown of Boracay island, officials said Thursday.

The 6-percent expansion in April-June was the weakest in three years and ended a run of 10 consecutive quarters in which the economy grew at least 6.5 percent. Forecasts in a Bloomberg News survey put growth at 6.6 percent.

“The slowdown is partly due to policy

decisions undertaken that are expected to promote sustainable and resilient development,” Economic Planning Secretary Ernesto Pernia said.

“We are referring to the temporary cloNext page sure of Boracay,” he added.

‘Ship in 200,000 tons of sugar’

By Othel V. Campos and Julito G. Rada THE Trade department on Thursday called for the urgent importation of some 200,000 metric tons of sugar subject to 35 percent tariff to ease the burden on consumers from the increasing cost of

commodities and allow industries to cope with rising inflation.

In other developments: • Finance Secretary Carlos Dominguez III on Thursday ordered the Bureau of Customs to keep a closer watch on the entry of smuggled rice and sugar and speed up the auction of seized stocks. Next page

Lawmakers wary of food tariff cuts

By Macon Ramos-Araneta and Jimbo Gulle

SENATORS have misgivings on lowering the tariffs on imported fish, vegetables, meat and other food products as a mitigating measure to curb the impact of inflation, saying it might hurt workers in the agricultural sector.

“It will reduce prices definitely, but at what cost to our local producers?” said Senator Panfilo Lacson.

Lacson said there should also be mitigating measures to cushion the impact of

Cebu beauty tops pharmacy exam STORY A STUDENT from Cebu Doc-ON A8 tors’ University has topped the pharmacist’s board examinations this year, leading 2,927 takers who passed the annual Next page career test.

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Gov’t owns P74-b coco invest fund—Sandigan THE Sandiganbayan says about P74 billion in assets from the Coconut Industry Investment Fund belong to the government and should be distributed to coconut farmers.

In a resolution dated Aug. 7, the anti-graft court’s Second Division invalidated its 2017 decision calling for more hearings on the civil case involving United Coconut Planters Bank and the Coconut Planters Life Assurance Corp. or Cocolife by finding for the government.

The government had argued that the Sandiganbayan had no authority to review the landmark Next page

Theunis

WEATHER

Wet Friday seen amid ‘Karding’ TROPICAL storm “Karding” (international name “Yagi”) has maintained its strength moving east-northeast and will continue to enhance the southwest monsoon or Next page

Cabinet united on federalism, says Palace Thursday.

Presidential Spokesman Harry Roque offered the assurance that there was a ALL members of President Rodrigo “100-percent agreement” among CabiDuterte’s Cabinet are on the same net members that federalism should be page with his desire to push federalism pursued, after Finance Secretary Carlos through Charter change, the Palace said Next page

By Nat Mariano and Macon Ramos-Araneta

Edsa ban prompts solon to seek review Delos Santos Avenue starting Aug. 15 to ease the gridlock in the area.

“We are pushing through with the proTHE Metro Manila Development Au- vincial bus ban starting August 15, but thority said Thursday it will enforce the only during rush hours,” said MMDA ban on provincial buses along Epifanio Next page

By Joel E. Zurbano and Macon Ramos-Araneta

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FRIDAY, AUGUST 10, 2018 mst.daydesk@gmail.com

Solons told: Get your act together

By Rio N. Araja

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LBAY Rep. Edcel Lagman on Thursday called for unity between the majority and the minority to restore the cut on the budget of the Department of Public Works and Highways made by the Budget department.

“Mr. Chairman, I reiterate my call that the majority and minority should mend

High court urged to reset hearing on Rody's ICC pullout

By Rey E. Requejo OPPOSITION lawmakers have asked the Supreme Court to rescheduled the oral arguments on its petition assailing the constitutionality of President Rodrigo Duterte’s decision withdrawing the country’s adherence to the Rome Statute of the International Criminal Court.

In a motion, opposition Senators Francis Pangilinan, Franklin Drilon, Bam Aquino, Antonio Trillanes IV, Leila de Lima and Riza Hontiveros asked the high court to defer the oral arguments set for August 14 to August 28.

The senators stressed they have yet to receive a copy of the en banc’s decision junking detained Senator Leila de Lima’s bid to personally argue the case.

“Petitioners-Senators, through Senator De Lima, requested a copy of the resolution from the Office of the Clerk of Court but they were informed that such resolution is not yet available,” they said.

The senators said they would also seek a reconsideration of the en banc’s resolution, but that they would only be able to address it and file a motion after they received an official copy.

The senators said they did not have a lawyer to represent them for the oral arguments on August 14 whom, they said, “they deem able to fully articulate their position before the Honorable Court.”

If the SC would grant the petition, it would be the second time that the oral arguments on the issue would be deferred.

The SC originally set the oral arguments on Aug. 7, but moved it to Aug. 14.

In dismissing De Lima’s plea, the SC said it found no compelling reason to have the detained senator personally appear during the oral arguments.

De Lima is currently held at the PNP Custodial Center in Camp Crame owing to drug-related charges filed by the Department of Justice before the Muntinlupa court, following her alleged involvement in the illegal drugs trade when she was still the Justice Secretary during the Aquino administration.

Cebu...

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Louise Tan Theunis, who graduated magna cum laude from CDU, scored 91.55 percent in the test that drew 4,230 examinees.

Saying she did not expect to wind up No. 1, the 19-year-old told ABS-CBN News: “It’s just consistency, studying everyday and make sure you have your schedule and stick to it.”

“Just really work hard and make an effort, teach yourself and make sure you understand,” added the Belgian-Filipina.

It was another feather in the cap for Theunis, who is also a beauty titlist, having placed first runner-up in the Miss Mandaue pageant two years ago.

Born in Zamboanga City, the Cebu Doctors’ alum credits her parents for her achievement.

Theunis’ father has a PhD in entomology, and her mother worked for a foreign research institute.

“I look up to him, and my mom is also a smart person, she had a hard life and she was poor yet she was still able to graduate as cum laude and landed a researcher job,” she said.

Edsa...

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general manager Jose Arturo Garcia Jr. during an inspection of the Valenzuela Interim Terminal.

In other developments: Senator Grace Poe on Thursday warned the MMDA against hastily implementing a scheme banning single-passenger cars on Edsa during rush hours.

Poe, who heads the Senate committee on public services, said the MMDA, in coordination with the local governments in the metropolis, should conduct a dry run and study and publish a clear set of guidelines before implementing the plan.

“This should not be done in haste.

There can perhaps be a one day to know what will happen and then conduct a hearing the following day,” Poe told reporters.

“Let us first have a trial period and let us see the effects.”

• The Inter-agency Council for Traffic or I-ACT on Thursday sought the help of stakeholders to end the worsening traffic along Ortigas in Greenhills in San Juan City.

The Council made the appeal two weeks after it started implementing traffic mitigating measures in the area.

their differences for the time being in order to forge a collective decision to support the budget of the Department of Public Works and Highways, restore what had been cut and augment its budget when justified,” Lagman told the committee on appropriations during Highways’ 2019 budget hearing.

“The majority and the minority must be united in supporting a realistic budget of the Department of Public Works and Highways in order to make a truism of the oft-repeated invocation that infrastructure is the engine of growth.”

“We must restore the cuts in the DPWH submittal made by DBM. We must not only restore the excised allocations but must augment the DPWH’s budget once found to be justified and imperative.”

Meanwhile, Majority Floor Leader Rolando Andaya Jr. said Thursday the House benefits from many opposition and suffers when there is none.

“The House leadership values the important role of the opposition. They are essential in improving policies. Their inputs are vital in a deliberative and colle-

gial body that is Congress,” Andaya said.

He vowed that the new House leadership would not curtail debate and would encourage the full and reasonable discussion of issues on the floor.

One of the major casualties of the budgetary calisthenics now known as “cashbased budgeting” was Public Works with a slash amounting to P93.343 billion broken down as P90.182 billion for capital outlay and P3.781 billion for maintenance and other operating expenses.

The reduction included a drastic slash on locally funded projects.

Economy...

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pines as one of the best-performing economies in Asia, just after Vietnam at 6.8 percent growth and China at 6.7 percent growth, and ahead of Indonesia’s 5.3 percent, this growth rate is less than what we had hoped for,” Pernia said in a briefing.

He also said that the second-quarter growth could have been faster were it not for higher inflation. Inflation in the first half averaged 4.3 percent, over the target range of 2 to 4 percent for the year.

ING Bank Manila senior economist Joey Cuyegkeng said two sources of downside surprise were the deteriorating trade imbalance and the poor performance of the agriculture sector.

PSA data early this week showed that the trade deficit in the first half hit $19.10 billion, higher than the $11.75 billion a year ago and $15.75 billion a month ago. For the month of June alone, the deficit widened to $3.35 billion from $1.59 billion a year ago, as imports continued to significantly outpace exports.

The London-based economic research consultancy firm Capital Economics expects the slowdown in GDP growth to continue over the second half of the year as tighter monetary policy and higher inflation weigh on consumer spending.

“The upshot is that, although the economy is set to perform relatively well over the next year or so, growth should continue to ease from around 6.5 percent this year to 6 percent in 2019. In contrast, the consensus is expecting growth of 6.6 percent next year,” it said.

Rajiv Biswas, Asia-Pacific chief economist of the London-based global information provider IHS Markit, said the government and central bank face a more challenging economic outlook of softening growth momentum and rising inflation.

“With the BSP having commenced a monetary policy tightening cycle, the impact of higher policy rates will also be a moderate drag on GDP growth over [the] coming quarters,” Biswas said.

Biswas said a key risk to the near-term outlook was from further rises in world oil prices, which could push inflation higher and force more BSP rate hikes during the second half of 2018 and in 2019.

“Another downside risk to the near-term economic outlook is from the escalating USChina trade war, which could hit the East Asian manufacturing supply chain to China and have some negative impact on Philippines manufacturing exports,” Biswas said.

Pernia said there was a “grave concern” about the almost stagnant output of the agriculture sector, saying this supported the premise that the main reason behind the high inflation was the gross deficiency in the domestic production of food, which was not augmented by imported goods, especially rice.

“Today’s data on agriculture output

strengthens the case for the government, particularly the Department of Agriculture, to urgently conduct a comprehensive review and reform of policies and programs that restrict access to land and the use of land, access to technology and extension services, access to finance, and access to markets,” Pernia said.

“This should also include an assessment of the market environment, including the possible presence of cartels and incidence of smuggling. The Department of Trade and Industry and the Philippine Competition Commission can help us in this endeavor,” Pernia said.

Pernia said rice tariffication was a crucial measure to address food supply issues and their consequent impact on inflation. He said it would reduce the policy uncertainty in the rice trade, and encourage more productive investments in the sector.

“While headline inflation has risen in the past six months, the month-on-month numbers showed a downward trajectory so that inflation should moderate by the end of the year in line with the forecast of the Bangko Sentral ng Pilipinas,” he said.

Pernia, however, mentioned some “silver linings.” He said in the case of household consumption, higher disposable incomes resulting from the recently passed Tax Reform Package 1 and improved labor market conditions were expected to help sustain growth.

Government consumption recorded a slight deceleration at 11.9 percent from the 13.6 percent in the previous quarter. He said this was still higher than the 7.6 percent recorded in the second quarter of 2017. The dip was the result of lower disbursements for personnel services, maintenance and operating expenses, as well as subsidies despite the higher allocation to the local government units.

Still, he said the timely implementation of the “Build, Build, Build” program bodes well with the construction industry.

The Palace, meanwhile, said it was all right if GDP falls further as a result of measures that protect the environment.

“We’re investing in the future and not just in the present,” said Presidential Spokesman Harry Roque in a Palace briefing Thursday.

Roque was responding to Pernia’s observations about the impact of the Boracay closure and a mining crackdown on GDP growth.

“The President stressed the need to protect the environment and to ensure that the next generations will also enjoy Boracay as we know it—an island paradise,” said Roque.

He also brushed aside concerns at a slowdown.

“I don’t think it is alarming because 6 percent is still high. We may not have met the target, but 6 percent is very high,” he said.

With AFP and Nat Mariano

The holiday island was shuttered in April for a six-month cleanup on the orders

of President Rodrigo Duterte, who branded the resort a “cesspool” sullied by tourismrelated businesses flushing sewage into the sea.

Despite the lower-than-expected figures, the Philippines remains one of the bestperforming economies in Asia behind Vietnam’s 6.8 percent and China’s 6.7 percent for the quarter.

The results come as concern is growing in the Philippines over inflation, which hit a five-year-high 5.7 percent in July.

The central bank raised key interest rates by 50 points at its meeting late Thursday.

In addition to the slower second quarter numbers, Pernia said gross domestic productfor the first three months of 2018 was also adjusted downward to 6.6 percent, from 6.8 percent.

He said this meant the economy only grew 6.3 percent in the first half, well below the 7-8 percent full-year target.

Pernia said the closure of Boracay, which the government says draws two million tourists each year and pumps roughly $1 billion into the economy, “partly made a dent on the economy with growth in exports of service slowing.”

Agriculture’s anemic 0.2 percent growth did not help, while mining also slowed due to the closure of several pits and higher mineral taxes.

Industrial growth also eased because of strict regulations of controlled chemicals and higher shipping rates.

“We are also gravely concerned about the almost stagnant output of the agriculture sector,” Pernia said, noting a “gross deficiency in the domestic production of food” had helped fuel inflation.

The government is preparing a raft of “temporary” measures to improve food supplies, he said, including cuts to import duties of certain products and possible lifting of government quotas on imports of rice, the country’s staple cereal.

The ceiling was meant to protect Filipino rice farmers from competition with imported grains, but Pernia wants it replaced with temporary tariffs.

The Philippine Statistics Authority reported on Thursday that manufacturing, trade and construction sectors were the main drivers of growth for the period. Among the major economic sectors, services recorded the fastest growth at 6.6 percent. Industry followed with a growth of 6.3 percent.

Pernia said the economy would have to expand by at least 7.7 percent in the second semester to attain the low-end of the 7 to 8 percent target range for 2018.

“Although this growth still puts the Philip-

Lawmakers...

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To issue the implementing guidelines on the VAT exemption of medicines for diabetes, high cholesterol, and hypertension effective Jan. 1, 2019 for compliance by all public or private hospitals and drugstores, including generics pharmacies nationwide.

Senator Juan Edgardo Angara, meanwhile, said some bills such as the universal health care bill can reduce family expenses if they are passed into law.

He also said allowing the importation of rice by private traders would also lower the cost of the staple.

Minority Leader Franklin Drilon said he supports the objective to arrest inflation, but said the country’s economic managers should think about the implication thoroughly.

Senator Paolo Benigno Aquino IV said the government must look out for the welfare of farmers and fishermen.

“Lowering the tariffs will lower the price.

But this will run over farmers and fishermen. We need to protect Filipinos who are drowning in high prices,” he said in Filipino.

He also asked the government’s economic managers to ensure that mitigating measures are in place for millions of farmers before implementing rice tariffication.

Cabinet...

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members but I would like to see if we can authenticate that these will be the results as proposed by the Con-Com,” Roque said. “I’d like to see if there are alternatives because federalism remains a priority of the President and we need to address obviously even the financial aspects of the constitutional change towards federalism.”

He added that the draft proposal is now with Congress, which can adopt the charter or make changes to it.

“I’m sure the issues raised by the members of the Cabinet will be looked into by Congress and also by the people ultimately,” Roque said.

“I don’t think any of the declarations made by the economic managers are conclusive. In fact, he was very particular when he said that I think there will be problems as [the charter is] currently drafted. So, he did not say that the shift to federalism per se will result in the problems that he perceives,” Roque said, referring to Dominguez.

the lower tariffs on local farmers and hog and poultry raisers.

This developed as consumer group Laban Konsyumer Inc. asked the National Price Coordinating Council to freeze prices on basic necessities and prime commodities or BNPC until at least the first quarter of 2019.

“In two weeks’ time, we shall enter the ‘Ber’ months, where pressures on demand and supply of BNPC can trigger another round of price increases,” Laban Konsyumer president Victorio Mario Dimagiba told NPCC Director Ronnel O. Abrenica in a letter on Aug. 8.

In light of the 5.7 percent inflation rate posted in July, the consumer group told the council, an agency under the Department of Trade and Industry, to also implement the following: Discourage the use of easy open lids for canned products, which translates to a savings of at least 50 centavos per can.

Enforce the 10 percent discount of rice from the National Food Authority to the 50 percent poor of the population up to 20 kilos per month “as per express provision of TRAIN 1”; and

Dominguez III and Socioeconomic Planning Secretary Ernesto Pernia expressed worries about the proposed federal constitution and how the move to federalism would be funded.

“I think there’s a 100-percent agreement that we are pushing for federalism. The exact mechanics of how to do it, well, no one can claim a monopoly,” Roque said.

Dominguez this week expressed apprehension over how the new federal system would handle national debt, and asked the consultative committee that prepared the draft constitution about the role of the central bank.

Pernia last month expressed concerns that a federal system would slow down the country’s momentum of growth, and said only a handful of the proposed states would be ready for federalism.

“We respect the views of these Cabinet

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Supreme Court ruling declaring the San Miguel Corp. shares in the fund as government property since these were acquired using the coco levy funds that were collected from coconut farmers during the Marcos administration.

In 2014, the high court ruled with finality on the 2004 decision of the Sandiganbayan that awarded the ownership of the coco levy funds to the government.

The Sandiganbayan said the high court decision was final with the issue of ownership the only one to be decided, and despite the fact that it gave UCPB and Cocolife the chance to assert their claim last year.

The Sandiganbayan then issued a writ of partial execution, ordering all the income earned by 20 CIIF companies and the more than 753 million preferred shares of SMC be used to benefit the coconut industry.

“All income, interest or profit derived from these assets are to be used only for the benefit of all coconut farmers and for the development of the coconut industry,” the resolution says.

About P74 billion in coco levy funds is already with the National Treasury, but the Presidential Commission on Good Government said there were billions of pesos more that had yet to be recovered.

The government now faces no legal hurdles to distribute the coco levy funds to farmers, but a law on its implementation has yet to be passed. Rio Araja

Wet...

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habagat affecting the entire country on Thursday.

According to the Philippine Atmospheric, Geophysical and Astronomical Services Administration’s 4 pm forecast, “Karding” was last observed at 1,160 kilometers east of Basco, Batanes with maximum winds of 65 kms per hour and gustiness of 80 kph.

Scattered moderate to heavy rains are expected over northern and central Luzon, especially the western section beginning Friday.

The weather bureau said Metro Manila,

PH, China work on framework of joint oil hunt

By Nat Mariano THE framework for the proposed joint exploration of the West Philippine Sea is expected to be ready before Chinese President Xi Jinping visits Manila in November, the Palace said Thursday.

“The President has repeatedly said that he is open to joint exploration. Number one, because the Supreme Court said it’s constitutional in [the case of] La Bugal; and number two, because it is pursuant to the national interest. But he will not give up even an inch of Philippine territory. That’s our stand,” said Presidential Spokesman Harry Roque.

“We are working with the realities of modern day life. We are working with the realities of geopolitics. But we are promoting the national interest first and foremost,” he said.

Senator Antonio Trillanes IV, a constant critic of the administration, said the Philippines would be at a disadvantage if it pushes through with joint energy exploration with China.

Trillanes said Filipinos may be reduced to just mere observers in a joint exploration deal with China because of its technology.

“We expect China to dominate the whole engagement because Filipinos right now do not have the capability and the technology to do such undertaking,” Trillanes told the ANC news channel.

Foreign Affairs Secretary Alan Peter Cayetano earlier said the administration is working on a framework for possible oil exploration with China where companies can work on a commercial level without damaging the country’s claims.

Malacañang also maintained that the proposed joint exploration with China was constitutional, and featured a 60-40 sharing scheme similar to that used in the exploration of the Malampaya gas field.

But Trillanes warned that while a 6040 sharing policy looks fair at face value, China may crunch the numbers differently and manipulate the deal to its advantage.

“Once they crunch the numbers, they can manipulate stuff and make you believe you are actually getting is 60 percent when in reality you may actually just be getting 10 percent,” Trillanes said.

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Dominguez said given the tight domestic supply of both rice and sugar, unscrupulous traders would naturally sneak more of those goods into the country without paying taxes.

• The Bureau of Customs said Thursday it had confiscated 45 container vans containing more than P39 million worth of smuggled sugar at the Port of Manila District Collector Erastus Austria said the shipment consignee, Red Star Rising Corp., failed to file the entry within the prescribed period, allowing Customs to forfeit the sugar in favor of the government.

Trade secretary Ramon Lopez said the proposed tariffication system will not be limited to traders but those who seek to import will be allowed to do so given a valid reason for bringing in the goods.

He said the tariffication will be similar to the proposed tariffication on rice.

“We will probably devise a system, assuming there will be a quota system, to make sure that imports will not flood the market to the detriment of farmers. We have to develop a fair system on how to allocate the quota,” Lopez said.

It will be the Sugar Regulatory Administration that will approve the sugar importation under a quota system minus the fees that usually come with sugar imports.

The price of local sugar now ranges from P2,400 to P2,900 per 50-kilogram bag, while the landed cost of imported sugar is P2,100 to P2,200 per bag.

Lopez said that could have been much lower at P1,300 to P1,400 per bag if only because of the set of fees collected by the SRA. His proposal has the support of the economic managers, although he is yet to speak with the SRA. “This has general acceptance and, of course, it is a broad concept, so there will be discussions on how do we move forward,” Lopez said.

“The principle is one that should result in lower cost of imported sugar, but being sensitive also to the price so as not to displace sugar producers. We have to be careful with that.”

Lopez said the government would have to ensure that the importation scheme would not favor any sector.

With Vito Barcelo

Ilocos Region, Cordillera Administrative Region, Central Luzon, Calabarzon, Mimaropa, Bicol Region and Western Visayas will be cloudy with isolated rains and thunderstorms caused by the southwest monsoon.

Mindanao and the Visayas will have cloudy skies with isolated rains and thunderstorms.

Cagayan Valley region will experience partly cloudy skies with isolate rain showers caused by localized thunderstorms.

The western section of Luzon will have strong gale from the southwest with rough to very rough coastal waters, making sea travel risky. PNA

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FRIDAY, AUGUST 10, 2018 mst.daydesk@gmail.com

Palace sees better relations with new UNHR chief

IN BRIEF DoJ OKs indictment vs 3 Valenzuela cops THE Department of Justice has approved the indictment of three Valenzuela City policemen and a civilian arrested for extorting money from junk shop owners in Barangay Ugong.

In a five-page inquest resolution, the DoJ ordered the filing of a case of robbery against Senior Police Officer 4 Serafin Adante, PO1 Rey Harvey A. Florano, PO1 Ryand Paul E. Antimaro who are all assigned at Precinct 8, and a civilian, Amado Baldon Jr. The four respondents were arrested in an entrapment operation after receiving a tip from a junkshop employee. They were caught receiving P200 marked money from the employee.

The employee said the police officers collect P200 to P500 daily from junkshop operators in the area.

He identified a certain Police Senior Inspector Adonis Paul G. Escamillan as the one who required them to pay the said “fee” otherwise they will be harassed.

Rey E. Requejo

‘Reso’ on Marcos victims’ fund OKd CONGRESS has adopted the House Joint Resolution No. 24 seeking to extend the validity and availability of the fund for the Marcos human rights violations victims with the Land Bank of the Philippines.

Zambales Rep. Cheryl Deloso-Montalla, committee on human rights chairman, said the resolution authored by Bayan Muna Rep. Carlos Isagani Zarate also seeks to authorize the Commission on Human Rights to administer the distribution of the funds to qualified victims or their heirs or representatives until December 2019.

The extension shall amend Republic Act No. 10368 or the Human Rights Victims Reparation and Recognition Act of 2013, and RA 10766 or the law extending the life of the Human Rights Victims’ Claims Board.

