BusinessMirror February 18, 2020 by BusinessMirror

PEZA EYES DEFENSE INDUSTRIAL COMPLEXES By Elijah Felice E. Rosales

HE Philippine Economic Zone Authority (Peza) is eyeing to transform several economic zones into defense industrial complexes that will allow the country to produce military equipment and weapons on its own. In a statement on Monday, Peza Director General Charito B. Plaza said the agency is putting in efforts to fully industrialize the Philippines with the creation of new economic zones. These new economic zones will include defense industrial complex, to be established among the poten-

Construction cranes dot yet another development area in Clark economic zone in this June 2019 BusinessMirror file photo. The Peza envisions transforming other idle base lands into robust hubs, this time as defense industrial complexes. BERNARD TESTA

@alyasjah

tial economic zones of the military’s reservation areas. According to Plaza, the defense industrial complex will allow the country to manufacture its own military and defense equipment, as well as weaponry. “They can start inviting defense industries whose products are what the AFP [Armed Forces of the Philippines] wanted to equip and modernize,” Plaza said. “Creating a defense industrial ecozone will not just modernize the country and the defense forces, but will also create jobs and put to use the long...idle military reservation areas. Because of our strategic location, we

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Covid-19 prompts bet on low-risk govt papers

By Bernadette D. Nicolas

@BNicolasBM

NVESTORS are parking their funds in low-risk government securities amid uncertainties posed by coronavirus disease 2019 (Covid-19.)

The Bureau of the Treasury’s (BTr) Auction Committee on Monday fully awarded bids for the Treasury bills (T-bills) worth P20 billion on offer amid strong market demand. The auction was nearly four times oversubscribed with total

bids reaching P78.3 billion compared to the P20-billion offering. All securities also fetched lower average auction rates than the previous auction and secondary market rates. National Treasurer Rosalia V.

de Leon told reporters they were “pleased” with the auction results. De Leon said the rates have gone down across all tenors as a result of the lingering concern on the virus outbreak and over expectations of another rate cut by the Bangko

can also make the Philippines the manufacturing hub of defense and other industries in the region,” she added. In accomplishing such a plan, Plaza said it is but necessary for the Peza and the AFP to come up with a memorandum of agreement to clear the regulatory powers of the two agencies for the proposed creation of a defense industrial complex. She argued the agreement will make sure the Peza and the AFP understand the implications of putting up a defense economic zone to national security, military posture and strategies once defense related firms start coming in. See “Peza,” A4

REMITTANCES AT RECORD HIGH IN 2019, BUT VIRUS SEEN CURBING FLOWS

HE economy continued to benefit from the cash sent by overseas Filipino workers (OFWs) back home, as it reached an all-time high last year, but experts are increasingly becoming concerned about the impact of the coronavirus disease 2019 (Covid-19) on remittances. T he Bangko Sentral ng Pilipinas (BSP) on Monday reported that the overall cash remittances of OFWs in 2019 rose by an annualized rate of 4.1 percent to a record high $30.1 billion. According to the BSP, this was fueled by higher flows from both land-based and seabased workers, amounting to $23.6 billion and $6.5 billion, respectively. The United States remained the highest remittance sender to the Philippines, accounting

₧78.3B Total bids in Monday’s T-bills auction, which was nearly four times oversubscribed

Sentral ng Pilipinas (BSP) for the second quarter of the year. “I think those are the expectations and we [are also seeing] the ‘flight to safety,’” de Leon said. The 91-day T-bills worth P6 billion on offer were capped at an average auction rate of 3.072 percent, 4.3 basis points down than the previous auction rate of 3.115 percent. Total bids for the security amounted to P21.798 billion. See “COVID-19,” A8

Visitor arrivals in 2019 breach 8.2-M goal–DOT By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

OREIGN tourists in the Philippines reached 8.26 million in 2019, slightly exceeding the Department of Tourism’s (DOT) target of 8.2 million for the year. The year-end figure was also 15.36 percent higher than the 7.16 million arrivals in 2018. In a news statement, Tourism Secretar y Bernadette Romulo Puyat said of the 2019 arrivals: “This heralds a new milestone in the country’s tourism history, breaching the eight-millionth mark. Without doubt, our convergence programs with other government agencies, particularly in improving access to destinations, as well as product development and marketing initiatives with local governments and the private sector, have greatly paid off. We hope to sustain these gains even as we face global challenges.” Related story on A2. The DOT chief’s optimism was tempered by the coronavirus disease 2019 (COVID-19) outbreak, which, she has admitted, will likely impact greatly on the tourism sector’s performance this year, with China being the second-largest market of tourists. Beijing has already clamped down on outbound travels of its citizens. The DOT has targeted visitor arrivals to hit 9.2 million for 2020.

PESO exchange rates n

Continued on A4

Continued on A2

Gas prices up; diesel, kerosene to decline

“We hope to sustain these gains even as we face global challenges.” —Romulo Puyat

Data released by the DOT showed that South Korea continued to dominate the top source market for tourists, with 1.98 million arrivals, up some 22.5 percent from 2018. In second place was mainland China, which grew some 38.6 percent—the largest increase recorded among markets—to 1.74 million arrivals. The United States continued to remain in third place, with arrivals up a mere 2.9 percent to 1.06 million. Following in a far fourth spot was Japan, with arrivals at 682,788—an increase of 8.07 percent. In fifth spot was Taiwan, which rose a substantial 35.01 percent to 327,273 arrivals. It was only in 2019 that the market recovered after previous years of sluggishness owing to the negative perception of the Philippines by Taiwanese travelers. In several public opinion surveys in 2018, the Taiwanese branded the Philippines as the second “most hated country” in the world.

for 37.6 percent of the total last year. Other top sources of remittances were Saudi Arabia, Singapore, Japan, United Arab Emirates, the United Kingdom, Canada, Hong Kong, Germany and Kuwait. “Notwithstanding pockets of political uncertainties across the globe, cash remittances in 2019 remained strong. This is evident in inward remittances from Asia, the Americas and Africa where inflows grew annually by 12.3 percent, 10.6 percent and 4.8 percent, respectively,” the BSP said, adding that the rise in inflows from these regions more than made up for the 9.8-percent decline in remittances from the Middle East. However, an economist said a repeat of this record may prove to be challenging. ING

SAVING ABS-CBN Sen. Grace Poe tells the media on Monday of her Public Services committee’s plan to hold hearings on the ABS-CBN franchise, as lawmakers in both chambers raced to work for its extension beyond March 30. Story on page A8. ROY DOMINGO

Neda: Fast approval of infra projects sustainable By Cai U. Ordinario

@caiordinario

HE National Economic and Development Authority (Neda) said the government will be able to sustain the fast approval of infrastructure projects. In a statement, Neda said

the government has been making “definite progress” when it comes to the processing of infrastructure projects. Socioeconomic Planning Secretary Ernesto M. Pernia, however, gave assurances that the evaluation of these projects is being done through “careful analysis and

thorough review.” Pernia added, “We want to make sure that these processed projects are sound and well-suited for the development of the country, at the national and subnational levels, and are truly responsive to the needs of the people.” See “Neda,” A2

IL companies w il l increase the price of gasoline and reduce diesel and kerosene prices. In separate advisories, the oil firms said a P0.35-per-liter price hike will be implemented on gasoline products. Diesel and kerosene prices, on the other hand, will go down by P0.10 per liter each. The price adjustment of Seaoil Philippines, PetroGazz, Phoenix Petroleum, Total Philippines, Pilipinas Shell and PTT Philippines takes effect at 6 a.m., Tuesday, February 18. Other oil companies are expected to announce soon a similar price adjustment. The price adjustment reflects movements in the world oil market. This is the sixth consecutive week of price rollback for diesel and kerosene. Lenie Lectura Continued on A2

US 50.4900 n japan 0.4596 n UK 65.8390 n HK 6.4999 n CHINA 7.2255 n singapore 36.3107 n australia 33.9293 n EU 54.7514 n SAUDI ARABIA 13.4622

Source: BSP (17 February 2020)

News

BusinessMirror

A2 Tuesday, February 18, 2020

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All set for PHL’s push for domestic tourism ₧3.3T

By Samuel P. Medenilla

@sam_medenilla

HE number of local tourists is expected to spike next month as the government launches its initiatives to “arrest and to cushion” the effects of the slowdown in tourist arrivals from the travel ban in some countries due to the novel coronavirus (Covid-19).

During a press briefing in Malacañang on Monday, Department of Tourism (DOT) said on Monday they have already coordinated with their stakeholders to launch their national campaign to promote local tourism by March, a strategy to recoup billions in losses to the sector’s stakeholders, that

officials announced last week. “Part of this would be a several airline seat sales, packaged promotions whether value added or marked down, and these are all the commitments made by the private sector,” Tourism Undersecretary Arturo Boncato Jr. said. President i a l spokesma n

Salvador S. Panelo said President Duterte’s travel to local tourist sites, which is tentatively scheduled in late February or early March, is also expected to draw more local tourists. Initially, Duterte is scheduled to travel to Boracay, Cebu and Bohol. “He is just like a magnet. His presence attracts people [to attend] an event,” Panelo said.

DepEd activities

Further contributing to the DOT’s projected increase in local tourism traffic next month are the rescheduled activities of the Department of Education (DepEd). Education Secretary Leonor Magtolis Briones said they opted to reset the regional athletic meets which will lead to the Palarong Pambansa to March and April, as well as their National Festival of Talents in the coming weeks. DepEd events usually generate significant economic activity. We foresee this will have a big

told the BusinessMirror in a SMS.

International market

The value of domestic tourism in 2018—significantly higher than the P2.2 trillion from foreign travelers, per Tourism Undersecretary Arturo Boncato Jr.

contribution not only for hotels, but also for food and supply of equipment,” Briones said. Upon the recommendation of the Department of Health, DepEd suspended all of its national and regional activities for this month to reduce the exposure of students and DepEd personnel to Covid-19. Boncato said they anticipate these aforementioned initiatives to boost domestic tourism will take effect by next month. “We expect market response by March given our activation,” Boncato

PHAP to DOH: Revisit medicine price-cap EO

HILE supportive of the Executive Order (EO) imposing Maximum Retail Price on Medicines, the Pharmaceutical and Healthcare Association of the Philippines (PHAP) on Monday called on the government to consider also its impact on the pharmaceutical industry and the general public. “If reasonable profits are not realized, pharmaceutical companies would review the sustainability of [their] operations in the Philippines, including the possible downsizing in the number of employees. The Philippines would also lose its attractiveness to investments. The billions of taxes they pay would also be lost,” PHAP, who has yet to receive an official copy of the EO, said in a statement.

Based on its earlier proposal, the Department of Health (DOH) would cap prices at the manufacturers’ level but increase the margins of retailers, which would actually result in higher prices, a contradiction, as PHAP noted, between the objective and the implementation. PHAP argued that they have been consistent in opposing price control since global experience had shown that artificial measures result in market inefficiencies and lack of supply. Equally important is that innovative drugs, or new medicines and vaccines produced from years of expensive research to address current or emerging health threats, would likely not be introduced in the Philippines, said the industry group. Instead of price control, PHAP

Neda. . .

Continued from A1

The processing of projects undergoes these phases: the preparation of a Project Feasibility Study, Review and Analysis of the FS by the Implementing Agency (IA) and the Evaluation of Projects by the Investment Coordination Committee Technical Board (ICC-TB). Once the project has cleared the ICC-TB, it will go through the Review and Approval of the Investment Coordination Committee Cabinet Committee (ICC-Cabcom) before the final approval of the Neda Board. Both ICC-TB and ICC-Cabcom are Neda Board interagency committees, the former made up of undersecretaries, the latter of secretaries. In January, the BusinessMirror reported the Neda Board has approved less than half of its intended infrastructure spending in the medium term. Pernia told this newspaper that the government will “rally” in the last few years of the Duterte administration. The worth of Neda Board approvals between 2016 and 2019, including those approved in the last Neda Board meeting in November 29, reached only P2.679 trillion. This is less than half the P7.74 trillion the administration intended to spend for infrastructure between 2016 and 2022 under the Public Investment Program (PIP) for 2017 to 2022. Spending over P7 trillion for infrastructure in the medium term will not only help address the country’s infrastructure constraints but will usher in a “Golden Age of Infrastructure,” officials had said.

IC. . .

Continued from A8

As a result of the capital infusion, SGI Philippines’s net worth surged from P710 million to P1.35 billion, thereby making it compliant not only with the net worth requirement for the year 2019 but also up to the year 2022. “The move on the part of SGI

earlier proposed a straight price reduction of 150 medicines and also offered a system where medicines will not be left expired and wasted in DOH warehouses. The group added that they share the objective of lowering medicine prices but appealed to the government to consider bulk procurement and price negotiation as the more sustainable and beneficial approach. In December, PHAP proposed to voluntarily reduce prices of select drugs and medicines through their proposed “Mas Murang Gamot Program.” The PHAP’s proposal: drug companies and manufacturers will voluntarily reduce drug prices by as much as 75 percent for 155 medicines across 36 disease categories, both for the public and private sectors.

“We appreciate the gesture [of PHAP] and we have been continuously evaluating the proposal, taking into account the intended goal of the Maximum Drug Retail Price [MDRP], which is to improve access to affordable medicines for all Filipinos,” Health Secretary Francisco T. Duque III said. “However we must take some things into consideration. First of all, given its voluntary nature, PHAP cannot guarantee price reduction at points of sale, such as drugstores, drug retailers, and private hospitals, which comprise at least 90 percent of the total pharmaceutical market. We know that the drug prices in these markets are significantly higher compared with government prices,” Duque added. Claudeth Mocon-Ciriaco

Remittances at record high in 2019, but virus seen curbing flows Continued from A1

Bank Economist Nicholas Antonio Mapa said the outbreak of Covid-19 will test the resilience of OFW remittances this year. “In the past, OFW remittance flows had managed to defy skeptics, posting strong growth even in times of global recession or geopolitical events that caused substantial upheaval of Filipinos in their host countries. OFWs are deployed across the globe in several jurisdictions and in several diversified services professions, making them more able to sidestep economic downturns,” said Mapa. “However, Covid-19 poses a new and real threat to this stable source of foreign exchange flows and peso purchasing power given the reach and nature of the [virus],” he added.

Deployment, work affected

The economist noted that the virus has spread across the globe and will likely affect both deployment and actual work of Filipinos based abroad. “Covid -19 also forces people to go into quarantine or affects consumption patterns which could have an adverse impact on the services industry, where most OFWs are employed in,” he added. Mapa said the recent plight of the cruise

Philippines to comply with the last tranche of capital increase under the Amended Insurance Code is commendable as such action gives us the confidence that SGI Philippines has a solid source of capital to deliver its promises to the insuring public,” Funa said in a statement. Under Republic Act 10607 or the Amended Insurance Code, existing insurance companies are required

ships around the world will likely put pressure on cruise liners and the hospitality industry as a whole, making it difficult for Filipinos to send home remittances should their salaries be curtailed or they lose their jobs altogether. OFW remittance flows are known to boost the country’s purchasing power and fund household consumption. It also provides a steady dollar stream to cover for the trade gap and supplement current account shortfalls. “Filipinos have found a way to send home remittances throughout the global financial crisis and despite every economic downturn experienced around the globe,” he said. “[This year] and Covid-19 pose a new challenging landscape for these flows to continue but given the altruistic nature of these flows, we expect remittances to manage to post modest growth from its average 3-percent to 4-percent growth clip per year,” he added. However, the economist noted that a “less vigorous” pace of remittance flows amid a projected widening trade deficit could translate to renewed pressure on the peso in the near term. Data from the Bankers Association of the Philippines (BAP) showed the local currency ended trade on Monday at 50.57 to a dollar, sideways from the previous day’s 50.56.

to have a net worth of at least P550 million by December 2016, P900 million by December 2019 and at least P1.3 billion by December 2022. The IC previously required insurance companies to submit their respective capital build-up plan and five-year financial projection in relation to the increase in the minimum net worth from P550 million to P900 million. “We required the companies

to submit their respective capital build-up plan for us to see an overview of their respective course of action in order to comply with the law-mandated net worth increase and for us to evaluate their capability to comply with the net worth requirement,” Funa said. Meanwhile, IC also has already approved the license to operate of Singapore Life, a technology-based online insurance company start-up.

Despite their focus on local markets, Boncato said they are still not ruling out the contribution of foreign tourists to the country’s tourist receipts this year. He said they launched a “tactical promotion,” to “short haul” countries, which have the potential to offset the lower tourism contribution of China, namely, South Korea, Japan, members of the Association of Southeast Asian Nation (Asean), Taiwan as well as homecoming Filipinos from the United States and Western Europe. Boncato said their tactical promotion involves highlighting the country as the No. 1 summer destination, as well as one of the best dive and retail destinations. He said DOT still maintains its 9.2-million target tourist arrival for 2020. Foreign Affairs Assistant Sec-

retary Eduardo Meñez said no country has imposed a travel ban on the Philippines due to its three incidents of Covid-19.

Travel ban impact

Boncato said the stronger local tourism will help reduce the negative impact of the country’s travel ban for China, which is expected to cost the country P14.8 million worth of tourist receipts for February alone. He said this is supported by their 2018 tourist receipts: the value of domestic tourism in 2018, at P3.3 trillion, was significantly higher than the P2.2 trillion from foreign travelers. “The value of domestic tourism is really high. A slight spike in domestic tourism like what Secretary Briones said if the events of DepEd will proceed—will ensure one part of the economy will not be affected [by the slowdown in international arrivals],” Boncato explained.

Race is on to extend ABS-CBN franchise Continued from A8

Corp. and its subsidiary, ABS-CBN Convergence, for alleged violations of the terms and conditions of its franchise. The resolution also cited Senate Resolution 322, filed by Poe, seeking to inquire, in aid of legislation, into the operations of ABS-CBN Broadcasting Corp. to determine compliance with the terms and conditions of its franchise. Drilon, a former Secretary of Justice, affirmed “it is the Congress, not the Supreme Court, that has jurisdiction to review compliance by ABS-CBN of the terms of the franchise granted by Congress, especially that there are pending bills seeking to renew its franchise.” However, Senate President Vicente Sotto III clarified that while Poe can conduct Public Services Committee hearings on the ABSCBN franchise there’s need to tread with caution to avoid concerns aired by Senator Panfilo Lacson over the “sub judice issue.” Sotto added, “The Committee can proceed to hold a hearing, that is allowed. But the issue that Senator Lacson is apprehensive about, the issue on sub judice, because of the quo warranto, might not be a problem as long as it’s in aid of legislation.” The Senate leader noted, however, that “if Senator Poe wants to hold a hearing on her Resolution to look into the allegations against ABS-CBN, it is part of the mandate of her committee, that is okay. It does not have anything to do with the franchise, approval or disapproval.” For her part, Poe said she has yet to hear from the Senate leadership if a caucus would be called to discuss the matter. “Wala namang sinasabi ang liderato ng Senado na kailangang magpulong. Meron ibang caucus pero hindi tungkol sa committee ko [The Senate leadership has not mentioned the need to hold a caucus. There is a scheduled caucus but it is not related to my committee],” Poe said in a separate interview, adding that in her view, her colleagues would respect the prerogative of the committee chair.

NTC-Arta. . . Continued from A8

“With the issues arising from the case, the NTC has elevated the matter to the Department of Justice for arbitration in accordance with Presidential Decree 242 and the Revised Administrative Code

‘Illusory remedy’

Albay Rep. Edcel Lagman on Monday said the National Telecommunications Commission (NTC) cannot “resurrect” an expired legislative franchise by granting media giant ABS-CBN a “provisional authority to operate.” In an interview, Lagman said congressional leaders are vainly pushing a “dubious empty bag” to ABS-CBN. “Only holders of a valid, existing and/or renewed franchise can apply with the NTC for a certificate of public convenience and necessity [CPCN],” said Lagman. “Instead of giving ABS-CBN an illusory remedy, the House of Representatives must expedite the renewal of ABS-CBN’s franchise which has long been pending in the House committee on legislative franchises,” he added. Earlier, House leaders said ABSCBN may continue to operate until 2022 while bills extending its franchise are pending. “The opinion that a franchisee can continue its operations as long as it has a pending application for renewal and the current Congress has not adjourned sine die is based on an alleged practice which can be challenged in court because it is not validated by jurisprudence, said Lagman. According to Lagman, Section 16 of RA 7925 or the “Public Telecommunications Policy Act of the Philippines” unequivocally provides that “no person shall commence or conduct the business of being a public telecommunications entity without first obtaining a franchise.” Lagman also said the law further provides that “a CPCN expiring at the same time as a franchise shall be deemed to have been renewed for the same term if the franchise itself is also renewed or extended.” “An existing, valid and/or renewed franchise is a condition precedent for the grantee to secure from the NTC the necessary permits and licenses,” he said. Last Friday, House Speaker Alan Peter Cayetano said the renewal of ABS-CBN franchise must be discussed “soberly and very reasonably” by lawmakers, “possibly” in May. regarding controversies among government agencies,” the NTC statement read. Newsnet is seeking the use of the 25.35 gigahertz to 26.35 GHz frequency range to operate a local multipoint distribution system (LMDS) to provide interactive pay television and multimedia services in South Luzon, North Luzon, Visayas and Mindanao.

www.businessmirror.com.ph

The Nation BusinessMirror

Editor: Vittorio V. Vitug • Tuesday, February 18, 2020 A3

PNP unit rescues four kidnapped Malaysians By Rene Acosta @reneacostaBM

OLICE anti-kidnapping operatives rescued over the weekend four kidnapped Malaysians and arrested 19 suspects, most of them Chinese and an Indonesian. The victims, whose identities were withheld by Philippine National Police chief Gen. Archie Gamboa, were rescued by members of the PNP Anti-

Kidnapping Group during operations in San Pedro, Laguna. Gamboa said the Malaysians are working in Philippine Offshore Gaming Operators (POGOs). During the operations, the policemen arrested 16 Chinese, two Filipinos and an Indonesian that they have tagged as suspects. “I extend the congratulations of the national leadership to the PNP Anti-Kidnapping Group for a string

of major operational accomplishment over the weekend that resulted to the rescue of four kidnapped Malaysian POGO workers in San Pedro, Laguna, and the arrest of 19 suspects, 16 of whom were Chinese, two Filipinos and one Indonesian,” Gamboa said during a news briefing on Monday. Meanwhile, the PNP chief said his office is adjudicating the cases of 357 policemen who were includ-

ed in the government’s drug watch list and whom he had reassigned to his office. “We need to act fast and act now on the adjudication of 357 PNP personnel whom I have ordered [to be] reassigned to my office to ensure their availability to face further investigation, because I do not want to end my term as chief PNP in September without having adjudicating with finality the status of personnel in the

drugs watch list,” he said. While the policemen have been offered to avail their early retirement, Gamboa said this would not expunge them from any criminal liability once the investigation indicate their involvement into the illegal drugs. Gamboa did not identify the policemen, although one of them had earlier been identified as relieved Bacolod City Police chief Lt. Col. Jovie Espenido, who had led a string of

anti-illegal drug operations against the so-called untouchables in areas where he was formerly assigned. “I would like to emphasize that all 357 personnel concerned are presumed innocent until the requirements of due process are completely satisfied. I beg your kind indulgence that the PNP needs to keep the identities of these personnel confidential, incidental to their presumption of innocence,” the PNP chief said.

Morente orders probe into existence THREE REBELS DIE, 5 YIELD IN MILITARY OFFENSIVE of ‘pastillas’ syndicate within BI G By Joel R. San Juan @jrsanjuan1573

HE Bureau of Immigration (BI) on Monday said it would conduct a probe into the claim of Sen. Risa Hontiveros that some corrupt immigration officials received P10,000 service fee to facilitate the easy entry of Chinese nationals to the country. BI spokesman Dana K rizia Sandoval said the agency would immediately coordinate with the Department of Justice and the office of Hontiveros with the purpose of launching an investigation on the issue. “Commissioner [Jaime] Morente is deeply alarmed at the ex-

posés of the good Sen. Risa Hontiveros during today’s [Monday] Senate hearing. He has ordered a full-blown investigation to identify those who are possibly part of this syndicate to file both administrative criminal cases against them,” Sandoval said. The Senate is currently looking into crimes connected to Philippine Offshore Gaming Operators. During the hearing on Monday, the senator showed a video of an immigration officer escorting Chinese nationals to BI’s inner office, seemingly validating the Chinese nationals’ identity against a list with a supervisor. The senator also exposed photos from the whistle-blower of the

cash distributions, called pastillas, a milk-based candy delicacy in the country. It is called pastillas modus because the grease money is rolled in bond papers, like with the milk candy. Justice spokesman Undersecretary Markk Perete said the justice department would closely monitor the investigation that the BI will be conducting following Hontiveros’s disclosure. “We understand that the Office of the Commissioner of Immigration will initiate its own investigation on the matter. The department will closely monitor and supervise this investigation to ensure that those responsible will be held to account,” Perete said.

OVERNMENT troops killed three suspected members of the New People’s Army (NPA) during a firefight in Isabela on Sunday, while five other rebels yielded to security forces in Aurora and Nueva Ecija. Elements of the Army’s 95th Infantry Battalion clashed with rebels in Barangay Rang-ayan, Ilagan City, Isabela, according to Maj. Noriel Tayaban, spokesman of the Fifth Infantry Division. Tayaban said the soldiers responded to information about the presence of rebels from the joint Central Front and Regional Sentro DeGrabidad (RSDG) of the Komiteng Rehiyong-Cagayan Valley (KR-CV) in the village. During the firefight, three NPA members, two of them identified as alias Bobby and Prince, were killed.

The two are squad and team leaders of the rebel group. Three rebels also surrendered to the soldiers who recovered an M16 rifle, three .45 caliber pistols and ammunition. In Aurora, a rebel identified as Danilo Aramelia, 45, surrendered to members of the Dipaculao Police Station and the 91st Infantry Battalion, and availed himself of the government’s reintegration program for the NPA. Aramelia turned over a loaded .38 caliber revolver. In Nueva Ecija, a rebel identified through his alias as Japh also yielded to members of the 84th Infantry Battalion at Barangay Villarica in the town of Pantabangan. The former rebel turned over an M16 rifle with defaced serial number, a short magazine for M16 and

₧13.43B allotted to fund completion of 4,810 classrooms nationwide By Claudeth Mocon-Ciriaco Correspondent

VER 4,000 classrooms nationwide will soon be completed to address the country’s classroom shortage. The Department of Education (DepEd) has allocated a total of P13.43 billion in the 2019 General Appropriations Act (GAA) for the construction of additional school building facilities with 4,810 classrooms in time for School Year 2020-2021. As of the moment, the Department of Public Works and Highways (DPWH) have completed and turned over 368 classrooms to DepEd. Public Works Secretary Mark A. Villar said that the DepEd school building projects are part of the DPWH’s convergence program with other national government agencies. “DPWH Regional and District Engineering Offices nationwide are also pushing to complete 4,414 classrooms that are now under civil works, and 28 more that will start construction soon. Hopefully, these will be turned over in time for the coming 2020-2021 school year,” Villar said. The 2019 BEFF (Basic Educational Facilities Fund) covers the construction of additional 616 classrooms for the National Capital Region amount-

ing to P1.95 billion; 66 classrooms for Cordillera Administrative Region costing P185.09 million; 534 classrooms for Region 1 costing P1.34 billion; 87 classrooms for Region 2 costing P189.84 million; 933 classrooms for Region 3 costing P2.56 billion; 807 classrooms for Region 4A costing P2.14 billion; 44 classrooms for Region 4B costing P153.94 million; 393 classrooms for Region 5 costing P1.35 billion; 198 classrooms for Region 6 costing P478.62 million; 278 classrooms for Region 7 costing P766.96 million; 191 classrooms for Region 8 costing P472.98 million; 123 classrooms for Region 9 costing P303.17 million; 164 classrooms for Region 10 costing P500.95 million; 159 classrooms for Region 11, costing P488.08 million; 96 classrooms for Region 12 costing P241.66 million; and 12 classrooms for Region 13 costing P303.69 million. Last month, DepEd was saddened by the decrease in funding for basic education inputs program, particularly for the new construction of school buildings. In a news statement, the education department said that the decrease in the budget is a “huge challenge” for it will “adversely affect the programming of a lower classroom to students ratio for the coming school years.”

live ammunition. Col. A ndrew Costelo, commander of the 703rd Brigade which has operational control over the 91st Infantry Battalion and 84th Infantry Battalion, said Japh is a trusted courier of the late Eleuterio S. Agmaliw, the former commanding officer of Komiteng Larangang Guerilla Sierra Madre of the NPA in Central Luzon. Agmaliw died during a recent combined operation by the police and soldiers at a rebel safehouse in Queensland Subdivision, Damong Maliit, Novaliches, Quezon City. Maj. Gen. Lenard T. Agustin, commander of the Seventh Infantry Division, commended the soldiers over the continued surrender of rebels in their areas of operation. Rene Acosta

DPWH completes flood-control projects in Isabela in time for coming wet season By Lorenz S. Marasigan @lorenzmarasigan

FISH BE WITH YOU

Life slowly returns to its normal pace for residents in communities around the Taal Lake as Taal Volcano’s eruption continue to wane. Two fish anglers relish the calm by casting their hooks and lines into the lake, hoping to catch a fish or two for dinner. BERNARD TESTA

HE Department of Public Works and Highways (DPWH) has completed two flood-control projects in Isabela province just in time to prepare the area for the rainy season by the middle part of the year. Public Works Director Loreta M. Malaluan listed the two projects as the P21.55-million Batal Flood Control Project in Barangay Batal, Santiago City, and the P41.23-million Dumawing Flood Control Project in the municipality of Jones. The project in Batal involves the construction of a 151-meter floodcontrol facility, while the project in Dumawing covers the building of 359 meter of revetment wall on steel sheet pile foundation and box culvert end protection. “Both flood-control projects in Batal will minimize overflowing of river and flooding-related effect to lives, and properties, during rainy and typhoon season,” Malaluan said.

