Businessmirror February 20, 2019 by BusinessMirror

HOUSE WANTS OVERSIGHT PANEL FOR RICE TARIFF LAW; HEARINGS SET ON DRAFT I.R.R. By Jovee Marie N. dela Cruz @joveemarie

& Cai U. Ordinario @caiordinario

HE leadership of the House of Representatives on Tuesday said it will convene an oversight committee to ensure the proper implementation of a new law that replaced the caps on rice imports with tariffs. The National Economic and Development Authority (Neda) also announced on Tuesday that the implementing rules and regulations (IRR) of Republic Act (RA) 11203 will soon be subjected to a

A FARMER walks home from the field somewhere in Luzon in this 2017 file photo. Local farmers have expressed fear the recently enacted rice tariffication law would kill their sector, but political leaders said an oversight panel will make sure the best intentions of the law will be followed. NONOY LACZA

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

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nationwide consultation. Speaker Gloria Macapagal-Arroyo said an oversight committee will ensure that the provisions of the law are implemented. “The chairman [of agriculture committee] is [Jose] Panganiban [of AnacIP party-list] and he was the sponsor [of the measure in the lower chamber]. So I will ask his ideas but I think it will be good, because it’s an important bill and now we’ll make sure it’s implemented,” Arroyo said in an interview. “So I suppose the implementation details and what to do will depend on Chairman Panganiban. I’ll talk to him.

A broader look at today’s business

Wednesday, February 20, 2019 Vol. 14 No. 133

Port operator, shipping lines move on congestion

By Lorenz S. Marasigan

@lorenzmarasigan

SIAN Terminals Inc. and major international shipping lines agreed on Tuesday to jointly undertake initiatives to address the current logistics challenges—particularly the buildup of empty containers—at the Manila South Harbor. Through a collaborative session, the five shipping lines agreed to cooperate and share vessel resources to evacuate the empty

containers in Manila, while the port operator will dedicate ample resources to handle the requirements of the shipping lines to

ensure quick turnaround time. The six shipping lines that will participate in this initiative are CMA-CGM Group, T.S. Lines,

The number of twenty-foot equivalent units (TEUs) of empty containers that six shipping lines will jointly pull out from the port for recirculation to Asian destinations on a weekly basis

Evergreen, Yang Ming Lines, Wan Hai Lines and Hyundai Maritime. They will jointly pull out over 10,000 twenty-foot equivalent units (TEUs) of empty containers from the port for recirculation to Asian destinations on a weekly basis. Continued on A2

By Elijah Felice E. Rosales @alyasjah

ONSTRUCTORS want legislators to pass a law institutionalizing the “Build, Build, Build” program to ensure projects listed under it will be financed and completed by administrations after President Duterte’s. Trade Undersecretary Rowel S. Barba said on Tuesday the government and constructors have approved the road map for the construction industry. One of the recommendations of the road map was to pass a law that will institutionalize the Build, Build, Build program. He said this is necessary to secure funding and prioritization for transportation and public-works projects listed under the ambitious program initiated by the Duterte administration. “One of the recommendations of the road map, as desired by the industry, is to legislate the Build, Build, Build so the next administrations will be required Continued on A3

BUSINESS NEWS SOURCE OF THE YEAR

Saving civilians–The UN peacekeeping mandate, in case we’ve forgotten Teddy Locsin Jr.

FREE FIRE Speech delivered by Ms. Kira Christianne D. Azucena, chargé d’affaires, during the General Debate on the 2019 C-34 Substantive Session on February 11-12, 2019, at the Conference Room 1, UN Headquarters, New York.

T Mr. Chair,

HE Philippines aligns itself with the statement delivered by Indonesia and Morocco on behalf of the Association of Southeast Asian Nations (Asean) and the Non-Aligned Movement (NAM).

We gather again to show our collective commitment to keeping and sustaining peace as a goal and a process, and reinvigorate the Organization’s mandate for peace as the core principle of the UN system. This is the defining activity of a collective body born from the ashes of war. Continued on A6

Better BSP investments income swells January BOP surplus to $2.704B By Bianca Cuaresma

T THE construction binge continues in the central business district in Makati, seen in this file photo. The government has been bitten by the construction bug as well, embarking on an ambitious infrastructure program that the construction sector hopes would be “institutionalized” to ensure that even beyond the Duterte administration, the projects will be pursued by succeeding governments. NONIE REYES

Woes of auto industry continue in January as sales down 15% HE automotive industry has shown no signs of recovery in the first month of the year, as January sales fell 15 percent with four segments posting double-digit declines. Local carmakers sold 26,888 units in January, down 15 percent from the 31,645 units sold during the same month last year, according

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10,000

Govt asked: After Duterte, will infra projects go on?

Continued on A2

BusinessMirror

www.businessmirror.com.ph

I’ll ask him about it,” she added. Panganiban confirmed the convening of the oversight committee. As chairman of the agriculture committee, he will head the oversight committee. “I will make sure that in the drafting of the IRR the interest of the rice farmers will not be left behind. I am the chairman of the oversight committee,” he told the BusinessMirror via SMS. Arroyo called for the proper implementation of RA 11203, or the Rice Tariffication Act, to further cut the country’s inflation rate.

to a joint sales report by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association Inc. (TMA). The auto industry registered a decline in sales at a time it expects sales to rebound after a dismal showing in 2018. Data from Campi and TMA

PESO EXCHANGE RATES n US 52.3440

showed that sales of passenger cars plunged 13.3 percent to 8,487 units, from last year’s 9,790 units. Further, sales of commercial vehicles in January slowed 15.8 percent to 18,401 units, from 21,855 units during the same month last year. Under this segment, sales of Asian utility vehicles posted the largest decline at

58.5 percent to 2,410 units, from 5,811 units. Local car manufacturers also sold fewer light commercial vehicles and trucks and buses at category 5, but more light trucks and trucks and buses at category 4, with sales expanding 32.6 percent and 11 percent, respectively. See “Auto industry,” A2

@BcuaresmaBM

HE Philippine economy started the year with billions of dollars in balance of payments (BOP) surplus in 2019, the Bangko Sentral ng Pilipinas (BSP) reported late Tuesday, as the local currency gained traction against the dollar. Data from the Central Bank showed the country’s BOP—or the summary of the country’s transactions with the rest of the world— started 2019 with $2.704 billion in surplus. This is a reversal of the deficit seen in end-2018, which was at $2.306 billion. It is also better than the $531-million deficit seen in the same month last year. The BSP attributed the surplus to better conditions in the Central Bank’s investments income during the month. “Inf lows in Janu ar y 2019

stemmed mainly from the national government’s [NG] net foreign currency deposits, BSP’s foreignexchange operations and income from its investments abroad,” the BSP said in a statement. “The net inf lows in foreign portfolio investments [net BSPregistered transactions based on custodian banks’ reports] contributed partly to the BOP surplus recorded in January 2019,” it added. T he p eso g a i ne d t r ac t ion against the dollar during the month, with its average trade hitting 52.4679 against the dollar, appreciating by about a fifth of a peso against the 2018 average of 52.6614 to a dollar. The BSP said the surplus during the period could have been higher, if not for offsetting factors during the period. These offsetting factors were payments made by the national government for its foreign exchange obligations during the month in review.

n JAPAN 0.4733 n UK 67.6860 n HK 6.6700 n CHINA 7.7346 n SINGAPORE 38.5961 n AUSTRALIA 37.3317 n EU 59.2272 n SAUDI ARABIA 13.9581

Source: BSP (19 February 2019 )

A2 Wednesday, February 20, 2019

News

BusinessMirror

SC upholds constitutionality of 3rd martial-law extension

By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court on Tuesday upheld the constitutionality of President Duterte’s Proclamation 216, which extended for the third time the imposition of martial law and the suspension of the privilege of the writ of habeas corpus in the entire Mindanao region until the end of the year. At a press briefing, the court’s Public Information Office chief, lawyer Brian Keith Hosaka, said the decision was reached at Tuesday’s regular en banc session of the 15man High Tribunal. Hosaka said nine members of the Court voted to throw out consolidated petitions seeking to declare as unconstitutional the third martial-law extension in Mindanao, while four voted in favor of the petitions. “The Supreme Court ruled to uphold the constitutionality of the extension of the declaration of martial law and the suspension of the privilege of writ of habeas corpus in Mindanao until December 31, 2019,” Hosaka said. The Court issued the ruling less than a month after it heard oral arguments on

the consolidated petitions. The nine Justices who declared as constitutional the third martial-law extension were Chief Justice Lucas Bersamin and Associate Justices Diosdado Peralta, Mariano del Castillo, Estela Perlas-Bernabe, Andres Reyes Jr., Alexander Gesmundo, Jose Reyes Jr., Ramon Paul Hernando and Rosmari Carandang. Carandang, the newest member of the SC—having been appointed to the post by Duterte on November 26, 2018, to take the position of Teresita Leonardo de Castro after her appointment as chief justice—was the one who penned the decision. Those who dissented were Senior Associate Justice Antonio Carpio and Associate Justices Mar-

vic Leonen, Francis Jardeleza and Alfredo Benjamin Caguioa. The four petitions were filed by lawmakers led by Albay Rep. Edcel Lagman, the militant partylist lawmakers led by Bayan Muna Party-list Rep. Carlos Isagani Zarate, the group led by former Commission on Elections Chairman Christian Monsod, and that of Mindanao lumad assisted by the Free Legal Assistance Group. The petitioners argued that the extension of martial law is unconstitutional as it failed to satisfy the public safety requirement under the 1987 Constitution. They noted that a review of the President’s letter to Congress seeking a third extension of martial law in Mindanao showed the absence of vital facts proving that public safety has been seriously threatened as to require the continued implementation of martial law and the suspension of the writ of habeas corpus. Furthermore, the petitioners claimed that Congress failed to exercise its power and duty to check the martial-law powers of Duterte. The Mindanao region was first placed under martial law by the President in May 2017 to flush out terrorists belonging to the Daeshinspired Maute Group who took over several barangays in Marawi City. The siege ended with the killing

of Abu Sayyaf leader Isnilon Hapilon and Maute group leader Omar Maute five months after. The implementation of martial law was first extended by Congress for the period from July 22 to December 31, 2017; and the second was from January 1, 2018, to December 31, 2018. Last December 12, the Congress voted 235-28 with one abstention to re-extend martial law in the region up to the end of 2019. In justifying the new martiallaw extension, Solicitor General Jose Calida cited the Armed Forces of the Philippines’s end-of-firstsemester data, which showed that terrorist groups are still active in the region. Calida noted that the Abu Sayyaf Group (ASG) still has as a total of 424 members with 473 firearms who are scattered in 138 barangays in Basilan, Sulu, Tawi-Tawi and Zamboanga. On the other hand, the Bangsamoro Islamic Freedom Fighters has 264 members with 254 firearms and affecting 50 barangays. The Daesh-inspired Maute, Maguid and Turaifie groups have at least 150 members with various firearms. The report said they are scattered in at least 204 barangays in Mindanao. Calida also noted that the NPA continues to rise publicly and take up arms against the government.

Port operator, shipping lines move on congestion Continued from A1

ATI Executive Vice President William Khoury noted that other major shipping lines may join the initiative in the near future. “The idea is that after cargo discharge, the vessels docked at the port will load empty containers, regardless of which shipping line owns such container,” he added. “Today we have come together as one port community, showing that we are committed to improving trade flows for our customers and for the benefit of

the entire economy.” Doing so will greatly improve the entire container recirculation process, fast-track truck turnaround time and ultimately bring port operations to optimum levels, the initiative’s participants explained. The industry, over the past few weeks, has seen a high inventory of empty containers, which hampers normal truck cycles. The situation has also adversely impacted port efficiency levels. University of Asia and the Pacific economist Victor A. Abola

earlier said that because of the effects of the port congestion, the Philippines can expect slower export earning and import bill growth. Congestion, particularly at the Port of Manila, has also been cited by German firm Hapag-Lloyd as the reason it has “ceased acceptance for all reefer cargo to Manila, for both North and South Harbor.” The notice also cited “limited trucking capacity” as another reason for the stoppage of reefer imports to Manila. The notice was

HOUSE WANTS OVERSIGHT PANEL FOR RICE TARIFF LAW; HEARINGS SET ON DRAFT I.R.R. Continued from A1

The implementation of the law is expected to reduce the price of rice, an important commodity for the poor. Panganiban also said “due care” should be applied in writing the law’s IRR so that its primary goals are met. He urged the government to ensure that the “safety net for local farmers” in the form of a fund supposed to be set aside to improve the rice sector is used properly. “The P10-billion Rice Competitiveness Enhancement Fund was included in the law as a safety net—to protect our own farmers and enable them to become more competitive,” said Panganiban.

Draft IRR SOCIOECONOMIC Planning Secretary Ernesto M. Pernia said the draft IRR of the rice tariffication law will be submitted for public consultation “in the coming days.” The first draft of the IRR formulated during a two-day workshop last week was presented to the National Food Authority (NFA) Council on February 18, 2019. The revised IRR will be the one subjected to public consultation. In anticipation of the signing of the bill, Pernia said government agencies started preparing for its implementation as early as January. Technical working groups were created to discuss key

provisions of the bill and provide inputs to the draft IRR. The IRR Drafting Committee has members from the Neda, Department of Budget and Management, Department of Agriculture (DA) and other concerned government agencies. The draft IRR contains provisions on the removal of NFA’s regulatory powers and the streamlining of import requirements. It also provides details on the necessary institutional arrangements that will enhance competitiveness and institute safety nets to assist local farmers affected by the removal of the QR on rice imports. “Anyone, whether a small or a big trader, can now import as long as they have secured a sanitary phytosanitary clearance from the DA and pay the corresponding tariff. By removing NFA’s decades-old monopoly on rice importation, we promote greater participation of the private sector and enhance competition in the market,” Pernia said in a statement. President Duterte signed the Rice Tariffication Act on February 14. It amended the 20-year old Agricultural Tariffication Act of 1996 and replaced the quantitative restrictions (QR) on rice imports with a tariff. The law also provided safeguards to address the concerns of farmers. These include RCEF, which will provide key interventions to support farmers and enhance their competitiveness and profitability, including

farm machinery and equipment to improve farm operations rice seed development, propagation, and promotion, expanded rice credit and extension services. A portion of the rice tariff revenues in excess of P10 billion will be used to provide direct financial assistance to rice farmers affected by the removal of the QR and for diversification to high-value crops. A mandatory review of the RCEF will be conducted by Congress on the sixth year. Pernia said the law also grants the President the power to increase, reduce, revise or adjust existing tariff rates to safeguard Filipino farmers. In case of imminent danger of rice shortage, the bill empowers the President, for a limited period and for a specified volume, to allow importation at lower tariff rates for the benefit of consumers. The law enables the President to increase the applied tariff to more than 100 percent, but not to exceed the specified bound rate, if warranted. The bound rate in the newly signed law is 180 percent. Pernia said a special safeguard duty on rice will be imposed to protect the rice industry from sudden or extreme price fluctuations. A safeguard duty is a temporary increase in import duty of an agricultural product to deal with import surges or price falls, under the World Trade Organization Agreement on Agriculture.

posted in its web site in January 23 and was said to be effective immediately. “Yes, [there was] severe port congestion. Plus street traffic. Container trucks can make less trips to port and back. Some cargo [are] waiting three weeks in port,” Abola said. In 2014, a study released by state-owned think tank Philippine Institute of Development Studies estimated that the economy lost P43.85 billion due to port congestion. With a report by Cai U. Ordinario

www.businessmirror.com.ph

Duterte signs law creating Department of Human Settlements and Urban Devt By Bernadette D. Nicolas

@BNicolasBM

R E SI DEN T D ute r te signed into law the creation of the new Department of Human Settlements and Urban Development, which seeks to consolidate all shelter agencies to address the huge housing backlog in the country. Under Republic Act (R A) 11201 signed by the President last Thursday, the new department is a consolidation of the Housing and Urban Development Coordinating Council and the Housing and Land Use Regulator y Board (HLURB). The new department shall act as the primary national government entity responsible for the management of housing, human settlement and urban development. It shall also be the sole and main planning and policy-making, regulatory, program coordination and performance monitoring entity for all housing, human settlement and urban development concerns, primarily focusing on the access and the affordability of the basic human needs. The department shall also develop and adopt a national strategy to immediately address the provision of adequate and affordable housing to all Filipinos and shall ensure the alignment of the policies, programs and projects of all of its attached agencies to facilitate the achievement of this objective. Moreover, the law also reconstitutes the HLUR B into an adjudicatory body called Human Settlements Adjudication Commission, with jurisdiction over all the cases decided by regional adjudicators and the ap-

peals from decisions of local and regional planning and zoning bodies. The law also stipulates that the department shall also exercise administrative supervision over the National Housing Authority, National Home Mortgage Finance Corp. and Social Housing Finance Corp.

Mobile Number Portability Act, Special Protection on Children

THE President also signed into law the Mobile Number Portability Act and the Special Protection on Children in situations of Armed Conflict. Signed by the President on February 8, Republic Act 11202 seeks to allow mobile phone subscribers to retain— for free— their mobile number even if they switch from one network to another. Moreover, the law removes t he interconnect ion fees charged to subscribers when calling or texting across different networks. Mobile-service providers found violating the law will be fined by the National Telecommunications Commission of up to a maximum of P1 million if they fail to implement mobile network portability for the fifth and subsequent instances. Meanwhile, RA 11188 or special protection on children law was also signed by the President on January 10, said a belated advisory from the Palace. This seeks to “extend protection to children on situations of armed conflict from forms of abuse, violence, neglect, cruelty, discrimination and other conditions prejudicial to their development.“ The state is also mandated to take all feasible measures to prevent the recruitment and use of children in armed conflict.

Premium payments for OFWs’ membership Auto industry. . . in SSS up for debate Continued from A1

Sales of light trucks in January expanded to 512 units from 386 units. Trucks and buses at category 4 sold during the period grew to 332 units and 299 units, respectively. Toyota Motors Philippines Corp. (TMP) is still the strongest player with a market share of 42.23 percent, but its sales declined 14.1 percent to 11,355 units in January from 13,217 units during the same month last year. Mitsubishi Motors Philippines Corp. came in second with a market share of 19.48 percent, followed by Nissan Philippines Inc. at 11.53 percent, Honda Cars Philippines Inc. at 7.23 percent and Ford Motor Co. Philippines Inc. at 6.66 percent. Nissan was the only leading firm that recorded an increase in sales in January. Car sales were down 16 percent last year on the back of double-digit declines in most auto segments. Local carmakers, however, are anticipating sales to grow 10 percent this year. In January they said the improving GDP per capita and the introduction of new models, coupled with a strong economy, will result in higher sales. In an interview with reporters on Monday, TMP President Satoru Suzuki said vehicle sales will most likely recover in the second half of the year. Suzuki said the projected easing of inflation will mean better purchasing power for consumers and this could boost demand for cars.

