Manila Standard - 2019 April 27 - Saturday by Manila Standard

ARBITRATION COURT DROPS PH $1.1-B MALAMPAYA TAX CASE VS. SHELL Angat Dam near critical level

Story on B1

By Rio N. Araja THE water level in Angat Dam in Bulacan, which supplies 97 percent of Metro Manila’s potable water, is nearing the critical level, officials said Friday. The National Water Resources Board said the dam’s water level had dropped

Quakes?

to 180.73 meters as of 6 a.m. Friday, and board director Sevillo David Jr. said the elevation could go down to as low as 173 meters next month. In other developments: • Environmental advocates on Friday called for the mass resignation of Next page

VOL. XXXIII • NO. 72 • 3 SECTIONS 16 PAGES • P18 • SATURDAY, APRIL 27, 2019 • www.manilastandard.net • mst.daydesk@gmail.com

No worry —Phivolcs Phivolcs

9 3

EARTHQUAKE LOCATIONS OVER LAST 8 DAYS (Magnitude 4.0 or higher)

Magnitude

Location

April 26 (Friday) 4.4 007 km S 13° W of San Nicolas (Ilocos Norte) - 9 4.0 007 km N 60° E of Albuera (Leyte) - 8 5.5 070 km S 90° E of General Luna (Surigao del Norte) (8 times) - 5 April 25 (Thursday) 4.3 067 km S 87° E of General Luna (Surigao del Norte) - 5 4.2 007 km N 62° W of Baganga (Davao Oriental) - 7 4.2 391 km S 48° E of Sarangani (Davao Occidental) - 1 4

April 24 (Wednesday) 4.0 068 km S 81° E of General Luna (Surigao del Norte) - 5 4.7 049 km N 38° E of Baganga (Davao Oriental) - 7 4.5 374 km S 45° E of Sarangani (Davao Occidental) - 1 4.5 020 km S 48° W of Castillejos (Zambales) - 4 April 23 (Tuesday) 6.5 022 km N 47° W of San Julian (Eastern Samar) (2 times) - 6

‘World not ending’ as active faults move for series of jolts

4.2 6.1

April 22 (Monday) 075 km S 88° E of General Luna (Surigao del Norte) - 5 018 km N 58° E of Castillejos (Zambales) - 4 April 21 (Sunday) 4.3 100 km S 04° W of Sarangani (Davao Occidental) - 1 4.0 068 km N 44° W of Calayan (Cagayan) - 3 4.0 042 km N 39° W of Sipalay (Negros Occidental) - 2

By Rio N. Araja

LOBAL warming and not the extreme heat due to El Niño phenomenon could trigger the occurrence of earthquakes, the Philippine Institute of Volcanology and Seismology said Friday. Next page

April 19 (Friday) 5.3 168 km S 81° E of Sarangani (Davao Occidental) - 1

New device makes ‘dirty water’ potable

Manila, Beijing okay bilateral talks on WPS

2 5

GENEVA—An invention that instantly makes water from sources such as rivers and deep wells potable and a tech startup that matches Filipino women jobseekers with global Next page

By Nat Mariano

No brownouts on election day, energy officials Warm beer? Why not to cut on sale NOT so fast—a local Mexican lawmaker proposed a measure Thursday (Friday in Manila) limiting the sale of cold beer to curb alcohol consumption, unbottling a wave of mainly mocking reactions online. Next page

THERE will be no power interruptions on Election Day, but there is no assurance of sufficient supply after May 13, Energy officials told lawmakers Friday amid reports of low electricity supply in the country. Next page

Pinoys among most stressed FILIPINOS are among the most stressed people in the world according to a global survey. The same survey said the Philippines, along with three other countries, also topped the list of most emotional nations last year.

FOR President Rodrigo Duterte, China remains the Philippines’ ally in Southeast Asia, the Palace said late Thursday. Presidential Spokesman Salvador Panelo said the President made the remark during a meeting with Chinese President Xi Jinping, where Duterte raised Manila’s concerns over Beijing’s activities in the West Philippine Sea―as both leaders agreed that the issue on the contested Next page

FOR POSTERITY.

Visiting President Rodrigo Duterte and People’s Republic of China State Council Premier Li Keqiang seal their countries’ friendship before the start of their bilateral meeting at the Diaoyutai State Guest House in Beijing on Thursday. Malacañang Photo

Xi promises Duterte $148-m grant to PH By Nat Mariano and Othel V. Campos CHINESE President Xi Jinping has assured visiting President Rodrigo Duterte that Beijing would give a grant of one billion yuan ($148 million) to the Philippines to further develop the country’s economy, Malacañang bared on Thursday. Presidential Spokesman Salvador Panelo said the East Asian giant made the commitment during a bilateral meeting between the two leaders in Beijing. Next page

U.P. PROMENADE. Upsilon Sigma Phi Alumni Association President Martin Romualdez (ninth right) stands with USPAA board members and former USPAA chairman Noy Dy-Liaco (fourth left) during the inspection of the Upsilon Sigma Phi Promenade to be used by resident Upsilonians, students, faculty and staff for the outdoor learning facility and venue for free expression, with free Wi-Fi. Ver Noveno

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SATURDAY, APRIL 27, 2019

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House backs importation of molasses MEMBERS of the House of Representatives, led by Speaker Gloria Macapagal Arroyo, on Friday moved to strengthen the bio-ethanol industry in the Philippines after they expressed support to the proposal to import molasses to make them more viable. Arroyo called for a joint oversight hearing with the Special Committee on Visayas Development and the Committee on Energy, presided by Reps. Melecio Yap Jr. of Negros Occidental and Carlos Roman Uybarreta of 1-CARE party-list, after visiting the San Carlos Bioenergy Inc. in Negros Occidental wherein SCBI raised their concerns on the situation of the industry. “[We] would like to help you and make the appropriate policy that will make a pioneering industry continue to exist. We’re very proud that we are the very first in Southeast Asia to adopt the bioethanol industry…In fact, one of the reasons why I visited you was that I was very happy to find out that you’re still around and you have expanded,” said Arroyo, president of the country from 2001 to 2010. The panel zeroed in on the proposal of the bio-ethanol producers to allow the importation of molasses to be converted to bio-ethanol and other products for export to enable them to be financially viable. It was through the efforts of then President Arroyo that made the Philippines the pioneer of the biofuel industry in the entire Southeast Asia to address the high world prices of oil during her time.

Maricel V. Cruz

No sugar fund refunds—SC By Rey E. Requejo THE Supreme Court has declared that since no sugar restitution fund has been set up and allocated under the law, the Bangko Sentral ng Pilipinas cannot compensate sugar producers for losses incurred during crop years 1974-1975 and 1984-1985. In a decision promulgated last February but made public only on Friday, the high court through Associate Justice Marvic Mario Victor F. Leonen upheld the dismissal by the Bacolod City Regional Trial Court of the complaint for sum of money filed by spouses Juanito and Victoria Ledesma against the BSP and the Philippine National Bank. The sugar restitution fund is provided for under Republic Act No. 7202, which was enacted in 1992 “to restitute the losses suffered by the sugar producers due to actions taken by government agencies in order to revive the economy in the sugarproducing areas of the country.” Citing records, the SC said the Ledesmas obtained several crop loans from PNB and after full payment of their loans, as admitted by PNB and as certified by the Commission on Audit, there was an excess payment of P353,529.67.

New device...

Yedda renews appeal for DDR bill OK By Maricel V. Cruz

INGOG ﬁrst nominee Yedda Marie Kittilstvedt Romualdez on Friday renewed her appeal to the Senate to give priority to the passage of the proposed Department of Disaster Resilience when sessions resume on May 20. Romualdez, a congresswoman of the First District of Leyte and chairman of the House committee on accounts, made he appeal following the series of earthquakes that rocked the country. She hoped Congress would be able to pass the measure before the 17th Congress

close in June. “The earthquakes and aftershocks we have been experiencing recently should prompt us to work for the approval of the Department of Disaster Resilience,” Romualdez said. “I believe we still have time to work on

Quakes?...

to10 kilometers southwest of San Nicolas town. Intensity 4 was felt in San Nicolas while Intensity 3 was felt in Sarrat. The tremor was also felt in Sinait and Vigan City in Ilocos Sur and Pasuquin and Laoag City in Ilocos Norte. Since Tuesday, earthquakes have been recorded in different parts of Eastern Visayas, such as in San Julian town; Hinabangan, Samar; Hinundayan, Southern Leyte; Guiuan, Eastern Samar; and Albuera, Leyte.

From A1

The origin of a quake is just too deep to be affected by extreme weather conditions, said Mylene Enriquez, PHIVOLCS seismologist. “Quakes are just normal. On the average, there are about 20 tremors a day. It just so happened that the active faults were the ones that recently moved, triggering tremors of bigger magnitudes,” she told the Manila Standard. Enriquez dispelled speculation that “the end of the world is already approaching.” “Of course not,” she said. “People just don’t notice that quakes do happen every day.” She also said the increase in the frequency of earthquakes does not necessarily mean a bigger one is going to happen. A magnitude-5.3 earthquake rocked Surigao del Norte Friday at 1:26 p.m., with its epicenter located 71 kilometers southeast of General Luna. Intensity 2 was felt in Gingoog City, and Intensity 1 in Surigao City. PHIVOLCS recorded 54 aftershocks, Enriquez said. A magnitude-4 earthquake shook Leyte province on Friday morning, PHIVOLCS said. There was no expected damage and aftershocks from the temblor that struck 7 kilometers. northeast of Albuera, Leyte at 10:44 a.m. The earthquake was felt at Intensity 3 in Ormoc City and nearby towns. There was no immediate report of damage or injuries due to the quake, PHIVOLCS said. The fault line that moved is within the Leyte Island fault line, which is part of the 1,200-km.-long Philippine fault zone, a major tectonic feature that transects the whole Philippine archipelago from northwestern Luzon to southeastern Mindanao. The ground shaking occurred three days after the magnitude-6.5 earthquake in San Julian, Eastern Samar that rocked Eastern Visayas province Tuesday afternoon. The tectonic quake, with a depth of 17 km., struck 19 km. northwest of the coastal town of San Julian, located 163 km. northeast of Tacloban. The fault line in San Julian town moved 22 times with reported intensities from Tuesday afternoon to Friday morning. The strongest aftershock was just an hour after the strong quake at magnitude 4.6. The latest was recorded at 9:48 a.m. at magnitude 2.4. At 3 a.m. Friday, a magnitude 4.4 earthquake jolted Ilocos Norte, PHIVOLCS said. The tremor’s epicenter, was traced

The presence of the active Philippine Fault Zone and lineaments has made 29 towns and cities in Eastern Visayas prone to earthquakes, PHIVOLCS said. Magnitude measures the energy released from the source of the quake while intensity measures the strength of shaking produced by the earthquake at a certain location. The death toll from Monday’s 6.1 magnitude that struck Castillejos, Zambales, has risen to 18, nine of them from the collapsed Chuzon Supermarket in Porac, Pampanga. Some 282 people were injured while seven remain missing. The number of affected families were placed at 3,205, which is equivalent to 14,901 individuals residing in 13 cities and municipalities in Region III. Of these, 909 families or 3,381 persons are being aided inside six evacuation centers while 951 families, which is equivalent to 4,756 individuals are being helped outside. Also, the number of damaged houses was placed at 1,230, with 156 totally wrecked and 1,074 partially, in Bataan and Pampanga. The number of damaged structures and buildings in Region I, III, the National Capital Region and Calabarzon was placed at 334. The number of persons injured in the magnitude-6.5 earthquake that rocked San Julian, Eastern Samar on Tuesday has climbed to 40, the National Disaster Risk Reduction and Management Council said in its 6 a.m. update Friday. About 93 families or 372 persons living in 18 barangays in Samar and Eastern Samar were affected by the earthquake. The NDRRMC also reported that 92 houses were damaged, four destroyed and 88 damaged, in Samar and Eastern Samar provinces. Police, meanwhile, said they were gathering evidence to file a case against those responsible for the collapse of the Chuzon Supermarket where at least nine people died following Monday’s strong earthquake.Charges would include negligence resulting in multiple homicide and physical injuries, police said. With PNA

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entrepreneurs have received international recognition in separate events in Geneva. Permanent Representative to the United Nations in Geneva Ambassador Evan Garcia hailed the awards, stressing that Filipino ingenuity had continued to provide solutions to both global and local challenges. “The Philippine Government continues to encourage, support, and partner with creative minds and socially aware risk-takers to help ensure that today’s fastchanging technology is able to present concrete and accessible solutions to old and new challenges, solutions that positively affect the everyday lives of Filipinos,” he said. For creating a potable water treatment device that can be used to provide safe drinking water to communities, especially when access to potable water becomes difficult such as during disaster situations, Filipino inventor Rodrigo Duque was awarded the Bronze prize on April 12 by the organizers of the 47th International Exhibition of Inventions, which was held in Geneva on April 10 to 14, 2019.

Manila... waterway can be managed through bilateral talks. “Both agree that the situation can be managed by the mechanism of bilateral negotiations but it should not affect the cooperation being undertaken by both the Philippines and China and they look forward to a productive discussion on matters of mutual concern and interests,” Panelo said. Duterte is in China until Saturday for the Belt and Road Initiative forum. “The Chief Executive culminated the talk with the Chinese President articulating his position that the Philippines remains China’s ally in Southeast Asia,” Panelo continued, adding that Xi even emphasized that both countries, as allies, “strengthen― and do not destroy―each other.” Senators on Friday lauded Duterte’s move to raise China’s incursion in Philippine-held Pag-asa Island before Xi. Senate President Vicente Sotto and Senator Panfilo Lacson, in separate text messages to GMA News, described the

President’s gesture as a “very diplomatic but meaningful move” and “could not have conveyed his message better.” “It was firm, clear, and unequivocal but in a diplomatic tone. I hope the Chinese leader sees it that way and henceforth reciprocate the good will by respecting the status quo while discussions on the joint exploration of oil is under way,” Lacson told GMA. Senator Grace Poe, in a statement, agreed that it is time that the Philippines assert its sovereignty and protect its territory. She added that any discussion or agreements on joint development “should proceed from the assumption that the West Philippine Sea is the territory of the Philippines, and that allies should respect each other’s sovereignty.” “To remove any doubts that such agreements are not detrimental to the interest of Filipinos, they should be made transparent,” Poe said. According to Panelo, Xi also stressed the importance of having “good neighborliness and proper handling of differences between the countries” amid the tensions over the disputed waters.

Angat Dam...

compelled Manila Water Co. Inc. to develop a new water supply source. • Public utility firms should be held accountable for their failure to render services they are expected to provide, according to broadcast journalist and independent senatorial candidate Jiggy Manicad. She said the rolling blackouts now being experienced in the areas serviced by Manila Electric Co. were a “sign of negligence”. She said Manila Water should also be held accountable for several water service interruptions in parts of Metro Manila last month. “There is a need for the government to

closely monitor Meralco and other public utilities,” Manicad said. “As we have seen in the previous weeks, the problems in these firms are piling up instead of winding down.” • Some Manila Water customers complain of high water bills despite the water service interruptions. Some customers have complained about receiving high water bills, according to Bam Alegre’s report on Unang Balita on Friday. From the previous P120, Lei Tatco said, their bill last month rose to P250―an increase of more than 100 percent.

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the officials of the Metropolitan Waterworks and Sewerage System for alleged negligence. Danilo Mangahas of Earth Savers Philippines blamed MWSS Administrator Reynaldo Velasco and the other officials for their alleged failure to address the water crisis in the East Zone of Metro Manila and the nearby provinces. “They should all resign,” Mangahas said. He said the government should have

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the approval of the proposed Department of Disaster Resilience,” said Romualdez, one of the principal sponsors of the DDR measure that the House of Representatives approved on third and final reading last year. “I am appealing again to our good senators to consider fast-tracking the passage of the DDR bill as this would help drastically reduce, if not totally eliminate, the bureaucratic red tape that has caused many delays in the delivery of immediate assistance needed by disaster and calamity victims.” Romualdez praised Speaker Gloria Macapagal Arroyo for immediately attending to the concerns of the earthquake victims in the badly hit areas of Pampanga and ensuring that everything would return

to normal as soon as possible following the 6.1-magnitude earthquake that struck parts of Luzon on Monday afternoon. Last Tuesday, a magnitude-6.5 quake rocked San Julian, Eastern Samar, and was also felt in several towns in Eastern Visayas. The DDR would guaranty a unity of command, a science-based approach and a full-time focus on natural hazards and disasters. The DDR would also provide leadership in the continuous development of strategic and systematic approaches to disaster prevention, mitigation, preparedness, response, recovery and rehabilitation, and anticipatory adaptation strategies, measures, techniques and options.

Cyprus serial killer slays 3 Filipinas NICOSIA, Cyprus―Cypriot authorities on Thursday uncovered another body in a widening probe into the murders of foreign women and girls after a suspected serial killer confessed to seven killings, police sources said. A 35-year-old Greek Cypriot army officer appeared for a remand hearing in court in connection with the murder of a third Filipina woman who was reported missing last year. Local media have dubbed the case the island’s “first serial killings” after two bodies, both believed to be Filipinas, were recovered from an abandoned mineshaft since April 14. Cypriot police are also searching for the body of a missing six-year-old Filipina girl,

daughter of one of the murdered women. Police sources, quoted by the state-run CNA news agency, said authorities were also looking into cases involving an Asian woman as well as that of a Romanian mother and her young daughter reported missing in 2016. The suspect, who allegedly confessed to seven killings, earlier Thursday showed investigators the spot where he had dumped a body in a well at an army firing range outside the capital Nicosia. As the case becomes more complex, Cypriot police are requesting the aid of experts from British law enforcement. They include a coroner, a clinical psychiatrist, a forensic specialist and investigators experienced in multiple murder cases. AFP

Xi...

“Among the agreements are energy projects that will help the country decrease its dependence on oil and gas imports. There will also be several industrial parks to bring jobs to Filipinos in the countryside,” Lopez said. According to Panelo, China, with its ambitious infrastructure project “Belt and Road Initiative,” would provide more resources to Luzon and Mindanao to “spur regional economic growth.” He said Xi would also help the country promote the Clark Green City in Pampanga through the building of an industrial park. “According to him [Xi], the BRI will also play an important role in the Asean-China relations, where the Philippines plays an effective role as a country coordinator, and in the Brunei Darussalam-IndonesiaMalaysia-Philippines East Asean Growth Area [BIMP-EAGA] through increased cooperation,” Panelo said. Aside from China’s commitments under the BRI, Xi also noted Beijing’s relations with Manila in terms of trade and employment.

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“President Xi committed to provide one billion yuan grant to the Philippines,” Panelo said in a statement released late Thursday evening. Meanwhile, the Philippines and China signed 19 signed business agreements on Friday amounting to $12.16 billion in investments that may generate at least 21,165 jobs for Filipinos at the sidelines of the 2nd Belt and Road Forum in China. The Philippine business delegation and their Chinese counterparts signed one contract agreement, three cooperation agreements, two purchase framework agreements, and 13 Memoranda of Agreement or Understanding. Trade Secretary Ramon Lopez reported that majority of these projects were on energy, infrastructure, food, telecommunications, sale of agricultural products, tourism and economic zone and industrial park development.

No brownouts...

Pinoys...

Meanwhile, more than 4,700 people have been arrested since the start of the Commission on Elections’ gun ban on Jan. 13, the Philippine National Police said Friday. PNP spokesman Bernard Banac said as of 6 a.m. Friday a total of 4,729 people had been arrested in 576,983 police operations since the gun ban’s implementation. Of that number, 2,634 were intercepted during police patrol responses, 977 through search warrants and 723 during the “Oplan Bakal, Sita, Galugad” operations. Banac said the total included 331 people arrested in checkpoints and 64 others during the serving of warrants of arrest. Tte Commission on Elections said Friday it will use 85,000 Vote Counting Machines for the May 13 elections, which would be fewer than the 92,000 VCMs used in the 2016 elections. Comelec Director Teopisto Elnas Jr., deputy project director of the poll body’s Project Management Office for the May 13 polls, said the number of VCMs for the 2019 midterm elections would be fewer because the number of registered voters in a clustered precinct had been increased from 800 voters to 1,000 per clustered precinct. “We decided to purchase the VCMs for the May 2019 polls, and the number of registered voters also increased. It is impossible that the number of voters per precinct will be the same. It cannot accommodate with the same allocation,” Elnas said. PNA, With Vito Barcelo

Asked about their feelings the previous day, Gallup’s annual Global Emotions report found 58 percent of Filipinos in 2018 to have experienced stress the day before the survey. Last year, the Philippines was the most emotional country in Asia and the fourth in the world with 58 percent average “yes” responses to all questions. Only Greece is more stressed than the Philippines with 59 percent of its population feeling the negative experience. Tanzania (57 percent), Albania, Iran, Sri Lanka, and the United States of America (55 percent) ranked high on the list of world’s most stressed populations. More than one in three people said they experienced a lot of stress (35 percent) in the survey of more than 151,000 adults in over 148 countries in 2018. The study measures life’s intangibles— feelings and emotions—that traditional economic indicators such as GDP were never intended to capture. A day before the poll was conducted, six in 10 Filipinos said they had experienced positive or negative emotions. The Philippines, along with Niger, Ecuador and Liberia, had 60 percent average “yes” responses to all questions. They were followed by Costa Rica, Sierra Leone, Guinea, Peru (59 percent), and Nicaragua, Honduras, Sri Lanka, Guatemala (58 percent). The report also found that more than one in three people said they experienced a lot of worry (39 percent) and at least one in five experienced sadness (24 percent ) or anger (22 percent).

From A1

Warm beer?... From A1

“If the beer isn’t refrigerated, you will be forced to bring it home, put it in the fridge and drink it at home,” explained Maria de Lourdes Paz, a member of Mexican president Andres Manuel Lopez Obrador’s leftleaning Morena party. The bill cited a study on addiction in Mexico that showed Mexico City, where Paz is a member of the local congress, has “the highest rate of youth alcohol consumption.” Most young drinkers buy alcohol while out with friends, going to one of the many

From A1

small shops in the mega-city that sell refrigerated drinks. The bill proposes requiring such businesses to keep beverages with alcohol content higher than 7 percent at “room temperature,” by storing them outside the refrigerator. The prospect of drinking a warm beer, while the Mexican capital suffers a heat wave, sent residents bubbling over with frustration. Some Twitter users proposed requiring tacos to be sold frozen to fight obesity, one of the main public health problems in Mexico. “This decision has me hot under the collar,” joked one Internet user. AFP

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SATURDAY, APRIL 27, 2019 mst.daydesk@gmail.com

Du30 declares 2019 ILO Centenary ahead of May 1 By Nat Mariano

DAR releases land titles under CARP THE Department of Agrarian Reform on Friday ordered the release of titles to farmer-beneficiaries of the Comprehensive Agrarian Reform Program pending amortizations. Secretary John Castriciones issued DAR Administrative Order No. 5 of 2019, saying all original of the owner’s duplicate copies of land titles provided under the land reform program shall be turned over to the farmer-beneficiaries even to those who have pending amortizations. “This within a month of effectivity of DAR’s latest administrative order,” the agency said. The order directed all owner’s duplicate copies of registered certificates of landownership awards and emancipation patents “shall not be pledged or placed in the custody of another entity, pending the full payment of the amortizations of the land.” Instead, these titles “shall be released immediately by the provincial agrarian reform office to the farmer-beneficiaries upon registration and receipt thereof from the Register of Deeds,” the order stated. Before the new order, the original owner’s duplicate copies of the CLOAs and EPs were required to be surrendered to the Land Bank of the Philippines serving as the mortgagee-bank. Rio N. Araja

Enhance building code, Enrile urges PUWERSA ng Masang Pilipino senatorial candidate Juan Ponce Enrile on Tuesday stressed the need to establish a strong building code following the earthquakes that rattled Metro Manila, Central Luzon, and Eastern Visayas this week. Enrile, who had just concluded his Northern Luzon campaign in Nueva Ecija on Tuesday, said the recent tremor is a wake-up call for Filipinos that the country is within the earthquake belt. “I commiserate with the people affected by the last earthquake that happened in Metro Manila and in Central Luzon, especially in Pampanga. I think this is a wake-up call for us to realize that we are within the so-called earthquake belt of this planet and we have to accept that,” Enrile said in an interview. “We must prepare for it, and one of the preparations that we should make right now, not tomorrow, is to establish a strong building code that can meet any kind of earthquake,” Enrile added. The former Senate president noted that the deadly impact of recent tremors should be a warning for future instances of stronger earthquakes especially in Metro Manila.

Comelec ruling on ‘nuisance’ bets lauded A CONGRESSIONAL aspirant has welcomed the decision by the First Division of the Commission on Elections to declare a challenger to his post as a “nuisance candidate” and to cancel the latter’s certiﬁcate of candidacy. Zamboanga del Norte Gov. Roberto Uy was referring to a resolution penned by Comelec Commissioner Al Parreno, the First Division ruled that the candidacy of Uy’s namesake—‚a certain “Roberto Escobido Uy”—“would cause damage and prejudice not only to Governor Uy but to the Filipino electorate.” Uy is running against incumbent Zamboanga del Norte ﬁrst district Rep. Seth Jalosjos. “To put into the mix candidates without serious intention or capabilities to run a campaign would actually impair the electoral process,” the poll body said. “This is not to mention candidacies which are palpably ridiculous so as to constitute a joke,” it added. Maricel V. Cruz

RESIDENT Rodrigo Duterte has declared the year 2019 as the “International Labor Organization Centenary,” documents released by the Palace showed on Friday.