DAR flaunts zero backlog on agrarian cases despite ‘poor’ land-distribution record By Jonathan L. Mayuga @jonlmayuga

ESPITE its poor land-distribution record, the Duterte administration had accomplished something past administrations have failed to do—wipe out all pending agrarian cases in its hands. For Agrarian Reform Secretary John R. Castriciones, such a historic first for the agency tasked to implement the Comprehensive Agrarian Reform Program (CARP), is something to be proud of. “We resolved the pending cases as expeditiously as possible while ensuring that decisions are fully supported by the evidence on record, the law and the applicable jurisprudence,” Castriciones said. The Department of Agrarian Reform (DAR) launched in Janu-

ary 2019 a zero-backlog program. This is in compliance with President Duterte’s instruction to resolve all cases, and deliver legal assistance in a fair and speedy manner. The zero-backlog program covers the two prongs of the agency’s Agrarian Legal Services: 1) the agrarian legal assistance of the Bureau of Agrarian Legal Assistance (BALA) which handles the resolution of agrarian cases, representation of beneficiaries before judicial and quasi-judicial bodies, and mediation and consultation and 2) the adjudication of agrarian cases of the DAR Adjudication Board (Darab) which handles regular cases (ejectment, declaration of tenancy status, termination of leasehold relation, etc.) and determination of land valuation. The zero-backlog program aimed to achieve a 100-percent accomplish-

ment rate in the resolution of the beginning balance of cases in 2019, or the resolution of all cases from 2018 and the preceding years. At the same time, the DAR remained diligent in settling new cases filed last year. The Darab Central Office resolved in 2019 all 1,445 cases of its backlog through six fast-tracking activities completed in 406 hours by four ponentes and 176 technical personnel. Its field offices across 15 regions also accomplished all 4,041 backlog cases. Central Luzon region leads in this number with 1,207 cases. In the same period, 853 new cases were filed in the Darab Central Office from January to November 2019. 100 percent, or all 853, of these cases have also been resolved. For its field offices, 20,674 new cases or 94 percent were resolved last

year from a total of 22,081. Undecided cases at the present are now less than a year old. Meanwhile, BALA has resolved 120 conversion cases, or 100 percent of its backlog, from 2018 and its preceding years, and new cases filed in 2019. A 100-percent achievement was also recorded for agrarian law implementation after the resolution of all 979 backlogged and new 2019 cases. Lastly, cancellation cases which reached a total of 7,812 have all been resolved. Zero-backlog compliance for cancellation cases was also recorded across all regions. After this notable feat, the DAR commits to two new objectives: a 100-percent completion of land acquisition and distribution, and a 100

percent delivery of support services to its beneficiaries. The DAR chief and other officials signed a pledge for these causes. Under the Duterte administration, DAR, the lead implementing agency of the CARP, failed a lot of expectations. In fact, according to Task Force Mapalad, the Duterte administration’s three-year LAD or land acquisition and distribution performance was just 8 percent of the accomplishment of the Ramos administration in its first three years in office. From 1992 to 1994, the DAR, under President Fidel Ramos’s watch, recorded the highest LADS accomplishment, distributing a total of 1,113,019 hectares of land to CARP beneficiaries, or an average of 371,006 hectares yearly. The administration with the

second-highest LAD accomplishment was that of late former President Corazon Aquino. In its first three years of implementing Republic Act 6657, or the Comprehensive Agrarian Reform Law of 1988, her administration was able to distribute a total of 452,074 hectares from 1988 to 1990, or 150,691 hectares annually. Third was the Estrada administration that distributed to CARP beneficiaries a total of 379,905 hectares from 1998 to 2000, or 126,635 hectares yearly. It was followed by the second Aquino administration with LAD accomplishment of 320,916 hectares from 2010 to 2012, or 106,972 hectares annually; and by the Arroyo administration that distributed 313,778 hectares from 2001 to 2003, or 104,593 hectares yearly.

Agriculture/Commodities

A4 Tuesday, February 18, 2020 • Editor: Jennifer A. Ng

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Study: Coco oil may prevent spread of viruses

By VG Cabuag

@villygc

Sarangani’s ASF checkpoints to do COVID-19 monitoring, too

unit of publicly listed D and L Industries Inc. on Monday said it had developed a coconut oil product that could prevent spread of certain viruses, and possibly the coronavirus disease 2019 (COVID-19).

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

Coconut oil experts Dr. Mary Newport of Spring Hill Neonatology and Dr. Fabian Dayrit of Ateneo de Manila University released a report on the potential of coconut oil in fighting viruses. In their study, they found that lauric acid (C12) and its derivative, monolaurin, have antiviral activities, including the dissolution the cell membrane of the virus, inhibition of virus maturation and prevents it from spreading, and prevents the virus from replicating. Lauric acid, also found in the regular coconut oil that are used for frying, and monolaurin are known to have antibacterial, antiviral and antipathogenic properties. The antiviral properties of lauric acid, with its derivative monolaurin, have been recognized for many years. As the lauric acid is ingested by the body, it turns it into monolaurin. Capric acid (C10), which also

comes from coconut oil, has also shown promising activity against other viruses. According to the study, at least two fatty acids have antiviral properties, the C10 and C12. “Both C10 and C12 are present in Laurin MCT, a patented formula that contains a 60 percent blend of capric and lauric acids. These valuable fatty acids give your immune system a broader spectrum of protection against bacteria and viruses,” said Dean Lao Jr., Chemrez Technologies Inc. managing director. Laurin MCT is made locally and developed by Chemrez. “The proper way to take it is to start with one teaspoon a day and gradually increasing intake to one to three tablespoons a day,” he said. The Department of Agriculture (DA) has been encouraging valueadding and processing in the coconut sector as a way of boosting farmers’ income. Agriculture Secretary Wil-

D Photo from the Philippine Coconut Authority

liam D. Dar said developing more products for the local and global markets will increase the earnings of farmers. Dar also called for a “one whole nation approach” in building up the local industry. The DA chief issued the statement during the opening program of Coconut Bazaar 2020 held recently at the Philippine Coconut Authority (PCA) office in Quezon City.

Dar said the one whole nation approach is one of the measures he presented to the President and members of the Cabinet. The initiatives, he said, should be adopted for both raw and value-added products. He said these measures will help boost farmers’ income, which had declined in recent years due to the drop in copra prices. Citing data from the Philippine Statistics Authority

(PSA), the DA noted that coconut production was slightly higher last year, but the value of farmers’ output fell by more than a fifth. PSA data showed that coconut production rose by 0.4 percent to 14.77 million metric tons. As copra prices were lower, their output in 2019 was valued at P72.07 billion, 21 percent lower than the P91.77 billion recorded in 2018. With a report from Jovee Marie N. Dela Cruz

Visitor arrivals in 2019 breach 8.2-M goal–DOT continued from A1

The strong growth of the Taiwan market is expected to continue this year after the DOT and stakeholders groups led by the Tourism Congress of the Philippines, successfully appealed to have the travel ban on Taiwan lifted last Friday. The Civil Aeronautics Board ordered on February 10 the inclusion of Taiwan in the travel ban which then already included mainland China, Hong Kong and Macau, owing to the government’s “One-China policy.” The DOT has estimated that losses from the greater China market would reach P38.2 billion from February to April 2020. Meanwhile, arrivals from Singapore and Malaysia continued to slump, even as the Tourism Promotions Board (TPB), the marketing arm of the DOT, was supposed to have increased its promotions of the Philippines in those markets. Arrivals from Singapore fell some 7.7 percent to 158,595, while those from Malaysia slipped by 3.7 percent to 139,882 last year. In an interview with former TPB Chief Operating Officer Venus Marie Tan, she explained tourists from these markets were always on the lookout for new things to do in a destination. As such, she said the TPB was ramping up its product offerings to these markets with the help of the private sector. (See, “TPB steps up

Peza. . .

continued from A1

The Peza chief said the agency is working double time in turning economic zone workers into military reservists. The Peza, at present, is implementing a special basic citizens military training for economic zone workers, which they can use in times of man-made and natural disasters. “Peza’s unique structure with 404 operating economic zones and 4,478 locator companies, once trained, will provide 1.5 million directly, and 7 million indirectly em-

promotions in HK, Malaysia due to tepid arrivals,” in the BusinessMirror, July 26, 2019.) Other top tourist markets for the Philippines last year were: Australia with 286,170 arrivals (up 2.3 percent); Canada at 238,850 (+5.5 percent); the United Kingdom at 209,206 (+4.06 percent); India at 134,963 (+11.43 percent) and Germany at 103,756 (+12.66 percent). The DOT said almost all months in 2019, except January, registered double-digit increases in arrivals, the largest of which was in August at 27.54 percent, while December recorded the highest volume of tourists at 776,798. The Christmas holidays are usually an incentive for Filipinos residing abroad to come to the Philippines in December to spend time with their families. Philippine passport holders residing abroad, but not overseas workers, were recorded at 13,741 in December 2019 alone, up 12.07 percent from December 2018. Arrivals from the US, where most balikbayan (homecoming Filipinos) come from, was recorded at 109,488 last December. The market accounted for a 14-percent share of total arrivals in December 2019. The tourism sector was given a shot in the arm last year with the launch and initial rollout of DOT’s renewed “It’s More Fun in the Philippines” brand campaign. ployed reservist manpower,” Plaza said, noting that this is “more than enough for the 80 percent component of the AFP.” Plaza is proposing to President Duterte the issuance of an administrative order institutionalizing the participation of all government agencies, departments, bureaus, government-owned and -controlled corporations, and economic zone authorities to become AFP reservist units. This will also entail the creation of a fund for the education, training, uniforms and equipage of the reservists. “Everything included in the proposed AO are already existing; we just need to enhance it,” Plaza said.

AVAO CI T Y— A fr ican swine fever (ASF) checkpoints in Sarangani province will also serve as monitoring posts for the coronavirus disease 2019 (COVID-19) as a precautionary measure to prevent the spread of the virus. Sarangani Gov. Steve Chiongbian Solon issued the directive last week as other local governments began canceling their scheduled events over the threat of COVID-19. Solon has also directed capitol employees to wear face masks if they have a cough and to go on leave if they have fever. Dr. Alvin Alejandro, provincial health officer, has asked travelers to cooperate if they would be asked about their travel histories and to also present their identification cards and passports. Alejandro said these initiatives may avert the possible spread of COVID-19 “considering some loopholes are present where pwedeng makalusot ang mga balikbayans or foreign national [returning migrant workers or foreign nationals may slip through quarantine].” He said the City Health Office in General Santos City should, likewise, strengthen their borders or checkpoints saying the city was the entry points to the towns in Sarangani province. The province has tapped the 1,039 Barangay Health Workers (BHWs) for monitoring of the COVID-19 at the barangay level. He said the deployment of BHWs was the province’s strategy to implement memorandum circular of the Department of the Interior and Local Government on addressing COVID-19. DILG Memorandum Circular 2020-023 “enjoins all government units [LGUs] to effectively intensify the information, education, and communication [IEC] campaign on the nCoV ARD and implement programs, projects and services that will promote the general welfare, public health, and general well-being of every Filipino.” Alejandro said the circular necessitated the “self-quarantine” of all those who are coming from countries with confirmed cases. Other local governments, such as Panabo City, had canceled events as a precautionary measure agains the virus. Panabo Mayor Jose E. Relampagos said he is canceling the Araw ng Panabo events on March 1 to 31, his State of the City Address on March 16, and the PBA Game (San Miguel Beermen vs Meralco Bolts) on March 28. “Although there are no confirmed cases in our region as of today, I am determined to implement precautionary measures in the city of Panabo and follow DOH [Department of Health] and DILG guidelines against the disease,” said Relampagos. “Therefore, I strongly encourage you to practice self-protection measures and avoid attending crowded places/events and other mass gatherings anywhere. All similar events organized by the barangay and city governments are ordered to halt until further notice. Private organizers are, likewise, strongly advised to suspend similar events in the city of Panabo,” he added.

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House panel approves 6 measures declaring 13 sites as protected areas By Jovee Marie N. Dela Cruz @joveemarie

HE House Committee on Natural Resources has approved six bills declaring 13 sites in eight provinces as protected areas that are closed to commercial and large-scale exploitation. Rep. Elpidio Barzaga Jr. of Dasmariñas City in Cavite, committee chairman, said the 13 sites would be added to a long list of watersheds, hills, mountains, parks, forest lands, and natural landscapes declared protected under Republic Act 11038, or the Expanded National Integrated Protected Areas System (Enipas) Act of 2018. According to Barzaga, the new protected sites cover a combined area of 332,456 hectares. The lawmaker said most of these areas have been subjected to commercial use for decades, and are now overexploited. “We have to protect, regrow and preserve them for the benefit, enjoyment and appreciation of future generations of Filipinos. For instance, watersheds, hills and mountains are among our primary sources of water,” he said in a news statement. The new areas proposed to be added to the Enipas list include Mount Arayat in the town of Arayat in Pampanga. For his part, Deputy Speaker and Rep. Aurelio Gonzales Jr. of Pam-

panga’s third district, which covers Arayat, said the mountain “is currently facing environmental challenges, like illegal logging.” “If no action is taken, it is only a matter of time before Mount Arayat degrades into an unrecoverable husk of landmass devoid of life. It could also become a natural hazard to people living within its periphery,” he said. The 12 other additional protected areas are nine watersheds in Occidental Mindoro and Oriental Mindoro; a group of small islands in the town of Carles in Iloilo; the Tugbo watershed in the City of Masbate and the town of Mobo in Masbate; the Hinakpan Mystical Hills in Guihulngan, Negros Oriental; and the Tirad Pass landscape in Gregorio del Pilar, Quirino and the towns of Sigay, Cervantes and Suyo in Ilocos Sur. The six bills have common provisions. If declared as protected areas, these specific areas will be placed under the supervision of the Department of Environment and Natural Resources (DENR). A protected area management office headed by a protected area superintendent would be created to see to it that the sites would no longer subjected to destructive human practices. Under the measures, funding for the management and protection of these areas would be included in the annual DENR budget.

Editor: Vittorio V. Vitug • Tuesday, February 18, 2020 A5

NEA to Luzon, Visayas power co-ops: Prepare summer contingency plans

By Lenie Lectura

@llectura

HE National Electrification Administration (NEA) has called on all electric cooperatives (ECs) in Luzon and Visayas to prepare their respective contingency plans to mitigate the impact of power-supply deficiency during summer months.

The agency said ECs must implement demand-side management programs and maximizing embedded power plants to reduce, if not eliminate, rotating brownouts during peak hours. Embedded power plants are those that are not directly connected to the power grid, but still supply power to a specific area. In Luzon, five ECs—Ilocos Norte Electric Cooperative Inc., Isabela I Electric Cooperative Inc., Isabela II Electric Cooperative, Zambales II Electric Cooperative Inc. and Sorsogon II Electric Cooperative Inc.—have embedded power plants with a combined capacity of 11.696 megawatts (MW). In Visayas, three power distribu-

tion utilities—Cebu I Electric Cooperative Inc., Bohol I Electric Cooperative Inc. and Southern Leyte Electric Cooperative Inc.—have embedded mini-hydro power plants with a total capacity of 10.42 MW. “We have already advised ECs that do not have embedded power plants to initiate demand-side management programs, wherein the ECs will work with big electricity consumers in order for them to reduce their usage when demand is high or when an alert level is issued,” said NEA. NEA has also recommended that ECs implement load curtailment or load shedding in their respective coverage areas when necessary. Affected ECs are also directed to encourage large establishments

with standby generating capacities to participate in the interruptible load program. Under this program, big consumers will be asked to run their embedded standby generating sets during peak hours instead of obtaining their supply from power distribution utilities. Earlier, the Department of Energy (DOE) raised concerns about the tight supply of electricity, and that the public is warned of yellow and red alerts starting April. DOE estimates that red alerts may be issued from April 18 to 21 and May 20 to 22, and that an additional capacity of 256 MW to 821 MW is needed in Luzon power grid to avoid the yellow or red alert in the region. A yellow alert is issued when power supplies are low but may not

lead to power outages, while a red alert is issued when the power supply in power grids is insufficient, and may result in rotational brownouts or manual load dropping in areas covered by particular grids. “Conserving electricity is the responsibility of every consumer, and should be done all throughout the year—but this is even more important every summer, when power consumption peaks due to the heavy use of air conditioners and similar appliances during these warmer months. We encourage the public to do their part to help reduce electricity consumption, especially during peak hours, by turning off unused lights, unplugging idle devices, setting air conditioners at a reasonably comfortable temperatures and using energyefficient appliances,” said NEA.

Conserving electricity is the responsibility of every consumer, and should be done all throughout the year—but this is even more important every summer, when power consumption peaks due to the heavy use of air conditioners and similar appliances during these warmer months. We encourage the public to do their part to help reduce electricity consumption, especially during peak hours, by turning off unused lights, unplugging idle devices, setting air conditioners at a reasonably comfortable temperatures and using energy-efficient appliances.”—NEA

to conduct review of BOC’s National The power of data–where do TWG Value Verification System implementation we find the data scientists? T

By Henry J. Schumacher

AST week, I highlighted the need to unlock the power of data; not surprisingly, readers responded, and addressed, the significant rise in demand for data specialists and the resulting talent crunch.

As the talent crunch is intensifying, it is essential to equip our people with the necessary digital skills for tomorrow, enabling them to design impactful, innovative solutions to manage our data inventory and data analytics, risk assessments, consumer rights requests, privacy notices, sale of data, consent, incident response and more. As compliance is such a strategic issue, it deserves top management’s utmost, and undivided, attention and willingness to make resources, like automation tools, available. It was interesting to read the report of the Philippine Institute for Development Studies which outlined that the Philippines badly needs data analysts. PIDS added that the Philippines labor force still lacks employees with data science and analytics (DSA) skills. The findings show an undersupply of functional analysts and data stewards. What kind of skilled people are needed? 1.) Data engineers design, construct, test and maintain data infrastructure, while data scientists use statistical techniques to create models needed to obtain

new quantitative and qualitative data. 2.) Functional analysts, meanwhile, use data and leverage insights to help institutions to make better decisions. 3.) Data stewards develop, enforce and maintain an institution’s data governance process, with the aim of ensuring that the data used is of high quality. Studies show employers are looking mostly for functional analysts comprising 66 percent of the DSA demand. It is strongly suggested that industry players encourage their own employees to be trained, and then train others. We have to increase the number of data scientists in the Philippines. According to the Gartner Data and Analytics Summit, by 2020, 40 percent or more of data will be automated, presenting great opportunities for Filipino data scientists. Given the data revolution, predictive analytics and data automation will be some of the hottest topics for business this year. As companies are realizing the unprecedented opportunities “data mining” creates, there will be a shift to more predictive analytics to assess future economic conditions, risk areas, climate trends, infrastructure maintenance and investment needs. Corporate IT and data science departments will begin to integrate the various pieces of analytics into an organized whole. There is the baseline of rudimentary analytics, and then there is the possibility of augmenting these analytics with machine-generated data queries through artificial intelligence (AI) and machine learning (ML). Both AI and ML “learn” from data analytics repositories by observing repetitive patterns of data, processing and outcomes, and then posing derivative queries from what is learned. AI and ML will augment—not replace—human creativity in terms of framing unique analytics queries. Because AI/ML can rapidly perceive repetitive patterns, they may be able to deliver faster times to market for certain business insights. As mentioned above already, it becomes obvious that companies have no choice but to train their staff in data analytics so that they can respond to market opportunities faster and—at the same time—avoid disruptive innovation affecting their business by competitors. It will be essential to tap on all stakeholders—government, private sector, academe and civil society— to turn these challenges into opportunities. It goes without saying that such stakeholder relations must be built on trust; and remember, trust and transparency are two sides of the same coin.

I am looking again for your feedback—contact me at schumacher@eitsc.com.

HE House Committee on Ways and Means, and the Bureau of Customs (BOC) on Monday created a technical working group (TWG) to jointly review the implementation of the National Value Verification System (NVVS). In an interview with reporters following the BOC, briefing on the implementation of NVVS, Albay Rep. Joey Sarte Salceda said the committee, and the BOC, formed a TWG to thresh out issues and create safeguard measures on the implementation of NVVS. Salceda said the TWG will further study whether or not the NVVS is based on the objective and quantifiable data as required by the World Trade Organization (WTO). Based on the WTO agreement, Salceda said the BOC should only impose duties on transaction value for as long as the buyer and seller agreed on common price. “There is P7.8-billion unrealized [revenue] from July 2019 to January

2020 due to NVVS,” said Salceda. Earlier, the Bicol lawmaker said the BOC should suspend its Webbased NVVS and focus on the bureau’s structural deficit. NVVS is an internal tool of BOC Assessment officers to check the declared value of importation against the prevailing reference values. According to Salceda, 90 percent of the transactions in the BOC does not needtoundergoinspectionunderSuper GreenLane.AllSGL-accreditedfirmsdo not need to undergo documentary and x-ray inspection for each shipment. Moreover, in a letter to Salceda dated February 12, Customs Commissioner Rey Leonardo Guerrero said the bureau is now, in fact, in the process of undertaking measures to improve the issues on the NVVS. “These measures are included in the Customs Modernization Project sponsored by the World Bank, which is already subject to approval of the National Economic and Development Authority,” he said.

“However, considering the purpose of the NVVS as the bureau’s primary risk management tool to combat undervaluation and address trade misinvoicing, we would like to seek the honorable committee’s kind indulgence to reconsider its recommendation to suspend the NVVS until such time that these measures take effect, and we are able to migrate the remaining functionalities of the NVVS that the honorable committee finds acceptable,” Guererro added. Guerrero added that the issues and concerns surrounding the continued implementation of the NVVS shall not be used to violate the law and the country’s international commitments relating to Customs valuation. “Likewise, we undertake to conduct a regular dialogue with our stakeholders to ease concerns, if any, but more important to immediately address any issues in the implementation of the NVVS,” he added. Jovee Marie N. Dela Cruz

Auctions could bring in $20-B RE investment to PHL, study shows By Roderick L. Abad

Contributor

@rodrik_28

WHOPPING $20-billion investment in renewable energy (RE) could be raised by the Philippines over the next decade via auctions in and beyond the Green Energy Tariff Program proposed by the Department of Energy (DOE), a recent study has revealed. Titled “Paying Less for More-How Auctions Can Transform the Philippines Power Sector,” the latest report by the Institute for Energy Economics and Financial Analysis (IEEFA) came out as the DOE headed from President Duterte’s call for more low-cost RE through its tarrification proposal that would establish pricing for solar, wind and other RE sources. Such program seeks to push for competition and draw more investments in the green energy sector. “This leadership by the Department of Energy will enable lower pricing for consumers and industry,

while ensuring a more secure supply of domestic renewable power,” said Sara Jane Ahmed, author of the report and financial analyst at IEEFA. The research provides ways to enhance the bids process to allow international capital uptake of 20 gigawatts of new power with a potential $20-billion investment value. “Auctions improve transparency on getting access to the grid and make it easier to raise finance at a viable rate, setting record-low generation prices globally,” she said. “The Department of Energy can achieve even better pricing by refining its competitive auctions framework.” Ahmed suggested the Philippine government to stimulate competitive auctions for the Green Energy Pricing Program’s 2,000-megawatt immediate goal, and then use bids to achieve its 2030 targets and beyond. She, likewise, recommended a strong focus on choosing the right power technologies for various sites nationwide, reviewing the grid and

transmission systems to plan for future absorption of RE, and canceling, or changing restrictions, on foreign ownership to attract global capital, together with other means that will improve bankability, such as guaranteeing access to grid. What’s more, the author and analyst advised that the Independent Electricity Market Operator of the Philippines should conduct the bidding so as to make sure transparency and competitiveness during the process. “Emerging markets, such as the Philippines, are well-positioned to attract low-cost global capital to fund the development of renewableenergy infrastructure. The result will be competitive pricing enabling lowcost electricity and reduced capital costs,” Ahmed stressed. In Cambodia, the Asian Development Bank made possible a similar auction process that initially attracted 26 foreign and local bidders, and landed a final bid of $0.03877 per kilowatthour, or equivalent to P1.93 per kWh.

A6 Tuesday, February 18, 2020 • Editor: Angel R. Calso

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editorial

Waiting for our own ‘Parasite’

ocal filmmakers can learn a lot from the success of Parasite, which made Oscar history as the first foreign-language best picture winner. The film also won Cannes Film Festival’s prestigious Palme d’Or. The film’s plot starts simply enough. A boy from a poor family goes to work as an English tutor for a rich girl. From there the story unravels and—no spoilers here—but what a story it becomes, indeed. Despite basically having the same setting, just a few characters and reading subtitles throughout the film, it manages to get more suspenseful and engaging every minute. Parasite bested films, such as 1917, Once Upon a Time in... Hollywood, Marriage Story and The Irishman, films that featured A-list stars with much bigger budgets. As one Korean media practitioner told Al Jazeera in a recent story (Parasite: The South Korean film wowing the world): “The fact that it was made by Koreans in Korean, and was still loved and watched all over the world is amazing. It shows that a film doesn’t have to be in English to be ‘watchable.’” Parasite reminds us of the success of Slumdog Millionaire. The 2008 film about a boy from Mumbai’s slums who joins the TV game show Who Wants To Be A Millionaire to find his lost love that won four Golden Globes and eight Oscars, including the best picture prize of both award-giving bodies. At first there was some debate about Slumdog Millionaire in India, most of it having to do with the depiction of squalid conditions and shantytowns, and how they allegedly are tired images of India. But all that talk vanished with its Oscars conquest. Parasite had its critics too but success, as they say, is the best revenge. Both Slumdog Millionaire and Parasite have proven it is possible for local films to do well globally. Their success should encourage our own filmmakers that yes, you, too, can shoot your films in the Philippines, feature homegrown stories, and still draw raves and sweep awards internationally. We are not just referring to indie movies that win in small film fests in other countries—although this is most welcome, too, and Filipino filmmakers have been doing this already. But we are also talking about local films that could contend for awards in the Oscars, the Golden Globes and Cannes. Granted, both Slumdog’s “small” production budget of $15 million (about P720 million) and Parasite’s $11 million (about P561 million) might still be too steep for local filmmakers. Still, there are lessons to be learned. Slumdog, for instance, was a collaboration between Indian and British filmmakers. The cast and crew are Indians, while the director, cinematographer and producer are British. It showed that local filmmakers could work with international investors and producers to film local stories for the consumption of the global market. As it is, our films are barely distributed abroad. They are shown in small film fests here and there. Our production companies should be looking for international tie-ups or coproductions to gain better access to foreign markets. Our country has a lot to offer to international filmmakers. Our services and technical know-how meet Hollywood and European standards. Making films here would definitely result in substantial savings on the part of foreign film companies. Hollywood and other foreign studios also need joint ventures to cut down on costs. They are more open to making movies in countries where the costs are cheaper, where there are exotic sights and unique landscapes. The Philippines has all these. And Filipino filmmakers have got great stories to tell. They just need help with the funding, distribution, technology, and other resources to truly make great films that could compete and make money globally. There is no shortage of story ideas. For instance, both Parasite and Slumdog resonate with Filipinos because we are familiar with their settings and their stories. We live in a country where one-fourth of all city dwellers live in slums and squatter colonies, where a lot of people have to find all kinds of sidelines like the poor family in Parasite; and where people find hope and love amid the squalor, like the childhood sweethearts in Slumdog. Our filmmakers can certainly benefit from a little more money and resources, so their films can be globally distributed. If they can tell great Filipino stories through critically and commercially successful films, it would only be a matter of time before we have our own Parasite.

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THE Entrepreneur

hree international institutions have recently expressed their confidence on the Philippine economy despite the major challenges hounding the global environment.

One of the major debt watchers, Rating and Investment Information Inc. (R&I) of Japan, upgraded the credit rating of the Philippines by a notch to “BBB+” with a stable outlook from BBB. Another upgrade would qualify the Philippines for the coveted “A” rating, which is usually reserved for the most advanced and stable economies in the world. R&I said the upgrade was based on its assessment of the Philippines’s positive growth performance and prospects on the back of the government’s infrastructure development drive and its ability to keep its fiscal condition healthy. R&I also recognized the improving socioeconomic climate in the Philippines. “The Philippines’s economy continues to grow, driven by aggressive public investment under President Rodrigo Duterte’s administration,” R&I said. R&I made the announcement on February 6, 2020, despite the major external and internal challenges,

such as the spread of the COVID-19 and the Taal Vocano unrest. This IS clearly a vote of confidence on the Philippine economy under President Duterte’s leadership. The strong political and economic stability that we experienced last year summarizes the Philippine story. Remember that our gross domestic product (GDP) expanded 5.9 percent in 2019, one of the fastest in Asia, while inflation rate settled at a manageable 2.5 percent, which was within the government’s target range. The combination of rapid economic growth and stable consumer prices likely lifted more Filipinos out of poverty last year following an already substantial improvement between 2015 and 2018. Data from the Philippine Statistics Authority showed the unemployment rate eased to 5.1 percent in 2019, the lowest since 1981, while poverty incidence declined to 16.6 percent in 2018 from 23.3 percent in 2015. This means 5.9 million

Filipinos were lifted out of poverty over the three-year period. It is also in line with the government’s goal to reduce the poverty incidence to 14 percent by 2022. R&I also looked at these indicators in deciding on the latest upgrade. “While the unemployment and poverty rates are falling, per-capita gross national income is rising at a solid pace,” the Japanese firm said. Another credit watcher, Fitch Ratings, adjusted its BBB credit rating outlook for the Philippines from “stable” to “positive” on February 10, 2020. The positive outlook from Fitch signals that a possible upgrade to BBB+ could happen in the next 12 to 18 months. Fitch recognized the Philippines as among the fastest-growing economies in the Asia-Pacific region, saying it expects the GDP to grow by 6.4 percent this year and 6.5 percent in 2021. It noted the Philippines’s sound economic policy, as shown by the government’s healthy fiscal position and implementation of tax reforms. Meanwhile, the International Monetary Fund said the Philippines was in a good position to weather various global economic risks and expects GDP to grow by 6.3 percent in 2020. “The Philippine economy ranks among the best performers in Asia in recent years,” it said. The IMF said the latest assessment for the Philippines’s medium-term economic outlook remained “favorable, especially if the strong structural reform momentum continues.”

The economic chaos train wreck

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager

Manny B. Villar

Lourdes M. Fernandez

Senior Editors

Creative Director Chief Photographer

Vote of confidence

John Mangun

OUTSIDE THE BOX

aving previously talked about it for months, the economic chaos cycle is beginning to bite. Well, you might say, there would not be any economic crisis if not for the “black swan” event of the COVID-19. When the political cycle turned in October 2015, no one predicted Duterte, Brexit or Trump, but those three political events happened right on the cycle schedule. We can also add the “Yellow Vest” protests in France (October 2018) and the 2016 Mong Kok civil unrest in Hong Kong. The last two led to increasing political unrest going into 2019. The cycles predict the narrative and the events fill in the details. Get used to the economic chaos cycle getting stronger and stronger. The setup for the economic cycle change began long before anyone—except maybe the Beijing government—had ever heard of COVID-19.

Based on quarter-to-quarter, the Philippines reported the highest GDP growth rate in the world for the fourth quarter of 2019. On an annualized basis, of those that have reported, Vietnam came in at 6.97 percent and the Philippines at 6.4 percent, the two highest except for garden spots, such as Tajikistan. Let’s be honest. When Vietnam and the Philippines are the global economic growth leaders, there are probably aliens circling the Earth posting on their social media “#LMAO.” For the fourth quarter of 2019, Indonesia reported a 4.97-percent annual growth. However, the quarter-on-quarter result was dismal at

a negative 1.74 percent. The latest GDP numbers out of Japan showed a negative 1.6 percent by quarter and a huge negative 6.3-percent annualized growth. This was the second-worst GDP reported since the financial crisis and larger than the drop in the aftermath of the Fukushima disaster. Thailand reported data showing that growth slowed to 1.6-percent year-on-year in the last quarter of 2019 down from 2.6 percent in the third quarter. Growth for the full year slowed to 2.4 percent, which was the weakest since the military coup in 2014. The Thai central bank just cut its interest rate to an historic low in anticipation of COVID-19 problems. We can only imagine what the regional numbers are going to look like for the first quarter of 2020 as COVID-19 consequences kick in. But almost everyone enjoys watching a good train wreck video on YouTube as long as you are not involved. There are those that are convinced that the Philippines is going to be a ground zero for the economic collapse. But their comments seem more politically motivated than by an understanding of economics. That is OK; everyone has an agenda.

