BusinessMirror December 18, 2019

TIME FOR P20 BILLS AS GIFTS GONE SOON

By Bianca Cuaresma @BcuaresmaBM

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EADS up, ninongs and ninangs! This may be your last year to pass those new P20 bills as Christmas aguinaldo.

On Tuesday, the Bangko Sentral ng Pilipinas (BSP) launched the new P20 coin, as part of its efforts to make the production and circulation of cash more efficient.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno releases the new 20-peso coin with the image of former President Manuel L. Quezon and the enhanced 5-peso coin with nine sides and bearing the image of Andres Bonifacio on Tuesday. The 2-tone, nickel and bronze-colored 20 peso coin will be circulated this year before Christmas. NONIE REYES

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The new P20 coin is now the highest denomination in the New Generation Currency (NGC) Coin Series, the new coin series launched in 2018.

According to the central bank, the new P20 NGC coin shall coexist as legal tender with the currently-circulating P20 NGC banknote, which will be removed from circulation through natural attrition.

BSP Governor Benjamin Diokno said the decision to convert the P20 denomination from a banknote to a coin stems from the heavy usage of the P20 bill, thereby rendering it to more wear and tear.

According to a study by the University of the Philippines, the P20 banknote is the mostused denomination for payments across the country. As a result, it is easily rendered unfit

Wednesday, December 18, 2019 Vol. 15 No. 69

Traffic busters: Quota on car ownership, tax ₧3.5B A

By Cai U. Ordinario

In an Asian Development Blog, ADB Economic Research and Regional Cooperation Department Senior Economist Yi Jiang said the use of coding schemes are no longer sufficient given the extent

of congestion being experienced in cities.

“Gover nments should control the growth of car ownership through a quota system. Some people’s privilege to buy a car must

be delayed,” Jiang said.

“To be fair, the existing owners should be charged an additional annual fee for owning a vehicle. Coding schemes that allow driving on four out of five weekdays per week

Look and feel According to the BSP, the new coin retains major elements of the P20 banknote, as the coin’s front side features Manuel L. Quezon, the first president of the Philippine Commonwealth.

Its reverse side shows the BSP logo and Malacañang Palace, the official residence of the Philippine President.

Quezon was the first Philippine president to occupy it in his term.

See “P20 bills,” A2

P25.00 nationwide | 5 sections 36 pages |

PHL RISES 8 RUNGS IN GLOBAL FINTECH INDEX

By Elijah Felice E. Rosales

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@BNicolasBM

S private water concessionaires were reported to be halting further highinvestment, loan-funded projects amid uncertainties over the 15-year extension of their 1997 agreements with the government, Malacañang insisted on Tuesday that the revocation of the extension—until 2037 —still stands.

This, despite reports quoting Metropolitan Waterworks and Sewerage System (MWSS) Administrator Emmanuel Salamat as saying that the extension of the concession deals until 2037 has not been “outrightly revoked” but is still up for renegotiation.

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo told reporters in an interview on Tuesday that the concession deals would expire in 2022 since MWSS has already revoked the extension.

“The issue was it was extended prior to its maturity, right? And according to MWSS, they revoked the extension so it means that the original expiration would now be applied,” Panelo said.

Moreover, the Palace is also unfazed that the capital expenditure program of Maynilad is now put on hold since the banks have suspended lending money to the water concessionaire. “I do not think the concessionaires lost with the

PESO exchange rates n

business venture. They have profited so much out of this concessionaire agreement which is precisely why the government is complaining because of the onerous provisions.

They did not file [corporate] income tax. They were in control of the rates, so how can you say that they lost?,” Panelo said.

While Maynilad said it can finance its current projects, the shortening of the concession term prevents it from commencing new projects to improve the system, as the banks have suspended lending money they would have used to finance a new capex program, according to its disclosure to the Philippine Stock Exchange through parent company Metro Pacific Investments Corporation (MPIC).

Maynilad’s capex program includes the Putatan Water Treatment Plant and the Dagat-dagatan Sewage and Septage Treatment Plant.

Maynilad Vice Chairman Isidro Consunji also said earlier that the concessionaires may have to declare bankruptcy should the extension be cancelled. Consunji said Maynilad’s loans amount to P42 billion.

The President has been lambasting the water concessionaires after the Permanent Court of Arbitration (PCA) in Singapore ordered Manila to pay east zone concessionaire Manila Water P7.39 billion for the non-implementation of water-rate increases that occurred prior to his presidency.

@alyasjah

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seem inadequate,” he added.

These efforts must also be accompanied by “indispensable” measures, such as higher parking tariffs, gasoline taxes and congestion fees.

The government and private firms must also allow work from See “Traffic,” A2

See “Fintech,” A2

Estimated daily economic cost of traffic in Metro Manila in 2018, per the Japan International Cooperation Agency (Jica). It earlier estimated the cost at P2.4 billion per day in 2012; and projects this at P5.4 billion by 2035

Palace insists: extension of ’97 water deals is off

By Bernadette D. Nicolas

HE Philippines has improved its financial technology (fintech) ratings by eight notches in the Global Fintech Index 2020, but was kept at the lower end of the group when compared with its Southeast Asian peers.

In the 2020 edition of the yearly index, the Philippines obtained a score of 8.831 to climb eight places to 46th. This landed the country fourth in the region, where six economies overall were included in the rankings.

The Philippines fell behind Singapore at third, Malaysia at 36th and Thailand at 39th, but was slightly ahead of Indonesia at 47th and Vietnam at 51st.

In terms of city, Manila was among the three Southeast Asian cities that got in the top 15 in the Asia-Pacific region for its viability for fintech business and transactions. Along with Manila, Singapore City (first) and Jakarta were included on the list.

In Asia-Pacific, Manila was also in the company of Bangalore, Mumbai, Hong Kong, Sydney, New Delhi, Tokyo, Beijing, Seoul, Shanghai, Melbourne, Pune and Hyderabad. Further, the Philippines was listed among the watchers—the group of economies from Africa, Asia and the Middle East that fintech firms should watch out for, being fast-growing communities in spite of investment challenges.

“The countries here are all fast-growing fintech destinations with much higher Fintech Index rankings than their Global Startup scores—and picked for their combination of local entrepreneurial success, regulatory foresight and the early signs of a growing local fintech ecosystem,” the index read.

@caiordinario

S the holiday traffic ensues, experts from the Asian Development Bank (ADB) said imposing a vehicle ownership quota in congested Asian cities like Metro Manila could provide city dwellers some reprieve from their traffic woes.

for circulation and returned to the BSP for replacement. “The use of the P20 coin is more cost-efficient to produce as it will have a longer circulation life than a P20 banknote,” the BSP said.

CA confirms Dar as DA secretary

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Services Inc., dropped as much as 8 percent. “ T he gover n ment a l ready agreed to the terms of the current contract, and now they want to change it,” said Lexter Azurin, senior analyst at AB Capital Securities in Manila. “That’s a big no-no for foreign investors.”

HE Commission On Appointments swiftly confirmed by unanimous vote Tuesday the ad interim appointment of Agriculture Secretary William D. Dar. In endorsing Dar’s early confirmation, Senator Francis Pangilinan recalled the DA chief’s decision that starting next Monday, farmers in 33 rice-producing areas most affected by low palay prices due to the rice tariffication measure will get an initial P5,000 cash grant from the government. Pangilinan said he would rather call it cash compensation, “as it represents payment for the miseries that farmers face today.”

Pangilinan earlier sought various relief options, including this much-needed compensation, starting August—when he delivered a privilege speech on “the plight of the men and women who feed the country.”

The senator, a former presidential adviser on farm modernization in the past administration, recalled that four months ago, “we have repeatedly called attention to the calamitous effects of the rice tariffication law in two resolutions, a supplemental budget bill, and a number of public statements—all seeking to urgently address the emergency situation that has befallen our rice farmers.”

See “Stock rout,” A2

See “Dar,” A2

CHRISTMAS GLOW What does it take to put together this scene for an IG-worthy holiday photo at Resorts World Manila’s (RWM) LUMINA X? A total 100,000 glowing lights. They make the centerpiece, 20-meter giant Christmas tree come alive with Christmas cheer. Guests may visit LUMINA X from 5:30 p.m. onwards to experience RWM’s Yuletide thrills. Other Grand Fiesta Manila events include weekend Indoor Light Parades, Santa Claus’s gift-giving, and Christmas carols from the UP Singing Ambassadors until December 22. Free shows and a free Christmas Day concert at Newport Mall have also been lined up. CONTRIBUTED PHOTO

Stock rout hits $2.7B on shock water firms’ dispute

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HILIPPINE regulators plan to cut government guarantees and increase oversight when they negotiate with the capital’s two water suppliers. Manila Water Co. slumped by a record.

If talks fail, the government has the option to bid out Metro Manila’s water service when the contracts expire in 2022, Metropolitan

Waterworks and Sewerage System (MWSS) chief regulator Patrick Ty said in an interview.

Manila Water sank as much as 39 percent on Tuesday, the biggest drop on record. While share prices have recovered slightly, they are still headed for their lowest close since 2006. DMCI Holdings Inc., a shareholder of Maynilad Water

US 50.6140 n japan 0.4620 n UK 67.5545 n HK 6.4956 n CHINA 7.2358 n singapore 37.3590 n australia 34.8528 n EU 56.4093 n SAUDI ARABIA 13.4956

Source: BSP (17 December 2019 )

News

BusinessMirror

A2 Wednesday, December 18, 2019

Zaldy Ampatuan ordered back to jail from hospital

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By Joel R. San Juan

@jrsanjuan1573

HE judge handling the Maguindanao massacre case has ordered the immediate return of former Autonomous Region in Muslim Mindanao (ARMM) Gov. Zaldy Ampatuan from the Makati Medical Center (MMC) to his detention cell in Camp Bagong Diwa, Taguig, three days before the scheduled promulgation of the case.

Zaldy, his brother Datu Andal Ampatuan Jr., and 99 other accused are awaiting the verdict to be issued by Quezon City Regional Trial Court (RTC) Branch 221 Presiding Judge Jocelyn Solis-Reyes on December 19, for the 2009 multiple murder case, which shocked the world as the single-biggest incident where media workers were killed.

More than 30 of the 58 people killed there were journalists and media workers, who had accompanied a convoy of the Ampatuans’ political rival, then enroute to the local Commission on Elections for the filing of candidacies.

Zaldy was rushed to the Taguig Pateros District Hospital on October 21, 2019, after losing consciousness and suffering from weakness on the left side of the body.

Dar. . .

Continued from A1

Pangilinan pointed out that Dar’s decision to resort to cash compensation was “a good start and, hopefully, a start of much-needed interventions to support our farmers,” adding that they also wish to “thank the man of the hour, Agriculture Secretary Willy Dar, as well as Finance Secretary Sonny Dominguez, for sitting down with us several times to figure out where to get the money to address this crisis they now face—and more programmatically later.”

The CA confirmation came four months after President Duterte appointed DAR as the head of the agency in August. A comebacking agriculture chief, whose first stint was remarkable for the record growth of the sector, Dar’s entry into the DA plunged him outright into two hotbutton issues—the birth pains from rice trade liberalization’s implementation; and the entry of African swine fever (ASF), threatening the country’s P200-billion hog industry.

In a statement following the CA move, Dar vowed to lead the farm sector “toward sustainable food security and prosperous rural communities.”

Dar said he would bank on on his “several decades of leadership and management experience from various local and international agricultural research organizations” that he served in achieving this goal.

“Our goal is two-fold. First, we aim to establish a food-secure Philippines where food is plentiful at competitive prices for consumers in the domestic front. Second, we want to assure our farmers and fishermen greater earnings by making them net exporters of food,” he said on Tuesday.

‘Servant leadership’

Dar, who served as a DA chief from July 1998 to May 1999 under the Estrada administration,

He was subsequently transferred to the MMC for treatment and has been confined at the said hospital for more than 40 days already.

G o v e r n m e n t p r o s e c u t o r s moved for Zaldy’s return to Camp Bagong Diwa considering that the promulgation of the Maguindanao massacre case is nearing.

T hey e x pressed apprehension that the former governor might think of escaping prior to the court’s announcement of its verdict.

Lawyers: Zaldy too weak for jail

In countering the government prosecutors’ motion, the accused insisted that his return to jail would be prejudicial to his health since, based on the doctor’s latest examination, he suffered another “acute infarct” or stroke.

In ordering his return to jail, said he will “reintroduce” his “own brand of servant leadership” that is characterized “by a sincere desire to serve others and to collaborate for greater good.”

During his tenure from 1998 to 1999, the agriculture sector posted a 9.6-percent growth, a feat that has never been equaled.

Dar was also the founding director of the Department of Agriculture’s Bureau of Agricultural Research from 1987 to 1994.

He also served as executive director of the Department of Science and TechnologyPhilippine Council for Agriculture, Aquatic and Natural Resources Research and Development from 1994 to 1998.

He was a former director general of the International Crops Research Institute for the Semi-Arid Tropics (Icrisat) based in India.

In his 15 years as Icrisat director general, he also championed and institutionalized an overarching strategy called the Inclusive Market-Oriented Development, in which farmers become active participants for their own welfare.

Dar also served as presidential advisor on food security in 1999 and executive director, National Agricultural and Fishery Council in 1998.

Pangilinan predicted that from Dar’s background—both in his personal history and in his professional experience—he would “do well in the job for the benefit of millions of Filipinos who work in agriculture.”

He recalled that Dar graduated with a degree in Agricultural Education from the then-Mountain State Agricultural College, now the Benguet State University.

Three years later, he graduated with a Master of Science in Agronomy from the same university. And a mere four years later, he earned his PhD in Horticulture from the University of the Philippines Los Baños —the youngest PhD graduate of UPLB at that time, at the age of 27.

Upon assuming office in August, Dar introduced his paradigm of “New Thinking for Agriculture” as a cornerstone of his second stint as agriculture chief.

This development framework of his focuses on agro-industrialization, sustainability and climate resiliency to respond to the agriculture sector woes, according to DA. Dar replaced Emmanuel F. Piñol, who was named by Duterte to become his point man in the Bangsamoro region last August. Butch Fernandez and Jasper Emmanuel Y. Arcalas

Solis-Reyes noted that based on his medical abstract/discharge summary, the former governor is already stable with no more complaint of dizziness and headache.

The medical report also indicated that the accused is ambulatory, and that his lower extremities are stronger than the upper ones.

“This being the case, the court finds that there is no longer need for accused-movant to remain in the hospital as the procedure during rehabilitation session can be done to him as an outpatient,” the judge said in a three-page order issued on December 16.

The trial court said unless his attending physicians execute a certification that his return to the detention will endanger his life, the motion of the government prosecutors should be granted.

The trial court directed the jail warden of Quezon City Jail-Annex, Camp Bagong Diwa, Bicutan, Taguig City, to immediately transport Zaldy to the said detention facility.

DOJ chief: We did our best

Relatedly, Justice Secretary Menardo Guevarra on Tuesday assured the public that government prosecutors gave their best to secure a conviction of the 101 accused in the multiple murder case in connection with the gruesome Maguindanao massacre which left 58 people dead, including 32 journalists.

Guevarra, however, said he could not comment on the possible

Traffic. . .

Continued from A1

home arrangements and flexible work schedules.

Based on ADB’s estimates, cities like Metro Manila, Kuala Lumpur, and Yangon City topped the list of the 25 congested cities in developing countries.

On average, the ratio of driving durations during rush hours to offpeak hours across 400 randomly selected routes range from 1.7 hours and 1.9 hours in these cities.

ADB said this means drivers need to spend almost 100 percent more time during peak hours in the most congested city, Metro Manila.

₧20 bills. . .

Continued from A1

Also consistent with the NGC Coin Series, which highlights native flora, the P20 coin showcases the Nilad, the plant from which the name of the country’s capital, Manila, is believed to have originated.

The P20 coin is also bicolor—of silver and bronze—to easily distinguish it from other coins in the series. It also has microprints and an identifiable edge to deter counterfeiting.

New P5 coin

Following the NGC Coin Series’ launch in 2018, the BSP has received flak from local citizens, claiming that the new coins are hard to distinguish between denominations.

In particular, while the previous P10 coin is bicolor, the P5 was gold and the P1 was silver,

Fintech. . .

Continued from A1

The index listed payments systems, enabling processes and technology, as well as banking and lending, as the strengths of the Philippines.

The country also recorded a total value for all its fintech transactions in 2018 at $96.8 million.

Also, the index noted local fintech firms GCash, Coins.ph and Ayannah are starting to grab the headlines, making the community noticed by the general public.

Deep diving into the fintech ecosystem, the index said the accelerators and incubators of

outcome of the decision to be handed down by Solis-Reyes.

“I cannot comment on that because I might preempt the promulgation. I have no idea as to how it will go but what I can say is that the prosecutors presented all that it can. It did its best. That is all I can say,” Guevarra said.

“As to how the Judge will appreciate the evidence, I am not sure about that so let’s go through it and see,” he added.

The promulgation will be held inside Camp Bagong Diwa, Taguig City, at 9 a.m.

The November 23, 2009, massacre claimed the lives of journalists accompanying supporters of now-Maguindanao Rep. Esmael Mangudadatu in filing his papers to run for the post of Maguindanao.

He was set to challenge against Andal Ampatuan Jr., son of then-Gov. Andal Ampatuan Sr. The convoy was blocked by armed supporters of the Ampatuans and brought to the town of Ampatuan where they were slaughtered and buried in a hastily dug grave, with the use of a local government backhoe.

Murder cases were originally filed against 197 accused, of whom 15 bore the Ampatuan surname.

A total of 117 people were arrested including prominent members of the Ampatuan clan. Seven died while in detention, including former Gov. Ampatuan Sr. At least 80 accused are still at large.

“Congestion is a textbook case of market failure due to externalities.

It is imperative that governments play a pivotal role in fighting congestion. For many emerging cities, it is an uphill battle that demands resolution and capacity of the government,” Jiang said.

The Japan International Cooperation Agency (Jica) earlier estimated that traffic in Metro Manila costs P2.4 billion per day in 2012; P3.5 billion in 2018; and P5.4 billion by 2035.

Last year, former Jica Chief Representative to the Philippines Susumu Ito said the “Build, Build, Build” program will reduce the costs to around P3 billion a day and with additional projects, P2.4 billion a day. in the new series all of the coins were silver.

On Thursday, the BSP also announced that is has enhanced the design of the P5 coin to“make it more distinct” from other denominations in the NGC Coin Series.

“This reaffirms BSP’s commitment to not only uphold the highest standard of excellence, but also listen to the public’s observations as it endeavors to bring central banking closer to the people,” Diokno said.

Instead of being round like the other denominations, the new P5 now features nine sides on its edges.

The 5-piso coin also retains the design elements of the round NGC coin, with Andres Bonifacio, the father of the Katipunan, on the front side and the Tayabak plant, on the reverse.

It also retains the security features of the round coin, including the microprints “Republika ng Pilipinas” and “Bangko Sentral ng Pilipinas.”

local fintech firms are the Fintech Philippines Association, Asean Fintech Council, Securities and Exchange Commission, and the Cagayan Economic Zone Authority. The Central Bank’s regulatory sandbox, on the other hand, was cited as a fintech-friendly rule.

Included in the watchers list here are Kenya, Cyprus, Vietnam, Nigeria, Peru, Ghana, Bangladesh, Uganda and Lebanon.

US is tops

Topping this year’s index was the United States, which was cited for its payments systems, business-to-business fintech transactions and overall security.

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Salceda: House version of ‘sin’ tax better than Senate’s Continued from A8

The bill said cooking wines with salt content of not less than 1.5 grams for every 100 milliliters will be exempted from excise tax.

Meanwhile, the tax on still and carbonated wines with lower than 14-percent alcohol content was increased by P2.10 (from P37.90 to P40), while those with an alcohol content higher than 14 percent saw a P4.10 increase effective on January 2020. It will be increased by 7 percent every year thereafter.

Also, the approved tax rate on fermented liquors was P28, or P2.60 higher than the P25.40 tax rate mandated by RA 10351. It will be increased by 7 percent every year thereafter.

Tobacco products

Under the House bill, heated tobacco products or the so-called ecigarettes, will now be levied P45

Stock rout. . .

Continued from A1

Wiped out The uncertainty has wiped out more than $2.7 billion from the market value of the water utilities and their parents.

It is also a reminder of contract disputes and regulatory flip flops in the past that led companies from Fraport AG to Suez SA to leave the Philippines, and may threaten the country’s ability to compete with peers from Indonesia to Vietnam for investment.

The contract extensions of Manila Water and Maynilad to 2037 have not been canceled yet, even after the regulator revoked a 2008 order authorizing the agreement, Ty said.

“It was a process to start the renegotiation,” Ty said in Manila. “As far as we are concerned, it is status quo until a new agreement is crafted.”

The government will begin the negotiations in January, Philippine Daily Inquirer reported on Tuesday, citing Justice Secretary Menardo Guevarra.

Manila Water has said it’s more than willing to discuss issues in its contract.

Metro Pacific said in a disclosure on Monday that banks have stopped lending to Maynilad amid uncertainty over its concession. Maynilad expects to make 86 percent of its P34.7 billion ($686 million) in loan repayments from 2023 onward, according to its latest annual report. A quarter of

‘Sin’ taxes. . .

Continued from A8

More expensive spirits In the approved Senate version, P26 will be the specific tax for distilled spirits and alcopops in 2020 plus 50 percent of the net retail price (NRP). By 2021, the specific tax will be P30 plus 50 percent NRP. It will be adjusted to P33 plus 50 NRP in 2022; P37 and P41 plus NRP in 2023 and 2024, respectively.

For sparkling wines, the measure seeks to impose a specific tax of P50 for 750-milliliter bottle with a NRP of P500 or more beginning next year. By 2021 onwards, the P50 rate will be increased annually by 6 percent.

For still wines and carbonated wines, the same P50 specific tax rate will be imposed next year, and it will have a 6-percent increase beginning 2021.

In the case of fermented liquor, a specific tax rate of P35 per liter will be imposed next year, and it will have a yearly P2 per liter increase until it reaches P43 in 2024. By 2025 onwards, it will have an annual increase of 6-percent.

The Senate version adopted the amendments made by Senate President Pro Tempore Ralph Recto on the excise tax rates of heated tobacco products (HTPs), imposing P22.50 per pack next year, P25 in 2021, P27.50 in 2022 and P30 in 2023.

From 2024 onwards, the P30 excise tax rate for HTPs will have an annual

per pack of 20 beginning January 1, 2020; P50 in 2021; P55 in 2022; and P60 in 2023; with a 5-percent yearly increase effective January 1, 2024.

For vapor products, individual cartridge, refill, pod or container of its liquid solutions or gel will now be charged P10 per 10 milliliters (ml).

If the product being sold is more than 50ml, it will be charged P50 excise tax plus P10 per additional 10ml.

The rates imposed on vapor products shall be increased by 5 percent every year effective January 1, 2024.

The measure also provides excise taxes on nicotine salt and classic nicotine from P30 to P45 from 2020 to 2023, respectively, and an additional 5 percent after 2024.

The bill also carries stiffer penalties against illicit tobacco trade, with the monetary fines.

Manila Water’s P51.3 billion in debt is due from 2023 onward.

New deals President Duterte has said he wants new deals signed with Manila’s two water providers after they sued the government for blocking tariff hikes. An international arbitration court ruled in their favor and ordered the Philippines to pay them P10.8 billion in foregone revenue. Both Manila Water and Maynilad have since dropped their claims.

If negotiations fall through, the MWSS could “reprivatize”the water service, similar to what it did in 2007 when it bid out the Maynilad contract after Benpres Holdings Corp. and France’s Suez SA filed for rehabilitation, Ty said.

“There is a template that we can use already. All the creditors were paid. It shouldn’t be a cause for concern for any of the investors,” he added. “We have done this before, and we can do it again.”

According to Ty, the government wants to scale back “protections” granted to concessionaires and empower the regulator to penalize them when they fall below performance benchmarks.

Under the original contract signed in 1997, performance guarantees and a “long” 25-year concession period were likely needed to lure companies to join what was then the world’s largest water privatization effort, but they are unnecessary today, he staid. Bloomberg

increase of 5 percent. For vape products, proposed rate is P45 per 10 milliliter and the rate is to increase by P5 per year until it reaches P60 in 2023.

By 2024 onwards, the P60 tax rates will be increased annually by 5 percent under SB 1074.

Vape taxed like tobacco The measure will have vape products in the same tax rates as conventional tobacco products which will have a P45 per pack excise tax next year.

Senators moved to scrap the proposed imposition of excise taxes on the tobacco heating systems and vapor products device as they viewed this difficult to implement administratively.

Amendments also introduced during Wednesday night’s deliberations include the imposition of higher penalties to those who will engage in illicit trade of HPTs and vape products.

The penalties will be 10 times higher than what is provided in the existing laws, or from P50,000 to P500,000 and imprisonment of two years to four years.

Senators also included a provision restricting the selling of vape products to those 21 years old and below.

The approval came less than a month after Duterte certified the immediate enactment of the measure, citing the urgent need to generate additional revenue to support the effective implementation of Republic Act 11223, or the Universal Health Care (UHC) Act that he signed into law last February 20.

A4 Wednesday, December 18, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

DOE launches first renewable-energy on-line trading platform in Philippines

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By Lenie Lectura

@llectura

HE Department of Energy (DOE) on Tuesday introduced an on-line trading platform for renewable energy (RE) with the intention of making this commercially available starting next year.

“Today marks a momentous event for the country’s renewableenergy landscape, as we introduce the Philippine Renewable Energy Market System that will be used by the RE Registrar to track, monitor, and assess the implementation and compliance to the Renewable Portfolio Standards Rules [RPS] for both on-grid and off-grid areas,” said Energy Secretary Alfonso G. Cusi in a speech delivered during the unveiling of PREMS in Makati City.

The PREMS, as an on-line enterprise platform, will facilitate market competitiveness, efficiency, and transparency in the trading of RE certificates, based on the REM (Renewable Energy Market) Rules.

“By the first of January next year, the RE Registrar, as I’ve mentioned earlier, will be able to use the PREMS as a tool to ensure that industry participants comply with RPS requirements and other policy mechanisms provided for by the

Renewable Energy law,” Cusi added.

In hopes to usher in new era of RE development, the RPS mandates distribution utilities (DUs) to source a minimum portion of energy from renewable sources, thus, guaranteeing a market for RE generators. This minimum portion will be increased on a yearly basis.

“It will start in 2020. The RPS rules state that every year DUs should source at least 1 percent of their requirement from RE. That is what the PREMS will monitor.

It will also be the venue where RE certificates will be traded,” according to Energy Assistant Secretary Redentor Delola.

Cusi said the creation of the PREMS highlights the prospects of the country in empowering the Filipino to venture further into the modern trends that include smart metering, micro grids, blockchain utilization, and the global movement toward sus-

tainable energy technologies.

“Our aim as a nation is not only to garner gold medals in international sporting events, such as the recently concluded SEA Games.

What we should strive for is for the Philippines to emerge as a champion in clean indigenous energy utilization,” he said. “We will not stop here and rest on our laurels, because the PREMS is just another milestone.

Rest assured, we will continue to find more avenues that will help our nation establish a more advanced and robust energy future.”

Consumer groups, meanwhile, reminded the DOE about President Duterte’s marching order to the DOE last July.

“In July, the President’s marching orders for the development of renewable-energy sources was a cause for joy to coal-affected communities, power consumers, and clean energy advocates across the country.

Half a year later, and with barely any evidence of compliance from the energy secretary whom he specifically addressed to carry out the reduction of our country’s coal dependence, we ask the President to give us another reason to be glad this holiday season.

“It is high time for him [President Duterte] to give teeth to his renewable-energ y pronouncement by issuing an executive order to end coal. It is high time, too, to initiate the overhauling of Epira [Electric Power Industry Reform Act] to give way to legislation that

Dominguez to agri sector: Think out of the box to boost farm yield

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

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AVAO CITY—The agriculture sector needs to sustain its growth to at least 2 percent every year to keep pace with the needs of the population that grows annually at 1.7 percent, Finance Secretary Carlos Dominguez III said.

Speaking at the “Sulong Pilipinas Agribusiness Summit” here on Monday, Dominguez said the agriculture sector “needs to grow by a least 2 percent each year to keep ahead of the country’s annual population growth of around 1.7 percent.”

But to make this immediately doable, Dominguez said, reforms must be done now as he called on stakeholders in the agribusiness sector “to think out of the box and come up with bold ideas to help the government [rouse] Philippine agriculture from its stupor and finally transform it into a key growth driver to let the domestic economy accelerate to a full gallop.”

“Clearly, there is much growth potential in our agriculture that requires policy support. Enhancing the growth of this sector is like waking up a sleeping giant that will help us make larger strides in our overall economic growth,” he said. “Now is the perfect time to plant the seeds that our children and grandchildren will reap in the years to come,” the agriculture chief added.

Dominguez said actionable recommendations from previous Sulong forums have started yielding tangible results, “as shown by the significant decline in poverty incidence from 23.3 percent in 2015 to 16.6 percent in 2018.” The Department of Finance said this number is about 5.9 million Filipinos lifted out of poverty in three years, which was close to the government’s 6 million target by 2022.

However, Dominguez said “the stagnant productivity and anemic performance of agriculture remains a structural source of poverty.”

He pointed out that for the past

“The stagnant productivity and anemic performance of agriculture remains a structural source of poverty.”

—Dominguez

10 years, the agriculture sector grew at an average of only 1.1 percent. In 2018, despite the higher overall GDP growth of 6.2 percent, agriculture grew at only 0.9 percent. If it had grown by 2 percent, he said, overall economic growth would have been at least 0.1 percentage point higher at 6.3 percent.

The third-quarter results this year are more encouraging, with the farm sector growing 3.1 percent, or a significant turnaround from the 0.03 percent contraction recorded in the same period last year, Dominguez added.

In his speech, he said that while “President Duterte has demonstrated decisive leadership in passing agriculture-friendly reforms such as the rice tariffication law, more policy initiatives are needed to enable the farm sector to reach its full potential on his watch.”

He said the rice tariffication law has lowered the retail cost of rice for over 100 million consumers and established an annual P10 billion Rice Competitiveness Enhancement Fund (RCEF), which is meant to boost rice productivity by providing farmers with modern farm machinery and equipment, high-yield seeds, low-interest and accessible credit, and skills training programs on farm mechanization and modern farming techniques.

Himself, a former agriculture secretary, Dominguez said the rollout of productivity-enhancement programs, “which are currently being carried out by the Department of Agriculture and its attached agencies under the leadership of DA Secretary William Dar, will slash farmers’ crop production

costs and increase their yields.”

Dominguez said urgent reforms must be done to encourage the establishment of more agribusiness enterprises and make the farm sector more attractive and viable for the next generation of “agripreneurs.” Among those he suggested to be passed by Congress “is the proposed Corporate Income Tax and Incentives Rationalization Act, which aims to gradually reduce the corporate income tax from 30 percent to 20 percent.”

Final Sulong edition this year

DOMINGUEZ said the final edition of Sulong Pilipinas for this year gathered the country’s agribusiness stakeholders in this city to come up with actionable recommendations on how to jump-start agricultural growth.

“The economic team is earnestly looking forward to the solutions you might arrive at in the course of this meeting. We encourage you to think out of the box and to propose bold ideas. The country benefits from a political leadership that does not fear change. This is the moment to break out from the structures that trapped so many Filipinos in poverty for far too long,” Dominguez told over 600 agribusiness stakeholders gathered at the SMX Convention Center, in Lanang district.

Sulong Pilipinas is a consultative forum between the government and the private sector that started in June 2016, even before then-Davao City Mayor Duterte took over as President.

This regular exchange of ideas between the government and private sector has helped the Duterte administration carry out its zero to 10 point socioeconomic reform agenda aimed at providing a safe and comfortable life for Filipinos, and formulate and implement a Comprehensive Tax Reform Program, a national ID system, the Ease of Doing Business Act, the Universal Health Care law and the President’s signature “Build, Build, Build” infrastructure program, among others.

levels the playing field for renewables,” said Gerry Arances, executive director of Center for Energy, Ecology and Development (CEED) and convener of P4P. “These past weeks, Filipinos from all walks of life knocked on different corporate and government bodies to hold them accountable for enabling coal to heavily burden Filipinos with its costly price and the detrimental impacts it brings to the environment and its host communities,” he said.

Arances added: “We are here in hopes that the unified cry of Filipinos would ultimately go through the seemingly deaf ears of the government offices, financial institutions, and corporate proponents who contributed to the proliferation of coal, in order to wake them from their obsession with dirty energy.”

P4P; Sanlakas; CEED; Philippine Movement for Climate Justice; Bukluran ng Manggagawang Pilipino; Freedom from Debt Coalition; Ecological Justice League of Youth Leaders; Ecological Justice Interfaith Movement decry coal’s continued dominance in the country’s energy mix.

“The Electric Power Industry Reform Act promised back in 2000, that allowing private corporations to take charge of the country’s energy facilities would not only yield cuts in government spending, but also produce the least-cost electricity for consumers through encouraging competition among providers.

Two decades should be more than enough time to realize that when a public necessity is entrusted to private entities who also get to play as their own rule-makers, what was supposed to be service simply turns into business,” said Atty. Aaron Pedrosa, secretary general of Sanlakas.

Arances noted that Epira effectively allowed power firms to push for the approval of coal contracts.

“Right now, Meralco is doing its very best to gain the Energy Regulatory Commission’s approval of five new coal and other fossil fuel contracts. This is despite three consecutive rate hikes in the last quarter of the year, and despite over 60 red and yellow alerts in the Luzon grid in 2019 alone, which were mostly caused by outages of the coal-fired power plants from which Meralco is taking its electricity supply,” stressed Arances.

Zeena Manglinong, FDC executive director, commented that Epira, from the beginning, was “a betrayal of the Filipino public’s trust.”

“Providing electricity that is reliable, affordable and clean is the government’s mandate, yet as austerity measures aiming to cut down government spending, this was handed over to private corporations. It’s time for our government to recognize the consequences, though unintended, that avoiding this duty has brought, and take responsibility by holding power corporations guilty of abuses against consumers accountable,” the FDC official said.

RCBC, Acudeen, fintechs unveil ₧100-B MSME opportunity fund

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HE Rizal Commercial Banking Corp. (RCBC) on Tuesday announced it has spearheaded the creation of an opportunity fund to finance local micro, small and medium enterprises (MSMEs) and farmers.

With the passage of Personal Property Security Act (PPSA) and the recent issuance of its implementing rules and regulations, RCBC took the lead in launching Asean’s first MSME Opportunity Fund to jump-start the banking and fintech industry in creating markets and encouraging the private sector to utilize movable assets as collateral.

Access to finance has been among the challenges faced by MSMEs and the agriculture sector because banks require hard collateral, which these borrowers do not have. Now PPSA (RA 11057) allows the use of movable collaterals, such as account receivables, crops, farm equipment, warehouse receipts, bank accounts, and even future harvest.

“This pioneering initiative promotes innovation by giving all stakeholders the opportunity to offer creative solutions to sustainability challenges, especially in empowering our entrepreneurs in exponentially growing our MSME sector,” RCBC President and CEO Eugene Acevedo said.

The open-ended fund will provide alternative funding for capital and operational requirements of MSMEs through the sale and purchase of invoice receivables and other movable assets registered by invoice receipts, certificates, or contracts as defined by the act.

The fund will be covered by a sovereign guarantee through PhilGuarantee to ensure the quality of underwriting and receivables assets. A review of underwriting tools will be done and preference may be for shorter duration for loans/ receivables including due diligence on the company providing long historical data.

