BusinessMirror February 11, 2020 by BusinessMirror

PHL EYED AS FINTECH START-UPS’ HUB By Elijah Felice E. Rosales

@alyasjah

BUSINESSMIRROR FILE PHOTO

HE government is eyeing to turn the Philippines into an incubation hub for financial technology (fintech) start-ups, as the country tries to catch up with its regional neighbors on innovation and new solutions. At the media launch of the Philippine Fintech Festival 2020 on Monday, Trade Undersecretary Rafaelita M. Aldaba said it is important for the country to implement its industrial policy to be able to catch up with regional neighbors. She said the inclusion of start-ups will ensure the

Philippines can cushion the impact of the Fourth Industrial Revolution and the trade war. “With more than 500 start-ups valued at $378 million, the Philippine start-up ecosystem is young but full of potential and embedded capabilities,” Aldaba said in a speech. “Fintech is growing steadily in the Philippines. Our start-up database shows 136 fintech companies, which make up 26 percent of the country’s total start-ups,” she added. According to Aldaba, most of the fintech firms—around 29 percent— in the Philippines are in the business of alternative financing, while 22 percent are in payments, 19 percent

Tuesday, February 11, 2020 Vol. 15 No. 124

BSP signals see investors flocking to bond market ₧310.8B A By Bernadette D. Nicolas

@BNicolasBM

FTER monetary authorities’ confidence-building move amid economic headwinds, the Bureau of the Treasury (BTr) fully awarded P20 billion worth of Treasury bills (T-bills), with all tenors fetching lower average auction rates than the previous auction and secondary market rates.

Deputy Treasurer Erwin Sta. Ana told reporters on Monday that aside from the rate cut last week, the lower average auction rates were driven by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno’s

announcement of a further cut in the middle of the year. But Sta. Ana said these were expected. In a paper, JP Morgan’s Asia Pacific Economic Research unit said it is also “penciling in” “addi-

tional monetary-policy easing” in the Philippines by 25 basis points in the first half of the year. This, the unit said, follows the monetary easing in China and Thailand on the heels of the 2019 novel

The record-high amount raised by the Treasury from last week’s retail Treasury bond (RTB), its biggest issuance so far

coronavirus outbreak. Sta. Ana said that the reduction in rates was also prompted with a “quite manageable” inflation. The auction was oversubscribed with total bids reaching P56.3 billion, nearly thrice the P20 billion on offer. The average auction rate for the 91-day T-bills worth P6 billion on offer was capped at 3.115 percent. See “Bond market,” A2

Oil firms cut pump prices anew

See “Fintech,” A8

P25.00 nationwide | 4 sections 34 pages |

Filipinos still aching to vacay abroad, despite nCoV fears By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

RAVEL agencies are counting on Filipinos to continue taking their holidays and vacations abroad, despite the growing number of novel coronavirus (nCoV) cases in other countries outside of China. In an interview with the BusinessMirror, Philippine Travel Agencies Association (PTAA) President Ritchie Tuaño said, “I remain positive that travelers will still go to destinations that are unaffected or destinations that have contained the spread of the nCoV.” Last weekend, the PTAA held its 27th Travel Tour Expo at the SMX Convention Center, with 415 exhibitors, 25 more than the exhibitors in 2018. Only two exhibitors backed out this year—the China National

Tourism Office and China Eastern Airlines, “which is understandable,” said Tuaño. Beijing has suspended outbound travels by its citizens, in a bid to contain the spread of nCoV outside China. It has also locked down on travels in and out of Hubei province, where Wuhan City, ground zero for the virus, is located. According to the web site The Wuhan Virus, as of February 10, there are 40,614 infected cases, 910 deaths, and 28 countries affected including the Philippines. Most of the infections and deaths are in China. At last weekend’s expo, there were fewer visitors, admitted Tuaño. “In comparison to previous years, foot traffic for the first two days of the expo 2020 was noticeably lower. We attribute this to the current issue of the [novel] coronavirus,” he said. See “Vacay,” A2

Solons hit OSG’s quo warranto filing before ABS-CBN hearings By Jovee Marie N. dela Cruz

By Lenie Lectura

@joveemarie

& Joel R. San Juan

@llectura

IL firms on Monday have announced a reduction in the prices of diesel and kerosene for the fifth consecutive week and gasoline for the fourth consecutive week. Phoenix Petroleum took the lead when it implemented last February 8 a P0.60-per-liter cut in the price of diesel and P0.30-per-liter reduction in the price of gasoline. Pilipinas Shell, Seaoil Philippines, Total Philippines, Unioil, Petro Gazz will implement the same price reduction at 6 a.m. of February 11. Aside from diesel and gasoline prices, there will also be a P1.40-perliter price rollback for kerosene. The total price cuts from January 14 to date are as follows: diesel, P4.30 per liter; kerosene, P4.75 per liter; and gasoline, P2.75 per liter. Last week, gasoline prices were reduced by P1.60 per liter, diesel by P2 per liter and kerosene by P2.45 per liter. The price adjustment reflects movements in the world oil market. Bloomberg reported on Monday that crude has tumbled as the 2019 novel coronavirus wreaked havoc on the economy of the world’s biggest oil importer, with Chinese refineries cutting the amount they’re processing by around 15 percent. Oil prices could come under further pressure if talks aimed at ending the conflict in Libya, where a blockade of ports has pushed production to the lowest level since 2011, lead to a restoration of output.

in blockchain and the rest are scattered in insurance technology, remittances, comparison portal, investment, credit grading, crowdfunding, among others. Citing the 2019 Genome report, Aldaba said the Philippine fintech sector had a transaction value of roughly $5.7 billion in 2018, and is expected to hit $10.5 billion by 2022. Many fintech firms in the Philippines, she added, are securing supply chain financing for the expansion of their operations. As such, the trade official said the government is doing everything in its power to create a more conducive

@jrsanjuan1573

AWM AK ERS on Monday reminded the Office of the Solicitor General (OSG) that Congress has the sole power to renew or revoke the franchise of ABS-CBN Corp., saying the filing of a quo warranto petition against the franchise of the network is a constitutional encroachment on the exclusive power of Congress.

Three committee chairmen— Rufus Rodriguez on Constitutional Amendments, Joey Sarte Salceda on Ways and Means, and Sol Aragones on Tourism—said Congress is mandated to determine whether to approve legislative franchises and should be given the opportunity to do so in the case of ABS-CBN. Hearings were expected to be held any time soon in Congress, as the media giant’s franchise expires on March 30. See “ABS-CBN,” A2

The value of revisiting the VFA A station attendant fills up a vehicle in Makati City. Oil firms announced on Monday a reduction in the prices of gasoline for the fourth consecutive week, and for diesel and kerosene for the fifth consecutive week. NONIE REYES

PESO exchange rates n

Tobacco floor prices higher by P2/kg starting this year By Jasper Emmanuel Y. Arcalas @jearcalas

OBACCO leaf buyers, users and farmers have reached a compromise to raise floor prices by P2 per kilogram (kg) across all types and grades for trading years 2020-2021, according to the National Tobacco Administration (NTA). The NTA, an attached agency of

the Department of Agriculture, said tobacco planters and private industry stakeholders finalized the agreement in a signing ceremony last January 29 after months of stalled talks between the parties. “The agreement which adjusted floor prices of Virginia, Burley and native tobacco will be effective immediately upon the approval of NTA Governing Board and the

required publication, and applicable for trading years 2020 and 2021,” it said. “The floor prices per kg for Virginia top grades increased to P84 for Grade AA and P83 for Grade A. For Burley, the top grades A and B increased to P72 and P69, respectively. The high grade of the native type is now P73 per kilogram,” the NTA added.

Teddy Locsin Jr.

free fire Opening remarks of Foreign Affairs Secretary Teodoro L. Locsin Jr. at the Senate Committee on Foreign Affairs’ hearing on the Visiting Forces Agreement last February 6, 2020.

en. Aquilino Pimentel III, Mr. Chairman, Senate President; Senator Drilon; Senators Poe and Tolentino; members of the Senate Committee on Foreign Relations; colleagues in government service; friends; good morning. Continued on A7

See “Tobacco,” A2

US 50.7830 n japan 0.4630 n UK 65.4593 n HK 6.5394 n CHINA 7.2537 n singapore 36.5214 n australia 33.8621 n EU 55.5972 n SAUDI ARABIA 13.5385

Source: BSP (10 February 2020)

News

BusinessMirror

A2 Tuesday, February 11, 2020

www.businessmirror.com.ph

Jan-Nov FDI inflows down by nearly 30%

HE Bangko Sentral ng Pilipinas (BSP) reported on Monday that the foreign direct investment (FDI) figures in January to November 2019 remained in the red despite the uptick recorded in November. FDI that flowed into the Philippines hit $6.41 billion in the 11-month period in 2019, down by an annualized rate of 29.9 percent.

FDI are the type of investments that are often more coveted as these stay longer in the economy and create job opportunities for locals.

The BSP said concerns over the outlook on global economy curbed the flow of FDI into the Philippines. Broken down, nonresidents’ net investments in debt instruments declined by 25.2 percent to $4.7 billion. Likewise, net equity capital investments contracted by 60.4 percent to $845 million. Equity capital placements during the 11-month period emanated largely from Japan, the United States, Singapore, China and South

Korea. These capital infusions were invested primarily in financial and insurance, real-estate and manufacturing industries. The BSP also said reinvestment of earnings reached $913 million, up by 14.4 percent from the $798 million registered in same period in 2018. For the month of November alone, BSP data showed that FDI to the Philippines rose by 14.6 percent to $623 million, from $543 million net inflows recorded in

Pinoys covered by travel ban seen to climb

HE number of Filipinos barred from going abroad due to the prevailing travel ban to China, Macau and Hong Kong over the 2019 novel coronavirus (2019-nCoV) is expected to climb to 10,000, according to the Department of Labor and Employment (DOLE). The projection comes ahead of the Department of Health’s (DOH) announcement on Monday that the travel ban will now also cover Taiwan. As of Friday, Labor Secretary Silvestre H. Bello III said the number of overseas Filipino workers (OFWs) affected by the ban already reached 3,500. These OFWs availed of the P10,000 cash aid from the Overseas Workers Welfare Administration (OWWA) for those affected by the travel ban. “But it is growing everyday. So

Vacay. . .

Continued from A1

“However, with the same consideration, the number of visitors that actually came was way above our expectation,” he stressed. “We anticipated very low turnout due to the fear of some people in going out and in places that are crowded.” The most popular destinations this year, he added, continued to be Japan and Korea. Among local destinations, these were Boracay, Siargao, El Nido, and Palawan. According to Statista, there were 3.4 million Filipinos who traveled abroad in 2016, up 21.4

it could reach as high as 10,000 to 15,000,” Bello said during a media briefing in Malacañang on Monday.

Still no displacement The ban took effect last week and applies to non-Filipinos travelers coming from China, Macau and Hong Kong going to the Philippines, as well as Filipinos heading to these areas. DOLE earlier said the travel ban will last for two weeks to give the government enough time to assess if the spread of the 2019-nCoV in these places has abated enough to allow for the lifting of the ban. Despite the growing number of affected OFWs, Bello said none have lost their jobs abroad. “There is no basis yet to say that the employment of these returning OFWs has been affected because we got verified information from

percent from 7.8 million in 2013. The statistics web site also projected Filipinos’ outbound travel to reach 4.3 million in 2021. Outbound tourism expenditure also rose by some 53 percent to $12 billion in 2018 from $7.8 billion in 2013, as per data from the World Tourism Organization.

DOT chief sees rebound

Meanwhile, at the expo’s launch on Friday, Tourism Secretary Bernadette Romulo Puyat expressed optimism the local tourism industry would rebound from the setbacks brought on by the recent Taal Volcano eruption and nCoV outbreak. In her speech, she underscored the

VFA. . .

Continued from A8

The VFA ensures operability of other Philippines-US defense agreements and modalities of cooperation, and allows the US to provide a total package approach on defense articles that would be compatible with equipment, assets and systems alreadty in place, he added. In the same interview, Sotto confirmed he “just had a dialogue” with Executive Secretary Salvador Medialdea, and the latter “told me that President Duterte is listening to all sides, he is consulting everyone.” Sotto was asked to comment on Presidential Spokesman Salvador Panelo’s remarks at the weekend that Duterte told Medialdea to order Foreign Affairs Secretary Teodoro L. Locsin Jr. to immediately send a formal notice of termination to Washington. From the senators’ end, Sotto said their main point is that it is not advisable to recklessly terminate the VFA “because it is the anchor of Edca and the MDT,” referring to the Enhanced Defense Cooperation Agreement and the 1951 Mutual Defense Treaty between the Philippines and the US. The Senate leader added that “the substance of the VFA” underlies the comprehensive defense-military cooperation between the US and Philippines, spanning not just joint training and exercises in combat but also civil-humanitarian work especially in disaster response, and in fighting terrorism. “The interoperability and modalities of cooperation are anchored on the VFA,” Sotto stressed. He pointed out that “there are about 300 joint activities and events [under VFA’s aegis] just for this year” to underscore how VFA is inextricably tied to all aspects of defense-military cooperation and to Edca and MDT. There may be certain other provisions of VFA that need to be changed, the Senate leader said, suggesting that “we should just pitch that [revision] to the other side.” Asked if Medialdea gave an indication that there was already a formal order from the President given to Locsin to send the notice of termination to the US government, Sotto replied in Filipino, “Bingbong did not say anything like that the last time we spoke.” Sotto said he was moving to have Majority Leader Miguel Zubiri quickly farm out the document on the Senate resolution, for which they (Sotto, Drilon and Lacson) were unable to get more signatures earlier, but endorsed posthaste to Sen. Aquilino ‘Koko’ Pimentel III (Foreign Relations Committee chairman), so he could conduct the hearing.

our labor attaché in Hong Kong that the employers of our overseas workers there granted an extension of vacation of our OFWs. So as to a possible unemployment, there is none,” Bello said. Hong Kong, Macau and Taiwan are top destinations for OFWs. Based on DOLE’s 2017 figures, Hong Kong has about 201,387 OFWs; Macau has about 28,293; and Taiwan has about 144,947.

Repatriation efforts During the Palace briefing, officials also give updates on the repatriation of 32 Filipinos from the City of Wuhan in China, where the 2019-nCoV is said to have originated. Foreign Affairs Undersecretary Ernesto Abella said initially there were 56 people, who requested to be brought home from Wuhan, but

Department of Tourism (DOT) has been stepping up its promotions abroad, “creating more content, forging new p a r t n e r s h i p s a n d d e ve l o p i n g m o re platforms to match the increasing demands of digital evolution. Especially now where one of our key markets are affected, we’ve put an added focus in opportunity and emerging markets in the West, while also tapping low hanging fruits such as our Asean neighbors.” At present, the DOT’s “Sun and Beach” ad is playing in international channels to attract markets still experiencing the height of winter. The DOT is also encouraging locals to

Recto, Go, Gordon weigh in

In a separate statement, Senate President Pro Tempore Ralph Recto voiced hopes that “the VFA will not be scrapped for now.” Recto cautioned that the VFA, “if abrogated, will also have budgetary repercussions.” Senator Emmanuel Pacquiao also supports a review and not outright termination of the VFA, citing the country’s crucial security support from the US in a radio interview. Earlier, Go affirmed over the weekend he “supports and respects the decision of the President to terminate the VFA with the US.” In a radio interview on DWIZ 882’s Usapang Senado, Go said, “I respect whatever our President will decide, For my part, as a senator, if the [termination] process has to go through us as provided by law, we will take it up,” Go said in Filipino. Go added, however, that if the law allows for it to be terminated directly for a “valid reason as Chief Executive and as President of the Philippines,” he will also respect that. He added, “The President, after all, is the chief architect of our foreign policy.” The neophyte administration senator said he will “also welcome the decision if the President reconsiders his position,” saying, in Filipino, “what’s important here is to make America understand that they cannot meddle in our internal affairs.” He noted that the US has not given any explanation so far on its decision to cancel Senator de la Rosa’s visa, but many believe it is related to US Senate Resolution 142 on January 9, giving the US executive branch the power to impose visa and travel restrictions on alleged human-rights violators anywhere in the world. Senator Richard J. Gordon said Duterte, as architect of foreign policy, has the power to enter into international agreements like the VFA, but pointed out that the reasons for withdrawal from such an agreement must be made clear to the public since it affects national security. Hence, Gordon said the Senate, as representatives of the people, should speak up to find out the reason behind and the safety nets or measures that will be set in place to minimize the fallout from termination of the VFA. “Whether or not he cancels, we have to discuss it, we have to educate our people so they will know what’s going on.... The Senate should speak up, as representatives of the people, to find out what is the reason. People ought to know, are we being put in a harm’s way, are our troops being put in a harm’s way?” he added. Gordon also stressed that the national interest should be the only consideration when entering into or withdrawing from international treaties or agreements.

some were unable to go with the schedule flight home due to “various reasons.” Upon their arrival at the Clark International Airport, they were brought to the Athletes’ Village in New Clark City in the province of Tarlac to undergo the 14-day quarantine period. This despite the initial opposition of the local government unit (LGU) of Capas, Tarlac, from the use of the New Clark City, which is under the jurisdiction of the Bases Conversion and Development Authority (BCDA), to become a quarantine facility. Interior Undersecretary and Local Government spokesman Jonathan Malaya said the LGU of Capas later withdrew its objection after the national government gave assurances that precautions were put in place in the facility.

visit other destinations in the country, and has already prepared several ads promoting for instance, Eastern Visayas and Batanes. “Together with you, our invaluable partners in the private sector, let’s make travelers out of our fellow Filipinos and inspire them to explore places they’ve never been to so they can appreciate the many wonders we’ve had all along,” she added. Local tourism establishments and airlines are cutting their rates for the domestic market to cushion the impact of the nCoV outbreak on their respective industries. (See, “Airlines, hotels cut rates to boost domestic travel amid nCoV crisis,” in the BusinessMirror, February 10, 2020.)

Tobacco. . .

Continued from A1

The agreement was signed by NTA Administrator Robert L. Seares, Philippine Tobacco Institute President Rodolfo F. Salanga, and farmer-leader Bernard Vicente of the National Federation of Tobacco Growers Association and Cooperatives. The forging of an agreement on hiking floor prices was delayed as talks were stalled since the September tripartite meeting between users and producers. Leaf buyers and manufacturers were lukewarm to the producers’ initial proposal of a maximum P10 per kg increase in floor prices. Tobacco planters argued that the increase would cover the hike in production costs, particularly expensive inputs, such as fertilizer and rising labor costs. The BusinessMirror learned that the private sector offered to maintain the status quo, and then later on offered to hike prices by P1 per kg, which was declined by farmers. The private sector wanted to retain the status quo, or only a minimal increase in floor prices, as the hike in excise taxes caused the sales of cigarettes to decline. Talks resumed in the latter part of 2019 and eventually led to a compromise of an increase of P2 across all types and grades. The NTA conducts a tripartite conference every two years, when new tobacco prices are decided upon. The conference serves as a venue for tobacco farmers and tobacco companies (cigarette manufacturers, tobacco dealers and exporters) to evaluate and negotiate the floor prices of unprocessed tobacco leaves.

5 virus-hit. . .

Continued from A8

The Department of Health (DOH) on Monday reported that the 38-year-old Chinese woman who was recorded as the country’s first confirmed case of the 2019-nCoV, has been discharged from the San Lazaro Hospital in Manila. The information was relayed to media by Health Undersecretary Eric Domingo in a briefing on Monday.

Taiwan included

Domingo said the Philippines has included Taiwan in the travel ban since last week. The health official explained that per the World Health Organization (WHO), Taiwan is considered a part of China. “Since we have a temporary travel restriction and ban on China, then Taiwan is included,” he said, explaining that Taiwan is included in China in the WHO map and that the restrictions only apply to incoming foreign travelers, and not Filipino citizens and holders of permanent resident-visas issued by the Philippines. Recto L. Mercene and Claudeth Mocon-Ciriaco

November 2018. This was due mainly to the increases posted in all FDI components. In particular, net investments in debt instruments —consisting mainly of intercompany borrowing/lending between foreign direct investors and their subsidiaries/affiliates in the Philippines—recorded net inflows of $380 million, higher than the previous year’s $341 million. Similarly, net investments in equity capital grew by 12.9 percent as

ABS-CBN. . . Continued from A1

Lawmakers reacted after the OSG filed a quo warranto petition on Monday morning asking the Supreme Court to revoke ABS-CBN’s franchise for allegedly violating the terms set by Congress when it approved the media giant’s franchise in 1995. Rodriguez, Salceda and Aragones are authors of the bill seeking to renew the franchise of the TV giant. “The filing by the solicitor general of the quo warranto against ABS-CBN is an unconstitutional encroachment of the exclusive power of Congress to grant franchises, subject to amendment, alteration or repeal also by Congress when the common good so requires [Section 11, Article 12 of the Constitution],” Rodriguez said. The petition, he said, also violates the separation of powers among the three coequal branches of government—the Executive department, the Legislature and the Judiciary. “If the solicitor general wants to repeal the franchise given to ABS-CBN, it should file its complaint [with] Congress because there are now 11 bills for the renewal of the ABS-CBN,” he added.

‘Broadcasting for a fee’

In seeking the revocation of ABS-CBN’s franchise, Calida accused the company of being engaged in broadcasting for a fee, which is beyond the scope of its legislative franchise. Calida said the network has been allowing foreign investors to take part in the ownership of a Philippine mass media entity, in violation of the foreign interest restriction of mass media provided under Section 11, Article XVI of the Constitution. “We want to put an end to what we discovered to be highly abusive practices of ABSCBN benefiting a greedy few at the expense of millions of its loyal subscribers. These practices have gone unnoticed or were disregarded for years,” Calida said. Calida said network management also violated its franchise when it launched and operated a pay-per-view channel in ABS-CBN TV Plus, the KBO Channel, without prior approval or permit from the National Telecommunications Commission. “While it is true that broadcasting is a business, the welfare of the people must not be sacrificed in the pursuit of profit,” the chief government lawyer said. Like Rappler, Calida accused ABS-CBN of issuing Philippine Deposit Receipts (PDRs) through its holdings corporation to foreigners, in violation of Section 11, Article XVI of the Constitution on foreign ownership restriction on mass media. The provision states that “the ownership and management of mass media shall be limited to citizens of the Philippines, or to corporations, cooperatives or associations, wholly-owned and managed by such citizens.” On its subsidiary, ABS-CBN Convergence Inc. (formerly Multi-Media Telepony Inc.), the government accused the latter of resorting to corporate layering in order to transfer its franchise without the necessary congressional approval. “It also failed to publicly offer any of its

Bond market. . . Continued from A1

This is 7.2 basis points lower than the previous average auction rate at 3.187 percent. The 182-day T-bills also worth P6 billion on offer fetched a lower average auction rate at 3.461 percent. This is down by 6.2 basis points from 3.523 percent previously. Meanwhile, the 364-day T-bills worth P8 billion on offer were also sold at an average auction rate of 3.908 percent, which is 5.6 basis points below the previously recorded average auction rate at 3.964 percent. Last week, the BTr was able to raise a

equity capital placements of $174 million more than offset equity capital withdrawals of $19 million. Reinvestment of earnings also rose by 35.1 percent to $88 million during the period. UnionBank economist Ruben Carlo Asuncion had earlier projected that FDI inflows to the country will improve toward the end of the year due to the expected easing of the US-China trade tensions and further clarity about the government’s fiscal reform efforts. outstanding capital stock to any securities exchange within the Philippines within five years from the start of its operations, which is an indispensable condition in its franchise,” the OSG said. “The legislative franchises of ABS-CBN Corp. and its subsidiary, ABS-CBN Convergence Inc., must be revoked. A franchise is a special privilege granted by the State, and should be restricted only to entities which faithfully adhere to our Constitution and laws,” Calida added. Reacting to the petition, ABS-CBN maintained that it has been complying with all provisions under its franchise and has secured all the necessary government regulatory approvals for its business operations. See story in “Companies,” page B1.

Press freedom

Rodriguez said the quo warranto complaint is, likewise, an assault on the constitutional mandate of press freedom under Section 4, Article 3 of the Charter. Salceda said Congress should do its job and hear the franchise of the ABS-CBN. “The independence of Congress is definitely at stake. That [complaint] should be submitted to the committee and we should invite the OSG as resource person for the consideration of that bill,” he added. Aragones said Congress is mandated to determine whether or not it should approve legislative franchises and should be given the opportunity to do so in the case of ABS-CBN. “Members of the House of Representatives are prepared to tackle the issues raised by the OSG as part of our mandate to study and evaluate all matters involving the renewal of legislative franchises,” she added. The bills seeking to renew the ABS-CBN franchise are pending before the House Committee on Legislative Franchises. Aragones said it’s important to consider the more than 11,000 employees of ABS-CBN and their families, as well as the general public who patronizes the network. Albay Rep. Edcel Lagman said the quo warranto petition preempts or usurps the sole authority of the Congress to extend or not an existing and expiring franchise like that of ABS-CBN Corp. “The Congress, more particularly the House Committee on Legislative Franchises, must not temporize its action on the pending bills proposing the extension of the franchise of ABS-CBN because it must maintain its independence from the executive and judicial departments. Moreover, there is no final decision on the quo warranto case,” he said. Notwithstanding the quo warranto case, Rep. Alfredo Garbin Jr. said the Committee on Legislative Franchises is not precluded and continues to have jurisdiction on the franchise renewal application of the latter. “The committee may continue to hear its application and receive requirements to prove its qualification for renewal or may scrutinize if there is any ground for disqualification,” he said. Rep. Lawrence Fortun of Agusan del Norte expressed confidence that the Committee on Legislative Franchises will not use this as a justification not to proceed with hearing the network’s application for renewal. record-high amount of P310.8 billion from its biggest Retail Treasury Bond (RTB) issuance so far. Broken down, P250 billion was raised through new money and P60.8 billion was raised through the switch tender offer. The latest RTB issuance surpassed the P255.4 billion sold in 2017. It is also BTr’s first RTB issuance for the year and the government’s 23rd tranche. Meanwhile, Sta. Ana said government’s financial managers are still monitoring the market on the timing of a dollar-denominated bonds issue. “We will also check our cash buffer; that’s also a consideration,” he added.

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TAGLE ‘QUIETLY’ LEAVES TO ASSUME NEW VATICAN POST

ITHOUT much fanfare, Manila Archbishop Luis Antonio Cardinal Tagle departed for Rome over the weekend to assume his new post in the Vatican on Monday. The Archdiocese of Manila confirmed Tagle left at 10 p.m. on February 9, 2020, Sunday, to become the new prefect of the Congregation for the Evangelization of People. It released Tagle’s farewell message, where he sought the continuous support of Filipinos for himself and the Archdiocese of Manila through prayers. “Work starts for me this week at the Congregation. It was an honor and blessing to have known you and have collaborated with you. I will always treasure my time with you,” Tagle said. “Please pray for me and my mission as well. Let us pray for docility to the Holy Spirit as we continue our life as an Archdiocese and await the next Archbishop. Stay well and joyful,” he added. Under his new post, Tagle will be given control of the mission territories of the Church, which comprise a third of all of the dioceses worldwide. With Tagle’s departure, Pope Francis designated Manila Auxiliary Bishop Broderick Pabillo as the Apostolic Administrator of the Archdiocese of Manila. A s of Mond ay af ter noon, the Archdiocese of Manila said Vatican has yet to announce Tagle’s official replacement. Tagle, who is the concurrent president of Caritas International and the Catholic Biblical Federation, served as Archbishop of Manila from 2011 to 2020. Samuel P. Medenilla

DPWH blacklists contractor for construction delays

HE Department of Public Works and Highways (DPWH) has blacklisted a contractor from government deals for a year due to construction delays, as the agency issued a stern warning against companies that fail to complete or deliver their projects on time. St. Gerrard Construction General Contractor and Development Corp. was barred from participating in all government projects for 12 months after it recorded a 15-percent negative slippage on the construction of a four-story school building in Indang, Cavite. “Let this be a warning that we will be banning more contractors who fail to deliver projects as stipulated in their contracts,” Public Works Secretary Mark A. Villar said. Villar said contractors are mandated under the government contracts to deliver the projects on time. “May we once again remind all contractors of DPWH that we are pushing for the timely realization of our “Build, Build, Build” program nationwide and we will not tolerate any unreasonable delay in our projects,” Villar said. Lorenz S. Marasigan

DOJ panel: Trillanes, 10 others liable for conspiracy to commit sedition after release of narco list videos

By Joel R. San Juan

@jrsanjuan1573

DEPARTMENT of Justice (DOJ) panel of prosecutors has recommended the indictment for conspiracy to commit sedition against former Sen. Antonio Trillanes IV, two priests and eight others, who were accused of orchestrating the release of the socalled Ang Totoong Narcolist video linking President Duterte, his family members and close associates to the country’s illegal-drug trade.