In his Proclamation No. 710, the President recognized the 100th anniversary celebration of the International Labor Organization, a network of countries, in which Philippines remains an active member. According to the President, the Philippine government, through the ILO’s social partners, which includes employers and workers’ organizations, “reaffirm its full support to and cooperation with the ILO’s mandate of promoting international peace and social justice. “I do hereby declare the year 2019 as the ‘International Labor Organization Centenary’,” Duterte stated. The President then tasked the Department of Labor and Employment to “spearhead and coordinate the conduct of programs and activities nationwide relative to the celebration of the ILO Centenary.” “All other agencies and instrumentalities of the government, specifically those involved in ILO projects, are hereby enjoined, and all local government units, as well as the private secotr, are hereby encouraged to provide the necessary support and assistance to the DOLE to ensure the successful observation of the ILO Centenary and the effective implementation of this Proclamation,” he said. “The Presidential Communications Operations Office shall lead the campaign of fostering ILO awareness in the Philippines, and promote programs and activities, in connection with the celebration,” he added. The said proclamation, as ordered by the President, was signed by Executive Secretary Salvador Medialdea on

Wednesday, April 24. The Switzerland-based ILO, a United Nations agency which seeks to advance social justice, promote decent work, and set international labor standards, was established in 1919. Meanwhile, five days before the country celebrates Labor Day, workers’ groups filed a petition to raise the minimum wage in the National Capital Region by P213 or to P750. Currently, the minimum wage in NCR is P537, the highest in the country. The petitioners are Kilos na Manggagawa (KnM), an organization of contractual workers; Metal Workers Alliance of the Philippines and BPO Industry Employees Network. “Each day, Flipino workers find it harder to feed their families and survive due to the nonstop increase in the price of commodities and services. It is high time that the government grant a significant wage increase to help ease workers’ burden,” said Jen Pajel, national president of KnM. IBON research shows that a family of five needs at least P1,004 each day or around P30,000 monthly in order to meet their needs and live decently. The petitioners seek only 75 percent of this amount. Pajel added that a significant wage hike would compensate for the zero real wage growth in the Philippines. She cited a 2018 report by the World Bank which stated that while labor productivity in the Philippines rose by 50 percent from 2001 to 2016, real wage had zero growth.

BoC seizes P60m worth of smuggled sugar, firecrackers at Subic port By Vito Barcelo THE Bureau of Customs seized some P60 million worth of smuggled sugar and firecrackers in Subic, Pampanga. Port of Subic District Collector Maritess Martin said the contraband was discovered after customs agents examined 35 containers which arrived from Hong Kong which was consigned to JRFP International Trading. “The 34 shipments declared as floor mats and plastic floor coverings yielded 21,760 bags of Thailand refined sugar, while the remaining container was found to contain several boxes of firecrackers,” Martin said. Customs Commissioner Rey Leonardo Guerrero immediately ordered the revocation of the customs accreditation of both the importer and the customs broker and to file appropriate charges against them for violation of Section 1401 of the

Customs Modernization and Tariff Act. “We will not allow illicit traders to continue to violate our laws. The Bureau of Customs is consistently working on boosting our anti-smuggling measures through the acquisition of upgraded tools for inspection and examination and close coordination with our partner-agencies such as the Philippine Drugs Enforcement Agency (PDEA), the Philippine Coast Guard and the Armed Forces of the Philippines to beef up our ﬁght against smuggling,” Guerrero said. Meanwhile, the Sugar Regulatory Agency commended the Bureau of Customs-Port of Subic for its immediate action that led to the successful seizure of smuggled sugar. “There are no illegal drugs stored inside the seized containers. K9 snifﬁng dogs inspected the containers and found out to be negative of drugs,” Guerrero added.

Police nab 4 drug syndicate members in Taguig By Joel E. Zurbano AUTHORITIES arrested four suspected members of a big-time drug syndicate operating in the southern part of Metro Manila and seized P1.1 million worth of shabu during a buy-bust operation early Friday morning in Taguig City. The latest operation, according to National Capital Region Police Ofﬁce director Guillermo Eleazar, is part of the continuing crackdown on drug dealing in Metro Manila. Arrested were Joseph Marcelo, 41, of Barangay Valenzuela, Makati City; Ronald Kerwin Bustos, 32, of San Andres Bukid, Manila; Anthony Cruz, 41, of Bagong Calzada Pateros, and Robert Saligan, 40, of Barangay Calzada, Tipas Taguig City. The suspects are now detained and being interrogated at the NCRPO headquarters in Camp Bagong Diwa in Bicutan, Taguig City. Eleazar said the anti-drug operation was conducted by the NCRPO and Taguig City Police in close coordination with the Philippine Drug Enforcement Agency following a month-long surveillance operation against the suspects.

The suspects were arrested along C-6 Road in Barangay Napindan around 12:30 a.m. Police seized a total of 165 grams of shabu with a street value of P1.1 million, two handguns loaded with ammunitions, one hand grenade and two drug weighing scale. Eleazar said the suspects are members of a criminal gang engaged in the illegal drug trade listed in the Southern Police District illegal drug watchlist. He added the suspects have been previously arrested and charged before the criminal courts of cities of Makati and Taguig for the past two years for the same offense, but the cases against them were dismissed. Eleazar commended the police operatives for the arrest of the suspects, considering that the firearms recovered can possibly be used for gun for hire and other criminal activities as the May 13 midterm elections draws near. The suspects and the recovered pieces of evidence were brought to NCRPO Regional Drug Enforcement Unit office and will be subjected for technical examination before the PNP Crime Laboratory Office.

Woman finds shard in salad, to sue Rizal resort via DTI A WOMAN is ﬁling a complaint with the Department of Trade and Industry after she found a shard of glass in a salad she ordered at a hotel-resort in Binangonan, Rizal while on vacation with her family. Complainant Lovely Corpus said she would not have complained to the DTI against the management of Thunderbird Resorts and Casino if the hotel’s manager, chef, and staff were not insincere in apologizing for the blunder. She said she felt belittled by the way the hotel representatives treated her and her complaint, despite already spending around P200,000 for their three-day stay at the resort. Corpus said she ordered a kani salad from Thunderbird, where her family was staying, but found the shard in her meal. She immediately

called the attention of the staff, but was told that the shard seemed to come from plasticware that was not from their kitchen. She said the hotel supervisor and chef, who prepared the salad, came to her, but instead of saying sorry insisted that the broken piece did not come from them. “What hurt more was that the chef didn’t even apologize. Instead he insisted that the shard wasn’t from them, insinuating that I placed it in my salad,” Corpus said. She said the hotel’s general manager, Angeline Gonzales, also talked to her, apologized, acknowledged their shortcomings, and even offered a 30-percent discount on food and beverages— but this was later taken back, Corpus said. “They were not sincere in apologizing, and treated me as if I had caused the

bother,” she said. Before the Corpus family checked out, lawyer Janice Margate, legal counsel of the Thunderbird, tried to make them sign a waiver, but they refused. Thunderbird officials could not be reached for comment at presstime. “I will ask my lawyer if we can also file a court case against the management of Thunderbird Hotel after we file our complaint with the DTI,” Corpus added. “I feel really insulted because [they] bothered me. I was supposed to be having fun with my family and you spoiled my time because of what happened. They were not friendly at all, they were treating me as if I was the problem. That made me really upset, they don’t care about their customers,” she lamented.

Manila

Standard

TODAY

SEC MEMORANDUM CIRCULAR NO. 8 Series of 2019 SUBJECT:

GUIDELINES ON THE ISSUANCE OF SUSTAINABILITY BONDS UNDER THE ASEAN SUSTAINABILITYBONDS STANDARDS IN THE PHILIPPINES

WHEREAS, in recognition of the importance of alternative finance in supporting sustainable development in ASEAN, particularly in meeting ASEAN’s environmental and social needs, the ASEAN Capital Markets Forum developed the ASEAN Sustainability Bond Standards to complement the ASEAN Green Bond Standards and the ASEAN Social Bond Standards; WHEREAS, the ASEAN Sustainability Bond Standards was developed based on the International Capital Markets Association’s (ICMA’s) Sustainability Bond Guidelines and intended to enhance transparency, consistency, and uniformity of ASEAN Sustainability Bonds which will also contribute to the development of a new asset class, reduce due diligence costs, and help investors to make informed investment decisions; WHEREAS, Section 8 of the SRC provides that securities shall not be sold or offered for sale or distribution within the Philippines, without a registration statement duly filed with and approved by the Commission; WHEREAS, Section 12 of the SRC, the relevant provisions of the 2015 Implementing Rules and Regulations of the SRC (2015 SRC IRR) and “Annex C” provides for the procedure for registration of securities and non-financial disclosure requirements; WHEREAS, it is understood that certain Green Projects may also have social co-benefits, and that certain Social Projects may have environmental co-benefits; thus, the classification of a use of proceeds bond as a Green Bond, Social Bond, or Sustainability Bond should be determined by the Issuer based on its primary objectives for the underlying projects; WHERAS, ASEAN Sustainability Bonds arespecific purpose bonds where proceeds will be exclusively applied to finance or refinance a combination of both Green and Social Projects that respectively offer environmental and social benefits; WHEREAS, the requirements under the ASEAN Sustainability Bond Standards shall be in addition to the applicable requirements under Sections 8 and 12 of the SRC; unless there is an available exemption under Sections 9 or 10 of the SRC, where the Issuer shall submit the requirements as prescribed by the Commission; WHEREAS, to assist issuers of debt instruments to register and issue bonds that are compliant with the ASEAN Social Bond Standards, the Commission deems it necessary to issue the subject guidelines; WHEREAS, the subject Guidelines should be read in conjunction with subsequent amendments/updates whichthe Securities and Exchange Commission (SEC or Commission) may issue from time to time. NOW, THEREFORE, pursuant to the foregoing,the Commission hereby adopts and issues the following Guidelines to supplement the requirements under Section 8 and 12 of the SRC. GUIDELINES ON THE ISSUANCE OF SUSTAINABILITYBONDS UNDER THE ASEAN SUSTAINABILITY BOND STANDARDS IN THE PHILIPPINES ARTICLE ONE: GENERAL PROVISIONS CHAPTER ONE: Definitions Section 1. Applicability – This shall be known as the “Guidelines on the Issuance of SustainabilityBonds Under the ASEAN SustainabilityBond Standards in the Philippines.”It shall primarily govern the issuance of the ASEAN SustainabilityBonds where proceeds will be exclusively applied to finance or refinancea combination of both Green and Social Projects that respectively offer environmental and social benefits. Section 2. Definition of Terms – For purposes of these Guidelines, the following definition of terms shall apply, unless the context otherwise requires: A. ACMF refers to the ASEAN Capital Markets Forum. B. ASEAN refers to the Association of Southeast Asian Nations. C. ASEAN GBS refers to the ASEAN Green Bond Standards as applicable and as revised from time to time. D. ASEAN Issuer refers to an Issuer that is incorporated in any of the ASEAN countries. E. ASEAN SBS refers to the ASEAN Social Bond Standards as applicable and as revised from time to time. F. ASEAN SustainabilityBonds refers to bonds andsukukwhich comply with both the ASEAN GBS and theASEAN SBS, where the proceeds will be exclusively applied to finance or refinancea combination of both Green and Social Projects that respectivelyoffer environmental and social benefits.In the case of Islamic bonds or sukuk, it must also comply with the relevant laws and requirements applicable for the issuance of Islamic bonds or sukuk. In such instances, the Islamic bonds or sukuk may be labelled as ASEAN SustainabilitySukuk. G. Issuer refers to a corporation that issues ASEAN Social Bonds and includes both an ASEAN Issuer and a Non-ASEAN Issuer. H. Look-back period refers to a maximum period in the past that an Issuer will look back to identify assets/earlier disbursements to such eligible Social Projects that will be included in the social bond reporting. I.

Non-ASEAN Issuerrefers to an Issuer other than an ASEAN Issuer.

J. SustainabilityBond Guidelines(SBG) refers to thevoluntary process guidelines issued by the InternationalCapital Market Association (ICMA), as revised from time to time, that recommend transparency and disclosure, and promote integrity in the development of the social bond market. CHAPTER TWO: Scope of ASEAN SustainabilityBond Standards Section 3. Coverage of ASEAN SustainabilityBond Standards – The Guidelines on the Issuance of SustainabilityBondsUnder the ASEAN Sustainability Bond Standardsshall apply to the issuance of ASEAN SustainabilityBonds in the Philippines. Section 4. Suppletory Application of ICMA SustainabilityBond Guidelines– The ASEAN SustainabilityBond Standards are aligned with the ICMA SustainabilityBond Guidelines. Any guidance issued by ICMA on the SBGshould also be considered, where relevant. Section 5. Classification of Bonds with Environmental Co-Benefits – In is understood that certain Social Projects may also have environmental co-benefits, and that the classification of a use of proceeds bond as an ASEAN Green Bond, ASEAN Social Bond, or ASEAN Sustainability Bond should be determined by the Issuer based on its primary objectives for the underlying projects. ARTICLE TWO: COMBINED APPLICATION OF ASEAN GBS AND ASEAN SBS Section 6. Requirements for ASEAN SustainabilityBonds– The Issuer of an ASEAN Sustainability Bond must comply with both the ASEAN GBS and the ASEAN SBS. The proceeds allocated for the Project must not be used for Ineligible Projects specified by the ASEAN GBS (i.e. fossil fuel power generation projects) as well as the ASEAN SBS (i.e. projects which involve activities that pose a negative social impact related to alcohol, gambling, tobacco and weaponry). ARTICLE THREE: SUSTAINABILITYBONDS

APPLICABILITY

EXISTING

Section 7. Applicability on Existing Eligible SustainabilityBonds― In certain circumstances, and at the discretion of the Commission, outstanding bonds issued by Philippine-Based issuer and/or in instances where the proceeds were used in the Philippines, will be considered for eligibility under the ASEAN SustainabilityBond Standards, Provided the issuance is compliant with the requirements of these Guidelines, and has received certification from an internationally-recognised certifying body. ARTICLE FOUR: LIMITATIONS ON ASEAN SUSTAINABILITYBOND LABEL Section 8. Limitation on the Use of ASEAN SustainabilityBond Label ― Consistent with public interest and protection of investors, the call for transparency, as well as to ensure integrity of the ASEAN SustainabilityBonds, the Commission reserves the right to direct any Issuer from using the “ASEAN SustainabilityBond” label. ARTICLE FIVE: EFFECTIVITY Section 9. Effectivity ―These Guidelines shall take effect immediately upon its publication in two (2) newspapers of general circulation. 25 April 2019, Pasay City Philippines. EMILIO B. AQUINO Chairperson (MS-APR. 27, 2019)

Opinion

SATURDAY, APRIL 27, 2019

mst.daydesk@gmail.com

Hopes over doubts and fears IN THE next six weeks, my Saturday column will be on the Sundays of the Easter season. This coincides with our election season which I think is providential. There is a lot to dread where the 2019 elections will bring the country. But one must not be overwhelmed by doubts and fears. Seeing both personal and historical events through the lens of the resurrection might help many of my readers.

This means that on May 13, we make the right choices.

For instance, in this First Sunday of Easter, the gospel presents two scenes and two themes, from the post-resurrection experience. The gospel of John tells us that on the evening of the first week after resurrection the disciples huddled in a room with locked doors, fearful of the Jews when Jesus appeared and stood before them. The disciples rejoiced when they saw their Master who greeted them, “Peace be with you. He then breathed on them and said to them, “Receive the Holy Spirit. Whose sins you forgive are forgiven them, and whose sins you retain are retained.” On this day, the sacrament of confession or penance was instituted. It is the single greatest and most powerful gift by God to all Christians for the sacrament showers us the grace of reconciliation, to be reconciled with the Father having been separated from by sin. No sin is too great that cannot be forgiven by God. In fact, it is said that even Judas who betrayed the Lord would have been forgiven had he believed in the boundless mercy of God and not succumbed to

despair. By the sacrament of reconciliation the faithful obtain absolution for the sins committed against God and neighbor and are reconciled with the community of the Church. By the appearance of the risen Lord, the disciples were filled with rejoicing and hope. Much like the disciples, we worship Jesus not because of what we have to offer, but because Jesus inundates us with hope and courage to face a world in constant ferment. He exploded the walls of our wretchedness with the irrefutable proof that death had been conquered, that the guilt and power of sin had been slain. The disciples were astonished, at best; despairing, at worst; helpless, in the least—and Jesus walked in their midst and greeted them with his lifechanging “peace be with you!” Now Thomas, called Didymus, one of the Twelve, was not with them when Jesus came. So when Thomas joined them, the disciples told him about the visit. But he said to them, “Unless I see the mark of the nails in his hands and put my finger into the nailmarks and put my hand into his side, I will not believe.” A week later, the disciples were inside and Thomas was with them when Jesus again appeared before them. It Thomwas on this occasion that Jesus told Thom as “Put your finger here and see my hands, and bring your hand and put it into my side, and do not be unbelieving, but believe.” Indeed, much like Thomas, many of us are often consumed with doubts on the risen Christ. We often ask ourselves—especially in times of trouble—where is God? Has God abandoned me? With so many bad things happening around, with all the evil that surrounds us and enslaves all humanity, with all the hate and anger that infuse the soul of many, we, much like Thomas, are wont to ask—I will not believe. In this age of empirical truth, we believe only in those we see, feel and hear. Jesus would also ask us the same question that he asked Thomas—Have you come to believe because you have seen me? Blessed are those who have not seen and have believed. Thomas was intimate with Jesus for three years, witnessing his miracles, listening to his teachings and prophesies about his death and resurrection. These would have been enough. But still he doubted. Jesus knew Thomas’s weakness, just as

Adelle Chua, Editor

EDITORIAL

Living and seeing

OES money truly buy happiness?

come a person needs to feel “happy.” Different researches suggest different amounts; what is agreed is that beyond the cap, the feeling diminishes. The Gallup poll, meanwhile, seems to say that while “Latin Americans may not always rate their lives the best (like the Nordic countries), they laugh, smile and experience enjoyment like no one else in the world.” Paraguay was the world's happiest and most positive country, followed by Panama, Guatemala, Mexico, El Salvador and Honduras—even as these nations suffered from high levels of poverty and violence. Meanwhile, Chad was the most negative nation, followed by Niger, Sierra Leone, Iraq and Iran. In the survey, respondents were asked positive-experience questions: Did they feel well-rested, were they treated with respect, did they smile or laugh a lot, learn or do something interesting on the day before the interview? Globally, people said they ex-

This is the question posed by Gallup’s Global Managing Partner, Jon Clifton, upon the release of Gallup’s 2019 Global Emotions Report this week. A similar poll—the World Happiness Report—is made annually by the United Nations, and it is one where the most advanced economies normally figure at the top. Better living conditions and a feeling of “thriving” are associated with advanced economies where people do not have to worry about meeting their basic needs. But Clifton says that there are two ways to define happiness: How people live their lives, and how they see it. Given this distinction, it does not automatically follow that those with a higher quality of life are necessarily the happiest. Other studies, Clifton adds, point to a cap or satiation point on how much in-

perienced a lot of enjoyment (71 percent), felt well-rested (72 percent), smiled or laughed a lot (74 percent) and felt treated with respect (87 percent). The negative-experience questions were whether respondents experienced physical pain, worry, sadness, stress, anger for most of the day before the interview. Here, people reported greater anger, worry and sadness, all record highs. Stress dropped two percentage points while physical pain was unchanged. More than 140 countries participated in the survey. These complex numbers tell us that there is really no single way to measure happiness, or even define what it is. People are culturally different and may interpret the same set of events, even the same set of questions, a different way. Still what makes us all universally human is to work toward the goal that all people would be happy because of what are happening in their lives—not in spite of them.

Turn to A5

Protesting against China LAST April 24, President Rodrigo Duterte flew to China for the fourth time since he assumed office in 2016. He will be there for the Second Belt and Road Forum for International Cooperation until April 27 upon the invitation of President Xi Jinping. The Philippine President is also expected to meet with the Chinese president to discuss issues in relation with the West Philippine Sea. Duterte left the country after an intensity 6.2 earthquake struck Luzon and a stronger one, 6.5 hit the Visayas. After he left, a series of quakes hit Davao Oriental, Davao Occidental, and the latest, the Ilocos region. At least sixteen (16) people were killed because of the quakes. The Clark Airport was damaged and operations had to be halted for a few days. A supermarket in Pampanga collapsed, roads, and public and private properties were damaged. To some people, this should be enough reason for the President to prioritize the country and not leave for China, or even cut short his visit. They note that the Head of State should be in the country leading efforts to calm a jittery populace and address the needs of those affected by the quakes. They think that the President should be visible to the people in times like this one. After all, he has visited China more than any other country. To be fair to Duterte, there are government instrumentalities tasked to do things to mitigate the effects of earthquakes and other calamities. People’s criticisms are really out of the perception that the Philippine President has (again) prioritized his relationship with China over the needs of Filipinos. Increasingly, this has been a cause for concern for a growing number of Filipinos. People do not feel that this administration, especially, the President is serving the interest of the country and the people he is mandated to serve. Lately, more and more people have been grumbling about the Chinese in the country. This is the first time that this has happened. We have a vibrant ChineseFilipino community in the country and this has never been a cause of complaints.

Filipinos and Chinese have learned to peacefully co-exist and many of the latter has become Filipino citizens, and started calling themselves “Chinoys”. They live and work, many do business in the country and Filipinos have accepted them and have had no major problems with them. In the last decade or so, we have seen an increased influx of Japanese tourists which also gave way to the establishment of small businesses catering to Japanese clients, particularly restaurants in the country. More recently, more and more Koreans have visited and studied here. Now, we see Korean restaurants and groceries in our communities. Still, there have been no substantial complaints from Filipinos. Clearly, Filipinos are generally accepting of foreigners, including the Chinese.

The unrest is growing.

Things have changed, however, in relation with how Filipinos are reacting to the Chinese. We hear grumblings, criticisms,and complaints, big and small targeted at Chinese nationals. Recently, moviegoers complained about finding Chinese subtitles in movies. Netizens have been posting critical comments when they see Chinese signages in establishments and streets. Filipinos have called-out restaurants for Chinese-only clients. The government has been criticized because of the influx of mainland-Chinese tourists especially in Boracay. It has earlier said that there will be limits in tourists that will be allowed in the place after it was supposed to have been cleaned up. The big numbers of Chinese workers even in the construction sector have been severely criticized as favoring them over Filipinos who need employment. There are those who accuse Filipinos of being racist and xenophobic because of all these. I believe that this is untrue. For the longest time, our people have been very accepting of foreigners in our land. We have always considered them Turn to A5

The BRI conundrum IT’S been almost six years since China, under the leadership of President Xi Jinping, put forward its Belt and Road Initiative. Ever since that day, the BRI has been under attack with some critics even labelling it as a front for China’s debt trap. As the present administration has been the most China-friendly the country ever had, the political opposition, just to discredit the President and further its political agenda, has launched the most vigorous anti-China campaign, even accusing the President of being a Chinese puppet. And surprisingly, even China’s erstwhile ally, the local left wing movement, had taken a strong anti-China stance, siding with the traditional political opposition. But then, if the BRI is really the vilest thing that ever happened to mankind, why, after six years, has it continued to attract support from foreign governments which by tradition and affiliation, were expected to be hostile to China? Next week, China will host the second Belt and Road Forum for International

Construction has brought dramatic changes to countries along the route. Cooperation under the theme of “Belt and Road Cooperation, Shaping a Brighter Shared Future.” And to date, over 5,000 participants from more than 150 countries have committed to attend. And they have the facts to back up their excitement in attending the forum. Over the past six years, Chinese officials say that trade volume between China and countries participating in the BRI has exceeded $6 trillion, investments have grown to over $80 billion and around 300,000 jobs have been created in the countries involved in the initiative. The BRI has brought a huge number of practical cooperation projects and created whole new markets and employment opportunities.

A framework consisting of six corridors and six channels serving multiple countries and ports is taking shape, as the Thairailway linking China with Laos and Thai land, the rail line connecting Hungary to Serbia, the high-speed railway between Jakarta and Bandung, the Gwadar port, and a series of other demonstrative projects have made concrete progress. Over the past six years, the Belt and Road construction has brought dramatic changes to countries along the route. Now, villagers who have lived in the mountains of Laos for generations can make a living from other occupations besides farming and hunting. The children there, with the electricity generated by BRI projects, have now said goodbye to the old days when they had to read under kerosene lamps. A new railway line for freight trains between Luxembourg and China’s Chengdu was recently launched, with the first train carrying 41 containers loaded with European mechanical and electrical products, food and medical apparatus to the expanding Chinese market. And just recently, Switzerland announced it may sign a referendum of understanding with China for cooperation under the framework of Belt and Road Initiative, the second Western European Turn to A5

Rolando G. Estabillo Publisher ManilaStandard

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Opinion

SATURDAY, ARPIL 27, 2019

Xian Gaza and the art of the con POP GOES THE WORLD JENNY ORTUOSTE “A THREAD: "PAANO LUMABAS NG BANSANG PILIPINAS NG MAY TATLONG WARRANTS OF ARREST AT LIMANG TAONG SENTENSIYA" Warning: The following heart-pumping storyline thread are based on real life events of yours truly Christian Albert Gaza on 30th of September year 2018.” So begins the viral post of Xian S. Gaza, self-confessed swindler and conman, about his escape from the country and successful evasion of arrest warrants and an imprisonment sentence. In June 2018, the Malabon Metropolitan Trial Court convicted Gaza for 11 counts of violating the Bouncing Check law and sentenced him to five years and six months. Gaza posted the viral thread last April 7. As of presstime, it has over 19,000 likes, 12,000 comments, and 33,000 shares. He recounts booking three different flights—two of them decoys and getting away on the third. He says he was warned by a Bureau of Immigration employee that upon passing her booth, airport security and police would be sent to arrest him. Gaza says he evaded them by hiding in a restroom and staying there until his name was called for his flight. The BI scoffed at his story that “sounds like it was taken straight out of an action movie… but sadly it’s not what actually happened,” BI spokesperson Dana Sandoval said last week. “Since he had no derogatory record when he left, he was cleared for departure. It was quite uneventful and ordinary, re-

ally. No Hollywood-level storyline, just regular immigration clearance,” Sandoval said. Sandoval said the BI might take action against Gaza. “Stunts like this using the Bureau to gain fame and stay relevant are a security risk,” she said. “He is making a mockery of our airport procedures for attention.” Gaza apologized to the BI for his ‘revelation’ and insisted that his claims were— true. Whatever actually happened, Gaza got his 15 minutes of fame and more. He revels in his notoriety, milking his adventures for attention by regularly posting updates on social media.