Elijah Felice E. Rosales

By Samuel P. Medenilla

@sam_medenilla

REMIUM payments for the mandatory membership of land-based overseas Filipino workers (OFW) will be among the contentious issues to be resolved in the first public consultation for the guidelines for the newly signed Republic Act (RA) 11199 next month. At the initial stakeholder meeting organized by the Department of Labor and Employment (DOLE) for RA 11199 on Tuesday, representatives from both OFW advocate groups and recruitment agencies declared their unanimous support for the mandatory Social Security System (SSS) coverage for OFWs. However, they also jointly expressed their opposition to the SSS proposal to charge the initial minimum contribution of P960 to OFWs before they are deployed abroad. Blas F. Ople Policy Center head Susan Ople said imposing additional predeparture charges on aspiring OFWs might just encourage many of them to use illegal channels. Estrelita S. Hizon, the privatesector representative at the Philippine Overseas Employment Administration Governing Board, aired a similar concern. “We are not against OFWs becoming members of the SSS. What we are opposing is making it part of

the requirement for an OEC [Overseas Employment Certificate],” Hizon said. “This will be a great injustice to the OFWs, and it defeats the purpose of SSS to help them,” she added. An OEC is a requirement of POEA before it allows an OFW to work abroad. POEA Administrator Bernard B. Olalia assured the public they currently have no such regulation, since OEC conditions are contained in a separate regulation. However, he did admit this might be revised under the implementing rules and regulations (IRR) of RA 11199. SSS Acting Vice President for Asia Joy A. Villacorta said the initial schedule for the official public consultation for the IRR is on March 3. She said they may conduct another consultation due to recommendations from stakeholders for the SSS to conduct separate consultations for local and overseas provisions of RA 11199. Labor Secretary Silvestre H. Bello III said representatives from DOLE and DFA will participate in the consultation to ensure the IRR will have no detrimental impact on the welfare of OFWs. “What is important is for us not to make it hard for OFWs because the role of the [SSS] law is to help OFWs by giving them compulsory SSS coverage,” Bello said.

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Wednesday, February 20, 2019 A3

NFA assets may be sold to pay ₧145-B debts

By Bernadette D. Nicolas

@BNicolasBM

HE Department of Finance (DOF) is looking into selling some of the assets of state-run National Food Authority (NFA) to cover part of the agency’s debt, which has already ballooned to P145 billion. Finance Assistant Secretary Antonio Joselito G. Lambino II told the BusinessMirror on Tuesday that the assets that may be sold are those that are no longer necessary to the

food agency’s buffer stocking role. “NFA has assets which should be carefully examined. What among those assets are still necessary under the emergency buffer stocking

role and what may be not necessary anymore? So those that are considered not necessary anymore can be considered to pay those debts,” Lambino said in a mix of English and Filipino. The “buy high, sell low” policy of the government to ensure food security and stabilize rice prices— which are mandates of the NFA— has caused the food agency to incur debts. While the DOF has yet come up with their estimates on how much the government can get from selling some of NFA’s assets, Lambino said the value of the assets that may be sold may not reach P145 billion. The food agency has assets all over the

“NFA has assets which should be carefully examined. What among those assets are still necessary under the emergency buffer stocking role and what may be not necessary anymore? So those that are considered not necessary anymore can be considered to pay those debts.”—Lambino

Philippines, including warehouses. However, Lambino said the government will have to make sure that the buffer stocking role function of NFA is fulfilled before determin-

ing which assets should be sold or retained. Aside from selling NFA’s assets, Lambino said the national government will have to figure out other measures that should be implemented during meetings with the NFA and the Governance Commission for Government-Owned and -Controlled Corporations (GCG). Given the debt problem of the agency, Budget Secretary Benjamin E. Diokno said the GCG will also make an assessment of the separation pay and pension of workers that may be displaced by the NFA’s restructuring. “If the agency does not have enough corporate funds, it will

eventually have to run to the national government for assistance,” Diokno told the BusinessMirror via SMS. This comes after the NFA Council has approved a motion instructing the food agency 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 March 5. According to the DOF, the meeting was called to immediately discuss the Implementing Rules and Regulations of RA 11203, or the Rice Tariffication Act, following its signing into law by President Duterte on February 14.

IC hails ruling vs CIC demand for data on policy loans DFA chief shares new take By Rea Cu

@ReaCuBM

HE Insurance Commission (IC) has welcomed the ruling of the Makati Regional Trial Court nullifying a circular issued by the Credit Information Corp. (CIC) requiring insurers to submit the premium payments, insurance contracts and policy loans of its clients. In a statement on Tuesday, Insurance Commissioner Dennis B. Funa said the decision of the Makati RTC affirms the IC’s position that insurance contracts, premium payments and policy loans are not basic credit data and do not have anything to do with a person’s credit standing. “The decision of the Makati RTC supports our stance that policy loans should not be treated as reportable credit transactions under the Credit Information System Act [Cisa]. For the past three years, this Commission has been trying to explain and convince the CIC that policy loans, as one of the benefits of an insurance contract, are not credit data that are required to be reported under the Cisa. However, all our arguments have fallen on

deaf ears,” Funa said. On January 4, Makati RTC Branch 56 decided to nullify CIC Circular Letter 2017-04, which requires insurance companies to submit the premium payments, insurance contracts and policy loans of its clients. The Makati RTC was acting on the Petition for Declaratory Relief filed by the Philippine Life Insurance Association Inc. (PLIA) in line with the requirements under the CIC circular letter. “The CIC dismissed all our arguments by simply invoking that the same are bereft of probative value in relation to the coverage of the Cisa. It was at this instance that the PLIA was forced to elevate the issue before the court,” he added. The court declared that premium payments, insurance contracts and policy loans are not within the ambit of basic credit data required to be submitted under Republic Act (RA) 9510 or the Cisa, as it does not pertain to a borrower’s performance on a loan, credit line, guarantee or any other form of financial accommodation. In its decision, Judge Bonifacio S.

Pascual pointed out that, for an information to constitute basic credit required to be submitted to the CIC under RA 9510, the information must be either positive credit information or negative credit information. “For this reason, it is apparent that for information to be submitted to the respondent, the basic credit data must be either positive or negative. This is an unconditional prerequisite of the law, as the objective of RA 9150 is to create a credit information system that will directly address the need for reliable credit information concerning the credit standing and track records of borrowers,” the decision of the Makati RTC said. In ruling that policy loans, premium payments and insurance contracts do not reflect the insured’s creditworthiness, the court emphasized PLIA’s arguments that policy loans are in the nature of advances against the policy benefit fund that is earned as payments are made on the policy through the years. “...taking out a policy loan may or may not reflect a need for cash by the policyholder. Availing of the same is the sole option of the policyholder as it is a benefit feature of the insurance

policy granted to him by law. He may use it any which way and whenever he wants to. That is not an indication of risky behavior. On the contrary, the policyholder may use the same so that he does not need to apply for a loan from somebody else. He may even just invest it to allow higher yields,” Plia said. The court also ruled against the CIC’s argument that the submission of policy loans, premium payments, and insurance contracts does not constitute violation of the Data Privacy Act (DPA) as it is expressly excluded from its coverage. “The main issue is that insurance policy loans have nothing to do with one’s credit standing,” Funa said. The Credit Information Corp., headed by its President and CEO Jaime P. Garchitorena, was created in 2008 in line with RA 9510, which is mandated to collect credit information for the establishment of a comprehensive credit information database. Under RA 9510, banks, insurance companies, and credit card companies, among others, are required to submit basic credit data to the CIC on a regular basis.

B.I.R.’S 2019 THEME The Bureau of Internal Revenue recently launched its theme for 2019, “Para sa Inyo, Maging Tapat Tayo, Serbisyong Tapat, Buwis na Sapat.” One such launch was led by Revenue District Officer Rufo Ranario (seated, fourth from left), Assistant RDO Cynthia Lobo and staff at BIR RDO 43 in Pasig City.

RUDY ESPERAS

Govt asked: After Duterte, will infra projects go on? Continued from A1

to continue it. This is at least to mandate the relevant agencies [to complete public works] for continuity,” Barba explained. The Build, Build, Build program is the present leadership’s center piece prog ra m for t he economy intended to fill in the infrastructure backlog of the Philippines. The government will spend P8.4 trillion until 2022 for various big-ticket public infrastructure, including 75 flagship projects. In the process, this will push up

the ratio of infrastructure to GDP to 7.4 percent by the end of the President’s term. W hether or not the Build, Build, Build program will be legislated, industry players are expecting construction spending to sum up to P40 trillion or even as much as P130 trillion from 2019 to 2030. Philippine Constructors Association Inc. Executive Director Barry G. Paulino told reporters this can be hit as long as the government keeps its momentum on infrastructure buildup. He also

said crafting a comprehensive infrastructure plan that will last for at least 10 years will give constructors the needed boost to hit this spending target. Under the road map, the construction industry is looking at growing its employment—now at 4 million strong—or 9.5 percent of the total Philippine work force last year. “I think [the current labor force of the industry] is at 4 million. Hopefully, we will be able to increase employment by 10 percent or even 20 percent [over the dura-

tion of 10 years],” Barba said. The trade official added the industry’s optimism is at a high on the back of strong demands in the real estate and tourism sectors. “The demand for residential houses is still strong. On the tourism side, admittedly there is a lack of hotels. We need more of them. That is one of the reasons our country is lagging behind tourist arrivals, because other nations have cheaper hotel fees. Why? Because they have more hotels,” Barba explained.

on PHL foreign policy By Recto Mercene @rectomercene

OREIGN Affairs Secretary Teodoro L. Locsin Jr. has summed up the government’s updated foreign policy—early on described by President Duterte as an “independent” one. The updated foreign policy, said the country’s top diplomat, is “Friend to friends, enemy to enemies, and a worse enemy to false friends.” In a lecture at the inauguration of the New Chancery of the Philippine Embassy in Berlin on Monday, February 18, the c ountry’s top diplomat added, “But the key is telling the difference; that is a work in progress that is never finished.” Locsin said this updates the Duterte administration’s previously stated foreign policy: “Friend to all, enemy to none.” The Department of Foreign Affairs (DFA) chief elaborated: “In my watch we have moved on from that trusting attitude in the changing realities that increasingly resemble the interwar years in Europe.” The former three-term Makati City legislator had said in his first address on the country’s foreign policy upon assumption of office that,“a truly independent foreign policy should be pursued.” The former journalist and presidential speechwriter and legal counsel had said, “It is not independent foreign policy if you simply switch the master before whom you are kneeling. You are still on your knees before another master. An independent foreign policy means getting off your knees and on your feet—and standing up for your country. That is true independence.” Locsin’s updated foreign policy addresses the fears expressed by some diplomats, including critics, that President Duterte had gone too soft on China and had ignored the favorable July 2016 ruling of a UN arbitral tribunal before which Manila had filed a claim against China’s “excessive” claims in the South China Sea. Manila had asserted its right over disputed shoals and maritime features in the West Philippine Sea. The critics had claimed the Duterte administration had bartered its sovereignty for financial considerations, referring to the Chinese promise of soft loans to finance the President’s ambitious infrastructure program. However, Locsin pointed out, the country was able to manage its disagreements with China over maritime features “recognized as ours by international law.” He then added, “But we do so without retreating an inch from our rightful and inalienable ownership of everything within the widest extent of our sovereign reach in history and international law.” The Harvard-trained lawyer also noted there are continuing disputes and differences regarding the South China Sea, not only with China but with Vietnam and Taiwan.He said one must expect more disputes, which are inevitable in politics among nations. He said these disputes may settle themselves with time or they may never be resolved, like the Philippine claim to Sabah. Still, he said, “these differences need not stand in the way of mutually beneficial cooperation in other areas of common endeavor.”

According to Locsin—previously posted as the country’s ambassador to the United Nations—he got brilliant advice “on a tightrope-walking foreign policy from the Kazahkstan UN Ambassador [Kairat] Umarov,” whose neighboring “Tans” are menaced by Russia and China. “I said; what do you do about that, and what should we do?” apparently referring to the country’s dilemma in maintaining a fine balance between a longtime ally, the United States, and an economically and militarily growing China. Locsin recalled that Umarov replied: “What should you do if a bear is running toward you? Do you run? It will overtake you and maul you, exasperated because you made it run. Do you stand and fight? It will maul you worse for your insolence. What you do is run toward the bear. And hug it tight. Of course it can crush you against its chest. But it will not if you hug it really tight—and dance with it.”

‘No debt trap’ The DFA chief, likewise, addressed fears raised in some quarters that China was plying the Philippines with loans at notso-concessionary terms for ill-conceived projects and the country might suffer the same fate as Sri Lanka or Ecuador which got stuck with white elephants and humongous loans. “We have no fear of a Chinese debt trap,” Locsin boldly announced; “we survived the far worse debt trap of the New York banks and the WB/IMF.” He said the West went into paroxysms of ecstasy over the 1986 People Power Revolution—which was a rebuke to communism as a way forward. Yet, he added, it did not put its money where its mouth was by supporting the restored democracy with vital financial support. He said our new democracy was threatened with financial destruction—if it did not pay every dollar of our foreign debt, “lent by Western banks to the dictatorship which stole every cent of it; and then deposited quite a lot of it in Western banks.” Locsin mused, “It seems that the victory of democracy is good for a Western pat on the back; but not good enough for debt forgiveness.”

Peace in region ON the other hand, he pointed out, the Philippines in the Association of Asian Nations keeps the peace in the region. “We outlawed nuclear weapons and signed on to the UN universal prohibition of nuclear weapons.” He said the Philippine Republic is a story of unceasing struggle for independence: “to gain it, to keep it; to regain it when lost; and expand its freedom of action and scope.” Locsin added: “Following independence, the struggle continued as a striving for an independent foreign policy.” Reviewing a bit of history, he said the country beat the Spaniards (with) help from America; and then fought the Americans in the first of the bloody Asian wars of liberation, prefiguring Vietnam. “The first though short-lived Republic in Asia, the Philippines was the model for freedom struggles in half the world— Chinese, Indochinese, Malays and Indonesians were inspired by it and adopted our heroes as their own.”

A4 Wednesday, February 20, 2019

BusinessMirror

www.businessmirror.com.ph

www.businessmirror.com.ph | Editor: Vittorio V. Vitug

SOLON PUSHES TRANSPARENCY IN IMPLEMENTATION OF RICE TARIFFICATION LAW By Jovee Marie N. dela Cruz @joveemarie

LAWMAKER on Tuesday called for full transparency in the implementation of Rice Tariffication Act, or Republic Act (RA) 11203, by disclosing the identities of all rice importers. Deputy Majority Leader Ron Salo of Kabayan party-list, a principal author of the new law, asked the Departments of Finance (DOF) and Agriculture to fully disclose the identities of each and every rice importer under the new system. Salo, a member of the bicameral conference committee that finalized the Revised Agricultural Tariffication, said transparency in the implementation will help determine rice supply sufficiency and price fairness. “I call for transparency. Every authorized rice importer, the rice quantities, origin, prices, import duties paid, freight forwarders, and location of all rice warehouses should always be fully disclosed to the public,” said Salo. “ The finance depar tment and the Depar tment of Agriculture can do this through their official web sites and socialmedia accounts. This level of disclosure can be included in the implementing rules and be part of their regular briefings to the media,” he added. According to Salo, the disclosed information will aid the general public, the rice farmers in determining the sufficiency of rice supply, the fairness of selling prices, and compliance with the rice tariffication law. He said transparency shall also assist the Bureau of Customs in determining the correct duties that must be paid. “The Department of Finance and the Department of Agriculture can also seize this opportunity to work with the financial markets on finally establishing the longdelayed plans of the DA on having an agricultural commodities market similar to the Wholesale Electricity Spot Market or WESM,” Salo said.

Catastrophe

AS peasant groups continue to protest the recently enacted rice tariffication law, Anakpawis Party-list Rep. Ariel Casilao warned that the said the newly enacted law would cause a catastrophe to the agriculture sector and even to the national economy. “The law will literally smash down the country’s value of palay production t h at re a c h e d l a s t ye a r to more than P350 billion to P380 billion, and it is

synonymous to the evaporation of sources of income to millions of farmers and other stakeholders in the country,” he said in a news statement. Casilao also belittled the “pointless excuse” of the Duterte administration that the law had safety nets for local farmers such as the Rice Competitiveness Enhancement Fund (RCEF) at P10 billion annually. On March 5, 15 days after President Duterte’s signing of the law and the supposed date of its publication, the lawmaker vowed to file a bill for its repeal. For their par t, ACT Teachers Reps. Antonio Tinio and France Castro said that the tariffication law will abandon 3.6 million rice farmers and rice farm workers and their families through heavy importation of the primary agricultural product and staple food. “The enactment of the rice tariffication law will be another broken promise by the Duterte administration as this measure will only worsen poverty and hunger and will only cater monopoly traders whose primary mission in life is to profit,” Tinio said. Castro said “the Rice Tariffication Act was the Duterte administration’s purported solution to the record high inflation rates in the country. [But] this measure unfortunately will not solve the continuing rice crisis and high inflation and will only lead to bigger and more problems in the future for our fellow Filipinos especially rice farmers and workers.”

Clarification on tariff implementation date

T H E D O F, m e a nw h i l e, h a s c l a r i f i e d t h at the implementation of tariffs on rice i m p o r t s w i l l b e g i n o n M a rc h 5 , i n s te a d o f M a rc h 3 , a s p ro v i d e d u n d e r t h e r i c e t a r i f f i c a t i o n l aw. The DOF issued the clarification after it repor ted on Monday that the implementation of the tariffs on rice imports, in line with the signing of RA 11203 by President D uter te over the weekend, would start on March 3. The National Food Authority Council on Monday held a meeting at the DOF headquarters to immediately discuss the implementing rules and regulations (of RA 11203, or the Rice Tariffication Act, following the signing of the law by the President. “It’s March 5. The provisions of the law are pretty clear,” said Finance Secretary Carlos G. Dominguez III in a text message to financial reporters.