“We recognize the immense potential and unique challenges of MSMEs and BSP [Bangko Sentral ng Pilipinas] is set on strengthening the country’s financial infrastructure,

supporting innovation, and bridging the information gap. To build the foundation for a robust financial infrastructure, we work in close coordination with government agencies and partners in development,” BSP Governor Benjamin Diokno said.

The pilot will initially cover Acudeen Technologies Inc., a receivable factoring exchange that facilitates the buying and selling of small and medium enterprises (SME) invoices through its platform. Recently, two multibillion-dollar factoring banks, Deutsche Factoring Bank and Taishin Bank, have signed agreements with Acudeen to provide guarantees on export related receivables in the exchange. The deal made it possible for the tech firm to attract more financial institutions like RCBC to look into the opportunity in the movable asset space.

“The next immediate step is clear: To get the collateral registry operational as soon as possible. Then, quickly build up a real movable asset finance market with a diversified range of products and with as many players as possible from both banks and nonbanks. A substantive movables finance market will mean, for example, that at least 30 percent of all commercial lending in the Philippines involve movable assets,” RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva said.

“The entry of RCBC proves that we have put to life a bank-grade machinery that is instrumental in putting PPSA at work, and in really helping out our entrepreneurs in the country. We are expecting two more major banks to participate in the first half of 2020,” Acudeen Founder Magellan Fetalino said.

Agriculture and MSME sectors form the backbone of the Philippine economy. MSMEs account for 99.6 percent (911,768) of the country’s enterprises and generate 61.6 percent of employment.

“We really need to leverage technology to help our businesses, including mSMEs, thrive, compete, and grow while implementing regulations that reduce financial risks and boost confidence for MSME finance,” Finance Undersecretary and Chief Economist Gil Beltran said.

DOTr reports 96% completion of Grand Central Station’s Area B at TriNoma

By Lorenz S. Marasigan @lorenzmarasigan

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HE Department of Transportation (DOTr) reported on Tuesday that the Area B of the Grand Central Station—a common alignment among four Metro railway lines—is now 96-percent complete.

Funded by Ayala Corp., Area B is the portion of the three-section facility where the concourse will be built.

It is located near the TriNoma Mall in Quezon City. This area was inspected

by Transportation Secretary Arthur P. Tugade on Tuesday.

“How will I know the progress of the work if I will just rely on the word of mouth. I inspected this facility toward the end of the year to judge if the work was done,” he said.

Today, construction of the Grand Central Station is round the clock, as the government aims to finish the facility by 2021.

Meanwhile, the government is now conducting the detailed engineering and design for Area A, the linkage between the Light Rail Transit (LRT) Line 1 and the Manila Metro Rail Transit (MRT) Line 3. This portion is funded by the government.

For Area C, San Miguel Corp., which will finance the said segment, is now constructing the viaducts and is finishing the detailed engineering and design for the said segment. Area C is where MRT 7 will be terminating.

The Grand Central Station is a 13,700-square meter concourse area that will interconnect the LRT 1, MRT 3, MRT 7, and the Metro Manila Subway.

The common station was in limbo for a couple of years after its conception, after getting a stay order from the Supreme Court due to a possible breach in contract.

To recall, SM Prime Holdings Inc. sued the previous transport department for changing the location of the common station, even with an existing naming rights contract with the government.

Former transport officials decided to move the location due to its cost benefits.

SM has already withdrawn its case and has “allowed” the government to keep the money to help fund the construction of the common station.

When built, the common station will provide easy access to both malls and major roads, like Edsa, and will provide a common concourse, or atrium, to facilitate easy train line transfer.

Rice inventory down to 2.962 MMT from 3 MMT in Nov–PSA

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE country’s rice inventory as of November fell slightly to 2.962 million metric tons from last year’s 3 MMT, the Philippine Statistics Authority (PSA) said on Tuesday.

However, data from the PSA showed that on a monthly basis, the inventory was 30 percent higher than October record of 2.279 MMT. The PSA monthly report on the country’s rice inventory noted that the expansion month-on-month was driven by higher recorded inventory levels in households, commercial warehouses and National Food Authority (NFA) depositories.

Of the total rice stocks during the reference period, more than half, or 1.526 MMT, were held by households, while 33.1 percent, or 981,690 metric ton, were in commercial warehouses. The remaining 15.3 percent or 454,080 MT was in NFA warehouses.

“Compared with previous year’s record, rice stocks in households and commercial warehouses declined by 2.0 percent and 26.7 percent, respectively. However, a surge of 334.8 percent was recorded in NFA depositories,” the PSA said in the report.

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DENR eyes review of LGU garbage deals

By Jonathan L. Mayuga @jonlmayuga

T

HE Department of Environment and Natural Resources (DENR) is eyeing to review the garbage contracts entered into by local government units (LGUs) with private contractors to ensure efficient garbage collection, especially in Metro Manila.

At the year-end Assessment with Media Partners of the DENR on Tuesday, Undersecretary for Local Government Unit and Solid Waste Management Benny D. Antiporda said the review of garbage contracts, in particular, would focus on the hauling aspect of garbage.

“We want to know why garbage collectors haul the garbage in commercial and residential areas, but neglect…informal settler

areas,” said Antiporda.

The official said this is one of the problems why garbage sometimes find their way in vacant lots, or worse, clogging waterways that cause severe flooding.

He said the DENR has already asked the Department of the Interior and Local Government (DILG) for copies of the LGU contracts with their private garbage contractors.

“Unfortunately, what we were provided with by the DILG are plans. That is why we are coordinating again with the DILG, this time, to get the copies of the garbage contracts,” he said.

According to Antiporda, in 2019, the DENR focused on addressing the garbage shortly after launching the “Battle for Manila Bay” in January 26, 2019.

In reviewing the garbage con-

tracts, he said, the DENR will ensure that collection covers all areas within a city, whether rich or poor.

“For instance, if Quezon City, if you collect garbage, it should be collecting garbage in all areas, whether you are rich or poor,” he said.

The DENR official who is also the concurrent executive director of the National Solid Waste Management Commission said the DENR will continue to work with LGUs to come up with their 10-year solid waste management plans while threatening to file charges against erring officials who continue to ignore their mandates as stated under Republic Act 9003 or the Ecological Solid Waste Management Act of 2000.

Garbage has been identified as a major cause of water pollution in Manila Bay.

Rescuers rush search for quake survivors; death toll climbs to seven

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HE National Disaster Risk Reduction and Management Council (NDRRMC) said on Tuesday that Search, Rescue and Retrieval (SRR) operations were further intensified on the rubbles of the collapsed Southern Trade, commercial store in Padada, Davao del Sur, in the aftermath of the 6.9-magnitude earthquake.

The temblor with epicenter in Matanao, Davao del Sur, struck on Sunday with intensities ranging from 2 to 7, causing damages to weak houses and buildings, both in Regions 11 and 12.

NDRRMC Executive Director Ricardo Jalad said six people have already been rescued through the SRR efforts of the Bureau of Fire Protection (BFP) Region 11, with support from the Special Response Units of other BFP Regions 12 and Bangsamoro Autonomous Region in Muslim Mindanao, well as Disaster Response Units (DRUs) of the Army’s 73rd Infantry Battalion and 512nd Engineering Construction Battalion.

He said three bodies have also been recovered from the collapsed commercial building.

Office of Civil Defense-11 Re-

gional Director Manny Ochotorena of OCD reported to Jalad that seven people have already died and 86 others were injured from the tremor as of the latest count.

The fatalities were reported in Matanao, Magsaysay, Hagonoy, Bansalan and Padada, all in Davao del Sur. Jalad visited Davao del Sur and conferred with Mayors Pedro Caminero Jr. and Arthur Davin of the Municipalities of Padada and Magsaysay, respectively, who both appealed for assistance like relief goods, drinking water and shelter materials for families affected.

Rene Acosta

Wednesday, December 18, 2019 A5

DOLE ‘scales down’ deployment of HSWs, skilled workers to Saudi

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By Samuel P. Medenilla

@sam_medenilla

EWLY hired household service workers (HSWs) and, possibly, even skilled workers will now face a harder time to find employment in the Kingdom of Saudi Arabia (KSA).

This was after the Department of Labor and Employment (DOLE) announced on Tuesday it will “scale down” the deployment of new hires in KSA due to the alleged slow action of Saudi government in awarding the claims of thousands of overseas Filipino workers (OFWs), who are yet to be paid their monetary claims.

Labor Secretary Silvestre H. Bello III said the affected workers include the 9,000 OFWs, who are still waiting for their estimated P4.6-billion unpaid claims from Saudi Oger, a Saudi construction company after they were displaced in 2016.

“They filed their claims. They won their claims but up until now, it is still not paid. We made representation. No less than the President sent a letter to the KSA king, but there is still no action,” Bello said during DOLE’s year-end news conference.

Also waiting for their pending back pay and other entitlements are

200 Filipino employees of a contractor of Saudi Aramco—the world’s largest oil firm—who were not paid of their salaries since April 2019.

Pending action

LAST month, Bello sent Overseas Workers Welfare Administration (OWWA) Administrator Hans J. Cacdac to KSA to follow-up on the claims of the former Saudi Oger employees after some of them held a protest action in Manila demanding for their benefits.

In an interview, Cacdac told the BusinessMirror he was able to meet with representative of Saudi Ministry of Labor, who formed an internal committee to address the problem.

“But they were still not able to give any clear timetable for the release,” Cacdac said.

To provide aid to the said workers, he said, OWWA released about

a billion pesos from 2016 to 2018 to the concerned workers.

“Of the amount, he said, 75 percent were grants, while the remaining 25 percent are cash advances,” Bello said.

Bello added that he may meet again with Saudi officials on the said matter by next year.

Final details

BELLO clarified the “scaling down” is not a deployment ban, but merely the non-issuance of overseas employment certificate (OEC) to new hires bound for KSA. “For balik manggagawa [returning OFWs], it will be on a case-tocase basis,” Bello said.

An OEC is a document issued by the Philippine Overseas Employment Administration (POEA) to allow a Filipino to work abroad.

Bello said the POEA Governing Board (GB), which he chairs, will determine the categories, as well as when the scaling down will take effect.

POEA Administrator Bernard P. Olalia said the issue may be tackled during the POEA GB meeting on Wednesday.

“The secretary already has a memo on HSW [deployment] reduction. We are just waiting for the inputs of all stakeholders before it is issued,” Olalia told the BusinessMirror in an SMS.

A6 Wednesday, December 18, 2019 • Editor: Angel R. Calso

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editorial

Focus on PHL food security

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he days when Filipinos can buy a decent and nutritious meal for less than what it costs to ride a jeepney today are never coming back. The continuous increase in global population, coupled with changes in weather patterns, have put a lot of stress on the planet’s natural resources. Areas that used to be devoted to food production are now inhabited by humans who need to eat.

The ever-increasing demand for food, particularly by countries like China, has made agricultural items more expensive, and this is reflected in the movements of international prices. Countries that need to support their residents have also forayed into other areas where they can secure food sources. Some even go to the extent of forging agreements with other nations where they can grow the agricultural products that they need.

The Philippines is not spared from the specter of high food prices, despite the fact that many of the agricultural products needed by consumers are grown in the country. The exponential hike in demand for food, however, has led to increases in imports in recent years. Strong typhoons and drought will mean more purchases of staples from abroad, such as rice, to plug the shortfall in domestic output.

Dwindling supply, spikes in production cost and weather phenomena, such as El Niño, will only make access to food more difficult in the years to come. It also does not help that young Filipinos are reluctant to take up farming due to the perception that it is not a profitable venture. Problems that have hounded the food and agriculture sector for many years have not been addressed, including the continued inability of farmers to access cheap credit, which would have freed them from loan sharks that charge onerous interest rates.

The agriculture sector is badly in need of what Finance Secretary Carlos G. Dominguez III called “game-changing reforms.” However, policymakers cannot fulfill the President’s campaign promise of making food affordable if they are more preoccupied with Charter change and term extension than helping the Executive branch achieve food security for the Philippines. It would do well for them to remember that the Duterte administration has less than three years to lay the groundwork for a “resilient” and “modern” agriculture sector.

If policy-makers do not know where to start, they should revisit the government’s economic blueprint, dubbed Philippine Development Plan.

The PDP contains a list of initiatives that the Duterte administration wants to undertake to boost food production. Many of the proposals in the PDP are still not being implemented due possibly to the lack of “champions,” or the reluctance of the national government to fund the initiatives.

Chapter 8 of the PDP, titled “Expanding Economic Opportunities in Agriculture, Forestry and Fisheries,” detailed the strategies that the government will adopt to reduce poverty in the sector and prop up food production. Some of these strategies include raising investments in research and development, diversifying into commodities with high-value adding and market potential, and accelerating the construction of disaster and climate-resilient small-scale irrigation systems, and retrofitting existing ones, which require huge funds. However, the needed amount is a small price to pay compared to the potential cost of inaction.

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Christmas for overseas Filipino workers Dr. Jesus Lim Arranza

MAKE SENSE

I

N just over a week, the whole Christendom will once again rejoice for the coming of our Savior. But while Christmas is supposed to be a season of hope and joy, there is always that pain in my heart every time I think of the millions of overseas Filipino workers (OFWs) who would once again celebrate Christmas thousands of miles away from their loved ones, all because their only hope for a better life for their families is to work abroad.

I remember the words of Dalai Lama when he said, “I find hope in the darkest of days, and focus in the brightest. I do not judge the universe.”

Indeed, with the limited job opportunities, if not bad working conditions in the country, millions of OFWs saw the opportunity to work abroad as their only hope during their darkest of days in the Philippines.

How many Filipino mothers are now taking care of the children of their employers abroad, while their very own children in the Philippines are being bottle fed by their father, grandparents or relatives.

I can feel the pain of these Filipino mothers as they put the baby of their employers abroad to sleep, while thinking about the care and attention their very own children in the Philippines are getting. And

even if after two years, they could be back home with their families in the Philippines, they will never be able to bring back the two growing up years of their children while working abroad. After all, according to Brazilian lyricist and novelist Paulo Coelho, “We can sell our time, but we can’t buy it back.”

I cannot blame the millions of OFWs for the choice they made, even if for the nth time, they will once again celebrate Christmas away from home. But I think and believe that our government could do something to encourage Filipinos to work and stay in the country, instead of working abroad.

We in the industry sector believe that if only the country’s local industry would be protected from the ill effects posed by the unfair competition of lower quality, but cheaper,

smuggled goods in the local market by strictly enforcing the government’s regulatory rules on standards among others, we could provide better paying jobs and improve working conditions in the industry sector.

How can local manufacturers compete with the cheaper, but lower quality, imported goods when importers are given the discretion to submit their imported goods to mandatory testing for compliance to product standards? On the other hand, local manufacturers have to follow strictly defined production standard rules.

How much government revenues could have been lost because of smuggling of cheaper, but lower quality, imported goods? This means short-changing consumers, who were given less than the real value of the money they pay for the imported goods.

Unfortunately, the Philippines is a price-driven market. Many Filipino consumers still base their buying options on price, rather than quality.

It should, therefore, be the primary responsibility of the government to ensure that the country’s product standard laws and rules are fully implemented, no ifs and buts.

Unless some government policy regulations on standards that favor imported goods are amended, if not rescinded, millions of Filipino mothers and fathers would still prefer to spend Christmas away from home, all because of their quest for a better life for their families.

Bailing out bankers is all the rage again

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By Ferdinando Giugliano | Bloomberg Opinion

fter the financial crisis, Europe’s political leaders put together a complex set of rules to make it harder for future governments to bail out banks. That system is looking so full of holes that one wonders what the point is.

Two episodes in a fortnight show that taxpayers are still very much on the hook for the financial system’s losses. At the start of December, the European Commission gave a green light to the rescue of NordLB, a German savings bank, by the governments of Lower Saxony and Saxony-Anhalt; the protection scheme of the German savings bank sector also chipped in.

Then on Sunday, Italy set aside €900 million ($1 billion) to recapitalize Banca del Mezzogiorno-Mediocredito Centrale (MCC), a stateowned bank, so that it can save a private regional lender, Banca Popolare di Bari SCpa. Brussels hasn’t yet cleared this rescue plan, but Rome is confident it will. In recent years, Italy has rescued Banca Monte dei Paschi di Siena SpA and Banca Carige SpA. In 2015, the German states Hamburg and Schleswig-Holstein helped HSH Nordbank.

It wasn’t meant to be this way.

Between October 2008 and December 2012, European Union governments spent nearly €600 billion on recapitalizing banks and other asset relief measures, according to the Commission. The subsequent anger of voters prompted politicians to agree on a single rulebook, putting strict limits on when a government can prop up an ailing lender.

The so-called Bank Recovery and Resolution Directive says governments must generally impose losses on shareholders, bondholders and, in some cases, large depositors before they’re allowed to pour in public money.

Some politicians have done everything they can to circumvent the rules. Italy is reluctant to inflict pain on local bondholders, who are often retail investors. In Germany, regional governments refuse to let their banks fail, preferring to fork out billions instead. So while the letter of the new rules still stands,

politicians have devised so many exemptions that their spirit is gone.

Take NordLB. The Commission argues that Germany’s regional governments will intervene with the same conditions as a private investor, which will ensure no distortion of competition. Yet, the rescue, including a €2.8-billion cash injection and €800 million in guarantees, appears far more generous than what was on available from the market.

Meanwhile, Italy’s government says MCC will intervene in Banca Popolare di Bari alongside the voluntary arm of the country’s deposit guarantee scheme; and that this proves the rescue is being done under market conditions. However, this interbank scheme has acted repeatedly as a de facto lender of last resort to banks. It’s highly doubtful that any other investors would help out like this.

This isn’t to say the last decade’s banking reforms were entirely in vain. Since 2014, the European Central Bank has taken over from national watchdogs as the chief supervisor of the euro zone’s largest banks. (Unfortunately, less significant institutions, such as Banca Popolare di Bari, remain under local oversight). The ECB has its own

So, as we partake of the noche buena with our loved ones in the Philippines this Christmas, think of the millions of OFWs who would be celebrating the season of hope and joy thousands of miles away from their loved ones. But thanks to the Internet, they can, at least, throw a flying kiss to their loved ones.

However, behind that faint smile of joy seen on the computer monitor or cell phone is a bleeding heart of an OFW who can only hope for the best Christmas for his/her family back home.

No less than President Duterte is concerned about the ill effects of migration on Filipino families, as this creates dysfunctional people, all because of their desire to grab better paying jobs abroad.

The Federation of Philippine Industries (FPI), which I chair, shares the President’s concern for the OFWs and their families, which will enhance our resolve to strengthen the local industry’s foothold in the local market. We do not only welcome, but are even ready to help, the Duterte administration’s thrust to eliminate trade and import rules that are bias to importers and a deterrent to local industry growth.

Merry Christmas to one and all!

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

problems—especially in terms of communication and transparency—but it’s usually a tougher policeman than many of its national counterparts.

The bigger problem is that the euro zone’s “banking union” is still fragmented. The Single Resolution Board (SRB), a body within the banking union that’s in charge of winding down failing banks, has an excessively high bar for intervening. As a result, smaller- and medium-sized banks are dealt with using a patchwork of national rules.

Add to that the reluctance from politicians to let banks go bust, and you can see why taxpayers routinely pick up the bill.

It’s not too late to salvage the postcrisis reforms. A priority must be to harmonize national bankruptcy regimes, which provide endless loopholes to escape the region’s common rules. The SRB shouldn’t just intervene in the event of problems at the largest banks. Politicians should finally complete the banking union, creating a joint deposit guarantee scheme for the region. This would ensure that all depositors (up to €100,000) face exactly the same risks, and end the increasingly varied national schemes.

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US-China deal will be a short-term truce

Best nonfiction books of 2019 for contrarians and the curious Stephen L. Carter

BLOOMBERG VIEW

Mohamed A. El-Erian

BLOOMBERG VIEW

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here are times, including in armed conflict, when adversaries see it in their own interests to opt for a truce and sell it to the outside world as a stepping-stone to a comprehensive peace. But both sides know it will be only a prelude to renewed tensions down the road. This could well be the best way to think of the “phase one deal” between China and the United States. Yet, it’s not how the equity markets see the situation. Instead, they are pricing the deal as simultaneously improving both the immediate and longer-term economic outlook.

After a protracted negotiation process, the American and Chinese governments finally reached agreement on a rather narrow set of issues.

Pending additional information, stock markets have interpreted this as constituting a meaningful and immediate de-escalation of trade tensions, driving several indexes to record levels.The most cited benefit is removing the short-term risk of tariff increases, a development welcomed by much of the US manufacturing sector. This has led some observers and market strategists to anticipate a halt to the contraction in global manufacturing, leading to higher business investment, the notably lagging components of global GDP growth. As desirable as this is, such a favorable medium-term outcome is unlikely to materialize for several reasons.

First, the deal doesn’t address in a decisive way long-standing grievances that the US (and other countries) have about certain Chinese trade practices. It’s essentially a transactional deal that exchanges higher Chinese imports of US goods for removing the threat of a December 15 increase in the level and scope of US tariffs on Chinese goods.

Second, the deal is too narrow to reverse deep and growing bipartisan support in the US for a tough stance against China, not just for economic purposes but also on grounds of national security and human rights.

Third, enforcing and verifying this deal are far from straightforward, exposing an important internal vulnerability.

Fourth, neither President Donald J. Trump nor President Xi Jinping seem keen to explicitly put their signatures to the agreement, leaving trade officials to sign.

Finally, the leading edge of the decoupling process—technology— continues to fuel tensions which saw China threaten Germany this week over Huawei Technologies Co. We need only to look at some of the short-term political priorities in China and the US to understand why they opted for a short-term agreement that lacks sufficient substance and robustness to pivot to a durable resolution.

Amid a noisy impeachment process and the risk of a slowing economy in the run-up to next year’s election, the Trump administration has been seeking an explicit win, as short in duration as is probably intended. China’s interest lies in gaining time to accelerate internal restructuring needed to reduce

Policy-makers, rather than believe that global economic conditions will now turn from headwind to tailwind, would be well advised to press forward with domestic pro-growth reforms during this period of relative peace. While hoping for the best, it’s better to treat the phase one deal as only a short-term truce. sensitivity to trade disruptions. This is especially important when shortterm stimulus measures are increasingly inconsistent with longer-term structural reforms. The last thing China wants is to face the trifecta of a trade/investment/currency war at a time of huge trade vulnerability, and as the situation in Hong Kong has opened yet another area of conflict with western economies.

Judging from the price moves, the fixed income and currency markets seem to understand this better than the stock market. Specifically, the first two have been much more guarded in translating short-term relief into a longer-term lifting of the uncertainties facing global growth.

Not so for stocks, where the beneficial impact on valuation (higher) and volatility (lower) has turbocharged that of the extremely accommodating financial conditions imposed by ultra-stimulative Federal Reserve and European Central Bank measures. Certain metrics suggest that the global central banking policy stance is the loosest since the outset of the global financial crisis. All this is enabling stocks to ignore yet another deterioration in the leading indicators for European manufacturing, as well as emerging partial signs of possible wobbliness in US household consumption, by far the most important underpinning of global economic growth.

Investors should use the rise in prices to trade up in quality (particularly favoring companies with resilient balance sheets and high cash generation) and take the next step in gradually repositioning their portfolios toward the more barbelled structure outlined in one of my prior columns. Policy-makers, rather than believe that global economic conditions will now turn from headwind to tailwind, would be well advised to press forward with domestic pro-growth reforms during this period of relative peace.

While hoping for the best, it’s better to treat the phase one deal as only a short-term truce.

O

ne reason I love books is that there are some arguments and ideas that simply cannot be presented in a couple of thousand words, to say nothing of being squeezed into social-media posts. The year 2019 was a particularly good one for books that made me think. No, I don’t read every book the industry has to offer, but I do peruse hundreds each year. Below are my 15 favorites from the 12 months just past, all of them serious efforts. I by no means agree with every point made by every author, but each work on this list fully engaged me, and, in some way, caused me to see the world a little differently.

To avoid the tyranny of the alphabet, the first 14 are listed in random order. At the end is my pick for best nonfiction book of the year.

Steven Strogatz, Infinite Powers: How Calculus Reveals the Secrets of the Universe—An argument that we underestimate the extent to which the modern world is built on mathematics in general, and calculus in particular. Delightfully written, with only a handful of difficult concepts. (And you’ll also learn how to calculate the speed of light while sitting at home...by using cheese.)

Orlando Patterson, The Confounding Island: Jamaica and the Postcolonial Predicament—Everybody wonders what makes Jamaica so different. The prominent Harvard sociologist dares to ask. Dares to answer, too. (Bonus: A meditation on the transubstantive value of cricket.)

Tyler Cowen, Big Business: A Love Letter to an American Anti-Hero—My fellow Bloomberg Opinion columnist makes the list for a second year in a row because for a second year in a row he has made me think hard about an issue where I would have expected to be on the other side.

(I’m not anti-capitalist; I just tend

to celebrate small business.)

Gretchen McCulloch, Because Internet: Understanding the New Rules of Language—The lifelong, unrepentant Grammar Curmudgeon in me keeps lamenting the state of the language. Best to know where the changes are coming from. McCulloch diligently, if tragically, traces the evolution from Old Internet (say, the OK Boomer crowd) to New Internet. Particularly good on how social media has made informal rather than formal writing the cultural norm.

Dan Moller, Governing Least: A New England Libertarianism—From the stunningly lucid first line to the homey examples (restaurants, sand castles), this is the best book on libertarian philosophy in years.

Moller manages to walk the thin line of favoring self-reliance (and neighborliness) without going Ayn Rand on us.

Akiko Busch, How to Disappear: Notes on Invisibility in a Time of Transparency—An engaging guide to both the philosophy and methodology of what the author calls “slipping out of the picture.” Busch combines history, science, and her own joy in nature as she argues for resisting the

Bloomberg Opinion

E

mmanuel Macron is the first French president in a decade who isn’t a baby boomer, and it shows.

The 41-year-old’s battle to reform France’s high-tax, high-spend economy is often fought in the name of generational equality—largely by tilting the balance away from the elderly in favor of the young. Last year, as a gesture to help young people coming onto the job market, the Macron administration hiked social-welfare taxes on pensioners, an unpopular move that was later reversed in the face of massive street protests by the Gilets Jaunes.

Now Macron is taking aim at pensioners once more, this time proposing to scrap the country’s Byzantine retirement plans (of which there are 42) in favor of a universal points-based system that would ideally be more transparent and egalitarian for future generations.

He has pitched it as a “21st-century” plan for a changing society, one in which self-employed and part-time work (which both present a natural pension disadvantage) already make up over a third of jobs.

The reaction from labor unions has been uncompromising, unleashing the kind of crippling strikes not seen in years. The 21st century doesn’t seem that much fun to those blocking pub-

lure of crowds and fame but even of awareness of self. (Never have the 30 seconds before medical sedation kicks in been made to seem quite so vividly attractive.)

Stephanie E. Jones-Rogers, They Were Her Property: White Women as Slave Owners in the American South— It turns out that white women on the plantation were not helpless, passive spectators in the slaveocracy. They were active participants in the oppression and, in many cases, they behaved more cruelly than the men toward the human beings they owned.

Harold Bloom, Possessed by Memory: The Inward Light of Criticism—The famed literary critic, who died this past October, wrote more books than most people in middle age have had birthdays.

Here he leads us on a fascinating journey through the great poetry and prose to which he devoted his many decades of brilliance, using everything from Shakespeare to the Bible to May Swenson to reflect on his life—and to teach us home truths about ours.

Antonin Scalia, On Faith: Lessons from an American Believer—Whatever your views on the late justice’s jurisprudence, there is much to be learned from this collection of writings by him and about him. He was a fine prose stylist, and is quite strong and sharp on such issues as why it’s important to resist the urge to try to model government on the Bible.

Tyler Kepner, K: A History of Baseball in Ten Pitches—I’ve been a fan and amateur historian of the game since I was young, but I somehow never realized how absorbing baseball’s history would look if viewed as a series of changes over time in the way the ball is thrown to the batter.

Bryan Caplan and Zach Weinersmith, Open Borders: The Science and Ethics of Immigration—The title says it all. I devoted a column earlier this year to this excellent book, an extended argument in the form of

a graphic novel. Don’t expect to be persuaded; do expect to be forced to rethink.

Tom Holland, Dominion: How the Christian Revolution Remade the World—The historian argues that even as the West grows more avowedly secular, our ethical positions, right up to #MeToo, are deeply imbued with a Christian view of the moral world.

Robert MacFarlane, Underland: A Deep Time Journey—It’s a cliché but still true: The story grabs you and never lets go. MacFarlane, an inveterate chronicler of geography, leads us through the caverns and depths beneath the surface of the globe— and also through the caverns and depths of literature, of our own souls and, perhaps, of our future, as well. Never have I thought so deeply about what lies far below our feet.

Tom Nicholas, VC: An American History—Whatever your view of venture capitalists, it’s worth studying where they came from. I had a vague familiarity with the role of US postwar policy in the creation of the species, but I learned a lot more from Nicholas. And I’d never thought about their precursors in the old whaling industry!

Finally, my choice for best nonfiction of the year: Jane Brox, Silence: A Social History of One of the Least Understood Elements of Our Lives—I have a confession to make. Until I picked up this volume, it had never occurred to me that silence had a history.

But it does, both as concept and as practice. Brox makes use principally of two examples: the monastery and the penitentiary. We see how the rule of silence helped build the scholarly and reflective aspects of the monastic life but became a tool of oppression to the imprisoned.

Also, a nice bit on how today’s constant sense of the passage of time is ruinous to the need for quiet.

That’s this year’s list. As always, happy reading.

China’s central bank and the Fed look more alike

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By Daniel Moss | Bloomberg Opinion

O much for the great divergence between economic systems led by the US and China. In the monetary arena, they look more alike than at any point in recent years.

Both the Federal Reserve and the People’s Bank of China (PBOC) end 2019 signaling interest rates will stay at current levels with a bias toward cuts, if they have to do anything. Each is concerned with too-low inflation. They took different journeys to get here: The Fed cut rates three times before taking a breather, while China refrained from trimming its benchmark rate despite predictions it would.

On a deeper level, the PBOC has evolved significantly as an institution in the way it interacts with investors and the public. It’s not some impenetrable fortress of authoritarian financial diktats. Chinese central bankers give frequent speeches and interviews, issue press releases and publish a fairly detailed quarterly Monetary Policy Report. This is more than public relations. Communications have become an increasing part of the central bank armory across the globe in the past two decades,

coinciding with China’s rise. The PBOC has become so visible, and its decisions to the world so critical, that a research paper from the Reserve Bank of Australia should be compulsory reading for anyone interested in international economics. The paper, published last week by Bradley Jones and Joel Bowman, says that while the PBOC increasingly resembles other central banks, full convergence is unlikely, due largely to the lack of political independence. It’s not an ideological point. The bank’s place in China’s state machinery and policy spectrum means there are important things it can do in only limited ways and other areas it can’t address at all. Forward guidance is hard.

Quarterly forecasts stretching out to years, de rigueur among central banks, aren’t published. When and if China does cut its benchmark rate, we almost certainly won’t know the date and time in advance. Needless to say, there isn’t anything remotely

Macron takes on France’s 42 shades of pension gray

By Lionel Laurent

Wednesday, December 18, 2019 A7

lic transport: Leveling the playing field would mean ending generous schemes like those allowing railway and subway workers to retire at 56 or 57 on a pension that’s propped up by taxpayer funds. Tuesday’s planned strike action will be a big test of whether unions can keep up the pressure: After a first protest drew 800,000 people, according to government figures, last week’s participation dropped to 339,000.

Macron’s youthful arrogance isn’t helping put out the fire. The government’s dismissive attitude to unions and its inability to explain the reform in detail have boosted public support for the strikers. The shambles got worse on Monday when Jean-Paul Delevoye, the

government’s 72-year-old point man for the reform, resigned after failing to disclose 13 interests and side jobs. Hardly an ideal advertisement for a “we’re-allin-it-together” society.

Still, it’s somewhat depressing that the coalition of forces currently paralyzing France in the name of pension security seem unwilling to acknowledge hard truths that have little to do with the current occupant of the Elysee Palace.

There is a stark demographic divide opening up between the baby boomers retiring from the job market and their juniors who are still at the coalface. The French currently retire around four years earlier than the OECD average of 65, on pensions with above-average income

like Fed Chairman Jerome Powell’s testimonies to Congress or Bank of England Governor Mark Carney’s testy exchanges with lawmakers.

None of this is intended by Jones and Bowman as a knock on the PBOC or China. One paradoxical observation they make is how much China’s inflation performance resembles the advanced economies. The trend lines are similar and the PBOC takes price stability seriously even if it can’t enforce its will autonomously. The outcomes are broadly the same, even if, as the authors note, they “have been generated in very different institutional contexts.”

How similar are they? While China’s consumer inflation accelerated to a seven-year-high in November, largely owing to a surge in pork prices, underlying price pressures are faint.

Core inflation rose just 1.4 percent and has been below 2 percent for more than a year. Not that different to the Fed’s ongoing challenge to get its preferred inflation gauge, now at 1.3 percent, up to the 2 percent target. Consistent undershooting was the rationale for the European Central Bank to return to quantitative easing.

Jones and Bowman also discuss how the PBOC is enmeshed in

the state’s broader policy apparatus. When the bank acts, it’s always consistent with broad national policy objectives, often because sign-off is required from the State Council, akin to China’s cabinet. It begs the question: Does this make the outcome necessarily inferior? While few practitioners in the developed world want to downplay the idea of central bank independence, there’s a lot to be said for policy levers pulling in the same direction. Independent central banks have made mistakes. There’s no monopoly on wisdom in Washington, Frankfurt or London. Monetary high priests outside China regularly beseech fiscal and regulatory authorities for help in generating growth. For a long time, the Fed wasn’t the gold standard on communications and transparency.

Press conferences only came along in 2011, and only this year have they followed every rate decision. The Fed didn’t have a numeric inflation target until 2012. Amid the cacophony of commentary this year about technology rivalry and trade breakdowns and makeups, it’s important to see where China and the West are getting closer—even if they aren’t intimate.

replacement rates—funded by the contributions of those in work. Today, French baby boomers are well-off: The over-65s account for 60 percent of all wealth and around 75 percent of them own their own home (for the under-40s, it’s 49 percent). A 2018 study found pensioners had a higher standard of living than the national average.

The millennial generation won’t be so lucky. France today counts around 71 people who are over 65 years old for every 100 who are under 20. By 2050, official French statistics project the ratio will have flipped to 122 over-65s for every 100 under-20s. OECD estimates suggest that while right now there are almost three workers financing one

pensioner, by 2050 there will be fewer than two. The grim truth is that tomorrow’s pensions will be less generous, and will require people to work longer, especially if state pension spending is to stay at around 14 percent of GDP. France isn’t alone—this is a Europe-wide phenomenon—but it’s clearly a future drag on finances.

Macron’s reform, while hardly a decisive fix, was supposed to at least in part address this by nudging people into working longer by ironing out loopholes and making the pension system much more transparent. It was explicitly intended to be a softer approach than simply jacking up the retirement age and leaving bigger changes for later.

A8 Wednesday, December 18, 2019

Senate sees ₧20B-₧24B yield yearly from higher ‘sin’ taxes

Salceda: House version of ‘sin’ tax better than Senate’s

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By Butch Fernandez

@butchfBM

NYWHERE from P20 billion to P24 billion yearly is the expected yield from the higher rates for so-called sin taxes on alcoholic beverages, heated tobacco products and vapor products which the Senate, working late into Monday night, passed on third and final reading to help bridge the funding gap for implementing the Universal Health Care (UHC) law.

This is on top of the more than P100 million being collected from taxes such sin products.

President Duterte earlier certified as urgent SB 1074, to allow lawmakers time to pass it within

the last few days of sessions before Congress takes its holiday recess starting December 18.