Is it time for a movie?

that he has a mental disorder by saying, “Yes, meron po matagal na. May retainer psychiatrist ako sa QC [Quezon City] near Trinoma since when I was 17. “I am a SOCIOPATH. I have antisocial personality disorder simula bata pa lang ako. I received ASPD [anti-social personality disorder] diagnosis many times already.” He added that he cannot empathize with the feelings of others, which makes it easy for him to manipulate and deceive. He explains, “Sociopaths often break rules or make impulsive decisions without feeling guilty for the harm they cause. Malala yung case ko because I have five out of the seven traits ng isang taong may APSD.” For all his faults, Xian’s larger-than-life narratives and witty repartee have gained him many followers on social media: Karen Vera wrote: “Eto lang ata ung scammer na, imbis mbwesit ako sayo.. natutuwa ako. (smile emoji) NASCAMM MO RIN ATA ANG PUSO KO! (heart eyes emoji) (smile emoji)” His recent status update shows Gaza in a trendy black suit with the caption, "Hulihin Niyo Ko Kung Kaya Niyo" Niyo"—Main Character: XIAN S. GAZA. Some of the finest and trustworthy businessmen are slim yellowish chinitos in tuxedo. But not Xian, Xian will take all your life savings.” Gaza is referring to ‘Catch Me If You Can,’ a film based on the life of super conman Frank W. Abagnale. While still a teen, he posed variously as a pilot, physician, lawyer, and college sociology professor, and scammed people of over $2.5 million in forged checks. Is it time for a movie based on Xian’s shenanigans? Or do we give him a few more years to see what he does next? Nyeeaam!

He claims he fled the country to find a way to pay back his victims: “Kung magpapakulong ako ng limang taon para sa isang complainant at mababayaran ko ang 32M na utang ko habang nasa loob ng kulungan eh eto na susuko na po ako ngayon na. “Kaso hindi... lalong walang mangyayari sa buhay ko at hindi ako makakagawa ng paraan para lahat sila'y mabayaran in time.” Can he be trusted? He has shown time and again what an incredible liar he is. Conmen are incredibly persuasive. They leverage confidence—they are full of selfconfidence, and they gain your confidence and trust, which they then abuse. Fool me once, shame on you; fool me But unlike many other criminals, Gaza twice, shame on me. ~ aphorism / FB and is self-aware. He responded to comments Twitter: @DrJennyO

Goons reign in Balaoan, La Union HIGHER authorities, particularly the Commission on Elections (Comelec) and the Philippine National Police (PNP), must act now to avert any more political bloodshed in Balaoan town, La Union. The local police proved helpless in curbing a spate of violence where the family and supporters of incumbent Mayor Aleli Concepcion have been the target of hired goons. It will be recalled that the mayor’s father, incumbent Vice Mayor Al-Fred Concepcion, was killed along with a bodyguard in an ambush where Aleli and several others were also wounded last November 14. Malacañang condemned the Vice Mayor’s slaying and directed the PNP to solve the case, but which now remains unfulfilled. The Concepcions belong to the administration’s PDP-Laban party. The latest attack took place on Holy

The BRI... From A4

country to do so. Additonal information on the BRI reveals that the China-sponsored Asian Infrastructure Investment Bank (AIIB) has approved $7.5 billion in loans to support infrastructure projects in 13 countries of six regions, including East Asia, Southeast Asia, South Asia, Central Asia, West Asia and Africa, driving almost $40 billion of capital into infrastructure projects over the past three years since its opening on Jan. 16, 2016. To date, the new-type multilateral development bank, with a mission to promote infrastructure connectivity, has expanded its membership from 57 founders to 93 approved members. So, given the support it has gained

Hopes... From A4

he knows ours. Jesus may not be physically present before us like in the times when he walked the earth and mingled with the people, but God is always present in us, through his Paraclete, the Holy Spirit. He is a God of history that accompanies us in every road and path we take. He promised that he would remain and guide his Church for all eternity. Even as we live our daily lives, the presence of the Lord is evident. There is no reason to doubt for his spirit abides in us in times of bounty and in times of hunger, in peace and in war. Truly, blessed are those who do not see, yet believe. In this election season, I have been going around the country giving faith-based briefings on the national situation, with a particular focus on the incoming 2019 elections. I start my talks with a presentation of the national situation which politically is very bad. The human rights situation is dire, political killings are on the rise with human rights defenders targeted, the rhetoric of hate has intensified led no less by the President himself. There is a lot to fear about. I see this in the many young people have reached out to me asking for advice on

Wednesday when a motorcycle-riding tandem riddled with bullets the house of a relative and staunch supporter of Aleli. After the assailants fled the scene, a CCTV footage retrieved by the Aleli’s camp showed the suspects coming out of the house of the mayor’s rival candidate, retired police general Pedro Obaldo Jr. minutes before the shooting. The mayor immediately brought the video to P/Sr. Insp. Juanito Buaron Jr., the local police officer-in-charge, to and press charges against Obaldo and his alleged goons. But lo and behold, Buaron did not lift a finger and even refused to invite Obaldo for questioning. In an interview with Radyo Pilipinas, the police captain said the shooting incident could not be considered politically motivated because the suspects have not been positively identified despite a video showing them coming from the house of the rival candidate of the incumbent mayor. Buaron added that the target of the shooting, Fernando Uy, himself is not running for any political office. Thus, the incident cannot be considered politically motivated. Does it take a rocket scientist

to figure that out when Uy is in fact the mayor’s relative and staunch supporter? Last March, the house of Barangay Bulbulan chairman Aristedes Marion, another strong supporter of the Concepcion family, was peppered with bullets believed to be by the same gunmen. Buaron said the case is “still under investigation.” The Balaoan Police officer-in-charge became speechless when asked to comment on a video posted on social media showing Obaldo’s bodyguards carrying long firearms during his campaign sorties. It’s clear, Buaron does not have his OIC job cut out for him. He also looks too scared of the hired goons in La Union, who roam freely in his area of responsibility. In fairness, Radyo Pilipinas interviewed retired police general Obaldo, who readily denied all the allegations against him. He did not, however, comment on the footages showing armed men coming in and out of his house, and the armed riding in tandem firing at Uy’s house. It's disheartening lawlessness that prevails in this scenic first-class municipality, just an hour’s drive from San Fernando City, La Union.

from all over the globe, why still the debt trap accusations? Are those governments too stupid not to know the implications of their participating with China’s BRI? As China insists, the Belt and Road Initiative is not a geopolitical tool or a debt trap for participating countries, but a platform for cooperation. But still, criticisms abound locally, especially on the connditions allegedly imposed by China for the Philippione government to hire Chinese contractors and workers for its funded projects. However, that is not unique to China. A few years back, a congressional investigation was conducted as to why the same set of contractors have been collaring IMF-WB funded infrastructure projects in the country. And that particular probe revealed that part of conditions of the IMFWB sets, was for their accredited contractors to be hired for the projects funded by their loans. Also, it was dictated upon on

our government to hire highly-paid consultants whom the IMF-WB designates. My colleagues and I, then Congress reporters, made sure those findings on IMFWB impositions made it to the headlines of our respective media outlets. So why did these critics not make a fuss then? Was it because they were in power then? So, who should we believe when it comes to the BRI? With six trillion dollars of planned investments in 65 countries representing 70 percent of the world’s population, 55 percent of its GDP, and 75 percent of its energy reserves, spanning the entire Eurasian landmass from Eastern China to Western Europe, covering the continent of Africa and the countries of East and Southeast Asia, China’s BRI is by far the largest scale global development project in the many thousands of years of human history. The answer is quite obvious.

whether they should leave the country for good. I see this in the palpable despair and anger expressed in social media. Doubt and fear (dread for many) are good descriptions of how many people feel about the elections. They fear for the country and what the election results would mean to it and for the future of our democracy. But these doubts and fears are self-fulfilling if they are going to discourage people from voting. Last Jan. 28, 2019, the Catholic Bishops’ Conference of the Philippines issued a pastoral statement on the forthcoming elections entitled “Seek the common good”. It begins with a characterization of the May 13, 2019 as not just an ordinary election year: “In our country today the checks and balances in the government are being undermined. So far the Senate is the institution in the government that is holding out as our country is inching towards total control.” The Bishops then proposed criteria to apply in selecting whom to vote for: They must be principled, courageous, and have the common good as their main concern and not their own political interests. The Bishops urged voters to be discerning in their votes, encouraging lay groups

to engage in discernment circles to help one another know the candidates well. The Bishops remind the faithful that participation in politics is not just to be limited to non-partisan involvement. In fact, lay Christians are also encouraged to engage in principled partisan politics. Indeed, campaigning for good candidates is an exercise of Christian faith. In this time of social media, according to the Bishops, No one can say in that she/ he cannot participate in politics: “Each of us can let our voice be heard and be a part of national conversation by posting our views in the social media, but with great respect for others and with the end of advancing the truth.” Young people are particularly encouraged to participate in the electoral process. They should use their skills and knowledge of the social media to advance what is true, what is just, and what is for the common good. There are reasons to doubt and fear, but Easter reminds us that faith and hope always prevails. But we must do our part. And that means in May 13, that we vote for the right choices. Facebook Page: Professor Tony La Viña Twitter: tonylavs

mst.daydesk@gmail.com

Charge them for every specific offense THE matrix of conspirators involving media practitioners in the plot to bring down the Duterte government could either be a plain lie converted to propaganda to give the opposition a dose of their own medicine or it indeed exists to discredit the government by presenting that crudely and cowardly video clip titled “Bikoy” with his face meticulously hidden while alleging something that could hardly convince anybody. In fact, the video clip has been dismissed by many. Yes, it is possible some media personnel are involved in the conspiracy to overthrow the government. But it takes more than their mouth to do that. Media groups such as Rappler, Vera Files, the Philippine Center for Investigative Journalism (PCIJ) and the National Union of People’s Lawyers which is identified with the CPP/NDF, are assiduously engaged in propaganda campaign. However, the government should exert extra effort to verify whether they are carrying out their duty to convey the truth or are plainly engaged in concerted propaganda to make them liable for subversion. The government cannot just pounce on anybody who is critical of it, treating them summarily as enemies of the state. It takes more than an act of writing scurrilous articles to determine their liability. One must bear in mind that anybody who maliciously attacks the government or any of its officials can only be held liable for libel. But if there is prima facie evidence that the articles in question are part of the determined effort to undermine the government, then those involved can be held liable for subversion. Maybe this explains why subversion was decriminalized by the abrogation of R.A. No. 1700 or the Anti-Subversion Act and the subsequent presidential decrees punishing similar acts. Frankly, to attribute to Ellen Tordesillas, the president of Vera Files Organization, as source of the black propaganda or alleged “nexus” of the materials to PCIJ, Rappler and to NUPL makes the whole narrative more ridiculous. If there is a case against her and her cabal, the government can do it fast by promptly filing the appropriate criminal charge of libel. Instantly, the burden would be shifted against them, as it is now their duty to prove their allegations. The charge of libel would simply compel them to recite in court all their allegations with an addendum that they prove it. The government should take the offensive of interpreting laws against them and their foreign patrons. For instance, we can cite the issue of dual citizenship. Many have been using this as their sort of protective mantle from the arms of the law. Any Filipino citizen who opts to adopt the best of both worlds like being an American and a Filipino citizen at the same time should be on guard that any time, the government from which he abandons his full loyalty can also divest him of his citizenship. The slightest violation of the law could result in the cancellation of his citizenship, just as one is free to adopt the citizenship of his choice. A dual citizen should be made to understand that once he chooses that status, he also loses the status as a natural-born citizen, and his political rights are now limited to that of a naturalized citizen. This means that his country of origin has the option to treat his citizenship as a privilege that can also be denied from him. Otherwise, the government would be discriminating its own citizens who do not have the option to select, choose or adopt that status often reserved for the rich. Thus, a person should be made to understand that when he opted to adopt dual citizenship, the state has every right to cancel his original citizenship anytime he violates the law. He now stands as an undesirable alien. He can no longer hold on to his citizenship as a birthright. If a person openly flaunts his status to allow him to jump to the other side of the fence for protection, say for engaging in subversive activities, the government should be accorded a wider leeway to cancel his citizenship and deport him after serving sentence. The government need not prove any specific offense committed but only to take cognizance of the fact that said person is of dual citizenship. Many are particularly annoyed,

Protesting... From A4

for instance, at the antics of Rappler operative Maria Ressa without her considering that dual citizenship is a mere privilege. In fact, she openly flaunts that her organization is funded by foreign media organizations with the gall to say that Rappler should be exempt from paying tax. Ressa should not only be liable for tax evasion and libel but also for the more serious charge of subversion, being a foreign agent sporting dual citizenship. Many legal pundits believe subversion still applies for the fact that she can be treated as an alien. As such, she can be peremptorily deported for exhibiting contempt and hatred to a country she claims to be a citizen.

It is not the act of receiving foreign funds but their identification with the US intelligence services which could make them liable for the more serious crime of espionage or treason.

It is an unwritten rule that a person who sports the status of dual citizenship should rere frain from publicly engaging in any partisan activity, more so if such activity is to denounce the government or any of its officials. It is a limitation that a dual citizen must accept and bear in mind. We cannot allow a dual citizen to slander the country and its officials, all for the fact that he is also a Filipino posing as journalist and dangling before us the license of freedom of the press. For a long time, Rappler, Vera Files, PCIJ and even Transparency International have been violating Section 11 of Article XVI of the Constitution. What they are doing is an open defiance of our law, much as they are fully aware and have been informed of their transgression. It is not their unfounded criticisms and attacks to our duly constituted government that is disturbing. Rather, it is their act of impunity to taunt the government and the enforcing agency to come and get them. While the rest of the local media organizations measure the limitation between press freedom from libel and from downright subversion, people who are employed and working for this front media organizations openly meddle in our internal affairs, thinking that they are above the law. Their arrogance is so nauseating that should the government attempt to protect itself against their scurrilous and libellous vilifications, they feel secure because their foreign brokers and host of international organizations that created their fictitious image as defenders of our freedom and democracy would readily come to their side. In countries that refuse to bow down to US pressure, people connected with Rappler like Solita “Winnie” Monsod, Fulgencio “Jun” S. Factoran, Jr., Carlo Almendral, Glenda M. Gloria, Manny Ayala, Federico Prieto, and Maria Ressa of Rappler; Ellen Tordesillas, Luz Rimban , Jennifer Santiago, Chi Liquicia of Vera Files Organization; and Floreen Simon, Vino Lucero, Dona Lopez, Rachel Abanilla, Karol Ilagan, Cecile Balgos, Steffi Sanchez, Dominck NA Danao, Yolanda Nicolas, Lisa Gokongwei Cheng, Fernando Felix, David Celdran, Malou Mangahas, Ma. Pilar Marinez Caedo, Howie G. Severino, John Reiner Antiquerra, and Sheila S. Coronel would have been hauled to court to answer the charge of openly receiving foreign funding from foreign foundations, and institutions serving as fronts of the US Central Intelligence Agency like the National Endowments for Democracy (NED) to purposely discredit and induce our people to lose faith in our own government. Some even say, it is not the act of receiving foreign funds but in their identification with the US intelligence services which could make them liable for the more serious crime of espionage or treason. rpkapunan@gmail.com

Filipinos are reacting now is borne out of patriotism because our country and our people are being abused by the Chinese government; and our government, led by the President, is allowing this. People are angry because the country has won its case against China, yet, this government acts like there is nothing that can be done to protect the country, the Filipinos, and our natural resources. If Duterte continues to serve like a Chinese agent to the Philippines, and if China does not stop this creeping invasion of our country, Filipinos will not stop being critical. One can expect that protests will be bigger. More and more former Duterte supporters are waking up to the harsh reality that he has failed to deliver on his campaign promises. Repeatedly, he himself has made pronouncements of his failures. Many are realizing that Duterte has failed the DDS and the country and dissatisfaction is manifested in different ways. Unrest against Duterte is growing, and protest against China will grow bigger.

as guests and friends and we put our best foot forward to be hospitable to our visitors, including those from China. How people react to mainland-Chinese now are but manifestations of the people’s disgust over China’s creeping dominance of the Philippines and this administration’s subservience to China. This is about our territories being occupied by China, and our natural resources being harvested and DESTROYED. This is about the protection of Philippine sovereignty against Chinese invasion. This is the issue. The criticisms against Duterte making his fourth trip to China when the Philippines is hit by several earthquakes is not because of the trip per se but because of the anger at this administration’s inability and/or outright refusal to protect and assert the country’s territorial integrity and sovereignty. People are angry because this government continues to act like our country is a province of China. People are protesting @bethangsioco on Twitter Elizabeth in whatever ‘small’ ways they can. How Angsioco on Facebook

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one category. The categories, listed in no specific order, include, but are not limited to, providing and/or promoting:

SEC MEMORANDUM CIRCULAR NO. 9 Series of 2019 SUBJECT: GUIDELINES ON THE ISSUANCE OF SOCIAL BONDS UNDER THE ASEAN SOCIAL BONDS STANDARDS IN THE PHILIPPINES WHEREAS, in recognition of the importance of alternative finance in supporting sustainable development in ASEAN and the increasing amount of global capital seeking green and sustainable investments, the ASEAN Capital Markets Forum developed the ASEAN Social Bond Standards to complement the ASEAN Green Bond Standards; WHEREAS, the ASEAN Social Bond Standards was developed based on the International Capital Markets Association’s (ICMA’s) Social Bond Principles and intended to enhance transparency, consistency, and uniformity of ASEAN Social Bonds which will also contribute to the development of a new asset class, reduce due diligence costs, and help investors to make informed investment decisions; WHEREAS, Section 8 of the SRC provides that securities shall not be sold or offered for sale or distribution within the Philippines, without a registration statement duly filed with and approved by the Commission; WHEREAS, Section 12 of the SRC, the relevant provisions of the 2015 Implementing Rules and Regulations of the SRC (2015 SRC IRR) and “Annex C” provides for the procedure for registration of securities and nonfinancial disclosure requirements; WHEREAS, ASEAN Social Bonds are specific purpose bonds where proceeds will be exclusively applied to finance or refinance, in part or in full, new and/or existing eligible Social Projects, and that comply with the ASEAN Social Bond Standards; WHEREAS, the requirements under the ASEAN Social Bond Standards shall be in addition to the applicable requirements under Sections 8 and 12 of the SRC; unless there is an available exemption under Sections 9 or 10 of the SRC, where the Issuer shall submit the requirements as prescribed by the Commission; WHEREAS, to assist issuers of debt instruments to register and issue bonds that are compliant with the ASEAN Social Bond Standards, the Commission deems it necessary to issue the subject guidelines; WHEREAS, the subject Guidelines should be read in conjunction with subsequent amendments/updates which the Securities and Exchange Commission (SEC or Commission) may issue from time to time. NOW, THEREFORE, pursuant to the foregoing, the Commission hereby adopts and issues the following Guidelines to supplement the requirements under Section 8 and 12 of the SRC. GUIDELINES ON THE ISSUANCE OF SOCIAL BONDS UNDER THE ASEAN SOCIAL BOND STANDARDS IN THE PHILIPPINES ARTICLE ONE: GENERAL PROVISIONS CHAPTER ONE: Definitions Section 1. Applicability – This shall be known as the “Guidelines on the Issuance of Social Bonds Under the ASEAN Social Bond Standards in the Philippines.” It shall primarily govern the issuance of the ASEAN Social Bonds where proceeds will be exclusively applied to finance or refinance, in part or in full, new and/or existing eligible Social Projects. Section 2. Definition of Terms – For purposes of these Guidelines, the following definition of terms shall apply, unless the context otherwise requires: A.

ACMF refers to the ASEAN Capital Markets Forum.

ASEAN refers to the Association of Southeast Asian Nations.

ASEAN GBS refers to the ASEAN Green Bond Standards as applicable and as revised from time to time.

ASEAN Issuer refers to an Issuer that is incorporated in any of the ASEAN countries.

ASEAN SBS refers to the ASEAN Social Bond Standards as applicable and as revised from time to time.

ASEAN Social Bonds refers to bonds and sukuk which comply with the ASEAN SBS, where the proceeds will be exclusively applied to finance or refinance, in part or in full, new and/or existing eligible Social Projects. In the case of Islamic bonds or sukuk, it must also comply with the relevant laws and requirements applicable for the issuance of Islamic bonds or sukuk. In such instances, the Islamic bonds or sukuk may be labelled as ASEAN Social Sukuk.

Issuer refers to a corporation that issues ASEAN Social Bonds and includes both an ASEAN Issuer and a Non-ASEAN Issuer.

Look-back period refers to a maximum period in the past that an Issuer will look back to identify assets/earlier disbursements to such eligible Social Projects that will be included in the social bond reporting.

Non-ASEAN Issuer refers to an Issuer other than an ASEAN Issuer.

Social Bond Principles (SBP) refers to the voluntary process guidelines issued by the International Capital Market Association (ICMA), as revised from time to time, that recommend transparency and disclosure, and promote integrity in the development of the social bond market.

Social Projects refer to the broad categories of eligible Social Projects as listed in the ASEAN SBS. The list of eligible Social Projects is not an exhaustive list.

CHAPTER TWO: Scope of ASEAN Social Bond Standards Section 3. Coverage of ASEAN Social Bond Standards – The Guidelines on the Issuance of Social Bonds Under the SBS shall apply to the issuance of ASEAN Social Bonds in the Philippines. Section 4. Suppletory Application of ICMA Social Bond Principles – The ASEAN Social Bond Standards are aligned with the ICMA Social Bond Principles. Any guidance issued by ICMA on the SBP should also be considered, where relevant. Section 5. Classification of Bonds with Environmental Co-Benefits – It is understood that certain Social Projects may also have environmental co-benefits, and that the classification of a use of proceeds bond as an ASEAN Social Bond should be determined by the Issuer based on its primary objectives for the underlying projects. Bonds that combine Green and Social Projects based on the ASEAN GBS and ASEAN SBS are referred to as ASEAN Sustainability Bonds, and specific guidance for these is provided separately in the ASEAN Sustainability Bond Standards. ARTICLE TWO: ELIGIBILITY REQUIREMENTS CHAPTER ONE: Eligibility of Issuer Section 6. Requirements for Eligible ASEAN Social Bond Issuer – The Issuer: A. Must be an ASEAN Issuer, as defined under these Guidelines; or B.

In case of a Non-ASEAN Issuer, the eligible Social Projects must be located in any of the ASEAN countries.

CHAPTER TWO: Eligibility of Issuance Section 7. Requirements for Eligible ASEAN Social Bond Issuance – ASEAN Social Bonds issuances must be originated from any of the ASEAN member countries. ARTICLE THREE: CORE COMPONENTS OF THE ASEAN SOCIAL BOND STANDARDS

Affordable basic infrastructure (e.g. clean drinking water, sewers, sanitation, transport, energy);

Access to essential services (e.g. health, education and vocational training, healthcare, telecommunication, financing and financial services);

Section 25. Quantitative Performance Measures – In relation to Section 23 of these Guidelines, the following quantitative performance1 measures may be employed by the Issuer: A. number of beneficiaries; B.

reduction in unemployment;

Affordable housing (e.g. construction, renovation and maintenance, provision of housing loans, development and provision of rental housing);

increase in number of public transport users;

increase in literacy rate; and

Employment generation (e.g. SME financing, microfinance, skills development for employability and entrepreneurship);

increase in life expectancy.

Food security (e.g. sustainable farming and fishery, agricultural credit and insurance, crop innovation, infrastructure development for agriculture and aquaculture); and

Socioeconomic advancement and empowerment (e.g. targeted financing schemes such as loans to women-based business; social support services such as rehabilitation, counselling and integration programmes; development of community centres and facilities.

Section 10. Social Projects Covering Two or More Categories – Social Projects may relate to more than one category. Section 11. Ineligible Social Projects – Projects which involve activities that pose a negative social impact related to alcohol, gambling, tabacco, and weaponry are excluded from the ASEAN SBS. Issuers are also encouraged to develop a list of additional ineligible projects for the issuance of their Social Bonds, if applicable. Section 12. Target Populations of ASEAN Social Bonds – Examples of target populations of the ASEAN Social Bonds include, but are not limited to, those that are: A.

Living below the poverty line;

Excluded and/or marginalised populations and/or communities;

Vulnerable groups, including as a result of natural disasters;

Unemployed;

People with disabilities;

Migrants and/or displaced persons;

Undereducated; and

Underserved, owing to lack of quality access to essential goods and services.

It is noted that the definition of target population can vary across ASEAN and that, in some cases, such as target population(s) may also be served by addressing the general public. Section 13. Disclosure of Use of Proceeds in Offering Documents – The utilization of proceeds from the ASEAN Social Bonds must be described in the documentation for issuance of the ASEAN Social Bonds. The Issuer must disclose the following information: A.