I believe that we will continue to grow by at least 6 percent annually over the next three years under the Duterte administration and may achieve A credit rating status soon. Such rating would enable us to attract more investors, and obtain loans for infrastructure projects at more favorable rates. In the world of finance, the most creditworthy nations obtain the lowest interest rates. BSP Governor Benjamin Diokno says “given significant improvements in the country’s macroeconomic conditions, which are made possible in part by a favorable inflation environment and a sound financial system, hitting an A scale rating from R&I and the other debt watchers within the next two years is achievable.” Diokno noted that an A rating would translate into lower borrowing cost for the government and ordinary citizens. This simply means the government’s “savings” from reduced borrowing cost may be used to fund more roads, urban transport, mass housing, education and health services, and social welfare. These positive economic developments partly explain Duterte’s rising popularity. It is essential that a leader is respected, and loved, so that stability and calm will ensue in the face of several challenges. For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

Remittances just reported an historic high in line with the 4-percent annual growth that has become normal. There may be a hit to that money coming in, but probably not seriously. The real problem is going to be for countries, like the Philippines, that have a large US dollar denominated debt. And the US dollar is appreciating but also is the Philippine peso. Our exports—particularly agriculture—to China are going to take a big slump. But this will not last long. Even sick people need to eat. Global companies are already looking at the Philippines as an alternative to China. One German company is looking to move its export operations to the Philippines from China as its Japanese customers will not buy their goods—originating in Europe—if transshipped through China. The next two years are not going to be easy. But it is going to be much better in the Philippines than in many other countries, including some of our neighbors. 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.

Opinion BusinessMirror

www.businessmirror.com.ph

Merger: Short-period returns

Suffocating the ‘crocodiles’ in government Manny F. Dooc

Fulvio D. Dawilan

Tax Law for Business

erger and acquisition trend has increased over the years. Merger transactions are undertaken horizontally, vertically, and between and among conglomerates for a number of business reasons. Owing to competitive business environments, mergers and acquisitions are becoming important catalyst for improving on the profitability, leveraging and liquidity positions of businesses. Through mergers and acquisitions, firms are able to overcome the problem of limitation by expanding their resources, and improve competitiveness. In undertaking mergers and acquisitions, regulatory and tax frameworks are also important factors that must be taken into account, aside from the business considerations. I’ll discuss the requirement for the filing of shortperiod return for absorbed corporations, in relation to the effectivity of mergers.

Effectivity of merger

The Revised Corporation Code of the Philippines (RCC) expressly provides for the effectivity of merger, which shall be the issuance of a certificate by the Securities and Exchange Commission approving the articles and plan of merger. The law is silent on whether the parties may agree upon or stipulate a different effective date. A reference, however, to a number of SEC opinions would show that this is possible. In one opinion, the SEC noted that notwithstanding the effectivity of merger as provided in the Corporation Code, a stipulation may be allowed taking into account the following factors: (1) public policy considerations; and (2) the fact that no party will be prejudiced. The stipulated merger date is binding on the parties to the merger agreement. In essence, a merger takes effect upon the issuance of the certificate approving the merger. This shall be observed in the absence of an agreement between the parties stating otherwise. Notwithstanding the strict provisions of the RCC, the parties to a merger may stipulate on its effectivity, subject to the SEC’s approval. Once approved, the agreed date for the merger is controlling even if the certificate is issued by the SEC on a different date. On such agreed effective date, the parties shall observe the effects of merger including the obligations arising from the combination.

Short-period return requirement

A dissolved corporation is required to file short-period returns covering the transactions/income earned by the corporation from the beginning of the year up to the date of its dissolution. The short-period return will commence from the beginning of the year when the corporation was dissolved up to the date of its dissolution. This short-period return is required to be filed within 30 days from the date of dissolution. Previously, the short-period return was expressly required for corporations contemplating dissolution, excluding corporations contemplating reorganization, such as mergers. Jurisprudence and changes in the laws, however, applied the rules on absorbed corporations in cases of mergers. These absorbed corporations in merger transactions are, therefore, also required to file short-period returns. When should the 30-day period be reckoned for purposes of filing the short-period return by the absorbed corporations? Jurisprudence and BIR issuances had confirmed that the 30-day period should start from the effectivity of merger. Thus, in cases where no

specific date of effectivity is provided in the articles and/or plan of merger, the 30-day period shall be counted from the date of issuance of the certificate of merger by the SEC, the same being the effectivity date. On the other hand, should the parties specifically provide for date of effectivity, there are two possible scenarios that may happen: (a) SEC approval comes after the stipulated effectivity date, and (b) SEC approval is made earlier than the stipulated date. Under these two situations, rulings issued by the BIR provided inconsistent answers. In the first situation, a ruling of the BIR had confirmed that the SEC’s approval is the operative fact that gives legal effect to the merger and results to the cessation of the separate personality of the absorbed corporation. As such, the 30-day period shall be reckoned from the SEC’s approval of the merger. Thus, should the issuance of the certificate of merger be far removed for the effectivity date as stipulated by the parties, the approval date shall be used as the reckoning date of the 30-day period. In the second scenario, a ruling by the BIR confirmed that the effectivity date as stipulated by the parties shall be observed for purposes of complying with the short-period return. This is so because the absorbed corporation will be considered automatically dissolved only on the stipulated date. Accordingly, the 30-day period shall be counted from the effective date of merger as agreed by the parties. It would seem that under these two scenarios, whichever is the latter date shall prevail. Before the approval by the SEC, there is certainly no obligation on the part of the absorbed corporation to comply with the short-period return. The approval gives effect to the merger and all the provisions stipulated in the plan of merger. An obligation to file short-period return arises only when there is approval. Thus, should the agreed effectivity date be later that the approval, the filing shall be deferred until after the agreed effectivity date so that all transactions up to the agreed date will be covered. On the other hand, should the agreed effectivity date be earlier than the approval date, the filing shall be deferred until after the approval. In either case, a request for extension for the filing of the short-period return may have to be made to avoid the late filing of the return. This is just one of the concerns attendant to a merger. We will discuss some of the other issues in subsequent articles.

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 fulvio.dawilan@ bdblaw.com.ph or call 8403-2001 loc 310.

TELLTALES

hen the US political event of 2020 on President Donald J. Trump’s impeachment is written, one name will stand out—Sen. Mitt Romney of Utah. He was the only Republican member of the US Senate who crossed the political divide and voted to convict President Trump on the first charge of abuse of power. He was also the first senator in history who voted against his party-mate president to be ousted from office.

In two previous impeachment trials of American presidents, Andrew Johnson and Bill Clinton, both Democrats, no senator politically allied to the impeached presidents had voted for their conviction. In his speech, Romney explained his vote, “[M]any demand that ‘I stand with the team.’ I can assure you that that thought has been very much on my mind...I have voted with him 80 percent of the time. But my promise before God to apply partial justice required that I put my personal feelings and biases aside. Were I to ignore the evidence that has been presented, and disregard what I believe my oath and the Constitution demands of me for the sake of a partisan end, it would, I fear, expose my character to history’s rebuke and the censure of my own conscience.” This, to me, earns him a page in any book profiling political courage.

Despite being fully aware of the dire consequences of his act—the disapprobation of Trump and ostracism of his own party, which had nominated him as its standard bearer as presidential candidate in 2012, he braved the unchartered waters and convicted his own president. Romney said, “I recognize there are going to be enormous consequences for having reached this conclusion.” But he was undeterred. He followed his conscience over his political instincts. One senator, Tim Kaine, Democrat of Virginia, lamented: “Unchallenged evil spreads like a virus. We have allowed a toxic president to infect the Senate and warp its behavior.” In effect, he said that Trump’s abuses are more fatal than the COVID-19. One senator-juror, a Democrat, after hearing Romney’s vote, quipped that his vote would stand up for centuries, and that

Bloomberg Opinion

ow often do you see a piece of economic or financial information revised upward by 45 percent? And how reliable would you regard a data set that’s subject to such adjustments? This is the problem confronting epidemiologists trying to make sense of the novel coronavirus spreading from China’s Hubei province. On Thursday, the tally there surged by 45 percent—or 14,480 cases. The

revision was largely due to health authorities adding patients diagnosed on the basis of lung scans to a previous count, which was mostly limited to those whose swab tests came back positive. The medical data emerging from hospitals and clinics around the world are invaluable in determining how this outbreak will evolve—but the picture painted by the information is changing almost as fast as the disease itself, and isn’t always of impeccable provenance. Just as novel infections exploit weaknesses in the

finally “there is honor in the Senate.” Okay, the Senate has spoken but the final verdict will be handed down by the American electorates 10 months from now when they elect their president. The Americans will then be the jury and it will be interesting to find out whether they will rise above partisan politics, or hearken to their conscience. nnn

The Indonesian government has offered a cash reward to anyone who can remove a motorbike tire tightly stuck around the neck of a wild crocodile. The 4-meter deadly reptile was captured on video gasping for breath during its last sighting. It is believed that the tire is slowly killing the crocodile, which needs an urgent rescue. Several failed attempts were done in the past so the governor of Central Sulawesi has come out with a reward. He, however, cautioned that he only welcomes professional croc hunters with experience in wildlife conservation to accept the challenge. He has on mind someone like Crocodile Dundee who can pull off the job without ending up inside the beast’s belly. Locally, our government, which has declared total war against corruption, can offer a reward to anyone who can wrap tires around the neck of “crocodiles” in government and tighten them up until they suffocate. We need to take up more drastic action if we are to exterminate corruption in our government, which even PRRD has acknowledged. In fact, in the last global Corruption Perception Index of Transparency International,

perception of corruption in our country slid 14 places from 98th down to 113th out of the 180 countries covered, indicating a perception that corruption has worsened during the past year. This is the lowest since 2011 when we placed 129th out of 178 countries included in the perception survey that year. Our best performance was in 2014 at 85th place. Despite our government’s efforts to curb out corruption in government, we seem to fail to stamp out venalities in the public sector. It would seem that the firing of corrupt government officials by PRRD, the cutting of red tape in government agencies, and the setting up of 8888 hotlines for citizens’ complaints seemingly failed to stop corruption. Among the Southeast Asian countries, Singapore has obtained the highest ranking at 4th and the rest outperformed us, except Myanmar, Lao PDR and Cambodia. We all agreed that combating corruption is a long-term process but it will make a head start if the present administration, which has adopted anti-corruption as its flagship program, together with its antidrug campaign, can make a dent upon which succeeding administrations can build on. As Presidential spokesman Salvador Panelo has said in the past, “corruption cannot be obliterated overnight for it has significantly developed within our country’s system of governance through the years.” Well said, but let’s now put that “tire” around the neck of the crocodiles in our government.

Shaping a more inclusive Philippines through financial technology By Ney Villasenor

hile there is a huge push to bridge the gap between the banked and the unbanked in the Philippines, a huge number of the Philippine population still remain bereft of benefits of financial tools, as barriers, such as proximity to commercial banks, trust in lenders and even economic perception still linger. We are a long way from reaching a more financially inclusive Philippines, but while the traditional way may seem far too lengthy, we believe that there is a shortcut to this goal, so to speak. We just have to look at the most often used device in the world—the mobile phone. Over the past decade, the Bangko Sentral ng Pilipinas (BSP) has strengthened its initiatives in promoting financial inclusion. It has launched several programs aimed at cutting the processes and eliminating the barriers to gaining access to financial tools and services. According to the World Bank, a financially inclusive society is where people and businesses have access to useful and affordable financial products and services that meet their needs. This means that financial tools, such as payments, savings, credit and insurance are readily available to them, all while ensuring that the use of these services are sustainable for the end-users. In a financially inclusive society, a fisherman in the province of Sulu should be able to tap into credit in order to help him scale his operations faster by buying a new boat. Likewise, an expecting mother in Cagayan should also be able to have savings in order to finance her delivery and be able to provide for her future child.

By promoting financial inclusion, a fresh graduate with a business idea should be able to secure funding for his future enterprise. This is the very picture that the Central Bank wants to paint, and we are encouraged by the developments that the BSP had initiated in the financial regulatory space. So far, we have seen a multiagency approach in tackling critical pain points in addressing the gap between the banked and unbanked. Different agencies, such as the Department of Education, the Civil Service Commission, and the Central Bank had been working hand in hand to develop new means of increasing financial literacy. Likewise, the future national ID system will provide a much needed boost to bring financial services to the masses. It has been one of the key hurdles of individuals in participating in the financial landscape since day one. By providing free national ID to citizens, the government is removing a hurdle for people to gain access to a bank account. Another development is the huge push for the stronger implementation of the National Retail Payments System, which aims to migrate 20 percent of total transactions to noncash means, especially digital payments. Today, we have a very strict but

Big data won’t save you from coronavirus By David Fickling

Tuesday, February 18, 2020 A7

body’s immune defenses, epidemics have an unnerving habit of spotting the vulnerabilities of the data-driven society we’ve built for ourselves. That’s not a comforting thought. We live in an era where everything seems quantifiable, from our daily movements to our Internet search habits and even our heartbeats. At a time when people are scared and seeking certainty, it’s alarming that the knowledge we have on this most important issue is at best an approximate guide to what’s happening. “It’s so easy these days to cap-

ture data on anything, but to make meaning of it is not easy at all,” said John Carlin, a professor at the University of Melbourne specializing in medical statistics and epidemiology. “There’s genuinely a lot of uncertainty, but that’s not what people want to know. They want to know it’s under control.” That’s most visible in the contradictory information we’re seeing around how many people have been infected, and what share of them have died. While those figures are essential for getting a handle on the

open regulatory environment that fully supports the vision of having a more financially inclusive Philippines through programs, such as regulatory sandboxes, promotion of e-money, democratized personal credit products and rules on more efficient customer verification processes. With the emergence of mobile money technology, we are on the right track to reaching the industry’s goal of increasing the banked to at least 70 percent in 2023, a target that no less than BSP Governor Benjamin Diokno announced. This may sound like an ambitious and tall order given that only 3 out of 10 Filipino adults have bank accounts, but we believe that it is doable. Financial technology (fintech) is a means to bringing the much-needed financial tools closer to the palms of Filipinos. By leveraging innovation and advances in data science, fintech offers Filipinos a wide range of financial products that affords them the ability to participate in the financial landscape. There are a number of e-money issuers in the Philippines that offer varied financial services, such as savings, credit and insurance. Through their mobile phones and apps, Filipinos can now access, enjoy and capitalize on opportunities that were previously far from their reach. Our shared goal in the fintech space is to cater to the spectrum of needs of all sectors of society—especially the unbanked and the underbanked. Through fintech we are able to help people manage their finances better while reducing vulnerabilities to financial distress, debt,

and poverty. Financial inclusion is not exclusively beneficial to the unbanked. According to a report from Ernst & Young Ltd., promoting inclusivity in finance helps drive economic expansion, as more and more people participate in commerce and trade. Growth potentials, the report concluded, could reach as high as 30 percent such as in Kenya. The Asian Development Bank also found that increasing access to financial instruments helps curb inequality, as it helps empower the poor to invest in their future. Championing financial inclusion through technology, which makes access to savings, credit, and insurance a lot easier, is the future. Leveraging on the ubiquity of mobile phones, we are now able to make it easier for everyone to participate in the financial landscape—from the poor to the rich. We have a huge opportunity to bridge this gap through fintech, as almost everyone in the Philippines now own a handset or two. Through fintech platforms, such as GCash, we are able to help the government achieve its goal of creating a more inclusive society. By simplifying the processes and providing solutions that are tailored to the demands of time, we are helping shape the Philippines to become a more financially inclusive country, one where the fisherman, the mother, and the fresh graduate with a huge plan ahead have the power to unlock their dreams through financial security.

situation, as we’ve argued, they’re subject to errors in sampling and measurement that are compounded in high-pressure, strained circumstances. The physical capacity to do timely testing and diagnosis can’t be taken for granted either, as my colleague Max Nisen has written. Early case fatality rates for Severe Acute Respiratory Syndrome were often 40 percent or higher before settling down to figures in the region of 15 percent or less. The age of patients, whether they get sick in the community or in a hospital, and

doctors’ capacity and experience in offering treatment can all affect those numbers dramatically. Even the way that coronavirus cases are defined and counted has changed several times, said Professor Raina MacIntyre, head of the University of New South Wales’s Biosecurity Research Program: From “pneumonia of unknown cause” in the early days, through laboratory-confirmed cases once a virus was identified, to the current standard that includes lung scans. That’s a common phenomenon during outbreaks, she said.

The author is Vice President and Chief Corporate Affairs Officer of GCash.

A8 Tuesday, February 18, 2020

Race is on to extend ABS-CBN franchise

By Butch Fernandez @butchfBM & Jovee Marie N. dela Cruz @joveemarie

ENATORS are moving to extend the expiring 25-year franchise of ABS-CBN Corp. due to lapse on March 30, ahead of the next adjournment of Congress scheduled on March 14.

Sen. Grace L. Poe, who chairs the franchise-granting Senate Committee on Public Services, said on Monday that Congress can extend

ABS-CBN’s permit to operate while the lawmakers are still considering the pending franchise. A c t i n g to a l l ay conce r n s

triggered by the “uncertainties on the fate of the network” when its franchise expires next month, Senate Minority Leader Franklin M. Drilon filed Joint Resolution 11 to extend the ABS-CBN franchise up to December 31, 2022, saying “both Houses of Congress need more time to review the application for renewal of the network’s franchise.” In filing the resolution, the minority leader asserted that the lawmakers need to assess and determine whether or not ABS-CBN Corp. shall be granted the renewal of its franchise, noting that “there are only 12 session days left before

“Instead of giving ABS-CBN an illusory remedy, the House of Representatives must expedite the renewal of ABS-CBN’s franchise which has long been pending in the House committee on legislative franchises.”—Lagman

the next adjournment of Congress scheduled on March 14, 2020.” Drilon declared that extending the validity of the franchise of ABS-CBN until December 31, 2022, will “give Congress enough time to study the various bills seeking the

IC warns insurance firms on ₧900-M deadline By Bernadette D. Nicolas

@BNicolasBM

HE Insurance Commission (IC) has issued a stern warning to all life and nonlife insurance companies that a ceaseand-desist order shall be issued against them should they fail to comply with the P900-million minimum net worth and minimum capital investment requirement within the deadline. The IC said in its February 11 advisory signed by Commissioner Dennis B. Funa that all companies have until February 28, 2020, to comply. Otherwise, a show-cause

order will be served to direct the company to make any such deficiency “by cash, to be contributed by all stockholders of record in proportion to their respective interests, and paid to the treasurer of the company, within 15 days from receipt of the letter.” Moreover, the company shall be ordered not to take any new risk of any kind or character unless and until it makes good on any such deficiency pursuant to Section 200 of the Amended Insurance Code. “In the event the company still failed to comply with the P900million minimum net worth and minimum net capital investment

NORTHEAST MONSOON MONSOON NORTHEAST AFFECTING NORTHERN NORTHERN AND AND AFFECTING CENTRAL LUZON LUZON CENTRAL as of of 4:00 4:00 pm pm -- February February 17, 17, 2020 2020 as

within the prescribed deadline, a cease-and-desist order shall be issued,” IC said in an advisory addressed to all life and nonlife insurance companies authorized to do business in the Philippines. Last month, the IC issued followup letters to companies with net worth below P900 million. For purposes of determining compliance with the P900-million net worth requirement, the IC said in the same advisory that it shall use the third-quarter financial reporting framework submission of the company, including any afterdate transactions, such as capital infusion and/or other adjustments

thereof, as basis of their compliance for the year ended December 31, 2019. In a related development, IC also lauded a local nonlife insurance company for early compliance with the net worth requirement. SGI Philippines General Insurance Co. Inc. (SGI Philippines) has already complied with the P1.3billion capital requirement which is not due until end-2022 after its majority shareholder Indian insurance company Shriram General Insurance Co. Ltd., infused fresh capital amounting to P624 million. See “IC,” A2

Newsnet case sparks NTC-Arta word war By Lorenz S. Marasigan

@lorenzmarasigan

HE National Telecommunications Commission (NTC) has sought the intervention of the Department of Justice (DOJ) over a spat with the Anti-Red Tape Authority (Arta), which earlier called out the telco regulator for supposedly violating provisions of the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.  Monday saw the NTC retaliating against Arta, saying that its intervention—instructing the regulator to issue a certificate of public convenience to News and Entertainment Network Corp. (Newsnet)—was “unnecessary.” “Arta had no jurisdiction over its quasi-judicial functions which are not covered by the three-, sevenand 20-day periods and that radio frequency assignment, subject to treaty obligations, is also exempt from Arta’s coverage,” a statement from the telco regulator read. To recall, Arta Director General Jeremiah Belgica last week ordered NTC Commissioner Gamaliel Cordoba to immediately issue a CPC to Newsnet, saying that the regulator violated particular provisions of the ease of doing business law, after failing to issue the license “within the time required by law” despite being compliant to all the requirements. It explained that it had followed the required procedures in processing franchises and licenses in regard to the application of Newsnet. Newsnet, according to the statement, received on January 27 a provisional authority from the telco regulator. The same decision also allowed Newsnet to co-use the frequencies of its GHT Network Inc., a company who it is affiliated with. See “NTC-Arta,” A2

renewal of the franchise granted to the network.” The senator added: “On March 30, 2020, more than 11,000 families will go home jobless and millions of viewers will be affected if we do not act on this resolution immediately, I therefore urge for the immediate passage of this resolution.” Under Republic Act 7966, enacted into law on March 30, 1995, the ABS-CBN Corp. was granted a franchise “to construct, operate and maintain, for commercial purposes and in the public interest, television, and radio broadcasting stations in and throughout the

country. The term of the franchise is for 25 years, which is set to expire on March 30, 2020.” Drilon’s proposed Joint Resolution 11 also noted that at least 12 related bills filed in the House of Representatives “seeking to renew the franchise” of ABS-CBN Corp. remain pending in the House Committee on Legislative Franchises. He recalled that last February 10, or about 50 days before the ABS-CBN franchise expires, the Office of the Solicitor General filed a quo warranto petition at the Supreme Court to forfeit the legislative franchise of ABS-CBN Continued on A2

COVID-INFECTED PINOYS THE QUICK BROWN FOX JU ON CRUISE SHIP NOW 27 OVER THE LAZY DOG.ATTHE

LAZY T DOG

HE number of Filipinos onboard the cruise ship Diamond Princess who have tested positive for coronavirus disease 2019 (Covid-19) is at 27, including 16 new cases confirmed on Saturday, February 15. The Department of Foreign Affairs (DFA) reported this on Monday, as relayed by the Embassy in Tokyo. However, the DFA added that no Filipinos are included in the new group of 70 confirmed cases as announced by the Japanese government last February 16. “The Japanese Health Ministry announced that all crew and passengers onboard will be tested beginning February 17, so that test results will be available by the time the ship’s quarantine period ends,” the DFA said. It said the embassy is in close coordination with the relevant Philippine and Japanese government agencies, and representatives of the World Health Organization and Princess Cruises “to ensure that the needs of the Filipino crew and passengers are met, and to facilitate their return to the Philippines” Meanwhile, the Department of Health (DOH) on Monday vowed to expedite its efforts to trace the contacts of the three confirmed cases of Covid-19 in the country to prevent the infection from spreading further. “We are working with the PNPCIDG (Philippine National Police - Criminal Investigation and Detection Group) and concerned local government units to expedite our contact tracing for the third confirmed case. DOH is keen on ensuring that all those who may have come in contact with this case be immediately assessed and facilitated,” Health Secretary Francisco T. Duque III said. Of the 280 contacts of the first two cases, 221 have completed the required 14-day home quarantine. Meanwhile, 14 are still on home quarantine. The remaining 45 contacts were admitted as Patients Under Investigation (PUI)—of these, 31 have been discharged, two are still currently admitted, six are under strict monitoring, and six are already outside the country.

COVID-19. . . Continued from A1

As for the 182-day T-bills, the average auction rate settled at 3.420 percent, a decrease of 4.1 basis points from the previous auction rate of 3.461 percent. A total of P20.792 billion was tendered for the security. Meanwhile, the 364-day T-bills worth P8 billion on offer posted an average auction rate of P3.836 percent. This is 7.2 basis points below 3.908 percent recorded in the previous auction. Tenders for this tenor reached P35.755 billion. On top of Monday’s auction

On the third confirmed case, a total of 255 (34 percent) out of 740 contacts were traced, including copassengers and individual contacts from hotels and hospitals. Currently, 172 (67 percent of traced contacts) have been interviewed. Of these, 155 have completed their home quarantine. Of the 17 symptomatic contacts admitted as PUIs, 15 have already been discharged, and two are now out of the country.

PUIs in decline As of 12 noon Monday, there were 171 PUIs admitted in various health facilities. A total of 350 patients were discharged. “The decrease in our admitted PUIs reflect the department’s strengthened surveillance, assessment, and management interventions for the Covid-19 Health Event. Although we see a decreasing trend, the department will not be complacent and will be more vigilant as we brace for the possibility of local transmission in our country,” Duque said. At present, 453 PUIs have tested negative for the COVID-19 and there are only 22 cases with pending test results. The remaining patients have yet to submit specimens for testing. “We cannot underscore more the importance of regular handwashing and observance of cough etiquette to prevent the spread of the Covid-19,” Duque added. In a press briefing, Health Assistant Secretary Maria Rosario Vergeire, however, did not discount the possibility of local transmission. “Although the number of PUIs is decreasing, we cannot be complacent. We should always be ready for that possibility of local transmission in the future,” she said.

Updates on repatriates Duque said that 49 repatriates from China at the New Clark City quarantine facility show no signs or symptoms of respiratory illness. Repatriates are monitored twice a day. Recto L. Mercene, Claudeth Mocon-

Ciriaco

results, de Leon also disclosed the BTr’s plan to open the tap and OTC facilities for one-year T-bills worth P8 billion amid strong demand. As for the other offshore bond issuances, de Leon said they are still monitoring the market for the dollar-denominated bond issuance but given the lingering concern on the virus outbreak, she said “it is still very tepid for the moment in terms of other issuances also.” De Leon said fiscal authorities are still monitoring the situation and hinted at acting on other issuances on reduced concerns on Covid-19 “and we see that there is [lesser] risk sentiment [in the] market.”

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Companies BusinessMirror

Tuesday, February 18, 2020

PCC raises thresholds for mandatory review of mergers By Elijah Felice E. Rosales @alyasjah

HE Philippine Competition Commission (PCC) has increased the threshold for mandatory merger review to P6 billion for size of person, and to P2.4 billion for transaction size, as part of efforts to streamline its procedures and redirect resources. In a commission decision last week, the PCC raised the thresholds for compulsory notification of mergers and acquisitions to P6 billion, from P5.6 billion for size of person. The existing fee (P2.2 billion) for merger review for size of transaction was raised to P2.4 billion, effective March 1. Under PCC Memorandum Circular 18-001, the agency is mandated to adjust the thresholds

for merger review based on the nominal GDP growth of the past year rounded up to the nearest hundred millions. According to the PCC, this ensures that the thresholds maintain their real value over time and relative to the size of the economy. Based on estimates of the Philippine Statistics Authority (PSA), the nominal GDP growth last year stood at 6.8 percent.

T he adju st ment t h i s yea r marks the third time the PCC changed the threshold since the competition law was enacted in 2015 with a baseline amount of P1 billion. PCC Chairman Arsenio M. Balisacan explained the adjustment was made to make sure transactions that can injure competition will be subject to review, while weeding out those with less impact on the market. Further, the PCC is in the process of reallocating its resources to its other functions, particularly in the conduct of cartel investigations. “Adjustment of the thresholds ensures that potentially anticompetitive M&As [mergers and acquisitions] are subject to compulsory notification and review, while those that are less likely to pose competition concerns are excluded,” Balisacan said in a statement. “With the increase in thresholds streamlining the intake of notified cases, this will allow the commission to efficiently use its

resources towards other equally important elements of competition enforcement, including the conduct of cartel investigations, market monitoring and motu proprio merger review,” he added. Meeting the P6-billion sizeof-person and P2.4 billion sizeof-transaction thresholds are considered triggers for firms to notify the PCC of their mergers and acquisitions. Size of the person refers to the value of assets or revenues of the ultimate parent entity of at least one of the parties, while size of transaction refers to the value of assets or revenues of the acquired entity. At present, the PCC has received a total of 207 transactions with a combined value of P3.6 trillion. Of this total, the commission approved 192 of them and blocked one. According to the competition body, the leading five most active sectors remained to be manufacturing, electricity and gas, finance and insurance, real estate and transport and storage.

SM Prime income rises 18% in 2019 By VG Cabuag @villygc

HOPPING mall operator SM Prime Holdings Inc. said its net income last year grew 18 percent to P38.1 billion in 2019 from P32.2 billion in 2018 still on higher income of its core business. Consolidated revenues rose 14 percent to P118.3 billion from P104.1 billion in the previous year, while consolidated operating income went up 17 percent to P56.7 billion from the previous P48.3 billion. “SM Prime’s continuous growth was brought about by our strategic expansion in the country’s developing cities. We look forward to 2020 as we strengthen our presence in more key areas in the Philippines through sustainable integrated property developments that have great potential to further contribute to the growth of the overall economy,” SM Prime President Jeffrey Lim said. The company’s Philippine mall business recorded an 8-percent increase in revenues to P57.8 billion for the entire 2019 from P53.5 billion in 2018. This was mainly driven by the 7 percent same-mall-sales growth across all mature malls. The cinema and event ticket sales reported a 6-percent growth to P5.5 billion in 2019 from P5.2 billion in 2018, while revenues from amusement, merchandise sales and others went up by 15 percent to P3.9 billion in 2019 from P3.4 billion in 2018. Philippine mall operating income

By Lenie Lectura

@llectura

I VA N T Cor porat ion has tapped Stock Transfer Service, Inc. (STSI) as its stock transfer agent, replacing RCBC Trust and Investments Group. “Vivant Corporation has engaged Stock Transfer Service, Inc. (STSI) as its stock transfer agent, to replace RCBC Trust and Investments Group resigned as the Stock Transfer Agent of Vivant Corporation after almost six years of partnership,” it said in a disclosure Monday. The board approved this last February 3 and will take effect on April 18. “The resignation by RCBC Trust and Investments Group was a result of the downsizing of the stock transfer agency services,” it added. The Cebu-based firm earlier said it was setting aside P1 billion this year to achieve a target attributable capacity of 500 megawatts (MW) in three years. Tw e nt y p e rc e nt of t he planned 500MW capacity is renewable energ y. To date, Vivant Energy Corp., which manages the investments of publicly listed Vivant Corporation in the energy sector, has an attributable capacity of 282 MW composed of diesel and coal-fired power projects. Last week, a subsidiary of Vivant Energy Corp. and the Bantayan Electric Cooperative (Banelco) signed a 15-year power supply deal meant to

provide a stable and reliable energ y source in Bantayan Island. T he parties signed a 15 -megawatt (M W ) power supply agreement. Under the agreement, Isla Norte Energy Corporation—a consortium of Vivant Energy, Vivant Integrated Diesel Corporation and Gigawatt Power Inc. (GPI)— will install a 23.31-MW dieselfired power plant in the town of Bantayan. The remaining eight megawatts could serve Bantayan’s growing demand for electricity in the years to come. “We look forward to a happy partnership with Isla Norte in the next 15 years,” said Banelco President Oscar Seares during the signing. Vivant Integrated Diesel is a wholly owned subsidiary of Vivant Energy Corp. “We welcome this opportunity to contribute to the continued growth of Bantayan. Having a stable and reliable supply of energy is vital to the economic and social development of the community and we’re honored to be the one given this responsibility. We want to do good here because this is in our home, Cebu,” said Vivant Energy Corp. COO Emil Andre Garcia. “The service, commitment and reliability that our power plants provide in the distribution systems of electric cooperatives are more than satisfactory. This is something that we commit to Banelco,” said GPI President Walden Tantuico.