The Department of Finance (DOF) earlier projected a funding gap of P63 billion in the first

₧63B

The Department of Finance’s earlier projected funding gap in the first year of implementation of the UHC law year of implementation of the UHC law.

The senators took the final 20zero vote on third reading on the higher sin taxes after closing the period of amendments on Senate Bill 1074, authored by Sen. Pia Cayetano, who chairs the Ways and Means committee.

After Monday night’s voting, Sen. Panfilo Lacson gave an estimated yield of from “P22 billion or

P23 billion” in additional revenue from the higher excise tax rates, juxtaposing this with “the sponsor’s P43 [billion] and the DOF version of P32 billion and against the HOR’s [House of Representatives] P16 billion.”

Before adjourning the late-night session, senators confirmed the composition of the Senate panel in the bicameral conference committee that the Senate and the House of Representatives will convene to reconcile conflicting provisions in their versions of the amended sin tax law.

To be chaired by Cayetano, the bicameral panel will also have as senator-members: Senate President Pro Tempore Ralph Recto, Minority Leader Franklin Drilon, and Senators Imee Marcos, Joel Villanueva and Francis Tolentino.

See “Sin taxes,” A2

BrahMos missile to boost AFP muscle—DND

By Rene Acosta

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@reneacostaBM

HE defense-military establishment is finalizing plans to acquire mediumrange ramjet BrahMos super-

sonic cruise missiles, which Defense Secretary Delfin Lorenzana said could be considered the country’s first weaponry with deterrent capability.

Lorenzana said the procurement of the Indian-made BrahMos, noted

EASTERLIES AFFECTING THE WHOLE COUNTRY as of 4:00 pm - December 17, 2019

as the fastest missile in the service of any military in the world for now, should initialize the deterrent capability of the Armed Forces of the Philippines (AFP), which is currently building its firepower.

The BrahMos, a product of a

joint venture between a Russian defense company and India’s Defence Research and Development Organisation (DRDO), has a speed of up to Mach 3, or thrice the speed of sound, with a maximum range of 290 kilometers.

The missile can carry a 200-kilogram warhead for both ship and land-based launching platforms, while its aircraft-launched variant can carry a 300-kg warhead.

Lorenzana told reporters on Monday night he expects to sign the acquisition agreement for BrahMos within the first quarter of 2020, with government-to-government as mode for the procurement.

Initially, the defense chief said, he was looking to get at least two batteries for the missile, which would jump-start the military’s effort to build its deterrent capability, given the country’s current territorial challenges.

A missile battery is equivalent to three mobile autonomous launchers with two or three missile tubes each.

The country is pressed against China’s military activities in the South China Sea, especially in Manila-claimed territory in the West Philippine Sea, where Beijing’s military and paramilitary ships and even militia vessels are active.

Lorenzana said they are evaluating if the supersonic missile the country plans to acquire would be for the Philippine Army or the Air Force, or whether the missiles would be launched from an aircraft of from a land-based platform.

The Air Force is already using FA50 fighter jets, a squadron of which was acquired from South Korea.

However, Lorenzana said, their initial inclination was for the Army’s use, and this is why two missile batteries were initially eyed for purchase.

The use and production of the BrahMos by India for its Army, Air Force and Navy had earlier stirred fears for the Chinese military, a military rival, because of the missile’s seeming capacity to blunt any effort to stop it from hitting its target given its supersonic speed.

This has prompted China to buy S-400 missiles for its defense system. The AFP recently received two Cobra attack helicopters from the United States that were donated through Jordan.

Early this year, it also initialized its underwater monitoring and warfare capability through the delivery of two AW159 anti-submarine helicopters that it bought from an Anglo-Italian defense manufacturer.

By Jovee Marie N. dela Cruz @joveemarie

HE House of Representatives will stand by its version of the new “sin” tax bill on alcoholic drinks and electronic cigarettes, as it could provide an additional P26 billion for the government, a leader of the chamber said on Tuesday.

In an interview, House Committee on Ways and Means Chairman Joey Sarte Salceda said there are differences between the Senate and the House versions of the new sin tax bill.

“There’s only two days left [before our break] and we need to show the public that Congress is doing its job. This [House] measure aims to raise P26 billion for PhilHealth [particularly for the implementation of Universal Health Care law] while the Senate could only provide P16 billion,” he said.

His estimate of P16 billion from the Senate version’s yield contradicts the senators’ estimates that the bill they passed on third and final reading late Monday can generate from P20 billion to P24 billion annually, to help plug the gap in implementing the Universal Health Care law. See related story, “Senate sees P20B-P24B yield yearly from higher ‘sin’ taxes,” at left.

“There is no significant difference between the House and Senate versions when it comes to individual rates. The only problem is the insertion made by the Senate for the [value-added tax] provision on prescription drugs, wherein only the rich would benefit from because they are the ones who could afford such drugs,” he added.

Salceda said they are now studying how to “take down” the prescription exemption and convert VAT to specific tax during the bicameral conference committee meeting on the proposal.

“My position is not to convene a bicam, which was also suggested

by Finance Secretary Dominguez

and Undersecretary Karl Chua. The Speaker also said we could just let the President use his constitutional power to line veto. So that we could put the issue to rest since there are still a lot of bills to tackle, such as the Citira [Corporate Income Tax and Incentives Rationalization Act], Pifita [Passive Income and Financial Intermediary Taxation Act], tax on Pogo [Philippine Offshore Gaming Operators] and Motor Vehicle Road Users’ Tax,” he said.

The lawmaker said members of the congressional bicameral conference committee will meet on Wednesday to reconcile the differences between the two versions of the bill.

“We need to have this passed to establish a confidence-building measure between the House and the Senate with respect to the revenue measures toward the resource mobilization for our government,” Salceda added.

House Bill 1026 or Package 2 Plus B of the Comprehensive Tax Reform Program seeks to amend Sections 141, 142 and 143 of the Republic Act 8424, as amended or the National Internal Revenue Code of 1997.

The bill seeks to increase the excise tax imposed on distilled spirits by P6.60, compared to what is implemented under Republic Act 10351 or Excise Tax Reform law on alcohol and tobacco.

Currently, RA 10351 imposes on distilled spirits a P22.40 specific tax and an ad valorem tax of 20 percent.

Under the bill, starting January 2020, an ad valorem rate of 22 percent including specific tax rates per proof liter of P30, P35, P40, P45 from 2020 to 2023, will be imposed on distilled spirits; and it will be increased by 7 percent annually starting 2024.

The House also approved a shift to a unitary rate of P650 plus ad valorem of 15 percent for sparkling wines, compared to the two-tiered system under RA 10351. It will be increased by 7 percent annually starting 2024.

Continued on A2

SOLONS WANT P2.1-B UNPAID BANCO FILIPINO LOANS INVESTIGATED L

AWMAKERS have filed resolutions asking the House of Representatives to look into unpaid loans, reaching over P2.1 billion, that were granted to the owners of the shuttered Banco Filipino.

In House Resolution 610 filed on Monday, party-list representatives Enrico Pineda of 1-Pacman, Francisco Datol of Senior Citizens, Virgilio Lacson of Manila Teachers, Ron Salo of Kabayan and Jorge Antonio Bustos of Patrol sought a congressional inquiry in aid of legislation into the alleged dubious and suspicious unpaid loans extended to the family of Alberto “Bobby” Aguirre, his heirs, relatives and directors and other officers of the bank.

The lawmakers said the Bangko Sentral ng Pilipinas (BSP) has openly stated that the bank owners and officers of Banco Filipino have huge unpaid loans to Banco Filipino.

According to them, a congressional probe will help them craft new laws that would prevent bank owners and officials from abusing their positions to enrich themselves.

Banco Filipino was ordered closed by the Monetary Board of the BSP on March 17, 2011, and placed under receivership for alleged “dubious, unsafe and unsound banking practices,” among other cited violations.

Among others, Banco Filipino approved loans to its directors, officers, stockholders and related interests (Dosri loans) equivalent to P2.192 billion or 53.5 percent of its total loans, the solons said.

The lawmakers noted the BSP has filed criminal chargers against several directors and officers of Banco Filipino for falsification, grant of illegal loans and major violations of banking laws, rules and regulations.

The lawmakers quoted the BSP allegation that bank officials windowdressed accounting records to conceal its true financial conditions to the great prejudice of its depositors, creditors, investors and stockholders. Banco Filipino had 177,652 depositors, 53 percent of whom had deposits of P5,000 and below.

Also, the lawmakers filed House Resolution 609 urging the lower house to investigate the “fraudulent disbursements allegedly committed

by Banco Filipino officers and directors prior to its closure in 2011.” Such disbursments reached P789.4 million, they said.

The resolution said Banco Filipino also paid a partner of a law firm, who was one of its directors, P225.8 million despite its financial troubles.

Jovee Marie N. dela Cruz

www.businessmirror.com.ph

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In the ad material of Notice of filing of Application for Alien Employment Permits published on October 15, 2019, the Name of Ms. Xu, Fan under POWERPORT DATA SYSTEM TECHNOLOGY INC. should have been read as Ms. Xu, Yan and not as published. The ad material published on October 19, 2019, the position of Mr. Li, Sishan under NEW WEATHER FORCES GROUP, INC. should have been read as Customer Service Representative – Mandarin and not as published. Lastly, the ad material published on October 19, 2019, the name of Mr. Zhuo, Aobo under NEW WEATHER FORCES GROUP, INC. should have been read as Mr. Zhou, Aobo and not as published.

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE NCR Regional Office located at 967 Maligaya St., Malate, Manila, within 30 days after its publication.

Please inform DOLE NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

BusinessMirror

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Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HAICHANG QIN/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. KAIXIN LI/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. SHUZHU YAN/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YUAN LI/ Chinese

Chinese Customer Service Representative

Position and Brief Description of Functions

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. DINGPIN LIN/ Chinese

Chinese Customer Service Representative

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QIANQIAN MA/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. XIAOXIAO LI/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YANG YANG/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YULU HUANG/ Chinese

Chinese Customer Service Representative

Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 December 18, 2019

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP) Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s.

Name and Address of Company/Employer

Name and Citizenship of Foreign National

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIE LIANG/ Chinese

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. NELSON VOO SHI TZE/ Malaysian

Malaysian Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHENKAI JIN/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JIAO ZHU/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHAO LIU/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. LI LI HLAING/ Burmese

Myanmari Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. ERQIAN GAO/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. SHUAIBING ZHANG/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIANG GUO/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QI WANG/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YUNCHUAN DU/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. TING WANG/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. DOUDOU XIE/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. FUZENG CAO/ Chinese

Chinese Customer Service Representative

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHUANDONG WU/ Chinese

Chinese Customer Service Representative

47

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. BEN CHEN/ Chinese

Chinese Customer Service Representative

11

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. AYE AYE KHAING/ Burmese

Myanmari Customer Service Representative

48

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YINGPENG LIAO/ Chinese

Chinese Customer Service Representative

12

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHENGZHENG JIANG/ Chinese

Chinese Customer Service Representative

49

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. MING ZHANG/ Chinese

Chinese Customer Service Representative

13

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. SHAN AYE/ Burmese

Myanmari Customer Service Representative

50

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. MENGDI ZHANG/ Chinese

Chinese Customer Service Representative

14

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LONGFEI WANG/ Chinese

Chinese Customer Service Representative

51

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIAOJIE WANG/ Chinese

Chinese Customer Service Representative

15

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. AYE AYE MYINT/ Burmese

Myanmari Customer Service Representative

52

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. RONGZHEN YANG/ Chinese

Chinese Customer Service Representative

16

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. LUONG THUY BINH/ Vietnamese

Vietnamese Customer Service Representative

53

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. GUOQING QU/ Chinese

Chinese Customer Service Representative

17

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. MAH CHUNG YEEP/ Malaysian

Malaysian Customer Service Representative

54

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIANG MA/ Chinese

Chinese Customer Service Representative

18

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHIPENG LYU Chinese

Chinese Customer Service Representative

55

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. GUOJIAN ZHAO/ Chinese

Chinese Customer Service Representative

19

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YABO YANG/ Chinese

Chinese Customer Service Representative

56

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. XIN WANG/ Chinese

Chinese Customer Service Representative

20

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. DIANHUA MA/ Chinese

Chinese Customer Service Representative

57

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JIAOJIAO LI/ Chinese

Chinese Customer Service Representative

21

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. QIUYAN WEI/ Chinese

Chinese Customer Service Representative

58

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. MENGJIE LIU/ Chinese

Chinese Customer Service Representative

22

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LE NGOC TUAN/ Vietnamese

Vietnamese Customer Service Representative

59

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

23

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIARONG DAI/ Chinese

Chinese Customer Service Representative

60

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIAODONG WANG/ Chinese

Chinese Customer Service Representative

MR. MINGSHUAI REN/ Chinese

Chinese Customer Service Representative

61

24

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QI CHEN/ Chinese

Chinese Customer Service Representative

62

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIANG LI/ Chinese

Chinese Customer Service Representative

63

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JUN JIANG/ Chinese

Chinese Customer Service Representative

64

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YANG DU/ Chinese

Chinese Customer Service Representative

65

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZIZHAN JIA/ Chinese

Chinese Customer Service Representative

66

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JINZE LIN/ Chinese

Chinese Customer Service Representative

67

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. WUHENG ZHANG/ Chinese

Chinese Customer Service Representative

68

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. PANPAN ZHU/ Chinese

Chinese Customer Service Representative

69

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JING LUO/ Chinese

Chinese Customer Service Representative

70

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZUNQIN MIN/ Chinese

Chinese Customer Service Representative

3

25

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. PINGCHONG LEI/ Chinese

Chinese Customer Service Representative

26

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. AUNG MIN OO/ Burmese

Myanmari Customer Service Representative

27

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. ZHOULI YANG/ Chinese

Chinese Customer Service Representative

28

29

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. BUI MINH HUYEN/ Vietnamese

MR. CHAO SHI/ Chinese

Vietnamese Customer Service Representative

MR. YANGYANG QIAO/ Chinese

Chinese Customer Service Representative

Chinese Customer Service Representative

30

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIACHENG GENG/ Chinese

Chinese Customer Service Representative

31

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LE HONG HAI/ Vietnamese

Vietnamese Customer Service Representative

32

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHAO JIANG/ Chinese

Chinese Customer Service Representative

BusinessMirror

A18 Wednesday, December 18, 2019

Name and Address of Company/Employer

Name and Citizenship of Foreign National

Position and Brief Description of Functions

Name and Address of Company/Employer

www.businessmirror.com.ph

Name and Citizenship of Foreign National

Position and Brief Description of Functions

71

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHUANXIANG LIU/ Chinese

Chinese Customer Service Representative

107

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. CUIWEI AN/ Chinese

Chinese Customer Service Representative

72

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YOUCHENG SU/ Chinese

Chinese Customer Service Representative

108

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. SHUHUI LIU/ Chinese

Chinese Customer Service Representative

73

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HUAN ZHANG/ Chinese

Chinese Customer Service Representative

109

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHENG YANG/ Chinese

Chinese Customer Service Representative

74

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. KAIQI LIU/ Chinese

Chinese Customer Service Representative

110

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR . WENJUN QI/ Chinese

Chinese Customer Service Representative

75

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. NAING WIN AUNG/ Burmese

Myanmari Customer Service Representative

111

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YAO LIU/ Chinese

Chinese Customer Service Representative

76

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIANJUN ZHANG/ Chinese

Chinese Customer Service Representative

112

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YU ZHANG/ Chinese

Chinese Customer Service Representative

77

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. NAN AYE AYE PHYO/ Myanmari

Myanmari Customer Service Representative

113

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. DESONG XING/ Chinese

Chinese Customer Service Representative

78

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. BOBO CAO/ Chinese

Chinese Customer Service Representative

114

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. WEIJIA HU/ Chinese

Chinese Customer Service Representative

79

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. FENGBO LIU/ Chinese

Chinese Customer Service Representative

115

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. SANGJIAO DAI/ Chinese

Chinese Customer Service Representative

80

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHENBO WANG/ Chinese

Chinese Customer Service Representative

116

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YISI QIN/ Chinese

Chinese Customer Service Representative

81

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YAN WANG/ Chinese

Chinese Customer Service Representative

117

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHAOMIN ZHANG/ Chinese

Chinese Customer Service Representative

82

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHIFENG LIU/ Chinese

Chinese Customer Service Representative

118

MR. XUDONG JI/ Chinese

Chinese Customer Service Representative

MR. WEI WU/ Chinese

Chinese Customer Service Representative

83

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

84

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. TING YANG/ Chinese

Chinese Customer Service Representative

119

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JINGYANG LI/ Chinese

Chinese Customer Service Representative

85

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. THAN HTIKE OO/ Burmese

120

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JUNHUA LIAO/ Chinese

Chinese Customer Service Representative

86

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YANXIAO CAI/ Chinese

Chinese Customer Service Representative

121

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LIM KOK THONG/ Malaysian

87

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIAWEI DU/ Chinese

Chinese Customer Service Representative

122

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JIAO HE/ Chinese

Chinese Customer Service Representative

88

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YONG CAO/ Chinese

Chinese Customer Service Representative

123

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YUJIAN LIU/ Chinese

Chinese Customer Service Representative

89

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHENWEI SUN/ Chinese

Chinese Customer Service Representative

124

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. DONGGUAN NIU/ Chinese

Chinese Customer Service Representative

90

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIE YU/ Chinese

Chinese Customer Service Representative

125

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. LE THANH TAM/ Vietnamese

Vietnamese Customer Service Representative

91

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. XIAOHUI SHEN/ Chinese

Chinese Customer Service Representative

126

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHONG SUI/ Chinese

Chinese Customer Service Representative

92

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YUCAI LI/ Chinese

Chinese Customer Service Representative

127

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YANWU ZHANG/ Chinese

Chinese Customer Service Representative

93

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. MINGQI HAN/ Chinese

Chinese Customer Service Representative

128

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. XUMEI DENG/ Chinese

Chinese Customer Service Representative

94

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. KAI WU/ Chinese

Chinese Customer Service Representative

129

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. TIANYU WANG/ Chinese

Chinese Customer Service Representative

95

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. PHAM THI HUYEN ANH/ Vietnamese

130

MS. HUANHUAN TIAN/ Chinese

MR. PENGLIN LYU/ Chinese

Chinese Customer Service Representative

96

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

131

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHUNNIU WANG/ Chinese

Chinese Customer Service Representative

132

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. XIAOXIN WEI/ Chinese

Chinese Customer Service Representative

133

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. DUAN BAO/ Chinese

Chinese Customer Service Representative

134

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. KAI YAN/ Chinese

Chinese Customer Service Representative

135

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JING YANG/ Chinese

Chinese Customer Service Representative

136

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YALEI SONG/ Chinese

Chinese Customer Service Representative

Myanmari Customer Service Representative

Vietnamese Customer Service Representative Chinese Customer Service Representative

97

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XINZHOU LI/ Chinese

Chinese Customer Service Representative

98

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. XIUYAN ZHU/ Chinese

Chinese Customer Service Representative

99

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YUEXIN HU/ Chinese

Chinese Customer Service Representative

100

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. LIRONG WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHENGLONG ZHANG/ Chinese

Chinese Customer Service Representative

101

MR. SHIGANG DONG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. 103 Brgy. Binakayan, Kawit, Cavite

MS. LIU YANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. 104 Brgy. Binakayan, Kawit, Cavite

MR. GANG DAI/ Chinese

Chinese Customer Service Representative

137

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHIHAO FENG/ Chinese

Chinese Customer Service Representative

105

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. WENQIN LI/ Chinese

Chinese Customer Service Representative

138

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. TWAN YEE KYI/ Burmese

Myanmari Customer Service Representative

106

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. DONGPING GUO/ Chinese

Chinese Customer Service Representative

139

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. LYU SHWIN KYAUNG/ Burmese

Myanmari Customer Service Representative

102

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Malaysian Customer Service Representative

BusinessMirror

www.businessmirror.com.ph

Name and Address of Company/Employer

Name and Citizenship of Foreign National

140

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HU WU/ Chinese

141

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

142

Position and Brief Description of Functions

Name and Address of Company/Employer

Wednesday, December 18, 2019 A19

Name and Citizenship of Foreign National

Position and Brief Description of Functions

Chinese Customer Service Representative

170

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. BEIHONG LIU/ Chinese

Chinese Customer Service Representative

MS. MYAT NOE THU/ Burmese

Myanmari Customer Service Representative

171

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. HU SIN SHWE/ Burmese

Myanmari Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. GUIYOU LONG/ Chinese

Chinese Customer Service Representative

172

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. QIUPING CHENG/ Chinese

Chinese Customer Service Representative

143

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. SHI SIKE HWAN/ Burmese

Myanmari Customer Service Representative

173

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIABAO LUO/ Chinese

Chinese Customer Service Representative

144

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YIJIANG WU/ Chinese

Chinese Customer Service Representative

174

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIANGYU CAO/ Chinese

Chinese Customer Service Representative

145

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LICHAO CHEN/ Chinese

Chinese Customer Service Representative

175

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. SHUIPING YOU/ Chinese

Chinese Customer Service Representative

146

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YAO FENG/ Chinese

Chinese Customer Service Representative

176

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JUNRONG TANG/ Chinese

Chinese Customer Service Representative

147

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHIWEI YAN/ Chinese

Chinese Customer Service Representative

177

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. KAIWEN LIANG/ Chinese

Chinese Customer Service Representative

148

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. LILIN YANG/ Chinese

Chinese Customer Service Representative

178

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. KE LIN/ Chinese

Chinese Customer Service Representative

149

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. SIZE ZHENG/ Chinese

Chinese Customer Service Representative

179

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. BING WEN/ Chinese

Chinese Customer Service Representative

150

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. TIANCAI JIN/ Chinese

Chinese Customer Service Representative

180

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. CHUNYAN WEN/ Chinese

Chinese Customer Service Representative

151

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. WIN ZAW OO/ Myanmari

Myanmari Customer Service Representative

181

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIANSHANG ZHUO/ Chinese

Chinese Customer Service Representative

152

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YAJIE FENG/ Chinese

Chinese Customer Service Representative

182

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JUNDONG LONG/ Chinese

Chinese Customer Service Representative

153

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. HWAY TI/ Myanmari

Myanmari Customer Service Representative

183

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZERONG PAN/ Chinese

Chinese Customer Service Representative

154

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHANGBING WU/ Chinese

Chinese Customer Service Representative

184

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Mr. XIAOBAO CHEN

Chinese Customer Service Representative

155

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. PEIFENG LIU/ Chinese

Chinese Customer Service Representative

185

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

Ms. CHAI SHU PIENG

Chinese Customer Service Representative

156

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. GUOQUAN XU/ Chinese

Chinese Customer Service Representative

186

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. CONG GUO/ Chinese

Chinese Customer Service Representative

157

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. AIHUA DU/ Chinese

Chinese Customer Service Representative

187

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LONG YANG/ Chinese

Chinese Customer Service Representative

158

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HAOFEI QIU/ Chinese

Chinese Customer Service Representative

188

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YANMEI SHEN/ Chinese

Chinese Customer Service Representative

159

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. HUA Y NHI/ Vietnamese

Vietnamese Customer Service Representative

189

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LINZHENG LI/ Chinese

Chinese Customer Service Representative

160

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QIANG PANG/ Chinese

Chinese Customer Service Representative

190

QUALISERV PHILIPPINES INC. FPIP Sto. Tomas, Batangas

MR. SUNAO ODA/ Japanese

General Manager

161

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YANFANG CHEN/ Chinese

Chinese Customer Service Representative

162

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. DEBAO ZHANG/ Chinese

Chinese Customer Service Representative

ISUZU AUTOPARTS MANUFACTURING CORPORATION 191 SEZ, Laguna Technopark, Biñan City, Laguna

MR. KENICHI IRISA/ Japanese

MR. RAKESH SINGH/ Indian

MR. HARUO MIYAGAWA/ Japanese

MOA CLOUDZONE CORP. 163 Brgy. Binakayan, Kawit, Cavite

MS. LIN LI/ Chinese

Chinese Customer Service Representative

WELGAO ELECTRONIC TECHNOLOGY (PHILIPPINES) 192 INCORPORATED FCIE, Brgy. Langkaan, Dasmariñas City, Cavite

MOA CLOUDZONE CORP. 164 Brgy. Binakayan, Kawit, Cavite

MR. MENGQING SU/ Chinese

Chinese Customer Service Representative

FCM CO., LTD-PHILIPPINE 193 REPRESENTATIVE OFFICE Brgy.

Pulo, Cabuyao, Laguna

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. QING LEI/ Chinese

Chinese Customer Service Representative

166

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. LIE LI/ Chinese

Chinese Customer Service Representative

167

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. XUE FENG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. NGO THOAI LAN/ Vietnamese

165

168

MOA CLOUDZONE CORP. 169 Brgy. Binakayan, Kawit, Cavite

MS. QINGLIN YANG/ Chinese

Director

Sales Manager

Representative Director

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at the DOLE Regional Office within 30 days from the date of publication.

Please inform the DOLE Regional Office if you have an information of any criminal offense committed by the foreign nationals.

HENRY JOHN S. JALBUENA Regional Director

Vietnamese Customer Service Representative Chinese Customer Service Representative

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph AEP20191007293

A20 Wednesday, December 18, 2019

Hino conducts eco-driving training for drivers

Be merry and avail of Club Ananda’s promos this December!

F

OR your wedding, choose Club Ananda and enjoy nature’s perfect view plus amazing amenities!

Exclusive this month, clients are in for special treats, exciting discounts and freebies. Soon-to-wed couples may choose a package, book Club Ananda, and instantly get 10% discount on the venue rental and an additional 30% discount on rentals of Ananda House, or Ephesus House. Or, whenever they book any of the ceremony styling packages, or promo packages, they get to choose one (1) of the following freebies: Waterpark or Garden 2-hour extension rental for free; The Lab Confectioner dessert buffet for 30 pax; Greasy Lab food cart; Stat Photobooth mirror booth; and Waveforce Basic Lights and Sounds package.

And it is so easy to avail! All soon-towed couples have to do is to pay a P20,000

reservation fee from December 1 to 31, 2009 and present their receipts.

The accredited suppliers participating in the promo include: Hizons Catering, 128 Catering, Confectioner’s Lab, GQ Mobile Bar, Styletech, Lovely Moments Hair and Makeup Artist, String Lights, Waveforce, Events Management Services, Stat Events and Management, Princess Apple Events, Howard (host), Dragon Fireworks, Forrent, Freshminds, Don Robert’s Bridal Car, Tent King, and Jhoemar Jack (bridal attire).

So, hurry and book Club Ananda now!

Please be advised that this promo cannot be availed with other existing promos of Club Ananda. For complete promo details, please contact the Marketing Dept at +63 917 550 6873, or Club Ananda’s Facebook page (@clubanandamain) and Instagram account (@club_ananda).

Malaysia group launches Socium, URH in PH

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USANTARA VVIPS Group - Malaysia headed by Dato Paduka Hasnizal Hassan, acknowledged as Asia’s Dynamic Leader, recently launched Socium Holdings and United Royale Holdings in partnership with the Philippines-based Asia Pacific Awards Council (APAC) headed by Eagle Chairman Dr. Jake Navea, PhD. The launching was integrated with the 40th Top Choice Global Awards held recently at Novotel, Quezon City, Philippines attended by over 20 countries worldwide.

Socium Holdings, based in Thailand, headed by Staffan Liback, the 2019 Global Energy Provider Awardee, promotes the advocacy of turning wastes and pollutants into valuable energy, while United Royale Holdings led by its COO David Edwin Evans promotes profitable investments through tree reforestation worldwide.

Other major participants – honorees are Pinnacle Exchange (PINX) based in Singapore headed by Dato Seri Relawati,

adjudged as Outstanding Global Research & Consumer Services Company and TF Travel based in Kuala Lumpur headed by Datin Catherine Tung and Krystel Lee. The global launching of the Golden Eagles Club International (GECI), an international organization of civic and

business individuals which principally advocates humanitarian services, was also held during the event. For details, log on at www.worldexcellence.net, www. sociumholdings.com and www.unitedroyale. com. Mobile: 0906-4884787 or 09477292675.

Suzuki Phils. inaugurates 77th dealership in Ilocos Norte

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DVANCING its commitment to deliver top-quality products and services to more Filipinos, Suzuki Philippines (SPH), the country’s pioneer compact car distributor, expands its reach in the northern part of the country with a new 3S dealership in Ilocos Norte.

Suzuki Auto Ilocos Norte is Suzuki’s 77th dealership nationwide and the 13th dealership under the supervision of Grand Canyon Multi-holdings, Inc., which has recently held a groundbreaking ceremony for the Suzuki Auto Tagum targeted to open by 2020.

Besides strengthening its presence in North Luzon, the new Suzuki dealership aims to engage in the local business

and culture of our fellow Ilocanos and contribute to further growing the livelihood industry of Ilocos region by providing convenient and accessible car dealership with variety of vehicles that suit the locales’ commercial and passenger vehicle needs.

“Continuing our business momentum this year, we are very pleased to prove to our Filipino market our commitment to bring Suzuki vehicles to more locations nationwide. We have made it easier and more accessible for more Ilocanos to experience the Suzuki Way of Life through our award-winning and engineered-for-excellence Suzuki vehicles. We are excited to see them in the new Suzuki Auto Ilocos Norte,”

shared SPH Director and General Manager for Automobile Division Keiichi Suzuki.

Suzuki Auto Ilocos Norte is located at Brgy. 16, San Nicolas. All well-loved Suzuki vehicles, including the recently launched All-New Carry together with the New Vitara, All-New Jimny, Suzuki Swift, Dzire, and the All-New Ertiga, will be available at Suzuki Auto Ilocos Norte.

“Aside from our firm belief in and reliance on Suzuki and its vehicles, we see a strong potential in Ilocos Norte to contribute to local economic progress not just as a tourist district but also, and more importantly, as a promising business zone,” shared Grand Canyon Chairman Peter Po.

SeaGames'SingaporeTeamgiftsQuestPlus'Abetochildren

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HE spirit of Christmas was evident during the gift-giving event headed

by Christopher Chan, Secretary General of the Singapore National Olympic Council, in partnership with Quest Plus Conference Center Clark, last December 9, 2019 at the Duyan ni Maria Children’s Home.

Chan was inspired to donate and do a gift-giving activity when he received

an Abe bear gift from Quest Plus Clark wherein proceeds from the purchase of the toy will be donated to chosen beneficiaries, one of which is Duyan ni Maria—a home for orphaned children in Mabalacat, Pampanga.

Together with the athletes of the Singapore Team, Chan visited the orphanage where they were happily welcomed by the children and by Sister

Alessandrina Casas, the founder of the organization. The Singapore team donated Abe bears, clipped with the official Singapore Team’s SEA Games pin, cakes and pastries from Quest Plus, and a generous amount of shopping vouchers which will be used to make the children’s Christmas wishes come true.

Singapore team athletes also had the chance to interact and inspire the children during the activity. They gamely posed for photos and were all smiles as they handed Abe bears to each child.

You can also do your part in granting the wishes of the children of Duyan ni Maria and other beneficiaries of Quest Plus Clark. For every purchase of Abe the Christmas bear and Disenyong Pinatubo ornaments at the hotel lobby, part of the proceeds will be donated to the beneficiaries. For more information, please call (045)599 8000 or message Quest Plus Clark on Facebook.

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INO Motors Philippines (HMP), exclusive manufacturer of Hino trucks and buses in the country, recently conducted another eco-driving training for drivers. The program, a testament to Hino’s Total Support promise and part of the company’s initiatives to promote environment-friendly and sustainable transportation, is a one-day workshop that includes safety and eco-driving orientation, hands-on driving sessions and driving efficiency evaluation.

Hino’s eco-driving training program series aims to teach participants how to promote safety, improve fuel efficiency, lower vehicle operation costs and help save the environment when driving. This recent leg of the training series welcomed 15 customer drivers from Hino Pasig, Hino U.N. Avenue and Hino Parañaque dealerships.

“We did the pilot run of our eco-driving

training in Nueva Ecija last year. We are positive that through this program, we will be able to guide vehicle users on how to reduce fuel costs through efficient, eco-friendly driving. In our previous sessions, we saw a 25 percent to 30 percent increase in driving efficiency among our participants. We are happy that with this training series, Hino is able to help not only its customers but the environment as well,” shares HMP Training Department Head, Joel Agcaoili.

The program is slated to expand to Hino’s dealerships and partnerships in Visayas and Mindanao by next year. Aside from the ecodriving training program, HMP conducts sessions on safety driving, sales executives’ training and dealers’ training.

For more information about HMP and its training programs, follow them on Facebook at facebook.com/HinoMotorsPH/ and on Twitter @HinoMotorsPH.

Buy a Toyota this December and win a brand new Vios, instant cash discounts

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TOTAL of 12 brand new Vios units will be given away to 12 lucky Toyota customers who will win the raffle after purchasing any of the participating models from December 9 to 20. To qualify for the raffle, customers only need to purchase a Vios, Fortuner, Hilux (except Cabin & Chassis), Rush, Hiace (FMC GL Grandia & Commuter Deluxe and Pre-FMC Commuter), Innova, Wigo, Altis (FMC & Pre-FMC) or Avanza (MC & Pre-MC) from any of Toyota's 70 dealerships nationwide.

All customers who will reserve an Innova (all variants), Wigo (all variants), Avanza MC (E A/T and E M/T) and PreMC (all variants), Hiace GL Grandia and Commuter Deluxe will also be eligible to pick an instant prize in the form of cash discounts as much as P50,000.

Flexible payment deals and options are also available for several participating Toyota models: Vios (FMC), Fortuner,

Hiace (Pre-FMC), Hilux and Rush from December 1 to 31; and Wigo, Avanza (MC), Hiace (FMC) and Innova from December 9-20. Details can be read online at http://toyota.com.ph/ yearendblowout/.

Pag-IBIG Fund to raise decades-old savings rate in 2021

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FTER months of public consultations and getting the support of both labor and employer groups, Pag-IBIG Fund will soon raise the three decades-old P100 monthly savings rate of its members.

On November 6, the agency’s 11-member Board of Trustees approved the increase of the Pag-IBIG Fund members’ mandatory monthly savings from the current P100 to P150 by January 2021, and to P200 by January 2023. The same increase shall also be applied to the counterpart share shouldered by employers.

“President Rodrigo Roa Duterte has standing orders to consider the plight of the Filipino workers, we have decided to implement the adjustment over a staggered period to allow all our stakeholders to prepare,” said Secretary Eduardo D. del Rosario, Chairman of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti noted that the

increase in the demand for the agency’s home loans may soon outpace the growth in its collections partly derived from the P100 monthly savings of its members.

“The demand for our home loans has grown tremendously through recent years. To give you a better idea, in 2014, our home loan releases totaled P40.5 billion but in 2018, the amount almost doubled to P75.3 billion. And we have been able to sustain the double-digit growth so far in 2019. Our home loan releases from January to October increased 13% yearon-year to P66.47 billion,” Moti said.

“At the current monthly savings rate, in addition to our housing and short-term loan payment collections, we have more than enough funds to support up to 10% average growth rate in home loans. But we expect demand to remain strong with growth at around 15% annually in the coming years.

Adjusting the monthly savings amount will provide the necessary additional funds to sustain the low loan interest rates we currently offer to our members,” he added.

Typhoon Kammuri affects 14 million children; World Vision stands ready to support

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YPHOON Kammuri made its first landfall in Prieto Diaz, Sorsogon at around 11pm on December2.

Kammuri intensified just before it hit the landmass with a maximum sustained winds of 165km/h near its center and 230km/h gusiness.

