BusinessMirror October 14, 2015

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BusinessMirror E1 | Wednesday, October 14, 2015 Editor: Tet Andolong

NIGHT shot

OF SUSTAINABLE LIVING DIRT Weekend

estate development, has grown from 1,800 hectares in 2009 to its current 2,290 hectares. Estacio noted that there is a possibility the current size might expand in the future, if the opportunity arises.

Estacio said ALI made all the necessary steps to ensure Nuvali will be developed into a balanced environment by combining nature and manmade structures in the pursuit of sustainability and economic prosperity.

B R R R

UVALI, a master-planned mixed-use development that straddles the cities of Santa Rosa, Cabuyao and Calamba in Laguna, continues to deliver the promise of sustainable living to develop an ecologically sound environment.

Further, buying a property in Ayala Land Inc.’s (ALI) biggest eco-community also delivers lucrative returns for people who want to balance work and leisure manner. To broaden the community base, ALI added Amaia to the list of residential developments.

“Residential lots offered through Ayala Land Premier, Alveo and Avida ranges from P15,000 to P24,000 per square meter. Avida house and lots, with two- and three-bedroom configurations, vary between P4.7

Flourishing community

[million] to P6.3 million and are recommended for full-nesters,” said John Estacio, Nuvali general manager, in a recent media briefing held in Makati City.

“Amaia mid-rise condominium units are for the young professionals, as well as couples and young families, and are available with units ranging from 30 sq m to 75 sq m at P1.8M to P4.8M,” Estacio added.

Buoyed by the warm reception of the market, Nuvali, currently ALI’s largest

IN six years, Estacio reported Nuvali became a hot estate with 12,000 residential units, 85,000 sq m of gross leasable areas for retail and office spaces, and 150 hotel rooms.

Furthermore, Estacio mentioned two fully operational businessprocess outsourcing (BPO) buildings have become the source of the work force population that has grown to 4,000, and is expected to double in the next three to five years with the completion of the additional office buildings.

On the academic side, ALI ensured quality education will be offered in the estate. Estacio reported Xavier School and Miriam College, currently with a student population of 990, is expected to double every

year. In partnership with the Legionaries of Christ, Nuvali will be the home of the Everest Academy—the first international catholic school in the area.

In its objective to pursue and encourage a work-life balance, Estacio said Nuvali implemented approximately 50-percent balance between built and open areas, featuring a multifunctional lake, mountain bike and hiking trails, a wildlife and bird sanctuary and Camp N—Nuvali’s teambuilding and camping grounds.

In terms of accessibility, ALI has strategically positioned the estate easier to reach. A motorist has five options to reach Nuvali—via South Luzon Expressway through the Mamplasan, Santa Rosa, Eton-Greenfield, Silangan and Canlubang exits.

Moreover, Nuvali can also be accessed by public transport. Public buses ply to Nuvali from major centers, like Makati City, Bonifacio Global City and Balibago.

Riding high on the success

INVESTING in Nuvali has yielded positive results because it has the highest rate in land value appreciation. Estacio pointed out residential lot values rose from P9,500 to P20,000 per sq m, while commercial

space offerings experienced a huge upsurge from P20,000 sq m to P40,000 per sq m.

Estacio attributed two major factors to the significant appreciation of the Nuvali real estate.

“First is the strength of our value proposition that as Ayala Land’s largest eco-community, Nuvali was envisioned as a harmonious and creative space, where a lifestyle of responsibility and sustainability is well-balanced. Nuvali commits to this vision by integrating a mix of land uses and showcasing it through Ayala Land’s expertise in revolutionary sustainable development that allows for economic prosperity, community-building, and flourishing lives within an ecologically sound environment,” Estacio said.

“The second factor is the irresistible draw of Nuvali as a complete self-supporting estate. It has attracted professionals and families alike to its work, living and recreational spaces that are bundled in one complete package,” he added.

At the start of the development of Nuvali, ALI was laser-focused on implementing sustainability philosophy triggered by the increasing manifestations of climate change and development concerns in key urban areas.

Current developments

ESTACIO said ALI is vigorously pushing the development of the necessary facilities and infrastructure in Nuvali.

“Ayala Malls Solenad recently opened its third wing and by November, we are expected to open Solenad’s movie halls. Solenad is designed to meld harmoniously with the ecological features of Nuvali and, thus, features an outdoor theme; there are spacious walkways, pocket garden parks, bike lanes, and a fully featured playground that has unique glow-in-the-dark swings, all placed on attractive colorful rubber flooring,” Estacio said.

Meanwhile, S&R membership shopping will open its branch in Nuvali by mid-November of this year.

By December Nuvali will open its multipurpose outdoor and recreational facility called Camp N, which is similar to the facility at SandBox in Alviera in Porac, Pampanga. It will have a high and low rope obstacle courses, rappelling and climbing wall, camping grounds and Asia’s longest roller-coaster zipline.

To provide the health and medical needs in Nuvali, QualiMed Hospital is scheduled to be opened by the second quarter of 2016.

.M. Wenceslao & Associates Inc. (DMWAI), the Filipino-owned integrated property developer, has reached its 50th year of building not just structures and infrastructure, but more important, a better way of life for every Filipino.

The homegrown construction and real-estate giant marks this milestone year in the business, and is gearing up for another 50 years of helping build a nation —quite literally and figuratively.

DMWAI was founded in 1965 and has since survived the test of time, political upheavals, economic crises and seemingly insurmountable challenges, to become one of the most reliable property and construction companies in the Philippines today.

It has constructed countless of structures and infrastructure on thousands and thousands of square meter (sq m)—all of which still stand as firm and as strong as

the day they were built.

And it all began with one man’s vision.

“My father was a military engineer who had participated in the defense of Bataan. After leaving the military, he decided to put up his own construction company,” said Delfin J. Wenceslao Jr., chairman and president of DMWAI, as he shared the legacy of his father, the late Delfin M. Wenceslao.

Wenceslao Jr. said determination, passion and perseverance are among the values bequeathed by his father.

“One major challenge of construction is financial and technical issues, and if you don’t have the proper experience, you will surely encounter difficulties. The construction industry is tough and demanding,” he said.

But DMWAI has proven itself to be strong and stable, thus, it remained successful through the years, with a portfolio of big-ticket infrastructure endeavors,

counting the reclamation of the 225 hectare Central Business Park Island B & C, which includes Aseana City and Entertainment City, as one of its major project milestones.

“My father’s vision has left behind valuable landscapes and infrastructure built through five decades of hard work. DMWAI is proud of the lives it has changed through the decades,” Wenceslao Jr. said.

“Today the third generation of Wenceslaos are also working in the company,” said Delfin Angelo, the youngest son of Wenceslao Jr., who is the CEO and managing director. After graduating with a Masters of Science in Real Estate from the Massachusetts Institute of Technology, Delfin Angelo returned and spearheaded the property-development projects of the company in Aseana City.

“Together with the family, the employees have grown with the company, as well”, Delfin Angelo remarked.

Bigger projects on the way

TODAY D.M. Wenceslao is known as the developer and owner of Aseana City. Aseana City, one of the company’s current major projects, is considered another feather in their cap.

Located right in between Entertainment City in Parañaque and Mall of Asia in Pasay City, Aseana City, with a size of 107 hectares, is one of the most prime contiguous undeveloped land banks in Metro Manila, and is dubbed as the next major business, tourism and entertainment district in the capital.

“We created land from water. Aseana City is a major project for us. It’s one of the few projects where the government did not spend a single centavo, but has resulted in generation of billions of taxes for the government and further employment opportunities,” Delfin Angelo said.

The company has also lined up 10 projects that are seen to boost revenues

AERIAL view of Aseana

PROPERTY in the next five years. These include three residential developments with total gross saleable floor area of approximately 70,000 sq m and seven commercial and office developments with a total gross leasable floor area of 320,000 sq m.

Armed with 50 years of management experience and technical and project execution skills, DMWAI is gearing up for the next five decades as it commits to continue the vision started by its founding father—that of building structures

that last a lifetime.

“Built to last means we are responsible for the job we do. We have to make sure our structures are strong enough to sustain any damage and stable enough to service the requirements of our clients. Optimistically, I invite you to the next 50 years,” Wenceslao Jr. proudly shared.

Indeed, there is no stopping DMWAI as we expect to see more of this property giant’s brand rising in significant areas of the country.

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WEARABLES HAVE A WAYS TO GO Daily occurrences

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EAR God, our unending petitions are flooding You almost every day. We ask for solutions of our problems. We ask for practically all our basic needs. We ask and demand the request we make for friends to respond favorably. We storm heaven for our desires to happen instantly. But did we ever pause and see “the miracles of Providence are daily occurrences and they cease only when we lose our faith”? Help us see You in everything we do, think and say. May Your grace be part of our daily system in life. Amen.

SAINT LA SALLE’S MEDITATION AND LOUIE M. LACSON

Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life BusinessMirror

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D1

Wearables may be hot, but they’ve got a ways to go

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B O L. G Austin American-Statesman

EARABLES” over the last year or two has become one of those terms in technology that’s such a catch-all, it sometimes feels like it doesn’t mean much of anything. The simplest definition is technology that you wear on your body. That could mean a Fitbit activity tracker a jogger is wearing as they whoosh past you. If you’ve seen a commercial for the Apple Watch, you’ve seen a “wearable.”

But it’s also coming to include everything from Bluetooth-enabled jewelry to hearing aids to clothing with sensors built into the fabric (get ready for sweat-detecting bike shorts!), shoes with pedometers built-in, or even eyewear like the too-soon-for-the-masses product Google Glass.

Come to think of it, wouldn’t the Casio calculator watches of the 1980s count? And what about the megapowerful smartphones many of us have been carrying in our pockets since around 2007? The difference is the idea that this newer generation of wearables—smaller, less obtrusive, more integrated into our bodies and clothing—is taking off as its own category led by companies including Apple, Microsoft, Google and thousands of startups who’ve decided it’s the Age of Wearable Gadgets.

Tech forecasters are bullish on these products. The research firm IDC estimates 72.1 million wearable devices will ship in 2015, a sharp increase from 26.4 million last year. That includes Internet-connected smartwatches like the Apple Watch, but also basic fitness trackers that don’t do things like run apps or allow you to pay for coffee at Starbucks.

But it’s not all a story of wild success.

Apple has been gun-shy about revealing actual sales numbers of its Apple Watch, which received mixed reviews earlier this year as a Version 1.0 product that’s really not for everyone—particularly if you don’t own an iPhone.

And both smartwatches and fitness trackers are fighting the perception that they’re novelty items that people get tired of quickly, sticking them in a drawer after just a few months of use. In fact data released last year suggested just that; a third to a half of gadget buyers eventually ditch their fitness trackers or smartwatches.

With that all in mind, I showed up at a one-day conference in downtown Austin, Texas, called Rock Stars of Wearables recently. The first sign of trouble was that there were no guitars or pyrotechnics and that the first “rock star” I witnessed onstage was a business director in a suit from Qualcomm.

Odd branding aside, the day was a time for those in the industry to chart the exciting future of wearables, both inside and out. What I learned, shockingly, is that even those who are fully committed to making wearables a thing in our lives agree that they have a long way to go.