RA 10368 created the HRVCB to resolve, evaluate, process and investigate applications, and approve claims for the reparation of human rights victims subject to the provisions.

At least P10 billion was allotted for the reparation of the human rights victims.

Rio N. Araja

Leni explains side on media interviews THE camp of Vice President Leni Robredo on Thursday maintained that the statements they issued before the media on the electoral protest were meant only to counter the malicious and unfounded public remarks made by ex-senator Ferdinand Marcos Jr. in the same platform.

“In fact, the Presidential Electoral Tribunal referred to the public statements made

by Marcos when it imposed a P50,000 penalty on both parties for discussing details of the election protest publicly,” it said.

In a June 16 resolution, the PET took “particular note of the statements to the media regarding the condition of the ballot boxes undergoing revision (e.g., recently wet ballots, missing audit logs)” and it said that “such statement were circulated to insinuate fraud and anomalies attended the 2016 National and Local Elections, which could inevitably lead to the prejudgment of the Tribunal’s disposition of the case.”

According to Robredo, when the revision commenced on April 2, lawyer Vic Rodriguez, Marcos' spokesperson, had an interview with CNN Philippines, and then Imee Marcos went to the Supreme Court and entered the revision area with Marcos.

Marcos told the media that there were wet ballots and missing audit logs.

Rio N. Araja

MISDECLARED. Bureau of Customs Commissioner Isidro Lapeña shows to the media the forfeited P39.37 million worth of misdeclared sugar in 45 twenty-foot containers that were abandoned at the Port of Manila. Norman Cruz

Japanese firm to help HK prosecute gaming tycoon

By Rey E. Requejo

T

HE Universal Entertainment Corp. of Japan on Monday said it will help Hong Kong’s Independent Commission Against Corruption in the investigation and prosecution of Kazuo Okada who was arrested last week on charges of conspiracy to defraud in the former British colony.

UEC is Japan’s leading manufacturer of pachinko, slot machines, arcade games and other gaming products, and a publisher of video games, and has subsidiaries in the US and the Philippines.

Okada was its chairman of the board until June 29 last year.

“We will render our full support and assistance to the ICAC and other law enforcement authorities should the situation require,” Universal told the Tokyo stock exchange on Aug. 6.

In a disclosure, UEC said: “Upon our inquiries with the Hong Kong ICAC, it is given to understand that Mr. Okada has been arrested by the ICAC in relation to various corruption-related offenses.”

“Mr. Okada is currently released subject to bail conditions imposed on him by the ICAC,” it added.

Hong Kong’s Headline Daily and Chinese online publications earlier reported the arrest.

Reports said Okada was taken in along with a certain Li Jian for alleged

conspiracy to defraud the Hong Kongregistered family company Okada Holdings of 135 million yuan ($19.7M). Li Jian, reportedly a director of New Games Corp., allegedly received one million yuan from Okada, according to the same report.

ICAC investigates corruption cases in Hong Kong committed by public officials.

Crimes by private individuals while corruption of a public official is involved also falls within the jurisdiction of ICAC. Okada, the erstwhile top honcho of posh Okada Manila owner Tiger Resort Leisure &

Entertainment Inc., a subsidiary of UEC, is facing separate cases of estafa in the Philippines for allegedly embezzling more than $10 million in company funds. The complaints, filed by majority shareholders of TRLEI, are pending with the Department of Justice.

TRLEI has been asking the DoJ to set aside earlier resolutions issued by Parañaque City Prosecutor Amerhassan Paudac, which had been leaked, and its pertinent portions found their way to the social media accounts of Okada’s Korean girlfriend, Chloe Kim.

Arrest denied; case dismissed OKADA’S lawyers vehemently denied reports quoting Hong Kong-based sources about his supposed arrest on alleged conspiracy to commit fraud against his own company, Okada Holdings Limited.

In a statement, lawyer Rean Balisi declared that the said case was dismissed earlier as of May 2018, and that the case now reportedly with the Independent Commission Against Corruption is a mere rehash of what was already dismissed.

“The move of Okada’s detractors are merely retaliatory to the two criminal cases filed by Okada and his daughter, Hiromi Okada, against Jun Fujimoto, Makoto Takada, Atsunobu Ishida and several other individuals for fraud concerning 43.48 percent shares [worth approximately HK$6.18 billion] in a Okada Holding Limited, a company incorporated in Hong Kong, and a suspected case of ‘money laundering’ involving

Kazuo Okada

US$43,497,203.80,” Balisi stressed.

According to Balisi, who was in close coordination with Okada’s lawyers in Hong Kong, there are no charges filed against Okada.

The lawyer also maintained that Okada and his daughter Hiromi are in control of Okada Holdings, a family corporation, and that it is simply impossible and absurd for his client to defraud his own company.

DoJ downplays SC ruling on CPP-NPA THE Department of Justice on Thursday downplayed the decision rendered by a Manila City regional trial court declaring four alleged leaders of the Communist Party of the Philippines and its armed wing, the New People’s Army, as non-parties to its petition seeking the CPP-NPA as terrorist organizations.

Justice Secretary Menardo Guevarra explained that the government’s petition before Manila City RTC, Branch 19, seeking to declare the CPP-NPA as terrorist groups and linking more than 600 individuals to the communist group remains on track.

This came after the lower court declared former Bayan Muna Rep. Satur Ocampo and National Democratic Front of the Philippines peace consultant Rafael Baylosis, Victoria Lucia Tauli-Corpus and Jose Melencio Molintas as non-parties to the case.

Guevarra said that the development was

not a setback to the government's proscription case against the communist rebels.

“In the first place, the only real respondents in the proscription case are the CPP and the NPA. It is these entities, not the named individuals, who are the partyrespondents in the petition to declare them as terrorist organizations,” the Justice Secretary said.

Acting Prosecutor General Richard Anthony Fadullon, head of the DoJ’s prosecutorial arm, also belittled the ruling. “The declaration by the court of some personalities as non-parties will not have any bearing on the outcome of the case,” he said.

According to Guevarra, they only submitted to the court the list of individuals, including Ocampo, Baylosis, Corpuz, and Molintas, with alleged links to the CPP-NPA solely for the purpose of service of summons to the two organizations. Rey E. Requejo

SLOWDOWN. A vendor holds a calculator as he computes his earnings from selling clothing items at a market in Manila on Aug. 9, 2018. Philippine economic growth slowed sharply in the second quarter and fell well short of expectations as a result of policy decisions that included the shutdown of holiday island Boracay, with concern growing in the Philippines over inflation, which hit a five-year-high 5.7 percent in July, officials said. AFP

84-year-old Aussie professor barred from entering Philippines

By Vito Barcelo AN 84-YEAR-OLD Australian professor was barred from entering the country when he landed at the Ninoy Aquino International Airport last Thursday night because he was listed in the bureau’s Black Order for participating in political rallies in 2015.

Gill Hale Boehringer was still being held at the Naia’s dayroom after a doctor advised immigration officers that he could not leave the country yet as the elderly professor is not fit to travel.

Boehringer arrived in Manila past midnight at the Naia Terminal 1 from Guangzhou, China.

“He was excluded for being blacklisted. Boehringer was the subject of an order issued last year prohibiting Boehringer’s entry upon receipt of a report and recommendation for blacklisting from government intelligence sources,” BI spokesperson Dana Krizia Sandoval said.

Boehringer reportedly participated in a rally in November 2015 which is “in clear violation of the BI Operations Order prohibiting foreigners in engaging in political activities in the Philippines.”

But Sandoval clarified BI’s policy on blacklisting of foreign nationals, saying foreigners may be included in the blacklist “in the interest of public safety.”

She said they receive information on foreign nationals through various sources, including other government agencies and foreign counterparts “to ensure that no undesirable alien enter or remain in the country,” and that they immediately take action on reports on foreign nationals violating immigration laws.

Foreign nationals found to possess grounds for undesirability when in the country will be deported . However, if the foreigner is outside the country, the process is summary, and he is immediately included in the BI’s blacklist.

“Inclusion in the blacklist means that the subject is a threat to public order and

safety, and blacklisting minimizes that risk,” Sandoval said.

She added that foreigners are afforded due process by allowing them to file a request for lifting to the Immigration commissioner.

“If he submits sufficient proof to reverse the blacklist, it may be lifted accordingly,” Sandoval said.

In 2014, nine foreign journalists were also similarly included in the blacklist for heckling then President Benigno Aquino III. The blacklist, however, is being questioned by lawyers of the Australian-American professor and human rights advocate.

MALACAÑANG on Monday expressed optimism that the Duterte administration will forge better relations with the next United Nations' High Commissioner for Human Rights.

Former Chilean president Michelle Bachelet was chosen by UN Secretary-General Antonio Gutteres to be the next UN rights chief, following consultations with the chairs of regional groups of member-states. On Wednesday, he formally notified the UN General Assembly of the selection.

In a press conference, Presidential Spokesman Harry Roque congratulated Bachelet. "She was elected and we congratulate her."

Roque said the election may have been the result of a "compromise," after the withdrawal of the United States from the UN Human Rights Council.

"I would say that the entire community of states perhaps elected her for a reason, noting that the United States opted to withdraw from the UNHRC. I think the election of the new high commissioner of human rights is a result of compromise," he said.

"We're optimistic we will have better relations with the new high commissioner," he added.

Bachelet, who was a victim of torture under the dictatorship of Augusto Pinochet, first served as president of Chile from 2006 to 2010. She led U.N. Women, a body for gender equality and the empowerment of women, between 2010 and 2013, before returning to Chile where she again served as president from 2014 to 2018.

Bachelet will succeed Jordan's Zeid Ra'ad al-Hussein, who will step down by end of August after a four-year stint at the UN office.

Zeid was a critic of President Rodrigo Duterte's anti-illegal drugs policy.

In response, Duterte repeatedly slammed Zeid, who, along with other UN officials, had alleged that the killings of drug personalities were sanctioned by the government.

In March, the Department of Justice filed a petition in court accusing a Filipina special rapporteur of terrorism and alleged membership in the communist guerrilla movement, which prompted Zeid to ask Duterte to undergo a psychiatric evaluation.

Uson slapped with ‘written reminder’ THE Presidential Communications Operations Assistant Secretary Mocha Uson has been slapped with a mere “written reminder” for v i o l a t i n g the code of ethics for go v e r n m e n t officials with her controversial federalism video.

In an interview, Communications Undersecretary Lorraine Badoy admitted that Uson violated Republic Act No. 6713, or the “Code of Conduct and Ethical Standards for Public Officials and Employees.”

“Yes, ethical standards have been breached…Well, if we look at RA [6713], yes,” Badoy said in a television interview.

But at the same time, Badoy defended Uson’s actions.

“I think Asec Mocha reminds us of a lot of hypocrisies in our society and she makes us face them, the things inside ourselves, because we are such a hypocritical society.”

It was Badoy who issued the “written reminder” to Uson on orders of Communications Secretary Martin Andanar.

“He asked me to, as head of GAD [Gender And Development] of the PCOO, to give her a written reminder,” said Badoy.

“She has to align with the laws regarding gender and development, all the laws and the rules,” she added.

Badoy was given the instructions during a meeting where they were discussing budget matters. Uson was not present at the time.

Badoy also admitted that other PCOO officials were “shocked” by Uson's video with blogger Drew Olivar, a video taken inside Malacañang grounds.

“As expected, some of us are really shocked by it and we wish that she would have been a bit more circumspect but as the President said, she does have the right to free expression,” said Badoy.

On Tuesday, Philippine Information Agency director-general Harold Clavite, called on Uson to apologize and go on leave. The PIA is also under the office of the PCOO.

A4

Opinion

FRIDAY, AUGUST 10, 2018

mst.daydesk@gmail.com

A challenge to the opponents of federalism YUNG NAGPAPATAKBO NG SISPENSEES TEMA ANG PROBLEMA. This is wrong on at least two FR. RANHILIO major counts: We have changed the CALLANGAN people running the system many times over: from Marcos, to Cory, AQUINO to Ramos, to Erap to GMA, to PNoy HOODWINKING THE PEOPLE... and to Digong. Each promised to The ConCom was constituted to draft rid the government of inefficiency None delivered a constitution for a federal Philippines. and corruption.

That is exactly what we did. But there satisfactorily on these promises. In seems to be a concerted, well-oiled, fact the very administration that perhaps even richly financed endeavor prided itself in bringing about a regime of righteousness has turned out to be to derail it.

• Federalism is what we propose as one riddled with corruption but as a solution to the plurality of ethnic successful in concealing wrongdoing.

The point is that human conduct IS and cultural groups in the Philippines, long aspiring for autonomy, the real ALSO CONDITIONED BY STRUCexercise of self-determination and of TURES. To say that it is enough to self-governance, while keeping the have good people to make good government is to speak with unpardonONE REPUBLIC intact.

What do its opponents have as an able ignorance. Structures orientate human conduct. alternative that is And that is structural, perwhat federalism manent and longaddresses—the lasting? structure.

So • Federalism is We at the Con-Com what is the alterwhat we propose native of its oppoas a means of have done what we nents? empowering the were tasked to do.

• Opponents of regions and allowfederalism point ing them to flourto what they calish by creatively, culate are added studiously and diligently applying the resources both costs. That may well be true, there will human and material of their region to be added costs, as there are added costs when you want anything improved. In its own development.

How has the present unitary form of our fallen world, the love of money can government, no matter the decentrali- be the root of so much evil, but money, zation of the Local Government Code it is sadly true, is also what gets things been sufficiently attentive, responsive going. Furthermore, why do they not point to the fact that when you drastiand relevant?

• Federalism is what we propose as cally decrease the need for a fat bureaua solution to the inefficiency and un- cracy on the national (federal) level, responsiveness of a Manila-based gov- you transfer some of the resources you ernment that is often oblivious to the need on that level to be able to fund and problems and challenges of the prov- finance the resources of the region?

How do the opponents of federalinces, and incapable of responding to ism propose to bring about necessary exigencies with promptitude.

What do its opponents offer as an change FREE OF CHARGE? How alternative? We have changed gov- much do we presently spend on underernments and officials and personnel secretaries, assistant secretaries and a many times over. Is it not clear that coterie of consultants, technical advisthe problem is structural? And if the ers and retainers in virtually every deproblem is structural, should not a partment of the national government to run an inefficient, unresponsive structural solution be set in place?

The pseudo-argument has been pop- system? ularized: HINDI YUNG SISTEMA, Turn to A5

Adelle Chua, Editor

EDITORIAL

Disappointing growth figure

T

HE economy grew more slowly in the second quarter of the year, a disappointing development considering that the gross domestic product had expanded by at least 6.5 percent for 10 consecutive quarters.

Economic Planning Secretary Ernesto Pernia was circumspect in his assessment of the first-quarter GDP figures, but it was clear that certain sectors in the economy were slowing down the expansion.

The economy grew “just” six percent in the April-June period, the weakest in three years, after expanding by an adjusted 6.6 percent in the first three months of 2018.

Pernia conceded that the

slowdown is partly due to “policy decisions undertaken that are expected to promote sustainable and resilient development.” He referred to the temporary closure of Boracay Island in April after President Rodrigo Duterte described the famous tourist destination a “cesspool.”

Boracay attracts about two million tourists each year and pumps roughly $1 billion into the economy in terms of earnings from hotels, airlines, restaurants and other entertainment sources. Its closure led to canceled hotel bookings and airline tickets, displaced thousands of workers on the island and virtually killed the local economy.

Another dampener is agriculture’s lethargic 0.2-percent growth. Agriculture production has remained stagnant for so long. The sector’s failure to raise domestic production of

rice, meat and fish is greatly causing a spike in inflation, which in July accelerated to a more than five-year high of 5.7 percent from 5.2 percent in June.

The mining sector, once a significant contributor to the GDP, has also lost its luster.

Pernia cited that the closure of several mining pits and the excise tax on non-metallic and metallic minerals led to the sector’s contraction of 10.9 percent.

The Philippines, despite the GDP letdown, remains one of the best-performing economies in Asia behind Vietnam’s 6.8 percent and China’s 6.7 percent in the same quarter. The economy can still regain its robust pace. But economic managers must see to it that the wheels of certain sectors are oiled Z to assure the smooth ride.

Dynamite duo Perhaps Olivar was told to hit Robredo because she spoke out against alleged extrajudicial killings of drug suspects. As everyone knows, EJK is a sensitive issue in President Duterte’s ALEJANDRO bloody war on drugs.

DEL ROSARIO Sharing a ride THERE is a dynamic duo in Batman The government’s latest plan to ease and Robin. Then there is the dynamite traffic on Edsa is noteworthy. The rideduo of Mocha Uson and Drew Olivar. sharing scheme bans driver-only pasDynamite because the two, together, senger cars from the major artery that are imploding and bringing down the funnels vehicles from the NLEX and Duterte administration with their ex- Caloocan along the cities of Quezon plosive, erratic ways.

City, San Juan, Mandaluyong to the After his lewd “pepe, dede” song- central business district of Makati. and-dance number to promote public This early, motorists are protesting awareness of federalism, Olivar outdid the High Occupancy Vehicle or HOV himself with expletives against Vice rule patterned after traffic laws in the President Leni Robredo. The Presi- United States. But then, the local law redent had called the Veep “unfit and stricts private cars with only the driver incompetent” to be president but he in them during the rush and peak hours never used his favorite expletive about of 6 am to 9 am. The protesters claim it someone’s mother would be difficult being a slut. But to have others join Olivar did—he you as passenger spewed expleparticularly if you Uson and tives. Olivar was don’t know them seen and heard on Olivar are bringing that well. But this a blog video file can done through calling Robredo ‘s down the Duterte neighborhood mother unspeak- administration with groups or associaable names. tions and finding their explosive ways.

Olivar was also out who among quoted as saying them, including Robredo’s child family members studied in Harare going in the vard using “the same direction of people’s money” and the VP went on a offices or schools. junket to South Africa.

Anyway, the MMDA dry run banIbrarra Gutierrez III, the Vice ning drivers only is confined to Edsa.

President’s spokesman and legal Motorists without any passenger can counsel, said he is preparing a legal suit still use alternate side roads. They comagainst Olivar for oral defamation and plain, however, that the side streets are slander. He also denied Olivar’s claim still clogged with illegally parked vehias he said Robredo’s daughter went to cles, including jeepneys and pedicabs.

Harvard at the family’s own expense The root of the problem is really the and the VP’s South African trip was not sheer volume of vehicles in Metro Maa junket. She participated in a human nila. Even middle-class families are rights conference at the invitation of buying at least two cars to get around the host government.

Turn to A5

BACK CHANNEL

Davide says ‘no’ to Charter change VIRTUAL REALITY TONY LOPEZ “THERE may be no more need for the Senate and the House of Representatives to consider any further Charter change, especially on the shift to federalism. The Supreme Court en banc had effectively delivered a mortal blow—a coup de grace—on federalism by demolishing or striking down the principal reason given by its proponents for its adoption.”

So said former Chief Justice Hilario Davide during the July 17 Senate

ing the right of the LGUs to a genuine hearing on charter change. He said: “What is the principal reason? Re- share in national funds and resources. moving Imperial Manila and recogniz- The Court ruled that the 40 percent IRA for the LGUs shall be based on all ‘national taxes,’ not only on ‘internal revenue taxes.’ Thanks to the Supreme Court.”

According to Davide, the LGUs The retired Supreme can now collect their shares in all the Court chief justice gives national taxes from 1992, upon the effectivity of the Local Government a stinging criticism to Code. Under this decision the amount the draft constitution owed by the national government to the submitted by the LGUs effective 1992 until the present would reach P1.5 trillion. Concludes consultative committee.

Davide: “The Cha-Cha train can now permanently stop.”

Turn to A5 Rolando G. Estabillo Publisher

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Opinion

FRIDAY, AUGUST 10, 2018

PNoy is wrong CROSSROADS

JONATHAN DE LA CRUZ FORMER President Benigno Aquino III has been quoted as saying that he frowns on the idea of our entering into a possible joint exploration with China, in any manner or form, in the South China Sea/West Philippine Sea (SCS/ WPS), disputed or otherwise.

He then proceeded to lambast President Duterte for even entertaining the idea of a 60-40 sharing arrangement even in undisputed areas controlled by the Philippines.

Said BSA III: “We are not obliged to enter into a sharing scheme for exploration with China...the country has the exclusive rights over the West Philippine Sea..and even if the administration sees this as a ‘practical solution” to the ongoing dispute over the area we should be wary of the Chinese...”

It is a pity that BSA III should be saying these things after his administration waylaid earlier efforts for the country to seriously engage in, one, knowing and eventually developing whatever resources are found in the SCS/WPS and, two, finally inking a Code of Conduct in the disputed area involving China and the 10-member Asean regional grouping.

Like a hacendero who has outlived his usefulness but continues to believe otherwise, he is now trying to inject himself all over again into this very critical matter on the basis of false, misleading and ultimately wrong assumptions.

If BSA III does not realize that his statements have become an integral part of the crude effort to again waylay what could eventually be a lasting solution to the decades old impasse over conflicting claims in the area, then he does not deserve any kind of attention at all. Especially since it was issued in the midst of another round of China-bashing by the usual suspects over the SCS/WPS dispute and in the run-up to the meeting between the Chinese Foreign Minister and his counterparts in Asean. It is good that despite his vain attempt to put a cloud over the meeting, the participants were able to agree on a draft Code of Conduct which has been long in coming and eagerly awaited by the parties.

In any event, if BSA III really wants to inject himself in the SCS/WPS debate, it may be wise for him to consider the

Davide...

From A4

Davide delivered a stinging criticism of the draft constitution produced by the 25-person Consultative Committee of President Duterte.

“The Charter change and federalism proposed in the CCCOM would not bring (to the people) the manna from heaven, but tyranny, injustice, corruption, poverty and penury,” Davide said.

He added: “What the Consultative Committee produced is not just a Federal Republic of the Philippines through the division, breaking up or splitting of the one-singlenation, the Philippines, into 18 federated regions, composed of the 16 administrative regions and the autonomous regions and the Cordillera Autonomous Region, with provisions that would strictly adhere to the traditional federal setup. It overhauled the 1987 Constitution through massive restructuring or surgery, and incorporating principles, concepts, etcetera, etcetera which may be foreign to the federal system, and even erect a weak democracy made weaker yet by some undemocratic ingredients spiced with some elements of fascism and totalitarianism.

Three provisions build or support a dictatorship: Section 2 of Transitory Provisions, Section 16 of Article XIX, and Section 4 of Article XXI. The first consists of one whole article, Article XII of Transitory Provisions.

A Federal Transition Commission is to be composed of the President himself, as the chairman, and 10 others appointed by the President from a list of personalities submitted by a search committee.

But the members of the search committee are themselves appointed by the President.

Among others, the commission is empowered to organize and reorganize

A challenge...

From A4

MORE IMPORTANTLY, why has NO FEDERAL COUNTRY ever regretted its federal configuration? I have yet to hear of a country that is federal wanting to re-establish a unitary state!

It is truly despicable when a proposal that holds real promise is interdicted by less than honorable and intelligent reasons. These include governors who oppose federalism because they do not want their sway over their provinces that they take to be their fiefdoms.

These include senators who hate to see

statements of a fellow traveller on the SCS/WPS dispute, Acting Chief Justice Antonio Carpio, who has transformed himself into the go-to guy’ within the dwindling ranks of the anti-China, anti-Duterte groups involved in this issue.

For somebody who is presumably more knowledgeable, definitely wiser and more passionate about this issue, the Acting Chief Justice has been more circumspect and clear-minded than BSA III and his closest confidants.

Noted the Acting Chief Justice: on the matter of joint exploration in the contested areas, “Government should make sure that in the proposed joint exploration, the country’s sovereignty will not be compromised and the proposed 6040 sharing arrangement complies with and is well within the Constitutional limits..” Carpio advised that he is ready

Like a hacendero who has outlived his usefulness but continues to believe otherwise, he is now trying to inject himself all over again into this very critical matter on the basis of false, misleading and ultimately wrong assumptions. to support the project “if the government would ensure that no sovereignty would be surrendered and the Chinese respect the constitutional limits.”