Information from the Department of Education’s Disaster Risk Reduction and Management Service (DRRMS) shows that 14 million learners are affected due to class suspensions across more than 26,000 schools in 12 regions. Meanwhile, UNOCHA’s Joint Analysis of Disaster Exposure data says that there are at least nine million people in the affected areas – Camarines Sur, Albay,

Quezon, Catanduanes, and Camarines Norte, 300,000 children of whom are living in places with possible widespread damage.

“As a child-focused organization, our focus is to complement the government’s efforts in ensuring that these children are safe and protected. World Vision is present in Pio Duran in Albay, Bulan in Sorsogon, Jose Panganiban in Camarines Norte and Lagonoy in Camarines Sur. Our team on the ground is set to conduct rapid assessment as soon as it is safe to do so,” says World Vision’s Executive Director Rommel V. Fuerte.

For news and updates, visit www. worldvision.org.ph

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, December 18, 2019

B1

Phoenix seeks suspension of permit for LNG project

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By Lenie Lectura

@llectura

ennis Uy-led Phoenix Petroleum and China National Offshore Oil Corp. (CNOOC) Gas and Power Group Co. Ltd. have asked the Department of Energy (DOE) for a temporary suspension of the permit to proceed with their liquefied natural gas (LNG) project.

sidiary of Chevron Philippines Ltd. “We are evaluating if this is possible within the PDNGR [Philippine Downstream Natural Gas Regulation], if there is a provision there.

It appears that the business model is now different because they have been interested in the 45-percent participating interest of Chevron in Malampaya. That changes the configuration, the approach and that is why they asked for a suspension,” said Marcos.

The DOE wants the issue settled before the year ends.

The other firms that secured NTP from the DOE are FGen LNG Corp., a subsidiary of First Gen Corp. and US-based firm Excelerate Energy LP. The NTP is valid for six months only. It can be extended for another six months, subject to the DOE’s evaluation.

CNOOC is China’s largest LNG importer and terminal operator.

Shareholders had approved Phoenix Petroleum’s partnership with CNOOC for the LNG hub in March.

In March, Phoenix Petroleum

Philippines Inc. reported that its shareholders approved the oil firm’s partnership with CNOOC for the planned LNG hub.

Tanglawan’s LNG project will consist of regasification and receiving terminal with a capacity of 2.2 metric tons per annum. The facility will help support the demand for a clean, competitive and environment-friendly energy source in Luzon, and provide energy security for the country.

It also aims to develop a gas-fired power generation facility with up to 2,000 megawatts installed capacity.

Phoenix Petroleum and CNOOC signed a memorandum of understanding with state-owned firm Philippine National Oil Co. The MOU will allow the three companies to explore and discuss business opportunities and cooperation in relation to the equity investment in Tanglawan and other companies relating to the project, PNOC facilities, market development, PNOC banked gas and future energy projects.

“Both companies in the partnership asked for a suspension. Separately, they asked but the tone was the same,” Energy Undersecretary Donato Marcos said on Tuesday.

The request for suspension involves the notice to proceed issued to Tanglawan Philippine LNG Inc., the joint venture of Phoenix and CNOOC, by the DOE. The NTP was already an extension of the first permit issued last December 21, 2018.

It is set to expire this month.

The reason cited for the suspension request was mainly brought about by Udenna Corp.’s (UC) acquisition of international petroleum giant Chevron’s 45-percent stake in the Malampaya gas field project.

Uy said the deal involved the acquisition by UC Malampaya Philippines Pte Ltd., a subsidiary of Udenna, of 100 percent of the shares of Chevron Malampaya Llc., a sub-

ICTSI’s Pakistan unit gets ISO certification

Cebu Pacific joins International Air Transport Association

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he Pakistani subsidiary of International Container Terminal Services Inc. (ICTSI) has obtained an integrated international standard for occupational health and safety certificate from the International Organization for Standardization (IOS).

In a statement, the Razon-led company said Pakistan International Container Terminal (PICT) recently received the ISO 45001:2018 certification, which demonstrates its compliance with the new global standard for a safe and healthy workplace.

ISO 45001:2018 requires companies to have an occupational health and safety management system, as well as to commit to the continual improvement of their systems to provide a safer and healthier workplace.

The Port of Karachi is the first container terminal in Pakistan to obtain the said certification. “ T his certification demonstrates our commitment to enhance employee well-being and achieve customer service excellence by implementing best practices in quality, health and safety. By integrating the highest international standards in our systems and processes, we are continuously working to provide our valued clients with the highest quality of service,” said PICT CEO Khurram Aziz Khan.

For his part, ICTSI Senior Vice President and Regional Head of Asia-Pacific Andrew Dawes said his group is “committed toward providing a safe and healthy workplace for employees, contractors and port stakeholders alike by implementing and maintaining health, safety and environment management systems across its global operations, and mitigate the risks related to its business activities.”

“These certifications, equally crucial in improving our safety culture, ensures the ICTSI Group’s collective efforts toward zero harm.

ICTSI remains steadfast in its drive to prevent serious incidents and ensure that every employee, contractor or visitor coming in every ICTSI port goes back home safely,” he said. Lorenz S. Marasigan

TOP COMPANIES BACK GOVT WAR ON WASTE

By Jonathan L. Mayuga @jonlmayuga

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op executives of major companies have committed to support the Department of Environment and Natural Resources’ (DENR) call for a collaboration between the government and the private sector to address the garbage crisis in Metro Manila.

In the recent Pilipinas Conference hosted by the Stratbase Group in Bonifacio Global City, leaders from the government, the private sector, the academe and environmental advocacy groups pushed for a balanced approach and harmonized solutions to the waste problem.

This came as Environment Secretary Roy A. Cimatu convened a high-level meeting of so-called “mandamus agencies” to discuss ways to “clean and green” the Pasig River.

Repeatedly, the DENR chief has sought the cooperation of various stakeholders, particularly the private sector, to address the garbage crisis, saying the DENR cannot do it alone.

His appeal to the private sector yielded positive results, with top company officials affirming their support.

“A smarter approach other than the traditional regulatory tools imposing bans or taxes is to focus on instilling discipline for consumers to responsibly dispose of trash in parallel with enabling policies that encourage new innovations for packaging materials and waste management systems," Prof. Dindo Manhit, managing director and CEO of Stratbase Group said in a statement.

“Stewardship of the environment should be everybody’s concern. The task to protect and preserve the environment is not just the government’s business, it’s everybody’s business”, Manhit added.

Coca-Cola Philippines General Manager and President Winn Everhart presented the beverage company’s “World Without Waste” global initiative during the conference.

Under the initiative, the company aims “to collect and recycle every bottle or can sold by 2030.” It also committed to build a P1-billion PET bottle recycling facility—the first in Southeast Asia that would substantially reduce the waste leakage in the Mega Manila area.

Everhart said Coca-Cola Philippines also teamed up with nongov-

ernment organizations through the Blastik project—a full circle collection and recycling program in 13 areas, including Bataan, Cavite, Albay, Baler, Palawan, Siargao, Davao, Boracay, La union, Negros Occidental, Marinduque, Sarangani and Metro Manila.

Unilever Philippines Chairman Benjie Yap, on his part, discussed the company’s "Zero Waste to Nature" program and its “ambitious new commitments to collect and process more than it sells and halve use of virgin plastic.” The initiative commits to produce 100-percent reusable, recyclable and compostable packaging by 2025 and invest in technical solution to recycle sachets produced by the industry.

Unilever also presented ongoing environment programs, such as the “Misis Walastik,” which collects sachet waste in more than 300 communities in Metro Manila; the “Kolek, Kilo, Kita, para sa Walastik na Maynila,” which incentivizes plastic waste collection under the “May Pera sa Basura” project of Manila Mayor Isko Moreno Domagoso; and other innovations in sustainable packaging and alternative delivery systems.

Maynilad President and CEO Ramoncito Fernandez stressed the importance of having sustainability strategies. He said the west zone water concessionaire invested some P40.7 billion in the nonrevenue water program, where 360,000 leaks were repaired in 2,300 kilometers of old pipes, resulting in the recovery of 700 million liters in the last 12 years.

Fernandez also discussed the award-winning “Sining Ipo” program for the Dumagat Tribe; the “Plant for Life” project, where 800,000 trees and mangroves were planted in the Ipol Laguna Lake, and Malabon Watersheds and Manila Bay coastal area; and the “Daloy Dunong” education program that educates children and parents about environmental protection and water sanitation.

Philippine Business for Environmental Stewardship Convenor Carmelo Bayarcal welcomed the initiatives of the big manufacturing brands to work with the government "as they realign operations and invest heavily in proactive initiatives to perform their critical role in the circular ecosystem to mitigate pollution and integrate waste management at all levels.”

PHL miners bag Asean award Conrad Clifford (left), Regional Vice President for Asia-Pacific of the International Air Transport Association, presents the IATA certificate of membership to Cebu Pacific President and CEO Lance Gokongwei.

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eading Philippine carrier Cebu Pacific (CEB) is now a member of the International Air Transport Association, the trade association for the global airline industry. CEB is IATA’s largest member among Philippine carriers, comprising 44 percent of total domestic passenger volume and 46 percent of total domestic cargo, based on data from the Philippines’s Civil Aeronautics Board.

IATA is comprised of over 290 member-airlines from 117 countries, representing 82 percent of global air traffic. With some of the world’s leading passenger and cargo airlines as members, IATA represents, leads and serves the airline industry.

Cebu Pacific was formally inducted into IATA by Conrad Clifford, regional vice president for Asia-Pacific. The IATA team also briefed top management of Cebu Pacific on IATA governance, industry concerns and how the organization can support CEB’s expan-

sion plans.

“We are pleased to join IATA as we can gain access to expertise and learnings on best practices and innovations among global airlines, as well as help formulate policies on critical aviation issues. Moreover, we will also be able to share our own operational experience and contribute to further developing the airline industry as a whole,” said Lance Gokongwei, president and CEO of Cebu Pacific.

For his part, Clifford said the entry of Cebu Pacific augurs well for the growth of the country’s travel and tourism sector.

“We warmly welcome Cebu Pacific, Asia’s oldest low-cost carrier, to the IATA family. Today about 20 percent of our members globally are low-cost carriers and we encourage more to join. We look forward to working together with the Cebu Pacific team to help shape industry standards, best practices and policies that ensure the safe, efficient and sustainable

growth of aviation in the Philippines and Asia. Together with our 290-plus member-airlines, we make aviation the business of freedom,” said Clifford.

Cebu Pacific achieved full compliance with the IATA Operational Safety Audit, joining a registry of 437 carriers worldwide that have strictly complied with an internationally recognized and accepted evaluation system designed to assess the operational management and control systems of an airline.

Recently, Cebu Pacific was named the Most Improved Airline for 2020 by airline safety and product review web site airlineratings. com, citing the carrier’s commitment to “expand its global footprint using new generation fuel-efficient aircraft.”

As of end-September 2019, Cebu Pacific ramped up capacity by 23 percent, totaling 19 million seats.

The carrier flew close to 16 million passengers on 121 routes with more than 2,600 weekly flights.

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HREE mining companies from the Philippines were adjudged winners at the recently concluded second Asean Mineral Awards (AMA) held in Bangkok, Thailand.

The awards is a biennial event that recognizes mineral resource companies for achieving best practices in environmentally and socially sustainable operations.

The winners, all members of the Chamber of Mines of the Philippines (COMP), are large-scale miners that passed the environmental standards set by mining regulators.

Coral Bay Nickel Corp., which operates a nickel processing plant in Rio Tuba, Bataraza, Palawan, emerged with the best practices award for the Philippines in the metallic mineral processing category. Rio Tuba Nickel Mining Corp., also in Bataraza, was named runner-up in the metallic mineral mining category while Agata Mining Ventures Inc. was also named runner-up in the Metallic mineral distribution category. In the non-metallic category, Lafargeholcim bagged runner-up awards in both the mining and

processing categories.

The AMA is an initiative of the Asean mining ministers to recognize best practices in sustainable mineral mining, processing and distribution among its various member-countries.

The Awards, launched in 2017 in Myanmar, saw the Philippines garnering 2 of the 3 awards handed out, with Rio Tuba Nickel recognized for best mining practices and OceanaGold Philippines Inc. for best plant. Since then, the AMA has been expanded to six categories, with nonmetallic minerals separate from metallic minerals.

“We are extremely pleased that again, Philippine minerals resource companies were recognized for best practices in the various categories,” Gerard Brimo, COMP chairman, said in a statement.

“We hope this recognition will demonstrate that we have worldclass mineral operations in our country even as we in COMP strive to raise the bar by subscribing to new global mining standards of excellence, such as the Towards Sustainable Mining initiative.

Jonathan L. Mayuga

B2

Companies BusinessMirror

Wednesday, December 18, 2019

PSE STOCK QUOTATIONS

December 17, 2019

Net Foreign Bid Ask Open High Low Close Volume Value Trade (Peso) Stocks Buy (Sell) FINANCIALs

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING FERRONOUX HLDG IREMIT MANULIFE PHIL STOCK EXCH VANTAGE

53.25 160 84.55 24.75 12.76 64.05 12.02 34.6 57.1 22.1 194 57.8 0.89 1.95 3.8 1.16 830 173 1.05

54 161 84.6 24.8 12.9 64.2 13 35.2 58.4 22.95 196.5 58 0.9 2 4.11 1.29 834.5 175 1.08

53.1 156.2 87.3 25 13 66.4 12.7 35.8 57.1 23.55 197 58.3 0.94 1.99 3.93 1.33 835 173 1.05

53.25 161 87.3 25 13 66.7 12.7 35.8 57.1 23.55 197 58.3 0.94 1.99 4.11 1.33 835 174 1.05

53.1 154.6 84.2 24.75 12.7 63 12.02 34.6 57.1 22.05 190.1 57.8 0.89 1.94 3.83 1.32 835 172.8 1.05

53.25 161 84.6 24.8 12.9 64.05 12.7 34.6 57.1 22.1 196.5 57.8 0.89 1.95 4.11 1.32 835 174 1.05

160 1586230 3836550 183800 292700 6655000 235500 582700 60 66300 905590 12510 215000 157000 184000 4000 70 1690 1000

8497.5 252794673 325308001 4560360 3756394 429259320.5 2987772 20,442,855( 3426 1517080 177628785 723601.5 196850 305950 714270 5290 58450 292452 1050

-532.5 101961220 -135075459 -1670155 1844534 -183841104 -2890068 1,331,855.0004) -5462542 -185563.5 101952 -

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE AXELUM CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH CONCRETE A CONCRETE B CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED LMG CHEMICALS PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

HOLDING & FRIMS

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

2.14 1.23 33 0.234 23.85 66.1 310 6 4.06 11.2 33.5 7.51 13.3 2.62 17.62 15.36 4.83 9.3 7.18 85.05 0.53 1.07 40 224 6.12 11.54 1.91 10.2 2.12 5.25 1.7 0.115 142.6 1.13 64.8 67 1.99 14.44 9.75 13.8 16.56 9.76 1 0.88 164 2.07 1.61 4.7 4.98 26.3 1.96 7.68 1.29 4.68 0.85 4

2.17 1.28 33.35 0.235 24 66.95 317.8 6.01 4.15 11.46 33.6 7.55 13.44 2.66 18.7 15.38 5 9.31 7.19 87.7 0.55 1.09 40.5 225 6.99 11.8 1.92 10.24 2.14 5.29 1.8 0.118 144 1.14 74.65 74.4 2 14.9 10 13.88 17.28 9.98 1.05 0.89 170 2.09 1.74 4.91 5.08 28.1 1.97 7.7 1.37 5 0.89 4.09

2.29 1.23 33 0.234 24.5 69.8 304.2 9.3 4.05 11.2 33.5 7.75 13.52 2.84 18.24 15.38 5.1 9.15 7.19 87.5 0.57 1.14 39.9 223.8 7.65 11.8 1.91 10.02 2.08 5.25 1.88 0.115 141.9 1.13 67.25 67.05 2.2 14.44 9.99 13.64 16.9 9.76 1 0.91 170 2.02 1.61 4.73 5 28.05 2 7.71 1.29 5.05 0.85 4.17

2.29 1.28 33.35 0.237 24.65 69.8 317.8 9.31 4.16 11.46 33.6 7.9 13.58 2.85 18.9 15.38 5.11 9.3 7.2 87.7 0.57 1.14 40 225 7.65 11.94 1.92 10.24 2.15 5.25 1.88 0.115 144.8 1.14 67.3 74.45 2.2 14.9 10 13.9 17.28 9.98 1.05 0.95 170 2.09 1.61 4.73 5 28.1 2.01 7.75 1.37 5.05 0.86 4.3

2.12 1.23 31.95 0.227 23.6 66 296.4 5.01 4.02 11.2 33.2 7.45 13.3 2.5 18 15.32 4.81 9.08 7.16 85 0.53 1.06 39.5 220 6.11 11.5 1.9 10.02 2.04 5.25 1.8 0.115 141.2 1.12 65 67 1.95 14.44 9.46 13.62 16.54 9.75 1 0.89 164 2.02 1.61 4.73 4.98 28.05 1.94 7.7 1.29 4.68 0.83 3.97

2.14 1.28 33 0.235 24 66.1 317.8 6 4.15 11.46 33.5 7.51 13.44 2.66 18.78 15.38 5 9.3 7.18 87.7 0.53 1.09 40 225 6.11 11.8 1.91 10.2 2.14 5.25 1.8 0.115 144 1.13 65 74.45 1.99 14.44 10 13.88 17.28 9.98 1.05 0.89 164 2.09 1.61 4.73 4.98 28.1 1.97 7.7 1.37 5 0.86 4.09

6814000 49000 2140100 1440000 1026500 57730 275710 113610700 1491000 70100 305400 417100 564100 4560000 23500 1829300 72200 3349400 2139100 129900 265000 21818000 802800 1157490 106600 119200 12113000 178700 3150000 7300 94000 150000 925790 1283000 1330 350 6080000 23200 381200 70700 458700 24500 80000 2454000 1190 18405000 2000 8000 89400 3100 2907000 157100 41000 120900 100000 204000

0.75 10.52 759.5 49.55 11.32 2.94 6.36 0.67 0.9 0.93 6.64 5.35 13 830 5.3 79.45 5 0.485 3.75 11.7 0.56 2.6 3.18 4.08 1.19 2.73 1.22 175 1050 153 0.74 203.6 0.211 0.192

0.76 11.28 760 50.65 11.34 2.95 6.8 0.69 0.93 0.97 6.7 5.41 13.26 845.5 5.4 79.7 5.42 0.495 3.77 11.72 0.58 2.99 3.19 4.35 1.28 2.98 1.25 189.5 1057 155 0.76 212 0.217 0.197

0.76 11.96 752 49.95 11.4 3.02 6.35 0.68 0.92 0.94 6.7 5.55 13.02 856 5.4 78.2 5.34 0.485 3.76 11.96 0.56 2.6 3.13 4.4 1.24 2.97 1.22 195.8 1073 155 0.75 204 0.213 0.193

0.76 11.98 760 50.65 11.44 3.08 6.72 0.73 0.93 0.94 6.7 5.55 13.26 869.5 5.4 80 5.42 0.5 3.76 12 0.58 2.6 3.2 4.4 1.3 2.98 1.22 195.8 1073 155 0.76 212 0.213 0.193

0.74 10.48 738 48.7 11.22 2.85 6.35 0.67 0.9 0.93 6.63 5.1 13.02 828 5.3 77.4 5.34 0.485 3.75 11.5 0.56 2.6 2.94 4.08 1.17 2.97 1.22 180 1045 152.3 0.75 203.6 0.21 0.192

0.75 11.28 760 50.65 11.32 2.94 6.72 0.67 0.93 0.93 6.7 5.41 13.26 830 5.4 79.7 5.42 0.5 3.75 11.72 0.58 2.6 3.19 4.08 1.28 2.98 1.22 180 1050 155 0.76 212 0.211 0.192

3139000 37500 738030 1448800 20444900 1407000 42500 828000 673000 480000 3152000 13574700 17700 89210 7172000 3258650 18600 2000 168000 4016800 4000 10000 99976000 62000 704000 9000 167000 2580 1374090 213700 82000 1330 2160000 210000

14777430 744680 60320 70187380 -5908325 333770 -42660 24558805 1900 3864351.5 -1544611 85842938 17336128 685,383,284( 399,867,804.0001) 6096360 564730 800682 10204075 3826395 3164238 7639560 4192245.9999 12172790 2657190 426088 28115092 535076 361746 -68937.9997 30800413 19309567 15328535 -3603359 11222193.5 -2610941 142750 23606670 346720 32111800 31620110 258689044 26480622 690027 12240 1389434 787430 23114320 900600 1824288 -372829.9997 6538120 38325 32550 171470 17250 132414643 -1111310 1443320 68100 88365 23710.5 12312090 2503500 335078 -44788 3751078 -83400 977994 -434254 7879696 555756.0002 240133 80400 2195950 -106200 195960 38275790 2562560 3220 37840 445614 111154 87105 -75870 5733410 -263430 1211867 362252 52970 34750 593929 84740 832200 62570 2339420 411266 551208015 72290910 231022064 4184030 270573 557770 618690 449120 21089045 71940061 234054 74809900 38728575 258104910 99614 985 631000 47051236 2260 26000 309348960 256710 863870 26780 203740 480301 1440690625 32792031 62190 277018 455850 40490

29600 -59458575 73865 75395674 -186570 449120 332850 -30937072 -17559190 -833220 -86628818.5 -236840 21286718 20156290 -640 8540 798944970 -2604989 -39768 -189900 -

PROPERTY ARTHALAND CORP 0.79 0.8 0.86 0.86 0.78 0.8 8205000 6628400 25610 45.75 45.8 46.4 47 45.25 45.75 17599500 805290570 -33318280 AYALA LAND 1.29 1.36 1.42 1.42 1.3 1.36 604000 806620 12360 ARANETA PROP 1.98 1.99 2.04 2.04 1.98 1.98 811000 1618470 -609989.9997 BELLE CORP 0.7 0.73 0.72 0.73 0.7 0.73 726000 509100 A BROWN CITYLAND DEVT 0.81 0.86 0.83 0.86 0.83 0.83 43000 35750 0.18 0.188 0.188 0.188 0.18 0.18 150000 27080 CROWN EQUITIES 6.36 6.45 6.34 6.46 6.34 6.46 23800 150943 CEBU HLDG 4.67 4.74 4.7 4.8 4.65 4.74 641000 3053040 70340 CEB LANDMASTERS CENTURY PROP 0.54 0.56 0.56 0.57 0.54 0.56 23592000 13164640 -8400 CYBER BAY 0.385 0.39 0.395 0.395 0.39 0.39 450000 175600 19.14 19.16 19.22 19.3 18.98 19.16 783400 15019020 -110812 DOUBLEDRAGON 9.9 9.98 10.2 10.2 9.98 9.98 41100 412190 DM WENCESLAO 0.415 0.425 0.415 0.425 0.415 0.425 160000 66500 EMPIRE EAST 1.48 1.49 1.48 1.5 1.46 1.48 13408000 19750430 -4908980 FILINVEST LAND 1.16 1.2 1.16 1.18 1.16 1.16 287000 333120 GLOBAL ESTATE 14.76 14.78 14.84 14.84 14.76 14.76 875200 12953916 -212904 8990 HLDG PHIL INFRADEV 1.24 1.26 1.28 1.28 1.23 1.27 965000 1202860 4.04 4.05 4.13 4.14 3.97 4.04 35305000 142071530 -20891570 MEGAWORLD MRC ALLIED 0.196 0.198 0.212 0.212 0.192 0.196 15900000 3189430 119399.9997 PHIL ESTATES 0.415 0.44 0.44 0.44 0.4 0.415 390000 160250 2.01 2.02 2.03 2.03 2.01 2.01 359000 721750 PRIMEX CORP 26.1 27 26.2 27 25.7 27 2076600 55182325 -3079160 ROBINSONS LAND 0.31 0.325 0.325 0.33 0.31 0.32 790000 255450 PHIL REALTY 2.11 2.12 2.12 2.12 2.11 2.11 25000 52950 ROCKWELL 3.16 3.2 3.25 3.25 3.15 3.2 26000 82650 -28800 SHANG PROP 2.34 2.4 2.4 2.4 2.34 2.4 149000 354060 STA LUCIA LAND 40.5 40.8 40.9 41.2 40.5 40.5 10598500 431706960 -36095830 SM PRIME HLDG VISTAMALLS 5.36 5.48 5.34 5.5 5.34 5.5 13800 74707 1.09 1.1 1.09 1.12 1.06 1.09 1112000 1210330 SUNTRUST HOME 7.29 7.39 7.41 7.41 7.29 7.29 3267400 23909380 -8230050 VISTA LAND

SERVICES ABS CBN 15.32 15.4 16.04 16.7 15.3 15.4 207300 3360960 5.24 5.25 5.25 5.27 5.23 5.24 65600 344239 GMA NETWORK 0.385 0.4 0.385 0.385 0.385 0.385 520000 200200 MANILA BULLETIN 1945 1980 1935 1980 1935 1980 30800 60611220 9714655 GLOBE TELECOM 985 994.5 990 997.5 981 994.5 97040 96043540 -3936110 PLDT APOLLO GLOBAL 0.042 0.043 0.042 0.042 0.042 0.042 4700000 197400 4.84 5.29 5.1 5.29 4.84 5.29 177200 889258 DFNN INC 0.096 0.097 0.098 0.098 0.097 0.097 2540000 247590 193040 ISLAND INFO ISM COMM 3.04 3.05 3.28 3.29 2.86 3.05 7731000 23542990 1042210 JACKSTONES 1.89 2.2 2.03 2.03 1.89 1.89 157000 311650 2.39 2.44 2.56 2.56 2.35 2.44 2441000 5989760 -90010 NOW CORP 0.275 0.28 0.275 0.275 0.27 0.275 1630000 443700 35250 TRANSPACIFIC BR 2.55 2.61 2.65 2.65 2.56 2.56 309000 797960 -28360 PHILWEB 9.5 9.8 9.62 9.89 9.5 9.5 17200 164786 -7900 2GO GROUP 18 18.5 18 18 18 18 20000 360000 360000 ASIAN TERMINALS 4.85 4.9 5 5.03 4.82 4.85 688100 3369702 211448 CHELSEA 91.2 93 89.55 93.4 89.5 91.2 92970 8496746 4689808.5 CEBU AIR INTL CONTAINER 133 135 125 135 124.2 135 4820100 636648435 139333611 LBC EXPRESS 12.76 13.5 13.5 13.5 13.5 13.5 100 1350 0.89 0.9 0.9 0.9 0.89 0.89 152000 136030 LORENZO SHIPPNG 17 17.06 16.96 17.06 16.92 17.06 136000 2316008 224866 MACROASIA METROALLIANCE A 0.92 0.99 0.98 0.99 0.98 0.99 21000 20590 7.3 7.4 7.98 7.98 7.3 7.4 35600 264088 51800 PAL HLDG 1.08 1.09 1.2 1.2 1.09 1.09 2573000 2883010 1253300 HARBOR STAR 1.45 1.5 1.5 1.5 1.5 1.5 1000 1500 ACESITE HOTEL 0.59 0.6 0.61 0.62 0.6 0.6 1263000 762440 WATERFRONT 6.9 7.05 6.9 6.9 6.9 6.9 2000 13800 CENTRO ESCOLAR 890.5 893.5 891 891 891 891 20 17820 FAR EASTERN U IPEOPLE 7.78 8.99 9 9 9 9 1200 10800 0.62 0.65 0.64 0.64 0.59 0.64 1679000 1049170 -75780 STI HLDG BERJAYA 4.08 4.1 4.1 4.12 4.05 4.08 2472000 10098570 -219200 BLOOMBERRY 10.58 10.7 10.6 10.9 10.54 10.7 2203300 23481808 -4036624 PACIFIC ONLINE 2.48 2.49 2.49 2.49 2.49 2.49 20000 49800 -49800 LEISURE AND RES 2.56 2.62 2.68 2.68 2.56 2.56 421000 1099720 197120 3.36 3.39 3.38 3.4 3.38 3.4 45000 152490 MANILA JOCKEY 0.57 0.59 0.59 0.59 0.57 0.57 1208000 695460 -342849.9997 PREMIUM LEISURE 11.42 11.48 11.48 11.48 11.4 11.48 2389400 27383472 -1299916 ALLHOME 2.12 2.14 2.22 2.23 2.12 2.14 309000 671660 204510 METRO RETAIL 39.5 40.2 38.7 40 38.7 39.5 1363300 53840760 -5051150 PUREGOLD ROBINSONS RTL 73 73.5 74.5 74.5 73 73.5 434370 31989710.5 -6700728 PHIL SEVEN CORP 135 145 131.3 149.9 130 135 682920 92196085 -11214 SSI GROUP 2.59 2.6 2.49 2.59 2.48 2.59 2167000 5527460 1906370 WILCON DEPOT 18.4 18.48 18.46 18.52 18.2 18.48 937600 17248754 657480 APC GROUP 0.4 0.41 0.42 0.42 0.38 0.405 4160000 1674150 -16350 EASYCALL 8 8.2 8 8.25 7.92 8 14900 118855 16000 418 436.6 418.2 436.6 418 436.6 1210 525098 GOLDEN BRIA 6 6.2 6.3 6.3 5.8 6.2 62600 385360 307120 IPM HLDG 0.335 0.35 0.365 0.365 0.335 0.35 6680000 2308850 -10950 PRMIERE HORIZON 8.78 8.88 8.88 8.88 8.78 8.88 27900 246242 SBS PHIL CORP

MINING & OIL ATOK 10 10.94 10.96 10.96 10.96 10.96 100 1096 0.95 0.96 0.98 0.98 0.95 0.96 280000 267940 -48000 APEX MINING 0.0015 0.0016 0.0015 0.0016 0.0015 0.0016 433000000 649600 ABRA MINING 2.41 2.48 2.45 2.45 2.41 2.41 65000 158770 ATLAS MINING 2.66 2.68 2.68 2.7 2.66 2.66 611000 1629500 CENTURY PEAK DIZON MINES 6.88 7.25 7.1 7.32 6.89 6.89 21600 151491 1.57 1.59 1.64 1.67 1.56 1.59 45530000 75225310 -567310 FERRONICKEL GEOGRACE 0.199 0.206 0.207 0.207 0.199 0.206 50000 10180 0.094 0.095 0.095 0.095 0.095 0.095 560000 53200 LEPANTO A 0.091 0.096 0.096 0.096 0.096 0.096 20000 1920 -1920 LEPANTO B MANILA MINING A 0.008 0.0083 0.0081 0.0081 0.008 0.008 33000000 265100 0.84 0.85 0.92 0.94 0.8 0.84 916000 788700 MARCVENTURES 0.95 1.01 1 1.02 0.95 0.95 644000 622360 196200 NIHAO 2.89 2.9 2.97 3.02 2.86 2.9 5272000 15323860 -4285540 NICKEL ASIA 0.415 0.42 0.435 0.435 0.42 0.42 560000 235750 OMICO CORP 0.73 0.75 0.74 0.75 0.74 0.74 179000 132830 ORNTL PENINSULA 2.81 2.88 2.94 2.95 2.84 2.84 692000 2012690 -1078130 PX MINING SEMIRARA MINING 21 21.15 21 21.65 20.95 21 915600 19307175 4157935 UNITED PARAGON 0.0053 0.0057 0.0054 0.0054 0.0054 0.0054 2000000 10800 6.48 6.55 7.21 7.29 6.46 6.48 450900 2995187 180314 ACE ENEXOR ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 256700000 2823700 0.011 0.012 0.011 0.011 0.011 0.011 1300900000 14309900 -7700 ORNTL PETROL B 0.01 0.011 0.01 0.011 0.01 0.011 15900000 174000 PHILODRILL 8.43 8.69 8.82 8.99 8.36 8.7 396000 3398717 -57643 PXP ENERGY

PREFFERED

AC PREF B1 500.5 501 501 501 501 501 770 385770 101.3 103.3 103.3 103.3 103.3 103.3 10 1033 ALCO PREF B 505 506 505 505 505 505 1190 600950 AC PREF B2R 100.4 101 100.4 101 100.2 101 4050 406258 DD PREF 997 998.5 997 997 997 997 350 348950 SMC FB PREF 2 FGEN PREF G 108.1 112.8 112.8 112.8 112.8 112.8 30 3384 500 508 500 500 497 497 200 99510 GLO PREF P 1 1.04 1 1.04 1 1.04 37000 37360 10360 LR PREF PNX PREF 3B 105.3 109 109 109 109 109 10 1090 1025 1030 1027 1031 1027 1031 3860 3976985 PNX PREF 4 1025 1052 1040 1058 1040 1058 2850 2990580 PCOR PREF 3A 1051 1055 1055 1060 1055 1055 2040 2152375 PCOR PREF 3B 76.1 78 75.75 78.9 75.05 78 8420 647540 SMC PREF 2C 75.1 76 75.1 75.1 75.1 75.1 1400 105140 SMC PREF 2D 74 76.5 75.95 75.95 75.95 75.95 5940 451143 SMC PREF 2E 75.35 76.9 76.8 77 75.35 75.35 88870 6709980 SMC PREF 2F 75.2 76 75.2 75.2 75.2 75.2 1330 100016 SMC PREF 2G SMC PREF 2H 74.1 76 75 75 75 75 10000 750000 74.1 77 76.75 76.75 76.75 76.75 49310 3784542.5 SMC PREF 2I PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

14 5.05

15 5.18

15.52 5.17

15.52 5.17

14.96 5.05

15 5.05

163900 10000

2495830 50548

WARRANTS LR WARRANT

1.2

SMALL & MEDIUM ENTERPRISES

PHILAB HLDG - 3.7 ITALPINAS 9.6 KEPWEALTH 2.5 MAKATI FINANCE 0.78 XURPAS

1.39

1.27

1.27

1.27

1.27

11000

13970

-

- 3.79 9.7 2.58 0.79

- 4.1 9.98 2.65 0.83

- 4.1 9.99 2.65 0.83

- 3.68 9.51 2.39 0.79

- 3.79 9.6 2.58 0.79

- 412000 255900 137000 3175000

- 1573710 2477479 331080 2548300

230400 439000

EXHANGE TRADE FUNDS FIRST METRO ETF

115

-161362 -

115.9

115.8

115.9

114.6

115.9

13200

1521155

79841

www.businessmirror.com.ph

Banker, property developer abort backdoor listing plan

B

By VG Cabuag

@villygc

anker George T. Chua and Manila Bay Development Corp.

(MBDC) have decided not to push through with a plan for a backdoor listing through a property-for-share swap agreement with listed firm Supercity Realty Development Corp.

“In a letter received by the corporation [Supercity] on December 16, 2019, MBDC and Mr. Chua communicated to the corporation that due to unfavorable market conditions, they have decided not to proceed with the property-for-share swap agreement.

Thus, the backdoor listing will no longer push through,” the company

said in its disclosure.

“SRDC shall continue to serve institutional or corporate clients and focus on the construction of horizontal residential house and land development works for residential subdivisions,” it added.

Supercity was supposed to issue some 900 million worth of new

common shares to MBDC and Chua, currently a board of director of midsized Asia United Bank.

Chua and MBDC, in exchange, will contribute a total of 12 parcels of land located in Parañaque City with a total area of 227,075 square meters.

The aggregate value of the said common shares would be at least P1.38 billion, Supercity said.

The said transaction would have allowed Supercity to acquire premium real estate located along Roxas Boulevard, within the Reclamation Area of the Bay City, previously known as Boulevard 2000.

This could be a source of recurring rental income or future income from development projects, such as resort hotels, tourist-related attractions with dining and entertainment, commercial areas with a sprinkling of upscale residential and serviced residential apartments and office buildings, it said.

