BusinessMirror February 19, 2019

‘P10-B FUND TO EASE DROP IN RICE PRICES’

By Bernadette D. Nicolas

M A FARMER walks on a rice field in Tarlac in this file photo. President Duterte has signed into law the measure removing quantitative restrictions on rice imports and shifting to a regime of tariffs. The rice tariffication law is drawing anxiety from several sectors, however, despite its vaunted benefits to the majority of Filipinos. NONIE REYES

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

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ALACAÑANG on Monday told farmers that they will have to bear with the drop in farm-gate prices of unmilled rice, at least until the government releases the entire amount of a fund that will bankroll interventions for the rice sector.

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo made the pronouncement when asked what the government intends to do to help farmers who may incur losses due to the recent drop in the farm-gate price of palay.

Farmers and other rice industry stakeholders said the average farmgate price of unmilled rice had dropped to P14 per kilogram, from P20 per kg.

With the signing into law of the rice tariffication bill and the start of the harvest season, Philippine Farmers Advisory Board Chairman Edwin Y. Paraluman said farm-gate prices could decline further.

“There is a P10-billion fund under the law. So that P10 billion fund can be used [to help farmers cope with the drop in prices],” Panelo said in a news briefing on Monday.

Dubbed the Rice Competitiveness Enhancement Fund (RCEF), the money will be used for farm equipment, rice

seed development propagation and promotion, and for credit assistance.

However, the RCEF will not be immediately available as the rice liberalization law states that it “will be automatically credited to the Special Account in General Fund of the National Treasury that will be in place within 90 days upon effectivity of this Act.” Budget Secretary Benjamin E. Diokno also told the BusinessMirror that the government has released P5 billion of the RCEF from the 2018 budget but the remaining P5 billion is included in the proposed 2019 budget, which has yet to be approved by the President.

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Tuesday, February 19, 2019 Vol. 14 No. 132

Senators set to refile vetoed tax amnesty bill

By Butch Fernandez @butchfBM & Bernadette D. Nicolas @BNicolasBM

S

ENATE leaders on Monday lamented the presidential veto of the general tax amnesty provisions under the Tax Amnesty Act. They blamed the President’s liaison officer in Congress for not telling lawmakers early enough that the Palace wanted the bank secrecy lifting to be approved first in order to prevent tax evaders from using the amnesty with the secrecy as shield.

The Palace had also envisioned a tax amnesty with bank secrecy lifting as part of a slew of safeguards against tax evasion, seen to generate over P70 billion in revenues.

On Monday, lawmakers signalled their determination to refile the vetoed legislation, this time

with a clearer understanding of what the Executive really wants.

President Duterte signed late Friday the Tax Amnesty Act of 2019 but vetoed two provisions for a general tax amnesty, saying that without the lifting of bank secrecy, this would only create an environ-

ment conducive to tax evasion. He retained only the provisions on estate tax amnesty and the amnesty on delinquency taxes.

Fi n a nce S e c re t a r y C a rlos Dominguez III had explained at the weekend that, “The DOF [Department of Finance supports a

Continued on A2

HE utilization of coconutlevy funds for the benefit of farmers has again hit the wall with the President vetoing his priority bill creating the proposed Coconut Farmers and Industry Fund on the ground that it may violate the Constitution.

This was the second time that the President exercised his power to veto a bill in its entirety. The first one he vetoed was a related bill, particularly on strengthening the Philippine Coconut Authority (PCA). He justified that first veto by citing a lack of proper safeguards against corruption.

While the coconut levy is one of the priority bills of the Duterte administration, the President also concluded after much deliberation that the bill is “lacking in vital safeguards to avoid the repetition of painful mistakes committed in the past.”

“In view of these considerations, I am constrained to veto the above-mentioned Enrolled Bill, even as I am hopeful that Congress and the Executive will continue working together towards a formulation of the relevant bill that is acceptable to all,” Duterte said in his veto message addressed separately to the Senate and the House of

Representatives.

He pointed to the establishment of an effectively perpetual Trust Fund in the Senate Bill 1233 and House Bill 5745 as the provision which was considered violative of the Constitution.

Under Article VI, Section 29(3) of the 1987 Constitution, “All money collected on any tax levied for a special purpose shall be treated as a special fund and paid for such purpose only. If the purpose for which a special fund was created has been fulfilled or abandoned, the balance, if any shall be transferred to the general fund of the Government.”

Moreover, Duterte said the absence of a limit on a covered land area for entitlement to the benefit of Trust Fund “may disproportionately benefit wealthy coconut farm owners more than the smallholder farmers who desperately need the government’s affirmative assistance.”

Last, he lamented that the broad powers given to the PCA “undermine relevant regulations and safeguards that were established precisely to avoid abuses.”

The second veto comes months after senators made a last-ditch effort to avert it.

Last October, senators sought See “Coco levy,” A2

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₧76.6B T

The direct and indirect revenues expected to be generated from a tax amnesty that includes what the Palace has sought: the lifting of bank secrecy and the automatic exchange of information on tax data general tax amnesty for everyone with pending tax cases; however, like what we have been advocating in Congress, the President saw it fit that this happens with the corresponding tax administration measures to strengthen enforcement against current tax evasion—the lifting of bank secrecy laws and setting the legal framework for the automatic exchange of information mechanisms.

Thus, the general tax amnesty

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HE interagency Infrastructure Committee (Infracom) has approved for recommendation to the President an Executive Order (EO) on Water, as well as the use of the Project Development and other Related Studies (PDRS) Fund for new project studies to be completed this year.

On Monday, National Economic and Development Aut hor it y ( Ne d a) O f f ice r i n Charge of Investment Prog ramming Jonathan L . Uy said the EO on Water was the major item that the Infracom approved during the meeting.

The EO will be forwarded to the Executive and Cabinet secretaries before submission to the President for his approval.

T he EO w i l l c reate t he

‘Perpetual’ trust fund in coco-levy bill leads to presidential veto

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See “Rice prices,” A2

National Water Resources Council (NRWC) as an interim solution pending the passage of the proposal to create the Department of Water Resources (DWR) and Water Regulatory Commission (WRC). Uy said the NWRC and eventually the DWR and WRC will address all aspects of water use in the Philippines —water and sanitation, water rights, water quality, and even flood control.

Earlier, former Environment Secretary Elisea Gozon, the lead author of the Water EO and the bill to create the Department of Water, said the proposal to create a separate Department of Water has been around since the time of former President Fidel V. Ramos. However, it was only now under the Duterte administration that it was given serious attention.

See “Infracom,” A2

DOT unveils ‘refreshed’ PHL brand campaign

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

G

been stripped away.

“Almost all of the main functions of the NFA have been removed and this would mean job losses for the employees,” he said in a news brietfing on February 18, after various rice industry sta keholders staged a “Black Monday” protest in front of the agency’s office.

UIDED by its overarching program of sustainable tourism, the Department of Tourism (DOT) on Monday launched a refreshed Philippines brand campaign, but still anchored on the slogan “It’s More Fun in the Philippines.”

At the National Museum of Natural History, the old home of the DOT, Tourism Secretary Bernadette Romulo Puyat walked guests through the framework of the refreshed campaign, which intends to use photos and videos from tourists around the world of their visits around the Philippines.

“It’s a 100-percent crowd-sourced campaign made entirely by people who have experienced firsthand why it’s more fun in the Philippines,” she said.

T he refreshed campaig n was inspired by the first one launched in 2012, where the public was encouraged to make their own memes using the It’s More Fun in the Philippines slogan, garnering over 4.3 million images to date.

See “NFA,” A2

Continued on A2

INTERIOR Secretary Eduardo Año joins Tourism Secretary Bernadette Romulo Puyat as the Department of Tourism unveils its new logo and its new rendering on the theme “It’s More Fun in the Philippines,” as part of their campaign launch held at the National Museum for Natural History in Manila. ROY DOMINGO

NFA employees eye lawsuit over job loss

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ENURED employees of the National Food Authority (NFA) are mulling over their legal options following the enactment of the rice trade liberalization law, which they claim could strip them of their jobs.

N FA E m p l o y e e s A s s o c i ation (NFAEA) Central Office President Maximo M. Torda said thousands of tenured employees

could be displaced because of the deregulation of the NFA, as the food agency would need lesser manpower to fulfill its new role under Republic Act (RA) 11203.

Torda said they see the deregulation of the NFA as a steppingstone to eventually abolish the food agency, since the majority of its main functions have already

n JAPAN 0.4749 n UK 67.7564 n HK 6.6820 n CHINA 7.7400 n SINGAPORE 38.6604 n AUSTRALIA 37.4152 n EU 59.2666 n SAUDI ARABIA 13.9841

Source: BSP (18 February 2019 )

News

BusinessMirror

A2 Tuesday, February 19, 2019

₧600-M Naia 2 makeover completed in Q1 of 2020 T

By Lorenz S. Marasigan

@lorenzmarasigan

HE Department of Transportation (DOTr) aims to complete the P600million makeover of the Ninoy Aquino International Airport (Naia) Terminal 2 by the first quarter of 2020, a government official said on Monday.

Manila International Airport Authority (Miaa) General Manager Ed V. Monreal said with the renovation of Naia 2 now in “full swing,” the government expects project contractor A.G. Araja Construction and Development Corp. to complete the facelift initiative

by March next year.

“We started last September 2018 and despite the challenges, we shall proceed as planned. I say challenge because we are business as usual despite ongoing works.

We hope to deliver on our promise to finish everything by March

next year,” he said.

The project involves the replacement of damaged floor finishes, and the restoration and chemical cleaning of stained floor finishes in the arrival and departure passenger movement areas.

Aside from these, the contract also calls for the replacement of damaged ceilings, baggage claim area and elevated roadway; and the repair of 32 skylight roofing materials.

The contractor will also upgrade the walls, columns, beams and soffit finishes at the arrival and depar-

ture passenger movement areas, as well as the aerobridge areas and elevated roadways.

Replacement of glass doors at the predeparture gates and fixed bridge gates, and cleaning and polishing of metal frames, metal louvers and claddings will also be undertaken.

Monreal said a marked improvement will soon greet passengers with the expansion of the departure check-in hall and the arrival baggage area.

The work includes the construction of a drop wall, installation of structural framing, installation of new glass wall panels and partitions, glass doors and metal ceiling panels.

To complement the expansion of these two areas, additional air-conditioning system, power, lightings, fire protection, elect ron ics a nd commu n ic at ions systems will also be installed.

The contractor will also build a power room to host additional power supply requirements.

“Given the spatial constraints that we have in Terminal 2 vis-à-vis the growing passenger traffic, we assure air travelers that we are doing all we can to be of better service to them. We appeal to all airport users to bear with us at this time.”—Monreal

Likewise, it will fix and waterproof exterior ledges, walls, beams, soffit, pathways and pocket gardens, and add tubular bars at the bottom of existing railings at the well-wishers area.

Display systems and public address system will also be improved.

“Given the spatial constraints that we have in Terminal 2 vis-à-vis the growing passenger traffic, we assure air travelers that we are doing all we can to be of better service to them. We appeal to all airport users to bear with us at this time,” Monreal said.

Senators set to refile vetoed tax amnesty bill Continued from A1

provisions were vetoed. The President thus encourages Congress to pass another general amnesty law with these provisions,” he added.

The President said in his veto message, “The general amnesty program is meant to give taxpayers a fresh start as well as to signal the start of a fair tax enhancement campaign by the tax authorities. It is not meant to be abused for the gain of the few and the loss of the rest of the citizenry.”

Such safeguards against tax evasion “are estimated to contribute P76.6 billion to the public funds in the next five years, which we hope to use to better our infrastructure and services,” he added.

PLLO blamed

SENATE leaders were miffed, not by the presidential veto itself but the apparent failure of the Presidential Legislative Liason Office (PLLO) to convey the Executive’s position on the tax amnesty issue when lawmakers were deliberating the revenue measure.

Senate President Vicente Sotto III minced no words in pinning the blame on the PLLO when sought for his reaction to Duterte’s veto.

Senators said they were belatedly informed that what the President reportedly wanted was for Congress to first pass a law lifting bank secrecy restrictions in cases involving fraud.

Asked if the Senate will front-load the Palace-desired bills soon as Congress resumes session on May 20, senators sidestepped the query, indicating it is all up to the PLLO. “This is again another testament that we need to revitalize or even upgrade the PLLO,” Sotto said in a Viber message to Senate reporters.

Sotto bewailed that “this is the nth time that we do not know what the Executive

Infracom. . .

Continued from A1

Gozon said these developments are timely, as the country’s water resources are already under stress. A presentation at the Infracom showed water availability per capita was at 1,907 cubic meters (m3) per year as of 2000.

However, using 2018 population estimates of 107 million, per capita availability of water is 1,533 m3/year.

“This means that the country already falls below the international ‘water stress’ threshold of 1,700 m3/year and is fast approaching the ‘water scarcity’ threshold of 1,000 m3/year,” the presentation stated.

PDRS funds MEANWHILE, the Infracom also approved the use of the remaining P169.87 million from the 2018 PDRS to finance 11 project studies this year.

Department wants from us.”

The Senate President pointed out that “like all the other bills vetoed, we could have addressed the provisions that the Executive department does not want to execute.”

He added: “the Legislative department does not consult a crystal ball to know [what the President wants from Congress].”

The Senate leader clarified, however, that “it is up to the President.”

“If we want to keep on wasting time, not to mention money, on vetoed bills then let’s just sit and relax,” Sotto added.

The signed measure, Republic Act 11213, seeks to enhance revenue administration and collection by granting an amnesty on all unpaid internal revenue taxes imposed by the national government for taxable year 2017 and prior years. This is with respect to estate tax and other internal revenue taxes and tax on delinquencies.

‘Prone to abuse’

PRESIDENTIAL Spokesman and Chief Presidential Spokesman Salvador Panelo said in a statement on Monday the President believes that the vetoed provisions would be “prone to abuse by those who would declare assets or net worth not reflective of their real income, in light of present laws mandating confidentiality of all bank deposits.”

In his veto message to the House of Representatives and the Senate, the President also urged Congress to pass another general tax amnesty bill that includes the lifting of bank secrecy for fraud cases, the inclusion of automatic exchange of information and safeguards to ensure that asset or net worth declaration are truthful.

“Without the provisions breaking down the walls of bank secrecy, setting the legal framework for us to comply with international standards on exchange of information for tax

Documents obtained by BusinessMirshowed that two projects will be allocated P106.2 million.

These are the studies for the Formulation of Tourism Infrastructure Development Plans in Top Tourist Destinations in the Philippines, worth P86.2 million, and the study to operationalize and improve the sanitation/septage management system of Baguio City (P20 million).

The study on tourist destinations was identified by the Tourism Infrastructure and Enterprise Zone Authority (Tieza) and will be implemented in Baler, Aurora; Malapascua Island, Cebu; Guimaras Island; and Cuatros Islas, Leyte. “[The study] aims to determine the carrying capacities of top tourist destinations in the Philippines and identify the necessary infrastructure programs and projects to enhance the utmost potential of said areas as a vibrant tourism and/or investment ror

purposes, and safeguarding against those who abuse the amnesty by declaring an untruthful asset or net worth, a general amnesty that is overgenerous and unregulated would create an environment ripe for future tax evasion, the very thing we wish to address,” Duterte said.

Citing the government’s experience with the 2006 tax amnesty under Republic Act 9480, the objectives of an amnesty such as raising revenues and expanding the tax base cannot be fully achieved without safeguards and measures against tax evasion.

Besides, the President also said this could lead to the government incurring long-term substantial revenue losses.

Working with Congress

DOMINGUEZ said earlier that the DOF will continue to work closely with Congress in line with the creation of the general amnesty measure, which will include the proper safeguards as being the lifting of the bank secrecy and automatic exchange of information provisions.

“We will work with Congress to pass a general tax amnesty with the proper safeguards, such as the lifting of bank secrecy provisions and the AEOI, if not in this Congress, then in the next.

We shall work with them, like we always have, to have it passed immediately,” he said.

He also pointed out that the vetoed general amnesty provisions will only generate an estimated P6.8 billion in revenues, as opposed to a measure that includes the two safeguarding provisions, which is estimated to generate around P13.6 billion in revenues.

“Plus, the AEOI and lifting of bank secrecy could raise up to P76.6 billion in direct and indirect revenues in the next five years. Moreover, for 2019 there would be an indirect revenue loss of around P53 billion from enforcement activities if the general tax amnesty was not vetoed,” he added.

attraction/destination while maintaining its integrity, competitiveness, security and resiliency from disasters,” the documents said.

The other project on the study of the sanitation and septage management system of Baguio City will be done in cooperation with the city government and the Baguio Water District.

The project aims to develop a concept study for sanitation development in the City of Pines in the form of sewage, septage management program or projects in the next 25 years.

The study will also include options and value engineering alternatives, business case and pre-feasibility studies for the proposed programs. It will also study capacity building of relevant agencies, including the Baguio City government and BWD. The remaining P63-million fund will be used for other studies. There are currently nine projects in the

pipeline, including possible studies on the updating of the Bicol River Basin Master Plan; Pre-Feasibility Study for the Proposed Cagayan Valley Eastern Seaboard Highway; Cotabato City Drainage Master Plan; and Cagayan Special Economic Zone and Freeport Land Use and Master Plan.

Other possible studies include the Pre-FS Study for the proposed Cagayan Valley Railway System Project; Northern Mindanao Government Center Master Plan Formulation; Ormoc City Flood Control Project; Ormoc City Waterworks System Project; and Gusali ng Wika.

The priority in this pipeline will depend on the score of each project based on PDRS guidelines. The criteria for prioritization includes sector relevance; total project cost; nature of government entity; scale of impact; proposed project timeline; status of project preparation; and absorptive capacity.

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DOT unveils ‘refreshed’ PHL brand campaign Continued from A1

The new campaign is grounded in sustainability — “zero commissioned footage equals a smaller carbon footprint,” explained Romulo Puyat. “By using 100-percent crowdsourced material, everyone who took part has helped create the country’s most sustainable tourism campaign to date.”

At the heart of the refreshed campaign is an invitation for Filipinos and foreigners alike to “Be Part of the Fun.’” This call to action enjoins tourists to share more of their photos, videos and reasons they like the country with #ItsMoreFunInThePhilippines in hopes of getting featured in upcoming advertising materials.

To capture the spirit of participation, the DOT introduced a new design system rooted in traditional motifs and colors. A custom-made font called “Barabara” has been created—and made free-for-use—drawing on the Filipino style of hand-painted lettering. In an interview with the BusinessMirror, BBDO Guerrero Creative Director David Guerrero said, “This is really the first time we’ve had a font of our own. The previous one was not custom-made. This one is an individually made, custom-made for us [based on the Filipino’s style of handpainting signs]. This handpainting can be seen on the side of boats, painted on jeepneys, or sarisari stores. This is branding the country with something unique,” he added.

BBDO Guerrero beat out four other advertising companies to land the P250-million contract to create the refreshed Philippines brand campaign for the DOT. The same agency also undertook the first campaign “It’s More Fun” campaign launched in 2012 under former Tourism Secretary Ramon J. Jimenez.

Supporting the new font is a new logo, inspired by local woven textiles. It is the core of a fresh graphic identity system that symbolizes a fun, contemporary and more sustainable tourism offering. In the original logo, there was a map of the Philippines within the colorful weaves of the banig. “We captured the essence of the banig”in the new logo, said Guerrero, but

Rice prices. . .

Continued from A1

“The rice tariffication law is a game-changing measure, which will alter the agricultural policy environment. We support the RCEF,” Diokno told the BusinessMirror via SMS. The Palace said the three-month wait for the RCEF is “just a short time” compared to the time it took to enact the measure which removed the quantitative restriction (QR) on rice.

Panelo also said Malacañang will welcome any legal challenge to the law. He issued the statement after farmers’ groups said they may seek a court restraining order if the implementing rules of the new law would cause more harm to the sector.

NFA. . .

Continued from A1

“The NFA union nationwide right now is contemplating to file a case before the Supreme Court on the grounds of violating our security of tenure rights. Because a lot of us—almost 100 percent of us are permanent and career government officials—would forcedfully lose our jobs due to this law,” he added.

Torda explained that they were never consulted by lawmakers on the detrimental consequences of the law for their employment.

Torda said they are still consulting with lawyers on, among others, whether the lawsuit would be a class suit or individual case.

The case, he added, could be against the government since it was the one that approved the law that led to their possible displacement.

Under RA 11203, the NFA has been limited to just maintaining a buffer stock through local

Coco levy. . .

Continued from A1

the return of enrolled copies of the bill passed by Congress to the President’s office as it failed to introduce an amendment included during the bicameral conference.

Senate Majority Leader Juan Miguel F. Zubiri earlier said the President wants the bill amended so that the majority of the trust fund

they had to remove the Philippine map because it couldn’t be distinguished especially when reproduced as a small pin.

Many of the guests, however, had expected an actual TV commercial or video ad to be previewed to the public. However, Guerrero averred the event was meant to just set the tone for the campaign. “Before traveling, what do people do? They read reviews first,”he noted, underscoring why it was important to inputs from people who have traveled in and around the country.

“We’ve established the principles of the campaign, set out the intentions, the actual creation [of the ad will be] inspired by what’s there, how it will evolve. It’s untraditional [in the sense that] in the past, here’s one big ad.

What we’re saying is we’re laying the platform for creating the physical content that we’ll roll out in a responsive and adaptive kind of way,” he stressed.

“There will be multiple versions, there will be customized versions, there will be tailored versions, so it’s a lot more that we will evolve.

A lot of it will be data-inspired, data-responsive and it will be real in terms of what is shared,” Guerrero said.

In a related development, Romulo Puyat said they will be meeting with Miss Universe 2018 Catriona Gray when she arrives in Manila next week to see how she can help in promoting the Philippines.

At a press conference after the unveiling of the new Philippines brand campaign, the DOT chief said President Duterte had wanted to draft Gray as a “Philippines Tourism Ambassador,” to assist in encouraging more foreign tourists to visit the country. Duterte briefly met with Gray in January after she won her crown.

“Even before she became Miss Universe, Catriona was already promoting the Philippines as part of her advocacy,” said Romulo Puyat.

Part of her introduction in the Miss Universe pageant included video clips in Intramuros and other key destinations of the Philippines.

Paraluman said one “questionable” item in the law is the provision that effectively overrode Presidential Decree 4, or the National Food Authority Charter, without amending the said measure.

He also said rice industry stakeholders were not consulted by the Senate about the bill. The new law was largely based on the Senate version of measure.

President Duterte signed into law on Thursday the rice tariffication measure, which opened up the country’s rice market with the removal of caps on imports and the conversion of the QR into tariffs.

Government economists estimate prices of rice will go down by P4 to P7 per kilo once the bill is enacted. However, farmers expressed apprehension that the influx of cheap rice could “kill” the domestic rice industry. palay procurement.

The law no longer allows the NFA to import rice and regulate the trade of the staple from importation down to its commercial sale in the market.

The NFAEA’s plan to explore its legal options on the issue came after various rice industry stakeholders revealed that they are considering to secure a temporary restraining order (TRO) on RA 11203 from the courts.

“If we find a way to secure a TRO, then we will do it. Because I think we have sufficient evidence to file a TRO, such as we were not consulted in the legislative process,” Philippine Farmers Advisory Board Chairman Edwin Y. Paraluman said in the same news briefing.

“But if we could not find a way to file a TRO then what’s the point of doing such?

We will just zipper our mouth then continue our fight through other recourse,” Paraluman added. Jasper Emmanuel Y. Arcalas board members who will distribute the funds to farmers would be composed of government officials.

The bill was considered a landmark measure as it stipulates how the coco-levy fund should be used.

The coconut-levy funds have been stuck in court disputes from 2012, when the Supreme Court awarded the shares bought with the coco-levy funds to the government, to be used for coconut farmers and the industry. Bernadette D. Nicolas

The Nation BusinessMirror

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Editor: Vittorio V. Vitug • Tuesday, February 19, 2019 A3

Tesda haunted by ‘ghost’ training programs, scholars

A

By Claudeth Mocon-Ciriaco | Correspondent

T least 28 registered technical vocational education and training (TVET) programs with suspected incidents of “ghost scholars and ghost trainings” in Central Luzon and three other regions have been uncovered by the Technical Education and Skills Development Authority (Tesda).

Tesda Director General Isidro Lapeña said that the discovery was made following a three-month review of the operations of all accred-

ited Tesda training schools in the country when he assumed the Tesda post in October last year.

“Among my major thrusts is to ad-

Comelec junks Andaya-Eusebio’s bid for House seat in May polls

By Samuel P. Medenilla @sam_medenilla

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HE Commission on Elections (Comelec) has stopped former Pasig City Mayor Maribel Andaya-Eusebio from running for representative of Camarines Sur’s second district after the poll body determined that she is ineligible to vie for the position because she is not a registered voter in that province.

In a unanimous resolution, the Comelec’s first division cancelled Andaya-Eusebio’s certificate of candidacy for committing “false material representation” when she claimed last year in her COC that she was eligible to run for a congressional post in Camarines Sur, even though she was not a registered voter in the municipality of the province’s second congressional district where she intends to get elected in the midterm polls.

Andaya-Eusebio’s ineligibility to run for the post warrants the cancellation of her COC, the Comelec ruled in a resolution signed by the first division’s presiding Commissioner Al Parreño and Commissioners Rowena Amelia Guanzon and Marlon Casquejo.

These commissioners said in their eight-page resolution that with the denial of Andaya-Eusebio’s bid to have her voter’s registration record transferred from Pasig City to Barangay Puro Batia in Camarines Sur, “it becomes clear that [she] lacks one of the qualifications to vie for the position of member, House of Representatives of the Second District of Camarines Sur, that is being a registered voter in the district in which she shall be elected.”

The Comelec division’s unanimous move to cancel AndayaEusebio’s COC was made on the strength of last year’s December 20 resolution by the Regional Trial Court (RTC) in Libmanan, which, in

turn, upheld the October 29 ruling of the Election Registration Board (ERB) to deny her appeal to be included in the Comelec’s list of voters of Barangay Puro Batia in the municipality of Libmanan.

The Comelec said the denial by the Libmanan RTC of Andaya-Eusebio’s appeal to have her name included in the list of voters of Barangay Puro Batia is “final and executory,” given that no higher court had issued any ruling stopping the enforcement of its decision.

“For to rule otherwise would create a contemptible scenario where a candidate who is not even a registered voter of the district he is supposed to represent may come out victorious in the elections, making a mockery of our election laws and rules,” the Comelec said.

Andaya-Eusebio is the sister of Rep. Rolando Andaya Jr. and was once mayor of Pasig City, where her husband Roberto Eusebio is the incumbent mayor seeking reelection in the May polls.

The Libmanan RTC’s ruling merely affirmed the earlier resolution issued by the Comelec’s ERB rejecting Andaya-Eusebio’s request to have her voter’s registration record transferred from Pasig City to Barangay Puro Batia, after it found out that she failed to satisfy the residency requirements mandated under the law.

In its resolution, the Comelec cited the decision of the Supreme Court in Hayudini vs Comelec, which states: “A candidate is eligible if he has a right to run for the public office. If a candidate is not actually eligible because he is not a registered voter in the municipality where he intended to be elected but still states under oath in his certificate of candidacy that he is eligible to run for public office, then the candidate clearly makes a false material representation…”

The Comelec said this was clearly the case with Andaya-Eusebio.

dress the problem of ghost scholars and ghost trainings. Any irregularities will be immediately dealt with.

Nobody will be spared under my watch,” said Lapeña.

It will be recalled that Lapeña immediately ordered the creation of an investigating team to conduct a thorough review and accounting of all accredited training schools due to complaints and rumors of irregularities, especially in the provinces.

Based on the result of the probe submitted by the investigation committee the Tesda chief created, there are 62 registered programs of technical vocational institutions with violations on Tesda rules and regulations that were discovered.