On that note we should now proceed with all deliberate speed to clear the air, so to speak, and come to terms with the concerns of China and our brothers in Asean.

On our part the proper, responsible and sustainable development of the resources in the contested areas should animate our processes. After all, the benefits from this positive development cannot be sneezed at. No less than the United States Geological Survey has crowed over the potential oil and gas reserves not to mention the aquatic and related resources in the area.

Based on the latest USGS research,

A5

mst.daydesk@gmail.com

Duterte’s war on oligarchs the South China Sea region holds reserves of some 11 billion barrels of oil and 190 trillion cubic feet of natural gas.

China’s National Offshore Oil Company—the state-owned energy company responsible for offshore energy exploitation—provides an even much rosier estimate, predicting the region holds some 125 billion barrels of oil and 500 trillion cubic feet of natural gas.

These are not insignificant figures in a region which is considered “..woefully dependent on imported oil and gas...”

Recent studies show that China is the second-largest consumer of oil after the United States and continues to be critically dependent on imports to feed its energy demands. On the other hand, Japan, South Korea, India and six of the 10-member Asean are likewise net oil and gas importers.

Any serious effort to develop such huge reserves in areas close to home, as it were, should be welcome news indeed. The other benefits of a stable and peaceful SCS/WPS environment governed by a rule-based Code of Conduct are equally considerable and should be earnestly pursued with all deliberate speed.

We are talking here of the marine and aquatic resources known to be abundant in these waters. Even the minerals, metallic and non-metallic, which some geologists and marine scientists claim would also be considerable would be a boon to the economic and social well-being of the peoples in the countries ringing the area. And we are not yet talking here of the boost to international trade which a calm and collected SCS/WPS area brings.

Noted a recent independent study by a Singapore-based think tank: “The territorial disputes over the South China Sea are about much more than energy, marine and other resources buried in the seabed.

More than $5 trillion in global trade passes through the strategic waterway annually, including the vast majority of the imported oil on which Japan, China and South Korea rely. These countries together with the United States and, of course, the Asean see control of the waterway as a key security concern— not just in terms of national defense but also in terms of energy and economic security.”

Need we say more about the damage which BSA III’s wrong view of things can result in if we simply allow it to be unquestioned? Huwag naman.

and fully establish the federal government and the governments of the federated regions. It shall prepare a transition plan which, among others, can remove all in the government service, thereby violating the security of tenure guarantee of all government officials and employees.

Section 2 of the Transitory Provision provides: The incumbent President is prohibited from running as president in the 2022 election under the Constitution. But what complicates the situation is that while Section 1 of the article expressly provides that the term of the President and the Vice President shall end on 30 June 2022, which shall not be extended, there will be an election for the transition president and transition vice president, who shall run in tandem—The word “in tandem” is now being constitutionalized—on a date that depends on when the CCCOM will be ratified by the people. It would be held six months after ratification, which is presumed to be some years before 2022.

It would thus obviously follow that after the ratification and before 30 June 2022 we will have two presidents, the incumbent will serve until 30 June 2022 and the transition president, if he will not be the incumbent, who will serve until the end of the transition with the transition President exercising all the powers of the President under the 1987 Constitution.

The catch here is that the incumbent President is not prohibited from running as transition President.

To avoid therefore the anomaly of having two presidents and vice presidents during the transition period, the incumbent is allowed to run as transition president but not for president under the new Federal Constitution. He will surely win.

He would choose former Senator Bongbong Marcos as running mate. And since they would run in tandem with the vote for the president counted in favor of the

vice president, Marcos will easily win.

Then the incumbent President will become the first president of the federal system, and Marcos too, the first vice president. Then in the first election under the federal system, if there will be any change in the proposal, Marcos can run for president. Why then hold election for transition president and transition vice president? Considering the powers of the transition president, it would still not be unlikely that the transition plan and his power could make him rule beyond 30 June 2022.

Another provision gives the President control of the federated regions.

Section 16 of Article XIX on national security and public order gives him the power to intervene and take all the measures necessary and proper in case any Federated Region fails to comply with its obligation as provided for in the Constitution which seriously undermines the sovereignty, territorial integrity, economy or the unity of the federal republic.

The reality of this dictatorial rule is further bolstered by a doctrine of ‘lawless violence’ as a ground for the declaration of Martial Law. Under the present Constitution, Article VII, Section 18, there are only two grounds: invasion on rebellion—Section 18, Paragraph 6 of Article VIII of CCCOM—the grounds are invasion, rebellion or lawless violence. The President can easily justify ‘lawless violence’ at any time.

The third undemocratic provision is the total perpetual deprivation of the people to amend or revise the Constitution in respect of ‘the democratic and republican character of the government in a federal structure, its indissolubility and permanence.’

Section 4 of Article XXI. In the language of said section, ‘these shall not be subject to amendment or revision.’”

the composition of their chamber altered—because many of them win as senators only because they may have the national plurality of votes but miserably unable to muster the support of their constituencies. This will include the bootlickers and sycophants of the political opposition who oppose not because they have anything more practicable and more helpful to propose but because they must always oppose.

We at the ConCom have done what we were tasked to do. We have written as best a draft charter as our best lights have allowed us to. If the President believes that federalism is good for the country—as he has often announced—

then he must rally his allies and marshall the powers of the Executive Branch to convince the people about it. He must silence the members of his official family who do not share his position and, if necessary, send them packing. The government cannot be credible unless it speaks with one voice, not in some confusing falsetto. But if obstructionists succeed in stymying our efforts, that will not be our loss, but the nation’s, and that would really be sad and yes, infuriating.

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The difference between political power and any other kind of social “power,” between a government and any private person or organization, is the fact that a ERIC government holds a legal monopoly on JURADO the use of physical force.

What is economic power? It is the ALLOW me, dear reader, to explain the power to produce and to trade what difference between political and eco- one has produced. In a free economy, nomic power, according to philosopher where no person or group of persons can use physical coercion against anyone, and novelist, Ayn Rand.

If a small group of persons were al- economic power can be achieved only ways regarded as guilty, in any clash by voluntary means: by the voluntary with any other group, regardless of the choice and agreement of all those who issues or circumstances involved, would participate in the process of production you call it persecution? If this group and trade. In a free market, all prices, were always made to pay for the sins, wages, and profits are determined—not errors, or failures of any other group, by the arbitrary whim of the rich or of would you call that persecution? If this the poor, not by anyone’s “greed” or by group had to live under a silent reign of anyone’s need—but by the law of supply terror, under special laws, from which all and demand. The mechanism of a free other people were immune, laws which market reflects and sums up all the ecothe accused could not grasp or define nomic choices and decisions made by in advance and which the accuser could all the participants. Persons trade their interpret in any way he pleased—would goods or services by mutual consent to you call that persecution? If this group mutual advantage, according to their were penalized, not for its faults, but own independent, uncoerced judgment. for its virtues, not for its incompetence, A person can grow rich only if he is able but for its ability, not for its failures, but to offer better values—better products for its achievements, and the greater the or services, at a lower price—than othachievement, the greater the penalty— ers are able to offer.

Wealth, in a free market, is achieved would you call that persecution?

If your answer is “yes”—then ask by a free, general, “democratic” vote— yourself what sort of monstrous injus- by the sales and the purchases of every tice you are condoning, supporting, individual who takes part in the ecoor perpetrating. That group is Filipino nomic life of the country. Whenever you buy one product businesspersons, rather than anothsuch as Roberto er, you are voting Ongpin, the Rufifor the success of no-Prietos, and the some manufacLopezes. Duterte They are the symbol turer. And, in this has called them of a free society. If type of voting, the oligarchs and every person votes elite that he must and when they perish, only on those matdestroy. civilization will perish. ters which he is Every ugly, qualified to judge: brutal aspect of on his own preferinjustice toward ences, interests, racial or religious and needs. No one minorities is being practiced toward businesspersons. has the power to decide for others or to Every movement that seeks to enslave a substitute his judgment for theirs; no country, every dictatorship or potential one has the power to appoint himself dictatorship, needs some minority group “the voice of the public” and to leave the as a scapegoat which it can blame for the public voiceless and disfranchised.

The difference between economic nation’s troubles and use as a justification of its own demands for dictatorial power and political power is this: ecopowers. In Soviet Russia, the scapegoat nomic power is exercised by means of a was the bourgeoisie; in Nazi Germany, positive, by offering persons a reward, it was the Jewish people; in the Philip- an incentive, a payment, a value; popines, aside from drug users, it is busi- litical power is exercised by means of a negative, by the threat of punishment, nesspersons.

The legal treatment accorded to actual injury, imprisonment, destruction. The criminals is much superior to that accord- businessperson’s tool is values; the polied to businesspersons. The criminal’s tician’s tool is fear.

Evading the difference between prorights are protected by objective laws, objective procedures, objective rules of duction and looting, politicians called evidence. A criminal is presumed to be the businessperson a robber. Evading innocent until he is proved guilty. Only the difference between freedom and businesspersons—the producers, the compulsion, they called him a slave providers, the supporters who carry our driver. Evading the difference between whole economy on their shoulders—are reward and terror, they called him an exregarded as guilty by nature and are re- ploiter. Evading the difference between quired to prove their innocence, with- pay checks and guns, they called him out any definable criteria of innocence an autocrat. Evading the difference beor proof, and are left at the mercy of the tween trade and force, they called him a whim, the favor, or the malice of any tyrant. The most crucial issue they had publicity-seeking politician, any schem- to evade was the difference between the ing statist, any envious mediocrity who earned and the unearned.

Some of you have said that you saw no might chance to work his way into a bureaucratic job and who feels a yen to do difference between economic and political power, between the power of money some monopoly-busting.

All the evils, abuses, and iniquities, and the power of guns—no difference popularly ascribed to businesspersons between reward and punishment, no difand to capitalism, were not caused by ference between purchase and plunder, an unregulated economy or by a free no difference between pleasure and fear, market, but by government intervention no difference between life and death. I into the economy. The giants of Filipino hope you are learning the difference now.

Businesspersons are the one group business—Roberto Ongpin, the RufinoPrietos, and the Lopezes—were self- that distinguishes capitalism and a free made persons who earned their fortunes society from the totalitarian statism that by personal ability, by free trade on a is swallowing the rest of the world. All the other social groups—workers, farmfree market.

As a group, businesspersons have ers, intellectuals, professionals, scienbeen withdrawing for decades from tists, soldiers—exist under dictatorthe ideological battlefield, disarmed by ships, even though they exist in chains, the deadly combination of altruism and in terror, in misery, and in progressive pragmatism. Their public policy has self-destruction. But there is no such consisted in appeasing, compromising, group as businesspersons under a dictaand apologizing: appeasing their crud- torship. Their place is taken by armed est, loudest antagonists; compromis- thugs: by bureaucrats and commissars. ing with any attack, any lie, any insult; Businesspersons are the symbol of a apologizing for their own existence. free society. If and when they perish, Abandoning the field of ideas to their civilization will perish. But if you wish enemies, they have been relying on lob- to fight for freedom, you must begin by bying, on private manipulations, on pull, fighting for its unrewarded, unrecogon seeking momentary favors from gov- nized, unacknowledged, yet best repreernment officials. Today, the last group sentatives—Filipino businesspersons. one can expect to fight for capitalism is eric.jurado@gmail.com the capitalists.

FROM WHERE I STAND

Dynamite...

From A4

the number coding scheme caused by the government’s lack of master plan for an efficient public rail transport system. Daily breakdown is the norm of the Metro Rail Transit. Last Wednesday, MRT passengers had to open their umbrellas inside the train because of rain going through the roof of the carriages.

This is government efficiency for you.

If the President fired the whole board of the Philippine Village for alleged graft, he can do the same to all the government officials of the Metro Rail Transit for monumental mismanagement.

Organized inefficiency Aside from the badly-run MRT, there is also organized inefficiency in rice sales and distribution. The price of

domestic rice is three times more than the cost of imported rice from Vietnam, according to market analysts. The President has warned distributors that he would go after them for hoarding the basic commodity and driving prices up.

But then, sacks of imported rice were soaked by continuous rains at the pier because Customs officials didn’t cover them with heavy canvas. Left wet, the rice was spoiled instead of being consumed by poor families who can’t afford the commercial variety. It’s about time the President called to task officials of the Department of Agriculture and the National Food Authority for gross negligence—the DA for not having any visible program to spur rice production after almost three years of the Duterte administration and the NFA for failing to go after rice hoarders and to put a lid on spiraling rice prices.

News

A6

FRIDAY, AUGUST 10, 2018 mst.daydesk@gmail.com

Escudero wants data on PH unemployment rate SENATOR Francis Escudero wants the economic team to come up with the data on the country’s unemployment rate that would accurately reflect the number of people without jobs all over the country.

“What’s the real picture? How many Filipinos are really strong, in the right age who are currently capable of working?”

Escudero asked the country’s economic managers for clarification on Wednesday during the Development Budget Coordination Committee briefing.

The definition of unemployment, Escudero said, is currently used by the government is somehow confusing since it does not include those who are unpaid family workers.

“I’ve been sitting in this committee for quite some time and I’ve always been asking the National Economic Development Authority to come up with real unemployment figures because during GMA’s [Gloria Macapagal-Arroyo’s] time, we shifted the definition and followed International Labor Organization’s standards. And that brought down the unemployment rate immediately to 7 percent from 11 percent,” Escudero said.

“This is because the ILO definition of employed, which we adapted and which

Cop tagged as protector of illegal drugs slain

By Francisco Tuyay A UNIFORMED policeman tagged as dealer and protector of illegal drugs was killed after he challenged his colleagues in a shootout during a buy-bust operation in Infanta, Quezon while seven other drug suspects were arrested in separate police operations in Cavite and Bacolod City Thursday.

The slain police officer was identified as PO2 Ian Rey Abitona, assigned at the Infanta Municipal Police Station.

The killing of Abitona came after joint personnel from the Crime Intelligence Task Force, Philippine Drug Enforcement Agency and Quezon police operatives conducted a buy-bust against the policeman tagged as involved in the proliferation of illegal drugs in Infanta.

Reports said Abitona was sporting a light blue t-shirt with “Pulis” marking when meeting a prospective buyer of illegal drugs, not knowing he was dealing with a narco operative as poseur buyer.

Investigations said the police officer sensed he was transacting with a police agent that prompted him to draw his issued firearm and fired towards the operating elements, sparking an ensued shootout killing Abitona on the spot.

Authorities said the operation stemmed from several complaints via text messages the CITF had been receiving, alleging that Abitona was a protector and dealer of shabu in Infanta, Quezon.

The police officer was also reportedly using his civilian assets in recycling illegal drugs and apparently a suspect in killing some of his asset/ runner for failing to remit proceeds in the illegal drug business.

A validation through intelligence records from the Quezon police provincial office revealed that the police officer was involved in illegal drugs and included in the province watchlist.

Abitona was earlier relieved from his post as intelligence and operative of the Drug Enforcement Unit and reassigned as Desk Officer of Infanta MPS. However, despite his present position, Abitona was still monitored to be involved in illegal drugs.

we are still using today, would include unpaid family workers, as well as those who worked for at least one hour in the previous week,” he added.

According to the Philippine Statistics Authority, employed persons include those who work even for an hour during the past week that the survey was conducted, unpaid family members or those who work without pay on a business operated by a member of the same household, and those who have a job but not at work due to temporary illness, vacation, among others.

On the other hand, unemployed persons include all individuals, who are 15 years old without work, currently available for work and are willing to take a paid employment, and those who are actively seeking for a job, as defined by the PSA. Socio-economic Planning Secretary Ernesto Pernia said in 2017, unemployment rate was recorded at 5.7 percent, or about 2.4-million individuals, but this had gone down to 5.4 percent in the first half of 2018.

“But what is really the level of unemployment instead of making us all feel better that it’s going down. It’s only through the gaps and cracks of the nitty-gritty of defining it that it actually went down,” Escudero said. Macon R. Araneta

REGULARIZATION OF EMPLOYEES.

Senator Nancy Binay and Senator Joel Villanueva during an inquiry Thursday regarding the resolution directing the committee on labor, employment and human resource development on issues arising from the regularization of employees with a view to address gaps therein through legislation or policy.

Sonny Espiritu

Ombudsman asked: Probe NPF anomalous contract

By Macon Ramos-Araneta

S

ENATOR Win Gatchalian has called on the Ombudsman to investigate the alleged anomalous deal between the Nayong Pilipino Foundation and Landing Resorts Philippines Development Corp. that could cost the government more than ₱25 billion lost revenue over the next 50 years.

The deal involves a lease granted by the NPF Board of Trustees to LRPDC over 9.57 hectares of NPF property at the Manila Bay Reclamation Area, Parañaque City.

A $1.5 billion integrated resort and casino development will be constructed on the said place.

The Commision on Audit 2017 yearend audit report on NPF showed that the trustees passed Board Resolution No. 410-A-110707 on November 7, 2017.

It set the monthly rate of the lease at ₱150 per square meter (sq. m.) or ₱14,358,600 per month.

Gatchalian said the amount was ex-

clusive of tax, with an additional lease equivalent to 10 percent of net profits, exclusive of tax derived from park operations of the Nayong Pilipino park.

The resolution set the lease period at 50 years with an option to renew for another 25 years.

NPF Executive Director Maria Fema Duterte, a distant relative of the President, has alleged that the government stands to lose more than ₱25 billion over the initial 50-year period of the lease, citing yearly losses of ₱517 million after comparing the ₱150 per sq. m. rate granted to LRPDC to the prevailing ₱600 per sq. m. rate charged to the

Pag-IBIG cuts non-life premiums

BRAVERY IN ACTION. NCRPO head Chief Supt. Guillermo Eleazar and QCPD

District Director Chief Supt. Joselito Esquivel hand out awards Thursday to four police officers for displaying bravery while on duty in rites held at Camp Karingal. One of the awardees (in photo receiving the award) is POI Richard Abuan getting his Medal of Merit. Manny Palmero

Riders urge DOTr to let motorcycle taxis operate A LARGE group of motorcycle riders and Quezon City Rep. Winston Castelo on Thursday called on the Department of Transportation to allow the operation of motorcycle taxis.

At a news conference in Quezon City, George Royeca of Transport Watch urged Transportation Secretary Arthur Tugade to heed the directive of Castelo to amend a department order classifying four-wheeled vehicles as the only allowed transportation network vehicle services.

operators of nearby Solaire Resort and Casino and Okada Manila.

President Rodrigo Duterte on Monday fired all board members of NPF for approving the LRPDC deal, which the Palace said was “grossly disadvantageous” to the government.

Gatchalian noted that allegations of corruption surrounding the LRPDC deal had been circulating since earlier this year.

He said executive director Duterte had claimed that NPF chairperson Patricia Yvette Ocampo and several other board members flew to Jeju Island in Korea in September last year, without travel authorities from the Palace, to strike a deal with LRPDC. The CoA report said the NPF board approved the LRPDC deal “without conducting an independent appraisal and advertisement to the public to solicit offers from other interested parties to ensure that the proposal is the most advantageous to the government.”

He said Transport Watch, Riders of the Philippines, Motorcycle Rights Organization, Bulacan Riders Federation and Arangkada Riders Alliance have gathered 18,000 signatures in their online petition to urge DoTr to amend its department order.

“I will initiate a hearing to ask DoTR for ignoring us. We cannot afford further delay. Six months ago, transportation officials promised me to come up with up with a decision on the regulation of motor bikes [as an-

other TNVS], to no avail. They should have decided on that in June,” Castelo told the forum.

“People are suffering. Businesses are ‘tremendously’ losing opportunities tantamount to P3 billion. Students and workers are sacrificing [too much],” he said.

With the regulation of motorbikes as another mobile-app based TNVS, “we can reduce traffic and create employment to (sic) millions of motorcycle owners,” he added. Rio Araja

PAG-IBIG Fund reduced the insurance premiums by 58 percent after it successfully concluded the bidding for the Non-Life Insurance Coverage (Fire and Other Allied Perils Insurance) broker for housing loan borrowers. With the new non-life insurance policy, Pag-IBIG home loan borrowers can now enjoy more and better benefits at a low premium rate.

“Following President Rodrigo Roa Duterte’s directives to prioritize the needs of our citizens, Pag-IBIG Fund reduced the rates of the non-life insurance of home loan borrowers. With the more affordable insurance premium, borrowers can save on their monthly amortization which greatly helps the housing sector’s BALAI Filipino (Building Adequate, Livable, Affordable, and Inclusive Filipino Communities) program in ensuring that Filipinos will have access to affordable homes,” Secretary Eduardo D. del Rosario, chairperson of the Housing and Urban Development Coordinating Council and Pag-IBIG Fund Board of Trustees, said in a statement.

With the new non-life insurance broker, the basic premium rates for fire and other allied perils have been reduced to 0.1686 percent of the appraised value of the building from the previous rate of 0.40 percent resulting in savings of about 58 percent.

For home loans of P 1 million, this means that the premium payment has been reduced to only P117 from the previous P415. And for a home loan of P450,000, the premium has been reduced to P79 from P186.

“We bid out the new insurance broker for the non-life insurance last year and the contract was awarded in January 2018. With the new broker, we were able to reduce the rate by almost 60 percent. We also introduced value-added services which were not offered by the previous insurance provider,” said PagIBIG CEO Acmad Rizaldy P. Moti.

IN BRIEF 10,000 jobs await jobseekers OVER 10,000 job opportunities await jobseekers in a mega job fair under the government’s “Build, Build, Build” infrastructure program on Sunday at the SMX Convention Center in Pasay City, the Department of Public Works and Highways said.

The jobs fair is in coordination with the Department of Labor and Employment., Department of Transportation, Bases Conversion and Development Authority the Department of Finance, Department of Budget and Management and National Economic and Development Authority, Public Works Secretary Mark Villar said.

President Rodrigo Duterte will grace the job fair, which will run from 8:30 am until 4:30 pm at the SMX Convention Center, he said.

Several companies from the construction sector will participate in the event, he said.

On top of the thousands of jobs from the “Build, Build, Build” contractors, additional job openings will also be offered by companies invited by the Department of Trade and Industry through the Construction Industry Authority of the Philippines. Vito Barcelo

Recede passes pharmacy exams TAI Ching Kate Cabie Recede, award winning campus journalist from the University of San Carlos in Cebu City, passed the pharmacist licensure examinations given last Aug. 4 and 5.

Recede was among 56 graduates of her school who were taking the two-day exams for the first time and made it, giving San Carlos, a private, Catholic and research university—the biggest in Cebu with all five campuses combined—a 100-percent passing average.

Recede’s classmate, Danixzyle Savilleno Cutamora, placed 8th with a rating of 90.88.

The date of the oathtaking of the new pharmacists will be announced later, according to the Professional Regulation Commission, which conducted the second board examinations this year.

Recede, a former Dean’s Lister of her school and three-term news editor of Today’s Carolinian, USC’s university publication, was awarded 1st place in the 2018 New York Times Journalist Training Camp conducted nationwide earlier this year.

Seminar for 28 judges conducted THE United States Embassy in the Philippines, through the US Department of Justice Office of Overseas Prosecutorial Development, Assistance, and Training, and the Philippine Judicial Academy have conducted a two-day training-seminar for 28 regional trial court judges on money laundering and financial crimes from August 7 to 8 in Cebu City.

The US Embassy said OPDAT and PHILJA jointly conducted 25 trainings for judges on financial crime over the last three years.

“Increasing cross border financial crime awareness is critical because these cases are complex and must be handled efficiently and well when they arise,” said Commercial and Family Court Judge Rowena San Pedro, who was one of the speakers at the conference. Rey E. Requejo

Sports

A7

FRIDAY, AUGUST 10, 2018 sports_mstandard@yahoo.com

Yu: Rain or Shine-backed PH five capable of pulling off surprises

R

AIN or Shine co-team owner Raymond Yu believes the hastily-formed Philippine basketball team has what it takes to pull off a couple of surprises despite landing in the so-called Group of Death in the Jakarta-Palembang Asian Games which start next week.