S.B.M.A. GRANTS P4.9 MILLION WORTH OF COMMUNITY FACILITIES TO AETA TRIBE

AETA elder Bonifacio Florentino receives the symbolic key of the Pastolan Health Clinic from Subic Bay Metropolitan Authority Chairman and Administrator Wilma T. Eisma. PHOTO COURTESY OF SBMA

UBIC BAY FREEPORT—Some P4.9 million worth of community facilities were awarded to the Pastolan Ayta Tribe by the Subic Bay Metropolitan Authority (SBMA). Among the facilities that were given to the Aetas are a school building and a health clinic which form part of SBMA’s commitment in promoting the welfare of the indigenous community in this free port. “The health clinic is expected to serve the

330 families living in the Aeta village, whereas the school building will be used by Grades 4 to 6 students who used to share one classroom,”SBMA Chairman and Administrator Wilma T. Eisma said. “This is a commitment under a Joint Management Agreement signed by the SBMA, Aeta Tribe and the National Commission on Indigenous Peoples [NCIP] that will provide compensation for the use of the Aeta ancestral domain,” Eisma added. Ashley Manabat

Economy BusinessMirror

@jearcalas

HE use of modern farming technology, such as fertigation and solar-powered irrigation system (SPIS), could allow farmers to double their produce and earn more profits, the Department of Agriculture (DA) said. Agriculture Secretary Emmanuel F. Piñol said the agency is set to commission a 10-hectare corn demonstration farm that uses fertigation and drip irrigation technology that uses SPIS in Dangcagan, Bukidnon, next month.

Duterte signs EO mandating second phase of land distribution to farmers By Jonathan L. Mayuga @jonlmayuga

& Bernadette D. Nicolas

@BNicolasBM

RESIDENT Duterte has signed Executive Order 75, which mandates the distribution of government-owned lands under the second phase of the agrarian reform program. A source privy to the signing of the new order confirmed to the BusinessMirror that the order will soon be uploaded in the Official Gazette. The Office of the Executive Secretary and the Malacañang Records Office confirmed to the BusinessMirror that President Duterte has indeed signed the new EO but no copy is available for release as of press time. Agrarian Reform Secretary John R. Castriciones earlier said the order will pave the way for the distribution of government-owned agricultural lands that were supposed to have been distributed under the Comprehensive Agrarian Reform Program (CARP). No less than Castriciones expressed excitement on the prospect of the signing of the EO even as he affirmed President Duterte’s commitment to distributing land to landless farmers. In ea rl ier i nter v iews, t he De pa r t ment of A g ra r i a n R efor m (DA R) Undersec ret a r y for L ega l A f f a i r s L u i s Me i n r ado C . Pa n g u l aya n sa id t he d ist r ibut ion of gover n ment- ow ned l a nd s u nder t he D uter te ad m i n ist rat ion w i l l ent a i l a cost of at lea st P10 bi ll ion on top of t he a n nu a l budget

of t he agenc y u nder t he Genera l Appropr i at ions A c t (GA A). Pangulayan said the proposed budget will ensure the distribution of vast tracts of government-owned lands to qualified farmer-beneficiaries under what CARP Phase 2 or second phase of CARP. Pangulayan said then that a preliminary list of government-owned lands being eyed for distribution includes the 9,000 -hectare Yu lo King Ranch in Busuanga, Palawan; a 5,000-hectare land of the University of Southern Mindanao; the 5,200-hectare Davao Penal Colony; and a 100-hectare land of the Aurora State College of Technology. Once signed by the President, officials of the DAR can now place the said lands, including all other government lands that qualify as agricultural land, under CARP. The policy aims to accelerate and ensure the immediate identification and segregation of all unclassified lands of public domain and all lands owned by the government or by any of its agencies and instrumentalities by the government or any government agencies suitable for agriculture. The EO mandates all concerned government agencies, particularly the DENR, to relinquish authority over t hese lands for immed iate distribution. T he Duter te administration’s agrarian reform program or C ARP 2 is anchored on the state policy to implement agrarian reform, citing A rticle X III Section 4 of the 1987 Philippine Constitution. Article XII Section 6, provides that

MSMEs GET BOOST FROM SENATE BILL By Butch Fernandez @butchfBM

ONTINUED financial support has been assured for micro, small and medium-scale enterprises (MSMEs) producing locally made products all over the country under a bill filed in the Senate. Filed by Sen. Grace Poe, Senate Bill (SB) 2049, to be known as “An Act Establishing the Suporta Para sa Produktong Pilipino Program,” the bill provides a minimum P10,000 outright grant to MSMEs, which primarily operates within the city or municipality. Citing the 1987 Constitution, Poe pointed out social justice could not be achieved without the creation of new economic opportunities in the countryside, particularly in far-flung and isolated areas. “The state recognizes that social justice cannot be achieved without the creation of economic opportunities and the development of businesses and enterprises in the countryside, particularly in far-flung and geographically isolated and disadvantaged areas,” Poe’s bill stated. Once enacted into law, it mandates the government to put up a trust fund with a P50-million seed capital, the disbursement of which will be administered by the Department of Trade and Industry (DTI). Poe proposes to “institutionalize the stimulus program” of the government for MSMEs by tapping all cities and municipalities to promote a particular product or finished good which is an established, associated and well-known product of their jurisdiction.” SB 2049 provides that, in order to be eligible for the said program, businesses and enterprises must first provide documentary evidence attesting they have been operating within the concerned city or municipality for at least three years and have been producing the identified finished good for the same period. Moreover, Poe’s bill further provides that no business or enterprise shall avail themselves of such benefit more than once a year. The remedial legislation will also mandate the DTI to put up regular trade fairs and bazaars where the eligible businesses and enterprises covered by the proposed law can promote their finished goods to potential investors, as well as consumers. “This bill aims to breathe life into the Constitutional provisions by establishing a Suporta Para sa Produktong Pilipino Program, Poe said, referring to the declared state policy to establish programs that will provide financial incentives for local enterprises in the country. The senator pointed out that “the concept of social justice is imbued throughout the 1987 Constitution, noting that, “in fact, an entire article is dedicated to the elaboration of this concept.”

D.A. CHIEF URGES TECHNOLOGY SHIFT TO RAISE FARMERS’ YIELD By Jasper Emmanuel Y. Arcalas

Wednesday, February 20, 2019

The DA spent P3.5 million in establishing the SPIS at its Upland Agriculture Research Center in Dangcagan. The demo farm would serve as a model farm on how modern technologies could increase corn farmers’ output from 4 metric tons to 8 MT and allow them to have two croppings in a year, Piñol added. “The demonstration farm is part of the modernization program of the DA to increase farmers’ productivity through the use of advance agricultural technology,” he said in a post in his official Facebook page on Tuesday. Piñol said the demonstration farm would apply fertigation technology or the process wherein “soil and fertilizer will be applied by mixing these with

irrigation water in the reservoir.” The establishment of SPIS nationwide is one of the DA’s flagship programs to modernize agriculture and improve farmers’ productivity. Piñol said the DA would also establish demonstration farms using SPIS for sugarcane, cacao, coffee, coconut, bulb onion and other high-value crops. At present, the SPIS are only applied in rice production in the country. To date, about 169 units of SPIS have either been completed or under construction in the country, which could now cover at least 2,000 hectares of rice farms, according to Piñol.

the State shall apply the principles of agrarian reform for stewardship, whenever applicable in accordance with law, in the disposition or utilization of other natural resources, including lands of the public domain under lease or concession suitable to agriculture. There are lands of the public domain that remain unclassified and are currently used for agricultural, or food production, or are suitable for agriculture. Some of these lands remain idle and can be made productive to alleviate poverty in rural areas. In explaining the process involved in distributing government-owned agricultural lands, Pangulayan cited EO 407 Series of 1990 and EO 448 Series of 1991, which were issued to accelerate the acquisition of lands of the public domain suitable to agriculture and their distribution under CARP. However, EO 407 requires the prior issuance of a deed of transfer, which impedes the process if the agency or instrumentality fails or delays the execution of the required legal instrument. Moreover, EO 448 Series of 1991 requires the DAR to determine the absence of public use of the said lands subject in coordination with the government agency or instrumentality, which delay the process if the agency or instrumentality is uncooperative. He noted then that sometimes, the heads of government agencies or institutions find a way to avoid CARP coverage, thus, the failure of the DAR to execute its distribution. In a related development, the Kilusang Magbubukid ng Pilipinas (KMP)

called on the DAR to scrap DAR Administrative Order (AO) 1 to stop the massive land conversion of prime agricultural lands in the country. DAR AO 1 streamlines the process of land-use conversion, which advocates of agrarian reform said, is the primary reason why vast tracts of agricultural land escaped CARP coverage. At a news conference last week, Castriciones announced the move to fast-track the approval or rejection of a land-use conversion application. Aside from the creation of the interagency special task force, the Duterte administration has also initially agreed to adopt “a whole-of-government approach” in the processing of applications. While DAR officials said that the DAR AO 1 is still “a work in progress, the DAR AO 1 work both ways—for the landowner and farmer-beneficiaries. Under the policy, even farmers who have not fully paid in full the amortization for their CARP-awarded land can apply for land-conversion, DAR Undersecretary for Policy, Planning and Research David D. Erro said. Republic Act 9700, or the CARP Extension with Reform provides for the use of CARP-awarded lands as loan collateral. “DAR AO 1 must go to the trash bin where it belongs. The DAR cannot simply act based on President Duterte’s whims and tantrums. It must give primal weight to the interest and welfare of farmers, our agriculture sector and the country’s food security,” Antonio Flores, secretary-general of KMP said in a news statement.

A6 Wednesday, February 20, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Protecting the P200-B hog-raising industry

ORK is popular in the Philippines, and this is evident in the many Filipino dishes that use it as ingredient. Lechon, for example, is usually the star of Filipino parties. Compared to beef, pork is a more affordable source of protein. The appetite of Filipinos for pork and other hog products has sustained the hog-raising industry that is now worth P200 billion. Of the total swine population of 12.7 million heads as of January 1, data from the Philippine Statistics Authority (PSA) showed that backyard farms accounted for 63.55 percent. PSA data on swine population showed that many local hog raisers are small-scale farmers. This is why the Department of Agriculture (DA) and its attached agency, the Bureau of Animal Industry (BAI), have appealed again and again to traders and Filipino consumers to help prevent the entry of African swine fever in the country. ASF is a dreaded hog disease that has ravaged farms in China and continues to threaten the livestock industry of some European countries. According to the World Organisation for Animal Health or the OIE, ASF is a severe viral disease affecting domestic and wild pigs and can be spread by live or dead pigs and pork products. The OIE said transmission can also occur via contaminated feed and fomites (nonliving objects) such as shoes, clothes, vehicles, knives and equipment due to the high environmental resistance of the ASF virus. Unfortunately, there is no approved vaccine against ASF, and affected hogs or wild boars are usually culled to prevent the spread of the virus. ASF can cause serious production and economic losses as seen in the experience of China, where the virus has ravaged hog farms and forced the government to cull thousands of affected animals. As of February 14, the OIE said 94 percent of the 6,024 animals killed were in Asia. China accounted for 4,776 losses, while Mongolia lost 896 animals. Europe also notified the OIE that it also incurred losses. Just recently, Taiwan’s Council of Agriculture confirmed that a sample of pork product from Vietnam tested positive for ASF. This prompted the Philippine government to ban Vietnamese pork and pork products. (See, “DA to ban pork, pork products from Vietnam over African Swine Fever,” in the BusinessMirror online February 18, 2019). The discovery of ASF in a pork product from Vietnam has caused government agencies, such as the BAI and the DA, to again seek the cooperation of consumers and traders to ensure that the virus will not enter the Philippines. The government has earlier rolled out precautionary measures, such as the installation of footbaths and strict monitoring of all shipments entering the country. The DA has also implemented blanket import bans on pork from countries struck by the deadly ASF. These measures are all aimed at protecting an industry that could be brought to its knees by the ASF. The majority of hog farmers are backyard raisers so an outbreak would be catastrophic. For sure, backyard raisers would not be able to immediately recover from an ASF outbreak. And while the government has a contingency plan in place to prevent the possible spread of ASF, it remains to be seen whether it has enough funds to bankroll the necessary interventions to help hog raisers in the event of an outbreak. For now, all the government can do is to step up its information campaign and intensify efforts to protect the country’s borders. We join the government in appealing to tourists and consumers to refrain from bringing in pork and meat products from ASF-affected countries. Hog raisers must also inform the government immediately if they observe anything out of the ordinary in their farms. A concerted effort is needed to ensure that a devastating animal disease such as the ASF will not bring the Philippine hog industry to its knees. Since 2005

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Teddy Locsin Jr.

FREE FIRE Continued from A1

HE fame of UN peacekeeping is multiplied by the glamor of arms but married to the opposite of war—a just peace that is war’s only noble purpose. This time soldiers are enlisted, not to perpetrate the horrors of war but stop them; not to inflict violence but invite violence on themselves rather than see violence inflicted on the defenseless. Always outnumbered, ever outgunned, UN peacekeepers walk into danger, not with camouflaged headgear for stealth but with easy to spot helmets of blue—the symbol of rescue and color of hope. The Philippines highly commends both the president of the General Assembly, H.E. Mrs. María Fernanda Espinosa Garcés, and Secretary-General H.E. António Guterres, together with all 123 Troop- and Police-Contributing Countries, for their leadership in strengthening UN peace operations through institutional reforms, clearer mandates, strategic partnerships and predictable financing. Mr. Chair, engaged in UN peacekeeping since 1963, the Philippines stays strongly committed to investing in peace. Filipino peacekeepers have taken part in 19 UN peacekeeping operations in Asia, the Middle East, South America and Africa. Our current Philippine policy on UN peacekeeping operations is “to allow deployment of Philippine military

and police troops and personnel, regardless of the Security Threat Level.” In the regional context, peacekeeping is one of the main elements of Asean political and security cooperation, to which it attaches great importance, as underscored in the Plan of Action to Implement the Joint Declaration on Comprehensive Partnership between the Asean and the United Nations. Allow me now to provide Philippine recommendations on key elements in this year’s C-34 report, employing the Action for Peacekeeping (A4P) initiative as lens under the five thematic issues on peacebuilding, performance, people, partnerships and politics: n On peacebuilding the Philippines reiterates its support for UN

The Philippines welcomes the 2019 Defense Ministerial Meeting in New York City to be held on March 29 and looks forward to renewing and updating its pledges which were committed at the 2017 Vancouver Defense Ministerial Meeting.

Security Council resolution 2282, and General Assembly resolutions 70/262 and 72/199 on the review of the peacebuilding architecture. They underscore “the importance of prioritizing prevention, addressing the root causes of conflict and devising long-term peacebuilding strategies, with adequate and sustainable financial resources, which are translated to concrete measures at the country level.” n On performance, the Philippines believes that success in peacekeeping operations must be measured by the mandate to protect civilians as the “core criterion of success,” with child protection and combating sexual exploitation and abuse (SEA) as key elements. Missions’ ability to protect is the standard by which UN peacekeeping is judged—affecting its legitimacy and credibility. Therefore, pre-deployment training (PDT) efforts must be tailored to countryspecific and context-specific challenges of protecting civilians with clear definitions of the responsibilities, opportunities and constraints that will be faced by peacekeepers in the field. We commend the UN Department of Peace Operations for

establishing a clear framework of performance standards and assessments based on regular performance evaluations of military units, including on command and control, protection of civilians, conduct and discipline, and training. Specifically, the new comprehensive performance assessment system promotes an objective assessment of whole-of-mission performance through data collection and analysis. The Philippines also supports calls by member-states to limit “national caveats” given by host states to the force commanders overseeing peacekeeping missions in order to respond effectively on complex situations on the ground. n On people, the Philippines puts equally high priority on ensuring the safety of peacekeepers, principally by enhancing the capacity of contributing countries and drawing lessons from their satisfactory experiences in the field. We commend the Cruz Report and the UN Secretariat’s action plan to address the strategic, fundamental and systemic gaps in UN peace operations. We also acknowledge that civil society—especially women and youth who are war’s easiest victims—contribute significantly to peace. n On partnerships, the Philippines reiterates its support for intergovernmental platforms that enable peer learning among member-states on how to build resilience in peacekeeping and encourage constructive dialogues on the challenges in sustaining peace while pursuing strategic partnerships. We support the See “Locsin,” A7

Public should not patronize ‘peryahan ng bayan’ of Globaltech

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace

Online Editor Social Media Editor

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

Saving civilians–The UN peacekeeping mandate, in case we’ve forgotten

Florante S. Solmerin

FACT IS MIGHT!

HE Philippine Charity Sweepstakes Office (PCSO) has said the Deed of Authority (DOA) of Globaltech Mobile Online Corp. has already expired in March 2016, and it was not given a new authority to play the peryahan ng bayan. In other words, the public should not patronize its illegal operations, which uses PCSO’s name and logo. The issue is already being heared in the court, but some people are using “black propaganda” through the media who were “greased” to say PCSO has already lost the case, and that there’s a “Congressional approval.” On top of that, they peddle the fiction that peryahan is legal and not the Small Town Lottery or STL of PCSO. These are just

some of their irregular activities to brainwash people and hide the truth about the DOA issue and that Globaltech should now stop its peryahan operation. For everyone’s information, PCSO, based on its Charter, (Republic Act 1169), was given exclusive authority to operate sweepstakes, lottery and other similar games nationwide to generate funds for the national government’s medical and charity programs.

In 2018, PCSO posted historic high total revenue of P63.55 billion from its lottery games, benefitting almost half a million people. Peryahan ng bayan has not contributed a single cent to this. So, why are we going to patronize it if this game will only make the people operating it richer? The public is not benefitting from this, especially those who need medical assistance. If there’s a peryahan operating in your town, do not patronize it— that’s the position of PCSO through the leadership of General Manager Alexander “Mandirigma” Balutan and Chairman Anselmo Simeon Pinili, including all the members of PCSO board of directors. Official documents show the PCSO board has trashed the DOA of Globatech because the latter has not been remitting more or less P50 million as specified in the contract. The unremitted total has already reached P100 million, which has ballooned to P506 million if we include penalty charges.

If that amount went to the medical assistance program for sick patients, it would have benefitted the needy. Mandirigma once said, PCSO will continue to enforce President Rodrigo Duterte’s Executive Order 18 (all-out war against illegal gambling) and Republic Act 9287 (An Act Increasing the Penalties for Illegal Numbers Games, Amending Certain Provisions of Presidential Decree 1602) to stop jueteng, masiao, swertres, peryahan and other types of illegal numbers games in the country. Peryahan should not be allowed to operate anywhere in the country, especially in Quezon City, Pangasinan, Oriental Mindoro, Marinduque, Palawan, Rizal, Catanduanes, Negros Occidental, Cebu, Bohol, Agusan del Norte, Davao del Sur, Misamis Oriental, South Cotabato and Zamboanga del Sur. Globaltech’s DOA in those areas has already expired! E-mail: fetad@yahoo.com

Opinion BusinessMirror

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PCC @ 3: A disruptor among disruptors

Financial Sector Assessment Program Dennis B. Funa

INSURANCE FORUM

Atty. Macario R. de Claro Jr.