The categories of eligible Social Projects to which the ASEAN Social Bonds proceeds will be allocated; and/or

The information on specific Social Projects in the case where the Issuer has identified the specific Social Projects to which the ASEAN Social Bonds proceeds will be allocated.

Section 14. Disclosures in Case the Proceeds are Used for Refinancing – In the event that all or a proportion of the proceeds are or may be used for refinancing, it is recommended that Issuers— A.

provide an estimate of the share of financing and refinancing;

clarify which investments or project portfolios may be refinanced if appropriate; and

state the expected look-back period for refinanced Social Projects, to the extent relevant.

CHAPTER TWO: Process for Project Selection and Evaluation Section 15. Framework for Project Evaluation and Selection Process – The Issuer must establish the process for project evaluation and selection prior to the issuance of the ASEAN Social Bonds. Issuers are encouraged to position this information within the context of the Issuers’ overarching objectives, strategy, policy, and/or processes relating to environmental sustainability. Section 16. Disclosure of Process for Project Evaluation and Selection Process in Offering Documents – The Issuer must disclose the process for project evaluation and selection process to investors in the documentation for the issuance of ASEAN Social Bonds. Section 17. Other Disclosures to Investors – In connection with the immediately preceding Section, the Issuer of ASEAN Social Bonds must clearly communicate to investors— A.

the social objectives;

the process by which the Issuer determines how the projects fit within the eligible Social Project categories identified under Section 9; and

the related eligibility criteria, including, if applicable, exclusion criteria or any other process applied to identify and manage potentially material social and environmental risks associated with the Social Projects. Issuers are also encouraged to disclose any social standards or certifications referenced in project selection. Section 18. Disclosures on Project Evaluation and Use of Proceeds – The Issuer must make the following publicly available on a website designated by the Issuer at the time of the issuance and throughout the tenure of ASEAN Social Bonds— A.

the process for project evaluation;

the use of proceeds; and

External review report on the process (if any).

CHAPTER THREE: Management of Proceeds Section 19. Treatment of Net Proceeds – The net proceeds of the ASEAN Social Bonds, or an amount equal to these net proceeds, must be credited into a sub-account, moved to a sub-portfolio, or otherwise tracked by the Issuer in an appropriate manner and attested to by a formal internal process linked to the Issuer’s lending and investment operations for Social Projects.

Section 26. Form of Annual Reporting and External Review – The Issuer must provide to investors the annual reports and the external review on the annual reports, if any, through a website designated by the Issuer and/or through annual reports throughout the tenure of the ASEAN Social Bonds. ARTICLE FOUR: EXTERNAL REVIEW CHAPTER ONE: Engagement of External Review Section 27. Voluntary Engagement of External Review – Issuers are recommended to appoint external review providers for their ASEAN Social Bonds issuances of programmes. Section 28. Coverage of External Review ― The external review may be Partial, covering only certain aspects of the Issuer’s ASEAN Social Bonds framework or Full, assessing alignment with all four core components as stated in the ASEAN SBS. In reference to the ASEAN SBS, the ASEAN SBS specifically recommends that—

Section 21. Periodic Adjustment of Net Proceeds Balance – As long as the ASEAN Social Bonds are outstanding, the balance of tracked net proceeds must be periodically adjusted to match allocations to eligible Social Projects made during the period. Section 22. Disclosures of the Management of Proceeds in Offering Documents– The Issuer must disclose to investors in the documentation for the issuance of the ASEAN Social Bonds— A.

the process for managing the net proceeds from the ASEAN Social Bonds; and

the intended types of temporary placement for the balance of unallocated proceeds.

CHAPTER FOUR: Reporting Requirements Section 23. Continuous Reporting on the Use of Proceeds – Issuers must report to investors at least on an annual and are encouraged to make more frequent reporting on the use of proceeds until full allocation, and on a timely basis in the case of material developments. The annual report should include— A.

Section 8. Requirements for Eligible Social Projects – All designated Social Projects must provide clear social benefits, which will be assessed and, where feasible, quantified by the Issuer.

a list of the projects to which the ASEAN Social Bonds proceeds have been allocated;

brief description of the projects; and

the amounts allocated and their expected impact.

the Issuer’s process for project evaluation and selection be supported by an external review;

the Issuer’s management of proceeds be supplemented by the use of an auditor, or other third party, to verify the internal tracking method and allocation of funds from the ASEAN Social Bonds proceeds; and

the Issuer’s annual reporting on the use of proceeds be supplemented by a confirmation of such use of proceeds by an external review along with any relevant updated of the external review.

CHAPTER TWO: Qualifications of External Review Providers Section 29. ― Expertise and Experience Requirement – The external review provider must have the relevant expertise and experience in the components of the ASEAN Social Bonds which they are reviewing. CHAPTER THREE: Coverage and Types of Review Section 30. Level and Types of Review ― There are a variety of ways for Issuers to obtain outside input into the formulation of their ASEAN Social Bonds process and there are several levels and types of review that can be conducted. An Issuer can seek advice from consultants and/or institutions with recognised expertise in social issues or other aspects of the issuance of the ASEAN Social Bonds. It may cover areas such as the establishment of an Issuer’s ASEAN Social Bonds framework or the reporting of an ASEAN Social Bonds Issuer. Consultancy or advisory services entail collaboration with the Issuer and differ from independent external reviews. The ASEAN SBS encourage independent review of social features of the (types of) assets or activities associated with the ASEAN Social Bonds or ASEAN Social Bonds programme, where applicable. Independent external reviews may vary in scope and may address an ASEAN Social Bonds framework/programme, an individual ASEAN Social Bonds issuance, the underlying assets and/or procedures. They are broadly grouped into the following types, with some providers offering more than one type of service, either separately or combined: A.

Second-Party Opinion;

Verification;

Certification; and

Social Bond Scoring/Rating

Section 31. Second Party Opinion ― An institution with social expertise that is independent from the Issuer may issue a Second Party Opinion. The institution should be independent from the Issuer’s adviser for its ASEAN Social Bonds framework, or appropriate procedures, such as information barriers, will have been implemented within the institution to ensure the independence of the Second Party Opinion. It normally entails an assessment of the alignment with the ASEAN SBS. In particular, it can include an assessment of the Issuer’s overarching objectives, strategy, policy and/or processes relating to social sustainability, and an evaluation of the social features of the type of projects intended for the use of proceeds. Section 32. Verification ― An Issuer can obtain independent verification against a designated set of criteria, typically pertaining to business processes and/or social criteria. Verification may focus on alignment with internal or external standards or claims made by the Issuer. Also, evaluation of the socially sustainable features of underlying assets may be termed verification and may reference external criteria. Assurance or attestation regarding an Issuer’s internal tracking method for use of proceeds, allocation of funds from ASEAN Social Bonds proceeds, statement of social impact or alignment of reporting with the ASEAN SBS, may also be termed verification. Section 33. Certification ― An Issuer can have its ASEAN Social Bonds or associated ASEAN Social Bonds framework or use of proceeds certified against a recognised external social standard or label. A standard or label defines specific criteria, and alignment with such criteria is normally tested by qualified, accredited third parties, which may verify consistency with the certification criteria. Section 34. Social Bond Scoring/Rating ― An Issuer can have its ASEAN Social Bonds, associated ASEAN Social Bonds framework, or a key feature such as use of proceeds evaluated or assessed by qualified third parties, such as specialised research providers or rating agencies, according to an established scoring/rating methodology. The output may include a focus on social performance data, the process relative to the ASEAN SBS, or another benchmark. Such scoring/rating is distinct from credit ratings, which may nonetheless reflect material social rCHAPTER FOUR: External Review Report Section 35. ― Disclosure of External Reviewers’ Expertise and Scope – The external reviewers’ credentials under Section 29 and scope of review conducted in the external report must be disclosed in the external review report and made publicly accessible from a website designated by the Issuer throughout the tenure of the ASEAN Social Bonds. Section 36. Accessibility Requirement ― The Issuer must make the External Review Report publicly available on a website designated by the Issuer at the time of issuance and throughout the tenure of the ASEAN Social Bonds, which includes, but is not limited to:

Section 20. Non-Simultaneous Deployment of Net Proceeds – The total amount deployed from the net proceeds for the eligible Social Projects need not occur simultaneously.

CHAPTER ONE: Use of Proceeds

Section 9. Eligible Social Project Categories – Social Projects directly aim to help address or mitigate a specific social issue and/or seek to achieve positive social outcomes especially, but not exclusively, for a target population(s). The following list of project categories, while indicative, captures the most commonly used types of projects supported or expected to be supported by the social bond market. Social Project categories include other related and supporting expenditures such as research and development in relation to these Social Project categories, and may relate to more than

– Where confidentiality agreements, competitive considerations, or a large number of underlying projects limit the amount of detail that can be made available, the Issuer may present the information in generic terms or on an aggregated portfolio basis.

The external review report on the process of project evaluation and selection;

The auditor or other third party report verifying the Issuer’s management of proceeds; and

The external review on the annual reporting.

ARTICLE FIVE: APPLICABILITY ON EXISTING SOCIAL BONDS Section 37. Applicability on Existing Eligible Social Bonds ― In certain circumstances, and at the discretion of the Commission, outstanding bonds issued by Philippine-Based issuer and/or in instances where the proceeds were used in the Philippines, will be considered for eligibility under the ASEAN Social Bond Standards, Provided the issuance is compliant with the requirements of these Guidelines, and has received certification from an internationally-recognised certifying body. ARTICLE SIX: LIMITATIONS ON ASEAN SOCIAL BOND LABEL Section 38. Limitation on the Use of ASEAN Social Bond Label ― Consistent with public interest and protection of investors, the call for transparency, as well as to ensure integrity of the ASEAN Social Bonds, the Commission reserves the right to direct any Issuer from using the “ASEAN Social Bond” label. ARTICLE SEVEN: EFFECTIVITY Section 39. Effectivity ― These Guidelines shall take effect immediately upon its publication in two (2) newspapers of general circulation. 25 April 2019, Pasay City Philippines.

It is recommended that Issuers use qualitative performance indicators, and where feasible, quantitative performance measures and disclose of the key underlying methodology and/or assumptions used in the quantitative determination. Section 24. Documentation in Case of Confidential Agreements, Competitive Considerations, or Large Number of Underlying Projects

EMILIO B. AQUINO Chairperson 1

Quantitative performance measures as provided by ICMA GBP (MS-APR. 27, 2019)

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SATURDAY, APRIL 27, 2019

TODAY

in areas affecting related parties. He/she shall aid in the review of the company’s transactions and identify any potential material RPT that would require review by the Board. He/she shall ensure that the company’s material RPT policy is kept updated and is properly implemented throughout the company.

reporting PLC to direct or cause the direction of management and policies of the entity, or vice-versa. Associate - An entity over which the reporting PLC holds twenty percent (20%) or more of the voting power, directly or indirectly, or which the reporting PLC has significant influence. Significant Influence - The power to participate in the financial and operating policy decisions of the company but has no control or joint control of those policies.

SEC MEMORANDUM CIRCULAR NO. 10 Series of 2019

• •

SUBJECT : RULES ON MATERIAL RELATED PARTY TRANSACTIONS FOR PUBLICLY-LISTED COMPANIES To promote good corporate governance and the protection of minority investors, the Commission, pursuant to its regulatory power underSection 179(d) of the Revised Corporation Code of the Philippines (Republic Act no. 11232) resolved to issue the Rules on Material Related Party Transactions for Publicly-Listed Companies attached to this Memorandum Circular. Rules on Material Related Party Transactions The Rules on Material Related Party Transactions recognizes that transactions between and among related parties may create financial, commercial and economic benefits to individual institutions and to the entire group where said institutions belong. In this regard, related party transactions (RPTs) are generally allowed provided, that when RPTs amount to ten percent (10%) or higher of a company’s total assets, it shall be considered as material related party transactions subject to these Rules. The Rules focuses and regulates only material RPTs or RPTs amounting to ten percent (10%) or higher of a company’s total assets.Compliance to these Rules shall be mandatory for ALL publicly-listed companies (PLCs).

•

Related party transactions- a transfer of resources, services or obligations between a reporting PLC and a related party, regardless of whether a price is charged. It should be interpreted broadly to include not only transactions that are entered into with related parties, but also outstanding transactions that are entered into with an unrelated party that subsequently becomes a related party. Material Related Party Transactions – Any related party transaction/s, either individually, or in aggregate over a twelve (12)-month period with the same related party, amounting to ten percent (10%) or higher of a company’s total assets based on itslatest audited financial statement. Materiality Threshold–Ten percent (10%) of the company’s total assets based on its latest audited financial statement. If the reporting PLC is a parent company, the total assets shall pertain to its total consolidated assets. Related Party Registry – A record of the organizational and structural composition, including any change thereon, of the company and its related parties.

All existing publicly-listed companies shall be required to submit to the Commission a policy on material related party transactions in accordance with these Rules within six (6) months from the effectivity of the Material RPT Rules. Companies listed after the effectivity of these Rules shall be required to submit their Material RPT Policy in accordance with these Rules within six (6) months from listing date.The policy shall be signed by the company’s Chairman of the Board and Compliance Officer.

The Material RPT Policy with accessible link shall be posted on the company’s website within five days (5) from submission to the Commission.

The Advisement Report on Material RPTs (Annex A of the Rules) shall be filed within three (3) calendar days after the execution date of the transaction. The Advisement Report shall be signed by the reporting PLC’s Corporate Secretary or authorized representative.

A summary of material related party transactions entered into during the reporting year shall be disclosed in the company’s Integrated Annual Corporate Governance Report (I-ACGR) submitted annually every May 30.

BASIC PENALTY

Php10,000.00

MONTHLY PENALTY

Php1,000.00

Whistle blowing mechanisms. The policy shall include effective whistleblowing mechanisms consistent with the corporate values and codes of conduct set by the board of directors. The policy shall encourage all stakeholders to communicate, confidentially and without the risk of reprisal, legitimate concerns about illegal, unethical or questionable material RPTs. It shall include guidance onhow legitimate material concerns should be reported, investigated and addressed by an objective independent internal or external body, senior management and/or the board itself.

Remedies for abusive material RPTs. The policy shall include measures that would cut losses and allow recovery of losses or opportunity costs incurred by the company arising out of or in connection with abusive material RPTs. The policy shall also include the penalties and the manner of imposing the same onpersonnel, officers or directors, who have been remiss in their duties in handling material RPTs in accordance with company policies.

Php 30,000.00

Php 200.00

Php 40,000.00

Php 400.00

Reprimand

Php 10,000.00

Php 200.00

Php 20,000.00

Php 400.00

Further, the commission of a fourth offense for the same violation is a ground for the suspension/revocation of the erring company’s registration or secondary license, which shall be made after notice and hearing, in accordance with the abovementioned procedures.

This is without prejudice to administrative penalties that may be imposed by the Commission pursuant to the provisions of the Revised Corporation Code of the Philippines, Securities Regulation Code and other related laws.

The imposition of the foregoing penalties shall be without prejudice to any other administrative penalties that may be imposed by the Commission, and/or civil or criminal penalties, as may be provided by the Revised Corporation Code of the Philippines, Securities Regulation Code, and other related laws.

Identification of related parties. The policy shall clearly identify persons and companies that are considered as the company’s related parties. The policy shall require Management/Board of Directors to quarterly review and update the Related Party Registry to capture organizational and structural changes in the company and its related parties.

Coverage of Material RPT policy. The material RPT policy shall cover all transactions meeting the materiality threshold. Transactions amounting to ten percent (10%) or more of the total assets that were entered into with an unrelated party that subsequently becomes a related party may be excluded from the limits and approval process required in the policy. However, any alteration to the terms and conditions, or increase in exposure level, related to these transactions after the non-related party becomes a related party shall subject the material RPT to the requirements of this Material RPT Rules. The prospective treatment should, however, be without prejudice to regulatory actions that may be enforced for transactions noted to have not been conducted on an arm’s length basis.

c. RULES ON MATERIAL RELATED PARTY TRANSACTIONS FOR PUBLICLYLISTED COMPANIES Policy Statement

Adjusted Thresholds. The company shall be allowed to set a threshold lower than the materiality threshold provided under these Rules upon determination by the board of directors of the risk of the RPT to cause damage to the company and its shareholders. The adjusted threshold, when applicable, shall be contained in the company’s material RPT policy.

Identification and prevention or management of potential or actual conflicts of interest which may arise out of or in connection with material RPTs. The policy shall cover the identification and prevention or management of potential or actual conflicts of interest which may arise out of or in connection with the material RPTs. Directors and officers with personal interest in the transaction shall fully and timely disclose any and all material facts, including their respective interests in the material RPT and abstain from the discussion, approval and management of such transaction or matter affecting the company. In case they refuse to abstain, their attendance shall not be counted for purposes of assessing the quorum and their votes shall not be counted for purposes of determining majority approval.

Guidelines in ensuring arm’s length terms. The policy shall have clear guidelines in ensuring that no preferential treatment shall be given to related parties that are not extended to non-related parties under similar circumstances.

Transactions covering ten percent (10%) or more of a publicly-listed company’s (PLCs) total assets involve, on average, an amount of Three Billion, Four Hundred Ninety-Eight Million, One Hundred Twenty-One Thousand, FiftyNine and 28/100 Pesos (PhP3,498,121,059.28)taking into account the total assets of all PLCs for the year 2017. Further, the 10% materiality threshold is significantly higher compared to the 0.09 percent (0.09%) average threshold set by PLCs. Considering the magnitude and impact of these transactions to the financial position of thecompany and to the interest of its stakeholders, SEC considers 10% of the total assets of the PLC as the materiality threshold for related party transactions covered under the Material RPT Rules. Ten percent (10%) of the company’s total assets is likewise acknowledged by World Bank as an acceptable threshold in determining materiality for related party transactions based on international best practices.

Advisement Report (attached as Annex “A”) of any material RPT filed within three (3) calendar days from the execution date of the transaction. The Advisement Report shall be signed by the reporting PLC’s Corporate Secretary or authorized representative.

At a minimum, the disclosures in both (1) and (2) above shall include the following information: i. ii. iii. iv. v.

complete name of the related party; relationship of the parties; execution date of the material RPT; financial or non-financial interest of the related parties; type and nature of transaction as well as a description of the assets involved; vi. total assets (consolidated assets, if reporting PLC is a parent company); vii. amount or contract price; viii. percentage of the contract price to the total assets of the reporting PLC; ix. carrying amount of collateral, if any; x. terms and conditions; xi. rationale for entering into the transaction; and xii. the approvalobtained (i.e., names of directors present, name of directors who approved the material RPT and the corresponding voting percentage obtained). 3.

All existing publicly-listed companies shall be required to submit to the Commission a policy on material related party transactions in accordance with these Rules within six (6) months from the effectivity of the Material RPT Rules. Companies listed after the effectivity of these Rules shall be required to submit their Material RPT Policy in accordance with these Rules within six (6) months from listing date. The policy shall be signed by the company’s Chairman of the Board and Compliance Officer. The Material RPT Policy with accessible link shall be posted on the company’s website within five days (5) from its submission to the SEC.

Section 5. PENALTIES The penalties below shall be imposed for the following violations: a. Non/Late Filing of or Incomplete/IncorrectSignature in the Material Related Party Transaction Policy BASIC PENALTY

Php10,000.00

MONTHLY PENALTY

Php1,000.00

Violation Non/Late Filing of Advisement Report Incomplete / Incorrect Advisement Report

First Offense

Second Offense Basic Penalty Daily Penalty

Third Offense Basic Penalty Daily Penalty

Reprimand

Php30,000.00

Php200.00

Php40,000.00

Php400.00

Reprimand

Php10,000.00

Php200.00

Php20,000.00

Php400.00

Continued non-payment of the assessed fine and/or failure to comply with the requirementwithin a period of fifteen (15) days after notice and hearing, shall be a sufficient ground for the Commission to take other appropriate action or remedies available under Section 158 of the Revised Corporation Code of the Philippines. Further, the commission of a fourth offense for the same violation is a ground for the suspension/revocation of the erring company’s registration or secondary license, which shall be made after notice and hearing, in accordance with the abovementioned procedures. This is without prejudice to administrative penalties that may be imposed by the Commission pursuant to the provisionsof the Revised Corporation Code of the Philippines, Securities Regulation Code and other related laws. c. Abusive Material Related Party Transactions Pursuant to Sections 26 and 27 of the Revised Corporation Code, an interested director or officer of a corporation shall be disqualified from being a director, trustee or officer of any other corporation on the basis of a final judgment rendered by a court of competent jurisdiction against the interested director or officer for abusive materialRPTs. The disqualification shall be for a period of at least one (1) year or more, as may be determined by the Commission. The imposition of the foregoing penalties shall be without prejudice to any other administrative penalties that may be imposed by the Commission, and/or civil or criminal penalties, as may be provided by the Revised Corporation Code of the Philippines, Securities Regulation Code, and other related laws.

Before the execution of the material RPT, the Board of Directors should appoint an external independent party to evaluate the fairness of the terms of the material RPTs. An external independent party may include, but is not limited to, auditing/accounting firms and third party consultants and appraisers. The independent evaluation of the fairness of the transparent price ensures the protection of the rights of shareholders and other stakeholders. The policy shall also include guidance for an effective price discovery mechanism to ensure that transactions are engaged into at terms that promote the best interest of the company and its shareholders. The price discovery mechanism may include, but is not limited to, acquiring the services of an external expert, opening the transaction to a bidding process, or publication of available property for sale. f.

Section 1. Definition of Terms For purposes of this Material RPT Rules, the following definitions shall apply: Related parties - covers the reporting PLC’s directors, officers, substantial shareholders and their spouses and relatives within the fourth civil degree of consanguinity or affinity, legitimate or common-law, if these persons have control, joint control or significant influence over the reporting PLC. It also covers the reporting PLC’s parent, subsidiary, fellow subsidiary, associate, affiliate, joint venture or an entity that is controlled, jointly controlled or significantly influenced or managed by a person who is a related party. Substantial Shareholder - any person who is directly or indirectly the beneficial owner of more than ten percent (10%) of any class of its equity security. Affiliate - refers to an entity linked directly or indirectly to the reporting PLC through any one or a combination of any of the following: • Ownership, control or power to vote, whether by permanent or temporary proxy or voting trust, or other similar contracts, by a company of at least ten percent (10%) or more of the outstanding voting stock of the PLC, or vice-versa; • Interlocking directorship or officership, except in cases involving independent directors as defined under existing regulations; • Common stockholders owning at least ten percent (10%) of the outstanding voting stock of the reporting PLC and the entity; or • Management contract or any arrangement granting power to the

b. Non/LateFiling of or Incomplete/Incorrect Advisement Report

EMILIO B. AQUINO Chairperson

Compliance to the Material RPT Rules shall be mandatory forALLPLCs pursuant to the SEC’s authority under Section 179 (d) of Republic Act No. 11232 otherwise known as the Revised Corporation Code of the Philippines.

A summary of material related party transactions entered into during the reporting year which shall be disclosed in the company’s Integrated Annual Corporate Governance Report (I-ACGR) to be submitted annually every May 30;

Senior Management

At a minimum, material RPT policies shall include, but not be limited to the following:

For the Commission:

SEC recognizes that transactions between and among related parties may create financial, commercial and economic benefits to individual institutions and to the entire group where said institutions belong. In this regard, related party transactions (RPTs) are generally allowed provided, that when RPTs amount to ten percent (10%) or higher of a company’s total assets, it shall be considered as material related party transactions subject to these Rules.

The monthly penalty will continue to accrue until the Material RPT Policy is submitted to the SEC.

The board of directors shall adopt a group-wide material RPT policy encompassing all entities within the conglomerate, taking into account its size, structure, risk profile and complexity of operations.

Pasay City, Philippines, 25April 2019.

The Securities and Exchange Commission (SEC), in the fulfillment of its mandate to protect the corporate sector, the capital market participants, the securities and investment instruments market, and the investing public from insider trading, and other manipulative devices and practices which create distortions in the free market, hereby adopts the following Rules on Material Related Party Transactions (Material RPT Rules).

The reportingPLC shall submit the following to the SEC:

To oversee the integrity, independence, and effectiveness of the policies and procedures for whistleblowing. The board should ensure that senior management addresses legitimate issues on material RPTs that are raised. The board should take responsibility for ensuring that stakeholders who raise concerns are protected from detrimental treatment or reprisals.

Section 3: MATERIAL RELATED PARTY TRANSACTIONS POLICY

Effectivity This Memorandum Circular shall take effect upon its publication in two (2) newspapers of general circulation.

Determine, identify and monitor related parties and material RPTs; Continuously review and evaluate existing relationships between and among businesses and counterparties; and Identify, measure, monitor and control risks arising from material RPTs.

Senior management shall implement appropriate controls to effectively manage and monitor material RPTs on a per transaction and aggregate basis. Exposures to related parties shall also be monitored on an ongoing basis to ensure compliance with the company’s policy and SEC’s regulations.

c. Abusive Material Related Party Transactions Pursuant to Sections 26 and 27 of the Revised Corporation Code, an interested director or officer of a corporation shall be disqualified from being a director, trustee or officer of any other corporation on the basis of a final judgment rendered by a court of competent jurisdiction against the interested director or officer for abusive material RPTs. The disqualification shall be for a period of at least one (1) year or more, as may be determined by the Commission.

Section 4. DISCLOSURE AND REGULATORY REPORTING

To establish an effective audit, risk and compliance system to:

The system shall be able to define the related parties’ extent of relationship with the company; assess situations in which a nonrelated party (with whom a company has entered into a transaction) subsequently becomes a related party and vice versa; and generate information on the nature and amount of exposures of the company to a particular related party. The said system will facilitate submission of accurate reports to the regulators/supervisors. The system as well as the overarching policies shall be subject to periodic assessment by the internal audit and compliance officers and shall be updated regularly for their sound implementation. The overarching policy and the system shall be made available to the SEC and audit functions for review.Any change in the policy and procedure shall be approved by majority of the board of directors and approved by majority of the stockholders constituting a quorum.