The Yeng Guiao-coached PH team is now bracketed with powerhouse China and dangerous Kazakhstan in Group D following its late re-entry in the continental sports extravaganza. The fourth team —Palestine—withdrew its participation.

“Let’s admit, it’s really a tough group

but we should not be cowed,” said Yu who watched the team’s practice Wednesday along with co-team owner Terry Que and Asian Coatings Philippines chairman Yu An Kun. “We also have good materials like them and we have an excellent motivational coach in Yeng Guiao.”

Que readily agreed, saying: “Knowing these players, they will do everything for the country. Great odds can bring the best out of these players.”

The Nationals, six of them from ROS, meet the Kazakhs on Aug. 16 and the Chinese on Aug. 21.

The ROS-led PH team needs to win one of two matches in the prelims to advance to the quarterfinal stage, which is a knockout affair.

When asked why ROS continued to support the country’s participation in the quadrennial sports spectacle despite the earlier withdrawal, Yu had a

simple answer.

“For flag and country, we are willing to sacrifice our team and support the PH team,” said Yu, whose father Yu An Kun was a former member of the PH football training team. “Our company is mightily proud to be of help to the national cause.”

Small wonder, Yu’s belief that there will still be a PH team in the Asian Games remained strong despite the earlier withdrawal.

“Deep in my heart, I know we will take part in the event because basketball has a calming effect to all Filipinos. It is very close to our hearts,” said Yu.

Zamboanga, Bataan crush MPBL rivals BATAAN and Zamboanga continued their good showing in the MPBL Datu Cup as they carved out similar onesided victories against their respective rivals on Wednesday night at the Blue Eagle Gym. Gary David finished with 21 points, while three other teammates tallied double-digit outputs in powering the Risers to a 101-68 triumph.

David, a multiple scoring champion in the PBA, led the Risers’ onslaught and helped the team Zetapro-backed squad in picking up their fifth consecutive win. Promising big man Jeepy Faundo contributed 12 and PBA aspirants Jay Alejandro and Vince Tolentino added 10 apiece.

The Risers, who notched their fifth win in six games, forged a tie for second place with Bulacan in the northern division of this event put up by Senator Manny Pacquiao with cage legend Kenneth Duremdes serving as commissioner.

Head coach Jojo Lastimosa of Bataan is happy at what is team is achieving so far, but had reservations winning blowout games.

“I hate blowout games because it doesn’t teach us anything. We want hard-earned wins because the struggles give us a lot of lessons,” added Lastimosa.

Lastimosa is looking forward to meeting the powerhouse teams where the squad will be truly measured.

“It’s hard to say. Two of our last three opponents, I would consider na mga top tier teams. The last three, Nandoon sila sa bottom of the standings. I want to see us how we are going to perform against the elite teams,” said Lastimosa.

Earlier, Zamboanga whipped Navotas, 89-78, as the Family’s Brand Sardines-backed Valientes picked up their third straight win.

Reed Juntilla continued his onslaught at the firing end, finishing with 29 points on a steady 13-of-18 shooting from the field to power the Valientes to their fourth win in six games.

Zamboanga is now the hottest team in the southern region.

Rain or Shine owners Terry Que and Raymond Yu (Standing 5th and 6th from left) and Asian Coatings Philippines chairman Yu An Kun pose with the Asian Games-bound Philippine basketball team. Also shown are coach Yeng Guiao and PH team manager Butch Antonio (far left).

Solid driving propels Quiban to 4-shot lead BACOLOD—Justin Quiban drove through the tight Binitin course with clockwork precision for the second straight day, shooting a six-under 64 and wresting a huge four-stroke lead over erstwhile leader Nilo Salahog and a horde of fancied pursuers halfway through the ICTSI Bacolod Golf Challenge here yesterday.

While majority opted to use their 3-wood or long irons off the tee, Quiban continued to lean on his trusted driver and superb putting to turn in another superb round, spiked by four birdies against a bogey at the back and capped by three birdies in his closing side at the front.

“I’ve been on-point with my tee shots since the first round and that I believe is my edge,” said Quiban, who pooled a 10-under 130 at the tree-lined par-70 Bacolod Golf and Country Club. “On a very tight course like this one, it’s all about precision over power.”

After hitting a pair of eight-footers for birdies on Nos. 11 and 12, Quiban hit one bad drive that went out-of-bounds on par-4

No. 13 but salvaged a bogey then resumed his birdie binge on Nos. 14, 15 and 1 before holing out with back-to-back feats.

“My chances are very good but I have to keep what I’ve been doing the first two days, making exceptional drives to go with impeccable putting,” said Quiban, who went on a slump after scoring a breakthrough win at Philippine Golf Tour Asia at Luisita last December.

Salahog, who upstaged the stellar field with a lead-grabbing 65 Wednesday, stumbled with a bogey on No. 2 but fought back with four birdies in a nine-hole stretch from No. 5 to keep Quiban within sight. Two bogeys in the last five holes, however, stalled his charge, his 69 dropping him to a fiveway tie for second at 134.

They include two of the tournament’s most feared names as Jobim Carlos, who posted two victories and a pair of runnerup finishes in the last seven tournaments on the PGTA and PGT put up by ICTSI, rebounded from a mediocre 70 with a solid 64 while Jay Bayron, the PGTA win-

ner at Southwoods last month, turned in a second straight 67.

Johvanie Abaño also matched Bayron’s two-day scores while Arnold Villacencio, also out to snap a long title spell in the circuit organized by Pilipinas Golf Tournaments, Inc., sizzled with a 65 to move four strokes adrift of the pace.

“The greens are tough to read and most are bumpy. It’s really a challenge to putt very well here,” said Salahog.

Tony Lascuña, a playoff winner here in 2016, shot a four-under card at the back but needed to birdie No. 9 to recover from bogeys on Nos. 1 and 8 on errant drives.

He put in a 67 and moved to solo seventh at 135, five shots behind.

Clyde Mondilla, the reigning PGT Order of Merit champion, charged back early with a birdie on No. 13 and an eagle on the par-5 15th. But the Del Monte ace seeking to end a long slump reeled back with three bogeys in the first seven holes at the front. He birdied No. 8 to save a 69 and stayed at eighth at 136.

Sharapova blasts foe; Kerber falls MONTREAL—Maria Sharapova fired 25 winners past hapless Russian compatriot Daria Kasatkina in a 6-0, 6-2 victory at the rain-hit Montreal WTA event on Wednesday, but Angelique Kerber’s first match since capturing the Wimbledon title ended in a sobering defeat.

Sharapova needed just 66 minutes to see off 12th-seeded Kasatkina in an impressive and timely display of big-hitting, with the US Open getting underway in just under three weeks’ time.

“I came on court having a lot of respect for my opponent because she’s up and coming but has already established herself,” said the 31-year-old Sharapova.

“I knew I had a tough match ahead of me.

I was focused from the beginning and I finished it that way.”

Kasatkina, 21, managed just three winners in the match.

Play was suspended before the start of

Wednesday’s night matches because of rain, resulting in four contests being added to Thursday’s schedule. The action will resume at 11:00 am local time (1500 GMT).

World number one Simona Halep will now play Anastasia Pavlyuchenkova in the second match on court central followed by second seeded Caroline Wozniacki in her second round match against Aryna Sabalenka of Belarus.

Venus Williams also had her second match of the tournament moved to Thursday. She beat world number 124 Caroline Dolehide in the first round but will have a tougher test against veteran Sorana Cirstea of Romania.

Sharapova next faces French sixth seed Caroline Garcia for a place in the quarterfinals.

Five-time major winner Sharapova leads the head-to-head against Garcia 4-1 but the French player won their only meeting in the last three years on clay in Stuttgart in April. AFP

Maria Sharapova of Russia remains focused against Daria Kasatkina of Russia during day three of the Rogers Cup at IGA Stadium in Montreal, Quebec, Canada. AFP

Nadal blows past Benoit, leads way into Toronto Masters 3rd round TORONTO—Top seed Rafael Nadal blew past patchy Frenchman Benoit Paire 6-2, 6-3 on Wednesday to begin his quest for a fourth Canadian trophy at the Toronto Masters.

The world number one Spaniard was untouchable as he schooled Paire for the fourth time without a loss, taking 74 minutes as he broke six times.

Nadal won the event in 2005, 2008 and 2013.

“I was not at my 100 per cent today,” Nadal said. “It’s true that I did good work

here the last five days, but at the same time it’s true that I didn’t work very hard at home.

“So the first match is an important victory for me, for my confidence. It’s important that I have another match tomorrow too. So just try to keep going.

“I played a solid match, in the second set I had some troubles, but my return worked well. It was more about the mistakes from the baseline.”

The 32-year-old will bid for the quarterfinals here for the first time since 2015 when he plays Stan Wawrinka, who staged

another fightback in three sets, beating Marton Fucsovics 1-6, 7-6 (7/2), 7-6 (12/10).

Defending champion Alexander Zverev, seeded second and winner at the weekend in Washington, also advanced easily beating Bradley Klahn 6-4, 6-4.

Former top-ranked Novak Djokovic, a four-time champion, sent Canadian Peter Polansky to a 6-3, 6-4 defeat.

Two generations of local players split the difference with Milos Raonic, 27, heading out while teenaged gun Denis Shapovalov moved on.

American Frances Tiafoe beat Raonic 7-6 (7/4), 4-6, 6-1 in a match hit by a weather interruption of more than two and a half hours.

Teenaged prodigy Shapovalov eliminated Italian 14th seed Fabio Fognini winner last weekend in Los Cabos, 6-3, 7-5.

Djokovic expressed support for the new 25-second shot clock innovation designed to cut down on time wasting between points.

“I’m pretty comfortable with it—it’s good to have shot clock in the tournaments prior to the US Open.” AFP

Amateur league for homegrown cagers formed TWELVE teams are set to participate in the inaugural season of the National Basketball League-Philippines on Aug. 25 as homegrown players battle for supremacy for their locales.

Teams that have confirmed their participation for the opening season of the newest amateur league in the country are Bataan, Bulacan, Camarines Sur, Dasmarinas, Laguna, Marikina, Nueva Ecija, Pangasinan, Paranaque, Quezon City, Rizal, and Taguig.

The league caters to players aged 18 to 29 years old who are homegrown talents of teams from their province, city, or municipality.

For the coming season, each team can field 18 players and have a maximum of seven acting as reserved players coming from their province, city, and municipality, following strict eligibility rules of the league.

The NBL will also be playing its games in the province, city, or municipality of the member teams, giving the community an opportunity to see and their homegrown talents up close and personal.

The league’s games will be getting exposure through the live and replay broadcasts on Basketball TV and Solar Sports, as well as live stream on the NBL Philippines’ Facebook page and the Eagle Broadcasting Corporation Facebook page. The matches can also be seen on a delayed basis on television on Net 25.

NBL commissioner and former PBA cager Nandy Garcia is excited for the coming season as homegrown talents take center stage in the league. Garcia knows the potential of homegrown talents having been discovered by scouts in a league for players in Imus.

“My life in basketball has gone full circle being the commissioner of the NBL. I’m looking forward to seeing new potential talents from our member teams,” said Garcia in a press conference on Wednesday at the Dad’s Restaurant—Edsa.

According to league chairman Celso “Soy” Mercado, the NBL is a complementary league for the PBA and the MPBL as the mission of the NBL is to develop homegrown talents that will make it big in the future.

Miciano falls to top seed in Zeeland chess AFTER neutralizing fifth seed Russian GM Vyacheslav Ikonnikov in the fifth round, International Master John Marvin Miciano wavered from his aggressive play and was downed by top seed Argentinian Grandmaster Sandro Mareco in the sixth round of the 22nd Hogeschool Zeeland chess tournament in Vlissingen, the Netherlands Wednesday night.

The 17-year-old Miciano made efforts to free himself out of trouble but was utterly crushed by a well executed endgame technique of Mareco as the latter snatched a share of the lead at 5.5 apiece with Chinese GM Wan Yungu, who recently won over IM Antonio Dcunha Viani of India.

The Far Eastern University standout dropped to a 10-player group at third with five points each.

At the same time, after becoming overpowered by Dutch IM Mad Warmerdam and ousted out off the Top 50 with 2.5 points, WGM Janelle Mae Frayna stormed back into contention after assailing Swiss Duke Kruetzmann and Dutch Robert Oosting, respectively, to zoom to a big group at the 13th spot with 4.5 points apiece.

Miciano and Frayna’s coach GM Jayson Gonzales, on the other hand, scalped Woman FIDE Mastee Sonja Maria Bluhm in 31 moves of a Caro-Kann Defense.

Miciano was playing the Netherlands’ GM Roeland Pruijssers, while Gonzales, 49, was battling another Dutch GM Jorden Van Foreest by the seventh round at press time. Ram Christian Agustin

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

Sports

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

A8

FRIDAY, AUGUST 10, 2018

Near-sweep puts Tagaytay back in hunt TAGAYTAY Highlands nearly pulled off a rare sweep of three divisions but its two victories and a runner-up finish at home proved enough to put the Highlanders back in the overall title hunt in the 2018 WGAP Circuit at the Midlands and Lucky 9 courses in Tagaytay recently.

The hosts cashed in on the proverbial home-court edge to dominate, scoring a 155 and beating the Forest Hills side by five in Class B and pooling a 150 to trounce the Canlubang ladies by seven in Class C. Villamor, however, foiled Tagaytay’s bid in the premier class behind its youth brigade, coming away with a three-point victory on a 145 to likewise stretch its lead in the overall race heading to the last three stops of the annual eight-leg circuit organized and conducted by the Women’s Golf Association of the Philippines.

Aguinaldo, which pulled to within one off Villamor after the fourth leg at Orchard, missed a podium finish, enabling the latter to extend its lead to four with 19 points. Aguinaldo remains in second with 15 points while Tagaytay moved from joint sixth to solo third with that huge eight-point haul for 13 points.

Alabang, Eagle Ridge and Sta. Elena have nine points apiece while Forest Hills has seven and Canlubang totes five points going to the circuit’s sixth leg at Wack Wack on Aug. 28.

Samantha Martirez fired 38 Stableford points while Harmie Constantino and Kristine Torralba produced 36 points each and Arline Ward backed them up with 35 points as Villamor repulsed Tagaytay, which turned in a 142, in Class A. Rosalie Heo shot 39 points and took the individual crown while Hee Kyung Jung, Sophia Blanco and Rebecca Albert added 36, 34 and 33 points, respectively, for Tagaytay.

Alabang, led by Joan Morales and Marilyn Reyes’ identical 36 points, placed third with a 137 followed by Camp Aguinaldo (132), Forest Hills (128), Sta. Elena (119), Cangolf (115) and Eagle Ridge (113).

But Tagaytay stamped its class in the two other divisions with Jennifer Romualdez sizzling with 44 points, Hedy See shooting 39 points and Mathilda Sun and Rosario Dimson adding 36 points each for a five-point romp in Class B over Forest Hills, which scored a 150.

Batang Gilas big man AJ Edu (14) powers to the hoop against four defenders from Bahrain. Batang Gilas beat Bahrain, 67-52, to advance to the semifinals of the FIBA Under-18 Asian Championship in Nonthaburi, Thailand. Photo from fiba.basketball

PH beats Bahrain to reach semifinals

By Peter Atencio

K

AI Sotto banged in a game-high 21 points, including eight points during a crucial third quarter breakaway, sending Batang Gilas to an historic 67-52 crushing of Bahrain yesterday in their quarterfinal encounter at the Bangkok Thai-Japan Youth Center in Thailand.

The 7-foot-1 Sotto’s big effort in the opening minutes of the third quarter pushed the Philippines into the lead, and they held on to their advantage till the end in the 2018 FIBA Under-18 Asian Championship in Nonthaburi.

The win not only earned Batang Gilas a spot in the semifinals, it also gave them a ticket to the FIBA U19 World Championship.

This is the first time a team from the SEABA subzone reached the final four since 1995 and the first time that the Philippines will have a chance at a medal since 1992.

The Filipino trailed by, 26-34, when Sotto turned up the heat during a 10-2, and the Philippines to a 38-36 lead when

it was over in the final 6:16.

AJ Edu added 16 points, while Miguel Oczon hit 10 points, with his triple in the remaining 5:21 allowing Batang Gilas to increase their edge to five, 41-36.

Baqer Ali and Rashed Awadh led with 13 points for Bahrain, which reached the quarterfinals after it won over ChineseTaipei, 76-65.

The Philippines will now wait for the winner between Australia and Japan to determine their semis foes.

The Bahrainis refused to back and leaned on a triple from Baqer Alo to stay close, 43-all.

But, a penetration from Oczon shattered the deadlock, and Gerry Abadiano’s charity

put the Philippines back in front, 48-45.

Raven Cortez’s putback in the start of the fourth allowed Batang Gilas to touched a 7-0 burst, and they went on to enjoy a 55-45 spread off Sotto’s alley oop shot in the final 5:20.

Batang Gilas went on to grab a 15-point spread, 62-47, off Sotto’s three-point play with 3:10 left.

The Philippines held a clear advantage in size with what is known in the international basketball community as the “Manila Skyline” towers, Kai Sotto and AJ Edu. Statistically, the Filipinos are the third best team in blocks (6.3 per game) and fourth in rebounds (39.3 per game).

Box scores: BATANG GILAS 67—Sotto 21, Edu 16, Oczon 10, Ildefonso 6, Panopio 4, Abadiano 3, Ramirez 3, Cortez 2, Amsali 2, Torres 0, Lina 0, Chiu 0.

BAHRAIN 52—Ali R 13, Awadh 13, Rashed M 11, Rashed A 7, Hamoda 2, Aboukuora 2, Kadhem 2, Dindayneh 2, Nawaf 0, Alrowaila 0, Ali A 0, Koohiji 0.

Quarter scores: 20-11, 26-34, 48-45, 67-52.

Jr Altas subdue San Sebastian Jr Staglets, 70-74

Former ONE Championship world titlist Eduard Folayang (left) unloads a kick at his opponent Aziz Pahrudinov during their fight at the Mall of Asia Arena. ONE Championship

Games Today

(at the Arena in San Juan) 8 a.m. EAC-ICA vs Mapua (jrs) 10 a.m. JRU vs Arellano (jrs) 12 nn EAC vs Mapua (srs) 2 p.m. JRU vs Arellano (srs) 4 p.m. San Beda vs Letran (srs) 6 p.m. San Beda vs Letran (jrs)

MARK Gallano knocked in 20 points and sank three winning charities at endgame to power the University of Perpetual Help Junior Altas to a 70-64 overtime victory over the San Sebastian Staglets yesterday at their own homecourt at the UPHSD-Las Pinas gym.

The 6’2” forward first scored on a split free three throw in the last 15.4 seconds, and this contributed to the Junior Altas’ fourth win in five games in the 94th National Collegiate Athletic Association (NCAA) junior basketball tournament.

His next two charities in the last 4.6 seconds, off Davo Balo’s foul, finalized the count and allowed the Junior Altas to move to a share of second spot with the Arellano Braves.

“Sa wakas, nakalusot na rin kami sa aming home court,” said Junior Altas coach Myk Saguiguit, who recalled their loss to the San Beda Red Cubs last season.

Kean Baclaan drilled in 17 points for the Staglets, who now have a 3-5 win-loss slate.

The game went into overtime when Miguel Bonalos drove past Gallano in the last 7.8 seconds of regulation, 60-all.

The Junior Altas were enjoying a 60-54 edge when the Staglets started rallying, with Bonalos starting off a 6-0 run with his layup off JP Timbacaya’s pass.

Emman Galman made 18 points, with his two charities in the last 2:56 giving the Junior Altas a six-point lead. Peter Atencio

Folayang wants Nguyen rematch for ONE crown

NOW eight months after he lost the ONE Lightweight World Championship to Martin Nguyen, Eduard Folayang finds himself on a twobout win streak, and he is laser-focused on regaining the belt.

The Baguio City warrior believes people would want to see a rematch against Nguyen.

“I think the fans are only interested in one rematch, and that is with me and the Champion. They want me to fight Martin (Nguyen) again, and get my title back,” said Folayang.

The road back to the gold could be a long and arduous one, but the Team Lakay veteran is willing to face anyone who will lead him towards a second title opportunity.

“There is one thing on my mind, and that is getting the lightweight title back. That is my main goal. I will take care of anyone blocking my path to the title. That is what we are working so hard for,” said Folayang The 34-year-old Filipino hero has reason to be confident. He continued his climb back to the ONE Lightweight World Championship with a victory over previously unbeaten Aziz Pahrudinov.

Folayang authored a clear-cut unanimous decision win against the Russian newcomer, despite some obstacles that made his preparations difficult.

“There was not much tape of him that I could review, so it took me a while to size him up and see what he had to offer,” the Team Lakay veteran said.

“He was very strong, and just like we predicted, he was a very capable wrestler. That is why I focused even more on the game plan we came up with, because I knew it would bring victory.”

Folayang immediately took the center of the cage, measured up his Russian opponent, and cautiously struck with precise, powerful blows.

Pahrudinov—a Combat Sambo World Champion who entered the tilt with an unbeaten 20-0-1 record— used his strikes to set up takedowns.

But, even when he was successful in taking the match to the mat, Folayang stifled him with a solid defense, and continued to light him up throughout the three-round affair when the action returned standing.

Cone glad to be on winning side

By Jeric Lopez PRIOR to its conquest of the 2018 Philippine Basketball Association Commissioner’s Cup the other night, Barangay Ginebra last won the midseason tournament 21 years ago in 1997.

During that time, Tim Cone was on the losing end as he was still Alaska’s tactician.

Now, Cone is just glad that he’s on the winning side as he expressed the satisfaction of winning his third championship as the Gin Kings’ coach since he took over in 2015.

“It just feels so good to be part of Ginebra and having to experience winning championships for this team,” said Cone after Ginebra dethroned the San Miguel Beermen and took their finals clash, 4-2, last Wednesday.

Cone recalled the time in the mid-90s when he was spearheading the Aces’ bid against the Robert Jaworski-led Ginebra squad.

“Back then, I was always trying to beat Ginebra.

I wondered how it felt to be on their side with all the fans and support but now, I’m so glad to be experiencing this with the team.”

The league’s winningest coach just enhanced his already distinguised legacy, capturing his 21st championship in the process.

Cone then went on to credit his players for a job well done as they were able to take down the mighty Beermen to win their third championship in the last six conferences.

“These players are just the best. I mean, we started out at 1-5 but they kept working hard, kept believing in the team and here we are, winning another championship.”

The Gin Kings peaked when it mattered after their tumultuous start.

They won 12 of 13 games in one stretch that lasted from the eliminations all the way to the finals.

More importantly, they won the finals’ last three games after trailing 1-2 in the series to once again claim glory.

Barangay Ginebra coach Tim Cone addresses the mammoth crowd which watched the Gin Kings win the 2018 PBA Commissioner’s Cup crown. PBA

SMIC’s profit climbed 9% to P18.1b in first semester

By Jenniffer B. Austria CONGLOMERATE SM Investments Corp. said net income climbed 9 percent in the first half to P18.1 billion from P16.6 billion in the same period last year, boosted by the strong performance of its retail and property businesses.

SMIC said consolidated revenues grew 12 percent in the six-month period to P204.9 billion from P183.2 billion in the same period last year.

The property business contributed the most to consolidated net income at 45 percent. This was followed by banks with 33 percent, and retail with 22 percent.

“We are encouraged by the results of the first half, driven by the strong performance of retail and property, particularly the residential business.

Our results show the strength of the economy and consumer sentiment but we remain vigilant about inflationary pressures. We are optimistic that consumption will remain resilient,” SMIC president Frederic DyBuncio said.