Aside from Trillanes, recommended to be charged for violation of Article 141 of the Revised Penal Code (RPC) were whistleblower Peter Joemel Advincula (alias Bikoy), former Police Sr. Supt Eduardo Acierto, JM Saracho, Boom Enriquez, Yolanda Ong, Vicente Romano III, Fr. Alberto Alejo, Fr. Flaviano Villanueva, Jonnel Sangalang and a certain Monique. Advincula was the one who appeared in the video as alias Bikoy but later on confessed that he was only used by Trillanes and the Liberal Party to launch Proj-

ect Sodoma aimed at discrediting the Duterte administration and boost the chances of senatorial candidates of Otso Diretso in the elections. The criminal liability of the 11 respondents under Article 141 of the RPC, according to the panel, arises for individuals who conspire or agree to raise commotions and disturbances to attain by force, intimidation, or any other means outside of the legal methods any of the following objectives: a) to prevent the promulgation, or execution of any law, or the holding of any popular election; b) to pre-

vent the national government, or any provincial or municipal government, or any public officer thereof, from freely exercising its, or his functions, or prevent the execution of any administrative order; c) to inflict any act of hate, or revenge, upon the person or property of any public officer or employee; d) to commit, for any political or social end, any act of hate or revenge against private persons or any social class; and e) to despoil, for any political or social end, any person, municipality or province, or the national government of all its property, or any part thereof. The panel cited “interlocking pieces of proof ” that provides a “complete picture of the grand conspiracy between and among some respondents to create hatred, or revenge against the President and his family with the end in view of toppling and destabilizing the current administration.” During its preliminary investigation, it was established that Bikoy’s videos were allegedly made by respondents Advincula; Saracho who allegedly acted as their narrator); Enriquez as alleged videographer and his assistant, alias Monique, while Ong and Romano allegedly served as scriptwriters. The panel, likewise, found that Fr. Alejo allegedly prepared the JesCom (Jesuit Communication Foundation) where the videos were allegedly shot. The panel also took into con-

@sam_medenilla

OCAL government officials who will defy the country’s national initiatives against the spread of the African swine fever (ASF) and the 2019-novel coronavirus (2019-nCoV) will face sanctions from the Department of the Interior and Local Government (DILG). Interior Undersecretary Jonathan Malaya warned noncompliance to the said policies, which he said are in line with the law, would be deemed illegal. He cited the Administrative Order 22, which was signed by President Duterte on February 5, 2020, institutionalizing the Ad-

sideration Advincula’s admission at the Integrated Bar of the Philippines to being “Bikoy.” And Acierto’s March 25, 2019, news statement accusing the President, his family and his close associates of supposed links to drugs and drug syndicates. Likewise, the panel gave weight to the admissions made by respondents, especially the allegations of Advincula and certain admissions of Trillanes, which allegedly bolstered the “existence of a grand conspiracy between and among some respondents to commit the crime of sedition.” The panel, however, dismissed the complaint for sedition, inciting to sedition, cyber libel, libel, estafa and obstruction of justice against all respondents. In finding no probable cause for sedition, or inciting to sedition, the panel found the element of public and tumultuous uprising wanting. In finding no probable cause for sedition, or inciting to sedition, the panel found the element of public and tumultuous uprising wanting. It f u r t her e x pl a i ne d t h at while the video series “contains l ibelous imputat ions aga inst President Duterte and his family which tend to create hatred or revenge against them,” nonetheless no words were uttered which tended to incite the people to take up arms, or rise against the government. Other respondents in the com-

plaint who were cleared of any criminal liability were Vice President Leni Robredo, Sens. Ana Theresa Hontiveros-Baraquel and Leila M. de Lima, “Otso Diretso” 2019 senatorial candidates Gary C. Alejano, Florin T. Hilbay, Romulo B. Macalintal, Jose Manuel I. Diokno, Paolo Benigno A. Aquino, Samira Gutoc-Tomawis, and Lorenzo R. Tañada III. Archbishops Pablo S. Virgilio S. David and Socrates B. Villegas, Bishop Teodoro C. Bacani and Honesto F. Ongtico, Bro. Armin Luistro, and running priest Robert Reyes. Also cleared were former Integrated Bar of the Philippines President Abdiel Dan Elijah S. Fajardo, incumbent IBP President Egon Q. Cayosa, lawyers Minerva Ambrosio, Theodore O. Te, Serafin Salvador and Philip Sawali. During the preliminary investigation, Advincula submitted as evidence, among others, USB drives, photographs of the respondents, keys and access cards of the places where he and his companions stayed, as well as utility bills and receipts, copies of the purchase receipts of the gadgets and electronic devices used in the making of the videos. “ T hese pieces of ev idence, along with certain admissions made by some respondents, were used by the panel in arriving at their conclusion to indict the 11 respondents for conspiracy to commit sedition,” the DOJ said in a news statement.

Police drug enforcement chief says PSA data show spike he’s ‘misquoted’ in Reuters report in PHL maternal deaths By Rene Acosta @reneacostaBM

HE Philippine National Police (PNP) denied on Monday the content of a news wire report by Reuters quoting the PNP’s antiillegal drugs chief as saying that the government’s narcotics campaign had been a failure. “Police Brig. Gen Romeo Caramat Jr. denied all the statements attributed to him, saying that he was totally misquoted,” said PNP spokesman Brig. Gen. Bernard Banac in a news statement released to reporters. “I challenge Reuters that if they have evidence to prove that I said all those things, I am more than willing to be relieved immediately,” Banac quoted Caramat as saying. Caramat is the chief of the PNP’s Drug Enforcement Group (DEG), the unit that is at the forefront of the police’s campaign against illegal drugs. Over the weekend, a Reuters report quoted the DEG chief as having

reportedly said that the antidrugs war was a “total failure.” But Caramat, however, denied having spoken to any reporter of the news agency, adding he would rebut Reuters’ report point-bypoint if given the chance by the agency. The Reuters report quoted Caramat as saying that the “ultra-violent approach to curbing illicit drugs had not been effective” and that the “shock and awe definitely did not work.” The same report quoted him as saying that the “drug supply is still rampant.” Banac said what the PNP can share in relation to the antidrugs campaign “is that the effort continues without let-up.” “The supply reduction strategy remains the backbone of this police campaign, although the focus has been shifted from the street level peddlers to the higher level dealers engaged in the trafficking of commercial quantity of drugs [crystal meth] 50 grams, or more,”

he said. “Over the past three years, the campaign was able to shutdown the operations of 14 clandestine crystal meth laboratories and 419 drug dens in different parts of the country. So far there are no more signs that indicate local production of methamphetamine products in the Philippines,” he added. Banac said the strategy was able to take off the streets an estimated 5.1 tons of shabu, 2.2 tons of marijuana, 500 kilos of cocaine and 42,473 Ecstacy pills, all with a total worth P40.39 billion. “Since the national crusade against illegal drugs was launched in 2016 until the 4th quarter of 2019, a total of 151,601 separate antidrug operations were conducted resulting in the arrest of 220,728 drug law violators among them, 8,185 highvalue targets and the death of 5,552 drug personalities,” Banac said. “All these operations led to the clearing of 16,706 drug-affected barangays in different localities,” he added.

DILG to LGU execs: Adhere to ASF, 2019-nCoV protocols By Samuel P. Medenilla

Editor: Vittorio V. Vitug • Tuesday, February 11, 2020 A3

ministrative Circular 12 of the Department of Agriculture (DA) for implementing the national zoning plan for ASF. It tasked DA, Department of Trade and Industry (DTI) and the DILG to ensure the national zoning plan will be implemented. The circular was “consistent” with the provisions of Republic Act 10611, or the Food Safety Act of 2013. AO 22, however, did not contain any specific provision on the sanction against local government units (LGUs), which will violate its provisions. Malaya noted DILG has the mandate to go after the erring LGUs. “If there is any LGUs, which will not comply, they could be cited for

violation of law. When you have someone cited for violation of law, [that is considered] grave misconduct that could lead to suspension, or removal from office,” Malaya told the BusinessMirror in an ambush interview in Malacañang.

Police powers

HE said they will use the same principle to implement the quarantine policies for the 2019-nCoV. To recall, the LGU of the municipality of Capas, Tarlac, initially opposed the decision of the national government to make the Athletes’ Village in New Clark City, as a quarantine facility for repatriated Filipinos from Wuhan, China. It later withdrew its objection

after getting assurance that the facility will implement stringent quarantine protocols. Malaya attributed the opposition of the Capas LGU to the proliferation of “fake news” related to the 2019-nCoV. “We are warning local government units not to be carried away by their strong emotions from fake news, which are spreading related on the situation,” Malaya said. “So far, everyone is now complying. There are no longer any report of noncompliance [to the quarantine protocol of the government],” he added. Malaya said they are ready to use the “police power of the state” to go after the purveyors of the fake news.

By Cai U. Ordinario @caiordinario

ITH only a decade left to meet the Sustainable Development Goals (SDGs), the number of women dying from childbirth in the country increased, data released by the Philippine Statistics Authority (PSA) showed. The data further showed maternal deaths increased to 1,616 in 2018 compared to 1,484 in 2017, or a two year high when maternal deaths reached 1,721 in 2015. Based on the SDGs, countries must bring down the number of maternal deaths to 70 per 100,000 live births. In the Philippine Development Plan (PDP), the Duterte administration aims to bring down its maternal mortality ratio to 90 by 2022. “Maternal death is the death of a woman while pregnant, or within 42 days of termination of pregnancy, irrespective of the duration and site of the pregnancy, from any cause related to, or aggravated by the pregnancy, or its management, but not from accidental or incidental causes,’” the PSA said. This is based on the definition set by the World Health Organization (WHO). PSA data showed Calabarzon recorded the most number of maternal deaths with 245, or 15.2 percent, of the total. Unfortunately, this represented a 10.36percent increase from the 222 posted in 2017. Other regions that accounted for a large share of maternal deaths in 2018 were Region 7 (Central Visayas) and Metro Manila with 230 and 195 deaths, respectively. Maternal deaths in Region 7 accounted for 14.2 percent in 2018. However, this represented a 40.24-percent increase from 164 deaths in 2017. PSA data showed that maternal deaths in Metro Manila accounted for 12.1 percent of the total in 2018. This was the same number posted in 2017.

Meanwhile, the Cordillera Administrative Region (CAR) and the Autonomous Region in Muslim Mindanao (ARMM) recorded the least number of maternal deaths, each with only 12 percent or 0.7 percent of the total. Maternal deaths in CAR contracted 7.69 percent compared to 2017 when there were 13 deaths while those in ARMM posted a contraction of 36.84 percent from 19 deaths in 2017. The reduction of the maternal mortality ratio (MMR) of the country is one of the Millennium Development Goal (MDG) targets that the country failed to achieve. The target is to reduce by threequarters, between 1990 and 2015, the maternal mortality ratio. In 1990, the country’s MMR was at 209 deaths per 100,000 live births. Based on this, the country should have been able to cut this to 52 deaths per 100,000 live births by 2015. Reducing maternal deaths is also part of the SDGs under Goal 3 of ensuring healthy lives and promoting the well-being for all at all ages. The SDGs are composed of 17 goals with around 169 targets with 230 global indicators adopted in September 2015. The Global Goals aim to end poverty and hunger, promote universal health, education for all and lifelong learning, achieve gender equality, sustainable water management, ensure sustainable energy for all, decent work for all, resilient infrastructure, and reduce income inequality between and among countries. The goals also include the creation of sustainable cities, ensure sustainable consumption and production, take action against climate change, conserve and sustainably use oceans and marine resources, reduce biodiversity loss, achieve peaceful and inclusive societies, and revitalize global partnership for development.

A4 Tuesday, February 11, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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Ibpap lists growth sectors in next three years

By Elijah Felice E. Rosales

@alyasjah

EALTH-CARE management and animation are projected to grow double digits until 2022, making them the growth drivers of the information-technology and business-process management (IT-BPM) over the next three years. In news statement on Monday, the IT and Business Process Association of the Philippines (Ibpap) disclosed its new growth figures for various sectors in line with the industry’s revision of targets last

year. Under the recalibrated numbers, health-care management, as well as animation and game development, posted the most potential both in revenue and labor force. In terms of revenue, animation

and game development is expected to grow from 7.3 percent to 12.3 percent until 2022, while health-care information management is projected to accelerate to as high as 10.3 percent. Further, the contact center and business processing sector is seen to improve revenue from 3.3 percent to 7.4 percent. On the other hand, IT and software is anticipated to grow by as much as 6.7 percent, while global inhouse centers expected to rise to a high of 5.2 percent. As for workers’ count, animation and game development will likely expand from 6.8 percent to 11.7 percent, while the health-care information management is seen enlarging by as much as 10.2 percent, according to Ibpap estimates. Also, contact center and business processing is expected to increase its manpower from 3.3 percent to 7.4

percent. Meanwhile, IT and software is projected to grow its labor force by as much as 6.7 percent, while the global in-house center sector is seen expanding by a maximum of 5.2 percent. “While contact center and business processing, global in-house centers, and IT and software remain as the biggest subsectors, the recalibration highlights that health-care information management, animation and game development will grow at a higher rate than the overall Philippine IT-BPM industry,” the Ibpap said in the news statement. Ibpap’s six partner associations are gearing up for a busy year in order to contribute to the IT-BPM industry’s overall growth. For one, the Healthcare Information Management Association of the Philippines is building a delegation for a two city

road show in the United States, which will include a business forum in New York, and the country’s participation at the HIMSS20 Global Health Conference and Exhibition in Orlando. The Animation Council of the Philippines, for its part, is planning to put together a large-scale multiyear training program for artists outside of Metro Manila with the objective of making them globally competitive as independent content developers, or service providers. “On a larger scale, Ibpap is also working closely with various local and national government agencies, and other organizations to ramp up its upskilling and reskilling efforts for the work force. It is also working closely with the academe in creating a more cohesive program and curriculum to help students better understand the

IT-BPM industry, and the different career opportunities it offers to everyone,” the group added. The IT-BPM industry in November reduced its growth forecast by nearly $7 billion in revenue, and roughly 230,000 workers in employment on uncertainties brought about by domestic and international policies. The industry is now just expected to generate revenue of $32 billion by 2022, nearly 18 percent lower from the original projection of $38.9 billion under the IT-BPM road map. The industry is now forecast to employ roughly 1.57 million workers by 2022, or more than 13 percent below the previous figure of 1.8 million workers. The annual growth rate in revenue was cut to 7.5 percent, from 9.2 percent; while in manpower, to 3.5 percent from 7.8 percent.

Sarangani bans transport of pigs, pork products amid ASF threat By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CIT Y—Sarangani province locked down its eastern border against possible attempts to transport, or smuggle pigs and pork products, from the African swine fever (ASF)-infected Davao provinces, and swept through some border barangays where alleged contamination was reported. The Sarangani Communications Service said quarantine checkpoints were already installed in the town of Malungon, the main entry to Sarangani province; and General Santos City from Davao City and Davao del

Sur; and in Glan, the border town with the municipality of Jose Abad Santos of Davao Occidental. All three areas of Davao region have already been infested with the ASF after the first outbreak in Don Marcelino town of Davao Occidental in the last week of January. Sarangani Gov. Steve Chiongbian Solon issued Executive Order 1, Series 2020, on February 3, 2020, directing “temporary lockdown of live hogs, imported/local pork and pork-related products in Sarangani coming from the provinces of Davao Occidental and Davao del Sur, and other areas with ASF cases,” the information office said. He said the temporary lockdown

should allow the province “to get the system to be in place first.” Quoting Provincial Veterinarian Dr. Bernard Cababat, the report said the quarantine posts have been established by February 7 in Malungon Gamay in Malungon; Batulaki in Glan; Maribulan in Alabel; and Tinoto in Maasim, which served as the main four posts; and in Malandag in Malungon; Baliton and Kapatan in Glan; Banate; San Juan; Lumabat and Panamin in Malungon; and Datal Anggas in Alabel. Cababat said the province is prepared to establish an additional checkpoint in Poblacion, Maitum, if ASF cases would be reported from the provinces of Sultan Kudarat and South Cotabato.

These checkpoints alerted the Department of Agriculture (DA) of the Davao region that hog traders and backyard raisers from Davao Occidental attempted to smuggle their pigs to Sarangani using the Jose Abad Santos-Glan route. Agriculture Secretary William Dar disclosed these attempts during a news briefing here on Sunday, indicating that residents in infected Davao Occidental disregarded the strict government lockdown protocols and a stern warning from Davao Occidental Gov. Claude Bautista of imposing penal sanctions against violators.

Disinfection

SARANGANI tied up with the Vet-

PhilRice distributes pure line rice seeds for 480K farmers By Jasper Emmanuel Y. Arcalas @jearcalas

HE Philippine Rice Research Institute (PhilRice) said it has distributed at least 1.24 million bags of inbred seeds to more than 480,000 farmers planting in an estimated area of 609,000 hectares for the dry harvest season. In a news statement, PhilRice, an attached agency of the Department of Agriculture, said the seed distribution was part of the seed component of the P10-billion Rice Competitiveness Enhancement Fund (RCEF). “PhilRice commits to continue reaching out to more farmers to provide them certified seeds as an intervention to help increase yield, and reduce cost amid the implementation of rice tariffication law,” Dr. Flordeliza Bordey, PhilRice deputy executive director for special concerns, said.

Bordey said PhilRice would distribute 2.514 million bags of rice seeds for the 2020 wet season planting, and 1.676 million bags for the dry season next year. PhilRice said they also plan to develop farmer-trainers to augment the lack of manpower in the RCEF Extension Service Program due to limited budget. PhilRice added that they would also prioritize engaging the youth this year. “Farmer-trainers will be a critical group of farmers who will disseminate information,” Dr. Karen Eloisa T. Barroga, deputy executive director for development, said. “There are many opportunities available for the youth, specifically for those who have interest in agribusiness through tech-voc [technicalvocational],” Barroga added. Under the six-year RCEF, which ends in 2024, an annual P3 billion is allotted for the distribution of free inbred seeds to rice farmers to improve their productivity and yield.

The RCEF seed component program started on October 1, 2019. The seeds procured by the government from the seed producers for the RCEF program will be distributed to rice farmers in 57 provinces identified to have high potential for competitiveness, according to DA. The eligible farmer-beneficiaries should be listed in the Registry System for Basic Sectors in Agriculture. Each farmer could receive a maximum of four bags of inbred seeds depending on farm size, according to DA. “This is based on the size of area harvested, yield level, cost of production and share of irrigated area. Also, the municipalities, and cities, must have an annual area of more than 500 hectares for the dry season 2019 and 2020,” it said. “With the seed program of RCEF, we would like the Filipino rice farmers to be more productive more competitive and more profitable, at the end of the day,” it added.

erinary Office of General Santos City for disease prevention, and provided some supplies for the animal checkpoints of Sarangani. The DA provided disinfectants, boots, coolers and other gears for the personnel. Cababat said his office fielded 48 personnel to enforce a 24-hour inspection and monitoring. The personnel disinfect inbound and outbound vehicles, and would seize pigs, and pork products, unless they have complete veterinary permits issued by government veterinarians and by the National Veterinary Quarantine Service.

Sarangani is ASF-free

CABABAT assured the province that

it was still ASF-free “for now.” Veterinarians and agriculture personnel tested some 30 to 40 samples from the villages of Malungon that border with Davao del Sur, but these samples “yielded negative results, meaning we are still virus-free here in Sarangani,” Cababat said. The samples were taken from the Malungon barangays of Malandag, Lutay, and Kinabalan which share borders with Davao del Sur and Davao Occidental. Specimens were also taken from from the remaining border barangays of Malandag, Banate, Malungon Gamay, JP Laurel and San Juan, and the results were expected in the coming days.

Unlocking the power of data

By Henry J. Schumacher

ATA has become the new life force that drives the world today. Businesses have always leveraged their company, or customers information, to make better, smarter, real-time, fact-based decisions—from developing a new product, moving into a new market or business field, to simply redefining an old process. New technologies, an increasing number of connected devices, combined with better data collection tools and processes, are leading to an exponential increase in the volume and types of data available. Researchers around the world are in broad agreement that the size of the digital universe will double every two years, at least, resulting in a 50-fold growth in this decade. Machine data is growing even more rapidly, at 50 times the growth rate. The data revolution is creating unprecedented possibilities, not only for businesses, but also for governments and the public sector to inform, and transform, the society, while driving positive social impact outcomes. There is an urgent need to leverage data and analytics to unlock insight that will enable regulators to design impactful, innovative so-

lutions, jointly with constructive stakeholders in the private sector and civil society. We have to learn how to build and nurture communities, while helping create and maintain conditions that empower people. Let’s be very clear about this: in this environment, stakeholder relations are more crucial than ever. It goes without saying that such stakeholder relations must be built on trust. Trust and transparency are two sides of the same coin! We are all facing the same challenges posed by the data revolution and the advent of the Fourth Industrial Revolution. A rapidly changing work environment demands that the youth be equipped with the skills they need to thrive in the digital economy and move all of us toward a secure, sustainable and digitally enabled economy. Predictive analytics and data automation will be some of the hottest topics for business. Predictive analytics will allow business to assess future economic conditions, risk areas, climate trends, infrastructure maintenance and investment needs. It becomes obvious that companies have to train their staff in data analytics so that they can respond to market opportunities faster and— at the same time—avoid disruptive innovation. There is a baseline of rudimentary analytics, and then there is the possibility of augmenting these analytics with machine-generated data queries through artificial intelligence and machine learning. But let’s be clear: AI and ML will augment—not replace—human creativity, in terms of framing unique analytics. In conclusion, it is not just about equipping the youth with the necessary digital skills for tomorrow, but also enabling them (and everybody else) to design impactful, innovative solutions to societal problems. We will have to tap on all stakeholders—public and private sectors, academia and civil society—in order to turn these challenges into opportunities. Feedback would be more than welcome; contact me at schumacher@eitsc.com.

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Editor: Angel R. Calso • Tuesday, February 11, 2020

Mainland China virus cases rise again, 60 more on ship B

EIJING—China reported a rise in new virus cases on Monday, possibly denting optimism that its disease control measures, like isolating major cities, might be working, while Japan reported dozens of new cases aboard a quarantined cruise ship. The mainland death toll rose by 97 to 908, and 3,062 new cases were reported on the mainland over the 24 hours through midnight on Sunday. That was up 15 percent from Saturday, and broke a string of daily declines. A government spokesman had said on Sunday those declines showed containment measures were working. Japanese health officials said about 60 more cases found aboard the Diamond Princess, in addition to 70 cases found earlier among 3,711 passengers and crew. Health ministry officials were double-checking the results and could not immediately release the exact figure. Japan’s Health Minister Katsunobu Kato said the government was considering testing everyone aboard, which would require them to remain on the ship until results are available. Health authorities also are scrambling to deliver medicine requested by more than 600 passengers. “We are doing the utmost to keep everyone in good health,” Kato said. The fatality toll from the new virus has passed the 774 people believed to have died in the 2002-2003 epidemic of severe acute respiratory syndrome, another viral outbreak that originated in China. The total of 40,171 cases on the mainland of the new virus vastly exceeds the 8,098 sickened by SARS. More than 360 cases have been confirmed outside mainland China, including two deaths in Hong Kong and the Philippines. China has built two hospitals and sent thousands of extra doctors, nurses and other health-care workers to Wuhan, the city of 11 million people in central Hubei province that is the epicenter of the outbreak. Most access to Wuhan was suspended January 23, and restrictions were expanded since then to cities with a total of 60 million people. Businesses are gradually reopening following the Lunar New Year holiday, which was extended to discourage travel in an attempt to contain the virus, but they face heavy losses. With temperatures rising and snow melting, the capital Beijing began coming back to life, although with strict epidemic control measures still in place. At the popular Sanyuanli wet market, face-masked customers mixed with delivery men collecting orders of meat, fruit and vegetables for city dwellers preferring to prepare meals at home rather than venture out to restaurants or take delivery of precooked food. Apartment blocks and gated communities

have blocked direct delivery, requiring bags of goods be left with guards or in lockers set up at entrances by the major delivery firms. Market stalls remained well-stocked with fresh pork, mutton, seafood and vegetables while there appeared to be no shortage of paper towels, toilet paper or cleaning supplies. While traffic had increased from last week, there were still far fewer cars on the road and people on the subways. “The number of customers here is down a lot, maybe by more than half,” said Liu Ying, who sells walnuts, cashews, and other local and imported specialties at the Xinyuan Street Day Market. “But you can see a lot of people calling in orders so we’re slowly getting busy again.” Asian stock markets slid on Monday following warnings that investor optimism the disease and its economic impact were being brought under control might be premature. China’s central bank announced a 300billion yuan ($43-billion) fund to make lowinterest loans to producers of medicine and medical supplies, or other companies involved in fighting the virus. Over the weekend, the government promised tax cuts and subsidies to farmers, supermarkets, producers of medical supplies and companies that contribute to anti-disease work. China’s leaders are trying to keep food flowing to crowded cities despite the antidisease controls, and to quell fears of possible shortages and price spikes following panic buying after most access to Wuhan and nearby cities was cut off. Consumer inflation spiked to an eightyear high of 5.4 percent over a year earlier in January, driven by a 4.4-percent rise in food costs, the government reported on Monday. Food prices rose 1.4 percent from the previous month. “It appears that supply disruptions and hoarding due to the coronavirus outbreak helped to keep food prices elevated during the week after Chinese New Year, when they would normally drop back,” said Julian EvansPritchard of Capital Economics in a report. Meanwhile, the mother of a physician who died last week in Wuhan said in a video released on Sunday she wants an explanation from authorities who reprimanded him for warning about the virus in December. The death of Li Wenliang, 34, prompted an outpouring of public anger. Some postings left on his microblog account said officials should face consequences for mistreating Li. “We won’t give up if they don’t give us an explanation,” said Lu Shuyun in the video distributed by Pear Video, an online broadcast platform. The video shows flowers in her home with a note that says, “Hero is immortal. Thank you.” AP

‘Nightmare’ for global tech firms: Coronavirus fallout just beginning

S Chinese-based manufacturers begin to restart factories on Monday, no one knows for sure when they’ll be back at full speed—or what sort of chaos may ensue. Tech producers led by Foxconn, which makes the majority of the world’s iPhones from Zhengzhou a few hundred miles from the coronavirus outbreak’s epicenter, had begun preparing investors for the potential bedlam when hundreds of thousands make their way back to factories. Apple Inc.’s most important partner warned investors of the daunting task of securing enough workers despite widespread transport blockades, quarantining thousands, and the “nightmare” scenario of an on-campus epidemic that could shut down production altogether. Last week, it took the unprecedented step of warning workers to stay away from its Shenzhen headquarters till further notice as government inspectors vet its containment procedures, Bloomberg News reported. “How we can make sure there will be no infection within our campuses will be the first priority, because if you put a lot of people together and one of them gets infected, that will be a nightmare,” Foxconn Investor Relations Chief Alex Yang told investors on a Thursday call, according to a recording obtained by Bloomberg News. “We try very hard to make sure the possibility of any onsite infection will be as low as zero, although it will be challenging.” The deadly virus has illustrated the increasingly central role China plays in global manufacturing, from clothing and chemicals, to automobiles and especially technology. Just about every major piece of consumer electronics is made in

China, from iPhones and gaming consoles to half the world’s liquid crystal display, or LCD screens. The contagion has already shuttered plants across China for a week longer than anticipated after the Lunar New Year break—a disruption that could get much worse if rolling quarantines and suspended rail and air links prevent the return of the millions of blue-collar laborers at the heart of electronics assembly. When they do make it back, untold numbers will get funneled into a quarantine of up to two weeks—a sequester of unknown scale. Any disruptions at Chinese plants can, in a worst-case scenario, freeze parts of the supply chain by triggering cascading shortages. Influential supply-chain analyst Kuo Ming-chi of TF International estimates Foxconn’s main iPhone-making base will properly resume work only next week—and then at 40-percent to 60-percent capacity. Citigroup estimates just 30 percent of the entire Chinese semiconductor work force is estimated to return to their workplaces as of February 11. Foxconn said in a statement on Saturday it’s working with local governments to prepare for the return of employees, without specifics. Shenzhen’s Longhua district said in a WeChat post it was helping the Taiwanese company fine-tune its plans. “To safeguard everyone’s health and safety and comply with government virus prevention measures, we urge you not to return to Shenzhen,” Foxconn wrote in a February 5 text message to employees based in the southern city. “As for the happy reunion date in Shenzhen, please wait for further notice.” Bloomberg News

A6 Tuesday, February 11, 2020 • Editor: Angel R. Calso

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editorial

Double-edged

he Philippines has the highest Internet usage in the world, according to the Digital 2019 report of social-media management firm Hootsuite and creative agency We Are Social. Millions of Filipinos spend around 10 hours and two minutes daily online, which far exceeds the global average online time of six hours and 42 minutes daily. The report also showed that Filipinos are still the most active socialmedia users in the world, with 67 million (of the 105 million Philippine population) spending around four hours and 12 minutes on various social-media platforms every day. Filipinos are becoming more adept at using social media not just to connect with old friends and make new ones but also to demand and effect changes from government and society. The government too has been harnessing the power of social media to connect and directly interact with citizens, and draw support for its policies and programs. The President has an official Facebook page and a web site, president.gov. ph. There is also the Official Gazette (gov.ph), the official online portal to the Philippine government. The Department of Health has been giving regular nCoV updates on its web site and other social-media platforms, such as Facebook, Twitter and YouTube. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa), the Philippine Institute of Volcanology and Seismology (Phivolcs) and the Metropolitan Manila Development Authority (MMDA) also have Twitter and other social-media accounts that provide real-time updates to the public—from common-sense guidance to critical information during an emergency. Phivolcs, for instance, has been giving constant updates on Taal’s volcanic activities through its web site and social-media sites. The government’s efforts to encourage civic engagement through the Internet is at times more than its wishes, as citizens communicate their frustrations with government using social media. Nowadays, Facebook, Twitter, and blogs are used as broadcast platforms for all kinds of protests and causes—just as much if not more than rallies, marches and street demonstrations. Social-media tools are being used to bring more democracy into our democracy, so to speak. They are providing new ways for more people to collaborate and discuss sociopolitical issues openly and without fear of retribution. Whether it is to combat climate change or facilitate protests, social media’s ability to quickly build a positive consensus and inspire action is unprecedented. The irony in all this is that social media can become a vehicle for destructive impulses, as well. Facebook pages, Twitter and other social-media platforms have been used to slander, spread lies and spew venom in the same way they’ve been used to express love, friendship and spread useful, positive information. For instance, various fake stories about nCoV infections have been circulating on social media, to the extent that both the Philippine National Police and the National Bureau of Investigation (as ordered by Justice Secretary Menardo Guevarra) have threatened to go after peddlers of fake nCoV news. The World Health Organization (WHO) said “trolls and conspiracy theories” are undermining their response to nCoV. As the recent headline of the Guardian newspaper said, “Misinformation on the coronavirus might be the most contagious thing about it.” How we use social media is up to us. The late Steve Jobs said the technologies we create are nothing if they don’t help us build a better future and a better life, if they don’t help us, as he said, “make a dent in the universe.” But if social media can give the voiceless a voice, can open shut doors, bring people together, help us listen to each other better and take collective action for the common good, then we do not mind so much its ironies and double-edged nature.

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he high approval and trust rating of President Duterte is enabling the government to handle the Taal Volcano eruption and the coronavirus crises with aplomb.