“The sites’ proximity to entertainment and gambling clusters in the Manila Bay area would be an advantage. The concentration of hotels and cultural entertainment activities in the area would create a major attraction for locals and tourists alike,” it said. Supercity’s basic objectives are to provide a full range of construction services to real-estate developers, and to provide them with technical assistance during the pre- and postconstruction stages of their projects.

It is usually engaged as a general contractor for land development and housing projects.

It has positioned itself to serve institutional or corporate clients rather than individual homebuyers in order to leverage on economies of scale for its construction projects. For the year 2019, Supercity has outstanding contracts for the development of Terraverde Residences in Carmona, Cavite, amounting to P61.37 million.

Bloomberry bags entrepreneurship award

R

azon-controlled Bloomberry Resorts Corp., the operator of Solaire Resort and Casino, said it received an award for hospitality, food service and tourism industry during the Asia Pacific Entrepreneurship Awards 2019 presentation ceremony held at the Shangri-La at the Fort in Taguig.

The said award is a regional recognition program for entrepreneurial and organizational excellence across Asia.

The awards for corporate excellence recognize organizations that showcase achievements in their respective industries in terms of growth, leadership and operational excellence, all while engaging in meaningful corporate social responsibility programs.

The award-giving body, Enterprise Asia, is a nongovernment organization that advocates entrepreneurship development across the Asia-Pacific region.

Solaire Resort is a $1.2-billion integrated resort and the first to open in Entertainment City in Parañaque.

Bloomberry reported last month that its profits in January to September grew 33 percent to P8.56 billion, from last year’s P6.44 billion, helped by the recovery in the third quarter.

Gross gaming revenues grew 21 percent to P45.84 billion, from P38.03 billion, mostly contributed

by Solaire.

Total gaming revenues at Solaire for the July to September quarter stood at P17.11 billion, a record quarterly high, driven by strength in all gaming segments.

Solaire’s VIP volumes were P198.65 billion, a decline of 5 percent year-on-year.

VIP revenues doubled to P8.645 billion as the hold rate increased to 4.35 percent in the third quarter from 1.91 percent in the same period last year. VIP revenues were higher by 40 percent sequentially. VG Cabuag

Unilever stock slumps after weak demand hits sales and growth

U

nilever slumped after Chief Executive Officer Alan Jope backed away from his predecessor’s growth targets as consumers around the world jilt mainstream brands.

The maker of Ben & Jerry’s ice cream and Dove soap said sales gains will be slightly below guidance for 2019 and in the lower half of its multiyear range of 3 percent to 5 percent in 2020.

The stock fell as much as 6.6 percent in Amsterdam on Tuesday, the steepest intraday decline in almost three years. Analysts at RBC Europe said the new outlook implies fourthquarter growth will be the AngloDutch company’s weakest for more than a decade.

Like other mainstream consumer-goods companies, Unilever has struggled to keep up with shoppers turning to niche and more local alternatives, as well as retailers’ ownbrand products. In the third quarter, the company cited disappointing sales of ice cream in Europe and black tea across the developing world as growth missed estimates. In its latest update, the company cited weakness in South Asia, West Africa and North America.

The slowdown follows a changing of the guard, with Jope succeeding Paul Polman at the start of the year

and Chairman Marijn Dekkers announcing last month that he was stepping down to make way for Danish businessman Nils Andersen.

The cut to the forecast undermines Jope’s earlier decision to maintain his predecessor’s outlook.

It also clouds his ambition to prove that companies that emphasize social purposes can outperform rivals that don’t.

Outlook change

The company had previously said that 2019 sales would be in the lower half of the multiyear range. Unilever said the change to the outlook won’t affect profitability.

“Growth remains our top priority and we are confident we have the right strategy and investment in place to step up our performance,” Jope said in a statement.

India and West Africa contributed the most to the slowdown, Unilever executives said on a call. The Indian market, the company’s second-biggest after the United States, should start to recover in the second half of 2020, it said. Slowing consumption in India, home to more than 1.3 billion people, is weighing down makers of everything from shampoos to cars as the third-largest Asian economy expands at the slowest pace in six years. Bloomberg News

mutual funds

December 17, 2019

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 248.48 -2.03% 1.18% -0.91% -1.48% ATRAM Alpha Opportunity Fund, Inc. -a 1.3879 -1.67% 1.18% -3.28% -3.67% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.6475 -7.1% -1.74% -3.39% -6.55% Climbs Share Capital Equity Investment Fund Corp. -a 0.8838 -1.45% n.a. n.a.

-1.91% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8392 1.32% n.a. n.a.

2.25% First Metro Save and Learn Equity Fund,Inc. -a 5.2521 -0.56% 2.08% -0.99% -0.4% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8424 0.37% -1.77% n.a.

0.68% MBG Equity Investment Fund, Inc. -a 103.34 -10.17% n.a. n.a. -11.04% PAMI Equity Index Fund, Inc. -a 50.5799 1.95% 3.52% n.a.

2.76% Philam Strategic Growth Fund, Inc. -a 526.16 1.54% 2.19% -0.42% 2.22% Philequity Alpha One Fund, Inc. -a,d,8 0.9977 n.a. n.a. n.a. n.a.

Philequity Dividend Yield Fund, Inc. -a 1.2711 0.42% 2.75% 0.4% 1.36% Philequity Fund, Inc. -a 37.4431 1.46% 3.73% 0.39% 2.21% Philequity MSCI Philippine Index Fund, Inc. -a,1 1.004 n.a. n.a. n.a. n.a.

4.3% Philequity PSE Index Fund Inc. -a 5.1508 3.04% 1.53% 3.87% Philippine Stock Index Fund Corp. -a 859.44 2.94% 4.18% 1.46% 3.74% Soldivo Strategic Growth Fund, Inc. -a 0.8458 -2.34% 1.2% n.a.

-1.65% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.1559 1.57% 3.38% 0.53% 2.39% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9866 2.58% 3.98% n.a.

3.38% United Fund, Inc. -a 3.6143 2.42% 5.33% 2.23% 3.24% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 115.2293 3.26% 4.91% 2.44% 4.05% ATRAM AsiaPlus Equity Fund, Inc. -b $1.0095 6.41% 5.64% 0.8% 8.65% 14.86% 8.92% n.a. 22.36% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3523 Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5555 -6.26% -2.25% -4.07% -5.8% ATRAM Philippine Balanced Fund, Inc. -a 2.1779 -1.5% -0.48% -1.39% -1.42% First Metro Save and Learn Balanced Fund Inc. -a 2.6078 2.81% 2.51% -1.25% 2.54% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2276 n.a. n.a. n.a. n.a.

Grepalife Balanced Fund Corporation -a 1.329 1.45% n.a. n.a.

1.89% NCM Mutual Fund of the Phils., Inc. -a 1.9518 5.65% 3.12% 1.06% 5.9% 6.5% PAMI Horizon Fund, Inc. -a 3.7586 6% 2.33% 0.19% Philam Fund, Inc. -a 16.8363 5.48% 2.21% 0.12% 5.84% Solidaritas Fund, Inc. -a 2.1073 1.45% 1.94% 0.8% 1.84% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8227 4.16% 3.15% 0.45% 4.69% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 1.0063 n.a. n.a. n.a. n.a.

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 0.9842 n.a. n.a. n.a. n.a.

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.981 n.a. n.a. n.a. n.a.

Sun Life Prosperity Dynamic Fund, Inc. -a 0.964 4.04% 2.41% -0.52% 4.59% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03821 8.86% 3.07% 2.01% 8.24% PAMI Asia Balanced Fund, Inc. -a $1.0236 8.13% 4.5% 1.11% 12.03% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.8573 11.74% 7.13% 4.22% 16.58% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1194 9.06% 4.27% n.a. 11.38% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 357.2 4.15% 2.8% 2.28% 4% ATRAM Corporate Bond Fund, Inc. -a 1.9 2.31% 0.17% -0.61% 2.19% Cocolife Fixed Income Fund, Inc. -a 3.1098 4.9% 5.16% 5.19% 4.49% Ekklesia Mutual Fund Inc. -a 2.2229 4.41% 2.52% 1.89% 4.4% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3581 6.84% 2.27% 1.57% 6.94% Grepalife Fixed Income Fund Corp. -a P 1.6068 2.83% 1.17% -0.3% 2.71% Philam Bond Fund, Inc. -a 4.3704 11.62% 2.86% 1.62% 11.5% Philequity Peso Bond Fund, Inc. -a 3.7638 7.75% 2.79% 1.35% 7.01% Soldivo Bond Fund, Inc. -a 0.9631 8.03% 1.59% n.a.

8.07% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0659 10.97% 4.79% 2.48% 10.85% Sun Life Prosperity GS Fund, Inc. -a 1.7 10.55% 4.54% 2.01% 10.4% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $467.87 4.49% 2.76% 2.8% 4.34% ALFM Euro Bond Fund, Inc. -a Є219.8 3.45% 1.7% 1.34% 3.35% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2047 7.15% 3.09% 2.56% 7.02% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 3.61% 1.46% 1.29% 4.03% Grepalife Dollar Bond Fund Corp. -a $1.7089 1.16% 0.04% 0.13% 1.11% PAMI Global Bond Fund, Inc -a $1.0948 6.35% 1.45% -0.88% 5.65% Philam Dollar Bond Fund, Inc. -a $2.4029 11.14% 3.77% 3.02% 10.69% Philequity Dollar Income Fund Inc. -a $0.0603298 5.9% 2.32% 1.98% 5.84% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1817 10.83% 3.25% 2.76% 10.78% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 125.65 4.15% 2.84% 2.16% 3.95% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.0303 n.a. n.a. n.a. n.a.

Philam Managed Income Fund, Inc. -a 1.2555 6.4% 2.92% 1.7% 6.23% Sun Life Prosperity Money Market Fund, Inc. -a 1.2631 3.79% 2.87% 2.32% 3.6% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0366 2.11% n.a. n.a.

2.04% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $0.99 n.a. n.a. n.a. n.a. a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is January 3, 2019. 2 - Launch date is January 28, 2019. 3 - Launch date is February 1, 2019. 4 - Launch date is November 15, 2019.

5 - Launch date is September 28, 2019. 6 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.).

7 - Adjusted due to stock dividend issuance last October 9, 2019. 8 - Launch date is December 09, 2019.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa. com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph • Editor: Angel R. Calso

Oil holds above $60 as easing US-China tension aids outlook

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il held gains above $60 a bar rel on optimism that cooling trade tensions between the US and China will spur demand and as analysts forecast a decline in American crude inventories.

Futures in New York were steady after rising 2.5 percent over the previous three sessions. A limited trade agreement, to be signed and released early next month, will see some tariffs reduced and prevent an escalation in the conflict between the world’s two largest economies. US stockpiles are projected to have declined by 1.75 million barrels last week, a Bloomberg survey showed.

While it left most of the tariffs built up over the trade war in place, the partial deal has relieved investors worried about further escalation and driven gains across the commodity complex. It follows deeper-than-expected output cuts from Opec+ earlier in the month— which Citigroup Inc. said will help keep a floor under prices—setting crude up for a strong end to the year.

Oil is near the top of its twomonth range after Friday’s trade announcement created a more bullish global growth environment, said Jeffrey Halley, a senior market analyst at Oanda in Singapore. Crude will likely “grind higher” into year-end due to the backwardation of the futures curve, he said.

West Texas Intermediate (WTI) for January delivery declined 5 cents to $60.16 a barrel on the New York Mercantile Exchange as of 11:34 a.m. in Singapore. It rose 0.2 percent on Monday, and is up around 9 percent so far in December.

Brent for February settlement fell 4 cents to $65.30 on the London-based ICE Futures Europe Exchange after climbing 0.2 percent on Monday. The global benchmark crude traded at a $5.22 a barrel premium to WTI for the same month.

If the Bloomberg survey is confirmed by Energy Information Administration data due on Wednesday, it would be only the third weekly decline in inventories this quarter and would help to reduce concern over ample supply.

However, the EIA said on Monday that it expected American shale production to rise by 30,000 barrels a day to around 9.14 million in January. Bloomberg News

The World BusinessMirror

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China, Russia urge UN Security Council to terminate key North Korea sanctions

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nited Nations—China and Russia are calling on the UN Security Council to terminate sanctions on key North Korean exports, such as coal, iron, iron ore and textiles, “with the intent of enhancing the livelihood of the civilian population.”

A draft resolution circulated to council members on Monday by the two allies of North Korean Leader Kim Jong Un would also lift a ban on North Koreans working overseas, and terminate a decision to repatriate all those earning income abroad by December 22.

The council expressed concern when the repatriation provision was adopted two years ago that earnings from the nearly 100,000 overseas North Koreans, according to a US estimate, are being used to support the North’s nuclear and ballistic missile programs.

China and Russia made these and other proposals 16 days before Kim’s end-of-December deadline for the United States to come up with new proposals to revive nuclear diplomacy.

At Kim’s second summit with US President Donald J. Trump last February, negotiations faltered after the US rejected North Korean demands for broad sanctions relief

in exchange for a partial surrender of the North’s nuclear capabilities.

North Korea has carried out 13 ballistic missile launches since May seeking to pressure Washington, and it has hinted at lifting its moratorium on nuclear and longrange missile tests if the Trump administration fails to make substantial concessions before the New Year.

The proposed resolution, obtained by The Associated Press, welcomes the continuing dialogue between the United States and North Korea, and calls on all parties to consider implementing “further practical steps to reduce military tension on the Korean peninsula and probability of any military confrontation by all appropriate means.” Its suggestions include adoption of a formal declaration and/or peace treaty ending the 1950-1953 Korean War. The draft resolution also calls for “prompt resumption of the

Visitors watch a photo showing North Korea’s missile launch at the Unification Observation Post in Paju, South Korea, near the border with North Korea on Friday. North Korea accused the United States of “hostile provocation” on Thursday for criticizing its ballistic missile tests during a UN Security Council meeting, and warned that the Trump administration may have blown its chance to salvage nuclear negotiations. AP/Ahn Young-joon

six-party talks or relaunch of multilateral consultations in any other similar format, with the goal of facilitating a peaceful and comprehensive solution through dialogue.”

The six-party talks involving North Korea, South Korea, the US, China, Russia and Japan began in 2003, and led Pyongyang to accept a deal in September 2005 to end its nuclear weapons program in exchange for security, economic and energy benefits. But after difficult negotiations, North Korea refused to accept US-proposed verification methods, and the agreement fell through in December 2008. The six-party talks have been stalled

Money talks: HK protesters weaponizing spending power

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O N G KO N G —T h e H o n g K o n g protesters formed a line, patiently waiting their turn to buy sweet milk and tea drinks from a store that advertised ardent support for their cause with a banner declaring, “If you set off a nuclear blast, we’ll stick by you.”

For quicker service, they could have quenched their thirsts at an adjacent store that also sells bubble tea. It had no customers.

Which is exactly as the protesters intended.

Digging in for the long haul against Hong Kong’s government, protesters are expanding their struggle from the streets to their wallets, weaponizing their spending power to punish businesses they deem hostile to their cause. The aim: to

drive some firms under in the deepening recession gripping the crisis-hit city.

Guiding the consumer choices of techsavvy protesters are apps that increasingly are color-coding businesses—everything from dentistry clinics and toy stores to dumpling restaurants and sex shops—into two categories: yellow for protest-friendly, blue for suspected opponents.

“Blue! blue!” protesters yelled outside the bubble tea shop they shunned during a rally this month that marked the half-year milestone for their movement.

The protests started in June to voice opposition to now-withdrawn extradition legislation and have morphed into what demonstrators say is a full-blown fight to safeguard Hong Kong’s freedoms, unique among China’s cities. Months of clashes

with riot police who have fired 26,000 tear gas and rubber baton rounds, and arrested more than 6,100 people are radicalizing legions of youths, upending the city’s economy, and splitting families, work colleagues, friends and citizens into two entrenched camps.

Even employees of the supposedly “blue” bubble tea store, wearing face masks like many of the demonstrators, advised them not to shop there, saying the company wasn’t sympathetic to the protest movement.

“It stands for the police,” protester Natasha Chan said, clutching a grapefruit and lemon tea purchased instead from the “yellow” Happy Holidays drinks store next door. “We chose not to shop from the blue side.” AP

US rejects relief for N. Korea as Trump warns against tests he US knocked back a call to ease sanctions on North Korea despite threats of further provocations, as President Donald J. Trump said he would “take care of ” any threats the regime had in the works.

The American side was responding to a UN Security Council proposal by China and Russia to lessen the economic embargo on North Korea. The countries— Cold War allies of North Korea who have recently repaired ties with leader Kim Jong Un—said the changes were warranted because the regime had complied with United Nations resolutions and needed “humanitarian and livelihood” relief, according to a draft provided by diplomats who asked not to be named.

The US rejected the proposal, saying it was premature to ease sanctions while North Korea advances weapons prohibited by systems and threatens escalation, according to a state

Wednesday, December 18, 2019

department official who asked not be named. The US remained committed to achieving North Korea’s “complete denuclearization” through negotiations, the official said.

The Chinese-Russian resolution, which may prompt further Security Council discussions on Tuesday, came after Trump’s top envoy to North Korea countered Kim’s threat of a “Christmas” provocation by urging renewed talks and to usher in a “season of peace.” Trump later warned the regime against any weapons tests or other actions in the coming days.

“We’re watching it,” Trump told reporters on Monday at the White House. “We’ll see. I’d be disappointed if something would be in the works. And if it is, we’ll take care of it.”

Rising tensions

Tensions have slowly risen on the Korean Peninsula as time runs out on Kim’s threat

to take a “new path” if Trump doesn’t make him a better offer in nuclear talks. North Korea has fired off a record number of short-range ballistic missile in recent months, and has threatened to withdraw Kim’s two-year-old freeze on tests of nuclear weapons and longerrange rockets needed to carry them to the US mainland.

Last week, the US’s Ambassador to UN Kelly Craft, warned of “deeply troubling indications” that North Korea was poised for a major provocation, such as launching “space vehicles using long-range ballistic missile technology,” or even test-launching an intercontinental ballistic missiles “which are designed to attack the continental United States.”

On Saturday, North Korea said it had conducted a second “crucial test” to boost its nuclear-deterrent capabilities. Such tests have put further pressure on the US to try to break the deadlock in negotiations be-

tween the two countries after working-level talks collapsed in October in Stockholm.

The two sides have reached no agreements since committing to “work toward complete denuclearization of the Korean Peninsula” during an unprecedented face-toface meeting between Trump and Kim in June 2018. The US has so far refused to lift sanctions without a stronger pledge from North Korea to eliminate its nuclear weapon capabilities.

The US’s North Korea envoy, Stephen Biegun, urged Kim to return to talks during a visit to Seoul, which was viewed as the administration’s last chance to dial back tensions. Biegun also met with Moon and Unification Minister Kim Yeon-chol and was expected to head to Tokyo later in the week.

“It is time for us to do our jobs.

Let’s get this done,” Biegun said in a direct message to North Korea. “We are here, and you know how to reach us.” Bloomberg News

since then.

The China-Russia draft resolution reiterates “that all parties should commit to work toward complete denuclearization of the Korean peninsula.” It would call on the nuclear weapon states— the US, Russia, China, Britain and France—that are parties to the Nuclear Nonproliferation Treaty to work with North Korea on “the process of practical denuclearization of the Korean peninsula.”

It welcomes further development of relations between the two Koreas, in particular on rail and road connections, and would exempt the inter-Korean rail and road projects from sanctions.

The proposed resolution would terminate specific provisions in council resolutions adopted in 2016 and 2017 that banned the sale or import of coal, iron and iron ore, textiles and “statues.”

Then-US Ambassador Nikki Haley said in December 2017 that those sanctions would ban over 90 percent of North Korea’s exports reported in 2016.

The draft resolution would also lift a ban on North Korea’s import of some industrial machinery and transport vehicles used for infrastructure construction that can’t be diverted to the country’s nuclear and ballistic missile programs.

It also would ask the Security Council committee monitoring sanctions on North Korea to adopt “the most favorable approach toward requests for exemption from existing UN sanctions...for humanitar ian and livelihood purposes.”

The Chinese and Russians produced a long list of construction and humanitarian items, ranging from railway or tramway materials, iron or steel parts for roofs and windows, screws and bolts, bulldozers, traffic control equipment, vehicles under 20 tons and firefighting vehicles to sewing needles, radiators for central heating, kitchen articles, air conditioning, dish washers, micro-computers, vacuum cleaners, shovels, axes, agricultural equipment and fire extinguishers. AP

Germany looks outside EU for nurses, professionals

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ERLIN—Chancellor Angela M e r k e l ’s g o v e r n m e n t h a s h e d out strategies on Monday with German business and union officials o n at t ra c t i n g s ki l l e d wo r ke r s f ro m outside the European Union, as the countr y tries to tackle a shor tfall of qualified professionals.

Merkel told reporters the first two pillars of her government’s approach to the problem would be providing more training for Germans, and working to attrac t professionals from other EU countries.

But recognizing those steps will not be sufficient, Germany needs to recruit workers from outside the trade bloc, she said. To do that, Germany needs to make it easier for skilled workers to get visas to quickly start new jobs, and ensure the country is seen as an attractive place to resettle.

“It’s not only us who are looking at the world’s professionals,” she said.

“There is great competition in this area.”

Legislation due to take effect on March 1 will make it easier for non-EU nationals to get visas to work and seek jobs in Germany. Arrangements currently applied to universit y graduates are being expanded to immigrants with professional qualifications and German language knowledge.

Sectors, such as information technology and nursing, have complained of labor shortages.

“Many companies in Germany are urgently seeking skilled workers, even in times of a weaker economy,” Eric Schweitzer, president of the Association of German Chambers of Commerce and Industr y, told the Funke newspaper group ahead of the meetings. “For more than half of companies, the shortage of skilled workers is currently the biggest risk to business.”

I n g o K r a m e r, t h e h e a d o f t h e Confederation of German Employers’ Associations, noted that some 430,000 migrants who came as asylum seekers since 2015 are now in jobs, so that it

wouldn’t be unreasonable to expect at least 100,000 positions per year could be filled by actively seeking educated professionals from outside.

“The process has to go quickly, so that it is not long and bureaucratic,” he said.

He added that it was also clear that if Germany wants those workers to remain, “it is important that they feel at home here.”

According to proposals that came out of Monday’s meeting, the government hopes to increase use of its “Make it in Germany” information portal for skilled workers, which includes a hotline and jobs board. The plan also c alls for companies offering more jobs targeted at foreign workers.

Economy Minister Peter Altmaier s a i d t h e g ove r n m e nt a n d b u s i n e s s groups had also agreed to set up pilot p ro j e c t s w i t h s o m e co u nt r i e s, l i ke India, Brazil and Vietnam, to hone the new approach.

Foreign Minister Heiko Maas promised to increase his office’s capacity to process visas and to digitize the process.

“The German government is showing today that it is serious about eliminating the shortage of skilled workers,” Maas said in a statement.

Like many other European countries, Germany is trying to strike a balance between the needs of its labor market, an aging native population and concern about immigration.

The far-right Alternative for Germany party has made gains in recent years with an anti-immigrant platform. The party’s co-parliamentary leader, Alice Weidel, spoke against the new labor policies, saying the focus should instead be on preventing qualified professionals from leaving Germany.

“The planned recruitment of skilled workers from abroad will fur ther exacerbate the problem of immigration and the social systems,” Weidel said.

“In the end, it will turn out that when we call for specialists, we get welfare recipients.” AP

B4 Wednesday, December 18, 2019

Dance, Eat and Glow Up to welcome 2020 at Sheraton Manila

Hyundai opens Cainta CV dealership with 1,200-unit orders from transport coops

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TB Cainta opened its doors to a target clientele of national and local government officials, local businesses, and close to 20 major transport groups. The groups showed their strong support for the government’s Public Utility Vehicle Modernization Program (PUVMP) by signing their intent to order 1,200 Hyundai H-100 Modern Jeepneys Class 1, Hyundai HD50S Modern Jeepneys Class 2, and the Hyundai Modern Jeepneys Class 3.

The Class 2 Modern Jeepney is built on Hyundai’s HD50S platform and is powered by a 2.9-liter Euro 4-compliant CRDi engine that provides better fuel efficiency, reliability, and cleaner emissions. It is designed for enhanced stability and power-to-weight ratio, boasting a 3,415-millimeter wheelbase.

It can accommodate 22 seated passengers as well as up to ten standing commuters.

The Class 1 Modern Jeepney is engineered to comfortably seat 12 passengers and the driver. Loading cargo puts less stress on the vehicle, translating to increased fuel economy as well as a steadier drive. Powered by a 2.5L CRDi diesel engine mated to a 6-speed manual transmission, it is packed with enough power (maximum output of 130ps) and torque (26 kg-m at 1,500 rpm) to efficiently move people and cargo on a daily basis. The engine also complies with Euro 4 emissions standards.

Both vehicles feature roof-mounted air conditioning, AFCS for convenient payment, Wi-Fi, GPS tracking, CCTV cameras, and speed limiters.

Hyundai’s Modern Jeepneys Class 1 and Class 2 have received the Department of Transportation (DOTr) Certificate of Compliance (COC) signifying their readiness

for deployment across the country.

Gracing the inauguration was Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo. In his keynote address, he emphasized the DTI’s role in driving business and cited the country as an ideal market for commercial vehicles.

The DTI Undersecretary underscored the importance of local transport groups in supporting locally manufactured vehicles as this would not only provide commuters a “modern, safer and convenient” ride, but also help generate more jobs and boost the local manufacturing sector’s overall competitiveness.

Cainta is counted among the Philippines’ wealthiest municipalities and ranked by the Cities and Municipalities Competitiveness Index (CMCI) as “Most Competitive” of first and second class municipalities in 2016 and 2017 and first in “economic dynamism” in 2018.

At the grand launch were, from left: HTB-Cainta General Manager Jonathan Qua, Cainta Municipal Administrator Angel Talaga, LICA Auto Group COO Doroteo Sornet, Shaw Automotive Resources, Inc. VP for Operations Nanette Alonzo, Hyundai Asia Resources, Inc. (HARI) President & CEO Ma. Fe PerezAgudo, DTI Undersecretary Ceferino Rodolfo, HARI Chairman Edward S. Go, and HMC CV Europe & Asia Pacific Team Leader Man Yong Han.

Duty Free Philippines unveils new “chocolate haven”

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UTY Free Philippines Corporation (DFPC) has unveiled its new design-forward “chocolate haven” at its flagship store in Parañaque City - the Duty Free Philippines Fiestamall.

The newly-opened section, which expands 1,100 square meters, offers a vast range of delicious treats directly imported from Europe, the United States, and Australia.

According to DFPC Chief Operating Officer Vicente Pelagio A. Angala, the said section boasts about 100 chocolate and snack brands including premium assortments of Godiva, Valrhona, Lindt, Guylian, and Goldkenn.

“Overseas Filipino Workers (OFWs) and balikbayans returning home for the holidays can now enjoy a more joyful and convenient holiday shopping

by providing the best gift that they could give their families,” said DFPC Chief Operating Officer Vicente Angala.

“We also made sure that shoppers will feel the unique Paskong Pinoy ambiance by opening doors to amazing activities to bring happiness and cheer to our shoppers,” he added.

Astounding Christmas décor will wow visitors such as the outdoor giant holiday gift boxes and will be serenaded with Christmas carols by the Duty Free Rondalla.

While extended hours will be implemented to help last-minute shoppers finish up their Christmas lists. Duty Free Fiestamall is open until midnight every Friday and the rest of the weekend until December 29, 2019.

NOVEMBER 27 IS FE DEL MUNDO DAY. Currently under the management of Mount Grace Hospitals, Inc., the Fe Del Mundo Medical Center (FDMMC) was known as the Children’s Medical Center when it was established in 1957 with a 107-bed capacity and an array of services for pediatric patients.

It is named after the Filipino pediatrician, Fe del Mundo, fondly called “The Mother of Philippine Pediatrics,” who passed away at age 99 in 2011.

Acknowledged as a humanitarian and award-winning inventor, she pioneered treatment for children with jaundice, creating a series of studies and inventions that led to jaundice-relieving devices and improved incubators. Under Mount Grace management, the FDMMC upgraded its facilities from 2015 to 2017 to become a complete medical facility with equipment for all medical needs. In recognition of its role in the community, the Quezon City government officially adopted November 27 as Fe Del Mundo Day this year, coinciding with the 108th birth anniversary of its founder.

FDMMC is set to continuously improve and expand its services to achieve its goal of giving the patients quality and affordable medical services and live the legacy of caring by the esteemed doctor. The Quezon City government is led by District 4 Representative Jesus "Bong" Suntay (6th from left).

With him is the management team of FDMMC.

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HIS year, Sheraton Manila is ringing in the New Year with a celebration entitled, “Glow Up! A New Year’s Eve Countdown Party.” This neon-themed New Year’s Eve party, to be staged in their Sheraton Ballroom, will be a night of lustrous lights, upbeat music and sumptuous spread.

Tickets are sold for Php 2,388 only which includes a bunch of good stuff from tapas buffet, two drinks (alcoholic or non-alcoholic), and lots of party favors. They also partnered with Moet et Chandon for the special sparkling wine toast when the clock hits 12.

Plus, serving world-class entertainment are Buganda Dancers for an enthralling lights performance and Joaquin Garcia and JV Decena for stellar song numbers. The party starts at 9pm ‘til we welcome 2020!

Since it’s also the last day of the year, have all the excuse to indulge before partying the night away! For Php 3,988, get to enjoy a festive buffet in their S Kitchen all-day dining restaurant and access the Glow Up party afterwards.

Say hello to a new year right and bright at Sheraton Manila! Nothing fancy, but pure fun and flavorful made for anyone of all ages.

For reservations or inquiries, kindly call +63 2 79021800 or visit their social media pages @ sheratonmanila on Facebook, Instagram and Twitter.

C.T.P. CONSTRUCTION AND MINING CORPORATION (CTPCMC) was awarded two Platinum Achievement Awards from the Presidential Mineral Industry Environmental Award Selection Committee for their surface mining operations in Carrascal, Surigao del Sur. The triple – ISO certified, privately-owned Filipino company was awarded for their dedicated pursuit of environmental protection, meaningful community development, and laudable safety and health management projects during the 66th Annual National Mine Safety and Environment Conference (ANSMEC). CTPCMC’s emergency response and fire brigade teams were also given recognition during the four-day event held in Camp John Hay, Baguio. At awarding rites, from left: Mines and Geosciences Bureau Director Atty. Wilfredo G. Moncano, CTPCMC Engr. Charlo R. Basadre, CTPCMC President and CEO Clarence J. Pimentel Jr., Environmental Protection and Enhancement Officer Yones A. Lumba, Engr. Henry Naputlag, CTPCMC Mine and Philippine Mining & Exploration Association President Joey Ayson.

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

Sports BusinessMirror

SEB COE: I WILL NOT IMPERIL CAREER OF CLEAN ATHLETES

THE Russian Athletics Federation is currently suspended after a number of officials were charged with falsifying whereabouts information related to high jumper Danil Lysenko as World Athletics President Sebastian Coe says Russian athletes could not compete at Tokyo 2020, unless they are absolutely clean.

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ORLD Athletics President Sebastian Coe has said Russian track and field athletes will not be admitted to compete at next year’s Olympic Games in Tokyo, unless he is “absolutely comfortable“ they are clean.

Coe told the Press Association he is “not going to risk or imperil the careers of clean athletes.“ Last week, Acting Russian Athletics Federation (RusAF) President Yulia Tarasenko claimed it is still possible for athletes from the country to be cleared to compete as neutrals at Tokyo 2020, despite the suspension of the national governing body’s reinstatement process.

Tarasenko, who replaced Dmitry Shlyakhtin after he was among the RusAF officials charged with obstructing a doping investigation, revealed she was expecting Russian athletes to be given the opportunity to participate.

World Athletics froze the reinstatement process for RusAF and warned it would consider expelling the organization, following the “serious anti-doping breaches“ alleged by the Athletics Integrity Unit (AIU).

It also agreed that the current system of allowing Russian athletes to compete as Authorised Neutral Athletes (ANAs) should be put on hold.

Russia has since been handed a four-year ban by the World Anti-Doping Agency (Wada), after an investigation found data from the Moscow Laboratory had been tampered with before it was handed over to the global watchdog.

The sanctions from Wada mean Russia’s flag will be banned from major events, including Tokyo 2020, while the country is also set to be stripped of World Championships it has been awarded. Wada ruled that Russian athletes who can prove they had no involvement in the doping scandal or the cover-up will be able to compete—a condition Tarasenko claims should apply to track and field competitors.

Although Coe would not speculate about whether any Russian track and field athlete would compete at Tokyo 2020, he told the Press Association: “Authorized neutral status has been suspended until we are able to have a federation which is able to endorse that. “My instinct is until we are absolutely comfortable that we have the continuation of a system we can trust, I am not going to risk or imperil the careers of clean athletes who have probably devoted at least half of their young lives to being at that point.“

He added: “It is often overlooked but I am happy to say this—my overwhelming concern is for the clean athletes because it is their birth right, it is their commitment, it is the hours and hours that they devote to our sport, and I need to protect them.

“Only when I am absolutely convinced that we are going to reintroduce a federation or athletes back into that system, only when I am absolutely comfortable that they are, as far as we know, clean athletes, then I don’t want to take that risk.” Wada has been criticized for not imposing a blanket ban on Russian athletes, but Coe does not think it would have been possible to legally enforce such a punishment.

“I think we have to live in the real world,” he told the Press Association. “A blanket ban is not something that has inherently ever been upheld by the Court of Arbitration [for Sport].

“They do want to look for proportionality, so our philosophy has always been when we introduced the ANA concept that it was predicated purely on one thing—can we separate the clean athletes from the tainted system?

“I didn’t come into the sport as a former competitor to lightly stop athletes from competing, and we were able to create a system which has served us well.

“But clearly the charges leveled against the new federation are serious enough for us to have to suspend that process.“ RusAF confirmed it had sent its response to the AIU’s allegations by the deadline on Thursday, following the charges against officials at the governing body.

Shlyakhtin, appointed RusAF president in 2016, was suspended by the AIU for his involvement in the obstruction of a probe into whereabouts violations committed by world indoor high jump silver medalist Danil Lysenko.

He has been accused of using fake medical documents in an attempt to ensure Lysenko avoided punishment and of failing to cooperate with an investigation.

The AIU concluded, following a 15-month probe, that RusAF officials had been involved in the provision of false explanations and forged documents to the AIU in order to explain whereabouts failures by the athlete. Along with Shlyakhtin, the RusAF Executive Director Alexander Parkin, the athlete and his Coach Yevgeniy Zagorulko have also been charged with “tampering and/or complicity“ under the anti-doping rules and also been provisionally suspended. Insidethegames

WORLD ATHLETICS FROZE THE REINSTATEMENT PROCESS FOR RUSSIAN ATHLETICS FEDERATION AND WARNED IT WOULD CONSIDER EXPELLING THE ORGANIZATION, FOLLOWING THE “SERIOUS ANTI-DOPING BREACHES” ALLEGED BY THE ATHLETICS INTEGRITY UNIT (AIU).

Wednesday, December 18, 2019

PREPS UP FOR TORCH RELAY T

OKYO—Members of the Japan soccer team that won the Women’s World Cup in 2011, will be the first to carry the torch for the Tokyo Olympics when the relay opens its Japanese leg on March 26, 2020.

The relay is to begin in J-Village in Fukushima Prefecture, located about 250 kilometers north of Tokyo. The area was devastated on March 11, 2011, by an earthquake, tsunami, and the subsequent meltdown of three nuclear reactors.

Organizers made the announcement on Tuesday, but did not say which player—or players—would be the first to carry the torch. The torch will go to all 47 Japanese prefectures, and 858 municipalities. Former Coach Norio Sasaki has also been asked to be part of the relay. The torch will be carried by torchbearers most of the way, but will be transported by train, boat or cable car between legs.