Battery life is an issue, especially with devices you’re meant to keep on all the time, such as the Apple Watch. Eyewear devices like Google Glass can face a social backlash if they’re viewed as a privacy violation by those around the person wearing them. Some devices that could potentially dispense medicine or be surgically implanted or swallowed— so-called “digestibles”—face FDA hurdles.

Jennifer Darmour of Chrono Therapeautics got to my biggest knock on wearables as I’ve seen them so far: They’re often clunky in form and function. And many companies making them don’t seem to be asking, “Who are these products for and what problem are you trying to solve?”

The era of sleek smartphones and wireless-speakers-as-furniture has made us less patient for wearables we’d never actual wear outside the house. “People want their products to be well-made and they want them to be beautiful,” Darmour said. “And I’m not talking about blinging out

PLDT/SMART EVP and Head of Consumer Business Group Ariel P. Fermin, Uber Regional GM for Southeast Asia and Australia, New Zealand Mike Brown and Voyager Innovations FVP and Group Head for Business Development and International Partnerships Stephen Misa.

PLDT HOME PARTNERS WITH UBER

THE market is still trying to figure out whether wearables are really our thing and whether we’re going to yield valuable real estate on our bodies to them. Shown here is the iBand Sling, which holds smartphones, keys, money, sunglasses and any portable tech you can fit into it, perfect for music festivals or a hike.

wearables. It’s understand who your audience is and being aesthetically beautiful to them.”

And if wearables are really going to succeed, they need better interfaces and to serve not as one more distracting screen to look at but as an invisible bridge to, say, controlling our home environment, keeping track of our fitness habits or interacting with the world around us.

Tom Emrich of the Canadian company We Are Wearables said it was less about making cyborgs with technology that eats away at our humanity than making superhumans who are augmented with technology that helps us live in the moment.

These devices, he said, “will be unfettered by screens and work side by side with us in the real world. They’ll allow us to reconnect to ourselves, reconnect to the world around us and even to a higher power.”

I almost got a lump in my throat when Emrich said, “They’ll allow us to become human again.” Then I remembered, “Wait, we’re already humans.” When did we give up on that idea?

My own experiment at Rock Stars of Wearables was a much-more low tech wearable I brought along from an Austin company called Runnur. The “iBand Sling” is a sash you wear across your body like a bandoleer—or, if you’re fancy, a pageant sash. It holds smartphones, keys, money, sunglasses and any portable tech you can fit into it, perfect for music festivals or a hike.

I thought I’d get lots of comments and feedback at the conference

iPHONE 6S BATTERY ISSUES ARISE

GERARD S. RAMOS

AS it turns out, it could be that no two iPhone 6ses are alike. It has been reported that two companies manufactured the A9 chip powering Apple’s new hotness: Samsung and Taiwan Semiconductor Manufacturing Co (TSMC). Of course, this fact would be a nonissue to most consumers, whose only concern really is if they would be able to tweet and post their selfies on Instagram on this smartphone or that for much of the day without having to recharge every so often. Then again, they ought to be: According to reports, the battery life on iPhone 6ses packing the A9 chip manufactured by Samsung is shorter than the TSMC iPhone 6s. How short is short?

Reports of tests have the Samsung iPhone 6s clocking in a battery life that’s two hours shorter than those running on the TSMC-manufactured A9 chip. Not surprisingly, Apple downplays the difference in a statement to the tech media: “Our testing and customer data show the actual battery life of the iPhone 6s and iPhone 6s Plus, even taking into account variable component differences, vary within just 2 percent to 3 percent of each other.” Sure, with everybody now carrying a power pack, this might be much ado about nothing, but still....

BECAUSE YOU’RE INTO PODCASTS

as I walked around wearing the iBand. No one mentioned it at all or acknowledged that I was wearing a thing that could carry all these wearables that everybody was talking about all day.

I spoke to Andrew Hamra, the owner of Runnur, who’s been selling the iBand Sling in different colors at handsfreecarryall.com, as well as a more corporate-focused line of products that can hold larger devices like iPads in a sling. If you’ve seen technicians or music festival workers toting tablets in a secure carrying harness, Hamra is likely behind it.

He calls the iBand Sling “Fanny Pack 2.0,” and don’t get him started on why he’d never wear a traditional fanny pack. (Spoiler: They’re not considered cool to wear.) Hamra, like the speakers at Rock Stars of Wearables, has for years been thinking about how we wear our gadgets and how those habits are changing. He thinks about how long it takes to pull an iPhone from a pair of skinny jeans; it should take less than two seconds, he believes. “Technology is the new gold,” Hamra says. “But the tool is not useful unless you can carry it with you.”

And it’s not useful if you can’t keep your hands free and if the wearable—be it a smartwatch or a Pancho Villa-like gadget strap across your chest—looks silly or stops being something you want to keep on your body on a regular basis.

That may be why a lot of us are still trying to figure out whether wearables are really our thing and whether we’re going to yield valuable real estate on our bodies to them. ■

GOOD news for iOS users who value podcasts as another platforms for news, information and entertainment.

Touted as one of the best podcasts apps on iOS, Overcast now allows you to indulge your podcast addiction without having to shell out the $4.99 that unlocks the app’s more robust features, Yes, the app is now available as a free download on the App Store, allowing everybody to enjoy such exceptional features as Smart Speed, which shortens silent moments; and Voice Boost, a voice equalizer—good stuff that once were enjoyed only by those who paid the toll fee. Even better, Overcast now includes podcast streaming, which should be a boon for those 16GB iPhone owners. Needless to say, the podcasts you subscribe to can still be downloaded to your device if you can’t stand the interruption/ buffering that is typical to streaming in these parts of the world with our slow LTE connections.

PC SALES STILL SLOW

IT appears that Microsoft’s promise of a free upgrade from Windows 8.1 to Windows 10 failed to spur PC sales over the summer, with the figures from the most recent quarter registering negative growth, according to reports by Gartner and IDC, with Lenovo and HP, the world’s top two PC manufacturers, both suffering a -4.0 decline. It should be said, however, that this doesn’t necessarily amount to a lukewarm consumer response toward Windows 10. It could only be that consumers didn’t want to have to deal with upgrading new Windows 8.1-powered PCs to Microsoft’s latest and greatest, which could be problematic, and instead put off their purchase until the new machines with Windows 10 preinstalled hit the shelves.

Meanwhile, here are the top 5 PC vendors worldwide, according to the Gartner report: 1. Lenovo 2. HP 3. Dell 4. Apple 5. Acer

THE country’s leading home digital services provider which posted a market share of over 70 percent in the first half of the year, PLDT Home has partnered with the world’s leading ridesharing tech company Uber to bring the trailblazing transport service for Filipino families to experience a richer digital lifestyle.

PLDT Home and Uber recently formalized a strategic partnership where the telco’s broadband subscribers can more easily enjoy the benefits of the innovative transport service when they download the Uber app on their computers, Telpad and any smart devices at home.

As part of the exclusive offer, PLDT Home Fibr subscribers will get two free Uber rides worth P500 each, while Telpad and DSL subscribers will get one free Uber ride worth up to P300 for first-time users of Uber in Metro Manila until October 31.

According to PLDT VP and Head of Home Marketing Gary Dujali, the partnership is part of PLDT Home’s commitment to enhance the digital lifestyle of its consumers by teaming up with mobile applications and online platforms that will complement their lifestyle needs.

“We are honored to be working with a company that changed the landscape of the world’s ride-sharing economy,” he said. “PLDT Home and Uber share the same vision of providing our customers with digital solutions that add value to their daily lives. We are confident that this partnership will break new ground in the country’s digital landscape.”

Uber Philippines General Manager Laurence Cua added, “We are delighted that this partnership will allow Uber to reach Filipino families and provide them with an enhanced digital lifestyle experience. We look forward to expanding our service to more Filipino families with the help of PLDT Home’s wide subscriber base and strong infrastructure.”

PLDT Home’s partnership with Uber expands the collaboration between the PLDT Group and Uber.

The former’s mobile subsidiary Smart earlier introduced free in-car Wi-Fi in Uber vehicles and offered special promotions for Uber riders on its mobile network.

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by 32 percent, needs to be adjusted, considering that this amounts to P1.2 million today.

“There’s a lot of backroom talks between the Senate President and the Speaker to convince the President to adjust it [tax bracket] to inflation,” he said.

“The Speaker and the Senate President have come to a common position, so the next step is really to talk to the President and present what the options are,” Quimbo added.

Quimbo, citing the Department of Finance, said the proposal may cause the government to lose revenues totaling as much as 1.5 percent of the country’s GDP, or P30 billion.

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TELSTRA IN PHL: A THREAT TO TELCO GIANTS? B L S. M

THE SECRET INGREDIENT YOU’RE MISSING FOR STRONGER MOTIVATION »D4

Wednesday, October 14, 2015

This would be the first phase of the tax-reform package.

Belmonte, in a text message, said he and Senate President Franklin M. Drilon will meet the President this month.

“Senate President Drilon is cur-

rently abroad. But we may schedule the meeting with President Aquino during this [Congress] break, which is from October 10 to November 2,” the Speaker added.

Belmonte said now is the right time to readjust the tax bracket to inflation to increase the take-home pay of ordinary workers.

“With this proposal, we are [only] giving the applicable value of these things at the time the National Internal Revenue Code was approved [in 1997],” he said.

Liberal Party Rep. Romero S. Quimbo of Marikina City, chairman of the House Committee on Ways and Means, said the P500,000 level, for instance, which is currently taxable

SPECIAL REPORT

FIFTY YEARS AND STILL STANDING

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B J M N.  C

The leadership of the 16th Congress will meet Mr. Aquino to convince him to certify a bill that only seeks to adjust the levels of taxable income to inflation, Speaker Feliciano Belmonte Jr. said on Tuesday.

NUVALI DELIVERS THE PROMISE

P.  |     | 7 DAYS A WEEK

Congress makes final push for income tax-reform bill

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SUSTAINABLE LIVING AT NUVALI

NUVALI

Thursday 18, October 2014 Vol.14, 10 No.2015 40 Vol. 11 No. 6 Wednesday,

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AWMAKERS are making a final push for the passage of the income tax-reform bill, this time by presenting a more palatable version of the measure to President Aquino.

INSIDE

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A broader look at today’s business

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Conclusion

HE telecommunications market is expected to further expand, thanks to the relatively lower smartphone penetration in the Philippines; but with the possible entry of another network player, competition is expected to toughen.

Smartphone penetration is currently at about 50 percent of the population, but mobile-subscriber count is now at 121 million. The wireless subsidiaries of Philippine Long Distance Telephone Co. (PLDT)—Smart and Sun—dominate the market with 68.9 million subscribers, while Globe Telecom Inc. accounts for 53 million.

This is expected to grow to at least 131.97 million by 2019, an analysis by BMI Research of Fitch showed, as more and more users shift to new technologies. Definitely, the incumbents will continue to increase their numbers, but should Telstra Corp. Ltd.’s foray into the Philippine market prove to be as successful as San Miguel Corp.

(SMC) hopes, the current network

PESO EXCHANGE RATES ■ US 45.8670

C  A

BROKEN PLDT public payphones on Ayala Avenue in Makati City. NONIE REYES

LAWMAKERS NIX PLAN TO REVIVE PRE-SHIPMENT INSPECTION

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ONGRESS is backing exporters in their stand against the revival of the pre-shipment inspection (PSI) scheme, stressing the need for further trade facilitation.