The public normally looks up to the government or leadership for guidance whenever a major problem or concern crops up. It is, thus, important for the administration to show confidence and remain positive when dealing with crises. I believe every problem can be dealt with and contained at once as long as we do not panic. This way, the crisis is quickly minimized and defused. More important, a responsive government will reassure the confidence of the public and avoid a panic situation. Take the case of Taal Volcano eruption last month. The government quickly marshaled its personnel and resources to avoid the loss of lives and minimize the damage from the volcano’s eruption. The state’s efforts to immediately help the displaced residents of Taal and nearby towns have built confidence among the victims and are speeding

up the recovery process in the area. I am confident the Philippines will weather the Taal Volcano eruption as it is now showing signs of simmering down. In the case of the coronavirus outbreak that is gripping China and the rest of the world, the government’s response was calculated. The Duterte administration has let the Department of Health handle the virus scare. Being the authority on health concerns, Secretary Francisco Duque is giving the public timely updates on the situation and advice on how to deal with or avoid the virus. Informing the public is critical to the prevention of the disease. The World Health Organization is working round the clock with Internet and social-media giants to fight widespread misinformation surrounding the deadly virus outbreak. WHO chief Tedros Adhanom Ghebreyesus has warned of the dangers posed by

PSE: 2013 and 2020

Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Creative Director Chief Photographer

Handling PHL crises with calm resolve

John Mangun

OUTSIDE THE BOX

uring a breakfast meeting this past Sunday, a gentleman said that we are basically back to the same level we were in 2013.

The yearly high in 2013 saw the Philippine Stock Exchange Composite index (PSEi) at around 7,000. We are now trading at about 7,500. However, consider that the market went down to the 6,000 level in 2013 and then returned to 7,000 in 2014. Since then we have traded in the range from basically 6,800 to 8,000 with one six-month period at the end of 2017 and beginning of 2018 when we pushed to 9,000. But he does make a valid point. From 2014 until now, the long-term “average price” of the PSEi is 7,400, so therefore we are not much changed from 2013 despite all the ups and

downs in the past seven years. Why is that? We are constantly looking both on a short- and long-term basis for the factors—and preferably that one magic factor—that moves stock prices. If we could just nail down what that parameter is, then we could be maybe near 100 percent accurate in forecasting where stock prices are going to go in the future. We might say that the past seven years have been tumultuous and that is the reason stock prices are not that much higher. But when has there ever been a sevenyear period that was all peace and

“the spread of rumors and misinformation” after China reported a surge in deaths and infections from the contagious virus. The coronavirus will hopefully blow over and I hope it will have little and temporary effect on the global economy, particularly the Philippine economy. I also do not see the government panicking over the effects of the novel coronavirus acute respiratory disease on the economy. Finance Secretary Carlos Dominguez III has downplayed the impact of the disease on economic expansion this year, with the government keeping the growth target of 6.5 percent to 7.5 percent for 2020. Dominguez is showing poise and confidence during a recent Senate hearing. He said while the virus outbreak may dampen economic growth somewhat, “domestic tourism is expected to increase as more people would likely prefer to travel within our borders, thus boosting domestic consumption.” Dominguez is banking on the government’s “Build, Build, Build” program, a benign inflation rate and stable monetary policy to sustain the momentum of economic growth. “At this moment, it is reasonable to expect that while these developments might slightly restrain our economic expansion, these threats are not enough to force a dramatic reduction in our growth estimates. We are standing by our working

projection of a GDP growth rate between 6.5 percent and 7.5 percent for 2020,” says Dominguez. A positive factor supports the bullishness of Mr. Dominguez. The timely enactment of the 2020 national budget and Congress’ approval of the validity of certain aspects of the 2019 budget until December 31, 2020, will provide what Dominguez calls “a double-barreled boost” enough to sustain our high growth trajectory.” President Duterte’s approval rating of 87 percent in December from 78 percent in September will also help ease the job of the country’s economic team. Lawmakers view the President’s high approval and trust rating as “a deep political capital” to pursue reforms and improve public service. These ratings, says Agusan del Norte Rep. Lawrence Fortun, “bode well for the implementation of new laws, programs and projects we in Congress support with the legislations we push for and our work in the committees.” Such high approval ratings give President Duterte and his administration the ascendancy to implement his economic agenda of generating more jobs for the Filipinos and significantly reducing the country’s poverty incidence.

harmony? The Dow Jones Industrial Average is up 2,800 percent in the last 100 years, which has not been a period of calm. But then war, plague, volcanoes, and every other disaster that man and nature can throw is not the only thing that moves stock prices, of course. Maybe we need to go back to basic economics. Shouldn’t stock prices simply reflect the broad economy? In that case maybe the stock market its broken since the Philippine economy is more than 20 percent larger than in 2013, even accounting for population growth. Why aren’t stock prices 20 percent higher? Perhaps the Philippine government is to blame. Except while the foreign debt is about the same, the debt-to-GDP is 20 percent lower. Foreign-currency reserves are 10 percent higher. The budget deficit in relation to the GDP is worse. But then again, government spending has more than doubled since 2013 and that is good for economic growth. Interest rates are about the same as in 2013, as is inflation. Consumer confidence was negative in 2013 and is now positive; business confidence

is almost identical as back then. Unemployment, poverty, and almost every quality of life measure is better now than in 2013. Even such very subjective measures as ‘self-rated’ poverty and hunger are the same or have improved since 2013. Then we need to look outside our shores. What about oil prices? In 2013, Brent crude oil was $114 per barrel. It is now $54. Economic growth in the US was almost zero in 2013; it is now about 2 percent. Global GDP growth—not counting the nCoV fallout—will be about the same in 2020 as it was in 2013. It must be that we have a negative attitude today. But consumer confidence was negative in 2013 and is now positive, business confidence is almost the same as back then. Maybe there are no external parameters that can forecast the future. Maybe the best we can do is simply follow the trend.

For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

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Why is local carabao milk more expensive than imported milk? Manny F. Dooc

TELLTALES

divorce is always traumatic no matter how it was drawn up and settled. The entire process leaves a wound that time cannot heal. The UK officially left the European Union (EU) on January 31 after a majority of its citizens voted to sever ties with the EU three years ago. Instead of celebrating and welcoming the occasion with a bang, Brexit supporters gathered quietly at the Parliament Square to mark the historic event.

There were no fireworks or champagne. The event was subdued and somber. The sun finally sets on almost half a century of UK’s membership of the EU—a proud nation that once boasted during the height of its power that the sun never sets on its dominion. Prime Minister Boris Johnson called for unity and national renewal hours before Brexit. He intoned: “Our job as the government —my job—is to bring this country together and take us forward…. This is the moment when we begin to unite and level up.” I hope that this will be the case. While Brexit was finally obtained, this is not the last time we’ll hear about it. The anti-Brexit feeling representing 48 percent of the Britons who voted against it may still harbor and nurture the hope that someday the UK may reoccupy its membership at the EU. After all, the Irish PM has said: “There will always be a seat kept for them at the table” should the UK want to return. Well, that’s nothing new. Briton Richard Burton remarried Elizabeth Taylor even after a bitter divorce. Now that it’s done with, what will be Brexit’s impact on the Philippines? Our BPO industry will likely be a Brexit beneficiary. As previously pointed out by the Nordic Chamber of Commerce of the Philippines, “the Philippine outsourcing industry could gain more from Brexit in terms of a cheaper alternative for the UK. In more dire times, [British] companies will be looking for more cost efficiency which oftentimes can be found in markets like here in the Philippines, in that particular sector.” An improved relationship with the British government can also escalate trade between the two countries, as the Philippines is emerging as a growth market. Investors view this development more as an opportunity than a risk. nnn

President Trump was sued over his decision to roll back the regulations governing the meals served in schools implemented by former President Barack Obama. Trump’s action was challenged in court by several states, including Washington, D.C., which claim that the changes made by Trump present health risks to schoolchildren. Thirty million American kids in school rely on free school lunches subsidized by the federal government. Lowering the nutrition standards to cut costs would result in a low-cost diet, mostly processed foods, which are high in calories but poor in nutrients. Under the Obama-sponsored law, the Healthy Hunger-Free Act of 2010, all K to 12 students received more vegetables, fruits, whole grain rich food and fat-free milk. Fruits, vegetables and milk were standard fare. However, the Department of Agriculture under Trump argued that the Obama diet leads to high costs and food wastage so they have proposed to drop it in an announcement made on January 17, 2020, the birthday of former First Lady Michelle Obama. As First Lady, she strongly advocated the school feeding program by providing nutritious food to schoolchildren. This resulted in the enactment of the Healthy Hunger-Free Act. If it’s not a clear sabotage of Obama’s program, I don’t know what it is.

Milk is considered a complete food rich in calcium, fat, protein, calories and various vitamins. Children need two to three glasses of milk servings a day, but how many Filipino families can provide a glass of milk daily to their kids? There is a correlation between proper nutrition and good health to school performance of schoolchildren. A malnourished child cannot be expected to perform well in school. Thus, I cannot agree more with Sen. Cynthia Villar, chairman of the Senate Committee on Agriculture, who berated the Philippine Carabao Center and the National Dairy Authority for failing in their mandate to promote dairy production in our country. Milk is considered a complete food rich in calcium, fat, protein, calories and various vitamins. Children need two to three glasses of milk servings a day, but how many Filipino families can provide a glass of milk daily to their kids? There is a correlation between proper nutrition and good health to school performance of schoolchildren. A malnourished child cannot be expected to perform well in school. This is the rationale behind Sen. Grace Poe’s efforts to have the National Feeding Program enacted into law a couple of years ago. I recall that Poe sincerely appreciated PRRD’s approval of the law, which she described as “an acknowledgment of the stark reality that adequate food and good nutrition are paramount to a child’s ability to grow healthy and to succeed academically. When we feed them well, we don’t only nourish the young body, but the mind, as well.” Milk feeding program is the third component of the school-based feeding program. The fortified meals and cycle menu include fresh milk, as well as fresh milk-based food products that the Department of Agriculture, the Philippine Carabao Center and the Cooperative Development Authority were tasked to promote. The law that provides free and nutritious food for children aims to give relief to poor families suffering from the impact of high prices of food and milk. Unfortunately, the cost of a liter of carabao milk produced by local dairy farms is more expensive than the imported milk from Australia, New Zealand, Germany and other countries. No wonder, Villar erupted during the last budget hearing. Meanwhile, more than 50 liters of breast milk were donated by nursing mothers from Taguig and Pateros through the office of Sen. Pia Cayetano and the City of Taguig to the Batangas Medical Center to feed the babies affected by the recent Taal Volcano eruption. The medical center maintains a milk bank that can store and preserve breast milk for eventual distribution to babies staying in the various evacuation centers. During times of stress, lactating mothers cannot produce enough milk to feed their babies. Aren’t we lucky we have mothers in the Senate? Mabuhay kayo Sens. Cynthia, Grace and Pia.

Tuesday, February 11, 2020 A7

The value of revisiting the VFA Teddy Locsin Jr.

Free fire Continued from A1

wish to first of all thank the chairman and the honorable members of the Senate Committee on Foreign Relations for the invitation to discuss with you our defense and security arrangements with the US, specifically, the Visiting Forces Agreement (VFA).

We welcome this opportunity to get a sense of the Legislative branch’s views on the matter and its attendant issues, as we also welcome inputs from other stakeholders. We would have wished to respectfully request that in making this presentation, the committee go on executive session owing to the highly sensitive nature of the topics to be discussed. But we, in the Department of Foreign Affairs, are fine with any arrangement. My colleagues in the Cabinet, however, who are in-charge of the nuts and bolts of national defense may wish to have an executive session and I hope they are accommodated. Let me proceed. My presentation this morning will focus primarily on the VFA. It will also, tangentially, touch on other Philippine-US defense/security related agreements, such as the Mutual Defense Treaty (MDT) and the Enhanced Defense Cooperation Agreement (Edca). The flow of presentation will cover the following: (1) The direct and indirect benefits derived from the VFA; and (2) A preliminary impact assessment of an abrogation of the VFA given the benefits identified. The DFA is not proffering any options at this point, as it chooses to also take into account the views of the Legislative branch and other quarters of society, before doing so; not to mention the Department of National Defense which is at the forefront of the issue because this is about national security: the highest object of foreign and domestic policy. I have repeatedly said: that foreign affairs in my watch is the fist in the iron glove of the armed forces. You will listen to other views on how and whether to continue the VFA. The option for the Philippines to terminate the VFA is an exercise of sovereignty. The termination of the VFA may facilitate closer relations with nontraditional partners, such as ideally far Russia. A power, like the US, too far to meddle in our internal affairs, without any acquisitive

interest in our territory, yet strong and with a long enough reach to hit a common enemy in our mutual defense. In the matter of national defense, closer relations cannot ever encompass a military alliance with a near power because that is illogical, impractical, self-defeating and an invitation to foreign aggression. However, the termination of the VFA must be weighed in terms of the overall national interest of the country. We have listed four areas where the direct benefits derived from the VFA are most manifest. Clearly, these will be in respect of Philippine defense, military and security arrangements. 1. The VFA ensures operability of other Philippines-US defense agreements and modalities of cooperation. Other Philippines-US Agreements and modalities of defense and security cooperation may be rendered inoperative despite remaining legally valid. Some of these agreements and modalities of cooperation include the MDT which the VFA serves, the Edca which gives substance to the commitments of the MDT, the Mutual Logistics Support Agreement, and the Mutual Defense Board-Security Engagement Board (MDB- SEB) approved joint exercises on combating traditional and nontraditional security threats which is to say Islamic terrorists with which we can never be at peace. For the MDT, the VFA is the substance that makes it real and makes it work. The Edca, on the other hand, is hinged on the VFA. There would, essentially, be no practical use for an Edca in the absence of the VFA which is the legal framework for the presence of US military personnel in military exercises and actual military responses under the MDT. Without them, the MDT is just a piece of paper. There are contrary views on this. 2. The VFA allows the US to provide a total-package approach on defense articles that

Update on TAD availment Atty. Rodel C. Unciano

Tax Law for Business

ursuant to Section 19 of Republic Act 11213 or the Tax Amnesty Act of 2019, taxpayers who have delinquent accounts for taxable year 2017 and prior years may avail themselves of the tax amnesty on delinquencies (TAD) within one year from the effectivity of the implementing rules and regulations of the Act. As Revenue Regulations (RR) 4-2019, the implementing rules and regulations of the law, became effective on April 24, 2019, the availment thereof would therefore be until April 23, 2020, which is barely over two months from today. As to what constitutes delinquent accounts, Revenue Memorandum Circular (RMC) 57-2019 previously clarified that tax liabilities covered by a Final Assessment Notice (FAN) which was timely protested yet withdrawn on or before April 24, 2019, are considered delinquent accounts from the lapse of the period to file a protest. Being delinquent, the accounts qualify for tax amnesty. If the protest was withdrawn on or before April 24, 2019, the tax liabilities shall be considered delinquent since it is treated as if no protest was ever filed. Thus, the taxpayer may avail

himself of TAD provided that the delinquent accounts pertain to taxable year 2017 and prior years, and the period to file protests lapsed on or before April 24, 2019. Can the taxpayer avail himself of TAD if the withdrawal of the protest was made only after the effectivity of RR 4-2019 on April 24, 2019? We may recall that the Bureau of Internal Revenue (BIR), under RMC 57-2019, previously clarified that the tax liabilities stated in the FAN cannot be considered delinquent account as of April 24, 2019, if the withdrawal of the protest was only made after

would be compatible with equipment, assets and systems that are already in place. There are again different views on this. Current military equipment, assets, and systems are largely patterned from and/or provided by the US. Through the years, the requirements for AFP modernization were addressed by the incremental procurement of defense articles that the Philippines has made after due diligence undertaken by relevant Philippine government agencies, specifically the Department of National Defense. The dollar amount for security assistance/security cooperation programs obtained from the US for the period 2016 to 2019 totals $554.55 million. This includes $267.75 million in Foreign Military Financing (FMF) for the procurement of defense articles for the same period. In addition, under the VFA, the Philippines is able to receive aftersales servicing in the form of maintenance packages that increase the articles’ value and lifespan. The US plans to spend over $200 million in 2020-2021 providing aircraft, training, equipment, and construction for the AFP, and more than $45 million in FMF. Without the VFA, the US Departments of State and Defense will be hard put to get funds from the US Congress for FMF and other defense assistance programs to the Philippines. 3. The VFA promotes interoperability between Philippine forces and law enforcement agencies and their US counterparts. Again, you will listen to contrary views, but for now... The MDB-SEB have approved joint activities between the militaries and law enforcement agencies of both countries through the years. The termination of the VFA may impact the upcoming FY 2020 activities, which the Philippine military and law enforcement agencies need to enhance their capabilities in countering threats to national security. There are some 319 activities lined up for this year. The absence of a VFA would result in a severe curtailment of defense engagements with the Philippines and the cancellation of cooperative defense activities in the Philippines, as it provides the legal framework for the presence of US Forces in the Philippines. The US will not operate without the VFA. 4. The VFA allows for continued support for addressing nontraditional security threats. Through the VFA, US Forces have

been instrumental in assisting the Philippines to combat nontraditional security threats, such as trafficking in persons, cyber attacks, terrorism, and illegal narcotics through trainings, joint exercises and exchange visits. The US has also provided support for humanitarian assistance and disaster response, as well as search and rescue operations. Disaster response is more than humanitarian in purpose; the new military doctrine assumes that developments in modern warfare partake in destructiveness of the nature of natural calamities like typhoons and earthquakes. So disaster response to natural or military-inflicted calamities must be in the same scale. US assistance on counterterrorism, especially on intelligence and capability-building, have proven to be vital. This support was crucial in enabling the Philippine security forces to prevail in the Battle of Marawi in 2017. Recently, the US Department of Defense support has enabled continued AFP operations to degrade Isis-East Asia-aligned militants in southern Philippines, as well as several successful operations to rescue British and Indonesian citizens taken hostage by the Abu Sayyaf Group. Curtailment of the Department of Defense support resulting from a terminated VFA would diminish the AFP’s immediate capabilities to degrade and deter terrorism, and respond to terrorist emergencies. There may be new developments on this, contrary to this view. On the other hand, Mr. chairman, the following is an enumeration of six areas where the indirect benefits of continuing the VFA are manifest, or, put differently, may be put at risk should the VFA be terminated: 1. The Philippines’s international standing as viewed by other US allied countries is maintained. While the VFA is a bilateral agreement between the Philippines and the US, there may be repercussions in the way other US-allied and/or US-friendly countries (e.g., Russia, Japan, Australia, South Korea, Singapore, and Israel) perceive and/or conduct their foreign relations with the Philippines should it be decided that the agreement be terminated. Philippine credibility to deliver on mutual military arrangements to maintain peace and stability in the region depend as much if not more on our American alliance. Behind us is a sense of American support.

April 24, 2019. The account cannot be considered delinquent as of April 24, 2019, since the FAN was duly protested and the protest was still in effect as of that period. Thus, the taxpayer is not qualified to avail himself of the TAD. Following the rationale of RMC 57-2019, TAD may no longer be availed of by the taxpayer if the withdrawal of the protest was only made after the effectivity of RR 4-2019. In a more recent turn of event, under RMC 11-2020, the BIR now clarified that even if the withdrawal of the protest was only made after the effectivity of RR 4-2019, the taxpayer may avail himself of TAD provided that the withdrawal is made on or before April 23, 2020, the last day of the one-year availment period of TAD, pursuant to the provisions of RA 11213 in relation to RR 4-2019. According to RMC 11-2020, the effect of the withdrawal of the protest to the FAN is that, as if no protest was ever filed. Thus, the assessment contained therein became final and executory upon the lapse of the 30-day period within which to file a protest. Being so, tax liabilities contained in the FAN, whose protest was subsequently withdrawn, are considered delinquent upon the effectivity of RR 4-2019. This is notwithstanding that the withdrawal of the protest

was only made subsequent to the effectivity of RR 4-2019. Thus, the taxpayer may avail himself of the TAD. Therefore, taxpayers who validly protested a FAN prior to the effectivity of RR 4-2019 on April 24, 2019, may now opt to withdraw the protest filed therein until April 23, 2020, and avail themselves of TAD accordingly. Note, however, that the FAN must have been received at the latest on March 25, 2019, to be considered delinquent as of April 24, 2019. This rule equally applies to Final Decision on Disputed Assessment duly appealed to the Commissioner of Internal Revenue before the effectivity of RR 4-2019. Pursuant to RMC 11-2020, the appeal may be withdrawn and the taxpayer may avail himself of TAD anytime until the expiry of the one-year availment period on April 23, 2020.

To be concluded.

The author is a partner of Du-Baladad and Associates Law Offices (BDB Law), a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at rodel.unciano@ bdblaw.com.ph or call 8403-2001 local 140.

A8 Tuesday, February 11, 2020

Senate pushes ‘review VFA’ position S By Butch Fernandez

@butchfBM

ENATE President Vicente Sotto III predicted on Monday that “twothirds” of the Senate will support a resolution he filed with Minority Leader Franklin Drilon and Sen. Panfilo Lacson, asking the President to reconsider outright abrogation of the RP-US Visiting Forces Agreement (VFA), and instead pursue its comprehensive review.

“At the very least, they [the ones who will not vote for the reso] will abstain,” said Sotto in a radio interview Monday, recalling that, for one, administration Sen. Christopher [Bong] Go earlier indicated to him he may just abstain. As for Sen. Ronald dela Rosa, whose visa cancellation by the US government is widely seen as the proverbial straw that broke the camel’s back in a series of US-related incidents angering President Duterte, Sotto thinks dela Rosa would not automatically back abrogation even if he’s a loyal Duterte supporter.

“The interoperability and modalities of cooperation are anchored on the VFA.”—Sotto

This developed as Senator Aquilino Pimentel III on Monday sponsored for plenary consideration Resolution 312 expressing the sense of the Senate “for President Duterte to reconsider his plan to withdraw from the Visiting Forces

5 virus-hit Pinoys on cruise ship; Taiwan in ban

HE number of Filipinos infected with the novel coronavirus aboard a luxury cruise ship anchored at the Yokohama Port in Japan rose to five, and 130 other passengers were infected as well, the Department of Foreign Affairs (DFA) said on Monday. In Manila, however, the first nCoV case reported in the country, a 38-year-old Chinese vacationer from Wuhan, has tested negative for the virus twice, and Philippine health authorities declared her fully recovered. The Diamond Princess docked off Yokohama has a total of 2,670 pas-

sengers, of which 537 are Filipino seamen, all of whom have been quarantined there since docking last February 4. The DFA said the infected Filipino seafarers “are now being treated in hospitals in Japan,” which apparently includes all the other infected passengers. It added that Japanese authorities are in constant communication with the Filipinos, while the Philippine Embassy is closely coordinating with Japanese officials, “to provide them all possible assistance.” Four Filipinos, who are all crew

NORTHEAST MONSOON AFFECTING THE COUNTRY as of 4:00 pm - February 10, 2020

members, are among the six newly confirmed cases of the virus, the DFA said. The cruise ship docked on Yokohama Bay and was placed under quarantine for 14 days to isolate and monitor the passenger and crew members on board the ship, CNN reported. Medical officials are going roomby-room to check each passenger’s health and temperature. It is unclear how many passengers may have disembarked from the cruise ship early. Another cruise ship, the World Dream, is docked in Hong Kong

harbor, which allowed passengers to disembark on Sunday after crew members tested negative for the virus. The Diamond Princess continues to report more cases of the virus on board, with the number of infected passengers rising to 70 on Sunday, of which at least 14 were identified as Americans. The virus officially dubbed 2019 nCoV, has now claimed more lives and infected more people than the SARS outbreak did in 2003. It has also spread to at least 26 countries outside China. See “5 virus-hit,” A2

PAL mounts special flight for stranded in Xiamen

HILIPPINE Airlines (PAL) mounted a special A321 flight to Xiamen to ferry 73 stranded overseas Filipino workers and 51 Chinese nationals holding permanent visas, including five children. The flight arrived at the Ninoy Aquino International Airport (Naia) Terminal 2 around 1:16 p.m. (Monday) with 124 passengers, including the 51 Chinese holders of permanent visas. Cielo Villaluna, PAL spokesman, said the special flight from Xiamen, PR335, has six cabin crew and two pilots. She said that after landing, the Airbus 321 immediately proceeded to the remote parking area where four PAL passenger buses brought them to Terminal 2. They underwent quarantine and immigration procedures. Quarantine doctors and nurses used several portable thermal scanners to scan every passenger to ensure that no one has fever before they were allowed to leave the airport terminal. Villaluna said the special flight departed Naia around 7:37 a.m., (Monday) and arrived in Xiamen around 9:45 a.m. It departed Xiamen around 11:05 a.m and landed at Naia around 1:16 p.m. She said the special flight is part of PAL’s public service to its foreign and local passengers. Meanwhile, the Bureau of Immigration chief, Jaime Morente, announced that 19 immigration officers who boarded vessels that carried passengers with travel history from China and its Special Administrative Regions have been put on home quarantine “as a preventive measure.” In a statement, Morente said the 19 boarded five different cruise ships that carried passengers who visited China, Hong Kong and Macau in the last 14 days, and arrived between January and February. “The 19 immigration officers did not exhibit any symptoms of the virus, and neither did the passengers that they inspected. They were assessed by competent personnel of the Bureau of Quarantine, who were part of the boarding teams that inspect arriving ships,” said Morente. “We are doing this as a preventive measure, to ensure that our officers are protected from the virus,” he added.

Recto L. Mercene

Agreement with the United States of America” while the Senate is conducting a review. In sponsoring Resolution 312, coauthored by Sotto, Drilon and Lacson, Foreign Relations committee chairman Pimentel III said the VFA provides for the regulatory mechanism by which US military and civilian personnel may visit the Philippines in connection with activities approved by the Philippine government. “Although the Resolution concedes that the President is the sole organ and authority in the external affairs of the country, it requests

the President to reconsider his planned abrogation of the VFA in the meantime that the Senate is considering a thorough review of the same,” Pimentel added. He recalled that at his panel’s February 6 hearing, Foreign Affairs Secretary Teodoro Locsin Jr. stated that termination of the VFA “must be weighed in terms of the overall national interest of the country.” Locsin listed four areas where direct benefits derived from the VFA are most manifest in respect of Philippine defense, military and security arrangements. See “VFA,” A2

RED CROSS THE QUICK HEIGHTENS BROWN FOX JU OVER THE PREPSTHE FORLAZY nCoV,DOG. PROVIDES LAZY DOG PPE FOR FRONTLINE STAFF

ITH the growing number of persons under investigation (PUI) for the 2019 novel coronavirus (2019-nCoV), the Philippine Red Cross (PRC) heightened its preparation by providing personal protective equipment (PPE) to its frontline staff and volunteers to ensure their safety while handling cases of suspected coronavirus. PRC Chairman and CEO Sen. Richard J. Gordon said, “The Philippine Red Cross is ready to respond to the coronavirus scare. As it is important to us that we guarantee the protection of our staff and volunteers who are handling suspected cases of coronavirus, we provide them with PPE sets for them to use during operations. We want our people to be protected, and for us, prevention is of highest importance.” The PRC uses two different types of PPEs. The basic set is the standard set used by frontline workers coordinating with the families of suspected patients, while the frontline set is for staff with direct contact with confirmed cases, such as those assigned in ambulances. These staff are required to

wear a three-layered clothing, double masks (medical N95 and surgical masks), and double gloves for extra protection. “We have prepositioned PPE sets to our key chapters with international airports, and to PRC regional warehouses because we want to make sure that the PPEs are available to chapters whenever needed. We will purchase more of this equipment because we’ll never know when the spread of the virus will stop. Better safe than sorry,” Gordon said. The PRC has been vigilant in monitoring suspected cases of nCoV in the country, and has been promoting health and hygiene activities, such as the proper washing of hands as part of its prevention intervention. A s part of its response mechanism, the PRC ensures that ambulance crew are properly trained in infection precaution. Welfare desks are also established in airports and in hospitals, while sufficient blood supply is ensured. Likewise, the PRC said it is ready to provide medical tents to key hospitals in order to provide additional space to manage patients.

The Philippine Red Cross (PRC), chaired by Sen. Richard J. Gordon, heightened its preparation in responding to coronavirus scare by providing its frontline staff and volunteers with adequate personal protective equipment (PPE) to ensure they are protected while handling cases of suspected coronavirus. The basic set is the standard set used by frontline workers coordinating with the families of suspected patients, while the frontline set is for staff who have direct contact with confirmed cases, such as those assigned in ambulances. These staff are required to wear a three-layered clothing, double masks (medical N95 and surgical masks), and double gloves for extra protection.

Fintech. . .

Continued from A1

environment for fintech investors. She cited, for instance, the digitization of payment and remittance transactions in many stores nationwide as ordered by the Bangko Sentral ng Pilipinas. She also cited the Department of Finance’s move to employ fintech to improve business-to-business

transactions, as well as the application of blockchain. “Through a whole-of-government approach and strong collaboration between government, industry and academe, we will be able to make the most of the advantages brought about by technological developments, embrace these new technologies, strengthen competitiveness and sustainability of industries, innovate, integrate into digital economy,” she concluded.