Organizers and the International Olympic Committee chose to start the relay in Fukushima, to show how the area is recovering from the disaster almost nine years ago. The torch will go through much of the Fukushima Prefecture, although some parts are still off limits to the general public.

The torch relay will take in several World Heritage Sites including Mount Fuji and the Itsukushima shrine—known as the “Floating Shrine“—in Hiroshima Prefecture.

The torch will be lit on March 12, in Greece. AP

THE Olympic torches of the Tokyo 2020 Olympic Games are displayed in Tokyo. AP

Fifa takes legal action against Blatter, Platini to recoup ’disloyal’ payment

F SEPP BLATTER is not yet off the hook.

IFA has taken legal action against former President Sepp Blatter and Michel Platini in a bid to recoup the $2 million paid to the ex-UEFA head in 2011.

In a statement, Fifa confirmed it had filed claims in the relevant Swiss courts against the two officials “seeking restitution of the CHF 2 million unduly paid to Mr. Platini back in February 2011.” Fifa’s Governance Committee passed a resolution last month that the organization should pursue recovering the funds, which have not been repaid.

The payment led to Blatter and Platini being banned from football for eight years, reduced on

appeal to six and four years, respectively.

Blatter, who led Fifa for 17 years before he resigned days after being reelected in May 2015, and Platini—touted as the successor to the Swiss before he was banned—both claim the payment was made under an oral agreement for work the Frenchman carried out for Blatter between 1998 and 2002. Fifa’s Ethics Committee dismissed this argument and said it was a “gift“ or “undue payment,” a ruling upheld by the Court of Arbitration for Sport (CAS).

In its decision in Platini’s case, the three CAS judges said they were “not convinced by the legitimacy“ of the payment.

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Former France international Platini, who served as UEFA president from 2007 to 2015, is able to work again in the sport after his ban expired in October.

But the 64-year-old will first have to pay a fine of CHF 60,000 (£46,000/$61,000/€55,000) if he is to return to any role in football.

Blatter, who quit as Fifa president amid an unprecedented corruptions scandal at the worldwide body,is still serving his six-year ban, which expires in October 2021.

A criminal investigation into the payment continues, although no charges have yet been brought by Swiss prosecutors.

Fifa, meanwhile, said it hired a new medical director from European champion Liverpool.

Soccer’s world governing body said in a statement Andrew Massey would join in March, with the title “Director of Medical.“ Massey joined Liverpool in 2013. His new responsibilities include leading Fifa’s “medical and anti-doping team dealing with all matters relating to health in football.“ Fifa’s previous chief medical officer, Jiri Dvorak, left three years ago. In more than two decades with Fifa, the Zurich-based neurologist oversaw global health plans and medical conferences for soccer doctors. Insidethegames

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Business

Wednesday, December 18, 2019

US college athletes get inadequate health care

DALLAS’S Kristaps Porzingis dunks during the first half of the Mavericks’ game against the Milwaukee Bucks on Monday. AP

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ARTFORD, Connecticut—US Sen. Chris Murphy released a report Monday calling on NCAA schools to do more to provide health care to their student athletes.

The report is the last of three from the Connecticut Democrat dealing with issues surrounding players and the money generated by college athletics.

Murphy, who cochairs a bipartisan congressional working group on athlete compensation with Utah Republican Mitt Romney, also announced they would meet Tuesday with NCAA President Mark Emmert to discuss developing national policies for paying athletes.

The senator released a report in March critical of how little college athletes benefit from the profits generated by sports. A second report in June detailed what he called a “lack of academic integrity” among NCAA institutions.

His latest report recommends the NCAA require full health coverage for athletes and allow players to see doctors who are not associated with their athletic program or school.

Murphy also wants schools to guarantee four-year scholarships for athletes, including those who become injured, and allow players to transfer immediately from programs if they believe their health is at risk.

He also called for stronger consequences for schools that don’t follow protocols for handling concussions, and other health issues.

“The NCCA Division I manual is 400 pages long,” Murphy said. “In it, 38 pages are dedicated to stopping student athletes from being able to make money. One page of 400 is dedicated to protecting the health of college athletes. That speaks to the misplaced priorities of the NCAA today.”

Phone and e-mail messages seeking comment were left with the NCAA. The issue of athlete compensation has gained urgency since California passed a law in October, that will give college athletes the right to make money off things like endorsement deals and promoting businesses or products on their social-media accounts. That law does not go into effect until 2023.

Since then, more than 20 other states have moved on similar legislation, with some states saying they would like new laws in place as soon as next year.

Murphy said there needs to be a uniform national policy, or at least minimum national requirements, for compensation from which all states can work in passing their own legislation.

“To me, this is an issue of civil rights,” Murphy said. “These are largely young African-American athletes that are playing at the big-time college sports programs.

And the adults who are getting rich off their exploits are largely white.”

The NCAA board of governors in October voted to allow athletes to be compensated “in a manner consistent with the collegiate model,” and gave schools in its three divisions until 2021, to come up with a policy.

Murphy said he is willing to work with the NCAA on federal legislation but believes that organization wants Congress to pass something that provides a very limited right to compensation for athletes.

He said that is something he is not interested in doing. AP

VINCE CARTER’S place in history is secure. AP

MAVS SNAP BUCKS RUN

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ILWAUKEE—The Bucks have little time to reflect on the end of their 18-game winning streak.

Milwaukee’s impressive run was halted Monday night when Seth Curry and Kristaps Porzingis each scored 26 points to help the Dallas Mavericks hang on for a 120-116 victory even without star guard Luka Doncic.

Milwaukee, which dropped to 24-4 with its first loss since a 103-100 setback November 8 at Utah, next hosts LeBron James and the Los Angeles Lakers (24-3) on Thursday in a matchup of conference leaders.

“It’s going to be a test for us,” said Giannis Antetokounmpo, who led the Bucks with 48 points and 14 rebounds. “The Lakers are one of the best teams in the league. We’ve got to play good basketball. We’ve got to move the ball.

Obviously as a team, we don’t want to lose two in a row.”

The winning streak was the Bucks’ longest since a franchise-record 20 consecutive victories by the 1970-71 championship team that featured Kareem Abdul-Jabbar, then known as Lew Alcindor and Oscar Robertson.

Dallas led comfortably for most of the fourth quarter until the final half-minute.

Tim Hardaway Jr. hit the second of two free throws to make it 119-114 with 7.6 seconds left. Antetokounmpo scored on a layup and was fouled, but missed the free throw. Sterling Brown grabbed the offensive rebound, but his put back was blocked by Porzingis.

“I’m proud of the way the guys fought to the very last second tonight,” Bucks Coach Mike Budenholzer said. “To find a way to be close in the fourth quarter and have an offensive rebound and give ourselves a chance, I think it’s just a sign of the competitive nature of this group.”

Doncic sat out with a sprained right ankle,

while the Bucks were missing injured point guard Eric Bledsoe.

Milwaukee trailed 86-76 entering the fourth quarter and pulled to 99-92 before Porzingis hit back-to-back 3-pointers from long range. The Bucks got no closer until the final 23 seconds.

Dallas was 16 of 41 from 3-point range, including four 3s each by Curry and Porzingis.

The Bucks went 11 of 41 from beyond the arc.

“I hit those two deep 3s but even then, Giannis was right there in front of me,” Porzingis said. “They know we are a pretty good shooting team. But we have so many weapons and anybody on any given night can score 20-plus points. That’s the dangerous thing about us. Tonight, Seth played great. It’s kind of hard to play against a team that has so many options.”

Kyle Korver added a season-high 17 points for Milwaukee, including five 3-pointers.

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Milwaukee trailed 69-67 when Antetokounmpo went to the bench with 6:32 left in the third quarter, having scored all 11 of the Bucks’ points in the period. Dallas led 75-69 when Antetokounmpo returned after a two-minute breather, and the Mavericks pushed the margin to 80-69.

Dallas was seven of 13 beyond the arc in the first quarter en route to a 36-22 lead entering the second period.

The Washington Wizards, meanwhile, hardly missed during the first quarter, shooting 81 percent from the field. Then in the final period, they nearly repeated that feat.

Bradley Beal scored 35 points and Isaiah Thomas added 23 to lift the Wizards to a 133-119 victory over the Detroit Pistons on Monday night. Washington led 43-31 after the first quarter, and after the Pistons rallied, the Wizards shot 78 percent from the floor in the fourth. AP

GINEBRA EYES UPPERHAND B

BARANGAY Ginebra San Miguel Aljon Mariano and NorthPort import Michael Qualls get physical in Game Two.

ARANGAY Ginebra and Northport—all even at 1-1—try to apply more pressure on the gas pedal in crucial Game Three of the Philippine Basketball Association Governors’ Cup best-of-five semifinals on Wednesday, at the Smart Araneta Coliseum.

The Gin Kings returned the favor to Batang Pier in a semblance of their Game One beating last Monday to tie the series at one apiece.

Stanley Pringle scored 23 points, while LA Tenorio finally got his touches to add 20 in their huge 113-88 win over NorthPort.

Rested and both eager to move further in the tournament, the two meet again for the series edge at 7 p.m.

With barely four days to recover from the Southeast Asian Games duties, Coach Tim Cone and his boys were left flattened in a 90-124 thrashing in the semifinals opener.

Cone served as head coach, while Pringle, Japeth Aguilar, Tanorio and Greg Slaughter played under his guidance on the gold-medal winning team.

Fatigue took its toll on the Gin Kings in Game One and Cone admitted that they lagged behind NorthPort, which also lent Christian Standhardinger to the national squad.

“We didn’t seem get to have much time

Struggling Phoenix hoping Ayton’s return gives boost

HOENIX—Starting center Deandre Ayton is returning from his 25-game suspension at a good time for the Suns.

Phoenix has been a surprisingly competitive team in the Western Conference through the season’s first seven weeks, fighting through its schedule with an 11-15 record despite a patchwork frontcourt that’s included Aron Baynes, Frank Kaminsky III and Dario Saric. But the Suns could use a boost after losing four of their past five games.

Ayton’s expected return Tuesday night against the Los Angeles Clippers could provide

Vince Carter’s NBA milestones keep piling up

it, especially since it comes just 24 hours after a frustrating 111-110 loss to Portland.

“It’ll give us a shot of energy, it’s exciting,” Suns forward Cameron Johnson said. “You know his energy is going to be really high right now.

It’s exciting to get one of your brothers back.”

Ayton played the season’s opening game on October 23—scoring 18 points and grabbing 11 rebounds—before being suspended for violating the terms of the NBA/NBPA Anti-Drug Program after testing positive for a diuretic.

The 6-foot-11, 250-pounder averaged 16.3 points and 10.3 rebounds last year as a rookie.

“I’m hopeful that we don’t rely on anybody to be the savior,” Suns Coach Monty Williams said. “I’m hopeful that our style of play stays the same and that he fits right in and makes it even better, if that makes sense.”

Baynes, Kaminsky and Saric have all been productive in Ayton’s absence, but it’s Baynes’s great start that might be the most surprising.

The 6-foot-10, 260-pound veteran has been a valuable role player throughout his career, including with the Boston Celtics and San Antonio Spurs, but the 33-year-old’s production has spiked in his first season with the Suns.

He’s averaging a career-high 14 points while providing his trademark bruising defensive presence in the lane.

Kaminsky and Saric are both averaging about 11 points per game. But none of them possess Ayton’s athleticism. There’s little doubt the Suns have missed him.

“He is a rim protector, he can rebound, he can score and we certainly need that pressure on the rim on offense,” Williams said. “All of that stuff along with moving the ball, I am hopeful that it translates into us playing even better than we have.” AP

to prepare,” Cone said. “We just didn’t know what to do.”

Barangay Ginebra, however, regained its groove and leaned on its hot shooting. The squad also locked down on Batang Pier import Michael Qualls, who could only perform on a one-of-10 shooting in the first half after scoring 27 in the series opener.

“We’ve recovered and battled our way through that,” Cone said.

Slaughter added 16 points in Game Two, while import Justin Brownlee registered 15.

Ramon Rafael Bonilla

HE milestones are piling up, and running out, for Atlanta’s Vince Carter.

His next game—which could come as early as Tuesday, when the Hawks visit the New York Knicks—will be the 1,504th in his career, which will tie John Stockton for fourth-most in National Basketball Association (NBA) history.

Barring injury, Carter will pass Dirk Nowitzki later this season for No. 3 on the career list.

Third place is the ceiling for Carter; assuming he doesn’t change his mind about retirement and play again next season, he can’t catch No. 2 Kareem Abdul-Jabbar (1,560) or No. 1 Robert Parish (1,611). Nowitzki retired after 1,522 games.

It has not been the ideal start to the farewell season. The Hawks are 6-21. They need to beat the Knicks on Tuesday, just to stay out of last place in the Eastern Conference.

But Carter’s last lap around the league has been worth celebrating.

“Many different teams, many different highlights, many different moments of his career, too many to count,” Hawks Coach Lloyd Pierce said. “But we’re going to cherish and appreciate what we have this year.”

There are more milestones to reach: Carter is also 60 points away from passing Alex English for 19th on the league’s career-scoring list. He has an outside chance of climbing a couple more rungs on that ladder, as well.

The league hasn’t said yet if Carter will get the All-Star Game curtain call that Nowitzki and Dwyane Wade got last season in their farewells.

But savvy fans know that when Atlanta comes to their town for the last time this season, it’ll almost certainly be the last time they can applaud Carter.

In Miami last week, fans paid tribute to him twice with long ovations. Heat Coach Erik Spoelstra told the story of how back in his scouting days for Miami, one of his assignments was Toronto—when Carter played for the Raptors. How long ago was that? “I don’t remember those two years of my life,” Spoelstra said. Opposing players are taking notice of the moment as well, knowing they soon won’t be able to face off with Carter again.

“I love that guy,” Miami’s Jimmy Butler said.

“I’m so glad that the fans showed him love, as well. What he’s done for the game of basketball, his career, legendary, Hall of Famer, all that stuff. He’s a great human being.”

His place in history is secure. All that’s left to decide are the final numbers. AP

SOUTHWOODS PULLS AWAY BY 44 PTS OVER FOREST HILLS

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OWERHOUSE Manila Southwoods slowed down with a 115 but still pulled away by 44 points over Forest Hills to all but wrap up its seventh straight championship in the Fil-Am Invitational Golf Tournament at Baguio Country Club, on Tuesday.

Lanz Uy fired 33 points to power the Carmona-based squad’s third round charge while firming up his bid for the individual crown in the centerpiece division.

Aguri Iwasaki carded 29 points while Sean Ramos and Taisei Shimizu added 27 and 26 points, respectively, for the defending six-time champion, whose top gun Aidric Chan continued to grope for form.

Chan, who ended the country’s long title spell in the premier side (15-18) of the Junior World in San Diego last July, failed to count anew with a 24 but Uy, who assembled a 113 total, and the rest took care of business to put Southwoods closer to another title romp with a 424 total.

Forest Hills drew 30 points from Iñigo Raymundo while Rocky Co, Dan Cruz and Leandro Bagtas chipped in 28, 27 and 26 points, respectively, for a 111 and a 54-hole aggregate

of 380, while Royal Northwoods shot a 107 build around Stephen Sui, Joaquin Hernandez and Gido Mandanas’s identical 27 points and Nik Gatmaytan’s 26 points for a 375 output.

Team Time Cargo matched Southwoods’ 115 for a 355. Southwoods, likewise, lined itself up for a romp in the Am Championship as it stretched its lead to 20 points with a 344 after a 133 at Camp John Hay course as Masaichi Otake broke par worth 36 points.

Jeff Jung scored 33 points while Santino Laurel and Josh Jorge added 27 and 26, respectively, for the young Southwoods squad.

Batangas came away with 121 points on Gary Sales’s one over card worth 35 points while Ricky delos Santos turned in 31 points and Gerald Katigbak and Michael Mendoza shot 28 and 27 points, respectively.

Forest Hills, on the other hand, moved to third after shooting the day’s best 124 as Rodolfo Brobio matched par worth 36 points and Ronnie Littaua, Rodel Mangulabnan and Raffy Garcia backed him up with 31, 29 and 28 points, respectively.

Islander Mizuno slipped to fourth with a 300 after a 116.

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SOUTHEAST ASIAN GAMES NOW, THE OLYMPICS NEXT

Wednesday, December 18, 2019

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UOYED by the success of the country’s campaign in the recent 30th Southeast Asian (SEA) Games, the Philippine Sports Commission (PSC) hopes the Filipino athletes would carry the momentum to the Tokyo 2020 Olympics.

Marc Velasco, national training director of the Philippine Sports Institute (PSI), stressed the PSC has its sights trained at the Olympics, with the campaign for the SEA Games overall championship done and over with.

And the country winning a record number of medals in the SEA Games, including 149 golds,

to win the overall championship after 14 years, all the more raises the optimism of qualifying more Filipinos to the 2020 Summer Games.

“We firmly believed that we will be able to carry over the efforts and energy of the athletes. We are still very high in our success, we believe we might have a big contingent in Tokyo,” said Velasco, who represented Team Philippines Chef de Mission and PSC Chairman William “Butch” Ramirez in Tuesday’s session of the Philippine Sportswriters Association Forum at the Amelie Hotel-Manila.

World gymnastics champion Carlos Yulo

and pole vaulter EJ Obiena are the two Filipino athletes who already punched tickets to the Tokyo Games, with several more knocking on the Olympic door, including Rio de Janeiro Games silver-medal winner Hidilyn Diaz, judoka Kiyomi Watanabe, skateboarder Margielyn Didal, world boxing champion Nesthy Petecio and silver medalist Eumir Marcial, and a few more in athletics, swimming, fencing, golf and taekwondo.

Yulo and company were all gold-medal winners in this year’s SEA Games, leading the way for the country to win back the overall

BAMBOL SERIOUS

ON HANOI SEAG B R R B

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HILIPPINE Olympic Committee President Abraham Tolentino will be persistent in rallying for the inclusion of at least three sports on the 31st Southeast Asian Games that he intends to travel on a weekly basis in Hanoi, Vietnam.

Speaking on the sidelines during the distribution of cash incentives to the gold medalists of the recent SEA Games at the Conrad Hotel on Tuesday, Tolentino said he plans to woo the next host which only has 36 sports on its program.

“Vietnam has presented and they are going to have 36 sports. That’s why next year, every week I will go to Vietnam to persuade them to include at least three sports, Tolentino said. For the 30th edition, the country catered 529 events in 56 sports—the biggest ever in Games history.

Although it was a logistical nightmare, the Philippines pulled through and amassed 149 gold, 117 silver and 121 bronze medals—the most fruitful harvest for the country.

The architect behind the success was no other than Tolentino, who bared that it was last year when he meticulously scribbled on a scratch paper the sports he thought the country would have the best chances of winning. “Imagine, we are the overall champion. Who would think we can do it?” he said. “I designed it last year, on a piece of paper.”

Vietnam has classified athletics and aquatics as the mandatory events, while sports, such as basketball, volleyball, weightlifting, badminton, and other Olympics and Asian Games disciplines are in Category Two. The 2021 host, however, included its local sports—the martial art of vovinam in Category

Three. Also to be played are finswimming, shuttlecock and eSports.

The Cavite representative also bared that he will meet Sheikh Fahad Al-Sabah, the president of the Olympic Council of Asia, who he wants to speak with in Jakarta next week to personally lobby the country’s bid for the 2030 Asian Games. Uzbekistan is also bidding for the 2030 Asian Games.

The windfall of cash rewards, meanwhile, should serve as fuel for athletes to strive for more, according to Tolentino.

“[But now], the Olympics are just six months away. So if we still have more athletes qualifying in the first quarter of next year the Olympics, the PSC support will never cease.”

Velasco added the PSC would finance all qualified Filipino athletes in their overseas training, especially where they would prefer to hold their respective camps. Yulo will train in Japan, while Obiena’s choice is Italy.

During the 2016 Olympics in Rio de Janeiro, the Philippines qualified 13 athletes, with Diaz providing the lone medal win—a silver in women’s -53 kgs of weightlifting.

title it last held in 2005. The Olympics weren’t held until three years after the country’s breakthrough championship, but the success did spill to the 2006 Asian Games in Doha, Qatar, where the Philippine contingent won four golds, six silvers and nine bronzes.

“It’s a different scenario in 2005. We didn’t have an Olympic year after that,” added Velasco in the session presented by San Miguel Corp., Braska Restaurant, Amelie Hotel, and the Philippine Amusement and Gaming Corp. “So it’s a different environment then.”

SOFTBALL President Jean Henri Lhuillier poses for a souvenir shot with the Blu Girls.

LHUILLIER LAUDS PERFORMANCE OF CEBUANA PROGRAM ATHLETES

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EBUANA Lhuillier Sports athletes showed their true mettle by winning two gold, three silver and six bronze medals in softball, tennis and swimming in the 30th Southeast Asian Games.

“The impressive wins of our athletes is a testament to the grit and talent of the Filipino people. Their world-class performance deserves our patronage and support. I am very proud to be part of their journey, and I call on others to rally behind them to bring honor and pride to our country,” said Cebuana Lhuillier President Jean Henri Lhuillier.

Lhuillier is also the president of the Amateur Softball Association of the Philippines (Asaphil) and Unified Tennis Philippines (UTP).

Lhuillier has been the moving force behind the now 10-peat SEA Games softball champions RP Blu Girls, as well as their male counterparts and the equally talented Blu Boys, who settled for the silver behind Indonesia.

“Salamat po sa walang sawang pagsuporta po na ibinigay ninyo sa amin kasi kung wala po kayo, hindi po kami magkakaroon ng pagkakataon na ipakita ang aming talento at mag-uwi ng karangalan sa bayan,” Blu Girls pitcher Mary Ann Antolihao said.

This is the first SEAG tournament for the two-time University Athletic Association of the Philippines (UAAP) Best Pitcher Antolihao.

PHILIPPINE Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino presents the Certificate of Regular Membership to modern pentathlon President Richard Gomez. Looking on are POC Secretary-General Atty. Edwin Gastanes (left) and Chairman Steve Hontiveros.

The gold medalists received their checks on Tuesday in a simple gathering after the POC General Assembly.

Each of the 149 gold medalists earned P200,000—those in team events got P75,000 each. The bounty for gold-medal winners was reduced to P200,000 from P300,000 to accommodate the silver and bronze medalists.

They will get their checks on Thursday and Friday at the POC office in Pasig City.

“They are shocked, grateful. I think they will work harder after those incentives,”

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As president of the UTP, Lhuillier provides international for US-based Filipino top seeds Treat Huey and Ruben Gonzales, and homegrown talents Jeson Patrombon and Francis Casey “Niño” Alcantara.

They were responsible for an all-Filipino finals at the SEA Games’ men’s doubles event with Patrombon and Alcantara bagging the gold medal at the Rizal Memorial Sports Complex.

“Sir Jean’s done such a great job supporting Ruben and I. We couldn’t have achieved so many of the things we have done without his support. He has done so much for Philippine tennis. In fact, we have progressed as players because of him and we are thankful to him and Cebuana Lhuillier for that,” said world-ranked tennis player Huey.

Lhuillier is also a staunch supporter of two-time Olympian swimmer Jasmine Alkhaldi, who raked in two silver and four bronze medals in the Games at the New Clark City Aquatics Center in Capas, Tarlac.

“To Cebuana and most especially to Sir Jean Lhuillier, thank you so much for all the support. I wouldn’t be here without your help and I will try my best each and every day to make you guys proud,” Alkhaldi said.

Cebuana Lhuillier athletes and coaches were given cash incentives as a reward for their hard work and valuable contribution to Philippine sports.

Tolentino said. Private donors and congressmen contributed to the POC incentives.

Dennis Uy, through his Udenna Corp., gave P15 million. The House of Representatives pledged P10 million, while the POC dispensed from the combined P46-million assistance from the Philippine Basketball Association, San Miguel Corp. and the MVP Sports Foundation.

“Before there were no rewards for silver and bronze medalists, but we have it now. It’s because of the private sponsors. They trust the POC leadership,” Tolentino said.

Casimero intends to unify all 118-lb world champion belts WAKEBOARDERS MAKE QUIET, I BUT EFFECTIVE CONTRIBUTION

MEMBERS of the wakeboardingteam that produced a 2-2-2 gold-silver-bronze medal haul strike a pose at the Deca Wakepark Clark.

F ever a title fight between Johnriel Casimero and Naoya Inoue is penciled, the handler of the newly crowned Filipino world boxing champion sees the bout being held either in Las Vegas or Los Angeles.

Manny Pacquiao Promotions President Sean Gibbons believes a unification match between the Filipino and the unbeaten Japanese would be best suited to take place in the US especially after Top Rank recently signed up the 26-year-old Inoue, nicknamed “Monster” to a multiyear promotional deal.

Gibbons said Top Rank Chairman Bob Arum would definitely want to build a US market for Inoue, who has only fought twice outside of Japan.

“I believe they want to introduce Inoue to the US market, that was the idea of signing

Bob Arum with Top Rank. So I see the fight probably being in Las Vegas or Los Angeles,” said Gibbons, who was with the 29-year-old Casimero in the last session of the Philippine Sportswriters Association Forum for the year 2019 on Tuesday at the Amelie Hotel-Manila.

The MP Promotions executive is looking at a possible unification fight between two of the best bantamweights in the world today

by April 2020—although that would depend on how quickly Inoue recovers from the facial injuries he suffered in his last fight against Filipino Nonito Donaire Jr. Inoue is nursing a fracture in his right eye socket (orbital bone).

The Japanese (19-0, 16 KOs), promoted by Hideyuki Ohashi, won the World Boxing Super Series tournament with a 12-round decision

W AL MENDOZA alsol47@yahoo.com

THAT’S ALL

Kenzo, shining Filipino star gymnast in New Zealand

against Donaire, but found himself in his toughest fight yet against the Filipino veteran.

Judging by the way Inoue had to battle his way to a hard-earned win against Donaire, Casimero, who was with sister Sherilyn and brother Jayson in the forum, likes his chances against the Japanese.

“Gusto ko ng lumaban kay Inoue para magka-alaman na kung sino talaga ang magaling sa amin,” he said in the session presented by San Miguel Corp., Braska Restaurant, Amelie Hotel, and the Philippine Amusement and Gaming Corp.

And he didn’t mince words about what his real target is. “Gustung-gusto ko na apat na belt ang kukunin ko,” said Casimero, who wants to unify the entire 118-lb division.

Inoue currently owns the International

HILE Carlos Yulo was busy putting the Philippines in the world map of gymnastics last October, a gymnast-lad of Filipino parentage was quietly basking in New Zealand under the glow of his own humble heroics in the sport.

Yulo was a virtual unknown until he won the floor exercise in the recent World Gymnastics in Stuttgart, Germany.

Before amassing that amazing feat, nobody knew that Yulo, 19, was training in Tokyo for five straight years under the tutelage of a Japanese coach.

Nobody knew, too, that Yulo came from a poor neighborhood by a creek in Manila’s Leveriza Street, a most unlikely place to uncover a talent in a sport generally regarded as virtually only for the rich.

Yulo’s feat in Germany automatically earned him a slot in the Tokyo Olympics next year. Now comes Kenzo Santayana, only 15 years old but already, he has scored

Boxing Federation and World Boxing Association belts, while the World Boxing Council champion is Nordine Oubaali.

Casimero won the WBO belt on November 30 in Birmingham, England, following a thirdround demolition of Zolanie Tete of South Africa.

Gibbons sees Casimero giving Inoue a good run for his money more than Donaire did.

“Nonito Donaire showed a lot of flaws in Inoue. Inoue is a great offensive fighter, but defensively, he has a lot of holes,” he pointed out.

“I believe that Casimero at his age, his experience, his power, his overall boxing skills, he’s what Nonito Donaire was seven years ago,” Gibbons added. “I really believe that he has the style and the power to take Inoue.”

spectacular victories in New Zealand that should instantly prod our gymnastic officials to enlist him in our present national development program as soon as possible.

Easily, Santayana’s early achievements should absolutely make him a cinch to join our national pool of talents.

Paging Chairman Butch Ramirez of the Philippine Sports Commission (PSC). Go, kick some ass to ensure we grab this kid for flag and country.

For starters, Santayana, the eldest son of Archie and April (Isla), is presently the back-to-back champion in men’s artistic gymnastics in both the 2018 and 2019 New Zealand Gymnastics Championship.

He is very disciplined, determined and dedicated to his craft, electing not to skip the 2019 New Zealand National Championships last October 15—the day he turned 15.

He was amply rewarded, winning the Men’s Artistic

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NE of the sports that quietly delivered and contributed to the success of Team Philippines in the 30th Southeast Asian Games was wakeboarding.

Little has been heard from this sport during the magical 12 days of the biennial meet but wakeboarding netted two gold, two silver and two bronze medals in what could be its most productive showing in years.

Winning two of five golds contested at Deca Wakepark Clark were Jhondi Wallace (men’s wakeskating) and Susan Larsson (women’s skating), while settling for silvers were Samantha Bermudez (wakeboarding) and Raphael Trinidad (wakeboarding).

Gymnastics Level 7, a premier event in the annual NZ national competitions.

Santayana went on to become the 2019 Gymnast of The Year for Levels 7, 8 and 9 in NZ’s Gymnastics Championships at the Trusts Stadium Arena in Auckland.

Before these sterling accomplishments, Santayana represented New Zealand last February in the prestigious Valeri Liukin Open Invitational in Dallas, Texas, US, topping his event running away.

In an interview with the Filipino Migrant News of New Zealand, Kenzo’s mother, April, said of Kenzo: “Kenzo has been practicing at North Harbour Gymnastics since he was five years old. This has molded him to be disciplined in how he takes care of his body, how he manages his time and how he deals with challenges that confront him as a student and as a maturing young adult.”

Santayana, a Year 10 student at Westlake Boys High School in Auckland, practices five hours a day and,

The two bronzes came from Ralph Villaro (wakeboarding) and Christian Joson (wakeskating).

“This has been our strongest showing yet in the biennial meet as Thailand and Indonesia dominated the previous tournaments. But we trained so hard for this SEA Games and we [are] glad we delivered,” Bermudez said.

“And we are forever thankful to our competition manager, JV Tanjangco, and coaches Carlo dela Torre, Carive Rodriguez and Andrea Tanjangco for our success,” she added.

Thailand won two golds while Indonesia got one.

With its SEA Games success, the team is looking to make waves in the World Cable Wakeboard Championships in Thailand next year.

definitely, that says a lot about discipline, dedication and determination.

His grandpa, Dan, the former president of Lexus Manila, who is in town with his charming wife, Joy, for the holidays, said to me last week: “Kenzo will be here in July.”

Chairman Butch and dearest Cynthia (Carrion, Philippine gymnastics president), take heed. Now. Yulo’s heir apparent could be just around the corner.

THAT’S IT Best wishes today, December 18, to lovely couple Suzie & Mike Yngson, who are celebrating their 25th wedding anniversary. Here’s praying for more to come your way, lovebirds!...Gayang and Dennis (Umali) deserve our blessings and God’s graces, too, as they tie the knot today, December 18, at St. Augustine Church in Baliuag, Bulacan. Good life, good health and good kids to you, guys.

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Sports BusinessMirror

Wednesday, December 18, 2019

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CHINA ON OZIL: BLINDED, MISLED TEAMMATES hug Sweden’s Alexander Isak after referee Daniele Orsato briefly stopped the game following alleged racist chants against the player during the Euro 2020 qualifying match between Romania and Sweden at the National Arena stadium in Bucharest.

AP

B

EIJING—China’s government said Monday that Arsenal forward Mesut Ozil was “blinded and misled” when he criticized Beijing’s crackdown on Muslims in Xinjiang.

The government said Ozil is welcome to visit the northwest region and “look around.”

Chinese state TV canceled the broadcast of Arsenal’s game against Manchester City on Sunday after the German-born player criticized mass detentions of Muslim people and the closure of mosques in Xinjiang.

“I don’t know if Mr. Mesut Ozil has ever visited Xinjiang. It seems that he was blinded and misled by some false reports and untrue words,” said Geng Shuang, a foreign ministry spokesman.

“We welcome Mr. Ozil to visit Xinjiang to look around,” Geng said. “As long as he has a conscience, can distinguish right from wrong, and uphold objective and impartial principles, he will see a different Xinjiang.”

China has been accused of detaining more than 1 million Uighurs and other minorities in Xinjiang, and subjecting them to political indoctrination, torture, beatings and food deprivation.

Beijing increasingly uses the threat of loss of access to China’s growing market as leverage to try to control what companies, sports teams, universities and others say or do abroad about political issues.

China is the Premier League’s most lucrative overseas broadcast market. Rights were sold for $700 million in a threeyear deal that runs through 2022.

Arsenal tried to distance itself from Ozil.

“The content he expressed is entirely Ozil’s personal opinion,”

the London team said. “As a football club, Arsenal always adheres to the principle of not being involved in politics.”

UEFA, meanwhile, has ended a case against Romania’s soccer federation that was opened after a Sweden player claimed he was racially abused during a European Championship qualifying game. UEFA confirmed its disciplinary panel’s decision on Monday without citing reasons.

Sweden forward Alexander Isak told the referee he heard racist abuse during Sweden’s 2-0 win in Bucharest last month.

Play was briefly stopped to broadcast a warning to fans at National Stadium in Bucharest.

Isak follows Chelsea and Belgium forward Michy Batshuayi and Liverpool forward Rhian Brewster in having their investigations of their racial abuse claims dropped by UEFA for lack of evidence. Both those cases were two seasons ago.

UEFA did fine Romania €40,500 ($45,000) for other fan incidents at the Sweden game, including illicit chants and an offensive banner. Romania’s national stadium will host four games at Euro 2020 in June.

In the Champions League, UEFA has charged Lyon over clashes between players and fans after the team advanced to the round of 16 last week by rallying to draw with Leipzig 2-2.

Lyon forward Memphis Depay objected to a fan banner insulting a teammate as a donkey, and tried to take it from a fan near the edge of the field.

UEFA’s range of charges against Lyon include “insufficient protection of the playing area,” and will be judged on February 27. That is one day after Lyon’s next home game in the

competition, against Juventus.

Juventus faces UEFA punishment on the same day for fans going on to the field when the team played at Bayer Leverkusen last week.

The Ukrainian soccer player subjected to Nazi taunts by fans during a Spanish second-division match had already been targeted by fans last season.

At the end of last season, Albacete forward Roman Zozulia received death threats from opposing fans during a match against Deportivo Lugo.

On Sunday, the game between Albacete and Rayo Vallecano was halted at halftime after opposing fans abused Zozulia in chants and in a banner. The Spanish league said both teams asked the referee to stop playing. The game was tied 0-0.

In the match at Deportivo Lugo in March, the home fans repeated chants of “Die, Zozulia.” The Spanish league denounced those chants to the Spanish soccer federation at the time.

There had been reports of other games in which the striker was insulted by fans of Spanish clubs.

Spain’s players’ association said in a statement on Monday it hoped for a firm response to condemn the incident.

“We request that disciplinary and preventive measures be taken to keep this type of behavior from happening again,” the association said.

The Spanish federation’s anti-violence committee would likely be in charge of analyzing the case.

Zozulia made headlines in Spain early in 2017 when his loan from Real Betis to Rayo Vallecano had to be called off because

CHINESE government welcomes Mesut Ozil to visit Xinjiang.

of protests by Rayo fans who accused the player of having connections to radical groups in his home country. Zozulia has always strongly denied such connections.

Rayo fans began criticizing Zozulia on social media even before the loan from Betis was officially announced. A few supporters insulted the player as he arrived at the club’s training center, and a large banner was in place demanding he leave the club.