In separate text messages, Rep. Romero S. Quimbo and Sen. Juan Edgardo M. Angara, chairmen of the Ways and Means committees of the House of Representatives and the Senate, respectively, said the scheme should be a matter of choice.

The Ways and Means committees of both chambers are in charge of moving the amendments to the Customs Modernization and Tariff Act (CMTA). Several camps are pushing the revival of the PSI scheme through the proposed CMTA. “I don’t agree that pre-shipment inspection should be made a requirement, more so be made legally mandatory.

Pre-shipment inspection is potentially in conflict with the Kyoto Convention, which the Senate ratified in 2010.

What we need in the BOC [Bureau of Customs] is trade facilitation, not more inspection,” Quimbo said in a text message. For Angara, the implementation of the PSI scheme should not be any different from when it was being implemented before the expiration of the government’s contract with its former contractor, SGS, for this service.

“The PSI is something that is left open, meaning as a matter of choice, to a country’s administrators. As in the past, we had the customs working with the SGS, but past administrations terminated this.

So, at the end of the day, that type of inspection boils down to an administrative choice rather than a legislative injunction,” Angara said in a text message.

The Philippine Exporters Confederation Inc. (Philexport) on Monday warned against any move to insert the PSI scheme into the proposed CMTA, saying that the move will further reduce the competitiveness of traders who are still bearing the hefty costs of trucking and shipping fees, on top of the downturn in export receipts.

“If that is implemented, businesses will shoulder the cost. Ideally, the government should shoulder it, but it doesn’t. This is an added expense to the trucking and shipping fees. This makes us uncompetitive,” Philexport President Sergio Ortiz-Luis Jr. said in a phone interview. Catherine N. Pillas

■ JAPAN 0.3823 ■ UK 70.3737 ■ HK 5.9186 ■ CHINA 7.2540 ■ SINGAPORE 32.7950 ■ AUSTRALIA 33.8127 ■ EU 52.1324 ■ SAUDI ARABIA 12.2384

Source: BSP (13 October 2015)

A2 Wednesday, October 14, 2015

BMReports BusinessMirror

Telstra in Phl: A threat to telco giants?

Continued from A1

players will find it harder to acquire more customers. “A potential new entrant in the form of San Miguel Corp.’s Bell Telecommunications unit could drive competition in the currently duopolistic market. If its commercial launch is successful, incumbents Globe Telecom and Philippines Long Distance Telephone Co. could have their market positions threatened,” BMI Research said in its 2015 report.

Bell Telecommunications Philippines Inc. is a subsidiary of the foodto-infrastructure firm. It is expected to be used as the corporate vehicle for the new telco player. The research institute said it expects the new player to come in by the fourth quarter of the year. Telstra is expected to shake up the duopolistic structure of the Philippine telecommunications market.

Threat to giants

Alexander Adrian O. Tiu, senior equity analyst at AB Capital Securities Inc., said the entry of Testra through Bell Telecommunications will threaten the profitability of the two telco giants.

“There’s going to be a lot of pressure for both PLDT and Globe if Telstra proceeds through. An entry of a new telecom giant not only would affect the current market share of PLDT and Globe, but would also affect the growth rate of the respective companies,” Tiu said.

“There will also be margin pressure due to competition and this would have

a strong impact on the current duopoly,” he added.

While the Australian telecommunications giant SMC have been keeping mum about their initial plans for the Philippines, the prospect of a new entrant already forces the incumbents to work twice as hard to sustain their growth.

“It’s hard to give an estimate on the impact given that Telstra and SMC have not announced a formal plan yet—and what business segment they will focus at. But, depending on how aggressive Telstra is, I can see a possible decline of 5 [percent] to 20 percent in top line,” Tiu said.

PLDT ended the first semester with flat revenues at P85.19 billion, while Globe closed the first half with P53.8 billion in revenues, a 13-percent rise from the year prior.

The entry of a third network player will also put pressure on share prices of the two listed telecommunications companies. “Given that market share, growth and margins may deteriorate, there will be a lot of pressure on PLDT and Globe’s share prices if Telstra decides to enter,” Tiu said.

PLDT shares ended trading at P2,220 each on Tuesday, a 3.34-percent decline from P2,276 posted on Monday. Stocks of Globe also dipped by 2.17 percent to end Tuesday’s trading at P2,250 apiece.

The local bourse posted losses on Tuesday after China reported that its imports in September plunged by

20 percent. Ramon R. Isberto, PLDT spokesman, attributed the decline of his company share prices to the “recent flight of foreign investors from emerging markets.”

“It has disproportionately affected the stock price of PLDT, which remains one of the most liquid stocks in the Philippine market and, thus, relatively easy to trade. Despite that, and of greater relevance, PLDT clearly remains the largest telecoms player in the Philippines based on market capitalization and overall business,” Isberto said.

In terms of market capitalization, PLDT still is king with P491.74 billion, significantly higher than Globe’s P305.31 billion.

The two largest telecommunications companies in the country posted mixed results in the first half of the year, with net profits of Globe rising by 27 percent, while that of PLDT ceding by 6 percent.

In absolute terms, the largest Filipino telco booked a net income of P18.7 billion, while its rival wrote off P8.7 billion on its records.

Unfazed

Despite the threat posed by Telstra to existing players in the local telco market, Globe President Ernest L. Cu remains unfazed, citing the company’s previous experience as the challenger brand to a very competitive player.

“Globe has been in competition with a much larger, well-funded incumbent, and we will continue to compete

moving forward,” Cu said. “Assuming rational business practices, and Telstra will be in business to increase shareholder value, we are confident that we will be able to compete effectively.”

“Today the competitive environment in telco is already intense despite having only two active industry players. To compete in such an environment does not only require substantial resources but a passion for the customer and a culture of innovation,” he said.

Isberto, for his part, said PLDT will do its best to further improve its financial position and vowed to be more aggressive in competing in the hotly contested market.

“We are promoting innovation within the PLDT group and also establishing partnerships with the best tech companies in the world in order to develop and offer engaging digital services that will delight our customers. This also involves transforming our organization, building new digital skills and capacities, and strengthening our relations with our customers,” he said.

The spokesman noted that PLDT does not only compete with Globe alone, but also with other Internet players, hence, it will have to exert more effort to thrive in the ever-changing market.

“Our general view is that in a deregulated industry, such as telecommunications, competition is a fact of life. This competition comes not only from other telcos, but also from Internet players. We need to think and act accordingly,” Isberto said.

news@businessmirror.com.ph

Apec. . .

Continued from A8

“The distribution utilities were the hardest hit, which accounted for 76 percent of the total damage to the energy sector.

This underscores the importance of building adaptability in the energy sector. Climate-proofing the energy infrastructure has clearly become a necessity,” Legarda said.

Ayala Energy Holdings Inc., which has assembled about 700 megawatts in attributable generating capacity, said it is best if Apec releases these standards. “Maybe Apec can take a stand on such standards on building codes, equipment of materials that consume less electricity. When it comes to standards there were suggestions to perhaps align certain standards,” AC Energy President John Eric Francia said.

Francia and AboitizPower Corp. CEO Erramon Aboitiz, meanwhile, called on the government to do its part in fostering private- sector participation in building more energy infrastructure.

“Things like permitting could move the public-private partnership [PPP] projects faster,” Aboitiz said. Francia also said the government must “focus on specific targeted PPP where it can tap the private sector’s help.” Moreover, the Ayala official said there should be coordinated government policies to attain energy resiliency and sustainability.

Steel. . .

Continued from A8

“There’s around 300 million tons of excess capacity in China, that’s the problem, so they’re forced to export,” Cola said by phone from Manila on Monday. There’s “a lot of protest from a lot of other countries.”

Cargoes from China jumped 16 percent to 11.25 million metric tons in September from August, the customs data showed. Imports

by Southeast Asia—which groups economies including Indonesia, Thailand, the Philippines and Singapore—will probably increase to about 33 million or 34 million tons this year from 23 million in 2014, according to Cola.

The group that Cola chairs was founded 44 years ago and represents mills from Southeast Asia. With a secretariat based in Shah Alam, Malaysia, its role is to promote the iron and steel industry across the region, liaising with producers in Australia, Japan, South Korea and Taiwan. Bloomberg News

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The Nation BusinessMirror

Editor: Dionisio L. Pelayo • Wednesday, October 14, 2015 A3

Marcos, Romualdez, Pagdilao lead second-day filers

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By Joel R. San Juan

ORE individuals, some of them claiming that they were sent from above to lead the country, yesterday filed their certificates of candidacy (COC) before the Commission on Elections (Comelec) for president and for other national posts up for grabs in the coming 2016 elections.

On the second day of filing of COCs, 12 filed their COCs for president, four for vice president (VP) and six for the Senate as of press time.

This brings the number of presidential aspirants to 34 since the filing of COCs started on Monday.

So far a total of seven individuals have filed their COCs for VP and 23 for the Senate.

Among the prominent figures who filed their COCs were Sen. Ferdinand R. Marcos Jr., who is running for vice president, and Party-list Rep. Samuel D.Pagdilao of Anti-Crime and Terrorism-Community Involvement and Support (ACT-CIS), who is seeking a seat in the Senate.

Marcos, who was the seventh candidate to file for VP, was accompanied by his wife, Louise Araneta.

His cousin, Lakas Rep. Martin Romualdez of Leyte, also filed his COC for the senatorial race.

Romualdez was accompanied by his aunt, former first lady Imelda Marcos, in filing his COC. Pagdilao said he is running under a platform of anticrime and anticorruption.

“Platform that represents peace and order, anticrime, antiterrorism and all those that threaten peace and tranquility in the country, as well as in fighting corruption in the government. This will ensure not only a peaceful community but usher in community development,” he said.

Among those who filed for the presidential race were 75-year-old Alfredo Tindugan, who said he will establish a “divine government,” with running mate Angelito Baluga.

PARTY-LIST Rep. Samuel Pagdilao of ACT-CIS displays his certificate of candidacy for senator at the Commission on Elections Office in Intramuros, Manila. Pagdilao is a retired police director (major general in the Armed Forces), who commanded the Criminal Investigation and Detection Group during his service with the National Police. ROY DOMINGO

‘Butz’ an irreplaceable loss, Singapore president says

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INGAPOREAN President Tony Tan Keng Yam has said that the passing of Sen. Agapito “Butz” Aquino is “an irreplaceable loss.”

Tan, in a letter of condolence dated on August 20 that was sent to President Aquino, a nephew of the late senator, said he was saddened to learn about the passing of Butz, who was also respected for his key role in the 1986 People Power Revolt. Butz Aquino was founder of the August Twenty-One Movement, which fought the Marcos dictatorship.

“I was saddened to learn about the passing of your uncle and former Senator Aquino. As senator, he worked tirelessly to better the lives of all Filipinos. He was also respected for his key role in the Edsa Revolution, which ended the Marcos dictatorship. His passing is an irreplaceable loss,” Tan said in his letter, which was passed on by Malacañang to the late senator's wife, Popsy Mendez-Aquino.

Moreover, Tan said that as a senator, Aquino worked tirelessly to better the lives of all Filipinos.