COMPETITION MATTERS

‘D

ISRUPTION” and “disruptive innovation” are buzzwords making their rounds in business and tech circles lately. They describe the phenomenon of rapid change in the environment, practices, and culture shaping business, government and many other fields. In the Philippines, alongside technologically driven disruption, another kind of disruption is taking place. A disruption of anticompetitive attitudes and practices has been spearheaded by the Philippine Competition Commission (PCC), which for the past three years has worked toward ensuring fair competition in all markets for the benefit of all Filipinos. On the occasion of its third anniversary, the PCC held the 2019 Forum on Competition in Developing Countries, themed “Technological Disruption: Market Competition Issues and Challenges.” Having laid the groundwork for sound competition policy and enforcement in the Philippines, the PCC is bent on staying at the forefront of competition developments in Southeast Asia and among developing countries. The Forum gathered key stakeholders from business, government, the academe, and the international community for a timely discussion of how competition authorities must respond to the technological disruptions that are transforming the business landscape. The keynote speaker, Dr. Ndiamé Diop, head of the World Bank Group’s Macroeconomics, Trade and Investment Global Practice, appropriately framed the day’s discussion. Everyone was gathered there to discuss the latest technology, cyberthreats, and cyber opportunities, but Dr. Diop reminded the body that, at the end of the day, effective competition policy and enforcement, especially in developing countries, must necessarily lead to poverty reduction via competition in labor markets among firms and real wage growth. After all, poverty reduction is the best proof of consumer benefit and economic development. The panel discussions focused on the opportunities and challenges posed by technological disruption. For example, technological disruptions alter cost structures and allow easier market entry due to lower fixed and average costs, affecting traditional business models, like that of exclusive franchises for “natural monopolies.” Presently, these effects should be considered in responding to clamors from certain business sectors seeking relief from disruptors entering their markets. Meanwhile, it has become ever more crucial for regulators to weigh their regulatory mandate against consumer welfare considerations. A commendable example cited in the forum was the response of the Bangko Sentral ng Pilipinas to recent developments in financial technology. The BSP’s liberal but prudent approach to the regulation of new financial technology services has allowed the industry to flourish and serve the country’s large unbanked population. Generally, the adoption of outcomes-based regulation has allowed the rapid testing and development of new products and business models

Locsin. . .

continued from A6

UN’s continued engagements with regional organizations in terms of joint analysis, planning and information-sharing. We also commend the growing contributions of regional arrangements such as Asean and the African Union for strengthened partnership with the United Nations in peacekeeping. n On politics, we repeat our support of calls to invest more in local political solutions to conflicts, which UN peacekeeping must reinforce and

and innovation to prosper. Competition cooperation does not end with sector regulators. All agencies across national and local government, however, should be equipped with a mindset that fosters innovation. Businesses, big and small, stand to benefit from the productivity gains generated by disruptive innovation. Small market players can gain access to smart operations solutions, which could cover accessible business services and manufacturing facilities. But as with all other emerging technologies, there are risks to be faced. Artificial intelligence can reinforce anticompetitive behavior even without human instruction. Data itself can become a barrier to entry or may be leveraged for anti-competitive agenda. Potential efficiency gains and convergence of technologies may be limited by the extent of interoperability of physical and digital infrastructure. Two recurring themes on disruptive technologies were discussed during the forum. First is the call for closer collaboration among the government, industry and the academe, to facilitate adaptive regulation design, align development objective with existing and available talents and resources, and build and promote mutual capacity. Second is the inclusivity of access to disruptive technology, which will open up potential markets and increase the size of the economic pie. The same can be applied to PCC as a disruptor promoting market competition. Multisectoral cooperation is vital; all markets and market players must have access to competitive conditions and outcomes, when applicable. These past three years have not been easy. Every concluded case and signed memorandum of agreement are but small steps for the PCC not only in upholding competition within the local and international business environment but also in promoting consumer welfare and benefit. Surely, there will be more uphill battles in the coming months and years. Rest assured, the PCC will remain steadfast in disrupting unfair competition. Commissioner de Claro Jr., a CPA lawyer, has worked in companies in the fields of manufacturing, mining, telecommunications, real estate and banking and finance prior to his appointment to the Philippine Competition Commission. A litigation and corporate lawyer, he once served as legal consultant to the Department of Environment and Natural Resources. He earned a Bachelor of Laws degree from the Ateneo de Davao Law School and graduated from the De La Salle College with a BS in Commerce, Major in Accounting.

not supplant. People in conflict situations must feel that they own the peace we merely help to bring about and keep. It is they who must configure the peace and the approaches to it. No one else. Finally, the Philippines welcomes the 2019 Defense Ministerial Meeting in New York City to be held on March 29 and looks forward to renewing and updating its pledges which were committed at the 2017 Vancouver Defense Ministerial Meeting. I wish everyone productive and meaningful negotiations in the next three weeks. Thank you, Mr. Chair.

Wednesday, February 20, 2019 A7

HE Financial Sector Assessment Program (FSAP) is a joint initiative of the International Monetary Fund (IMF) and the World Bank (WB). This initiative was launched in 1999 on the heels of the 1997 Asian financial crisis. The program’s ultimate objective is to identify financial system vulnerabilities and to develop the appropriate responses. This is done by examining and assessing the countries’ financial sectors, which include the banking, securities and insurance sector. The examination is done jointly by the IMF and WB for developing and emerging economies (conducting both financial stability assessment and financial development assessment), and by the IMF alone for advanced economies (financial stability assessment only). Financial stability is the main concern of the IMF, while financial development is the main concern of the WB. In 2009, a review of the program was conducted and fundamental changes were introduced following the 2007-2008 financial crisis. Interestingly, it has been acknowledged that “FSAPs do not cover all sources of financial sector risk [e.g., operational risk or the risk of fraud].

But even for risks that the FSAPs do cover, there are limitations that are not always appreciated.” Since 1999, about 144 membercountries have undergone FSAP, including almost all G-20 countries. The Philippines will have one in 2019. The first FSAP conducted in the Philippines was in 2002 and then again in 2009. Around 14 to 16 FSAPs are conducted every year at an annual cost of about $15 million. As of 2013, there are 29 jurisdictions where assessment is mandatory as they are considered to be “systematically important.” These mandatory assessments are conducted every five years. Others are on a voluntary basis. Countries

requesting assessment are prioritized based on established criteria. The primary concern of financial sector assessment is the creation of a “strong and well-regulated financial sector.” It has been observed that three-fourths of the 180-plus country members of the IMF and the WB have experienced a financial sector crisis in the last two decades. The occurrences of these crisis have led the IMF and WB to create this program. FSAP has been designed to be comprehensive and in-depth. Stress tests and scenario analysis are conducted to see how financial institutions, such as a central bank, would respond to shocks like significant movements in interest rates or exchange rates. Compliance with international standards are looked into, such as the Basel Core Principles for Effective Banking Supervision. Compliance with directives of international standard-setting bodies are determined, such as the Basel Committee on Banking Supervision, the International Association of Insurance Supervisors with respect to the Insurance Core Principles, and the International Organization of Securities Commissions with respect to the Objectives and Principles of Securities Regulation. The FSAP examination has three main components: “1) an assessment of stability of the financial system, including macroeconomic

factors that could affect the performance of the system and conditions in the system that could affect the macroeconomy; 2) an assessment of the extent to which relevant financial sector standards, codes, and good practices are observed; and 3) an assessment of the financial sector’s reform and development needs.” The outcome of the examination is the preparation of the Financial System Stability Assessment by the IMF. The WB produces the Financial Sector Assessment (FSA). The FSSA focuses on the strengths, risks and vulnerabilities in the financial system. This FSSA is submitted to the IMF’s executive board, which will form part of the Article IV consultations between the IMF and the member-countries. The 2009 FSAP pertaining to the insurance sector has observed the lack of independence of the Insurance Commission, that supervision is not sufficiently risk-based, and that the Insurance Code of 1978 and regulations are out of date and fall short of international best practices. These have been addressed by the amendment of the Insurance Code by Republic Act 10607. Dennis B. Funa is the current insurance commissioner. Funa was appointed by President Duterte as the new insurance commissioner in December 2016. E-mail: dennisfuna@yahoo.com.

On the compulsory SSS membership for OFWs Susan V. Ople

SCRIBBLES

OT all overseas Filipino workers (OFWs) know this but pretty soon they would have to become members of the Social Security System (SSS) as a result of the passage of Republic Act (RA) 11199, otherwise known as the “Social Security Act of 2018”. For the sea-based or maritime sector, the manning agencies are defined in the law as “agents of their principals and are considered as employers of sea-based OFWs.” As employers, these manning agencies will be held criminally liable in case the contributions of seafarers are not remitted properly. In contrast, all land-based OFWs not over 60 years of age shall be deemed as SSS members under the self-employed category. This means they would have to shoulder the contributions without any share coming from either their recruitment agency or, more important, their foreign employer. How much would the minimum SSS contribution be for a newly hired OFW? Based on Monday’s consultation with OFW stakeholders on the Social Security Act of 2018 spearheaded by Labor Secretary Silvestre Bello III, the projected minimum monthly contribution would be P960. This is the amount that a firsttime OFW bound for abroad has to pay to be considered as compliant with the new SSS law. How will the initial monthly

SSS contribution be collected from our OFWs? The mode of collection would have to be specified in the implementing rules and guidelines that would be the subject of consultations next month. Will an OFW be prevented from leaving the country if and when he or she cannot pay the P960 contribution to the SSS? In short, will the overseas employment certificate (OEC) issued by the POEA be used as a collecting tool to ensure full compliance with the law? Again, this has to be determined and specified under the implementing rules and regulations. The SSS administration will likely invoke Section 9 of RA 11199: “(e) The DFA, the DOLE and the SSS shall ensure compulsory coverage of OFWs through bilateral social security and labor agreements and other measures for enforcement.” Enforcing the law through the OEC requirement, to their mind, falls under “other measures for enforcement.” We hope that the POEA will not take on the role of a collecting agent for SSS. A worker’s inability to pay P960 to a government agency regardless of the benefits to be

received should not be a barrier to overseas employment. The law itself recognizes the difficulty of getting foreign employers to remit their share in behalf of our OFWs, hence the “self-employed” tag. Our OFWs are already groaning from the huge recruitment costs that include mandatory payments to Pag-IBIG and PhilHealth, as well as the standard medical and passport fees. Some workers also pay their OWWA contributions, though in principle, these should come from foreign employers. Of course, there can be no sound argument against the need to save and invest for the rainy days through a pension fund. Still, the OFWs that will be leaving the country for the first time have no income yet to speak of. Why impose the burden of an initial mandatory contribution on an OFW who has yet to meet his or her employer for the very first time? And what if the OFW is subjected to maltreatment and abuse? When he or she comes home, the legal and moral obligation to meet the prescribed monthly contributions is a continuing one. Unlike OWWA that offers repatriation and livelihood assistance, the SSS offers benefits based on the amount of monthly contributions. A new feature of the SSS Act of 2018 is on the grant of unemployment insurance or involuntary separation benefits. Section 14-B reads: “-A member who is not over 60 years of age who has paid at least 36 months contributions,12 months of which should be in the 18-month period immediately preceding the involuntary unemployment or separation shall be paid benefits in the form of monthly cash pay-

ments equivalent to 50 percent of the average monthly salary credit for a maximum of two months…” Technically, therefore, an overseas domestic worker who had to run away due to abuse suffered from her employer after a few months of work would not be eligible for unemployment insurance. It would be extremely rare for OFWs in vulnerable occupations to have paid at least 36 months contributions to the SSS prior to experiencing any form of abuse. The provision on unemployment insurance is more attuned to the domestic work force. Common sense and experience dictate that the more we burden our outgoing workers with rules, financial obligations and red tape, the easier it is for illegal recruiters and human traffickers to tempt them with false promises. The State also has an obligation to promote legal and safe migration. While the new SSS law would result in higher revenues for the SSS, it should not be at the expense of our OFWs. If at all, the initial contributions must be more affordable and subject to remittance once they start earning a decent wage abroad through friendly payment schemes. To make them pay their SSS membership before they can even leave makes the government a bully wanting more of the money that these workers don’t have. There has to be a humane and fair way of imposing mandatory contributions on our OFWs. Let’s look for it. Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues. She also represents the OFW sector in the Inter-Agency Council Against Trafficking.

Brexit’s one (car) accident waiting to happen By Anjani Trivedi Bloomberg Opinion

UTOMAKERS, Brexit isn’t your only problem. Honda Motor Co. is planning to shut down its Swindon plant in the United Kingdom in two years, a local member of Parliament said on Twitter. (See related story on B3). On Tuesday, Honda confirmed it will close the site where it makes 150,000 Civics a year, citing “unprecedented changes” in the industry for its global restructuring. The company also said it will stop producing the Civic sedan in Turkey, where it makes about 38,000 units a year. It’s unlikely Brexit is to blame. No doubt, prospects are scary for the

European auto market, with upheaval across supply chains and potential tariffs posing a real threat. Cross-border auto trade is almost $70 billion a year, according to analysts at Nomura Holdings Inc. But since 2016, there’s been no tangible change to businesses’ operations; the major impact has been from the value and volatility of sterling, as Brexit’s outcome remains in limbo. Honda’s car sales in Europe (which includes the UK, Germany, Belgium, Turkey and Italy) have been sagging for a while, down around 5 percent in the third quarter. Operating profit from the region remain tiny compared with Japan and North America, accounting for less than 1 percent of the total in the quarter ended December 31. Net income mar-

gins overall have been shrinking, too. The company’s market share fell to less than 1 percent last year from around 2 percent in 2006. A hard Brexit is expected to shave just 1 percent off net profit. Honda has its sights beyond the UK anyway, on areas such as electric cars. The automaker is hoping more than two-thirds of its sales come from this category by 2030. It has tied up with Contemporary Amperex Technology Co., a large Chinese battery maker known as CATL, and committed $2.75 billion to General Motor Co.’s self-driving car unit GM Cruise Llc. With the need for cash, and costs rising elsewhere, why dig your heels into a region with declining sales and a gloomy outlook? (Nomura analysts

expect car sales in Europe to fall 2.9 percent this year.) The backdrop is partly due to new emissions lab tests for cars. Meanwhile, a switch from diesel has some carmakers adjusting their business models, anyway. The reality is that Brexit’s impact will vary across auto manufacturers. Tata Motors Ltd., for instance, could see more than 70 percent of its profits wiped out in the next fiscal year if a hard Brexit deal yields a 10-percent tariff on cross-border auto trade, as most of Jaguar Land Rover’s production is based in the UK. The company has said a “bad Brexit deal” could cost it more than £1.2 billion ($1.55 billion) a year, but noted that no audit can be expected to predict the full range of consequences.

Editor: Efleda P. Campos

Companies BusinessMirror

Wednesday, February 20, 2019

ERC orders Meralco to publish list of ₧4.41-B unclaimed tax refund

By Lenie Lectura

@llectura

HE Energy Regulatory Commission (ERC) has directed the Manila Electric Co. (Meralco) to submit a proposed scheme for the unclaimed tax refund amounting to P4.41 billion as of end-September 2018. The utility firm was ordered to submit within 10 days from receipt of the February 4 order an updated report on the gross and net amount of refund as of December 31, 2018. “It is incumbent upon Meralco to inform its customers immedi-

ately upon receipt of the ERC order through the publication in a newspaper of general circulation, for four consecutive weeks, of a notice to all consumers to claim their refund,” ERC Chairman and CEO Agnes VST Devanadera stated.

Meralco was also enjoined to deposit in a separate interestbearing bank account the unclaimed amount of the income tax refund, for transparency and easy monitoring purposes. Meralco was required to submit the detailed list of customers who have not yet claimed their refund within 30 days from receipt of the ERC order. Meralco was also instructed to post in all its business offices the notice and the list of names of customers who have not claimed the tax refund for their information and reference. “We are now in a new regulatory regime where consumer benefit is given primal consideration. This new set of ERC officials will see

to it that consumers do not only get billed with just and reasonable rates, but we will also ensure they get the best value for their hardearned money,” the ERC chief said. Meralco has until June this year to disburse the P4.41 billion of unclaimed refund owed to its customers. The amount was supposed to complete the implementation of the Supreme Court (SC) directive on income tax refund amounting to P30.23 billion to Meralco customers until 2010. The utility firm was not able to finish it. Thus, it asked the ERC to extend the implementation for five years or until December 2015. The ERC approved this. Meralco sought another ex-

tension for three years or until December 2018. The ERC acted on Meralco’s application to extend the implementation of the SC tax refund directive only on December 19, 2018. “The motion filed on December 18, 2015, by Meralco for authority to extend or continue the implementation of the SC tax refund to eligible accounts or customers under Phases I to IV, three years from January 1, 2016 or until December 31, 2018, is hereby approved with modification,” the ERC said. The ERC cited five conditions. One was for Meralco to continue with the implementation of the SC directive on income tax refund to eligible customers under Phases I to IV until June 30, 2019.

GE ready to showcase hydropower, RE capabilities in PHL

E Philippines is looking at possible opportunities to showcase its technology in the power sector, particularly hydropower and batteryenergy storage. “We are focusing on renewable energy and gas. We are seeing some hydro. We are trying to see pump storage,” GE Philippines President Jose Emmanuel de Dios said. With solutions for wind, hydro, biogas and solar, GE is fully equipped to support the Philippines’s RE targets.