Zozulia returned to Betis but couldn’t play because the transfer to Rayo had officially gone through just before the end of the transfer deadline. He was then signed by second-division club Albacete, where he has played since.

The decision on whether Sunday’s game should be finished will be taken by the federation.

Zozulia’s teammates said the player was crying and arrived in the changing room “completely destroyed,” according to Albacete club official Víctor Varela.

Rayo President Martín Presa said the Madrid club was ashamed of the incident.

“It is a very sad night for Rayo and for all of sport,” Presa said.

“We want to vehemently condemn the insults by a part of our fans.”

Rayo’s players and coaches released a statement on Monday lamenting the incident and making a call to “abolish any type of violence, racism and xenophobia from our football stadiums.”

Before the match, Albacete midfielder Néstor Susaeta said the squad would fully support Zozulia, even if he decided not to play in the match in Vallecas. AP

Barca vs Madrid threatened by political pol protest B

LIONEL MESSI is expected to lead Barcelona against Real Madrid. AP

ARCELONA, Spain— This clásico promises to be like none other. Unfortunately, it may not be for the goals scored

by Lionel Messi’s Barcelona or Karim Benzema’s Real Madrid.

Catalan separatists are planning to gather in large numbers around the Camp Nou and possibly carry out actions inside Barcelona’s stadium on Wednesday when Real Madrid comes to play in one of the most watched matches of the season. More than 25,000 protesters have agreed to gather outside Camp Nou, according to the online separatist platform Tsunami Democratic.

The group says there will also be protesters among the spectators at the 99,000- seat stadium. Police have detail involving police prepared a 3,000-strong special detail and private security staff to try to ensure the team buses arrive on time and nothing interrupts the match.

Madrid and Barcelona will be staying at the same hotel before the match, one very close to the Camp Nou. Some local media reports said the teams would arrive together at the stadium for security reasons.

The match was already postponed from its original date on October 26 because of fears that separatists, then in the midst of a week of violent protests, would disrupt the game.

The clubs are level at the top of the Spanish standings after a weekend in which both were held to draws.

Barcelona and Real Sociedad went 2-2 on Saturday, and Madrid needed a last-gasp goal by Benzema to draw at Valencia 1-1 on Sunday.

BESIDES several thrilling showdowns between the powerhouse clubs, this century has seen some highly charged clásicos in Barcelona that got out of control.

The most outlandish was former Barcelona star Luis Figo’s return in a Madrid kit in 2000. The Portugal forward was welcomed by a showering of trash, including a pig’s head, at him by his spurned former fans.

A close second place goes to Madrid Manager Jose Mourinho poking then-Barcelona Assistant Tito Vilanova in the eye during a mass brawl between the teams in 2011.

to trigger the escape clause in Antoine Griezmann’s contract with Atlético Madrid with the hope of finding a third world-class scoring talent after Philippe Coutinho failed to fit the bill.

Just in time for Madrid, Griezmann has found his scoring form after struggling to adapt to his new role at Barcelona in the opening months of the season.

The French World Cup winner has scored three times in his last five games and has tallied seven goals on the campaign. Equally as important, he is clicking well with Messi and Luis Suárez, with all three combining for 33 goals.

Griezmann scored in Saturday’s draw at former club Sociedad.

“It was always nice to watch the clásicos on television, and now I can fulfill the dream of playing in one,” Griezmann said on Sunday. Messi will be looking to increase his clásico record of 26 goals.

BARCELONA DOMINANCE

MADRID’S BENZEMA

CRAZY CLÁSICOS

BARCELONA hasn’t lost a game to Madrid in six consecutive league meetings, while Madrid’s last win at Camp Nou in the league was in April 2014.

Last season, Barcelona routed Madrid 5-1 without the injured Messi. Madrid then drew at Barcelona 1-1 in the Copa del Rey, only to lose 3-0 in the second leg at home.

BARCA’S GRIEZMANN

BARCELONA spent €120 million ($134 million) this summer

BENZEMA will be the No. 1 threat for Madrid.

The French striker leads Madrid with 16 goals in all competitions and leads the Spanish league along with Messi with 12 strikes. Who will accompany Benzema in Madrid’s frontline is more of a mystery.

With Eden Hazard most likely unavailable because of a leg injury, Zidane could align Gareth Bale, Francisco “Isco” Alarcón, Lucas Vázquez or Brazilian youngsters Rodrygo and Vinicius Junior. AP

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Gracious God

EAR God, Your compassion and mercy are from of old.

In trust we pray: Guide us by Your Spirit, oh God. Make Your Church a sign of Gospel joy and justice. Help us to reach out to those who have left their faith communities or feel alienated from the Church. Animate school administrators, teachers and staff in wisdom, joy and love for students and parents. May God increase in us the gifts of faith, hope and love, and lead us along the path to everlasting life, through Jesus our brother. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

IN REVERSAL, HALLMARK WILL REINSTATE SAME-SEX MARRIAGE ADS D3

Wednesday, December 18, 2019

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Smart holiday shopping: Avoiding fake reviews and tricky ads

BY JOSEPH PISANI & ANICK JESDANUN The Associated Press

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EW YORK—There are lots of bargains online during the holidays, but also plenty of ways to get scammed, even at established outlets like Amazon.

How can you be sure you’re reading a legitimate review, not one coming from a company employee?

How can you flag sponsored placements and other ads—and protect your credit card once you buy?

Although there’s no magical solution, try some of these practices to be a savvier online shopper.

REVIEWING THE REVIEWS ONLINE reviews at major retailers, such as Amazon and Walmart, and listing services, such as Yelp look like a good place to get firsthand information from people who’ve tried a product or merchant.

But investigations by The Washington Post and BuzzFeed have described networks of fake reviewers paid to inflate ratings for lesser-known sellers on Amazon.

Merchants might also have their own employees write favorable reviews, or trash competitors.

Amazon has waged a legal battle against fake reviewers since at least 2015, when it claimed in a court filing that “an unhealthy ecosystem is developing outside of Amazon to supply inauthentic reviews.” The Federal Trade Commission recently settled with a cosmetics merchant that, it charged, had its own managers create fake accounts and direct employees to write good reviews on www.sephora.com.

Beyond that, many so-called social-media influencers also write reviews after receiving free products. Saoud Khalifah, who founded the service

Fakespot to help consumers avoid being influenced by fake and biased reviews, suggests looking beyond text reviews. Search for video reviews on YouTube; you can at least tell that the reviewer has used the product, though it’s not always easy to tell if they’ve been compensated.

Text reviews can still be helpful once you learn to spot unusual patterns, such as lots of five-star ratings in a short period of time.

If a service lets people rate reviews as helpful or not, look for reviews with an unusually high number of “helpful” votes.

Khalifah said merchants might try to game the system by artificially inflating favorable reviews as helpful so they show up more prominently.

Another warning sign: reviews that carry high or low ratings without offering many specifics.

Other patterns are harder to spot. A reviewer might have been banned from one service, but still write for others. Web sites and apps, such as Fakespot can help by flagging the same person’s reviews elsewhere and offering a revised rating.

DODGE FAKES JUST because you’re shopping on Amazon doesn’t mean you’re buying from Amazon. The online shopping giant, like eBay, Walmart and others, has vast third-party marketplaces where anyone can sell goods. The problem: That’s where fraudsters try to sneak in their brand-name counterfeits.

In a report last year, the US Government Accountability Office said 20 of the 47 items it bought from online stores with third-party marketplaces were counterfeit. It isn’t just about getting duped; phony products might be made with toxic chemicals or carry other risks. One safeguard is to research

whom you’re buying from. The “sold by” section will list the seller’s name. Look up its web site to see if there are negative reviews or if the site looks unprofessional. Blurry photos and misspellings are red flags. Others include sparse reviews or complaints about knockoffs. Be sure to compare the price to other sites. If it’s much lower, you may be looking at a phony.

COUPONS WITHOUT THE HUNT SAVE money by installing browser extensions from such companies as Honey, RetailMeNot and Wikibuy.

A button will show up on your Web browser. Click to automatically search for and paste in discount codes, such as ”CYBERDEAL” when you’re ready to check out.

The companies have other money-saving tools.

Honey, for example, lets you track products and will notify you when there’s a price drop at Amazon, Macy’s and other major stores. Your options are more limited on your phone. Browser extensions work only on traditional desktop and laptop computers.

PRODUCT PLACEMENTS AMAZON, eBay, Walmart and Macy’s are among the retailers that are stuffing their online stores with ads to make more money.

Companies big and small can bid to get their products near the top of a store’s search results. They look just like regular product listings, except for the word “Sponsored.” You might think that a product is showing up at the top because it’s somehow better.

Instead, sellers typically buy ads for their more expensive products or ones they have just launched to get the product in front of more shoppers and increase the likelihood of a sale, said Juozas Kaziukenas, the founder of Marketplace Pulse, a market research firm.

Before buying a product that was an ad, make sure

that it fits what you’re looking for and that there isn’t a cheaper option.

CREDIT-CARD SAFETY ONCE you’re ready to buy, don’t hand your credit or debit-card number to just anyone. Even if the merchant is legitimate, smaller businesses might not have the resources to keep up on security. That could leave your data exposed to hacking.

You can protect yourself by using credit cards when possible, as they offer better protections than debit cards. Federal law limits liability to $50 if your number gets stolen—and banks will often waive that entirely.

Though there has been a decline in fraud involving existing credit-card accounts, it still amounted to $6.5 billion last year, according to estimates from the advisory firm Javelin Strategy & Research.

Some banks let you create temporary numbers that can be set to expire once you make your purchase, preventing merchants from charging you again down the road. And, of course, if the number gets stolen, it won’t work.

Digital payment services, such as Apple Pay and Samsung Pay also automatically substitute your card number with a digital ID. But there aren’t that many merchants that accept them for online transactions.

You can also use PayPal to keep merchants from having your real card number. Instead, PayPal keeps the number and makes the payment on your behalf.

Be sure you’re paying a business directly, as you get some protections, including reimbursements when merchants ship damaged or counterfeit items.

If you’re making a cash transfer to pay an individual directly, you’re on the hook if something goes wrong. ■

A walk-through on how different generations communicate in today’s workplaces WORKPLACES today are likely to have up to five generations of employees working together, as “Traditionalists” pushback their retirement and Gen Zers start entering the labor force.

In fact, the Philippine Statistics Authority reported that of the 43.7 million Filipinos who are part of the work force as of January 2019, 4.7 percent are 65 years old and above, while 14.7 percent are 15 to 24 years old.

While generational diversity gives companies a wealth of perspectives, communicating across different age groups can be quite a challenge since each generation has its own set of habits and tendencies. To communicate effectively, it’s important for both bosses and employees to understand each generation’s unique communication style.

■ TRADITIONALISTS AND BABY BOOMERS VALUE FACE-TO-FACE INTERACTIONS. For these Traditionalists and baby boomers, getting a better grasp of a conversation involves taking note of nonverbal cues and body language. A Traditionalist or baby boomer colleague or client will ask to meet in person or call to clarify and get the accurate message right away—instead of making follow-throughs in an e-mail

chain. This is one of the reasons why they’ve embraced video calls since these have the benefits of both a face-to-face meeting and a phone call.

■ GEN X LIKES TO KEEP IT SHORT. Gen X coworkers usually send shorter messages simply because they want to get straight to the point. It’s also important to note that this generation’s early memories of communication involved not only face-toface interactions and phone calls, but also text messages with character limits. The pager which was popular in the 1980s and the first mobile phones of the late 1990s could only support a limited number of characters per text message— teaching users to be brief yet clear in crafting their messages.

■ MILLENNIALS HATE PHONE CALLS. Millennials find phone calls invasive and disruptive. Many of them also perceive calls as time-consuming and impractical, especially if the information relayed needs to be recorded or written down for future reference. Millennials grew up offline. Now that they’re fully integrated into the work force, they strive for work-life balance and crave for those times when they were unplugged from technology. Phone calls, which they find

inefficient, simply don’t help them achieve this. So before calling a millennial teammate, ask yourself: Can I send this as message? If yes, then compose one instead.

■ GEN Z LOOKS FOR THE HUMAN TOUCH. It’s expected that Gen Z workers who grew up in the age of faster Wi-Fi and stable mobile data connections would prefer exchanges to be more high-tech. But it turns out that these digital natives would appreciate more human interactions at work. Gen Z colleagues won’t mind meeting their bosses and coworkers in person. But when face-to-face interactions are not possible, they prefer getting a video call so they can articulate their thoughts and ideas more effectively.

Viber, one of the leading messaging apps in the world, is a great communication tool for all generations at work. It supports all their communication styles with its trendy chat features like audio and video calls, instant voice and video messages, plus expressive stickers, as well as its built-in end-to-end encryption that enables every user to express themselves and connect with anyone from any generation in the most secure way possible.

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Wednesday, December 18, 2019

FOUR of 39 huskies, recently rescued from a property northeast of Hamilton, Montana, checking out people as they walk by their kennel at the Bitter Root Humane Association in Hamilton. AP

Pet Corner BusinessMirror

Montana shelter caring for 39 huskies found roaming wild H

AMILTON, Montana—An animal shelter is caring for 39 huskies found on a property in western Montana.

Bitter Root Humane Association Operations Manager Cyra Saltzman said the dogs, including two litters of puppies, were rounded up the Monday before Thanksgiving on land northeast\ of Hamilton.

Saltzman told the Ravalli Republic some of the dogs are more socialized while others were wild. The shelter first learned of the huskies when a spay and neuter group called to report someone had dropped off a dog that needed its leg amputated because it appeared to have been shot. A second report came from a landowner reporting three dogs running free.

Eventually Saltzman and others found a property where a large number of huskies were running free.

Saltzman said she could not talk about the dogs’ former owner.

Ravalli and Missoula county authorities helped trap the adult dogs and gather up the puppies, including one litter that was only a week old.

The puppies are in foster care and are not yet available for adoption, Saltzman said.

Due to space constraints, the adult huskies are being housed outdoors and up to four in a kennel.

Saltzman said she has reached out to husky rescue organizations to see if they might be able to take some of the dogs.

The adults need to be spayed or neutered before they can be put up for adoption, Saltzman said, and the shelter does not have enough inside kennels for all the dogs to recover from surgery at the same time.

Some residents have been calling the shelter offering help and seeking to adopt dogs, Saltzman said. “These dogs are not going to be the easiest to adopt out,” Saltzman said. “They are not a dog that’s going to just sit up on the couch and cuddle with you.

If people are interested in adopting one, they need to

z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Christina Aguilera, 39; Katie Holmes, 41; Brad Pitt, 56; Steven Spielberg, 73.

Happy Birthday: Rethink each move you make.

Certainty will be necessary this year if you want to get ahead. Strategic decisions will help you position yourself for new beginnings, but first, tidy up whatever you’ve left dangling. This is a year of preparation, replacement and setting the stage for what’s to come.

Set a positive pattern, and repeat until you reach your goal. Your lucky numbers are 2, 8, 15, 21, 27, 34, 43.

a

ARIES (March 21-April 19): Consider what you can afford to spend before you open your wallet. A positive change can be made if you refuse to let outsiders cause uncertainty. Stay focused on what it is you want to do, and don’t venture off your chosen path. HHH

b

TAURUS (April 20-May 20): Open up about the way you feel, what you want to do and your intentions regarding money, lifestyle and love. Personal gains are within reach if you are strategic in the way you use your time and your skills. Romance is encouraged. HHHHH

c

GEMINI (May 21-June 20): Use your intelligence, and refuse to let anyone interfere with what you want to pursue. Listen to your conscience, not what others try to make you believe. Be direct, and act on facts, not assumptions. HH

d

CANCER (June 21-July 22): Put everything in perspective when dealing with personal and emotional matters. It’s essential to keep a clear head and focus on what’s important. Reach out to those you want to touch base with before the year comes to a close. HHHH

e

LEO (July 23-Aug. 22): Get out and enjoy some festive cheer with your peers. You are best to listen attentively and refrain from sharing too much personal information. Knowledge is power, and the insight you gain through observation will be priceless. HHH

take the time to do their research on the breed.”

Saltzman also cautioned that some need to become more comfortable around people.

In the meantime, the shelter could use dog food and additional volunteer help.

“It would be great to have people come in who are willing to sit in front of the kennels and just talk to the dogs,” she said. AP

Bayer Animal Health celebrates Bring Your Pets to Work Day IN line with its global advocacy to promote animal well-being, Bayer Animal Health (BAH) Philippines recently opened the doors of its Canlubang Office to pets. On its third year, Bayer’s Bring Your Pets to Work Day coincided with the World Animal Day this year.

Dogs, cats, love birds and even exotic animals, such as turtle and bearded dragon accompanied their pet parents to work. Attended by over 20 employees and pet parents, a pet blessing was conducted in celebration of the Feast of Saint Francis of Assisi, patron saint of animals.

In the afternoon, a wellness talk on pet nutrition and parasite protection was conducted. Dr. Marco Philip Ripoll, a pet nutrition consultant, explained to the attendees the importance of looking after proper diet and nutrition for pets. While Bayer resident veterinarians Dr. Felina Mata and Dr. Mark Kevin Badiola explained effective and efficient parasite protection through Bayer’s Advantix Spot-On. Pets were also given the ultimate pampering during the day through the free dog grooming station where Bayopet Herbal Shampoos were used for a lasting soft, smooth and healthy fur. Free onsite Advantix Spot-On were also given to ensure a monthlong parasite protection for dogs.

“Our passion for animals to ensure their health and well-being—so that they, too, can experience a good

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and happy lifetime—transcends everything. It is this bond we will share wherever we are,” said Corito Mendoza, country head for BAH Philippines.

BAH Philippines, along with its employees as animal well-being advocates, continuously upholds its lifetime commitment to passionately care for animals.

More information is available at www.bayer.com.

f

Araneta City launches new Pet Pal ID IN line with the company’s recent rebranding, Araneta City launched a brand-new Pet Pal ID that will allow pet owners to bring their pets into certain establishments in Araneta City, including Novotel Manila, Gateway Mall, Ali Mall and Farmer’s Plaza. This is part of the company’s ongoing initiative to be a pet-friendly hub complete with pet shops, pet leisure hubs and restaurants that allow guests to dine with their pet.

The ID was launched in Araneta City’s recent Pet Pal Pawrty event, a celebration that included a pet fashion show, and a talk on proper pet care and grooming during the holidays by the Asian Kennel Club Union of the Philippines.

To get the ID, simply submit the following to the mall concierges: original and photocopy of rabies vaccination record, 1×1 colored photos, and the Pet Pal application form to be given to you by the concierge.

VIRGO (Aug. 23-Sept. 22): How you handle others will determine how you end this year. Tie up loose ends, say what’s on your mind and reveal what you are intending to do moving forward. Listen to complaints and suggestions, and fine-tune your plans. HHH

g

LIBRA (Sept. 23-Oct. 22): Someone will take advantage of your vulnerability if you let your emotions take over. At the first sign of pressure, revert to pleasantries and light conversation. Take time to think matters through. If you act in haste, you’ll make a mistake. HHH

h

SCORPIO (Oct. 23-Nov. 21): Make plans with friends or relatives for upcoming events. Offer physical assistance to someone who takes on the brunt of the work, and see what you can do to help. HHHH

i j

SAGITTARIUS (Nov. 22-Dec. 21): Look at the possibilities, be realistic and choose your path. Get together with people who lift you up, not those who bring you down. A change at home will turn out better than anticipated. HH

CAPRICORN (Dec. 22-Jan. 19): Expand your knowledge, interests and relationships with others. Take time to listen and to be a part of the changes taking place in your own backyard. Unity will encourage greater strength and happy endings.

Romance is on the rise. HHHHH

k

AQUARIUS (Jan. 20-Feb. 18): Be observant, and you will realize that someone is not totally honest with you. Ask questions, be direct and don’t give in if you feel you are being taken advantage of by someone you thought you could trust. HHH

l

PISCES (Feb. 19-March 20): Look at the possibilities, and consider what you want to do moving forward. Don’t take what others say as gospel. Acting on false information will lead to disappointment. HHH Birthday Baby: You are entertaining, playful and intelligent.

You are outgoing and amicable.

‘delicious!’ by zhouqin burnikel The Universal Crossword/Edited by David Steinberg

ACROSS 1 Little troublemakers 5 Lure 10 Completely dominate 13 Viscous substance 14 French port city overlooking the Strait of Dover 15 The Joker, to Batman 16 Wait at a stop sign, say 17 The Metamorphosis author 19 Alternative to shoelaces 21 Candy with collectible dispensers 22 Furtive “Hey, you!”

23 Eighth Grade actress Fisher 24 Passport mark 26 Pop singer Mann 29 Left at the altar 33 Much-worshipped celebrity 36 Stressful hospital areas: Abbr.

37 Cyclops’ facial feature 38 “New York, New York” singer 40 Marsh heron 41 Political refugee, e.g.

42 Outlaw 43 Plays for a fool

44 Regard highly 45 Out-and-out 47 Bright night lights 49 Loses one’s cool 53 Short comedy sketch 56 X-___ vision 57 Historic Harlem theater 58 Pepys’ closing words 61 Osso buco meat 62 Tiny 63 Lion handlers 64 Pennsylvania city known for lakeeffect snow 65 Aquaman’s home 66 More guileful 67 Goes bad DOWN 1 “Enough already!”

2 Runway walker 3 Public opinion surveys 4 Some are detectives (see letters 9-6) 5 Road repair material 6 Slips by, as time 7 Olympia painter Edouard 8 Place to buy a slice (see letters 6-3)

9 “Shame on you!”

10 Trade-___ (com-promises) 11 Pans for making pot stickers 12 Shipshape 14 Corp. budget overseer 18 Triangular fruit pastry, or a hint to the starred answers’ indicated letters 20 Outdoor clothing chain 25 Floss flavor 27 Ordinary human being (see letters 7-4) 28 Noteworthy time span 30 Golf pegs 31 Jane in a Bronte novel 32 Lairs for bears 33 “Makes sense to me” 34 Lowers, like the lights 35 “I’m handling this” 39 Squirrel’s hangout 40 Cave mammal 42 Industrious person 46 Clairvoyant claim 48 Watts of Fair Game 50 Last Oldsmobile ever made 51 Cornrow, e.g.

52 Shoe bottoms 53 Toothy tools 54 Patella’s place 55 Brain product 57 Freemium game interruptions 59 Five-minute NBA periods 60 Make a mistake

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, December 18, 2019

blind spot bruce c.

NOT PERFECT AFTER ALL

SHE is beautiful and sexy, and has all the physical attributes of a star but, somehow, the starlet hasn’t made it big despite having had some breaks. Well, the starlet may be physically perfect, but she’s got some attitude problems. She is not a kind person, and that’s putting it kindly. She is difficult to work with.

Even her exes are all bitter about her. The thing about the starlet is that she has the face of an angel, but the character of someone who is not angelic. She talks down to the staff of establishments. She is rude to the crew of projects she is working on. While bigger stars are kind and considerate to those who are not as blessed as they are, the starlet acts the opposite.

A scene from the Zola advertisement that initially sparked controversy from one conservative group, prompting a backlash from the LGBTQ community. The Hallmark Channel says it will reinstate same-sex marriage commercials that it had pulled from the network. ZOLA VIA AP

In reversal, Hallmark will reinstate same-sex marriage ads

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By Jocelyn Noveck The Associated Press

EW YORK—The Hallmark Channel, reversing what it called a “wrong decision,” said Sunday it will reinstate commercials featuring same-sex couples that it had pulled following a complaint from a conservative group.

The earlier decision by Crown Media, Hallmark’s parent company, to pull several ads for the wedding planning site Zola featuring two brides kissing at the altar had launched a storm of protest. Celebrities like Ellen DeGeneres and William Shatner criticized the move and the hashtag #BoycottHallmarkChannel was trending on Twitter at one point.

“The Crown Media team has been agonizing over this decision as we’ve seen the hurt it has unintentionally caused,” said a statement issued Sunday evening by Hallmark Cards CEO Mike Perry. “Said simply, they believe this was the wrong decision.... We are truly sorry for the hurt and disappointment this has caused.”

Zola, the wedding planning site that made the ads, said it was relieved that the decision to pull them had been reversed. In an e-mail to The Associated Press, the company said it would be in touch with Hallmark “regarding a potential return to advertising.”

“We are humbled by everyone who showed support not only for Zola, but for all LGBTQ couples and families who express their love on their wedding

day, and every day,” said a statement Sunday evening from the company’s chief marketing officer Mike Chi. The controversy erupted during one of the Hallmark Channel’s busiest seasons, when its slate of holiday programming turns it into one of television’s most-watched networks. Between December 2 and 8, Hallmark was the No. 3 network in prime-time viewership, behind Fox News and ESPN. The LGBT advocacy group GLAAD also expressed relief at the reversal. Its president and CEO, Sarah Kate Ellis, said Hallmark’s “decision to correct its mistake sends an important message to LGBTQ people and represents a major loss for fringe organizations, like One Million Moms, whose sole purpose is to hurt families like mine.”

It was a complaint by One Million Moms, part of the American Family Association, that had led to the initial decision to pull the Zola ads. A post on the group’s web site Saturday said that Crown Media CEO Bill Abbott had spoken by telephone with the group and “reported the advertisement aired in error.” It also said: “The call to our office gave us the opportunity to confirm the Hallmark Channel will continue to be a safe and family-friendly network.” The group had not commented on the reversal as of late Sunday night.

Zola had submitted six ads, with four including a lesbian couple. After Hallmark pulled those ads, but two ads featuring only opposite-sex couples, Zola withdrew its remaining ads.

Molly Biwer, senior vice president for public affairs at Hallmark, said in an interview Sunday

THE network unveils the Walk of Fame led by GMA Chairman and CEO Atty. Felipe L. Gozon (fourth from right) with GMA entertainment stars and prominent on-camera personalities from GMA News and Public Affairs.

night that from the time the initial decision had been made, “Crown Media had been in agony over the hurt that this had caused. Hallmark has an unwavering commitment to diversity and inclusion.”

She added that the reversal, and not the original decision, “truly reflects who we are as a company. We celebrate all families.”

Hallmark’s statement said the network will be “working with GLAAD to better represent the LGBTQ community,” and would be reaching out to Zola to reestablish its partnership.

“Across our brand, we will continue to look for ways to be more inclusive and celebrate our differences,” Perry said.

In one of the pulled ads, two brides stand at the altar, and wonder aloud whether their wedding would be going more smoothly if they had used a planning site like Zola. The lighthearted ad ends with the justmarried couple sharing a quick kiss.

DeGeneres had quickly assailed the original decision, asking on Twitter: “Isn’t it almost 2020?”

Actress Sandra Bernhard, who played one of the first openly bisexual characters on network TV in Roseanne, had also criticized the move.

“All the groovy gay ladies I know won’t be watching your Christmas schlock,” she wrote on Twitter. The Hallmark decision was also mocked on Saturday Night Live, and Netflix US tweeted stills from a TV show and movie that it labeled “Titles Featuring Lesbians Joyfully Existing And Also It’s Christmas Can We Just Let People Love Who They Love.” n

Carmina Villarroel

Miguel Tanfelix

GMA unveils new batch of stars on Walk of Fame VARIOUS GMA personalities were honored with their own stars on the Walk of Fame, located at the walkway of GMA Network Studios on December 12. The Walk of Fame project, founded by the late Master Showman German “Kuya Germs” Moreno, is meant to celebrate GMA personalities who have greatly contributed in the fields of entertainment, and news and public affairs. The launch of the new batch in the Walk of Fame became an all-star spectacle graced by Carmina Villarroel, Aicelle Santos, Kris Bernal, Yasmien Kurdi, Bianca Umali, Miguel Tanfelix and Roi Vinzon.

Also present were GMA News and Public Affairs personalities Emil Sumangil, Lala Roque and JP Soriano.

Ai-Ai delas Alas, Gabby Concepcion, Megan Young, Iya Villania, Dion Ignacio, John Feir, Atom Araullo, Oscar Oida, Marisol Abdurahman and Rovilson Fernandez were also inducted with their respective stars.

GMA Network Chairman and Chief Executive Officer Atty. Felipe L. Gozon acknowledged the passion of the notable network personalities which proved how deserving they are of being recognized with their own stars. “Our Walk of Fame was introduced in March 2014. It was the idea of Kuya Germs with the help of John Nite para sa mga artista who have made their mark in show business. Ang purpose niyan kaya tayo

pumayag is to honor the Kapuso artists for their valuable contributions to the entertainment industry. Sa ngayon, there are already 196 Kapuso artists or stars from the fields of rntertainment, and news and public affairs who have their names already etched on the Walk of Fame. To be a Walk of Famer, the personalities should not only excel in his or her craft, but should also have a good public image. In short, wholesome. For this year, we are honoring 20 Kapuso artists who have excelled in their respective fields,” Gozon said.

He added: “The artists that we choose to put in the Walk of Fame are not just artists, they also touch the lives and inspire people. They report

the news, they work hard, they are parents and they have parents so they are children. They interact now with their fans. They are also professionals, and all of them are the best talents in the Philippines.”

Present during the launch and the media conference were Gozon, Senior Vice President for Entertainment Group Lilybeth G. Rasonable, SAVP for Alternative Productions Gigi Santiago-Lara, AVP for Talent Imaging and Marketing Simoun Ferrer, Senior Program Manager Mae Zambrano, GMA Artist Center Senior Talent Manager Tracy Garcia, and Walang Tulugan with the Master Showman cohost and Kuya Germs’s nephew John Nite.

NEW GIRLFRIEND

THE open relationship of the semi-retired actress and her rich partner became even more open. That is if news that the rich partner has found himself a new ladylove is true. The guy’s new love is also gorgeous and even feistier than the semi-retired actress, so we wonder how they are going about this.

Does she turn away when her longtime partner talks to his new girlfriend on the phone? Or does she get jealous? Well, if rumors are true of her already having half of her rich partner’s immense fortune, then she has no reason to be jealous or sulk. After all, she has a filthy rich boyfriend who adores her. If she is no longer in love with her longtime partner but they have to stay together, it is a minor inconvenience.

She is rich, beautiful, famous and loved. That’s all that matters to her. We are truthfully scared for the actress’s partner. We hope he knows what he’s gotten himself into—again.

SEPARATED AGAIN

SHE’S been married before, but the socialite and her former husband parted ways without having celebrated many anniversaries together. After a while, the socialite (who is also a semi-celebrity) found love again, and they got married and had kids. What is this we’ve heard that the socialite and her hubby have separated, at least for now? She no longer uses his surname in her social-media accounts and the last time she posted his picture was months ago. It’s not clear what caused the reported split, but the guy has told some friends that his wife is not easy to get along with. His friends say she has ways that are very different from his, and actually run contrary to his beliefs. Oh, well, as they say, “there is no forever.”

YOUNG LOVE

THE young actor gave up a working loveteam for the young actress, who he has loved for a long time. He lost a lot of projects and earned the displeasure of his network because he chose the love of his life, whom they consider a nobody, over fame and fortune. But for the young actor, it’s more than just attraction. He loves the young actress, yes, but it’s not just because she is beautiful (she is). He loves her because she is really his soul mate. He has been very vocal about her being so like him that they could be one person. He also tells friends that his girlfriend is amazing in such a way that she can be a girly girl one minute, and one of the boys in the next. We’re happy when people are in love.

We just hope these lovebirds won’t be pressured to give up their love by those they work with.

Oscar winner Colin Firth and wife split after 22 years LONDON—Oscar-winning British actor Colin Firth has split from his wife, Italian film producer Livia Giuggioli, after 22 years of marriage.

Their publicists said in a statement that the couple “maintain a close friendship and remain united in their love for their children.”

The pair, who lived together in London and Rome, have two sons, Luca and Matteo, who were both born in Rome.

A joint statement from their publicists confirmed the news Friday, and said they would not comment further. Firth, who won the best actor Oscar and a Golden Globe in 2011 for his portrayal of stuttering British monarch King George VI in The King’s Speech, also has a son with former partner Meg Tilly.

Giuggioli is an environmental activist, and cofounder and creative director of Eco-Age, a sustainable consultancy firm. AP

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Image BusinessMirror

Wednesday, December 18, 2019

www.businessmirror.com.ph

Going from potential to ready SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

O

NE of the advantages of being a leader is molding the next generation of leaders who can do what you do. Someone once said that the true test of leadership is when you can make yourself replaceable. Only then would you know that you did a good job of developing new leaders. And when people start telling you about how good people under you have become, it is the best compliment you can possibly receive as a leader.

Developing others benefits you in a lot of ways.

There is a popular saying in training which goes like this: “What if I train them and they leave?...What if I don’t and they stay?” The bottom line in developing people is the improvement in their performance and their engagement, not just for the work that they do, but for the whole organization. These benefits far outweigh the cost of developing them either through formal training or time spent in showing them a better way of doing things. You also prepare the next generation of leaders who can take the place of people who resign so the team does not become incapacitated when such occurs. A good development plan for employees also ensures that you attract the right people for the right job, because an excellent team develops excellent individuals and word will spread that if you want to become the best in your field, they should join your team.

But before you can start creating the development plan of people under you, you have to understand what their personal goals and motivations are. You do this by spending time with them and taking the time to talk to them about things other than work.

Knowing what motivates your team will help you understand what to do in crafting a development plan which will complement what they are passionate about. The more aligned their personal goals are with what is expected of their role, the more they will be invested in their own development plan.

After this, look at their job description and expected output, and work backwards from there.

Come up with a checklist of the required skills, tools, or processes that a role requires to deliver an expected output. These will help you objectively evaluate the skill set and competency levels of your team, and what is lacking can be the list of what they need to work on. If the team member ticks all the boxes, it is time for you to create a development plan based on what could be possible skills, processes, or tools they can use in the future, or even prepare them for a supervisory role. This will motivate your team member that a career path is available to them should they choose to take it, and will help curb attrition from lack of career opportunities.

Be cautious, though, of promoting people who have the potential but are not ready for a leadership role. Just because someone is exceptional at what they do, does not necessarily mean they will also do well as leaders. The skills required to manage people are not the same as the skills they have been using as an individual contributor. Potential is not the same as being ready. If team members are doing well in

I have heard of organizations claiming they have a culture of learning but their actuations say otherwise.

You cannot talk about a culture of learning when you laugh at your people during meetings when they do not understand, or if you do not have the patience to look at it from where they are coming from. It is not just about whether you are full of knowledge and wisdom; it is about knowing how to transfer what you know so others can understand the same way you do. their role, you need to understand if they want to pursue a leadership role. If not, the organization has to develop a program where they can remain individual contributors without having to sacrifice the financial remuneration of being in a leadership role. This means compensating them based on tenure, expertise and impact to the organization. This way, you retain the best talent for a specific role from which new team members can learn, either through shadowing the person or by formal training where the person becomes the subject matter expert. In any case, you align personal goals and objectives with the organization’s bottom line.

The development plan you have created for your

team members based on their personal goals and objectives with what is expected of them by the organization, has to be supported by a culture of learning within the organization. I have heard of organizations claiming they have a culture of learning but their actuations say otherwise. You cannot talk about a culture of learning when you laugh at your people during meetings when they do not understand, or if you do not have the patience to look at it from where they are coming from. It is not just about whether you are full of knowledge and wisdom; it is about knowing how to transfer what you know so others can understand the same way you do. In the end, it will help you communicate better because

your people have the same mind-set as you. And if your people are still guessing what you want them to do, maybe it is time to evaluate how you impart your vision as a leader. Because if your vision for the team is muddled, chances are the team will also be equivocal and their development plan will go awry.

An interesting study conducted by McCall, Eichinger and Lombardo at the Center of Creative Leadership concluded with the 70-20-10 principle for learning. According to them, you learn 70 percent of what you do in on-the-job training and doing as you learn, 20 percent from other people, and only 10 percent from formal training either through the classroom or online training. Recent studies have shown different percentage distributions but what is apparent is that people learn most from doing and social learning, than from formal training.