German court orders Tesla to stop clearing factory site improved by 9 percent to P32.4 billion in the year reported from P29.8 billion of the previous year. SM Prime has 74 malls in the Philippines with about 8.5 million square meters of gross floor area and seven malls in China with 1.3 million sqm. of GFA as of year-end 2019. The company is set to open three to five new malls in key provincial cities in 2020. SM Prime’s residential group, SM Development Corp., recorded a revenue growth of 24 percent to P45.2 billion in 2019 from P36.5 billion in 2018. Consolidated costs of real estate sales increased at 17 percent to P20.8 billion from the previous P17.8 billion. The operating income went up

by 39 percent to P17.1 billion from P12.3 billion. The growth was due to higher construction accomplishments of projects as well as fast takeup of various ready-for-occupancy projects, particularly those located within the Mall of Asia Complex, Pasay and Makati. Reservation sales grew 24 percent to P90.0 billion from P72.3 billion in 2018, and in terms of unit sales, it increased by 11 percent to 23,424 from 21,157. SM Prime is scheduled to launch 15,000 to 20,000 residential units in 2020 that include high-rise and midrise buildings, and single detached house and lot projects. SM Prime’s other business segments registered a combined rev-

enue growth of 14 percent to P9.6 billion from P8.4 billion in 2018. The company has a total of 12 office buildings with a combined GFA of 695,000 square meters, eight hotels with over 1,900 rooms, four convention centers and three trade halls as of year-end 2019. This year, it will launch the first tower and podium of FourE-Com Center which will add more than 110,000 square meters of GFA to its office portfolio, as well as open one Park Inn by Radisson in Bacolod and expand the existing Park Inn by Radisson in Clark. SMX Clark and Olongapo City Convention Center are also set to open in 2020 and these will add to the company’s hotels and convention center’s portfolio.

Integrated Micro-Electronics, Inc. marks 10th listing anniversary NTEGRATED Micro-Electronics, Inc. (IMI) and Philippine Stock Exchange, Inc. (PSE) top executives jointly celebrated IMI’s 10th year as a listed company with a special bell ringing ceremony held at the PSE on February 17. In his welcome remarks during the bell ringing event, PSE Chairman Jose T. Pardo highlighted the company’s steady growth through domestic and foreign expansion and acquisition since its Listing By Way of Introduction in 2010. He also cited the company’s subsequent capital raising activities,

Vivant taps STSI as stock transfer agent

a follow on offering in 2014 and stock rights offering in 2018, which supported IMI’s facilities expansion, among others. To date, IMI has over 20 manufacturing plants in 10 countries. Pardo said, “With technology being an integral part of our lives, we are pleased to see a Filipino company with a global reach providing solutions to businesses in the fields of industrial electronics, automotive, aerospace engineering, telecommunications, medical electronics and renewable energy.”

Shown in photo (from left): IMI Director Jose Teodoro K. Limcaoco; IMI Independent Director Edgar O. Chua; IMI Independent Director Hiroshi Nishimura; IMI Independent Director Sherisa P. Nuesa; IMI Chairman Jaime Augusto Zobel de Ayala; PSE Chairman Jose T. Pardo; PSE President and CEO Ramon S. Monzon, and PSE Chief Operating Officer Roel A. Refran

In this February 2, 2020 file photograph, the company logo sits on an unsold 2020 Model X at a Tesla dealership in Littleton, Colorado. Shares of Tesla Inc. fell 4 percent in early trading on Thursday, February 13, after the electric vehicle and solar panel maker said it would sell more than $2 billion worth of additional shares. The move comes just two weeks after CEO Elon Musk said the company had enough cash to fund its capital programs and it didn’t need to raise any more money. AP Photo/David Zalubowski

German court has temporarily halted the site pre pa r at ion for Tes l a Inc.’s first electric car factory in Europe. The Higher Administrative Court for Berlin-Brandenburg ordered Tesla to stop clearing trees on the wooded site near Berlin until it considers an environmental group’s appeal. In a statement on Sunday, the court said it had to issue the injunction because otherwise Tesla might have completed the work over the next three days. A lower court in Ger many ruled last week that Tesla could clear the trees for its factory. But the environmental group Green League Brandenburg appealed, citing the potential for the fac-

tory to pollute the area’s drinking water and other issues. In its statement, the higher court said there is no reason to assume that the Green League’s appeal won’t succeed. German officials celebrated in November when Palo A lto, California-based Tesla decided to build its first European factory in the country. Tesla said the new plant will build batteries and vehicles, starting with the upcoming Model Y SUV. The company had hoped to complete the factory in the middle of next year. Last month, German officials said 187 pounds of World War II ammunition had been found at the site as Tesla began clearing it. Tesla has two other vehicle factories in the US and China. AP

Companies BusinessMirror

Tuesday, February 18, 2020

PSE STOCK QUOTATIONS

February 17, 2020

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

52.5 149.9 84.6 24.95 11.44 58.6 11.02 31.9 51.5 20.75 170.6 57.8 0.8 17.98 1.1 0.435 841.5 0.76 173 1860 1.13

53 150 85.85 25 11.46 59 11.2 32 53.9 20.85 171 58.75 0.88 18 1.15 0.44 845 0.81 178.8 1878 1.14

53 148.6 86 25 11.34 58.35 11.5 32 54.1 20.7 172.9 58.9 0.8 17.98 1.15 0.405 850 0.75 176 1860 1.14

53 150.9 86 25.05 11.44 59.1 11.5 32.2 54.1 21 173 58.9 0.8 18 1.15 0.44 850 0.82 179.5 1887 1.15

53 148.5 83.9 24.95 11.3 58.1 11.18 31.9 54.1 20.7 170.2 58 0.8 17.98 1.1 0.405 850 0.75 173 1860 1.14

53 149.9 84.6 25 11.44 59 11.2 31.9 54.1 20.85 171 58.55 0.8 18 1.1 0.44 850 0.82 178.8 1878 1.15

510 960090 3345050 194600 39500 1904520 71500 375300 10 94700 117930 1250 100000 13000 13000 320000 100 18000 8710 475 11000

27030 143766005 283840653.5 4866645 449720 112174620.5 803960 11997765 541 1973105 20332952 73051 80000 233812 14530 134900 85000 13590 1539426 883950 12550

-8973885 -23039707.5 -862500 -58176 19505602 -1868790 -1606795 -14430439 -18178 -221220 1468110 -

INDUSTRIAL AC ENERGY 2.15 2.16 2.09 2.18 2.09 2.15 2955000 6319720 ABOITIZ POWER 31.7 32.15 32 32.55 31.7 31.7 121100 3,859,885( 0.217 0.224 0.225 0.225 0.225 0.225 10000 2250 BASIC ENERGY FIRST GEN 19.7 19.8 19.92 20.85 19.8 19.8 1501900 29767027 66.85 66.95 66.85 66.95 66.8 66.85 72640 4,857,009.5( FIRST PHIL HLDG MERALCO 265.4 266 266.8 268 264 266 29580 7867240 MANILA WATER 12.6 12.62 12.5 12.8 12.48 12.62 7662200 96620094 3.47 3.48 3.5 3.52 3.46 3.48 419000 1460130 PETRON PETROENERGY 3.19 3.74 3.74 3.74 3.74 3.74 16000 59840 11.56 11.84 11.66 11.84 11.64 11.84 40100 469004 PHX PETROLEUM PILIPINAS SHELL 28.55 28.6 29.35 29.35 28.6 28.6 208100 5998515 SPC POWER 9.13 9.29 9.12 9.35 9.12 9.12 53600 494092 14.3 15.1 15.1 15.1 15.1 15.1 5000 75500 VIVANT AGRINURTURE 7.24 7.25 7.24 7.46 7.24 7.25 1943900 14231645 2.89 2.9 2.86 2.91 2.83 2.89 1353000 3888550 AXELUM BOGO MEDELLIN 88.25 99.1 88.25 88.25 88.25 88.25 100 8825 CNTRL AZUCARERA 15.72 16.48 16.5 16.5 16.5 16.5 100 1650 15.1 15.18 15 15.3 15 15.1 526000 7919488 CENTURY FOOD DNL INDUS 8.52 8.56 8.64 8.64 8.4 8.52 136500 1167165 7.27 7.29 7.26 7.28 7.25 7.28 207500 1508424 EMPERADOR 74.85 75.7 75 75.75 74.7 75.7 266080 20067055.5 SMC FOODANDBEV ALLIANCE SELECT 0.62 0.63 0.65 0.65 0.62 0.62 1418000 893510 1.86 1.87 1.88 1.93 1.86 1.87 19446000 36802790 FRUITAS HLDG GINEBRA 35.5 36 34.3 36.5 34.3 35.5 24600 866930 188.7 188.8 187.2 190 187.1 188.8 281170 53169856 JOLLIBEE LIBERTY FLOUR 35.05 - 34.05 34.05 34.05 34.05 100 3405 MACAY HLDG 6.54 6.89 6.87 6.87 6.87 6.87 100 687 9.68 9.88 9.8 10 9.62 9.88 98800 965269 MAXS GROUP MG HLDG 0.156 0.175 0.17 0.17 0.16 0.16 510000 81700 1.83 1.84 1.83 1.84 1.83 1.83 685000 1257670 PEPSI COLA 9.48 9.5 9.5 9.52 9.42 9.5 1390500 13236402 SHAKEYS PIZZA ROXAS AND CO 1.55 1.61 1.5 1.65 1.48 1.55 1140000 1720200 1.51 1.52 1.53 1.53 1.52 1.52 97000 147450 ROXAS HLDG SWIFT FOODS 0.117 0.12 0.12 0.122 0.117 0.117 1500000 177280 149 149.5 149 149.8 148 149.5 412890 61468538 UNIV ROBINA VITARICH 1.11 1.12 1.1 1.13 1.1 1.11 4526000 5098230 VICTORIAS 2.41 2.54 2.41 2.54 2.41 2.54 4000 9770 59.85 61.4 69.95 69.95 59.85 59.85 1410 87678 CONCRETE A CONCRETE B 62.1 71.95 62.05 62.05 62.05 62.05 290 17994.5 1.56 1.57 1.48 1.56 1.47 1.56 15365000 23541720 CEMEX HLDG 12 12.02 12.5 12.5 12 12.02 88500 1062664 EAGLE CEMENT EEI CORP 8.43 8.71 8.7 8.84 8.31 8.43 5328900 44922103 12.04 12.1 11.6 12.22 11 12.1 3137700 37312146 HOLCIM MEGAWIDE 14.9 15 14.7 15 14.6 15 241700 3620068 9.65 9.9 9.75 9.79 9.62 9.7 10800 104876 PHINMA TKC METALS 0.91 0.95 0.91 0.92 0.91 0.91 186000 169560 VULCAN INDL 0.96 0.98 0.98 0.99 0.96 0.96 1321000 1273980 175 190 194.4 194.4 190 190 20 3844 CHEMPHIL CROWN ASIA 2.11 2.12 2.12 2.12 2.09 2.12 104000 219020 3.17 3.18 2.81 3.35 2.81 3.17 7534000 23286420 EUROMED 3.1 3.3 3.1 3.3 3.1 3.3 25000 77700 MABUHAY VINYL CONCEPCION 30 30.05 30.05 30.05 30.05 30.05 400 12020 1.51 1.52 1.59 1.6 1.51 1.52 6359000 9724560 GREENERGY INTEGRATED MICR 5.97 5.99 6.11 6.11 5.96 5.96 1068500 6416599 1.2 1.26 1.24 1.28 1.17 1.26 447000 539460 IONICS SFA SEMICON 1.19 1.2 1.15 1.25 1.12 1.21 2507000 2993670 CIRTEK HLDG 8.39 8.4 9.19 9.19 8.36 8.39 1899900 16527752

167009.9999 2,114,139.9995) 5939628 1,076,204.5003) -141918 -12266386 181110 -3147405 930 -75500 -4876663 2850 341296 -235870 213341 -19137384.5 96470 16850 379850 764140 9800 81700 -212530 -68198 -14260 -14380 -26084049 -6057350 -27652 -3966500 76200 1920 20150 -12400 5049000 -1030216 24400 -593845

HOLDING & FRIMS ABACORE CAPITAL 0.89 0.9 0.9 0.91 0.88 0.9 9800000 8760460 ASIABEST GROUP 9.95 10.2 10.16 10.16 9.95 9.95 7700 77426 749 750 750 755 746.5 750 629500 471989875 AYALA CORP ABOITIZ EQUITY 50.4 50.45 49.55 51 49.55 50.45 1530900 77186075 10.36 10.46 10.3 10.46 10.3 10.36 3664600 37910522 ALLIANCE GLOBAL 2.48 2.5 2.48 2.54 2.47 2.5 204000 509000 AYALA LAND LOG ANGLO PHIL HLDG 0.68 0.7 0.68 0.68 0.67 0.68 23000 15620 0.88 0.89 0.89 0.9 0.88 0.89 479000 426850 ATN HLDG A COSCO CAPITAL 6.25 6.26 6.29 6.29 6.2 6.25 60500 377932 5.82 5.83 5.87 5.9 5.81 5.83 9276400 54064285 DMCI HLDG FORUM PACIFIC 0.212 0.236 0.218 0.218 0.212 0.212 110000 23920 GT CAPITAL 731 732 730 734 726 731 54440 39745385 73.6 74.5 74.5 74.9 73.35 74.5 1693410 125832417.5 JG SUMMIT JOLLIVILLE HLDG 6.15 6.6 6.11 6.62 6.11 6.61 62200 410422 5.21 6.25 5.21 5.21 5.21 5.21 1100 5731 KEPPEL HLDG A LODESTAR 0.485 0.495 0.495 0.495 0.49 0.49 50000 24550 LOPEZ HLDG 3.8 3.81 3.81 3.81 3.8 3.81 5385000 20465070 10.04 10.06 10.44 10.44 9.99 10.06 1337200 13488486 LT GROUP MABUHAY HLDG 0.55 0.58 0.53 0.58 0.53 0.58 51000 27080 3.18 3.19 3.14 3.25 3.14 3.18 15140000 48402960 METRO PAC INV 4.5 4.79 4.7 4.79 4.5 4.7 11000 50990 PACIFICA HLDG PRIME MEDIA 1.08 1.09 1.12 1.12 1.08 1.09 163000 177730 1.11 1.16 1.12 1.13 1.12 1.13 40000 45100 SOLID GROUP SYNERGY GRID 170 183 183 183 175 183 30 5410 1015 1018 992 1020 990 1015 787660 787741640 SM INVESTMENTS SAN MIGUEL CORP 132.6 133 132.7 134 132.6 133 81880 10936897 SOC RESOURCES 0.77 0.8 0.82 0.82 0.77 0.8 28000 21890 163.5 163.8 164.5 164.5 162.5 163.8 720 117752 TOP FRONTIER WELLEX INDUS 0.205 0.219 0.205 0.219 0.205 0.219 20000 4240 0.185 0.189 0.183 0.185 0.183 0.185 60000 11080 ZEUS HLDG

34100 -124212225 70522725 3700808 24800 105708 -19705883 23908965 5048107 -228360 -4464292 15968150 -32920 589704715 2875605 -18018 -

PROPERTY ARTHALAND CORP 0.78 0.79 0.78 0.79 0.78 0.78 334000 260640 ANCHOR LAND 8.77 9.64 9.64 9.64 8.77 9.64 300 2805 41 41.2 41.65 41.9 41 41 10334900 428461705 AYALA LAND BELLE CORP 1.61 1.62 1.61 1.64 1.6 1.61 667000 1077410 0.63 0.66 0.67 0.67 0.67 0.67 5000 3350 A BROWN CROWN EQUITIES 0.174 0.184 0.174 0.184 0.174 0.184 1040000 191060 CEBU HLDG 6.3 6.65 6.58 6.65 6.58 6.65 2300 15150 4.52 4.55 4.5 4.56 4.5 4.55 1543000 6946460 CEB LANDMASTERS CENTURY PROP 0.47 0.475 0.475 0.48 0.47 0.475 8490000 4012450 0.405 0.41 0.35 0.45 0.35 0.405 44260000 18407650 CYBER BAY DOUBLEDRAGON 18.86 18.92 18.5 18.94 18.5 18.92 190300 3585270 DM WENCESLAO 9.15 9.19 9.02 9.19 9.02 9.15 64400 587458 0.38 0.39 0.38 0.39 0.38 0.39 240000 91300 EMPIRE EAST FILINVEST LAND 1.42 1.43 1.42 1.44 1.42 1.42 9657000 13721370 1.09 1.11 1.08 1.1 1.08 1.1 40000 43980 GLOBAL ESTATE 8990 HLDG 14.7 14.72 14.7 14.74 14.7 14.72 814300 11980544 PHIL INFRADEV 1.01 1.02 1.01 1.03 1 1.02 1720000 1738880 0.76 0.78 0.77 0.79 0.77 0.78 106000 82180 CITY AND LAND MEGAWORLD 3.97 3.98 3.9 3.99 3.9 3.98 8397000 33218840 0.2 0.203 0.201 0.206 0.199 0.2 5230000 1051440 MRC ALLIED PHIL ESTATES 0.435 0.45 0.435 0.435 0.435 0.435 190000 82650 PRIMEX CORP 2.11 2.12 2.06 2.11 2.05 2.11 121000 252890 24.6 25 24.5 25.4 24.25 24.6 491400 12031685 ROBINSONS LAND PHIL REALTY 0.305 0.32 0.31 0.31 0.31 0.31 130000 40300 1.94 2.03 1.91 2 1.9 1.96 251000 483660 ROCKWELL SHANG PROP 3.03 3.14 3.07 3.13 3 3.13 203000 619190 STA LUCIA LAND 2.42 2.53 2.52 2.53 2.52 2.53 30000 75800 41.5 41.7 41.45 41.7 40.6 41.7 23900900 981128170 SM PRIME HLDG VISTAMALLS 5.02 5.2 5.03 5.2 5.01 5.2 122500 625458 1.61 1.62 1.74 1.76 1.61 1.61 9656000 15845600 SUNTRUST HOME VISTA LAND 6.89 6.9 6.89 6.95 6.75 6.9 8256800 56918460

44481525 23850 -5777990 4700 -158650 479150 -2825570 251904 1717270 201020 -3273025 31000 -382800 589633840 -46023562

SERVICES ABS CBN 17.3 17.48 17.14 17.48 16.86 17.48 337300 5820946 GMA NETWORK 5.39 5.4 5.45 5.45 5.39 5.4 533800 2884906 0.49 0.495 0.47 0.49 0.45 0.49 5170000 2418400 MANILA BULLETIN GLOBE TELECOM 1935 1936 1948 1968 1936 1936 9560 18553600 1018 1020 1019 1027 1006 1020 26625 27094010 PLDT APOLLO GLOBAL 0.047 0.048 0.048 0.049 0.047 0.048 5900000 278700 ISLAND INFO 0.101 0.105 0.099 0.106 0.093 0.104 4410000 442850 2 2.02 1.96 2.06 1.87 2 79420000 158026450 ISM COMM NOW CORP 2.14 2.15 2.11 2.4 2.11 2.15 9748000 21907080 0.237 0.238 0.238 0.239 0.236 0.238 2200000 522370 TRANSPACIFIC BR PHILWEB 3.32 3.33 3.3 3.32 3.2 3.32 1402000 4573750 2GO GROUP 8.85 8.9 8.9 8.9 8.65 8.85 5300 46990 4.45 4.46 4.43 4.53 4.41 4.45 890000 3954830 CHELSEA CEBU AIR 79.9 80.3 79.1 81 79.05 80.3 34040 2717982 116 118 119.3 122 116 116 1041220 121944773 INTL CONTAINER 10.98 11 11.7 12 10.86 11 9723400 109912554 MACROASIA METROALLIANCE A 1.18 1.24 1.25 1.25 1.14 1.24 530000 637340 1.16 1.2 1.39 1.39 1.2 1.2 10000 12840 METROALLIANCE B PAL HLDG 7.2 7.4 7.4 7.4 7.4 7.4 100 740 1.14 1.16 1.12 1.17 1.1 1.16 497000 571380 HARBOR STAR ACESITE HOTEL 1.36 1.41 1.33 1.41 1.33 1.36 55000 74530 BOULEVARD HLDG 0.046 0.048 0.045 0.052 0.045 0.046 33400000 1604000 9.6 12.98 13.44 13.44 13.44 13.44 100 1344 GRAND PLAZA WATERFRONT 0.54 0.55 0.54 0.56 0.54 0.54 181000 98210 6.52 6.69 6.73 6.73 6.73 6.73 300 2019 CENTRO ESCOLAR FAR EASTERN U 890 927 890 890 890 890 250 222500 STI HLDG 0.57 0.58 0.58 0.58 0.57 0.57 674000 385160 2.65 2.72 2.75 2.75 2.63 2.65 468000 1246890 BERJAYA BLOOMBERRY 8.7 8.71 8.66 8.91 8.6 8.71 2172600 18935132 1.98 2.04 2.06 2.06 1.98 2.04 57000 113330 PACIFIC ONLINE LEISURE AND RES 2.06 2.08 2.07 2.08 2.06 2.08 128000 264840 PH RESORTS GRP 4.4 4.59 4.4 4.4 4.4 4.4 11000 48400 0.52 0.53 0.55 0.55 0.52 0.52 14378000 7598130 PREMIUM LEISURE PHIL RACING 8.01 8.84 8.96 8.96 8.84 8.84 500 4466 9.89 9.96 10 10 9.71 9.96 1868700 18604347 ALLHOME METRO RETAIL 1.8 1.86 1.82 1.9 1.8 1.8 612000 1118220 PUREGOLD 38.25 38.5 38.2 38.45 38.2 38.25 3267400 125006665 71 73.4 72 73.9 71 71 88240 6278265.5 ROBINSONS RTL PHIL SEVEN CORP 144 145 145.4 145.4 144 144 1970 284922 2.21 2.25 2.25 2.25 2.2 2.21 402000 889840 SSI GROUP WILCON DEPOT 18.82 18.84 18.9 18.9 18.74 18.82 421800 7920386 APC GROUP 0.395 0.405 0.39 0.405 0.39 0.395 1450000 580000 7.11 7.38 7.39 7.6 6.97 7.4 17000 123320 EASYCALL GOLDEN BRIA 418.4 426 418 427.8 418 418.4 430 180200 0.305 0.31 0.315 0.32 0.31 0.31 3610000 1123950 PRMIERE HORIZON SBS PHIL CORP 8.66 8.98 8.98 8.98 8.98 8.98 900 8082

-4271610 6625320 13940 2032090 -101200 -180370 -17800 -222100 1350534.5 -66355613 573842 9400 521613 -59410 -206750 -540000 -500680 -168650 -20882205 -526818.5 125414 -51030 2437152 -

MINING & OIL ATOK 10.82 11.44 11.44 11.46 11.44 11.46 1100 12596 0.96 0.99 0.99 1 0.96 0.99 467000 457160 24480 APEX MINING ABRA MINING 0.0013 0.0014 0.0014 0.0014 0.0013 0.0014 237000000 325200 2.24 2.4 2.23 2.24 2.23 2.24 17000 37980 -15680 ATLAS MINING CENTURY PEAK 3 3.01 2.96 3.03 2.96 3 226000 680230 DIZON MINES 6.55 6.59 6.6 6.62 6.54 6.55 14300 93822 1.3 1.31 1.28 1.33 1.28 1.31 961000 1247130 -137590 FERRONICKEL GEOGRACE 0.198 0.207 0.197 0.207 0.197 0.206 130000 26610 0.093 0.094 0.093 0.094 0.093 0.094 2090000 195590 LEPANTO A LEPANTO B 0.093 0.094 0.091 0.094 0.091 0.093 1110000 101810 MANILA MINING A 0.0073 0.008 0.0075 0.0078 0.0075 0.0078 13000000 97800 0.72 0.75 0.72 0.78 0.72 0.77 32000 23150 MARCVENTURES NIHAO 0.99 1.01 1.01 1.01 1 1.01 3000 3020 2.57 2.58 2.53 2.59 2.52 2.58 771000 1967300 40960 NICKEL ASIA OMICO CORP 0.45 0.52 0.47 0.47 0.45 0.45 770000 350300 ORNTL PENINSULA 0.64 0.68 0.65 0.68 0.64 0.68 82000 54010 2.83 2.85 2.86 2.86 2.79 2.83 351000 990430 -109200 PX MINING SEMIRARA MINING 19.9 19.98 20.1 20.1 19.8 19.9 205300 4077246 294519.9999 6.83 6.85 6.99 6.99 6.83 6.85 114900 788372 -40548 ACE ENEXOR ORNTL PETROL A 0.0099 0.01 0.01 0.01 0.01 0.01 9000000 90000 ORNTL PETROL B 0.011 0.012 0.012 0.012 0.012 0.012 2500000 30000 30000 0.01 0.011 0.01 0.011 0.01 0.011 19900000 205000 PHILODRILL PXP ENERGY 7.77 7.8 8.35 8.4 7.6 7.8 2653400 20710141 -512998 PREFFERED HOUSE PREF A 96.55 99.9 99 99 96.4 96.4 7000 680684 100.1 104.7 100.1 100.1 100 100 10870 1087118 ALCO PREF B CPG PREF A 101 102 101 101 100.8 100.8 4000 403600 103.7 107.8 107.8 107.8 107.8 107.8 120 12936 FGEN PREF G GTCAP PREF A 990 999 990 990 990 990 790 782100 MWIDE PREF 99.95 100.5 100.2 100.5 100.2 100.5 9500 952254 106.8 109 109 109 109 109 100 10900 PNX PREF 3B PNX PREF 4 1050 1055 1050 1050 1050 1050 2730 2866500 1028 1040 1049 1050 1025 1040 9340 9620020 993950 PCOR PREF 3A PCOR PREF 3B 1063 1070 1063 1063 1063 1063 100 106300 SMC PREF 2C 77.5 77.6 78.2 78.2 77.5 77.6 61560 4772009 75 75.65 75.7 75.7 75.65 75.65 240 18162.5 SMC PREF 2D SMC PREF 2E 75.05 76 75.05 75.05 75.05 75.05 17000 1275850 76.5 76.65 76.5 76.5 76.5 76.5 30300 2317950 SMC PREF 2F SMC PREF 2H 76 76.25 76 76 76 76 20500 1558000 SMC PREF 2I 75.5 76 75.5 75.5 75.5 75.5 2850 215175 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 15.8 15.9 15.6 15.9 15.6 15.9 239100 3801370 -854130 5.3 5.31 5.21 5.32 5.21 5.32 45300 239849 -106000 GMA HLDG PDR WARRANTS LR WARRANT 1.12 1.15 1.13 1.17 1.13 1.17 90000 103180 SMALL & MEDIUM ENTERPRISES ITALPINAS 3.18 3.26 3.26 3.26 3.16 3.26 102000 326720 16300 9.63 9.83 9.8 9.92 9.61 9.63 169600 1639864 19250 KEPWEALTH XURPAS 0.79 0.8 0.78 0.8 0.78 0.79 643000 508800 EXHANGE TRADE FUNDS FIRST METRO ETF 110.3 112.1 110 110.7 109.7 110.3 4480 493649 -3294

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Phase 2 of road enhancement program for Cavitex ready in H1

By Lorenz S. Marasigan

@lorenzmarasigan

HE second phase of the P1.1billion road enhancement program for the Manila-Cavite Toll Expressway (Cavitex) is nearly complete and is set to open within the first half of 2020, a ranking official of Cavitex Infrastructure Corp. said on Monday.

Roberto Bontia, the president of the company, said the group is on track to complete the project by the second quarter of the year.

This project covers the construction of additional bridge lanes on the Paranaque, Wawa and Las Piñas bridges, effectively expanding

them to four lanes from three. “Upon completion of the second phase of this project by second quarter of 2020, we will be able to make more room for motorists plying Cavitex, especially now that our traffic volume has increased by nine percent since January 2019,” he said. Now that it is in full swing, Cavitex needs to deploy girder launchers to complete the project. As such, a 30-minute stop-and-go scheme will be implemented during off peak hours. “Our traffic management plans are in place, we will be deploying marshals in areas under construction. We thank our motorists for

their continued understanding and cooperation we are aware that this project will be a temporary inconvenience, rest assured when the works are over and the project completed, they will surely feel the ease of passage in Cavitex,” he said. Cavitex finished the first phase of the road widening program in December 2018. Bontia also encouraged motorists to “maximize the benefits of the road enhancements,” by switching to the electronic toll collection system for a faster pass through at toll plazas. Its native RFID system, Easytrip, is interoperable with other expressways in Luzon.