“We hear a lot of people talking about hydro than solar,” he added. GE equips 25 percent of hydropower assets worldwide. “We have more than 25 percent installed global hydropower capacity,” de Dios said. The company is also looking to pilot batteryenergy storage with a capacity of 4 megawatt (MW) hours. “We are seeing interest in the region,” he added. Also, the world’s largest installed (48

PA Properties breaks ground for ₧128-M housing project By Roderick L. Abad

@rodrik_28

Contributor

EAL-ESTATE firm PA Alvarez Properties & Development Corp. (PA Properties) broke ground for the third phase of its first horizontal project in Pampanga, with an investment of P128 million. Trillium Park—the third housing component of the 33-hectare Bridgepointe Place in the city of San Fernando—is envisioned to be a community that features 158 bungalows. Depending on their space requirement, home seekers can choose between the Iris or Natalya model house, with a lot area of 60 square meters and 96 sq m, respectively. Both offer two bedrooms, one toilet and bath, kitchen, living and dining areas, and a provision for carport. PA Properties VP for Business Development Jonathan Jerusalem told the BusinessMirror on Monday that this project targets mainly the “economic” market, those who can afford dwellings with price

points ranging from P450,000 to P1.7 million. What makes it unique is the generous size of lots that will cater not only to individuals or couples looking for their first home, but those who would like to invest in real estate, he said. “It will also tap the niche of the regional market who are aspirational and requires perimeter space for their home. The price is affordable and will appeal to working professionals and overseas Filipino workers,” he added. Featuring contemporary design and architecture, the 9-hectare Trillium Park has just started construction. The project’s housing units are now on pre-sale for prospective buyers. It is set for completion by 2021. “Market response is positive and encouraging so far. People are looking forward on when the model units will be available,” Jerusalem said. “As of now, nine units in Phase 3 are considered sold.” Nestled in Barangay Del Rosario in the city of San Fernando, Bridgepointe Place is a suburban sanctuary, which now stands with two of its three communities.

Metro Retail signs joint-venture deal with Samar

ETRO Retail Stores Group Inc. on Tuesday said it signed a joint-venture agreement with the local government of Samar for the development of a 2-hectare property in Catbalogan. The company that operates Metro department stores in the country said it will allot P473 million for the development of a mixed-use facility on a 2.2-hectare property owned by the provincial government. The development will have a shopping mall that will feature a department store and supermarket with one movie theater and with leasable spaces; a convention center; a government center with business-process outsourcing (BPO) center; a transport terminal; and a hotel. “The project shall be composed of two phases—the construction phase and the project- implementation phase,” it said. The company said it will construct the

department store and supermarket with one movie with leasable spaces, expandable to a community mall, some 18 to 24 months from turnover of the property. The convention and government centers will be constructed eight months from the turnover, while the hotel will be one year to 18 months from the turnover. “The implementation phase of the project shall be for a period of 30 years to be reckoned from the start of the commercial operations of the department store and supermarket with one movie theater and with leasable spaces,” it said. The two agreed to have a share in the monthly gross revenues and gross rent, without value-added tax, from the operation of the shopping mall. All revenues to be derived from the operation of the convention center, government center with BPO and transport terminal will be to the province. VG Cabuag

gigawatt) base of pumped storage plants in operation or under construction is equipped with GE technology. GE offers unique hydro solutions based on project-specific, cutting-edge and digital technologies to deliver the greatest value to customers. Smarter and more connected, GE’s hydro plants no longer just generate power; they store it and deliver it to the grid with an unmatched level of flexibility and

efficiency. GE is the only digital-industrial company that can provide choices for the entire value chain of a hydropower plant. GE also offers a full suite of onshore and offshore wind turbines. The company’s wind turbines are uniquely suited to meet the needs of customers globally. GE supplied the steam turbine and generator for the Masinloc power plant. Lenie Lectura

CIAC assures ‘seamless’ turnover of Clark airport operations

LARK FREEPORT—The Luzon International Premiere Airport Development Corp. (Lipad) was assured of a smooth turnover of the operations and maintenance (O&M) of the Clark airport by the Clark International Airport Corp. (CIAC) within the year. Lipad is now the corporate name of the erstwhile North Luzon Airport Consortium (NLAC) composed of Changi Airports Philippines Pte. Ltd., Filinvest Development Corp., JG Summit Holdings Inc. and Philippine Airport Ground Support Solutions Inc. “Key CIAC officials are closely coordinating with the O&M consortium and we’ll be working together to ensure a smooth transition,” CIAC President Jaime Alberto Melo said during a kickoff meeting held on February 15 at the office of the Bases Conversion and Development Authority (BCDA) here. Melo said CIAC and Lipad will develop handover protocols for BCDA’s approval. The BCDA is the parent company of CIAC, while airport operations are under the supervision of the Department of Transportation (DOTr). CIAC officials representing the offices of airport operations, human resources, marketing and finance, legal, information technology and public relations set up initial turnover plans for the transition to O&M. The target date for both parties for the asset handover is on July 20, or 180 days after the signing of the O&M concession agreement. On January 22, the Changi-led consortium signed a 25-year concession agreement with the government to develop the commercial assets and operate and maintain Clark airport’s new terminal building expected for operation by 2021. Ashley Manabat

Companies BusinessMirror

Wednesday, February 20, 2019

PSE STOCK QUOTATIONS

February 19, 2019

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

ASIA UNITED 58.2 59.25 58.2 59.25 58.2 59.25 1510 87892.5 BDO UNIBANK 129.2 129.3 133.3 133.3 128.5 129.2 4604870 601030044 BANK PH ISLANDS 89.55 89.95 89.2 90 89.2 89.55 2067850 185201237 CHINABANK 27.65 27.7 27.75 27.75 27.65 27.7 63400 1755170 EAST WEST BANK 12.72 12.74 12.94 12.94 12.66 12.72 459700 5860374 METROBANK 81 82.1 80.35 82.1 80.05 82.1 1321380 106913300.5 PB BANK 13.8 14.26 14 14 13.98 14 31500 440714 PHIL NATL BANK 47.65 47.9 48.4 48.4 47.65 47.65 172500 8282680 PSBANK 59.05 59.15 59.1 59.25 59.05 59.05 1900 112462 PHILTRUST 115 121 114.5 114.6 114.5 114.6 600 68705 RCBC 26.4 26.5 26.8 26.8 26.4 26.5 250100 6623160 SECURITY BANK 169.7 169.8 172.4 173.6 168.5 169.8 556320 94470773 UNION BANK 61.8 62 62 64 61.8 61.8 2790 173780.5 BRIGHT KINDLE 1.41 1.45 1.43 1.47 1.41 1.47 119000 168350 BDO LEASING 2.24 2.29 2.3 2.3 2.22 2.22 26000 58080 COL FINANCIAL 17.66 17.8 17.6 17.8 17.6 17.8 65600 1163260 FIRST ABACUS 0.62 0.64 0.65 0.65 0.61 0.64 103000 64320 FERRONOUX HLDG 4.43 4.49 4.44 4.59 4.43 4.49 58000 258870 IREMIT 1.43 1.49 1.47 1.48 1.47 1.48 57000 84310 MEDCO HLDG 0.46 0.49 0.465 0.47 0.46 0.46 230000 106700 NTL REINSURANCE 1.19 1.2 1.17 1.21 1.17 1.19 506000 603470 PHIL STOCK EXCH 185.1 185.9 187.9 187.9 185.9 185.9 1090 203970 SUN LIFE 1800 1803 1800 1800 1800 1800 110 198000 VANTAGE 1.14 1.17 1.13 1.13 1.13 1.13 5000 5650 INDUSTRIAL ALSONS CONS 1.53 1.55 1.57 1.59 1.53 1.53 2917000 4568580 ABOITIZ POWER 34.95 35.5 35 35.85 34.95 34.95 747500 26240295 BASIC ENERGY 0.242 0.249 0.25 0.25 0.242 0.249 1810000 441490 FIRST GEN 20.25 20.35 20.4 20.4 20.1 20.25 3039700 61361245 FIRST PHIL HLDG 73 73.3 73.5 74 72.75 73 26370 1932211 MERALCO 357.6 359 358 360 356 359 233250 83430024 MANILA WATER 27 27.1 27.05 27.2 26.95 27 432400 11678265 PETRON 6.82 6.83 6.7 6.84 6.62 6.82 12403200 84107418 PETROENERGY 3.73 3.78 3.79 3.79 3.78 3.78 170000 642620 PHINMA ENERGY 1.29 1.3 1.29 1.3 1.28 1.3 4069000 5251320 PHX PETROLEUM 11.7 11.8 11.78 12.32 11.7 11.8 832000 9934888 PILIPINAS SHELL 47.65 47.9 47.05 47.95 47 47.65 528700 25109210 SPC POWER 6.4 6.46 6.36 6.5 6.3 6.4 132300 846206 AGRINURTURE 16.4 16.6 16.66 16.68 16.32 16.6 472300 7848338 CNTRL AZUCARERA 17.02 17.68 16.5 18.8 16.5 17.68 84100 1505464 CENTURY FOOD 16 16.1 16 16 15.82 16 1984400 31521602 DEL MONTE 6.51 6.66 6.69 6.7 6.51 6.51 25400 168641 DNL INDUS 11.52 11.6 11.64 11.64 11.52 11.52 1585900 18283060 EMPERADOR 7.66 7.68 7.7 7.7 7.61 7.61 3015200 23214562 SMC FOODANDBEV 97.5 97.75 99.8 99.8 96.6 97.5 1608600 157356031 ALLIANCE SELECT 1.02 1.03 1.04 1.04 1.02 1.03 2356000 2420900 JOLLIBEE 310 313 313 316 310 310 1073930 335261304 LIBERTY FLOUR 50.05 53.95 50.05 50.05 50.05 50.05 160 8008 MACAY HLDG 11.82 12 12.5 12.8 11.7 11.82 108500 1308286 MAXS GROUP 12.6 12.64 13.3 13.3 12.56 12.6 488200 6229644 MG HLDG 0.201 0.202 0.202 0.202 0.201 0.201 1370000 275480 PEPSI COLA 1.36 1.37 1.38 1.39 1.35 1.37 2044000 2794340 SHAKEYS PIZZA 12.6 12.64 12.64 12.64 12.56 12.6 833600 10487888 ROXAS AND CO 1.88 1.92 1.88 1.93 1.86 1.92 521000 977350 RFM CORP 4.71 4.74 4.74 4.74 4.7 4.71 361000 1697210 ROXAS HLDG 2.81 2.89 2.9 2.99 2.82 2.82 27000 77330 SWIFT FOODS 0.13 0.136 0.132 0.132 0.13 0.13 3430000 447130 UNIV ROBINA 140.5 143 145 145.5 140.5 140.5 866070 123287658 VITARICH 1.68 1.69 1.72 1.72 1.68 1.69 2493000 4236890 VICTORIAS 2.71 2.72 3.14 3.2 2.72 2.72 180000 509020 CONCRETE A 65 69.95 71.45 71.45 70 70 1010 70714.5 CEMEX HLDG 2.21 2.22 2.28 2.33 2.16 2.21 14902000 33174050 DAVINCI CAPITAL 6.11 6.38 6.08 6.39 6.08 6.38 9400 59136 EAGLE CEMENT 15.9 16.08 16.02 16.1 15.82 16.08 156500 2510014 EEI CORP 8.03 8.1 8.11 8.18 8.01 8.1 2575800 20857776 HOLCIM 9.45 9.5 9.5 9.55 9.3 9.45 2330800 22016921 MEGAWIDE 18.5 18.58 18.5 18.88 18.4 18.58 21701000 403279718 PHINMA 8.89 9.37 8.95 8.95 8.88 8.88 5000 44444 TKC METALS 1.07 1.1 1.14 1.21 1.06 1.1 2601000 2947400 VULCAN INDL 1.36 1.37 1.4 1.4 1.36 1.36 1070000 1473000 CROWN ASIA 1.86 1.89 1.8 1.9 1.79 1.89 478000 887610 EUROMED 1.59 1.66 1.7 1.7 1.66 1.66 4000 6720 LMG CHEMICALS 4.36 4.4 4.36 4.36 4.36 4.36 2000 8720 MABUHAY VINYL 3.5 3.69 3.54 3.7 3.5 3.69 65000 228040 PRYCE CORP 6.06 6.13 6 6.13 6 6.13 45100 275097 GREENERGY 3.21 3.23 3.25 3.28 3.21 3.23 9505000 30734650 INTEGRATED MICR 12.24 12.28 12.34 12.42 12.22 12.24 728900 8961550 IONICS 1.69 1.7 1.71 1.72 1.69 1.69 276000 468280 SFA SEMICON 1.38 1.39 1.4 1.41 1.35 1.39 22000 30650 CIRTEK HLDG 28.9 29.5 28.8 29.5 28.45 29.5 173000 5045485 HOLDING & FRIMS ABACORE CAPITAL 0.71 0.72 0.72 0.76 0.7 0.71 50879000 36853490 ASIABEST GROUP 22.5 22.6 22.2 23.2 22.2 22.5 97600 2197900 AYALA CORP 935.5 937 945 945 931.5 937 194310 181847300 ABOITIZ EQUITY 62.15 62.2 63.55 63.6 62.1 62.15 1867170 116503332.5 ALLIANCE GLOBAL 13.7 13.82 13.88 13.88 13.66 13.82 6178200 84999876 ANGLO PHIL HLDG 0.8 0.81 0.83 0.83 0.8 0.8 1130000 915010 ATN HLDG A 1.37 1.38 1.41 1.45 1.33 1.37 19916000 27557450 ATN HLDG B 1.38 1.41 1.49 1.49 1.38 1.41 1487000 2113360 BHI HLDG 1254 1699 1255 1255 1255 1255 20 25100 COSCO CAPITAL 7.49 7.5 7.48 7.5 7.41 7.5 799400 5974612 DMCI HLDG 12.3 12.46 12.4 12.46 12.38 12.46 563000 6990436 FILINVEST DEV 13.52 13.8 14 14 13.46 13.8 819300 11270662 FORUM PACIFIC 0.232 0.24 0.27 0.27 0.232 0.232 1730000 419770 GT CAPITAL 1000 1004 1000 1009 998 1000 84840 85024050 HOUSE OF INV 6.08 6.15 6.06 6.08 6.06 6.08 800 4850 JG SUMMIT 65.6 66.35 67.1 67.1 65 65.6 2951020 194940627.5 JOLLIVILLE HLDG 5.52 5.86 5.52 5.52 5.52 5.52 4200 23184 LODESTAR 0.58 0.61 0.63 0.63 0.59 0.61 965000 570480 LOPEZ HLDG 5.2 5.25 5.15 5.25 5.09 5.25 868700 4496678 LT GROUP 15.16 15.18 15.38 15.38 15.06 15.18 2898300 43861412 MABUHAY HLDG 0.57 0.58 0.59 0.59 0.57 0.57 126000 71990 METRO PAC INV 4.7 4.75 4.84 4.86 4.7 4.7 13194000 62757070 PACIFICA 0.04 0.041 0.042 0.043 0.041 0.041 82500000 3406100 PRIME ORION 2.91 2.96 2.7 3.1 2.6 2.91 19960000 58748450 REPUBLIC GLASS 2.6 2.8 2.81 2.81 2.81 2.81 3000 8430 SOLID GROUP 1.35 1.37 1.36 1.36 1.34 1.35 172000 231890 SYNERGY GRID 455 465 459 465 459 465 390 179530 SM INVESTMENTS 970 973.5 970 984 965 970 177280 171989090 SAN MIGUEL CORP 173.3 174 174 177 172 174 764360 133592584 SOC RESOURCES 0.79 0.8 0.79 0.8 0.79 0.79 96000 75920 SEAFRONT RES 2.36 2.49 2.36 2.36 2.36 2.36 24000 56640 TOP FRONTIER 276.4 289.6 281.4 289.6 276.4 289.6 4640 1313148 WELLEX INDUS 0.255 0.26 0.265 0.265 0.255 0.26 2290000 584350 ZEUS HLDG 0.315 0.32 0.34 0.355 0.305 0.32 50120000 16118700 PROPERTY ARTHALAND CORP 0.89 0.9 0.93 0.93 0.89 0.89 1611000 1449100 ANCHOR LAND 10.54 10.9 10.96 10.96 10.92 10.94 6700 73378 AYALA LAND 43 43.15 44.65 44.9 42.5 43 17025600 740083730 ARANETA PROP 1.88 1.91 1.9 1.94 1.86 1.88 185000 346840 BELLE CORP 2.51 2.52 2.54 2.54 2.51 2.51 1428000 3605660 A BROWN 0.79 0.8 0.79 0.81 0.79 0.8 389000 311030 CITYLAND DEVT 0.9 0.93 0.93 0.93 0.9 0.93 34000 30990 CROWN EQUITIES 0.25 0.255 0.25 0.255 0.25 0.25 3500000 885350 CEBU HLDG 6.12 6.47 6.4 6.47 6.1 6.47 3700 22743 CEB LANDMASTERS 4.09 4.18 4.1 4.18 4.04 4.18 490000 2018900 CENTURY PROP 0.49 0.495 0.495 0.51 0.495 0.495 9870000 4917550 CYBER BAY 0.41 0.425 0.43 0.43 0.41 0.41 1050000 441450 DOUBLEDRAGON 22.9 22.95 22.85 23.45 22.85 22.9 2847200 65183675 DM WENCESLAO 10.2 10.24 10.14 10.3 10 10.24 667200 6830350 EMPIRE EAST 0.53 0.54 0.56 0.56 0.52 0.54 995000 521530 EVER GOTESCO 0.133 0.139 0.133 0.14 0.133 0.139 1890000 256320 FILINVEST LAND 1.51 1.52 1.54 1.56 1.51 1.51 7625000 11576600 GLOBAL ESTATE 1.24 1.25 1.23 1.25 1.23 1.24 1113000 1381900 8990 HLDG 11.9 11.98 12 12 11.9 11.98 366100 4381366 PHIL INFRADEV 2.13 2.15 2.23 2.23 2.1 2.13 9423000 20319800 CITY AND LAND 0.81 0.84 0.81 0.84 0.81 0.84 279000 231360 MEGAWORLD 5.36 5.39 5.12 5.39 5.12 5.39 47136700 250731805 MRC ALLIED 0.435 0.44 0.44 0.445 0.43 0.44 17280000 7605000 PHIL ESTATES 0.465 0.47 0.475 0.475 0.465 0.47 670000 314550 PRIMEX CORP 2.96 2.97 2.86 2.97 2.83 2.96 429000 1249120 ROBINSONS LAND 23.25 24.15 22.4 24.35 22.2 24.15 6158000 143893440 PHIL REALTY 0.47 0.475 0.475 0.475 0.47 0.47 430000 203400 ROCKWELL 2.03 2.05 2.03 2.03 2.02 2.03 17000 34500 SHANG PROP 3.12 3.15 3.12 3.14 3.11 3.14 205000 639400 STA LUCIA LAND 1.41 1.43 1.41 1.45 1.34 1.43 4461000 6024400 SM PRIME HLDG 37.65 38.5 38.35 38.95 37.6 37.65 10520500 401580340 STARMALLS 6.8 6.81 6.59 7.4 6.51 6.8 7337700 51324186 SUNTRUST HOME 0.78 0.8 0.79 0.82 0.78 0.8 83000 65690 VISTA LAND 7.46 7.5 7.51 7.85 7.41 7.5 74197900 556625676 SERVICES ABS CBN 22.55 22.6 22.85 22.9 22.6 22.6 107600 2445915 GMA NETWORK 5.72 5.73 5.73 5.74 5.72 5.73 244200 1399227 MANILA BULLETIN 0.68 0.69 0.72 0.72 0.65 0.68 7826000 5355610 MLA BRDCASTING 16.02 17.38 16.02 16.02 16.02 16.02 1500 24030 GLOBE TELECOM 1851 1858 1880 1900 1851 1851 57795 107452605 PLDT 1100 1101 1126 1126 1101 1101 174850 194101755 APOLLO GLOBAL 0.045 0.046 0.046 0.047 0.044 0.045 35500000 1595300 DFNN INC 7.21 7.38 7.38 7.38 7.38 7.38 60000 442800 IMPERIAL 2.03 2.1 2.03 2.11 2.03 2.03 24000 48830 ISLAND INFO 0.13 0.133 0.137 0.137 0.129 0.13 14250000 1867650 ISM COMM 5.96 5.97 6 6.15 5.9 5.97 4880600 29265808 JACKSTONES 3.11 3.31 3.2 3.34 3.11 3.29 79000 248110 NOW CORP 3.01 3.04 3.04 3.06 3 3.01 1648000 4970990 TRANSPACIFIC BR 0.44 0.445 0.445 0.455 0.44 0.445 9380000 4181950 PHILWEB 3.05 3.08 3.13 3.13 3.05 3.05 1556000 4782510 2GO GROUP 13.06 13.1 13.12 13.48 13.1 13.1 25500 335020 CEBU AIR 84.4 84.5 84 84.95 82.2 84.5 50660 4231987.5 CHELSEA 6.09 6.1 6.11 6.2 6.07 6.09 1057100 6452866 INTL CONTAINER 117 117.8 118.8 119.3 117.5 117.8 2746210 324373937 LBC EXPRESS 15.14 15.8 15.2 15.2 15.04 15.04 500 7536 LORENZO SHIPPNG 0.89 0.91 0.89 0.92 0.89 0.89 239000 213240 MACROASIA 19.78 19.88 20 20 19.78 19.88 825900 16452772 METROALLIANCE A 2.04 2.05 2.07 2.09 2.05 2.05 268000 552700 METROALLIANCE B 2.1 2.16 2.1 2.1 2.1 2.1 50000 105000 PAL HLDG 10.9 10.94 11.2 11.2 10.7 10.9 167700 1831244 HARBOR STAR 2.82 2.83 2.9 2.91 2.82 2.82 855000 2433390 ACESITE HOTEL 1.29 1.34 1.31 1.31 1.29 1.29 255000 330410 BOULEVARD HLDG 0.067 0.068 0.067 0.068 0.066 0.068 18540000 1247440 GRAND PLAZA 11.22 11.7 11.06 11.22 11.06 11.22 8900 99842 WATERFRONT 0.71 0.72 0.72 0.72 0.7 0.72 1783000 1267980 FAR EASTERN U 890.5 915 890 890 890 890 50 44500 IPEOPLE 10.9 11.36 11 11 10.88 10.88 2200 23960 STI HLDG 0.73 0.74 0.71 0.75 0.69 0.73 10624000 7639410 BERJAYA 2.95 3.05 3.05 3.05 2.9 3.05 497000 1490050 BLOOMBERRY 12.56 12.6 12.88 12.88 12.5 12.6 11576400 147229318 PACIFIC ONLINE 9.23 9.31 9.31 9.31 9.25 9.25 5100 47181 LEISURE AND RES 3.25 3.28 3.29 3.29 3.23 3.27 578000 1880700 PH RESORTS GRP 5.07 5.08 5.2 5.2 5.06 5.08 211300 1089958 PREMIUM LEISURE 0.93 0.94 0.98 0.98 0.93 0.93 10366000 9770230 TRAVELLERS 5.6 5.62 5.56 5.6 5.54 5.6 495900 2766520 METRO RETAIL 2.97 2.98 3.11 3.23 2.97 2.98 5132000 16006180 PUREGOLD 47.1 47.2 48 48 46.7 47.2 2952400 139393065 ROBINSONS RTL 86 86.75 88.5 88.55 86 86 725960 63263647 PHIL SEVEN CORP 130 132 133 133 125 132 8130 1035557 SSI GROUP 2.13 2.14 2.09 2.16 2.09 2.14 12754000 27158240 WILCON DEPOT 14.56 14.6 14.98 14.98 14.46 14.56 2032900 29666330 APC GROUP 0.44 0.445 0.45 0.45 0.44 0.44 3370000 1492700 EASYCALL 15.2 15.22 15 15.96 15 15.2 354100 5470496 GOLDEN BRIA 358 359.8 355 360 350 360 500 178954 PAXYS 3.23 3.37 3.31 3.38 3.14 3.38 44000 144800 PRMIERE HORIZON 1.3 1.31 1.36 1.39 1.27 1.31 56394000 74223190 SBS PHIL CORP 8.94 8.95 8.91 8.99 8.87 8.94 176000 1571618 MINING & OIL ATOK 13.06 13.7 13.8 13.8 13.72 13.8 3900 53728 APEX MINING 1.5 1.52 1.5 1.52 1.5 1.52 810000 1224800 ABRA MINING 0.0021 0.0022 0.0022 0.0022 0.0021 0.0022 996000000 2105400 ATLAS MINING 2.95 3.05 2.96 2.96 2.95 2.95 266000 785950 BENGUET A 1.29 1.47 1.29 1.29 1.29 1.29 60000 77400 BENGUET B 1.2 1.37 1.19 1.19 1.19 1.19 1000 1190 COAL ASIA HLDG 0.305 0.31 0.305 0.305 0.3 0.3 320000 96500 CENTURY PEAK 2.2 2.22 2.17 2.24 2.17 2.19 701000 1536650 DIZON MINES 8.11 8.16 8.17 8.25 7.95 8.12 8400 68859 FERRONICKEL 1.5 1.51 1.52 1.56 1.5 1.51 2044000 3093290 GEOGRACE 0.28 0.29 0.31 0.31 0.28 0.28 3620000 1042350 LEPANTO A 0.125 0.13 0.13 0.13 0.125 0.13 1200000 150560 LEPANTO B 0.133 0.134 0.13 0.13 0.13 0.13 40000 5200 MANILA MINING A 0.009 0.0095 0.009 0.0096 0.009 0.0096 13000000 117600 MANILA MINING B 0.0091 0.0098 0.0094 0.0099 0.0091 0.0099 26000000 243700 MARCVENTURES 1.09 1.14 1.14 1.17 1.09 1.14 645000 733600 NIHAO 1.07 1.1 1.16 1.16 1.08 1.1 147000 159730 NICKEL ASIA 2.72 2.73 2.75 2.8 2.72 2.73 3985000 10975250 OMICO CORP 0.65 0.7 0.7 0.7 0.65 0.68 1806000 1217830 ORNTL PENINSULA 1.01 1.02 1.02 1.03 1 1.01 161000 162450 PX MINING 4.1 4.15 4.2 4.2 4.08 4.15 690000 2831730 SEMIRARA MINING 22.5 22.7 22.8 22.95 22.5 22.5 1136700 25641680 UNITED PARAGON 0.008 0.0084 0.0082 0.0084 0.0081 0.0084 20000000 163800 ORNTL PETROL A 0.012 0.013 0.013 0.014 0.013 0.013 355100000 4622200 ORNTL PETROL B 0.012 0.013 0.013 0.013 0.012 0.013 289000000 3607000 PHILODRILL 0.012 0.013 0.012 0.012 0.012 0.012 171900000 2062800 PHINMA PETRO 3.29 3.57 3.46 3.58 3.29 3.29 9000 30070 PXP ENERGY 14.08 14.1 14.1 14.12 14.04 14.08 512300 7211124