The investigation confirmed the existence of ghost training and ghost trainees in registered

TVET programs—13 of which are in Central Luzon, seven each in Region 1 and Region 4A, and one in Metro Manila.

Each of the training schools identified has two or more cases of conducting ghost trainings and listing ghost scholars.

Nine cases of illegal collection of fees from trainees and scholars were also found, a gross violation of the rules and guidelines on Tesda scholarship.

Four of them are in Region 1, two each in Region 4A and Region 6, and one in Region 7.

“Appropriate criminal charges will be filed against those who are involved in these serious offenses as warranted,” said Lapeña, adding that Tesda regional directors were already asked to explain about the anomalies that were enumerated in the findings.

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@reneacostaBM

HE Armed Forces of the Philippines (AFP), the Canadian Ministry of Defence and the Canadian Armed Forces began a five-day Defense Resource Management Course (DRMC) on Monday that aims to help the military to properly allocate its resources from manpower to equipment and funds.

The seminar-workshop will examine and discuss the management of resources within the government’s defense sector and works around four themes complementing each other, which are managing defense resources, military personnel and force deployment, preparing and employing military forces, and defense procurement.

Training schools with minor violations, on the other hand, were ordered to comply and warned of cancellation of accreditation if they fail to do so.

Following the result of the investigation, Lapeña has implemented a stricter monitoring on existing training schools and validation process for those applying for accreditation.

“Tesda’s Unified TVET Program Registration and Accreditation Sys-

tem, or Utpras, has [a] very stringent validation and monitoring processes. If a school or training center does not comply with requirements, it will not be awarded scholarship slots,” Lapeña emphasized.

“I assure the public that during my watch, as your Tesda chief, our kababayan will not be shortchanged and will not be deprived of the free quality training that they deserve,” he stressed.

Squatter families fear eviction amid Manila Bay land-reclamation ‘frenzy’ A ROUND 45,000 squatter families who took residence near the compound of the Bataan Shipping and Engineering Co. (Baseco) are facing possible eviction to pave the way for the massive reclamation projects along Manila Bay in Manila’s fifth district.

On Monday, members of the fisherfolk group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya), together with Anakpawis party-list, led a protest gathering at Mendiola in Manila to denounce the plan.

According to Pamalakaya, a total of 547 hectares of reclama-

tion projects will be carried out in the coastal waters of Manila’s thickly populated urban poor community for the expansion of existing ports and for mixed use.

These also include the 50-hectare expansion of the existing Manila Harbour Centre proposed by R-II Builders Inc., another 50-hectare Baseco Rehabilitation & Development Inc. reclamation project, the 40-hectare Philippine Reclamation Authority reclamation project and the biggest, the 407-hectare City of Pearl reclamation project proposed by Chinese-owned UAA Kinming Development Corp.

Senator loses ‘lucky’ SUV in Greenhills fire

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N auto repair shop was gutted by fire, including a high-end decade-old car of reelectionist Sen. Joseph Victor “JV” Ejercito, which was inside the building on Monday morning on the southbound lane of Edsa near Connecticut Street in Greenhills.

According to the Eastern Police District, the fire that hit Autoplus Car Center was reported around 11:35 a.m. and reached second alarm at around 11:38 a.m.

The fire was declared out by Fire Supt. Cristine Cula of Mandaluyong Bureau of Fire Protection at 12:30 p.m.

Ejercito said that he was saddened with the loss of his sport-utility vehicle (SUV), for he considered his Toyota Sequioa as his “lucky car.”

“Feeling sentimental because we’ve been through so many battles, and it was my most reliable, not to mention [my] lucky car. Will be missing this car,” Ejercito said.

The Philippine Red Cross also dispatched a fire truck from NHQ-Tower and an ambulance from Rizal-Mandaluyong Branch with a total of 10 manpower. Claudeth Mocon-Ciriaco

PHL, Canada begin 5-day course on military-resource management

By Rene Acosta

Among my major thrusts is to address the problem of ghost scholars and ghost trainings. Any irregularities will be immediately dealt with. Nobody will be spared under my watch.”—Lapeña

“This course aims to teach its student officers from various participating countries the core economic management concepts utilized in the Western National Defense Headquarters,” said Assistant Deputy Chief of Staff for Education and Training Brig.

Gen. Francisco Mendoza Jr. The DRMC is being attended by 38 senior military officers and civilian staff in the defense sector from the Philippines, Indonesia, Pakistan, Mongolia, Bangladesh, Singapore and Nepal.

The course employs a building-block approach in learning and taps the prior knowledge of the students.

“This is an appropriate method in engaging our middle- and upper-level managers and key leaders. We are expecting that at

the end of the course we will have a fuller grasp of the integrated and corporate nature of defense management at the strategic level,” Mendoza added.

The training was facilitated by highly experienced practitioners from Canada who offered firsthand knowledge and experience in training officers from various countries.

“I am certain that all armed forces involved in this endeavor, regardless of the national goals and objectives they embody, strive to become the most credible and most resilient. I encouraged participants to continue to help one another to develop competencies in having formal knowledge on defence budgeting processes and managing defense resources” Mendoza said.

All the said projects were already given a go signal by the local government unit of Manila.

More than 45,000 urban poor and fisherfolk residents will be displaced if the reclamation projects push through, Pamalakaya said.

“The consistent effort of the government and volunteers from grassroots sectors will be useless and futile if a large part of Manila Bay will be reclaimed and giant establishments will be installed afterward,” Fernando Hicap, national coordinator of Pamalakaya said in a news statement.

“This is far from the rehabilitation

that we have expected; displacing us from our community in exchange for big-ticket infrastructure projects that would inflict more damage to Manila Bay’s marine ecosystem and biodiversity. The rehabilitation we have been upholding ever since was the revival of mangrove forests and sea grasses that serve as fish habitat and sanctuaries,” Hicap added.

Hicap, a former Anakpawis representative, took the cudgels for the squatter families and defended them against the accusation of the government that they are the main source of pollution for lacking proper sanitation and hygiene. JonathanL.Mayuga

DILG chief reminds LGU officials, state workers: Shun partisan political activities

By Jonathan L. Mayuga

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@jonlmayuga

HE Department of the Interior and Local Government (DILG) on Monday reminded local officials to strictly adhere to Section 261 of the Omnibus Election Code, which bans the use of public funds, money deposited in trust, equipment, and facilities owned and controlled by government for any election campaign or partisan political activity.

Interior Secretary Eduardo M. Año issued the reminder as he directed local government units (LGUs) to clear all government facilities, properties and vehicles of political campaign materials.

“We will not allow candidates to use government properties as a platform for their election campaign. It’s clearly prohibited. Government buildings, properties, vehicles and equipment are for official use only and may not be used as venues or tools for partisan political activity,” Año said in a news statement.

According to Año, LGUs that fail to comply with election prohibitions will immediately be reported to the Commission on Elections (Comelec).

For his part, Interior Assistant Secretary and Spokesman Jonathan Malaya urged the public to report LGUs violating the election ban to the Comelec or the DILG by taking a picture of the campaign material together with a copy of the day’s newspaper.

“The Comelec has promised to act on these violations immediately. There are Comelec election officers in most towns in the country.

Let us help Comelec in ensuring a peaceful and honest election by reporting violations to their field offices,” he said.

The use of vehicles and facilities for campaign purposes is also not allowed by law, Malaya added. “The use of government vehicles for such purposes is not ‘official’ as defined by the Civil Service Commission,” he added.

The Comelec on Thursday ordered 34 election candidates to take down their illegal posters as the official campaign period has yet to start on March 30 for local election candidates, and those vying for a seat in the House of Representatives.

The DILG, likewise, bans LGU officials and employees from promoting or endorsing candidates of the upcoming elections and must

“We will not allow candidates to use government properties as a platform for their election campaign.

It’s clearly prohibited.

Government buildings, properties, vehicles and equipment are for official use only and may not be used as venues or tools for partisan political activity.”—Año

abstain from engaging in partisan political activities, except local elective officials who, by the political nature of their position, are exempted from the ban.

“Civil service personnel are tasked to serve our country with integrity and neutrality. It’s none of our business to influence public opinion on poll bets. Let’s just do our jobs and respect the people’s ability to make informed decisions during the May elections,” Año said.

He asked all LGU officials to heed the President’s call for “honest and clean” elections, which means adherence to all election laws and regulations.

In 2016, the Civil Service Commission (CSC) and Comelec issued Joint Resolution 1600298 prohibiting all LGU officials and employees from participating in any electioneering and partisan political activities during the campaign season, except local elective officials who, by the nature of their office, are exempted.

According to the Revised Rules on Administrative Cases in CSC Resolution 1101502, those found guilty of partisan political activity will be charged with one to six months of suspension without pay on the first offense and dismissal from the service and permanent disqualification from the civil service on the second offense.

Section 264 of the Omnibus Election Code of the Philippines considers election-related violations as criminal offenses and therefore punishes the offender with one to six years of imprisonment, disqualification from public office and prohibition from exercising their voting rights.

A4 Tuesday, February 19, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

US-China trade war to cut PHL growth by 0.4 pp in ’19–Amro

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By Cai U. Ordinario

@caiordinario

SCALATING trade tensions between the United States and China could cut the Philippines’s gross domestic product (GDP) growth by 0.4 percentage points this year, according to the Asean+3 Macroeconomic Research Office (Amro).

In a report released on Monday, the Amro said “should the adverse scenario materialize[s]” on the trade tensions between US and China, the country’s economic growth would likely suffer this year.

In 2019, Amro said, the Philippine economy would post a GDP growth of 6.4 percent on the back of infrastructure spending. Inflation is also expected to average 2.9 percent this year, which is within the 2 to 4-percent target set by the Bangko Sentral ng Pilipinas (BSP).

“With much of the impact from the trade conflicts in 2018 materializing in 2019andtheriskofafurtherescalation, globalexportsgrowthmaycollapseand lead to a significant slowdown of the Philippine economy,” Amro said.

“According to Amro’s regional team estimates, trade conflicts can shave off as much as 0.4 percentage points from Philippine GDP growth, should the adverse scenario materialize[s],” it stated.

This is just one of the primary external risks the Philippine economy will be facing this year. The other is the risk of tightening of global

financial conditions or the sharp slowdown of the global economy.

Amro said global growth is expected to slow mainly due to the uncertainties created by the US-China trade tensions. The think tank said there was still a risk that the global economy could be subjected to the impact of a full trade war between the two economic giants.

The slowdown in global growth could lead to tighter global financial conditions that could heighten the volatility in financial markets in the Philippines and would, likewise, affect other emerging markets.

The global risks would also affect foreign direct investment flows into the Philippines not only because FDI growth is expected to slow in 2019, but because global risks could increase borrowing costs and raise uncertainties.

“These, in turn, could keep investors cautious and cause them to hold back their investments, thus, causing a much deeper decline,” Amro said.

On the domestic front, Amro said the Philippines faces a higher-thanexpected inflation and pockets of

financial vulnerabilities.

Inflation could worsen if global oil prices spike or reverse the declining trend observed in the Philippines. The slowdown in inflation began in October 2018.

On top of this, inflation could worsen on the account of “delays in domestic food imports and distribution system” and expected wage increases among government workers.

“The major risks facing the Philippine economy are mostly short-term.

Externally, escalating global trade tensions and a sharp tightening of global financial conditions remain the major risks,” Amro said.

“While domestic risks have started showing signs of easing, external risks have remained heightened. Policy-makers need to remain vigilant on the development of short-term risks and get ready to recalibrate their policy mix to sustain macroeconomic stability,” it added.

Amro said in order to cope, the government could streamline current expenditures and continue to improve its implementation capacity and spending efficiency of infrastructure projects, and adjust the pace of implementation so that it is in line with the absorptive capacity of the economy.

Tax reforms, Amro said, should also proceed with careful design and implementation to minimize potential negative impacts on investment and employment during the transition period.

Amro also said monetary policy should be kept appropriately tight to anchor inflation expectations and curb second-round effects.

The vigilance of the BSP, Amro said, is commendable.

MDM tariff likely to remain at 5% at least at the moment–Neda exec

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HE National Economic and Development Authority (Neda) has assured that tariffs for mechanically deboned meat (MDM) will remain at 5 percent, notwithstanding the recent signing by President Duterte of the rice tariffication law.

Neda Undersecretary for Planning and Policy Rosemarie G. Edillon told the BusinessMirror that a status quo will be kept during a still to be determined transition period.

“For now, yes [for a status quo]. We are ready to accept that it is reasonable to have a transition period,” Edillon said.

Apart from the transition, another matter to be discussed is the tariffs to be applied to MDM. Initially, the Committee on Tariff Related Matters (CTRM) decided to recommend maintaining the MDM tariffs at 5 percent.

However, the final decision on the tariffs and the length of the transition period when the 5-percent tariff will be applied will be determined by the CTRM. Its recommendation will then be elevated to the Office of the President for approval.

Earlier, the decision of the CTRM to maintain the 5-percent tariff on MDM may still be good for the economy, according to local economists.

Philippine Institute for Development

Studies (PIDS) Senior Research Fellow Roehlano M. Briones said the decision “will not be fatal” to the local livestock sector, particularly hog raisers.

Briones added that lower tariffs for MDM means cheaper products for consumer items, such as hot dogs, from lowincome households.

Former Tariff Commissioner George Manzano also said the primary purpose of imposing a higher tariff is to protect the local sector in the hope that the protection will allow them to become more competitive.

Manzano said, however, that if a protection is given and the local sector does not take the opportunity to modernize their processes, invest in their production facilities and increase their production, consumers will also be at the losing end.

The CTRM is one of the interagency committees under the Neda Board. The committee is chaired by the trade secretary and cochaired by the socioeconomic planning secretary.

It is tasked to advise the President on tariff and other related matters and the effect on the Philippines of various international developments.

It also recommends to the President a continuous rationalization program for the country’s tariff structure.

Cai U. Ordinario

www.businessmirror.com.ph

Whistle-blowers are badly needed, but they have to be protected

By Henry J. Schumacher

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HEN we had a dialogue with the chairman and the Commissioners of the Philippine Competition Commission (PCC) to discuss areas where cooperation with the private sector makes sense in achieving the “level playing field,” we all agreed that a level playing field involves besides fair competition, anti-corruption, a fair taxation regime, data privacy protection and cyber security. It became obvious that compliance officers/security managers will play an increasingly important role in business and the government as we move forward.

We also raised and discussed the need to encourage whistle-blowers to move forward and expose fraud, tax evasion, data breaches and other misdeeds. However, without whistle-blower protection it is understandable that these potential heroes will not step forward. While we have encouraged Congress for many years to pass “whistle-blower protection legislation”—without success—the group agreed that it is absolutely

necessary that whistle-blowers will have to be given protection from retaliation.

In this connection, there is some big news: the European Union is poised to take a historic step to protect whistle-blowers across Europe. A new EU-wide directive could have a dramatic impact on the ability of whistleblowing to work in all our interests.

But, something is moving in the wrong direction: While we are excited by the new directive overall, we are very concerned that the EU is about to agree a directive that, as it stands, will dangerously reinforce the status quo and make it even harder for individuals to report wrongdoing. Why is this?

In negotiating the directive, the EU Council is insisting that whistle-blowers should report internally first in order to be protected under the law.

This could put whistle-blowers at risk and lead to cover-ups when those responsible are alerted by internal reports.

This so-called mandatory internal reporting in the directive needs to be deleted!!

Whistle-blowers play an essential role in exposing corruption and other wrongdoing that threatens public health and safety, financial integrity, human rights, the environment and the rule of law. By revealing such misdeeds, whistle-blowers have helped save countless lives and billions in public funds.

We have been advocating for years to gain strong protections for whistle-blowers in the EU and the Philippines, to give those brave enough to speak out adequate protection from retaliation.

Transparency International said the EU proposal was a bold step in recognizing the importance and rights of informants, provided the so-called mandatory internal reporting is deleted.

The Association of Chartered Certified Accountants (ACCA) said increasing whistle-blower protection will help businesses.

“Companies have to see speak-up as something that would help them manage risks and avoid more serious issues, such as violation of law, inappropriate conduct, crime or any type of harms,” ACCA Head of Corporate Governance Jo Iwasaki said.

Given these movements in Europe, it may be highly opportune to restart the dialogue with the Senate and the House regarding whistle-blower protection legislation; the bills are there to be acted upon—of course without the mandatory internal reporting.

Comments are welcome—contact me at Schumacher@eitsc.com.

Arroyo moves to reinvigorate Roro shipping, lower food transport cost from Mindanao

By Jovee Marie N. Dela Cruz @joveemarie

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O bring down the cost of transporting goods and commodities from Mindanao to other parts of the country via the roll-on, roll-off (Roro) shipping system, the leadership of the House of Representatives has bared the opening of seven Roro route this year.

Speaker Gloria Macapagal-Arroyo, in a news statement following an Oversight Committee hearing on transportation in Cebu City, said the Maritime Industry Authority (Marina) revealed that several companies have applied to serve the new Roro routes.

Arroyo earlier said there were several unserved routes in the Roro system.

The Oversight Committee hearing, Arroyo added, tackled surrounding issues affecting the Roro with emphasis on how to make it more efficient to bring down the prices of goods.

“The reason we put up the Roro system is we want to bring the cost of transporting food from Mindanao, where it’s plentiful, to the Visayas and Luzon. And we hope that we’ll continue to reap [its] fruits,” he said.

During the hearing, Arroyo said, it was revealed that except for those using

7

The initial number of Roro routes to be opened this year

10-wheeler trucks, the cost of transporting goods is more expensive through the Roro than other modes of transport.

This is due to several factors, including logistics, weighing methods, lack of reefer vans and trucker fees, she added.

Arroyo also said that exorbitant fees are being collected for the use of weighing scales, prompting her to ask the Department of Public Works and Highways (DPWH) to take over the operation of weighing scales.

“We will try to have another hearing to find out if the DPWH can be the one to take over the weighing,” she said.

Earlier, the House Committee on Transportation created a technical working group

(TWG) to assess the status of Roro Port System missionary routes.

Arroyo launched the Roro system during her Palace term in 2003, which connected the three main islands of the Philippines.

The TWG, to be chaired by Arroyo, shall oversee the Marina as it acts on the committee’s suggestion to sell to the private sector the Roro routes that are not being plied.

According to Marina Officer in Charge Administrator Vice Admiral Narciso Vingson Jr., the agency has identified 21 missionary Roro routes that may be sold to private operators.

Unavailability

MOREOVER, the committee also discussed another issue that jacks up the costs of transport brought about by the unavailability of reefer vans for perishable goods.

However, Arroyo said it was revealed that there is actually an excess of vans at present.

According to Arroyo, there are compartmentalized reefer vans that may be utilized by farmers. She then urged the Department of Agriculture to make accessible this information available to farmers to enable them to use the reefer vans.

On the fees imposed by the truckers, Arroyo, meanwhile, said that another Oversight Committee hearing will be called to specifically tackle their issue.

Coco farmers to lawmakers: You should’ve listened to us

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COALITION of farmers is urging lawmakers to reconsider their proposed law on the utilization of the over P70billion coconut-levy fund, as a majority of its provisions are aligned with what President Duterte wants to implement.

Kilusan Para sa Ugnayan ng mga Samahang Magniniyog (Kilus Magniniyog) convenor Rene Cerilla said the President would have

not vetoed the twin bills on the coconut-levy fund if only the lawmakers listened to the concerns and position of the local farmers.

“The farmers know what they want and what is right for the industry. So we hope lawmakers follow what the coconut sector wants to happen with the coconut-levy fund,” Cerilla said in an interview on Monday.

“If they [lawmakers] only listened to

our position, then the law would have been passed already,” he added.

Cerilla said delays in the passage of a law covering the coco-levy fund would prolong the farmers’ burden aggravated by low prices of copra.

“We hope that the veto by the President would serve as a lesson to our incumbent congressmen and senators,” he said.

“And this would also be a lesson to those who are running for government position to listen to the farmers and not only serve their personal interests,” he added.

Cerilla said among the provisions that Kilus Magniniyog are pushing include the creation of a separate trust fund committee that would oversee the utilization of the coco-levy fund. Jasper Emmanuel Y. Arcalas

www.businessmirror.com.ph

The World BusinessMirror

Editor: Angel R. Calso • Tuesday, February 19, 2019 A5

Trump says China trade negotiations ‘very productive’ as US team returns

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RESIDENT Donald J. Trump said last week’s China trade talks were “very productive” as his team briefed him upon their return and readied for another round of negotiations.

Saturday’s meeting came as the US and China sent signals they may reach a deal or extend talks to end their trade war, easing fears that the Trump administration will ratchet up tariffs when a key deadline arrives in two weeks. Investors on Friday cheered signs that the trade war between the world’s two largest economies isn’t escalating, with US equities climbing.

White House Spokesman Sarah Huckabee Sanders named 10 officials who were supposed to have participated in Saturday’s meeting, either in person in Florida, where the president is spending the weekend, or by phone.

The attendees included US Trade Representat ive Rober t Lighthizer and Treasury Secretary Steven Mnuchin, along with Commerce Secretary Wilbur Ross, White House Trade Adviser Peter

UK lawmakers slam Facebook, recommend stiffer regulation

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EW YORK—British lawmakers issued a scathing report on Monday that accused Facebook of intentionally violating privacy and anti-competition laws in the United Kingdom, and called for greater oversight of social-media companies.

The report on fake news and disinformation on social-media sites followed an 18-month investigation. The parliamentary committee that prepared the report says socialmedia sites should have to follow a mandatory code of ethics overseen by an independent regulator to better control harmful or illegal content.

The report called out Facebook in particular, saying that the site’s structure seems to be designed to “conceal knowledge of and responsibility for specific decisions.”

“It is evident that Facebook intentionally and knowingly violated both data privacy and anti-competition laws,” the report states. It also accuses CEO Mark Zuckerberg of showing contempt for the UK Parliament by declining numerous invitations to appear before the committee.

Facebook did not immediately respond to an e-mail request for comment.

Facebook and other Internet companies have been facing increased scrutiny over how they handle user data, and have come under fire for not doing enough to stop misuse of their platforms by groups trying to sway elections.

The report by the Parliament’s media committee echoes and expands upon an interim report with similar findings issued by the committee in July. And in December, a trove of documents released by the committee offered evidence that the social network had used its enormous trove of user data as a competitive weapon, often in ways designed to keep its users in the dark.

Facebook faced its biggest privacy scandal last year when Cambridge Analytica, a now-defunct British political data-mining firm that worked for the 2016 Donald J. Trump campaign, accessed the private information of up to 87 million users. AP

Navarro, White House Economic Director Larry Kudlow, acting chief of staff Mick Mulvaney and others.

Trump followed up Saturday’s Twitter message about “very productive” talks with another on Sunday morning, citing “important meetings and calls on China trade deal, and more, today with my staff. Big progress being made on soooo many different fronts!”

On Friday, the president hailed the efforts made in negotiations earlier in the week in Beijing attended by Mnuchin and Lighthizer. The two countries said they’re working toward a preliminary written agreement, and will continue discussions in Washington next week.

The US has threatened to more than double tariffs on $200 billion of Chinese goods if there’s

no deal by March 1.

“It’s going extremely well,” Trump said on Friday. “If we can make the deal it would be my honor to remove” the tariffs, but otherwise many billions of dollars are pouring into Treasury, the president said at the White House.

P resident X i Ji npi ng a l so sounded upbeat, saying the latest round of meetings “achieved important progress in another step,” according to China’s Xinhua News Agency.

Trump said in a separate tweet he will hold “important meetings” with his staff on Sunday about a China trade deal, saying there has been “big progress.” It’s unclear whether the latest tweet is referencing additional meetings.

Trump also said on Friday he’d consider bringing Democrats to the negotiating table. His remark suggested he may be preparing a campaign to sell a potential trade deal with China in Washington.

Some Democrats have pressed Tr ump to stick to a tougher approach to Beijing.

Schumer, Pelosi

“ANY deal I make toward the end I’m going to bring Schumer—at least offer him—and Pelosi. I’m going to say please join me on the

deal,” said Trump referring to Senate Minority leader Chuck Schumer and House Speaker Nancy Pelosi. “I’ll put them in the room and let them speak up.”

Trump’s optimistic comments contrast with the measured tone of the official US statement on the talks released by the White House. In the statement, the US cautioned that “much work remains,” making no mention of the “consensus in principle” cited by the Chinese in their own statement.

Both sides agreed to resume d i sc u ssion s i n t he US c apital next week as they work toward a “memorandum of understanding” that could form t he ba sis of a dea l bet ween Trump and Xi. A summit meeting between the leaders hasn’t yet been scheduled.

US business groups welcomed the signs of progress but urged the two sides to close the gaps.

“A final, comprehensive deal is only possible if progress is made to address a range of structural refor ms—inc lud ing concer ns over forced technology transfers —a nd t a ng ible i mprove ments in market access are clear, concrete and enforceable,” US C hamber of Commerce Head

of international affairs Myron Brilliant said in a statement.

Detailed and enforceable

ANY agreement should be “detailed, enforceable, time-bound, and result in market-access improvements that have a meaningful impact” on American companies, workers and farmers, said Craig Allen, president of the US-China Business Council.

Trump repeated on Friday that he’s open to extending the March 1 deadline for higher tariffs if the two sides are close to striking a deal. Trump is considering a 60day extension for negotiations, people familiar with the matter said earlier this week.

T he W h ite House st ate ment on Friday said the Americans focused on structural issues in the Chinese economy, “ including forced technolog y transfer, intel lectua l-property rights, cyber theft, agriculture, services, nontariff barriers and currency.”

Mnuc h i n sou nded a positive note while in Beijing, saying he and Lighthizer held productive meetings with China’s Vice Premier Liu He. X i also me t t he t wo A me r ic a n s on Friday. Bloomberg News

Iran pressures European leaders to do more to save the nuclear deal M UNICH—Europeans need to do more than talk if they want to preserve a deal meant to keep Tehran from obtaining a nuclear weapon after the unilateral withdrawal of the United States, Iran’s foreign minister said on Sunday, slamming Washington as the “biggest source of destabilization” in the Middle East.

Mohammad Javad Zarif told a gathering of world leaders, top defense officials and diplomats that a barter-type system known as INSTEX, which was set up last month by France, Germany, and Britain to allow businesses to skirt direct financial transactions with Iran and thereby evade possible US sanctions, is not enough.

“Many around the world, particularly on this continent, speak eloquently about multilateralism, but they also need to walk the walk,” Zarif told the Munich Security Conference in an impassioned address. “INSTEX falls short of the commitments by [European countries] to save the nuclear deal. Europe needs to be willing to get wet if it wants to swim against a dangerous tide of US unilateralism.”

The three European nations, as well as Russia, China and the European Union as a whole, have been struggling to save the 2015 nuclear deal with Iran since President Donald J. Trump announced a unilateral American withdrawal from it last year and reimposed sanctions on Iran.

The deal promises Iran relief from sanctions in exchange for limiting its nuclear program, and so far the International Atomic Energy Agency has said that Tehran has been living up to its obligations.

Those working to preserve the agreement have been trying to walk a fine line between mollifying Iran without angering Washington. Zarif’s comments appeared directed at European assurances that INSTEX could concentrate on products not currently subject to US sanctions, such as medicine, medical supplies and agricultural goods, rather than on broader trade.

IRANIAN Foreign Minister Mohammad Javad Zarif speaks during the Munich Security Conference in Munich, Germany, on Sunday, February 17, 2019. AP PHOTO/KERSTIN JOENSSON

On Saturday, US Vice President Mike Pence slammed INSTEX and urged others to abandon the nuclear deal entirely.

“The time has come for our European partners to stop undermining US sanctions against this murderous revolutionary regime,” Pence said before leaving Germany.