SM Retail reported a net income of P5.7 billion in the first six months of the year, up 10 percent from a year ago, as sales grew 10 percent to P145 billion.

SM Retail’s food retail group opened nine mid-sized format Savemore stores, three SM Supermarkets, four WalterMart stores and 93 Alfamart stores in the first six months.

SM Retail’s specialty retail stores grew 17 percent to P37.3 billion, in part driven by expansion and new formats such as Miniso, which had 55 stores as of end-June.

Business

By Julito G. Rada

T

HE Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas, on Thursday raised the benchmark interest rate by 50 basis points to 4 percent in a bid to rein in inflation.

It was the largest adjustment in overnight borrowing rate in 10 years, and followed two successive 25-bps hikes early this year. The Monetary Board made the adjustment after inflation rate accelerated to a five-year high of 5.7 percent in July.

The increase in interest rate also came amid signs of decelerating economic growth. The Philippine Statistics Authority reported Thursday that the gross domestic product expanded 6 percent in the second quarter, slower than the 6.6-percent growth in the first quarter.

Bangko Sentral Governor Nestor Espenilla Jr. said the interest rates on the overnight lending and deposit facilities were also increased accordingly.

Data showed that the last time the Monetary Board raised the policy rate by 50 basis points was in July 2008, when inflation reached 12.2 percent amid the global financial crisis.

“In deciding to raise the BSP’s policy interest rate anew, the board noted that latest baseline forecasts have shifted

over the policy horizon, indicating some risk of inflation exceeding the target in 2019,” Espenilla said.

He said upside risks also continued to dominate the inflation outlook, as the sustained increase in core inflation suggested broadening price pressures amid resilient aggregate demand conditions.

Meanwhile, he said inflation expectations remained elevated, although staying within the target of 2 to 4 percent for 2019.

Espenilla said the Monetary Board deemed it necessary to have stronger monetary action to rein in inflation expectations and prevent sustained supply-side price pressures from driving further second round effects, even as the previous monetary policy responses continued to work their way through the

JADEL Holdings Co. Inc., the parent company D&L Industries Inc., is spending P2 billion to build a stateof-the-art research center in Quezon City.

D&L said in a disclosure to the stock exchange that while it would have no financial or ownership stake in Jadel Research Center, the company would benefit from JRC’s research initiatives in areas that could complement its existing business segments.

“We are very excited to embark on this strategic project,” D&L president and chief executive Alvin Lao said.

“We recognize that R&D is at the core of our business and represents the biggest source of earnings growth and margin expansion. This investment represents our family’s steadfast commitment to both R&D and innovation, allowing us to achieve sustainable growth in new and existing businesses and increase our relevance to customers,” he said.

D&L is primarily engaged in product customization and specialization for the food, chemicals, plastics, and aerosol industries. Jenniffer B. Austria

Hyundai reported lower sales in July

KOREAN car distributor Hyundai Asia Resources Inc. said Thursday car sales declined 8.8 percent in July to 3,279 units from 3,594 units in the same month in 2017.

This put the company’s seven-month sales to 19,236 units, down by 8.2 percent from the same period last year.

“In the midst of all the uncertainty faced by the automotive industry, Hyundai has proven itself to weather the odds with its strong start in the second half of the year. Expect more to come for the rest of 2018 as we will not let this ‘Kona moment’ pass us by,” said Hyundai Asia president and chief executive Ma. Fe Perez-Agudo.

Data showed said that in July, passenger car sales of Hyundai dropped 35.7 percent to 1,649 units from 2,564 units in the same month in 2017. The light commercial vehicle managed to increase sales by 600 units or 58.3 percent to 1,630 units, with the introduction of the New Kona, Hyundai’s sub compact SUV model. Othel V. Campos

INDUSTRY TRAINING. The Department of Trade and Industry, other government agency-partners and private sector associations sign a memorandum of understanding which will allow collaboration between agencies in a World Café of Opportunities for technical and vocational graduates. Trade Secretary Ramon Lopez (second from left) commits to facilitate partnerships among companies and industry associations, conduct business start-up trainings and provide start-up capital to deserving graduates. The partnership was headed by the Technical Education and Skills Development Authority director general Guiling Mamondiong.

F OREIGN E XCHANGE R ATE Bangko Sentral ng Pilipinas Thursday, August 9, 2018

Currency

Unit

US Dollar

Peso

United States

Dollar

1.000000

53.0250

Japan

Yen

0.009011

0.4778

UK

Pound

1.288400

68.3174

Hong Kong

Dollar

0.127408

6.7558

Switzerland

Franc

1.006847

53.3881

Canada

Dollar

0.767990

40.7227

Singapore

Dollar

0.734107

38.9260

Australia

Dollar

0.743100

39.4029

Bahrain

Dinar

2.649989

140.5157

Saudi Arabia

Rial

0.266667

14.1400

Brunei

Dollar

0.731422

38.7837

Indonesia

Rupiah

0.000069

0.0037

Thailand

Baht

0.030111

1.5966

UAE

Dirham

0.272272

14.4372

Euro

Euro

1.161200

61.5726

Korea

Won

0.000895

0.0475

China

Yuan

0.146374

7.7615

India

Rupee

0.014567

0.7724

Malaysia

Ringgit

0.245459

13.0155

New Zealand

Dollar

0.674500

35.7654

Taiwan

Dollar

0.032706

1.7342

Source: PDS Bridge

Napocor’s four-hectare property in Quezon City up for sale in 2019

By Alena Mae S. Flores POWER Sector Assets and Liabilities Management Corp. said it plans to privatize the four-hectare National Power Corp. compound in Quezon City and its 44-hectare Bagac property in Bataan next year.

PSALM president Irene Joy BesidoGarcia told reporters the two big real estates would be the first to be privatized in 2019.

“We are also going to do master planning of the Napocor property in Quezon City, the one located at the corner of Quezon Avenue and BIR Road,” Garcia said.

Garcia said the Napocor compound, which currently hosts the office of Napocor, National Transmission Corp., National Grid Corp. of the Philippines and PSALM, is an asset which was transferred to PSALM for privatization.

“Of course, we cannot privatize it instantly because there are offices within, so we need to do a very careful master planning of the entire compound and the needs of the people using the current of-

B1

economy.

The Bangko Sentral also adjusted upwards the inflation forecasts for 2018 and 2019. The forecast for this year was increased to 4.9 percent from the previous estimate of 4.5 percent. The forecast for 2019 was raised to 3.7 percent from 3.3 percent previously. The board also announced an inflation forecast of 3.2 percent for 2020.

Bangko Sentral Deputy Governor Diwa Guinigundo said the Monetary Board considered four factors in adjusting the inflation forecast for 2018. These were the increase in jeepney fares, the water rate increases, increase in excise taxes for tobacco and higher oil prices.

Espenilla expressed optimism that the rate hike on Thursday would prop up the peso.

fices and then we have to decide on how to optimize the use of that land,” she said.

Garcia said PSALM would conduct a third-party valuation of the properties and determine the best privatization option for each.

“We can do it in one building to house all the offices and if it is best to do it via a joint venture. That is why it is important to start off with very efficient master planning of the entire compound.

Once we have that, then we can do the privatization based on the outcome of the master planning,” she said.

PSALM will conduct the master plan study before the end of the year, with the privatization slated for 2019.

“When you say privatization, different structures because it can be such that we are really not selling it off but it can be joint venture with a private entity where there is going to be profit sharing in the end,” Garcia said.

“We have to study that because may be we can get more benefit with a joint venture arrangement against an as is, where is sale of the land,” she said.

CONGLOMERATE San Miguel Corp. said Thursday net income grew 6 percent in the first half to P27.58 billion from P26.09 billion recorded in the same period last year on the back of a double-digit growth in revenues.

San Miguel said in a statement recurring net income, which excluded the effects of unrealized mark-tomarket losses as a result of foreign exchange translation, surged 29 percent in January to June to P35.53 billion from P27.6 billion a year ago, on robust performance of core businesses.

“Increased business focus and a lot of hard work were key to our group’s stellar performance. We’re encouraged by the results we’ve had so far, and are very hopeful that this momentum will carry through for the rest of the year,” San Miguel president and chief operating officer Ramon Ang said.

Consolidated revenues jumped 27 percent in the first six months to P499 billion from P393.4 billion in the same period last year. Income from operations rose 25 percent to P67 billion.

The conglomerate’s newly consolidated food and beverage unit San Miguel Food and Beverage Inc. recorded a net income of P15.37 billion in the first two quarters, up 20 percent year on year.

First-half consolidated revenues hit P137.4 billion, up 15 percent from the same period last year, while operating income went up 20 percent to P22.9 billion.

SMFB’s food business accounted for 46 percent of total revenues, while brewery contributed 45 percent. The group’s liquid unit also accounted for the remaining 9 percent.

Oil and gas firm Petron Corp. posted a 16-percent increase in net income to P9.5 billion, on 32-percent increase in net sales to P273.5 billion.

The group’s packaging business also delivered net sales of P17.55 billion, an increase of 25 percent, while income from operations went up 17 percent to P1.64 billion.

SMC Global Power Holdings registered a 41-percent increase in net sales to P57.4 billion on additional revenues from Masinloc, Limay and Malita plants. Jenniffer B. Austria

House endorses tobacco harm reduction

SEC chair to induct 2019 CMAP officers

SECURITIES and Exchange Commission chairman Emil Aquino will induct today the new board of directors of the Credit Management Association of the Philippines led by Luis Arriola as its reelected president for the fiscal year 2018-2019.

The other officers are Jezreel Pimentel of Chinabank Savings as vice president; Tina Maulion of Directories Philippines, treasurer; Lhen Mañeja of Puregold Finance Inc., assistant treasurer; Melinda Clarin of Store Specialist Inc., corporate secretary; and Roderick Vinluan of Quanta Paper Corp., assistant corporate secretary.

CMAP committee chairpersons are Jezreel Pimentel (China Bank Savings, Inc.) for Credit Information Service and Technology; Juancho Magpantay (Security Bank Corp.), Credit Education and Research; Reynaldo Concepcion (Bank of Commerce), Membership; Roderick Vinluan (Quanta Paper Corp.), Legal and Ethics; Melinda Clarin (Stores Specialists Inc.), Program and Sports; Melinda Alvarez (Phinma Property Holdings Corp.), Social Involvement; and Arnaldo Bacabac, Jr. (Orix Metro Leasing and Finance Corp.), Credit Congress.

CMAP is now 86 years old and its theme for this year is “CMAP at the Forefront of Fintech Evolution.”

FRIDAY, AUGUST 10, 2018

San Miguel’s income rises 6% to P27.58b

PLDT selling Voyager as net income dips 58%

D&L’s parent firm eyeing P2-b facility

business@manilastandard.net extrastory2000@gmail.com

BSP hikes interest rate by 50 bps

IN BRIEF

PLDT Inc. said Thursday it expects a new group of foreign investors for unit Voyager Innovations Inc. in the next four weeks as its digital innovations arm partly contributed to the decline in the telecom company’s net income in the first half.

PLDT chairman and president Manuel Pangilinan said the company signed a non-binding term sheet with a group of foreign investors for the sale of a majority stake in Voyager. He said the term sheet for the transaction was expected to be completed in the next four weeks.

“These are private equity investors and investors that are in the same business as Voyager,” he said.

“It also reduces the quantum of losses we will book moving forward,” Pangilinan said, adding that Voyager contributed a P1.3 billion losses to PLDT in the first half of the year.

PLDT invested between P9 billion and P10 billion in Voyager. PLDT reported a net income of P4.88 billion in the second quarter, down by 58 percent from P11.59 billion in the same period last year.

PLDT’s net profit also dropped 28 percent in the first half to P11.80 billion from P16.56 billion in the same period last year. Darwin G. Amojelar

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor

PAL FLIES TO SAPPORO. Philippine Airlines president Jaime Bautista (left) presents a model aircraft as a gift to Hokkaido Governor Harumi Takahashi at her office in Sapporo, Japan, after officially announcing the flag carrier’s new thrice weekly nonstop Manila-Sapporo service starting Sept. 10, 2018, using PAL’s new Airbus A321neo aircraft. Takahashi hailed PAL’s new route as a boon for tourism in Hokkaido, Japan’s largest and northernmost prefecture, and cited the success of the 2017 Filipino movie “Kita Kita” as an incentive for Filipinos to visit Sapporo.

THE House of Representatives unanimously adopted a resolution urging the Department of Health to promote harm reduction measures as part of its National Tobacco Control Strategy, especially the use of electronic cigarettes or vapes as a less harmful alternative for smokers.

Co-authored by Coop-Nattco Party-list Rep. Anthony Bravo and North Cotabato 3rd District Rep. Jose Tejada, House Resolution No. 1885 cited the World Health Organization’s observation that in the U.K., where strict tobacco control measures are in place and electronic nicotine delivery systems (which include e-cigarettes) are becoming more popular, smoking prevalence, cigarette consumption and overall nicotine use appear to be gradually decreasing.

It referenced results of independent studies by Public Health England and Cancer Research UK, which showed that since e-cigarettes were introduced in the U.K. smoking prevalence among adults and the youth have declined, confirming that e-cigarettes do not serve as a gateway to smoking.

“By unanimously adopting the reso-

lution, the House of Representatives is sending a strong message to the DOH to abandon its misguided belief that ‘quit or die’ are smokers’ only choices and instead follow the lead of the United Kingdom and other countries that have adopted harm reduction as part of their tobacco control strategies,” said Joey Dulay, president of the Philippine ECigarette Industry Association.

“We thank our legislators for keeping an open mind to the growing body of scientific evidence supporting e-cigarettes as a significantly less harmful alternative to conventional cigarettes. We urge the DOH to do the same and help save lives,” said Peter Paul Dator, president of The Vapers Philippines.

The resolution quoted PHE National Director Prof. Kevin Fenton as saying that “the evidence is clear that vaping is much less harmful than smoking and that e-cigarettes are helping many smokers to quit…Different approaches will be appropriate in different places, but policies should take account of the evidence and clearly distinguish vaping from smoking.”

B2

Business

FRIDAY, AUGUST 10, 2018 extrastory2000@gmail.com

Stock market declines; EDC jumps T HE stock market retreated Thursday in mixed trading after a disappointing GDP performance in the second quarter and ahead of the Monetary Board meeting later in the day.

The Philippines Stock Exchange Index fell 30.75 points, or 0.4 percent, to 7,820.71 on a value turnover of P6.3 billion. Losers beat gainers, 121 to 90, with 34 issues unchanged.

The gross domestic product grew slower in the second quarter and fell well short of expectations as a result of policy decisions that included the shutdown of holiday island Boracay, officials said Thursday.

The six percent expansion in April-June

was the weakest in three years and ended a run of 10 consecutive quarters in which the economy grew at least 6.5 percent.

Jollibee Foods Corp., the biggest fastfood chain, dropped 2.8 percent to P269, while Globe Telecom Inc., the secondlargest telecommunications firm, lost 2.4 percent to P1,975.

Energy Development Corp., the biggest steam producer, jumped 41.4 percent to P7 after announcing a plan to voluntarily delist its common shares from the exchange after a scheduled tender offer.

EDC’s tender offer price of P7.25 apiece represents a 46-percent premium over the closing share price of P4.95 on August 7 and a 4-percent premium over the three-month volume weighted average price of P5.18.

Casino operator Bloomberry Resorts Corp. rallied 5.2 percent to P10.62.

Asian investors on Thursday, mean-

while, largely brushed off China’s titfor-tat response to Donald Trump’s latest tariff threats, with most markets rising, but concerns about the impact of an all-out trade war are keeping optimism in check.

Beijing said on Wednesday it would impose 25-percent tariffs on $16 billion of US goods from August 23, retaliating in kind to a warning from US officials the day before and escalating a crisis that pits the world’s top two economies against each other.

While the row has sent global markets into convulsions this year, the latest development had been widely expected, with Wall Street ending mixed.

Hong Kong jumped 1.1 percent, extending a rally into a fourth day, while Shanghai surged 1.8 percent following healthy Chinese inflation data.

Seoul was 0.1 percent higher, Sydney added 0.5 percent and Wellington rose

0.8 percent, while Bangkok gained 0.1 percent.

However, Tokyo dropped 0.2 percent on a stronger yen.

Energy firms fell in line with a sharp sell-off in oil, which followed a report showing US stockpiles fell less that expected, while investors are also fretting over the effects of a China-US trade war on demand.

Both main contracts plunged more than three percent on Wednesday, with analysts saying figures pointing to a drop in Chinese imports from the US were also detrimental. WTI and Brent were slightly higher Thursday.

“Oil fell out of bed last night as worries over Chinese demand surfaced after the trade data yesterday and in the wake of China’s hitting back in the tariff war targeting energy products,” said Greg McKenna, chief markets strategist at AxiTrader. With AFP

MANILA STANDARD BUSINESS DAILY STOCKS REVIEW THURSDAY, AUGUST 9, 2018

OPEN

HIGH

LOW

CLOSE

ASIA UNITED BANK PH ISLANDS BDO UNIBANK BRIGHT KINDLE CHINABANK CITYSTATE BANK COL FINANCIAL EAST WEST BANK FERRONOUX HLDG FILIPINO FUND IREMIT MEDCO HLDG METROBANK NTL REINSURANCE PB BANK PHIL NATL BANK PHIL STOCK EXCH PHILTRUST RCBC SECURITY BANK UNION BANK VANTAGE

58.2 97.2 130.4 1.88 33.2 7.38 16.48 14.4 3.76 8.66 1.54 0.56 77 1 11.94 47.4 201 110 30.1 202.4 84 1.19

59.8 98.1 130.5 1.94 33.2 7.38 16.48 14.4 3.76 8.66 1.57 0.57 77 1.02 11.98 47.6 202 110 30.1 204 84 1.19

58.2 96.8 128.5 1.82 32.95 7 16.42 14.32 3.64 8.65 1.54 0.54 74.8 0.99 11.94 47 201 105.1 29.75 200 83.9 1.19

FINANCIALS 59.8 10,140 97 525,680 129.8 1,431,340 1.91 1,044,000 33.15 322,900 7 2,200 16.42 12,400 14.38 419,700 3.73 269,000 8.65 300 1.57 12,000 0.56 329,000 76.4 1,226,770 1.02 136,000 11.98 21,200 47.15 182,100 201 1,410 105.1 160 30 108,100 202.6 115,890 84 15,180 1.19 60,000

603,769 51,006,338 185,837,905 1,958,110 10,699,830 15,904 203,638 6,033,100 991,030 2,597 18,750 181,930 93,256,834.50 136,140 253,780 8,599,985 283,420 17,551 3,230,645 23,387,140 1,274,870 71,400

501,654 -2,174,271 -82,014,828 27,450 141,970 2,476,122 25,841,681.50 -2,996,660 6,000 -3,901,268 -71,400

ABOITIZ POWER AGRINURTURE ALLIANCE SELECT ALSONS CONS BASIC ENERGY BOGO MEDELLIN CEMEX HLDG CENTURY FOOD CHEMPHIL CIRTEK HLDG CNTRL AZUCARERA CONCEPCION CONCRETE B 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 LIBERTY FLOUR LMG CHEMICALS MABUHAY VINYL MANILA WATER MAXS GROUP MEGAWIDE MERALCO MG HLDG PANASONIC PEPSI COLA PETROENERGY PETRON PHIL H2O PHINMA PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL PRYCE CORP RFM CORP ROXAS AND CO ROXAS HLDG SFA SEMICON SHAKEYS PIZZA SMC FOODANDBEV SPC POWER SWIFT FOODS TKC METALS UNIV ROBINA VICTORIAS VITARICH VULCAN INDL

37 15.1 0.78 1.23 0.245 112.1 3.54 15.7 225 42.3 21.3 50 90 1.81 5.12 7.76 10.6 15.88 10.76 7.3 7 16.5 64.5 25 7.45 14.2 2.45 274 42 5.07 3.2 26.75 13.32 19 375.8 0.181 7.1 2.21 4.1 9.13 5.22 7.95 1.19 11.9 56 6.3 4.76 2.6 3.25 1.75 13.16 75.25 5.2 0.127 1.13 138 2.51 2.45 1.55

37.35 15.36 0.78 1.25 0.245 119.9 3.64 15.8 233.6 42.3 21.3 50 90 1.82 5.12 7.88 10.9 15.88 10.76 7.47 7.02 16.5 64.5 27.3 7.5 14.5 2.47 274.2 42.15 5.07 3.2 26.75 14.3 19.04 376 0.181 7.3 2.24 4.1 9.14 5.22 7.95 1.19 12 56.45 6.3 4.76 2.62 3.25 1.75 13.3 83.1 5.28 0.13 1.13 139.5 2.51 2.52 1.6

36.6 15 0.74 1.21 0.241 112 3.46 15.5 220 39.7 20.15 49 90 1.78 5.12 7.5 10.6 15.76 10.5 7.28 6.97 15.8 63.55 25 7.4 14.06 2.35 269 42 5 3.18 26.1 13.3 18.8 368 0.181 7 2.21 4.1 9.07 4.91 7.95 1.18 11.86 56 6.1 4.76 2.56 3.24 1.67 13.16 75.25 5.19 0.127 1.06 135.9 2.5 2.44 1.52

INDUSTRIAL 36.8 1,012,800 15.36 717,100 0.76 1,680,000 1.25 95,000 0.243 690,000 119.9 380 3.62 8,829,000 15.5 435,500 220 310 40 512,400 20.9 3,700 50 2,290 90 10 1.81 181,000 5.12 900 7.88 14,600 10.76 1,515,800 15.8 926,500 10.6 42,300 7.31 128,900 7 62,365,000 15.96 844,300 63.9 21,550 27 384,600 7.45 583,800 14.06 310,400 2.37 757,000 269 448,860 42.15 300 5.04 16,200 3.18 11,000 26.7 225,000 13.68 700,100 18.92 2,443,700 370 173,720 0.181 250,000 7 17,100 2.22 43,000 4.1 33,000 9.14 1,678,200 4.98 321,500 7.95 10,000 1.18 392,000 11.9 89,700 56.05 734,530 6.25 20,000 4.76 610,000 2.62 132,000 3.24 24,000 1.72 711,000 13.2 284,300 79 3,899,860 5.19 298,000 0.13 250,000 1.08 1,021,000 139.5 324,900 2.5 15,000 2.5 4,548,000 1.52 6,581,000

37,274,900 10,870,308 1,269,400 115,680 167,830 42,800 31,548,870 6,755,620 69,486 20,737,015 75,035 113,860 900 325,220 4,608 111,513 16,324,582 14,636,052 445,062 943,764 436,219,820 13,510,420 1,378,767 10,051,890 4,348,873 4,396,488 1,808,540 121,042,650 12,630 81,081 35,000 5,932,195 9,588,632 46,205,990 64,310,136 45,250 123,009 95,390 135,300 15,308,650 1,606,226 79,500 465,770 1,068,410 41,159,206.50 122,818 2,903,600 341,490 77,960 1,209,470 3,752,950 306,601,106 1,554,520 32,140 1,104,860 44,934,951 37,580 11,262,250 10,194,900

-17,591,295 -1,660,036 60,800 2,450 4,618,660 -1,640,780 -1,592,770 -41,540 -3,720 14,250 87,180 4,311,426 -73,324 -97,899,400 4,637,968 812,214.50 -25,500 -3,964,396 396,728 135,090 -55,497,646 -2,412,835 -404,328 -10,027,466 1,473,520 -19,990 -61,500 7,233,228 -52,376 -2,090,225.50 -27,080 1,708,840 32,500 922,690 -56,499,984 19,328,161 17,500 -1,209,350 -

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 GT CAPITAL 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

0.244 60.3 12.3 0.92 6 30.75 1.64 1.65 1,020 6.1 12.18 6.9 980 58.2 5.13 0.6 4.33 17.3 0.7 5.08 3.49 0.037 1.32 2.76 139 965 1.61 425 258.4 0.335