Third Offense Basic Daily Penalty Penalty

Reprimand

Abusive material RPTs refer to material RPTs that are not entered at arm’s length and unduly favor a related party.

To approve all material RPTsthat cross the materiality threshold and write-off of material exposures to related parties, as well as any renewal or material changes in the terms and conditions of material RPTs previously approved in accordance with Section 3 (f) of these Rules.

•

b. Non/Late Filing of or Incomplete/Incorrect Advisement Report

Non/Late Filing of Advisement Report Incomplete / Incorrect Advisement Report

To institutionalize an overarching policy on the management of material RPTs to ensure effective compliance with existing laws, rules and regulations at all times and that material RPTs are conducted on an arm’s length basis, and that no shareholder or stakeholder is unduly disadvantaged.

• •

The monthly penalty will continue to accrue until the Material RPT Policy is submitted to the SEC.

Second Offense Basic Daily Penalty Penalty

Material changes in the terms and conditions of the material RPT include, but are not limited to, changes in the price, interest rate, maturity date, payment terms, commissions, fees, tenor and collateral requirement of the material RPT.

a. Non/late filing of or incomplete/incorrect signature in the Material Related Party Transaction Policy

First Offense

Disclosure requirement of material RPTs. The members of the board, substantial shareholders, and officers shall fully disclose to the Board of Directors all material facts related to material RPTs as well as their direct and indirect financial interest in any transaction or matter that may affect or is affecting the company. Such disclosure shall be made at the board meeting where the material RPT will be presented for approval and before the completion or execution of the material RPT.

Board of Directors

The board of directors shall have the overall responsibility in ensuring that transactions with related parties are handled in a sound and prudent manner, with integrity, and in compliance with applicable laws and regulations to protect the interest of the company’s shareholders and other stakeholders. Towards this end, the board of directors shall carry out the following duties and responsibilities:

Imposable Penalties

Violation

Power over the reporting PLC; Exposure, or rights, to variable returns from its involvement with the reporting PLC; and The ability to use its power over the reporting PLC to affect the amount of the reporting PLC’s returns.

Section 2. DUTIES AND RESPONSIBILITIES

Disclosure/Reportorial Requirements 1.

Control - A person or an entity controls a reporting PLC if and only if the person or entity has all of the following:

: PUBLICLY-LISTED COMPANIES

Approval of material RPTs.Allindividual materialRPTsshall be approved by at leasttwo-thirds (2/3)vote of the board of directors, with at least a majority of the independent directors voting to approve the material RPT. In case that a majority of the independent directors’ vote is not secured, the material RPT may be ratified by the vote of the stockholders representing at least two-thirds (2/3) of the outstanding capital stock. For aggregate RPT transactions within a twelve (12)-month period that breaches the materiality threshold of ten percent (10%) of the company’s total assets, the same board approval would be required for the transaction/s that meets and exceeds the materiality threshold covering the same related party. Directors with personal interest in the transactionshould abstain from participating in discussions and voting on the same. In case they refuse to abstain, their attendance shall not be counted for the purposes of assessing the quorum and their votes shall not be counted for purposes of determining approval.

Self-assessmentand periodic review of policy - The internal audit shall conduct a periodic review of the effectiveness of the company’s system and internal controls governing material RPTs to assess consistency with the board-approved policies and procedures. The resulting audit reports, including exceptions or breaches in limits, shall be communicated directly to the Audit Committee. The company’s ComplianceOfficer shall ensure that the company complies with relevant rules and regulations and is informed of regulatory developments

(MS-APR. 27, 2019)

CYAN MAGENTA YELLOW BLACK

Riera U. Mallari, Editor; Reuel Vidal, Assistant Editor

sports@manilastandard.net

sports_mstandard@yahoo.com

SATURDAY, APRIL 27, 2019

SMB poised to set history

Sports

By Jeric Lopez SAN MIGUEL BEER is only four wins away from an unprecedented fifth straight PBA Philippine Cup championship. That’s after the defending champion booked a return trip to the finals in the All-Filipino conference after dominating its rugged best-of-seven semifinals series with semis newbie Phoenix Pulse, 4-2. The Beermen made a strong statement that they are still the standard in the league as they defend their crown. They wrapped up their semis tussle with the Fuel Masters last Thursday night in Game 5, 105-94. Looking forward to what lies ahead, San Miguel Beer coach Leo Austria wants to keep his team’s approach simple. “I’m positive that we learned a lot from previous series and we can carry it along,” said Austria. “I hope we could sustain our momentum in the finals.” Austria and his wards are now on a very brief break following a grueling three-week stretch that saw them conquer TNT KaTropa in the quarterfinals and Phoenix in the semis in exhausting playoffs. Now, the Beermen await their challenger in the big stage. They can either have a rematch of last year’s finals with Magnolia or a fresh challenge from Rain or Shine. Ahead 3-2, the Hotshots are trying to take the last finals berth as they look to finish off the Elasto Painters in Game 6 of their series, which is happening as of press time. San Miguel handled Magnolia, 4-1, in last season’s Philippine Cup finale to win its fourth straight crown.

Lampacan leads Muay Thai fighters to Australia FOUR members of the national Muay Thai team will take their campaign in a serious tone in the coming 2019 Arafura Games in Australia They will seek all the medals that they can get their hands on when bantamweight Ariel Lampacan, featherweight Philip Belarmino, Ryan Jakiri (63kgs) and female entry Jenny Lyn Olsim finally goes on top of the ring. Lampacan won the gold in the Ipma world championships in Cancun, Mexico, while Belarmino, who is the team skipper, is a fearsome fighter after taking the 57 kg silver medal in Asian Indoor Martial Arts Games in Turkmenistan. Jakiri is the bronze medalist in the 63kg class of the recent Southeast Asian Games, while Olsim, who won the 54 kg gold in last year’s East Asian Championships in Hong Kong. National coach Billy Alumno said their campaign will serve as their preparation for the coming 30th Southeast Asian Games. “They are all preparing for the SEA Games,” said Alumno. The Philippines will be sending around 120 athletes to the 2019 Arafura Games, which will be held from April 26 to May 4. And most of the athletes that will be there won’t be just competing for medals, they will be there in the spirit of fun, camaraderie and cooperation. That’s because of many of them hail from Mindanao, with Davao City sending the most with around 70, and they join representative from Bacolod, Cagayan de Oro, Davao del Norte, General Santos and Palawan. Australian Ambassador Steven Robinson hosted a sendoff dinner at his North Forbes Park residence in Makati City on Wednesday last week, along with Philippine Sports Commission officials, led by chairman William Ramirez. Peter Atencio

TAIL SLIDE. Gabriel Medina of Brazil performs a spectacular surfing maneuver. He rides up a wave then drops right back down during the heats of the Rip Curl Pro at Bells Beach, some 100km south-west of Melbourne on April 26, 2019. AFP

Kim outduels Jahns to win Razon Cup S

TA. ROSA, Laguna—Kim Joo Hyung outdueled Keanu Jahns in another nerve-wracking ﬁnish at The Country Club Invitational here yesterday, birdying No. 16 from four feet for a crucial two-shot swing and snaring a one-stroke victory in recordsetting fashion.

Tied with Jahns at one-over overall with three holes left, Kim kept his poise and came through with two big shots on the difficult par-4 16th—a solid drive and a superb approach shot—then drilled in that birdie putt from close range after Jahns muffed his par-putt bid from six feet. Not even a closing bogey on the tough 18th could spoil Kim’s claim to fame in the premier event also known as the Razon Cup as the young Korean finished with a 74 for a 72-hole total of a two-over 290 worth P1.5 million. Not only did he keep the crown snatched by compatriot Micah Shin from 2017 winner and absentee Miguel

Tabuena last year, but also he emerged as the youngest winner of the premier event also known as the Razon Cup at 16, nine months after posting such record when he scored a breakthrough win at Pueblo de Oro last July. He also set aside personal woes in the last 18 holes that further underscored his maturity and character not to mention poise needed in such kind of pressurepacked finishes. “It’s quite hurting and disturbing upon learning that my grandma has been diagnosed with cancer. But I set aside that (bad news) since I didn’t want it to affect my game,” said Kim. “I wanted to win so I kept playing till

the end. I’m happy I made it.” It was a sorry setback for the 22-yearold Jahns, who gallantly fought back from four down after 54 holes with that birdie splurge at the back to get a clear shot at the crown in what has long been considered a major championship outside of the Philippine Open. He closed out with a second straight 71 for second at 291, still his best finish in six years worth P700,000. “I need to toughen up more and more practice and sacrifice,” said Jahns. Clyde Mondilla, who also pounced on a late two-shot swing to regain a share of the lead with Kim in the third round, struggled to survive a 38 start but still stayed in hunt with a two-over overall card after 13 holes. But the Del Monte ace bowed out with back-to-back bogeys from No. 15 for a 76 and missed making it two-in-row here after besting a crack international field to nail his first Phl Open victory three weeks ago.

Spurs force game seven with Nuggets LOS ANGELES, United States—The San Antonio Spurs weren’t about to go quietly in their first round series with the Denver Nuggets, delivering a dominating 120-103 win on Thursday to force a winner-take all game seven. The Spurs kept their postseason alive by shooting and re-

San Antonio Spurs star player DeMar DeRozan (10) tries to dribble past three Denver Nuggets during Game Six of Round One of the 2019 NBA Playoffs at the AT&T Center in San Antonio, Texas. AFP

bounding their way to victory in game six at home after losing two straight in the series. “We had to come out aggressive,” said Spurs DeMar DeRozan. “At halftime we discussed how we were getting outrebounded and we tried to buckle down and did a better job in the second half. Everybody fell in line.” Game seven will be Saturday in Denver, where the second-seeded Nuggets had the best home record in the NBA in the regular season. LaMarcus Aldridge poured in 26 points and grabbed 10 rebounds, and DeRozan added 25 points as the Spurs, who were the better team off the bench and down the stretch. Rudy Gay added 19 points for the Spurs. Derrick White and Bryn Forbes scored 13 and 12 points, respectively, for San Antonio, the seventh seed in the West. “Rudy Gay off the bench was a huge factor,” said Nuggets coach Mike Malone. “You knew at some point he was going to make an imprint on the series and he did tonight in a big way.” Nikola Jokic scored 43 points to set a Nuggets’ franchise playoff record in the loss. The total was a career high for the Serb star. Jokic also grabbed 12 rebounds and recorded nine assists. Malone said they were hampered by too many careless turnovers. “It was turnovers for us and it was offensive rebounds for them. And just no defense. The attention to detail was not there tonight and we have to be much better next game,” he said. AFP

Mojdeh expected to break swim marks By Peter Atencio SWIMMER Michaela Jasmine Mojdeh and the Wangkay sisters, Laurize Jeante and Qaantreulle, are among those expected to come up with a good showing when the 2019 Palarong Pambansa gets going at the University of the Philippines (UP) Sports complex in Davao City on Monday. Mojdeh, who made efforts to improve on her times in the recent Luzon leg of the Batang Pinoy, is seeking to post at least one record-breaking feat when she debuts in the secondary girls swimming competition. The 12-year-old Mojdeh said she has broken the 200-meter butterfly record in the secondary girl division during practices here with her teammates. Mojdeh hopes to do the same in actual competition. “Hopefu ly, mas mapababa ko pa iyung record pagdating ng Palaro,” said Mojdeh, who will swim for the National Capital Region. Last year, Mojdeh finished her first outing in the Palaro in Vigan when she earned six gold medal after joining seven events. Mojdeh, now a seventh grader from Immaculate Heart of Mary in Paranaque, will be going for five gold medals, as she is entered in the 100-meter and 200-meter individual medleys, 100-m and 200-m breaststrokes and the 200-meter butterfly. Suzanne Himor of the Southern Tagalog Region holds the record in the 200-meter butterfly at 2:25.21. In secondary girls’ athletics, Laurize Jeante Wangkay is seeking to retain the 2,000 meter walk title while representing the Southern Tagalog region with her younger sister Qaantreulle. Quaantrelle, who completed her stint in Batang Pinoy swimming meet with one gold and four silvers in the 12-under action, is expected to make her presence felt in the secondary division swimming meet as well. Meanwhile, the scheduled opening of Palarong Pambansa has been moved from April 27 to April 28, Sunday, at the Davao City-UP Sports complex.

PBA stars teach children at hoop camp WHAT do PBA stars in their offseason? For the Alaska Aces, who bowed out of the ongoing PBA Philippine Cup, it’s teaching children to play basketball in the Alaska Milk Basketball Powercamp at the Ateneo De Manila University covered courts. Chris Banchero, who led the PBA in assists the past conference, said there is no better feeling than teaching children. “It’s the best feeling. Helping the younger generation play basketball. It’s (basketball) taken me this far. Taken me all the way here to be in another country. It’s good to

watch them (children) play basketball. It’s good to see the young kids come out here,” said Banchero. The Alaska Aces, including Banchero, Vic Manuel, Ping Exciminiano, Jake Pascual, Yutien Andrade among others, took time from their busy schedule to be with about 300 children who attended the Manila hoop camp. The Alaska Powercamp teaches more than basketball skills. It also instills the value of discipline, perseverance, teamwork and determination and teaches the importance of proper nutrition for the growth and development of the camp participants.

PBA Legend Jeff Cariaso leads a team of coaches who teach campers how to become better basketball players. Participants will learn theoretical and practical lessons and undergo intensive drills but with their safety and well-being as top priority. There will also be a camp at the Trinity Christian School May 9 to 16 in Bacolod City To register in the Bacolod camp just P2,500 worth of any Alaska products (50 percent of total must be Alaska Fortified Powdered Alaska Aces point guard Chris Banchero (right) shows Milk Drink or Alaska Chocolate children the proper way to do the defensive stance during the Alaska Milk Basketball Powercamp. Powdered Milk Drink).

IN BRIEF

Penalties on outages to restrict investors

PHILIPPINE Independent Power Producers Inc. said Friday imposing penalties on unplanned or forced outages can be restrictive to investors in the power sector. “Instead of discussing penalties which can be restrictive to investors, we need to discuss solutions and mitigation plans based on our demand and supply situation. Penalties are merely reactionary and do not focus on the problem at hand which is the lack of new plants, particularly peaking plants to act as our insurers when there is a peak in the system,” said PIPPA president Anne Estorco Macias. PIPPA reacted to calls for penalties on forced and unplanned outages of power plants that are causeing yellow and red alerts this month. National Grid Corp. of the Philippines declared a yellow alert status for the Luzon grid on Friday from 10 a.m. to 4 p.m. on Friday on an available capacity of 11,544 megawatts against the peak demand of 10,632 MW. PIPPA said construction of peaking plants should be encouraged. These plants are tapped during peak hours when the demand is high. Alena Mae S. Flores

Business

Tanduay Double Rum receives gold medal

FROM among thousands of spirits across the globe, Tanduay Double Rum was adjudged as one of the best by the Wine & Spirits Wholesalers of America and the 2019 San Francisco World Spirits Competition (SFWSC). Tanduay Double Rum received the gold medal from the Wine & Spirits Wholesalers of America and the silver medal in the SFWSC. Almost 3,000 spirits joined the competition this year, the largest in its 19-year history. “We are honored to receive these awards. They are testaments to our commitment to making world-class products and highlighting the craftsmanship of the Filipino,” said Lucio Tan, president and chief operating ofﬁcer of Tanduay Distillers Inc. Tanduay has a full range of rums that are categorized according to their type (dark, gold, white), proof (alcohol strength), age and character. Tanduay Double Rum is a blend of two aged reserves—16-year-old rum and 5-year-old rum that are aged in the barrel for another two years. It is produced in small batches with a minimum run of only 5,000 bottles per production. It is a “sipping rum” that belongs to the cognac level of spirits.

SATURDAY, APRIL 27, 2019

By Julito G. Rada

TOYOTA PLANT VISIT. Toyota Motor Philippines Corp. executive vice president for manufacturing Yoshiyuki Matsuo (right) addresses Toyota Asia-Pacific manufacturing officers during a plant visit. Toyota recently hosted the 11th Asia Pacific Production SelfReliance Meeting, which aims to strengthen capabilities of Toyota’s manufacturing plants in the region. With Matsuo is Toyota Motor Corp. general manager Kazunori Takagi (front, fourth from left).

Alcantara, Zambo co-op reach compromise deal C By Alena Mae S. Flores

ROWNINVESTMENTS Holdings Inc. and Desco Inc. Investment Holdings Inc., the investor manager of the Zamboanga Electric Cooperative, have forged a compromise agreement with Western Mindanao Power Corp. to pave the way for a stable power supply in Zamboanga City. Crown-Desco agreed to pay WMPC of the Alcantara Group its past due accounts for October and November 2018 amounting to ₱220 million after a hearing at the Energy Regulatory Commission on April 25 on the petition of the power supplier to resolve the dispute. “The ERC convinced the parties to enter into a compromise for a period of 60 days. We have been asked to pay partially two invoices that are pending. In the meantime, WMPC will run their power plant during this compromise situation, which dramatically lessens the frequency of brownouts,” said Crown representative Jomar Castillo. ERC director for legal services Gregorio Ofalsa, the appointed hearing ofﬁcer on the dispute resolution case,

summoned the lawyers of the opposing camps and ordered a recess for over one hour for the parties to resolve power outages in the city without compromising their respective petitions. After the recess, both parties agreed to resume the supply to power to Zamcelco for a period of 60 days effective April 29, or upon receipt of payment from the Crown-Desco joint venture. The two parties also agreed to put into writing the compromise agreement by Monday when ERC hearing ofﬁcer Ofalsa will issue a 60-day status quo ante order. This is Crown’s third offer of partial payment to cover for WMPC’s operational and fuel costs. It made the ﬁrst offer of P150 million in February. The

Ayala, units bare new venture capital fund worth $150m CONGLOMERATE Ayala Corp. and its subsidiaries are launching a new venture capital fund with at least $150 million to invest globally in new technologies that can complement its business activities. Ayala chief finance officer Jose Teodoro Limcaoco said in a press briefing following the annual stockholders’ meeting that Ayala would seek to focus on startups in their early growth stage and support tech innovations in data and analytics, machine learning, artificial intelligence, cloud computing, fin-tech, automation, real estate, retail, transport, energy, water, health and wellness and food. Ayala and units Ayala Land Inc., Bank of the Philippine Islands, Globe Telecom Inc., AC Energy and other selected invited investors have committed to raise the fund, which will be managed by Kickstart Ventures Inc. (Kickstart). Limcaoco said the $150-million fund will be invested over the next five years. Ayala chairman and chief executive Jaime Augusto Zobel de Ayala saed the group was undergoing a massive transformation to aggressively expand the digitalization of its companies. The company earlier committed to pour in $250 million in minority investments in emerging technologies. Ayala has already gained a foothold in fin-tech, e-commerce, logistics, industrial technologies and health tech, and plans to invest substantially in tech innovations globally to help bring the country at par with the rest of the digital world. Jenniffer B Austria

business@manilastandard.net extrastory2000@gmail.com

Japan’s rating agency lifts PH credit outlook

Sales of auto imports rose by 8% in March

VEHICLE importers reported an 8-percent increase in sales in March to 7,952 units from 7,380 units year-on-year. The increased reversed the trend in the first two months of the year when sales fell 8 percent. Sales of members of the Association of Vehicle Importers and Distributors dropped 3 percent in the first three months of 2019 to 22,497 units from 23,083 units on year. “AVID’s first quarter 2019 performance indicates that the automotive industry has turned the corner and is now experiencing modest recovery. We expect a further upturn in the next three quarters on the back of improved consumer sentiment, the introduction of exciting and innovative vehicles, and the government’s aggressive infrastructure program. AVID aims to be at the forefront of this growth in vehicle sales,” said AVID president Ma. Fe PerezAgudo. Sales of the light commercial vehicles segment in March rose 21 percent to 4,998 units from 4,130 units on year, making it the primary growth and volume driver. Othel V. Campos

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

second offer was P220 million pesos made on April 3. WMPC rejected both offers. WMPC is owned by the Crown-Desco, which took over management of Zamcelco in January, earlier questioned the effectivity of the Zamcelco-WMPC power supply contract and used it as basis for withholding payment to WMPC. “WMPC is committed to resolving the ongoing power crisis in order to provide the people of Zamboanga City with access to stable power supply and thus ensure access to basic services, security in the region and the conduct of peaceful elections. This was the overriding consideration in agreeing to a compromise amount of ₱220 million even if Zamcelco’s past due accounts have now reached ₱467 million,” a WMPC official said. WMPC earlier filed a petition with the ERC seeking relief from the refusal of Crown to pay past due accounts that reached ₱467 million from October in 2108 to February 4, 2019, when WMPC’s 105-megawatt bunker fuelfired power plant in Sangali, Zamboanga City stopped operating due to a critical fuel supply level.

NICKEL PROSPECTS.

The Philippine Nickel Industry Association, represented by chairman Isidro Alcantara (above), underlines the nickel industry’s efforts in boosting global prospects to remain competitive in the world market during the 1st Philippine Natural Resources Development Forum in Marriott Hotel, Manila. The European Chamber of Commerce of the Philippines convened the forum.

Gatchalian urges govt to aggressively pursue oil drilling SENATOR SHERWIN Gatchalian urged the government Friday to aggressively pursue oil and gas exploration explorations now that the arbitration court in Singapore has ﬁnally resolved the $1.1-billion tax case of Shell Philippines Exploration B.V. over the Malampaya tax dispute. Gatchalian, chair of the Senate Committee on Energy, said there was no longer a legal impediment for investors to counduct oil and gas explorations after the ruling issued by the International Chamber of Commerce in Singapore. Gatchalian said the multi-billion tax case had discouraged foreign players from conducting petroleum explorations in the Philippines over the past several years and driven away investments in high risk, capital-intensive and technol-

ogy-intensive sectors. “With the case now behind us, it is high time for the government to aggressively pursue a “Drill, Drill, Drill” program, so that we can tap these oil and gas resources and use them to achieve Philippine energy independence and pave the way for the country to become an energy exporting powerhouse,” Gatchalian said. The Philippines has been grossly trailing behind its Asian neighbors in terms of petroleum exploration and development activities. The Philippines drilled an average of ﬁve wells in a 10-year period compared with the double and triple averages of other Southeast Asian countries. The Petroleum Association of the Philippines is also optimistic that the ICC ruling on Spex’s corporate income tax issue will revitalize the oil exploration industry.

The Malampaya consortium claimed that it obtained a favorable ruling from the ICC on Spex’s tax dispute with the government it ﬁled in 2015. Spex is the operator of the Malampaya gas project in northwest Palawan with its 45-percent stake. Other members of the consortium are Chevron Malampaya LLC with a 45-percent stake and state-owned PNOC Exploration Corp. owning the remaining 10 percent. “I have not seen the decision itself, although I have read and heard about it. I hope the government will react positively. This of course will be of great help to the exploration industry,” said PAP chairman Ruﬁno Bomasang. Alena Mae S. Flores and Macon Ramos Araneta

THE Japan Credit Rating Agency, whose opinions matter to Japanese and other regional investors, on Friday raised its outlook for the Philippines from BBB+ stable to BBB+ positive, citing Manila’s twin efforts to accelerate infrastructure development and boost revenues through tax reform. The positive outlook puts the Philippines just a notch away from securing a single-A credit rating from JCR. JCR said the massive infrastructure projects being undertaken by the Philippines would help sustain robust economic growth for the country over the medium to long term, while the comprehensive tax reform program would help keep the fiscal house in order despite increased spending. “... Infrastructure development has accelerated under the Duterte administration amid expanding expenditures based on its Public Investment Program and improved budget execution rate brought by budget reforms,” it said. It also noted that “(a)s part of its efforts to secure the necessary financial resources for such expanding expenditures, the government has been vigorously pursuing its comprehensive tax reform program (CTRP).” Finance Secretary Carlos Dominguez III welcomed the positive outlook from JCR, citing it as “recognition of the Duterte administration’s aggressive yet prudent economic policy of spending big on infrastructure modernization while maintaining fiscal discipline.” Bangko Sentral ng Pilipinas Governor Benjamin Diokno also welcomed the latest comments from JCR, saying “the Philippines’ robust economic growth is sustainable over the long haul, in part because of the BSP’s commitment to maintain price stability and the soundness of the banking and financial system.” Diokno added “the BSP will continue to provide an enabling environment for sustainable, robust, and more inclusive economic growth by staying committed to its price and financial stability mandates.”

Cemex’s profit jumped by 137% to P172m in Q1 By Jenniffer B. Austria Cemex Holdings Philippines Inc. said Friday net income surged 137 percent in the first quarter of the year to P172 million from P73 million year-onyear on better operating income and lower foreign exchange losses. Cemex said in a disclosure to the stock exchange net sales climbed six percent from January to March this year to P6.23 billion from P5.89 billion a year ago on higher prices, a result of the price adjustments implemented in 2018. Sales volume, however, dropped one percent as the company was still recovering at the start of the year from the impact of the September 2018 landslide in Naga City, Cebu, near its APO plant. Sales volumes, however, increased throughout the quarter, reaching an all-time high in monthly sales volume in March, driven by a strong residential sector and sustained public infrastructure spending. “At the start of the year, we set out goals for the company to grow our sales volume with the market and generate production and distribution efficiencies. There were challenges at the beginning as we were still recovering our markets that were affected by last year’s landslide in Naga City but I believe we managed to make significant progress along the way,” said Cemex president and chief executive Ignacio Mijares. Cost of goods sold during the first quarter rose 14 percent on year because of the maintenance shutdown of the Solid cement plant that was not made in the previous year. The company also used outsourced clinker inventory and cement imports that the company built up and ordered in late 2018 in response to the Naga City landslide.