“The time has come for our European partners to stand with us and with the Iranian people, our allies and friends in the region. The time has come for our European partners to withdraw from the Iran nuclear deal.”

Before Pence spoke, German Chancellor Angela Merkel defended the Iran deal, saying while she shared concerns about Iran’s missile program and its regional ambitions, it was important to keep “the small anchor we have [with Iran] in order maybe to exert pressure in other areas.”

Merkel’s comments, and her defense of global diplomacy instead of a go-it-alone foreign policy, drew lengthy applause.

Zarif told the conference that Pence had “arrogantly demanded that Europe must join the United States in undermining its own security and breaking its obligations” and urged them to push back

against American pressure.

“If the United States were to come, in the course of their fight with China, and tell Europe to stop dealing with China, what would you do?” he asked. “Whatever you want to do then, do now, in order to prevent that eventuality.”

He would not comment on whether the nuclear deal will survive without the US but said Iran was not prepared to renegotiate it as Trump has suggested.

“Nothing can be done that is better than this deal,” he said. “It’s not all we want and it’s certainly not all the United States wants but it’s the best that can be achieved.”

Responding to Pence’s comments that Iran was the “greatest threat to peace in the Middle East,” Zarif said the US had an “unhealthy fixation” with Iran and was itself the “single biggest source of destabilization in our neighborhood.”

“The US claims...that it is Iran which is interfering in the region, but has it ever been asked whose region?” Zarif said. “Just glimpse at a map for a second—the US military has traveled 10,000 kilometers to dot all our borders with its bases.

There is a joke that it is Iran’s fault that it put itself in the middle of all

[the] US bases.”

Zarif also accused the US administration of looking for regime change in Iran —something Washington denies—and said Israel was “looking for war” with “violations of Lebanon’s airspace and shooting into Syria.”

“The risk [of war] is great, but the risk will be even greater if you continue to turn a blind eye to severe violations of international law,” he said.

Benny Gantz, a former Israeli military chief, and Israeli President Benjamin Netanyahu’s primary challenger in the upcoming April election, responded in a separate forum, slamming Iranian aggression in the region.

“On my watch, there will be no appeasement [of Iran]. On my watch, Iran will not threaten Israel by taking over Syria, Lebanon or Gaza strip,” he said. “On my watch, Iran will not have nuclear weapons.”

Gantz told the audience, speaking of Zarif: “Do not be deceived by his eloquence. Do not be fooled by his lies.”

The Munich Security Conference is an annual gathering of world leaders and defense and foreign policy officials. AP

Oil recovers on trade optimism, supply curbs

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IL traded near the highest level since November on optimism that the United States and China can reach a trade deal, and as an outage at the world’s largest offshore field in Saudi Arabia signaled tightening supply.

Futures in New York rose as much as 1 percent after advancing 5.4 percent last week. President Donald J. Trump said talks with China were “very productive” as his team returned from Beijing and readied for another round of discussions in Washington this week, raising hopes that a trade war between the world’s largest economies will ease. The Saudis, meanwhile, were said to be repairing a damaged power cable that’s curbed output at the Safaniyah field.

Crude has surged about 24 percent this year as Saudi Arabia and Russia pledged to expand their output cuts, easing concerns that record US production would result in a global glut. More supply is being threatened because of American sanctions against Venezuela and Iran. Reports that the US and China had reached consensus in principle on the main topics in their negotiations further helped boost investors’ risk appetite.

“Markets are astonished by the amount of production cuts and the further reductions Saudi plans to make,” said Howie Lee, a Singapore-based economist at Oversea-Chinese Banking Corp. “Even though there was no conclusive trade deal from Beijing, the already bullish oil market took no news as good news.”

West Texas Intermediate for March delivery rose as much as 54 cents to $56.13 a barrel on the New York Mercantile Exchange and traded 49 cents higher at $56.08 at 7:34 a.m. in London.

Tra nsact ions w i l l be booked on Tuesday for settlement because of the US President’s Day holiday. Prices last week posted their biggest gain in more than a month.

Brent for April settlement was at $66.65 a barrel, up 40 cents, on the London-based ICE Futures Europe exchange. It gained 6.7 percent last week. The global benchmark crude’s premium over WTI for the same month narrowed to $10.19, after widening to the biggest spread in more than three months on Friday.

Conciliatory signals from the world’s two biggest economies are calming fears Washington will ratchet up tariffs before a March 1 deadline. “Big progress being made on soooo many different fronts!,” Trump said on Twitter on Sunday.

Worries about the trade war worsening a global slowdown are receding at a time when Opec and its allies are accelerating their implementation of the oil-production cuts agreed in December.

The Organization of Petroleum Exporting Countries reported a strong start to the latest round of supply reductions, with the Saudis pledging to cut beyond agreed levels.

The impact of the outage at Safaniyah, which has the capacity to pump 1.2 million to 1.5 million barrels of mostly heavy sour crude a day, could be damped as seasona l refiner y maintenance works across Asia and the US typically peak around now.

Saudi Arabian Oil Co. said in statement that all its facilities were “safe and normal,” without elaborating on the situation at Safaniyah. Bloomberg News

A6 Tuesday, February 19, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Residency requirement

T

HE implementation of the residency requirement for candidates might prove to be one of the more interesting and controversial aspects of the May 2019 elections.

Section 39 of the Local Government Code of 1991 requires a candidate for a local elective post to be a registered voter in the barangay, municipality, city, province, or district where he intends to be elected, and that the candidate should be a resident in the locality for at least one year immediately before the election.

The purpose of the residency requirement is to ensure that the person elected is familiar with the needs and problems of his or her constituency.

The 2019 set of candidates faces fresh scrutiny regarding their residencies.

The Commission on Elections (Comelec) had been asked through petitions to disqualify former Senator and former Foreign Affairs Secretary Alan Peter S. Cayetano and his wife, Taguig City Mayor Lani L. Cayetano based on their residency qualifications.

Alan Peter is running as representative of Taguig’s first district, while his wife is running in the city’s second district.

In a Philippine News Agency report, petitioner and Taguig resident Leonides Buac Jr. said the couple should be disqualified from running since they cannot claim living in separate residences as indicated on their respective Certificates of Candidacy (COCs), which is not in accordance with Article 69 of the Family Code.

Buac noted that the law mandates them to fix one matrimonial domicile or residence, as well as obliges them to live there together.

“In his COC, Alan Peter Cayetano claimed that he is a resident of Barangay Bagumbayan in the First District, while Lani Cayetano claimed that she resides in Barangay Fort Bonifacio in the Second District,” lawyer Emil Marañon III, the petitioner’s counsel, said in a statement. “Following this rule, the spouses cannot keep separate domiciles, or for one spouse to claim a separate and independent domicile from the matrimonial domicile. Thus, Alan cannot claim domicile in Barangay Bagumbayan, while his wife, Lani Cayetano, in Barangay Fort Bonifacio. In other words, they cannot run in two different districts or jurisdictions at the same time.”

Another petition in the Comelec questioned the congressional bid in Antique province of Sen. Loren B. Legarda. It was filed by her political rival, the province’s former Gov. Exequiel B. Javier, who described Legarda as a “stranger who came out of nowhere.”

In his petition, Javier said it was “common knowledge” that Legarda “has never been a resident” of Antique. He said Legarda’s candidacy was an attempt “to disregard the people of Antique’s right to elect only those who can best serve the community because of their knowledge and sensitivity to their needs, because he or she is one of them and came from them.”

Legarda countered by telling the Comelec that she had moved her residence from Malabon City to Barangay Mag-aba in Pandan town in Antique in January 1, 2018, making her a resident of the Visayan province for one year and four months by election day in May. On February 6, the Comelec dismissed the petition and allowed Legarda to run as Antique congressman.

It held a hearing on petitions to cancel the congressional candidacies of the Cayetano couple on February 4, but there was no word yet regarding its outcome.

Of course, there have been other “residency cases” in the past.

Richard Gomez, before he became Ormoc City mayor, was once disqualified by the Comelec from his bid to become a congressman in the fourth district of Leyte, citing his failure to establish residency in Ormoc. His wife, Lucy Torres, replaced him as candidate and won.

Before Manny Pacquiao became senator, he was a congressman in Sarangani province. Yet, it is well-known that he hails from General Santos. It’s his wife Jinkee who is a native of Sarangani. In fact, in 2007, Pacquiao contested the House seat for the first district of South Cotabato and lost to the incumbent then, Darlene Custodio. Yet, unlike Gomez, Pacquiao’s residency in his wife’s home province was never contested.

Sometimes these residency tiffs become tedious and are elevated to the Supreme Court, like the 2010 battle for the governorship of Palawan between Abraham Mitra and Jose Alvarez, now the incumbent governor.

It will make things a lot simpler if candidates just follow the decision of the Comelec, which should be the judge, jury and final arbiter in all matters related to the elections. This is the poll body’s constitutional mandate, after all, and it should be allowed to do its job properly.

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THE ENTREPRENEUR

A

S we predicted last year, consumer prices became tamer at the start of 2019, as the Duterte administration showed its resolve to manage the price situation.

Data from the Philippine Statistics Authority show that inflation rate, which gauges the movement in prices, eased to 4.4 percent in January 2019, the slowest in 10 months.

It gradually declined from a nineyear peak of 6.7 percent in October 2018, 6.0 percent in November and 5.1 percent in December.

I share the optimism of the government’s economic managers who said the latest inflation figure “gives us an auspicious start in our efforts this year to keep inflation manageable and bring it back to the government’s target range of 2 percent to 4 percent for 2019.”

With slower inflation, we can expect a much stronger economy.

It provides households with greater spending power and encourages more businesses to invest, because it means a more predictable and stable economic environment.

The Monetary Board of the Bangko Sentral ng Pilipinas, in its latest

meeting on February 7, 2019, kept the overnight borrowing rate unchanged at 4.75 percent, based on its assessment of a more manageable inflation environment. It said inflation is expected to settle within the target range of 2-4 percent for 2019 and 2020, as price pressures continue to recede amid the decline in international crude oil prices and the normalization of supply conditions for key food items.

Such a statement, for me, is an assurance that we will have a predictable business environment within the next couple of years.

It is amazing to see the resilience of the Philippine economy, as it quickly rebounded from what seemed to be temporary imbalances in 2018. Despite the challenges in 2018, the gross domestic product actually grew 6.2 percent, still making the Philippines one of the fastestgrowing economies in Asia.

Budget Secretary Benjamin E.

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Initial economic data encouraging

OUTSIDE THE BOX

T

HERE is an abundance of misinformation from even “trusted” sources that we end up building a house of knowledge and conclusions on quicksand. It looks solid but is as weak as water when tested.

For something that is relatively difficult to understand, we are inclined to withhold any sort of judgment until we have enough information to make a rational conclusion. But even then, the press and media—in their desire to simplify things—“damage” the facts in an effort to achieve that simplification. That does a disservice to you and to the world.

You might believe that carbon dioxide emissions released into the atmosphere, and the emissions of other “greenhouse gases” associated with the burning of fossil fuels, like natural gas, crude oil and coal, are harmful to the environment. Then you should be embrac-

ing and pushing for the use of the only reliable, cost-effective, and “carbon-free” power-generating source—nuclear.

However, rarely can you find a “carbon environmentalist” in favor of nuclear power. Certainly, there are benefits and disadvantages in any power source. But to hold both the “anti-carbon” and “antinuclear” viewpoints is to try to stand on intellectual quicksand.

Every time the amount of the Philippine Gross International Reserves is published, everyone suddenly becomes an expert on the subject because it seems relatively simple to understand: Foreign currency comes in and foreign currency

Diokno, himself a noted economist, said in a speech before the European Chamber of Commerce of the Philippines: “In the medium term, the Philippines will remain to be one of the fastest-growing economies in the fastest-growing region the Asean region—in the world.”

Secretary Diokno is confident that in the next four years, the economy will grow at 7 to 8 percent annually, supported by key structural reforms and expansionary fiscal program.

I am also optimistic about 2019, as the speculative fever dissipated this year. Aside from the slower inflation rate, other sources of optimism are the more stable exchange rate, with the peso now steady at 52 against the US dollar, the resolution of the rice supply crisis, the decline in world crude prices, the recovery of the stock market and the robust financial system.

As the peso stabilized, the gross international reserves climbed to $82.1 billion as of January 2019, the highest in 20 months. At this level, the reserves can cover more than seven months of import payments, above the international benchmark of three months.

Meanwhile, the PSEi, the 30-company benchmark index of the Philippine Stock Exchange, jumped 7.3 percent in January 2019, making the local bourse among the biggest gainers in Asia during the period.

The Board of Investments, the

biggest incentive-giving body, said it approved P97.9 billion worth of investment commitments in January 2019, an impressive 91-percent increase from P51.3-billion registered in the same month last year.

Trade Secretary and BOI Chairman Ramon M. Lopez said the figure “augurs well for the rest of the year as we aim to cross the uncharted trillionpeso mark in investment approval for the whole year.”

Filipino consumers are also ready to spend more this year. Automotive companies expect sales to rebound 10 percent in 2019, following a 16-percent slump in 2018, which was partly due to the initial implementation of the Tax Reform for Acceleration and Inclusion law.

On the political front, President Duterte has become more popular than ever. The president was named the most trusted government official in the survey conducted by Pulse Asia in December 2018, with an approval rating of 81 percent and a trust rating of 76 percent.

The initial statistics at the start of 2019 are positive, despite the challenges in the global economy. We must discard negative and speculative thoughts to encourage more investments in the country, contribute to economic growth and achieve what our economic managers describe as “Asia’s next success story.”

goes out and what is left over is the GIR. The more the better, right?

Lazy minds read the headlines.

The important questions are: What is the foreign currency that is leaving the country being spent for?

What is the source of the funds coming into the country?

Simplistically, if you wanted to raise the GIR by $10 billion, go borrow $10 billion from abroad. But that is entirely different from $10 billion remitted into the country to invest and build corporations. Likewise, a $10-billion drop in the GIR to pay off exiting international debt is entirely different than sending out that amount to import videogame consoles.

A nother head line for la zy minds is “PHL dollar reserves hit 20-month high in January.” The Philippines’s gross international reserves rose to a 20-month high of $82 billion in January.” The immediate impression is that the government, through the Bangko Sentral ng Pilipinas, has $82 billion stored in the vaults. While the latest currency mix is not readily available, usually the US dollar holdings are about 60 percent of the total. The value in US dollars is only for convenience.

But what happens if the US dollar “dies” because people stop using it for trade? And both Russia and China want to settle crude oil purchases in local currency. What if everyone drops the “petro dollar”?

Again, lazy minds ignore the details. These are the facts: Less than 10 percent of the total global trade comes from oil and oil products. If all oil trading was in local currencies, the effect on the importance of the US dollar will be small. Almost 40 percent of global national debt is denominated in US dollars. In 2017, the banks of Japan, Germany, France and the United Kingdom held more liabilities denominated in dollars than in their own currencies. Ninety percent of the $5.3 trillion currency trading every day is local currency to US dollar.

It is easier to be ignorant. No problem with that. We all like “easy” things. But the danger is that our ignorance can lead to harmful decisions, both public and private.

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

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

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Treachery of the highest order

The pork barrel monster

Cecilio T. Arillo

DATABASE

E

XACTLY 33 years ago this week, the so-called 1986 Edsa Revolution that catapulted the housewife, Mrs. Corazon Cojuangco Aquino, to power remains today not only a highway of horrendous traffic but a long avenue of questions, regrets, economic opportunism and a source of hatred, vengeance and disunity among Filipinos.

Historians Salvador Escalante and J. Augustus Y. de la Paz of the Truth and Justice Foundation, asked: If it was a genuine revolution, where are the radical changes that it should have set in place?

If it was popular, why were the beneficiaries so few?

If it was all-Filipino, why was there American intervention?

If it was for Benigno “Ninoy” Aquino (the slain senator), how valid a cause was he?

If it was meant to install his wife, Cory Aquino, to the presidency, was it worth it?

And why has life become much harder and politics even more corrupt after the so-called People Power uprising supposedly restored democracy?

Not only that. In the post-Edsa years, five presidents who succeeded President Marcos—Mrs. Aquino, her son Benigno III and the three between them: Presidents Fidel V. Ramos, Joseph Ejercito Estrada and Gloria MacapagalArroyo—spent more than P35 trillion in accumulated national budgets, compared to President Marcos’s total budget in 20 years of only P486.42 billion, and yet the country remains at the bottom of the five founders of the Association of Southeast Asian Nations. The four others—Thailand, Indonesia, Malaysia and Singapore—are now acknowledged newly industrialized and progressive countries.

Two best-selling books, Greed & Betrayal, published in 2000, and A Country Imperiled-Tragic Lessons of a Distorted History, published in 2011 by Amazon, one of the world’s biggest publishing houses, and both authored by this writer, distinctly provided the answers.

On March 15, 1986, President Aquino, without prior consultation with Vice President Salvador Laurel, Defense Minister Juan Ponce Enrile and other key participants of the Edsa Revolution, created a Special Cabinet Committee (SCC) to decide whether the new government would operate outside the 1973 Constitution.

The prime objective was to determine whether the 1973 Constitution would be abolished or not.

The SCC was composed of the late Minister of Justice Neptali Gonzales as chairman and members of parliament (MPs) Luis Villafuerte and Antonio Cuenco, then-Executive Secretary Joker Arroyo and Laurel himself, as members.

Gonzales proposed the abolition of the Constitution and the proclamation of a Revolutionary Government under a Freedom Constitution.

Enrile strongly opposed the idea and argued that preserving the existing Constitution would ensure political stability.

Laurel likewise objected to the abolition, as he pointed out that the Gonzales proposal would result in a dictatorial government and would exist beyond the ambit of judicial review.

United Nationalist Democratic Organization (Unido) MPs supported Laurel and Enrile’s observations and told Mrs. Aquino that there was no need to abolish the parliament because there was a new majority, which was ready to support the new administration.

Based on the minutes of a meeting recorded by lawyers Avelino V. Cruz and Minerva Reyes, the

Malacañang secretly hatched another plan and suddenly executed it without the knowledge of Laurel, Enrile, the rebel officers, as well as the majority of the parliament.

“It was political treachery of the highest order,” Laurel said, adding that a new power group had quietly taken over Malacañang. clear consensus was that the parliament would give the President emergency powers through a proclamation so that she could move on smoothly to discharge her power effectively along the lines enunciated in Gonzales’s draft of a Freedom Constitution.

As planned, the parliament stays and reconvenes on May 12, 1986, to adopt the proclamation of emergency powers. At the same time, it would annul the proclamation of President Marcos and Vice President Arturo Tolentino and declare Corazon C. Aquino and Salvador H. Laurel as the duly elected president and vice president, respectively.

The new government would be properly inaugurated and begin to operate under the existing legal framework, subject to the provisions of the Emergency Powers Proclamation under the Freedom Constitution. The Emergency Powers Proclamation would include a complete timetable for full transition to normalcy, including the adoption of a new Constitution and the holding of elections under it.

Accordingly, lawyer Avelino Cruz, representing Executive Secretary Joker Arroyo, lawyer Minerva Reyes and Deputy Justice Minister Renato Puno, representing the late Justice Minister Neptali Gonzales, drafted the fast-track plan.

The plan, however, failed to materialize, and was never heard of again.

Malacañang secretly hatched another plan and suddenly executed it without the knowledge of Laurel, Enrile, the rebel officers, as well as the majority of the parliament.

“It was political treachery of the highest order,” Laurel said, adding that a new power group had quietly taken over Malacañang.

Earlier, Laurel and Enrile, with the full knowledge of Mrs. Aquino, had been meeting with the Parliament members, with the help of former Prime Minister Cesar Virata, former Parliament Speaker Nicanor Yniguez, Minority Floor Leader Jose B. Laurel Jr. and all the Unido MPs. They were able to obtain the commitment of 132 members, a clear majority in the parliament, with more members willing to join the bandwagon.

Recalling the incident, Laurel said: “We had agreed that the new majority would annul the proclamation of Marcos and Tolentino, that Cory and myself would instead be proclaimed, after which I would be formally installed as prime minister. The new majority likewise assured me that they would support the entire legislative program to be presented by the Aquino administration.”

To reach the writer, e-mail cecilio.arillo@ gmail.com.

W

By Santiago F. Dumlao Jr.

ITH the horrors of pork barrel continuing to inflict themselves upon us, almost helpless citizens, let us recall what happened in 2013, the year the pork barrel abuses were revealed to the public in all its monstrous perniciousness.

This “pork barrel” system has always been questionable, and its use to promote political patronage has been marked by abusive practices, characterized by irregularities in the award of public works contracts, kickbacks, bribery, all manner of corruption and wasteful spending of public funds. It has really been a scandal, abetted by a collusion between Congress and the Executive department and as well between the House and the Senate.

Nevertheless, because of the inertia of repetitive practice, the Executive department has always been including “pork” appropriations for lawmakers in the national budgets it annually proposes to Congress. “Pork” comes in various names, such as Country Development Fund in the time of President Cory Aquino, and subsequently called Priority Development Assistance Fund (PDAF) in the PNoy administration.

The public has all along been aware of the reprehensible practices associated with the pork barrel system, and some senators, Sen. Panfilo Lacson Sr. specifically, indeed have refused their pork barrel allocation to publicly express their personal protest. The issue against pork barrel has been raised in presidential elections, but the issue has been largely ignored. The legislators, who pass the General Appropriations Act (GAA), could hardly be expected to abolish their source of largesse and their tool of political patronage. And the presidents of the land have been always content enough to include pork in their National Expenditure Program to keep the lawmakers happy—and cooperative. To keep the pork barrel appropriations in the national budget was a mutually beneficial arrangement between Congress and the president.

The public, we might conclude, got used to being ignored in making their objections, and their voices of protest eventually faded to accept “the reality of our politics.” The pork barrel system, it was now being rationalized, has its positive aspects of allowing Congressmen to help their constituents in ways they, as local representatives, can only understand the local needs—scholarships, medical clinics, country roads, livelihood projects and an assortment of projects.

Even as the corruption attending pork barrel disbursements was being conceded, the public had become more

accepting of the pork barrel system with supine resignation.

Ghost projects

ON July 12, 2013, the Philippine Daily Inquirer came out with its special fivepart report that a certain businesswoman, Janet Lim-Napoles, had allegedly used the PDAF of 28 lawmakers to channel the money to ghost projects—a staggering amount of some P10 billion over a period of 10 years.

This allegation was made by her former employees, principally Benhur Luy, Janet’s cousin. The whistle-blowers submitted affidavits alleging that Napoles formed bogus nongovernment organizations to be the recipients of pork barrel allocations of lawmakers who, it was reported, directed their PDAF sums to these NGOs. The PDAF was not the only source of funds directed to NGO ghost projects. The Malampaya Fund (government’s share from the Malampaya gas project) was also used by Napoles to channel funds to bogus NGOs. Serendipitously, the Commission on Audit published its special audit that “funds totaling P6.2 billion from PDAF allocations of 12 senators and 180 congressmen from 2007 to 2009 were transferred to 82 bogus NGOs ‘in clear violation of the law.’”

This corroborated the allegations of the whistle-blowers against Napoles, who, according to this COA report, was linked to 10 of the bogus NGOs that received PDAF amounts.

Meantime, three petitions were filed with the Supreme Court calling for the abolition of the pork barrel system, and for stopping any further release of PDAF amounts. On September 10, 2013, the high court did issue its order to stop further releases.

Meantime, the Department of Justice and the National Bureau of Investigation started their own investigation.

Then, on September 16, 2013, “charges of plunder, malversation, bribery, graft and corrupt practices were filed in the Office of the Ombudsman against Napoles, Sens. Juan Ponce Enrile, Ramon Revilla Jr. and Jinggoy Estrada, and 34 other people.” In a related action, a petition was filed in the Supreme Court questioning the legality and constitutionality of the Disbursement Acceleration Program or DAP, which released funds to selected legislators as “additional

Tax amnesty of 2019 Atty. Irwin C. Nidea Jr.

TAX LAW FOR BUSINESS

A

MNESTY is here. It has been a long wait by many who are hoping that by availing themselves of it, they will have a fresh start. Unfortunately, not everyone will have an opportunity to have a clean slate on their tax liabilities from 2017 and prior years, since some provisions of the amnesty law has been vetoed by the President. As a consequence, only the following persons will have the privilege to be forgiven for their tax sins: n Delinquent taxpayer who must pay 40 percent or 50 percent of the basic tax due—A delinquent taxpayer has a final and executory tax assessment that is due. He should pay 40 percent of the tax due to avail himself of the amnesty. What about those that are pending at the Court of Tax Appeals where the assessment is final but the right of the Bureau of Internal Revenue (BIR) to collect is being questioned? It is final but is not yet executory. Thus, he cannot avail himself of the tax amnesty as a delinquent taxpayer. But on tax cases that have become final and executory, by judgment of the court, the taxpayer must pay 50 percent of the basic tax due. n Taxpayers with pending criminal cases who must pay 60 percent of the basic tax due—This

includes cases that are pending before the Department of Justice and the courts. Possible criminal liabilities will be extinguished upon payment of the amnesty tax.

Withholding Agents who withheld taxes but failed to remit the same must pay 100 percent of the basic tax assessed. n Estate Tax—A one-time declaration and settlement of estate taxes and properties that are in the name of prior decedents or donors whose estates remain unsettled has been vetoed by the President. Thus, a 6-percent estate amnesty tax must be paid in every succession transfer.

For example, the taxpayer has to pay 6-percent estate amnesty tax to transfer his great grandfather’s estate to his grandfather. The taxpayer has to pay another 6-percent

Tuesday, February 19, 2019 A7

pork barrel” to help accelerate public spending. The DAP funds received by congressmen were reported to be P10 million to P15 million each—to pump-prime the economy, was the justification.

On October 8, 2013, the first oral arguments were heard in the Supreme Court on the petition questioning the legality and constitutionality of the PDAF. Finally, on November 19, 2013 the Supreme Court promulgated its pork barrel decision.

The decision of the Supreme Court on the pork barrel, declaring it unconstitutional, is a landmark decision. It is a commendable elucidation of the constitutional principles by which the formulation and implementation of the national budget are to be guided, explaining the reasons for such principles and wisdom that underlie the constitutional arrangements in the sharing of authorities over government spending.

The vote of 14 justices, out of 15 members, was an impressive solid vote that gave authoritative weight to the decision. One member of the Court, Justice Presbitero Velasco Jr., took no part on the ground that his son was a legislator.

Instructively, the Court traced the history of the pork barrel system that its decision was addressing, and made these clarifications. “…The Court defines the pork barrel system as the collective body of rules and practices that govern the manner by which lump-sum, discretionary funds, primarily intended for local projects, are utilized through the respective participations of the Legislative and Executive branches of government, including its members. The pork barrel system involves two kinds of lump-sum discretionary funds: “First, there is the Congressional Pork Barrel, which is herein defined as a kind of lump-sum, discretionary fund wherein legislators, either individually or collectively organized into committees, are able to effectively control certain aspects of the fund’s utilization through various post-enactment measures and/or practices. In particular, petitioners consider the PDAF, as it appears under the 2013 GAA, as Congressional Pork Barrel, since it is, inter alia, a post-enactment measure that allows individual legislators to wield a collective power,” and “Second, there is the Presidential Pork Barrel which is herein defined as a kind of lump-sum, discretionary fund, which allows the President to determine the manner of its utilization.”

We now quote the second part of the Supreme Court decision, which

summarizes the major reasons for the judgment, including an exhortation to the Filipino people, and the dispositive portion that is the core of the decision.

estate amnesty tax to transfer his grandfather’s estate to his father.

The President also vetoed the presumption of correctness of the estate tax amnesty returns. According to the President, the valuation of properties that will be transferred is a technical aspect that cannot be left to mere self-declaration. He also said that an erroneous valuation not only impacts the revenue for the current estate but will also carry over to the subsequent transfer of the property regardless if it will be through sale, donation or succession.