Butz Aquino died of natural causes on August 17, just four days before the 32nd death anniversary of his martyred brother, Ninoy, who was assassinated upon his return in 1983 from the United States.

He was a senator from 1987 to 1995 and later served for nine years as congressman of the Second District of Makati City from 1998 to 2007.

He was also acknowledged as the father of Philippine cooperatives, having authored the Cooperative Code of the Philippines, which created the country's Cooperative Development Authority. He also worked for the enactment of Magna Carta for Small Farmers.

Aquino was widely admired for his humility and his refusal to take advantage of his position as senator and as brother-inlaw of the late President Corazon C. Aquino or as uncle of the incumbent President. Jovee Marie N. dela Cruz

Robert John Ygonia a.k.a. Archangel Lucifer, who claims to have been chosen by Jesus Christ to lead the country, also filed his COC for president.

Marita Arilla, who is similarly aspiring to run for president, said she is looking to establish a government under “absolute monarchy” with “unlimited power from God.” Nacionalista Party Rep. Mark Villar of Las Piñas, on the other hand, is seeking reelection.

In Pampanga Gov. Lilia Pineda filed her COC. She is seeking a third and last term.

Pineda was accompanied by her supporters and

other candidates when she filed her COC. Liberal Party Rep. Joseller Guiao of Pampanga also filed his COC for his reelection before the provincial office of the Comelec in the capital City of San Fernando.

San Juan City Vice Mayor Francis Zamora on Tuesday filed his COC for mayor under the Nacionalista Party.

Zamora was joined by his father, reelectionist the Partido Magdiwang Rep. Ronaldo Zamora of Lone District of San Juan, and Totoy Bernardo and his 12 councilors, including retired Philippine Basketball Association player Paul Artadi, actress Ericka Villongco

and singer Lance Raymundo. The young Zamora said that he decided to run against Mayor Guia Gomez to give the people of San Juan City “alternative candidates” that can also bring change to the city.

After his filling Zamora reiterated his challenge to Gomez for a public debate.

“Kung wala siyang tinatago, bakit hindi kami magharap sa isang debate,” he said. Gomez, once again turned down Zamora’s challenge saying “I wish I could but I will not go down to that level. I am a woman of action.”

With Jovee Marie N. dela Cruz and Claudeth Mocon-Ciriaco

Economy

A4 Wednesday, October 14, 2015 • Editors: Vittorio V. Vitug and Max V. de Leon

BusinessMirror

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Govt sure to lure PHL businesses on buying binge abroad

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By Butch Fernandez

outing “improving infrastructure,” a level playing field and business processes tagged “globally competitive,” the Aquino administration is confident of luring some of the excess resources of Philippine companies earlier reported on a buying binge abroad.

briefs german traders keen on phl’s ict, game devt

A high-level German business mission that recently visited the country has expressed interest in local information and communications technology (ICT) and knowledge-process outsourcing (KPO) sector, and game development.

Parliamentary State Secretary Brigitte Zypries of the German Federal Ministry for Economic Affairs and Energy led a business mission to the Philippines last week, according to the Department of Trade and Industry (DTI).

Trade Undersecretary Ponciano C. Manalo met with Zypries and German Ambassador to the Philippines Thomas Ossowski, to discuss the sectoral focus of German industries in the Philippines, as well as new areas of possible investments.

Zypries expressed interest in the ICT and KPO sector, and game development during the meeting with the DTI, and similarly inquired on the incentive package for car companies in the DTI’s manufacturing-boosting program, the Comprehensive Automotive Resurgence Strategy Program.

Zypries’s Philippine visit also marked the formal induction of the German-Philippine Chamber of Commerce and Industry into the German Chambers of Commerce network, which is expected to provide an added boost to bilateral trade and investments.

Germany is the Philippines’s biggest European trade partner and among the country’s biggest official development assistance partners. Two-way trade hit $5.3 billion in 2014, a significant boost from the $4.7 billion registered in 2013. Catherine N. Pillas

ipophl, unctad ink new cooperation pact

The Intellectual Property Office of the Philippines (IPOPHL) has inked an agreement with the United Nations Conference on Trade and Development (Unctad) for stronger cooperation between the two parties in the field of intellectual property (IP) and development.

The agreement will pave the way for further engagement between the IPOPHL and Unctad. The Philippines is seen to benefit more from the UN agency’s advisory services and capacity-building activities on IP and development issues.

“With this new agreement we are building on our mandate to align our IP policies with our interests as a developing economy and with our bid to achieve inclusive growth and development. We are fully aware that our IP policies need to be crafted with a public-policy perspective and that the cross-cutting IP and development issues are important issues that we need to address,” said lawyer Allan Gepty, deputy director general of IPOPHL. The Unctad has been providing technical assistance in the form of ad hoc advisory services and capacitybuilding activities to the Philippines in various subject areas related to IP and development since 2013. Catherine N. Pillas

Malacañang on Tuesday cited some of the key factors that bolster such confidence, on the heels of reports that some of the most successful Philippine businesses have been busy acquiring assets abroad, using excess cash built up thanks to a robust domestic economy.

The Palace was asked whether it was looking to collar some of such extra cash from Philippine businesses, even as the latest Bangko Sentral ng Pilipinas (BSP) report showed continuing sluggishness in terms of foreign direct investment (FDI) net inflows.

While July net FDI inflows showed

a slight 1.6-percent increase, the BSP reported on Monday that the 7-month net inflows declined 35.2 percent, from $3.8 billion to $2.5 billion. For the first semester of 2015, the decline in net FDI inflows was even sharper, at 40 percent, from $3.4 billion in January to June 2014, to only $2.0 billion in the first half of 2015.

Asked whether the intensified push for public-private partnerships (PPPs) provide successful Philippine businesses enough motivation to prioritize investing at home, Communications Secretary Herminio B. Coloma Jr. replied: “The govern-

ment has fostered a healthy environment for investments by improving physical infrastructure and ensuring a level playing field anchored upon good governance.”

In terms of the PPPs, Coloma noted that the Aquino administration has also “created a wholesome climate through transparent and efficient processes that have been cited as globally competitive.”

The big Philippine businesses' overseas forays in recent months were deemed logical, given their extra stash from the robust growth at home, as well as the bargain prices

in some distressed economies abroad and record-low interest rates.

However, analysts had also noted that the overseas buying binge signals the big Filipino companies’ frustration with “enduring problems at home,” such as red tape, regulatory risks and slow action on proposals from the private sector.

The Executive had in recent days stressed that these concerns of the Philippine companies—many of which were echoed in the 10-point list embodied in last week’s Joint Foreign Chambers statement—are being continually and determinedly addressed.

₧62.7B in 2016 budget bill seeks to widen CCT coverage–Abad

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he Pantawid Pamilyang Pilipino Program (4Ps) will be able to broaden its coverage to include high-school students and help more indigent families with an allocated P62.7 billion in the proposed 2016 national budget.

Budget Secretary Florencio B. Abad said the 4Ps must not only be sustained but also widened, given that this is one of the most important and effective programs of the government that put resources in the hands of the poor.

“Programs that protect the poor cannot be left underfunded. We will be able to further reduce the vulnerability of indigent families if we help them keep their children in school all the way to high school, as well as provide opportunities for employment and livelihood,” the budget chief said in the wake of Congress’s approval of the 2016 general appropriations bill after a marathon deliberation last week.

As the lead implementing agency of the 4Ps, the Department of Social Welfare and Development (DSWD) will get the sixth highest fund allocation among the various departments in the 2016 National Expenditure Program (NEP). Of the agency’s budget of P104.2 billion, P62.7 billion is allocated for the Conditional Cash-Transfer (CCT) Program, also known as the 4Ps. Of the amount allocated for the CCT Program, P59.4 billion will benefit 4.4 million poor households registered under the regular CCT Program. The remaining P3.3 billion will cover 218,377 beneficiaryhouseholds under the Modified CCT Program. These beneficiaries range from itinerant families, homeless street families, and families in need of special protection due to manmade and natural disasters.

Because a number of the house-

Shopaholic A lady shopper shops for toys and other gift items

at a stall near a market in Quezon City. Flea market stalls are expected sprout in almost every corner of the city amid the shopping frenzy with the approach of the Christmas season. Nonoy Lacza

holds are set to graduate from the CCT Program, the Sustainable Livelihood Program will double its budget with P9.6 billion to help a targeted 170,470 families move from subsistence to selfsufficiency through microenterprise subsidies.

The program will benefit 208,352 beneficiaries with skills and technical-vocational training to prepare them for future jobs.

Meanwhile, to increase communities’ access and participation in local planning, budgeting and program implementation, the Kalahi-CIDSS National CommunityDriven Development Program will get P10.9 billion to empower 13,357 barangays in 627 municipalities across 58 provinces.

Likewise, the DSWD budget is set to implement the provision of the senior citizens’ law—Republic

Act 9994, or the Expanded Senior Citizens Act of 2010—mandating a P500 monthly pension for all indigent senior citizens nationwide.

With a budgetary allocation of P7.5 billion, this pension program will target 1,182,941 senior citizens aged 60 years old and above.

The DSWD will also increase the budget of their Supplementary Feeding Program with an allocated P693 million, for a total

budgetary support of P4.05 billion. This amount will help feed 2,150,621 day-care children with nutritious meals.

The DSWD budget will provide budgetary support amounting to P129 million for the update of the National Household Targeting System for Poverty Reduction, in the wake of the extensive destruction brought by Supertyphoon Yolanda. PNA

Survey shows high social, environmental Jica exec urges DPWH: Start consciousness among Filipino shoppers Mindanao road project now

By Cai U. Ordinario

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HE majority of Filipinos are willing to spend more for sustainable products and services, according to the 2015 Nielsen Global Corporate Sustainability Report.

Data showed that 86 percent, or nine in 10 Filipinos, are willing to buy products from companies that are socially and environmentally conscious.

“Sustainability is a worldwide concern and this is especially true for consumers in a growing population, such as the Philippines, to be continually aware of environmental and societal issues,” Stuart Jamieson, managing director of Nielsen in the Philippines, said.

“More exposed to the stress in the environment and its effect to the community, consumers are trying to be responsible citizens and they expect the same from corporations,” he added.

Nielsen Philippines said the top sustainability factor for Filipino consumers is health and wellness.

Nearly three quarters of survey

respondents in the Philippines, or 74 percent, said health and wellness are very influential in their purchase decisions.

This means products that are made with fresh, natural and/or organic ingredients appeal strongly with Filipino consumers.

Fu r t he r, 7 7 p e rce nt of re spondents said trusted brands or a company that they have patronized for years inf luence their purchase decisions.

“There’s still room to elevate trust even for consumer-goods brands that have established a high level of trust with consumers. For these brands, this presents an opportunity to evaluate where best to introduce sustainable products into the market to drive growth,” Jamieson said.

Other major factors that inf luence Filipino consumers to purchase goods and services include care for the environment and social awareness.

Around 64 percent of Filipino respondents said they value environmentally sustainable products and

another 62 percent said they will purchase products with social value.

Further, around 60 percent of Filipino respondents claim that environment-friendly packaging also influences their purchase decision.

“Commitment to social and environmental responsibility is surpassing some of the more traditional influences for many consumers,” Jamieson said. “Consumer-goods brands that fail to consider this run the risk of falling behind.”