PREFFERED HOUSE PREF A AC PREF B1 AC PREF B2 ALCO PREF B DD PREF SMC FB PREF 2 FGEN PREF G GLO PREF P GTCAP PREF B LR PREF MWIDE PREF PNX PREF 3A PCOR PREF 2A SFI PREF SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2I

95.05 475.2 480 100 96.7 965 103.5 484 899 0.99 100 100.1 971 1.77 75.1 76 73.8 73 75 73.1 73.3

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR

20.55 1.93

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.87 XURPAS 1.45

117.1

-943650 -78750 -39059870 -42115630.5 12391378 1007770 1825044 3791124 2297280 16450 -37350760 10802592.4999 747648 -1029298 -21107990 82700 -1049110 13500 82620 -57885650 57897335 -265548 26000 133500 -181749760 -1008260 -10200 -455099.9998 25000 -2117110 152200 -3186520 -319772 9250 161797959 -123200 50942635 28450 -127671675 -490245 -272805083 -63333375 -3817650 4500 -2757650 -214680 -313600 61600 1038625.5 297850 132215502 7949110 41300 150600 7800 -277019.9999 -77950 -63411482 162250 514950 -808695 -4880 32781055 56768751 47897 4546850 -11008820 378400 -21786 -620789.9998 830306 -453000 -17760 -847790 -76010 56999.9999 109000 75600 -197970 -336240 -2222405 -1807000 -1162992

95 474.8 498 102 97 962 103.5 496.8 900 1 100 100.1 998 1.8 75.1 76.6 73.8 73.3 75.4 74 73.5

96 475.2 498 102 97 965 104 496.8 900 1 100 100.1 998 1.82 75.5 76.6 73.8 73.3 75.4 74 73.5

95 474 480 102 97 962 103.5 496.8 900 0.99 100 100.1 998 1.8 75 76 73.8 73.1 75.05 74 73.5

96 475.2 498 102 97 965 103.5 496.8 900 0.99 100 100.1 998 1.82 75.5 76 73.8 73.1 75.05 74 73.5

1500 1180 6610 90 38540 500 12760 100 610 70000 130 180 50 18000 31870 159870 500020 12000 10530 1350 78360

143850 560440 3189000 9180 3738380 481900 1320710 49680 549000 69500 13000 18018 49900 32460 2391932 12182537 36901476 878000 792734 99900 5759460

1210950 495000 29700 -32460 15259.9998 731800 -

20.7

20.65

20.55

106800

2197140

-76070

1.96

1.92

1.93

1.92

1.93

33000

63580

4.88 1.46

4.72 1.56

4.95 1.62

4.7 1.38

4.87 1.46

1012000 65607000

4918280 98773080

-246810 -19610250

EXHANGE TRADE FUNDS FIRST METRO ETF

9302070 -10470695 253578.5 -24551026 -4946035 16262061 -32250 -5960 2140850 -26000 5862556 196322 1174240 -33802 -13840166 196360 -45588507 147860 -68095926 1162480 -257750 8060832 -118000 -4273153 -326620 45000 -1873310 -102238 -18665023 11520139 250264870 -22000 75850 64260 17500 58676 -3024360 4438868 -15210 -382100

96 475.8 498 101.9 97 992 104 496.8 900 1 102 101 995 1.8 75.5 76.6 73.85 73.1 75.05 74 73.5

WARRANTS LR WARRANT

-254586987 3688302.5 587165 -1006396 27024400 4627370 -62212.5 5296000 9017432 -195.5 313946 -12980 105414 -

117.2

117.5

118

117

117.1

3810

447416

163049

Editor: Efleda P. Campos

STI buys seafarer school

By VG Cabuag

@villygc

TI Education Services Group Inc. on Tuesday said it is buying NAMEI Polytechnic Institute, a school for seafarers. “NAMEI offers courses in Maritime Transportation, and Marine Engineering and Naval Architecture,” the company said in its disclosure. It did not disclose the amount of its acquisition. STI said its NAMEI campus will be housed in the newly constructed STI Academic Center Santa Mesa along P. Sanchez Street, Metro Manila. With an estimated value of P727 million, the 10-story building stands on a 3,691-square-meter property

and can accommodate 9,000 senior high school and college students. The new campus will be operational this school year 2019-2020 and is equipped with industry-grade laboratories, simulation rooms, a basketball court and a student activity center. “We are very happy with the addition of NAMEI to STI ESG’s institutional roster,” company President and COO Peter K. Fernandez said. “It is an opportunity for us to in-

troduce exciting changes and transform NAMEI into an educational powerhouse whose students will bring pride not only to their alma mater but also to the country.” The acquisition is a strategic move to boost the institution’s soughtafter courses that emphasize academic excellence, and practical and industry-driven skills that will produce more world-class professionals in various fields particularly in information-technology programs for maritime, such as networking and communications, cyber security, and IT maintenance and services to keep up with the ever-changing demands in the seafaring industry. It is also exploring a partnership with one of the biggest crew companies in the world to further train aspiring hospitality and culinary professionals. A growing number of

Filipinos also provide housekeeping, guest relations, culinary, front office, and other maintenance services on cruise ships and floating casinos. “A good number of Philippine maritime education and training institutes continue to hone the skills development of our seafarers. It is high time we complemented this with high-quality education to prepare a new generation of seafarers who are ready to join global cruise companies,” Fernandez said. “This is not only a step forward for the STI community, but is also a progress for the future of education, especially for aspiring and young seafaring talents. What we are looking at right now is not merely a growth for both the STI network and the students, but also an expansion of the courses and programs that many will benefit from,” he said.

Firm expands LPG operations to South PHL

HILE other market players are registering declines in growth, South Pacific Inc.’s (SPI) market share continues to go up. SPI has steadily expanded its market share from a mere 3 percent or 38,000 metric tons in 2015 to 13.6 percent or 218,000 MT in 2017. In 2018, the numbers jumped as SPI snared 16 percent of the market, positioning itself as a strong third among the country’s major players, in just four years in the industry. SPI, a 100-percent Filipinoowned company, owns and operates the biggest liquefied petroleum gas (LPG) storage in the Philippines. SPI’s terminal in Luzon, strategically located in Calaca, Batangas,

has a storage capacity of 22,000 MT. To date, it has 11 surfacemounded tank storages, eight Gantry Bay for truck loading, and Marine Loading Arm for faster and efficient product receiving. Because of SPI’s large storage capacity and ample draft, it is capable of receiving refrigerated cargoes from very large gas carriers, making the company the most competitive gas cost in the country. The company’s rapid growth, the steadily increasing demands of the market, and the success of its Calaca terminal have given impetus to an aggressive expansion plan. Recently, SPI has widened its reach to Southern Philippines with the construction of the SPI Cebu terminal.

Ayala Land renames Prime Orion

YALA Land Inc. on Tuesday said it is changing the name of Prime Orion Philippines Inc. (Popi), a company that has landholdings in economic zones and in Tutuban in Divisoria in Manila. In its disclosure to the Philippine Stock Exchange, the board of the country’s second-largest property developer approved to rename Popi into Ayala Land Logistics Holdings Corp., with ALL as its new stock symbol. The company said it is renaming Popi “to align with the company’s vision to be the leading real-estate logistics and industrial estate developer and operator in the Philippines.” The move will be up for approval during its annual stockholders’ meeting in April. Ayala Land controls Popi after

it bought a 51.06-percent stake in the company in February 2016. It now owns some 63.9 percent in the company. Originally named Philippine Orion Properties Inc., the company was incorporated on May 19, 1989, as an investment holding company. The merger of the company with First Lepanto Corp. paved the way for the entry of the Guoco Group of Hong Kong through its affiliate, Guoco Assets (Philippines) Inc., as principal shareholder of the company. In 1994, the company was renamed as Guoco Holdings (Philippines) Inc., but again changed its name to the present one on January 4, 2002. The company earlier said it is diversifying its real-estate portfolio that now includes industrial park and property logistics. VG Cabuag

Creba course in St. Benilde’s

HE Chamber of Real Estate & Builders’ Associations Inc. (Creba) and De La Salle College of Saint Benilde School of Professional and Continuing Education (DLS-CSB SPACE) will open the certificate course “Real Estate Planning, Development and Environmental Concerns” on Saturday, February 23, 2019. The course is the third of six modules under the Executive Diploma Program in Real Estate Management offered by the two institutions since 2002. Creba, headed by National President Noel Toti M. Cariño, is the Philippine umbrella organization of the real-estate and housing industry composed of property developers, builders, contractors, suppliers and manufacturers of construction materials, real-estate service practitioners and other professionals and entities engaged in over 70 allied fields.

Classes will be held at the ninth floor of the CSB School of Design and Arts Campus, P. Ocampo Street, Manila, from 1 p.m. to 8:30 p.m. and will run for four consecutive Saturdays until March 16. The four-week course will cover the following topics: Types of Property Development; Residential Subdivisions including High-rise and Mid-rise buildings, Townhouses and Subdivisions; Water Supply and Sanitation; Ecological Solid Waste Management; Climate Change Adaptation & Disaster Risk Reduction for Real Estate Projects; Administration, Control and Technical Aspects of the Construction Process; Green Technology and Sustainable Development for Housing; Industrial Estates and Ecozones; DENR and other environmental requirements for Real Estate Development; and Farm and Leisure Estates.