All others who are not enumerated above will have to wait for another amnesty law to pass. Why did the President veto the general amnesty law where taxpayers who are not delinquent or who do not have criminal cases will have the opportunity to have a clean slate with the BIR? Under the proposed law, a taxpayer will be granted a general amnesty for all his tax liabilities from year 2017 and prior years by paying 2 percent of his total assets or 5 percent of his total net worth.

The President explained that the original objective of the general tax amnesty will not be achieved under the proposed law. He took exception to the failure of Congress to pass the waiver of bank secrecy law when a taxpayer avails himself of general tax amnesty. He said that this must be passed so that the country can comply with the international standards on exchange of information for tax

purposes. Waiver of bank secrecy is a safeguard against those who abuse the amnesty by declaring an untruthful asset or net worth. He also cited the government’s experience with the 2006 tax amnesty where it was proven that without the safeguard of the waiver of bank deposit, the objective of a general tax amnesty will not be achieved.

The President is not close to the idea that a general amnesty is passed as long as the waiver of bank secrecy for fraud is passed with it. It will be a long shot since the waiver of bank secrecy was already in the original proposal. It has been struck down

by Congress.

Many have been disheartened with the veto of the general amnesty because it means that their sleepless nights in dealing with the BIR are not yet over. Taxpayers will have to dig into their files to defend themselves against tax assessments that may cover year 2017 and prior years.

Amnesty is not here for all.

Conclusion

“THE Court renders this decision to rectify an error which has persisted in the chronicles of our history. In the final analysis, the Court must strike down the pork barrel system as unconstitutional in view of the inherent defects in the rules within which it operates. To recount, insofar as it has allowed legislators to wield, in varying gradations, non-oversight, postenactment authority in vital areas of budget execution, the system has violated the principle of separation of powers; insofar as it has conferred unto legislators the power of appropriation by giving them personal, discretionary funds from which they are able to fund specific projects, which they themselves determine, it has similarly violated the principle of nondelegability of legislative power; insofar as it has created a system of budgeting wherein items are not textualized into the appropriations bill, it has flouted the prescribed procedure of presentment and, in the process, denied the President the power to veto items; insofar as it has diluted the effectiveness of congressional oversight by giving legislators a stake in the affairs of budget execution, an aspect of governance which they may be called to monitor and scrutinize, the system has equally impaired public accountability; insofar as it has authorized legislators, who are national officers, to intervene in affairs to purely local nature, despite the existence of capable local institutions, it has likewise subverted genuine local autonomy.

“For as long as this nation adheres to the rule of law, any of multifarious unconstitutional methods and mechanisms the Court has herein pointed out should never again be adopted in any system of governance, by any name or form, by any semblance or similarity, by any influence or effect.

Disconcerting as it is to think that a system so constitutionally unsound has monumentally endured, the Court urges so constitutionally stewards in government to look forward with the optimism of change and the awareness of the past. At a time of great civic unrest and vociferous public debate, the Court fervently hopes that its decision today, while it may not purge all wrongs of society nor bring back what has been lost, guides this nation to the path forged by the Constitution so that no one may heretofore detract from its cause nor stray from its course. After all, this is the Court’s bounden duty and no other’s.”

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 irwin.nidea@ bdblaw.com.ph or call 403-2001 local 330.

2nd Front Page BusinessMirror

A8 Tuesday, February 19, 2019

www.businessmirror.com.ph

NFA must restructure in just 1, not 6 months

T

By Rea Cu

@ReaCuBM

HE National Food Authority Council has approved a motion instructing the NFA to submit a restructuring plan within 30 days, from the initial proposal of 180 days, as the government will implement a tariffied regime for rice starting on March 3 to further slash rice prices and bring down living costs for Filipinos.

In a statement on Monday, the Department of Finance (DOF) said, “Our objective in liberalizing rice imports is to bring down the costs of the staple. Our price is 50 percent higher than the others, including Singapore, which does not produce rice. Will it take us 180 days to effect a reduction in the cost of living our the people?”

The NFA Council also approved, during its meeting on Monday at the DOF headquarters, the transfer of the NFA functions to the Department of Agriculture (DA) as provided for under the rice tariffication law effective on March 3.

Dominguez pointed out that the transfer of the Food Development Center from the NFA to the

UN drive to cut mercury use in mining

T

HE Global Environment Facility (GEF) will finance a $180-million program to help reduce the use of mercury in artisanal gold mining in eight countries worldwide, including the Philippines.

In a statement, the United Nations Environment Program (Unep) said the five-year program will be done in coordination with the governments of Burkina Faso, Colombia, Guyana, Indonesia, Kenya, Mongolia, the Philippines and Peru.

Unep said the program will also introduce and facilitate access to mercury-free extraction methods. The program will also work with governments to formalize the sector, promoting miners rights, safety and access to markets.

“By phasing out mercury use and connecting miners to markets for responsibly produced and sourced minerals, GEF GOLD will help to ensure the gold value chain both supports miners and provides consumers with access to ethically pro-

duced, environmentally sustainable gold,” said Jacob Duer, head of the UN Environment Chemicals and Health branch.

“Promoting and facilitating access to non-mercury processing techniques for artisanal and small-scale miners is vital—not only to reduce mercury emissions but to protect the health of vulnerable communities.”

Every year, over 2,700 tones of gold is mined around the world and 20 percent or over 500 tones annually is produced by artisanal and small-scale miners.

Unep said that as many as 15 million people work in the artisanal and small-scale gold mining sector globally, including 4.5 million women and over 600,000 children.

These “miners operate on the edges of legality in many countries,” as ASGM is banned or limited by legislation and licensing procedures.

The UN agency said these miners and processors, the majority of them in developing countries,

work in often harsh conditions, without the protection of industry regulations on pay, health or safety, to sate the global hunger for gold, for jewelery, investment and consumer products.

Unep said studies indicate that mercury exposure in artisanal and small-scale miners is a major, largely neglected global health problem. It places miners and their communities at risk of permanent brain damage, vision and hearing loss, and delayed childhood development.

“Mercury emissions impact health and ecosystems, contaminating the food we eat, the water we drink and the air we breathe. This is a long-term problem we need to confront now. Joint initiatives like GEF GOLD demonstrate that when we unite for environmental action, we can protect community health, provide livelihood to those most in need and save the planet,” Joyce Msuya, acting executive director, UN Environment, said. Cai U. Ordinario

DA could also be done in a shorter time, rather than the initial proposal of 60 days.

It was also proposed during the meeting that the National Economic and Development Authority (Neda) determine which funds can be freed up as a result of NFA’s restructuring to ensure that farmers receive the support they need while the Rice Competitiveness Enhancement Fund mandated under the rice tariffication law is still in the process of being set up.

When asked if the implementation of the tariffied regime for rice signals the approval of the implementing rules and regulations of Republic Act (RA) 11203 or the Rice Tariffication Act, Finance Assistant

Secretary Antonio Joselito G. Lambino II said some parts of the law can be implemented even without an IRR. “There are parts of the law that are clear and can be implemented earlier than the parts of the law that require an IRR to implement. So the heart of the reform, which tariffies rice importation with the least government intervention, will be implemented ASAP [as soon as possible] to bring down rice prices for more than 100 million Filipino rice consumers,” said Lambino, also the DOF’s spokesman, in a text message.

Dominguez presided over the meeting as endorsed by Agriculture Secretary Emmanuel F. Piñol, who was unavailable during the meeting. Piñol is the chairman

of the NFA Council.

Also present at the meeting were Bangko Sentral ng Pilipinas Deputy Governor Diwa C. Guinigundo, Agriculture Undersecretary Ariel Cayanan, Finance Undersecretary Karl Kendrick T. Chua, National Treasurer Rosalia V. de Leon, Monetary Board Member Bruce Tolentino and representatives from the NFA, Neda, Land Bank of the Philippines, DA, Department of Trade and Industry, and Department of Social Welfare and Development.

According to the DOF, the meeting was called to immediately discuss the IRR of RA 11203 or the Rice Tariffication Act, following its signing into law by President Duterte on February 15.

PACQUIAO, RED CROSS BOOST GOVT DRIVE TO PUSH MEASLES VACCINATION

SEN. Richard Gordon, Philippine Red Cross chairman, joins Philippine Red Cross units that conducted a mass vaccination against measles in Baseco, Tondo, Manila, on the weekend. CONTRIBUTED PHOTO

By Claudeth Mocon-Ciriaco Correspondent

T NORTHEAST MONSOON AFFECTING THE WHOLE COUNTRY as of 4:00 pm - February 18, 2019

O help in the awareness campaign following the measles outbreak, Sen. Emmanuel “Manny” Pacquiao has teamed up with the Department of Health (DOH) in a television ad dubbed “Knock-Out Tigdas.”

The TV ad urges parents and caregivers to bring their children to health centers for free measles vaccination.

Pacquiao’s boost to the vaccine program comes on the heels of a personal pitch by President Duterte himself, appealing to parents to have their children immunized as alarm grows over the flare-up of measles, which can be quickly spread through the air, and the complications of which can be fatal.

Over the weekend, the DOH campaign also got a boost from the Philippine Red Cross (PRC), which conducted its own immunization drive in Manila’s urban poor enclave in Baseco, in Tondo.

A total of 1,307 children in Baseco were given the vaccine for the first phase of PRC’s community-based measles-control program.

PRC deployed 250 volunteers composed of doctors, nurses, health workers and logistics assistants to conduct house-to-house vaccination and station-based operations in Corazon Aquino Health Center, in partnership with the International Federation of Red Cross and Red Crescent Societies.

PRC Chairman Richard Gordon said the vaccination drive mirrors the organization’s fast actions to support efforts to fill the immunization gap in the country.

“We don’t stop at providing logistics support in overcrowded hospitals. We are working with the

Department of Health and the local government to immunize the children. We are doing the mass vaccination here in Manila first because this is the hot spot of the outbreak,” Gordon said.

PRC was scheduled to continue vaccinating children in Port Area, Manila, on Monday.

Pacquiao, Duque appeal

IN the TV ad, meanwhile, Pacquiao and Health Secretary Francisco T. Duque III underscored the importance of vaccination to prevent measles cases and deaths.

As of February 16, 2019, measles cases nationwide have reached 8,443 with 136 deaths. Most (49 percent) deaths occurred in the one to four years age group, of which 113/136 are unvaccinated.

Earlier, the DOH and the Department of Education (DepEd) also joined hands to help protect schoolchildren against measles.

Duque said they enlisted the DepEd’s assistance in immunizing school-age children as part of its Measles Outbreak Response.

The two agencies agreed to establish a task force to institute and coordinate monitoring mechanisms in schools and guidelines on information dissemination to strengthen the implementation of Outbreak Response Immunization.

“The Department of Health is actively working with other government agencies to address the Measles outbreak. I’m grateful to Secretary Briones and the whole Department of Education for their cooperation and continued support,” Duque said.

The DepEd shall gather essential data on measles cases from schools, collaborate with the health-center staff to monitor absent pupils and conduct measles evaluation by cat-

egorizing children as vaccinated, doubtful or not vaccinated.

The DOH, on the other hand, will provide the DepEd with more health-promotion and communication materials regarding measles and measles vaccination for schools. Duque has continuously appealed to parents to vaccinate their children as he also appealed to the public to rebuild their trust and confidence in vaccines.

“Vaccines were long proven to be effective, and I am quite sure that all of us sometime in our lives have been recipients of these vaccines, which had protected us from various diseases,” he said, adding that Vitamin A supplements and oral polio vaccines are also given to children six to 59 months old.

Red Cross initiative ASIDE from vaccinating children, PRC also took time to educate parents on the importance of vaccination to protect their children from acquiring contagious diseases. Hot meals were served to 1,733 parents and children who participated in the program.

The community-based measlescontrol program is just one of PRC’s responses to the measles outbreak.

PRC installed measles care units or outdoor hospital wards in five hospitals, namely San Lazaro Hospital in Manila, Philippine General Hospital in Manila, Amang Rodriguez Memorial Medical Center in Marikina, Cainta Municipal Hospital in Rizal and Quirino Memorial Medical Center in Quezon City.

These measles care units are supplied with beds, blankets, pillows, chairs, air-conditioners, water and hygiene facilities, and portable toilets. As of February 18, the measles care units have served a total of 443 patients infected with measles.

Editor: Efleda P. Campos

Companies BusinessMirror

Tuesday, February 19, 2019

B1

DICT: Congress, Senate need to resolve Mislatel franchise issue T

By Lorenz S. Marasigan

@lorenzmarasigan

HE third telco initiative has once again found itself in limbo, no thanks to the controversial congressional franchise of winning bidder Mindanao Islamic Telephone Co. Inc. (Mislatel), pushing back timelines for its rollout and operation indefinitely.

Department of Information and Communications Technology Secretary Eliseo M. Rio said Mislatel—a group backed by businessman Dennis

A. Uy and China Telecom Corp. Ltd.— was able to submit some of its postqualification requirements, but failed to forward those that are linked to its

franchise.

“We cannot move until we get a definite answer from Congress. The House of Representatives and the Senate have yet to reconcile through a bicameral meeting their resolutions for the franchise of Mislatel. We are waiting for them to finish reconciling the two resolutions,” he said in a press briefing.

Realistically, Rio said the bicam resolution may be released after the May 13 elections, unless the two legislative bodies set up a special session for Mislatel’s franchise.

“So, we’re in a status quo until we get the resolution,” he lamented.

Mislatel’s franchise has been questioned by critics, which prompted both chambers of Congress to conduct separate hearings for it.

The franchise was not utilized since it was granted by lawmakers two decades ago due to the “armed conflict in Maguindanao,” its chosen area of operations.

Likewise, the groups sought for the transfer of controlling stake in Mislatel to the camp of Uy, a close associate and campaign funder of President Duterte. Both legislative bodies approved the transfer, albeit different in wording, hence the need for the consolidation

of the resolutions.

“Basically we cannot give t hem t he f requenc ies a nd their certificate of public convenience and necessity—their permit to operate—until we get the approval of the bicam, so they cannot operate as a telco now,” Rio said.

This puts all the timelines indefinitely on hold. Mislatel wanted to start operations by 2020, based on its rollout plan submitted to the Senate.

Once all these have been addressed, the regulator may then award Mislatel its own certificate of public convenience and necessity and a swathe of radio frequencies, both of which will

allow it to operate telco services across the Philippines.

Based on its bid, Mislatel will cover roughly 37 percent of the whole Philippines with a minimum Internet speed of 27 Mbps through a P150-billion capital and operational expenditures budget during its first year of operation.

Its five-year commitment entails P257 billion in total money spent, which should provide for an 84-percent coverage with a minimum Internet speed of 55 Mbps.

The third telco is seen to break the duopoly of Globe and Smart, and introduce more competition in the hotly contested local telco market.

DM Wenceslao to double capex this year to ₧4 billion P

By VG Cabuag

@villygc

ROPERTY developer DM Wenceslao and Associates Inc. said it may spend P4 billion this year as it continues the construction of projects in Aseana City in Parañaque.

Herherson Asiddao, the company’s chief finance officer, said the capital expenditure (capex) this year is double that of last year’s by close to P2 billion in actual spending.

The company is allotting between P3 billion and P5 billion in capex every year or about a five-year capex of P21 billion.

For 2018, DM Wenceslao had a net income of P1.91 billion, 23 percent higher from the previous year’s P1.55 billion.

Revenues amounted to P2.15 billion, of which P1.9 billion and about 88 percent of it coming from recurring income from rentals.

Leasing of land grew 5 percent to P965.2 million, while rentals of buildings and other revenues related to leasing increased 77 percent and 90 percent to P762.1 million and P173.8 million, respectively.

Meanwhile, other income in connection with the settlement of the company’s joint-venture agreements was P1.2 billion.

“We have a clear set of strong results and compelling opportunities ahead.

Profitability has consistently improved over the years, with net income increasing 26 percent annually since 2016. Our holistic approach to Aseana City master plan brings together our construction and real-estate development capabilities from project planning to property management,” said Delfin Angelo C. Wenceslao, the company’s CEO. “This full scope of services provides us with a diversified earnings base and substantial recurring revenue streams.

More importantly, it positions us well to

complete approximately 380,000 square meters of leasable and salable properties by 2022 and grow Aseana City into a next-generation central business district within Metro Manila,” he said.

Throughout 2018, the company said it made progress in spearheading the development of Aseana City through implementing its pipeline projects. Earlier in the year, it has delivered its third office building, Aseana Three, which added 30,000 sq m to its total leasable gross floor area.

Construction of 8912 Asean Avenue (formerly Aseana Four) has also started in light of sustained office demand and is on track for 2020 completion.

During the fourth quarter, it unveiled its second residential project. MidPark Towers is a four-tower condominium development with 42,000 sq m in salable floor area positioned as luxury property.

“The rising economic activity and employment opportunities in the Manila Bay area make the residential segment highly promising. We have expanded our footprint in this fast-growing market, which we expect to rise further in 2019.

MidPark Towers has achieved significant sales in the few weeks it has been available, where one tower was sold in one month since the project was launched in November. As of February 15, it has sold an aggregate of P2.811 billion worth of units—an excellent performance considering we are less than two months into the year,” it said.

In line with the new accounting standards PFRS 9 and 15, the company restated its consolidated statements of profit and financial position. The new standard impacts the presentation of recognition of residential revenue and costs, while having no impact on cash flow.

Megaworld launches condo in Bacolod township

M

EGAWORLD Corp. on Monday said it is launching another residential condominium development inside The Upper East township in Bacolod City, just six months after it successfully launched its first residential tower, One Regis, last year.

Two Regis is a 14-story residential tower that will be built at the corner of Regis and Madison Streets within the 34-hectare township in the eastern part of Bacolod City.

Located beside the proposed Megaworld Lifestyle Mall, Two Regis will offer units ranging from studio of up to 31.5 square meters, executive studio of up to 37.5 sq m, one-bedroom up to 43.5 sq m and two-bedroom of up to 87 sq m.

Several available units will have their own balcony, overlooking the transforming landscapes of the township.

A key feature of the residential tower will be the three Skygardens, two of which are located on the 12th level, also known as the Lower Sky Suites Floor, and one at the center of the eighth level, also known as the Garden Suites Floor.

The penthouse floor will offer units in varying size options, with views of the sunrise from the Negros Mountain Ranges and the sunset along Guimaras Strait.

“The overwhelming success of our first residential tower is a clear indication that Bacolod has embraced the convenience of both condo living and township living. The master-planned township concept that we are bringing to Bacolod makes Megaworld different as a condominium developer, and we are happy to pioneer this concept in Negros,” said Rachelle Peñaflorida, vice president for sales and marketing, Megaworld Bacolod. VG Cabuag

B2

Companies BusinessMirror

Tuesday, February 19, 2019

PSE STOCK QUOTATIONS

February 18, 2019

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 PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FIRST ABACUS FERRONOUX HLDG FILIPINO FUND IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

59.1 133.4 89.2 27.7 12.94 80.35 13.8 21.6 48.4 59 26.5 173 61.8 1.42 2.23 17.4 0.61 4.43 7.75 1.42 0.465 775 1.17 185 1800 1.14

59.25 133.5 90 27.75 12.96 80.4 13.98 22.2 48.45 59.05 26.8 173.1 62 1.48 2.28 17.44 0.66 4.44 8.59 1.5 0.49 820 1.19 187.6 1803 1.18

58.15 133.7 89.55 27.95 13.14 80.1 13.8 21.55 48.3 59 26.8 172.2 62 1.43 2.23 17.36 0.61 4.6 7.75 1.49 0.465 820 1.23 185 1800 1.14

59.25 134.1 91 28 13.14 81 13.8 22.2 48.95 59.15 26.8 175.4 62 1.48 2.23 17.64 0.66 4.6 7.75 1.49 0.495 820 1.23 185.1 1800 1.15

58.15 133.2 89.2 27.65 12.9 79.9 13.62 21.55 48.3 58.9 26.5 172.2 61.8 1.42 2.23 17.36 0.6 4.43 7.75 1.49 0.465 820 1.16 185 1800 1.14

59.25 133.5 89.2 27.75 12.96 80.4 13.8 22.2 48.4 59 26.5 173.1 62 1.48 2.23 17.4 0.66 4.43 7.75 1.49 0.465 820 1.16 185 1800 1.14

10110 3002730 2985820 113300 170100 3559260 35300 1300 115400 7610 95100 60070 16410 130000 38000 119400 127000 147000 1500 1000 220000 20 1112000 1070 455 122000

596085 401286788 268619175 3141085 2208332 286224216 486384 28120 5593460 449617 2523135 10401968 1016956.5 185680 84740 2090762 79380 653310 11625 1490 102800 16400 1321170 197951 819000 139580

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

1.57 34.9 0.244 20.3 72.75 358 27.05 6.6 3.7 1.29 11.5 47 6.36 16.64 16.6 15.86 6.62 11.64 7.6 99.8 1.03 26.5 312 48.05 12.72 13.08 0.201 1.37 12.58 1.88 4.75 2.82 0.132 145 1.71 2.9 63.95 71 2.25 6.11 16.02 8.1 9.5 18.3 8.88 1.11 1.39 120.2 1.8 1.65 3.54 6.02 41 3.22 12.4 1.71 5.87 1.36 28.8

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

0.82 22 945 63.55 13.88 6.5 0.83 1.42 1.44 7.46 12.28 13.92 0.265 1000 6.12 67 5.53 0.59 5.15 15 0.57 4.83 0.042 2.66 1.17 2.65 1.36 459.2 970 174.5 0.79 2.36 281.4 0.255 0.335

1.58 35 0.25 20.4 72.8 359 27.2 6.61 3.78 1.3 11.7 47.05 6.39 16.66 17 16 6.64 11.7 7.69 99.85 1.05 27.3 313 54 12.8 13.1 0.202 1.38 12.64 1.89 4.8 2.96 0.135 145.2 1.72 3.1 66 82.5 2.26 6.4 16.04 8.11 9.55 18.5 9.36 1.12 1.4 127.8 1.82 1.83 3.72 6.1 43.45 3.23 12.42 1.73 6.17 1.4 28.9

1.56 35.9 0.246 20.65 72.8 361.8 27.35 6.75 3.78 1.31 11.6 47.4 6.36 16.3 16.8 15.98 6.7 11.66 7.62 95.4 1.03 27.4 317 53.2 14 13.1 0.202 1.36 12.54 1.89 4.75 3.02 0.132 146 1.72 2.84 64 71 2.25 6.47 15.96 8.25 9.39 18.2 8.88 1.22 1.4 125 1.88 1.66 3.6 6 42.5 3.2 12.5 1.72 5.92 1.37 29

1.59 35.9 0.255 20.7 74.2 361.8 27.45 6.8 3.79 1.32 11.7 47.4 6.4 16.76 17.04 15.98 6.7 11.7 7.7 99.9 1.05 27.75 319.8 55 14 13.3 0.207 1.39 12.9 1.89 4.75 3.04 0.132 146 1.73 4 66 71 2.28 6.47 16.04 8.25 10 18.54 8.89 1.22 1.42 128 1.88 1.66 3.79 6.05 42.5 3.46 12.5 1.74 5.92 1.41 29

1.52 34.3 0.244 20.1 72.7 355 27.05 6.5 3.7 1.29 11.32 46.7 6.36 16.28 16.8 15.8 6.62 11.54 7.6 95.3 1.03 26.3 312 53.2 12.62 13.02 0.201 1.35 12.54 1.88 4.75 2.82 0.132 145 1.69 2.84 64 71 2.23 6.1 15.9 8 9.39 18.08 8.88 1.1 1.38 125 1.8 1.66 3.5 6 41 3.19 12.32 1.71 5.87 1.34 28.55

1.57 34.9 0.25 20.3 72.8 358 27.2 6.6 3.78 1.29 11.7 47.05 6.39 16.66 16.98 15.88 6.62 11.64 7.6 99.85 1.03 27.3 312 54 12.8 13.08 0.202 1.38 12.58 1.88 4.75 2.82 0.132 145 1.71 3 66 71 2.26 6.1 16.02 8.11 9.5 18.5 8.88 1.11 1.41 127.8 1.8 1.66 3.72 6.05 41 3.22 12.42 1.73 5.87 1.4 28.9

1495000 850700 2720000 3744200 507290 90680 122100 26819700 706000 5865000 392200 1007200 50000 663800 2000 345900 25800 955000 90000 1821320 2234000 332100 287990 5150 159200 188600 1490000 2492000 43000 171000 10000 63000 610000 331010 1577000 1208000 980 40 9320000 1500 595000 599600 3107400 4164400 6800 3398000 905000 230 189000 1000 30000 88200 89200 38348000 398000 197000 30600 313000 258500

2330640 29746215 669700 76021260 37514127 32463722 3319900 177022691 2668950 7622020 4554206 47326490 318665 11076480 33786 5487316 171752 11081508 684866 178097365.5 2320630 9066285 90486342 277990 2064538 2472398 302140 3413100 541554 322220 47500 182680 80520 48089121 2703830 3894960 63580 2840 21,040,150( 9520 9519982 4818289 29545121 76647322 60399 3888130 1263810 29334 343150 1660 109150 529450 3659050 127078940 4930250 339740 180787 424830 7457165

HOLDING & FRIMS 0.83 22.4 945.5 64.6 13.92 6.54 0.85 1.44 1.45 7.48 12.36 14 0.27 1005 6.15 67.1 5.87 0.62 5.17 15.34 0.59 4.84 0.043 2.68 1.21 2.78 1.37 497.6 975 175 0.82 2.49 285 0.26 0.34

0.86 22 948.5 65.4 13.86 6.59 0.9 1.44 1.44 7.34 12.42 14.06 0.237 990 6.14 65 5.51 0.63 5.26 15.5 0.59 4.8 0.043 2.61 1.17 2.85 1.4 466 971 165 0.8 2.37 280 0.26 0.375

0.86 22.95 949 65.4 13.98 6.59 0.91 1.45 1.47 7.5 12.5 14.3 0.285 1005 6.15 67.3 5.85 0.63 5.26 15.5 0.59 4.9 0.045 2.69 1.18 3.5 1.4 466 994.5 175.7 0.8 2.37 285 0.265 0.385

0.82 22 943.5 63.55 13.72 6.5 0.82 1.42 1.42 7.34 12.28 13.22 0.237 988 6.12 65 5.51 0.61 5 15 0.57 4.8 0.042 2.6 1.17 2.65 1.37 466 961 165 0.79 2.36 278 0.255 0.335

0.83 22 945 63.55 13.88 6.51 0.83 1.44 1.44 7.48 12.28 13.98 0.265 1000 6.15 67.1 5.75 0.62 5.15 15 0.57 4.83 0.042 2.68 1.17 2.82 1.37 466 970 174.5 0.79 2.36 285 0.26 0.34

44806000 137100 248170 679270 5783000 30200 2229000 2465000 523000 398900 1274500 1357700 7250000 124820 7000 8239880 11300 203000 1242000 879000 138000 3497000 92700000 582000 39000 220000 164000 30 242880 2406420 126000 9000 8040 2440000 34290000

37309160 3054330 234788965 43622084 80004646 196681 1882700 3532850 755080 2966112 15702800 18825096 1952160 123817805 42937 543967208.5 65591 125860 6303972 13436300 79240 16955270 4036000 1529080 45670 636970 224950 13980 236419415 416643683 99840 21310 2276556 631750 12170800