The Nielsen Global Survey of Corporate Social Responsibility and Sustainability was conducted between February 23 and March 13, 2015, and polled more than 30,000 consumers in 60 countries throughout Asia Pacific, Europe, Latin America, the Middle East, Africa and North America.

This Nielsen survey is based only on the behavior of respondents with online access. Internet penetration rates vary by country. Nielsen uses a minimum reporting standard of 60percent Internet penetration, or an online population of 10 million for survey inclusion.

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he Japan International Cooperation Agency (Jica) has urged the Philippine government to immediately commence a five-year project for the rehabilitation and upgrade of the SurigaoDavao-Surigao (Lipata)-Agusan del Norte road.

In a letter, Jica chief representative Noriaki Niwa asked the Department of Public Works and Highways (DPWH) to “facilitate the immediate processing of the advance payment and succeeding billings” for the project.

The Jica official said the funding for the road works forms part of the agency’s total disbursement commitment in the current Japanese fiscal year ending March 2016.

The joint venture of Equi-Parco Construction Co. and Hebei Road and Bridge Group won the bidding for the 123.5-kilometer road project with a bid of P3,321,551,974.95.

Equi-Parco/Hebei’s bid is 2.95 percent below the approved budget for the contract in the amount of

P3,422,688,199.31.

Jica would fund 76 percent of the total approved budget, with the Philippine government shouldering the remaining 24 percent.

“Disbursements for this contract will be made by us within the limits of P2,365,786,178.42 representing 76 percent of the eligible local currency expenditures for PBM-4 subject to the relevant provisions of the loan agreement,” Noriaki told the DPWH. Counterpart funding from the Philippine government would amount to P1,056,902,020.89.

Noriaki wrote the letter, dated September 21, in response to a query by the DPWH as to Jica’s concurrence on the signed contract between the DPWH and Equi-Parco/Hebei.

“In accordance with the relevant provisions of Loan Agreement No. PH-P 247 dated March 31, 2011, between Jica and the Philippine government, we hereby inform you that Jica has no objection on the above…”

Noriaki said.

Economy BusinessMirror

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SCADC renews push for Clark, Subic expansion

By Henry Empeño Correspondent

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UBIC BAY FREEPORT—The Subic-Clark Alliance for Development Council (SCADC) is pursuing plans to expand the areas of the neighboring Subic Bay and Clark free ports to attract more investors and help solve the problem of congestion in Metro Manila.

Subic Bay Metropolitan Authority (SBMA) Chairman Roberto Garcia, who is also chairman of SCADC, said on Monday that council members have agreed to develop new industrial estates within the corridor between Subic and Clark.

“Accordingly, there are about 100,000 hectares of land suitable for development on both sides of the Subic-Clark-Tarlac Expressway [SCTEx],” Garcia said in a media briefing here.

“Initially, we’re looking for a 1,000-hectare pilot area. We’d allow Japanese or Korean investors to construct facilities there at their own expense to convince others that it’s beneficial to locate along the Subic-Clark corridor,” he added.

Garcia said that plans for the expansion of the Subic and Clark free ports have been in existence since the administration of former SBMA Chairman Felicito Payumo and former Bases Conversion and Development Authority President Rufo Colayco, but these did not push through.

The integrated development of Subic and Clark, as well as the vast corridor of flat lands between them, had been set as the objective of

SCADC, which also seeks to harmonize programs and policies pertaining to Clark and Subic.

SCADC is composed of representatives from the BCDA, SBMA, Clark Development Corp., Department of Trade and Industry, Clark International Airport Corp. and, lately, North Luzon Railways Corp.

Subic, which has a total land area of 67,852 hectares, and Clark, which has 4,500 hectares, had since been developed into separate but complementary economic zones connected by the 94-kilometer SCTEx. However, Subic, in particular, increasingly suffered from lack of space, as most of its mountainous territory is designated as a nature preserve and only less than 3,000 hectares have been put up for lease to business locators.

Garcia said that with the worsening traffic situation in Manila, as well as the diminishing space for industrial and commercial use in Subic, there is a need to find alternative investment sites to sustain economic growth.

“Foreign investors no longer find Manila attractive because of the traffic congestion,” Garcia pointed out. “But there’s no congestion, no truck ban and no flood in Clark and Subic.”

Garcia said it would be ideal for new investors to locate near Subic and Clark to make use of the distinct advantages the two free ports can offer.

“If investors need to deliver materials fast, there is Clark with its airport; and if they need to bring in heavy machinery, then there is the port of Subic,” he added.

briefs palace confirms japan’s emperor, empress manila visit Malacañang confirmed on Tuesday the upcoming visit to Manila of the Emperor and Empress of Japan but a fixed date is still being finalized.

“We are pleased to announce that the Philippines has started necessary coordination with Japan for a visit of Their Majesties, the Emperor and Empress of Japan, to the Philippines, possibly in early 2016,” Palace Communications Secretary Herminio B. Coloma Jr. said.

He added that the visit is in response to President Aquino’s personal invitation for the royal couple to come to Manila.

Coloma noted that this will be “the first time a reigning emperor of Japan will be visiting the Philippines, and returns the warm welcome Their Majesties extended to the President when he visited Tokyo earlier this year.” Butch Fernandez

BOC seizes p60m worth of ‘hot’ smartphones gadgets THE Bureau of Customs-Enforcement Group (BOC-EG) announced on Tuesday that it has seized a shipment containing smartphones and other high-tech gadgets amounting to P60 million at the Manila International Container Port (MICP) from Hong Kong last month BOC-EG Deputy Commissioner Ariel F. Nepomuceno said that the 1x40 shipment of gadgets was subjected to a 100 percent inspection that led to the discovery of the contrabands.

The shipment was declared as casing thermos and gift boxes, but yielded 22,500 pieces of mobile phones; 1,000 pieces of tablet phones; 13,800 pieces of touchscreen phones; 6,000 pieces of smartphones; 4,000 pieces of remote controls for gaming purposes; 290 boxes of batteries, charger and headset; 1 box of mobile-phone casings; and 582 bottles of red wine.

The gadgets and other articles consigned to a Uranus Enterprises has a total estimated value of P60 million.

The BOC is now preparing the filing of charges against the consignee for misdeclaration of their shipment.

In a separate operation, the BOC-EG seized a shipment containing ready-towear clothes from Kompong Som in Cambodia following a spot-check.

Joel R. San Juan

heidi mendoza to head u.n.’s internal oversight services

UNITED NATIONS—The United Nations General Assembly approved the appointment of Heidi Mendoza, top auditor of the Philippines, as the new head of its internal oversight body, the Office of the Internal Oversight Services (IOS) said.

Mendoza, who succeeds Carman Lapointe of Canada, will serve as undersecretary-general for IOS for a five-year nonrenewable term.

In a news statement, UN Secretary-General Ban Ki-moon welcomed the General Assembly's approval of the appointment.

Mendoza has been commissioner of the Commission of Audit of the Philippines since 2011. She also chaired an external auditing board for the Food and Agriculture Organization, World Health Organization and International Labor Organization.

According to the UN, Mendoza has over 20 years of service in government, particularly in the field of audit, investigation, fraud examination, anticorruption and integrity advocacy.

She worked previously as consultant for the Asian Development Bank and the Australian Agency for International Development.

The UN’s Office of Internal Oversight Services is the internal oversight body of the UN. Established in 1994, the office assists the secretary-general in fulfilling his oversight responsibilities in respect of the resources and staff of the UN through the provision of audit, investigation, inspection and evaluation services. PNA

Wednesday, October 14, 2015 A5

House leader officially pronounces RFI bill ‘dead’

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By Jovee Marie N. dela Cruz

ne of the Palace’s priority measures, the Rationalization of Fiscal Incentives (RFI) bill, is now considered dead in the lower chamber after the Department of Finance (DOF) and the Department of Trade and Industry (DTI) have failed to reconcile their positions on the measure, the chairman of the House Committee on Ways and Means said on Tuesday.

Panel chairman and Liberal Party Rep. Romero Quimbo of Marikina, in an interview with reporters, said there will be no more time for the lower chamber to pass the RFI bill “because of the inability of the two agencies to come together.”

“Their [DOF and DTI] positions are just too diverse and far apart that there’s so little time to actually bridge them together,” Quimbo said.

“There’s no more time for rationalization of fiscal incentives consider ing the DTI and the DOF cannot reconcile their differences. This will involve close

to 78 industries so its very very important that we’ll be able to know their specific inputs,” the lawmaker added.

The bill is among the 16th Congress and Palace’s priority measures.

During the last hearing of the House Committee on Ways and Means on the RFI bill, Trade Undersecretary Adrian S. Cristobal Jr. identified four contentious issues.

1. Implementation of a uniform incentive package for all economic zones consisting of a four-year income-tax holiday (ITH), after which a choice of either a 5-percent reduced tax on gross income earned

(GIE), or a 15-percent corporate income tax (CIT) for 11 years (total of 15 years).

2. Renewability of either the 5-percent GIE or the 15-percent CIT for 15 years, upon review after 15 years. This incentive is on top of the ITH and GIE/CIT combination, totaling to 30 years of incentives availment. While the DTI is in favor of the time-bound perks, the authority to renew or terminate incentives should lie with the investment-promotion agency boards.

3. Implementation of any change in the incentive package, either for export-oriented enterprises in the Philippine Economic Zone Authority (Peza) or the Board of Investments (BOI), should be prospective.

4. Existing locators who enjoy the present package should be given an option to migrate to the new scheme.

Cristobal said keeping the incentive packages attractive is significant now that other competing Asean member-nations are offering better packages.

Vietnam, for instance, offered Samsung a 30-year ITH for the electronics giant to locate there.

Indonesia, according to Peza, just doubled its ITH period from 10 years to 20 years.

The DOF, however, remained firm in its opposition, specifically on the second issue.

Also, the RFI bill has been facing strong opposition from business groups due to its provisions, particu-

larly the lifting of the tax- and dutyfree incentives of several industries.

Quimbo earlier said the government is losing billions of pesos by giving incentives.

“We lost P148 billion in 2013 on fiscal incentives but [with the passage of the RFI bill] we want to make sure that we will only remove incentives to those industries that don’t deserve it…however, those who deserve it, meaning those that generate jobs like manufacturing, as well as [those who are] export-oriented, we will not only protect them but we will, in fact, even increase their incentives so that we can make it competitive," the lawmaker said.

Quimbo, meanwhile, said the lower chamber will monitor the implementation of the proposed Tax Incentive Management and Transparency Act (Timta), which was recently ratified by the both chambers of Congress.

“We agreed as substitute to that [RFI] in terms of accomplishment is really the Timta that’s one major step for us to be able to pass a better RFI. Through Timta, we will see which incentives are best and which are not, because data are now available,” Quimbo said.

The proposed Timta seeks to promote transparency and accountability in the grant and administration of tax incentives to business entities, and private individuals and corporations.

Govt to fund acquisition of bancas, bikes to raise student school attendance, reduce dropout rates

By Recto Mercene

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he government will fund the purchase of “bancas and bicycles” to boost school attendance and reduce dropout rates, because the poor transportation system in Metro Manila is a leading cause of school absences, Senate President Pro Tempore Ralph G. Recto said on Tuesday.