SEC suspends registration statement of BDO Leasing

HE Securities and Exchange Commission has suspended the registration statement as a listed company of BDO Leasing and Finance Inc. after learning its primary business will be changed with the sale of most of the company to a group led by Luis Yu. The SEC’s Markets and Securities Regulation Department has suspended the registration statement of BDO Leasing, which included its order of registration and the permit to sell securities, after finding that the information contained in the main document “has become materially incomplete and inaccurate.” “The MSRD particularly noted the disclosure of BDOLF that there would be a change in its primary business, from leasing and finance to a holding company, as a consequence of BDO Unibank’s sale of its controlling stake in BDOLF to a third party,” the regulator said. “The MSRD finds that the suspension of the RS is consistent with public interest and protection of investors as the RS is materially incomplete and inaccurate and, if left unchecked, would tend to work a fraud on investors,” it added. Shares of BDO Leasing were last

traded on January 24 and closed at P3.16 apiece. It went on voluntary trading suspension on January 27. BDO Unibank Inc., which owns a huge majority of the leasing firm, has decided to sell 88.54 percent of the company to a group led by Luis N. Yu, who is also one of the owners of mass housing firm 8990 Holdings Inc. Yu is buying 33 percent of BDO Leasing, while Vittorio P. Lim will buy 33 percent; Victor Y. Lim Jr. will acquire 4 percent and the remaining 18.54 percent will be by third-party buyers. The company already announced that it will change its articles of incorporation and by-laws to reflect the change in name and purpose of the firm from a leasing company to a holding company. According to the SEC, under Rule 14 of the 2015 implementing rules and regulations of the Securities Regulation Code, a company needs to file an amended registration statement if it had major changes in the primary business of the issuer, reorganization of the company and an increase in risk on the investment or on the securities covered by the registration. VG Cabuag

Eastern Communications sets bigger expansion in 2020 with P2.8-B capex

ASTERN Communications, one of the premier telecommunications companies in the country, is further expanding services to more areas, with ongoing network buildup in Luzon, Visayas, and Mindanao this 2020. The telecommunications company aims to be present in Davao, Cagayan De Oro, Iloilo, Bacolod, Tarlac, Cagayan Valley and La Union while targeting Cebu, Batangas, Laguna, Rizal, Cavite, Cebu, and Bulacan for its network expansion and modernization program. A total of P2.8-billion capital expenditure will be allotted as Eastern Communications envisions providing the Philippine businesses and households with innovative services and a faster, more reliable internet connection, a company statement said. The capex will go towards expanding its footprint and reach as well as the modernization of its existing network. “Eastern Communications has transformed in terms of the services we’re now offering to our customers and we have also expanded our footprint in other key areas in the Philippines. Our goal this year is to

go nationwide” said Atty. Aileen Regio, Co-Coordinator. This includes a focus on not only providing fast and reliable internet connections but also managed service-based products that complement its portfolio of telecommunications and ICT solutions. “With our unwavering customer service, Eastern Communications will continue to provide connectivity and ICT solutions to help our clients harness the full potential of digital transformation through achieving agile, secure, and flexible workplace,” said Hermi Hizon, Co-Coordinator For 2019, Eastern Communications reported revenue of P3.3 billion, up by 22 percent from 2018. The company attributed this growth to several factors such as network coverage expansion, increased sales in the small and medium-sized enterprises market, and new products. E a s t e r n C om mu n ic at ion s launched a variety of connectivity products and ICT solutions, which included their newly upgraded and most advanced Cloud Service and Cyber Defense as part of High-Tech promise to provide the best and right solutions to businesses.

mutual funds

February 17, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 236.19 -11.67% -2.35% -3.3% -6.23% ATRAM Alpha Opportunity Fund, Inc. -a 1.2394 -20.95% -3.88% -5.13% -10.32% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.3064 -20.67% -6.46% -6.03% -10.11% Climbs Share Capital Equity Investment Fund Corp. -a 0.8218 -12.86% n.a. n.a. -8.39% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7956 -9.08% n.a. n.a. -6.32% First Metro Save and Learn Equity Fund,Inc. -a 4.9928 -10.34% -0.95% -3.16% -6.3% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.7925 -10.53% -4.81% n.a. -7.16% MBG Equity Investment Fund, Inc. -a 95.57 -22.02% n.a. n.a. -7.51% PAMI Equity Index Fund, Inc. -a 47.6905 -9.15% -0.38% n.a. -7% Philam Strategic Growth Fund, Inc. -a 499.08 -8.81% -1.06% -2.85% -6.33% Philequity Alpha One Fund, Inc. -a,d,8 0.975 n.a. n.a. n.a. -5.35% Philequity Dividend Yield Fund, Inc. -a 1.2073 -8.63% -0.5% -1.87% -6.19% Philequity Fund, Inc. -a 35.4802 -8.84% 0.43% -1.68% -6.38% Philequity MSCI Philippine Index Fund, Inc. -a,1 0.9541 -8.44% n.a. n.a. -6.29% Philequity PSE Index Fund Inc. -a 4.8607 -8.32% -1.13% -6.95% 0.31% Philippine Stock Index Fund Corp. -a 811.51 -8.38% 0.25% -1.29% -6.95% Soldivo Strategic Growth Fund, Inc. -a 0.7697 -15.41% -3.31% -5.04% -9.6% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.8786 -10.19% -0.39% -2.06% -7.85% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9314 -8.64% 0.1% n.a. -6.93% United Fund, Inc. -a 3.4252 -7.69% 1.64% -0.32% -6.24% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 108.917 -8.03% 0.94% -0.36% -6.87% ATRAM AsiaPlus Equity Fund, Inc. -b $1.0147 2.3% 3.71% 0.15% -1.33% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4324 16.84% 9.63% n.a. 3.89% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5262 -11.74% -3.9% -4.92% -2.34% ATRAM Philippine Balanced Fund, Inc. -a 2.0791 -10.31% -3.06% -2.79% -4.68% First Metro Save and Learn Balanced Fund Inc. -a 2.5391 -4.39% 0.48% -2.8% -3.51% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2142 n.a. n.a. n.a. -6.26% NCM Mutual Fund of the Phils., Inc. -a 1.9179 0.19% 1.48% -0.29% -2.3% PAMI Horizon Fund, Inc. -a 3.6585 0.47% 0.38% -1.36% -3.45% Philam Fund, Inc. -a 16.3716 -0.68% 0.25% -1.43% -3.47% -0.14% -0.65% -3.26% Solidaritas Fund, Inc. -a 2.0566 -4.56% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6761 -3.99% 0.54% -1.22% -4.86% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 0.9801 -1.51% n.a. n.a. -3.5% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 0.9418 -5.01% n.a. n.a. -5.48% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.9356 -5.58% n.a. n.a. -5.8% Sun Life Prosperity Dynamic Fund, Inc. -a 0.9166 -5.24% -0.4% -2.6% -5.97% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03893 9.14% 3.37% 2.16% 1.83% 0.78% -0.2% PAMI Asia Balanced Fund, Inc. -a $1.0358 5.92% 3.84% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0268 12.89% 7.58% 4.28% 2.97% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1515 9.05% 4.51% n.a. 2.01% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 358.75 3.89% 2.7% 2.25% 0.27% ATRAM Corporate Bond Fund, Inc. -a 1.9078 2.51% 0.52% -0.56% 0.3% Cocolife Fixed Income Fund, Inc. -a 3.1355 4.87% 5.15% 5.16% 0.62% Ekklesia Mutual Fund Inc. -a 2.2355 4.16% 2.17% 1.84% 0.47% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.363 6.12% 2.16% 1.33% 0.17% Philam Bond Fund, Inc. -a 4.3871 12.02% 2.44% 1.53% 0.32% Philequity Peso Bond Fund, Inc. -a 3.7861 5.86% 2.83% 1.14% -0.06% Soldivo Bond Fund, Inc. -a 0.9702 6.6% 1.53% 0.18% 0.61% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0874 9.06% 4.14% 2.3% 0.37% Sun Life Prosperity GS Fund, Inc. -a 1.6987 7.97% 3.52% 1.65% -0.14% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $471.29 4.53% 2.73% 2.73% 0.66% ALFM Euro Bond Fund, Inc. -a Є220.87 3.04% 1.84% 1.31% 0.52% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2153 6.04% 3.13% 2.4% 0.67% 1.45% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 4% 1.36% 0.78% PAMI Global Bond Fund, Inc -a $1.1065 5.71% 1.47% -0.15% 1.03% Philam Dollar Bond Fund, Inc. -a $2.4475 10.29% 3.8% 2.95% 1.82% Philequity Dollar Income Fund Inc. -a $0.0607821 5.93% 2.33% 1.9% 0.78% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2523 11.24% 3.56% 2.85% 2.42% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 126.35 3.87% 2.93% 2.23% 0.45% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.0311 2.94% n.a. n.a. 0.47% Philam Managed Income Fund, Inc. -a 1.2555 5.88% 3.03% 1.66% -0.1% Sun Life Prosperity Money Market Fund, Inc. -a 1.2695 3.65% 2.93% 2.44% 0.39% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0396 2.03% n.a. n.a. 0.23% 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."

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Banking&Finance BusinessMirror

₧2.4-T flagship projects to start soon

By Cai U. Ordinario

@caiordinario

HE construction of 44 flagship projects worth a total of P2.4 trillion will start in six to eight months, bolstering the expectations of the economic team that infrastructure spending will drive growth this year. Apart from the projects that will begin construction this year, the Bases Conversion and Development Authority (BCDA) said 34 projects worth P631.69 billion are currently ongoing. “Coordination continues, it’s all about government agencies working together, implementing agencies, primarily Department of Public Works and Highways, Department of Transportation working with other agencies especially for relocation and resettlement which is really NHA,” BCDA President and CEO Vivencio B. Dizon told reporters on Monday. The BCDA, in its presentation at

the House of Representatives (HOR), said that 22 projects worth P666.39 billion are already in the advanced stages of government approval and feasibility studies. This is composed of 15 projects worth P479 billion, undergoing advanced stages of government approval; and seven projects worth P187.39 billion in advanced stages of feasibility studies. Dizon said the Duterte administration intends to complete 56 of the 100 flagship projects worth P1.17 trillion this year until 2022. This is composed of 13 projects worth P131.83 billion to be completed

this year; 16 projects worth P230.86 billion up for completion next year; and 27 projects worth P803.82 billion in 2022. “The annual budgetary requirements of the flagship projects shall be firmed up by the implementing agencies as next steps,” Dizon noted in his presentation. With the 100 flagship projects, Dizon said the Duterte administration raised the average annual spending of the government for infrastructure projects to 6 percent of GDP or P1.04 trillion between 2017 and 2018. This is the highest compared to the previous four administrations. The Ramos administration spent the least at 1.7 percent of GDP or P3.9 billion annually between 1993 and 1998. BCDA data obtained from the Department of Budget and Management (DBM) showed the Estrada administration spent 1.8 percent of GDP or P60.1 billion annually between 1999 and 2000. The Arroyo administration spent 1.6 percent of GDP or P100.3 billion annually between 2001 and 2010 while the Aquino administration spent 3 percent of GDP worth P380

Common scams that online freelancers should watch out for and how to avoid them

re you new to the online freelancing world? If so, then you should know that not everyone can be trusted online. You can search Google for “Freelancer scam,” “Upwork scam,” “writer scam,” “work-from-home scam” and other similar terms, and you’ll find hundreds of articles. Some schemes will be obvious but others can be quite clever and complicated. And, before you know it, they’ve already gotten away with not paying you for the work you’ve done. Here are the most common scams that online freelancers like you should watch out for, and how to avoid them. 1. Asking for a unique sample work. An online job is posted with a big budget. For example, they need a hundred articles and will pay $5,000. However, if you want to apply, you are required to submit a unique sample of your work. After you submit your article, they’ll apologetically turn down your application. Perhaps say that they’ve already chosen someone else for the job. But of course, that’s not true and they just got themselves a free article from you and all the others who applied. How to avoid: Never give a unique sample work. Instead, show them some of the previous work you’ve done. That’s always more than enough for them to see if you’re a good fit for the job. 2. Low starting pay with a promise of a raise. An online job is posted with a horribly low budget. For example, 20 articles for only $25. However, the listing also says that if they like the quality of your work, then they can give you a higher pay for the next batch of articles. Just like the previous scam, you won’t be hearing again from them after you finish the job. And they just got themselves several hundred incredibly cheap articles from everyone who took the job. How to avoid: Never bid on and accept work that’s way below your normal rate. Know your worth and value the work you produce as a freelancer.

billion annually between 2011 and 2016. Meanwhile, the BCDA said the Duterte administration has completed 10 flagship projects such as the NLEX Harbor Link; Governor Miranda Bridge connecting Davao City and Tagum; and Laguna Lake Highway which serves as an alternative to Edsa and C-5 Road. The list includes the Pigalo bridge in Isabela; TPLEx-Pozorrubio which reduced travel time between Tarlac City and Rosario, La Union; Bohol-Panglao International Airport which can accommodate 2 million passengers annually; and the Cagayan de Oro Port Passenger Terminal Building, the country’s biggest port to date. BCDA also reported the completed projects included the Cavite Gateway Terminal which is the country’’s first barge terminal; Communications, Navigation, Surveillance/ Air Traffic Management System which minimizes flight delays and improves overall travel experience; and New Clark City Phase 1A, which is part of the new metropolis the country is building. BCDA explained that the criteria

for inclusion in the Flagship program includes urgency, which addresses a current problem or concern. Projects in the flagship program also have national or regional significance and benefits more people in a wider area and has a game-changing nature in terms of the impact on people’s lives and the conduct of business in the country. Last week, Socioeconomic Planning Secretary Ernesto M. Pernia told reporters the economy still had a “fighting chance” to ensure that growth will still be around 6 percent in the January to March period. Pernia said apart from domestic tourism, infrastructure will also play a key role in boosting economic growth, thanks to the recent approval and signing of the 2020 national budget. He said many projects are taking off the ground, and government spending will increase. Pernia said the government has already approved 72 of the 100 flagship projects. This means, Pernia said, there are only about 25 projects remaining projects that need approval. Other projects, he said, do not require Neda Board approval.

BOC donates truckloads of relief goods for Taal through Red Cross

which shouldn’t be a problem if they’re a legitimate business.

Fitz Gerard Villafuerte

personal finance 3. Membership fee required. An online jobs marketplace claims that they have several clients looking for freelancers. However, to access the marketplace and get projects, you need to pay a membership fee. After paying, you’ll see that the marketplace isn’t as big as advertised. Most of the listings are actually low-paying jobs. You might get a few projects, but it’s never as profitable as you will want it to be. How to avoid: Never pay to work. That’s simply absurd if you need to give someone money so you can work for them. 4. Revenue share model. A web site is looking for writers who can produce and publish content for them. They promise to pay you a portion of the revenue they get from advertisers. You apply and get accepted. However, after writing several articles, you notice that your income is grossly cheap. You stop writing for them, not knowing that they’ve earned more than what they declared to you. How to avoid: Never agree on a revenue share model for new or low traffic websites. Instead, look for websites that already have a huge audience, and with writers who can attest and are satisfied with the profits they’re receiving from the web site. 5. Personal information needed. An online job is willing to pay a portion of your fee up-front. But they can only pay through a direct bank transfer or a payment towards your credit card. Thus, they’re asking for a little too much personal information from you. This employer could be an identity thief, who is looking to empty the bank account or steal credit card information from careless online freelancers. How to avoid: Use an online payment solution that’s more secure and reliable. If they refuse to, then ask for a check payment,

6. Direct contact arrangement. You applied for an online job that’s posted in a marketplace. The employer then asks for your email address or contact number, so they can take the work outside the marketplace, work directly with you, and avoid transaction fees. You agreed and they’ll seem sincere during the work process. However, after you submit your work, they’ll disappear without a trace and without paying you. How to avoid: When working directly with clients, ask for payment up-front and use online services that offer escrow services or similar payment protection features for freelancers. 7. Need to purchase software or equipment. You get accepted for an online job. However, the employer is requiring you to use a peculiar and expensive software or equipment that you don’t have. They’ll try to convince you that the purchase is worth it because that means they can give you more work after the current project. Of course, that will never happen, and you end up with an almost useless software or piece of equipment, which your employer probably just wanted to sell to you. How to avoid: Before accepting any online job, clarify with the employer the requirements and their expectations. More than the output specifications, you can also get their agreement on how you’ll do the job, including software you’ll use and the file type you’ll submit.

Final tip

Always remember that common sense and good communication can help you avoid misunderstandings with clients; and staying vigilant and aware of these common scams can help you avoid them. 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, email info@rfp.ph or text <name><e-mail> <RFP> at 0917-9689774.

HE Bureau of Customs donated to the Philippine Red Cross (PRC) two truckloads of assorted items for the families affected by Taal Volcano’s eruption last month, the BOC said in a statement. Senator Richard J. Gordon accepted last Thursday the donation composed of various food and nonfood relief items, gathered by the BoC from their relief operation drive. “We thank you for your patriotism, your dedication to service and the caring for your fellow Filipinos that you displayed in coming up with this donation,” Gordon, who is also PRC chairman and CEO, told the BOC officials and personnel, led by

Customs Officer Carmelita Talusan, head of the BOC-Ninoy Aquino International Airport unit, who delivered the donations. For her part, Talusan said they chose the PRC for their donation because they know that donations coursed through the organization really reach the target recipients. “We want to help our compatriots displaced by Taal Volcano’s eruption; that’s why we launched a relief operation drive in the BOC,” Talusan said adding they chose the PRC because the organization knows “the areas that need these items the most.” “We don’t. The Red Cross will know where to distribute these donations,” she added.

Tuesday, February 18, 2020 B3

Metrobank participates in CLS Settlement service–CLS

LS Group Holdings AG, a market infrastructure delivering settlement, processing and data solutions, announced on February 17 that Metropolitan Bank & Trust Co. (Metrobank) is the first Philippine bank to access CLSSettlement as a third-party participant. UBS, a CLSSettlement member, will provide access to Metrobank, the company said. “The addition of Metrobank is testament to the significant increase in third-party participation in CLSSettlement throughout the region,” a statement by CLS read. The company said Metrobank’s participation “has been driven by a number of factors.” Since 2018, the overall number of Asia Pacific third parties (regional/ third-party banks, funds, corporates and non-bank financial institutions) participating in the settlement service increased by 15 percent while respective average daily gross values settled increased by 17 percent, the company said. In that same time period, the average daily gross values settled by third-party banks in the region also increased by 16 percent, it added. Margaret Law, Head of CLS Asia Pacific Client Management, said the company was “thrilled that Metrobank has chosen to use CLS’s settlement service.” “With the growth of FX [foreign exchange] trading in many Asian currencies, the issue of settlement risk has become an increasing concern and it is essential that all market participants, buy side or sell side, implement appropriate FX risk mitigation services such as CLSSettlement,” Law added. Paul Robert Y. Murga, Metrobank Operations Group Head, was quoted in the statement as saying that their participation in CLSSettlement will enable Metrobank “to mitigate settlement risk and reduce operational costs related to FX trading.” “Ultimately, CLS creates opportunities for us to expand our business by having access to a wider pool of counterparties.” Christian Stolcke, Global Head of Banks at UBS, was quoted in the same statement as saying. “We are delighted to provide Metrobank access to CLSSettlement. Wider participation in the service will help to build a more robust global FX market through the mitigation of FX settlement risk.” Stolcke added that “in times of increasing intraday funding and liquidity cost, CLS brings considerable reduction of liquidity consumption through its netting effect.”

Tour operator taps fintech for installment payment

ransnational eGlobal Inc. (TeGI) announced on February 17 it has tapped First Digital Finance Corp. (FDFC) a financial technology company powering the installment payment platform BillEase, to allow its customers to pay for flights over time. “This new feature gives customers greater access to local and international travel by offering them a quick and simple way to book and pay later,” TeGi, the travel company behind the Philippines’s airline booking platform tripmoba.com, said in a statement. “Traveling can be expensive whether you’re traveling locally or across the world,” TeGI President Carlo M. Severino, was quoted in a statement as saying. “As a booking platform for new generations of travelers, we are pleased that our partnership with BillEase will give our customers a simple payment option to make booking airline tickets more affordable”. A trip to an exciting destination in Southeast Asia or island in the Philippines could be a dream vacation, but the upfront cost is a major concern especially for Filipino travelers, according to Severino. With this new payment solution,

customers will have the flexibility to choose how and when they want to pay, tailor their travel budget and ultimately enjoy their dream vacation, he added. Customers can apply for credit at checkout and pay through BillEase, he said. BillEase will enable users with no bank accounts or credit card to book domestic and international flights on monthly installments and repay them over a period of three months, six months or 12 months, with interest rate between 0 percent to 2.49 percent. “Together with [TeGI’s app], we see a huge opportunity to empower Filipino travelers by offering flexibility that reduces the anxiety related to paying everything in advance,” FDFC Co-Founder and

CEO Georg Steiger was quoted in the statement as saying. “Millennial and Gen Z travelers seek awesome experiences and we want to ensure that their payment journey is also a great experience.” Founded in 2015, Manila-based FDFC provides financing and payment processing services to merchants across online and mobile channels in the Philippines. The company is the first to launch this service with Lazada in 2017 and has processed hundreds of thousands of payments on the platform. With its digital credit-card service, the company is addressing what it calls “massive credit gap” in the Philippines, where it aims to potentially reach millions of Filipinos outside the traditional banking system.

Tuesday, February 18, 2020

The World BusinessMirror

www.businessmirror.com.ph

Beijing seen delaying high-profile parliament session over virus fears

hina is considering delaying its most high-profile annual political meeting for the first time in decades, as the government attempts to contain an outbreak of a deadly new strain of coronavirus. The Standing Committee of the National People’s Congress will meet February 24 to consider a delay of the annual meeting of the full parliament planned to convene March 5, the official Xinhua News Agency said on Monday. The Standing Committee will also consider measures to curb practices that may have contributed to the deadly strain of virus jump to humans, including a ban on the wildlife trade and the consumption of wild game. Some 3,000 members of China’s rubber-stamp parliament, the National People’s Congress, were expected to convene in Beijing for about two weeks of meetings attended by President Xi Jinping and other top leaders. The annual political pageant also includes meetings by the Chinese People’s Political Consultative Conference, an advisory body made up of around 2,000 representatives from companies, ethnic minorities, cultural organizations and other groups.

While the decision was widely expected, it represented an acknowledgment by the Communist Party that the health crisis that began in the central province of Hubei had disrupted basic mechanisms of government. China has held its so-called Two Sessions in the first week of March every year since 1985, when then-paramount leader Deng Xiaoping formalized the legislative calendar as part of his reforms after Mao Zedong’s turbulent rule. China unveils its annual economic targets, defense spending projections and other key policy decisions during the NPC meetings. The party has also used the occasion to announce major policy changes and personnel reshuff les, like Xi ’s 2018 decision to scrap term limits, which paved the way for him to rule indefinitely. Still, officials faced the risk that some attendees could unintentionally transmit a virus that has already sickened more than

Taiwan scours dead taxi driver’s data to trace coronavirus path

No one wants to be stuck on the next virus-hit cruise

ealth authorities in Taiwan are scouring travel histories, phone records and security camera footage in an effort to map out everyone who came into contact with a taxi driver who became Taiwan’s first confirmed death from the coronavirus. The victim, a man in his 60s from central Taiwan who died on Saturday, had not recently traveled overseas and had no recorded contact with any of the 19 other people diagnosed with the coronavirus in Taiwan, according to a statement from Taiwan’s Centers for Disease Control. Authorities are trying to identify everyone who came into contact with the taxi driver in the days and weeks leading up to his hospitalization on Feb. 3. Officials are looking through his travel logs while working, his telephone records and security camera footage showing passengers he picked up, according to a report by Taipei-based Central News Agency. Taiwan has 20 confirmed cases of the virus so far. The death was the fifth outside of mainland China. Other fatalities have occurred in Japan, Hong Kong, France and the Philippines. The coronavirus outbreak presents a unique challenge for Taiwan’s government. Around 400,000 Taiwanese citizens work in China, many of whom traveled back to Taiwan for the Lunar New Year holiday in late January and stayed as the outbreak worsened. Compounding the difficulty is China’s refusal to communicate direc tly with President Tsai Ing-wen’s administration, and its insistence that Taiwan be excluded from international bodies such as the World Health Organization. Beijing views Taiwan as part of Chinese territory, a claim Taiwan’s government rejects. All residents of mainland China, Hong Kong and Macau have been barred from traveling to Taiwan. Tsai’s administration has also halted all flights to China, except for those to and from the Chinese cities of Beijing, Shanghai, Xiamen and Chengdu. Bloomberg News

In this Sunday, February 16, 2020, photo, medical workers move a person who died from COVID-19 at a hospital in Wuhan in central China’s Hubei province. The COVID-19 has already sickened more than 70,000 and killed almost 1,800 in China. Chinatopix via AP

70,000 and killed almost 1,800 in China. And gathering political leaders at great expense in the capital while many Chinese remain cooped at home could also prompt public criticism. The municipal government of Beijing has instituted rules requiring 14-day self-quarantines for new arrivals in the capital, meaning deputies would ’ve had to arrive by this week to attend the meeting without a special exception. A lthough the NPC is China’s legal parliament, the

party ensures that important decisions are made long before proposals reach the f loor. Xi has ordered “all-out” efforts to contain the crisis, which has already proved more deadly than the SARS epidemic that killed almost 800 people across Asia 17 years ago and led to widespread criticism of China’s response. Beijing has taken unprecedented steps to slow the latest outbreak, including banning travel from the hardesthit areas in central China. On February 13, China abruptly

dgar Chan, a 28-yearold software engineer from Hong Kong, was among the thousands quarantined on the World Dream cruise ship off the city this month after passengers on an earlier cruise tested positive for the lethal new coronavirus. He won’t be taking another vacation at sea any time soon. Being stuck on what local media called the “zombie ship” was annoying, and worrying about getting sick was frightening. “Getting a cold on a cruise is normal, but getting a virus, a highly infectious disease, is horrible.” The cruise industry’s fear is that Chan is far, far from alone. A sia— Chinese travelers in particular—was supposed to be a great growth market. But across the region, cruise line operators have had to cancel departures and in some cases keep guests on board, often without ports willing to let them disembark. Coverage of passengers being quarantined on ships such as the World Dream, run by Genting Hong Kong Ltd., and Carnival Corp.’s Diamond Princess have been broadcast around the globe, creating a public relations disaster. Another Carnival boat, the Westerdam, was rejected by multiple ports before being accepted by Cambodia on suspicion there could be a virus case on board. “This is terrible for the cruise industry,” said Christopher Muller, a professor at Boston University’s School of Hospitality Administration. “In the new markets of Asia, the rebound will take longer since the overall market is not as mature and built up.” Royal Caribbean Cruises Ltd., the industr y’s second-big gest player, said on Thursday that it had canceled 18 sailings in Southeast Asia, and if it’s forced to eliminate all its excursions

The passengers wait on the World Dream cruise ship at Kai Tak Terminal in Hong Kong, China, on Wednesday. Paul Yeung/Bloomberg

there through April, it could cost the company $1.20 per share in earnings this year. The comments echoed those of Carnival, its bigger rival, which said on Wednesday that its earnings this year could fall as much as 65 cents per share, under similar circumstances. Carnival had about 4 percent of its capacity in China in 2019—and was hoping that would grow to 5 percent in 2020, according to a public filing. On Sunday, Hong Kong authorities allowed the 3,600 passengers to disembark the World Dream, while on the Diamond Princess, which is idling in Yokohama harbor, Japanese authorities have diagnosed 218 cases of the virus, including 44 new cases on Thursday. About 3,500 people are being kept in quarantine aboard the cruise liner, and health authorities are set to let high-risk passengers who test negative off the ship.

Fears grow of virus being passed around quarantined Japan Cruise

Estimating the potential impact to company earnings at this point is nearly impossible and that won’t change until the coronavirus outbreak is over and media coverage

of the industry’s troubles ends, Instinet analyst Harry Curtis told his clients this week. Making matters worse for the industry, the crisis is coming during the “wave” season, which is when cruise lines see most of their bookings for the coming year.

Wait and see

“It is a bit early to prophesize about long-term impacts,” said Ross Klein, a professor who has done extensive research on crime, viruses and other bad things that happen on cruise ships. “We can only watch to see how deep the problems go and how the industry is effected in the short term.” Just a few years ago, cruise line operators with long-established customer bases in the US and Europe began targeting Asia and its growing ranks of middle class consumers. The number of ships in the region rose to 79 last year from 43 six years earlier, according to the Cruise Lines International Association. Passenger capacity in Asia topped 4 million in 2019, the trade group said. That was up from 1.51 million passengers in 2013. The Chinese market has proved tough to crack, however. Last year,

replaced the top leaders of Hubei and its capital Wuhan. Shanghai Mayor Ying Yong was named to replace Jiang Chaoliang as provincial party secretary, in a rare political shakeup. A flurry of municipal legislatures across China had delayed their annual meetings in recent weeks, including the cities of Jinan, Qingdao, Wenzhou and Zhengzhou. The provinces of Sichuan and Yunnan also postponed their legislative meetings. Bloomberg News

Norwegian Cruise Line Holdings Ltd. moved its ship, the Norwegian Joy, from China to Alaska. The vessel had been designed specifically for the Chinese market, with tea rooms and other amenities appealing to Asian guests, but they didn’t turn out in the numbers that Norwegian had anticipated. Cr uising has sur v ived bad publicity in the past, including the wrecking of Carnival ’s Costa Concordia in 2012, which killed 32, and an engine fire aboard the Carnival Triumph the following year, which left passengers stranded at sea without plumbing while millions at home watched what cable T V news dubbed the “poop cruise.” Passenger volumes continued to rise in spite of it all, with the industry welcoming a record 30 million guests worldwide last year. The industry will likely take a financial hit only from the canceled sailings and depressed bookings in Southeast Asia, said Stewart Chiron, a cruise industry commentator and travel agent. “Other destinations are sailing full,” he said in an e-mail from the Regal Princess ship in Jamaica. Given the newness of the Chinese market, that’s where the impact could be most severe. Ingrid Leung, owner of Incruising Travel Asia Ltd., has specialized in booking cruises for people in Hong Kong and Macau since 2008. She usually sees just a handful of cancellations in a year, because most people go to great lengths to plan and pay for trips. But she said she has had 10 cancellations just this past month. “That’s very, very unusual for us.” Bookings for sailings in the spring and summer have also taken a hit. “I was hoping to expand in 2020,” Leung said. “But it’s not going to happen now.” Bloomberg News

Japanese economy sinks amid fears about virus impact

O K YO —T h e Ja p a n e s e economy shrank at an annual pace of 6.3 percent last quarter as growth was battered by typhoons and crimped consumer spending. The seasonally adjusted economic data released on Monday by the Cabinet Office comes amid looming fears about the economic damage expected from the new viral illness COVID-19 that began in China late last year. Japan’s gross domestic product, or GDP, the sum of the value of a nation’s products and ser vices, slipped 1.6 percent in the last three months of 2019 quarter-on-quarter. The annualized rate shows what the drop would have been if that same pace had continued for a year. The contraction for the October-December period was the first Japan had in more than a year. The amount of decline was the worst in about five years. The news sent the Nikkei 225 benchmark stock index falling in trading on Monday. Domestic demand fell in the quarter at an annual pace of 8.0 percent. Hurting people’s spending was the rise in the consumption tax from 8 percent to 10 percent in October. Both exports and imports fell during the quarter. The new viral illness is likely to affect various aspects of the economy. Japan had been counting on Chinese tourists in recent years to sustain growth, but visits have dwindled to a trickle. Japanese companies have halted or adjusted production, because of supply chain disruptions or work suspensions at their own factories in China. Overall consumption is likely to drop as people avoid crowds. “The concerns for the export focused economy is continued pressure amid the coronavirus,” said Jingyi Pan, market strategist at IG in Singapore of Japan’s GDP. AP

Thailand cuts growth forecast as coronavirus hits tourism

h a i l a n d lowered its growth outlook for this year as its tourismreliant economy takes a knock from the spread of the coronavirus. Growth is seen in a range of 1.5 percent-2.5 percent this year, down from a previous projection of 2.7 percent-3.7 percent, the National Economic and Social Development Council said on Monday. Gross domestic product grew 2.4 percent in 2019, the slowest pace in five years. The economy was already under strain before the coronavirus began spreading early this year, with growth weighed down by budget delays, drought and a relatively strong currency. GDP rose 1.6 percent in the fourth quarter from a year ago, lower than the 1.9 percent median estimate in a Bloomberg sur vey and down from a revised 2.6 percent in the third quarter. First- quar ter economic growth should be significantly impacted by the virus outbreak, and improve i n t h e s e c o n d q u a r t e r, T h o s a p o r n Sirisumphand, the secretary general of the council, said in a briefing in Bangkok. Travel curbs on Chinese visitors, the biggest source of tourism revenue in Thailand, are likely to take a hit, as tourism makes up about a fifth of GDP in the country. The Bank of Thailand earlier this month cut its key interest rate to a new record low to support the economy, while the government is considering more measures to spur domestic tourism and consumption. Bloomberg News

The World BusinessMirror

Editor: Angel R. Calso

EU split over naval mission amid Libya arms embargo concerns

RUSSELS—A number of European Union countries are blocking a decision to resume a naval operation in the Mediterranean Sea over concerns that it might encourage migrants to set out from the Libyan coast in search of better lives in Europe, the EU’s top diplomat said on Monday. The naval mission, Operation Sophia, was launched in 2015 amid a wave of irregular migration from North Africa to Europe. The aim was to crack down on migrant smugglers and enforce a UN arms embargo on Libya. But tension over how to distribute migrants picked up in the sea among EU member-states, and claims that the naval presence might encourage smugglers, led Italy to block the deployment of further ships last year. It currently functions almost exclusively using aircraft and pilot-less drones. Austria too is opposing the return of warships. “There are people who believe that more assessment has to be done to be sure that it’s not going to produce a pull effect,” EU foreign policy chief Josep Borrell told reporters in Brussels as he arrived to chair a meeting of the bloc’s foreign ministers. “My analysis of the figures, the data, I am not convinced of that. But some believe it,” Borrell said. He did not name the countries concerned, but he cast doubt over whether the issue would be resolved this month, despite increasing international calls for help in ensuring that the arms embargo on Libya is respected. Libya has been in tur moil since 2011, when a civil war toppled long-time d ictator Moammar Gad haf i, who was later killed. The arms embargo is routinely f louted.