Business

SATURDAY, APRIL 27, 2019 extrastory2000@gmail.com

Stock market drops; Cemex rallies T HE stock market slipped Friday in cautious trading, with investors treading carefully as global slowdown worries return to the fore.

The Philippine Stock Exchange Index fell 26.17 points, or 0.3 percent, to 7,868.28 on a value turnover of P5.7 billion. Losers beat gainers, 94 to 81, with 61 issues unchanged. Conglomerate SM Investments Corp. of the Sy Group dropped 2 percent to P931, while major property developer Ayala land Inc. also declined 2 percent to P48.50. Cemex Holdings Philippines Inc. rallied 5.3 percent to P2 after net income surged 137 percent in the ﬁrst quarter of the year to P172 million from P73 million year-on-year.

Bank of the Philippine Islands, the third-biggest lender in terms of assets, rose 2.4 percent to P83.45. Asian markets, meanwhile mostly fell Friday, with analysts pointing to an economic divergence between the US and the rest of the world. Shanghai dropped 1.2 percent, extending losses of more than two percent Thursday as investors fret that a run of market-supporting stimulus measures aimed at supporting the economy could be coming to an end. Tokyo ended down 0.2 percent and Seoul shed 0.5 percent, while there were also losses in Taipei, Wellington and Bangkok. Singapore was ﬂat. But Hong Kong added 0.2 percent after suffering ﬁve straight days of decline, while Sydney, Mumbai and Singapore edged up. Traders have been cheered by a string of better-than-expected earnings from corporate titans this reporting

season, with Facebook, Microsoft and Amazon adding to the positive mood on Wall Street, but unable to fuel broad gains. However, there have been a couple of misses from other top firms, while a series of downbeat data and central bank caution have dampened spirits. Central banks in Japan, Sweden, Turkey and Ukraine, with an eye on the global outlook, on Thursday took a dovish turn and flagged softer policy in the near future. That came after a growth forecast cut by the Bank of Canada. Meanwhile low inflation has led to speculation the Reserve Bank of Australia could soon cut borrowing costs, while the European Central Bank is battling weak eurozone growth. On top of that, a drop in German business confidence fanned worries about the bloc’s biggest economy, while South Korea saw its worst performance in 10 years during the first quarter.

But while the Federal Reserve has said it will not likely raise interest rates this year, the US economy continues to outpace its peers and the jobs market is flourishing, with Wall Street hitting new records this week. Eyes are now on the release of US growth data later Friday. “While positive earning numbers have lent massive support to US equities, it’s hard to ignore the inescapable fact that we are back to the divergent economic narrative where the US economy is on fire while ice water continued to pour over the rest of the globe,” said Stephen Innes of SPI Asset Management. There was little reaction to soothing comments from Xi Jinping on trade, a pledge to remove subsidies for Chinese firms and not keep the yuan artificially low. Top Chinese and US negotiators resume negotiations next week in Beijing aimed at ending their longrunning trade war. With AFP

MANILA STANDARD BUSINESS DAILY STOCKS REVIEW FRIDAY, APRIL 26, 2019

VALUE

NET FOREIGN BUYING/(SELLING), PHP

FINANCIALS 58.65 18,730 83.45 3,281,870 134 2,022,640 26.8 88,900 18.94 89,300 11.58 129,900 4.73 88,000 7.89 1,100 0.59 5,000 0.5 308,000 75.75 3,452,900 0.98 690,000 21.5 1,100 51.3 108,550 175.5 1,670 110.3 100 58.95 4,250 26 1,500 180.5 380,900 1,830 10 60.5 1,470 1.13 9,000

1,097,154 273,748,005 270,442,147 2,364,005 1,691,874 1,516,636 414,750 8,713 2,950 152,715 260,871,720.50 668,090 23,625 5,609,900 294,125 11,030 250,558.50 39,000 68,402,376 18,300 89,025 10,170

1,080,231.50 13,496,093 -4,652,793 -637,430 1,325,776 -207,580 99,000 -72,344,398 -400,820 -10,725 -2,220,787.50 -10,440 2,580,839 -22,385 -

37.05 16.14 0.84 1.38 0.236 1.95 15.22 110 27.95 16.3 45 68.4 1.95 10.64 15.8 9.35 7.38 21.7 78.2 28.5 2.4 11.4 12.46 1.71 301.2 52.5 3.39 10.06 22.25 14.98 22 380.2 0.201 6.04 1.22 4.3 6.2 9.04 1.42 11.84 44.25 5 4.75 1.62 1.97 1.24 12.28 112.1 6.81 0.128 0.96 141.2 2.5 1.37 16 1.15

INDUSTRIAL 37.4 1,106,800 16.14 298,900 0.88 2,595,000 1.39 90,000 0.245 1,860,000 2 35,242,000 15.36 659,600 110 210 28 117,500 16.3 100 45 400 68.4 1,250 1.95 75,000 10.74 2,924,600 15.9 1,384,300 9.4 117,300 7.39 269,300 21.7 611,900 78.5 165,600 28.55 17,600 2.49 6,381,000 11.48 5,859,600 12.46 435,000 1.79 297,000 303 494,290 52.5 110 3.4 54,000 10.5 13,700 22.5 1,249,600 15.02 2,655,500 22.05 2,029,200 384 96,360 0.202 320,000 6.08 14,700 1.24 1,516,000 4.42 84,000 6.21 3,719,800 9.04 2,000 1.44 2,962,000 12.08 56,700 45 69,800 5.1 173,600 4.8 51,000 1.72 9,000 2.12 57,000 1.29 43,000 12.78 245,300 114.9 140,090 6.9 47,500 0.128 600,000 0.99 350,000 142.1 608,380 2.5 13,000 1.37 2,968,000 16 1,000 1.2 3,006,000

41,299,495 4,828,038 2,240,800 124,720 447,890 70,397,250 10,130,832 23,100 3,336,735 1,630 18,000 85,506.50 146,250 31,485,396 22,099,348 1,100,338 1,990,140 13,326,075 13,001,285.50 508,085 15,887,840 67,717,268 5,420,954 511,290 149,795,242 5,775 187,040 140,870 28,001,340 39,868,902 44,749,270 36,892,180 64,360 89,468 1,874,620 370,510 23,222,481 18,080 4,244,270 681,374 3,120,485 868,250 244,750 15,270 121,270 53,930 3,062,034 15,997,028 330,905 77,000 338,780 86,321,754 32,500 4,106,950 16,000 3,604,030

8,033,360.00 1,344,766 37,840 243,270 -36,263,710 -370,544 -468,395 18,000 -5,836,810 -984,000 -99,015 -6,051,230 -8,151,238.50 -1,293,760 -16,088,184 3,511,428 -50,768,514 -87,990 5,232 -7,075,910 47,896 2,182,200 38,948 -317,540 -5,012,815.00 2,712.00 -126,840 -382,555 -857,030.00 3,048,747 1,400 -36,160,291 32,500 -11,200 -13,200

0.58 52.5 14.82 0.76 18.2 1.37 1.4 882.5 7.41 11.3 14.72 0.241 852.5 6.15 63.8 6.3 0.495 5.02 15.6 0.55 4.44 0.038 1.12 2.83 172.9 930.5 0.9 1.34 431 265 0.237 0.325

HOLDING FIRMS 0.61 9,740,000 55 758,070 14.96 3,028,800 0.78 106,000 18.46 28,000 1.37 5,853,000 1.4 719,000 895 293,870 7.59 233,300 11.38 2,265,300 14.84 99,000 0.255 910,000 860 58,390 6.74 12,500 64.6 2,238,110 6.3 64,000 0.495 301,000 5.09 3,686,100 16.02 752,600 0.55 41,000 4.57 13,938,000 0.04 2,900,000 1.12 3,000 2.84 336,000 174 235,170 931 175,610 0.92 2,350,000 1.34 31,000 431 60 270 1,240 0.243 13,680,000 0.345 10,360,000

5,853,380 40,792,759 45,221,810 81,900 514,892 8,103,990 1,006,600 261,975,455 1,761,401 25,779,588 1,470,036 230,490 50,247,605 82,786 144,873,057 408,870 149,745 18,824,102 12,008,220 22,550 62,898,030 113,600 3,360 952,960 40,952,206 164,179,205 2,150,870 41,840 25,900 332,820 3,368,080 3,506,800

-137,740 -1,064,348.50 8,038,492 -1,858.00 824,600.00 -41,614,915 123,010 -10,866,458 -74,266 -20,962,765 16,059,459 -2,314,408 4,155,816 22,000 -11,029,730 -3,031,160 -105,102,410 -13,400 12,500 -422,800

29,986,266 83,670 71,720 943,260 1,011,146,290 335,990 3,849,850 13,910 2,258,790 64,820 88,010 763,460 5,420,480 19,984,895 583,100 28,499,300 584,620 162,852,204 2,653,250 57,200 7,829,940 74,400 733,490

279,918 -58,200 103,715,055 -107,160 92,620 22,440 9,900 -1,260,894 5,908,015 -23,904,880 -92,801,154.00 0 -773,000 -93,700

NAME

OPEN

HIGH

LOW

ASIA UNITED BANK PH ISLANDS BDO UNIBANK CHINABANK COL FINANCIAL EAST WEST BANK FERRONOUX HLDG FILIPINO FUND FIRST ABACUS MEDCO HLDG METROBANK NTL REINSURANCE PBCOM PHIL NATL BANK PHIL STOCK EXCH PHILTRUST PSBANK RCBC SECURITY BANK SUN LIFE UNION BANK VANTAGE

57.95 81.95 134 26.8 18.92 11.58 4.74 7.88 0.59 0.5 76.55 0.96 21.45 52.5 178 110.3 58.95 26 181 1,830 60.7 1.13

58.65 83.8 134 26.8 19 11.8 4.77 8 0.59 0.5 76.8 0.98 21.5 53 178 110.3 59 26 181 1,830 60.7 1.13

57.8 81.95 132 26.4 18.92 11.54 4.61 7.88 0.59 0.495 75.2 0.95 21.45 51.1 174 110.3 58 26 178 1,830 60.5 1.13

ABOITIZ POWER AGRINURTURE ALLIANCE SELECT ALSONS CONS BASIC ENERGY CEMEX HLDG CENTURY FOOD CHEMPHIL CIRTEK HLDG CNTRL AZUCARERA CONCEPCION CONCRETE A CROWN ASIA DNL INDUS EAGLE CEMENT EEI CORP EMPERADOR FIRST GEN FIRST PHIL HLDG GINEBRA GREENERGY HOLCIM INTEGRATED MICR IONICS JOLLIBEE LIBERTY FLOUR MABUHAY VINYL MACAY HLDG MANILA WATER MAXS GROUP MEGAWIDE MERALCO MG HLDG PANASONIC PEPSI COLA PETROENERGY PETRON 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 VIVANT VULCAN INDL

37.8 16.16 0.85 1.38 0.238 1.98 15.3 110 28.1 16.3 45 68.4 1.95 10.64 15.8 9.4 7.43 21.8 79 29.9 2.48 11.4 12.58 1.73 303 52.5 3.63 10.5 22.75 15 22.05 384 0.201 6.05 1.24 4.3 6.35 9.04 1.45 12 45.2 5 4.8 1.65 2.15 1.29 12.34 115.6 6.96 0.129 1 142.5 2.5 1.37 16 1.15

37.8 16.26 0.88 1.4 0.245 2.04 15.5 110 29 16.3 45 68.45 1.95 10.88 16 9.42 7.43 22.1 79.05 29.9 2.55 11.88 12.58 1.79 305 52.5 3.63 10.5 22.8 15.1 22.25 384 0.202 6.1 1.26 4.49 6.35 9.04 1.45 12.08 45.8 5.1 4.8 1.74 2.15 1.29 12.78 115.6 7.09 0.129 1 142.6 2.5 1.41 16 1.22

ABACORE CAPITAL ABOITIZ EQUITY ALLIANCE GLOBAL ANGLO PHIL HLDG ASIABEST GROUP ATN HLDG A ATN HLDG B AYALA CORP COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA PRIME ORION SAN MIGUEL CORP SM INVESTMENTS SOC RESOURCES SOLID GROUP SYNERGY GRID TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.59 54.5 14.94 0.79 18.48 1.39 1.4 890 7.6 11.44 14.88 0.241 853 6.15 65 6.39 0.52 5.03 16.08 0.55 4.46 0.04 1.12 2.93 175 944 0.93 1.35 435 269 0.24 0.33

0.61 55.05 15 0.79 18.98 1.39 1.4 896.5 7.6 11.48 14.88 0.255 877 6.8 65 6.39 0.52 5.17 16.08 0.55 4.57 0.04 1.12 2.93 177.7 950 0.95 1.35 435 270 0.26 0.345

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

14.88 0.78 1.93 0.79 49.5 2.43 4.36 6.35 0.52 0.83 0.92 0.237 10.74 25.7 0.49 1.53 1.31 5.56 0.335 0.47 1.69 0.43 2.5

14.88 0.78 1.94 0.81 49.6 2.46 4.36 6.35 0.52 0.84 0.92 0.244 11.1 25.85 0.49 1.54 1.32 5.57 0.34 0.5 1.78 0.44 2.5

14.5 0.76 1.93 0.77 48 2.42 4.3 6.32 0.5 0.83 0.9 0.237 10.52 25.1 0.49 1.51 1.31 5.49 0.33 0.47 1.64 0.43 2.41

VOLUME

OPEN

HIGH

LOW

VOLUME

VALUE

NET FOREIGN BUYING/(SELLING), PHP

ROBINSONS LAND ROCKWELL SHANG PROP SM PRIME HLDG STA LUCIA LAND STARMALLS VISTA LAND

24.2 2 2.99 40.9 1.69 7.12 7.32

24.5 2 3.04 41.8 1.82 7.12 7.48

23.7 2 2.97 40.55 1.69 6.9 7.31

24.5 2 3.04 40.9 1.8 7.05 7.37

1,043,600 7,000 142,000 6,200,600 8,043,000 107,400 2,551,400

25,489,240 14,000 424,290 254,266,640 14,200,420 752,928 18,877,644

765,330 35,224,405 -274,350 -34,545 -759,698

2GO GROUP ABS CBN APC GROUP APOLLO GLOBAL ASIAN TERMINALS BERJAYA BLOOMBERRY BOULEVARD HLDG CEBU AIR CHELSEA DISCOVERY WORLD EASYCALL FAR EASTERN U GLOBE TELECOM GMA NETWORK GOLDEN BRIA HARBOR STAR IMPERIAL INTL CONTAINER IPEOPLE IPM HLDG ISLAND INFO ISM COMM LBC EXPRESS LEISURE AND RES LORENZO SHIPPNG MACROASIA MANILA BULLETIN MANILA JOCKEY METRO RETAIL METROALLIANCE A MLA BRDCASTING NOW CORP PACIFIC ONLINE PAL HLDG PAXYS PH RESORTS GRP PHIL RACING PHIL SEVEN CORP PHILWEB PLDT PREMIUM LEISURE PRMIERE HORIZON PUREGOLD ROBINSONS RTL SSI GROUP STI HLDG TRANSPACIFIC BR TRAVELLERS WATERFRONT WILCON DEPOT

13 19.02 0.43 0.039 15.58 2.57 12.98 0.07 81.2 5.33 2.06 13.52 890 1,780 5.13 408.2 2.85 1.85 124.4 11.02 7.04 0.129 5.13 15.74 3.75 0.84 21.7 0.61 4.75 3.4 1.84 15.2 2.34 4.3 10 3.37 4.17 8.45 116.5 3.04 1,235 0.75 0.97 44.2 78.2 2.69 0.68 0.37 5.63 0.66 16.8

13.04 19.14 0.435 0.039 15.7 2.63 13 0.071 81.95 5.47 2.06 14 890 1,780 5.18 419.6 2.87 1.95 126.2 11.48 7.04 0.129 5.16 15.74 3.75 0.84 21.7 0.61 4.75 3.45 1.84 16 2.35 4.33 10.38 3.37 4.29 8.45 118 3.25 1,235 0.77 0.98 44.25 78.3 2.8 0.68 0.37 5.63 0.68 16.8

12.62 18.9 0.42 0.039 15.58 2.45 12.76 0.069 81.15 5.33 2.06 12.54 890 1,762 5.13 408 2.78 1.85 123.2 11.02 6.98 0.125 5 15.74 3.65 0.81 21.55 0.58 4.75 3.39 1.84 15.08 2.3 4.29 10 3.1 4.16 8.45 116.5 3.04 1,214 0.73 0.93 43.6 77.25 2.68 0.67 0.365 5.62 0.66 16.5

SERVICES 12.64 19 0.43 0.039 15.66 2.53 12.98 0.07 81.6 5.37 2.06 13.26 890 1,766 5.17 418.4 2.78 1.94 125.2 11.48 6.98 0.126 5.06 15.74 3.75 0.84 21.6 0.58 4.75 3.43 1.84 16 2.33 4.32 10.2 3.1 4.29 8.45 118 3.18 1,220 0.75 0.94 43.6 78.3 2.8 0.68 0.37 5.62 0.68 16.5

49,300 102,500 340,000 2,200,000 8,600 410,000 8,091,200 21,710,000 23,440 1,030,700 1,000 379,200 100 36,495 82,100 1,740 2,693,000 8,000 2,036,500 11,800 15,000 1,130,000 1,383,900 200 927,000 501,000 501,800 672,000 10,000 2,902,000 10,000 3,400 1,516,000 22,000 5,000 17,000 69,000 100 194,140 4,572,000 97,555 3,544,000 22,938,000 3,934,700 68,530 25,811,000 1,067,000 2,750,000 34,800 319,000 1,131,800

640,872 1,948,846 143,750 85,800 134,666 1,038,340 104,971,530 1,518,550 1,911,563 5,540,563 2,060 5,029,188 89,000 64,472,820 423,086 725,748 7,571,870 15,350 254,171,626 135,418 105,310 144,060 7,007,853 3,148 3,418,210 416,000 10,842,410 393,210 47,500 9,932,760 18,400 51,628 3,514,560 94,970 50,530 53,160 288,980 845 22,906,020 14,394,050 119,047,115 2,670,600 21,786,090 172,864,830 5,359,596 71,460,670 715,350 1,011,200 195,809 213,630 18,904,548

84,100 -15,700 -22,540 -55,104,440 14,000 -748,766 95,120 29,266,865 81,511,906 -1,102 116,249.00 -1,937,100 4,016,090 92,140 25,460 -12,990 -18,660 484,840 48,350,430 -138,910 -1,841,740 -24,285,515 35,597 26,638,280 -147,100 367,500 -35,440 6,700 -1,923,216

ABRA MINING APEX MINING ATLAS MINING ATOK BENGUET A BENGUET B CENTURY PEAK COAL ASIA HLDG DIZON MINES FERRONICKEL GEOGRACE LEPANTO A MARCVENTURES NICKEL ASIA NIHAO OMICO CORP ORNTL PENINSULA ORNTL PETROL A ORNTL PETROL B PHILODRILL PX MINING PXP ENERGY SEMIRARA MINING

0.002 1.38 2.87 12.7 1.5 1.42 2.72 0.29 8.06 1.52 0.255 0.112 1.09 2.47 1 0.6 0.91 0.012 0.012 0.012 3.15 8.48 23.7

0.002 1.38 2.87 12.74 1.5 1.42 2.72 0.3 8.14 1.54 0.265 0.112 1.09 2.47 1.03 0.61 0.92 0.012 0.012 0.012 3.17 9.21 23.7

0.0018 1.31 2.87 11.54 1.5 1.42 2.68 0.29 7.99 1.51 0.248 0.11 1.09 2.43 0.99 0.59 0.91 0.012 0.012 0.011 3.15 8.26 23.6

MINING & OIL 0.002 1,464,000,000 1.33 2,055,000 2.87 3,000 12 16,400 1.5 1,000 1.42 3,000 2.68 807,000 0.29 870,000 8.05 10,000 1.53 13,094,000 0.255 2,660,000 0.112 2,450,000 1.09 1,000 2.44 175,000 1.01 271,000 0.59 17,000 0.92 40,000 0.012 308,600,000 0.012 220,000,000 0.011 3,300,000 3.17 270,000 8.93 6,693,100 23.6 756,300

2,783,600 2,741,220 8,610 193,472 1,500 4,260 2,163,520 252,800 80,476 19,966,180 671,370 270,570 1,090 428,050 270,150 10,170 36,520 3,703,200 2,640,000 39,100 852,680 59,584,456 17,875,645

-805,030 -85,580 369,600 -69,350 2,304,916.00 15,700,250

ABS HLDG PDR AC PREF B1 AC PREF B2 ALCO PREF B DD PREF GMA HLDG PDR MWIDE PREF PNX PREF 3B SMC FB PREF 2 SMC PREF 2C SMC PREF 2D SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2I SFI PREF

18.5 474.8 497 97.3 97 5.01 100.1 106 980 76.9 72.9 72.5 74 73 73.4 1.65

18.5 475 497 97.3 97 5.1 100.1 106 980 76.9 72.9 73 74 74.4 73.45 1.65

18.5 474.8 497 96 97 5 100.1 106 970 76.9 72.9 72 74 73 73.4 1.65

PREFERRED 18.5 2,400 475 90 497 200 96 6,400 97 430 5.1 29,300 100.1 2,000 106 100 970 840 76.9 130 72.9 90 72 504,780 74 50 74.4 67,480 73.45 6,000 1.65 1,000

44,400 42,746 99,400 620,640 41,710 149,001 200,200 10,600 815,000 9,997 6,561 36,344,809 3,700 4,967,044 440,625 1,650

LR WARRANT

1.91

1.92

1.91

WARRANTS 1.92 69,000

132,260

ITALPINAS XURPAS

5.32 1.16

5.37 1.17

5.12 1.15

5.15 1.16

5,502,644 1,538,850

524,988 -103,400

FIRST METRO ETF

117.5

117.9

117

562,777

USD DMPL A1 USD TECH B2

10.1 1

10 1

74,947 580

NAME

PROPERTY 14.76 0.77 1.94 0.8 48.5 2.43 4.35 6.32 0.51 0.83 0.91 0.237 11.08 25.4 0.49 1.52 1.32 5.55 0.34 0.5 1.75 0.44 2.48

2,049,500 110,000 37,000 1,197,000 20,647,000 138,000 887,000 2,200 4,448,000 78,000 96,000 3,220,000 499,900 785,900 1,190,000 18,738,000 445,000 29,353,100 8,000,000 120,000 4,523,000 170,000 299,000

TRADING SUMMARY

FINANCIAL

11,469,900

INDUSTRIAL

84,181,358

HOLDING FIRMS

95,893,393

PROPERTY

120,331,834

SERVICES

115,510,364

MINING & OIL

115,510,364

GRAND TOTAL

2,026,130,933

SME

1,051,200 1,329,000

EXCHANGE TRADED FUNDS 117.7 4,790 10 1

DDS

7,470 580

VALUE 1,743.79 (up) 3.06 947,527,886.30 FINANCIAL INDUSTRIAL 11,397.31 (down) 47.89 759,664,876.985 HOLDING FIRMS 7,535.66 (down) 18.69 1,108,598,952.60 PROPERTY 4,292.32 (down) 28.97 1,585.73 (down) 1.58 1,846,893,104.88 SERVICES MINING & OIL 7,800.34 (down) 18.62 938,866,257.14 PSEI 7,868.28 (down) 26.17 938,866,257.14 All Shares Index 4,856.35 (down) 11.31 114,594,104.503 Gainers: 81; Losers: 94; Unchanged: 61; Total: 236

GrabPay, SM team up on cinema payments By Darwin G. Amojelar GRABPAY, the mobile wallet of Southeast Asia’s leading app Grab, has teamed up with SM Investments Corp. to accept QR code payment in SM Cinemas. “The Philippines is ripening for a digital payments revolution. In the Philippines, we are seeing consistent increase in our GrabPay user base, with a 130 percent growth from the first quarter of 2018 to present,” said GrabPay managing director for Singapore, Malaysia and the Philippines Ooi Huey Tyng. “As the leading super app in Southeast Asia, we are excited to take our innovative mobile wallet GrabPay outside of the Grab app and bring it closer to the everyday lives of Filipinos, starting with SM Cinema,” Tyng added. GrabPay is rolling out in all SM cinemas in Metro Manila and Cebu this month and will be available nationwide by the end of 2019. Select SM Cinema kiosks will also offer exclusive GrabPay snacks and drinks to GrabPay users. GrabPay will also be available online through the SM Cinema website to let users to purchase their movie tickets in advance. To use the service, they simply have to go to the SM Cinema website, select ticket orders, and choose GrabPay at checkout. This makes it more convenient for customers that want to secure the best seats without lining up for tickets. “We have always strived to provide our patrons with the best cinema experience in the country, and we continuously invest in new technologies to further improve our services. With a shared vision of creating meaningful and better experiences for our customers, partnering with Grab to elevate the SM Cinema experience from ticketing to watching films will help us achieve our goal,” said SM Lifestyle Entertainment Inc. senior assistant vice president for ad and corporate sales Maria Isabel Santillian. GrabPay first entered into a strategic partnership with SMIC in November to jointly develop products and services that will promote cashless transactions across the Philippines. GrabPay and SMIC’s partnership aims to open up opportunities to take more Filipinos into a more cashless society. This involves the integration of GrabPay with the different companies of the SM group.