“Under the Department of Education’s (DepEd) Pedals and Paddles Project, the agency will bankroll the purchase of “small boats, motorized boats and bicycles,” Recto said.

In its 2016 budget briefer, the DepEd said it will spend up to P10,000 for a small boat that can accommodate three to five kids and up to P50,000 for a motorized banca that can ferry 15 to 20 passengers.

It will also spend up to P3,000 for a refurbished bicycle, Recto said, quoting the DepEd proposal.

Both programs are lodged under the agency’s “last-mile learners” initiatives, which also target schools in hard-to-reach areas and those not connected to energy grids.

Recto welcomed the DepEd’s “novel idea as an effective deterrent to school absenteeism brought about by transportation barriers.”

“There was one survey which tagged high transportation and long commutes as reasons for fluctuating school attendance and triggers for dropping out,” Recto said.

“In the case of riverine communities where waterways serve as highways, the dearth of boats prevent children from attending school regularly,” he added.

“Pero lupa man o tubig ang dadaanan, kahit may pagkaing baon na ang bata pero kung wala namang pamasahe or walang masakyan, paano siya makakapasok?” the senator lamented.

“Kung sa ngayon, P12 ang pamasahe one-way, at dalawang magkapatid will ride in tandem, then that’s P48 saved a day, or about P1,000 a month. On a 10-month school calendar, that’s P10,000 a year,” he said.

“The use of these bikes and ban-

Bike for a cause The French Embassy in Manila, the Firefly Brigade and other organizations join a bicycle ride over the weekend at the Rizal Park and outlying areas in Manila to call the attention of the general public to the global concern on the impacts of climate change. PNA

RECTO: “Under the Department of Education’s Pedals and Paddles Project, the agency will bankroll the purchase of “small boats, motorized boats and bicycles.”

cas must be linked to school attendance. If you ride, you must do well in school. This is another form of CCT—Conditional Communal Transport,” he added.

Recto batted for more funds for the programs, “because if the allocation will be taken from the department’s proposed budget of P445 million for Alternative Learning Systems, then clearly it won’t be enough.”

Any budgetary augmentation,

Recto explained, will allow the DepEd to match the equity provided by its non-governmental organization (NGO) partners.

In the case of boats, the DepEd’s collaborator is the Yellow Boat of Hope Foundation, while the Bikes for the Philippines is its partner in the bike program.

With the help of these “admirable NGOs,” the Pedals and Paddles Project aims to provide 35,734 bikes and 1,216 boats to learners in farflung and hard-to-reach areas.

“I think we should double the target at the very least. Certainly, we can find budget space to fund the additional acquisitions,” he said.

The DepEd’s proposed 2016 outlay is P411.4 billion, of which P59.1 billion is in Maintenance and Other Operating Expenses (MOOE) and P99 billion is for

Capital Outlays.

“Or we can cut fat in other agencies, or rechannel funding for slowmoving and unimportant projects to these. These are purchases, off-theshelf in the case of bikes, so there are no procurement kinks that will lead to underspending,” Recto said.

In his first term in the Senate, Recto proposed a Bike-for-School Program that will be given to indigent students living far from school.

In his proposal, Recto said grantees can amortize the bikes in easy “rent-to-own” terms. “It will have multiple uses because if the father is a farmer, he can use it to ferry his backyard produce to the market during weekends.

“A bike is fuel-free, easy to maintain, promotes exercise, a green vehicle and a tool for literacy.” Recto said.

A6 Wednesday, October 14, 2015

Opinion BusinessMirror

editorial

Rodrigo Duterte: A future that was not meant to be

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hat a letdown, what a disappointment, what a shame—the announcement the other day of Davao City Mayor Rodrigo R. Duterte that he was not running for president of the Philippines in the 2016 elections.

Millions of Filipinos had hoped that he would run, to clean up the country not just of petty criminals pushing shabu on the streets but of big-time plunderers who have been robbing our country blind through such legal subterfuges as the Priority Development Assistance Fund and the Development Acceleration Program. Millions more had hoped that a Duterte presidency would at last bring to them the prosperous and secured life that many previous administrations had pledged, but failed, to deliver.

Not all were heartbroken. The minions of the status quo had feared that Duterte could thwart their plans of perpetuating incompetence in the government and using moral language to conceal their programs of selfishness, vengeance and deceit to mislead the people. These minions thought they were through destroying Vice President Jejomar C. Binay and were now focusing on Sen. Grace Poe, whom they failed to persuade to run as vice president to Secretary Manuel A. Roxas II. They were beginning to set up Duterte at their sights, not an easy task, given his record of competent and honest service to the people. Now that he had eliminated himself from the race, what a relief.

For the millions and millions of Filipinos who had pinned their hopes for a better Philippines and a superior life under a Duterte presidency, they could only suffer frustration and disappointment. An essay published in this paper talked about Duterte’s program of social uplift and economic development in Davao (no-nonsense traffic management, environmental conservation and urban-renewal programs; social projects ranging from medical assistance, housing, educational opportunities, including scholarships and day-care centers, to parks and playgrounds for the people… a vigorous investment program, emphasizing Metro Davao’s agricultural and tourism potential). “Davao City today is one of our country’s best developed cities.”

We can very well expand the description to encompass the entire Philippines.

Are we condemned to choose from the morally flawed, the technically incompetent, and the angels of pettiness, vengeance and self-righteousness to govern us? Why can’t we have a government staffed by honest officials, dedicated to the improvement of our individual and collective lives, the betterment of our communities, and the enrichment of our national values?

We played in our minds with a Duterte presidency, providing a unifying leadership to our ever diverse persuasions; cleaning up our society of wrongdoers from street level to august chambers; tapping our fullest potential for hard work; leading us to that prosperous and peaceful society which we deserve.

It was an absorbing fascination. But it was not meant to be.

SSS services at members’ fingertips!

Susie G. Bugante

All About Social Security

S

ocial Security System (SSS) members who have reached the technical retirement age of 65 need not go to the nearest SSS branch to file their retirement-benefit applications. With an Internet connection in their homes or offices, they can now file their benefit applications online through the SSS web site (www. sss.gov.ph), a more convenient alternative for senior citizens than personally submitting their claims at SSS branches.

With new online facility, members can conveniently file their retirement claims online six months before they turn 65, and can expect to receive their pensions when they reach the mandatory retirement age.

Under existing SSS policy, members who have turned 65 are eligible for retirement benefits, even if they are still working. Meanwhile, members aged 60 to 64 can apply for SSS retirement benefits, provided they are no longer employed in the private sector or have ceased self-employment.

To be eligible to use the online facility, members must have at least

120 posted contributions—which also qualifies them for retirement pension—and have active SSS web accounts. Members must not have canceled or multiple Social Security or “SS” numbers, pending cases with the Social Security Commission, dependent children, outstanding salary-loan balance, or employment as an underground mineworker.

After receiving the benefit claim of a member, the SSS web system will validate whether the member has met the eligibility requirements for the online facility.

Members submitting their claims online should not file manual applications in any SSS branch to

avoid problems in processing their retirement benefits.

The system will validate and accept a member’s application if all of the requirements were met; otherwise, the member will be informed if there are additional requirements needed to process the claim. The SSS will then notify the member through e-mail if the benefit-claim application was accepted.

Members who are not eligible to file their claims online will be advised to visit the nearest SSS branch for their transactions.

Aside from the online filing of retirement claims, members of the public who wish to register as SSS members and secure an SS number will now be able to do so, online.

Again, they simply have to visit the SSS web site and click at the online registration and coverage link, and provide the information needed to complete the registration process. It is important that they must have a valid e-mail address through which they will be informed of the result of their registration process.

The online registration facility will not only give added convenience to the public but will also help decongest the SSS front-line counters.

A piece of good news to SSS

The limited US options in Syria

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he Obama administration may be right that Russia’s decision to intervene militarily in Syria will backfire against Vladimir Putin. But for now the audacious Russian president has succeeded in altering events in that country’s civil war to his advantage, reestablishing Russia as a regional power and, probably not least from his perspective, embarrassing the United States.

The administration apparently lacked intelligence about Russian intentions or, if it did know that Putin was planning a major operation to rescue Syrian President Bashar al-Assad, it was unable to dissuade him. The US now must contend not only with the reckless Russian military intervention in Syria but also with a diplomatic offensive by Moscow that has won favor with the government of Iraq, a supposed US ally. Some Iraqi politicians are even inviting Russia to launch air strikes against Islamic State (IS) in that country. Iraq is already sharing intelligence with Russia and Syria.

That isn’t all. The administration’s halting and half-hearted efforts to build up “moderate” fighters in Syria to take on IS have made it easy for Putin to argue that the superior strategy for suppressing that group is to shore up Assad. Never

mind that Assad’s brutal suppression of peaceful protests helped energize IS and other extremists and contributed to a hemorrhage of refugees.

The depressing truth is that there isn’t much President Barack Obama can do to prevent Russia from intervening in a civil war in which the US also has taken sides (albeit to little effect). Still, the US and its allies should resist Putin’s attempt to hijack the campaign against IS for his own purposes and they must make it clear that there are limits to what he can do in his attempt to reclaim superpower status for Russia.

On the first point, the US rightly is rejecting Putin’s assertion that the best way to defeat IS is to support Assad. Secretary of Defense Ashton Carter says that the US will coordinate with Russia in Syria only to the extent of holding “technical discus-

sions” to ensure that US and Russian aircraft stay out of each other’s way.

Meanwhile, the US will continue its efforts to “degrade and ultimately destroy” IS in Syria and Iraq.

Beyond that, US options are limited. When Obama said the other day that the US wouldn’t engage in a “proxy war” with Russia in Syria, he was making a virtue out of necessity. Even before the emergence of IS, identifying and arming “moderate” anti-Assad forces was a problematic strategy.

While Putin is wrong to suggest that all of Assad’s opponents are terrorists or Islamic extremists, the line between “moderate” and “extreme” forces can be a shifting one.

Another proposal—endorsed by Hillary Rodham Clinton—is that the US establish a no-fly zone in Syria that would protect civilians from attack by Assad’s forces and IS. But, as Clinton later acknowledged, that would be impractical without acquiescence by Russia, which has rejected the idea as a violation of Syria’s sovereignty and probably would see it as a challenge to its own freedom of movement. Creation of such a zone could risk a direct conflict between the US and Russia.

In the past, there have been

members outside of Metro Manila.

The SSS has launched a toll-free number that they can use to call the SSS call center to inquire about the status of their claims or to know more about the various programs of the SSS. By dialling 1-800-10-CALLSSS (2255777), members from all over the country will be connected to the SSS call center without paying longdistance telephone fees. The SSS call center is open 24 hours a day, Monday to Friday.

The SSS is finding more ways to make its services more accessible to its members. Coming up soon is a more convenient way for pensioners to comply with the Annual Confirmation of Pensioners using an online video facility. As soon as it is in place, the mechanics of this facility will be properly announced.

Indeed, transacting with the SSS is now at the members’ fingertips!

For more information about the SSS and its programs, call our 24-hour call center at (632) 920-6446 to 55, Monday to Friday, or send an e-mail to member_relations@sss.gov.ph.

Susie G. Bugante is the vice president for public affairs and special events of the Social Security System.