A weak UN-recognized administration that now holds the capital of Tripoli and parts of the country’s west is backed by Turkey, which recently sent thousands of soldiers to Libya, and to a lesser degree Qatar and Italy, as well as local militias. On the other side is a rival government in the east that supports self-styled Gen. Khalifa Hifter, whose forces launched an offensive to capture Tripoli last April. They are backed by the United Arab Emirates, Egy pt, France and Russia. Borrell said “the situation on the ground is very, very bad.” Ahead of Monday’s talks, Borrell’s services circulated a memo suggesting that Sophia should be renamed “Operation EU Active Surveillance.” It urged member countries to agree on whether gathering information on, and upholding, the UN embargo should become the naval mission’s “core task.” Monitoring people smuggling would be relegated to a “supporting task” carried out from the air. The memo warned that “we run the risk that, short of concrete action, the EU will become irrelevant and others will continue to determine the development of events in Libya in ways that will not respond to our interests.” Luxembourg Foreign Minister Jean Asselborn said that the German-led political process “is not worth much if there is no control over the arms embargo and the troops that move around in Libya. That’s why we have to watch the sea. It’s a European obligation.” Asselborn took aim in particular at Austria, which is also blocking the naval mission, saying: “it’s too much, to abandon or break with our consensus just to avoid having to save a few people.” AP

Iran’s President Hassan Rouhani gives a press conference in Tehran, Iran, on Sunday. AP/Ebrahim Noroozi

Iran’s president: Trump doesn’t want war ahead of 2020 election

EHR A N, Ira n—Ira ni a n President Hassan Rouhani said on Sunday that he doesn’t believe the US will pursue war with his country, because it will harm President Donald J. Trump’s 2020 reelection bid. Rouhani said that Trump knows that war with Iran will “ruin” his chances of winning the 2020 US presidential election. The Iranian leader added that war would be harmful to US interests and those of its regional allies, as well as Iran. “I think the Americans aren’t after war since they know what harm it could do them,” said Rouhani in a news conference. He said that Persian Gulf nations like the United Arab Emirates, Bahrain and Qatar stood a lot to lose if conflict between Iran and the US turns to war. Tehran and Washington came close to an open conflict in January, when a US drone strike killed Iran’s top general, Qasem Soleimani, outside Baghdad. Iran retaliated with missile strikes on a base housing US troops in Iraq. Tensions have been escalating steadily since Trump pulled the US out of Tehran’s 2015 nuclear deal with world powers, and reimposed

crippling sanctions on Iran. Rouhani reiterated that the US should rejoin the nuclear deal if it wants to return to negotiations. “We will finally get the enemy to sit at the negotiating table some day, like before,” said Rouhani, referring to the US. Rouhani also encouraged Iranians to turn out in large numbers for parliamentary elections on Friday, as a show of defiance against the US. “Americans will not be happy with a high-turnout,” he said. “Surely they will be happy with a low-turnout election.” Ira n’s pa rl i a ment a r y elections are seen as a test of the popularity of Rouhani ’s relatively moderate and pro-reform bloc led. His government, however, has mostly struggled to deliver on campaign promises to i mprove people’s l ives a s Iran’s economy buckles under the weight of US sanctions. Iranian authorities have also barred thousands of parliamentary candidates from running, mainly reformists and moderates. F r i d a y ’s e l e c t i o n s c o u l d st reng t hen t he ha nd of Ira nia n ha rd-l iners, who c ha mpion conf ront ing t he West. AP

Tuesday, February 18, 2020

GM to pull out of Australia, New Zealand and Thailand

ETROIT—General Motors says it’s pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don’t produce adequate returns on investments.

The company said in a statement on Sunday that it will wind down sales, engineering and design operations for its historic Holden brand in Australia and New Zealand in 2021. It also plans to sell its Rayong factory in Thailand to China’s Great Wall Motors and withdraw the Chevrolet brand from Thailand by the end of this year. GM has 828 employees in Australia and New Zealand and another 1,500 in Thailand, the company said.

CEO Mary Barra says the company wants to focus on markets where it can drive strong returns. She says GM will support its employees and customers in the transition. The company said it will scale back operations in all three countries to selling niche specialty vehicles. It also will make the same move in Japan, Russia and Europe, where “we don’t have significant scale.” “We are pursuing a niche presence by selling profitable high-

end imported vehicles supported by a lean GM structure,” International Operations Senior Vice President Julian Blissett said in the statement. GM sa id it w i l l honor a l l w a r r a nt i e s i n t h e m a r k e t s , a nd it w i l l cont inue to prov ide ser v ice and par ts. Loca l operat ions a lso w i l l ha nd le reca l ls a nd a ny sa fet y-rel ated issues, t he compa ny sa id. The Detroit automaker expects to take $1.1 billion worth of cash and noncash charges this year as it cuts operations in the three countries. GM has a long history in Australia with the Holden brand, where cars were designed and sold in the US and other markets. The 2008 and 2009 Pontiac G8 muscle car, for instance, was designed as a Holden Commodore and built in Australia. But GM said Holden’s market share, which was nearly 22 percent

in 2002, fell to just over 4 percent last year. GM President Mark Reuss, who once ran the Australian operations, said the company explored options to continue Holden, “but none could overcome the challenges of the investments needed for the highly fragmented righthand-drive market, the economics to support growing the brand, and delivering an appropriate return on investment,” he said in the statement. The company also said it analyzed the business case for future production at the Rayong plant Thailand, but low use of the plant and expected low sales volumes “made continued GM production at the site unsustainable.” GM has struggled in Asia in the past year. It’s International Operations, which include China, lost $200 million last year, including $100 million in the fourth quarter. AP

Assad’s forces make advances, further securing Aleppo region

AMASCUS, Syria—Syrian troops have made significant advances against the last rebel held enclaves in the country’s northwest, state media said on Sunday, consolidating the government’s hold over the key Aleppo province. The Syrian government advance also appeared to put the provincial capital of Aleppo out of the firing range of opposition groups for the first time in years, another sign of Syrian President Bashar Assad’s growing control of the area. The armed opposition had been driven out of Aleppo city’s eastern quarters in late 2016, which they controlled for years while battling government forces who were in charge in the western part. Rebel groups had continued to harry government forces, however, from outside the city with mortar rounds. State news agency SANA reported 30 villages and towns around the city in the western Aleppo countryside were captured on Sunday. Rami Abdul-Rahman, the head of the Britain-based war monitor Syria Observatory for Human Rights, confirmed the report. The state-run A l-Ikhbariya TV said government troops were still besieging remnants of opposition fighters in a small part of rural western A leppo. A lso, parts of northern A leppo re-

In this photo released by the Syrian official news agency SANA, Syrian President Bashar Assad (right), speaks to Iran’s Parliament Speaker Ali Larijani in Damascus, Syria, on Sunday. SANA via AP

gion, which straddles the border with Turkey, is administered by Turkey and allied Syrian factions. Another segment of the province further west is controlled by Kurdish-led forces, allied with the United States. Both parts have not been part of the government offensive. The fighting in the Aleppo region and nearby Idlib province has unleashed a humanitarian crisis. Over 800,000 civilians out of nearly 4 million living in the enclave have been displaced, living in open fields and temporary shelters for the most part in harsh winter conditions. The armed opposition is now squeezed into a shrinking area

of nearby Idlib province, where the government is also on the offensive. “The Syrian people are determined to liberate all Syrian territories,” President Assad said according to the Syrian state news agency on Sunday. Assad was speaking during a meeting with visiting Iranian parliamentary speaker Ali Larijani. Both Iran and Russia have heavily backed Assad in the civil war. The Syrian leader also claimed “terrorists” in northwestern Syria were using residents as “human shields,” in an attempt to stop Syrian troops from advancing into the territory. Syria’s government considers

all the opposition in the nine-year war as “terrorists” and has repeatedly leveled accusation that they take residents of areas they control as hostages. But many of the displaced in Syria’s Idlib province have fled the fighting in other parts of the country, choosing to live in areas outside of government control. Turkey has sent thousands of troops and equipment into the opposition enclave, in an attempt to stall the government advance. Turkey, which backs the opposition, has called for an end to the Syrian government offensive. It also fears that the displaced may overwhelm its borders. Turkey is already home to more than 3.5 million Syrian refugees. The United Nations has also called for a cease-fire. Larijani, meanwhile, reiterated his country’s support for Syria in fighting terrorism. Iran has played a key role in supporting Assad’s war efforts, sending financial support as well as fighters to back up Syrian military operations. Support from Russia and Iran has enabled Assad’s forces to regain control of much of the territories they had lost to armed groups who worked to topple him. Over 400,000 people have been killed and half of Syria’s popu lation d isplaced since peacef u l protests in 2011 turned into a civil war stoked by foreign inter ventions. AP

India’s top court grants equal rights to women in army

EW DELHI— India’s top court on Monday ordered the federal government to grant permanent commission and command positions to female officers in the army on par with men, asserting that the government’s arguments against the policy were based on gender stereotypes. The court’s decision, seen as a watershed moment for the Indian military, would mean that women can extend their short service roles in noncombat support units such as education, law and logistics until they want to retire and rise to the rank of Colonel,

based on merit. Currently, female officers can serve for only 10 to 14 years in the army. “This is a historic decision and a significant day for not only those who are serving in the army but for also those who are desirers of joining forces,” said Lt. Col. Anjali Bisht. The Supreme Court’s decision, however, does not mean that female officers will serve in army combat units such as the infantry, artillery or armored corps. Monday’s decision comes days after the government told the court that women were not suitable for commanding

posts in the army, saying male troops were not prepared yet to accept female officers. It also said that male and female officers could not be treated equally when it came to postings because the “physical capacity of women officers remains a challenge for command of units.” The court said in its order that such arguments were against the concept of equality. Previously, former army Chief of Staff and current Chief of Defense Staff Gen. Bipin Rawat raked up a controversy when he said in an interview with a news channel

that women were not ready for combat roles because they were responsible for raising children and would accuse male officers of peeping into their quarters. “She will say somebody is peeping, so we will have to give a sheet around her,” Rawat had told CNN-News18. The petitioners in the case demanding equal rights for female officers welcomed the court’s decision. “This is very, very significant,” said Meenakshi Lekhi, a lawyer. “A denial of particular progression was something which is inherently unequal and unjust.” AP

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SM strengthens its preventive efforts against COVID-19

Erehwon to exhibit P20-M Heber Bartolome painting at the Ortigas Art Festival

HE Erehwon Center for the Arts will be one of the major exhibitors joining this year’s Ortigas Art Festival from February 28-March 8 at Estancia Mall, Capitol Commons in Pasig City. Ang Bayan, a 12x3 feet mixed media painting by Heber Bartolome, will be Erehwon’s centerpiece at the art festival. The painting is a vivid portrayal of the Filipino people’s collective struggle against injustice and oppression over the years, from the student protests in the early 1970s, through the Martial Law years. The image appears to be a scene from the People Power Revolution, but the painting was completed in 1983. The work seems to have presaged that momentous event that

toppled the dictatorship, three years before it happened. Apart from its political significance, the painting is also of big sentimental value to the artist. Speaking of the painting, which is priced at P20M, Ka Heber says: “If somebody wants to buy it, it is for sale. But I cannot sell it for less, or even exchange it for several Mercedes Benzes.” The painting cost him blood and tears, literally and figuratively, to finish. “I was operated on twice while working on it because of the toxic fumes from the oil paint, but still I persisted. And because of this painting, my wife Maita and I separated.” The painting was last exhibited in Heber’s solo show “Karugtong” at Erehwon Center for the

Arts in February 2019, and has remained on display open for public viewing at Erehwon since. Heber Bartolome, well-known for his progressive songs (Buhay Pinoy, Karaniwang Tao, Nena, Tayo’y mga Pinoy, and others), is a graduate of Fine Arts from the University of the Philippines, and has a master’s degree in Philippine Literature, also from UP. So he paints, writes, composes and sings. He has held several art exhibitions, locally and internationally. His paintings, like his songs, depict the realities of Philippine life and the sentiments of ordinary Filipinos. Along with Heber’s painting, Erehwon’s exhibit at the Ortigas Art Festival will also include sculptures made from upcycled materials by Marlon Lucenara, Dei Jardiniano, and Robot Cawaling. The 2020 Ortigas Art Festival will showcase artworks from various galleries and by individual artists, local and international, with overall exhibition design by Renato Habulan. The festival will also feature workshops and demonstrations on painting, stencilling, sketching, watercolor, and other visual art skills.

Jollibee marketer wins Agora for success of PHL brands in North America

FTER generating an exemplary growth and performance of Jollibee Foods Corporation (JFC) brands abroad, Jollibee’s international marketing head Luis U. Velasco III won the Outstanding Achievement in Overseas Marketing distinction during the 40th Agora Awards held at Okada Manila. The award was given by the Philippine Marketing Association (PMA) to celebrate deserving marketing professionals who showcase ingenuity, versatility, and innovation in their marketing efforts, setting as an inspiration and standard for marketing excellence in the country and the Asia-Pacific region. For Velasco’s award, his leadership has been instrumental to the success of JFC’s brand performance in sales, market share, and profitability, as well as gaining significant customer appreciation. “I would like to thank the PMA and the Agora Awards for giving this prestigious award, which is a validation not only of our team’s hard work, but also of the competence of the Filipino and of Filipino brands in succeeding against global giants,” he said. “This distinction shall be our guiding torch towards achieving more creative and innovative initiatives for the benefit of the Filipino.” Through a successful brand repositioning, he was able to position

Jollibee in the global market, especially in Singapore and Vietnam where its famous signature Chickenjoy instantly became a hit. They also achieved a record sales growth through the years. After his success in bringing Chickenjoy closer to the Asian palate, Velasco also managed the promotion of three homegrown brands—Jollibee, Red Ribbon, and Chowking—in North America.

“It has always been a challenge for me to introduce Jollibee to a completely different market and varying taste perception. Maybe the most rigorous and daunting part was bringing it to the United States, which is famous for being the fried chicken capital of the world. But with the immense trust, support, and love we have for the brand, we were able to market our identity to the world with so much rigor,” Velasco added.

WORLD-CLASS JFC MARKETER. JFC International Marketing Head for North America Luis Velasco III poses with officials of the Philippine Marketing Assocation after receiving his award for Outstanding Achievement in Overseas Marketing by the Agora Awards.

FIABCI World Congress pushing PHL as events hub

Arch. Nestor Mangio, Fiabci PH President

Mr. Florentino Dulalia Jr. , Fiabci World President Elect

FORTHCOMING world real estate congress slated in Manila is reinforcing the country’s niche position as a preferred international events destination in this part of Asia. Coming on the heels of the highlysuccessful and acclaimed Southeast Asian Games 2019, the congress is targetinng 72 countries where some 2,300 members of the Paris-based Federacion Internationale des Adminstrateurs de Biens Conceils et Immobiliers (FIABCI) are coming from.

Mr. Reghis Romero II, Fiabci Ph Chairman

“They are very excited to attend the 2020 FIABCI World Real Estate Congress in Manila on May 26-30, which is the very first time in the federation’s 71-year history,” said FIABCI Philippines president Architect Nestor S. Mangio and incoming FIABCI World president Florentino Dulalia Jr. Fresh from their participation in the 38th FIABCI Global Business Summit in Belgium, Dulalia and Architect Mangio echoed each other on the delegates’ response to FIABCI Philippines’ presentation of the

country’s unique nature and culture. “The presentation serves as our invitation to FIABCI World members to join the federation’s first-ever international congress in Manila,” Mangio said. Mangio led the presentation, featuring the country’s modern high-rise buildings, central business districts, world-class entertainment facilities along with its many natural and cultural attractions. “The country’s tourism absorptive capability in terms of accommodations capacity alone reached a total of 289,649 rooms by end-2016 as accredited by the DOT (Department of Tourism) and reported by the BOI (Board of Investments),” said FIABCI Philippines chairman Dr. Reghis M. Romero II, who chairs the congress organizing body. The partnership will boost the campaign of the DOT and its marketing arm Tourism Promotions Board (TPB) in positioning the Philippines as an international hub for meetings, incentive travel, conventions, and exhibitions (MICE).

ECOGNIZING NCov as a serious public concern, SM Supermalls is aware that the best way to prevent Novel coronavirus (2019-ncov) infection is to minimize exposure to this virus. Recently SM Supermalls deployed its own Sanitation team in every mall to ensure preventive measures is carried out in the most common area frequented by patrons. DOH strongly recommends everyday preventive actions such as having an alcohol based hand sanitizer with 70% alcohol. Mr. Hans T. Sy, Chairman of the Executive Committee of SM Prime, issued a directive to

give all employees a pocket size alcohol, and the order is currently implemented in all SM Supermalls. This is to remind everyone to always disinfect their hands after touching frequently touch surfaces like door knobs, light switch, phones, faucets and sink. SM is cognizant of the need to ensure the safety of their clients and their employees. The pocket-size alcohol is now distributed to all employees in all SM Malls including SM City Calamba, SM City San Pablo, SM City Batangas, SM City Lipa, SM City Lucena, SM City Naga and SM City Legazpi.

Save the Children calls for concerted effort to keep children safe online

AVE the Children Philippines calls on the government, civil society organizations, the private sector, parents, carers, teachers, and the media to work together in protecting children from online sexual abuse and exploitation of children (OSAEC). The Philippine government’s National Baseline Study on Violence against Children (NBS-VAC) revealed that one in two (1 in 2) Filipino children experience online abuse with one in four (1 in 4) being exposed to sexually explicit content. Children also said they have been sent sexual messages (29%) and some (3%) said they have shared images of themselves nude or discolosed their sexual activites on the internet. There are several factors that contribute to the persistence of this issue A Mother guides her son in using a mobile phone in Matag-ob, in the country such as the lack of capacity Leyte. Photo by LJ Pasion /Save the Children of families to support their children’s basic means the government should pass needs and the prevailing notion that the and implement laws and policies that lack of physical contact means there is no would protect children from OSAEC, abuse or exploitation that is taking place. have prevention programs and accessible The Systematic Literature Review (SLR) services for children and their families, of the Drivers of Violence identified the implement widespread information following as the drivers of online violence: dissemination on OSAEC, and prosecute poverty, broken homes, poor parenting, those who are exploiting our children and consumerism, peer influence, family values, women through the use of information, and socio-cultural beliefs and norms. communication technologies,” says Atty. “Addressing the drivers of online Albert Muyot, Chief Executive Officer of violence requires strengthening the Save the Children Philippines. country’s child protection system. This

Pay tribute to unsung heroes in Power Mac Center’s Project Bayani photo contest, workshop

REMIER Apple partner Power Mac Center just launched its Project Bayani campaign, highlighting everyday unsung heroes using the power of narrative photography. Through an online photo contest, iPhone photography workshop and photo walk, Power Mac Center encourages Filipinos to share truthful and influential stories about ordinary people who live extraordinary lives.

“Heroes come in all shapes and sizes, and their actions, whether big or small, make a difference and can change lives. With our Project Bayani narrative photography campaign, we aim to magnify that idea by providing a platform to recognize these special individuals and presenting them through beautiful photographs shot on iPhone.” said Joey Alvarez, Power Mac Center Director of Product Management, Marketing and Space Planning. Project Bayani’s iPhone photography workshop session and photo walk feature professional photographers Jilson Tiu and JC Gellidon imparting wisdom and sharing tips to those who want to improve their skills. There will be two workshop sessions and photo walks that will be hosted, with each having 15 participants – the first one will be on February 22 in Manila and the second in Corregidor on February 29 to March 1. Both places are rich with history and stories of heroes, being locations of major battles that helped shape Philippine history. To join the free photography workshop session and photo walk in Binondo, Quiapo, and Intramuros, Manila with Jilson Tiu and WanderManila, register at https://about.powermaccenter.com/ projectbayaniworkshopmanila.

Look! Out on the pitch! Is it a bird? Is it a plane? It’s Wonder Woman!

ENTURION, South Africa—Climate activists dressed as Wonder Woman and other movie superheroes interrupted a cricket game in South Africa on Sunday by invading the field, and protesters also climbed a floodlight pylon to display a banner. The protest at the SuperSport Park stadium near the South African capital Pretoria was meant to draw attention to air pollution in South Africa and was carried out by Greenpeace Africa, it said on its Facebook page. The action came during a series-deciding game between South Africa and England. Numerous protesters in costumes managed to get on the field during play. One of them, wearing a Wonder Woman costume, reached South Africa captain Quinton de Kock in the middle of the field and spoke to him before handing him a white face mask. Smiling, de Kock took the mask. Another South Africa player, fast bowler Dale Steyn, joined the conversation and gave the protester a high five. Steyn was also given a white face mask. Protesters also managed to climb one of the floodlight pylons and unfurl a bright yellow banner high above the field. It read: “Toxic Air Is Not Just A Game” and “(hashtag) BowlOutAirPollution.” On Facebook, Greenpeace Africa posted a photo of a man and a woman in Superman and Wonder Woman outfits high up on the floodlight pylon and said they were activists. The protest was directed at South Africa’s national electricity supplier, which operates coal-burning plants and is causing “runaway air pollution,” Greenpeace Africa said. The game resumed after a short delay. England, which was batting at the time of the protest, went on to win the game and series. In Islamabad, South Africa cited fatigue as the reason for not playing three Twenty20s in Pakistan next month. “Managing player workload is a top priority for any cricket board, and from that perspective, their decision is understandable,” Pakistan Cricket Board Chief Executive Wasim Khan said in a statement on Friday. The PCB had already proposed Rawalpindi as the venue for the series to the CSA and was also expecting a security official from South Africa to visit Pakistan during the PSL tournament, starting next week. Khan said that the CSA has assured the PCB it would honor the commitment of sending their team to Pakistan as soon as it is reasonably possible. “We are pleased that the CSA remains committed to rescheduling this short series...both the boards are now exploring their Future Tour Programs to find gaps so that we can agree on the dates,” Khan said. South Africa is presently hosting Twenty20s at home against England. Next week, South Africa will be touring Australia for three Twenty20s and as many one-day internationals and then they are scheduled to go to India for three ODIs, starting March 12. AP

Sports RUSSIA READY TO HOST EVENTS R BusinessMirror

A PITCH invader runs past England players during the final T20 cricket match between South Africa and England at Centurion Park in Pretoria, South Africa, on Sunday. AP

| Tuesday, February 18, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

USSIAN Minister of Sports Oleg Matytsin said his country is ready to host any sporting events that are affected by the coronavirus with so many already canceled or postponed in China. Top sporting events including the World Athletics Indoor Championships and the Shanghai Formula One Grand Prix have been postponed due to the outbreak. The news comes as the International Basketball Federation (Fiba) had to postpone three Asia Cup qualifiers, with the Asian Games water polo results from last year being used for Olympic qualifying after the qualification event was canceled this week. “If the need arises and we will understand that the quality of the competition will be high, and if this will be a real help to our colleagues from China, then we will do our best,” Matytsin told TASS. “I believe that the problem with the virus will be localized in the near future, but it will affect the holding of international competitions.” “Will it have a long-term effect? I hope not,” he said. “We know the positive aspects of the model for the development of sports in China and I hope that our international cooperation will be in studying this experience.” To date, 67,000 people have been infected by the disease with 1,527 people dying while more than 8,000 have recovered. The first death outside Asia occurred on Monday after a Chinese native died in France. Three qualifiers for the 2021 Fiba Asia Cup have been postponed because of the coronavirus outbreak. Games scheduled to be played in China, Japan and the Philippines will no longer go ahead as planned. The Philippines clashes with Thailand supposedly on Thursday and Japan’s game against China—scheduled for Friday in Chiba—are the latest games to be scratched. Fiba already postponed China’s game versus Japan on February 24, which was to be played in Foshan. Dozens of sporting events in China and nearby Asian countries have been either postponed or canceled as a result of the epidemic, with the World Indoor Athletics Championships in Nanjing—pushed back by a year until March 2021— perhaps the most high profile. Tokyo 2020 organizers insisted that this summer’s Olympic

A SECURITY guard wearing a face mask walks through a quiet main Qianmen Street, a popular tourist spot, in Beijing. AP

Beijing club set to open Asian Champions League bid

EOUL, South Korea—Beijing Guoan is set to open its Asian Champions League campaign while three other Chinese clubs are still excluded from the continental soccer competition because of the viral outbreak that emerged in China and has killed more than 1,770 people. Major sports events in China, including the Formula One Grand Prix and the athletics world indoor championships, have been postponed while authorities try to contain the deadly outbreak. The Asian Football Confederation ruled

Games will go ahead as planned. The Xterra Asia-Pacific Championship for off-road triathlon was canceled. The event is set in Chinese Taipei on March 28 and 29. The event would have seen international athletes travel to compete in off-road triathlon, duathlon and trail running races. Organizers confirmed races will continue as planned for only domestic-based participants. Visitors from outside of Taiwan will not be able to compete, with the decision taken to “best protect the local community.” “The health and safety of our participants is our primary concern thus it was imperative to remove the risks associated with international travel for those athletes coming from outside of Taiwan and the local community as well,” Janet Clark, Xterra World Tour president, said. “We greatly appreciate the understanding and support from our sponsors and partners, and for all the efforts of our crew who were ready to host an incredible event for athletes from around the world,” Clark said. “It’s an epic adventure destination, the course and facilities are world class, and the hosts are warm and welcoming.” Local athletes who do not wish to race due to the circumstances are also eligible for a full refund or could roll their entry over to the 2021 event. Chinese athletes faced travel restrictions to several sporting events, while a number of Olympic qualifiers have been impacted. Two Asian sailing qualifiers for the Tokyo 2020 Olympics have been moved from China to Italy because of coronavirus. World Sailing confirmed that the 2020 49erFX Asian Championship and the 2020 Nacra 17 Asian Championship would now both be held in Genoa. They are part of the Sailing World Cup set in the Mediterranean city from April 12 to 19. The 2020 49erFX Asian Championship in the women’s skiff class is set in Hainan in China on March 20 and 29. Shanghai was the previous host of the Nacra 17 Asian Championship, with competition in the mixed multihull event originally planned for March 1 to 6. There is now even more importance on the event in Genoa because it’s the last opportunity for European sailors to qualify for Tokyo 2020. Insidethegames

that Shanghai SIPG, Guangzhou Evergrande and Shanghai Shenhua couldn’t play matches in the continental club competition until late April. But after being in a training camp in South Korea since last month, the Beijing Guoan squad faces Chiangrai United in northern Thailand on Tuesday. The 2019 Chinese Super League runners-up have been cleared to travel and be involved in Chiangrai’s first-ever home game in the tournament.

“Of course, our preparation has not been the same this year as before and the situation in China is very serious,” Beijing’s Brazilian midfielder Renato Augusto said. “Everyone is worried, but we will do our best to win this game.” Beijing’s rustiness is a disadvantage according to Coach Bruno Genesio. “Chiangrai has played in the [domestic] league and the Champions League but this is our first game of the year,” Genesio, the former Lyon coach, said. “The importance of the

game goes without saying and we have worked very hard in training and we are ready.” The viral outbreak that began in Wuhan in December has infected more than 69,000 people globally. The World Health Organization has named the illness COVID-19, referring to its origin late last year and the coronavirus that causes it. It has forced organizers to reschedule many of the Asian Champions League games in the preliminary stages, meaning a staggered start to the tournament. Melbourne Victory, which beat Chiangrai last week to go top of Group E, will travel to South Korea to take on FC Seoul. Perth Glory is preparing for a first-ever Champions

League game, a trip to FC Tokyo. Coach Tony Popovic, who led Western Sydney Wanderers to the 2014 continental title, insists that his players have not been distracted by the possible sale of the club to a Bitcoin investment group. “It’s not affecting us, so I’m not concerned,” Popovic told reporters. “It’s in the media, it’s news. Whenever you talk about ownership changing it’s a headline. The players are fine.” Perth owner Tony Gage told fans and sponsors on Friday that a deal had not been done. “The players are heading to Tokyo and would have read social media about their club being sold,” Sage said. ”Don’t believe fake news.” AP

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C2 Tuesday, February 18, 2020

Leonard wins first Kobe Bryant All-Star MVP award

Jennifer Hudson sings a tribute to Kobe Bryant and his daughter Gianna who were killed in a helicopter crash last month before the All-Star game on Sunday in Chicago. AP

HICAGO—Kawhi Leonard made it look effortless, nailing one 3-pointer after another and nearly matching an All-Star Game record. The tough part came afterward. Finding the right words to express how he felt after becoming the first Kobe Bryant Most Valuable Player (MVP) award winner wasn’t so easy. Leonard scored 30 points and hit eight 3-pointers to lead Team LeBron to a 157-155 victory over Team Giannis on Sunday night. He was presented the MVP trophy that the league renamed after Bryant on Saturday, three weeks after the Lakers great and his 13-year-old daughter Gianna were among the nine people killed when their helicopter crashed near Los Angeles. “It’s very special,” Leonard said. “Like I said, I had a relationship with him. Words can’t explain how happy I am for it. Able to put that trophy in my room, in my trophy room, and just be able to see Kobe’s name on there, it just means a lot to me. He’s a big inspiration in my life. He did a lot for me.” Bryant had a huge presence over the first All-Star festivities in Chicago since 1988, when Michael Jordan delighted the home crowd by beating Dominique Wilkins in a classic slam dunk contest and scoring 40 points to take MVP honors in the game. There were all sorts of tributes to Bryant, his daughter and late NBA Commissioner Emeritus David Stern. But once the game started, it didn’t take long for Leonard to make his presence felt. The Los Angeles Clippers star has two NBA finals MVP trophies after helping San Antonio and Toronto win championships. He was picked for his fourth All-Star team and put on quite a display from the perimeter, knocking down eight of 14 3-pointers. Had he made one more, he would have matched Paul George’s All-Star record set in 2016. And he appeared to be well on his way to breaking it after a scorching start. Leonard hit one just seconds into the game. He made all four threes in the first quarter—the only shots he took while scoring 12 points. Leonard was seven of 10 in the first half, only to cool off a bit after that. He missed a step-back three that could have won it with his team up 154-153, but was the runaway winner for the game’s MVP honors with seven votes. LeBron James got three and Chicago product Anthony Davis and Chris Paul received one apiece. All that’s missing for Leonard now is the league’s regular season MVP award. “My mindset is always just to try to make my team the best team at the end of the regular season,” Leonard said. “And if I’m fortunate enough to win a regular season MVP, then I’ll be happy with it. I always just want to win championships. I’m not really concerned with the personal goal. So I always want to play to win championships.” Leonard could have signed with the Lakers and teamed with James and Davis with Frank Vogel coaching them after leading Toronto to the championship last season. Instead, it was a one-night-only affair, with Vogel on the sideline for Team LeBron. AP

A FRANTIC FINISH, AND THEN SOME

Kawhi Leonard: It’s very special. AP

HICAGO—Players were taking charges, bodies were hitting the floor, calls and non-calls were being screamed about on both ends. The fourth quarter of the National Basketball Association (NBA) All-Star Game was as intense as the final moments of a playoff game, the biggest stars in the league holding absolutely nothing back. And in the end, Anthony Davis was a hometown hero by making a free throw. Kobe Bryant—ever the competitor—would have simply loved the way this night went. “That was pretty damn fun,” a sweatsoaked, exhausted LeBron James said at the end. Davis made a game-ending free throw to give Team LeBron a 157-155 win over Team Giannis in the revamped NBA All-Star Game on Sunday night, the format overhauled to put in elements for charity and ensure that someone was going to hit a shot to end the game. That someone was Davis, the Chicago native who missed the first free throw and made the second to end the NBA’s midseason showcase that went down as the closest All-Star Game since the Eastern Conference topped the Western Conference, 141-139, in 2010. Kawhi Leonard, the game’s Most Valuable Player and the first recipient of the trophy now named for Bryant, scored 30 points for Team LeBron, while James—his team’s captain—and Chris Paul each scored 23, and Davis finished with 20. “This one’s for him,” Leonard said, speaking of Bryant afterward. Giannis Antetokounmpo, who captained his team, led his squad with 25 points, Kemba Walker had 23 for Team Giannis, Joel Embiid scored 22 and Rudy Gobert added 21.