0.245 60.35 12.56 0.93 6.1 31.95 1.69 1.7 1,024 6.15 12.4 7.1 984.5 58.2 5.13 0.6 4.52 17.8 0.7 5.13 3.5 0.037 1.35 2.78 139.2 975 1.61 425 259 0.335

0.243 59 12.06 0.92 5.98 30.5 1.48 1.52 997.5 5.98 11.98 6.9 962.5 57 5.13 0.58 4.33 17.3 0.67 4.9 3.49 0.037 1.32 2.69 137.5 952.5 1.58 425 258 0.32

HOLDING FIRMS 0.244 930,000 59.3 714,100 12.42 14,222,200 0.92 72,000 6.1 72,000 31 153,000 1.54 138,541,000 1.55 16,719,000 1,010 128,040 6 5,665,400 12.4 1,571,800 7.1 87,500 970 120,410 58.1 482,680 5.13 12,200 0.6 51,000 4.45 2,536,000 17.72 899,900 0.69 6,315,000 4.99 23,158,400 3.5 17,000 0.037 2,300,000 1.34 712,000 2.77 1,028,000 138.3 339,530 960 131,030 1.58 127,000 425 50 259 220 0.325 7,480,000

226,310 42,380,270.50 175,802,220 66,490 435,128 4,750,230 219,431,970 26,711,500 128,646,517.50 34,033,339 19,267,316 620,960 116,903,205 27,971,275.50 62,586 29,640 11,267,620 15,974,542 4,327,110 115,468,340 59,400 85,100 946,870 2,798,830 46,839,814 125,934,840 201,070 21,250 56,840 2,430,900

734,241.50 -22,792,724 255,612 -310,000 2,282,190 -16,775,612.50 1,321,517 12,141,776 -30,447,430 2,853,853.50 504,210 -3,159,054 -206,900 34,130,032 245,760 5,580,944 -25,773,915 -10,376 -

8990 HLDG A BROWN ANCHOR LAND ARTHALAND CORP AYALA LAND BELLE CORP CEB LANDMASTERS CEBU HLDG CEBU PROP A CENTURY PROP CITY AND LAND CITYLAND DEVT CROWN EQUITIES DM WENCESLAO DOUBLEDRAGON EMPIRE EAST FILINVEST LAND GLOBAL ESTATE IRC PROP MEGAWORLD MRC ALLIED PHIL ESTATES PHIL REALTY PRIMEX CORP ROBINSONS LAND ROCKWELL

7.94 1 13.7 0.72 42.95 3.14 4.67 5.35 5.9 0.435 0.97 0.98 0.208 10.2 27.25 0.58 1.46 1.21 1.56 4.85 0.69 0.465 0.5 3.7 20.45 2

7.94 1.05 14.98 0.74 43.2 3.14 4.68 5.44 5.9 0.445 0.97 1 0.214 10.26 28 0.6 1.47 1.22 1.62 4.97 0.7 0.465 0.51 3.79 21.4 2

7.63 0.98 13.5 0.72 41.6 3.1 4.61 5.35 5.9 0.435 0.96 0.98 0.208 9.8 27.25 0.58 1.45 1.21 1.52 4.77 0.66 0.45 0.495 3.64 20 1.97

VOLUME

VALUE

NET FOREIGN BUYING/(SELLING), PHP

NAME

NAME

HIGH

LOW

CLOSE

VOLUME

VALUE

SHANG PROP SM PRIME HLDG STA LUCIA LAND STARMALLS SUNTRUST HOME VISTA LAND

3.22 38.7 1.13 7.43 0.76 6.05

3.25 39.5 1.15 7.6 0.76 6.05

3.2 38 1.13 7.25 0.76 6.02

3.25 38.5 1.15 7.39 0.76 6.04

108,000 5,496,800 578,000 357,400 160,000 1,727,700

348,910 211,345,445 658,820 2,652,586 121,600 10,435,760

-162,500 32,396,810 39,349 -2,527,604

2GO GROUP ABS CBN ACESITE HOTEL APC GROUP APOLLO GLOBAL ASIAN TERMINALS BERJAYA BLOOMBERRY BOULEVARD HLDG CEBU AIR CHELSEA DFNN INC DISCOVERY WORLD EASYCALL GLOBE TELECOM GMA NETWORK GOLDEN BRIA HARBOR STAR IMPERIAL INTL CONTAINER IPEOPLE IPM HLDG ISLAND INFO ISM COMM JACKSTONES LBC EXPRESS LEISURE AND RES LORENZO SHIPPNG MACROASIA MANILA BULLETIN MANILA JOCKEY MELCO RESORTS METRO RETAIL METROALLIANCE A METROALLIANCE B NOW CORP PAL HLDG PAXYS PHIL RACING 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

14.1 24.8 1.46 0.465 0.045 13.5 4.3 10.18 0.054 70 7.05 6.99 2.1 23.25 2,012 5.41 320 3.91 2.1 91.5 12.7 7.84 0.13 3.27 3.56 14.68 4 1.03 27 0.455 4.71 7.59 2.81 2.15 2.1 8.4 8.84 3.74 8.13 110.1 5.31 1,370 0.92 0.38 46.55 87.05 8.3 2.27 1.09 0.78 5.08 0.76 11.7

14.48 25.5 1.46 0.47 0.045 13.5 4.49 10.7 0.056 70.05 7.1 7.3 2.22 23.85 2,020 5.43 334 3.96 2.1 92 12.7 7.85 0.135 3.36 3.63 14.68 4.09 1.05 27.2 0.465 4.93 7.7 2.81 2.15 2.24 8.42 8.84 3.8 8.13 112 5.32 1,378 0.93 0.4 46.9 87.1 8.55 2.32 1.09 0.78 5.14 0.78 11.7

13.9 24.8 1.46 0.465 0.045 13.5 4.22 10.14 0.053 69.8 7 6.84 2.1 21.3 1,964 5.4 311.2 3.86 2.07 90 12.7 7.65 0.13 2.98 3.56 14.62 3.99 1.03 26.5 0.455 4.71 7.3 2.77 2.1 2.1 8.05 8.5 3.67 8.13 110.1 5.23 1,320 0.89 0.38 46.4 86.5 8.28 2.2 1.07 0.72 4.99 0.75 11.5

SERVICES 14.48 25.3 1.46 0.465 0.045 13.5 4.49 10.62 0.053 69.95 7 6.84 2.22 22.4 1,975 5.43 325 3.89 2.07 91 12.7 7.83 0.132 3.08 3.61 14.62 3.99 1.05 26.5 0.465 4.93 7.5 2.8 2.12 2.24 8.25 8.5 3.8 8.13 112 5.3 1,347 0.9 0.385 46.9 86.7 8.55 2.28 1.08 0.73 5.02 0.77 11.56

47,400 181,000 11,000 4,490,000 8,400,000 5,500 10,000 18,112,800 10,910,000 879,420 513,700 14,200 19,000 116,200 85,775 112,300 9,600 778,000 10,000 1,212,740 20,000 25,000 18,880,000 20,499,000 50,000 3,700 1,315,000 239,000 2,000,600 310,000 74,000 2,351,000 320,000 111,000 2,000 5,004,800 10,300 228,000 641,500 14,370 428,000 116,425 8,793,000 14,290,000 97,900 102,050 108,400 5,564,000 487,000 195,270,000 1,885,000 2,827,000 2,090,600

664,334 4,558,320 16,060 2,094,850 378,000 74,250 43,210 190,873,280 590,730 61,533,874 3,607,643 99,545 41,460 2,632,335 169,985,760 607,725 3,104,400 3,031,800 20,730 110,344,723 254,000 195,481 2,513,370 63,602,540 180,360 54,160 5,262,070 249,400 53,445,520 141,900 362,200 17,644,428 890,530 235,390 4,340 41,016,284 90,241 856,480 5,215,395 1,609,193 2,259,543 155,988,245 8,019,740 5,690,950 4,582,180 8,848,385.50 922,215 12,657,840 525,560 146,168,790 9,449,615 2,149,750 24,140,912

8,580 -28,150 76,788,640 -170,100 -11,593,050 385,550 26,400 83,289,395 33,000 42,800 54,613,375.50 1,320 383,650 -364,330.00 5,920,045 5,400,316 -41,640 114,441 17,000 -7,600 13,345 -66,200 14,124,095 630,830 5,011,400 1,585,760 -275,490.50 105,486 1,951,140.00 -234,380 5,927,050 1,035,935 -99,560 -14,222,054

ABRA MINING APEX MINING ATLAS MINING ATOK CENTURY PEAK DIZON MINES FERRONICKEL GEOGRACE LEPANTO A MANILA MINING A MARCVENTURES NICKEL ASIA NIHAO OMICO CORP ORNTL PENINSULA ORNTL PETROL A PHILODRILL PHINMA PETRO PX MINING PXP ENERGY SEMIRARA MINING

0.0026 1.62 3.71 23.15 1.98 7.06 2.01 0.219 0.127 0.0089 1.55 4.8 1.17 0.55 1.04 0.012 0.012 3.01 4.35 15.28 32.25

0.0026 1.63 3.71 24 2.04 7.41 2.02 0.219 0.127 0.0089 1.6 4.85 1.17 0.55 1.09 0.013 0.012 3.15 4.44 15.74 32.9

0.0025 1.55 3.71 21.8 1.98 7.06 1.97 0.203 0.127 0.0089 1.53 4.7 1.12 0.53 1.03 0.012 0.011 3.01 4.24 14.7 31.85

MINING & OIL 0.0026 105,000,000 1.6 7,756,000 3.71 6,000 23 39,000 2.01 975,000 7.41 2,900 2.01 14,902,000 0.203 1,280,000 0.127 4,630,000 0.0089 6,000,000 1.58 1,148,000 4.77 4,673,000 1.17 277,000 0.55 573,000 1.07 1,986,000 0.013 200,000 0.011 46,700,000 3.03 216,000 4.28 1,571,000 15.66 6,173,400 31.85 2,395,500

263,000 12,297,660 22,260 881,725 1,948,620 21,299 29,684,020 263,100 588,010 53,400 1,779,570 22,259,730 312,690 308,730 2,100,170 2,500 518,500 652,720 6,744,930 94,261,712 76,842,350

-50,000 -781,200 -203,460 19,830 -7,158,000 -3,061,530 22,600.00 -60,590 22,700 1,150,562 -12,960,200

ABS HLDG PDR AC PREF B1 AC PREF B2 DD PREF FGEN PREF G GLO PREF P GMA HLDG PDR GTCAP PREF A HOUSE PREF A LR PREF MWIDE PREF PCOR PREF 2A PCOR PREF 2B PNX PREF 3B SFI PREF SMC FB PREF 2 SMC PREF 2B SMC PREF 2D SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2H

24.7 500 503.5 101.9 106 500 5.31 974.5 101 1.02 102.4 1,021 1,049 110 1.92 1,000 91 75 75.3 76 75.3 75.6

26.9 500 503.5 102 106 500 5.34 974.5 101 1.02 102.5 1,021 1,050 110 1.92 1,000 91 75 75.3 76.95 75.3 75.6

24.7 500 503.5 101.5 90.4 490 5.31 974.5 101 1.02 102.4 1,010 1,049 109.9 1.92 1,000 77 75 75.3 76 75.3 75.6

PREFERRED 26 42,100 500 1,000 503.5 1,000 101.5 26,000 102.1 9,430 490 2,000 5.34 70,000 974.5 10 101 20 1.02 200,000 102.5 5,420 1,010 2,120 1,050 3,000 109.9 210 1.92 1,000 1,000 10 77.5 2,360 75 900 75.3 6,320 76.95 8,010 75.3 7,000 75.6 7,650

1,088,255 500,000 503,500 2,650,400 941,243 980,200 372,420 9,745 2,020 204,000 555,078 2,162,210 3,149,925 23,097 1,920 10,000 194,854 67,500 475,896 609,860 527,100 578,340

711,075 -88,312 -

LR WARRANT

2.38

2.44

2.38

WARRANTS 2.43 220,000

531,080

-

3,871,506 3,188,660

-71,870

708,644

34,740

409,548.60 295,850

50,500 -

MS

PROPERTY 7.88 1.04 13.5 0.73 42.9 3.1 4.61 5.44 5.9 0.445 0.96 1 0.21 9.86 27.5 0.6 1.45 1.21 1.59 4.97 0.68 0.455 0.5 3.7 21 2

712,500 16,551,000 27,400 206,000 11,417,400 1,794,000 495,000 19,900 2,000 5,870,000 30,000 504,000 2,010,000 780,000 354,500 5,000 3,663,000 426,000 10,265,000 74,058,000 64,691,000 4,400,000 1,974,000 538,000 3,802,600 66,000

5,542,158 17,056,770 380,338 149,790 487,146,950 5,582,560 2,293,170 107,269 11,800 2,572,200 29,090 497,040 421,660 7,795,203 9,811,495 2,960 5,355,950 517,610 16,143,340 363,564,050,221 44,136,610 1,998,550 985,965 1,979,060 78,858,795 131,760

-1,090,680 27,650 194,893,750 -2,002,740 -859,140 -346,200 -10,150 31,500 -70,080 3,681,415 1,072,470 -115,360 87,670 ,026,759.9997 107,510.00 549,840 12,301,640 2,000

NET FOREIGN BUYING/(SELLING), PHP

OPEN

ITALPINAS XURPAS

5.2 3.1

5.23 3.12

5.09 3.08

FIRST METRO ETF

116.5

116.6

115.8

USD DMPL A1 USD DMPL A2

10.18 10.1

10.18 10.1

10.1 10

TRADING SUMMARY FINANCIAL

SHARES 6,864,104

INDUSTRIAL

108,575,660

HOLDING FIRMS

224,695,022

PROPERTY

247,266,152

SERVICES

330,751,667

MINING & OIL

206,652,785

GRAND TOTAL

1,126,599,969

5.15 3.09

SME

754,200 1,033,000

EXCHANGE TRADED FUNDS 116.2 6,100 10.1 10

DDS

40,270 29,350

VALUE 1,855.65 (down) 7.03 445,920,896.09 FINANCIAL INDUSTRIAL 11,159.88 (up) 34.79 1,350,098,067.842 HOLDING FIRMS 7,742.15 (down) 33.97 1,196,823,842.38 PROPERTY 3,891.74 (up) 3.15 1,538.46 (down) 2.05 1,945,891,213.25 SERVICES MINING & OIL 10,251.89 (down) 38.44 1,132,767,813.227 PSEI 7,820.71 (down) 30.75 251,835,674.784 All Shares Index 4,715.82 (up) 7.21 6,331,111,723.77 Gainers: 90; Losers: 121; Unchanged: 34; Total: 245

Cebu Air’s profit down 24% in first six months

By Darwin G. Amojelar CEBU Air Inc., the operator of Cebu Pacific and Cebgo, said net income fell by more than a fifth in the first six months of 2018 on higher operating expenses brought about by costlier jet fuel prices.

The airline, owned by the Gokongwei Group, said net income amounted to P3.30 billion in the January-to-June period, down 24 percent from P4.3 billion year-on-year Cebu Air registered revenues of P37.83 billion in the six-month period, up 6.1 percent from P35.65 billion revenues generated in the same period last year.

Passenger revenues rose 6.3 percent to P28.30 billion from P26.62 billion a year ago.

Cebu Air attributed the increase in passenger revenues to the 3.7-precent rise in average fares to P2,734 from P2,637 last year.

The growth in passenger volume by 2.6 percent to 10.354 million from 10.094 million last year also contributed to the increase in revenues.

Cargo revenues increased 28 percent to P2.652 billion, while ancillary revenues declined 1.2 percent to P6.87 billion from P6.96 billion last year.

Cebu Air incurred operating expenses of P33.06 billion, up 14 percent from P29 billion last year.

Cebu Air blamed the increase in operating expenses to the rise in fuel prices in 2018, coupled with the weakening of the Philippine peso against the US dollar.

The peso averaged 51.98 per US dollar in the first six months from an average of 49.93 last year.

The growth in the airline’s seat capacity from the acquisition of new aircraft also contributed to the increase in expenses.

Flying operations expenses climbed 18 percent to P14.52 billion from P12.29 billion incurred in the same period last year. This was largely brought about by the 22.7-percent increase in aviation fuel expenses to P12.337 billion from P10.05 billion last year.

Jet fuel prices averaged $84 a barrel in the six months from $63 per barrel in 2017.

PSBank says first-half earnings up 15% to P1.35b

By Julito G. Rada PHILIPPINE Savings Bank, the consumer banking arm of the Metrobank Group, said net income in the first half rose 14.7 percent to P1.35 billion from P1.18 billion a year ago on the sustained strength of core businesses.

The bank said in a disclosure to the stock exchange Thursday the strong performance was due to robust revenues driven by net interest income and service fees.

Net interest income improved to P5.85 billion, up 8.8 percent from P5.38 billion a year earlier.

PSBank’s total loan portfolio in the first half of the year showed a doubledigit growth of 10.7 percent to P151.62 billion from P137.01 billion in 2017.

“Our first half performance is a continuous realization of our institutional strategy which focuses on the strength of our brand promise of consistently providing exceptional end-to-end customer experience. We have likewise tapped on the latest available digital technology to improve on process efficiencies to bring the cost of operations down while maximizing the full potential of our sales distribution channels in generating more business for the bank,” PSBank president Jose Vicente Alde said.

Resources totaled P234.76 billion, up 7 .4 percent from the same period last year, while deposits rose 9 percent to P200.09 billion.

The bank’s earnings translated into a return on equity of 11.83 percent.

Common Equity Tier 1 ratio was at 11 percent and capital adequacy ratio—a measure of financial strength— was at 13.7 percent. Both ratios are above the minimum required level set by the Bangko Sentral ng Pilipinas.

PSBank currently has 250 branches and over 600 automated teller machines strategically located nationwide.

World

B3

FRIDAY, AUGUST 10, 2018 CESAR BARRIOQUINTO, Editor mst.daydesk@gmail.com

US to impose new sanctions on Russia over attack in UK W ASHINGTON―The United States said Wednesday it was imposing new sanctions on Russia over Moscow’s involvement in the use of a “lethal” nerve agent in the attempted killing of a former spy in Britain.

The State Department said the sanctions were in response to “the use of a ‘Novichok’ nerve agent in an attempt to assassinate UK citizen Sergei Skripal”―who was a double agent―and his daughter Yulia in March.

The action is aimed at punishing President Vladimir Putin’s government for having “used

chemical or biological weapons in violation of international law,” State Department spokeswoman Heather Nauert said in a statement.

The new sanctions were to take effect following a 15-day Congressional notification period, she said.

Another senior State Department official told reporters that the administration decided to impose a “presumption of denial” for the sale to Russia of “national security sensitive” US technologies that require federal government approval.

Such technologies have often been used in items including electronic devices as well as calibration equipment. The exports were previously allowed on a case-by-case basis.

The move could cut off hundreds of millions of dollars worth of exports to Russia, said the official, who requested anonymity in

Manila

SCREENING. Dogs pose on the red carpet at the ‘ALPHA-Bring Your Own Dog screening at Roxie Theater on August 8, 2018 ,in San Francisco, California. AFP

Strong aftershock rattles survivors of deadly quake MATARAM, Indonesia―A strong aftershock struck Indonesia’s Lombok Thursday, causing panic among the evacuees already traumatized by a devastating earthquake that killed more than 160 on the holiday island four days earlier.

The 5.9-magnitude quake struck at a shallow depth in the northwest of the island, the US Geological Survey said, even as relief agencies raced to find survivors among the wreckage from Sunday’s quake.

It was the strongest of some 355 aftershocks that have rattled the island since Sunday, national disaster agency spokesman Sutopo Purwo Nugroho said.

Evacuees at a shelter in northern Lombok’s Tanjung district ran out onto the road crying and screaming, an AFP reporter at the scene said.

Motorcycles parked on the street toppled over and the walls of some nearby buildings collapsed.

A woman wearing a motorbike

helmet was seen crying with her two daughters in her arms.

“We were stuck in the traffic while delivering aid, suddenly it felt like our car was hit from behind, it was so strong,” witness Sri Laksmi told AFP. “People in the street began to panic and got out of their cars, they ran in different directions in the middle of the traffic.”

The aftershock comes just four days after a devastating 6.9-magnitude earthquake struck Lombok, which relief agencies said had wiped out entire villages in the worst-hit regions in the north and west.

A total of 164 people were now confirmed dead in the quake, Nugroho told AFP, with a further 1,400 seriously injured and more than 150,000 displaced.

State-run news agency Antara reported overnight 347 had been killed by the quake, but Nugroho said the tally was incomplete and unverified. AFP

ERC CASE NO. 2018-058 RC

ISABELA II ELECTRIC COOPERATIVE, INC. (ISELCO II), Applicant. x - -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - x

7.

Anent the above, ISELCO II likewise pleads for the consideration and benevolence of this Honorable Commission to grant the cooperative the Authority to Secure Loan so as to minimize the possible effect on the existing RFSC rate upon project implementation and thereby give the cooperative flexibility in managing its finances.

8.

Notwithstanding, ISELCO II shall further look for financial institution that can provide the least financing plan for the benefit of the consumers.

9.

To emphasize the need of the availment of aforesaid loan, Tables on Rate Impact of the Project, indicating possible effects on the existing RFSC rate (PhP0.3693/kwh) of ISELCO II, on project without loan as compared to that which is with loan at 6.5% interest for payable in ten (10) years, are attached hereto and respectively marked as ANNEXES “D” and “E”.

NOTICE OF PUBLIC HEARING TO ALL INTERESTED PARTIES: Notice is hereby given that on 20 June 2018, an Application dated 2 May 2018 was filed by Applicant Isabela II Electric Cooperative, Inc. (ISELCO II), seeking the Commission’s approval of its two (2) emergency capital expenditure projects, with application for authority to secure loan from the National Electrification Administration (NEA).

ISELCO II alleged the following in its Application: 1.

That herein applicant is the exclusive franchise holder issued by the National Electrification Administration (NEA) to operate an electric light and power services in the following municipalities of the Province of Isabela: Ilagan, Cabagan, San Pablo, Sta Maria, Naguilian, Gamu, Roxas, Aurora, Mallig, Sto Tomas, Delfin Albano, Tumauini, Quezon, Quirino, San Manuel, Burgos, Benito Soliven, San Mariano, Maconacon, Palanan and Divilacan.

2.

That applicant is an electric cooperative duly organized and existing under and by virtue of the laws of the Philippines, with principal office at Barangay Alibagu, Ilagan, Isabela, where it may be served with summons and other legal processes.

LEGAL BASIS FOR THE APPLICATION

3.

Article III of ERC Resolution No. 26, Series of 20091 as well as other pertinent laws and rul es.

4.

Summary of Identified Problems:

PROPOSED EMERGENCY CAPITAL PROJECTS

4.1.

CABAGAN SUBSTATION- The 10 MVA power transformer of Cabagan Substation was damaged (burned) due to insulation breakdown of the equipment. The existing substation structures and facilities (gantry structures, grounding system, etc.) of Cabagan Substation are in deteriorated condition.

4.2.

The damaged Cabagan Substation was temporarily equipped with power fuse as the main protective equipment of the substation. Pursuant to Section GCR 4.6.1.2 of the Philippine Grid Code (PGC), all substations should be controlled by circuit breakers that are capable of interrupting the maximum short circuit current at the point of connection. Thus, the urgent need for installation of 12/15 MVA power transformer at Cabagan Substation and site rehabilitation.

4.3.

NAGUILIAN SUBSTATION- The project includes replacing the damaged primary and secondary protection of Naguilian Substation by installing one (1) unit 69kV SF6 Power Circuit Breaker, 15kV indoor switchgear with complete accessories, control protection panel, DC power supply, and two (2) units of 15kV automatic recloser in Naguilian Substation.

Senate votes against abortion

4.4.