Send comments about this column to susiebugante.bmirror@gmail.com.

hints that Russia might help negotiate a political settlement of the civil war in Syria in which Assad would agree to eventually step down or at least share power with some of his opponents. That still might be a possibility—and the US should continue to explore it—but Russia’s actions in the last 10 days have strengthened Assad’s bargaining power.

Beyond its consequences for Syria, Russia’s offensive is part of a larger attempt to assert influence that the US and its allies need to counter. Last week North Atlantic Treaty Organization (Nato) defense ministers announced that they had stepped up security measures in member-states in Central and Eastern Europe already nervous because of Russian incursions into Ukraine.

Nato also must shore up the defenses of Turkey, whose airspace was violated by Russian warplanes in what Moscow said was a mistake caused by bad weather.

As for Syria, Russia’s intervention is unlikely to end—and could exacerbate—a conflict that has cost more as many as 200,000 lives and uprooted millions of people. Far from saving Syria, Putin may have prolonged its agony. TNS

Opinion BusinessMirror

opinion@businessmirror.com.ph

Research that’s just too good to be tested

China cheated Teddy Locsin Jr.

Megan McArdle

BLOOMBERG VIEW

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E know what happens when science is “politicized”: Think of global warming. Politicizing science leads both sides to retreat into bunkers, hurling insults at each other, and trying to cut each other off at the knees by any means necessary.

But what happens when science isn’t politicized? Part of the answer may be: the epidemic of replication failures we now seem to be seeing. A recent paper from the Federal Reserve argues that economics has problems similar to those recently found in psychology: A lot of research results are getting published, and a lot of the interesting findings can’t be replicated, often because key data or instructions aren’t available.

Now, that is not, by itself, necessarily a problem. As I’ve written before, “finding an interesting result that fails replication” is an important part of science. We should not expect every paper to get a replicable result, not even papers that are meticulously done to the highest research standards. The outliers, the coding errors, the unforeseen model weaknesses—these we will always have with us.

But “the authors did not provide enough data to replicate their work” is not a problem science should ever have; neither is “a weak result lived on in the literature for years before anyone tried to repeat it.” I read these papers about replication failure and think, “Aren’t scientists supposed to be competitive? Why aren’t these guys trying to destroy each other? Or at least provide a reality check? How has this gone on for so long? Why do so many journals allow authors to publish without providing the necessary tools to replicate their work?”

Of course, many scientists do some of this. But the recent spate of broad replication failures suggests that they’re not trying to do it nearly enough. And cases I can think of where the system worked are often political. Take Neumark and Wascher’s attack on Card and Krueger’s work on the minimum wage. The debate is hardly resolved.

Partisans of both sides are still confidently declaring that the other side’s proposition about the minimum wage has been “debunked,” even as the research goes on. The debate has often been uncivil. But it is a robust debate in which scientists are hunting for problems in other scientists’ work.

Other relatively recent cases in economics include Levitt’s paper on abortion and crime, the housing-based critiques of Piketty’s book, and the coding error that was discovered in Rogoff and Reinhart’s work on debt dynamics. We might wish that the volume of the debate was turned down a notch. But at least there’s serious science happening—and even better, that science is making its way to the news media and the public.

In too many cases, this does not seem to be happening. One can cite any number of reasons for this: to get tenure, and grants, one needs publications, and it is hard to get published if you’re replicating a previous study; meticulously replicating someone else’s work isn’t nearly as much fun as designing your own research; people who invest a lot of time and effort in developing a data set aren’t eager to share it so that far-flung researchers can free ride on their work. But I’d like to advance another issue now being aired by the folks at Heterodox Academy: politically, science is becoming narrower, and that is making science weaker.

A few years back, a friend who is a securities lawyer, and therefore very interested in books on the financial crisis, asked me a very good

Science is going to need to do something about publication bias, and by extension, about the way that tenure and research funding are handed out. A new study intended to test a past conclusion is not unoriginal; it’s essential. We should respect and demand that kind of rigor across the sciences, not only for politicized topics. question: How does journalism guard against the possibility of false facts entering the data stream?

These tomes are extensively reported, and each has its nuggets of new information gleaned from many hundreds of hours of interviews.

Often interview subjects are hard to get to sit down, much less to go on the record. What happens if those interviews yield false information?

Journalists do, of course, attempt to guard against that sort of thing, for example by getting multiple sources. But we also get things wrong sometimes. And it would be folly to think that these errors are always exposed. When they are not, these “facts” get repeated until they are heard as facts.

There is one area, however, where a robust response is guaranteed, and that’s in politics. Publish something that makes one side of the political spectrum look bad, and you can be sure that the next day, there will be hordes of interns, reporters and political staffers devoted to exposing every last weakness in the argument. Had Rogoff and Reinhart published a few years earlier, it seems unlikely that they would have attracted the level of attention that they did from outside the slightly stuffy world of international public finance wonks. As it was, their work became the focus of a heated debate over stimulus, government spending and deficits—and their coding error quickly became big news.

When almost everyone in your field leans toward one side of the political spectrum, that reaction— that teeth-grinding, hair-pulling, eye-rolling “That can’t be right!”

—gets blunted.

Of course, it’s no fun having your work under attack by political partisans. I know: I’ve spent the last 15 years of my career in the fray, knowing that much of what I publish is going to get someone’s blood boiling, and their eyes scanning for mistakes.

And yet, for the profession as a whole, this is a good thing. It makes us more careful, and more important, it means that our inevitable errors are not immortal. Journalism has a lot of ways to protect against errors before publication, and it needs them all. Journalism also benefits from the hordes of folks who check us after we’ve done every check we can think of—because the cognitive biases to which all humans are prey mean that there are probably some checks we couldn’t think of.

Similarly, science is going to need to do something about publication bias, and by extension, about the way that tenure and research funding are handed out. A new study intended to test a past conclusion is not unoriginal; it’s essential. We should respect and demand that kind of rigor across the sciences, not only for politicized topics.

Free fire

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hina cheated at the Fiba game. China cheated with the connivance of Fiba, that too was clear as day. Never mind that the Chinese were 6'8", we were not badly off in that department. We’d just beaten the Iranians, just as tall, but with manners.

It was that eight times at least the Chinese blocked a throw. This is fine.

But the two Chinese referees chose to ignore them rather than give the Philippines two free throws for every foul by China. That’s 16 points right there. To be sure, the Philippines missed 11 free throws. They’d

have handily sunk them but for the maniacally howling Chinese.

Even our Australian coach told our players don’t bother with inside shots, take them outside. Yet, even those were blocked illegally.

Home-court advantage is fine but rigging the bus taking the

Wednesday, October 14, 2015

players to the game, stealing the tickets for coaches and staff, scalping them? Hey, I know the Chinese are business-minded but that’s fencing and woe, low.

To be sure, low is western allies giving Mindanao to Malaysia after forging a request for a Muslim homeland and mailing it to themselves, this on top of dropping our Sabah claim.

Chinese were not that low but came close. Picking two Chinese when international rules ban referees from competing countries, now that’s a new low. To be sure, bribing world sports organizations is now the rule rather than an objection, after Fifa sold the next games to Russia. On the other hand, our players scratched their balls and Chinese referees blew their whistles so hard that if they gave blow jobs they’d blow the tops off their clients’ heads.

This is worse than game fixing, which is discreet. And the loser goes away with money, like Filipinos signing up for the Bangsamoro basic law (BBL), for a share of the $500 million, still missing from the Malaysian PM’s $1.2-billion stash. But doing it au naturelle out in the open for the cheated to see it being done to them, that pierces the envelope of kababuyan.

Now there are many ways to deal with China on the South China Sea dispute, but two things are out of the question. One is fighting China to protect the freedom of navigation of allies who sold us downriver in the BBL they forged. The other is sitting down with China to talk at all. They will turn off the microphones and lip sync our “yes” to their demands in the officially released veedeeyoooo.

Keep well.

In defense of Meryl Streep–and of history

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By Johanna Neuman | TNS

ritish suffragette Emmeline Pankhurst was, to put it kindly, a rebel. Some, not so kindly, have called her a terrorist. On her watch, members of the Women’s Social and Political Union in England threw rocks at 10 Downing Street, set fire to post boxes, smashed windows in Knightsbridge’s luxurious shops, treated golf courses with acid, damaged the painting Rokeby Venus

by Velasquez, bombed Prime Minister David Lloyd George’s house and started a fire at the orchid house in Kew Gardens. A single-issue reformer, Pankhurst was, with her daughter Christabel, given to provoking violence, declaring at a speech at the Royal Albert Hall in 1912, “I incite this meeting to rebellion.”

A year later she proclaimed, “I would rather be a rebel than a slave.”

That quote has provoked anger among those who rail at the racial insensitivity in the sentiment.

When Meryl Streep, who portrays Pankhurst in the new movie The Suffragette, and costars Carey Mulligan, Romola Garai and Anne-Marie Duff wore the quote on T-shirts in a promotional pose for Time Out London, the backlash was immediate.

Civil-rights activist Deray McKesson argued that Streep should have known better “and if not, her publicist should have.” Noting that suffragettes often invoked the image of slavery to “ramp up the feelings of disenfranchisement,” historian Jad Adams concluded, “It’s certainly an inappropriate thing to have four white women wearing slavery T-shirts.” Writer Jamilah Lemieux may have best summed up the outrage when she tweeted, “White women have said a lot of terrible things over the course of history, doesn’t

mean you wear it on a shirt.”

There is no doubt that American slavery was the original sin of a nation founded on declarations of freedom, an evil that imprisoned millions of men, women and children. That British women in the 19th and early 20th centuries felt they too were chattel—without property rights, without rights over their children, without the opportunity to get educated or pursue careers, and without the power of the ballot—is also unquestioned. That some, like Pankhurst, gave moral equivalency to the two conditions is the real nub of the complaint.

In fact, the quote and the backlash serve to underscore what was real racism in the suffrage movement in the United States and Britain. Alice Paul, who imported some of Pankhurst’s tactics—though not the violence—to America’s Congressional Union (later the National Women’s Party), banned black suffragists from marching in the 1913

Civil-rights activist Deray McKesson argued that Streep should have known better “and if not, her publicist should have.” Noting that suffragettes often invoked the image of slavery to “ramp up the feelings of disenfranchisement,” historian Jad Adams concluded, “It’s certainly an inappropriate thing to have four white women wearing slavery T-shirts.”

parade in Washington. A valiant Ida B. Wells-Barnett traveled from Chicago and defiantly joined the Illinois delegation, marching alongside white activists.

The visceral racism of white suffrage leaders goes back even further, to 1869, when Elizabeth Cady Stanton and Susan B. Anthony campaigned against the 15th Amendment that enfranchised newly freed black men, criticizing Republicans for ignoring the rights of 15 million women while empowering 2 million black men who, as Stanton put it, “do not know the difference between a monarchy or a republic, who never read the Declaration of Independence or Webster’s spelling book.”

As Anthony noted in a letter to The New York Times, “The Republican Party has elevated the very last of the most ignorant and degraded classes of men to the position of master over the very first

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and most educated and elevated classes of women.”