543665.5 -11053540 -9817055 2790 -1201566 -25934031.5 1380 843034.9997 46688.5 1348780 -399260 -4326 352874 4470 -21280 185000 -45240 4186490 393840 -47658120 -2048739.5 -7469346 1400555 -12390136 -18950 -478400 -574166 -10499835 -101760 3208526 139026 -30022 -5236006 661162 -136448 -36050 -38843858 11628 -23240.0002 273327.9997 3020 8176447 -213150 -37310 1,293,309.9994) 616392 24000 6702903 50303362 50740 52460 -335900 -140650 -4065230 1587790 16200 -544690 -751440 -2280 2613940 -10652996 -7744348 118950 434000 1606013 -2506030 1251006 5300 -62848800 -72903150.5 -1757843 3286956 3280210 -52400 235500 -86042620 107722112 -38920 78000 570650

PROPERTY

ARTHALAND CORP 0.89 0.91 0.9 0.94 0.87 0.92 4503000 4041790 89000 ANCHOR LAND 10.58 10.98 11.04 11.04 11.04 11.04 100 1104 AYALA LAND 44.6 44.65 44.6 44.95 44.4 44.65 8435200 376413400 46766065 ARANETA PROP 1.9 1.91 2.04 2.04 1.88 1.91 393000 755800 -95000 BELLE CORP 2.52 2.53 2.51 2.63 2.5 2.53 1009000 2566110 -633439.9996 A BROWN 0.79 0.8 0.79 0.81 0.79 0.8 503000 400150 CITYLAND DEVT 0.9 0.93 0.91 0.94 0.89 0.93 284000 257920 8900 CROWN EQUITIES 0.25 0.255 0.255 0.26 0.25 0.25 16050000 4045300 CEB LANDMASTERS 4.11 4.18 4 4.19 4 4.18 1204000 4951400 CENTURY PROP 0.49 0.495 0.485 0.5 0.485 0.49 4680000 2312800 10000 CYBER BAY 0.425 0.43 0.415 0.45 0.41 0.43 1560000 668950 DOUBLEDRAGON 22.8 22.85 22.5 23.1 22.5 22.85 371100 8460935 -216455 DM WENCESLAO 10.1 10.14 10.4 10.4 10 10.14 903900 9140892 5080 EMPIRE EAST 0.54 0.55 0.57 0.59 0.54 0.54 2693000 1476600 -163900 EVER GOTESCO 0.134 0.138 0.133 0.138 0.13 0.134 1290000 170260 9060 FILINVEST LAND 1.53 1.54 1.53 1.55 1.53 1.54 4587000 7073280 -694720 GLOBAL ESTATE 1.23 1.24 1.25 1.27 1.24 1.24 1929000 2404260 8990 HLDG 11.94 11.98 11.98 12.2 11.52 11.94 6515500 76469654 1285880 PHIL INFRADEV 2.21 2.22 2.21 2.24 2.2 2.22 1987000 4389260 -26480 CITY AND LAND 0.83 0.85 0.86 0.86 0.8 0.85 454000 372910 19870 MEGAWORLD 5.12 5.13 5.13 5.2 5.12 5.12 9131800 47060089 5606341 MRC ALLIED 0.435 0.44 0.435 0.44 0.425 0.44 8000000 3452700 -38750 PHIL ESTATES 0.465 0.475 0.47 0.47 0.465 0.47 100000 46850 PRIMEX CORP 2.83 2.84 2.78 2.84 2.66 2.83 709000 1967610 169820 ROBINSONS LAND 22.6 22.7 22 22.8 22 22.6 2102100 47504120 31716545 PHIL REALTY 0.47 0.485 0.48 0.485 0.47 0.475 530000 252300 ROCKWELL 2.02 2.05 2.03 2.05 2.02 2.02 128000 260300 SHANG PROP 3.12 3.13 3.15 3.15 3.12 3.12 93000 291680 STA LUCIA LAND 1.4 1.41 1.44 1.44 1.36 1.41 358000 500210 SM PRIME HLDG 38.25 38.5 38.85 39.2 38.25 38.25 4504200 174125390 -80650065 STARMALLS 6.4 6.44 6.2 6.6 6.12 6.4 602900 3855825 SUNTRUST HOME 0.79 0.8 0.84 0.84 0.78 0.79 239000 188860 VISTA LAND 7.3 8 6.8 8.5 6.7 8 65504400 504708041 -150971113

SERVICES ABS CBN 22.85 23.1 23 23.2 22.85 22.85 156300 3601410 GMA NETWORK 5.72 5.73 5.8 5.8 5.72 5.73 398300 2285960 MANILA BULLETIN 0.72 0.73 0.8 0.82 0.67 0.73 13110000 9656120 GLOBE TELECOM 1880 1900 1900 1938 1880 1880 80920 153461305 -48842280 PLDT 1110 1121 1131 1148 1110 1110 127245 142713380 -8417915 APOLLO GLOBAL 0.044 0.046 0.044 0.046 0.043 0.046 65200000 2888700 DFNN INC 7.2 7.3 7.2 7.39 7.2 7.39 21200 155938 IMPERIAL 2.02 2.1 2.05 2.08 2.02 2.02 13000 26770 ISLAND INFO 0.134 0.135 0.133 0.137 0.132 0.135 9000000 1207290 -13500 ISM COMM 5.9 5.92 6.2 6.2 5.89 5.9 12248600 73785035 4181296 JACKSTONES 3.25 3.34 3.16 3.38 3.16 3.34 40000 128240 NOW CORP 3.05 3.06 3.07 3.09 2.99 3.05 2947000 8908530 3020 TRANSPACIFIC BR 0.445 0.45 0.45 0.455 0.44 0.445 8400000 3756700 1114800 PHILWEB 3.13 3.14 3.15 3.22 3.14 3.14 920000 2910960 2GO GROUP 13.2 13.22 13.7 13.7 13.2 13.22 41100 549336 -26480 CEBU AIR 83.55 84 86.5 87 83.05 84 159300 13388671.5 3518490.5 CHELSEA 6.1 6.11 6.24 6.28 6.11 6.11 1804600 11145986 210850 INTL CONTAINER 118 118.8 115.8 120 115.8 118 3165020 376034958 167821780 LBC EXPRESS 15.48 15.96 15.98 15.98 15.02 15.9 5700 88310 LORENZO SHIPPNG 0.89 0.91 0.89 0.9 0.89 0.89 78000 69870 MACROASIA 19.8 19.88 19.68 19.98 19.68 19.88 1076300 21340420 8262424 METROALLIANCE A 2.07 2.1 2.07 2.13 2.07 2.07 120000 250380 PAL HLDG 11.2 11.36 12.28 12.4 11.1 11.32 298200 3432734 60100 HARBOR STAR 2.86 2.9 2.93 2.93 2.87 2.9 1455000 4225320 -58400 ACESITE HOTEL 1.3 1.35 1.31 1.35 1.29 1.3 134000 174920 BOULEVARD HLDG 0.067 0.068 0.068 0.069 0.067 0.068 17930000 1212970 DISCOVERY WORLD 2.16 2.29 2.29 2.29 2.29 2.29 6000 13740 GRAND PLAZA 11.06 11.86 11.9 11.9 11.8 11.8 200 2370 WATERFRONT 0.71 0.72 0.72 0.74 0.71 0.71 1481000 1069880 CENTRO ESCOLAR 7.67 8.38 8.38 8.38 8.38 8.38 700 5866 IPEOPLE 10.82 11.08 10.94 11.22 10.72 10.82 10000 108970 STI HLDG 0.7 0.71 0.73 0.74 0.7 0.71 15561000 11127380 -676080 BERJAYA 3.04 3.05 2.86 3.04 2.85 3.04 673000 1998680 -20510 BLOOMBERRY 12.9 12.92 12.5 13.14 12.22 12.92 25049800 320811118 44356060 PACIFIC ONLINE 9.25 9.26 9.3 9.32 9.26 9.26 24700 229816 LEISURE AND RES 3.29 3.3 3.35 3.35 3.29 3.3 357000 1179270 36300 MANILA JOCKEY 4.72 4.84 4.75 4.83 4.72 4.83 76000 360050 PH RESORTS GRP 5.07 5.2 5.4 5.4 4.99 5.2 1057400 5378407 5100 PREMIUM LEISURE 0.96 0.97 0.99 0.99 0.96 0.97 4953000 4828500 1038060 PHIL RACING 7.61 8.5 7.47 7.47 7.47 7.47 3500 26145 TRAVELLERS 5.56 5.6 5.6 5.6 5.56 5.56 422200 2357558 -953447.0001 METRO RETAIL 3.06 3.09 3 3.09 2.99 3.09 3132000 9566970 1900990 PUREGOLD 46.7 47.7 47.9 47.95 46.5 46.7 300800 14228870 2688735 ROBINSONS RTL 87 88 86.6 89 86.55 87 1397910 121670983.5 40436328.5 PHIL SEVEN CORP 133.5 134 134 134 132.8 133.5 51220 6837664 113312 SSI GROUP 2.08 2.09 2.14 2.2 2.09 2.09 16649000 35313460 8195140 WILCON DEPOT 14.88 14.9 14.2 14.96 14.06 14.9 7437900 109453204 -16873912 APC GROUP 0.445 0.45 0.46 0.46 0.45 0.45 1570000 706800 EASYCALL 15.2 15.26 15 15.3 14.88 15.26 132000 1984710 -14880 GOLDEN BRIA 353 359.8 360 360 359.8 360 220 79164 IPM HLDG 7.12 7.2 7.21 7.21 7.15 7.15 3200 22932 PAXYS 3.31 3.32 3.32 3.4 3.32 3.32 11000 36600 -29800 PRMIERE HORIZON 1.35 1.36 1.35 1.39 1.31 1.35 29285000 39630970 -40500 SBS PHIL CORP 8.75 8.95 8.8 9 8.25 8.95 416500 3699511 -222750

MINING & OIL ATOK 13.06 13.7 13.44 13.72 13.2 13.72 5700 75758 APEX MINING 1.51 1.52 1.53 1.53 1.49 1.51 597000 898370 3000 ABRA MINING 0.0021 0.0022 0.0022 0.0022 0.0021 0.0022 47000000 100900 -21000 ATLAS MINING 2.96 3 3 3.05 2.96 2.96 100000 299430 -8910 BENGUET B 1.3 1.39 1.39 1.39 1.39 1.39 2000 2780 COAL ASIA HLDG 0.305 0.32 0.305 0.325 0.3 0.305 640000 199200 CENTURY PEAK 2.17 2.18 2.19 2.23 2.15 2.17 1173000 2543160 DIZON MINES 7.95 8.16 8.14 8.16 7.95 8.16 1400 11350 FERRONICKEL 1.52 1.53 1.67 1.7 1.53 1.53 26380000 43371660 -770320 GEOGRACE 0.295 0.3 0.31 0.32 0.295 0.3 3150000 949650 30000 LEPANTO A 0.126 0.13 0.129 0.131 0.126 0.13 3280000 420700 LEPANTO B 0.13 0.133 0.133 0.133 0.13 0.133 910000 119260 MANILA MINING A 0.009 0.0096 0.0091 0.01 0.009 0.0095 35000000 338000 MANILA MINING B 0.0095 0.0097 0.0091 0.01 0.009 0.0097 61000000 576300 -269799.9999 MARCVENTURES 1.13 1.14 1.13 1.16 1.13 1.14 573000 654720 NIHAO 1.09 1.1 1.15 1.15 1.08 1.12 98000 107200 87000 NICKEL ASIA 2.73 2.75 2.64 2.73 2.61 2.73 4899000 13118590 -3360000 OMICO CORP 0.69 0.7 0.76 0.76 0.7 0.7 1523000 1093570 ORNTL PENINSULA 1 1.01 1.04 1.04 0.99 1 570000 570890 PX MINING 4.14 4.2 4.07 4.25 4.07 4.14 1442000 6010190 -816420.0002 SEMIRARA MINING 22.6 22.95 23.1 23.2 22.6 22.6 1290200 29448675 -3528975 UNITED PARAGON 0.0082 0.0085 0.008 0.0085 0.008 0.0085 7000000 56900 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 115400000 1404700 ORNTL PETROL B 0.012 0.013 0.013 0.013 0.013 0.013 5200000 67600 -37700 PHILODRILL 0.012 0.013 0.012 0.013 0.012 0.013 186500000 2409300 PHINMA PETRO 3.3 3.46 3.48 3.48 3.48 3.48 1000 3480 PXP ENERGY 14.1 14.12 14.16 14.2 14.06 14.1 453000 6397852 -223292

PREFFERED

DD PREF 96.55 97 98 98 96.7 96.7 1150 111400 SMC FB PREF 2 962 998 991 991 991 991 10 9910 FPH PREF C 450.2 479 450.2 450.2 450.2 450.2 100 45020 LR PREF 0.99 1.01 1 1 1 1 100000 100000 MWIDE PREF 100 102 100 100 100 100 70 7000 SFI PREF 1.76 1.8 1.82 1.82 1.8 1.8 704000 1268350 -1268350 SMC PREF 2B 75.1 75.5 75.15 75.15 75.05 75.05 27620 2072972.5 SMC PREF 2C 76.5 76.6 76.5 76.6 76.5 76.6 39460 3018713 22950

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

20.6 5.56

21 5.75

20.7 5.75

21.35 5.8

20.6 5.56

20.6 5.75

73300 24800

1515840 142781

WARRANTS LR WARRANT

1.92

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.7 MAKATI FINANCE 2.69 XURPAS 1.53

1.96

1.92

1.92

1.91

1.92

143000

273640

-

4.72 2.9 1.54

4.72 2.93 1.59

4.72 2.93 1.64

4.66 2.93 1.51

4.7 2.93 1.53

424000 5000 48769000

1987860 14650 76545400

-239820 -29121770

EXHANGE TRADE FUNDS FIRST METRO ETF

117.5

2135 -

118

118.2

118.4

117.5

117.5

3300

389880

-

www.businessmirror.com.ph

DICT, ‘common tower’ providers meet to fast-track infra buildup

I

By Lorenz S. Marasigan

@lorenzmarasigan

NDUSTRY stakeholders have two weeks to come up with a list of tower requirements for this year to jump-start the construction of telco infrastructure in the Philippines, as the government guns to address the deficiency through a policy that should be released by the second quarter of 2019.

Monday saw the Department of Information and Communications Technology (DICT), Smart Communications Inc., Globe Telecom Inc., and Mindanao Islamic Telephone Co.

Inc. (Mislatel) meeting with “common tower” providers to discuss how the industry will move forward with the shared infrastructure initiative.

During the meeting, they agreed to

create a list of locations of the towers that telcos need. The list will then be submitted to the 11 common tower providers, who will separately offer telcos rental rates.

“We will have 15 days to come up with the number of towers and their locations for this year, relating it also with the number of towers the government has that can be made available. With these locations, the mobile network operators can now come up with their tenders,” Information and Communications Secretary Eliseo M. Rio Jr. said. So far, the government has signed memoranda of understanding with eight common tower providers, namely IHS Towers, Edotco, Isoc Infrastructure, iSON Towers, China Energy Equipment, Rt Telecom Sdn. Bhd, Aboitiz InfraCapital Inc., and MGS Construction Inc.

The ICT department is also set to sign three more deals with the following on Tuesday: Frontier Tower Associates Management Pte. Ltd., GNITower Inc. Consortium and American Towers. Rio said his group is signing these deals to start the construction of towers, even as his office has yet to come up with a solid policy on shared infrastructure, as the Philippines is in dire need of more infrastructure.

“We badly need towers. Our tower density is only 0.14 per 1,000 subscribers. In Vietnam, it’s 0.2, and in Indonesia it’s 0.4. We are the lowest in the region. We need about 50,000 towers more to achieve the 0.5 mark,” he said. As for the release of policy, ICT Assistant Secretary for Operations Alan A. Silor said the agency aims to finish it by the “second quarter of this year.”

PetroSolar receives panels for Tarlac solar-power project

By Lenie Lectura

@llectura

P

ETROSOLAR Corp. (PetroSolar) has received delivery of 61,200 solar panels for its Tarlac-2 solar-power project.

The company said on Monday that Trina Solar has completed delivery of all the solar panels, marking an important milestone for the project.

Trina Solar delivered 61,200 pieces of Trina Solar Tallmax TSM PD14A model panels manufactured in Changzhou, China. These panels have a special reflecting film technology which means more light is reflected back into the solar cell, so it can absorb more energy and generate more electricity.

The Tarlac-2 solar-power project is a 20.4 megawatt solar-power facility being built on 22 hectares of land in Central Technopark, Tarlac City. When completed by the second quarter of 2019, it will add to the adjoining 50-MW Tarlac-1 solar plant to make PetroSolar’s 70-MW Tarlac facility the single, biggest contiguous operating solar farm in Luzon.

Solenergy Systems Inc. is the engineering, procurement and construction management (EPC) services provider for the project.

Trina Solar Philippines Country Manager Junrhey Castro said the company is confident the Tallmax panels will be of great competitive value to PetroSolar.

“We are committed to further sup-

porting PetroSolar’s future projects with the technological and commercial advantages that Trina products offer. This collaboration is part of our long-running commitment to emerging markets in Asia Pacific,” Castro said. “The Philippine solar industry has tremendous room for development. We will continue to further expand our commitment to support renewable energy in the Philippines.”

PetroSolar Vice President Francisco Delfin Jr., meanwhile, said “Trina’s on-time delivery of the solar panels from their China plant to the Tarlac-2 project site testifies Trina’s focus on customers’ needs. “We are pleased to work with Trina Solar for the Tarlac-2 project and look forward to more cooperation with them to benefit our future solar projects and customers.”

Delfin also acknlwedged the government’s support. “The milestone and seamless delivery also owes to the support that our project has received from several government agencies dealing with our importation such as the Department of Energy, the Board of Investments, the Bureau of Customs, and the Subic Bay Metropolitan Authority.”

PetroSolar, is a joint venture of the Philippines’s PetroGreen Energy Corp. and EEI Power Corp. PGEC is the renewable energy-holding unit of publicly listed PetroEnergy Resources Corp. , a member of the Yuchengco Group of Cos.

Hyundai vehicle sales slowed in Jan

S

ALES of Hyundai vehicles in January slipped 5 percent in spite of market expectations that the automobile industry will rebound this year.

In a sales report on Monday, Hy undai A sia Resources Inc. (Hari) reported it sold 2,758 vehicles for the first month of 2019.

This was 5 percent slower than the 2,903 units sold in January last year, and a decline of 6.7 percent from the 2,957 units sold last December.

The passenger car segment suffered a heavy decline in sales at 1,443 units, down 29.1 percent from the 2,036 vehicles during the same month last year.

Buyers of passenger vehicles are in a transition phase and they will most likely increase consumption with the release of the new Accent, Hari said. The firm is also expecting sales of this bracket to grow in the months to come with the recent launch of the Reina.

Sales of light commercial ve-

hicles in January grew 51.7 percent to 1,315 units from 867 units during the same month last year.

Hari President and CEO Maria Fe Perez-Agudo said the January sales decline can be attributed to the cautious attitude of the buying public brought about by the unstable macroeconomic performance last year. She, however, maintained the outlook for the automotive industry remains optimistic with market conditions becoming more favorable.

She noted inflation in January was slower at 4.4 percent, slower than the 5.1 percent last December, but still faster than the 3.4 percent during the same month last year.

The automotive industry, Agudo argued, will further benefit from the stabilizing economy, as it will be coupled with the release of new brands this year. She said Hari, for one, will make public new models to boost the demand for Hyundai vehicles in the country. Elijah Felice E. Rosales

MUTUAL FUNDS

February 18, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM GROWTH FUND, INC. -A 264.33 -9.27% 3.38% 3.07% 4.8% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5837 -2.15% 13.84% 4.65% 9.92% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1289 -10.03% 5.02% 1.83% 5.79% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9411 -5.12% N.A. N.A. 5.68% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8647 N.A. N.A. N.A. 5.36% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.5126 -7.45% 3.53% 2.56% 4.58% MBG EQUITY INVESTMENT FUND, INC. -A 122.35 3.82% N.A. N.A. 5.06% ONE WEALTHY NATION FUND, INC. -A 0.8767 -10.63% -3.54% N.A. 5.32% PAMI EQUITY INDEX FUND, INC. -A 51.9805 -7.75% 4.56% N.A. 5.64% PHILAM STRATEGIC GROWTH FUND, INC. -A 542.68 -7.51% 3.39% 2.54% 5.43% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3107 -5.81% 4.78% 5.48% 4.52% PHILEQUITY FUND, INC. -A 38.6417 -5.98% 5.86% 5.07% 5.49% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.032 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2534 -7.66% 5.48% 5.06% 5.94% PHILIPPINE STOCK INDEX FUND CORP. -A 876.98 -7.52% 5.26% 5.07% 5.85% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9013 -6.52% 3.02% N.A. 4.66% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2761 -6.86% 5.14% 3.77% 5.35% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.009 -7.9% 5.18% N.A. 5.73% UNITED FUND, INC. -A 3.6808 -4.28% 6.73% 4.46% 5.14% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.1941 -7.28% 6.38% 6.15% 5.82% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.992 -9.84% 8.56% 1.26% 6.77% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2255 -3% N.A. N.A. 10.89% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7187 -6.6% 0.58% -0.37% 4.09% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2984 -6.07% 2.85% 1.58% 4.04% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6382 -4.88% 1.18% -0.58% 3.71% GREPALIFE BALANCED FUND CORPORATION -A 1.3529 -7.07% N.A. N.A. 3.73% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9061 -3.85% 2.56% 2.42% 3.42% PAMI HORIZON FUND, INC. -A 3.6219 -6.66% 0.97% 1.37% 2.62% PHILAM FUND, INC. -A 16.4006 -5.75% 1.33% 1.44% 3.1% SOLIDARITAS FUND, INC. -A 2.1403 -4.54% 2.72% 3.15% 3.28% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8046 -5.12% 2.49% 2.38% 4.2% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9893 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9843 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9836 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9613 -5.5% 1.99% N.A. 4.3% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03568 1.45% 0.27% 1.84% 1.22% PAMI ASIA BALANCED FUND, INC. -A $0.9767 -7.25% 5.16% -0.13% 4.33% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.5653 -2.15% 6.93% 2.05% 7.77% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0607 -4.27% N.A. N.A. 5.02% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 345.45 2.39% 2.08% 2.13% 0.6% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8609 -0.92% -0.35% -0.35% 0.09% COCOLIFE FIXED INCOME FUND, INC. -A 2.9892 5.44% 5.26% 5.27% 0.62% EKKLESIA MUTUAL FUND INC. -A 2.1464 1.74% 1.35% 1.87% 0.75% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2279 0.61% 0.31% 0.65% 0.84% GREPALIFE FIXED INCOME FUND CORP. -A P 1.5954 -1.16% -0.7% 0.27% 1.98% PHILAM BOND FUND, INC. -A 3.9161 -1.93% -0.98% 0.32% -0.09% PHILEQUITY PESO BOND FUND, INC. -A 3.5761 2.33% 0.8% 1.22% 1.68% SOLDIVO BOND FUND, INC. -A 0.91 0.05% -0.59% N.A. 1.95% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8303 1.48% 1.08% 1.51% 2.33% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5727 1.13% 0.63% 1.02% 2.13% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $450.92 1.94% 2.13% 3.01% 0.59% ALFM EURO BOND FUND, INC. -A Є214.39 0.79% 1.38% 1.57% 0.82% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.147 2.46% 1.35% 2.27% 1.88% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.025 1.21% 0.81% N.A. 0.81% GREPALIFE DOLLAR BOND FUND CORP. -A $1.6986 -1.83% -0.92% 1.02% 0.5% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0497 0.09% -1.08% -2.34% 1.17% PHILAM DOLLAR BOND FUND, INC. -A $2.22 1.99% 0.85% 2.92% 2.25% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0573908 1.12% 0.98% 1.82% 0.72% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9299 -0.58% 0.19% 2.04% 2.01% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 121.66 3.19% 2.08% 1.68% 0.68% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0018 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1858 2.17% 0.84% 0.59% 0.33% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.225 2.87% 2.36% 1.7% 0.49% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.019 1.94% N.A. N.A. 0.31%

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 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018.

3 - LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019.

Banking&Finance BusinessMirror

www.businessmirror.com.ph

BSP sees more OFWs saving via ‘PiTaKa’ program

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By Rea Cu

@ReaCuBM

HE government and the private sector have joined forces to encourage more overseas Filipino workers (OFWs) to save, as only 3 out of 10 workers and their families are able to allot a portion of their funds for savings.

On Monday, the Bangko Sentral ng Pilipinas (BSP) signed a memorandum of agreement (MOA) with the Overseas Workers Welfare Administration (OW WA) and the BDO Foundation, which aims to strengthening financial literacy efforts among OFWs and their families.

The MOA is in line with the launch of the BSP’s Pinansyal na Talino at Kaalaman, or “PiTaKa” program. It seeks to educate OFWs and their families on how to better manage their finances—handle remittances, get out of debt, set aside savings and make prudent investments.

BSP Deputy Governor Chuchi G. Fonacier, who read the speech of Central Bank Governor Nestor A. Espenilla Jr., said that around 35.5 percent of OFWs are saving a portion of their funds, while only 5.1 percent of them are able to invest their money.

Meanwhile, 98 percent of the expenses of the families of the OFWs spend their funds on food and personal consumption. Fonacier pointed out that around 10 million Filipinos are already working or living abroad.

“A lot of Filipinos really go abroad, so if you get the percentage of those saving, it still doesn’t breach 10 percent of the total ... When it comes to savings, it’s really low...,” Fonacier said.

Furthermore, the BSP reported that 2.3 million OFWs went abroad from the period of April to September 2017.

The OFWs’ earnings averaged around $26 billion, with remittances accounting

for 10 percent of the Philippines’s gross domestic product.

If the OFWs can save just 10 percent of their income on a regular basis, coming from the average earnings of $26 billion, around $2.6 billion is seen to be saved by OFWs. “So $2.6 billion, that’s the potential [savings]...so that’s how big it is really.

And it will help of course the economy.

But if they can save more, then there are other more uses for it, they can also contribute to funds that can in turn serve other purposes,” she added.

The launch of PiTaKa showcased three videos, which will be used as tools in the financial literacy sessions to be incorporated in Pre-Departure Orientation Seminars (PDOS) and Post-Arrival Orientation Seminars (PAOS) that all OFWs are required to attend. It will also be used during the General Orientation for OFW Families.

Session guides, as well as training kits, will be developed, and a Training of Trainers will be conducted for OWWA trainers and OWWA-accredited PDOS and PAOS providers, to ensure sustained and effective delivery of financial literacy lessons.

“This year, in collaboration with BSP and OW WA, we are expanding the scope of our advocacy through a corporate citizenship initiative that benefits millions of migrant workers and their families in the Philippines,” said BDO Foundation President Mario A. Deriquito.

As investors factor in RTB issuance, BTr gets mixed results in T-bills auction T HE auction of Treasury bills (Tbills) on Monday received mixed results as the Bureau of the Treasury (BTr) believed investors factored in a retail Treasury bond (RTB) issuance. The auction committee awarded only P15.59 billion from the P20 billion on offer.

Deputy Treasurer Erwin D. Sta. Ana said the majority of the tenders for the government security settled at the 182day bucket, as speculations pointed to the market having supply concerns in line with the prospective RTB issue.

“Overall, tenders is about one and a half times if you look at it on an aggregate basis; although [a] majority of the demand came in [for] the 182-day [paper]. [The] feedback [we got] from the reports [this is] basically a supply concern, with respect to a prospective RTB issue,” Sta. Ana said. “So [it] looks like the GSEDs [government securities eligible dealers] are factoring in that issuance. Basically, we don’t have any major market data points over the last week and so far, as of now, everyone is looking at the RTB issuance.”

The 91-day T-bill was partially awarded P4.39 billion from the P6 billion on offer, with bids amounting to P7.030 billion. Rates for the security increased by 18.3 basis points to 5.733 percent, from 5.550 percent in the previous auction.