This means that organizations need to develop an enterprise culture where values are caught and not taught. Leadership inadvertently trickle down their values and priorities to people under them by the way they act, decide and treat other people in the organization. And whatever development plan you put in place for your team will be influenced by the prevailing mentality of the leaders.

But these should not stop you from creating a development plan for your team members. In fact, because people learn better when they do it, you can take advantage of this by helping them apply what they have learned after training by giving them stretch assignments, working with an expert or by closely working with them. For all you know, you could be the catalyst that will spark change in your organization. And when personal development goals interlace with the organization’s objectives, it becomes easier for team members to be motivated to go to work and give their best. ■

COMMEMORATING its 20 years in the industry are Beauty Bar’s exclusive curated gift sets.

Unwrap the holidays with Beauty Bar A FAVORITE one-stop shop for the latest and most effective personal-care essentials from all around the world, Beauty Bar (www.beautybar.com.ph) amps up the surprise and suspense of gift-giving with its 12 Days of Christmas promo.

For 12 days straight, Beauty Bar will be releasing a limitededition Holiday Mystery Box filled with all of your favorite goodies, including Korean skin care, fragrances, nail polishes, hair care and, of course, makeup from your favorite brands.

To participate, simply comment on Instagram what your favorite Beauty Bar product is and tag three of your closest beauty addict friends. Don’t forget to follow the official Instagram account of Beauty Bar (@beautybarph) and get an extra entry when you share on your Instagram stories.

After 24 hours, three winners for the day’s Holiday Mystery

Box will be announced. Beauty Bar makes it easier for you to do your last-minute Christmas shopping with its thoughtful and beautiful holiday sets. These must-have sets are the first exclusive designs of Beauty Bar, commemorating its 20 years in the industry. The well-rounded Yuletide collection brings together all your favorite picks in personal care, and offers a complete range of bath and shower necessities.

The range also has gift-set offerings for men and individual cosmetic essentials. Ditch the generic stocking stuffers and hoard these thoughtful and amazing gifts sets.

The holiday collection is also not limited to the Christmas season, as its packaging is suitable for year-round gifting.

The gift options include Beauty Bar’s Somerset gift set of bath and body products from the Somerset Toiletry Co., ensuring

days and nights of full relaxation. Its product offerings are diverse, from luxury hand creams and body lotions to scented candles and room diffusers. It also includes a range of cute and quirky soaps in animal shapes.

Inspired by the wonderful designs from a bygone era, the English Soap Co. delights beauty addicts with luxurious soaps remembered from childhood. Years were spent in perfecting the art of soap-making and perfumery to make the most luscious soap, one that is smooth and silky in texture, and moisturizes rather than dries the skin.

Another exciting and exclusive range of luxurious pure vegetable soaps and hand creams inspired by the fragrance and beauty of the plants at The Royal Botanical Gardens, is Kew in London. Its soaps are made in the heart of the English

countryside, using techniques that have remained unchanged for over a hundred years.

Celebrate the season with an array of otherworldly gifts.

The Smashbox Cosmic Celebration Holiday Collection 2019 makeup sets are ideal for creating cosmic-level beauty for the holidays and beyond. Miss Kay, an international perfume brand, is also launching a new limited-edition collection inspired by the magical glow of a wintry night sky. Aptly named “The Star Collection,” the set includes three exclusive scents designed to match your holiday mood: Shine Bright, Milky Way and Enchanted.

The collection is packaged in a festive and glittery holographic gift box, which is perfect to use as stocking stuffer or a delightful surprise to add under the tree.

BusinessMirror E1 | Wednesday, December 18, 2019 • Editor : Tet Andolong

Deck Pool

Citadines elevates Cebu hospitality scene

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By Roderick L. Abad

@rodrik_28

OOKING forward to your next long hiatus out of town? Why not celebrate Christmas and bid adieu to 2019 with a bang in the Queen City of the South, or greet the New Year or experience the jovial and colorful Sinulog Festival with a style?

Cebu is a fascinating destination that never fails to meet every tourist’s expectations. With its many offerings, from pristine beaches to verdant forests, rich dive areas, historical and religious sites, cultural spots, traditional festivities, and gastronomic hubs, options for “must-visit” places are a glut.

Providing a much-needed boost to its bustling tourism industry, of course, are the various types of accommodation suited to travelers’ budget.

Setting a new benchmark in the hotel industry here is Citadines Cebu City. This is the newest Apart’hotel property by leading international lodging owner-operator The Ascott Ltd. (Ascott), in partnership with homegrown developer Cebu Landmasters Inc. (CLI).

“Ascott Limited is thrilled to welcome guests into the newly opened Citadines Cebu City to elevate the Cebu experience. This is Ascott Limited’s first property among the four with Cebu Landmasters Inc. The strategic alliance will focus on properties in key cities in the Mindanao and Visayas regions—such as Cebu, Cagayan de Oro, Davao, Dumaguete and Iloilo,” said Daniel Wee, Ascott’s country general manager for the Philippines.

This 22-story serviced residence boasts of its top-notch accommodation units and amenities, as well as impeccable personalized services. In a nut shell, it marries world-class hotel operations with authentic warm Cebuano hospitality—exactly what business and leisure guests want from the Philippines’s fastest-growing economic hub.

Home away from home

TRUE to the brand’s youthful DNA, Citadines Cebu City is well thoughtout—stylish yet comfortable, making

every guest feel at home while in a hotel setting. It’s like the Armani Exchange of the hotel world as seen in its international contemporary interiors.

Interestingly, they’re mixed well with the local flavors.

Lending a luxurious appeal is its opulent design and select use of fine furniture pieces and embellishments.

The sunny coastal hues of blue, teal, orange, yellow and green are visually welcoming.

Here, functionality meets sustainability. Its efficient layout and careful space planning make the guests feel secured like in their comfort zones.

What makes it “green” is the utilization of environment-friendly and easy to maintain materials. Proof of which is the use of natural building materials, interlace of wood and metal strips, cane waves, stones, inlaid pieces of shell and even local weaves.

The interplay of highly controlled lights, ceilings that meet the walls, ornamental recess in walls and frames of latticework created by artisans exude a homey and relaxed atmosphere.

All these and other small details answer each of the specific needs of the guests, making them feel at ease and comfortable like the way they do at their own home.

World-class accommodation, topnotch amenities

UPON entering the hotel lobby, the hotel’s staff wear a big smile on their faces and greet the guests with a welcome drink. They may opt to laze on the comfy seats scattered around while waiting for their turn to check in, or simply leaf through the pages of well-curated reading materials like what they usually do in their house’s living room.

STUDIO queen

HOTEL lobby Drawing their attention is the reception area’s superb architecture accentuated with original creative masterpieces of Cebu’s famed artists in the likes of Kenneth Cobonpue, Bobby Lagdameo and Inky Livie.

A few moments after, they expect to be handed with the room keys. Designed to be functional yet cozy at the same time, Citadines Cebu City offers 180 serviced residences that are a mix of studio queen, studio twin and onebedroom suite.

Each unit boasts of its own serviced kitchen, wireless Internet access, and even a built-in-washer and dryer. Also, it offers concierge and housekeeping services, while a 24-hour reception and guest service team guarantees safety and security.

Top-tier amenities include a pool, a gym and a launderette. The property’s food and beverage partner is Abaca, one of Cebu’s premier food establishments. It also has conference and meeting facilities catered specifically to business travelers.

ABACA restaurant

Easy access to points of interest

STRATEGICALLY located within the Base Line Center, which houses numerous lifestyle conveniences, Citadines Cebu City is indeed accessible to various points of interest in and out of Midtown Cebu’s vicinity.

The hotel is a stone thrown away from famous tourist spots, such as Magellan’s Cross, Basilica del Santo Niño, Fort San Pedro, Casa Gorordo Museum, Fuente Osmeña Circle, the Taoist Temple and the Provincial Capitol.

For the foodie, several restaurants offering Cebu delicacies, including its world-renown lechon, are close by. Ascott’s hosts are always available to guide guests in planning their trips even in far destinations like the Oslob that is famous for its whale sharks or buy danggit and other native food items as pasalubong at Carbon Market.

“So everything is within reach.

That’s why it’s very convenient for our guests,” said Residence Manager Nanette Moreno.

STUDIO twin Ascott, a wholly owned subsidiary of real-estate firm CapitaLand Ltd., is a Singapore company that has grown to be one the leading accommodation owner-operators.

It has over 59,000 operating units

in key cities of the Americas, Asia Pacific, Europe, the Middle East and Africa, as well as about 42,000 units which are under development, making a total of more than 101,000 units in 680 properties.

Business

E2 Wednesday, December 18, 2019

Cesar Wee:

Forging partnerships, tapping mentors

Amor Maclang

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first dibs in real estate

VERYONE who’s anyone in the real-estate industry knows that for someone to make it in the property business, one should know the ins and outs of the industry and have the requisite smarts to deftly navigate them.

Then there are people, however, who believe that one should also have a considerable amount of luck to succeed in real estate.

“It’s better to be lucky than brilliant,” quipped CEO Gerry Choa of Property Co. of Friends, one of the country’s largest property companies, during the 10th year anniversary of Wee Community Developers (WeeComm) last year.

He followed this up with, “Cesar is lucky, very lucky.”

Gerry was referring to Cesar L. Wee Jr., president of Wee Community Developers Inc. and founding director of their family-owned holdings company, W Group Inc., one of the biggest commercial landlords in Bonifacio Global City.

In 11 short years, WeeComm led by Cesar, has amassed reserved sales of more than 4,700 residential units or P17 billion nationwide, peaking in 2018 and 2019 with P4.5 billion and P5.2 billion in sales, respectively.

A family of entrepreneurs

Cesar’s entrepreneurial parents are Ambassador Lee Hiong T. Wee—one of the pioneers of the booming seaweed industry—and esteemed philanthropist, Dr. Rosalind L. Wee—a Pearl Buck Woman of the Year awardee and a governor of the Philippine Red Cross.

Cesar was the fourth of six children. Growing up, he was quite rebellious and got himself into all sorts of scrapes. He managed to graduate from Xavier and was accepted into (and he even quipped

that he avoided getting kicked out of) my beloved alma mater—the Ateneo de Manila University.

After graduating in 1998, Cesar worked for their family’s newly formed real-estate company. Their first condominium project in Quezon City was a big disaster.

Cesar, being the head of sales and marketing and, without any prior experience at the time, could not sell units. Faulty planning was exacerbated by the then-brewing Asian economic crisis.

The project crashed, and it made sense for the family to blame “Black Sheep” Cesar for its failure.

Without any buyers to entertain, Cesar had a lot of time to mull over the project’s flaws and the ways to improve on it. He decided that he wanted to prove everyone wrong by developing property on his own.

And disprove them, he did.

Cesar considered it as pure luck when he landed a post in Pro-Friends after a meeting with Gerry Choa. Cesar left his family business to be one of Gerry’s mentees with the option to invest in the projects he would comanage.

Cesar started with Pro-Friends as everyone’s assistant so he would learn the ropes in every facet of the business. “People ordered me around all day. I spent hours talking to construction workers, distributing f lyers, and being scolded or cursed by brokers and homeowners whenever I made mistakes. Many times, I thought of giving up and crawling back to the family business, but my pride

The iconic W Fifth Avenue Building in Bonifacio Global City

The Centro Tower is a 25-story hotel and residential project located at N. Domingo Street, Quezon City

Today, WeeComm has already fully sold and completed six residential condominium buildings in San Juan and Quezon City, and has several ongoing condominium projects in Fairview and Mandaluyong.

WeeComm also has subdivision and condominium projects in Davao and Iloilo. In 2020, WeeComm will start new developments in CDO and Bacolod as it continues to stride forward in creating better developments throughout the country.

wouldn’t let me,” Cesar shared.

Eventually, Cesar rose from the ranks at Pro-Friends to become one of the chosen managing partners/project directors tasked to manage house and lot subdivisions. Cesar’s last project in ProFriends was their Cavite flagship township project, The Lancaster New City, which now spans over 2,000 hectares.

For a time, Cesar went back to his family’s business while concurrently working for Pro-Friends. At the time, Cesar was responsible for spearheading the Wee Family’s entry into developments in BGC. “I sold out our first project in six months.”

Cesar felt confident in leaving the family business again because he had Pro-Friends to fall back on, that is, until Gerry burst that bubble. Cesar remembers, “Gerry called me into his office one day, and I confidently assumed that he

was going to congratulate me on my project’s success. Instead, he fired me. Gerry said that he had taught me everything I needed to know to spread my own wings. I was floored and was caught completely off guard.”

He could not go back to working for his dad so he decided to start his own company. A week later, in 2008, Wee Community Developers Inc. was born with Cesar’s vision of creating small residential communities. He had found the perfect property in San Juan to start his business.

Overcoming birth pains

WeeComm’s birth pains were already quite a challenge for Cesar but he eventually navigated through all those and came out a winner in the long run. Several lucky breaks happened to Cesar since then but what he considers his most opportune and luckiest

The Baron Tower is a 30-story flagship residential project in Wilson Street, San Juan, designed by Budji Layug and Royal Pineda.

break came when Carson Choa joined the company in 2013.

“From the time we were ‘students’ in Pro-Friends way back in 2002, I knew that Carson would be the perfect business partner, the ‘missing piece,’ so to speak.”

Since the two have joined forces, WeeComm has doubled sales and projects every year peaking at 2019 with P5.1 billion in sales nationwide. “Each project is a curation of solutions that addresses the distinct needs of the market it serves,” explains Carson.

Today, WeeComm has already fully sold and completed six residential condominium buildings in San Juan and Quezon City, and has several ongoing condominium projects in Fairview and Mandaluyong. WeeComm also has subdivision and condominium projects in Davao and Iloilo. In 2020, WeeComm will start new developments in CDO and Bacolod as it continues to stride forward in creating better developments throughout the country.

Partners, mentors, friends

Forging partnerships is something that I have always believed in. We grow with partners who will not only help us with things outside of our own expertise, they teach us valuable lessons that apply to more than just our businesses.

And it is exactly by forging more partnerships that WeeComm grew in company size and portfolio.

The company further expanded through its mentorship program— the company’s pay-it-forward initiative that aims to teach the realestate development business to

young aspiring developers.

“We know we are training potential future competitors, but this is a prime opportunity to contribute to the betterment of the country’s real estate and economic land” said Cesar.

“I was lucky to have found a mentor who trained me well. It is only right to return this favor through others.” Cesar personally mentors 10 friends-turned-project directors/business partners in his company.

This spirit of partnership and mentorship is what moved Cesar to join The Final Pitch as one of its investor-judges.

For the show’s fifth season, Cesar joins an elite group of entrepreneurs who are looking to invest in new real -estate ventures. The other investor-judges in the show are Jet Yu, founder and managing director of Prime Philippines and a returning judge; Victor Consunji, CEO of Victor Consunji Development Corp.; Cary Lagdameo, first vice president of Davao-based Damosa Land Inc.; and George Royeca, chief transport advocate of pioneering app-based motorcycle-hailing service Angkas.

I am honored to be part of the show as well, but as a mentor who will guide the young finalists when they prepare their “final” pitches of the season which they will, in turn, present to the investorjudges who are looking to invest in the best proposal they can find.

The Final Pitch is produced by Streetpark Productions and airs every Sunday at 8 p.m., with replays every Monday at 9:30 p.m. and Saturdays at 1 p.m., on CNN Philippines. Do check it out.

LG brings the future to your home

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LGEPH Product Marketing Manager Cel Anolin (from left), LGEPH Home Appliances Brand Ambassadors Benjamin Alves, Cristalle Belo-Pitt, and Steph Zubiri-Crespi, LGEPH Vice President for Home Appliances Woo Young Jeon, LGEPH Home Appliances Brand Ambassadors Michael V, LJ Moreno-Alapag, Dani Barretto-Panlilio, Marco Gumabao and LGEHP Product Marketing Manager Jillian Yap

MART appliances have been in the market for a couple of years now, but have they truly lived up to their name? While TVs, speakers, refrigerators, and other home appliances offer a slew of connectivity options, they have to bring something new to the table, otherwise, it’s just more of the same. LG Philippines wants to let their products do the talking.

LG’s vision of a truly smart home is powered by its proprietary ThinQ AI technology. “LG ThinQ uses knowledge drawn from data analytics and machine-learning algorithms to understand the user’s patterns and preferences,” said Inkwun Heo, managing director for LG Philippines. “As it adapts and learns from the user’s behavior, LG ThinQ

products will ultimately evolve to anticipate the user’s needs and deliver heightened performance.”

All of LG’s newest products have been engineered with the future in mind. Each one is powered by the ThinQ AI technology so that the different home appliances can communicate with each other to actually offer an indispensable and genuinely helpful system. Artificial intelligence, however, is but just one feature.

Acting as the captain navigating the AI ship is LG’s SmartThinQ App. With the app, you can control all of your electronics and home appliances anytime, anywhere with just a touch of a button. With the widest assortment of Wi-fi enabled appliances and one app to manage

them all, LG makes managing your smart appliances easy. Thanks to the ThinQ AI technology, the more you use your smart appliances, the smarter they get by remembering usage habits to better anticipate your needs.

What exactly can the app do?

For starters, you can do your laundry while you’re stuck in a meeting. SmartThinQ technology lets you start and stop wash cycles remotely, get notifications when your laundry is done and receive helpful reminders about scheduled maintenance. In the peak of summer? Use the LG SmartThinQ app on your smartphone to turn on your air conditioner from anywhere, ensuring you arrive to a cool home.

sMirror

Editor: Tet Andolong

E3

Federal Land, the Philippines’s curator of Japanese homes

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APANESE innovations are setting a global standard across the realestate industry with modern technologies, as well as revered design and construction principles, that combine aesthetics and functionality.

Recognizing this, prime real-estate developer Federal Land Inc. continues to partner with top Japanese firms for its vast condominium and township developments, offering Filipinos highend Japanese-inspired homes and, at the same time, strengthening the Philippine-Japanese economic ties.

Fusing Japanese architecture and Filipino ingenuity, Federal Land Inc. first teamed up with integrated financial services group, Orix Corp. for over 10 years ago to bring The Grand Midori Makati to life. Carefully integrating nature in its design aspects, the 36-story property is a zen oasis quaintly tucked in Legazpi Village, allowing owners to come home to a serene and tranquil sanctuary.

Completed and turned over to residents in 2014, The Grand Midori Makati is now home to over 300 families.

Shortly after reshaping the Makati skyline, the same partnership brought about the tallest building in the Philippines— Grand Hyatt Manila. The five-star hotel promises iconic experiences with elegantly appointed guest rooms, luxurious amenities and rooftop restaurants that offer sweeping views of the Metro, among others. Directly accessible

to the hotel is the Grand Hyatt Manila Residences, Southeast Asia’s first and only branded residences with the Grand Hyatt distinction, is a two-tower residential development designed for hotel-like living. Both properties stand tall at Federal Land’s New York-inspired master-planned township, Grand Central Park.

Now rising in Grand Central Park is The Seasons Residences, made possible through the firstever collaboration between Japan’s top property developer, Nomura Real Estate Development Co., Ltd. and the globallyrenowned retail group, Isetan Mitsukoshi Holdings Ltd. Unique to the four-tower high-rise condominium is the highly anticipated Mitsukoshi Mall in the podium level. Mitsukoshi will provide the ultimate Japanese shopping experience through its carefully curated shops, homegrown brands and signature supermarket. Inspired

by the four seasons of Japan, The Seasons Residences is designed with utmost precision for the discerning homeowner who wishes to own a piece of Japan in Bonifacio Global City. Technology and functionality are two of the key elements of the development, with themed amenities, built-in space maximizing features and Japanese shower toilets in specific units.

Home

Fur t her ing Federa l L and ’s thrust to bring a piece of Japan in central business districts, The Grand Midori Ortigas will soon reshape the Ortigas skyline and is Federal Land’s first venture into the city. An elegant sequel to the Makati development, The Grand Midori Ortigas evokes a grand, yet refined, design. Designed by Tokyo-based architectural firm Tange Associates, the two-tower

development features the Japanese aesthetic ideals of wabi-sabi and miyabi that focuses on the discovery of beauty, elegance and refinement.

Understanding these partnerships and developments reflect Federal Land’s commitment to investing in the country and introducing global standards in the real-estate industry. It is a realization of the vision of the

late Dr. George SK. Ty, group chairman of the GT Capital Holdings conglomerate, who dreamt of building great homes for Filipinos. Federal Land’s Japanese collaborations follow Ty’s legacy in fostering successful FilipinoJapanese joint ventures w ith renowned companies, such as Toyota Motor Corp., Toyota Financial Services Corp., Mitsui & Co. Ltd. and Sumitomo Corp.

Bosch unveils ultimate push-and-go tool this Christmas

F Kohler offers faucets with artistic finish

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OHLER Co., a global leader in kitchen and bath products, brings its latest line of kitchen and bath faucets to the Philippine market with its Vibrant Ombré collection. A first in its kind, these faucets sport a finish with a metallic gradient hue for mixed-metal look that is sure to enhance the kitchen or bathroom.

Ombré—French for shadow or shade—is a coloring technique that delivers a sophisticated blended look. The technique has been incorporated into almost everything in fashion, from haute couture gowns to celebrity hairstyles. Now, Kohler gives ombré a home within the kitchen and bathroom space through its latest line of faucets.

The Vibrant Ombré finish is shaped using Kohler’s proprietary physical vapor deposition process, an innovative technique that melds two vibrant metal fin-

ishes together to render a subtle, but striking transition from light to dark.

The PVD process bonds the finish and faucet together at the molecular level to create an incredibly strong surface that is both scratch- and tarnish-resistant.

Kohler builds upon its legacy of crafting striking and beautiful finishes by using popular finish tones and, inspired by the worlds of fashion and modern design, creating a stunning showpiece that is unlike anything else on the market.

The Vibrant Ombré finish comes in two colorways—Vibrant Rose Gold to Vibrant Polished Nickel, and Vibrant Titanium to Vibrant Rose Gold—to create a unique mixedmetal aesthetic that is sure to be a focal point in any space.

“These statement faucets allow homeowners to embrace modern design trends without embarking on a complete renovation,” said Jonathan Kwong, Kohler Kitchen and Bath

Philippines country manager. “The subtle blend of metallic finishes seen in the Kohler Vibrant Ombré collection makes for a striking, yet sophisticated, piece that can be incorporated into a variety of design aesthetics.”

Recognized throughout its morethan 145-year history for its longstanding reputation of creating innovative, and bold, colors and finishes, Kohler boasts a plethora of striking finishes in its portfolio.

Some of Kohler’s most sought-after finishes are luminous options, such as Vibrant Polished Nickel, Vibrant Rose Gold and Vibrant Titanium; and visually soft options, such as Matte Black, Vibrant Brushed Nickel, Vibrant Brushed Bronze and Vibrant Moderne Brushed Gold. These exceptional finishes allow a striking avenue for the expression of personal taste within the home.

The Vibrant Ombré faucet collection can be ordered exclusively through Kohler’s distributors.

ILIPINOS can look forward to a merry Yuletide season as leading supplier of technology and services, Bosch, launches the all-new Bosch Go via Lazada and Shopee.

“We are excited to add the allnew Bosch Go to our existing line of power tools, accessories and measuring tools,” said William Go, country business director of Bosch Power Tools Philippines. “Fit for users who require a lot of screw driving in their projects, the allnew Bosch Go is a compact cordless tool which is a good addition to any power tool enthusiast’s collection.”

Push and go: Efficient and safe screwdriving at your fingertips

Screwdriving in large quantities and tight spots is now made easier with Bosch Go’s dual-activation mode. This feature gives users the flexibility to choose between manual and active screwing, wherein the latter is activated with the push of the device or with a press of a button.

Putting safety at the forefront, the all-new Bosch Go is equipped with an electronic brake that automatically stops when the tool is lifted off the surface or when the

button is pressed, eliminating the risk of damaging property and injuring oneself.

The latest edition of the Bosch Go also has a built-in mechanical clutch with five-torque settings, which allow users to control the screwdriver for delicate use on light materials and plastics, and to increase settings for higher performance when drilling into wood and other hard surfaces.

Get your go-to tool this Christmas sale

The all-new Bosch Go kit version, which includes a 33-piece screwdriver bit and a micro USB for charging, will be available on Lazada and Shopee via Bosch Power Tools by BGE starting De-

cember 12, 2019.

Lazada and Shopee’s 12.12 Big Christmas Sale are the biggest online Christmas sales in the country that feature deals up to 99-percent off. Users of the leading e-commerce platforms will be able to avail themselves of the new Bosch Go kit with the introductory price of P1,800 from December 12 to January 31, 2020.

Additional discounts during Flash Deals and discount vouchers are also available on both platforms. Bosch also offers other exciting promos on other power tools, measuring tools and accessories. www.bosch-pt.com.ph

Entrepreneur BusinessMirror

E4 Wednesday, December 18, 2019 • Editor: Vittorio V. Vitug

Business-minded OFWs, seafarers get entrepreneurship training

By Roderick L. Abad

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@rodrik_28

Contributor

TOTAL of 508 enterprising individuals, including overseas Filipino workers (OFWs) and seafarers, gained valuable insights on how to start their foray in whatever kind of business they are interested in from some of the country’s successful entrepreneurs during the 34th edition of the Mentor Me On Wheels (MMOW) held last week at the Music Hall of SM Mall of Asia in Pasay City.

“I know your dream is to come back home. Our role here as a mentor and as an entrepreneur is to make sure that the Philippines continues to grow as you do your work overseas and bring financial help to your family,” Presidential Adviser for Entrepreneurship and GoNegosyo Founder Joey Concepcion told the OFWs and seafarers, who joined the mentorship event. “Eventually, as you retire, we want you to come back and start your own business.

And I’m glad that many of you here are attending to be coached by many of our top entrepreneurs.”

The business consultant emphasized that both the public and private sectors are pursuing relentlessly the effort in giving them a chance to really come back home and be part of a shared economy.

“I know many of you will be going back to where you work. You might find an idea where you are working.

You might be able to bring that back to the Philippines and, again, fully start a business,” he said.

GoNegosyo’s mentorship program, together with the Department of Trade and Industry (DTI), honors the sacrifices of Filipino labors based abroad to elevate their economic status not only of their families, but the entire country, as well.

From April to September 2018, there were about 2.3 million OFWs, based on data from the Philippine Statistics Authority. Approximately, the remittance they sent home during the period aggregated to P235.9 billion, up from P205.2 billion the prior year.

Per The Economist, 378,000 of the 1.2 million seafarers globally this year are Filipinos. Around 250,000 of them are at sea at any given day.

Party-list group ACTS-OFW reported that the money they sent to the country amounted to $32.21 billion

Presidential Adviser for Entrepreneurship and GoNegosyo Founder Joey Concepcion led the 34th rollout of GoNegosyo and the Department of Trade and Industry’s Mentor Me On Wheels made special for overseas Filipino workers, seafarers and their family last December 12 at the Music Hall, SM Mall of Asia.

Along with him were Tessie Sy-Coson of SM Investments Corp.; Rosalind Wee of W Group of Cos.; Gerardo Borromeo of Philippine Transmarine Carriers Inc.; George Barcelon of Philippine Chamber of Commerce and Industry; Myrna Yao of Richprime Global; Henry Lim Bon Liong of SL Agritech Corp.; Rikki Dee of Foodee Global Concepts; Rey Lapid of R. Lapid’s Chicharon and Barbeque; Simon Heo of Parola Maritime Agency; Corp.; Pruds Garcia of Mekeni Food Corp.; Richie Cuna of Milkin’ Corp.; Renen and Celinda de Guia of Ovation Productions, among others. More than a thousand OFWs, as well as aspiring and existing entrepreneurs, participated in the program. GoNegosyo looks forward to a bountiful year of more mentorship in 2020.

in 2018, accounting for 19 percent of the total OFW remittances.

Since the MMOW started last year, Concepcion observed that they have been receiving interests from OFWs and seamen, together with their families, to venture in any business, even in small scale, but with growth potential to earn them additional source of income.

“I was talking to somebody who was working in a commercial liner, and he’s in charge of refrigeration there. So what he can do is he can use that skill and start up a shop here once he comes back home,” he told the BusinessMirror in a chance interview during the event.

Among the many entities to choose from, he emphasized, food is a good business to start with.

“But the business that we want

to push is that with a higher level of innovation. That’s why the online people are here, because we want the participants to understand how they can access the market and money through online platforms. So that’s one of our programs,” the GoNegosyo founder pointed out.

He, likewise, cited tourism and agriculture as ideal businesses that OFWs and seafarers can venture into.

“There was somebody here who came up with a flavored rice. I think that’s a great idea,” Concepcion said. “So you can see a number of people, as we go through the process, they’re upgrading more good products that may be better differentiators.” At the MMOW, participants availed a one-on-one free consultation sessions with around 100 distinguished entrep-mentors.

Entrep George Pua ends 2019 with big wins!

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ith a plethora of ventures and restaurants in his name, including Rico’s Lechon, Ogawa Traditional Japanese Restaurant, Thai BBQ, Modern China and more, 2019 might be the biggest year yet for George Nocom Pua. At the recently concluded 16th International Business Awards held in Vienna, Austria, Pua won the Entrepreneur of the Year (Gold). One of Stevie Awards programs, the International Business Awards is a global recognition that is given to premier businesses and working professionals worldwide. For Meat Concepts Corp. (owner of Rico’s Lechon brand), on the other hand, was awarded with: Company of the Year (Gold) and Campaign of the Year (Bronze). For bagging the most number of votes, Rico’s Lechon’s was also hailed as People’s Choice Awardee for Food and Beverage Category.

Another milestone for the entrepreneur is the recognition at the 10th Asia CEO Circle of Excellence Awards 2019. The Asia CEO Award is a prestigious award in recognition of an individual or organization’s significant contributions to the development of the Philippine economy. This award is another testament to Pua’s dedication and drive in helping the economy of the Philippines, one store at a time.

George NOCOM Pua at International Business Awards

Success stories of OFW-turnedentrepreneurs were also featured.

Different livelihood opportunities from key business players, including ride-hailing app providers Angkas and Grab, were also highlighted for interested attendees.

Since its inception in 2018, this mentoring program has gathered around 1,000 mentors nationwide to cater to around 15,000 mentees.

Along with the Mentor Me Online app, it aims to teach technical knowhows and practical entrepreneurship strategies to micro and small entrepreneurs.

This special leg was supported by the Overseas Workers Welfare Administration, Villar SIPAG Foundation, DTI, Parola Maritime Agency Corp. and Philippine Transmarine Carriers Inc.

www.businessmirror.com.ph

Entrepreneur revives Filipino weaving culture

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Filipina entrepreneur has launched a clothing line named after a Filipino warrior goddess Haliya from the Bicol region, in the hope of promoting local weaving products of the Philippines.

The clothing line, according to owner Sofia Loren Abdurajak, supports the weaving industry and promotes products from the Cordillera region and in Mindanao.

“Haliya Philippines is a clothing line which features clothes embedded with Cordilleran and Mindanaoan weaves, specifically we have the Yakan weaves from Mindanao and weaves from different indigenous tribes in Cordillera, such as Abra, Ifugao and many more,” she said, adding her team would like “to incorporate the Filipino textile to the modern fashion today.”

She said these clothes should not only be worn as costumes or attire during formal occasions, but Filipinos should also be proud of wearing this kind of clothes as casual wear on a daily basis.

Abdurajak was born and raised in Baguio City where she patterned the business after the Cordilleran weaves. As her husband is a native of Zamboanga, she considered the idea of collaborating with the Yakan weavers near Zamboanga areas for her project.

“I am getting textiles from them and do craft designs,” she shared.

Abdurajak said she wants to bolster Filipino ethnic textiles and raise awareness of the country’s rich cultures by incorporating weaving patterns in modern clothing.

“We need to revive the weaving industry in the Philippines to support the livelihood of the traditional weavers in the country,” she said.

While the products being sold are a little bit pricey, she feels happy when people appreciate the Haliya products, as she is already meeting her goal of reintroducing the unique local identity of the Filipinos.

“These are handcrafted from designs, colors and textures by the weavers,” she said.

Abdurajak said supporting locally weaved products and other Filipino craft promotes our unique customs.

She said it is one way of preserving the rich, colorful, and century-old Filipino traditions for the benefit of passing it to the young generation.

“I am encouraging everyone to pass the beauty of our Filipino way of life by supporting not only the Haliya PH, but also all of our local Filipino products,” she said.

The weaving culture, she said, has the power to unite people as strong, resilient communities bound by living tradition and colorful textile patterns and motifs.

Haliya PH joined the three-day gift-giving edition trade fair of the Manila Partisan at the Ground Floor of Glorietta 2, Ayala Center, Makati City from December 3 to 5. PNA

FRANCHISE YOUR BUSINESS

Some 86 business owners representing 48 companies in Pampanga, Bulacan, Nueva Ecija and other key cities in Central Luzon joined “Franchise Your Business” seminar held recently at the Marriott Hotel in Clark. Participants were guided into the essentials of franchising, ushering them into thorough understanding and know-how of the trade with topics discussed: like “Overview of Franchising in the Philippines”

by Chief Executive Officer Dr. Alegria “Bing” Sibal-Limjoco, CFE; “Franchise Advantage” by Vice President for Consultancy-Operations Joselito Samson, CFE; and “Franchise Process” by Managing Director Noel Siggaoat, CFE. During the seminar, participants learned the latest industry trends, helpful tips from the biggest names in franchising today including evolving industry practices systems and product innovations crucial to keeping businesses moving forward. As franchising becomes a smarter choice for business expansion, Francorp wants to guide start-up business owners on beginning smartly as a game-changing advantage in franchising business and how to sustain it and, eventually, make the brand/concept successful. The next franchise seminars are scheduled on January 8, 2020, at the Ortigas Center and February 5, 2020, in Taguig City. A globally leading franchise development and consulting firm, Francorp’s reputation is built on years of solid experience and industry expertise. To date, Francorp has helped develop over 3,000 franchise businesses and assisted more than 10,000 companies worldwide in their franchise.

Francorp is continuously conducting franchising seminars all over the country in line with its thrust of helping businesses grow. For more seminar information, contact Francorp at 8638-3149 to 50/8910-6544 to 45/0920-9610810 (Smart)/0917-8355530 (Globe), or e-mail franchising@francorp.com.ph.

7-ELEVEN OPENS TWO NEW STORES IN TACLOBAN World-leading convenience store

chain 7-Eleven recently opened two new outlets in Tacloban as part of its aggressive expansion program in Eastern Visayas. The new outlets, located in Real and San Jose (in photo), will introduce 7-Eleven’s wide array of products (both proprietary and popular grab-and-go brands) to the Taclobanons. The Real outlet, which is situated along national highway going to Palo, will cater to customers coming from nearby residential area, a Catholic school and a mall which is currently being constructed. The San Jose store, meanwhile, which is located near Tacloban Airport will serve the transit cluster. The two new outlets now bring the total number of 7-Eleven branches in Eastern Visayas to six. 7-Eleven still targets to open five more stores by next year to be located in Leyte, Southern Leyte, Biliran, Samar, Northern and Eastern Samar. Now with a total of 2,765 stores nationwide, 7-Eleven remains the top convenience store chain in the country. 7-Eleven offers budding entrepreneurs flexible franchise opportunities that include applying for a Regular New Store Franchise (open a new 7-Eleven store) or through Property Conversion (convert an established business or properties into a 7-Eleven franchise). For more details on 7-Eleven’s franchise opportunity offerings, call 0917-9935059 and 0935-3236431(Visayas), or e-mail franchising@7-eleven.com.ph or visit www.7-eleven.com.ph.