DoE terminates geothermal deal of Basic Energy BASIC Energy Corp. said the government terminated its geothermal service contract covering the East Mankayan Geothermal Project in the provinces of Benguet, Ifugao and Mountain Province. The company said it received the geothermal contract on February 5, 2013, with a five-year pre-development phase to end on February 2018. The company during the period conducted geological and geophysical studies to determine the potential of the geothermal resource and an information and education campaign in the affected areas. “As the company encountered difficulties in securing clearances from the indigenous people (IPs) in the communities involved, the company requested the DoE (Department of Energy) on January 8, 2018 for a suspension of obligations, until it has addressed issues raised by the IPs,” said Basic. “After more than 15 months, the DoE, finally acted on the company’s request for suspension of obligations ruling that the non-completion of the predevelopment phase of the project was not due to force majeure and terminated the service contract retroactive February 8, 2018,” it added. Basic also received from the DoE a letter denying the request for a moratorium on another geothermal contract covering the West Bulusan Geothermal Project. The company sought the request as early as October 26, 2016 due to the strong opposition of the local communities and the diocese of Sorsogon. The DoE did not consider the situation as a force majeure and terminated the contract effective October 19, 2018. Basic appealed the termination with the DdE. Earlier, Basic completed the acquisition of a 15-percent stake in VTE International Co. Ltd. (Thailand), or Vinter. Vinter and Vintage EPC Company Ltd., in which BEC has another 15-percent equity participation, are the engineering contractors of the 220-megawatt solar power plant project in Minbu, Magway Region, Myanmar. Darwin G. Amojelar

CYAN MAGENTA YELLOW BLACK Manila

Standard

World

TODAY

SATURDAY, APRIL 27, 2019 CESAR BARRIOQUINTO, Editor mst.daydesk@gmail.com

Suicide bomb leader cast a shadow of fear in town

IN BRIEF Huawei scandal rocks UK government LONDON―Britain’s splintered government was rocked Friday by a growing scandal over who leaked news that Prime Minister Theresa May has conditionally allowed Chinese giant Huawei to develop the UK 5G network. The highly controversial decision was reportedly made at a meeting on Tuesday of Britain’s National Security Council despite opposition from some ministers who are seen as potential candidates to replace May. National Security Council discussions are only attended by senior ministers and security officials who first sign the Official Secrets Act that commits them to keep all conversations private or risk prosecution. But The Telegraph newspaper broke the news late Tuesday that May approved granting Huawei permission to build up “non-core” elements of Britain’s next-generation telecommunications network. The United States is adamantly opposed to Huawei’s involvement because of the firm’s obligation under Chinese law to help its home government if asked, including in intelligence matters. British media reported that Cabinet Secretary Sir Mark Sedwill—the country’s most senior civil servant—gave those present an ultimatum until Thursday afternoon to deny responsibility for the leak. Foreign Secretary Jeremy Hunt and Defense Secretary Gavin Williamson did so first. Hunt called it “utterly appalling” and Williams described it as “completely unacceptable”. They were soon joined by interior minister Sajid Javid—who like Hunt is one of the front runners to succeed May as Conservative Party leader—and at least one other attending cabinet member. May herself said Thursday that she does not comment on National Security Council meetings. Sky News reported Friday that the ongoing government inquiry into the source of the leak could become a formal criminal investigation. Former cabinet secretary Gus O’Donnell told BBC radio that the disclosure of National Security Council information was “incredibly serious” and a “complete outrage.” “This is really important for the country, these issues are massively important,” he said. May’s government has been experiencing strains for months. Disputes over Britain’s stalled withdrawal from the European Union have seen several ministers resign. May herself has promised to step down as soon as she gets the first stage of Brexit over the line. The new extended deadline for the process is now October 31. Her commitment to quit has only fomented cabinet rivalries as various ministers jockey for position in a looming leadership race. May’s spokesman said Wednesday that a formal decision on Huawei would be made by June. AFP

SAS strike strands 70,000 passengers STOCKHOLM―Pilots at the Scandinavian carrier SAS walked off the job in Sweden, Denmark and Norway early Friday, stranding 70,000 travelers as more than 300 flights were canceled, the airline said. Domestic, European and long-haul flights were all affected by the strike, it said, predicting that a total of 170,000 passengers would be affected through Sunday. The Swedish Air Line Pilots Association, which initiated the strike, said months of negotiations had failed to find a solution to pilots’ “deteriorating work conditions, unpredictable work schedules and job insecurity.” The Swedish Confederation of Transport Enterprises said meanwhile it could not accept the 13-percent wage increase demanded by pilots, given their “already high average wage of 93,000 kronor (8,766 euros, $9,769) a month”. The pilots’ association said work schedules, and not wages, were the main focus of the negotiations, as most SAS pilots have variable work schedules. “Many SAS pilots have no control over when and how long they have to work. In a worst case scenario, they risk having to work seven weekends in a row,” the pilots’ association said in a statement. “Everyone who has a family life can imagine how difficult it is to not know when you have to work,” SAS’ Swedish union representative at the pilots’ association, Wilhelm Tersmeden, said. AFP

A PEACEFUL DAY. In this picture taken on April 25, 2019, Sri Lankan Muslim women walk with a girl along a road in Kattankudy. Zahran Hashim's sword-wielding zealotry fueled fears in the sleepy east coast town of Kattankudy long before the cleric became Sri Lanka's most wanted man over the horrific Easter Sunday suicide attacks. The country's president announced on April 26 that Hashim led and died in the attack on the ShangriLa hotel in Colombo—one of three hotels and three churches hit by bombers wearing explosive backpacks. AFP

A million species risk extinction due to man P ARIS―Up to one million species face extinction due to human influence, according to a draft UN report obtained by AFP that painstakingly catalogs how humanity has undermined the natural resources upon which its very survival depends. The accelerating loss of clean air, drinkable water, CO2-absorbing forests, pollinating insects, proteinrich fish and storm-blocking mangroves―to name but a few of the dwindling services rendered by Nature―poses no less of a threat than climate change, says the report, set to be unveiled on May 6. Indeed, biodiversity loss and global warming are closely linked, according to the 44-page Summary for Policy Makers, which distills a 1,800-page UN assessment of scientific literature on the state of Nature. Delegates from 130 nations meeting in Paris from April 29 will vet the executive summary line-by-line. Wording may change, but figures lifted from the underlying report cannot be altered.

“We need to recognize that climate change and loss of Nature are equally important, not just for the environment, but as development and economic issues as well,” Robert Watson, chair of the UN-mandated body that compiled the report, told AFP, without divulging its findings. “The way we produce our food and energy is undermining the regulating services that we get from Nature,” he said, adding that only “transformative change” can stem the damage. Deforestation and agriculture, including livestock production, account for about a quarter of greenhouse gas emissions, and have wreaked havoc on natural ecosystems as well. The Intergovernmental SciencePolicy Platform on Biodiversity and Ecosystem Ser-

vices (IPBES) report warns of “an imminent rapid acceleration in the global rate of species extinction.” The pace of loss “is already tens to hundreds of times higher than it has been, on average, over the last 10 million years,” it notes. “Half-a-million to a million species are projected to be threatened with extinction, many within decades.” Many experts think a so-called “mass extinction event”—only the sixth in the last half-billion years— is already under way. The most recent saw the end of the Cretaceous period some 66 million years ago, when a 10-kilometre-wide asteroid strike wiped out most lifeforms. Scientists estimate that Earth is today home to some eight million distinct species, a majority of them insects. A quarter of catalogued animal and plant species are already being crowded, eaten or poisoned out of existence. AFP

Republic of the Philippines Province of Ilocos Sur Local Government Unit Santiago Ilocos Sur

MEETING. New Zealand Prime Minister Jacinda Ardern meets members of the Muslim community at the Al Noor Mosque prior to an event organized for Britain's Prince William in Christchurch on April 26, 2019. Prince William is on a two-day visit to New Zealand to show his support for Christchurch after the recent mosque attacks that claimed 50 lives. AFP

INVITATION TO BID

The Municipality of Santiago, Ilocos Sur through its Bids and Awards Committee (BAC), invites contractors registered with and classified by the Philippine contractors Accreditation Board (PCAB) to apply for eligibility and if found eligible to bid for the hereunder contract: 1. Name of Project Location Brief Description Approved Budget for the Contract (ABC) Source of Fund Contract Duration Cost of Bid Documents

: : :

Opening of Farm to Market Road Olo-olo Sur-Salincub, Santiago, Ilocos Sur Road Opening / Constn.

: : : :

18,488,255.00 RA 7171 120 CD 25,000.00

The BAC will conduct the procurement process in accordance with the Revised IRR of RA 9184. Bids received in excess of the BAC shall be automatically rejected at the opening of bid. To bid for this contract, a contractor must submit a Letter of Intent (LOI), purchase bid documents and must meet the following major criteria) prior registration with Local Government Unit-Santiago, Ilocos Sur (b) Filipino citizen or 75% Filipino-owned partnership, corporation, cooperative, or joint venture, (c) with PCAB License applicable to the type and cost of this contract, (d) completion of a similar contract costing at least 50% of ABC within a period of 10 years, and (e) Net Financial Contracting Capacity at least equal to ABC, or credit line commitment for at least 10% of ABC. The BAC will use non-discretionary pass/fail criteria in the eligibility check and preliminary examination of bids.

Russian ‘agent’ Butina faces sentencing in US WASHINGTON―Alleged Russian agent Maria Butina faces sentencing in Washington Friday over her open effort to build a network of high-level Republican contacts via ties to the NRA gun lobby. While prosecutors have asked for 18 months in prison for the 30-year-old Siberian redhead, she could be deported immediately, after already spending nine months in a US jail. A key variable, analysts say, could be how her case is linked to Russia’s recent arrest of American former Marine Paul Whelan on spying charges. The Justice Department alleged that although she lacks ties to Moscow’s espionage agencies, Butina was part of a broad Russian plot to infiltrate and disrupt US politics—which included meddling in the 2016 election. But Butina argued that her five-year effort building a network with Republicans—bringing her into contact with President Donald Trump in 2015was no more than a private endeavor to build US-Russian friendship. Moscow says she is the victim of a witch

KATTANKUDY, Sri Lanka―Zahran Hashim’s sword-wielding zealotry fuelled fears in the sleepy east coast town of Kattankudy long before the cleric became Sri Lanka’s most wanted man over the horrific Easter Sunday suicide attacks. The country’s president announced Friday that Hashim led and died in the attack on the Shangri-La hotel in Colombo—one of three hotels and three churches hit by bombers wearing explosive backpacks. The round-faced preacher headed the extremist Muslim group blamed for the bombings which left more than 250 dead. He featured in a video released by the Islamic State group when it claimed responsibility. Heavy security surrounded the main mosque in the Muslim-majority town of Kattankudy, where religious leaders say they sounded the alarm about Hashim years ago, beginning with his expulsion from a seminary during his teens. “It was the first time a student has been expelled for being a hardliner,” said Mohammed Buhary Mohammed Fahim, a senior official at the Jamiathul Falah seminary who was a younger contemporary of Hashim’s at the school. “When he arrived here at the age of 12, he was clearly very intelligent, very studious, and asked lots of questions. He was popular and sociable,” Fahim told AFP. But things began to change as Hashim grew older, with Fahim blaming his exposure to books and CDs extolling a fundamentalist vision of Islam. “He basically went off-course... We teach moderate Islam here but he was a hardliner.” When Hashim sought to influence his fellow students, parents complained to the seminary chiefs and the school asked him to leave. After a few years away he returned to Kattankudy, founded the National Thowheeth Jama’ath (NTJ) group, and worked with some former classmates to build a mosque where he could preach and share his rabble-rousing sermons. “He was a good orator... he would pick and choose words from the Koran and twist and misuse them”, one official at a local mosque told AFP. He spoke on condition of anonymity, saying he was terrified of reprisals from Hashim’s followers. “These are very violent people. If they know who I am, they can just shoot me in the street,” he said. Hashim’s violent streak attracted police attention three years ago when he brandished a sword during clashes with members of another Muslim organisation, the official said. AFP

hunt and for months the Foreign Ministry has placed her picture at the top of its social media accounts, saying “Free Maria Butina.” Butina is the only Russian to have been arrested during the sprawling, nearly three-year investigation into meddling in the 2016 election. She pleaded guilty last year to one count of conspiracy to act as an agent of a foreign government without notifying the US government—a charge US prosecutors call “espionage-lite.” Her case appears completely unrelated to the Russian election interference that Special Counsel Robert Mueller documented in his report last week on the investigation, and none of her American contacts have been accused of anything. The leader of a small Russian gun rights group supported by Kremlin politician Alexander Torshin, she began in 2013 to establish contacts with the National Rifle Association, one of the most powerful US political lobbies and strongly tied to the Republican Party.

AUCTION SALE ACME PAWNSHOP 1st Level Glorietta 3 Ayala, Makati and its branches in Majalco Bldg., Buenavidez St., Legaspi Village, Makati and L & R Bldg., Pasay Road, Makati auction sale on May 05, 2019, 3:00 pm Alabang Town Center, Alabang Zapote Road, MJ Holding Bldg., Almanza Las Piñas, Circle C G14, #17 Congressional Ave., Bahay Toro D1, Quezon City at 9:30 am. All items pawned February 1, to December 31, 2018. Notary Public (MS-APR. 27, 2019)

NOTICE TO THE PUBLIC BE IT KNOWN THAT AJ RIANO CONSTRUCTION AND EQUIPMENT RENTAL CORP. represented by its President, JOSE R. RIANO with office address at #10 Martin St. Carmen Subd. Bahay Toro, Project 6, Q.C. has changed its corporate name and is now TRISON CONSTRUCTION, EQUIPMENT RENTALS AND TRADING CORP. as per SEC approval dated October 11, 2018. (MS-APR. 27, 2019)

NOTICE TO THE PUBLIC BE IT KNOWN THAT C.S. GARCIA CONSTRUCTION owned by CRISANTO S. GARCIA with address at #23 Pelayo St. BF Homes, Quezon City has changed its ownership from single proprietorship to corporation on July 4, 2016 and is now C.S. GARCIA CONSTRUCTION CORPORATION. (MS-APR. 27, 2019)

NOTICE TO THE PUBLIC BE IT KNOWN THAT T.M. ABAD CONSTRUCTION owned by TEODORA M. ABAD with address at #34 Mt. Fuji St. Filinvest 1 Subd. Batasan Hills, Quezon City has changed its ownership from single proprietorship to corporation on August 20, 2018 and is now TM ABAD CONSTRUCTION CORP. (MS-APR. 27, 2019)

Unregistered contractors, however, shall submit their applications for registration to the Local Government Unit-Santiago, Ilocos Sur before the deadline for the receipt of LOI. The Local Government Unit-Santiago, Ilocos Sur will only process contractor’s applications for registration, with complete requirements, and issue the Contractor’s Certificate of Registration (CRC). The schedule of BAC activities is as follows: BAC Activities

Schedule

1. Advertisement/Posting of Invitation to bid/ Request for Expression of Interest

17-Apr-19

2. Issuance of Bid Documents

Apr. 17 to May 14, 2019 @ 8:00AM TO 5:00PM M-F except holidays

3. Pre Bid Conference

May 2, 2019@ 10:00 AM

4. Receipt and Opening of Bids

May 14, 2019 @ 10:00 AM

The BAC will issue hard copies of Bidding Documents (BD’s) at Local Government Unit-Santiago, Ilocos Sur, upon payment of a non-refundable fee as stated. The Pre-bid Conference shall be open only to interested parties who have purchased the BD’s. Bids must be accompanied by a bid security, in the amount and acceptable form, as stated in Section 27.2 of the Revised IRR. Mailed intends shall not be entertained. Prospective bidders shall submit their duly accomplished forms as specified in the BD’s in two (2) separate sealed bid envelopes to the BAC Chairman. The first envelope shall contain the technical component of the bid, which shall include the technical component of the bid, which shall include a copy of the CRC. The second envelope shall contain the financial component of the bid. Contract will be awarded to the Lowest Calculated Responsive Bid as determined in the bid evaluation and the post-qualification. The Local Government Unit of Santiago, Ilocos Sur reserves the right to accept or reject any or all bid and to annul the bidding process any time before Contract award, without incurring any liability to the affected bidders. Approved by:

(MS-APR. 27, 2019)

(SGD.) NESTOR C. PERALTA JR. BAC Chairman

CYAN MAGENTA YELLOW BLACK

SATURDAY, APRIL 27, 2019

Joel D. Lacsamana, Editor jdlacsamana@gmail.com

HE De La Salle-College of Saint Benilde (DLS-CSB) will open next month the Peter D. Garuccho Jr. Innovation Institute (PDGii) along Pablo Ocampo street, Malate, Manila.

Hub for curious minds, creative solvers to set shop in Manila

The four-storey building will house the college’s ‘Hub of Innovation For Inclusion (HiFi)’, and will serve as a business incubator for startups in the school. The project is a partnership of the college with Peter D. Garrucho Jr., vice chairman of Franklin Baker company of the Philippines. “Many have asked, what an Institute of Innovation is meant to do. I didn’t know then and I know a bit more now, and I still have a ways to go,” Garrucho explained. “Let me say that my contribution will not end with the

payment of the check. I plan to continue to help with my network of experienced friends and businessmen, my many suggestions, and overall support.” Incubating “desirable, viable, feasible” schemes Designed by Javier Design Studios Manila, and built by Gain Construction and Development Corporation, the Institute hopes to incubates the scheme of innovations that are desirable, viable and feasible. The facade is covered in glass louvres that reducing the need for power hungry electrical air-conditioning.

The property also features solar panels which may provide for 100 percent of the lighting. The lobby, also called the empathy hall, offers a common ground that is open to the public. It has a space for dialogue, presentations, public talks, meetings and film screenings. The second floor dubbed the bright space, which contains the main office of HiFi and features function halls for social startups, aims to encourage collaboration. It has two huddle rooms and one conference room. The third floor is the maker space

with rooms for startups. It has a workshop area that is equipped with basic maker space tools like threedimensional (3D) printers, and a training room to support in prototype development. There are also movable display walls which can be used for exhibits and presentations. The roofdeck doubles as the breathing space, garden, and event hall which allows members to share relaxed conversations, reﬂect, synthesize ideas. The overall motif of the building is PWD-friendly and will embody the ideals and objectives of innovation,

collaboration and community improvement. It will provide accessible and affordable assembly spaces to both new and old innovators. “To solve challenges, HiFi acknowledges that schools need to connect and collaborate with individuals and organizations from different sectors, locally and internationally,” explained HiFi director Abigail Mapua-Cabanilla. “HiFi brings together under its roof a cross-pollination of various disciplinary ﬁelds, industries, public and private organizations to partner in championing innovative solutions.”

New passenger terminal at Clark safe

THE new passenger terminal building of the Clark International Airport (CIA) suffered no damage to its structure and temporary works following the magnitude 6.1 earthquake that hit Luzon Tuesday. This was announced this week by Megawide GMR which conducted a thorough inspection of the CIA’s new terminal project site in Pampanga province to assess any damage caused by the earthquake. Airlines canceled flights to and from Clark on Tuesday and Wednesday as the facility underwent repairs, but resumed local and international flight operations on Thursday. “We are glad to report that the project site has been found safe and work has already resumed for the day,” a statement from Megawide-GMR said. “As of today, construction is already 59% complete.” The new passenger terminal (seen here) is anticipated to increase capacity at Clark Airport, which is significantly underutilized, from four million passengers per year to 12 million passengers annually by 2020. The Duterte administration has committed to expand Clark Airport, which is being positioned as an alternative to the congested Ninoy Aquino International Airport (Naia) in Manila.

FUTURE WORK SPACES, REIMAGINED. Samsung recently partnered with United Architects of the Philippines (UAP) District B3, the integrated and accredited organization for industry professionals. Enter ArchiFuture, a design competition that challenges participants to reimagine a future workplace with the use of Samsung 360 cassette. One of the main criteria was to highlight Samsung 360 cassette’s modern design and superior performance in terms of cooling and energy efficiency. Divided into two categories (office lobby and restaurant), the competition demonstrated how the Samsung 360 Cassette can be applied to work in different design concepts. Camille Ann Ponciano won for the office lobby category (Seen here), while Luis Albert De Jesus took home the gold for restaurant. Samsung 360 Cassette is the world’s first true circular cassette, which can seamlessly blend with any interior space. It also features a unique bladeless design to provide cold-draft free air conditioning. This reduces hot and cold spots providing users with ultimate comfort. PICC GOES SOLAR. The Philippine International

HARDY TESTAMENT TO SOLID BUILDING. James Hardie Philippines recently held its first ever partners night at Shangri-La at the Fort, BGC. Property developers and contractors were cited for outstanding collaboration projects with James Hardie from the previous year. Among these were Vista Land and Makati Development Corporation, awardees for the developer and contractor category, respectively. The former also received the highest growth award from the developers category, and was joined by Makati Cover All & Interiors, “This gathering aims to recognize key partners as well as share distribution and technological developments in the business, helping partners address the country’s growing building construction needs,” explained James Hardie Philippines general Manager, Bernard Salud (Shown here with his sales, marketing and technical team).

Convention Center (PICC) recently launched its solar photovoltaic system. The Solar PV Rooftop facility (shown here) was built in collaboration with the PNOC Renewables Corporation, as part of its energy efficiency program for government agencies in support of the Renewable Energy Act of 2008. The project is PICC’s first foray into sustainable and renewable energy. Prior to its launch, the center pursued efforts to minimize its environmental impact, with various initiatives covering energy efficiency, water conservation, and waste management. It is the largest solar PV facility that the PNOC RC has installed, with a capacity to produce 1,200,000 kWh of electricity annually and provide clean energy for PICC. This facility could likewise offset at least 1,000 metric tons of carbon emissions from fossil fuel energy sources. “The Solar PV rooftop facility further strengthens our commitment to environmental awareness and protection,” said Atty. Renato B. Padilla, general manager of the PICC.

Bernadette Lunas, Issue Editor manilastandardlife@gmail.com @manilastandardlife @MStandardLIFE SATURDAY, APRIL 27, 2019

Breaking

THE GLASS CEILING

Life YOUNG LIFE

VERY second in every day, there is a woman breaking through the glass ceiling—dominating a ﬁeld once thought to be only for men, and shining in the process.

Emilyn Saren, Marian Binalla, and Armida Matibag are examples of Filipinas who break gender stereotypes by entering in male-dominated industries. Through the partnership of Ariel Philippines with the Technical Education and Skills Development Authority Women’s Center, they went through the intensive program of night classes, which allowed them to hone their skills in areas such as Shielded Metal Arc Welding, Plumbing, Automotive Servicing, as well as Electrical Installation and Maintenance. As expected, their journeys were not easy. As trailblazers, the three women experienced some skepticism from their male colleagues, especially when they were just starting out, but they did not let this faze them. Saren, Binalla, and Matibag realized that being a female in a male-dominated field is not a disadvantage, especially when one has the right skills, a positive attitude, and determination to succeed. “May mga panahon din na nawalan ako ng tiwala sa sarili ko tapos iniisip ko kung paano ko malalagpasan yung mga pagsubok at kung kaya ko ba kasi lahat sila lalaki (There were times when I didn’t believe in myself, wondering how I could overcome the challenges and if I could [do the job] since they’re all men),” related Saren. She continued, “Napakahirap talaga pero nung katagalan, naging ok din. Maayos yung management at ino-orient talaga yung mga trabahador at sinasabi na kailangan respetuhin ang mga babae... dahil ang tipikal na trabaho ng lalaki ay nakakayanan nila. (It was difficult, but after a while things turned out ok. The management has been helpful, they remind all employees to respect women... especially because they can do jobs typically done by men).” In facing challenges in the workplace, persistence is necessary. Matibag shared “Sa una, hindi naging madali ang pagtrabaho sa isang construction site lalo na sa isang katulad kong babae. Minsan, hindi naiiwasan na may nambu-bully at nangangantyaw kasabay ng mabibigat na tasking, pero kinaya ko naman lahat ng iyon. Ginawa kong motivation ang mga

Emilyn Saren, a woman and a plumber.

Armida Matibag, a woman and a skilled electrician.

challenges na iyon upang lalo ko pang paghusayin ang aking trahaho at mapatunayang kaya ko.” (At first, it wasn’t easy working in a construction site especially for a woman like me. Sometimes, there were bullying and teasing on top of difficult tasking, but I was able to overcome them. I turned those challenges into motivation to be better at my job and to prove myself.) The women all acknowledge how the training they received from TESDA has helped them in their respective careers. To date, the training program of TESDA in partnership with Ariel Ahon Pinay has produced 60 graduates of highly skilled Filipinas who are ready to shine in the workplace. Saren related, “Noong hindi pa po ako nakakapag-TESDA, wala akong tiwala sa sarili ko, kumbaga walang pagasa magkatrabaho. Noong nag-TESDA na po ako, naisip ko ‘makakagraduate na ko, mabubuhay ko yung anak ko’. Pwede na rin akong mangibang bansa, at may pag-asa na magkaroon ng maayos na sahod at trabaho.” (Before I enrolled in TESDA, I didn’t have confidence in myself, that I could find a job. But after TESDA, I thought to myself, ‘I can finally graduate, I will be able to provide for my child.’ I can now work abroad, and I have a chance to get a stable job and earn better.) For Ariel, the success of these three women shows that gender equality can be realized. “P&G is a staunch supporter of gender equality. We believe in empowering women to reach their full potential by helping break barriers that exist in society, particularly in the workplace. We know that there is nothing that women cannot achieve, and Ariel embraces its role in ensuring that women receive the right training and support to be whatever they want to be,” said Louie Morante, regional brand communications at P&G Asia Fabric Care. TESDA’s director general Sec. Guiling A. Mamondiong agreed. “We have seen that women can shine in fields that many have always thought were only for men.”