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In the ad material of Notice of filing of application for Alien Employment Permits published on December 12, 2019, the Company name of Ms. Yuli under INVECH TREASURE PROCESSING CORPORATION should have been read as VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES INC. and not as published. In the ad material published on January 18, 2020 the name of Ms. Lan, Cuiyin under KU XUAN INTERNATIONAL SERVICES INC. should have been read as Ms. Lan, Cuiyun 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

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MPTC opens completed first segment of Calax

XPRESSWAY holdings firm Metro Pacific Tollways Corp. fully opened on Monday the first segment of the Cavite-Laguna Expressway (Calax), a 10.7-kilometer stretch that runs from Mamplasan to the Santa Rosa-Tagaytay Interchange. Since it was partially opened last October, the segment has been serving roughly 10,000 vehicles per day. With the full opening of the segment, the road is expected to help curb traffic congestion in various portions of the Laguna province. “The end to end opening of the first segment of Calax is imperative to reduce traffic congestion in various parts of Laguna specifically Laguna Boulevard and Aguinaldo Highway. Now that all lanes are accessible, it serves as a viable option for motorists given the growing traffic demands in the area,” MPCala Holdings Inc. President Roberto V. Bontia said on Monday. The company has received approval from the Toll Regulatory Board to collect fees today, Tuesday. The rates are as follows: P47 for Class 1 vehicles (cars), P95 for Class 2 vehicles (buses and small commercial trucks) and P143 for Class 3 vehicles (large trucks or trailers). Bontia added that the company has started the construction of the Cavite side of the expressway, a 35-kilometer segment which runs from Silang to Kawit, and is seen to help improve traffic in those areas. This segment should be completed by 2022. Calax is envisioned to be a four-lane, 45-kilometer roll road that will connect the Manila-Cavite Toll Expressway (Cavitex) and the South Luzon Expressway (Slex). It will have eight interchanges—Kawit, Daang Hari, Governor’s Drive, Aguinaldo Highway, Silang, Santa Rosa-Tagaytay, Laguna Boulevard, Technopark and a Toll Barrier before Slex. The expressway will be equipped with Automatic License Plate Recognition System, which enables a “barrier-less entry.” It will also sport IP-based Speed Detection Cameras, CCTVs, and will feature various commercial establishments, such as gasoline stations, retail outlets, convenience stores and restaurants, among others. Lorenz S. Marasigan

By Lorenz S. Marasigan

@lorenzmarasigan

EDIA giant ABS-CBN Corp. maintained on Monday it has always complied with the laws governing its franchise and had secured all regulatory approvals for its operations.

In a statement after the Office of the Solicitor General filed a quo warranto case against it, the company said the allegations of the government lawyers “are without merit,” listing its defense against the case filed by the OSG. The listed multimedia conglomerate said all its offerings, including KBO, are allowed under its franchise, and that its Philippine Depositary Receipts (PDRs) were “evaluated and approved” by securities regulator prior to their offering. It further explained that its ownership of ABS-CBN Convergence is the similar track by which telco companies own their businesses, and that the

share transfers were above board, as they are “fully compliant” with the Public Telecommunications Act. KBO, it said, is one of the cheapest forms of entertainment in the country. The capital raised from the PDRs funded its services to “nearly 90 percent of the Philippines, and to our overseas Filipino workers all over the world.” It added that its telco arm helps policy-makers in improving Internet access in the country. “We reiterate that everything we do is in accordance with the law. We did not violate the law. This case appears to be an attempt to deprive Filipinos of the services of ABS-CBN,” the statement read.

expanded to Mining in 2010 and RE in recent years after Bitanga stepped down as president and chief executive officer in 2017. For its energy portfolio, the company wants to maintain its focus on solar rooftop projects. It also plans to tap opportunities on utility scale project developments, continuing existing projects within the umbrella of MRC, such as Sepalco’s 50-megawatt solar project, the 100-MW SPI Clark solar project and the 60-MW Naga solar project. Aside from RE projects, MRC Allied also wants to explore opportunities in sand export business. Last December, the company

signed a sale and purchase agreement with Shining Star Ningbo Import & Export Co. Ltd. (Shining Star) for delivery of sand. “Under the agreement, MRC will be delivering Shining Star natural river sand in bulk from a potential seller. The Contract will be effective for five years. The company will have a gross revenue of $760,000 per shipment,” MRC disclosed. Cosio said all these projects in the pipeline would transform the company into a bigger, bolder and future-ready company with investments in renewable energy. Lenie Lectura

Google heads to European Union court in episode one of $9-B trilogy

oogle’s decade-long antitrust fight with the European Union is set for more twists and turns this week as the Internet giant battles the first in a trilogy of fines that cost the company nearly $9 billion. The EU’s General Court in Luxembourg will host a three-day hearing starting on February 12, as the Alphabet Inc. unit seeks to topple a €2.4-million ($2.6 billion) penalty in 2017 for thwarting smaller shopping search services. Lawyers say the court clash will help set the scene for a broader crackdown on US tech giants by Margrethe Vestager, the EU’s competition commissioner. Apple Inc. is separately battling her massive back-tax order and Amazon.com Inc. is currently being investigated for potentially favoring its own products over those of third-party sellers on its platform. EU regulators will be hoping to repeat a 2007 victory against Microsoft Corp., a narrow win in a contentious investigation that led the company to settle another probe into Web browsers. The Microsoft case emboldened the EU’s small team of antitrust watchdogs to take on the likes of Intel Corp., Qualcomm Inc., and in 2010 to pick up complaints against Google. Defeat for the EU “will be a blow to its attempt for a new enforcement approach in the high-tech sector,” said Ioannis Kokkoris, a law and economics professor at Queen Mary University in London. “It will make it think twice how it can bring a successful case against conducts that are not clear cut in markets that are rapidly changing.”

ABS-CBN: We’ve complied with all laws on franchise, quo warranto filing ill-timed

MRC Allied to expand energy portfolio in ‘20 RC Allied Inc. is gearing up to expand its energy portfolio this year, its top official said Monday. MRC Allied President and CEO Augusto Cosio Jr. is leading the company’s new management team, whose vision and road map are consistent with MRC’s focus to become a major renewable-energy (RE) player. Listed in the stock market, MRC Allied was originally Makilala Rubber Corp. that was transformed into a property development company in 1995 through its former president, businessman Benjamin Bitanga. It has further

Tuesday, February 11, 2020

The European Commission’s path to punishing Google was circuitous. The company argued that tiny comparison shopping services didn’t rank high in search because they provided poor quality, that competition was only “a click away.” Regulators appeared to waver by seeking a settlement where Google would make changes to search display to end the probe without fines. That sparked furor from European publishers and politicians, and led to the EU reversing direction and moving toward a penalty after Vestager took charge in 2014. Since the first decision in 2017, the Dane has also levied separate fines for unfairly linking apps to Android software and for thwarting advertising rivals. Google is set to argue that the EU decision “is wrong on the law, the facts and the economics,” the Mountain View, Californiabased company said in an e-mailed statement. It will show “that we have improved quality and increased choice for customers” with shopping ads that aim to help people find the products they want and link retailers to potential customers.

‘Small army’

The EU and a small army of companies and other organizations cheering it on will argue the opposite, that Google’s actions smothered or hobbled nascent competitors that didn’t appear prominently enough in Google’s search or shopping ads to ever gain the crucial traffic needed for commercial success. The EU has

long been poised to move on similar complaints from local search service Yelp Inc., as well as travel and job search services. “This case is important for the commission” because it will test a so-called selfpreference theory of harm, whereby Google is accused of promoting its own services at the expense of those of rivals, said Aitor Ortiz, an analyst with Bloomberg Intelligence. It’s a “novel interpretation” of EU antitrust rules, and the final ruling may have implications not only for future probes against Google, such as searches in maps and restaurants, “but also for other platforms that may have a dual role and ‘self-prefer’ its own products.” Google and the commission will kick off the hearings on day one, followed by arguments from each of the groups supporting their side. The Brussels-based EU authority has nine groups on its side, including Europe’s main consumer advocacy group, the German government and comparison sites, such as Foundem, Kelkoo and Twenga. Google will call on only one flag-waver, the Computer and Communications Industry Association, which lobbies for the technology sector.

Long wait

Fighting on can drag out legal proceedings for years. More than 10 years after its fine, Intel is still waiting for a final ruling after winning a round at the EU’s top court that told a lower tribunal to reexamine the case. Bloomberg News

Monday saw the OSG filing a quo warranto case against the Lopez-led multimedia giant before the Supreme Court, asking it to revoke the already expiring franchise of ABS-CBN for allegedly violating its franchise. The quo warranto filing drew controversy, as it comes while the House of Representatives is being pressured to call hearings on various proposals to renew ABS-CBN’s franchise, which expires in March. Some lawmakers said Solicitor General Jose Calida’s move infringed on Congress’s power to grant franchises. In his “very urgent” motion, Calida alleged foreign investors “taking part”

in the ownership of mass media, citing the Philippine Constitution as his reference. He also said the set-top box for digital television—TV Plus—as well as the KBO network were “not approved by the National Telecommunications Commission.” President Duterte has publicly stated he wanted to remove the ABSCBN franchise from the Lopezes since he took office in 2016, when he started launching a tirade of accusations against the television titan. Despite this, solons have given assurances that the franchise hearing will proceed. “The Senate, the House of Repre-

sentatives and the Executive branch have assured the public that our franchise will be allowed to go through the proper renewal process in a fair manner. To that end, the filing of the quo warranto case is ill-timed given that Congress has already resumed its session,” ABS-CBN’s statement read. Time and again, media groups have cried foul against the Duterte administration’s “Marcosian game plan” to derail the franchise renewal of ABSCBN Corp., calling it a blatant attack to suppress press freedom marred with “putrid motives.” The Duterte administration insists the case has nothing to do with press freedom.

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PSE STOCK QUOTATIONS

February 10, 2020

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

ASIA UNITED 52.5 53 51.05 53.5 51.05 52.5 3,030 161,310.5 (1,050) BDO UNIBANK 150 150.1 155 155 150 150 1,186,320 178,471,590 (20,550,895) 85.05 86 86.1 86.1 84.7 86 1,176,990 100,784,697 32,202,650 BANK PH ISLANDS CHINABANK 25.05 25.1 25.05 25.1 25 25.05 93,800 2,351,285 (22,495) 6.5 8.49 7.02 8.47 6.21 8.47 500 3,412 CITYSTATE BANK EAST WEST BANK 11.16 11.22 11.2 11.4 11.12 11.16 33,700 379,632 ( 183,887.9997) METROBANK 58.8 59.35 60.8 61.15 58.6 58.8 2,354,160 140,901,806.5 (43,356,143) 19.02 20.7 19.02 19.02 19.02 19.02 200 3,804 PBCOM PHIL NATL BANK 32.1 32.4 32 32.5 31.8 32.4 871,400 27,927,705(27 ,167,699.9999) 51.75 54.4 52 52 51.85 51.85 1,210 62,915.5 PSBANK PHILTRUST 110.3 129.6 110.3 110.3 110.3 110.3 70 7,721 RCBC 20.7 20.95 20.75 20.75 20.7 20.7 6,600 136,670 173.2 174 175.1 179 172.9 173.2 158,970 27,534,239 (4,518,967) SECURITY BANK UNION BANK 59.5 60 61.4 61.4 59.5 59.5 7,740 462,938.5 (265,559.5) 18 18.48 18.1 18.48 17.98 18 2,181,500 39,268,870 COL FINANCIAL IREMIT 1.14 1.16 1.14 1.14 1.14 1.14 6,000 6,840 0.475 0.49 0.385 0.53 0.385 0.475 35,160,000 17,142,750 (123,100) MEDCO HLDG 0.77 0.8 0.78 0.79 0.77 0.79 71,000 55,780 NTL REINSURANCE PHIL STOCK EXCH 170.2 172 177 177 172 172 2,530 435,295 1,850 1,879 1887 1,887 1,887 1,887 15 28,305 SUN LIFE VANTAGE 1.08 1.09 1.08 1.08 1.08 1.08 76,000 82,080 82,080 INDUSTRIAL AC ENERGY 2.03 2.04 2.15 2.15 2.03 2.04 2,379,000 4,893,930 ( 268,889.9997) 1.18 1.25 1.18 1.18 1.18 1.18 30,000 35,400 ALSONS CONS ABOITIZ POWER 31.7 32.5 33.3 33.3 31.7 31.7 1,371,600 43,936,695 (11,286,895) 0.213 0.223 0.213 0.225 0.212 0.223 210,000 44,930 BASIC ENERGY FIRST GEN 21 21.2 21.2 21.3 20.7 21 74,300 1,563,995 (309,330) FIRST PHIL HLDG 66.8 67 66.85 67 66.8 66.8 84,030 5,613,340.5 (86,816) 279 281 288.8 288.8 279 279 169,980 47,764,420 208,040 MERALCO MANILA WATER 13.08 13.1 13.26 13.5 13.08 13.08 10,943,200 144,574,292 (47,301,098) 3.48 3.49 3.54 3.54 3.48 3.48 735,000 2,566,760 161,330 PETRON PETROENERGY 3.77 3.99 3.87 4 3.77 4 87,000 332,930 PHX PETROLEUM 11.68 11.9 11.62 11.9 11.62 11.9 37,200 440,170 (11,700) 30.6 30.65 31 31.5 30.65 30.65 178,600 5,505,925 (3,495,625) PILIPINAS SHELL SPC POWER 9.15 9.25 9.1 9.3 9.1 9.25 153,100 1,417,944 4,575 8.2 8.21 6.76 8.4 6.55 8.2 10,233,000 78,728,523 (5,818,589) AGRINURTURE AXELUM 2.89 2.9 3.02 3.08 2.89 2.89 2,935,000 8,603,970 302,110 88.25 90 88.3 88.3 88.25 88.25 90 7,945.5 BOGO MEDELLIN CENTURY FOOD 15.02 15.08 15 15.08 14.92 15.02 59,300 889,906 (111,474) DEL MONTE 4.56 4.7 4.7 4.7 4.6 4.6 5,000 23,200 8.8 8.92 9 9 8.75 8.8 1,025,900 9,030,092 215,935 DNL INDUS EMPERADOR 7.26 7.3 7.26 7.3 7.24 7.26 3,620,500 26,250,304 21,389,146 76.6 78 77.9 78 76.2 78 58,630 4,538,242.5 (946,345.5) SMC FOODANDBEV 0.6 0.61 0.61 0.65 0.6 0.6 3,516,000 2,172,120 6,200 ALLIANCE SELECT FRUITAS HLDG 2.02 2.03 1.96 2.07 1.95 2.03 68,873,000 139,000,350 2 ,719,409.9998 35.1 36.85 36.9 36.9 36.9 36.9 200 7,380 GINEBRA JOLLIBEE 190 191 193 194 190 190 514,380 98,102,618 (34,503,064) 9.95 10 10 10 9.8 10 49,278,000 489,860,522 (463,000) MAXS GROUP PEPSI COLA 1.83 1.85 1.82 1.86 1.82 1.84 1,570,000 2,889,930 (27,620) SHAKEYS PIZZA 9.3 9.35 9.46 9.46 9.25 9.3 35,500 330,654 (242,046) 5.15 5.29 5.29 5.29 5.29 5.29 3,000 15,870 (10,051) RFM CORP ROXAS HLDG 1.51 1.66 1.52 1.52 1.5 1.5 14,000 21,180 0.116 0.12 0.116 0.116 0.116 0.116 300,000 34,800 SWIFT FOODS UNIV ROBINA 154.8 155 160 160 154.1 155 393,330 61,040,125 (42,349,554) VITARICH 1.13 1.14 1.14 1.16 1.12 1.13 11,239,000 12,858,780 2.4 2.54 2.4 2.54 2.4 2.54 7,000 16,940 (0) VICTORIAS CONCRETE A 58.85 69.3 58.85 58.85 58.85 58.85 290 17,066.5 51 62.9 62.9 62.9 62.9 62.9 30 1,887 CONCRETE B CEMEX HLDG 1.41 1.42 1.47 1.48 1.4 1.41 9,408,000 13,322,110 (1,756,680) 12.02 12.2 12.36 12.36 12 12.02 119,900 1,450,906 (1,139,798) EAGLE CEMENT 8.53 8.7 8.6 8.6 8.46 8.53 3,230,300 27,619,687 (14,328,191) EEI CORP HOLCIM 10.18 10.24 10.14 10.4 10.14 10.24 2,368,100 24,237,602 (673,264) 14.6 14.68 14.6 14.6 14.38 14.6 192,900 2,804,848 (1,705,982) MEGAWIDE PHINMA 9.81 10 9.97 10 9.9 10 51,300 510,812 0.94 0.97 0.97 0.97 0.94 0.94 38,000 35,750 TKC METALS VULCAN INDL 0.98 1 0.99 1.01 0.98 0.98 420,000 415,600 CROWN ASIA 2.14 2.16 2.09 2.15 2.09 2.15 20,000 42,600 2.97 - 1.98 2.97 1.98 2.97 29,711,000 70,170,990 (141,200) EUROMED MABUHAY VINYL 3.11 3.24 3.22 3.27 3.2 3.2 4,000 12,910 (3,200) 4.71 4.89 4.71 4.71 4.71 4.71 10,000 47,100 PRYCE CORP CONCEPCION 30.15 31.9 30.15 30.15 30.15 30.15 3,300 99,495 87,435 GREENERGY 1.65 1.66 1.68 1.68 1.6 1.65 2,671,000 4,360,920 (49,360) 6.5 6.55 6.7 6.7 6.36 6.5 1,545,800 10,037,236 4,136,815 INTEGRATED MICR IONICS 1.25 1.3 1.3 1.34 1.25 1.33 273,000 350,110 5.21 5.29 5.29 5.29 5.29 5.29 100 529 PANASONIC SFA SEMICON 1.32 1.34 1.2 1.37 1.2 1.34 6,989,000 9,129,560 1,608,300 CIRTEK HLDG 10.16 10.22 10.44 10.64 9.8 10.16 4,268,400 43,645,859 (2,671,075)

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP 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

0.87 9.92 761 51 10.5 2.68 0.67 0.91 6.28 6.06 12 0.221 717 71.5 5.84 5.2 0.48 3.7 10.5 3.21 4.45 1.12 2.75 1.1 175 1,000 132.9 0.78 171.6 0.205 0.199

0.88 10.18 762 52 10.52 2.7 0.69 0.92 6.3 6.08 12.4 0.238 718 71.8 6.76 6.25 0.5 3.8 10.58 3.23 4.85 1.16 2.95 1.19 184 1,005 134 0.84 172.5 0.219 0.2

0.9 10.1 762 51.15 10.7 2.78 0.69 0.92 6.3 6.12 12.5 0.22 741 73.9 5.06 5.2 0.5 3.73 10.48 3.2 4.22 1.1 2.79 1.1 175 1003 134.5 0.77 166 0.204 0.194

0.9 10.32 762 52.3 10.7 2.78 0.69 0.92 6.36 6.15 12.5 0.24 741 74 5.85 5.2 0.5 3.8 10.64 3.24 4.4 1.18 2.8 1.1 175 1,010 135.5 0.84 173.1 0.223 0.199

0.87 10 751.5 50.8 10.44 2.7 0.67 0.88 6.16 6.03 12.02 0.208 717 70.5 5.06 5.2 0.48 3.7 10.46 3.18 4.21 1.1 2.79 1.1 175 1,000 132.9 0.77 166 0.204 0.193

0.88 10.18 761 52 10.5 2.7 0.67 0.91 6.28 6.06 12.4 0.221 717 71.5 5.84 5.2 0.5 3.75 10.5 3.23 4.4 1.17 2.8 1.1 175 1,000 134 0.81 172.5 0.205 0.199

6,710,000 13,200 191,230 1,074,460 3,764,200 4,148,000 48,000 365,000 3,697,500 3,207,500 28,500 2,340,000 203,830 1,349,020 6,500 5,600 92,000 7,365,000 1,568,000 14,829,000 5,000 226,000 3,000 4,000 60 715,495 249,140 425,000 5,780 530,000 620,000

5,926,210 132,606 144,850,980 55,558,992 39,725,898 28 11,230,150 32,600 330,960 23,290,711 19,448,342 355,322 516,950 147,336,660 96,513,205 35,774 29,120 44,970 27,546,700 16,533,896 47,642,200 21,300 257,690 8,390 4,400 10,500 716,521,720 33,357,775 336,480 969,472 113,820 121,770

8,800 30,669,495 (3,527,736.5) ,114,333.9998 (9,336,240) 825,204 (6,648,759) 2,542,245 (28,710,926) (52,240) (5,159,582) 23,419,160 11,750 509,176,395 (5,946,674) (855,844) -

PROPERTY ARTHALAND CORP 0.79 0.8 0.78 0.8 0.78 0.79 106,000 83,840 43.5 43.7 43.35 44.05 43.15 43.7 29,150,000 1,275,460,090 195,927,790 AYALA LAND ARANETA PROP 1.65 1.72 1.65 1.65 1.65 1.65 32,000 52,800 1.51 1.52 1.53 1.53 1.51 1.52 220,000 334,760 82,290 BELLE CORP A BROWN 0.63 0.65 0.63 0.66 0.62 0.63 528,000 333,970 CROWN EQUITIES 0.177 0.184 0.177 0.184 0.177 0.184 490,000 86,880 6.3 6.5 6.65 6.65 6.3 6.5 3,300 21,171 CEBU HLDG CEB LANDMASTERS 4.48 4.5 4.59 4.59 4.48 4.5 399,000 1,807,330 27,000 0.49 0.495 0.495 0.5 0.495 0.495 6,087,000 3,013,775 CENTURY PROP CYBER BAY 0.36 0.38 0.365 0.37 0.365 0.365 1,990,000 727,350 10,950 DOUBLEDRAGON 18.48 18.58 18 18.82 18 18.48 1,158,600 21,430,638 558,910 9.15 9.2 9.15 9.15 9.15 9.15 10,300 94,245 9,150 DM WENCESLAO EMPIRE EAST 0.385 0.39 0.39 0.39 0.385 0.39 160,000 62,350 1.44 1.45 1.44 1.46 1.44 1.45 5,922,000 8,581,420 (5,253,630) FILINVEST LAND GLOBAL ESTATE 1.05 1.07 1.04 1.09 1.04 1.05 308,000 322,880 14.7 14.86 14.72 14.86 14.62 14.86 985,300 14,494,552 656,244 8990 HLDG 1.03 1.04 1.09 1.09 1.01 1.03 2,591,000 2,670,760 PHIL INFRADEV CITY AND LAND 0.75 0.76 0.76 0.76 0.75 0.76 11,000 8,320 4.03 4.04 4.08 4.08 4.04 4.04 11,346,000 45,913,980 (25,363,270) MEGAWORLD MRC ALLIED 0.199 0.2 0.199 0.204 0.198 0.2 5,260,000 1,051,210 (74,000) 2.06 2.07 2.08 2.08 2.04 2.06 265,000 543,450 PRIMEX CORP ROBINSONS LAND 24.65 24.75 25.25 25.4 24.6 24.65 2,152,600 53,501,240 (29,079,580) PHIL REALTY 0.305 0.32 0.305 0.305 0.305 0.305 240,000 73,200 2.09 2.13 2.08 2.13 2.07 2.13 316,000 659,810 ROCKWELL STA LUCIA LAND 2.48 2.53 2.46 2.52 2.46 2.52 82,000 205,130 42.3 42.35 42.2 42.35 41 42.3 32,591,800 1,363,164,245 894,247,370 SM PRIME HLDG VISTAMALLS 5.22 5.23 5.44 5.44 5.23 5.23 18,400 96,672 SUNTRUST HOME 1.78 1.79 1.84 1.9 1.77 1.79 8,571,000 15,590,950 6.46 6.5 6.54 6.57 6.46 6.5 281,800 1,830,337 (881,613) VISTA LAND SERVICES ABS CBN 16.6 16.7 17.04 17.04 16.5 16.7 436,400 7,265,098 5.35 5.39 5.3 5.44 5.29 5.39 283,800 1,525,197 GMA NETWORK MANILA BULLETIN 0.64 - 0.41 0.64 0.405 0.64 74,940,000 44,222,850 10.56 13.8 13.8 13.8 13.8 13.8 2,400 33,120 MLA BRDCASTING GLOBE TELECOM 1,986 1,990 1980 1,999 1,970 1,986 24,800 49,224,285 7,403,630 PLDT 1,026 1,027 1064 1,064 1,025 1,027 100,310 104,153,510 (19,038,045) 0.045 0.048 0.047 0.048 0.045 0.048 7,500,000 343,900 APOLLO GLOBAL IMPERIAL 1.56 1.77 1.56 1.56 1.56 1.56 1,000 1,560 0.103 0.106 0.103 0.111 0.101 0.106 9,220,000 981,830 300.0001 ISLAND INFO ISM COMM 2.1 2.11 2.42 2.55 2.05 2.11 104,424,000 224,425,360 2,217,830 JACKSTONES 1.78 2.08 1.76 1.76 1.76 1.76 1,000 1,760 2.17 2.18 2.2 2.25 2.18 2.18 1,014,000 2,224,100 230,180 NOW CORP TRANSPACIFIC BR 0.245 0.249 0.248 0.25 0.245 0.245 1,180,000 290,550 3.38 3.4 3.53 3.53 3.31 3.38 3,076,000 10,489,120 30,420 PHILWEB 2GO GROUP 8.95 9 9 9 8.95 9 6,300 56,545 (25,185) 17.5 18 17.5 18 17.5 18 200 3,550 1,750 ASIAN TERMINALS 4.52 4.53 4.67 4.67 4.51 4.53 872,000 3,984,960 54,360 CHELSEA CEBU AIR 80 80.6 79.65 82.45 79.6 80 33,930 2,715,558.5 (628,746) 126 126.6 127.5 128 126 126 929,910 117,373,892 (6,016,188) INTL CONTAINER LBC EXPRESS 12.12 12.9 12.14 12.98 12.12 12.9 2,800 34,426 0.87 0.94 0.87 0.96 0.87 0.94 59,000 51,910 LORENZO SHIPPNG MACROASIA 10.96 10.98 10.9 11.3 10.6 10.98 2,723,400 29,986,352 (833,510) METROALLIANCE A 0.99 1.06 1.07 1.07 0.98 1.06 7,000 7,070 0.97 1 0.98 0.98 0.98 0.98 2,000 1,960 METROALLIANCE B PAL HLDG 7.15 7.2 7.4 7.4 7.15 7.15 7,500 53,970 1.17 1.18 1.19 1.19 1.13 1.18 637,000 733,780 HARBOR STAR ACESITE HOTEL 1.34 1.4 1.34 1.41 1.34 1.34 15,000 20,850 BOULEVARD HLDG 0.053 0.054 0.053 0.061 0.053 0.054 96,380,000 5,461,050 20,500 1.81 2 1.8 1.8 1.8 1.8 1,000 1,800 DISCOVERY WORLD WATERFRONT 0.57 0.58 0.57 0.58 0.55 0.58 1,119,000 637,690 0.59 0.6 0.59 0.6 0.59 0.6 486,000 286,800 STI HLDG BERJAYA 2.67 2.68 2.7 2.7 2.61 2.67 208,000 547,400 BLOOMBERRY 8.99 9 9.06 9.18 8.95 9 7,163,900 64,561,651 19,200,893 2.08 2.1 2.05 2.1 2.03 2.1 34,000 70,390 PACIFIC ONLINE LEISURE AND RES 2.1 2.11 2.15 2.15 2.11 2.11 437,000 932,940 2.95 2.96 2.96 2.96 2.96 2.96 93,000 275,280 MANILA JOCKEY PH RESORTS GRP 3.6 4.5 4.5 4.5 4.5 4.5 2,000 9,000 0.485 0.49 0.49 0.49 0.485 0.49 3,720,000 1,821,700 (269,500) PREMIUM LEISURE 8 8.96 8 8 8 8 2,000 16,000 PHIL RACING ALLHOME 9.81 9.98 10.02 10.02 9.8 9.98 54,500 536,186 (41,009) 1.87 1.88 1.91 1.91 1.87 1.88 931,000 1,751,550 (171,180) METRO RETAIL PUREGOLD 38.55 38.75 38.65 39.05 38.25 38.55 1,009,900 39,007,650 ( 311,754.9996) 75.85 76.7 77.55 77.55 76.15 76.7 165,140 12,779,747 (12,053,188) ROBINSONS RTL 146 148.5 146 146 146 146 80 11,680 11,680 PHIL SEVEN CORP SSI GROUP 2.15 2.16 2.16 2.16 2.13 2.15 1,402,000 3,012,860 1,283,510 18.8 18.82 18.8 18.8 18.36 18.8 728,900 13,551,010 1,920,626 WILCON DEPOT APC GROUP 0.395 0.4 0.39 0.4 0.39 0.395 340,000 133,950 7.6 7.8 7.5 7.83 7.45 7.8 2,800 21,195 EASYCALL GOLDEN BRIA 421 427 423.4 423.8 421.6 421.6 500 211,214 PAXYS 2.77 2.96 2.96 2.96 2.96 2.96 2,000 5,920 0.325 0.33 0.325 0.33 0.32 0.33 4,570,000 1,479,650 PRMIERE HORIZON SBS PHIL CORP 8.85 8.87 8.87 8.87 8.87 8.87 5,000 44,350 MINING & OIL ATOK 10.08 10.18 10.88 10.88 9.5 10.18 16,300 155,406 1,000 1.02 1.04 1.01 1.02 1.01 1.02 372,000 376,590 APEX MINING ABRA MINING 0.0014 0.0015 0 0.0015 0.0015 0.0014 0.0015 798,000,000 1,134,900 (35,000) 2.35 2.4 2.38 2.38 2.38 2.38 10,000 23,800 ATLAS MINING CENTURY PEAK 2.98 3 2.99 3.04 2.98 3 725,000 2,172,820 DIZON MINES 6.45 6.46 6.45 6.47 6.45 6.46 7,500 48,433 1.3 1.32 1.43 1.43 1.28 1.3 12,261,000 16,580,210 (8,210,930) FERRONICKEL GEOGRACE 0.206 0.207 0.207 0.209 0.198 0.206 280,000 57,920 0.093 0.095 0.094 0.095 0.094 0.095 110,000 10,350 LEPANTO A MANILA MINING A 0.0077 0.008 0 0.0078 0.0078 0.0078 0.0078 3,000,000 23,400 MANILA MINING B 0.0077 0.009 0.009 0.009 0.009 0.009 2,000,000 18,000 0.72 0.78 0.77 0.78 0.77 0.78 6,000 4,630 MARCVENTURES NIHAO 0.98 1.02 0.99 1.03 0.99 1.02 18,000 17,900 (2,030) 2.52 2.55 2.74 2.74 2.5 2.55 12,681,000 32,755,930 (14,954,140) NICKEL ASIA OMICO CORP 0.45 0.465 0.45 0.465 0.45 0.465 60,000 27,750 0.64 0.66 0.66 0.66 0.64 0.66 213,000 138,550 ORNTL PENINSULA PX MINING 2.83 2.85 2.85 2.85 2.79 2.83 107,000 299,910 11,360 SEMIRARA MINING 20.25 20.3 20.8 20.8 20.2 20.3 376,400 7,655,255 (7,163,355) 0.0052 0.0054 0 0.0052 0.0052 0.0052 0.0052 9,000,000 46,800 UNITED PARAGON ACE ENEXOR 7.4 7.5 7.5 7.6 7.3 7.5 159,900 1,183,955 (84,534) 0.01 0.011 0.011 0.011 0.01 0.01 5,200,000 57,000 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 21,500,000 236,500 (220,000) PHILODRILL 0.01 0.011 0.01 0.011 0.01 0.01 27,600,000 291,000 8.42 8.5 8.67 8.67 8.3 8.5 209,600 1,790,935 90,828 PXP ENERGY PREFFERED AC PREF B1 501 505 505 505 505 505 500 252,500 101.1 103.2 103.2 103.2 103.2 103.2 280 28,896 ALCO PREF B AC PREF B2R 493 504 504.5 504.5 504.5 504.5 100 50,450 100.5 100.9 100.9 100.9 100.5 100.9 65,150 6,559,235 DD PREF SMC FB PREF 2 1,000 1,010 1000 1,000 1,000 1,000 850 850,000 FGEN PREF G 107 107.8 107.8 107.8 107.8 107.8 1,080 116,424 482.6 500 500 500 500 500 20 10,000 GLO PREF P GTCAP PREF A 970 990 970 990 970 990 1,670 1,653,100 972 980 980 987 980 986 5,420 5,311,730 GTCAP PREF B MWIDE PREF 100 100.2 100 100.2 100 100 1,130 113,122 50,100 PNX PREF 3A 101.5 102.3 102.3 102.3 102.3 102.3 500 51,150 51,150 106.7 109.1 109 109 109 109 3,240 353,160 26,160 PNX PREF 3B PNX PREF 4 1,031 1,045 1032 1,032 1,031 1,031 500 515,540 1,050 1,051 1050 1,050 1,050 1,050 16,900 17,745,000 PCOR PREF 3A SMC PREF 2C 77.1 77.5 77.5 77.5 77.1 77.1 2,630 202,801 75.25 75.6 75.5 75.5 75.3 75.5 2,440 183,822 SMC PREF 2D SMC PREF 2E 75.05 75.2 75.2 75.2 75 75.05 64,000 4,804,450 SMC PREF 2F 76.5 76.7 76.5 76.5 76.5 76.5 8,600 657,900 75.1 76 75.2 75.2 75.05 75.05 6,670 500,613.5 SMC PREF 2H SMC PREF 2I 75.8 75.9 76 76 75.8 75.8 960 72,920 PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