It is true that the women’s movement grew out of abolitionism, which itself was an emotional and oratorical summoning of the religious revival called the Second Great Awakening. Abolitionism—framed in moral terms, led by Quakers and fueled by the Transcendentalism of Emerson and Thoreau—coincided with growing international sentiment to banish first the slave trade and then slavery itself. Britain banned slavery by legislative action in 1833. In America it took until 1865, after a Civil War that claimed more than 620,000 lives and devastated the economic and actual architecture of the South.

These wrenching changes to the national psyche did not make feminists any less prone to racism. Many women fought to abolish slavery, and then, in their quest for rights of citizenship, trod over those they had just championed. But criticizing a film—and, by extension, its stars and its marketing—for portraying the passion of the times, however illphrased, seems an attempt to erase a past that discomforts those of us in today’s audience.

Historians have a word for all of this. They call it “presentism,” an assertion that current values should be reflected in the telling of the past. The line in the film and on the T-shirts that so offended so many is a choice of perspective, not a sin, one based on a slice of the past that is inevitably our collective history.

2nd Front Page BusinessMirror

A8 Wednesday, October 14, 2015

PHL still not developing right skill sets for BPOs

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By Cai U. Ordinario

he ranks of young Filipinos not qualified for call-center jobs could increase in 10 years due to gap in the skills required by the business-process outsourcing (BPO) industry and the talent being produced by the educational system, the World Bank said.

In a study titled “Toward Solutions for Youth Employment: A 2015 Baseline Report,” the World Bank revealed that the ratio of underqualified workers to higher skill employment could reach 25 percent in the Philippines by 2025.

Apart from the Philippines, other Southeast Asian countries that will suffer from this are Vietnam and Indonesia, where the higher skills mismatch will increase to 10 percent and 65 percent, respectively.

“Having young people enter the work force with the skills required

for this work will be important for both the youth and for the country’s economic growth,” the report stated.

The World Bank said call-center jobs are considered medium-skill jobs in developed countries. Due to increased trade and offshoring, more of these jobs will be brought to developing countries in the next 10 years.

The bank said data from the International Labor Organization (ILO) showed low-skill occupations and nonroutine manual jobs make up more than 45 percent of total

employment. The ILO data also showed that medium-skill routine jobs accounted for as much as 37 percent. To meet the skills demand for these jobs, the World Bank said developing countries like the Philippines must train workers in broader but transferrable cognitive skills.

The Philippines must also be able to design a system of credible skills certification to allow workers to transfer positions and sectors.

The bank also said there is a need for a higher degree of computer literacy among workers. This is key especially for outsourced online support jobs.

The World Bank also highlighted the need to include soft skills, or more behavioral skills, in the training of workers. This, the bank said, will become more valuable in a services-driven economy.

“Task-based and short-term employment both require the ability to be flexible and adaptable to new situations, which is itself an important noncognitive skill,” the bank said. “However, it is important to keep in mind that the share of the work force actually impacted by

these changing skill requirements will }vary from country to country, which will, in turn, condition policy responses.” The World Bank said that globally, 1.8 billion young people are currently neither in employment, education or training. Of this number, only 40 percent are expected to be able to get jobs that currently exist.

The Washington-based lender said the global economy will need to create 600 million jobs over the next 10 years. This translates to 5 million jobs a month to keep pace with the projected youth employment rates. “Reversing the youth-employment crisis is a pressing global priority and the socioeconomic cost of inaction is high,” the World Bank said.

The bank added that today’s youth will not be able to escape poverty by 2030 if they do not have a means of employment.

New targets related to youth employment in the United Nations Sustainable Development Goals (SDGs) reflect this recognition and desire for change. The report helps track the SDGs by providing a baseline against which to measure progress.

‘APEC COOPERATION ON ENERGY INFRA RESILIENCE A MUST’

By Lenie Lectura

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actan Island, Cebu— The chairman of the 12th Apec Energy Ministers’ Meeting (EMM12) on Tuesday morning strongly urged the delegates from member-economies to conduct a vulnerability assessment of energy infrastructure among AsiaPacific Economic Cooperation (Apec) economies that fall victims to natural and human-induced disasters.

In her welcome remarks, Zenaida Monsada, officer in charge of the Department of Energy, said a vulnerability assessment will determine the costs of disasters to energy infrastructures. She stressed that the conduct of an assessment will help avoid disasters and“create cooperation and share best practices that will guide policy and program decisions to ensure reliable and sustained production.”

“We are very much aware of the ill consequences brought about by natural and man-induced disasters to people’s lives, poverty, businesses and economies’ resources. The higher levels of frequencies and intensity of these disasters have

San Miguel may raise $1B via preferred shares

BusinessMirror media partner

caused an alarming call even for the most advanced and the most prepared economies,”Monsada said.

Sen. Loren Legarda, a guest speaker during the Apec EMM12, said Apec and its member-economies need to cooperate with the private sector toward fostering public-private partnerships that will encourage the adoption of appropriate standards for critical energy infrastructure.

“Our experiences with Typhoon Haiyan [local code name Yolanda] in 2013, whose intensity is unmatched in recent history, give us crucial lessons. The total damage to the electricity sector then was estimated at $155 million.

See “Apec,” A2

Steel protests seen halting record trade from China

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an Miguel Corp., the Philippines’s largest company, is considering raising as much as $1 billion by selling local-currency preferred shares and using the proceeds to repay dollar debt, as it seeks to trim its foreign liabilities amid a weaker peso.

“We can still do a sale this year,” President Ramon S. Ang said in an interview late Monday. “A lot of investors are looking to buy more [San Miguel-preferred shares]” he said, declining to elaborate.

San Mig uel, a centur y-old company that’s over the years transformed from a brewer to an investor in oil, power and infrastructure, raised P33.5 billion ($729 million) selling preferred shares in September at P75 apiece.

That offering was five times oversubscribed and proceeds partly refinanced P54 billion of similar securities due that month.

The peso is expected to weaken 3 percent to 47.20 a dollar by the end of the year from Monday’s close of 45.80, according to a median estimate in a Bloomberg survey. The currency has depreciated 2.7 percent since December 31, making it more expensive for companies in the Southeast Asian nation to service their dollar-denominated debt.

That’s put pressure on San Miguel’s earnings, even amid gains from its oil refining and beer and liquor businesses. Profit in the first half fell 8 percent from a year earlier, the company said in August.

Excluding the impact of foreignexchange movements, recurring profit rose 15 percent.

San Miguel has some $13 billion equivalent of bonds and loans outstanding, according to data compiled by Bloomberg. Of that, US currency notes total $6.8 billion, with a weighted average fixed coupon of 5 percent. The company is seeking to at least double its revenue over the next five years to between $40 billion and $50 billion, via both acquisitions and organic growth, Ang told reporters in Manila last month. Its stock has slumped 35.3 percent this year versus a 1.9percent decrease in the country’s benchmark stock index.

www.businessmirror.com.ph

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he flood of cheap steel exports from China that’s hurt prices and damaged mills’profits around the world will probably peak this year as producers step up complaints, according to the South East Asia Iron & Steel Institute, as figures on Tuesday showed record shipments last month.

More than 20 trade cases have been lodged against China’s cargoes, with about seven from Southeast Asia, Chairman Roberto Cola said in an interview.

Efforts within China to stem local steel output to protect the environment may also help curb overseas sales, said Cola, who spent more than three decades in the industry. Mills in the world’s largest producer have shipped unprecedented volumes this year as demand slowed at home. While the exports have acted as a safety valve for Chinese mills, enabling them to sustain production, they’ve spurred a surge in trade tensions from Asia to the US amid complaints the exports are unfair. Mills in Southeast Asia are now running at less than 50 percent of capacity, according to Cola.

GETTING CREATIVE Arts and Creative Industries East Asia, British Council, Singapore Regional Director Katelijn Verstraete keynotes the First Philippine Multi-Disciplinary Summit on Creativity and Innovation, dubbed as “Get Creative,” with her presentation “Creativity in the 21st Century.” The summit was organized by Likha Pilipinas held at the Cultural Center of the Philippines in Pasay City.

Congress makes final push for income tax-reform bill Continued from A1

“There’s still chance that this proposal will be passed at the lower chamber this 16th Congress. It is the first of several steps under our comprehensive package that would benefit both the government and the people,” Quimbo said.

Quimbo said included in the comprehensive package are the so-called revenue-generating measures, such as the bill raising the excise tax on fuel; measure simplifying tax requirements of professionals and entrepreneurs; reduction of tax rates for both individuals and companies; measure overhauling the value-added tax system; Rationalization of the Mining Fiscal Regime bill; and bill imposing specific tax on sodas and other sweetened beverages.

“Speaker Belmonte and Senate President Drilon have a common position that, first, tax reform cannot take place piecemeal. Just like what we’ve

been saying, it has to be a package or programmatic.

The entire thing has to be overhauled. But it does not mean that we cannot take steps toward that objective, meaning we have the first phase,econd phase, third phase [to complete the comprehensive package]. So that is where we convinced them and they will present that with the President,” Quimbo said.

When asked if it is a compromise between Congress and the Executive after Malacañang rejected the bill lowering the income-tax rates, Quimbo said, “Not exactly because that has really been my proposal as a first of several steps.”

Malacañang, taking the cue from the Department of Finance, has rejected the passage in Congress of a long-pending bill mandating adjustments in individual and corporate income-tax rates, saying the government “cannot put our fiscal sustainability and credit rating at risk by doing piecemeal revenuereducing legislation.”

See “Steel,” A2

Govt sets P19.2-B budget for El Niño interventions

I

nterventions to mitigate the impact of El Niño on 66 provinces will require P19.2 billion, according to the National Economic and Development Authority (Neda).

Economic Planning Secretary and Neda Director General Arsenio M. Balisacan, who also chairs the El Niño task force, said the budget required for the remainder of this year is P7.5 billion and P11.7 billion next year.

“This is still very, very tentative, these are indicative amounts that we’ll discuss with the agencies, but it’s amounting already to something like P19.2 billion, covering both the remaining months of this year and [first half ] next year,” Balisacan said.

He said the government has already identified seven provinces that are affected by the El Niño. These are Quirino, Aurora, Quezon, Bohol, Siquijor,

Camiguin and Misamis Oriental.

By the end of the month toward November 2015, Balisacan said the number of provinces affected by the drought will more than double to 16 provinces.

By the end of the first semester next year, some 66 provinces nationwide are expected to have been affected by the El Niño.

To address the needs of these provinces, Balisacan said the government will implement cash-for-work programs, which are estimated to cost P2.9 billion this year and P7.3 billion in the first semester of next year.

The cash-for-work programs will be implemented by the National Irrigation Administration (NIA), the Departments Public Works and Highways, Labor and Employment, Trade and Industry, and the Technical Education

and Skills Development Authority.

Apart from these programs, the government will also be allocating some P3.75 billion for water management, particularly for farm production.

Balisacan said P1.75 billion will be spent by the Department of Agriculture, NIA, and the Department Environment and Natural Resources in the remaining months of this year. The bulk or P2 billion is allocated for the first semester of 2016.

Further, Balisacan said the Department of Social Welfare and Development will also be introducing food stamps to farmers or those in allied industries that may also be affected by the drought. This intervention, he said, will require a budget of P1.3 billion for the remaining months of 2015 and P1.9 billion for the first semester of 2016.

Cai U. Ordinario