Ariel Ahon Pinay and TESDA’s training program has already produced 60 highly skilled Filipina graduates.

Cinco de Mayhem music festival features local music stars, including James Reid, Nadine Lustre, and Careless Music Manila DJs, among others.

JaDine, Careless Music Manila headline Cinco de Mayhem festival

PROMEDIA Productions brings a unique musical experience with the firstever Cinco de Mayhem music festival. A first of its kind, CDM brings together top local artists and DJs in a vibrant and festive celebration of music, youthful spirit, community, and life at the Vista Mall Daang Hari Open Grounds this coming Cinco de Mayo weekend, May 4. The brainchild of actor and host turned musician Alexander Diaz, the music festival mixes the richness of Mexican culture and the unrelenting spirit during Cinco de Mayo. “I’ve always been passionate about good music and a good party, and Cinco de Mayhem combines just that. Not

only are we bringing the festivity of Cinco de Mayo in the Philippines, but we are elevating it by ushering in topnotch Filipino talent with our line-up of game-changing musicians,” shared Diaz, the festival creative director. Headlinining the event are James Reid and Nadine Lustre, along with the rest of the Careless Music Manila crew: Astrokidd, Massiah, Kingwaw, and Curtismith. Joining the lineup of local acts are DJs Quest, Kiana Valenciano, Divine Smith, Euric, Deuce, and Nix Damn P. Ticket prices are P3,500 (VVIP), P2,000 (VIP), and P950 (Gen Ad). Go to www.cincodemayhem.com for more information.

Life

SATURDAY, APRIL 27, 2019 manilastandardlife@gmail.com

Home of student-athletes to soon rise

WIMMING pools, a gym for weight and endurance drills, other physical therapy clinics, and studios and training rooms for taekwondo and other martial arts form part of the soon-torise Sports-Dorm Building of the De La Salle-College of Saint Benilde.

The five-story structure, due to be completed in August, will support the growing student population of the college. It will serve as the dormitory for the college’s athletes and scholars, to facilitate easier and more convenient academic and extra-curricular lifestyles. “The Sports-Dorm Building will serve as a sports center that can be called Home of the Blazers. It will be convenient for the athletes. They will not need to travel early in the morning from their respective homes for training,” enthused Stephen Fernandez, director of the college’s Center for Sports Development. “Once done, they can easily return back to their living quarters within the building to prepare for school in one of our three campuses.” “Most importantly,” Fernandez stressed, “it has sports facilities that are in accordance with international standards.” In addition to scholars and athletes, there will be temporary accommodations for visiting guests such as professors, lecturers, and exchange students from prior and future partnerships with other colleges, universities, nongovernment organizations, and private corporations. The Sports-Dorm Building likewise introduces an inclusive approach for persons with disabilities.

The Sports-Dorm Building’s multi-sport court follows international standards.

Student-athletes can train at the dorm’s swimming pool facility.

The building provides Benilde students a conducive living space.

The soon-to-rise dorm will have a fully equipped weights room.

The building was designed by inter- and Associates, and constructed by ered the tropical country’s climate to The Sports-Dorm Building is locatnationally recognized Architect Lean- advance engineering technology pio- ensure proper ventilation and natural ed at 307 San Isidro Drive, Dominga dro A. Poco of L.A. Poco Architects neer DM Consunji Inc. Both consid- lighting. Street, Pasay City.

Miss Teen Philippines 2019 pre-qualifying winners from CALABARZON.

On-demand logistics company Lalamove offers services that allow app users to enjoy summer without suffering the scorching heat.

How to enjoy summer at home

IT’S great to be out this season, but when the days are extremely hot, it’s best to stay at home. Understanding that life goes on, regardless of the temperature, on-demand logistics company Lalamove offers these tips on how to enjoy summer without suffering the scorching heat. Use Lalamove’s Purchase Service With the heat index reaching up to 39

degrees celsius, many will definitely have a craving for a refreshing drink or a tub of ice cream. Lalamove partner riders can take care of that while customers binge-watch their favorite series at home. Take advantage of the Queueing Service - Those who need to pay bills, make bank deposits, or buy concert or movie tickets can do so without break-

ing a sweat by using the app’s Queueing Service. Lalamove drivers will line up in an establishment to complete a delivery or payment service for the customer. Bring summer to you - Can’t travel and bum on the beach? Bring the beach to you! Those who have a spacious backyard can set up an inflatable pool, item that can fit into Lalamove riders’ four-wheel vehicles.

Miss Teen PH ‘19 highlights Pinoy youth’s global readiness AFTER a four-year hiatus, Miss Teen Philippines returns this year, highlighting the Filipino youth’s “global readiness through education.” Thirty-two teen candidates from all over the country will vie for the crown on May 8 at the New Frontier Theater in Araneta Center Cubao, Quezon City. More than just a beauty search, the pageant will serve as a platform for the eventual winner to become a youth ambassador. She will then promote the importance of education by empowering the new generation in the global arena. “We are looking for an exceptional winner who is not just a pretty face, but must also be at the forefront in promoting our cause and be a role model among her peers,” said Youth Empowerment Through Education Foundation Inc. director Regine Angeles. From National Capital Region, the pre-qualifying winners are Allison Pineda, Treisha Rovero, Bea Bianca Racelis, Aira Mae Gloria, Sarah Joffe, and Princess Kein Guanzon.

Meanwhile, Luzon has 11 candidates, namely Mikki Angela Barcela, Thiara Maria San Pablo, Leizl Anne Iñigo, Ivy Padilla, Erin Esquivel, Riza Carrillo, Samantha Pagar, Frenzel Lapus, Maria Czarina Bojos, Gianne Pearl Leuterio, and Myrna Esguerra. Visayas is sending Regine Claude Romero, Patricia Lynn Beerda, Joanna Kalkaschmidt, Leigh Chanelle Ong, Karla Marie Niere, Kaylah Sanchez, Olive May Sophia Bihag, Nicole Borromeo, and Kaye Rollins to the pageant. Finally, Mindanao has six candidates, namely Kamyll Migueyl Pla, Francine Georgina Gamboa, Nikki Advincula Moura, Heart Jastine Celo, Jamayla Diane Ampis, and Kayshia Joana Mandoga. The winner will take home P300,000 cash prize. The first runner-up will receive P200,000, while Miss Teen Philippines—Luzon, Visayas, and Mindanao will each get P100,000. The coronation night will be aired in ABSCBN on May 19 at 10:30 p.m.

Delegates to the first ASEAN Convergence Secondary Schools Summit

ASEAN students converge in a summit

THE first ASEAN Convergence Secondary Schools Summit held recently at Lima Park Hotel in Batangas, convened secondary schools from Indonesia, Malaysia, Singapore, and the Philippines to collaborate, interact, and realize the important role the the region’s youth. Organized by Faith Colleges, the three-day summit promoted ASEAN collaboration and regional mindset. The program was supported by the Department of Foreign Affairs and the

embassies of ASEAN member states. Schools that attended the summit’s inaugural run were SMP Negeri 6 Makassar of Indonesia, Sekolah Menengah Kebangsaan Guar Perahu of Malaysia, Raffles Institution of Singapore and, from the Philippines: Lyceum of the Philippines University-Batangas, Miriam College-Nuvali, University of Perpetual Help System Laguna, FAITH Catholic School, and Fidelis Senior High School.

Among the speakers were Assistant Director Romeo Arca Jr. of the ASEAN Secretariat, Director Aian Caringal of the DFA, Executive Director Jeroen Schedler of Passage to ASEAN (P2A), Teach for the Philippines founder Clarissa Delgado, Bellas Artes Projects founder Jam Acuzar, and Cropital founder Ruel Amparo, who discussed the role of the youth, how they can contribute to various international efforts, and what existing ASEAN projects they can join.

Central Luzon representatives to this year’s Miss Teen Philippines pageant.

SATURDAY, ARPIL 27, 2019

nickie.standard@gmail.com

Scandinavian film fest at SM Lanang Premier T

Awardwinning film 'Rosita,' the inaugural movie of the film festival, features Filipina actress Mercedes Cabral.

HE embassies of Denmark, Norway, and Sweden in Manila, in partnership with the SM Lanang Premier, SM Cinema, and the Film Development Council of the Philippines have come together for the very ﬁrst Scandinavian Film Festival in the Philippines. This will happen in Davao City from April 28 to May 3.

'A Holy Mess' is a Swedish comedy that explores modern families and their continual struggle to do things right.

This momentous film festival will feature over 30 contemporary films of different genres, offering Filipinos a glimpse of the Scandinavian culture and way of life. By reaching out to the Mindanao audience, the Scandinavian Film Festival leverages on the power of film to foster a deeper mutual understanding and dialogue between our cultures. The festival will showcase 23 full-length films from Denmark, Norway, and Sweden at SM Lanang Premier. Among the notable line-up of films that will be screened for the first time in Mindanao is the intimate triangle drama Rosita, featuring Mercedes Cabral. Rosita, which won Frederikke Aspock the Best Director Award at the Moscow International Film Festival in 2015, will be the festival’s inaugural film. The festival also features The Wave (2015), the Norwegian box office film about a geologist and his family’s fight for survival when a landslide causes a 250- foot tidal wave. The Wave received the award for Best Norwegian Film in Theatrical Release, as well as the awards for Best Sound Design and Best Visual Effects. “We are happy to be back in Davao with Danish films, this time joined by our Norwegian and Swedish brothers in our very first Scandinavian Film Festival,” says Danish AmbassadorJan Top Christensen. “It is very important for us to get out of Manila and engage with Filipinos all over,” the ambassador adds. Swedish Ambassador Harald Fries notes that “the Embassy of Sweden is very pleased with joining this film festival in Davao City. Through a variety of Scandinavian films, we want to bring the Davaoenos and the Scandinavian people closer together.” “We are excited to share our stories of laughter, suspense, and history through film,” adds Norwegian Ambassador to the Philippines Bjorn Jahnsen. “Everyone will find movies that would appeal to their personal tastes as we have carefully selected the best of Scandinavian cinema today.” All films will be screened for free on a first come, first served basis.

Based on Knut Hamsun's novel, 'Victoria' highlights young love, class differences, and success against all odds.

\IT IS a no brainer that some common folks and the not so ordinary ones have the time and resources to join the Avengers End Game bandwagon. The much-anticipated film is currently slaying the Philippine boxoffice. Most of the fanatics are ecstatic. If they finish their first viewing, all they need to do is move from cinemas 1 to 8, to the IMAX theatre and even to the more expensive and exclusive Director’s Club hub and they get their fix of the larger than life Marvel universe. With the rate things are going, factor in the positive-no-spoiler-reviews and the strength of the word-of-mouth campaigns, there is a chance that the final saga of the Avengers may stay in theaters, for six months I guess, especially here in Metro Manila. What I do not understand, most especially to those who are pretending to be dye-in-the-wool Marvel supporters, their

threats to spoilers, as if these are “fatal” and “blow them to smithereens!” For crying out loud, the majority of us grew up with Darna, Dyesebel, Captain Barbel, Lastikman or Flavio from Ang Panday. Please stop pretending that you grew up knowing the origins and legends behind the heroes in Avengers. What makes me wonder now, will forthcoming Filipino films get the same manner of support from the paying audience? If these soon to be shown Filipino films play poorly at the box office, who do we blame? Some of the movies that will be in cinemas soon are Maledictico, “its main story arc, about demonic possession with the best-looking priest in the world, which Tom Rodriguez portrays.Jasmine Curtis-Smith is the prettiest looking nun. Basing it on the trailer, she may be called as the Millennial Linda Blair, Miles Ocampo.

CROSSWORD PUZZLE Saturday, April 27, 2019

ACROSS 1 Baby elephant 5 Modern physics particle 10 Improve the road 14 Whitish gem 15 Less than 16 Writer — Haley 17 Strauss of jeans 18 Wed on the run 19 Ceremony 20 Tracy/Hepburn comedy (2 wds.) 22 Slogans 24 High heel 25 Thai language 26 Condo buyer, maybe 29 Courtroom figure 33 Like many classics 34 Prince Val’s eldest 35 Tried for office 36 Listless 37 Fellow 38 Argentine dance 40 Wimple sporter 41 Barge pusher 42 Weaker 43 Pistol or sword 46 Most drawnout

47 Biologist’s eggs 48 Beau 49 Adorned 52 In a deplorable manner 56 Limping along 57 Wipe out data 59 Lamb’s alias 60 Nefertiti’s god 61 Annoys 62 Dry up 63 Hockey feint 64 Dog-tired 65 Go sour DOWN 1 Soft drink choice 2 Imitated 3 Volcanic emission 4 Cheesier 5 Asked about 6 Different 7 Hacienda material 8 Salesperson, briefly 9 Politburo’s place 10 “9 to 5” actress 11 Got off the plane 12 Reject 13 Former spouses 21 Jack who ate no fat 23 Nose-bag mor-

sel 26 Archaeological sites 27 Lethargy 28 Gallup finding 29 Droll 30 Bilko’s name 31 Wise ones 32 Farm sound 34 Calendar abbr. 37 Stamp backing 38 Piano fixer 39 Huffiest 41 Merchants 42 Worst

44 Time of the mammals 45 Blvd. 46 Untie 48 Moby Dick, e.g. 49 Tall flower 50 Have lots of status 51 Out of control 53 Chicken cordon — 54 Fibber, plus 55 Kitten’s toy 58 Pull apart by force

Claudine makes TV comeback as adoptive mother in ‘MMK’ Claudine Barretto and Jameson Blake

YOUNG actor Jameson Blake will ﬁght to live to pursue his passion for dancing as he plays the PBB Star Dreamer and ABSCBN Star Hunt dance artist RJ Cunanan, whose life is challenged when he suffers from a rare neurological disorder. RJ (Jameson Blake) grows up in Brunei with his doting aunt and adoptive mother, Vivian, played by Claudine Baretto in her latest TV comeback. With Vivian’s full support, he pursues dancing and hones his craft when the two come home to the Philippines. Seeing how dedicated RJ is, Vivian pushes him to reach his goals. But while he begins to dream of being a professional dancer and well-known Dancesport competitor, RJ gets diagnosed with Guillain-Barré Syndrome (GBS), a rare neurological disorder which causes progressive paralysis, starting from the feet and progressing up throughout the

rest of the affected person’s body. RJ battles with the disease for almost a year and the two almost give up on their dreams. But Vivian sees RJ ﬁghting in spite of his physical limitations. Eight months later, RJ recovers from GBS and makes it to numerous local and international Dancesport competitions, which leads to a bittersweet reunion with his biological parents, Maya and Robert. Soon, the two try to take RJ back from Vivian because of his newfound glory. But RJ chooses to stay with Vivian, the only person he has considered to be his real family. Also in this episode are JJ Quilantang, Ces Quesada, John Bermundo, Art Guma, Regine Tolentino, Kathleen Hermosa, and CJ Jaravata. It is under the direction of Raz dela Torreand written by Mary Rose Colindres. Watch MMK tonight on ABS-CBN.

People...

livelihood projects for the poor as guided by TESDA. Embraced as a people person who will do everything in his capacity to alleviate the lives of people, he sees the utmost importance of giving Pasay residents a clean and free from all medical fees Pasay General Hospital. He likewise plans to put up two modern clinics in Districts 1 and 2. Eyeing to literally clean up the city, Togonon visualizes to strictly implement Republic Act 9003 or the Ecological Waste Management Act. He will order the cleaning and rehabilitation of esteros, canals and other waterways in the city. With running mate lawyer Jose Allan Mendez Tebelin for vice mayor, former Pasay City prosecutor Elmer Mitra for congressman, and a councilors ticket bound to actualize positive change, Togonon is positive that Pasay will soon move forward.

From C4

His dedication to work is recognized as he had been named Outstanding Prosecutor three times. Another among his remarkable accomplishments was the strengthening of the National Prosecution Service by rationalizing the ranking, salaries, and retirement of the country’s prosecutors through The National Prosecution Service Law or RA 10071. “Creating a change in Pasay should sound like a personal goal for a man who already retired from the Department of Justice and frees himself from such a big responsibility. But I still felt the urge to help get our city to a position where it should be,” he said. Job generation is also on Togonon’s agenda as well as peace and order, housing, seniors’ welfare, health care, and

Movies in our midst

'Maledicto' lead star Tom Rodriguez as exorcist Father Xavi

The question now is, the PR team of Maledicto, what kind of blitzkrieg are they using to make sure that moviegoers will invest their time and money in their movie which is coming on Labor Day? Will the average Juan, with their hard earned money, be willing to give part of their earnings to Maledictico? What about the new moneyed and the old rich? With the movie’s Fox presence and stamp of approval, will this titillate their cinematic taste? The movie Kuwaresma by Sharon Cuneta and Between Maybes by Gerald Anderson and Julia Baretto, will be pitted against John Wick 3 by Keanu Reeves at the box office in mid-May. The question is, how many movie houses will be accorded to the motion picture that stars Lord Reeves and how many will be given to the two Pinoy films? What’s the advantage of the Megastarled horror movie? It’s her first team up with John Arcilla, who happens to be one of our finest actors nowadays. It’s her first artistic collaboration with the director Erik Matti. And there’s a great newbie in the person of Kent Gonzales. The question of course: Are the PR specialists moving heaven and earth to make the populace believe Kuwaresma is a YOLO happening and it is an unpardonable sin if you miss it? What are the plus points of Between Maybes? Of course, the pair is fresh and there is a curiosity factor in the combination of Gerald Anderson and Julia Baretto. Word of mouth will definitely be encouraging if Mr. Anderson will have shower scene half naked. With Julia, if their pairing seems “odd” at first, the moment audiences feel that the sexual chemistry she shares with Gerald is palpable, and that her being the best young actress amongst her batch because she gives a heartfelt performance, it is safe to say that these facts will do wonder for the film, most especially its killing the box office potential. However, what we cannot deny, just like the Matrix trilogies where he is Neo, the hero, Keanu Reeves as John Wick, has become iconic, with a worldwide cult following. Its action sequences, are not just of epic proportions, are legendary executed. It also helps a lot that Reeves, remains eye candy and a heartthrob in his golden age. What happens now to the Filipino movies in our midst? Let us give it a fighting chance. Not just lip service but real warm bodies going to the cinemas and telling others to go out of their cocoons and watch them. Laban natin ito! Panoorin natin ang sariling atin!

Nickie Wang, Issue Editor nickie.standard@gmail.com

Entertainment

SATURDAY, ARPIL 27, 2019

Jennylyn, ‘Kara Mia’ cast in Iloilo FRESH from the pilot week of her latest primetime series Love You Two, Jennylyn Mercado is treating her Ilonggo fans today in a Kapuso Mall Show courtesy of GMA Regional TV. Joining Jennylyn in the Kapuso Mall Show in Vista Mall Iloilo are the stars of Kara Mia―Mika dela Cruz, Paul Salas, and Mike Tan. The afternoon treat begins at 4:00 p.m. Happening that day as well is the Iloilo leg of The Clash Auditions to be led by The Clash first runner-up Jong Madaliday. After the successful run of GMA Network’s singing competition last year, The Clash is opening its doors once more to singing hopefuls across the Philippines. The Iloilo leg will accommodate aspirants in Vista Mall beginning 9 a.m. The competition welcomes all male and female Filipinos, amateur and professional, 16 years old and above. Applicants need to bring the original and photocopy of their birth certificate and two recent photos (one 2x2 and one full body shot). They also need to prepare at least two songs (English and Filipino) for the audition with minus-1 audio or to be performed with musical instruments. The heart-warming romantic comedy series Love You Two premiered on GMA Telebabad last April 22 and sees the much awaited tandem of Jennylyn and soughtafter actor Gabby Concepcion. Jennylyn breathes life to Raffy, a successful career woman who will find her heart broken when her boyfriend Theo (Clint Bondad) leaves her behind for a career abroad.

Comedy Queen Ai-Ai delas Alas graces the silver screen via the upcoming comedy, 'Sons of Nanay Sabel.'

‘Kara Mia’ cast members Mika dela Cruz and Paul Salas

Meanwhile, viewers continue to get hooked on Kara Mia bannered by Barbie Forteza and Mika Dela Cruz. It tells the story of sisters Kara (Barbie) and Mia (Mika) who were born with Disprosopus or craniofacial duplication―a congenital defect where they have two faces but share only one body. But even if they are “one” person, the two sisters cannot be more different. Adding a dose of enchantment to the series is Mike Tan as Iswal, the mischievous engkanto who lives in the forest. Paul Salas plays the role of Chino, Boni’s (Jak Roberto) handsome and well-off cousin who will steal Kara’s heart.“We hope our Kapusong Ilonggo will continue to support us as we mount various events all over the country. Thank you for the unwavering love you give us and our Kapuso artists,” says GMA RTV Vice President and Head Oliver Amoroso.

Star-studded Aliwan Fiesta 2019

Tanging Ina back as

NANAY SABEL

ERHAPS, the most notable role, at least for the millennial batch of NICKIE moviegoers, that Ai-Ai Delas WANG Alas breathed life into was Ina Montecillo, the central character in the Tanging Ina movie series that raked in more than half-a-billion pesos at local tills.

6 Cycle Mind

Ai-Ai with beauty queen Kylie Versoza and members of Ex-Battalion

Juan Karlos

TOP music acts Christian Bautista, Jason Fernandez, Vin Abrenica, 6 Cycle Mind, Juan Karlos, Ben & Ben, This Band, and Extreme Lab were invited to provide live musical entertainment for this year’s Aliwan Fiesta celebrations that runs until today. Alternative band 6 Cycle Mind and Vin headline the awarding ceremonies following the grand parade and street dance showdown today, which opens with a grand production number featuring popular DJs Tanya Chinita, Ganda Wanda, and Lyka Barista. Solo acts Christian and Jason provided the exciting male complement to the Reyna ng Aliwan pageant last night, April 26. The other acts kickstarted this year’s festivities in the miniChristian Bautista

concert comprising the Pasakalye on April 25 during the opening night. Aliwan Fiesta 2019 is presented by Manila Broadcasting Company and Star City, in cooperation with the Cultural Center of the Philippines along with the cities of Manila and Pasay. For details, check out the Aliwan Fiesta ofﬁcial Facebook page, or log onto www. aliwanﬁesta.com.

The movie series made Ai-Ai firmly seated on the throne as the comedy queen, a moniker no other actress could steal from her unless someone from the new crop of comediennes would step up and exceed her success on the big screen doing the specific movie genre. Excluding the Enteng ng Ina Mo (2011), a Tanging Ina Mo crossover film, it took nine long years for Ai-Ai to play a similar role. But of course, “there’s a conscious effort to make the role different” from the iconic Ina Montecillo that appeared in three film installations. The 54-year-old comedienne is back on the big screen with her extraordinary “Motherly Love” that promises to tickle and touch the audience’s heart in Sons of Nanay Sabel. This time, Ai-Ai plays the role of a former bartender (Sabel) who was supposed to be married to a prince. Unfortunately, the prince found out about that Sabel was leaving her six children at an orphanage, so he decided to call their wedding off. Thereafter, Sabel decided to look for her sons and reunite her family once again. Her sons were left to the care of Sister Mary (Sheree), who kept all the details of Sabel’s kids’ foster families and handed it to her when she finally came back as she promised. Sabel’s sons are played by the members of the hit rap group Ex-Batallion. Bieber (Daryl) and Justin (Archie) were both adopted by a rich businessman and grew up with their Yaya Bona (Jon Santos)

who went with them when Sabel took back her two sons; Troll Montero (King Badger) was adopted by a barber; Baby James (James) AND EZ (Mark) were both adopted by an old lady named Lola Narcisa, and they only discovered that they were brothers when Sabel took them; Bhoy (Rhenn) was adopted by a couple who abused him and never loved him, that’s why Sabel forcefully took him from his foster parents. Sabel and her sons will experience the riot of living together for the first time and will form the family bond that Sabel has always dreamed of. But it will soon be tested when the beautiful and flirty Helen (Kylie Versoza) makes the brothers fall in love with her and fight for her. “Sons of Nanay Sabel is not Tanging Ina,” says director Dado Lumibao during the films press conference held recently, “In the film series, Ai-Ai was an extremely caring mother and would go out of her way to keep her family intact. The same thing cannot be said of Nancy Sabel. She’s an imperfect person. That’s the conscious effort to make this role really different from the previous role Ai-Ai played. Apart from the cast members’ crazy antics, the movie offers something new for the fans of Ex Batallion as they release their new tracks “Sama-Sama”, “Huwag Siya,”

and “Bagong Umaga” featuring Ai-Ai in the movie. Sons of Nanay Sabel is written by Mel Mendoza Del Rosario, the same writer who wrote the blockbuster trilogy of Tanging Ina. Presented by VIVA Films, the comedy feature opens nationwide on May 8. *** Empowering Pasay residents Among candidates running for mayor of Pasay City, Edward Togonon is a newbie. But a dark horse for the best of reasons. Thanks to his exemplary achievement as the city’s prosecutor for 14 years which validates his capability to improve the lives of many.A man of action with clear objectives, he is aiming to build a community where businesses and entertainment will ﬂourish. He wants to empower residents and provide tax incentives to entrepreneurs.“Big companies in a city should give priority to employing its locals. Why not make use of your manpower before looking elsewhere?” he was quoted as saying in a report. Togonon is running for mayor under the banner of the Partido Demokratiko Pilipino-Lakas ng Bayan (PDPLaban). He is doing so after having taken responsibility in leadership posts during his career: ﬁrst president of the Pasay City Prosecutors League; president of Chief Prosecutors Association, Inc.; two-time president of the National Prosecutors League of the Philippines; Chief Prosecutor of Muntinlupa; and Chief Prosecutor of Manila. Continued on C3