Bids for the 182-day IOU amounted to P13.874 billion, which was awarded the full P6 billion, at an average annual rate of 5.978 percent. This showed a 4.5-basis-point increase from the 5.933 percent set in the previous auction.

The 364-day T-bill was also partially awarded P5.208 billion from the P8 billion on offer, with bids for the security being undersubscribed at P7.958 billion.

The average annual rate for the security settled at 6.052 percent, posting a 6.9-basis-point increase from the 5.983 percent set last auction.

Sta. Ana said that with the issuance of an RTB, the BTr will also launch its online platform to make it more convenient for investors to partake in the exercise.

“If ever we launch the RTBs, there will be a component of online, which means individual investors can access our web site and there will be an ordering form at the BTr web site,” he added. “[It would be] self-explanatory because all the steps will be communicated properly through our web site and through the marketing channels if ever we go ahead.”

The auction committee has also opened its over-the-counter facility so that tax-exempt government-owned and -control led cor porations were able to take part in the auctions on Monday. Rea Cu

Tuesday, February 19, 2019

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Gordon assures new SSS law good for members

By Butch Fernandez

@butchfBM

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HE recently enacted Social Security Act of 2019, to be known as Republic Act 11199, is billed by its proponents in the Senate as “[promoting] a culture of saving” and “investing for the future among Filipinos.”

“This landmark law will encourage SSS [Social Security System] members to save and invest more so they would reap higher and better benefits.

This will promote a culture change,” Sen. Richard Gordon said.

“Imbis na gagastos ng gagastos, mapipilitang mag-ipon ang mga miyembro, ilalagay ang pera nila sa retirement nila, [Instead of spending money, members will be forced to save money, put their money on their retirement],” added Gordon, chairman of the Senate Committee on Government Corporations and Public Enterprises.

“This is called forced savings.”

The senator issued the statement after President Duterte signed the bill into law, a remedial legislation that Gordon projects would result in better benefits for SSS members.

The new SSS law, Gordon added, aims to strengthen and rationalize the social security system, “and lengthen the life of the state pension fund, provides for a gradual increase of SSS contribution in 2019 from 11 percent to 12 percent.”

According to Gordon, the maximum salary cap was also increased from a maximum of P16,000 to a maximum of P20,000 for 2019.

“Hence, under the new law, a minimum-wage worker earning P537 a day for 22 days or P11,814 a month can be expected to have a P480 deduction for his SSS contribution,” the senator explained, adding: “This is P40 higher than his old contribution of P440 a month or an increase of a little more than one peso a day.”

A SOCIAL Security Service member uses a self-service machine in Pasay City. Sen. Richard Gordon believes a new law would benefit members more. NONIE REYES

According to Gordon, “the purpose of this law is to uplift the dignity of our people.”

SSS members would sacrifice part of their earnings today “by contributing more, but they will enjoy a dignified retirement later on.”

B4 Tuesday, February 19, 2019

PRESTONE’S SCHOLARSHIP PROGRAM BAGS SILVER AT ANVIL AWARD GLOBE MYBUSINESS PREPARES SMEs FOR DIGITALIZATION

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RESTONE Philippines, a leading innovator of cutting-edge coolants, brake fluids and motor oils, bagged Silver for its Anak ng Mekaniko scholarship program at the 54th Anvil Awards.

Presented annually by the Public Relations Society of the Philippines (PRSP), the Anvil Awards is recognized as the premier award-giving body in the communications industry that symbolizes excellence in public relations.

Prestone’s Anak ng Mekaniko scholarship program emerged as one of the recipients of the coveted award under the PR Programs Targeted at Specific Stakeholders category.

In line with its 90th anniversary, Prestone initiated the nationwide search aimed at choosing nine students who deserve a chance at receiving a tertiary education through the Anak ng Mekaniko scholarship program.

“Prestone designed this program to help local auto mechanics not just by providing them with top-of-the-line

products to use for their livelihood but, more important, could ease the financial burden of sending their children to school,” said Paolo Lao, sales and marketing director of Clorox Southeast Asia.

The program also shines a light on the fundamental human right to a good education regardless of one’s age, gender or status. It puts into focus the lengths to which parents would go to give their children a better life.

The scholarship program did not require the nine selected scholars to enroll in automotive technology or a similar vocational course. Instead, it was set up to provide a free college education for any degree that they want to have.

Receiving the award were Prestone executives, together with Kieth Bryan Perez, one of the recipients of the scholarship grant, and his parents, as well as representatives from Prestone’s communication and activation partners Themeactive Inc. and PRC Inc.

SECURITY BANK EMPLOYEES PAINT SCHOOL BUILDING IN DAVAO DEL NORTE

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EVENTY-FIVE employees from 10 different branches of Security Bank in Davao volunteered to paint the two-story, sixclassroom school building funded by Security Bank Foundation for Panabo National High School in Panabo City, Davao del Norte.

The activity was one of the annual employee volunteerism programs conducted by the bank to provide an opportunity for Security Bank employees to give back and be personally involved in Security Bank Foundation’s “Build a School, Build a Nation: The Classrooms Project”, which aims to construct classrooms for public schools in need of new learning facilities.

Security Bank volunteers painted the classroom walls and grills, corridors and stairways. Employees also helped repaint the existing armchairs of the school that will be used in the school building donated by Security Bank Foundation.

The activity was graced by the presence of Rafael Simpao Jr., chairman of Security Bank Foundation, who highlighted that the school painting activity was a means for Security Bankers to bring to life the bank’s tagline. “What we are doing here today is our way of giving back to the communities we serve. This is our

way of telling them from our heart, ‘You Deserve Better,’” he said. The activity’s purpose was echoed by Jason Ang, Security Bank region head for Visayas and Mindanao. “It is our pleasure to help and give back. It is the social responsibility of the Bank,”he said.

The fun in helping was apparent in the volunteers’ smiles. “We enjoyed. We felt a sense of fulfilment in helping our own community even through a simple painting activity. It is heartwarming that a lot of Security Bank employees have the passion to help,” said Feve Marey Jison, Security Bank Davao area office employee.

The beneficiaries also expressed their gratitude. “Napakaswerte po ng school namin.

Salamat sa mga employees ng Security Bank at nabisita kami rito at natulungan pa. Excited na po kaming matapos ang building at magamit ng aming mga estudyante,” said Darna Tan, head teacher of Panabo National High School. As a neighbor of the school, Security Bank Panabo Branch also took pride in the project. “It is a great project for us. We are very happy for the school,” expressed Domie Casiño, Security Bank Panabo branch business manager.

WORLD CAT FEDERATION TAKES GREATEST CAT SHOW TO PHILIPPINES

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HE city of Pasay hosted the firstever international cat show in the country organized by the World Cat Federation, in cooperation with the World Felinological Center “Astra”.

The event was held on February 16 and 17 at the GSIS gymnasium in Pasay City.

“We look forward to this exciting event.

The staff who are mostly volunteers are working hard to create the most magical cat show,” Nina Akimova, show manager and organizer said.

The two-day event saw exhibitors and

breeders compete for numerous prizes and awards culminating with the Best in Show.

In addition to the judging rings, the exhibition was themed “The Greatest Cat Show on Earth” and featured acrobats, jugglers, stilt walkers and various production numbers.

The show gathered expert judges from all over the world, including World Cat Federation President Anneliese Hackmann, Cornelia Hungerecker and Natal’ya Lebedeva of Russia.

The two-day show was open to the public from 9 a.m. to 6 p.m.

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LOBE myBusiness, the micro, small, and medium enterprise arm of Globe Telecom, brings industry experts to Bacolod City to help local businesses, particularly those in the supply chain, face the challenges of today’s digital world.

“As a trusted business partner of SMEs in the Philippines, we want to be able to guide them on how to advance in this dynamic world. The best way to do this is to educate them on the relevant technologies that they can use to grow and succeed,” said Anne David, Globe myBusiness supply chain marketing head.

The one-day event, with the theme “Create. The Future of Local Businesses”, was presented by Globe myBusiness Academy, which provides existing and aspiring entrepreneurs access to learning sessions, experiential demos, free business consultations and exclusive offers to help them stay on top of their game. This was in partnership with the Bacolod City local government unit, Department of Trade and Industry Negosyo Center, Philippine Retailers’ Association and Metro Bacolod Chamber of Commerce, as well as DHL, Lazada, Manila Workshops and Taxumo.

Globe myBusiness Academy also invited local merchants in Bacolod City to highlight their products via demo and selling in support of the DTI’s Go

Lokal campaign.

“We’ve got to create something different, something challenging, another level of entrepreneurship,” said Bacolod City administrator lawyer John Orola in his opening remarks, as he noted that the ever-growing digital world demands that business owners become more open to technology in their respective fields.

Leading the panel of experts was inspirational speaker Francis Kong who pointed out that, “In business, you cannot fake your way to being successful”; and that “When it comes to business and profession, you cannot gamble on ignorance.”

Kong said true success must be sustainable and replicable, thus, ent re preneu rs mu st not w a ste opportunities to learn more about things they need to know such as digital technology which is instrumental in spurring the growth of enterprises.

Kong was joined by Taxumo Chief Executive Officer and cofounder and Manila Workshops subject matter expert Eugene Arboleda, who discussed one of the most fundamental starting points to advertising, branding and being online, that is, having a web site—a digital tool similar to all other business solutions that, when used properly, can bring success. “Your web site is not a silver bullet—if your business has

an issue that you’re trying to address, just building a web site won’t fix it...

Done well, your web site can boost your business results,” he said.

AdSpark Associate Director Joey Flores also talked about another digital tool and that is online advertising, which can help businesses reach their market effectively with much lower cost than traditional media.

Meanwhile, Lazada Vice President and head of seller engagement Alvin Ching and Carmen’s Best owner Paco Magsaysay shared their end-to-end e-commerce experience and success story, respectively.

Globe myBusiness provides leadingedge business solutions and services to assist SMEs every step of the way. For more tips on how to future-proof your business, visit https://mybusiness.globe. com.ph/mybusiness-academy/.

In photo are (from left) Kate Nicasio, Globe Stores retail area head for Negros 1; Patrick Gloria, Globe external affairs manager; Anne Sison, Globe regional sales head for Western Visayas; Anne David, Globe myBusiness segment marketing head; Celeste Porto, Globe myBusiness team marketing head; lawyer John Orola, Bacolod City administrator; Rachel Nufable, trade development chief; Kong; and Jojit Lanas, Globe sales cluster head for Visayas and Mindanao.

INTO A WORLD OF THRILLS WITH RESORTS WORLD MANILA, CEBU PACIFIC

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AYOVERS and wait times of airline passengers can be more convenient and enjoyable with the opening of the Resorts World Manila (RWM) travelers’ lounge.

First to enjoy the benefits of the lounge will be Cebu Pacific (CEB) with its satellite checkin services for f l i g ht s d e p a r t i n g f rom t he Ninoy Aquino International Airport Terminal 3 (Naia T3).

On t he g round-f loor level of t he RW M ’s Ne w por t M a l l , C EB passengers have the option to check in for t heir f l ights dur ing ma l l hours or up to eight hours before their scheduled f lights. Those with checkin bags, however, will still have to proceed to the Bag Drop counters at the airport.

“Now, guests have more reason to make use of checkin options, such as the web site, mobile app and, now, RWM’s travelers’ lounge, to get their boarding passes even before arriving at the airport. CEB passengers have the opportunity to enjoy the amenities and attractions at Resorts World Manila—which is directly connected to Naia T3, while waiting for their f lights,” said Javier Massot, vice president for airport services at CEB. To ensure that nobody misses their f lights while enjoying RWM’s attract ions and amenit ies, rea ltime f light status digital boards are located at the lounge. Getting to Naia T3 is easy and cool with Runway Manila, an air-conditioned, e le v ate d w a l k w ay t h at d i re c t ly connects New port Cit y w ith the airport. Free shuttle vans regularly

make the rounds from Newport Mall and RW M hotels to the Runway Ma n i l a ent ra nce, f rom where passengers can walk to the air port within five minutes.

“We’re very pleased to have this partnership with the Philippines’s biggest budget airline,” says Stephen R e i l l y, c h ie f o p e r at i n g of f i c e r, Resorts World Manila, “ They f ly hu nd red s of t housa nd s of loc a l a nd i nter n at ion a l tou r ists on t he i r pl a ne s d a i l y, a nd w e a re g l ad to prov ide t hese t rave lers with the option of spending their preboa rd ing hou rs enjoy ing t he many thrills RWM has to offer.”

As an added treat for those who check-in at the satel lite lounge, RWM is giving away P300 worth of nonnegotiable slots credits, and

P150 discount vouchers for every m i n i mu m P50 0 s p e nd at RW M s i g n at u re re s t au r a nt s , s u c h a s Impressions, Passion, Ginzadon, Café Maxims, and gaming area restaurants Silk Road, Silogue, Victoria Harbour Café and Franks.

Guests must be at least 21 years old to av a i l t he m s e lve s of t he slot credits and to dine in gaming area restaurants. Travelers w ith f lights are responsible for reaching their boarding gates on time and encou r a ged to c hec k t he f l ig ht status boards around the property and to allow enough time to reach the airport.

Download the RWM Mobile App or visit www.rwmanila.com for updates on new events, offers and promotions at RWM and Newport Mall.

Sports TOUGH WIN FOR HOLMES BusinessMirror

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| Tuesday, February 19, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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By Doug Ferguson The Associated Press

OS ANGELES—A marathon finish was only part of the challenge facing JB Holmes. He also had to contend with a four-shot deficit against Justin Thomas on greens that were increasingly bumpy with so many footprints over nine hours, and wind that made Riviera tougher than ever.

With one good break, two big putts and plenty of help from Thomas on the back nine, Holmes won the Genesis Open on Sunday for his first Professional Golfers’ Association (PGA) Tour title in nearly three years that earned him a trip back to the Masters.

So difficult was the final round of a 34-hole day that Holmes didn’t make a birdie over the last eight holes and

Team LeBron rallies to nip Team Giannis C

HARLOTTE, North Carolina—LeBron James was trading lob passes with Dwyane Wade again, one last time. Catching lobs from former teammate Kyrie Irving once again, too. And after making a stepback three-pointer late, he stared down Joel Embiid to send a message without saying a word.

Oh, this mattered to James—and Team LeBron as well.

Team LeBron, down by 20 in the second half, finally got firing and went on to beat Team Giannis, 178-164, in the All-Star Game on Sunday night. Most Valuable Player Kevin Durant scored 31 points for Team LeBron, the one that James drafted and led to victory in the captain’schoice format for a second consecutive season.

“You put me on the floor, I love to compete,” James said in the postgame interview room. “I’m a competitor, no matter what it is. I was competing to see if I could get to this table first.”

He wasn’t kidding. He then turned to National Basketball Association (NBA) Spokesman Mark Broussard, asked if he was the first player to get into the room and grinned when told he was.

“See what I’m talking about?” James said.

Klay Thompson scored 20 points, and James and Kawhi Leonard each had 19 for the winners.

“It’s all sweet to me,” Durant said after getting his second All-Star MVP award, to go with the one he claimed in 2012. “It’s hard to rank because everything’s special. But it’s cool to be out there with some of the best players to ever play the game. And to win MVP in front of my family and friends is pretty sweet.”

Giannis Antetokounmpo—the first-time captain— led everybody with 38 points on 17 for 23 shooting for the club he drafted. Paul George and Khris Middleton

TEAM Giannis’s Giannis Antetokounmpo dunks the ball as Stephen Curry celebrates his three-point shot. AP

each scored 20 points for Team Giannis, which got 17 apiece from Stephen Curry and Russell Westbrook.

“Just being the leader of a team, it wasn’t as tough as I thought,” Antetokounmpo said. “My teammates, the guys in the locker room, encouraged me to step up and take it serious and play hard.”

The highlights, as would be expected, were absurdly good, time and again.

Curry slammed the ball off the floor on a first-half fast break and watched it ricochet toward the rim with an apex that flirted with the top of the backboard. Too high for most humans—but Antetokounmpo isn’t most humans. The freakishly long Greek star slammed Curry’s unconventional alley-oop pass home, with both benches reacting in disbelief.

Curry then slammed an alley-oop on the last play of the game, to himself, for a dunk that closed the scoring in his hometown.

“I thought we put on a great show tonight,” said Kemba Walker, Charlotte’s lone player in the game.

It was not a defensive showcase, as always.

Team Giannis set an All-Star record with 23 field goals in the first quarter, topping the mark of 22 set on four other occasions—by both the West and the East in the first quarter of the 2017 game, and by the West in both the second and third quarters of the 2016 game.

The 53 points tied a one-quarter All-Star record as well, matching the total by the West in the third quarter of the 2016 games and by the East in the first quarter of the 2017 game. But when it was time to get competitive, things tightened up considerably, at least by All-Star standards.

But when Team LeBron used a flurry of threes to get back into it in the third quarter, everyone on the bench

was standing—sometimes running from the bench and onto the court during play, the celebrations a bit more exuberant than what’s usually allowed.

“We got the win,” said Houston’s James Harden, who scored 12 points for Team LeBron. “That’s all that matters.”

And the All-Star farewells for Miami’s Wade and Dallas’ Dirk Nowitzki—the adds to the game by NBA Commissioner Adam Silver, in honor of their career bodies of work—were festive, as everyone wanted.

Nowitzki entered the game late in the first quarter and made his first three shots—all of them threepointers—before heading back to the bench. Wade checked in not long after Nowitzki took the floor, then started the second half and achieved his primary missions for his last All-Star Game as a player.

He got an alley-oop lob from James.

And he threw an alley-oop lob to James.

Wade dunked, James dunked, and the close friends who entered the NBA together in 2003 and won championships with Miami in 2012 and 2013 got a couple more moments to savor in their final night as oncourt teammates.

Wade finished with seven points in 10 minutes, and Nowitzki never returned after his nine-point, four-minute opening stint. When the third quarter ended, every player gathered behind them as Wade and Nowitzki were honored with commemorative jerseys at midcourt.

“Thank you to the commissioner and the NBA for allowing us to both be on this stage again,” Nowitzki said.

“Exactly what Dirk said,” Wade said as he took the microphone. “We’re very thankful for this opportunity.... The game is in great hands. It’s easy to walk away right now.” AP

closed with a one-under 70.

“I knew it was going to be very difficult to shoot a low score,” Holmes said. “I needed some help from Justin.”

Thomas shot a 65 in the morning to complete the third round with a four-shot lead. Holmes says his caddie, Brandon Parsons, asked him at one point if he thought Thomas would get to 20-under par, a score only two other players have reached at Riviera.

“I was like, ‘You mean this round?’ He was playing unbelievable there that third round,” Holmes said.

Thomas played a big part in Holmes’s victory, however.

He took 19 putts in a wild back nine that featured three two-shot swings because of putting.

Thomas, who closed with a 75, three-putted from long range on the 10th as Holmes made birdie for his first lead of the week. Holmes returned the favor on the next hole when he turned birdie into a shocker of a bogey, three-putting from 3 feet.

And then it was back to Thomas, and what turned out to be the decisive moment.

Holmes missed the 13th green to the right and chipped to 12 feet. Thomas was some 65 feet away and lagged his putt to 8 feet. Holmes made the par putt, and not only did Thomas miss his putt for par, he lipped out the next one for a double bogey.

That took Thomas from one ahead to one behind, and he never caught up.

Holmes delivered another dagger with a 12-foot par save on the 16th right before Thomas made birdie to avoid another two-shot swing, and Thomas couldn’t convert birdie chances from 6 feet and 20 feet on the last two holes.

“To take two steps back with a double is huge because it was so hard to make birdies, especially with 14, 15, 16 coming up, three holes dead into the teeth,” Thomas said, alluding to the wind. “I’m sure he would say that was

probably the biggest turning point of the round for him, and that putt on 16.”

Thomas said he struggled putting in the wind and it “showed a flaw in my game.”

“JB won. He played great,” Thomas said of his fellow Kentuckian, whom he has known since he was a kid. “It’s always a bummer to hand a tournament. I feel like I should have won that thing.”

Holmes, who finished at 14-under 270, moved up from No. 100 to No. 42 in the world, making him eligible for the World Golf Championships in Mexico City next week. But it’s been a long stretch, and he decided not to play. As for that invitation to the Masters?

“Let me think about it,” he said with a grin. “No, it’s always good to go back.”

Tiger Woods shot 65 to finish his morning third round, though he was never in range of winning. Woods closed with a 72 in the afternoon, and tied for 15th.

“I got tired,” Woods said. “I don’t know if I’m the only one, but I definitely felt it today. Wind, cold. I was at 10 [under] and I slipped four shots coming in. That’s the way it goes.”

He said he wouldn’t touch his clubs on Monday as he goes from cold air at sea level to Mexico City next week.

Maybe the biggest break for Holmes was at the par-4 seventh, when his wedge from a bunker didn’t clear the lip and buried into the grass framing the sand. He at first feared he couldn’t find it. Once he did, he was given relief from an embedded ball and escaped with a bogey.

Holmes and Thomas weren’t the only ones who struggled on greens. Adam Scott was right in the hunt until he missed six consecutive putts from under 10 feet that dropped him out of contention quickly.

Scott closed with a 76 and tied for seventh.

“You’re going to miss a few out there,” Scott said. “We saw some four-putts and three-putts, but you can’t miss every one for six straight holes.... If you look at JB, why he won, he holed unbelievable putts and I didn’t today.”

Si Woo Kim had a 66, the low score of the final round, and finished third. Rory McIlroy almost got back in the game when he holed a bunker shot on the 16th to get within two shots, but he failed to birdie the par-5 17th and was fooled by the wind in making bogey on the final hole for a 69. He tied for fourth with Marc Leishman (68).

No one had a tougher time than Jordan Spieth, whose final round included a birdie, par, bogey, double bogey, triple bogey and quadruple bogey, the latter on the 10th hole when he hit four shots out of bunkers. He shot 81, his second-highest score as a pro.

JB HOLMES celebrates his victory with his son Tucker Bradley. AP

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PREMIUM ON YOUTH U PCOMING trackster Jessel Lumapas leads a short but compact list of Tony Siddayao awardees in next Tuesday’s San Miguel Corp.-Philippine Sportswriters Association (PSA) Annual Awards Night.

Lumapas, a standout of Nazareth School of National University, will be joined by swimmers Micaela Jasmine Mojdeh and Marc Bryan Dula, along with figure skater Czerrine Ramos, in receiving the awards handed out by the sportswriting community to promising athletes aged 17 and below.

Presented by Milo, Cignal TV and the Philippine Sports Commission, the special event will be held on February 26 at the Centennial Hall—instead of the Maynila Ballroom as earlier announced—of the historic Manila Hotel.

Named after the late veteran sports editor of the Manila Standard, Tony Siddayao, considered as the dean of Philippine sportswriting, prominent figures of the Siddayao awards in the past who went to carve out names in their

respective fields include Wesley So (chess), Kiefer Ravena and Jeron Teng (basketball), Dottie Ardina (golf ), Eumir Marcial (boxing), Rustom Lim (cycling), and Malvinne and Markie Alcala (badminton), among others.

On top of the 2018 list is the 17-year-old Lumapas, who was adjudged the most outstanding athlete in last year’s Palarong Pambansa after winning four gold medals in track and field.

A native of Damariñas, Cavite, she later anchored the country’s campaign in the Asean School Games in Kuala Lumpur by winning two of the Philippines’s six gold-medal haul.

The four recipients of the Siddayao awards are among 75 honorees to be recognized during the affair also backed by Chooks To Go, NorthPort, Rain or Shine, Tapa King, SM Prime Holdings, ICTSI, Mighty Sports and the Philippine Basketball Association.

Leading the honor roll are Hidilyn Diaz, golfers Yuka Saso, Bianca Pagdanganan and Lois Kaye Go, and skateboarder Margielyn Didal, who are all named cowinners of the coveted Athlete of the Year award.

Yap flashes vintage form

JAMES YAP is named the Player of the Week.

the 6-foot-2 Yap went on to average 13 points, four rebounds and 1.6 assists to help the Elasto Painters stretch their winning streak to five heading to the two-week break.

The break is part of PBA’s commitment to support Team Pilipinas’s campaign in the sixth and final window of the 2019 Fiba World Cup Asian qualifiers.

Yap, who turned 37 a day after Valentine’s Day, scattered 18 points behind his 6-of-9 clip from three-point zone, leading Rain or Shine’s fightback from a double-digit deficit to turn back NorthPort, 107-100, on February 8.

The two-time PBA Most Valuable Player’s stepback three over Paolo Taha with less than three minutes left put Rain or Shine ahead for good, at 102-100.

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AMES YAP continues to defy Father Time by dishing out spectacular plays leading to his first Cignal-Philippine Basketball Association (PBA) Press Corps Player of the Week award for the 2019 Philippine Cup. Despite a tight schedule that saw Rain or Shine playing three games in five days,

P.S.A. GOES TO CLARK

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T’S going to be a special session of the Philippine Sportswriters Association (PSA) Forum on Tuesday as the weekly program goes to Clark Mimosa in Pampanga to discuss preparations for the country’s hosting of the 30th Southeast Asian Games.

Appearing in the forum presented by San Miguel Corp., Tapa King and the Philippine Amusement and Gaming Corp. are Bases Conversion

Yap had a quiet two-point output two days later, but contributed four boards in 18 minutes off the bench as Rain or Shine squeaked past Phoenix, 98-94. ROS’s victory handed Phoenix its first loss following a 5-0 start for the season.

Big Games James’s shooting struggle didn’t last long, rediscovering his touch on February 13 in a key matchup against his former team Magnolia at the Mall of Asia Arena.

Yap fired 18 points, including the game-winning three-point play off a foul by Rome de la Rosa to lift Rain or Shine to a 75-74 triumph against Magnolia.

Rain or Shine currently leads the tournament with a 7-1 record, inching closer to one of the two twice-to-beat incentives up for grabs in the AllFilipino conference. and Development Authority (BCDA) President and Chief Executive Officer Vivencio Dizon, Vice President for Business Development Arrey Perez and Alloy MTD Philippines Inc. President Patrick Nicolas David.

The BCDA is the lead body in the construction of the 50-hectare New Clark City Sports Complex, which will serve as one of the major venues when the SEA Games return to the country from November 30 to December 11.

The special Forum comes a week before the San Miguel Corp.-PSA Annual Awards Night at the Centennial Hall of the Manila Hotel.

Manila, San Juan take MPBL floor

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OWERHOUSE teams Manila and San Juan take on separate foes hoping to make good impression ahead of the playoff round of the Maharlika Pilipinas Basketball League (MPBL) Datu Cup. The Manila Stars host the Navotas Clutch at the San Andres Gym in Malate in the main game at 9 p.m. right after the San Juan Knights-Mandaluyong El Tigre duel at 7 p.m.

For Manila, it’s an opportunity to move up to second spot anew. The Robust Energy Capsule-backed Stars

carry the same 19-4 win-loss record as the Makati Super Crunch, but the Stars hold second spot of the northern division by virtue of the win over the other rule in this tournament put up by Sen. Manny Pacquiao with former Philippine Basketball Association Most Valuable Player Kenneth Duremdes serving as commissioner.

But Navotas is hoping to win its remaining three games to avoid complications in its bid for a playoff berth.

San Juan takes on a Mandaluyong side that is virtually out of the playoff race.

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Tuesday, February 19, 2019

Scribes recognize UP ace Molde

HERE was no better scorer in the University Athletic Association of the Philippines (UAAP) Season 81 Women’s volleyball tournament opening weekend than University of the Philippines’s (UP) Isa Molde.

The fourth year open hitter powered in 23 points to lead the Lady Maroons past the gritty University of the East (UE) Lady Warriors to earn her the UAAP Press Corps Player of the Week honors.

UP needed every bit of Molde’s 23-point outing to survive the grueling five-setter against one of the league’s best defensive teams. The Season 78 Rookie of the Year was also a presence in the back row, providing 10 excellent receptions from 22 attempts.