15.32 5.2

15.58 5.24

16 5.08

16 5.25

15.32 5.08

15.4 5.2

591,000 513,000

9,100,876 2,654,240

WARRANTS

LR WARRANT 1.08 1.1 1.08 1.1 1.08 1.1 109,000 117,820

SMALL & MEDIUM ENTERPRISES ITALPINAS KEPWEALTH XURPAS

3.38 9.84 0.8

3.49 9.87 0.81

3.55 9.9 0.82

3.55 9.98 0.82

3.32 9.69 0.79

3.49 9.88 0.8

488,000 126,500 837,000

1,666,690 1,235,922 670,180

EXHANGE TRADE FUNDS FIRST METRO ETF

112

113

113.3

111.8

112

8,880

999,375

(1,276,120) (2,409,500) 349,000 (37,563) 7,240 138,724

www.businessmirror.com.ph

Local 7-11 franchise to bring Seven Bank in PHL By VG Cabuag

@villygc

HILIPPINE Seven Corp., which holds the master franchise of 7-Eleven convenience stores in the country, is set to bring Seven Bank’s white automated teller machines (Atms) in the country. In its disclosure, the company said it signed a deal with Pito AxM Platform Inc., a wholly owned subsidiary of Seven Bank Ltd. of Japan. Under the deal, the company will deploy cash recycling machines in its stores. It will begin deploying

the white atms in June and hopes to equip all of its stores with such kind of money machine in the next few years. The said machines can dispense cash deposited there by 7-Eleven stores and also the customers of

the platform’s banks. Seven Bank is the world’s largest operator of ATMs, surpassing 25,000 machines in its home country alone. Jose Victor P. Paterno in June last year already discussed the possibility of the convenience store operating and having its own white ATMs in its stores. Paterno said it takes time to talk with the local banks. The 7-Eleven stores itself can use the ATMs themselves by depositing their sales money into the machine instead of hoarding the cash in the stores, a risk that can attract robbers. “If we want, we could have operated tomorrow. We should have

an agreement with different banks. After the agreement, there’s still a system integration. So it takes time,” Paterno said, adding that it still has to strike a deal with a bank. For starters, Paterno said it wants to operate some 300 white ATMs, within the Metro Manila area. The company wants people to visit their stores buying their products or using their services, such as the money transfers or electronic mobile phone loads to drive in foot traffic ahead of other stores. “Over the past year, we’ve realized that serving the customers’ needs and giving them more reasons to visit the store leads to higher consumption,” Paterno said.

ERC sets hearings on NGCP’s petition for Lapu-Lapu project By Lenie Lectura

@llectura

HE Energy Regulatory Commission (ERC) is set to start hearings on the application of the National Grid Corp. of the Philippines (NGCP) for the approval of the proposed Lapu-Lapu 230-kilovolt (kV) substation project. The agency has set the initial hearing on February 26. Three more hearings are scheduled next month on the 5th, 12th and 19th. The ERC said these hearings will determine NGCP’s compliance with the jurisdictional requirements, expository presentation, pretrial conference and presentation of evidence. Also, this is meant to give interested parties, if any, an opportunity to file their respective verified petitions to intervene. In December last year, NGCP filed an application for the approval of the implementation of its Lapu-Lapu 230-kV substation project, with prayer for issuance of provisional authority. “The proposed project is intended to fully support the government’s policy to ensure the quality, reliability, security and affordability of the supply of electric power

by accommodating the increasing demand for electricity in the island of Mactan; provide another corridor of power equivalent to an N-1 provision and increase import capacity of power from Cebu, and improve the reliability of the electrical system of the Visayas grid,” it said. The Cebu-Mandaue-Lapu-Lapu 138-kV transmission corridor serves as the bulk power delivery system, involving major substations in Cebu and Mactan Islands. However, due to the significant increase in energy consumption in Mactan Island brought about by the operation of the new Mactan International Airport terminal, the construction of new hotels and resorts, condominium buildings, and other large industries and establishments, the projected load growth of Mactan Island based on 2019 demand forecast is now significantly higher compared to the 2011 forecast. NGCP said the significant increase in the demand forecast would cause the 138-kV submarine cable to overload. Also, 138-kV submarine cable is no longer sufficient to accommodate the projected load growth of Mactan. The NGCP thus proposed to

TransUnion launches new solution to prevent fraud, identity theft in PHL By Roderick L. Abad @rodrik_28 Contributor

INCE digitization comes with risks, such as data stealing, TransUnion Philippines announced on Monday the launch of its fraud and identity suite of solutions called “IDVision with iovation” in the country. “While technology has made transacting digitally more convenient and instantaneous, it has also provided another channel for fraudsters with schemes in like loan applications using fake documents, identity theft, money laundering and synthetic fraud,” said Pia Arellano, president and chief executive officer (CEO) of TransUnion Philippines. Identity verification and fraud prevention are becoming a top priority for businesses. In fact, the TransUnion commissioned Aite Group Study 2019, dubbed “Current State Assessment: Global Analytics Ecosystem,” revealed the challenges faced by the financial services and insurance industries. Based on the survey, 36 percent of respondents said one of their company’s top priorities in the next 12 to 24 months is to “improve new customers’ or members’ account-opening and onboarding digital experience.” This is to “reduce the risk of fraudulent accounts being opened” for 44 percent of the participants. With these concerns, IDVision with iovation uses deep learning technologies and validates a consumer identity through a wide mix of data sources, including credit and public records, enabling businesses to provide consumers with meaningful experiences. It can also help increase financial inclusion by evaluating a broad set of data to make a transaction decision and through digital authentication methods that allows

for consumer access from anywhere, including remote locations. Globally, IDVision with iovation contains more than 1 billion consumer records and intelligence based on experience with over 6.5 billion devices providing a comprehensive picture of each person. Amid these gigantic amount of data, this offering can analyze unique identifiers like name, date of birth, ID document numbers, address, phone number, device, e-mail and IP address. This helps prevent more than 200 million fraudulent transactions annually worldwide by evaluating associated accounts and devices, past device history and suspicious device behavior. IDVision with iovation, likewise, can use a device as a consumer authenticator by ensuring it is authorized to access an account. In the Philippines, it enables consumers to use their smartphones to take a picture of their Photo ID during the digital onboarding process. A live selfie is then required of the applicant. Since such images are verified to make sure they are real and not impostors, IDVision with iovation is indeed capable of authenticating a majority of the official government IDs, such as driver’s licenses and passports of over 200 countries. “In an increasingly digital world, businesses that make it easier for consumers to interact with them, and access their goods and services, will be the ones that succeed,” continued Arellano. “By verifying a transaction against a broad set of personal and digital identity data through the combination of traditional data science with artificial intelligence and machine learning, we can stay one step ahead of criminals.”

implement outright the 230-kV transmission line capacity. “A system collapse is imminent and may be experienced due to lack of N-1 provision, if the project will not be undertaken,” it said. “Also, the island of Mactan will be deprived of additional capacity necessary for its projected demand,

mutual funds

thereby retarding economic growth if the project will not be undertaken,” it added. The estimated implementation period of the project is 55 months, it noted, adding, “thus, it is necessary for NGCP to immediately commence the implementation of the proposed project.”

February 10, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities ALFM Growth Fund, Inc. -a 243.32 -10.1% -1.24% -2.73% -3.4% ATRAM Alpha Opportunity Fund, Inc. -a 1.266 -19.95% -3.35% -4.71% -8.39% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.4042 -19.07% -5.51% -5.52% -7.45% Climbs Share Capital Equity Investment Fund Corp. -a 0.8468 -11.96% n.a. n.a. -5.61% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8223 -7.34% n.a. n.a. -3.18% First Metro Save and Learn Equity Fund,Inc. -a 5.1222 -9.23% -0.06% -2.63% -3.87% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.817 -9.05% -3.88% n.a. -4.29% MBG Equity Investment Fund, Inc. -a 96.11 -22.1% n.a. n.a. -6.99% PAMI Equity Index Fund, Inc. -a 49.1678 -7.6% 0.77% n.a. -4.12% Philam Strategic Growth Fund, Inc. -a 512.79 -7.33% -0.09% -2.32% -3.75% Philequity Alpha One Fund, Inc. -a,d,8 1.0002 n.a. n.a. n.a. -2.9% Philequity Dividend Yield Fund, Inc. -a 1.2423 -7.26% 0.61% -1.33% -3.47% Philequity Fund, Inc. -a 36.4581 -7.4% 1.5% -1.15% -3.8% -6.68% n.a. n.a. -3.19% Philequity MSCI Philippine Index Fund, Inc. -a,1 0.9856 Philequity PSE Index Fund Inc. -a 5.0108 -6.78% 1.47% -0.52% -4.07% Philippine Stock Index Fund Corp. -a 836.68 -6.82% 1.41% -0.68% -4.06% Soldivo Strategic Growth Fund, Inc. -a 0.7921 -13.9% -2.32% -4.51% -6.96% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.9945 -8.44% 0.59% -1.48% -5.1% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9602 -7.08% 1.26% n.a. -4.06% United Fund, Inc. -a 3.5199 -6.25% 2.56% 0.27% -3.65% Exchange Traded Fund 0.24% -4.03% First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 112.2449 - 6.52% 2.1% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.0075 0.67% 3.87% 0.14% -2.03% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4193 16.25% 9.86% n.a. 2.94% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5364 -11.77% -3.76% -4.82% -1.69% ATRAM Philippine Balanced Fund, Inc. -a 2.108 -9.32% -2.66% -2.57% -3.35% First Metro Save and Learn Balanced Fund Inc. -a 2.5726 -4.23% 0.91% -2.45% -2.24% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2202 n.a. n.a. n.a. -3.63% N.S. N.S. N.S. N.S. N.S. Grepalife Balanced Fund Corporation -a NCM Mutual Fund of the Phils., Inc. -a 1.938 0.71% 1.87% -0.1% -1.28% PAMI Horizon Fund, Inc. -a 3.713 1.26% 0.73% -1.09% -2.01% Philam Fund, Inc. -a 16.6151 0.05% 0.68% -1.17% -2.04% Solidaritas Fund, Inc. -a 2.0858 -3.97% 0.41% -0.33% -1.88% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.7419 -2.95% 1.03% -0.89% -3.15% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 0.9957 -1.02% n.a. n.a. -1.97% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 0.9645 -3.92% n.a. n.a. -3.2% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.9601 -4.32% n.a. n.a. -3.33% Sun Life Prosperity Dynamic Fund, Inc. -a 0.9375 -3.97% 0.28% -2.11% -3.83% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03865 8.35% 2.95% 1.96% 1.1% PAMI Asia Balanced Fund, Inc. -a $1.0326 5.98% 4.05% 0.67% -0.51% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.9998 12.39% 7.65% 4.31% 2.28% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1458 8.61% 4.53% n.a. 1.51% Bond Funds Primarily invested in Peso securities 358.44 3.84% 2.66% 2.21% 0.18% ALFM Peso Bond Fund, Inc. -a ATRAM Corporate Bond Fund, Inc. -a 1.9072 1.9% 0.48% -0.68% 0.27% Cocolife Fixed Income Fund, Inc. -a 3.132 4.85% 5.13% 5.17% 0.5% Ekklesia Mutual Fund Inc. -a 2.2339 4.09% 2% 1.74% 0.4% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3614 5.9% 2.15% 1.22% 0.1% Grepalife Fixed Income Fund Corp. -a P N.S. N.S. N.S. N.S. N.S. Philam Bond Fund, Inc. -a 4.3817 11.66% 2.05% 1.37% 0.2% Philequity Peso Bond Fund, Inc. -a 3.7796 5.52% 2.75% 1% -0.23% Soldivo Bond Fund, Inc. -a 0.9676 6.21% 1.04% 0.34% -0.05% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0783 8.67% 3.91% 2.12% 0.08% Sun Life Prosperity GS Fund, Inc. -a 1.6945 7.53% 3.28% 1.51% -0.39% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $470.77 4.49% 2.65% 2.7% 0.54% ALFM Euro Bond Fund, Inc. -a Є220.46 2.96% 1.76% 1.28% 0.33% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2121 5.99% 3.08% 2.3% 0.41% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 4% 1.45% 1.45% 0.78% Grepalife Dollar Bond Fund Corp. -a N.S. N.S. N.S. N.S. N.S. PAMI Global Bond Fund, Inc -a $1.1051 5.64% 1.28% -0.2% 0.9% Philam Dollar Bond Fund, Inc. -a $2.4391 10.11% 3.5% 2.83% 1.47% Philequity Dollar Income Fund Inc. -a $0.0607128 5.93% 2.33% 1.87% 0.66% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2433 11.17% 3.24% 2.78% 2.14% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 126.23 3.87% 2.9% 2.21% 0.36% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.0257 2.47% n.a. n.a. -0.06% Philam Managed Income Fund, Inc. -a 1.2531 5.71% 2.98% 1.62% -0.29% 3.64% 2.92% 2.42% 0.31% Sun Life Prosperity Money Market Fund, Inc. -a 1.2685 Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0392 2.03% n.a. n.a. 0.19% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $1 n.a. n.a. n.a. 1.01% 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

PDIC assets sold in 2019 nearly double at P277M

he Philippine Deposit Insurance Corp. (PDIC) sold a total of 559 properties in 2019 for an aggregate amount of P277 million in a bid to clean up the big volume of asset portfolio from closed banks under liquidation. In a statement on Monday, PDIC said the number of properties sold from January to December last year is 46 percent more compared to the total 383 properties sold in 2018. The total sale of properties in 2019 represented 34.9 percent of the total disposal price of assets offered for sale in the public biddings amounting to P792.8 million. A premium of P69 million was also generated from the sale over the aggregate minimum disposal price of P208 million for properties offered for sale. “Part of the responsibility of PDIC as receiver of closed banks is to liquidate the banks’ assets to be able to settle claims of creditors and uninsured depositors as quickly and efficiently as possible, either through public biddings or negotiated sale. We continuously improve and innovate our services for the benefit of our customers and stakeholders. The conversion of non-cash portfolio is a major corporate initiative under our Strategy Map,” PDIC President and CEO Roberto B. Tan said. To dispose assets under its care as receiver of closed banks, PDIC pursued aggressive asset marketing through various on-ground and online channels. Proceeds from asset disposal initiatives are added to the funds held in trust for closed banks to help increase the chances of closed bank creditors and uninsured depositors to recover their trapped funds, according to a statement from the PDIC. Creditors’ claims are settled by the PDIC as liquidator, in accordance with the rules on concurrence and preference of credits. The assets were disposed of via three regional public biddings held in Davao and Cebu City and 10 public biddings held in Manila in 2019 and consisted mostly of residential, commercial and industrial lots, some of which have improvements. For 2019, sales also included a lahar lot, a commercial condominium unit and a number of motor vehicles. Unsold assets from public biddings may be acquired by interested parties via negotiated sale. Established on June 22, 1963, PDIC provides depositor protection and helps maintain stability in the financial system by providing deposit insurance. Bernadette D. Nicolas

Banking&Finance BusinessMirror

Tuesday, February 11, 2020 B3

DOF stands pat on stance FIRB only sole source of incentives By Bernadette D. Nicolas @BNicolasBM

HE Department of Finance (DOF) is standing by its position that the power to grant incentives be transferred to the Fiscal Incentives Review Board (FIRB) and no longer in investment promotion agencies (IPAs). This comes as the Senate is expected to soon decide on the fate of the Corporate Income Tax and Incentives Rationalization Act (Citira) bill.

On Monday, Finance Undersecretary Karl Kendrick T. Chua emphasized the need for the expanded coverage of FIRB’s functions, including the approval of tax incentives for private businesses. This as Senate Ways and Means Committee Chair Pia S. Cayetano is expected to sponsor the bill on Tuesday. “The system of having different packages of incentives and processes, as well as autonomous approval points, has created confusion among

potential investors and reduced accountability in the grant of tax incentives,” said Chua. “To promote fairness in the tax system, Citira not only seeks to harmonize the package of tax incentives, but to also put more order, clarity and accountability in the process of granting incentives through the FIRB.” The FIRB, an existing interagency committee chaired by the DOF, currently grants tax subsidies to government-owned or -controlled corporations.

Chua noted there are 13 IPAs in the Philippines that are largely autonomous, each with its own mandate, menu of tax incentives and authority to grant them largely without the approval or knowledge of the DOF. Moreover, he said the FIRB will also serve as the oversight body for the country’s 13 existing investment promotion agencies to ensure that registered business enterprises receiving tax breaks subsequently deliver the jobs and investment that they had promised when they sought such fiscal incentives from their respective IPAs. “The FIRB is designed to promote the Filipino people’s interests by ensuring two things: first, that incentives granted will lead to the creation of more jobs for Filipinos; and second, that opportunities to apply for incentives are made available to MSMEs [micro, small and medium enterprises], many of which are currently unaware that they can apply for such tax incentives,” he said. Further, Chua said the FIRB will also conduct regular monitoring and evaluation to assess businesses’ performance receiving incentives. “In case they fail to meet their employment, investment and other targets, incentives may be withdrawn and put to better use,” he said.

“The FIRB will also promote the participation of a broader range of businesses by ensuring that the single and generous package of incentives under Citira is clearly communicated to a wide range of potential investors, especially Filipino MSMEs,” he added. While 3,150 favored corporations now pay discounted corporate income tax (CIT) rates of 6 percent to 13 percent only, almost a million SMEs, which employ a majority of Filipino workers, pay the regular CIT rate of 30 percent, which is the highest in the region. Chua noted that the FIRB is not a new idea. “Several proposals have been made in past Congresses, including the bills of Albay Rep. [Joey] Salceda in 1998 and Sen. [Ralph] Recto in 2001.” He pointed out the FIRB being proposed now is similar to Malaysia’s National Committee on Investment (NCI), adding that Malaysia has 33 IPAs across the country. “In the past, there was some confusion and delay in the grant of incentives because of so many IPAs,” he said. “Thus, in order to streamline the application process, ensure better targeting and enhance the link between incentives and national priorities, the Malaysian government established the NCI in the year

2000 and enhanced it in 2019. It now serves as a high-level committee in charge of approving tax incentives.” Last month, the Philippine Economic Zone Authority (Peza) submitted to Congress its proposed enhancements to CITIRA. The proposal was transmitted upon the request of legislators, who will convene in a bicameral conference once the measure is passed by the Senate. However, the Peza deleted in its proposal the whole Chapter III of the CITIRA bill creating the FIRB. An in petitioning for the removal of the FIRB, Peza wants to return the authority to confer and administer incentives to IPAs, including it. The FIRB is chaired by the finance chief, assisted by the secretaries of trade, of socioeconomic planning, of budget and the executive secretary. Salceda, Chairman of the House Ways and Means Committee, earlier said the FIRB is the “people’s seat at the table” and that “no FIRB makes CITIRA meaningless.” The Citira bill, also known as Package 2 of the administration’s Comprehensive Tax Reform Program, was approved by the House last year. Apart from rationalizing incentives, the Citira bill will reduce CIT to 20 percent, from 30 percent at present, which is the highest rate in the region.

Six money myths that will change the way you think about your finances

n the information age, you’ll come across droves of “advice” on how you can achieve success. While some of these have their merits, not all of them are based on factual evidence. Rather, they’re purely anecdotal and, therefore, cannot be applied in every situation. In this post, we’ll separate fact from fiction. Whether you are a parttime employee or a branch manager of an established business, below are six money myths that will reform your financial habits. 1. Renting is a waste of money. Why rent something and utilize it temporarily, when you can purchase it and own it forever? The answer boils down to two words: opportunity cost. A big purchase, like a house for instance, requires you to shell out a huge sum of cash for the down payment. In most cases, this means shutting your doors on all other opportunities to invest in something profitable, like the stock market or a small business. 2. You’re too young to start saving.

Fitz Gerard Villafuerte

personal finance So, you’ve learned that your affluent friend or relative didn’t start saving until they were in their 30s —so what? Remember that, while it’s never too early to start saving, you can be too late. And at that point, it might be nigh impossible to attain financial independence. Start now while you still have a few responsibilities on your shoulders. Don’t wait for a reason to start doing so, such as purchasing a brandnew car or suddenly becoming the breadwinner of your own family. 3. You don’t earn enough money to start saving. Granted, Filipinos are burdened with the high costs of living and lower compensation as compared to our Asian neighbors. But think about it: while you’re here reading this post,

millions of Filipinos don’t even have internet access. Stop making excuses such as “I’m currently underemployed” or “I’ll start saving once I get that big promotion.” Even if you save at least 100 pesos every workday, that still amounts to roughly 2,000 pesos a month or 24,000 pesos a year. 4. You always get your money’s worth. A 500-peso meal isn’t always more filling or satisfying than a 100-peso lunch elsewhere. The same can be said for branded medication, which aren’t necessarily more effective than generic products. In short, you don’t always get your money’s worth. This can be partially true for some products, but the difference between a cheap brand and a luxurious one is usually blown out of proportion. For example, an expensive smartphone is definitely faster and more aesthetically pleasing, but should it really cost three times to five times as much as another low-end or midrange phone? Are the gaps in performance and build quality enough to

justify the huge difference in price? 5. You’re too clueless to start investing. You don’t need a degree in finance or economics to handle your money well. With the internet, everything you need to know in order to invest fruitfully can be obtained with a simple Google search. Of course, you can also follow blogs such as this one to gradually improve your financial IQ. A few books, seminars, and online courses won’t hurt, either. 6. Higher degrees mean bigger income. The next myth definitely deserves a mention, especially in the Filipino culture. Most students today believe that, once they get their degrees, they’ll be living large. As a result, their mindset becomes hardwired to chase bigger employment opportunities rather than exploring other means of generating income. Sure, extremely talented individuals can obtain recognition and wealth in their field. But what about those who aren’t as blessed? How

confident and motivated can they be once their childhood expectations become shattered? Truth be told, the Philippine economy offers little leg room for aspiring professionals to thrive. That’s why people who pursue opportunities abroad are generally more comfortable and fulfilled. The same goes for independent freelancers who seek remote work arrangements with clients overseas. As a takeaway, always remember that you are solely responsible for your financial future. You shouldn’t depend on your boss, parents, school, or even the government for your own success. Start from within by identifying your skills, revisiting your passions, and investing in more knowledge. Soon enough, opportunities to generate income will surely present themselves.

Fitz Villafuerte is registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 82nd RFP program this March 2020. To inquire, e-mail info@rfp.ph or text <name><e-mail> <RFP> at 0917-9689774.

EastWest announces DV Boer welcomes SEC lifting of advisory vs ‘Paiwi’ scheme maiden bond issuance

ast West Banking Corp. announced last Monday its maiden bond issuance of P2-billion fixed-rate bonds due 2023. In a statement, the 26-yeard-old bank said the bonds carry an interest rate of 4.5 percent per annum to be paid quarterly for three years. The bank said its first bond offering starts on February 10 until February 14, 2020, and is available for a minimum investment of P500,000 and increments of P100,000 thereafter. “Through its maiden bond issuance, [we] aim to serve clients better by providing alternative investment products,” EastWest Senior Executive Vice President and Treasurer Rafael S. Algarra Jr. was quoted in the statement as saying. “The bond issuance will also pave the way for future issuances and strengthen the Bank’s liquidity position by diversifying its sources of funding.” In the third quarter of 2019, the Bank posted a net income growth of 43 percent to P4.6 billion and reported a return on equity of 14 percent, on track to achieve its most profitable year. Total assets grew by 15 percent to P387.3 billion. The bonds are sold through the selling agents, EastWest and Unicapital Inc., likewise the lead arranger of the bonds. The issue and listing date on the Philippine Dealing and Exchange Corp. is targeted on February 21, 2020.

V Boer, which describes itself as successful goat farm and agribusiness enabler, hailed the recent order of the Securities and Exchange Commission (SEC) lifting the advisory on its “Paiwi” program. “This will exonerate DV Boer in the eyes of our partners, investors, believers, supporters and the general public because no less than the SEC, the government agency tasked to oversee big businesses, has already cleared us without any exceptions. Our Paiwi program was designed to genuinely help boost Philippine agriculture through organized livestock raising,” Dex Villamin, founder and president of the company established in 2014, said. The SEC order had said that, “in view of the foregoing, the above-captioned case is now deemed settled without any determination of guilt or fault on the part of DV Boer Farm International Corp.” In April 2019, the SEC warned against the Paiwi program of the company through an advisory. Paiwi is a widely accepted Filipino backyard farming wherein a person who owns livestock i.e. pig, chicken, goat, cattle, hires a neighbor or close associate to grow and nurture it until such time that is it ready to be sold, milked for its egg/offsprings or slaughtered for its meat. DV Boer offered the unique Paiwi business program to help traditional poultry farms and livestock

growers, to earn more, and develop, their farms into efficient, profit-oriented ventures. Aside from helping them earn more and produce more, DV Boer also educates them on how to run the business properly by providing new technology and best practices. Villamin said that his main advocacy is really to uplift the lives of the farm owners and bring Filipino agribusiness to global standards. “With this great development, we can now start the cleansing process of our once proud brand that would lead to the recovery of our business for all our employees, stakeholders and communities.” DV Boer has encountered difficulty coming up with the funds needed to keep the business going since the advisory took effect. Their bank accounts were closed due to the SEC advisory. The banks did not accept new accounts in the name of the company, so their operations were greatly affected. This was aggravated when Taal Volcano erupted in January, as most of their partner farms located in Batangas could not collect free forage around the area due to ash fall. “As you can see, despite these major obstacles, we still plodded on and fought for our principles and advocacies. And our

hardships have not gone for naught after this SEC ruling. Now our main concern is not only to revive the business but to grow it and to continue to fulfill our obligations to our partners, people and communities,” Villamin said in a statement. He promised stakeholders that “we will continue to enhance and speed up our operations and livestock production through application of new technologies.” DV Boer initially started as a successful breeding farm in Batangas of high quality, full-blooded Boer goats from Australia. Its early advocacy was to educate and assist small farmers in goat farming. It grew because of its commitment to excellent farming technologies and world-class best practices.

B4 Tuesday, February 11, 2020

Seda BGC celebrates love month with room package, special dinner

ALENTINE’S Day is a celebration for everyone at Seda BGC with its dining offers at Misto restaurant and Straight Up roof deck bar, as well as special room packages on February 14, 2020. For a group or family date or a singles’ night-out, Misto presents a Valentine buffet featuring a premium selection of main dishes highlighted by grilled classics and premium carvings such as Argentinian Tenderloin and Argentinian Oyster Blade, US Roast Beef and the

Filipino favorite, Lechon. A rich variety of sumptuous starters and desserts complete the feast, plus a bottle of wine for every two persons to enhance the flavors. Dinner buffet is at Php1,888 net, available from 6:00 to 10:00 pm. A different kind of setting is offered at Straight Up, Seda’s popular roof deck bar. With its new and bigger area on the 21st floor of the hotel’s expansion tower, it offers an exquisite six-course set dinner in its indoor area – perfect for a romantic and intimate evening celebration for

couples. Main course is a choice between Grilled Boston Lobster and Beef Tenderloin with a bottle of wine to complement and a jazz ensemble to enhance the mood. Set dinner is at Php3,100 net per person. The ambiance changes outdoors as Straight Up introduces a Seafood Bar with a market-style set-up featuring a variety of fresh seafood that can be enjoyed grilled or sauteed on-the-spot. More relaxed and with amazing view of the metro skyline and beyond, guests will treasure this extraordinary dining experience with friends or even solo. And as V-day falls on a Friday, Seda BGC offers an extended celebration with a Valentine room package on February 14, available for all room categories from the Deluxe Room to the suites and serviced residences. The package comes with an overnight accommodation, Valentine buffet dinner at Misto for two persons, couples’ massage in the guestroom, a complimentary bottle of wine in the room, buffet breakfast for two persons, complimentary WiFi, and use of the e-lounge, pool and gym. Extended stays from February 15-17, 2020 get further discounts on the room rates, more for the second night.