Dale Jr. alters approach to flying after scary plane crash

AYTONA BEACH, Florida—Dale Earnhardt Jr. spent decades taking risks on the track and in the air. He’s trying to minimize both these days. Earnhardt said Sunday before the Daytona 500 that he’s changed his approach to flying following a harrowing crash landing near Bristol Motor Speedway last August. Earnhardt, his wife Amy, daughter Isla, dog and two pilots escaped the fiery jet in east Tennessee. Earnhardt was physically unscathed, but emotionally scarred. “It’s really tough on me getting back in the plane and it will never be the same now that you know the real realities and dangers,” he said during a wide-ranging, 24-minute interview. “It

will never, ever be the same again. “Something you will never be able to forget and never block out no matter how many flights you take.... For me to be able to get back in there and go and do and travel like I want, the only way I can do it is really was to get into the details.” Earnhardt has tried to learn everything he can short of becoming a pilot. He did a deep dive into his jet’s capabilities, specifically regarding how long it needs runways to be for takeoffs and landings. And he’s checking detailed weather reports days before stepping on the plane. “I’m diving into the deep end trying to learn everything I can about the plane’s ability and the decisions they make and why they make them,”

he said. “It’s been extremely educational, as you could imagine. “I’ve learned so much in such a short period of time. It’s kind of empowered me and given me more confidence in what we’re doing and that we are safe and that I am going to be safe as opposed to...I don’t want to just quit flying; I don’t want to just quit getting into an airplane. I need to get over that fear and work hard to get through it.” He spoke to a number of people about his experience, and the advice he heard repeatedly: keep getting back on the plane and in the air. “I just sort of have to figure this out on my own, and it’s working out pretty good so far,” he said. AP

Kentucky Derby winner Country House retires

ountry House, the horse who won the Kentucky Derby in 2019 after the first horse over the finish line was disqualified, has been retired because of a foot ailment. Blackwood Stables on Friday said Country House won’t race again after being treated for laminitis in his right front foot. He finished second in the Derby as a 65-1 shot and was placed first when Maximum Security was disqualified. Significant steps were taken to save

Country House. “I’m glad that he survived,” trainer Bill Mott said by phone. “Naturally, it’s unfortunate something like that happens in the first place, but they worked hard and did the best they could to keep him alive and, hopefully, he’ll be able to go on to a stud career. “We’ll miss him at the racetrack because he was a horse that seemed like he was just in the development stages and getting better and better, and would’ve been a good horse for some

of those good, older stakes races.” Instead, medical issues plagued Country House in the weeks and months after the race of his life. An illness knocked him out of the Preakness, and he developed a condition in his left front leg in June that required readmittance to a renowned equine hospital. Country House developed issues in his right front leg, and work was done to keep him alive and well. AP

“I think it was really interesting,” said Team Giannis Coach Nick Nurse of the NBA champion Toronto Raptors. “It was really fun, each and every quarter, from a coaching standpoint.” The finish was frantic, and then some. James tried a lay-up that would have put his team one point away—it was blocked by Antetokounmpo, called a goaltend at first but ruled a clean block after review. Team LeBron controlled the resulting jump ball and James tried a 40-footer to end it but missed. James Harden then had a chance to win it for Team LeBron, and his 3-pointer went in—but it was waved off by Kyle Lowry taking a charge against the NBA’s scoring leader. James got a dunk not long afterward to make it 156-153, and Embiid made two free throws to cut Team LeBron’s lead to one. With that, it was next-basket-wins time. “Really cool,” Nurse said. Davis was fouled on the next trip, got the free throw to win it, and that was that. “I told my team I was going to miss the first one to put a little more pressure on myself here at home,” Davis said. James’s team wore blue jerseys, all with the No. 2 for Gianna Bryant. Antetokounmpo’s team wore red, every player wearing No. 24 on the back for Kobe Bryant. And on their right shoulders was a black circular patch with nine stars, one for each victim of the helicopter crash that took the lives of Bryant, his daughter and their seven friends on January 26. “His presence was felt,” James said. And with the new rules, the teams went at it in the fourth: Antetokounmpo got out to block a shot by James, Lowry took a charge from his former Toronto teammate in Leonard, elbows got up in collisions for rebound positioning, Paul was screaming encouragement to Team LeBron teammates in a time-out—all adding up to an intensity hardly ever seen in All-Star Games. “To me, probably the best All-Star game ever,” Embiid said. “Guys competed, it came down to basically the last shot, but I don’t think you should be able to win on a free throw. But overall it was a lot of fun.”

It was the first All-Star Game with a new format: The teams played a mini-game in each of the first three quarters, the scores starting at 0-0 in each of those periods and the winning team in each one earning $100,000 for their Chicagoarea children’s charity. James’s team won the first quarter 53-41, Antetokoumpo’s team won the second quarter 51-30. The third quarter had down-to-the-wire, big-money drama with $100,000 on the line. But the teams finished the quarter tied 41-41, putting $300,000—the undecided $100,000 from the third and $200,000 more for the win—at stake in the final period. The cumulative score at that point was Team Giannis 133, Team LeBron 124 going into the untimed fourth quarter— with another new twist. The NBA decided, as part of the series of Bryant tributes, that the winner of the All-Star Game would be the team that added 24 points, a nod to his jersey number, to whatever the leading total score was after three quarters. That meant the target score was set: 157. The game clock was off. The shot clock stayed on. The stage for drama was perfectly set, and the All-Star Game—oft-maligned in recent years for a lack of competitiveness—was entertaining again. AP

FOR SCOTT, THIS TIME IT COUNTS

OS ANGELES—Adam Scott contemplated the safe shot to get him out of his mess on the 15th hole at Riviera, knowing it would probably cost him his two-shot lead but not yet the tournament. On a Sunday filled with big blunders and untimely mistakes, Scott changed his mind. “I thought, ‘Well, you can maybe win the tournament if you hit a great flop shot here.’ So I thought I might as well go for it,” Scott said after his two-shot victory in the Genesis Invitational, this one that counts in the record book. The flop shot to 5 feet allowed him to escape with bogey. Two holes later, he ran in a 10-foot birdie putt for a two-shot cushion and carried that to a one-under 70 and a win that felt overdue. Scott won the Australian Professional Golfers’ Association (PGA) two months ago and hadn’t played since then. Still, it had been nearly four years since his last PGA Tour victory. That changed at Riviera, his favorite course, on a final day so tough no one shot better than 68. Scott made clutch putts for birdie, par and bogey. But it was that decision—and the shot— that stood out. “I had a little bit of that kind of mindset, not just today but the whole week, of ‘what have I got to lose?’... Give myself a good chance to get back in the winner’s circcle on the PGA Tour,” he said. The victory comes 15 years after Scott won a playoff at Riviera that didn’t count as official because rain shortened the tournament to 36 holes. He earned every bit of this victory, his 14th on the PGA Tour and 29th worldwide. So tense was Sunday that nearly a dozen players had a chance to win. Five players had a

share of the least at some point. The list included Rory McIlroy, who never recovered from a triple bogey; Harold Varner III, who chunked his 3-wood off the 10th tee so badly that the shot traveled 129 yards and led to double bogey. Matt Kuchar went 15 holes with three bogeys and no birdies to fall behind.9.5 “Honestly, I didn’t expect it to be as difficult as it was, but everyone was finding it tough out there,” McIlroy said after a 73 that left him in a tie for fifth, but still No. 1 in the world. “Adam held on well at the end.” Tiger Woods had his problems, too, but he was never in contention. Woods played a five-hole stretch late in his round at five over and shot 77 to finish last among the 68 players who made the cut. It was the first time Woods has finished last alone since the Memorial in 2015. “Good news, I hit every ball forward, not backwards, a couple sideways,” Woods said. The final round became wide open after the fifth hole when Scott and McIlroy hit shots that bounced over the green and across a series of swales. McIlroy tried to bump a shot into the hill and it came up short and rolled back. He flopped the next one about 20 feet away and three-putted for triple bogey. On the par-3 sixth, he hit it on the wrong side of the bunker in the middle of the green and dropped another shot. AP THE victory comes 15 years after Adam Scott won a playoff at Riviera that didn’t count as official because rain shortened the tournament to 36 holes. AP

orts

sMirror

Tuesday, February 18, 2020

SPECIAL AWARDS FOR SCHROCK, PAGDANGANAN T

WO more outstanding Filipino athletes—Stephan Schrock and Bianca Pagdanganan—will be accorded special awards by the Philippine Sportswriters Association (PSA). Schrock will be conferred the Mr. Football award, while Pagdanganan will be the first ever to receive the Ms. Golf title during the San Miguel Corp.-PSA Awards Night on March 6 at the Centennial Hall of the Manila Hotel. Schrock, 33, and Pagdanganan, 22, join Mr. and Ms. Basketball Thirdy Ravena and Jack Animam, Mr. and Ms. Volleyball Bryan Bagunas and Sisi Rondina and Coach of the Year Pat Aquino as recipients of special awards from the country’s oldest media organization in the event presented by the Philippine Sports Commission, Milo, Cignal TV, Philippine Basketball

Association, AirAsia and Rain or

Shine. For making the country proud with its exceptional performance that netted for the host the overall title of the 30th Southeast Asian Games, Team Philippines was the unanimous choice as recipient of the coveted Athlete of the Year award. Pagdanganan had her own share in the Filipinos’ successful drive in the SEA Games. She led the country’s two-gold medal romp in golf by winning the women’s individual and team events in tandem with Lois Kaye Go. The recipient of the 2018 PSA Athletes of the Year title—with fellow golfers Go and Yuka Saso, Hidilyn Diaz and Margielyn Didal— Pagdanganan also won the Hawkeye El Tigre Invitational in Mexico last year. The Filipina golfer attended Gonzaga University and later, the University of Arizona, which she helped win the NCAA Division 1 women’s championships in the same year.

anila Southwoods will go to Bacolod City in two weeks thinking of one thing: Starting from scratch. Denied a fifth straight Philippine Airlines (PAL) Interclub Men’s championship last year in Cebu, the Carmona-based squad will be fielding another roster that is armed to the teeth as it tries to start off another streak and get one of the strongest programs in the country back on track. “For us, it’s like we’re starting over again,” non-playing skipper Thirdy Escano said. “Our players know what it is we missed last year. All credit to Cebu Country Club, don’t get me wrong, but we are going all out to get the first of another streak.” Cebu CC, feeling right at home, pulled off the unimaginable at the PAL Interclub last year, coming from the lower-ranked Founders Division

to dethrone Southwoods with fine play and scoring all week. And Escano believes, unlike last year, that no team will have an advantage in the 72-hole unofficial team championship of the country that gets off the ground on March 4 at the Binitin and Marapara layouts. Yuto Katsuragawa, the Japanese hotshot, returns for another tour of duty, and Escano tweaked his lineup a bit by recalling a veteran who was part of Southwoods’ early successes in Vince Lauron, the former pro who will be the team’s second anchor together with Jun Jun Plana. “Veteran presence was what we lacked last year,” Escano said. “Bringing back Vince addresses that while also providing a lot of firepower for the team.” Former Junior World champion Kristoffer Arevalo, Jeff Jun, Sean Ramos, Josh Jorge, Masaichi Otake, Santino Laurel and Aguri Iwasaki, who is priming up for the final stage of qualifying for the Asian Tour, are the other members of the loaded Southwoods squad.

National flag carrier Philippine Airlines is the host of this prestigious international sporting event. The platinum sponsors are Asian Air Safari, Vanguard Radio Network, Fox Networks Group, and Radio Mindanao Network Inc. Major sponsors include The Boeing Company, University of Mindanao Broadcasting Network, Avolon Aerospace Singapore Pte. Ltd., Rolls Royce, Manila Broadcasting Company, Primax Broadcasting, Rolls-Royce Singapore Pte. Ltd. and Cignal TV Inc. Other supporters are Uniglobe Travelware Co. Inc. (The Travel Club), Officine Corporation, GE Aviation, SEDA Hotels, BDO Unibank, Smart Communications Inc., People Asia Magazine, A+E Networks Asia (History) and Allianz PNB Life.

the Phl Amateur Open Match Play and Northern Luzon Regional Championship. But Arevalo is going all out to atone for that setback with the SEA Games team gold medalist and former San Jose State U mainstay also eyeing a win that would bolster her confidence for her planned pro debut next month. “I’m excited to play and see where I’m at with this opportunity,” said Arevalo, who is actually set to vie in the Women’s Amateur Asia Pacific and the Queen Sirikit Cup before joining the Ladies Philippine Golf Tour at Summit Point. Both world-ranking events, however, were postponed due to COVID-19 concerns. Meanwhile, the top 30 percent of the field after 18 holes will qualify to compete for the Open division with the rest to vie in Intermediate division (Classes A and B) of the event backed by Globe, the National Golf Association of the Philippines, Copok (Seascape Village), New World Hotel, Pocari, Manila Golf Ladies, Regent Travel, Hyundai, Poten-Cee, Pascual Lab, Net25, Lake Shore CCY, FHLCI and Tagaytay Ladies.

HE International Basketball Federation (Fiba) confirmed on Monday that the Fiba 3x3 Olympic Qualifying Tournament and World Tour Masters in Manila 3x3 tournament will proceed as scheduled despite the coronavirus crisis. Ignacio Soriano, Fiba’s 3x3 event manager who is in town to discuss with Manila Masters

PSC jump-starts selection process for Hall of Fame

Stephan Schrock will hoist his second Mr. Football trophy, while Bianca Pagdanganan will be the first ever to receive the Ms. Golf title.

HE Philippine Sports Hall of Fame, the country’s premier award-giving body for sports, convenes with its initial meeting at the Philsports Complex on Tuesday to start selecting the next batch of awardees. The Philippine Sports Hall of Fame (HOF) 2020 Committee—headed by PSC Chairman William Ramirez and vice chaired by Philippine Olympic Committee (POC) President Abraham Tolentino—will determine the criteria for the nomination and selection of candidates. “We want to get a good lead time because the selection process is an arduous exercise. We have a lot of athletes truly deserving to be enshrined in the Hall of Fame,“ Ramirez said. “We hope to get

sponsor Chooks to Go, told media that the Tokyo qualifiers in India next month will push through despite reports that the virus has already killed more than 1,700 and infected thousands more. “The coronavirus has not only affected China, [but] for now, the first reaction is to keep the Olympic qualifying tournament in India as it is,” Soriano said. The Samahang Basketbol ng Pilipinas will announce the composition of the national pool for the India qualifier on Tuesday. Bengaluru will host the event from March 18 to 22, with the national team entered in Group C along with fourth seeded Slovenia and sixth seed France. Also in the group are Qatar (No.11) and Dominican Republic (No.18). The Philippines is ranked 14th in the 20-nation event. “It’s our first Olympic Games. We are doing our debut. I personally went there [India] last week and the preparations are doing good,” Soriano said. Soriano is in Manila to check on the country’s readiness for the World Tour event set May 2 and 3 at the SM Megamall in Mandaluyong City. The country hosted the same event in 2014 and 2015. Soriano assured that everything is in place despite the hysteria caused by the deadly outbreak. “We have no reason to [have any alarm]. The World Tour will happen. The World Tour in the Philippines is secured,” he said. Ramon Rafael Bonilla

more nominations this edition.” Also attending the meeting are members of the screening body composed of Games and Amusement Board Chairman Abraham Mitra, Philippine Olympic Committee Secretary-General Atty. Edwin Gastanes, Integrated Cycling Federation of the Philippines Secretary-General Atty. Avelino Sumagui, University Athletic Association of the Philippines Executive Director Atty. Rene Saguisag Jr. and Southeast Asian Games gold medalist and Philippine Olympians Association President Akiko Thomson Guevara. The HOF—Republic Act 8757—enshrines Filipino athletes, coaches and trainors who have brought honor and pride to the country

in their career and exhibited exemplary character. Candidates should have won at least a gold medal in the Southeast Asian Games, a silver medal in the Asian Games or Asian Cup or regional games, a bronze medal in the Olympics or a world championship title in any professional or amateur tournament. The PSC is directed by law to organize the Screening Committee and the awarding of the Philippine Sports Hall of Fame title to the chosen athletes. Among the Hall of Famers are Gabriel “Flash” Elorde, Eugene Torre, Lydia de Vega, Rafael “Paeng” Nepomuceno and Olivia “Bong” Coo.

Veteran Huey back in business, wins doubles title in Cleveland

PHL LADIES OPEN ON

HE Philippine Ladies Open (PLO) 2020 gets going on Tuesday with Rianne Malixi out to extend her winning ways, Abby Arevalo seeking redemption and Nicole Abelar and Eagle Ace Superal ready to foil the two aces who clashed for the national crown the last time out. With Laurea Duque, Mariel Tee, Sophia Blanco, Junia Gabasa, Arine Taguines, Sam Dizon, Rhea Langamin and Mafy Singson likewise brimming with confidence, expect a slam-bang start to the 58th staging of the country’s premier championship at the Manila Golf Club in Forbes Park. A number of foreign bets are also coming into the championship, organized by the Women’s Golf Association of the Philippines, in top form, among them Airi Mitsuhashi, Aussie Angela Enqi and Fil-Guamanian Kristin Oberiano, ensuring keen competition in the 54-hole tournament, a World Amateur Golf Ranking event sponsored by San Miguel Corp., Diamond Motors, Sunsports and Eva Air. But focus will be on the 12-year-old Malixi and Arevalo, 20, with the former all primed up for another championship run after snaring the National Stroke Play title with a victory over the latter on the third sudden death hole at Riviera last month. Malixi also emerged as the winningest player in the ranks last year, ruling the Phl Junior Amateur Open at Sherwood Hills where she won the overall crown despite playing in a lower age-group category. She also dominated

FIBA WON’T CANCEL 3X3 TOKYO QUALIFIER, MANILA MASTERS T

A sports and society major, Pagdanganan turned pro last year. Schrock, meanwhile, will be receiving his second Mr. Football award after winning his first in 2013. The veteran midfielder of Ceres Negros was the rock of the Azkals that is currently on a transition, serving as captain of the U22 team in the SEA Games that came close to reaching the knockout stage. The Fil-German was also named by the Asean Football Federation (AFF) as one of the recipients of the Best XI Award during the AFF Awards in Hanoi, Vietnam. On the domestic front, Schrock led Ceres Negros to a third successive Football League title and steered the team to the Asean Zonal semifinals of the Asian Football Confederation Cup. Along with goalkeeper Neil Etheridge, Schrock also led the Azkals’ campaign in the 2022 Fifa World Cup and 2023 AFC Asian Cup joint qualifiers.

SOUTHWOODS SEEKS REDEMPTION

ETERAN Treat Huey nailed his first title in three years by partnering with American Nathaniel Lammons to win the Association of Tennis Professionals Challenge Tour Cleveland Open men’s doubles crown on Monday. Unfazed against the tournament favorites, the unseeded pair of Huey and Lammons disposed of top seeds Luke Saville and John-Patrick Smith, 7-5, 6-2, to claim the trophy. The duo never faltered from the beginning, beating Dmitry Popko of Kazakhstan

and Alejandro Tabilo of Chile in the first round, 6-4, 7-5, before escaping past Ian Dempster and Korey Lovett of the US in the quarterfinals, 7-6 (8-6), 6-4. Huey and Lammons booked a 6-3, 7-6 (7-5) win over American Robert Galloway and Mexican Hans Hach Verdugo in the semifinals, 6-3, 7-6 (7-5). The Filipino-American was riddled with back injuries and was sidelined for two years. He reached his peak in 2016 when he landed in the doubles world rankings at No. 18.

Ramon Rafael Bonilla

Commissioner’s dad passes away

P A TIGHT duel looms in the Philippine Ladies Open with Abby Arevalo seeking redemption and Rianne Malixi trying to extend her winning ways.

hilippine Basketball Association Commissioner Willie Marcial’s father Dr. Rogelio G. Marcial, MD, passed away last Sunday morning, leaving behind a legacy of service to the less privileged as a “Doktor Ng Bayan” in conducting free clinics with the Batangas Medical Society and Lions Club. Dr. Marcial, 82, was born in Batangas City and earned his medical degree at the University of the East Ramon Magsaysay Memorial Medical Center (UERM) and served his residency at the Robinson Memorial Hospital in Ravenna, Ohio. He was chairman of Internal Medicine at Saint Patrick’s Hospital Medical Center, Batangas City, and received patients in his private clinic, also in Batangas City. An avid sportsman, Dr. Marcial was a

member of the Batangas Rifle and Pistol Group. He was a past director of the Lyceum of the Philippines, Batangas City; past president of the Lions Club, Batangas chapter; and past president of the Samahang Rizal Ng Batangas or Rizalinos. Throughout his life, Dr. Marcial devoted himself to serving people, regardless of class or creed. He is survived by his wife Corazon, only child Willie and his grandchildren. Dr. Marcial died of congestive heart failure at the Makati Medical Center. His wake is at the Trinity Mortuary Chapel, Pallocan West, Batangas City, up to Thursday. Tentative inurnment is on Friday. Dr. Marcial’s family requests prayers for the eternal repose of his soul. AP

Sports

| Tuesday, February 18, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

HOUSTON Astros pitcher Justin Verlander crosses his arms as he stands with his teammates at the start of their first spring training workout in West Palm Beach, Florida, as Commissioner Rob Manfred takes questions about the Astros during a news conference at the Atlanta Braves’ spring training facility in North Port, Florida. AP

BusinessMirror

Manfred: No tolerance for beanballs in wake of Houston Astros scam

ORTH PORT, Florida—With baseball ablaze over the Houston Astros’ cheating scandal, Commissioner Rob Manfred met with nearly half of the major leagues managers Sunday and told them to knock off any notion of geteven beanballs. “I hope that I made it extremely clear to them that retaliation in-game by throwing at a batter intentionally will not be tolerated, whether it’s Houston or anybody else,” Manfred said. “It’s dangerous and it is not helpful to the current situation.” Cody Bellinger, Kris Bryant, Trevor Bauer and Carlos Correa were among the All-Stars recently trading threats, accusations and barbs as spring training opened. The revelation of Houston’s sign-stealing scam, the punishment imposed by Major League Baseball (MLB) and poorly received apologies by the Astros further enhanced anger across the sport, with players, club management and fans all joining in. “I think that the back and forth that’s gone on is not healthy,” Manfred said. Manfred had previously planned to attend a news conference at the Atlanta Braves’ new camp, along with managers and representatives of teams training in Florida to talk about the upcoming season. Instead of an uplifting look at the upcoming season, as this annual press session is, there was no doubt what was the No. 1 topic. Manfred said he would personally talk to the managers of the teams that train in Arizona on Tuesday. In further fallout from the Astros’ scheme, Manfred said the investigation into the Boston Red Sox could be completed within two weeks. He also said he planned to meet the players’ union to discuss new rules limiting in-game video access. “I do expect that we will, for 2020, have really serious restrictions on player and playing personnel access to video in-game,” Manfred said. “I think it’s really important for us to send a message to our fans that not only did we investigate and punish, but we altered our policies in a way that will help make sure it doesn’t happen again.” Manfred said MLB officials discussed the possibility of vacating the Astros’ 2017 World Series championship. “First of all, it had never happened in baseball,” Manfred said. “I am a precedent guy. The 2017 World Series will always be looked at as different, whether or not you put an asterisk or ask for the trophy back. Once you go down that road as for changing the result on the field, I just don’t know where you stop.” Astros players were granted immunity for taking part in the investigation but Manfred said that “if I was in a world where I could have found the facts without granting immunity, I would have done that.” “They had an obligation to play by the rules and they didn’t,” Manfred said. “ I understand when say the players should have been punished.” Manfred said expanding the MLB playoff format is being discussed internally but that no decision has been reached. AP

DETERMINING SUCCESS:

COACH OR TEAM? By Steve Mcmorran The Associated Press

ELLINGTON, New Zealand— The position of head coach in rugby in some ways is a throwback to another age, making the role and influence of head coaches in Super Rugby difficult to define and quantify. Many professional sports have evolved away from the pure coaching model toward a more managerial one in which the role is of strategy and oversight of broader issues of selection and deployment of talent. The purer “coaching” roles, with responsibility for elements, such as fitness and skills, fall on others. Rugby has taken some steps toward that model in its short professional era with the advent the head coaching position

and the devolution to a range of assistants responsible for elements, such as the scrum, attack, defense and kicking. Specialists have responsibility for areas, such as medical treatment and physiotherapy, fitness and nutrition. The role of manager in rugby is largely logistical and also owes a great deal to the sport’s amateur origins. In New Zealand before the sport went professional in the mid-1990s, the coach was sometimes known as the assistant manager and that may be illustrative of the way in which the role has changed with the advent of professionalism. There has at least been a rise in the cult of the coach, in which head coaches are often excessively cheered for a team’s successes and blamed unfairly with its failures. The amateur era still threw up many outstanding and famous coaches: Carwyn

James with the British and Irish Lions, Ian McGeechan and Jim Telfer with Scotland and the Lions, Danie Craven in South Africa, Bob Templeton and Bob Dwyer in Australia, Jacques Fouroux in France. Professionalism has seen the rise of the star head coach, often defined by success at a World Cup: Brian Lochore, Graham Henry and Steve Hansen with New Zealand, Kitch Christie, Jake White and Rassie Erasmus with South Africa, Dwyer and Rod McQueen with Australia, and Clive Woodward with England. The question remains, now pertinent in Super Rugby, of whether the coach is the main architect of a team’s success. Formula One offers an analogy. Is it the driver or the car that is most important? Would a moderate driver win in a superb car and a superb driver fail in a poor one? The Crusaders’ Scott Robertson is the most

successful active coach in Super Rugby, having won the tournament in each of the last three years. Until his appointment the Crusaders, who had won the tournament seven times, had gone eight years without a title. Before taking over the Crusaders he had been successful with every team he has coached, leading New Zealand to the under-20 World Cup and Canterbury to the New Zealand provincial championship. But in Super Rugby, he coaches a Crusaders team which, with all of its players available, is of test strength. Without some of those players the Crusaders have lost already this season to the Chiefs. The Chiefs, who haven’t made the semifinals for the last two years, are now guided by British and Irish Lions Coach Warren Gatland under whom they are one of only two teams unbeaten after three rounds this season. Gatland also seems to

have worked a transformation. South Africa’s Stormers are unbeaten and also have a new head coach, John Dobson, who seems to have inspired a team that hadn’t reached the semifinals since 2012. He is known for his ability to build strong team structures and environments, having coached at the University of Cape Town and successfully at age group level before winning the Currie Cup with Western Province in 2017. The other new coaches: Rob Penney with the New South Wales Waratahs, Naoyu Okubu with the Sunwolves, Ivan van Rooyen with the Lions and Sean Everitt with the Sharks have had mixed success so far but they also have teams with less abundant talent. Whether it’s the coach or the quality of players that determines success may just be indeterminable.

BBC takes soccer pundit off air after racist comment

CURLING New Brunswick skip Andrea Crawford watches her shot as lead Katie Forward and second Jillian Babin sweep during draw 4 against Northern Ontario at the Scotties Tournament of Hearts curling event in Moose Jaw, Saskatchewan, on Sunday. AP

ERBY, England—The BBC has dropped a soccer pundit from broadcasts after he made a racist comment about players at second-tier club Derby. Craig Ramage, a former Derby midfielder, singled out players he called the “young black lads” for criticism following Saturday’s 1-1 draw with Huddersfield on a BBC Radio Derby podcast. “Craig Ramage made unacceptable comments in a podcast yesterday, which have been removed,” the BBC tweeted from its Derby sport account on Sunday. “We are thoroughly investigating. Craig will not be on air while we look into this matter.” Derby said it stands “shoulder, together as one with all our players” and Ramage later issued an apology. “What I said was wholly inappropriate and unintentional,” he said. “Race is irrelevant to the issues that I was discussing and I deeply regret what I said. I sincerely hope that the players accept my apology.” Derby defender Max Lowe had highlighted Ramage’s comments in an Instagram post, saying it is unacceptable for players to be “judged by the color of our skin.” “As a young black footballer making my way in the game, I was shocked,” Lowe, who was an unused substitute against Huddersfield, wrote on Instagram. “With the support from people I have around me—and after reading today that [England and Manchester City player] Raheem Sterling is to spearhead an anti-racism and antidiscrimination taskforce on behalf of players from all backgrounds—I have decided to speak out on behalf of black footballers at Derby County. “Racial ignorance, stereotyping and intolerance negatively affect the image of impressionable young footballers and creates an unnecessary divide in society.” In Lisbon, Portugal, FC Porto striker Moussa Marega, who tried to walk off the field after being the target of racist abuse from fans, meanwhile, faced apparent attempts Sunday by his own teammates and opposition players to prevent him from leaving. Marega, who is black and plays for Mali, was visibly angered by monkey noises targeting him after he scored Porto’s second goal in a 2-1 win at Guimarães in the Portuguese football league. But when Marega started to walk off the field, several players from both Porto and Guimarães appeared to argue with him. Porto Coach Sérgio Conceição also went on the field and spoke with Marega. It took Marega several minutes to leave the field when he was substituted. AP

Merciful and loving God

erciful and loving God, You prosper the plans of the upright and give peace to Your people. With trust we pray: God in Your goodness hear our prayer. Bless and inspire artists, writers, critics and musicians. Favor farmers, gardeners and harvesters with just wages. Prosper the efforts of students, scholars and teachers. May God bless us with every gift of the Spirit and lead us to find hope in troubled times, through Jesus our peace. Amen. Give Us This Day, Shared by Luisa Lacson, HFL

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

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BOX OFFICE: ‘Sonic’ speeds to $57M debut; ‘Parasite’ sees big Oscar bump D3

Tuesday, February 18, 2020 D1

From day-one believer of the local market to global pioneer in fashion furniture Living Innovations founder Ferdie Ong BERNARD TESDA

By Jt Nisay

here was a good full hour before the fine-dining lunch crowd filled the tables of this swanky BGC restaurant when Ferdie Ong walked in. Sharp in a navy blue suit, the founder of luxury furniture company Living Innovations breezed through the doors looking calm and collected, with one hand pocketed and the other out for firm, introductory handshakes. It’s safe to assume that Ong has had his fair share of meeting new people, having traveled the world over in search for the next furniture brand to introduce to the Filipino market. This time, however, the agenda is to meet the press and talk about his group’s latest showroom, which is billed as their “most exquisite” to date for featuring a first-in-the-world execution. Located at Shangri-La at The Fort is Sovrano, a 200-square meter space that houses in one display three premium Italian brands: Armani/ Casa, Bottega Veneta and Fendi Casa. Never before and never anywhere have the luxury brands permanently shared a space prior to converging at the groundbreaking showroom in BGC.