Billed as contenders after winning the Philippine Superliga Collegiate Grand Slam and Philippine Volleyball League (PVL) Collegiate Conference, the Lady Maroons entered opening

day with a lot of pressure. Molde insists that the pressure is helping her and UP focus on their goals.

“Of course there’s pressure. But with the support of the UP community, our confidence is up there,” the Cebuana said.

UP Head Coach Godfrey Okumu stressed the need for a balanced performance from his girls to succeed in the UAAP. But having players like Molde to rely on in clutch situations is a luxury he enjoys.

“We have a lot of great players, but someone like Isa helps us get out of tough spots,” said the Kenyan coach. “When we have to go out-of-system, Isa can be relied on to get us points.

We’ll definitely need more of that type of play to get good results moving forward.”

UP will face Far Eastern University on Wednesday in a rematch of the PVL Collegiate Conference Finals.

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Cervantes triumphs in Kabacan

NRANKED Zkyla Cervantes pulled off a pair of tough wins over fancied rivals to grab the spotlight with Reyman Saldivar Jr. in the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) Kabacan National age-group tournament at the Kabacan Tennis Club in North Cotabato on Monday.

While local bet Saldivar lived up to his top billing to dominate the boys’ 14- and 16-under singles play, Cervantes stunned top seed Ysay Ysulat of Kabacan in the semis, 6-3, 6-1, then blasted No. 2 Joyce Saldivar, 6-1, 6-0, to capture the girls’ 16-under diadem.

The Alamada, North Cotabato find later held off top seed Jonn Nadela, 6-1, 6-4, for the 18-under crown in the Group 2 tournament hosted by Mayor Herlo Guzman Jr. and sponsored by PPS-PEPP. Reyman Saldivar earlier toppled Malaybalay’s Al Rasheed Lucman, 6-3, 6-3, in the 14-under final then whipped Joross Manangking, 6-2, 6-0, to nail the 16-under plum and share the Most Valuable Player honors with

SPOTLIGHT ON SASO Y

UKA SASO hopes to cash in on good form and an early start as she kicks off her drive for a second straight championship in the Champion Philippine Ladies Amateur Open.

But although booming with confidence, Saso has to contend against a field teeming with talent at the Manila Golf and Country Club inside Forbes Park.

The Asian Games gold medalist shot a two-under card in Monday’s practice round which she expects to better after drawing an early start at 7:30 a.m. on No. 1 with Nanako Inagaki of Japan, Gia Feliciano of the United States and Thai

Yosita Khawnuna.

Emphasis will be on shotmaking and putting with Saso tipped to lead the assault on the well-kept layout making its return as host of the country’s premier championship which drew a cast of 94 players, including 31 from Taiwan, six each from Singapore and the US, four from Korea, three each from Australia and Thailand and two from Japan.

“The greens are tough and I think it will all boil down to putting,” said Saso, who spent the rest of yesterday’s practice day polishing her stroke in a bid to contend again.

The 17-year-old Saso spearheads

the bid of the big 39-player local side out to extend its win run to four after Princess Superal broke Thailand’s three-year reign with a victory at Tagaytay Midlands in 2016.

Bianca Pagdanganan topped the 2017 edition at Wack Wack before Saso rallied to beat Mikha Fortuna by two at the Orchard last year.

That victory somehow portended the coming of a big year for Saso, who went on to snare the gold medal while powering the Philippines to the team championship in the Asian Games in Jakarta.

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That makes her the player to beat in the 54-hole championship presented

by Champion and sponsored by Hana Shampoo, EVA Air, San Miguel Corp. and Diamond Motor Corp. although the Fil-Japanese remains wary of the field, which teems with enormous talents, including the troika of young Thais in Yosita Khawnuna and Natthakritta Vongtaveelap and Chanettee Wannasaen, The Taiwanese are also all geared up for a crack at the crown with Sung You-Chuan, Chiang Su-Er and Lee Shu

Cervantes in the third of the six-leg Mindanao swing of the circuit presented by Dunlop.

“Cervantes’s victories further underscored the PPS-PEPP’s circuit’s thrust of producing fresh talents, especially in the countryside which we believe has so many promising players waiting to be tapped and developed,” Palawan Pawnshop President and CEO Bobby Castro said.

Other winners were Kabacan’s Yusuf Maldo (10-under unisex), Lucman (boys’ 12-under), Koronadal’s Bruce Hurtado (boys’ 18-under), Jeanne Rayray (girls’ 12-under) and Ysulat (14-U). Maldo survived Cian Ramirez, 5-4(5), 2-4, 5-4(5); Lucman upset No. 2 Jason Flores, 7-5, 6-1; Hurtado crushed Steve Aton, 6-0, 6-2; Rayray stopped Marial Betita, 6-2, 6-0; and Ysulat subdued Joyce Saldivar, 6-3, 6-1.

Reyman Saldivar and Cervantes actually finished with three titles each with the former also ruling the 14-under doubles and the latter topping the 18-under side.

YUKA SASO eyes a second straight championship in the Champion Philippine Ladies Amateur Open.

Fen hoping for a strong start and a stronger finish.

Koreans Park Eun Suk and Lim Mi Jin also seek to crowd the favorites and duplicate compatriot Lee Jeong Hwa’s title feat in 2012, while Japanese Airi Mitsuhashi and Ikuko Kito also expect to figure in the title chase along with locals Nicole Abelar, Sunshine Baraquiel, Laia Barro, Sophia Blanco, Annyka Cayabyab, Laurea Duque, Sophia Legaspi, Pamela Mariano, Kayla Nocum, Rafaela Singson, Eagle Ace Superal and Rianne Malixi.

SPORTS WITHOUT BORDERS VINCENT JUICO

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

‘Help me help you’ FOR the second time we’re using another line from the movie Jerry Maguire, it’s the scene where Jerry Maguire played by Tom Cruise tries to convince and persuade his lone remaining client Rod Tidwell played by Cuba Gooding, to stay with him despite the mass defection of all his clients to his former employer, SMI (Sports Management Inc.).

Last week, we took a look at student athletes having sports agents. Today, we shall discuss what are the advantages and disadvantages of student athletes having a sports agent.

Over the weekend, I spoke with three people who’ve had extensive experience being a student athlete, dealing with student athletes and dealing with sports agents.

I’ve known Vic Hapin since my days as a graduate-school student and graduate-school basketball team manager at the De La Salle University-Graduate School of Business. Vic was an assistant coach on those teams and now he assists Coach Cholo Villanueva on the De La Salle women’s basketball team.

Vic has been around La Sallian student athletes since 2008, sometimes dealing with handlers of elite La Sallian student athletes.

According to Coach Hapin, “Elite student athletes hiring an agent is already a common practice. When the elite student athlete comes from a poor family, there’ve been times where the priority of the student becomes making a living rather than trying to earn a degree.”

One advantage of having an agent, especially if you’re an elite student athlete, is you get to focus more on studying, practising, training and working out to prepare for the season, while your agent takes care of guest appearances on radio, TV, print and official social-media accounts.

Hapin says, “presently, there’s no regulation on the amount of allowance a student athlete receives. Allowance bidding wars ensue among schools, colleges and universities on trying to recruit the best possible talent for their programs.”

In my humble opinion, agents should be confined to negotiating product endorsements, appearances on trimedia, obligations and contracts. The rest should be between the young adult and his or her parents.

Tony Atayde, category marketing manager for a sports beverage company, has been around sports working with student and professional athletes since 2003.

According to Atayde, “I think it’s a double-edged sword, to be honest. Players have become so much more marketable nowadays, and advertisers see that. They all have their own ‘brands’ as players now, which never existed in the past. Parents see that and, most of all, so do agents. These agents [through their networks from working with athletes since time immemorial] are able to connect talented players to sponsors that can change economic status of their families.”

Social media has given these players so much exposure that, even in high school, they start to become household names, which makes recruitment harder for schools as well because they can’t ‘hide’ blue-chip recruits anymore.

Agents create avenues for these players, both from a recruitment standpoint and a revenue stream through sponsors. So, in that right, I think they have helped a lot of families/players improve their lives. The flip side of that is, as they aren’t professionals yet, it’s a lot for a high-school player to deal with.

It really just depends on how these players mature from blue-chip HS players to turning pro. It’s really a five to seven year window.

“I don’t think it’s as cut and dry as whether it’s ok or not ok. In the US, agents aren’t allowed for any amateur athlete. It’s really more a matter of perspective. Economically, agents are a big help in connecting exceptional talent to the right schools/sponsors.

“But old-school amateur sports fans may tend to see it as ruining the amateurism of it. Personally, I think it’s something we have to accept. Agents are more versed in these negotiations that parents or the young player are.”

John Doe (not his real name since, according to him, he has friends in the sports management industry who are sports agents) has been in and around sports for the last 30 years starting out as a student athlete, many-time member of his country’s national team and now a business owner.

According to Doe, “Agents serve as a good support system to the needs of a student athlete, such as taking care of their basketball needs [footwear, apparel, etc.] and dealings with coaches and school officials when it comes to other basketball matters. An athlete can remain focused on playing and studying, which is very important while in school.

“Student athletes, as early as now, become hot commodities, which is a sign of the times.

Agents see this is a huge benefit to their business and have influenced these athletes to think the same. Student athletes are now exposed to other endorements besides just receiving free products. Student-athletes earn as much now as any professional athlete, and even their socialmedia handles are monetized. This becomes a big distraction and can affect performance, both athletically and academically.”

TOKYO 2020 TOPS IN ‘GOLD’ AGENDA Sports BusinessMirror

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| Tuesday, February 19, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

GO For Gold riders—with godfather Jeremy Go and project director Ednalyn Huald—brace for more Union Cycliste Internationale races ahead.

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FTER an encouraging campaign in the Ronda Pilipinas, the Go For Gold Philippines Continental Team will encounter more punishing roads ahead this year in its bid to send a Filipino rider to the 2020 Olympics in Tokyo.

Up next for Team Go For Gold is the fivestage Tour de Iskandar in Johor (Malaysia) in April, another Union Cycliste Internationale (UCI) race that offers points for Filipino cyclists raring to don the national colors in the Summer Games.

“We have to race in as many UCI races as

we can to realize our dream of seeing a Filipino participate in the cycling competitions of the Olympics,’’ Go For Gold godfather Jeremy Go said.

They will vie in a series of multistage races for the rest of the year in Singapore, Indonesia, Thailand and Sri Lanka, among others, plus the Le Tour de Filipinas and national championships in June where an abundance of UCI points are at stake.

“We have a full exposure this year with 12 international races on schedule, including the Asian Cycling Championships late April,’’ Go For

Gold project director Ednalyn Huald said.

Ismael Grospe secured the best young rider award after topping the under-23 category of the Ronda featuring 15 teams, eight of them foreign squads.

Grospe’s efforts together with Jonel Carcueva, Elmer Navarro, Boots Ryan Cayubit and Daniel Ven Carino installed Go For Gold at fourth overall in the team classification of the five-day Ronda that ended last week in Pandan, Antique.

They could have done better if not for the absence of team captain Ronnel Hualda after

the opening stage in Iloilo City and the series of crashes and flat tires that the rest of the squad suffered throughout the race.

Hualda had a bum stomach that affected his performance on the first stage, forcing the seasoned rider to miss the remaining stages.

“These things really happen in a race. The team might have lost its leader, but we still managed to finish fourth overall,’’ said Hualda.

Go For Gold also placed third overall among Filipino teams behind 7-Eleven Road Bike Philippines and Navy Standard Insurance.

Olympic hosts hike budget for opening, closing rites

O Cargo Movers kick off title hunt against HD Spikers in Superliga F 2 Logistics kicks off its title hunt when it collides with Cignal in the Philippine Superliga Grand Prix on Tuesday at the Filoil Flying V Centre in San Juan.

Reigning champion Petron tips things off when it clashes with PLDT at 2 p.m., while United Volleyball Club tackles Sta. Lucia in the 4:15 p.m. battle of the women’s volleyball tourney that has ESPN5 and 5Plus as broadcast partners.

Then, it’s going to be the Cargo Movers’ turn as they tangle with the HD Spikers in the 7 p.m. featured encounter of the league backed by Asics, Mikasa, Mueller, Senoh, Team Rebel Sports, Bizooku, UCPB Gen, Hotel Sogo and Data Project.

Foton and Sta. Lucia won their opening-day matches over the weekend.

Drawing strength from former Turkish national team member Selime Ilyasoglu and American Courtney Felinski, the Tornadoes dominated United VC, 26-24, 25-20, 15-25, 25-21, while the Lady Realtors snapped their 13-game losing streak when they eked out a heart-stopping 25-21, 22-25, 25-23, 16-25 win over Generika-Ayala.

Joining them in the win column will be the main objective of F2 Logistics, which waged a recruiting coup in a bid to regain the crown in the import-flavored conference.

After bowing to Petron in a thrilling finale last year, F2 Logistics tapped veteran reinforcement Lindsay Stalzer and prolific Italian-American journeywoman Becky Perry to join the solid core of Aby Marano, Ara Galang, Kianna Dy, Dawn Macandili, Majoy Baron and Kim Fajardo in its title quest.

Stalzer, a three-time champion and former Most Valuable Player, steered the Blaze Spikers to the title last year and her presence will provide the Cargo Movers experience and stability on the floor.

Unfortunately for the Cargo Movers, the comely American will not join them until next week until she completed her contract with Jakarta BNI Taplus in the finals of the Indonesian Proliga.

UNITED Volleyball Club’s Yasmeen Bedart-Ghani drills one in against Foton’s Selime Felenski and CJ Rosario during their match over the weekend.

Foton won, 26-24, 25-20, 15-25, 25-21.

“It’s okay. It’s a very long season with double round eliminations. I’m sure she can catch up as soon as she lands here next week,” F2 Logistics’ team manager Hollie Reyes said.

With Stalzer out, it’s going to be an uphill climb for F2 Logistics as it is stacked against an explosive Cignal squad that is powered by former United States junior national team member Erica Wilson and Azerbaijani Anastasia Artemeva together with veterans Rachel Anne Daquis, Mylene Paat, Janine Navarro and Acy Masangkay.

PODIUM FOR JOOLA Members of Team

Joola, led by World Championship of Pingpong campaigner John Russell Misal (sixth from left), receive their medal and trophy after finishing runner-up to Indonesia in the Men’s Open Team division in the Ninth Flexible Cup International Table Tennis Championships over the weekend at the Harrison Plaza Activity Center in Malate, Manila.

The Indonesian pulled off a 3-0 win against Team Joola in the winner-take-all finale in the three-day event backed by Flexible Packaging Corp. The other members of the team are Table Tennis Association for National Development Honorary President Charlie Lim (fifth from left), Chinese import Chen Lei Xin, Jong Ortalla, Alexis Bolante and Philip Uy (second from right), who claims the 40-over men’s single gold medal.

“Erica has been on our radar since last year.

I’m glad that we finally had the chance to tap her,” said Cignal Coach Edgar Barroga, referring to Wilson, who was part of the powerhouse US Team that saw action in the FIVB U23 World Championship in 2013.

“She’s a gifted scorer who can help Rachel carry the scoring load. Since Jovelyn [Gonzaga] is still out, we want an import who can help in the scoring department—and Erica perfectly fits the bill.”

Also set to draw attention is the battle

between Petron and PLDT. Petron will be parading two of the best imports the leagues ever saw in Katherine Bell and Stephanie Niemer together with new recruit Denden Lazaro, while PLDT will be bannered

by Americans Grace Lazard and Kendra Dahlke, together with Jasmine Nabor, Aiko Urdas and the returning Louann Latigay.

“We may have a strong team, but this Grand Prix is a wide open race,” said Petron Coach Shaq de los Santos.

RGANIZERS of the Tokyo 2020 Olympics and Paralympic Games have increased the budget for the opening and closing ceremonies.

The ceremonies were initially budgeted to cost ¥9.1 billion (£64 million/$82 million/€72 million), according to the Japanese capital city’s plans during the bid phase for the Games.

Tokyo 2020 Chief Executive Toshirō Mutō reportedly confirmed the increased budget following an Executive Committee meeting on Monday.

According to Japanese news agency Kyodo News, the budget has been increased to around ¥13 billion (£91 million/$117 million/€103 million)—a raise of nearly 43 percent.

The figure is expected to be lower than the cost of the opening and closing ceremony at London 2012, while it is anticipated the sum will be less than their successors Paris 2024 are expected to spend.

Mansai Nomura, the famous Japanese kyogen actor, will be the chief executive creative director of the both ceremonies.

Nomura is best known for his performances on stage and in film as an actor, but he has also produced and directed performances both in Japan and overseas.

Takashi Yamazaki is the executive creative director for the ceremonies of the Olympic Games.

The head of Tokyo’s city government, meanwhile, has declined to weigh in on the future of Japanese Olympic Committee (JOC) President Tsunekazu Takeda, who is being investigated for his part in an alleged bribery scandal.

Asked on Monday if Takeda should resign, Tokyo Governor Yurkio Koike told reporters: “This is an issue for the JOC. Therefore, as the government of Tokyo, we are looking at what efforts need to be made in order to ensure the success of the games.”

Members of the JOC executive board are up for reelection this summer. There is speculation Takeda will not run, or could be replaced. French investigators believe he may have helped Tokyo win the 2020 Olympics in a vote by the International Olympic Committee (IOC).

Takeda has been JOC president since 2001.

He is also a powerful IOC member and the head of its marketing commission. He has not stepped aside from either position while the IOC’s ethics committee investigates.

A similar vote-buying scandal tarnished the 2016 Rio de Janeiro Olympics and former IOC member Carlos Nuzman, who was also head of the Brazilian Olympic Committee.

French authorities suspect that about $2 million paid by the Tokyo bid committee— headed by Takeda—to a Singapore consulting company, Black Tidings, found its way to some IOC members in 2013 when Tokyo won the vote over bids from Istanbul and Madrid.

Takeda last month acknowledged he signed off on the payments but denied corruption allegations. An internal report in 2016 by the JOC essentially cleared Takeda of wrongdoing.

Insidethegames and AP

God of salvation

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EAR God, You rescue those who call upon You. In trust and faith we pray: Oh God, come to our aid. Help us to persevere in prayer and good deeds. Sensitize us so we can give comfort to those who suffer trauma and depression. Reunite families who are separated by war or political uprising. May God give us strength and wisdom to find hope in Jesus, by the power of the Holy Spirit. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

AN entryway in a Florida home by Touzet Studio. Designer Jacqueline Gonzalez Touzet says terrazzo flooring, as seen here, is a great choice due to its durability and longlasting beauty. PHOTOS: AP

‘KonMari’ your home and earn more than P17,000 DECLUTTERING your home can be quite intimidating.

Requiring a lot of time and effort, it is a seemingly herculean task and so you find yourself stumped and don’t know where to start. Enter the KonMari Method, an organizing technique made famous by tidying expert Marie Kondo. She has written books on the topic, and appears on the Netflix show Tidying Up with Marie Kondo. Her method involves tidying by category (clothes, books, papers miscellaneous items and sentimental items), keeping only the things that “spark joy,” and letting go of items that don’t. The technique encourages thanking the discarded items for serving you.

Now, where do you bring all your pre-loved stuff after you thank them? Well, take a cue from the thousands of sellers of secondhand items on OLX and turn your clutter into cash by conveniently selling it online.

A recent study by OLX (www.olx.ph), the country’s leading classifieds platform, computed the potential profit you can earn by decluttering your home and selling pre-owned goods that no longer spark joy. The research identified the popular, fastest-selling categories: fashion, gadgets, and health and beauty products. It then further looked into the pre-loved items most often bought in these categories, the average price of these items, and the average number of times buyers purchase them in a year.

Based on these data, you can potentially earn an estimated P17,700 by letting go of fast-selling used stuff and selling them online.

The most popular pre-owned fashion items are shoes and clothes, which have average prices of P1,250 and P750, respectively. On average, online shoppers buy two pairs of shoes and five pieces of clothes. If you tidy up your closet, and sell two pairs of footwear and five pieces of clothing you no longer wear, you can earn P6,250. Health and beauty products, meanwhile, have an average price of P450 and are usually purchased by online buyers 13 times per month. If you KonMari your beauty drawer and sell 13 products that don’t spark joy, your potential earning is P5,850.

Mobile phones are the most popular gadgets online, and buyers, on average, purchase them twice a year. Post an ad of your old cell phone on OLX, and you may earn P2,800 per unit, which is the average price of used mobile phones bought online. Who knew that letting go of our material possessions could actually make us happier? Let others experience what once sparked joy to you by selling your preloved items on OLX, which provides effortless ways to reach your customers.

“Our research shows a trend. More and more offline sellers are moving into the online domain to sell pre-loved items. Their top 3 reasons? One, it’s easy and convenient.

Two, it reaches more shoppers compared to offline selling, in which the audience is limited by location. Last, reason No. 3: Earn money. Instead of letting your old stuff collect dust in a drawer, sell it and make money,” said OLX Philippines Head of Goods and Services Rambo Joinani.

CIRCLES: GALLERIA DUEMILA TO SHINE LIGHT ON ‘FORGOTTEN MASTERS’ D4

Tuesday, February 19, 2019

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THIS rendering provided shows the living and dining area in an apartment in Saudi Arabia, by Perkins+Will Dubai. Light colored flooring will subtly make a room feel more spacious, and luminous, says architectural designer Elina Cardet.

Options abound in �looring today A

By MeliSSa rayWOrtH The Associated Press

STUNNING sofa or a beautiful wall color might catch your eye when you enter someone’s home.

But flooring is the key to any room, says interior designer Elina Cardet.

As the visual base for every other design choice, “flooring is the most important decision,” says Cardet, interior design director at Perkins+Will’s Miami office. Beauty matters, as does durability and also comfort: “You’re going to be barefoot on this floor,” she points out.

Recent technological innovations have created a wide variety of flooring options today.

Cardet and two other interior design experts—Lauren Rottet of Rottet Studio in Houston and Jacqueline Touzet of Touzet Studio in Miami—offer advice on making this key design decision: HARDWOOD CHOICES THERE are many synthetic versions of hardwood floors these days—products that promise to look and feel like solid wood but cost less. Some can look lovely, these designers agree.

But they advise moving cautiously. “There’s not enough history to know if it’s going to hold up,” says Rottet, whereas hardwood offers durability and longevity. “A beautiful wood floor is classic.”

Cardet suggests that “if it’s possible and your budget allows it, try to invest in hardwoods that are certified, to make sure it comes from a forest that was well managed.”

Which style of hardwood should you choose? Wide plank floors are popular right now. But Rottet points out that since they have fewer joints than narrower plank floors,

there is less opportunity for the floor to expand and contract over time. The occasional crack might happen, depending on your climate, and may need to be patched with wood putty and restained. Wide planks also tend to be more expensive.

So the traditional, narrower wood planks can be a more practical choice.

NEW TECHNIQUES AND COLORS CERUSING is a technique involving sanding the wood, putting white paint on it, and then sanding it again to create contrast and draw attention to the beauty of the grain. It creates what these designers describe as a “smoky” look.

You can also find wood floors that have been “smoked” through a traditional process from the arts and crafts movement that involves adding ammonia to the air when the wood is being processed. Touzet says the result gives the flooring a range of colors.

What shade of stain should you choose?

Light-colored floors can make a room feel larger, but Rottet says some light oak floors can fade to a yellowish color.

Gray is also popular for wood floors right now. But “you have to be careful with gray,” she says, “because it can bleach toward green.”

Keep in mind that a floor that gets lots of direct light may change appearance over time. Dark brown, nearly black shades can also be beautiful, Rottet says. Just be aware that you may need to sweep often. Darker shades, whether in wood or ceramic tile, will also help a space feel warmer, Cardet says.

Overall, Cardet suggests making conservative choices with flooring colors and styles, then getting creative with area rugs that can be replaced if your taste changes.

CONSIDERING CONCRETE AND TILE CONCRETE floors are trendy and can be beautiful. But over time, cracks can form, and there’s little that can be done to prevent them. Some people don’t mind the look, so use concrete only if cracks won’t bother you. Concrete floors also don’t absorb sound well.

Another option is large porcelain tiles that look similar to concrete or stone. “We love terrazzo instead of concrete,” Touzet says. “It’s been around for centuries, and you can get the aggregates pretty fine, so it almost looks like a concrete floor.” Porcelain is generally durable, although it can chip.

Cardet recommends “through-body” tile, which is made of the same material all the way through. It can be more expensive, but because the color isn’t just on the surface, the look of the floor isn’t ruined if there are chips.

In choosing tile or stone, many customers are increasingly aware of durability. “We have been seeing less of limestones that are super-precious and soft,” Touzet says. “People want an ease of living with their floor, not constantly maintaining it, putting a sealant on it.”

SECRET SAVINGS IF you don’t have the budget to do an entire room in hardwood but wish you could, Rottet has a creative solution: Put down carpeting throughout the room, but add a wood border that’s several inches thick around the edges of the room. It will appear as though your carpeting is actually a rug sitting on top of hardwood. Carpeting is less popular these days, Touzet says, because of concerns about dust and air quality. But you can find a low-pile carpet and choose natural materials such as wool to avoid those issues.

And one affordable, retro trend that may be returning: high-end vinyl floors with the look of stone or wood. n

AMAIA SCAPES PAMPANGA’S AMENITY COMPLETION SPELLS FUN FOR ITS RESIDENTS HOW wonderful it would be if families could savor life’s pleasurable moments right in the comforts of their community.

This is what Amaia Scapes Pampanga (www. amaialand.com) envisioned for its residents when it completed its cozy and highly functional amenities giving homeowners access to a village pavilion where they can hold fun social gatherings and celebrate milestones; a basketball court and play area where the community’s youngsters can get acquainted; and a swimming pool where residents can take

refreshing dips.

As part of the opening activities, blessing rites were held, after which children were invited to partake of free swimming lessons.

Located on Angeles-Magalang Road, Barangay Sapang Maisac in Mexico, Amaia Scapes Pampanga is a sprawling development that offers quality homes at affordable prices.

It is a ride away from Angeles City and Magalang Town Proper, and near key establishments and commercial centers like Marquee Mall, Robinsons

Angeles, SM City Clark, Puregold, Holy Angels University, Clark Special Economic Zone and the Diosdado Macapagal International Airport.

Amaia Land brings the dream of owning of affordable and sustainable homes closer to hardworking Filipinos through easy payment options: cash, deferred cash, and bank financing. The realestate developer continues to serve its homeowners with affordable and sustainable developments that aim to elevate the Filipino living experience in a wellserved environment.

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‘Killer Collective’ is another page turner from Barry Eisler A

By Bruce DeSilva The Associated Press T first blush, Barry Eisler’s new thriller, The Killer Collective (Thomas & Mercer), resembles one of those cartoonish action movies in which a handful of retired

covert operators who don’t trust each other are forced by circumstances to join forces for one last job.

Indeed, Eisler has assembled the most memorable characters from his 14 previous novels and given each major roles in The Killer Collective. There’s Livia Lone, a Seattle sex crimes investigator who would rather kill perverts than jail them. And John Rain, an assassin who specializes in “natural causes.” And Delilah, a treacherous Mossad agent. And Dox, a former Marine sniper. And deadly black ops soldiers Ben Trever and Daniel Larison. And the pair’s old commander, Scott Horton. As the story begins, all but Lone have retired to quiet lives, but inevitably, trouble finds them.

The action starts when someone who wants to remain unknown uses Horton to arrange a hit. He’ll pay Rain a million dollars to kill a Seattle cop and two Federal Bureau of Investigation (FBI) agents if the hit man can make the deaths appear accidental.

After Rain turns down the job, an airliner carrying the FBI agents crashes into Lake Michigan. A team of assassins tries to bushwhack Lone and botches the job. And Horton and Rain barely escape when the unknown bad guy tries to tie up loose ends.