The scope of works include supply and delivery, installation, testing and commissioning of the 69kV SF6 PCB, medium voltage switchgear including its accessories, and automatic recloser, civil and electrical works, testing and commissioning. A copy of the single line diagram is attached hereto and marked as ANNEX “A”.

4.5.

The Energy Regulatory Commission was duly notified of the above incidents. Copies of said Notices are attached hereto and respectively marked as ANNEXES “B” and “C”.

5.

Anent the above, ISELCO II arrived at two (2) capital projects to address the identified problems. These projects are the result of the technical and economic evaluation performed on several project ideas that were formulated during the planning process. Below are the two (2) projects being proposed as follows: 5.1

Proposed Capital Projects

10. Lastly, evidences2 that will substantiate the allegations and data are likewise attached hereto and respectively marked as ANNEXES.

Proposed Projects

UN chief sounds nuclear warning

Project Type

Project Category

Installation of 12/15 MVA power transformer at Cabagan Substation and site rehabilitation

Safety / Capacity

Substation Project

Installation of primary and secondary protective devices for Naguilian Substation

Safety

Primary Distribution Project

No.

Title

1

2

5.2

TOKYO―Millions still live in fear of nuclear war with many countries ramping up their atomic arsenals, the head of the United Nations warned Thursday, marking the anniversary of the Nagasaki bombing.

Antonio Guterres, the first sitting UN secretary general to attend ceremonies honoring those who died in the bombing, said that even 73 years later, there was still a “shadow cast by the dread of unthinkable carnage.”

Nuclear-armed states are spending “vast sums” to modernize their arsenals and “disarmament processes have slowed and even come to a halt,” Guterres said.

“There is an urgent need for disarmament of all kinds, but especially nuclear disarmament,” he said.

The US dropped the first atomic bomb on Hiroshima on August 6, 1945, killing around 140,000 people. The toll includes those who survived the explosion itself but died soon after from severe radiation exposure.

Three days later, the US dropped a plutonium bomb on the port city of Nagasaki, killing some 74,000 people.

Japan announced its surrender in World War II on August 15, 1945.

On Thursday in Nagasaki, crowds flocked to pray and pay their respects at the 33-foot-high peace statue.AFP

Brief Description / Rationale of the Proposed Projects

Proposed Projects No.

Title

1

Installation of 12/15 MVA power transformer at Cabagan Substation and site rehabilitation

2

5.3

Installation of primary and secondary protective devices for Naguilian Substation

Project Description / Rationale Replacement of the damaged 10 MVA power transformer of Cabagan Substation to a 12/15 MVA capacity transformer.

Simultaneous to this project is the complete rehabilitation of Cabagan Substation including the installation of the necessary protective equipment to address the safety concern due to the deteriorated condition of the substation and non-compliance with the requirement of the PGC. Replacement of the damaged protective equipment of Naguilian Substation to maintain the safety level of the system

Proposed Project Cost

Proposed Projects

Shanghai swelters under summer heat

SHANGHAI―As Shanghai swelters under a summer heat wave, it sometimes looks as if people are dropping dead from the torrid temperatures on the city’s best-known shopping avenue.

Normally bustling Nanjing East Road has turned into an open-air slumber party on recent nights as local residents try to escape the heat of their cramped nearby homes by sleeping outside on benches or directly on the pavement.

The city of more than 24 million people has endured an extended hot spell over recent weeks, with temperatures on Thursday topping 35 degrees Celsius (95 F) for the 16th day this summer.

Many homes in some of Shanghai’s low-rise older neighborhoods lack air conditioning, while residents that do have it will often seek ways to keep electricity bills from skyrocketing during summer.

Around 4 am on Thursday nearly 100 people―including women and children, but mostly bare-chested men―were seen sleeping out on sidewalks normally crowded with shoppers and tourists during the daytime.

Dozing upon newspapers, blankets, or nothing at all, they sought relief from a night breeze blowing off the Huangpu River, which flows through the city center and includes the famed Bund financial district. AFP

San Miguel Avenue, Pasig City

IN THE MATTER OF THE APPLICATION FOR THE APPROVAL OF TWO (2) EMERGENCY CAPITAL EXPENDITURE PROJECTS, WITH APPLICATION FOR AUTHORITY TO SECURE LOAN FROM THE NATIONAL ELECTRIFICATION ADMINISTRATION (NEA)

IN BRIEF BUENOS AIRES―Argentine senators on Thursday voted against legalizing abortion in the homeland of Pope Francis, dashing the hopes of women’s rights groups after the bill was approved by the legislature’s lower house in June.

The vote, with 38 against, 31 in favor and two abstentions, capped a marathon session that began the day before and stretched into the early hours of Thursday before its final conclusion.

Fireworks and shouts of joy erupted among anti-abortion activists camped outside Congress, while pro-choice campaigners, many decked in the green scarves that had come to symbolize their movement, were downcast.

Some burnt garbage and wooden pallets and threw stones at riot police, who attempted to disperse them with tear gas and water cannon.

The vote followed a referendum in Ireland, another traditionally Catholic country, in May that paved the way to legislate for the termination of fetuses. It also came after months of fiercely polarized campaigns on the hot-button issue.

The bill was passed by Congress’s lower house in June by the narrowest of margins, but was widely expected to fall short of the votes needed to pass in the Senate. AFP

Reinvestment Fund for Sustainable CAPEX (RFSC) of the cooperative and availment of loan from NEA at 6.25% interest rate per annum for a period of ten (10) years.

Republic of the Philippines StandardENERGY REGULATORY COMMISSION

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order to speak about the sanctions.

House Foreign Affairs Committee chairman Ed Royce, who had pushed months ago for Trump to take action over Russia’s use of banned weapons, applauded the move as “key to increasing pressure on Russia.”

“Vladimir Putin must know that we will not tolerate his deadly acts, or his ongoing attacks on our democratic process,” Royce said.

Sanctions waivers are in place for certain key sectors, including space flight activities and commercial aviation safety, the official said.

The action follows the US Treasury’s imposition of sanctions in March against 19 Russian citizens and five entities for interfering in the 2016 US election -- the toughest steps against Moscow since President Donald Trump took office. AFP

Project Cost (Php)

No.

Title

1

Installation of 12/15 MVA power transformer at Cabagan Substation and site rehabilitation

51,700,000.00

2

Installation of primary and secondary protective devices for Naguilian Substation

13,700 ,287.00

5.4

Further, ISELCO II prays that the Honorable Commission grant the cooperative the Authority to Secure Loan from the National Electrification Administration (NEA).

Other reliefs, just and equitable in the premises are likewise prayed for.

The Commission has set the Application for determination of compliance with the jurisdictional requirements, expository presentation, Pre-trial Conference, and presentation of evidence on 13 September 2018 at one o’clock in the afternoon (1:00 P.M.), at ISELCO II’s principal office at Brgy. Alibagu, Hagan, Isabela.

All persons who have an interest in the subject matter of the instant case may become a party by filing with the Commission a verified Petition to Intervene at least five (5) days prior to the initial hearing and subject to the requirements under Rule 9 of the 2006 ERC Rules of Practice and Procedure, indicating therein the docket number and title of the case and stating the following: 1)

The petitioner’s name and address;

2)

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

3)

A statement of the relief desired.

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

The name and address of such person;

2)

A concise statement of the Opposition or Comment; and

3)

The grounds relied upon.

All such persons who wish to have a copy of the Application may request from Applicant that it be furnished with the same, prior to the date of the initial hearing. Applicant is hereby directed to furnish all those making such request with copies of the Application and its attachments, subject to the reimbursement of reasonable photocopying costs. Any such person may likewise examine the Application and other pertinent records filed with the Commission during the standard office hours.

Pasig City, 18 July 2018.

FOR AND BY AUTHORITY OF THE COMMISSION:

Proposed Schedule

Proposed Projects

PRAYER WHEREFORE, premises considered, it is most respectfully prayed of this Honorable Commission that after due notice and hearing, the Isabela II Electric Cooperative, Inc.’s (ISELCO II’s) proposed emergency capital projects, installation of 12/15 MVA power transformer at Cabagan Substation and site rehabilitation including the replacement of the damaged primary and secondary protection of Naguilian Substation, be confirmed and approved,

Project Schedule

No.

Title

1

Installation of 12/15 MVA power transformer at Cabagan Substation and site rehabilitation

Start of Project : February 27,2018, Completion Date: February 2019

2

Installation of primary and secondary protective devices for Naguilian Substation

Start of Project : July 24, 2017 Date Completed: September 19, 2017

AGNES VST DEVANADERA Chairperson and CEO

PROJECT FINANCING & INDICATIVE RATE IMPACT 6.

The financing of the emergency CAPEX plan will be sourced through the

(MS-AUG. 10 & 17, 2018)

LGUs

Manila

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

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friday, august 10, 2018

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LocaL government units

C. Luzon cops gain 2 awards in PNP rites

(MS-AUG. 10, 2018)

By Romeo Dizon

CAMp oliVAS, pampanga—The police Regional office in Central luzon received two awards from president Rodrigo R. Duterte during the 117th anniversary celebration of the philippine National police at its general headquarters in Camp Crame, Quezon City. police Regional Director Chief Supt. Amador Corpus received the Special Unit Award for Exemplary Accomplishment in the Solution of Sensational Criminal Cases, while police Supt. ponciano Zafra, chief of police of Cabanatuan City, received the award for Best Component City police Station of the year.

The president, who was the guest of honor and speaker during the celebration, cited the police officers for their immediate solution of different crimes in the region, including sensational cases that hit the front pages of national papers in the country in the past months.

Corpus said the awards will surely inspire men and women of pRo3 to be more dedicated and honest in doing their jobs, specially eradicating criminalities and illegal drugs in the region.

“The recognition bestowed to pRo3 by the president and general headquarters lift our moral and to work and fight against criminalities and illegal drugs in our jurisdiction,” Corpus added.

MALL SAFARI. Children look at different mechanical animals displayed at SM City Dasmariñas in Cavite during the opening of the ‘Jungle Safari in the Mall’ on Sunday. The display aims to educate the children about animals that they may only see in zoos and in the wild. Norman Cruz

Makati expands baby program via OsMak

By Joel E. Zurbano

HOUSING AND LAND USE REGULATORY BOARD Expanded National Capital Region Field Office 6th Floor, Sunnymede IT Center, Quezon Avenue Quezon City NOTICE Notice is hereby given that CITYLAND INCORPORATED, (owner/ developer), has filed with this Board for the sale of condominium units of ONE PREMIER located in Alabang Premier, Alabang Zapote Road, Brgy. Almanza Uno, Las Piñas City, specifically described as Lot 3-A-3-D, Psd-00-093911, covered by TCT No3005-2017003443, with a total area of 1,828 square meters.

That the above owner/developer has issued an Affidavit of Undertaking in lieu of the proof of compliance to the modes and manners provided by RA 7279 as amended by RA 10884. That within six (6) months after the issuance of the License to Sell, the owner/developer of the main project shall submit the proof of compliance per HLURB`s revised IRR by which the developer of the main project can fulfill and satisfy the balanced housing development requirement.

All papers relative thereto shall, upon request and payment of processing fee, be available for inspection during business hours by any person having legal interest thereon.

Absent any legal impediment, the name of the above-cited project is deemed registered and a certificate, in evidence thereof, shall forthwith be issued after five (5) days from the last day of publication.

Quezon City, Metro Manila, JUN 05, 2018.

(SGD) ATTY. NORMAN JACINTO P. DORAL Officer in Charge

M

AKATi Mayor Abigail Binay has moved to ensure the health and safety of mother and child through the expanded Baby Makatizen program, which pushes for regular pre-natal checkups at the city-run ospital ng Makati and health centers under the supervision of the Makati Health Department. on Tuesday, Binay awarded Baby Makatizen starter bags to 30 expectant mothers as well as those who have just given birth at osMak and Barangay pembo Health Center, who made up the first set of beneficiaries of the expanded program.

Each bag contains a swaddle blanket, wash cloth, booties, belly binder, rattle, poly bag, tie side and pajamas, baby cap, mittens, baby wipes, diapers, and reusable baby bag.

“i am encouraging all expectant mothers to diligently go to our health centers and osMak for regular pre-natal visits. These periodic checkups not only make sure that the baby is healthy, but also monitor for possible complications like diabetes and high blood pressure on the part of the mother,” she said. “if left unchecked or untreated, these conditions could seriously endanger the life of both mother and child,” said Binay.

The city chief executive said each preg-

nant woman should undergo at least eight pre-natal checkups. Two during the first trimester; two in the second trimester; and four in the last trimester.

The frequency of checkups increases as the due date or delivery date draws near, she noted, as close monitoring of mother and baby’s progress lessens the likelihood of complications during delivery.

The Baby Makatizen program was first launched in May 2018 to promote the welfare of both mother and child through timely birth registration and adequate prenatal care.

The first recipients of the starter bags were 100 mothers who registered their babies within 30 days after giving birth between January to March this year.

After the launch, the MHD rolled out the program to all barangay health centers, osMak, and partner-private hospitals and clinics in the city.

REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL C OURT NATIONAL CAPITAL JUDICIAL REGION OFFICE OF THE CLERK OF COURT & EX-OFFICIO SHERIFF MANDALUYONG CITY SPS. WILSON T. DE VERA AND NORA J. DE VERA Mortgagee/s, -versus-

SPS. ABUDANCIO G. MARCIAL AND ELIZABETH E. MARCIAL and All the persons claiming under their rights, Mortgagor/s. x----------------------------------------------------x

NOTICE OF SHERIFF’s SALE Upon Extra-Judicial Petition for sale under Act 3135 as amended by Act 4118 filed by Sps. Wilson T. De Vera and Nora J. De Vera, as Mortgagee, against Sps. Abudancio G. Marcial and Elizabeth E. Marcial and All the persons claiming under their rights, as Mortgagor/s, and with postal address and a residents of No. 624 F. Blumentritt Street, Hulo, Mandaluyong City, to satisfy the mortgaged indebtedness which as of May 22, 2018 amounts to PESOS: ONE MILLION FOUR HUNDRED THOUSAND & 00/100 ONLY (Php 1,400,000.00) Philippine Currency, excluding penalties, liquidated penalties, past due interest, attorney’s fee in the amount of Two Hundred Thousand Pesos (Php 200,000.00) Philippine Currency, past due, other charges, taxes and cost of the foreclosure, the Ex-Officio Sheriff of Mandaluyong City or his duly authorized deputy will sell at PUBLIC AUCTION to the HIGHEST BIDDER FOR CASH OR MANAGERS CHECK and in Philippine Currency on the 24th 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:

By F. Pearl A. Gajunera

TRANSFER CERTIFICATE OF TITLE NO. -19410Registry of Deeds – City of Mandaluyong

(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.

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)

Alipio “Al” Fernandez Jr., the former mayor of Dagupan City who also served as immigration commissioner and local Governments undersecretary, passed away on Thursday morning in Manila after a battle with cancer. He was 75.

Fernandez was elected mayor in 1992 and served three consecutive terms, following in the footsteps of his father Alipio Sr., who was Dagupan’s first mayor when it became a chartered city in 1947.

He attempted to regain the mayoral seat in the 2010 elections but was beaten by former congressman Benjamin lim, who stepped down himself after suffering a stroke.

Fernandez’s running mate, Belen Fernandez (no relation), succeeded lim as mayor and still holds the post.

“Today, Dagupan lost a true visionary leader, pioneer, and dedicated public servant,” Mayor Belen Fernandez said on her Facebook page. “personally, i mourn the passing of a wise mentor, dependable counsel, and dear friend.”

Fernandez Jr. began his political career as a city councilor in 1971, then laid low during the Martial law years before winning the vice mayoralty after the Edsa Revolution in 1986.

Unique crown up for grabs in Hiyas festival

FRE-MC18-1052 FOR: Extra-Judicial Foreclosure of Estate Mortgage under Act No. 3135, as amended

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.

Former Dagupan mayor Fernandez passes away at 75

TOWN FIESTA. Undersecretary Dave Almarinez, president

and CEO of the Philippine International Trading Corp., reaches down to the crowd after delivering a special song number at the Celebrity Night during the town fiesta of Sta. Maria, Laguna on Aug. 2. Almarinez, a native of Laguna, later joined host Sta. Maria Mayor Tony Carolino, Cindy Carolino and rapper Gloc-9 (inset). Roy Tomandao

Bambang mayor suspended over open dumpsite

By Ben Moses Ebreo BAMBANG, Nueva Vizcaya—The office of the ombudsman has suspended Mayor Flaviano Dizon Balgos here for allowing the use of a dumpsite despite the implementation of the Ecological Solid Waste Management Act or Republic Act 9003.

RA 9003, signed into law in 2000, prohibited the use of open dumpsites for solid wastes and encouraged local governments to convert them into controlled dumps, three years after its effectivity.

Balgos was slapped with a one-year

suspension without pay for gross neglect of duty by then-ombudsman Conchita Carpio Morales in a decision dated April 20, 2018.

The decision came after the local government failed to completely close the 3,500 square meter open dumpsite in sitio paungan, barangay Aliaga here.

The case was filed by the Special panel of Environmental ombudsman investigators against Balgos, Vice Mayor Arnel Hernandez and Sangguniang Bayan members Arnel Duldulao, Mark Joel pablo Balgos, Gregorio Bravo Allas,Jr., Antonio Corales Ngabbu,

Sharon Guiao Tolentino, Aira Mae Siruno Viloria and lucito Agaran.

The Environmental ombudsman inspection team on Nov. 17, 2016 found out that several pickers were found scavenging over the mounds of mixed garbage in the dumpsite in Aliaga.

A report of the DENREnvironmental Management Bureau in Nueva Vizcaya dated April 7, 2015 also disclosed that the dumpsite had been reopened.

DAVAo CiTY—The women representing the city’s 11 indigeonous tribes in the Hiyas ng Kadayawan this year have their eyes on the crown—the literal headpiece, that is—heading into the festival’s coronation night on Saturday.

That’s because this year’s pageant will feature a new diadem that represents one of Davao City’s gems—the waling-waling flower or Vanda sanderiana.

Waling-waling, which is endemic in Mindanao, is the queen of philippine orchids. it is one of the icons of Davao City and featured in the city’s “life is Here” brand.

A lot of work had been invested into the making of the new crowns, from the conceptualization up to the actual creation, said Dan Salvana Jr., the Hiyas ng Kadayawan events director for the second consecutive year.

“This year’s Hiyas ng Kadayawan crown is grander and more funct io n a l ,” Salvana said.

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Bernadette Lunas, Issue Editor manilastandardlife@gmail.com @manilastandardlife @MstandardLifE

Culture and media

Jon Santos, OJ Mariano, and Gian Magdangal play the lead characters Anthony, Emman, and Hector, respectively.

friday, august 10, 2018

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The cast in 'Toyang's Canteen' segment of the musical.

‘Ang Huling El BimBo’:

A story on friendship told through iconic ‘90s hits

By Gabbie Parlade and Paola navarette

T

hOSe who were born or grew up in the ‘90s are familiar with the classic songs of Filipino rock band eraserheads. We bought their tapes, memorized their songs' lyrics, and sang along to them. Many relate to their music, finding meaning to the stories told.

One story, currently playing on stage, revolves around these iconic songs.

Written by Dingdong novenario, Ang Huling El Bimbo is about a group of friends whose lives were drastically changed one tragic night.

The musical play, produced by resorts World Manila and Full house Theater Company, in cooperation with Ultimate Shows, inc., premiered on July 26 at the newport Performing Arts Theater.

Set in two timelines: the ‘90s and present, it follows the lives of Joy, hector, emman, and Anthony from college until the time they parted ways.

Seasoned stage actors Jon Santos, OJ Mariano, and Gian Magdangal play Anthony, emman, and hector, respectively. While Topper Fabregas, Boo Gabunada, and reb Atadero/Bibo reyes respectively portray the younger versions of Anthony, emman, and hector.

The three former college buddies reunite after two decades to address their unresolved issues.

The musical production deals with the underlying issue of rape and corruption told through the life of Joy. Tanya Manalang, who stars as the young Joy shared

that her character is one of the most important members of the cast as she serves as the glue holding the barkada together even after a series of tragic moments that occurred in her life.

“Joy became the glue kahit nag-FO [friendship over] na sila,” Manalang said in an exclusive interview.

Menchu Lauchengco-yulo portrays the older Joy. While the music used are eraserheads songs, the materials are original and meticulously made. Musical director Myke Salomon impeccably weaved some of the band’s hit tracks such as “With a Smile,” “Ligaya,” “Pare Ko,” and “Alapaap” into the narrative of the story.

A classic eheads song perfectly matches each scene, dramatizing the suffering and emotion each character deals with. it shines a light on the universality of the themes of complex social and human relationships. no doubt, Ang Huling El Bimbo is stirring some attention. its music and performances captivated the audience during the gala premiere. The audience went home feeling contented and happy after reliving their days back in the '90s.

Ang Huling El Bimbo runs until Sept. 2 at the Newport Performing Arts Theater in Resorts World Manila.

Jon Santos as Anthony

Tanya Manalang as young Joy

Gian Magdangal as Hector

OJ Mariano as Emman

Moscow photo contest winners on display in Manila ThirTy-nine award-winning photographs on people, nature, fine arts, and sports, from the Moscow international Foto Awards 2018 is currently on display at the Photography Gallery of the De La Salle-College of Saint Benilde School of Design and Arts Campus.

Founded in 2014, MiFA’s mission is to encourage, recognize, reward, and pro-

mote talented photographers who capture priceless moments around russia. ruston Banal, Philippine country representative of international Photography Awards, expressed appreciation for being able to showcase in our country the several glimpses of life from other parts of the globe.

Leading to the launch of the exhibit, back-to-back workshops were held.

hossein Farmani facilitated a lecture entitled “Selling your Prints,” which tackled the intricate promotion and marketing of one’s own available pictures that are available to the public.

Farmani is the founder of the soughtafter "The Lucie"—the Oscars for photography—one of the most prestigious photography distinctions in the world, which

recognizes the best photos of the year, in different fields chosen by a revered jury. he is also known for his collection of fine prints from industry experts such as henri Cartier-bresson, Steve McCurry, Annie Leibovits, James nachwey, and richard Avedon, to name a few.

DLS-CSB Photography Program chairperson Francis Tady, meanwhile,

spearheaded the "One Shot, One Minute" project, which granted opportunities for photographers to showcase their images coupled with individual 60-second stories.

The event is made possible through the collaboration of the MiFA and the Filipino iPA. The MIFA exhibit is open until September 28.

Winning photos at the Moscow International Foto Awards 2018 currently on display in Manila (from left) A Flower Is Not A Flower, A Tribute to Orlando, Ensemble, and Acrobats and Ballet Dancers.

From left: The Sapeurs of Brazzaville, Mother and Daughter, Scimitar, and Wembley Park

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FRIDAY, AUGUST 10, 2018

nickie.standard@gmail.com

Entertainment

Nickie Wang, Issue Editor

Mixing food and politics on ANC’s ‘Food Diplomacy’

SENIOR ACTORS. Cast members (from left) Perla Bautista, Dante Rivero and Stanley Abuloc in a movie still from the Cinemalaya entry, ‘Kung Paano Hinintay ang Dapithapon.’

People in their twilight years are the new craze in local films HERE’S an interesting story about septuagenarians—Teresa and his husband Celso—that was given life in the film Kung Paano Hihintay ang Dapithapon (Waiting for Sunset) by a young filmmaker Carlo Catu (he also made Ari: My Life the King).

Teresa and Celso’s life was like any other septuagenarian couples in the Philippines, but a dramatic turn of events, changes the texture of their daily life. Teresa’s estranged first husband, Benedicto, reaches out to her seeking reconciliation and forgiveness.

Will Teresa accept him and how would Celso feel about this?

That’s the premise of the film (that premiered last Wednesday night at the CCP for Cinemalaya), which, to me, was poignant enough to be given enough attention because it is not about a young romantic love, about three mature people in their twilight years, waiting for the sun to set and finally say goodbye to life.