The setup is a product of and a testament to the vision of Ong when he founded Living Innovations in 2002. He believed that he wasn’t alone in the country with a penchant for the “nice things.” Ong recognized limited furniture options for Manila’s discerning homeowners, and decided to bring in European brands. He started with indoor and outdoor furniture from Minotti and Dedon, before dabbling into kitchen systems and appliances from Gaggenau and Bulthaup, and eventually to audiovisual toys for the big boys from Bang & Olufsen. “We try to show to the Philippine market that, one, hindi tayo small time, that we can afford it; and, two, Filipinos can appreciate quality and understand it, as well,” Ong said. The selection process on which brands to bring in personally depends on Ong. Having been in the industry for more than 17 years, he simply reflects if the brand represents him, or if it’s something that he can use in his home. “Of course, there are things that I liked so much but the market is not ready for,” he said. “So, I’ve also learned over the years to be a little

GROHE Icon 3D wins Best Product Design at Blueprint Awards 2019

he global German brand Grohe has recently been announced as winner of the Best Production Design at the Blueprint Awards 2019 for its Icon 3D design—metal-printed taps featuring ultrathin structures and hollow interiors. The winners were announced in a ceremony at Fabric, London. The Blueprint Awards are revered for recognizing those at the forefront of innovation in design and architecture. Grohe was in excellent company in the competitive category, up against fellow industry heavyweights, such as Gensler, Minarc and Zaha Hadid Design. “To have been named the winner of such a prestigious award with 14 strong contenders, all trailblazers in their respective fields, is a special achievement” said Raj Mistry, marketing director for Grohe UK. “Our global design team continually strives to set the bar for what is achievable in

product design, and to be recognized by Blueprint in this category is a clear demonstration that we are leading the way. Grohe has made considerable R&D investment in 3D printing to really push the industry forward. We are humbled to be recognized by such a respected editorial voice of the industry.” Blueprint Awards 2019 judge Sir Nicholas Grimshaw called Icon 3D “simple but beautiful and finely detailed products achieved by 3D metal printing.” The Icon 3D explores how visual illusion and spectacle could influence the changing landscape of sanitary ware design in the future. Its components are produced by printing metal using a powder bed laser melting process, a material unique to Grohe, developed by its R&D team. More information is available at www. blueprintawards.co.uk.

bit less avant-garde.” Today, Ong said there’s more room to operate with the local market more mature, evident on “houses getting prettier and cars getting flashier.” It’s also the timing Ong has been waiting for to introduce a concept like Sovrano, together with the three brand it carries. Armani/Casa, Bottega Veneta and Fendi Casa have all made names in the fashion furniture industry for seamlessly translating their brand of luxury on the runway onto home pieces. Each brand has premium offerings in terms of design and price tag, where a P5 million sofa is on a par for the course. Armani/Casa features furniture pieces that define sophisticated comfort through simple lines and perfect proportions with elegant and refined finishes. Meanwhile, Italian high fashion brand Bottega Veneta is renowned for its use of leather and intricate intrecciato pattern. Lastly, Fendi Casa paved the way for the Roman fashion house to launch its line of furniture and home accessories, specifically upholstered furniture, with an elegant, sophisticated and timeless look. Ong believes that luxury home pieces,

including the three brands they carry at Sovrano, have replaced watches, cars and houses as the new status symbol. “If you have a super nice house, you’d like to show it off,” he said. “And you can do it by just buying accents and accessories for the home, like a Bottega Veneta mirror or an Armani/Casa tissue holder that would immediately make your place look new.” Despite the differences in the three brands’ philosophies, Ong assured their partners that each will stand out and work together at the same time at the Sovrano showroom. There are more display spaces in the pipeline for Living Innovations, according to Ong. They want to cater to a wider audience by offering everything from lighting accessories to outside furniture and “everyday things that look very designer.” “Now we’re tackling this super-niche, highend brands, but I think a middle-upper will come somewhere along the line,” he said. But in all of the planned and existing showrooms, Ong maintained that what is displayed are not merely pieces of furniture but a philosophy on how people should approach living spaces.

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Tuesday, February 18, 2020

Oprah Winfrey holds TV discussion on ‘American Dirt’ in Arizona

UCSON, Arizona—Oprah Winfrey’s soon-to-be televised discussion about the controversial novel American Dirt is drawing scrutiny for not inviting some of the book’s harshest Latino critics. The talk show host organized her much-hyped conversation with author Jeanine Cummins on Thursday after inviting around 250 people to the Harkins Theatres Arizona Pavilions in southern Arizona, the Arizona Daily Star reports. The crowd was then directed to another Tucson, Arizona, location and asked to sign a nondisclosure agreement. The discussion will be the next episode in Winfrey’s new Apple TV+ series Oprah’s Book Club, which features personal conversations with authors in front of a live audience. Details of the gathering were not known since the audience was banned from speaking about the event until after the show airs in March. The novel about a Mexican mother and her young son fleeing to the US border had been praised widely before its January 21 release. But anger built over allegations that the book relied on stereotypes, caricatures and material similar to another Latino writer. Latino critics also blasted promotions at book release parties that had floral art centerpieces with barbed wire mimicking the border wall. Oprah chose the novel for her book club shortly after its release, drawing more anger from Latino critics. In a video posted on Instagram following the criticism, Winfrey said she now realizes the book struck “an emotional chord” with Latinos and created a need for deeper conversation. On Wednesday, the group #DignidadLiteraria posted an open letter to Winfrey on the site Literary Hub, calling for deeper conversations about “the continued underrepresentation of [Latino] authors in publishing and in your highly influential book club.” The letter mentioned the Tucson event, and called for a private meeting with Winfrey and their movement. “We urge to you open your mind and heart to actual Latinos the way you have publicly declared you did to Jeanine’s fictional characters,” the letter read. Writer Roberto Lovato, one of the signers of the letter, wrote on Twitter about not receiving an invitation to Winfrey’s Tucson event. “People are starting to enter @Oprah’s ‘all sides,’ completely staged #AmericanDirt spectacle for @AppleTV in Tucson. Though we were not invited and though we are interested in talking re industry, not spectacles, she will be hearing from #DignidadLiteraria,” he wrote. The episode, which is set to debut in March, is the third installment of the series. The first two episodes were hour-long conversations with book club authors Ta-Nehisi Coates and Elizabeth Strout. AP

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Shane Lyons, 32; Molly Ringwald, 52; John Travolta, 66; Yoko Ono, 87. Happy Birthday: Stabilizing your life and positioning yourself for success should be your priorities. Use your intuition and intelligence to sort out the best path to take, and start moving forward. Discarding what you no longer need in your life will help you stay focused on what’s important and ensure that you don’t let your emotions keep you from reaching your objective. Your lucky numbers are 7, 12, 22, 27, 33, 39, 48.

ARIES (March 21-April 19): Share less in order to minimalize opposition. You’ll accomplish the most if you work alone. Adequately prepare before you present your objective. Launching your plans too soon will lead to criticism or theft. Protect your pursuits, passwords and reputation. ««

TAURUS (April 20-May 20): Share information, assess situations and explore possibilities. Your dedication to pursue something you feel passionate about will bring satisfying results that promote positive change. Continue to grow emotionally and intellectually, and recognition for your accomplishments will be yours. «««««

GEMINI (May 21-June 20): Don’t waste time on trivial matters or people who are misleading or playing games with you. A geographical change will inspire you to try something new or to revisit a dream you have yet to fulfill. Don’t fold under pressure. «««

CANCER (June 21-July 22): A change will enhance your personal life. Conversations will lead to decisions that will change your life. A partnership will complement what you are trying to achieve. Expand your knowledge, and update your skills. Live in the moment. «««

LEO (July 23-Aug. 22): Consider what you want. A personal change should be your priority. Let go of anything or anyone holding you back. It’s time to venture down a path that leads to something you want. Your happiness is up to you. Romance is encouraged. «««

VIRGO (Aug. 23-Sept. 22): Enjoy what life has to offer, and be willing to embrace the changes that come your way. It’s time to start something new, but first, complete anything you’ve left undone. The result of purging and forging ahead will be gratifying. «««««

EDC, UP-Diliman launch ‘Wildlife Treasures’ By Rizal Raoul Reyes @brownindio

he Energy Development Corp. (EDC), in cooperation with the Institute of Biology (IB), University of the Philippines (UP) Diliman, launching the book Wildlife Treasures last January 29 at UP Diliman. Richard Tantoco, president of EDC, said the book project is a manifestation of the solid partnership between the two organizations that started 10 years ago when the Lopezcontrolled company tapped UP to help enhance their biodiversity conservation and monitoring program (BCMP). “We owe whatever success, and positive impact that the BCMP has made to the environment and our stakeholders, and to UP IB’s former head and one of the country’s foremost scientists, Dr. Perry S. Ong,” Tantoco said in his remarks. Ong was the former dean of UP Diliman’s College of Science and was one of the country’s biodiversity champions before he

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passed way last year. Among his advocacies was raising awareness on the importance of caring for nature in the academe and the industry as well. Wildlife Treasures, conceptualized by Ong in 2017, went into full production after

EDC finished documenting the 96 Philippine native trees it identified, located and began propagating under its BINHI greening legacy and forest reforestation program. “Doc Perry believed it was high time for the company to chronicle the wildlife biodiversity in all its sites to complete EDC’s legacy,” Tantoco said. The partnership between UP Diliman and EDC resulted in the publication of information on the robust habitat of fascinating species surrounding EDC’s power plants all over the country, numbering 291 birds, 43 bats, 25 other mammals, and 48 reptiles and amphibians, almost half of them endemic to the Philippines. Moreover, other species discovered were the flying foxes in EDC’s Bacon-Manito Geothermal Reservation in Bicol, the flying lemur in its largest geothermal reservation in Leyte, the owl and hornbill of Negros Island where its second geothermal reservation is located, and iconic Philippine Eagle in Davao. EDC and UP-Diliman will donate copies of the book to universities and other institutions, groups and individuals.

LIBRA (Sept. 23-Oct. 22): Stay out of the line of fire. Someone will try to disrupt your life if you are too accommodating or willing to put up with unreasonable demands. Look inward, and make personal growth your priority. Learn from experience. ««

SCORPIO (Oct. 23-Nov. 21): Mingle with people who have a sharp, imaginative mind; good ideas will push you in a new direction. Mix creativity with ambition and drive, and you will find a way to up your game and use your skills to prosper. ««««

i j

SAGITTARIUS (Nov. 22-Dec. 21): Control your emotions. Don’t let anyone know how you feel if you want to remain in control. Spend time on selfimprovement and boosting your confidence, not putting up with people who are critical or demeaning. «««

CAPRICORN (Dec. 22-Jan. 19): A healthy attitude coupled with discipline and a good work ethic will lead to a better lifestyle. Physical fitness and proper diet should be priorities. Be open to suggestions, but do only what you feel is in your best interest. «««

AQUARIUS (Jan. 20-Feb. 18): Relax, and take a moment to review what’s come and gone. Consider what you want and what you are willing to give. Draw the line between helping because you want to and being taken advantage of because you are too kind. «««

PISCES (Feb. 19-March 20): Reach out to someone who needs a helping hand. Your input will make a difference and encourage a promotion or a boost to your reputation. Someone from your past will offer information that will lead to a unique opportunity. «««« Birthday Baby: You are perceptive, humorous and diligent. You are determined and loyal.

‘duck out of sight’ by jules P. Markey The Universal Crossword/Edited by David Steinberg

ACROSS 1 Groups of whales 5 Boggy lands 9 “SNL” bit 13 Act as a getaway driver, say 14 Budget alternative 16 Numbers game? 17 Philosopher Descartes 18 Like the Statue of Liberty at night 19 Zendaya voiced one in “Smallfoot” 20 *Having noble heritage 23 D.C. insider 24 Captain’s record 25 Disgusting 27 *Boastful words to a rival 34 “Golly!” 35 “Auld Lang ___” 36 Org. with a Brain Training app 37 Stoker of horror 39 Sometimes-verde dip 42 Wedding cake level 43 Cuts into cubes 45 They’re above abs 47 ___-Magnon 48 *Gets rich in an unethical way 52 Tractor brand

53 Savings for one’s golden years, briefly 54 Boiling or fuming 56 “You’re blocking my view!,” or a hint to the starred answers 62 Long-legged wader 64 Was behind the wheel 65 Light bulb, in comics 66 Poodle jumper? 67 Icicle locations 68 City’s smaller relative 69 Suffix with “slug” or “beer” 70 Go by 71 Part of MFA DOWN 1 Attire 2 Eve’s second son 3 Course list? 4 Coldly determined 5 Scapegoats 6 “Call Me by Your Name” role 7 Alliance that includes the U.S. and U.K. 8 Mark left by buttery fingers 9 View from a sunroof 10 Has at the ready

1 Really digging 1 12 Work, work, work 15 Sydney ___ House 21 Reactions to bad jokes 22 Kansas State quarters? 26 Editor’s override 27 Treble clef lines 28 Eagle’s nest 29 Earl Grey holders 30 Molecule hidden in “internal” 31 Does some volunteering 32 App’s clientele 33 Deck with a card called The Devil 38 Ration (out) 40 Part of a match 41 Sore feeling 44 What chow chows do seasonally 46 Feudal worker 49 Wear away 50 Prepare to gift a gift, maybe 51 Tokyo airport 54 Tick off 55 Sufficiently skilled 57 PBS series since 1974 58 Currier’s partner 59 Garbage truck emanation

0 Small critter at a pond 6 61 Suns 63 Took a load off

Solution to yesterday’s puzzle:

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Tuesday, February 18, 2020

‘Sonic’ speeds to $57-M debut; ‘Parasite’ sees big Oscar bump Paramount Pictures’ Sonic the Hedgehog came in well above expectations, scoring a record as the highestgrossing opening for a video game adaptation with a $57 million debut in North American theaters. AP

By Jake Coyle The Associated Press

EW YORK—The redesigned Sonic the Hedgehog showed plenty of teeth at the box office, speeding to a $57 million debut, according to studio estimates Sunday, while Parasite saw one of the largest post-Oscars bumps in years following its best picture win. Paramount Pictures’ Sonic the Hedgehog came in well above expectations, especially for a movie that just months ago was a laughing stock. After its first trailer was greeted with ridicule on social media last year, Sonic was postponed three months to give its title character a design overhaul—including fixing Sonic’s eerily human teeth. The makeover worked and audiences responded by making Sonic the Hedgehog the weekend’s top film and the highest-grossing opening for a video game adaptation, not accounting for inflation. For Paramount, it’s a welcome success following misfires such as Gemini Man and Terminator: Dark Fate. The studio estimates Sonic will gross $68 million over the four-day Presidents Day holiday weekend. “If you don’t listen to your customer, and this goes for any business, then you’re going to fail,” said Chris Aronson, distribution chief for Paramount. “We retooled Sonic in a way that was obviously very satisfying for the fans and they were very forgiving. Now that they’ve seen the movie, they love the movie. It all worked out.” The Sega video game adaptation, directed by Jeff Fowler, drew decent reviews (63 percent fresh on Rotten Tomatoes) and an A CinemaScore from moviegoers. The $87-million production costars

Jim Carrey as Dr. Robotnik with Ben Schwartz supplying Sonic’s voice. Bong Joon Ho’s Parasite had its biggest weekend in its 19th week of release. Neon put Parasite into its widest release yet (2,001 theaters) following its historic win at the Oscars. (Parasite was the first non-English-language film to win best picture in the 92-year history of the Academy Awards.) And despite the film already being available for weeks on digital platforms and on DVD, its $5.5 million weekend is the largest Oscars bump for a bestpicture winner since Gladiator in 2001. Last week ’s opening of Birds of Prey followed up its limp debut by sliding to second with $17.1 million. Following its disappointing opening, some theaters retitled the movie Harley Quinn: Birds of Prey, instead of Birds of Prey (and the Fantabulous Emancipation of One Harley Quinn). It was a busy weekend in theaters, with a handful of other new releases—The Photograph, Fantasy Island, Downhill—seeking to capitalize on both Valentine’s Day on Friday and Presidents Day on Monday.

Fantasy Island, the Blumhouse horror remake of the ‘70s TV show, fared the best, collecting $12.4 million in ticket sales despite terrible reviews. Sony Pictures handled the release of the low-budget, PG-13 film, which earned just a 9% fresh score on Rotten Tomatoes. Universal Pictures The Photograph, a romance starring Issa Rae and Lakeith Stanfield and produced by Will Packer (Girls Trip, Ride Along), opened with $12.2 million. The film, written and directed by Stella Meghie, cost $15 million to make. Downhill, from Disney’s Fox Searchlight Pictures, debuted with $4.7 million, a modest start for a film starring Julia Louis-Dreyfus and Will Ferrell. A remake of the acclaimed Swedish film Force Majeure by Ruben Östlund, Downhill didn’t do great with critics but fared even worse with audiences. They gave it a D CinemaScore. Neon followed up its Parasite Oscar win with the Valentine’s Day release of Portrait of a Lady on Fire, one of 2019’s most acclaimed films. Following a one-week qualifying run in December, Celine Sciamma’s French period romance opened in 22 theaters with a strong per-

The 45th International Bamboo Organ Festival

very five years, the International Bamboo Organ Festival prepares a larger-thannormal program. Invited to this 45th edition (February 20-26, 2020) is the Belgian-based early music ensemble InAlto, with instruments which were once heard in 17th century Intramuros. They will accompany the Villancico Vocal Ensemble under Beverly Shangkuan-Cheng in a program with some major works for double choir by Monteverdi and Schütz. The soloists are soprano Stefanie Quintin-Avila and alto Michelle Mariposa. This exceptional program can be heard during the gala concert (invitational) and on Februar y 21 and 23. On Februar y 24, the Belgian organist Bernard Foccroulle will perform at the Bamboo Organ in an organ recital entirely dedicated to Spanish organ music, together with the ensemble InAlto. The visit of InAlto has been made possible by Wallonie-Bruxelles-International, promoting the relations with the French-speaking community of Belgium. Prior to their performances (February 17-19, 1-4 pm), the members of the InAlto ensemble will conduct masterclasses, open to all music students

InAlto Ensemble and music lovers. Admission to these seminars is free. Registration is requested in order to prepare the rooms for each of the 5 different seminars. The seminars will be held at the Bamboo Organ church compound.

‘Kingdom’ Season 2 on Netflix

etflix has confirmed that the highly-anticipated Season 2 of its Korean original series Kingdom is set to premiere globally on March 13, unveiling the main poster and an accompanying motion key art. An epidemic turns Joseon into hell on earth amid the ravages left by the ever-growing greed of the Cho family. In Kingdom Season 2, Crown Prince Lee Chang continues his desperate, bloody struggle, with no one he can trust to help him. The main poster depicts the main characters on a rooftop, fleeing from a flock of zombies who are growing exponentially in number. This scene recalls the shocking finale of Season 1: an imminent onslaught by an army of zombies who, despite the break of dawn, do not fall back to sleep in the daytime as they had before. The tagline “Blood Will Spill” foreshadows the increasing terror experienced by those running for their lives and running out of options. Each character’s face is marked by hopeless desperation, but they are all determined to survive the agonizing struggle that awaits them in

Season 2 of Kingdom. The accompanying motion key art depicts the main characters: Crown Prince Lee Chang, Cho Hak-ju, Seo-bi, Mu-yeong, Yeong-sin, Beom-pal, and the Queen. Joining the cast this season is the head of the Royal Commandery Division, Min Chi-rok. Lee Chang is tougher now and more determined, as he fights to protect his people from the growing legions of zombies. Cho Hak-ju continues to be power-hungry, while Seo-bi is on the brink of a breakthrough with the resurrection plant. Mu-yeong is still steadfastly looking after Chang, and Yeong-sin is fiercer than ever. Not to be forgotten are the terror-stricken Beom-pal and the Queen with her perpetual deadpan expression. Season 2 ramps up the tension with the introduction of Min Chi-rok, who investigates a suspicious murder in Hanyang. Kingdom Season 2 continues to captivate with the story of Lee Chang’s journey back to Hanyang in search of the roots of the plague and the bloody struggle instigated by the secret plot at the heart of power in Joseonera Korea.

The closing concert of the festival will be held at the San Ezekiel Moreno Oratory at the Villar Sipag compound on February 26, in memory of Johann Trummer, priest, theologian and organist, a great benefactor of the organ culture in the Philippines who passed away last July 18. The entire program will be dedicated to the music of Johann Sebastian Bach, which he promoted and taught. The performers include organist Armando Salarza, Villancico Vocal Ensemble, Las Piñas Boys Choir and Manila Baroque Ensemble, under the general direction of Beverly ShangkuanCheng. The 45th Bamboo Organ Festival is made possible with the NCCA, the City Government of Las Piñas, and the Villar Sipag Foundation as major sponsors. Tickets for the February 21, 23 and 24 programs are available at P700, P500, and P300. Tickets for the February 22 concert are at P700 and P300, and for February 26 the ticket is priced at P300. Tickets are also available at Tickenet Online and SM Tickets. More information is available at 8825-7190 or 8820-0795.

theater average of about $20,000. Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore. Where available, the latest international numbers for Friday through Sunday are also included. 1. Sonic the Hedgehog, $57 million ($44.3 million international). 2. Harley Quinn: Birds of Prey, $17.1 million ($23 million international). 3. Fantasy Island, $12.4 million ($7.6 million international). 4. The Photograph, $12.3 million. 5. Bad Boys for Life, $11.3 million ($11.1 million international). 6. 1917, $8.1 million ($6.4 million international). 7. Jumanji: The Next Level, $5.7 million ($1.9 million international). 8. Parasite, $5.5 million. 9. Dolittle, $5.1 million ($8.8 million international). 10. Downhill, $4.7 million.

Full board of France’s Cesar film awards steps down

ARIS—The entire leadership of the Cesar Awards, France’s version of the Oscars, has stepped down in a spat over both its opaque decision-making process and controversial director Roman Polanski, whose new film leads this year’s nominations. The decision by the academy’s influential board to resign en masse came Thursday evening, just two weeks before the glitzy 2020 award ceremony. Multiple nominations for Polanski’s An Officer and a Spy triggered calls by feminist groups for a boycott of the awards as an expression of outrage against the ceremony and the director. He was accused of sexual assault by a French woman just three months ago, allegations he denies. Nominating Polanski’s movie in 12 categories this year represented a last straw for the already-roiled academy board, who had expressed frustration over the closed nature of the age-old award’s decisionmaking structure. “To honor the men and women who made cinema happen in 2019, to find calm and ensure that the festival of film remains just that, a festival, the board ... has decided to resign unanimously,” the academy said in a statement. “This collective decision will allow complete renewal,” it added. Polanski has been a fugitive from the US for more than four decades after pleading guilty in 1977 to unlawful sex with a 13-year-old girl. He fled the US in 1978. But in November, French daily Le Parisien reported claims from a French woman that she was assaulted at age 18 in 1975 by Polanski at his chalet in Gstaad, Switzerland. Several interviews with actors Jean Dujardin and Louis Garrel were cancelled because of the controversy, but yet it did nothing to lessen the movie’s meteoric rise to the top of the Cesar’s nominations list. The awards ceremony is set for February 28. The unprecedented walkout comes just days after hundreds of French cinema figures published an open letter in newspaper Le Monde, branding the Cesar Academy “a vestige of an era that we would like to be over.” They claimed in the letter to have “no voice” in how the “elitist and closed system” operates. AP

Art

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D4 Tuesday, February 18, 2020

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Polish government ends standoff over Jewish museum chief ❶ People visit the POLIN Museum of the History of Polish Jews in Warsaw, Poland, on Wednesday, February 12. PHOTOS: AP

❷ A view of the front of the POLIN Museum.

By Vanessa Gera The Associated Press

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ARSAW, Poland—Poland’s government on Friday accepted a compromise candidate as the new director of Warsaw’s landmark Jewish museum, ending a long impasse that had raised concerns over the popular institution’s future. The POLIN Museum of the History of Polish Jews has been without a permanent director for nearly a year. Showcasing the 1,000-year Jewish presence in Polish lands, it is one of Poland’s most-visited museums and among the world’s leading Jewish museums. The Culture Ministry said in a statement that it agreed to approve a three-year term for Zygmunt Stepinski, formerly the deputy director and since last February, the acting director. The decision ends a standoff with the two other co-founders of the museum, the city of Warsaw and a private Jewish historical association, who had both fought to keep its previous director, Dariusz Stola. The government, however, opposed Stola because they believed he had been too openly critical of its policies. The city of Warsaw, led by a liberal mayor, and the Jewish association proposed Stepinski as a compromise after realizing the government would not back down. Stepinski “has many years of experience in the field of management, including in the field of cultural institutions, he enjoys the trust of the team and the museum’s donors and Jewish communities in Poland and abroad,” said Warsaw mayor Rafal Trzaskowski and Piotr Wislicki, the head of the Association of the Jewish Historical Institute, which represents private donors. Stola guided the museum from the opening of its permanent exhibition in 2014 until February 2019, a time when it won multiple international awards. He was highly valued by private museum donors. Though Stola won a competition last May for a second term, Culture Minister Piotr Glinski refused to re-appoint him. That left the museum under the management of Stepinski since then, but his interim tenure by law must expire on Feb. 22, adding urgency to finding a resolution. With that deadline approaching, Stola agreed earlier this week to step aside. He said he was acting to prevent any damage to the institution, though he insisted it was his legal right to be director and said the government had used “false pretexts” against him.

The museum has a gallery on the Holocaust, but its main story is the development of a community that found refuge in Poland after fleeing persecution in Germany and elsewhere and grew into the center of Jewish life in Eastern Europe. The institution’s creation was long hailed as a sign of how Poland, after throwing off communism, sought to embrace its former multicultural past and celebrate its centuries-old Jewish civilization. It has attracted hundreds of thousands of visitors annually, including many Poles who discovered forgotten chapters in their own nation’s past, and Jews from around the world learning more about their own roots. The recent conflict over its leadership reflected how much has changed under a populist government willing to flout democratic norms—in this case its obligation to abide by the results of the competition that Stola won—and snub international partners. The greatest concern had been whether the museum would be able to independently decide on its programming under a conservative and nationalist government that has been placing loyalists at the helm of museums and other cultural institutes. Tad Taube, a Polish-born American who is one of the museum’s top donors, called the solution “a

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bittersweet pill” but said it was much better than having Glinski appoint the director without the consensus of his partners. Praising Stepinski as an “able administrator,” he said the most important thing is that “we now have a leader for a great museum that was heretofore in a state of flux for almost a year.” Barbara Kirshenblatt-Gimblett, a professor emeritus of Jewish studies at New York University who oversaw the development of the museum’s core exhibition, said Stepinski has served

the museum well and will continue to do so. She said he had been responsible for many of the museum’s successes, including a yearlong program that commemorated the 50th anniversary of an anti-Semitic campaign sponsored by the country’s communist regime in 1968. “He has a very deep connection to the history of Polish Jews. He is loyal, capable and dedicated, and he has been with the museum since it opened,” Kirshenblatt-Gimblett said.

‘Alas ng Bayan’ exhibit opens in UP College of Fine Arts for Arts Month

From left: UP College of Fine Arts Prof. Ninel Constantino, Dean Mitzi Marie Aguilar-Reyes, Renato Constantino Jr., Chuck Baclagon, John Erhard Guarin, Celine Tabinga, Red Constantino and Prof. Dayang Yraola at the opening of ‘Alas ng Bayan’ at the University of the Philippines College of Fine Arts in Diliman, marking National Arts Month.

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Mario Menez, Louie Locsin, Lior Liechtenstein, Celia Molano, Lyn Gamboa, and Jose Molano, Jr.

❷ Rustan’s For The Arts presents ‘Flourishing’ featuring the works of Gig de Pio

he pioneering art exhibit Alas ng Bayan is on view at the University of the Philippines (UP) Diliman’s College of Fine Arts, marking National Arts Month. “Alas ng Bayan couldn’t be more timely in these trying times. We look for heroes, we look for hope, we look for a future. To look back may help us move forward,” UP CFA Dean Mitzi Marie Aguilar-Reyes said as she opened the exhibit. It is on view at the college’s Corredor Gallery until February 19. The ‘herstory’ exhibit, jointly organized by the Institute for Climate and Sustainable Cities (ICSC), the Constantino Foundation, and 350 Pilipinas, features the paintings of five Filipina heroines who resisted national oppression, social injustice and false gender narratives across different junctures of Philippine history: Gregoria de Jesus (Lakambini ng Katipunan), Apolonia Catra (lone recorded Filipina soldier with Macario Sakay’s forces), Remedios Gomez-Paraiso (Hukbalahap’s Kumander Liwayway), Martial Law activist Lorena Barros, and slain Bataan coal activist Gloria Capitan. “How can we use our talents to contribute to history and safeguard the truth for our society?” John Erhard Guarin, artist and 350 Pilipinas volunteer, asked the Fine Arts students attending the launch.

CONTEMPORARY ABSTRACTS TAKE CENTER STAGE

ith the continuing success of the Rustan’s for the Arts series, which has highlighted the collections of world-class Filipino artists Ben Cabrera, Al Perez, Paulina Luz Sotto, Fernando Amorsolo, Arturo Luz and Anita Magsaysay Ho, the spotlight on its first exhibit of the year is on the contemporary works of abstract artist Gig de Pio. Rustan’s organized a recently-held affair to launch “Flourishing”, a celebration of creativity featuring De Pio’s latest works, where several pieces were created specifically for the Rustan’s for the Arts. In attendance at the gathering were Cid Reyes, Gus Albor, Junyee, Al Perez, Dante Silverio, Heber Bartolome, Louie Locsin, Lior Liechtenstein, Lyn Gamboa, Celia Molano, Malee Bigornia, Richie Macapinlac, and Ross Capili, to name a few. The collection is a movable visual feast, which can be viewed at Rustan’s Makati until March 31, and will move to Rustan’s Shangri-La in April. The paintings reflect the awardwinning artist’s view of the world that makes order out of chaos. The artist, who made his studies from materials that society has deemed as disposable, describes his collection as an appreciative view of the universe. “It is a matter of perception and where the point of reference is; just a matter of finding gestalt in the random of things and events around the perceiver,” says De Pio. His abstracts on display, which include an “installation painting” piece, illustrates the randomness of occurrences and encounters at intersections, which may happen repeatedly to become events. Among his mentors were National Artist Napoleon Abueva, who was his professor for

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sculpture; National Artist Vicente Manansala, whom he assisted for the mural at the Coconut Planters Bank building; and Jose Joya, whom he assisted for the mural at the Philippine International Convention Center (PICC). De Pio has mounted several successful shows including a solo at The Crucible.

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“Alas ng Bayan is about memory, women and history, calling to action young people as our nation grapples with some of the most serious challenges in our era such as climate change,” said Celine Tabinga, ICSC special projects coordinator. “Done in the style of tarot cards, the Alas paintings return to center stage largely under-recognized women whose contributions to Philippine nationhood are colossal. The works are meant to provoke debate over current understanding of heroism and citizenship, and they challenge myths in Philippine history as well as prevailing notions of toxic masculinity and cross-eyed, myopic nationalism,” said Red Constantino, managing director of the Constantino Foundation. For March, Women’s Month, Alas ng Bayan will be displayed in the Polytechnic University of the Philippines–Manila Campus from February 24 to March 6, and in UP Manila’s Museum of A History of Ideas from March 10 to 21. It was first hosted last November by the Linangan Gallery of the Constantino Foundation, then the UP Asian Center, and more recently by the De La Salle University’s History Department and The Libraries last January 27 to 31.