2020 PMPC OFFICERS’ INDUCTION. "As insiders in the entertainment industry, I encourage you, PMPC, to let us know how the Congress could help," House Speaker Alan Peter Cayetano said during the group's officers’ and board of directors’ oath-taking ceremony officiated by himself over at the House of Representatives on February 4. The Philippine Movie Press Club is a group of professional and active showbiz writers, editors of newspapers and tabloids in the country, online influencers and vloggers, and radio/TV/online reporters who cover the local entertainment industry. For years, PMPC functions as an award-giving body recognizing deserving members of the local entertainment industry through the PMPC Star Awards for Movies, PMPC Star Awards for Television, and the PMPC Star Awards for Music. The Speaker explained that he wants Congress to be a pro-people and well-trusted government agency. As such he wants to know how the industry is doing which along with "other entertainment arts" might be in need of aid by the government. The Speaker and his friends, Deputy Speaker Rep. Dan S. Fernandez and Reps. Prospero Pichay, Benny Abante and Jacinto Paras who take time out to witness the event, also donated “seed money” for the upcoming projects of the PMPC including several charities. The officers and board of directors inducted were Sandy Es Mariano (President), Fernan de Guzman (Vice President), Mell Navarro (Secretary), Mildred Bacud (Assistant Secretary), Jose ‘Boy’ Romero (Treasurer), Lourdes Fabian (Assistant Treasurer), Blessie Cirera (Auditor), Leony Garcia (PRO-English), Rodel Fernando (PRO-Filipino Leony Garcia and Rodel Fernando, and the Board of Directors: Joe Barrameda, Timmy Basil, Eric Borromeo, Roldan Castro,Rommel Placente, and Francis Simeon.

Experience luxurious Valentine at Midori

RANDIOSE, romantic and lavish this February 14, 2020, Midori Clark Hotel and Casino is set to fill the most romantic day of the year with opulence and grandeur as it stages back-to-back Valentine events for everyone. If you’re looking for a dinner to beat last year’s notable Valentine feast, Midori Clark Hotel and Casino will open the doors of the Baccus Lounge for a romantic dinner for two for the Love and Dine. The said lounge will transform into a dreamy, fabulous setting paired with a live violin performance for the perfect luxury valentine date. Enjoy the evening and savor the array of special Semi-Buffet dinner prepared by Executive Chef, Marcos Dungca. Dinner kicks off with a Cream of Mushroom “Cappuccino” Soup, Charcuterie and Assorted Cheese Platter

paired with various salads that sets the tone for the rest of the courses. The main courses feature some of the finest abundances of the earth and sea. Choose from US Prime Rib-Eye Steak with Bacon-Wrapped Scallops or Duo of Charcoal Grilled Lamb Chops with Tiger Prawn both served with green asparagus, roasted beets or marble potatoes. Midori Clark Hotel and Casino pastry chefs have also come up with a delectable dessert selection. To top off the lavish dinner, Midori offers a glass of wine, a long-stemmed rose and a photo souvenir for the couple as an ender. The Love and Dine is priced at P2,500 net/ head and opens from 7:00 p.m. to 10:00 p.m. Valentine's Day is not just a holiday for romantic love. Why not celebrate this Valentine's Day as a special family day? Aside from Love and Dine, Midori Clark Hotel and Casino will also stage a Love Feast – a Valentine Dinner Buffet at the main dining outlet, Toscana Dining. The buffet will feature an array of International selections from more than 50 dishes and stations. The whole family will surely enjoy the live performances from the Hums and Strings, favorite love songs played in Sax and accompanied by a famed local singer. Limited seats and guaranteed reservations only. For reservations, email restaurants@midorihotel.com or call 09178682217 or 045 308 8888. Keep social with us! Visit www.midorihotel. com and like Facebook.com/ midoriclarkhotel, follow @ midoriclark on Twitter and @ midorihotelcasino on Instagram.

PCSO extends aid to Taal affected residents

FTER the eruption of Taal volcano on January 12, 2020, the Philippine Charity Sweepstakes Office (PCSO) prepared relief assistance for the affected families who were forced to evacuate from their houses. PCSO sent two (2) medical teams to the municipalities of Bauan and Sto. Tomas City to extend medical attention to evacuees who were heavily affected by the eruption. Aside from free check-ups, the PCSO teams also distributed medicines and vitamins for respiratory related illnesses. The team, led by the office of General Manager Royina Garma represented by Ms. Loreta Giar, Ms. Marie Louise Serojales, and Ms. Agnes Ibera, OIC-Department Manager of the Corporate Department joined President Rodrigo Roa Duterte in the distribution of relief goods to evacuees in Batangas Sports Complex. The relief goods came from different government offices and agencies. The PCSO team contributed 250 grocery packs and delivered 1,000 packs of goods to the evacuees in General Miguel Malvar Memorial School. The distribution of goods

to the evacuees from different municipalities of Batangas was done in partnership with the National Capital Region Police Office (NCRPO) headed by Police Brigader General Debold Sinas. Another 750 packs were given to the affected families of Bauan, Batangas housed in Bauan Technical High School and 500 packs were delivered to the Agoncillo Relief Center in Valenton Building. Manila Police District chief Brig. Gen. Bernabe Balba

was with the PCSO team when the goods were turned over to the Atty. Cinderella Reyes, wife of Agoncillo Mayor Daniel Reyes. They also distributed reliefs in Tagaytay and Silang, Cavite. Hundreds of beneficiaries received blankets and hygiene kits from PCSO that they can use for comfort while they are away from their own houses. As of today, more than 5,000 families were assisted by PCSO's relief operation brought by Taal volcano eruption.

VIRUS IMPACTS AFC CHAMPIONS LEAGUE S

By John Duerden The Associated Press

EOUL, South Korea—The coronavirus will have an impact on the opening week of the Asian Champions League despite the absence of Chinese clubs. The champions from South Korea and Japan meet in the opening round on Tuesday, when extra precautions will mean that any fans wanting to watch Jeonbuk Motors against Yokohama F. Marinos will have to wear masks and have a temperature of under 37.5 Celsius to enter the Jeonju stadium. Mainland China on Monday reported another rise in cases of the new virus, while the number of deaths grew by 97 to 908, with at least two more outside the country. The Asian Football Confederation (AFC) announced after an emergency meeting last week that because of the spread of the virus, the first three games for three Chinese clubs—Shanghai SIPG, Guangzhou Evergrande and Shanghai Shenhua—will be postponed. “We came together in difficult circumstances to find solutions to allow us to play football while ensuring we protect the safety and security of all players, officials, stakeholders and fans,” AFC General Secretary Windsor John said. “We also accept that this coronavirus is a much bigger issue than just football and we wish all those who have been affected a speedy return to health.” The AFC hope that the group stage in the eastern half of the tournament can be completed before the region starts its knockout stage in June. Asia’s biggest club competition involves 32 teams, divided into eight groups of four based in two geographical zones: east and west. There are off-the-field issues in the west side of the draw, too. The four Iranian clubs will play their first three games away from home because of security concerns related to heightened tensions in the region. The clubs considered boycotting the tournament until a meeting last month with the AFC. And so Shahr Khodro FC was traveling to Dubai to take on Saudi giant Al Hilal, which won the 2019 title in only the second West Asian triumph in the tournament since 2005. In the eastern half, it remains to be seen if the Chinese contingent can return to action in late April and May to play their rescheduled fixtures but in the meantime, rivals will be looking to get some points on the board. The J-League champion Marinos are back in the continental competition for the first time in six seasons. “It’s a different game, a different proposition, a different opponent and a different country,” Marinos Coach Ange Postecoglou said of the match against Jeonbuk. “We haven’t been in the AFC Champions League as a club for a long time so it’s going to be a good challenge for us.” Yokohama lot the Japan Super Cup to Andres Iniesta’s Vissel Kobe in a penalty shoot out last weekend after a 3-3 draw at Saitama. Vissel Kobe will be making a first Asian appearance and host Johor Darul Tazim of Malaysia in one of only four games to go ahead in East Asia this week. “We worked hard to get into the Champions League,” Iniesta, who won the 2010 World Cup with Spain, said. “We know that it won’t be easy but we are looking forward to the challenge of facing some of the best teams in Asia.” Australia has three clubs in the group stage of the tournament for the first time, and Melbourne Victory and Sydney FC will be looking to improve on the 2019 edition when they failed to win a single game. “We have a big couple of months ahead in both the A-League and Champions League, and it will take our entire squad working hard together to help us achieve our ambition of qualifying for the next stage,” Melbourne Coach Carlos Salvachua said. Victory kick off against Thailand champion Changrai United, which is making its first appearance in the group stage.

LPGA CANCELS 2 MORE ASIAN TOURNAMENTS

THE Ladies Professional Golf Association (LPGA) Tour has canceled two more tournaments in Asia because of the coronavirus, knocking out three of the five tournaments that comprise its first international swing. The LPGA said Sunday night the Honda LPGA Thailand, scheduled for February 20 to 23, and the HSBC Women’s World Championship in Singapore, scheduled for the following week, have been canceled. It previously postponed the Blue Bay LPGA on Hainan Island in China over concerns about the new type of coronavirus, which originated in Wuhan, China. Mainland China reported another rise in cases with deaths increasing by 97 to 908. China’s health ministry said 40,171 people have been affected on the mainland. The cancellations of the Thailand and Singapore events were “due to the continued health concerns and recent advisories in some Asian countries” that large-scale events should not be held, the LPGA Tour said in a statement. “It is always a difficult decision to cancel events and the LPGA greatly appreciates the understanding and all the efforts made by our title sponsors [Honda and HSBC], as well as IMG to host incredible events for our players,” the statement said. “The health and safety of our players, fans and everyone working on the event is always our highest priority.” The Thailand event dates to 2006, while the HSBC Women’s World Championship dates to 2008. They have been the backbone of the LPGA Tour’s international events, offering fields limited to top players, no cuts and a lucrative time for players who are given free travel and lodging in premium hotels. The Women’s Australian Open is this week in Adelaide, the second straight week in Australia. The cancellation means after this week, the LPGA Tour will be out of action a full month before returning with the Founders Cup in Arizona on March 19. Two other golf events in Asia have been postponed or moved. The PGA Tour China Series moved its qualifier from China to Singapore. The R&A announced this week that it was canceling the Women’s Asia-Pacific Amateur in Thailand, the premier amateur event in Asia that rewards the winner with a spot in two LPGA majors and the Augusta National Women’s Amateur.

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| Tuesday, February 11, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

A WORKER in a tractor operates electrostatic spraying to disinfect the workplace following the coronavirus outbreak in Yantai City in east China’s Shandong province. AP

Premier League, other soccer games in Europe off due to storm

ONDON—Manchester City’s Premier League game against West Ham on Sunday was called off due to a storm battering northern Europe, as were matches in Germany, Belgium and the Netherlands. The announcement was made five hours before the scheduled kickoff in the northern English city of Manchester, with City citing safety concerns due to “extreme and escalating weather conditions.” It was one of only four scheduled Premier League games this weekend in the competition’s first split winter break. Sheffield United’s home game against Bournemouth went ahead as scheduled despite high winds before kickoff. Sheffield won 2-1. Widespread disruption is expected to train services, which could cause problems for fans making the long return journey from Bournemouth on the south coast. The storm impacted the Women’s Super League with postponements including Sunday’s high-profile clash at Goodison Park for the Merseyside derby between

Waves crash into the wall at Newhaven in England as Storm Ciara, named by the Met Office national weather agency, hits the UK on Sunday. AP

Everton and Liverpool, and a North London derby between Arsenal and Tottenham. Nonleague club Wisbech Town posted pictures on Twitter of storm damage to its stadium. A stand had collapsed and goalposts were bent backwards. Storm Ciara, named by the Met Office national weather agency, was expected to bring winds up to 90 mph (129 kph), as well as heavy rains. The British agency has issued 22 emergency flood warnings and 149 flood watch alerts. German title challenger Borussia Mönchengladbach’s game against Cologne was also called off. Gladbach said that the game itself would likely not have been affected but that fans could face a dangerous journey home. Sunday’s other Bundesliga game between league leader Bayern Munich and Leipzig was expected to go ahead. Munich’s location in the south

of Germany is further from the storm’s expected path. Both of Sunday’s top-tier league games in the Netherlands were called off, including Ajax’s visit to Utrecht, along with amateur games at all levels. The Dutch soccer federation said “the safety of supporters and players cannot be guaranteed” amid the storm. Three games in the Belgian league and all second-tier fixtures were also postponed. In other sports, two Super League rugby games were called off in the north of England, along with a women’s Six Nations rugby union game between Scotland and England, and various horse-racing events. A weekend of the ski jumping World Cup in Germany was cut short, with the decision taken Saturday to cancel Sunday’s jumps on safety grounds. AP

China, Hong Kong banned from Asian badminton championships in Manila

HINA and Hong Kong have been banned from the upcoming Asian Badminton Championships due to fears of the spread of coronavirus. Set to take place from February 11 to 16 in Manila, organizers said that the Philippines have introduced strict travel bans on mainland China and the territories of Hong Kong and Macau as the death toll reached 814 with over 37,000 people infected globally. The news comes days after the Badminton World Federation promised Chinese athletes that they would not be banned from tournaments, despite the outbreak. India’s women’s team have also withdrawn due to the threat of the spread, which has already infected three people in the host nation. With new regulations requiring all people from these countries to spend 14 days in quarantine before, it is not enough time for the players who were set to arrive today, two days before the start of the tournament. “We need to put the Manila event behind us and we make sure our players can take part in other events,” said Hong Kong Coach Tim He Yiming as reported by the South China Morning Post. “We plan to bring the squad to Europe for training camps as early as possible because we have to consider the epidemic situation in Hong Kong. “We don’t know what will happen next and how other countries will respond. “Every tournament is important for the players at this stage and we cannot afford to miss more as this would mean missing qualifying points. The ban affects women’s world No. 1 Chen Yufei who won bronze last year, as well as men’s world No. 4 Chen Long. Insidethegames THE ban affects men’s world No. 4 Chen Long’s bid.

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US advances to Fed Cup Finals after doubles win over Latvia

Nick Taylor walks off the 18th green of Pebble Beach with his wife Andie and son Charlie. Phil Mickelson reacts after missing a birdie putt. AP

VERETT, Washington—Australian Open champion Sofia Kenin was hoping not to have to take the court again after falling short in her singles match. After Serena Williams was defeated for the first time in a Fed Cup singles match, it was left to Kenin and Bethanie Mattek-Sands to get the United States into the Fed Cup Finals. “I was cheering Serena on very loud.... I was really nervous for you,” Kenin said. “I was super excited. This is why we play, moments like these, and these moments we can remember forever.” Kenin and Mattek-Sands teamed up for a 6-4, 6-0 doubles victory over Jelena Ostapekno and Anastasija Sevastova to give the US a 3-2 win over Latvia in their Fed Cup qualifying match on Saturday night. It was a more challenging day than expected for the Americans, who held a 2-0 lead entering the second day of singles matches. But Ostapenko beat Kenin in three sets, and Sevastova followed with a stunning three-set victory over Williams. Kenin took the place of Alison Riske in doubles, her third match in barely 24 hours. While she may have looked fatigued in her three-set loss to Ostapenko earlier in the day, Kenin found a boost teaming with the energetic Mattek-Sands and clinched the Americans a trip to Budapest, Hungary, for the finals in April. “The last match of the day, you don’t know if it’s going to count for something or if it’s all coming down to it,” Mattek-Sands said. “I’m ready for both. I’ve been in both situations.” Doubles deciding the meeting was a surprise after both Kenin and Williams won on the opening night. Even after Kenin lost Saturday’s opening match, there was still Williams’s 14-0 mark in singles in her Fed Cup history. But Sevastova ended Williams’s unbeaten run. Sevastova won 7-6 (5), 3-6, 7-6 (4), avenging a loss to Williams in their only previous meeting in the 2018 US Open semifinals when Sevastova won only three games. This time, it was Sevastova celebrating at the end, closing out the match with a huge serve Williams couldn’t return. Williams had been unbeaten in singles, dating to her debut in 1999, including a straight-sets win over Ostapenko on Friday night that had two tiebreakers. “It’s obviously hard to play Serena, and she’s an amazing champion,” Sevastova said. “You just try and enjoy it as best you can, and give your best.” Williams had chances to clinch a victory for the US, and wrap up its spot in the finals. Williams rallied from a 5-2 deficit in the opening set by winning four straight games, and had three set points with Sevastova serving. But the Latvian managed to hold serve, thanks to a couple of errors by Williams and a pair of aces. Williams broke the serve of Sevastova four times in the second set, but couldn’t find the same success in the final set as the players held serve into the tiebreaker. Williams pulled even at 4-all, but Sevastova won the final three points and the match. “It was a really intense match. I feel it was lots of points, lots of running, lots of things, and lots of things to take out of the match for the future,” Williams said. Ostapenko beat Kenin, 6-3, 2-6, 6-2, to give Latvia its first point. Ostapekno broke Kenin four times in the third set as the former French Open champion outlasted the most recent Grand Slam winner. Kenin struggled with Ostapenko’s power before adjusting to dominate the second set, but she couldn’t hold serve in the final set. AP THE US’ Bethanie MattekSands leaps toward Sofia Kenin after they defeated Latvia’s Jelena Ostapenko and Anastasija Sevastova. AP

POUND: I.O.C.’S NOT RESTRICTING ATHLETES’ FREEDOM OF SPEECH

TAYLOR PREVAILS AS LEFTY MELTS P

EBBLE BEACH, California—Nick Taylor knew the odds were not in his favor Sunday at Pebble Beach. Already nervous about facing Phil “Lefty” Mickelson for the first time with only a one-shot lead, Taylor found himself watching Lefty’s short game highlight show on the eve of their final-round pairing at the AT&T Pebble Beach Pro-Am. “I was just curious, to be honest. And he hit some amazing shots,” Taylor said. “I’m like, ‘Well, I don’t know if he can keep that up. If he can, great.’ But if I keep doing what I’m doing, plugging along...then try to make the guys behind me try to beat me.” Taylor created his own short game highlights for a victory that will stay with him a long time. He holed a bunker shot for eagle that carried him to a five-shot lead at the turn. And when that lead shrunk to two shots in 40-mph gusts, Taylor chipped in for a birdie on the 15th hole that all but sealed it. Turns out Taylor had more trouble with the wind than Mickelson, and the Canadian managed both just fine. He never lost the lead and closed with a two-under 70 for a four-shot victory over Kevin Streelman. Mickelson, going for a record sixth time at he Pebble Beach Pro-Am, faded to third with a 74. “It’s disappointing certainly to have not won, but I got outplayed,” Mickelson said. “I mean, Nick played better than I did. He holed a couple of great shots.

That eagle on 6, the putts he made on 4, 5 and 7...he just really played some great golf.” The rewards were more than Taylor could digest. He won in his fourth start as a Professional Golfers’ Association (PGA) Tour rookie at the 2015 Sanderson Farms Championship in Mississippi, at the time an opposite-field event that didn’t feature any of the top players. He went 146 starts on the PGA Tour until his next victory, and it was a big one. “That was amazing,” Taylor said. “I believed I could do it because I’ve done it before. But to do it in that fashion, playing with Phil, gives me a lot of confidence going forward.” The victory gets him into the Masters for the first time, along with the PGA Championship up the coast at Harding Park in May. In his sixth year on tour, the 31-year-old Canadian has played only two majors as a pro. One of those was last summer at Pebble Beach, after which Taylor announced he and his wife, Andie, were expecting their first child. They were waiting for him beyond the 18th green at Pebble. “You couldn’t write it much better,” Taylor said. The final chapter was more than five hours of jumbled emotions. Taylor figured he would have been more nervous with a larger lead at the start, and then he had one in the middle. He regained the lead with a 15foot birdie on No. 4, matched birdies with Mickelson on the par-3 fifth hole, holed the bunker shot on the par-5

sixth hole to seize control and made a 7-foot birdie on No. 9 to head to the back nine with a five-shot lead. Mickelson contributed to Taylor’s advantage, going long over the eighth green and chipping so strong that it caught the slope and rolled back to the fairway, leading to double bogey. He made bogey on No. 9, a two-shot swing. And then the wind arrived, so strong that it was hard work to make bogey. Mickelson chipped away with a birdie at No. 10 and two pars, and he picked up another shot with a bogey on the par-five 14th hole, where the wind was so strong it blew Taylor’s cap off his head as he faced 227 yards to the green—for his third shot. Taylor made double bogey. The lead was two with four holes to play. “I had to remind myself I still had the lead, I knew I was swinging it well and just needed to hit that fairway,” Taylor said. He came up short of the green, but had a simple chip that turned out perfectly and dropped for birdie. His final act was an 8-iron to 6 feet for birdie on the 17th. Taylor finished at 19-under 268 and earned a twoyear exemption, valuable for a guy who has been fighting to keep his card the last few years. Mickelson wasn’t the only player who struggled. Dustin Johnson shot a 78. Matt Every, in the third-to-last group, shot 80. Jason Day closed with a 75. AP

Blazers beat Heat in Iguodala’s debut for Miami

ORTLAND, Oregon—Andre Iguodala fell short in his first chance to get a win with the Miami Heat. His next one will come against his former team. Damian Lillard had 33 points and eight assists, Gary Trent Jr. scored 22 points and the Portland Trail Blazers beat Miami, 115-109, on Sunday night. Iguodala had two points in his first game since the NBA Finals. “It felt good tonight,” Iguodala said. “I wanted to get a feel for where I was at. Honestly, I haven’t even played a pickup game or anything since the finals. I was trying to get a feel for where my mind was. Overall, I felt really good out there.” For Iguodala and the Heat, the next game will be at Golden State, where he was a member of three championship teams and the MVP of the 2015 NBA Finals. “I’ve played a lot of basketball games in my career, so the emotional highs and lows, I don’t have anymore,” Iguodala

said of returning to play his former team. “For this team, more important, we want to win. This road trip is tough with a lot of guys down. We’ve got new bodies, and us getting a win is more important than how I feel.” Hassan Whiteside had 11 points and 17 rebounds against his former team, including a pair of free throws with 11.5 seconds left that gave Portland a seven-point lead. While Lillard has been the catalyst for everything, the Blazers have gotten a major shot in the arm from Trent. The former bench warmer has averaged more than 14 points over the last five games, and has shot above 51 percent on 3-pointers during that stretch. “You just love to see it,” Lillard said. “I told him the other day, I don’t know if I’ve been more proud, or happier, for another player or a younger player since I’ve been in the league. A second-round pick, McDonald’s All-American and went Duke, but doesn’t get an opportunity right away. He had a lot to learn, his dad played in the league, and he did it.” Trent’s play hasn’t gone unnoticed by opponents either, especially after he hit a 3-pointer with 2:08 left to put Portland up 110-103. “He has really stepped up and played well,” Heat Coach Erik Spoelstra said. “It’s not easy to be a role player with great players. That sounds easy, but you have to do a lot of the little things. At the end of the clock, teams are trying to get the ball out of the great players’ hands, and you have to step up and he hit a big shot.” Goran Dragic had 27 points for Miami, which played without Jimmy Butler and Tyler Herro. Duncan Robinson had 19 points, but just four after halftime. Iguodala, acquired from Memphis before the trade

deadline, made his Miami debut in the first quarter, wearing No. 28. He made an impact with a block of Portland’s Mario Hezonja. In the second quarter, Hezonja sprained his left ankle and did not return, leaving Portland with just eight available players. After a foul was called on Lillard with 0.9 seconds left in the third quarter, Blazers Coach Terry Stotts challenged the call. The call was overturned after the review, which showed a clean block by Lillard and a loose ball foul on Dragic. Lillard made both free throws to give the Blazers a 93-83 lead heading into the final period. Iguodala began the fourth quarter with an assist to Chris Silva on an alley-oop. A steal by Iguodala on the next possession led to Robinson’s 3-pointer, forcing a Blazers timeout with 11:01 left. Bam Adebayo’s lay-up cut the Blazers’ lead to 111-108, with 46 seconds left. However, Lillard answered back with a lay-up of his own to push the lead back to 113-108, with 25 seconds left. After the Heat had three opportunities to cut into the lead, Whiteside grabbed the rebound and was fouled. AP

NTERNATIONAL Olympic Committee (IOC) Vice President Richard Pound rejected claims that the organization is restricting athletes’ freedom of speech through Rule 50. The IOC and President Thomas Bach have come under heavy criticism for their repeated warnings to athletes about staging podium protests at the Tokyo 2020 Olympic Games. Rule 50 states that “No kind of demonstration or political, religious or racial propaganda is permitted in any Olympic sites, venues or other areas.” American footballer Megan Rapinoe was one of many athletes to criticize the rule and insinuate freedom of speech was being curtailed. “So much being done about the protests,” Rapinoe said on Instagram. “So little being done about what we are protesting about. We will not be silenced.” Pound has responded to the criticism in a column for the Canadian newspaper The Star, defending the use of Rule 50. “There is a perfectly simple explanation for such a rule, but in some quarters it has been harshly criticized as an unjustifiable incursion into the rights of free speech enjoyed by Olympic athletes,” Pound said. “First, this is not a new rule and, second, it is one wholly consistent with the underlying context of the Olympic Games, during which politics, religion, race and sexual orientation are set aside,” he said. “The guidelines causing the furor were produced by athletes themselves, after extensive consultations. “It is athletes who bear the risk of losing the moment they have trained for their whole lives by a protest on the podium.” He went on to claim that the IOC was not restricting freedom of speech, with athletes able to espouse their views in interviews and on social media. “Everyone has the right to political opinion and the freedom to express such opinions,” he said. “The IOC fully agrees with that principle, and has made it absolutely clear that athletes remain free to express their opinions in press conferences, in media interviews and on social media.” “But, in a free society, rights may come with certain limitations. Rule 50 restricts the occasions and places for the exercise of such rights,” he added. “It does not impinge on the rights themselves.” “Many other governmental and sporting organizations have similar rules restricting demonstrations. The IOC Athletes’ Commission also attempted to differentiate between protests, and “expressing views” when the body established specific guidelines on Rule 50 last month. The guidelines, published following a joint meeting of the IOC Executive Board and the Athletes’ Commission, prohibit protests and demonstrations at “all Olympic venues,” including medal ceremonies, the field of play and the Olympic Village. Insidethegames

ANDRE Iguodala has two points in his first game since the National Basketball Association Finals. AP

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Tuesday, February 11, 2020

Perpetual Help stops EAC, takes solo 3rd in ‘NC’ volley

NIVERSITY of Perpetual Help dug deep in its arsenal to stop an upset-hungry Emilio Aguinaldo College (EAC), 20-25, 25-17, 2521, 25-17, and take solo third spot in the National Collegiate Athletic Association Season 95 women’s volleyball tournament on Monday at the Filoil Flying V Centre in San Juan. The Lady Altas met head-on a Lady Generals side riding the momentum of winning their first match after 16 straight losses from last season and bowed in the first set, giving EAC another much-needed morale booster to surpass their expectations this year. But the EAC fortress gave way to a consistent Perpetual Help play on both ends and the Lady Altas went on to take the win—although the hard way. “We had a slow start,” Perpetual Help Coach Michael Cariño said. “They were so relaxed. We came from a bad performance against San Beda. I challenged them to get back to the winning ways.” “But this is good result despite our bad performance. We were tensed and erratic. The team at least regained their morale, which they lost against San Beda,” he added. Jhona Rosal scored 17 points and Dana Persa added 11 points, 12 excellent digs and six excellent receptions, while Bianca Tripoli chipped in 11 points on three blocks and three aces for Perpetual Help which improved to 6-2 won-lost record. Catherine Almazan had 16 points along with

UE, Ateneo stake titles

niversity of the East and Ateneo stake their men’s and women’s crowns as the University Athletic Association of the Philippines Season 82 fencing tournament opens on Tuesday at the Paco Arena. The men’s individual saber and women’s individual foil will kick off competitions at 8 a.m., while the men’s individual epee will be played in the afternoon. The Red Warriors clinched a seventh straight title and 13th overall last season behind their strong showing in the individual events. CJ Concepcion won the saber gold and two-time MVP Sammuel Tranquilan topped the epee and foil events. Reigning MVP Maxine Esteban, who captured gold medals in the individual foil and saber events in her rookie season, will lead the Lady Eagles’ bid to remain in the throne. Behind Esteban, Ateneo won its second championship overall, and the first since 2006, while ending UE’s 11-year reign. The Junior Warriors, meanwhile, hope to achieve another golden double in the high school division. The competition will also start at 8 a.m. with the boys’ individual epee, while the girls’ individual foil and boys’ individual saber will be held in the afternoon. UE, starring Asian U23 championship gold medalist Samantha Catantan, accomplished an eight-peat in the girls’ division, while the boys’ team streaked to its ninth straight championship behind MVP Prince John Francis Felipe.