Will the so-called millennials find this story interesting enough for their gadget-defined taste in cinema?

Catu, a Kapampangan who found the story idea out of the ordinary and thought provoking, said that he, being one himself, is curious about what he would face when he reaches that stage in life. He said he has seen people and couples in this age and wondered what life they are leading now. Are they happy? Or are they troubled? Are they anxious as the day of their departure gets close and closer?

Are they prepared to leave?

Perla Bautista (one of the leading ladies in the 60s) who is playing Teresa said during the press conference about her character, “Teresa has forgiven her first husband, Benedicto who is played by Dante Rivero and who had left her for another woman. She has moved on and leading a peaceful and quiet life with Celso (Menggie Cobarrubias). But Benedicto is dying and wanted forgiveness, so she decided to take him in. Teresa and Celso agreed to take care of the dying man.”

Cobarrubias said that in real life if her former wife would do the same he wouldn’t know if he could do what Teresa did. “I don’t know how I’d feel. But Teresa is a forgiving woman, and Celso has a magnanimous heart,” he said.

Rivero, on the other hand, said of his character, “His life is over. Benedicto simply wanted to make peace with his first wife whom he loved that’s why he married her.”

This film reminds me of the Robert Redford and Jane Fonda film, Our Souls at Night, about two septuagenarian widow and widower that find connection with each other when they agreed to sleep with each other platonically.

It is interesting to note that many young people, especially those creating stories in films, are beginning to explore the subject of loneliness and companionship among older people.

“This is what I’m trying to show in this film,” said Catu.

Dapithapon also stars the former child star Romnick Sarmenta, Che Ramos, Ryan Ronquillo, Jacqueline Cortez, Dunhill Banzon, and Stanley Abuloc.

It is showing as well in select Ayala Malls cinemas.

Talk show with Edu? The talk format is getting to be an endangered format on Philippine free-to-air TV. It has sought refuge in cable TV channels, like ANC, which is hosting LSS: The Martin Nievera Show at 10:30 p.m. on Monday.

Nievera has been dying to get back on camera to show off his talk show hosting skills, and he’s happy that ANC, the ABS-CBN news channel, has given him another chance.

I’ve seen some episodes of the show and still Nievera owns the screen, allowing only his guests to steal it once in a while.

But, what I am looking forward to watching on TV, whether free-to-air station or cable channels another talk show hosted perhaps by Edu Manzano. I remember in the late 1980s when he hosted Not So Late Night With Edu on ABS-CBN. It was one of the funniest talk shows (local) I’ve seen in years, and I felt bad when in 1988 it was axed to give way to Tagalog shows.

I don’t know if ANC, the ABS-CBN channel has ever thought of creating a talk format with Manzano, he is after all in the Kapamilya network now playing Vice President Lucas Cabrera in FPJ’s Ang Probinsyano.

Will I and Edu’s fans ever see him again in a talk show?

Big comeback Nokia phones are making a big comeback.

Shannon Mead, country manager of HMD Global Philippines, said: “We make sure that at HMD Global, we provide mobile experience customized to the needs and style of our diverse markets. More than the promise of innovation, we create technology that is accessible and reliable without compromising premium quality.”

The Nokia 1 is equipped with a quad-core processor, front and rear cameras, 4G connectivity and dual-SIM support, elevating the feature phone experience in an accessible smartphone package.

The Nokia 8110 is a durable phone that delivers crystalclear VoLTE calls. With its 4G connectivity, users can access apps such as Google Assistant, Google Maps, Google Search, Facebook and Twitter while performing basic tasks such as sending and receiving emails, importing contacts, and syncing calendar with Outlook and Gmail. The Wi-Fi capability lets Nokia 8110 serve as a portable hotspot, letting you share internet connection with up to 10 devices at once.

The Nokia 1 is available in Warm Red and Dark Blue while the Nokia 8110 4G comes in Traditional Black and Banana Yellow. Both come at an affordable price of P3,990.

SEASONED broadcast journalist Annalisa Burgos takes viewers around the world right here in Manila as she sits down with foreign ambassadors to discuss politics, culture, and food in the comfort of their homes in Food Diplomacy.

The segment, which airs every Friday during Early Edition on ANC, the ABS-CBN News Channel, gives viewers a chance to learn about other food cultures and understand historical ties with other countries, as Burgos converses with foreign dignitaries from countries such as United Kingdom, United States of America, France, and the United Arab Emirates in an informal setting away from the newsroom.

“Food makes politics and foreign affairs fun,” said Burgos. “Everyone loves food, but not everyone knows what the governments of other countries are doing in the Philippines and the role they play in local economies.”

Annalisa, who used to host an international food travel series, said she hopes to engage people by featuring food in her segment and make them aware of global issues in the process.

On the next episodes, viewers can also look forward to joining Burgos for a cooking lesson with the Thai Charge d’affaires and interviews with the ambassadors of Colombia and Morocco.

Previous episodes of Food Diplomacy are also available online on the Facebook page of Early Edition (facebook.com/ANCearlyedition).

Catch a new episode of Food Diplomacy every Friday at 6:45 a.m. during Early Edition, with replays every Saturday at 4:30 a.m. and 8:30 p.m., and every Sunday at 9:30 am, on ANC and ANC HD or online via www.iwantv.com.ph or www.skyondemand.com.ph.

Seasoned actor Gabby Concepcion has recently renewed his contract with GMA.

Colombia ambassador Victor Hugo Echeverri, shows Annalisa Burgos a showcase of Colombia’s cuisine with chef Alejandro Cuellar.

GABBY CONCEPCION

signs anew with GMA 7

S

EASONED actor Gabby Concepcion remains a loyal Kapuso as he renewed his exclusive contract with GMA Network, Inc. on Monday, Aug. 6.

Innovation Prizes up for grabs in 2nd ‘imake.wemake’ plum

By Seymour Barros Sanchez AFTER a successful opening salvo in 2017, the Department of Science and Technology—Science Education Institute’s (DOST-SEI) imake.wemake: create. innovate. collaborate. project is again on the lookout for science and technology projects that cater to important societal and community issues.

Now on its second year, the competition challenges young Filipinos to use their creativity, discover their potentials, and learn the process of using innovation to help their community of interest.

Senior high school students will get the opportunity to pitch, build, and present their projects based on accessible technological platforms. For this year, DOST-SEI is partnering with lead innovation company, ACER Philippines, and will introduce its innovative platform called ACER Cloudprofessor.

In the signing of a Memorandum of Agreement between the two parties held last July 20 at the World Trade Center, SEI Director Dr. Josette Biyo thanked ACER Philippines for its support in promoting innovation among the youth.

The competition comes in three stages: 1) Call for Proposals and Selection; 2) Technical Training/ Workshop and Project Pitching; and 3) Final Project Presentation and Judging.

To join, a team composed of three Grade 11 and/ or Grade 12 students and one teacher per school may submit a project proposal addressing any of the following areas: food safety, security, traffic/

road congestion, health, education, disaster mitigation, entrepreneurship, agriculture, and environment. This should be accompanied by a 2 to 3 minute video supporting the concept. Entry form and contest mechanics are available at https://goo.gl/ YhF22L. School teams passing the selection process will be invited to attend free technical training/workshop on basic electronics, programming, troubleshooting, presentation skills, and ACER Cloudprofessor and sensor application – the programming tool that will be used in all imake.wemake projects. They will also get free ACER Cloudprofessor Starter Kit, Sensor Expansion Pack, and toolbox containing basic tools and components.

Teams will be given a build and testing period of three months prior to the final project presentation and judging. The projects will be evaluated by this year’s judges: Dr. Nestor Michael Tiglao and Engr.

Percival Magpantay of UP Electrical and Electronics Engineering Institute (EEEI); Engr. Carlos Matti Oppus of Ateneo de Manila University; and Alexis de Guzman of Acer Philippines, Inc., based on relevance and potential impact to the community of interest, novelty, viability, and community engagement.

Three school teams will win P50,000 cash prize and The Youth Innovation Prize each.

Deadline for submission of proposals is on Aug. 10. For details, visit www.facebook.com/imake. wemake or email imake.wemake@gmail.com.

DOST-SEI and Acer executives during the signing of a MoA between the institutions.

Present during the contract signing were GMA Chairman and Chief Executive Officer Atty. Felipe L. Gozon, GMA Senior Vice President for Entertainment Group Lilybeth G. Rasonable, GMA Vice President for Drama Productions Redgie Acuña-Magno, GMA Vice President for Business Development Department III Darling de Jesus Bodegon, GMA Vice President for Corporate Affairs and Communications Angela Javier Cruz, GMA Senior Assistant Vice President for Alternative Productions Gigi Santiago-Lara, GMA Assistant Vice President for Drama Productions Cheryl Ching Sy, and Popoy Caritativo, Gabby’s manager.

The senior actor expressed his gratitude to be part of GMA and shared that he is happy with how the network helped him with his career.

“I guess it’s sweeter the second time around. I’m really happy, definitely tumitibok ang aking puso dito sa Kapuso, dati ang puso ko hindi masyadong malaki, ngayon malaking malaki na dahil sa GMA. They accepted me again for this contract,” said Gabby.

During the contract signing held at the Boardroom of GMA Network, Atty. Gozon expressed his genuine support for Gabby and he is elated that the premier actor chose to affirm his loyalty with GMA. “Everybody knows that Gabby is one of the best actors we have in the business. Every show that he does for GMA performs well in the ratings game. We’re just glad that he agreed to renew his contract. We are hoping to give him more projects,” said Atty. Gozon.

Rasonable, on the other hand, revealed that the network is already gearing up for Gabby’s next big projects in the Kapuso station.

“He will have another soap. This time it’s going to be on primetime but we will let you know more about it kapag umupo na kami with Gabby. Expect something new, perhaps a new tandem that the audience will love,” shared Rasonable.

Motoring

FRIDAY, AUGUST 10, 2018

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HARI hosts World Skills Olympics T

he very first World Skill Olympics for commercial vehicle distributors in the Asia and Pacific region was hosted by Hyundai Asia Resources, Inc last July 19. Held at the Hyundai ONE STEP AHEAD. Top Hyundai Service teams from the Hyundai Asia Pacific distributorship community competed in the Logistics Center (HLC) in Calamba, Laguna, 12 of the very first World Skill Olympics (Asia and Pacific) for Commercial Vehicle Distributors. Held July 19, 2018 at the Hyundai Logistics Center in Laguna, 12 of the best service technicians from the Philippines, Vietnam, and Myanmar vied to represent the Region at the First Region’s top service technicians from the Philippines, Calamba, Technical Truck and Bus World Skills Olympics that will be launched in Korea this October.

Vietnam, and Myanmar competed for the privilege to the abilities of the best Service al Manager of HMC Commercial Vehicle Vehicle Service Conference in April this represent Asia Pacific at the First Technical Truck and case technicians for passenger cars. The com- Technical Division, After Sales service is year]. HARI has a well-organized team, Bus World Skills Olympics in Korea in October. petition also aims to encourage Service the most important factor to sustain and excellent facilities, and the experience to The competition consisted of two parts: a written exam on technical concepts, and a set of practical challenges.

Gary Junio and Mark Eric Rellosa of the Philippines took First Place; Thiha Saw and Aye Chan Aung of Myanmar,

Second Place; and Vũ Đình Công and Lê Hồng Ninh of Vietnam, Third Place.

Styled after the Olympic Games, Hyundai Motor Company (HMC) has been holding the competition every two years since 1995 to celebrate and show-

personnel across the globe to update and upgrade their knowledge and skills, and to discover new ways to enhance the After Sales customer experience.

It is in this spirit that HMC will launch First Technical Truck and Bus World Skills Olympics in Korea in October.

According to Park Sung Hwan, Gener-

expand the Truck and Bus business and enhance the Hyundai brand image.

Mr. Park added that the Philippines was HMC’s choice to host the first-ever service skills Olympics for commercial vehicles because “HARI has shown the highest level of cooperation [as host to the 2018 Hyundai Global Commercial

stage such an event.”

HARI President and CEO Ma. Fe Perez-Agudo cheered the regional contenders and encouraged them to demonstrate Hyundai’s awarding winning Service through “Excellence, perseverance and teamwork” as proud representatives of Asia Pacific at the global competition.

Lexus hits the ground running

Onlookers appreciate one of the model e-jeepneys featured in the PhilAPEX expo.

2ND PHILAPEX

Parts makers show wares

By Jimbo Gulle THE Philippine Part Makers Association with the support of the Department of Trade and Industry and the Board of Investments unwrapped the 2nd Philippine Auto & Parts Expo (PhilAPEX) at the SMX Convention Center on Thursday (August 9).

This year’s expo will feature the locally-developed PUV models that will vie for the slots under the proposed eco-PUV (Public Utility Vehicle) Manufacturing Program as well as other locally manufactured vehicles (LMVs).

The PhilAPEX was conceived to highlight and create public awareness on the progress and achievements of the country’s Comprehensive Automotive Resurgence Strategy (CARS) Program.

In particular, it is being held to showcase local auto parts manufacturing capabilities, present the gains from the two CARS Program participating car makers’ implementation of their respective investment plans, and provide the opportunity for B2B networking among part makers and vehicle manufacturers.

Under the same theme, “Gawang Pilipino para sa Pilipino,” as its inaugural event, the 2ndPhilAPEX will present the two enrolled models produced under the CARS Program, the Mitsubishi Mirage/G4 and the Toyota Vios Full Model Change.

This year “has been a very auspicious year for the CARS Program. We can now report and show to the public the production of these 2 models only three years after the promulgation of EO [Executive Order] 182,” BOI Vice-Chairman and

Managing Head Ceferino Rodolfo said.

The running total investments of more than P10 billion have brought the two PCMs, Toyota and Mitsubishi, closer to CARS’ localization target of 50 percent of BOM, said Rodolfo, also an undersecretary of the DTI. The inclusion of local PUVs and LMVs “highlights the importance of local vehicle manufacturing and the government’s thrust to support it,” Rodolfo said.

“It comes at a time when the DTI-BOI undertakes the review of the Motor Vehicle Development Program to make it more relevant and its incentives package more appropriate in the light of major developments in the industry,” he added.

DTI-BOI is also in the final stages of developing the eco-PUV Program, the proposed fiscal support package for the manufacture of the replacement PUVs to be deployed under the DOTr’s PUV Modernization Program.

Local parts manufacturers welcomed these recent developments.

“This Program is what local auto part makers and vehicle body builders have been waiting for,” PPMA President Ferdinand Raquelsantos said.

“It provides local manufacturing activities that boost our industry. It is something we can look forward to that will fill up our plant utilization and sustain our labor force, if not even increase job generation,” he added, This year’s expo is held at the much bigger SMX venue in order to provide wider access to the general public. Gates will be open to public on August 10 (Friday) from 10 am to 5 pm.

Speaking at the PhilAPEX presscon were (from left) Titus Ragario of DOTr, Marissa Concepcion of CARS PMO - DTI/BOI; DTI Undersecretary and BOI Managing Head Ceferino S. Rodolfo; Engr. Ferdinand I. Raquelsantos, Philippine Auto Parts Manufacturing Association President; and Vicente T. Mills Jr., Automotive Body Manufacturers Association of the Philippines President.

IT HAS been an exciting first half of the year for Lexus Manila. Under the remarkable leadership of president Raymond T. Rodriguez and EVP Yuichiro Suzuki, the company has grown exponentially since its inception in 2009. Known for its excellent lineup of luxury cars and for extending a certain level of attentiveness to every customer, borne out of a concept known as “omotenashi,” Lexus has shown that the Japanese style of hospitality it embraced has given the brand a loyal following.

“We at Lexus have a guiding principle: We treat each customer as we would a guest in our own home,” Rodriguez said. “One of our strengths is our after sales service. We have a wide range of genuine spares and accessories always ready, except for special cases when we would have to fly in the parts. We also have certified technicians who we constantly train. At Lexus, we take pride in our reliability. In fact, we topped J.D. Power’s auto industry reliability survey, which is the 2018 U.S. Vehicle Dependability Study. We are very humbled and at the same time inspired to keep improving at what we do.”

Lexus Manila president Raymond T. Rodriguez says they put a premium on customer satisfaction and convenience, which manifests in the showroom’s service center.

Lexus Manila EVP Yuichiro Suzuki with the 2018 LC 500, a grand tourer, personal luxury car that is a favorite among buyers and customers

Kia hands out mid-year awards to dealers COLUMBIAN Autocar Corporation, the distributor of Kia vehicles in the Philippines, held its 2018 Mid-Year After-sales Awards at Okada Manila last July 27.

CAC After-sales Director Apollo R. Rosal summed up the events of the evening. “This is a rare opportunity to bring together select dealers from our network to honor their achievements and to celebrate the hard work they put in day-in, day-out of bringing the Kia brand closer to the public. The dealers, from the principals to the service teams in the showroom and the service crews in the garage, all work very hard and we at corporate are always enthusiastic whenever we are able to reward the efforts by our teams that are on the ground.”

Kia Dumaguete was hailed as the Dealer Customer Satisfaction Index (DCSI) Achiever for the first half of the year; consistently meeting their targets month after month and Kia

New Manila were announced as Aftersales Compliance Achiever for the same time period, hitting the highest average percentage in overall Kia Standard Compliance for processes, equipment and facilities. Awards for Parts Opera-

tions Achiever were also handed out to Kia dealerships from Cagayan De Oro, Davao, Dumaguete, Manila Bay and Pampanga. The Excellence in 2018 Service Clinic went to Kia Davao, New Manila and Pampanga.

CAC president Ginia Domingo (right) handed out mid-year after sales compliance award to Kia dealers during the awarding ceremonies at Okada Manila last July 27.

Motoring

RAMON L. TOMELDAN Editor

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FRIDAY, AUGUST 10, 2018

Mustang Bullitt, named after the movie starring the legendary actor and racing enthusiast Steve McQueen, was recently showcased at the North American Internationa Auto Show.

ICON OF COOL

10millionth Mustang rolls

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HE FORD Mustang—an iconic American brand and a symbol of cool—reached a major milestone Wednesday as the 10 millionth vehicle rolls off an assembly line at a Detroit-area plant.

The car celebrated in American song and film, and recognized the world over as an iconic American cultural export, will get a big party at Ford’s Michigan headquarters.

It’s a turning point for the carmaker, which is banking on the Mustang’s wide appeal to help it grow global market share.

US sales of the Mustang are dropping, but they are accelerating overseas in markets such as China and Germany.

To celebrate the Mustang milestone, Ford is appealing to the sense of nostalgia for what is seen as the original “freedom vehicle” that exemplified Americans’ love of the open road. After all, the car was named after a horse that roams free in the American West.

“I can think of no other American car that captures the love affair with the automobile that Americans have had... like the Mustang,” automotive historian John Heitmann of the University of Dayton told AFP. “It is as American as one can have an American product.”

‘A freedom vehicle’ The Mustang once germinated an entire subgenre of cars.

From a technical standpoint, the origi-

nal 1965 Mustang was not meant as a muscle car intended to attract those who gravitate to fast wheels.

It was in fact one of the original socalled “pony cars” -- a smaller, affordable, practical sibling of flashy sports cars intended to appeal to young professionals, including women.

But the Mustang became an icon almost from the start, in no small part thanks to marketing that would rival a modern-day iPhone launch.

It debuted in the spring, at the 1964 New York World’s Fair, far before other companies announced their latest offerings in the fall. It was hyped up in advance and automotive industry journalists were on hand.

Automotive historian Bob Merlis, at the time a teenager, witnessed the World’s Fair launch.

“It was almost like pandemonium. People were so excited about this car,” Merlis said.

“It was sort of a counterpoint to the very square, staid station wagon ethos that Americans grew up with in suburbia,” he recalled.

“It represented some kind of a freedom vehicle. It embodied that.”

Wilson Pickett immortalized the car in “Mustang and Sally,” a rhythm and blues classic of 1966.

Two years later, the American film star Steve McQueen drove a Mustang in the thriller “Bullitt” -- cementing the car’s cool factor.

It even captured the public imagination overseas, appearing in the 1966 Oscar-winning French film “A Man and a Woman” by Claude Lelouch.

Global draw Ford has been playing up that nostalgic past. At this year’s Detroit auto show, the company unveiled a new limited-edition Bullitt Mustang, along with McQueen’s restored original.

For its celebration, Ford intends to highlight Mustang owners’ loyalty to the brand by featuring the first Mustang ever purchased—still owned by the original purchaser.

Mustang owners also have been known to form clubs and restore older models.

“Our intent is to have all 54 years represented,” Ford spokesman Jihan Cadiz told AFP. “For us, obviously it’s a big day.”

The Mustangs will parade from the company’s headquarters in Dearborn, a Detroit suburb, to the Flat Rock plant where Mustang are assembled.

The celebration is part of a strategic decision by the American auto giant to focus heavily on the sporty icon.

Mustangs soon will be one of only two passenger cars from Ford -- along with a crossover Focus -- sold in North America. All other Ford offerings will be trucks and SUVs. Ford sold only about 81,000 Mustangs in 2017, a mere 0.5 percent of the North American car market, according to Autodata. But Mustang sales are growing overseas.

Auto industry analyst Karl Brauer of Kelly Blue Book said Ford is banking on Mustang’s pull as an American cultural symbol—even selling the vehicle well in places such as Germany, where there is a proud tradition of highly-engineered muscle cars.

“It sells extremely well globally,” Brauer said. “So clearly, there’s really a fan following.”

Since Ford began exporting Mustangs in 2015, it has become the world’s bestselling sports car.

The company also says the car is the best-selling coupe in China, which by 2025 is projected to have twice the share of the global car market compared to the US. AFP

F3 Asia sets winter series SHANGHAI—Hot on the heels of its triumphant debut last month, F3 Asian Championship Certified by FIA organizer Top Speed has announced a Winter Series for January and February 2019. The three, triple-header rounds will begin on January 13 at Thailand’s Buriram International Circuit where the championship will make its debut, followed by a further two rounds at a second Asian FIA Grade 1 track, Malaysia’s Sepang International Circuit, on January 20 and February 24.

Commented Top Speed General Manager Davide De Gobbi: “Given the enormous excitement generated by the F3 Asian Championship Certified by FIA, adding a Winter Series makes perfect sense for many reasons.

Primarily it will give both our existing and new drivers the opportunity to prepare ahead of the 2019 season. In addition, it will provide drivers from anywhere in the world the opportunity to experience the brilliant new-era of single-chassis, single-engine regional Formula 3.”

The F3 Asian Championship Certified by FIA Winter Series will be part of the Asian Le Mans Series weekends on January 13 in Thailand and February 24 in Malaysia, while on January 20 it will be part of the GT Masters Asia in Malaysia.

Thailand’s 4.5km Hermann Tilkedesigned Buriram International Circuit was completed in 2014 and has since hosted numerous regional race meetings. In October this year it will host a round of the FIM MotoGP Championship. The 5.5km Sepang International Circuit, meanwhile, was host to the Malaysian F1 Grand Prix up until last year and remains one of the most popular motorsport facilities in Asia.

The opening rounds of the all-new F3 Asian Championship Certified by FIA got underway in Malaysia last month, with ultra-experienced single seater driver Jake Hughes taking all three wins for Dragon HitechGP. Team mate and fellow countryman Raoul Hyman joined Hughes on the podium after all three races, while impressive 16-year-old Charles Leong of Macau took a second and third place.

Among a truly international grid, which includes drivers from the USA, Kenya and India as well as across the Asian region and the UK, 21-year-old Malaysian Akash Nandy finished runner up to Hughes in Race 3 for Asianbased team Absolute Racing.

For Round 2, the series travels to China and the 4km Ningbo International Speedway, where Races 4-6 will be held from August 31 to September 2.

The hills of Sepang reverberated with the sound of engines roaring during the F3 Asian championship’s Malaysian leg.