Lone and the FBI agents had been marked for death after uncovering a pedophile ring involving six Secret Service Agents.

Such a scandal would be embarrassing, of course, but would someone really bring down an airliner to cover it up? Clearly, a more nefarious conspiracy involving higher-ups must be at work.

So Lone and Rain combine forces, and the “Killer Collective” is assembled to identify the conspirators and take them out.

Unlike movies such as Red (featuring Bruce Willis, Morgan Freeman, John Malkovich and Helen Mirren), Eisler’s tale is anything but cartoonish. In fact, the most compelling part of the story is the way the author portrays the complex relationships among his characters, from old romantic involvements to past betrayals that have them bristling with mutual distrust. All of that must be overcome if they are to work as a team. Eisler, a former covert operative for the CIA, knows this turf.

And as usual with an Eisler novel, the plot is full of twists, the prose is muscular and the action unfolds at a torrid pace. The result is another page turner from one of the better thriller writers since James Grady published Six Days of the Condor in 1974. n

z

‘Stalker’ by Lars Kepler is a wild ride WHEN the lead detective in a crime novel is introduced as an expert on “serial killers, spree killers, and stalkers,” you know you’re in for a rough ride. And when you read the descriptions of the killings in the early chapters of Stalker (Alfred A. Knopf), you’ll feel like you’re plunging down the first steep descent on a roller-coaster—you’ll want to scream with abject terror.

The beginning of the new book from husband-and-wife team Alexandra Coelho Ahndoril and Alexander Ahndoril, writing as Lars Kepler, was as gripping as it was disturbing.

Police in the Swedish National Criminal Investigation Department receive a link to a short YouTube video showing a woman in her bedroom, putting on a pair of black tights, filmed secretly from the outside.

Soon after, the woman is found murdered, her face mutilated by multiple stab wounds in a horrific attack. When a second video is received, Detective Margot Silverman knows a serial killer is on the loose.

The accounts of the killings are very explicit, written in vivid, sickening detail and the first chapters felt excessively graphic. Once the hunt for the killer begins in earnest, I was happy to leave the horror of the early murders behind.

Silverman enlists a hypnotist and psychiatrist, Erik Maria Bark, to help unlock the mystery, and Detective Joona Linna (from previous Lars Kepler novels) returns to play a starring role. Bark tries to discover clues to the killer’s identity by hypnotizing a brain-damaged ex-priest who had been imprisoned for a crime similar in nature to the newest stalkervideo-murders. Bark scours the broken memories of the expriest, wondering if he had an accomplice or if he didn’t in fact commit the earlier crime and the killer has been on the loose the entire time.

As Stalker unfolds, you’ll encounter false leads, angry thugs, a drug den, closely kept secrets, jealous coworkers and improbable escapes. It’s a wild ride as the killer hunts for victims and the police pursue the stalker.

The fast-paced chapters and devious plot twists left me hypnotized and eager to find the stalker’s identity. Now, I might just want to be hypnotized to have the images of the murders purged from my memory. AP

FLAWED people and a forceful look at an area ravaged by an economic downturn and a rising opioid epidemic meld in the character-driven Sugar Run (Algonquin), Mesha Maren’s novel debut.

At 35, Jodi McCarty is getting her first taste of freedom when she’s released from prison after being convicted at 17 for shooting her girlfriend, Paula Dulett. Before Paula, the only person who had been kind to Jodi was her grandmother, Effie. The aimless cross-country trek, including a dip into Mexico with Paula, was the closest to happiness Jodi had known, savoring the “delicious, unfamiliar risk” of each day.

The couple supported themselves with petty crimes

and Paula’s skills as a poker player. Paula’s intoxicating talks about how a good poker hand is a “sweet sugar run” has Jodi remembering her West Virginia home, and how she wants to return to the landscape of “flashing mountain creeks that appear out of nowhere after a good rain.”

The relationship with Paula—and its violent end— preys on Jodi’s mind as she begins her new life, hoping she can fulfill her dream of settling on the land once owned by her grandmother. Then Jodi meets and falls for Miranda Matheson Golden, who is separated from her husband, a country music star “of receding fame.”

Along with Miranda’s three sons, the new couple heads for West Virginia where Jodi remembers “even the air around her had felt right.” Along the way, Jodi hopes to find Paula’s younger brother, Ricky, who

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Millie Bobby Brown, 15; Benicio del Toro, 52; Henry Olusegun Adeola “Seal” Samuel, 56; Jeff Daniels, 64.

HAPPY BIRTHDAY: Look for the good in everyone and everything, but don’t be naive. Knowledge is a powerful tool and guide to getting ahead. Do your research, and when you are ready to bring about changes, do so with confidence and a plan. Refuse to let emotional situations dictate how you handle what’s going on around you this year. Your lucky numbers are 3, 10, 16, 21, 33, 35, 41.

a

ARIES (March 21-April 19): Don’t worry about what others do or think; it’s up to you to be accountable for your actions and taking care of your responsibilities. Learn as you go, and make the necessary changes along the way as you strive to improve. HHHHH

b

TAURUS (April 20-May 20): A steady pace will get you where you want to go. Don’t let emotions come between you and your dreams. Let go of the past and head into the future with the intent to be and do your best. HH

c

GEMINI (May 21-June 20): Don’t lose sight of the truth, even if you want to believe what someone tells you. Home improvements will encourage you to spend more time with family and less time gallivanting with people who don’t have your best interests at heart. HHHH

d

CANCER (June 21-July 22): Spread your wings and let your imagination help you create. Putting a unique spin on whatever job you are given will not go unnoticed. Love, romance and relationships are highlighted, and with a little nurturing, will stabilize your life. HHH

e

LEO (July 23-Aug. 22): Be receptive to what others say, but don’t base your actions on the information offered. Go directly to the source, and you’ll think twice before you make a promise or align yourself with someone who tends to exaggerate. HHH

f

VIRGO (Aug. 23-Sept. 22): Don’t divulge information about others if you don’t want someone to spread rumors about you. It’s best to be a good listener and observer and to put more effort into physical and mental self-improvement.

Romance is on the rise.HHH

g

LIBRA (Sept. 23-Oct. 22): Use reason and offer solutions. Be willing to walk away if you are met with resistance. If someone doesn’t want help, look inward and help yourself. A change may not be wanted, but it might be needed. HHHH

h

SCORPIO (Oct. 23-Nov. 21): Stick close to home and protect your possessions, assets and reputation. Someone you work with will try to make you look bad. Don’t get angry; get even by doing your best and being successful. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): You’ll be fed false information. Use your resources wisely, and don’t count on a single source if you want to find out the truth. A change of pace will help you outmaneuver someone who is trying to use you.

HHHHH

j

‘Sugar Run’: Mesha Maren’s heartfelt debut novel

By Oline H. Cogdill The Associated Press

Today’s Horoscope

was abused as a child. Sugar Run gains its strength from Maren’s uncompromising storytelling and her insistence on showing even the most painful realities, especially when Jodi finds her grandmother’s land “ripe with disuse.”

Maren seamlessly moves Sugar Run from 1988 as she describes the deteriorating romance between Jodi and Paula and the present as the newly released Jodi, who always considered herself a victim and is now desperately trying to make better choices with her life and her heart. Jodi is constantly weighed down by her past, and her future with the complicated and unstable Miranda.

Jodi fears her grandmother was correct—“the future was only a parallel of the past.” Jodi’s salvation will be if she can rise against her past.

CAPRICORN (Dec. 22-Jan. 19): Race to the finish line. Don’t wait to see what someone else is going to do. Trust and believe in your ability to handle whatever comes your way. You’ll gain respect and an unexpected opportunity to use your talents uniquely. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Charm your way through tricky conversations with people trying to trap you into taking on responsibilities that don’t belong to you. Taking action and doing your own thing will be your best options if you want to bring about positive change. HH

l

PISCES (Feb. 19-March 20): Align yourself with people in the know. Gather information using charm and flattery to encourage others to speak openly. An offer should be looked over carefully before you decide to participate. HHHH BIRTHDAY BABY: You are sensitive, determined and underrated.

You are intuitive and productive.

‘rolling in the aisles’ BY DAVID ALFRED BYWATERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 1,000 paces, originally 5 Pungent salad green 10 Flow back 13 Colorful eye part 14 Entice 15 Canine annoyance 16 Flooring in Saint Thomas Becket’s bathroom?

19 Bit of clowning 20 Make a model of 21 Rowdy crowds 24 Wheel covering 25 Court jacket?

29 Winemaker’s container 32 $50, for Boardwalk 33 Pet with “nine lives” 34 Want 36 Longest mountain range 38 Weasel sound?

40 Eagle’s claw 41 Playground lever 43 “Skip to My ___” 45 How a bad joke may fall

6 Curse 4 47 Tragic actor’s supply?

50 Word with “ping” or “beer” 51 Cad 52 Like an octopus’ habitat 56 To a great extent 60 Look elsewhere for that sock?

63 Temporary calm 64 Cow’s access point 65 De-wrinkling tool 66 ___ and outs 67 Uses a stun gun 68 Require DOWN 1 Layered mineral 2 Afghanistan neighbor 3 Dryer residue 4 Guesses 5 Middle: Abbr.

6 Yank’s Civil War foe 7 Kicking Australian birds 8 Small spray 9 Thwarted 10 Jazz singer Fitzgerald

1 Red as a ___ 1 12 Vulgar 15 Manicurist’s tool 17 Sci. with organisms 18 Castle tower 22 U. TV network 23 Hockey shot sound 25 Rubbish 26 French name meaning “reborn” 27 Back-of-book list 28 Ring-shaped reef 29 Country residence 30 Like an excited stadium 31 Campers’ shelters 35 Diaper securer 37 Sweet’s culinary counterpart 39 Wading site 42 Emerges victorious 44 Alien ship initials 48 Meeting items, collectively 49 Hollow cylinder 50 Pare 52 Fruit with a cutesy name 53 n., in a dictionary

4 Two-base hits, briefly 5 55 Sums 57 ___ hydrant 58 Soothing substance 59 Tear forcibly 61 Casual shirt 62 Day’s two dozen: Abbr.

Solution to yesterday’s puzzle:

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Tuesday, February 19, 2019

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Scrutiny, family woes pile pressure on pregnant Meghan L

By Gregory Katz The Associated Press

ONDON—When Meghan Markle became engaged to Prince Harry, the American TV star seemed to charm everyone she met. She and Harry toured Britain to adoring crowds, and she pledged to hit the ground running once she officially joined the royal circle.

Britain’s rambunctious, royal-obsessed press praised her as something different, a fresh take on an old “firm” in need of a bit of dazzle.

Nine months after her wedding extravaganza and now formally known as the Duchess of Sussex, the 37-year-old is pregnant—and finding that life in the royal fishbowl carries not just glamour and great charitable opportunities but liabilities, as well.

Meghan is engaged in a painful, public rift with her father—played out in the nation’s tabloids, of course— and dealing with speculation that she is feuding with Prince William’s wife, Kate.

Her half-sister Samantha has been sniping at her in public, and the once-fawning press has criticized her for everything from being hard on her household staff to spending too much time cradling her “baby bump.”

“I should think she’s finding it pretty difficult,” said Ingrid Seward, editor in chief of Majesty magazine. “It’s such a minefield, being a member of the royal family. Perhaps she should have eased herself into it a little more.”

She said Meghan has, like Princess Diana before her, probably been shocked at just how intrusive the press can be. “I don’t think they realized quite how nasty it would become,” she said of the continuing spat between Meghan and her father and half-sister.

Seward said Meghan will never be able to quell tabloid rumors about rifts in the royal household— stories that rely on unnamed “sources” will continue to bedevil her.

Meghan has maintained her equilibrium in public, keeping up a hectic schedule that includes travel and charitable appearances even as the birth of her first child nears.

She has been unfailingly elegant and gracious in public, and retailers say her fashion influence— dubbed the “Markle sparkle”—remains intact, shown by the spike in interest in Stow products after Meghan was seen carrying one of its leather travel organizers.

Talk of a royal feud between the spouses of Prince William and Prince Harry was fueled late last year

by Harry and Meghan’s announced plan to move out of central London, where they live on the grounds of Kensington Palace along with William and Kate, in favor of Frogmore Cottage, in a rural setting near Windsor Castle.

Some in the press jumped to the conclusion that Meghan was not only unable to get along with Kate but had also prompted a split between William and Harry. No one outside the royal inner circle knows for sure if there is ill will between Meghan and Kate. But there is no denying the ugly break between Meghan

BRITAIN’S Prince Harry and Meghan Markle leave Windsor Castle in a carriage after their wedding at Saint George’s Chapel in Windsor, near London, England, on May 19, 2018. AP

and her father, who has shared an anguished letter from Meghan with the Mail on Sunday tabloid.

“If you love me, as you tell the press you do, please stop,” Meghan implores her father, who has frequently spoken to the tabloid press about Meghan and the royal family. “Please allow us to live our lives in peace. Please stop lying, please stop creating so much pain, please stop exploiting my relationship with my husband.”

Royal expert Hugo Vickers says the strained relations between Meghan and her father may have reached the point of no return.

“It’s all become ridiculous, a tabloid scam,” he said.

The best thing would be some sort of reconciliation with him, but it may have gone too far.”

Meghan and Harry’s press office has not commented on the letter, portions of which were reprinted in The Mail on Sunday in what was said to be Meghan’s distinctive, elegant handwriting.

The publication of the August letter—claimed as a “world exclusive” by the tabloid—is the latest salvo in

the tabloids’ fascination with the elder Markle, who divides his time between southern California and northern Mexico.

Markle, 74, did not come to Meghan’s wedding in May, citing a last-minute heart ailment, so Harry’s father Prince Charles walked her down the aisle. He has complained that he can’t reach his own daughter now that she is part of the royal family.

Markle’s complaints, and a string of press stories criticizing Meghan, prompted a group of Meghan’s friends and former costars on the Suits TV show to tell People magazine that Meghan was being subjected to unhealthy scrutiny as she carries her first child.

Actor George Clooney, who did attend the royal wedding in May, made the same point this week, comparing the tabloid scrutiny of Meghan to the press harassment that contributed to the death of Harry’s mother Princess Diana in a 1997 car crash.

“It’s history repeating itself,” the star warned, saying it was frustrating to see a pregnant woman “pursued and vilified” by the press. n

BASED ON THE WRITINGS OF MARTIAL ARTS LEGEND BRUCE LEE, ‘WARRIOR’ DEBUTS ON HBO GO AND CINEMAX

ANDREW KOJI

THE Cinemax drama series Warrior begins its 10-episode season same time as the US on April 6 at 10 am exclusively on HBO Go and Cinemax. The episode repeats on the same day at 10 pm on Cinemax.

Filmed in Cape Town, South Africa, the show is based on writings of martial arts legend Bruce Lee, and created and executive produced by Jonathan Tropper (Cinemax’s Banshee) under Tropper Ink Productions and Justin Lin on behalf of Perfect Storm Entertainment.

Warrior is a gritty, actionpacked crime drama set during the brutal Tong Wars of San

Smollett says no truth he played role in attack CHICAGO—Attorneys for Jussie Smollett say there is no truth to reports that the Empire actor played a role in an assault on him last month by what he described as two men shouting homophobic and racial slurs.

In a statement late Saturday, the lawyers say: “Nothing is further from the truth and anyone claiming otherwise is lying.”

His lawyers say that Smollett will continue to cooperate with a Chicago police investigation into the

reported attack.

Chicago police earlier on Saturday said their investigation of the attack had “shifted” following the interrogation of two men. The brothers from Nigeria were first considered suspects, but then released from police custody on Friday without being charged.

Smollett’s attorneys say that one of the men was the actor’s personal trainer, hired to prepare him physically for a music video. AP

JUSSIE SMOLLETT

Francisco’s Chinatown in the second half of the 19th century.

The series follows Ah Sahm, a martial arts prodigy who emigrates from China to San Francisco under mysterious circumstances and becomes a hatchet man for one of Chinatown’s most powerful tongs (Chinese organized crime family).

Led by Andrew Koji, who plays Ah Sahm, series regulars also include Kieran Bew, Olivia Cheng, Dianne Doan, Dean Jagger, Langley Kirkwood, Hoon Lee, Christian McKay, Joe Taslim, Jason Tobin, Joanna Vanderham, Tom WestonJones and Perry Yung.

KRIS BERNAL TURNS HER PASSION INTO REALITY

MULTITALENTED actress Kris Bernal has been continuously proving her versatility in the remarkable roles she has played in various GMA programs that captivate the hearts of Filipino viewers. Currently, the actress headlines the top-rating afternoon series Asawa Ko, Karibal Ko. In the series, she plays Rachel, a simple woman who dreams of having a happy family. However, her prospect of happiness is met with a big blow when her husband undergoes sexual reassignment and facial feminization surgery in order to fully embrace the woman inside him.

Later, Rachel and her former husband vie for the heart of one man.

Kris expressed her gratitude for the positive feedback and immense support the show has been receiving.

She also revealed that viewers should look forward to more gripping twists in the story. “Nakakataba ng puso na maraming tumatangkilik sa pinaghihirapan ng buong cast at crew. I hope that they will continue to watch and support our show. Dapat nilang abangan kung hanggang saan aabot ang kasamaan ni Venus [Thea Tolentino] at sino nga ba ang pipiliin ni Gavin [Rayver Cruz].”

Apart from this, Kris jas joined the list of female celebrities to launch their own businesses. Last year, she opened House of Gogi, a Korean barbecue restaurant that offers unlimited samgyupsal for an affordable price.

This time around, Kris has ventured into the beauty industry as she turned her passion for makeup into a business aimed at empowering women by featuring “Filipinas and their inspiring stories.”

Kris puts a lot of effort into her self-established lipstick line especially developed and manufactured in Korea, called SHE Cosmetics (www.shecosmeticsph.com).

“I am very proud of SHE because I focused on pursuing the highest quality for a liquid matte lipstick.

Each tube of the lipstick has an all-natural formula. I hope to motivate women by sharing their stories of which every individual can learn and draw strength from to be confident in their own skin.”

The first collection of SHE lipsticks come five shades: Off She Goes, So She-Ic, She’s On Fire, Go Girl and She Lovin’ It.

Art

BusinessMirror

Tuesday, February 19, 2019

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UNTITLED, lacquer on wood, Marciano Galang, 1969, 30.50 x 30.50 cm / 12.02 x 12.02

CIRCULAR Series (Red and Yellow), mixed media on cement bag paper, Ray Albano, 1982, 50.80 x 50.80 cm / 20.02 x 20.02

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UNTITLED (Head Series), collage on paper, Roberto Chabet, 1986, 28.00 x 24.00 cm / 11.03 x 9.46

Galleria Duemila to shine light on ‘forgotten masters’ CIRCLES JT NISAY

jtnisay@gmail.com

W

ORKS by “abandoned” and “forgotten” masters of Philippine art take the spotlight on the booth of the longestrunning commercial gallery in the Philippines, Galleria Duemila, in the upcoming Art Fair Philippines 2019.

Established in 1975 by Silvana Ancellotti-Diaz, Galleria Duemila will mount pieces from Mars Galang, Ray Albano and Joe Bautista, among others, at Booth 36 of perhaps the biggest modern and contemporary art event in the country, which opens this Friday at The Link car park in Makati City.

“What we have are really masters that are being abandoned, forgotten,” Diaz said in a recent interview at the compound of her residence and gallery at Loring Street in Pasay City. “Many people do not remember them, but they are practically among the founders of

Philippine conceptual art.”

Galang, along with Albano and Roberto Chabet, who is also a featured artist of Galleria Duemila at Art Fair Philippines, all explore artistic processes and materials beyond the norm, pushing the limits of their artistic practices by reflecting on life sans figurative forms.

Galang, for one, is considered an exemplar of early Philippine minimalism. His work to be featured in the annual fair is an Untitled 1969 12-inch square painting that plays on warm color fields and shapes.

The piece captures Galang’s style that was considered ahead of his time.

Meanwhile, the Albano pieces explore color, spaces and the circular nature of life via cement bag paper, inspired by the late-1960s to early-1970s Italian contemporary art movement called Arte Povera, or the creation of art using any material. In the same vein, Chabet’s Untitled (Head Series) from 1986 to 1992 make use of newspaper and magazine clippings, as well as monochromatic construction paper cutouts.

Galleria Duemila will mount a total of 50 pieces for this year’s Art Fair. Rounding out its lineup of artists are Betsy Westendorp, Roberto M.A. Robles, Justin Nuyda, Alfredo Aquilizan, Joe Bautista and Jinggoy Buensuceso, who had his first exhibit with Galleria Duemila in 2014.

Diaz said Buensuceso has the power of great, multi-medium creativity, capable of shifting between

architecture, painting and other forms. His pieces to be exhibited at the Art Fair are two versions of a work titled Ancient Cities of Children, featuring a darkened, century old-mango tree using charcoal that brings the life out of the colorful, vertical lego structures resting on it.

Galleria Duemila (www.galleriaduemila.com), named after the Italian word for “20th century,” has handled prized works by modern masters of that period, from Fernando Amorsolo to Fernando Zobel, from H.R. Ocampo to Cesar Legazpi, along with local and foreign artists of the current generation.

Diaz established the gallery in 1975. The 70-yearold Italian woman of the arts was a former flight attendant, who pulsed each country she visited by visiting its local museums, saying it was the best way to know a place and its people.

“When I go to a new country and stay there for two to three days, I plan ahead of where to go, particularly the museums,” she said.

Art appealed to Diaz at an early age, when her summers as a kid were spent on trips to the museum and gallery visits. She arrived in the country in 1971 and married artist Ramon Diaz, brother of former Miss Universe Gloria and painter Isabel.

Diaz curated Isabel’s exhibit and sold well. It was a time, however, when the gallery she worked for closed, and she decided to open her own.

This was during martial law, when there was

limited access to information. Diaz found her way into the famed Saturday Group, the organization of Philippine art titans who convened at the nowdefunct Taza de Oro restaurant in Malate every Saturday at 3 pm to share discussions about art, such as the best place to buy paint, or the best type of canvas.

“For a young woman like me, to have been able to spend time around those masters, it was godsend,” Diaz said. “I knew about art from a formation of going through museums and everything, but joining the Saturday Group, I saw art alive.”

Diaz then opened Galleria Duemila, first in Makati. It was a multi-hat engagement, from running the gallery, selling works, studying interior design and mothering two children. The early years were tough. Eventually, to be closer with her family, she had to move the gallery to Pasay, its current home.

Looking back, Diaz said she has no idea how she survived those trying times and managed to guide Galleria Duemila to become the longest-running commercial gallery in the country. Her best guess, according to her, is perseverance.

“I always had great fuel in myself. I will not be defeated,” Diaz said, adding that her motto is: Forward is always forward, and tomorrow is another day.

“I had always wanted to do something, to create something and I fell in love with the creation of different artists.” n

TWO FIRST SOLO EXHIBITIONS OPENS AT CCP ON FEBRUARY 21

PLDT ADDS COLOR TO DINAGYANG FESTIVAL 2019

THROUGH its Community Relations (ComRel) Division led by Katherine Diaz de Rivera, PLDT recently held an art workshop anchored on the theme “Connecting communities through culture and faith.” The art workshop was held at the PLDT Panay Consumer Experience Zone Office.

In partnership with Museo Iloilo, the PLDT art workshop invited children aged six to 12 to create an image that encapsulates the strong connection between Iloilo’s rich culture and faith as celebrated yearly in the Dinagyang Festival. Visual artists from Museo Iloilo Jason Delgado and Neil Anthony Alonday conducted the art workshop.

The participants came from four barangays within Iloilo City, including Barangay Navais, Barangay Nabitasan, Barangay Sinikway and Barangay Magsaysay Villa Paz. The winners of the art workshop were awarded with cash prize sponsored by PLDT. This year’s winners are (from left) nine-year-old Cardashian D. Faban (first from left and nineyear-old Shan Iro S. Centina (third from left) from Barangay Sinikway; 10-year-old Elyka Jean Salcedo from Barangay Navais; eight-year-old Angella Segura, 10-year-old Maezelle Grace Cordero Delmo, and 10-year-old Ron Miru Gonzales who are all from Barangay Magsaysay Villa Paz. Also in photo are (from left) visual artist Jason Delgado, PLDT ComRel Division Head Katherine Diaz de Rivera, Barangay Captain Gina F. Barrientos, visual artist Neil Anthony Alonday and Museo Iloilo Curator James Mozart Amsua.

THE Cultural Center of the Philippines (CCP, www. culturalcenter.gov.ph) opens two venue grant exhibitions on February 21 at 6 pm.

The Bulwagang Fernando Amorsolo (Small Gallery) presents SRP, a solo exhibition by Jstranzhur. SRP extricates consumer culture from its hidden, pervasive status in everyday life and exposes it in the contrapuntal museum space for everyone to see, question and resist.

Jstranzhur is a self-taught artist based in Bulacan.

He studied Computer Engineering in STI College of

Meycauayan before transferring to Multimedia Arts in the University of the East in 2014.

He enrolled in the Art Studies program of the University of the Philippines-Diliman in 2016. SRP is his first exhibit to date.

The Pasilyo Victorio Edades, on the other hand, houses an installation by Mary Lyn S. Dioso, titled Unabridged Space. The artist describes her work as “a metaphorical space for the consumer to exercise self-arbitration.”

Dioso was born in 1995 and is based in Manila.

She graduated in 2015 with a Bachelor of Fine Arts major in Advertising Design cum laude from Saint Scholastica’s College, Manila. Unabridged Space was originally presented as her thesis for her Master of Art in Fine Arts and Design from the Philippine Women’s University in 2017.

Unabridged Space may be viewed until April 21 and SRP until April 28. Exhibit viewing hours are Tuesday to Sunday, 10 am to 6 pm. Hours are extended until 10 pm on days with evening performances at the CCP Main Theater.

‘Off the Greed: A Planned Obsolescence’ by Artbermido ON February 21, ArtistSpace presents Off the Greed: A Planned Obsolescence, the solo exhibition of visual artist Artbermido. The artist reminds the world of what is needed now with his eponymous effort.

Kakuzo Okakura, a giant in the world of Japanese art, once quipped that the “art of life lies in constant readjustment to our surrounding,” or to a series of stimuli that process the ways we choose to define ourselves.

In the course of living out our humanity, we strive at some point to effect positive changes all around us but struggle to do so. Not for the absence of will but more to the obsolescence of virtues we oftentimes care not to nurture.

Greed for our own selves, for the ones we love and for the people we care about has become unceasing.

Joy, dignity, honesty, wisdom, sincerity, integrity—simple virtues but increasingly taking a backseat in the frenzy of navigating our everyday lives.

Artemio I. Bermido Jr., one of the most highly respected and well-acclaimed visual artists from the province of Quezon, depicts a series of felicitous reminders of how these virtues should take (literally) the spotlight.

They say one way to appreciate art is to understand the

artist. In this case, the artist is Art himself, as he is fondly called since he was a little boy.

He is just one of the million little dreamers aspiring to alter the course of the world, of life, and of many lives through brushes, paint colors and canvasses.

Starting out as a #syanoartist and creating pieces that were partial to the red, gold, and happy hues impacted by the musings of his youth, experiences in his idyllic hometown, and random inspirations growing up (and getting older), Art has evolved both as a person and as an artist. Now a doting husband and a father of two, his recent paintings and the art he is creating reflect the responsibility, the commitment, and the passion to communicate his beliefs and philosophy first to his family and onto a larger, bigger audience.

Continuing his “Stimuli Series” of paintings, this special exhibition highlights the virtues he holds dear, the virtues he strongly believes that everyone must dig deeper into to affect the changes we want in our lives.

He may not be the little boy anymore dreaming of changing the world, but change the world he does nonetheless through, eponymously, his art.

GRACIELLA PABULARCON