SPORTS WITHOUT BORDERS

14 excellent digs and six excellent receptions and Krizzia Reyes finished also with 16 points and for EAC. Kristine Cancio had nine excellent sets and 10 excellent digs for EAC which remained in the cellar fell with a 1-7 card. Jose Rizal University, meanwhile, capped its season campaign on a high note with a victory over Letran College, 25-17, 18-25, 25-21, 25-13. Dolly Verzosa topscored with 16 points and 19 excellent digs, Sydney Niegos added 11 points and four aces, Karyla Jasareno and Riza Rose chipped in 11 points each nd Renessa Melgar had 11 excellent sets for JRU, which exited witgh a 4-5 record. Letran fell to 3-4—the loss securing a semifinals berth for San Sebastian— to tie Lyceum of the Philippines at sixth spot. In the men’s tournament, defending champions Perpetual Help handed EAC its first loss of the season, 25-23, 29-27, 28-26. Louie Ramirez had 17 points, while Kennry Malinis and Ronniel Rosales both added 13 each for the Altas, who stretched their unbeaten run to seven matches. Ryniel Berlanga

Sudden change of the guard

NCOV OUTBREAK FORCES PBA TO RESET 45TH SEASON T commissioner Willie Marcial said. Marcial, however, said there would be no changes in the season’s first day of activities, including the opening game that pits reigning Philippine Cup five-time champion San Miguel Beer against Magnolia Pambansang Manok. It will be an early rematch between the two squads that squared off in the 2019 All-Filipino finals won by the Beermen in Game Seven. The lone game will follow the Season 44 Leo Awards to be highlighted by the coronation of the season Most Valuable Player. San Miguel Beer’s Cebuano behemoth June Mar Fajardo looks poised to bag a sixth MVP plum, with Columbian Dyip’s CJ Perez, NLEX’s Christian

as UAAP women’s basketball champion following yet another perfect season. The team bagged a sixth straight UAAP title with another 16-0 record, including a sweep of University of Santo Tomas in the finals. The Bulldogs extended their unprecedented winning streak to 96 games in a six-year span. Aquino also coached the Gilas Pilipinas women’s 5-on-5 and 3x3 teams that bagged breakthrough gold medals in the 30th Southeast Asian Games. Working behind the core of the Lady Bulldogs led by Animam, Aquino steered the Filipinas on top of the podium for the first time ever by toppling long-time rival Thailand in the final, 91-71, ending the long agony for Philippine women’s basketball. They did the same thing in the inaugural 3x3 event where they also thrashed the Thais, 17-13, for the gold. The same season also saw the Gilas Pilipinas women’s team retaining its spot in Division A of the Fiba Women’s Asia Cup.

Ravena? The well-built Ateneo guard was the catalyst of the Blue Eagles completing an unprecedented 16-0 campaign in UAAP Season 82 men’s basketball tournament. The school retained the title undefeated following a two-game sweep of UST in the finals for their third straight championship. No men’s team in UAAP history has won the crown with a perfect 16-0 record—Ateneo also became the first unbeaten champion since UST (14-0) in 1993. Ravena, who will forever be remembered for that iconic photo showing him standing on the scorer’s table and facing the Ateneo crowd while spreading his arms wide in the din of the championship celebration, was part of that Ateneo three-peat, which he capped by emerging as finals MVP each time, a first in UAAP history. Earlier in the year, Ravena made the final 12-man roster of Gilas Pilipinas in the final window of the 2019 Fiba World Cup qualifiers as the lone collegiate player.

Oranza, Morales, Carino lead Standard Insurance-Navy bid

tandard Insurance-Navy will parade former champions Ronald Oranza and Jan Paul Morales as it seeks to reassert its dominance against a stacked field in the LBC Ronda Pilipinas 10th anniversary race unfurling

CONE TO DISCUSS WITH SLAUGHTER

BARANGAY Ginebra San Miguel Head Coach Tim Cone maintained his plan to sit down and discuss things with Greg Slaughter even as he clarified that he’s not in the dark regarding his Marcial player’s desire to take a sabbatical. “Contrary to some reports, I did know Greg was contemplating taking a break from basketball,” Cone said. “We discussed it during our exit meeting immediately following the

championship, and I hope to discuss it further in the next couple of days.” Cone is bracing for Slaughter’s likely exit. “Obviously, his absence in the All-Filipino would be a big blow to the team and his teammates,” Cone said. On a high from their Governors Cup title run, Cone had looked forward to extending a great ride to the Philippine Cup—a tournament he’s yet to win with the Gin Kings. Minus June Mar Fajardo at San Miguel Beer, Ginebra was tipped to be the team to watch in the tourney that is to fire off on a new date,

on February 23 in Sorsogon and ending on March 4 in Vigan, Ilocos Sur. Oranza, the 2018 champion, and Morales, who won it in 2016 and 2017, and the Navymen loomed as the early favorites to rule the

10th edition. They will be joined by consistent top 10 finishers El Joshua Carino, George Oconer, Ronald Lomotos, John Mark Camingao and many-time King of the Mountain winner Junrey Navara.

When Kobe Bryant passed away, he was holding a torch, waiting for someone to come along to accept the responsibility of carrying on his legacy. Kobe unintentionally dropped the torch when he passed away and LeBron was ready to catch it and run with it. LeBron is ready. You can say he’s been ready for a long time. LeBron is a family man just like Bryant. He’s already prepared himself well for life after basketball unless he’s trying to preserve himself long enough for his eldest son Bronny to make it to the NBA to make history as the first father and son to play in the league. He’s well-liked and respected around the league and like Bryant, he’s also a humanitarian and a philanthropist. He wields a lot on influence on the commissioner with the welfare of his peers in mind. He has millions upon millions of people who follow him on social media. When he speaks about issues and expresses his views, people listen. He is the face of the NBA. Teammates, friends from other teams and even opponents ask if they can workout with him during the off-season. Unfortunately, LeBron can’t play forever. When the day comes to hang ‘Em up, I’m going to go out on a limb and say...Steph Curry will have to step up, step forward and be the new face of the league. There are the permanent things in life; change, death, taxes and changing of the guard.

March 8, at the Smart Araneta Coliseum. But then came Slaughter’s announcement that was a big shock to the Ginebra diehards. Although deemed as soft by critics, Slaughter is Slaughter. Last season, the Filipino-American behemoth was good for averages of 9.6 points, 6.4 rebounds, 1.0 assist and 0.9 block. He’s the team’s No. 4 best scorer after Stanley Pringle (10.0), Japeth Aguilar (14.6) and LA Tenorio (11.8). Aguilar is also bracing for a tough grind minus his frontline partner. “[Things] will never be the same,” he said on his Twitter account.

PSC aids in Burauen complex renovation

ost Philippines received some luck during the redrawing of groupings for the 2020 Badminton Asia Manila Team Championships set to kick off on Tuesday at the Rizal Memorial Coliseum. The team of Joper Escueta, Ariel Magnaye, Alvin Morada, Solomon Padiz Jr., Paul John Pantig, Ros Pedrosa, Arthur Salvado, and Lanz Zafra, who were originally slotted with top seed Indonesia and fifth-ranked India, was moved to Group C with Chinese-Taipei and Singapore. “Even if the grouping is a little lighter compared to our original group, we still have a mountain to climb especially Chinese-Taipei has one of the top players in the world in Chou Tien Chen,” men’s national team head coach Ronald Magnaye said. A reclassification of the squads was done due

to China, Hong Kong and India’s women’s squads withdrawal from the tournament because of the corona virus outbreak. Group B will be composed of India, Malaysia and Kazakhstan. With the top 2 teams in each group automatically advancing to the knockout semifinals of the tournament backed by Smart Communications Inc., MVP Sports Foundation, Leisure and Resorts World Corporation, Cignal and TV5, Group A’s Indonesia and Korea and Group D’s Japan and Thailand will just play for seeding. For the women’s side, the Philippine team of Nicole Albo, Sarah Barredo, Mika de Guzman, Geva de Vera, Ysay Leonardo, Chanelle Lunod, Bianca Carlos, and Thea Pomar will still figure in Group C with fellow Southeast Asian squads Thailand and Indonesia.

HE Philippine Sports Commission (PSC) committed on Monday to provide the Local Government of Burauen,Leyte financial and technical aid for the renovation of the Burauen Sports Complex Track Oval and Swimming Pools in 2021. In a courtesy visit to PSC Chairman William Ramirez on Monday, Burauen City Mayor Juanito Renomeron reached an agreement with the sports agency chief for the renovation of the city’s sports facilities. “The PSC is persistent in its mandate to make sports accessible to every Filipino, and to support local government units on their grassroots sports programs that creates better citizenry through sports,” Ramirez said. Renomeron thanked the PSC for its promised aid. “We were surprised by the support coming from the PSC for the renovation of both our track oval and swimming pool. This is a great step in developing a better grassroots sports program in our city,” Renomeron said. Renomeron added that the renovations on the 6-hectare complex will boost their bid in hosting Batang Pinoy and Philippine National Games, as well as the Palarong Pambansa in 2023. Ramirez, meanwhile, will grace the opening ceremony of the Eastern Visayas Regional Athletic Association at the Burauen Sports Complex on March 22. In 2018, the PSC also partnered with the Mindanao State University for the refurbishments of its Track Oval as part of its aid in the recovery of Marawi City.

Newbie Lance Allen Benito is the eighth and last member of the Navy team that has lorded over three of the last four editions of the race staking P1 million to the individual champion. “We will just try to live up to what is expected of us, which is to win,” Navy coach Reinhard Gorantes said. Gorantes, however, admits that this year’s

race should be tougher since champion 7Eleven Cliqq-Air21 by Roadbike Philippines is making a much-awaited return since winning the team event seven years ago. Mark Galedo, the 2012 titlist, will lead the team that is also composed of grizzled veterans Marcelo Felipe and Rustom Lim. Ageless Santy Barnachea, who won the

inaugural staging of this race in 2011 and 2015, will also make a comeback as he leads a youth-laden Scratch It squad as well as 2014 winner Reimon Lapaza, who will represent Celeste Cycles-PH-Devel Project Pro Team. “There are a lot of team this year who are capable of beating us, 7Eleven is one of them,” Gorantes said.

ANIMAM, AQUINO, RAVENA TO RECEIVE SPECIAL AWARDS T

Standhardinger and TNT KaTropa’s Jayson Castro challenging his reign.

CERES HOSTS CAMBODIA

The Red Warriors clinch a seventh straight title and 13th overall last season behind their strong showing in the individual events. CJ Concepcion wins the saber gold and two-time Most Valuable Player Sammuel Tranquilan tops the epee and foil events.

HREE individuals who played a huge part in completing a season to remember are bound to reap the fruits of their hard work. Jack Danielle Animam and her venerable coach at National University (NU) Patrick Aquino, along with Ateneo stalwart Thirdy Ravena will be the recipients of special awards in the San Miguel Corp.-Philippine Sportswriters Association Annual Awards Night at the Centennial Hall of the Manila Hotel. Ravena is the year’s Mr. Basketball, while Animam and Aquino are going to be the first recipients of the Ms. Basketball and Coach of the Year trophies from the country’s oldest media organization established in 1949. The three are part of the long honor roll headed by 2019 Athlete of the Year Team Philippines which will be feted in a grand March 6 ceremony presented by the Philippine Sports Commission, Milo, Cignal TV, Philippine Basketball Association, Rain or Shine and AirAsia. Animam and Aquino formed part of the undefeated Lady Bulldogs who extended their reign

Vincent Juico

@VJuico Instagram vpjp_j, vince.juico@gmail.com

EMILIO Aguinaldo College’s Krizzia Reyes breaks the defense out up by University of Perpetual Help’s Jenny Gaviola and Charina Scott. NONOY LACZA

HE Philippine Basketball Association (PBA)—in support to the precautionary measures being implemented by the national government due to the novel coronavirus outbreak—is moving the opening of Season 45 as well as the Developmental League. The PBA season opener on March 1 has been moved to March 8 still at the Smart Araneta Coliseum while the D-League opening day has been reset from February 13 to March 2 at the Paco Arena. “It’s a preventive measure against nCoV. It’s now in place and will be implemented. The safety of our fans, teams, players and officials remain to be our utmost priority,” PBA

eres-Negros Football Club host Cambodian champions Svay Rieng to kick off its fifth straight run in the Asian Football Confederation (AFC) Cup 2020 Asean Group G on Tuesday at 7 p.m. at the Rizal Memorial Stadium. But before the AFC Cup, the three-time Philippine Football League champions had an impressive stint this year after reaching the playoff round of the AFC Champions League. Ceres, also the Copa Paulino Alcantara Cup champion, defeated Shan United of Myanmar (3-2) in the first round and booked an upset of Thailand powerhouse Port FC (1-1) in the second qualifying round. Ceres, though, fell short against FC Tokyo (2-0) in the playoff stage, which relegated the Busmen in their fifth straight year in the AFC Cup.

Their efforts, on the other hand, gave them a total of 40.75 ranking points to stay on top of the Southeast Asian club rankings, beating Buriram United of Thailand (40.63). Ceres called former winger Matt Ott, who is currently plays for Ratchaburi in Thailand, to again beef up its roster. Ott helped Ceres reach the Asean Zone in 2017. A win over Svay Rieng will set up Ceres against Quang Ninh of Vietnam in the second stage then the Indonesian champions Bali United at the end of group stage. In the previous AFC Cup, Ceres cruised through its group stage, defeating Shan United of Thailand, Becamex Binh Durong of Vietnam and Persija Jakarta of Indonesia to reach the Asean Zonal Semifinals only to lose to Ha Noi of Vietnam.

PHL battles Thailand in Badmintion Asia

Sports

REMEMBERING THE KIDS

A mural features the faces of the young soccer players who died one year ago in a fire at the Flamengo club training center in Rio de Janeiro, Brazil. The fire killed 10 academy players and injured three others, all aged between 14 and 16 years old at the time. AP

BusinessMirror

SPANISH PROTEST

ADRID—Women soccer players in Spain crossed their arms for about 30 seconds at the beginning of a match on Sunday to demand the signing of the sport’s first collective agreement in the country. The 22 players of Real Sociedad and Barcelona stood with their arms crossed after kickoff at the inaugural Spanish Super Cup final in the city of Salamanca. Fans applauded the protest, which was joined by the bench players from both teams. The deal for the collective agreement was struck in December but it hasn’t been made official, yet. The women went on strike for a round of league matches in November over wages and working hours. Last week they threatened other “measures” if there was no progress. The delay has been mostly due to unresolved details concerning television rights. Women’s soccer has grown rapidly in Spain since the 2015 World Cup, when the country made its first appearance in the showcase tournament. Calls for greater equality for men and women in the sport have increased significantly since then. Barcelona won the Spanish Super Cup final 10-1. AP

| Tuesday, February 11, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Anne M. Peterson The Associated Press

ARSON, California—Lynn Williams and the rest of the US women sensed it was just a matter of time before they wore down Canada. Williams broke open a scoreless stalemate with a goal in the 61st minute and the United States beat Canada, 3-0, on Sunday in the title match of the Concacaf Women’s Olympic qualifying tournament. “We have a great front line, we have a great midfield. The defenders were doing their job in the first half, so now it was our turn to get the job done in the second half,” Williams said. Lindsey Horan and Megan Rapinoe also scored for the United States, which extended its undefeated streak to 28 games. The US did not concede a goal in five qualifying matches, and scored 25 times. The US and Canada had both already secured the region’s two spots in the Tokyo Games with victories in the semifinals. The United States, ranked No. 1 in the world, beat Mexico, 4-0, in one semifinal and eighthranked Canada edged Costa Rica in the other game on Friday. The US has been to every Olympics since women’s soccer was included in 1996, and has won four gold medals. But the Americans were knocked out in the quarterfinals by Sweden four years ago in Brazil, the team’s earliest Olympic exit. Canada has made the field in the past three Olympics, winning the bronze medal in the last two. It was the fourth time the teams have met in the final of the region’s qualifying tournament, with the United States winning all four. “In the first half, throughout the whole game, they were very organized, very disciplined. They’re one of the best teams in the world, top 10 in the world, so it’s not going to be easy, if you sit back it will be really hard,” US Coach Vlatko Andonovski said. “I think in the first half we weren’t patient enough and not sharp enough. But I think in the second half we came out with a little bit more energy, we moved the ball a little faster, which ultimately resulted in a goal.” Andonovski started Williams and Jessica McDonald, giving Tobin Heath the day off. Rapinoe came in as a substitute. Other veterans on the bench for the match included defenders Becky Sauerbrunn and Kelley O’Hara.

RAPINOE AND CO. SLIP PAST CANADA Julie Ertz wore the captain’s armband for her 99th appearance with the team. Christen Press started and her streak of scoring in six straight games ended. Press was the fifth US woman with a scoring streak at least that long, joining Mia Hamm, Michelle Akers, April Heinrichs and Carli Lloyd. It was the longest such streak for the US since Lloyd scored in seven straight in 2014. As expected, Canada Coach Kenneth Heiner-Moller emphasized defense against his offensively proficient opponent, starting five defenders. The approach worked well throughout the first half. And despite the defensive stand, Canada did have its opportunities. Jessie Fleming, a standout at UCLA, had an attempt that went over the goal and into the netting. Press’s blast in the 32nd minute hit the crossbar. A few moments later, she caught Canada goalkeeper Stephanie Labbe far out in front of her net, but the attempt from distance sailed over the goal. Christine Sinclair’s attempt on a breakaway in the 38th minute was stopped by US goalkeeper Alyssa Naeher. Williams finally broke through Canada’s defense with a blast into the upper corner for a 1-0 lead. Horan doubled it 10 minutes later when she dribbled around two defenders and finished with a perfectly placed shot that Labbe couldn’t reach. After her late goal, Rapinoe struck her victory pose with both arms raised toward the crowd, a move made famous last summer when the United States

won the World Cup. “I actually don’t think they did too much to adjust. We made three individual mistakes, and gave them three goals,” Sinclair said. “I thought we played a pretty even first half, obviously they dominated possession. But against a team like that, you can’t give them goals, and we did that tonight.” Both teams went undefeated in the run-up to the final match, with Canada scoring 23 goals and the United States scoring 22. Sinclair became

the all-time leading international goal scorer during the group stage. She currently has 186 goals; retired US star Abby Wambach had 184. Canada has won just three times in the 60-match series against its North American rival. Attendance was announced at 17,489 at Dignity Health Sports Park, home of the LA Galaxy. The United States hasn’t lost on home soil since July 2017.

THE US’s Megan Rapinoe celebrates after scoring against Canada during the second half of their match on Sunday. AP

Financial irregularities in African soccer exposed by audit F

inancial irregularities across African football have been unearthed in a confidential audit of the continent’s governing body that raises concerns about the legitimacy of millions of dollars of cash payments that were distributed to executives and national associations with sparse records. The Associated Press on Saturday obtained a copy of the private forensic review of the Confederation of African Football (CAF) that found “possible abuse of power” and reported “potential fraudulent adjustments” in accounting records that are “unreliable and not trustworthy.” The report by financial services firm PwC, which is more than 50 pages long, covers the period 2015-19 and the presidencies of Issa Hayatou and successor Ahmad, who remains in power despite an ongoing ethics investigation that predates this audit. The review was undertaken last year when Fifa was effectively running the troubled African confederation. The auditors had to grapple with limited documentation to account for payments at CAF worth millions of dollars that raised doubts about the nature of contracts, the need for family members of executives to receive payments, and raised the prospect of kickbacks and tax evasion attempts. The lack of paper trail related to financial transactions before 2015 has already been highlighted as an area needing further investigation, according to separate recommendations from a joint Fifa-CAF taskforce in another document obtained by the AP. The group, which includes political and legal figures from across Africa, has urged due

diligence checks on payments from Fifa and CAF to the 54 member-associations on the continent. There was particular investigation of $10 million of Fifa development funds for Africa which amounted to 40 payments between 2015 and 2018. PwC found $4.6 million from 14 payments had “no or insufficient supporting documentation to determine the beneficiary, purpose, and benefit for CAF.” The auditors said they could not find the purpose of the payment, the ultimate beneficiary or evidence the cash had been received in some cases. Another $3.6 million accounting for 21 payments was “considered unusual or deemed higher risk,” the report said. Only five payments of those scrutinized—amounting to $1.6 million—had “sufficient documentation” and were said to have been used for the purpose intended. “Based upon the procedures performed and documents reviewed, several red flags, potential elements of mismanagement and possible abuse of power were found in key areas of finance and operations of CAF,” the PwC auditors said in the report. “Given the serious nature of certain findings and red flags identified from the preliminary due-diligence, we cannot rule out the possibility of potential irregularities.” The large number of cash payments concerned PwC, which said they resulted in “little or no audit trail to verify if the cash has been spent legitimately or not.” It noted a round sum of $215,000 spent during a general assembly meeting in Ethiopia in March 2017.

“Lack of key financial controls and absence of segregation of duties in day-to-day financial operations was observed during the review,” PwC found. “Often a single employee would have the authority to, and have executed, conflicting duties, such as approving expenditure, receiving of goods and services, and approving payments.” The report outlined payments to members of the CAF executive committee from the governing body for gifts, donations and even a funeral. “No supporting documents could be provided for review,” the report said. The report found that CAF appeared to pay around $100,000 for 18 people, including its president, Ahmad, and federation heads to travel on an Umrah pilgrimage to Mecca and Medina in Saudi Arabia. “CAF stated that the cost of traveling of 18 people between their home countries to Egypt was booked as ‘official expense’ toward organizing a meeting at Egypt and the cost of traveling between Egypt and Saudi Arabia was taken by CAF’s president personally,” the report said. “However, CAF could not provide any documents to support that an official meeting was organized in Egypt during this time. It is to be noted that the presumed costs of travel between Egypt and Saudi Arabia is in the range of $20,000 to $30,000 higher than the actual reimbursement made by CAF’s president.” Ahmad declined to comment in detail on the audit’s findings. The audit raised concerns that “several large

procurement transactions” were handled by the executive committee or management, while cutting out specialist staff like the marketing department for a deal with French-based company Tactical Steel. PwC found its main business appeared to be in design, manufacturing, sales and gym products but received $4.4 million from December 2017 to December 2018 to supply football equipment, including referees kit and footballs. Purchases were arranged through e-mail exchanges rather than with contracts and full invoices documenting the deals. A Tactical Steel staff member reached on Saturday was not aware of the audit but the company based in La Seynesur-Mer has previously denied wrongdoing. In 2017, Ahmad, who is from Madagascar, ended the 29year reign of Hayatou as head of the Confederation of African Football. When CAF was under Hayatou’s leadership, PwC found indemnities and allowances were claimed by spouses of members of the ruling executive committee and highlighted $36,150 of payments across the 2016 African Nations Championship, including $100 a day for food. PwC had to reconstruct the money trail because the lack of structure that it found was “not in line with generally accepted accounting principles,” including around 80 percent of payments to vendors, member-associations, executive committee members and referees just listed as “suppliers’ payments.” Fifa Secretary-General Fatma Samoura has just ended a six-month spell effectively running the troubled body. Fifa convinced CAF to accept Samoura in a role of general

Ahmad remains in power despite an ongoing ethics investigation. AP

delegate for Africa last year in an attempt to clean up the confederation. CAF did not extend her mandate last week but Fifa said her involvement in the governing body had helped to “accelerate the implementation of the reform process.” Fifa declined to comment on the audit but the Zurichbased body has been working to overhaul compliance procedures at CAF. Ahmad is a vice president of Fifa through his African leadership position. AP

God’s word in our lives

EAR God, touch our minds and hearts. How real to us is the doctrine of the Body of Christ? Are we respectful of the different gifts and roles of the other members of our community? Have we always done our share in the building up of Christ’s body? Have we shown gratitude for the contribution made by others? Oh Lord, inspire us to be always in the state of grace so we can receive the Body of Christ every time we participate in the Celebration of the Holy Mass. 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

THE curbless shower in the Asian-inspired master suite transitions seamlessly from the bathroom floor to the shower. PATRICK BARTA/TAUNTON PRESS VIA AP

CIRCLES: WATERCOLOR AND PAPER IN BLOOM D4

Tuesday, February 11, 2020

THE metal rods add a beautiful industrial design feature while creating a minimal separation between the stairs and the rest of the room.

Small home living: not ‘downsizing’ but ‘rightsizing’ BY KATHERINE ROTH The Associated Press

ITH the current trend toward decluttering and downsizing, there are plenty of books about how to winnow down possessions to the few that are truly necessary and loved. This book shows how you can live well once that’s done. In Downsize: Living Large in a Small House (2019, The Taunton Press), author Sheri Koones focuses on practical ways to live well at home once you’ve streamlined your belongings and are living more compactly. “It scares people to think of moving into a smaller space, but every single person I interviewed who has made the transition says they are so happy they did,” Koones says. “Time and again, people used the word ‘liberated’ to describe their move to a smaller space,

with homes requiring far less time and money to maintain.” Koones, who recently relocated from a sprawling 6,800-square-foot house in Greenwich, Connecticut, to a 1,400-square-foot home closer to town, has experienced the transition herself. “It’s not just empty-nesters anymore,” she adds. “Younger people too are in couples where they’re both working, they’re having children later, they want to be active and they don’t want to be doing maintenance on the weekends. They don’t want to be tied down to mowing lawns and doing all the other chores that come with living in a big house.” Living more sustainably and saving on energy costs is also part of the attraction of downsizing, Koones says. So is aging in place. There are people of all ages looking for features like a master bedroom on the main floor, or barrier-free showers. “Yes, older people with disabilities need them,

but even younger people break a leg skiing, or have situations where they want a barrier-free shower,” she says. The book features photos and illustrations of 33 well-designed small homes in urban and rural settings in the US and Canada. It examines the features that make each home a success, with advice aimed at those building, renovating or even just organizing their homes. Some of the features that Koones says can make a small home feel more spacious: ■ raised ceilings, well-positioned windows and light wall colors. ■ multifunctional furniture, like tiny kitchen tables that can expand to accommodate dinner guests. ■ flexible rooms that can serve as office, bedroom and hobby room, for example. One house featured in the book has a garage with light fixtures and doors that open in front and back so that it doubles as an

GREG PAGE PHOTOGRAPHY/TAUNTON PRESS VIA AP

entertaining space. ■ creative storage ideas, like chairs that can hang on wall pegs, hooks for bicycles, and making the best use of alcoves or space under stairs. ■ fewer hallways, which allows for more livable space. Koones details specific types of roofs (like standing-seam metal roofs), flooring (concrete) and heating systems that are more energy-efficient and low-maintenance. “The key is to have a home that is efficiently designed, both in terms of energy use and in terms of space,” she says. “I refer to it as ‘downsizing,’ but a better word for it might be ‘rightsizing.’ For most of history, houses were more modestly proportioned, and we lived quite comfortably in those smaller homes. Over time houses got too big. Now the trend is heading toward smaller again.” ■

WORK OF SKILLED FILIPINO HANDS ON DISPLAY IN FRANKFURT

❶ WOVEN wood

scraps turned home décor from Woodinspirations Crafts.

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LAUNDRY baskets by Marketex Handmade Craft Corp.

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DECORATIVE bowl from fiberbased materials by Tuy Arts and Designs.

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VASE by Red Slab Pottery

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UNDER the theme “Hands That Work,” the Lifestyle Philippines delegation in the upcoming German trade fair Ambiente 2020 celebrates Filipino craftsmanship. The Philippine furniture and home décor sector presents an exciting collection of products that highlight the capable, skilled hands of local manufacturers and their material manipulation techniques that enable them to turn various raw materials into quality export products. The event is ongoing until February 11 in Messe Frankfurt in Frankfurt, Germany, and the Philippine participation has been made possible through the leadership of the Department of Trade and Industry’s Center for International Trade Expositions and Missions (Citem), in partnership with the Philippine Trade and Investment Center-Berlin. More information is available www.citem.com.ph/ambiente. Each of the 24 homegrown exhibitors from the Philippines features their diverse specialties in transforming raw materials, such as wood, metal, natural fibers, and rock and clay into functional and design-driven pieces. This year’s Philippine delegation in Ambiente features Tarlac as the very first Partner Artisan Community. One of Tarlac’s representatives is Woodinspirations Crafts, which will show their wood manipulation expertise for the first time in Ambiente. Using only sustainably sourced wood, Woodinspirations Crafts has been making bowls, trays, decorative, fashion and homestyle items from discarded wood pieces. Workers from nearby industrial parks that assemble chip sets and wiring systems sell the wood which the company then repurposes and transforms

by stitching pieces together. The results are stunning wood objects and conversation pieces designed for the international market. Other participating exhibitors that specialize in wood are Celestial Arts Inc., Betiscrafts Inc., More than a Chair Inc., South Sea Veneer Corp., Finali Furniture and Home Accessories, and Chanalli. Meanwhile, Arden Classic Inc. has become a master storyteller through their array of metal crafts. They use plants, animals and even mythical creatures as subjects for their whimsical collections that highlight an ingenious way of harnessing metal. From specializing on abaca handmade paper and products, Tuy Arts and Designs has evolved to explore other fiber-based raw materials. Using their knowledge in design, product development and visual arts, the company was able to manufacture upcycled products using sugarcane leaves. The leaves are skillfully crafted by the wives of the sugarcane farmers providing them with an additional income. The participating exhibitors are also part of Manila FAME (www.manilafame.com), the country’s foremost design and lifestyle trade show. This year, Philippine exhibitors are joining different lifestyle events in major key cities around the world, and will be coming home to Manila FAME for a bigger and stronger show from October 15 to 17 in Metro Manila, Philippines.

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Tuesday, February 11, 2020

Pages BusinessMirror

www.businessmirror.com.ph

Today’s Horoscope

SAVE THE DATE

The Big Bad Wolf Book Sale Manila 2020 opens this Friday, Valentine’s Day, at the World Trade Center in Pasay City.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Taylor Lautner, 28; Kelly Rowland, 39; Jennifer Aniston, 51; Sheryl Crow, 58. HAPPY BIRTHDAY: Don’t make excuses or take no for an answer. Be strong, dependable and ready to take on the world. Trust in your ability to get things done and to open doors that will allow you to reach your goals. It’s up to you to make your life better, so don’t expect someone to do the work for you. Your lucky numbers are 5, 17, 22, 26, 30, 39, 41, 46.