MUTUAL FUNDS

February 19, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 264.48 -9.47% 3.04% 3.11% 4.86% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5857 -1.7% 13.21% 4.87% 10.06% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1257 -10.33% 4.5% 1.78% 5.71% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.943 -4.55% N.A. N.A. 5.9% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.86 N.A. N.A. N.A. 4.79% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.5155 -7.27% 3.24% 2.54% 4.64% MBG EQUITY INVESTMENT FUND, INC. -A 123.69 5.54% N.A. N.A. 6.21% ONE WEALTHY NATION FUND, INC. -A 0.8767 -10.78% -3.54% N.A. 5.32% PAMI EQUITY INDEX FUND, INC. -A 51.9861 -7.93% 4.24% N.A. 5.65% PHILAM STRATEGIC GROWTH FUND, INC. -A 543.43 -7.62% 3.1% 2.49% 5.57% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.31 -6% 4.42% 5.44% 4.47% PHILEQUITY FUND, INC. -A 38.6207 -6.16% 5.44% 5.02% 5.43% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0309 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2542 -7.8% 5.03% 4.99% 5.96% PHILIPPINE STOCK INDEX FUND CORP. -A 877.06 -7.67% 4.8% 4.98% 5.86% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9056 -6.32% 2.86% N.A. 5.16% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2943 -6.77% 4.86% 3.79% 5.8% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.009 -8.05% 4.73% N.A. 5.73% UNITED FUND, INC. -A 3.679 -4.37% 6.46% 4.34% 5.08% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.2715 -7.36% 5.93% 6.08% 5.89% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9875 -12.18% 8.32% 1.06% 6.29% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2309 -3.55% N.A. N.A. 11.38% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7193 -6.72% 0.37% -0.35% 4.12% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2987 -6.18% 2.56% 1.57% 4.05% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6364 -4.77% 0.87% -0.57% 3.64% GREPALIFE BALANCED FUND CORPORATION -A 1.3531 -7.13% N.A. N.A. 3.74% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.907 -3.89% 2.3% 2.35% 3.47% PAMI HORIZON FUND, INC. -A 3.6283 -6.66% 0.88% 1.33% 2.81% PHILAM FUND, INC. -A 16.4249 -5.81% 1.17% 1.41% 3.25% SOLIDARITAS FUND, INC. -A 2.1406 -4.65% 2.51% 3.16% 3.3% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8165 -5.03% 2.34% 2.38% 4.52% 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 0.9839 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9833 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.968 -5% 1.98% N.A. 5.02% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.0357 2.15% 0.29% 1.81% 1.28% PAMI ASIA BALANCED FUND, INC. -A $0.9695 -9.01% 4.98% -0.5% 3.56% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.5764 -2.45% 6.72% 2.09% 8.1% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0634 -4.31% N.A. N.A. 5.29% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 345.42 2.33% 2.04% 2.15% 0.59% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8617 -0.98% -0.48% -0.29% 0.13% COCOLIFE FIXED INCOME FUND, INC. -A 2.9907 5.48% 5.28% 5.27% 0.67% EKKLESIA MUTUAL FUND INC. -A 2.1464 1.8% 1.28% 1.88% 0.75% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2278 0.61% 0.29% 0.66% 0.84% GREPALIFE FIXED INCOME FUND CORP. -A P 1.5949 -1.19% -0.44% 0.33% 1.95% PHILAM BOND FUND, INC. -A 3.9213 -1.81% -0.98% 0.43% 0.04% PHILEQUITY PESO BOND FUND, INC. -A 3.5766 2.45% 0.78% 1.15% 1.69% SOLDIVO BOND FUND, INC. -A 0.9099 -0.1% -0.53% N.A. 1.94% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.831 1.5% 1.03% 1.54% 2.35% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5726 1.13% 0.58% 1.07% 2.12% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $450.9 2.07% 2.13% 3.01% 0.58% ALFM EURO BOND FUND, INC. -A Є214.48 0.91% 1.38% 1.58% 0.86% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1482 2.58% 1.4% 2.27% 1.99% 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 $1.6978 -1.62% -0.93% 0.99% 0.45% 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 0.36% -1.08% -2.36% 1.17% PHILAM DOLLAR BOND FUND, INC. -A $2.2198 2.43% 0.83% 2.88% 2.24% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0573968 1.13% 0.98% 1.81% 0.73% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9295 -0.34% 0.2% 2.03% 2% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 121.7 3.25% 2.05% 1.69% 0.71% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0021 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1863 2.21% 0.85% 0.6% 0.37% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2253 2.89% 2.37% 1.71% 0.52% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0192 1.96% N.A. N.A. 0.32% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

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

The World BusinessMirror

China’s economy czar heading to Washington for trade talks T

Wednesday, February 20, 2019

Honda to shutter plant in Britain

EIJING—China’s economy czar is heading to Washington for talks on Thursday and Friday aimed at ending a fight over Beijing’s technology ambitions ahead of a deadline for a massive US tariff hike. The announcement on Tuesday via the official Xinhua News Agency follows talks last week in Beijing that US Trade Representative Robert Lighthizer said “made headway” on key issues. Xinhua said Vice Premier Liu He will hold talks with Lighthizer and Treasury Secretary Steven Mnuchin. Business groups and economists saw Friday’s sur prise announcement of f ur ther ta lks this week as a sign they were making progress. Both governments have expressed optimism but they have given no details of their talks. Economists say the time available for negotiations is too brief to resolve an array of irritants in US-Chinese relations. They say Beijing’s goal is to persuade President Donald Trump they are

making enough progress to push back threatened US penalties. Beijing hopes for “a mutually beneficial and win-win agreement that is acceptable to both sides,” said a foreign ministry spokesman, Geng Shuang. W it hout a n a g re e me nt , a 10-percent tariff increase imposed in July on $200 billion of Chinese goods is due to rise to 25 percent on March 2. Last Friday, Lighthizer told the Chinese president, Xi Jinping, the two sides “made headway on very, very important and difficult issues.” Trump imposed the penalties over complaints Beijing steals or pressures foreign companies to hand over technology. The talks also include complaints about Beijing’s plans for government-led technology development, cyber spying and China’s trade surplus. Beijing retaliated with higher duties on US goods and told its importers to find other suppliers. T hat led to a 40 -percent drop in Chinese imports

IN this February 15, 2019, file photo, Chinese Vice Premier Liu He (right) talks with US Trade Representative Robert Lighthizer, while they line up for a group photo at the Diaoyutai State Guesthouse in Beijing. China’s economy czar is going to Washington for talks on Thursday and Friday aimed at ending a tariff war over Beijing’s technology ambitions. AP PHOTO/MARK SCHIEFELBEIN

of A merican goods in Januar y. Washington, Europe, Japan and other trading partners complain plans such as “Made in China 2025,” which calls for government-led creation of global competitors in robotics and other technologies, violate Beijing’s market-opening obligations. China’s leaders have offered to narrow its multibillion-dollar trade surplus with the United States by purchasing more natural gas, soybeans and other exports. But they are resisting pressure to

Trump demands end to Maduro regime in broad attack on socialism

ONALD J. TRUMP called on the Venezuelan military to drop its support for Nicolas Maduro in a Miami speech critical of socialism, previewing attacks he may deploy against Democrats in his reelection campaign. “The twilight hour of socialism has arrived in our hemisphere and frankly, in many, many places around the world,” Trump said to an audience at Florida International University (FIU). “The days of socialism and communism are numbered, not only in Venezuela but in Nicaragua and in Cuba, as well.” Republicans have portrayed Democratic proposals to expand government-run health insurance programs and combat climate change as socialist, and Trump used Maduro’s example in his State of the Union speech earlier this month to caution against the perils of socialism and the policies of US liberals. In his speech on Monday, Trump didn’t directly link socialism to the Democratic Party or any of its politicians, but he repeatedly vowed to keep the ideology from taking hold. “This will never happen to us,” Trump said. “Socialism is a sad and discredited ideology, rooted in the total ignorance of history and human nature, which is why socialism eventually must always give rise to tyranny, which it does.” The Western hemisphere, he said, “will become the first free hemisphere in all of human history,” predicting the fall of Socialist regimes in Cuba and Nicaragua. Trump’s antipathy for socialists extends only so far. He will travel to Communist Vietnam next week to meet with another Communist, North Korean leader Kim Jong Un. Trump has said he and Kim have “a very good relationship” and that if they can secure a deal to eliminate Pyongyang’s nuclear arsenal, Kim will make his country an “economic powerhouse.”

Venezuela ‘options’

LAST month, the US and more than 30 other countries recognized Venezuela’s National Assembly leader Juan Guaido as the interim president of the country. The Trump administration has moved swiftly to try to shore up Guaido’s governmentin-waiting, but is struggling to move

promised humanitarian aid into Venezuela with Maduro retaining control over the military. Trump demanded that the Venezuelan military stop blocking the aid. “We seek a peaceful transition of power but all options are open,” he warned. Guaido has asked the Venezuelan military to throw its support to him, and has called Maduro’s 2018 reelection illegitimate. He spoke at the FIU event by video before Trump appeared and thanked the president “for his determination and clear leadership in support of democracy and just causes in response to what is happening now in Venezuela.” Maduro is clinging to power, even as Trump’s envoy for Venezuela, Elliott Abrams, told Congress this month that the administration maintains “the current political and economic environment is unsustainable and he will not be able to weather it much longer.” Trump warned Venezuelan military officials that “we know who they are and we know where they keep the billions of dollars that they have stolen.

“They are risking their lives and Venezuela’s future for a man controlled by the Cuban government,” Trump said. He urged the military to take Guaido’s offer of amnesty. Trump’s speech in Miami capped a Presidents Day holiday weekend spent at his Mar-a-Lago resort in Palm Beach and his nearby golf club, in a swing state where the Latino vote, including Venezuelan expats, is a key bloc. Democrats are also eyeing the Latino vote in Florida, especially the state’s growing Puerto Rican population. Trump was heavily criticized for his administration’s response to 2017’s Hurricane Maria, and thousands of residents who fled the island after Maria now reside— and can vote—in Florida. Bloomberg News

scale back industry plans they see as a path to prosperity and global influence. Other stumbling blocks include Chinese resistance to US pressure to accept an enforcement mechanism with penalties to ensure Beijing carries out whatever commitments it makes. Trump said last week he might be willing to push back the March 2 date if the talks go well but Washington has yet to say whether the negotiations are making enough progress. AP

O K YO — H o n d a s a i d Tuesday it plans to close its car factory in western England in 2021, imperiling 3,500 jobs in a fresh blow to the British economy as it faces its March 29 exit from the European Union. The Japanese automaker announced the decision at a news conference in Tokyo, where Honda’s president and CEO, Takahiro Hachigo, told reporters the decision was based on what made most sense for its global competitiveness in light of the need to accelerate its production of electric vehicles. Brexit was not the main factor behind the decision, he insisted. “We still don’t know what sort of changes Brexit will bring at this point,” he said. “We have to wait until we have a better idea about the situation.” Hachigo said the company immediately would begin discussions with affected workers at the factory in Swindon. “I very much regret this,” he said, adding that “this was the best choice under the circumstances.”

Honda makes its popular Civic model at the factory, 115 kilometers (70 miles) west of London, with an output of 150,000 cars per year. Its restructuring is aimed at adjusting its operations to ref lect stronger demand in Asia and North America, Hachigo said. The next model of Civic to be sold in Britain will be exported from Japan, the company said. The company said it will also adjust its operations in Turkey, where it makes 38,000 Civic sedans a year. It said it would continue operating there and hold a “constructive dialogue” with local stakeholders. British businesses are issuing increasingly urgent warnings about the damage being done by the uncertainty around Brexit. The UK has yet to seal a deal laying out the divorce terms and establishing what trade rules will apply after Brexit. In presenting the restructuring plan, Hachigo stressed that Honda was striving to adjust to a fast-changing global industry. “ We have to move more quickly,” he said. AP

B4 Wednesday, February 20, 2019

SHERATON MANILA EXTENDS 50% OFF ON BREAKFAST BUFFET AT S KITCHEN!

ORNINGS just got better! The newly opened Sheraton Manila Hotel extends 50 percent off on breakfast buffet until March 15. The widespread buffet at Sheraton Manila is fit for royalty at only P725. Catch morning staples, such as sausages, corned beef, honey-glazed ham, baked beans and, of course, crispy bacon. The smell of freshly baked breads fill the entire restaurant while the assortment feeds any appetite, from whole wheat, gluten-free, and flavored muffins and croissants. Several interactive live stations will get anyone in the mood, with eggs cooked as desired or omelets stuffed with any preferred condiments. Pancakes, waffles and French toasts are personalized to please with multiple toppings or syrups to choose from. What’s not to skip are the Filipino dishes—definitely S Kitchen’s best! It’s like waking up at home—a 5-star one— with comforting local favorites, such as pork tocino, beef tapa, daing na bangus, tortang talong, and longganisang Lucban and Vigan. To warm up, there are arroz caldo and champorado made from rich cacao. Breakfast a la Filipino is definitely not complete without the side dishes, including steamed okra, bagoong, tofu, dilis, chicharon, atchara, and the list goes on! Balikbayans and

TURNING BASECO INTO A MODEL SITE In line with her advocacy to make Baseco Compound in Tondo, Manila, a model site for community rehabilitation, Sen. Cynthia Villar leads the distribution of fishing boats, tri-bikes and kitchen utensils to its residents and tree planting in the area. The senator, chairman of the Senate Committees on Agriculture and Food and Environment and Natural Resources, was joined by representatives from the departments of environment and natural resources, education, and public works and highways, Metropolitan Manila Development Authority, Kabalikat sa Kaunlaran ng Baseco, MBC-DZRH and Gasangan barangay officials. The senator, seeking re-election in May, has been known for providing livelihood opportunities on top of espousing a clean and green environment.

foreign travelers alike are in for a treat as they relish on how Filipinos start their day. If these sound like a lot already, well that’s just half of what S Kitchen has to offer. It’s a buffet experience after all with the salad bar, cold cuts, cheeses, fresh seafood, cereals and dim sum. Discerning palates will enjoy other international cuisines from the Asian and Indian stations. Adding an exclamation point are the booster drinks

from freshly squeezed fruits, such as Slim and Trim (celery and green apple) and Berry Lean (banana, raspberry and orange). How can your day go wrong with that kind of breakfast experience? There is no way anymore. Time to put this at the top of your to-do list or bring those morning meetings over at Sheraton. Formoreinformationandrevservations, visit www.sheratonmanila.com.

C.R.E.B.A. OPENS SHORT-TERM REAL-ESTATE COURSE ON FEB. 23

HE Chamber of Real Estate and Builders’ Associations Inc. (Creba) and De La Salle College of Saint Benilde School of Professional and Continuing Education (DLS-CSB SPACE) opens real-estate planning, development and environmental concerns certificate course on February 23. The course is the third of six modules under the Executive Diploma Program in Real Estate Management offered by the two institutions since 2002. Classes will be held at the ninth floor of the CSB School of Design and Arts Campus from 1 to

8:30 p.m. and will run for four consecutive Saturdays, until March 16. The four-week course will cover the following topics: types of property development; residential subdivisions including high-rise and mid-rise buildings; townhouses and subdivisions; water supply and sanitation; ecological solid-waste management; climate-change adaptation and disaster risk reduction for real-estate projects; administration, control and technical aspects of the construction process; green technology and sustainable development for housing; industrial estates

and ecozones; other environmental requirements for real estate development; and farm and leisure estates. Other courses offered for the rest of the year cover real-estate marketing tools, land laws and property titling, highest and best uses for real estate, real-estate financial planning and management, and real-estate project-feasibility studies. Discounts are available for Creba members, government personnel and DLSU alumni. For inquiries, e-mail at creba_national@yahoo. com or space@benilde.edu.ph.

BALLET MANILA PRESENTS 23RD PERFORMANCE SEASON FINALE Ballet Manila recently gave a sneak peek on its newest double-header “Deux”, where classical meets contemporary ballet. The first chapter of the show will feature the dreamy white ballet that is “Les Sylphides” and will then transport the audience to the rock and roll beats of “The Winding Road” set to the music of the Beatles. Photo shows Ballet Manila Chief Executive Officer and artistic director Lisa Macuja-Elizalde (center) with Ballet Manila co-artistic director Osias Barroso and “The Winding Road” choreographer Martin Lawrance (third and fourth from left, respectively), and principal dancers (from left) Rudy de Dios, Joan Sia, Gerardo Francisco, Romeo Peralta and Elpidio Magat. Deux will run on March 2 and 9 at 6 p.m., and March 3 and 10 at 3 p.m. at the Aliw Theater. For tickets, visit www.bit.ly/balletmaniladeux.

THREE WINNERS RECEIVE CASH, GUIDANCE TO IMPLEMENT TOTAL CHALLENGE ENTRIES

JURY of local experts recently selected the winners of the 2018-2019 Startupper of the Year by Total Challenge, a competition that promotes and supports the youth and their creativity by awarding financial support, coaching and visibility for the winning ideas and startups. The winners were awarded in an official ceremony held on February 8 at the Green Sun Hotel. The three winners of the Startupper of the Year by Total Challenge in the Philippines are: Mark Gersava is the Philippines’s first-ever Startupper of the Year. He is the chief executive farmer and resident research and development expert of Bambuhay, a social enterprise that creates sustainable and eco-friendly bamboo products made by individuals in poverty-stricken provinces. Bambuhay provides sustainable livelihood and employment to a growing number of Filipinos living below the poverty line, helping increase their incomes and uplifting their lives at the same time. Coming in second place is Aaron Hilomen, cofounder of Antipara Exploration Inc. His startup delves in 3D underwater geospatial mapping and analytics that use a custom-designed algorithm that can automatically analyze and assess marine resources. This technology is a scalable solution to access and map marine resources for food security and sustainability, the management of which is crucial for food security, especially in archipelagoes like the Philippines. Uproot team lead Robi del Rosario comes in third place with his urban-farming project that creates community-based farms within the city, producing natural and sustainably grown plants and fish locally, lowering food miles and ensuring freshness of produce. This community-based

agricultural effort helps make food more available, accessible and affordable, in line with their belief that no Filipino should go hungry. These young entrepreneurs will receive financial support of up to P750,000 for the first prize to develop their project. They will also receive personalized support and coaching from Impact Hub and a communications campaign to publicize their project. The winner of the Top Female Entrepreneur award, a new addition to the 2018-2019 Challenge to support women in business, is Cecilia Comia, an industrial designer who developed shift-school armchair, a modular chair made out of lightweight and durable recycled plastic that can transform and double as a makeshift bed in times of calamities. The jury also awarded the Startup for Better Energy prize to Antipara Exploration Inc. The 2018-2019 Startupper of the Year by Total Challenge, held simultaneously in 55 countries—37 of which are in Africa, 11 in the Asia-Pacific and Middle East, four in the America and three in Europe—reaffirms Total’s commitment to social and economic development in host countries worldwide. By helping innovative young entrepreneurs to realize their projects, the Challenge strengthens the local social fabric. The second Startupper of the Year by Total Challenge received nearly 50,000 entries, of which more than 15,000 were fully completed. 825 finalists presented their projects to a jury of experts, with 165 winning prizes. The first prize winner in each country will see their project presented to the international grand juries that will pick the six grand winners from all 55 countries.