ARIES (March 21-April 19): Learn something new. Open your eyes to new technology, and keep up with the times. Change can be made, but do so for the right reason, not for revenge or boredom. Make what you do count for something. HHHH

Big Bad Wolf Book Sale partners with IPOPHL to shed light on copyright system

By Jt Nisay

HEN an aspiring author finally manages to fulfill a lifelong dream and write the last sentence of his or her first book, what then? Not a lot of people are acquainted with the workings of copyright and intellectual property. Among them, she admits, is Big Bad Wolf Book Sale cofounder Jacqueline Ng, citing as example her difficulties in the past trademarking the name of the now global round-the-clock book sale. “It was difficult even for a cooperation like ours with resources. What more to an individual without resources,” she said. “What is that individual going to do? Does she even know the first step? Is she supposed to stop the dream?” The dearth of general know-how on intellectual property led Ng to say a quick yes the moment their group was approached by the Intellectual Property Office of the Philippines for a collaborative project at Big Bad Wolf. The idea originated from former IPOPHL Director General Atty. Josephine Santiago, a fan of the book sale who wanted to utilize the crowddrawing event as a platform to increase awareness and spread information on copyright system. Copyright—according to Atty. Emerson Cuyo, director of the bureau of copyright and related rights for IPOPHL—is the economic right of people producing works in the literary and artistic sense, covering anything from painting to songs and, of course, books. In December, IPOPHL signed a memorandum of understanding to partner with Big Bad Wolf for its run in Manila, which begins this Friday, February 14, and will run every minute thereafter until February 24 at the World Trade Center in Pasay City. The two parties are set to launch programs and projects that will raise awareness and appreciation of the copyright system among authors, publishers, users and the general public. IPOPHL will conduct information activities to enlighten authors on how to maximize the value of their copyright works. The creators and authors of

various copyrightable works may register and deposit their work at the IPOPHL booth throughout the 11-day event. “Most local authors in the Philippines do not possess the right knowledge to start their business,” Cuyo said. “One of our main goals is to develop the publishing industry in the Philippines by providing them with the tools and knowledge to jump-start their career.” “I really hope that customers will be able to benefit from the partnership,” Ng said. “Whether you are an aspiring designer, artist or author, it’s all about getting your work protected.” 33,000 TITLES AT UP TO 90-PERCENT DISCOUNT THE Big Bad Wolf Book Sale was born in 2007 at a small space in a neighborhood mall in Malaysia. The mission was to dispel the notion that “anything important is expensive” by offering books at a price even lower-income families can afford. The event only grew together with its mission over the past decade. Big Bad Wolf has reached 32 cities and 10 countries, selling more than 50 million books. In Manila, the 24-hour book sale has been able to draw baggage-lugging bookworms by the thousands at even wee hours in the morning. The event returns this Friday for the third consecutive year with the biggest edition to date, with over 33,000 titles available at up to 90-percent discounted price. There are books available for as low as P60. “We are hoping that you don’t just buy things for yourself,” Ng said. “Please buy for someone else. Let the joy of reading be able to spread beyond you.” This year, readers can delve into an ocean of genres, such as literature, thrillers, young adult, romance, self-help, architecture, cooking, graphic novels and many more. There will also be rows upon rows of children’s books, including storybooks, activity books, board books, pop-up books and picture books. Making a comeback at this year’s Manila run are the Magical Books series that incorporates augmented reality (AR) technology, which makes for quite a reading experience for children. The Big Bad Wolf

Book Sale is the exclusive distributor in Asia for the Magical Book series that engages kids to read, play and learn. ‘A BOOK CAN LITERALLY CHANGE A LIFE’ MORE than just selling books, the Big Bad Wolf Book Sale is a reading advocacy organization that aims to foster readership among the less fortunate through its corporate social responsibility (CSR) arm, Red Readerhood, and as a part of the Big Bad Wolf Book Sale’s long-standing partnership with Gawad Kalinga (GK) in the Philippines. For the past two years, the Big Bad Wolf Book Sale has partnered with GK to bring aid to communities in the Philippines. As one of the leading community outreach programs in the country, GK has spent the last 17 years helping improve the lives of underprivileged Filipinos nationwide. “The partnership is really built on a common desire to inspire greatness from each other, as doing good is not good enough. We need to do good with others, so we can do greater things together,” said GK Executive Director Jose Luis Oquinena. “This whole idea of unleashing the imagination of the poorest was a critical step for us toward ending poverty—and ending the poverty of capacity. And we saw books as building blocks of that strategy.” In 2019, a total of 16,123 books were collected from all four sales in the Philippines (Manila, Pampanga, Cebu, Davao), and distributed in Palawan, Dumaguete, Negros Oriental, Leyte and the Cordillera Administrative Region. The Big Bad Wolf Book Sale Manila 2020 will be kick starting the donations with 1,000 books. Visitors are encouraged to donate books at the Red Readerhood corner and the collected books will be distributed to communities, barangays and public schools in Mindoro and affected communities of the Taal Volcano eruption in Batangas. “When we talk about empowerment and inspiring someone, the people with the least are the ones who need the most, right?” Ng said. “It could be just a quote, it could be just a verse, a passage. We must never forget that a book can literally change a life.” n

TAURUS (April 20-May 20): You’ll find it difficult to deal with an emotional situation. Don’t leap when you should be taking a moment to consider how your words or actions will affect others. Show compassion, and be willing to work with those you encounter. HHH

GEMINI (May 21-June 20): Spend more time listening to others and assessing your situation, and how best to deal with an opportunity. Time is on your side, and making the right move will make a difference in how you get along with others. HHH

CANCER (June 21-July 22): Share your thoughts and feelings, and you will find out exactly where you stand. Don’t hesitate to tell someone you love them or to make your intentions known. Your honesty will lead to positive changes at work and at home. HHHH

LEO (July 23-Aug. 22): You may want to change others, but, perhaps, it’s you who needs to change. Don’t force others to do things your way. Be sensitive to others’ needs and go about your business, and you’ll avoid interference. Keep in mind change begins with yourself. HH

VIRGO (Aug. 23-Sept. 22): Get out and mingle, network and discuss your thoughts with someone you respect. The information you pick up will help you bring about a change that will improve your life. Don’t let anyone take advantage of you. Say no to poor influences. HHHHH

LIBRA (Sept. 23-Oct. 22): Listen carefully and do your own fact-checking. Look at the cost of things others want you to do. A change is good only if it doesn’t put you in debt or cause additional stress. Do what’s best for yourself. HHH

SCORPIO (Oct. 23-Nov. 21): Get together with people who have something to offer. The more you share, the more you will learn. Try something you’ve never done, and expand your knowledge, experience and interests. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Do something energetic. Keep busy, help others and scout for new opportunities. You will meet people from all walks of life. Be wary of anyone offering vague information or who appears to be prying into your personal affairs. HHH

CAPRICORN (Dec. 22-Jan. 19): Share your thoughts about the way you want to live or the changes you want to make personally. Adjust your lifestyle to fit future plans to advance. An unusual offer should not be ignored. HHHHH

AQUARIUS (Jan. 20-Feb. 18): Choose your words carefully and your actions with thoughtfulness. How you approach others will determine how well you will do and how far you will get. Hard work will pay off and encourage positive change and greater opportunities. HH

PISCES (Feb. 19-March 20): Consider every angle of a situation before you make your move. Waste will be the result of taking on too much when less would have been sufficient. Good things can happen, but first you need to recognize what’s entailed. HHH BIRTHDAY BABY: You are sensitive, curious and helpful. You are adventurous and intuitive.

‘time to rhyme’ BY KRAVIS AND MIRIAM ESTRIN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Prize won by Marie Curie 6 “How ___ I to know?” 9 Stylish 13 Elicit a grin from 14 Type 15 WNBA game site 16 Like schemes that require money 18 Ada Lovelace’s poet father 19 Arrays of resources 20 Bedecks 21 What might hold a lot of cereal 22 Down Under birds 23 UK lawmakers 26 Ready for shenanigans 31 Lumps of dirt 33 From both speakers 34 Nadal, to fans 35 Org. concerned with wedge issues? 36 Dutch cheese 37 Fascinate 40 Diva’s domain 41 Amy Winehouse album with the song “Rehab” 44 Taylor Swift’s signature lipstick shade

5 Takes all of, as a blanket 4 46 (I’m shocked!) 48 Garment tied with an obi 51 Sour candy brand 55 Shade similar to eggshell 56 Especially eager 57 Thompson of Thor: Ragnarok 58 Fireworks reaction 59 Central Florida city 60 To be, to Trajan 61 Make out sesh in the park, e.g. 62 Maguire of Spider-Man DOWN 1 California wine mecca 2 Congresswoman Ilhan 3 Purchases 4 ___ Park, Colorado 5 Meteor shower named for a zodiac constellation 6 “Weeping” tree 7 “___, poor Yorick!” 8 Where to see the 5-Down 9 Hibernation at ultralow temperatures, in sci-fi 10 Sir, in Stuttgart

1 Privy to 1 12 Headphones, slangily 15 Take aboard a spaceship 17 ___ Alto 20 Famous ___ cookies 22 Sicilian peak 23 Golden Arches pork sandwich 24 Primary strategy 25 The fourth letter of “cancel,” but not the first 27 TV dance judge Lythgoe 28 “A 23-Down and fries,” e.g. 29 Sister Sledge’s ___ Family 30 Wanderer 32 Candidate who’s a long shot 35 Places for a pint 38 2017 Allison Janney biopic 39 Type of 1960s boots 40 Response to “I’ve got an idea!” 42 Mystery great Christie 43 Online shopping icon 47 Retail spot for Spot 48 Toy with a tail 49 Burl who sang “A Holly Jolly Christmas”

0 Velvety forest growth 5 51 Ebony or mahogany 52 Saudi, e.g. 53 Hand (out) 54 Dog command often given with a forward-facing palm 56 Short flight

Solution to yesterday’s puzzle:

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FREE T-shirt printing at the Palma Hall lobby

DIRECTOR Chris Millado, with Joel Lamangan and Monique Wilson

THE UP Staff Chorale and the UP Symphony Orchestra conducted by Prof. Chino Toledo

Tuesday, February 11, 2020

TOYM IMAO, with his installation in the background

NAGBABADYANG UNOS, installation by Imao

The songs of struggle Text & photos by Joel Saracho jbsaracho@gmail.com

T was raining intermittently that Friday afternoon, and the still dark clouds at 4:30 in the afternoon made the production staff jittery and antsy. Sound check and last-minute technical preps were rushed. The audience started trickling in, rain jackets and umbrellas in tow. Among the early ones were poet and musician Jess Santiago; academics Roland Simbulan and Ferdie Llanes; Mike and Carol Araullo; the Abraham family, led by Edru, supporting Becky Abraham who would render a number. Very few took the chairs arranged for the audience and, instead, they roamed around looking for friends and comrades, checking out the covered performance area fronting the Palma Hall steps, where members of the 65-piece orchestra started checking their instruments. On the first landing of the steps were more monobloc chairs where special guests would later be seated, among them were National Artist for Music Ramon Santos, National Artist for Literature Bienvenido Lumbera along with University of the Philippines (UP) President Danny Concepcion, current Chancellor Mike Tan and celebrated incoming Chancellor Fidel Nemenzo. A wooden monstrancelike image stood in the entrance to the lobby of Palma Hall. Right behind it was a sculpture by Toym Imao, representing the disappeared. It reminds those old enough to remember the play Pagsambang Bayan by Bonifacio Ilagan. Arranged akin to an altar, the image seemed to consecrate the space—the steps and the Palma Hall lobby—site to many protest actions and discussion groups when it was still called the AS, or Arts and Sciences. ‘NAGBABADYANG UNOS’ HOVERING above it was the design centerpiece, discarded arm chairs painted red formed like a cloud. The artist, Imao, said the materials are reminder of the chairs used to barricade the UP Diliman streets during the First Quarter Storm (FQS) and in the Diliman Commune of 1971. The assembly of the materials to form a singular image is a metaphor for the coming storm. As the audience continue to gather, the atmospheric sound design created by Teresa Barrozo added to the tension, first subtly then intensely. The pounding of a heartbeat, interlaced with sounds of helicopter hovering and sirens from police car blended with the humidity, filling the air with unease. On other days, it was an oppressive weather. But not tonight, when kindred souls had gathered to celebrate. And then it rained. It was now quarter to the hour. In the tech booth, Ilagan, scriptwriter and the night’s narrator, started to be fidgety. “Ano kaya ang mangyayari kung ikansel ang palabas?” he muttered, wondering how the audience would react if the show was canceled. Director Chris Millado asked voice-over announcer Brian Arda to announce the performances would be delayed by a few minutes. Applause from the audience. They had struggled and waited for decades—what’s a few minutes of waiting for songs to reminisce those days? THE ‘FQS’ FQS: Konsyertong Bayan sa Ika-50 Taon was a concert

produced to commemorate the FQS of 1970. It was written by Ilagan, directed by Millado, with Prof. Chino Toledo as musical director. This creative team had gathered the UP Symphony Orchestra and the various choirs of UP for a night to remember the radicalism, and bravery, of the student movement which commenced in former President Ferdinand Marcos’s State of the Nation Address on January 26, 1970. The violent dispersal from that mass action prompted an indignation rally on January 30, when student activists commandeered a firetruck and rammed in the gates of Malacañang. Writer Pete Lacaba captured these stories in his collection Days of Disquiet, Nights of Rage when massive demonstrations were organized, some more violently dispersed than the others. It lasted until March of that year, thus the term “first quarter storm.” It was a period when even radical activists, the likes of Edgar Jopson, were radicalized by the state’s fascist response to student protests. There were discussion groups, indoor assemblies, rallies and demonstrations, labor and transport strikes. The status quo was shattered. Even the mainstream entertainment industry was not spared of the changes with Nora Aunor, an antithesis to the popular movie stars of the time, bloomed to superstardom. The Philippine sociocultural scene was never the same again. It was the second propaganda movement, said the national democrats, a continuation of the struggles initiated by the propagandists of 1896 that culminated in the Katipunan Revolution led by Andres Bonifacio. In last, last Friday’s concert, this continuing struggle was highlighted with Bonifacio’s poem “Pag-ibig sa Tinubuang Lupa” (set to music by activist Weslu) sung by Abraham, accompanied on guitar by her brother Lester Demetillo. We missed Korina Constantino, the other half of Inang Laya, in that number. This was followed by “Jocelynang Baliuag,” a love song of the Katipuneros, interpreted by soprano Stefanie Quintin Avila with the AUIT Vocal Ensemble, UP Singing Ambassadors and UP Staff Chorale. SINGING OUR SONGS IT was half past 6 when the program started with sound sense of a violent dispersal (performed in the AS lobby). The opening song was a rightful salute to the activists (FQS veterans and young “stormers,” as Tan would call them), “Di Pangkaraniwan” by Musikang Bayan: “Mabuhay kayong mga di pangkaraniwan, pag-ibig ninyo ay walang hangganan. Mabuhay kayong lubos ang katapatan, mabuhay kayo kailanman.” He followed this up with “Ano Ba Ito ang GuloGulo,” a song that would connect the past to the present, singing the contradiction “sinungaling ang pinaniniwalaan, magnanakaw ang pinatitiwalaan,” with a catty refrain that speaks of a confused culture: “Ano ba ito ang gulo-gulo, ang gulo-gulo.” “Awit ni Bobby”, written by Santiago for slain doctor Remberto de la Paz and rendered by Greg de Leon, was a tribute to those who offered their lives in the struggle. The second act touched the historical influences in the struggle, and included “Tagping-Tagping Kundimang Hibik ng Bayan,” a medley of old

Filipino songs that may not have been popular in the protest movement. Upeng Galang’s “Sulong Gerilyero,” provided what could be closest to a novelty number, to remember the Hukbalahap battle. A violin solo (Janine Samaniego) of a part of The Internationale provided a fitting transition to the next act, focusing on the 1970s to the present. After an excerpt of a Panday Sining street play, Kalatas ng Manggagawa (from a poem by National Artist for Literature Amado V. Hernandez), the concert highlight of FQS came, with Rody Vera doing solo vocals with the UP Singing Ambassadors and the UP Staff Chorale. The FQS vets were up on their feet as they hummed to “Awit ng Mendiola” (“taas ang kamao tanda ng paglaban, daan-libong anak pagsulong ang sigaw”), and stomped their feet with “tamad na burgis, na ayaw gumawa, sa pawis ng iba, nagpapasasa. Walang hiya!” and sung with “manggagawa at magbubukid, bumuuo ng kawal ng bisig. May simulaing mapaghimagsik,” and drew their clenched fist up in the air with “ang masa, ang masa lamang, ang siyang tunay na bayani.” There were chants of “Makibaka, huwag matakot!” and “Marcos, Hitler, Diktador, Tuta!” The remembering selves were in the frontline again. There was a respite when Malvin Macasaet started his haunting rendition of “Alamat ng Lahi” (lyrics by Hernandez, music by National Artist for Music Lucio San Pedro), with the choirs. The solemn part followed with the roll call of the struggles’ heroes and martyrs by Joel Lamangan and Monique Wilson, as Santos and Lumbera led activist leaders in offering flowers. Never has a roll call been as dramatic as when one hears names of people who were once flesh and blood in the streets and at work or school: Jose G. Burgos Jr, Behn Cervantes, Lino Brocka, Ishmael Bernal, Armando Malay Jr., Paula Carolina Malay and more names, more comrades. History is filled with people who dreamed and struggled. Honoring these heroes was the UP Cherubim and Seraphim singing “Bella Ciao,” adapted in 1984 from an old Italian anti-fascist song. The song found a new popularity when it became theme music for the TV series La Casa de Papel (Money Heist), and was also used in the Netflix film The Two Popes. In their respective messages, Concepcion, once seen as a Marcos loyalist, vowed to uphold the university’s tradition of protecting human rights and academic freedom. Outgoing Chancellor Tan, on his part, acknowledged the younger activists (he called them stormers) for continuing the militant tradition of UP. Nemenzo, the next chancellor, recalled the UP scenario in his childhood when the FQS was brewing. “The Edsa revolt did not start in 1983 [the Aquino assassination],” he said, pointing out those historical days of fighting for democratic ideals. In the finale, amid the singing of “Bayan Kong Hirang” and “UP Naming Mahal,” a huge red cloth enveloped the crowd on the steps of Palma Hall. They were all there, the natdems and the socdems, and their many variations, old and new, young and old, under one flag of struggle. The poetry was not lost. There were tears in remembering. A senior activist asked, “Will there be new songs as we continue the struggle?” n

HAJJI ALEJANDRO

‘POWERHOUSE VALENTINE’ AT NOVOTEL MANILA

CELEBRATE life and love with OPM icon Hajji Alejandro, the internationally acclaimed Philippine Madrigal Singers and powerful vocalist Dessa in Powerhouse Valentine, happening on February 14 at the Monet Grand Ballroom of Novotel Manila in Araneta City. With stage direction by Calvin Neria and musical direction by Elmer Blancaflor, Powerhouse Valentine is a dinner concert that showcases the bravura of Hajji, the Philippine Madrigal Singers and Dessa, as three of the best Filipino artists bring live entertainment in an unforgettable evening of excellent music. With an awe-inspiring career that spans for almost 45 years, Hajji is a legendary Filipino artist who is one of the major proponents of OPM; having recorded and popularized mammoth hits, such as “Kay Ganda ng Ating Musika,” “Nakapagtataka,” “Panakip Butas” and “May Minamahal.” Hajji has performed live not only in sold-out venues here in the Philippines but the world over, romancing generations of music lovers with his immortal classics and distinct brand of artistry. The Philippine Madrigal Singers, or simply the Madz, is the very first choir in the world to win the European Grand Prix for Choral Singing in 1997 which they took home again in 2007, making the group the only choir in the world to win the award twice. For almost 60 years, the Madz has been performing around the world bringing honor and prestige to the country, named Artists for Peace by Unesco, the first Filipino choir to perform at the iconic Teatro Colón in Argentina; and the very first choir in the world to receive the BrandLaureate Award as the world’s best chorale ensemble from the Asia Pacific Brands Foundation, to mention a few of the countless recognitions they have brought home to the country. Meanwhile, Dessa is one of the most sensational live performers around with a vocal range and electrifying stage persona that never fail to delight audiences around the world. Her mainstream career kicked off after she bested the most experienced contestants in Kazakhstan in The Voice of Asia in 1993 where she also won the FIDOF award as best singer; the SAGA Yoshinogari Festa award in 1998 in Saga, Japan; and the Best Interpreter plum in the 1999 Asia Song Festival in Malaysia. In the field of recording, Dessa recorded the anthemic ballads “Bring Back the Times,” “Saan Ka Man Naroroon” and “Lipad Ng Pangarap.” Together, Hajji, the Madz, and Dessa will dazzle and thrill Filipinos in a world-class, once-in-a-lifetime Valentine musical spectacle that will encompass genres, such as soul, disco, jazz and R&B. Part of the proceeds of Powerhouse Valentine will be donated to its official beneficiary, the Philippine Cancer Society. Tickets to the one-night-only concert are available at Ticketnet and Ticketworld.

Tuesday, February 11, 2020

Art

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Watercolor and paper in bloom CIRCLES JT NISAY

jtnisay@gmail.com

HE process of watercolor requires the fluidity of its aesthetic. When the artist musters the courage to dive in, the only path to the other end is forward—and only forward. Thus, painted together with the captivating flow and disarming honesty of a quality aquarelle piece is the triumph of a watercolorist, who managed to swim all the way through without gasping for air and correction from an unforgiving medium that does not allow such. On view at the Art Gallery by The Manila Hotel until March 31, is Paper in Bloom, a group exhibition of 48 purely watercolor works, or tales of victories, in uniform sizes, frames and subject—the flower. Showcased are paintings of Waling-waling and phalaenopsis by members of the Philippine Chapter of the International Watercolor Society (IWSP), accredited by the SEC under the group name Philippine Guild of Watercolorists (PGW). One of the featured pieces is titled Affectionate by PGW member Judy Liuson. The textured and calligraphic strokes from her formative training in Chinese painting translated in a tender depiction of a pink orchid blooming from a green branch against a blue background. Another is by registered nurse Kyle Fortu-Legaspi, titled Mother Queen. Painted is also a pink orchid, but with a totally different approach, as Legaspi, a nurse turned full-time artist, employed a wet-on-wet style where the flower hazes out on the sides and sharpens on the center for a dreamy effect. The other artists involved in the group show are

Bianca Borlagdan-Luztre, Suklin Chang-Pena, Buds Convocar, Romina Dayanghirang, Jerry dela Rosa, Dinna delos Reyes, Edna delos Reyes, Rolly delos Santos, Hemy Fabay, Jean Govinda, Ella Hipolito, Elizabeth Jarantilla, Sarah Luson-Ongsun, Christine Nunez, Tessa Punzalan-Brodeth, Sheila QuisumbingBondoc, Jinky Rayo, Melanie Reyes-Tuquet, Thur

Toledo, Manny Vailoces, Ralph Villaluz and Arvino Yanuario. The PGW was founded in April 2014, to share with the rest of the world the exceptional talents of Filipinos in watercolor painting, and to propagate the practice of watercolor in general. PGW members include hobbyists and professional artists who

participate in the guild’s National Watercolor Competition and Exhibition every year at the GSIS Museo ng Sining. According to PGW President Jinky Rayo, watercolor painting is still underappreciated in the Philippines, contrary to its high stature as a revered medium in the West, and in other Asian countries. Part of the reason for this, she said, is how the Filipino art community perceives the durability of watered paper. “They think it will easily decay,” Rayo said, “but as early as 4,000 years ago, during the peak of Egyptian civilization, they have been using water-based pigment to document their history, and these are still on view in museums to this day.” She added that the key is to use the right materials, starting with artist-grade watercolor paper to ensure durability, and artist-grade pigment to guarantee that the brilliance and transparency of the colors last. Also, needed are “a lot of practice, perseverance, determination and courage.” “It takes a lot of mental planning before you do an artwork and finish it,” Rayo said. “You need to overcome frustrations. When you do it and commit a mistake midway, start over. It takes a lot of determination to start a project and finish it, and this is why I call it the medium for the courageous and the brave.” She added that water color painting has its own life, as one can never really fully control the water used, only guide it. “It’s an emotional medium,” she said. “You have to be emotionally involved and inspired, and in love with the medium to be able to start and finish it. Otherwise, it would be lacking.” Aside from the ongoing exhibit, the PGW will also be hosting “Paper in Bloom: Watercolor Painting Workshops” on February 16 and 23, and March 15 and 21 at the Roma Salon, The Manila Hotel. Open to participants ages 13 years old and above, the workshop will focus on the basics of creating watercolor art, specifically urban landscapes, seascapes, florals, and still life subjects. Interested attendees may text or Viber 09178459133 for information and to register. ■

ON view at the Art Gallery by The Manila Hotel until March 31 is Paper in Bloom, a group exhibition of 48 purely watercolor works.

45 years on, ‘lost’ masterpieces see light in split Cyprus NICOSIA, Cyprus—It took more than 45 years, but 219 paintings thought “lost” or stolen—artwork that includes some of the most significant works produced by Greek Cypriot artists—have gone on display. One work by artist George P. Georghiou has been hailed as one of Cyprus’ “most iconic paintings.” The oil on plywood painting encapsulates the Greek Cypriots’ armed uprising against British colonial rule during the latter half of the 1950s that culminated in the Mediterranean island’s independence. With the canvas crowded with distorted figures, the distinctive work evokes one of Pablo Picasso’s best-known paintings, Guernica. “This is some of the most prized art in Cyprus and Greece,” said Yiannis Toumazis, an academic who serves on a committee tasked with using culture to build trust between ethnically divided Cyprus’ Greek and Turkish communities. Officials say the paintings are of incalculable artistic value but some could carry price tags well into six figures. A sample of the paintings were unveiled at an exhibit Monday at a disused hotel straddling the UN-controlled buffer zone that cuts across the capital of Nicosia. Greek Cypriot President Nicos Anastasiades and Mustafa Akinci, leader of the breakaway Turkish Cypriots, were on hand to launch the exhibit. The works had languished in the basement of a cultural center in the breakaway Turkish Cypriot northern third of ethnically divided Cyprus. They were put in storage there after being rounded up from private collections and public galleries after a 1974 Turkish invasion that was triggered by a coup aiming at union with Greece. Although Turkish Cypriots declared an independent state, only Turkey recognizes it. But an agreement last year aimed at boosting trust between Cyprus’ Greek and Turkish speaking communities saw the paintings reemerge. “To see the paintings returned was one of the most sentimental moments of my life,” said Androula Vassiliou, the committee’s Greek Cypriot cochairman. In return, Turkish Cypriots received rare archival footage from state broadcaster CyBC of Turkish Cypriot cultural and sporting events dating from 1955 to the early 1960s. The footage is a visual window to a past that had until recently lingered only in memory, said Turkish Cypriot Committee Cochairman Kani Kanol. Whether it’s Cypriot folk dances performed by Turkish Cypriots or Turkish Cypriot tennis legend Ilter Sami in action, the footage comprises a historical record that was previously inaccessible. Akinci, the Turkish Cypriot leader, hailed the exhibit as a “manifestation of the Turkish Cypriots and Greek Cypriots’ respect for each other’s artistic and cultural values.” “The common language of art, which is universal, serves as a unifying force,” he said. The exhibit was a bright spot amid prolonged uncertainty over whether moribund reunification talks for the island would be relaunched soon. “Art and cultural activities can tangibly contribute to efforts of achieving peace and reconciliation,” said Anastasiades. AP

PROPOSED ILOCANO-IGOROT ASTROLOGY, 122 x 122 cm, mixed media, carved rubber, Leonardo Aguinaldo, 2015, Galleria Duemila

TRIFLING CONVERSATIONS DIPTYCH, 37.2 x 49.2 inches, oil on linen, Valerie Chua, 2019, Underground

A ‘Creative Collective’ takes the spotlight GALLERIA Duemila’s artistic take on Carpe Diem; 1335Mabini’s exploration of mobility, history and critical engagement; and Underground’s solo presentation of Valerie Chua. These are some of the highlights of ALT Philippines 2020 that runs from February 14 to 16, at the SMX Convention Center at SM Aura Premier. ALT Philippines 2020 is the pioneer collaborative project of 10 galleries seeking to reframe the art show by showcasing new ways of presenting and experiencing art. Apart from Galleria Duemila, 1335Mabini, and Underground, other participating galleries include Artinformal, Blanc, The Drawing Room, Finale Art File, MO_Space, Vinyl on Vinyl and West Gallery. They will be presenting the work of over 150 contemporary artists. Galleria Duemila’s Carpe Diem: Beyond Seizing the Day exhibition curated by Angel Velasco Shaw brings together 10 diverse artists to challenge and further their process, and practice in ways that are not considered to be predictable to any given audience. These include Trek Valdizno, RM de Leon, Leonard Aguinaldo, Jose Tence Ruiz, Cian Dayrit, Rocky Cajigan, Moreen Austria, Junjun Montelibano, Mervy Pueblo and Josephine Turalba. In art practice terms, Shaw interprets Carpe Diem in the title to mean allowing creative time and thought for an artist to go beyond what people outside of themselves may expect of them, experiment in other realms outside of what they are familiar with, or use traditional materials/mediums in a different way than they are used to working in. Galleria Duemila, which means 20th century in Italian, is the longest-running commercial gallery in the Philippines and maintains a strong international

profile. 1335Mabini, an international gallery solidly grounded in the contemporary art ecology of Metro Manila, will be exhibiting a dynamic range of works by both established and emerging artists, in accordance with the gallery’s commitment to artistic positions and practices, exploring mobility, history and critical engagement with the environment, collective memory and politics. The featured artists are Poklong Anading, Cian Dayrit, Soun Hong, Nikki Luna, Jill Paz, Dexter Sy, Mark Salvatus, Rinne Abrugena, Gus Albor and Lizza May David. 1335Mabini was established in 2013 along 1335 A. Mabini Street in Ermita, and in 2017 moved to its current location in Karrivin Plaza, in Makati City. Underground will feature a solo presentation of the artist, Chua. Chua’s works explore how individuals retain relevant information as they move across different landscapes. Objects of memory are exalted, preserved or led to obsolesce according to how the present perceives its value. Underground has thrived as a proverbial shelter from the storm, a habitat for artists and art enthusiasts in a meeting of minds that look for something beyond the usual fare of a painting and into the brave and unconventional, extraordinary and vanguard. With that, it espouses an interesting mix of aesthetic works that gives artists their due leeway to explore riskier ideas and concepts. ALT Philippines 2020 is a pioneering art project by 10 of the country’s leading galleries committed to exploring creative new ways of presenting and experiencing art to meet the needs of the country’s’ vibrant and ever-evolving contemporary art landscape.

PARAISADO: DUGO’T ALAK, 245.75 x 177.80 x 88.90 cm; wood, metal, rubber, polyurethane varnish, oil and enamel; Jose Tence Ruiz, 2014, Galleria Duemila