HE International Association of Athletics Federations (IAAF) has denied reports it will tell the Court of Arbitration for Sport (CAS) that female athletes with high testosterone levels, such as Caster Semenya, should be classified as a biological male. South Africa’s world and Olympic 800 meters champion Semenya is challenging a proposed new rule brought in by the IAAF which, if upheld, would force her to either take medication to reduce her testosterone levels or compete against men. Semenya has called the rule—which only affects athletes competing in events between 400 meter and the mile—unfair, and the case is due to be heard at the CAS in Lausanne next week. The British newspaper The Times had claimed that when the case begins, the IAAF will argue Semenya is a biological male. The newspaper stated lawyers for the IAAF are preparing to argue that the 28-year-old twotime Olympic champion and other athletes with differences of sexual development (DSD) should be treated as female but are, in fact, biologically male. The lawyers will argue therefore, the paper claimed, that such athletes should take testosterone suppressants before competing in middle distance

ONACO—Tiger Woods, Novak Djokovic, Lindsey Vonn and the France national soccer team were among the winners at the Laureus World Sports Awards, with Woods claiming the Comeback Award 19 years after he was first recognized. Woods, who won the inaugural World Sportsman of the Year award in 2000, won the Tour Championship in

world championships, took home the Spirit of Sport Award, which is given to an athlete for relentless dedication to his or her career, and France was honored for winning the World Cup in July. Simone Biles was named World Sportswoman of the Year for winning four gold, one silver and one bronze medal at the gymnastics world

championships. Naomi Osaka won the Breakthrough Award for winning the US Open and Chloe Kim was named the World Action Sportsperson of the Year. The awards were given in recognition of outstanding sports performance in 2018. AP

events in order to level the playing field. In response, the IAAF released a statement saying it is not classifying any athlete with Semenya’s condition as male. “To the contrary, we accept their legal sex without question, and permit them to compete in the female category,” they said. They did stick to their original position, though, saying that to allow DSD athletes to compete against women with normal testosterone levels unchecked would be unfair. “If a DSD athlete has testes and male levels of testosterone, they get the same increases in bone and muscle size and strength and increases in hemoglobin that a male gets when they go through puberty, which is what gives men such a performance advantage over women,” they said. “Therefore, to preserve fair competition in the female category, it is necessary to require DSD athletes to reduce their testosterone down to female levels before they compete at international level.” Previously, the IAAF claimed athletes, such as

Semenya, competing against women is comparable to adults competing against children, so significant is the perceived advantage. Semenya’s lawyers have also responded to the piece in The Times, saying the South African is “unquestionably a woman.” They also responded to quotes attributed to the IAAF’s lawyer Jonathan Taylor, who reportedly said that if the CAS rules in Semenya’s favor, “then DSD and transgender athletes will dominate the podiums and prize money in sport,” saying her situation cannot be compared to that of transgender athletes. “There are different regulations for DSD athletes and transgender athletes,” they said in a statement. “Ms. Semenya respects the rights and interests of transgender athletes around the world. “Her case, however, is about the rights of women such as Ms. Semenya, who are born as women, reared and socialized as women, who have been legally recognized as women for their entire lives, who have always competed in athletics as women and who

should be permitted to compete in the female category without discrimination.” The proposed rule has caused significant controversy since it was first put forward by the IAAF and has been criticized by human-rights experts from the United Nations who called it “unjustifiable.” Several athletes and groups, including the Women’s Sports Foundation, are among other critics. They claimed the rule “undermines the spirit of sport.” If CAS upholds the rule, Semenya will be forced to miss much of this year’s outdoor season, including the 2019 World Championships in Doha. This is because the rule dictates athletes with her condition must take medication to reduce their testosterone levels for at least six months before competing. When she announced her legal challenge, Semenya said she just wanted to run naturally, “the way I was born.” “I am Mokgadi Caster Semenya,” she said. “I am a woman and I am fast.” Insidethegames

IAAF exercises caution on Semenya case

September for his 80th Professional Golfers Association Tour title and his first since August 2013. Djokovic matched Usain Bolt’s record by being named World Sportsman of the Year for the fourth time after winning Wimbledon and the US Open. He also earned the honor in 2012, 2015 and 2016. Vonn, who retired during the recent Alpine skiing

Woods, Djokovic, Vonn grab Laureus World Sports Awards M

THE spotlight is on Tiger Woods (right), Lindsey Vonn and Novak Djokovic. AP

| Wednesday, February 20, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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AUSANNE, Switzerland—The longtime standoff between Olympic champion Caster Semenya and track and field’s governing body over issues of gender, hormones and performance in sports reached a pivotal phase on Monday, as a key tribunal began hosting a planned five-day hearing in a case that could have massive repercussions throughout sports. The two-time 800-meter gold medalist from South Africa came and went from the offices of the Court of Arbitration for Sport (CAS) on Monday without addressing reporters after a marathon opening session, but her legal team and International Association of Athletics Federations (IAAF) lawyers were still jockeying for position in the court of public opinion. Both sides acknowledged that the ruling in the case—which isn’t expected until late March—could have huge implications, notably over where to draw the line between the genders and how to ensure fairness in top-tier competition. Semenya’s lawyers issued a statement during the 10-hour session criticizing the IAAF’s release of a list of names of five experts that they planned to put forward to make their case. Her legal team said that maneuver violated the spirit of confidentiality over the proceedings “in an effort to influence public opinion.”

The Associated Press

By Jamey Keaten

Her team of four lawyers said that it had received the three-judge panel’s OK to release the names of its own experts on Tuesday. Insisting on the need for fairness, the IAAF defended “eligibility standards that ensure that athletes who identify as female but have testes, and testosterone levels in the male range, at least drop their testosterone levels into the female range in order to compete at the elite level in the female classification.” The IAAF has proposed eligibility rules for athletes with hyperandrogenism, a medical condition in which women may have excessive levels of male hormones such as testosterone. Semenya wants to overturn those rules. The scheduled five-day appeal case is among the longest ever heard by the sports court. CAS Secretary-General Mathieu Reeb expressed hope for a decision by the three-judge panel by the end of March. Neither of the delegations spoke on the way out of Monday’s proceedings. “The core value for the IAAF is the empowerment of girls and women through athletics,” IAAF President Sebastian Coe said as the day began. “The regulations that we are introducing are there to protect the sanctity of fair and open competition.” A colleague then pulled Coe away from reporters and said he wouldn’t say more. The IAAF wants to require women with naturally elevated testosterone to lower their levels by medication before being allowed to compete in world-class races from 400 meters to 1 mile. Reeb said the case was “unusual and unprecedented” and said the decision “will be important.” South African lawyer Norman Arendse, who is helping present the case for Semenya, called it “a highly confidential process.”

Cricket South Africa (CSA) and the country’s national women’s football team, meanwhile, have both pledged their support for fellow South African Semenya. In October last year three human-rights experts from the United Nations wrote an open letter to the IAAF calling their proposal “unjustifiable,” while the group Human Rights Watch (HRW) has labeled it discriminatory. South Africa’s Sports Minister Tokozile Xasa echoed HRW’s stance and now both CSA and the South African women’s football team have weighed in on the issue. “We stand here as the cricket fraternity joining all the voices throughout the world, to denounce the IAAF Gender Regulations as an act of discrimination against women in sport,” CSA chief executive Thabang Moroe said in a statement posted on their web site. “We state categorically and emphatically that women like Caster, who is born with intersex variations, should enjoy the same rights and dignity as all women. “We honor, celebrate and recognize the equality of all women in sport.” He continued by calling on “all morally astute global citizens” to back Semenya in her case. “This attempt at systematically ostracizing potential and talent should be condemned to the strongest terms,” Moroe added. “Together, let’s hit gender discrimination for six.” The women’s football coach Desiree Ellis, meanwhile, called Semenya an inspiration for her side. “Caster has been very brave and strong, through all the challenges she’s faced she’s come out on top,” Ellis said. “So, her strength inspires us. “She’s our beacon of hope, going out there and competing with the top athletes in the world and coming out on top.” With Insidethegames

SPORTS’ FUTURE LIES IN BALANCE

CASTER SEMENYA (left) and her lawyer Gregory Nott arrive for the first day of a hearing at the international Court of Arbitration for Sport in Lausanne. AP

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PHILIPPINE Basketball Association Commissioner Willie Marcial, Board Chairman Ricky Vargas and basketball federation Head Al Panlilio will cheer for June Mar Fajardo and the Filipino dribblers in their two away games.

HILIPPINE Basketball Association (PBA) Commissioner Willie Marcial and Board Chairman Ricky Vargas led the delegation that flew to Qatar on Tuesday, optimistic they would cheer for a Team Philippines that would try to secure a berth in the 2019 Fiba World Cup. “I have talked to Coach Yeng Guiao, and he is confident we can win and make the World Cup. And I believe him,” Marcial said. All the members of the PBA board, except Magnolia’s Rene Pardo, are with the group to provide morale support for team as it tangles with Qatar on Thursday in Doha and Kazakhstan on Sunday in Astana. “We all know that the team is made up of PBA players. So the entire board is flying to Qatar to support the team. We all know in the board how important these two games are for us. We want to win these games,” said Al Panlilio, Meralco’s representative to the PBA board and also the president of the Samahang Basketbol ng Pilipinas. “I have talked to Coach Yeng and Andray Blatche separately. They know the task at hand for us. For us to control our destiny, we have to win these two games,” Panlilio said. “We’re confident especially with Andray Blatche back.” The Nationals and Qataris square off at the AlGharafa Sports Club Multi-Purpose Hall in Doha. “Hopefully, the Filipinos in Qatar would show up and make it like a home court

P.B.A. RELENTLESS IN SUPPORTING PHL FIBA CUP BID for us,” Panlilio said. “I hope everybody’s praying, supporting and following the team. We’ll be with them para maramdaman nila ang suporta natin.” Twelve PBA players make the team with Blatche and Gilas cadet Thirdy Ravena. The PBA players are June Mar Fajardo, Japeth Aguilar, Poy Erram, Raymond Almazan, Troy Rosario, RR Pogoy, Marcio Lassiter, Gabe Norwood, Paul Lee, Scottie Thompson, Mark Barroca and Jayson Castro. Pogoy, however, will still be serving a Fiba suspension in Doha but will be available for the Astana game.

NORTH’S SPEED VS. SOUTH’S SIZE

NORTH All-Star’s quickness and athleticism opposite South team’s heft and height. In a nutshell, that’s the storyline in the coming PBA All-Star game on March 31 in Calasiao, Pangasinan. After more than a month of voting among league fans, LA Tenorio, Paul Lee and Calvin Abueva were named as part of the North’s starting unit, while the South will rely on the Twin Towers combination of June Mar Fajardo and Greg Slaughter. Gunner Marcio Lassiter and Japeth Aguilar complete the North lineup.

James Yap, Mark Barroca and Scottie Thompson, meanwhile, round out the rest of South’s starting roster. Thompson and Barroca were the top vote getters among fans in the last two editions of the All-Stars, respectively. This year’s All-Star has reverted back to its old format of holding the games in just a single venue. The festivities are scheduled from March 29 to 31. For the last two seasons, the league had brought the All-Star weekend nationwide, hopping from Luzon to the Visayas to Mindanao.

Buenafe, Juntilla power Zamboanga dribblers in MPBL Datu Cup

ETERANS Ryan Buenafe and Reed Juntilla conspired when the game mattered most to tow Zamboanga to a 61-58 squeaker of Cebu in the Maharlika Pilipinas Basketball League (MPBL) Datu Cup at the Marist School Gymnasium in Marikina City on Monday night. Buenafe scored 13 points, including two marginal free throws, while Juntilla knocked in 11, the most he made in the final quarter

that turned things around for Zamboanga. His step-back trey gave his team a two-point lead, then again responded in the final 2:31 for the go-ahead, 56-54. Buenafe’s free throws in the crucial seconds sealed the game for Zamboanga, which stopped Cebu’s last offensive possession. The Sharks went to their top gun Patrick Cabahug, who let a triple loose, but missed

the target right before the buzzer that allowed Zamboanga to escape with the win. The Family’s Brand Sardines-backed Zamboanga side improved to 10-12 wonlost, good for seventh spot in the southern division of the tournament put up by Sen. Manny Pacquiao with Philipine Basketball Association legend and former Most Valuable Player Kenneth Duremdes serving as

commissioner. Zamboanga won despite getting a scoreless night from star player Harold Arboleda, who missed all of his five shots from the field. He, however, grabbed 13 rebounds. Bataan, on the other hand, scored an 81-64 win over Marikina to hike its record to 21-2 while dealing its victim its 15th loss in 23 games to virtually bomb out of the playoffs race.

Batang Pinoy Visayas leg up in Iloilo

ORE than 3,000 athletes from 67 local government units from all over the Visayas are expected to participate in the Philippine Sports Commission’s (PSC) Batang Pinoy qualifying leg, which opens in Iloilo City on Sunday. “The city and province of Iloilo have been wanting to host the Batang Pinoy, and we are glad it’s finally happening here,” said Iloilo City Youth and Sports Development Office Head Moises Salomon Jr. “Final preparations are currently being done to assist not just the athletes but also the 572 coaches and 135 delegation officials attending the games,” National Secretariat Deputy Head Paul Ycasas said.

Like in the Mindanao leg in Tagum City in Davao del Norte from February 2 to 9, the PSC’s grassroots program for in-school and out-ofschool children aged 15 or younger will feature 20 sporting events in 15 different playing venues. Ycasas identified La Paz Elementary School, Graciano Elementary School, Pison Elementary School, Montes Elementary School, Jaro Elementary School and Jalandoni Memorial National High School as the six billeting areas for athletes throughout the games. In November 2017, Cebu City topped the Visayas leg overall title with 46 gold, 59 silver and 69 bronze medals, with host Dumaguete City finishing second with 41 gold, 29 silver and 44 bronze medals.

Cordillera, Balanga spikers prevail in Tanduay tourney

SPORTSMAN Lucio “Bong” Tan Jr. extends his support to volleyball.

THE Philippine Volleyball Federation (PVF)-Tanduay Athletics Under 18 Boys and Girls Volleyball Championships proved to be another rousing success with the University of the Cordilleras of Baguio City and Balanga Volleyball Club of Bataan emerging champions over the weekend at the Tanduay Athletics Volleyball Center (formerly Cantada Center) in Taguig City. The Cordilleras spikers downed La Salle Antipolo to bag the girls title, while Bataan stamped its class over

An efficient demolition RICK OLIVARES | bleachersbrew@gmail.com

BLEACHERS’ BREW WITH a little over two minutes to play, the Bataan mark of the fourth period, the Bataan Risers’ Pamboy Raymundo ditched his man with a crossover then fed a cutting Alfred Batino for a conversion and one, 79-61, against the home side, the Marikina Shoemasters. Whatever was left of the massive crowd that filled the Marist Gym in Marikina—that hadn’t when Bataan led, 49-33—at the half filled out. The Risers won, 81-64, their seventh straight for a 21-2 record that sent Marikina to their fifth home loss in seven outings and an 8-15 record. That’s a team that quietly, and almost efficiently, is going about its business of pursuing a Maharlika Pilipinas Basketball League Datu’s Cup title. They are 6-1 when

marching into opposing teams’ home courts, and a perfect 7-0 in road games (they are 8-1 at home at the Bataan Peoples’ Center); an indication of the Risers’ toughness in the face of adversity and hostile ground. Case in point: with 22 seconds left in the second period, Batino was whistled for a traveling violation and Bataan leading 49-30. Batino hotly contested the call; a protest that took over a minute to pacify. The Marist Gym crowd, perhaps in need of a rallying point for their team that went down from the get-go, heckled Batino. Then the Shoemasters’ JC Po hit a triple off a feed by RJ Deles to whittle away three points from the deficit going into the half. And the crowd

Muntinlupa Volleyball Club in the boys final of the one-day tournament serving part of the grassroots development program of the PVF headed by Edgardo “Tito Boy” Cantada and Chairman Mikey Arroyo with the support of Tanduay Athletics Head and sportsman Lucio “Bong” Tan Jr. The more than 200 participants and officials enjoyed the first-class facilities of the center—some coming all the way from Lucban and Infanta in Quezon; Baguio City; Balanga in Bataan; San Jose

del Monte in Bulacan; Santa Rosa in Laguna; Dasmariñas in Bacoor, GMA in Cavite, as well as Muntinlupa, Antipolo, Mandaluyong, Parañaque and Pasig City. PVF officials came from Pangasinan, Quezon, Nueva Ecija, Bataan and Taguig. “It certainly gives me and my family an immense sense of fulfillment. At the end of the day, we go home very tired yet ready, once more, for the next one,” said Cantada, who made sure the participants and officials were treated to first-class food and accommodation.

seemed a tad happy that they had the last laugh going into the break. But any notion that Mariqueños felt they were back in the game were quickly dashed at the onset of the third period when the Risers’ do-it-all forward Vince Tolentino scored six straight points driving right at the heart of Marikina’s defense in spite of the presence of rugged center Jondan Salvador who also scored two buckets in that span. Those three daredevil drives showed that Bataan had no fear of coming into another team’s home court and stealing the game. It was Gary David who got Bataan off to a hot start when he knocked down his first four shots—the first two for threes and the last two deadeye long two-point bombs—for a 16-6 lead. The Yvan Ludovice started the second quarter by torching the nets for three straight triples—two with a hand on his face—for a 35-21 lead. Then came Tolentino’s early third quarter explosion that had Marikina once more reeling. “That is what we have been trying to achieve,” pointed out Bataan Head

Coach Jojo Lastimosa after the game. “We want everyone to step up and that anyone can lead us in scoring at any given time.” And true enough, Marikina had no answer for that. When the Bataan starters got the lead, the second unit hiked it up. The third unit held the line, then the starters got back in and continued to pummel the Shoemasters with the lead climbing to as high as 23 points. Bataan shot 48 percent from the field to Marikina’s woeful 24-percent shooting. The Risers scored almost half their output from inside the paint, 42 to Marikina’s 18. And Bataan simply ran the home side out of the gym with a 22-7 edge in fast-break points. Twelve of the 15 players Lastimosa sent in scored (Arvie Bringas had an excellent chance to get on the scoring board, but he muffed two free throws, including one shot from under the basket). When pressed for a comment about the game, Marikina Head Coach Elvis Tolentino simply said regarding Bataan, “That’s a very good team that is on a mission.”

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Wednesday, February 20, 2019

BELL AND I NIEMER SHOW

PETRON’S Mika Reyes breaks the PLDT defense of Grace Lazaro and Aiko Urdas.

MPORTS Katherine Bell and Stephanie Niemer made a rousing debut as Petron made short work of PLDT Home Fibr, 25-19, 25-9, 25-10, in the Philippine Superliga Grand Prix on Tuesday at the Filoil Flying V Centre. Billed as two of the best imports the country ever saw, Bell and Niemer were unstoppable from start to finish as they towed Petron to an easy win in this prestigious women’s club tourney that has ESPN5 and 5Plus as broadcast partners. Bell led the charge with 15 points and 10 digs, while Niemer scattered nine spikes, three aces and a pair of blocks for 14 hits in their win that lasted for one hour and 26 minutes. Mika Reyes was also instrumental with seven points, while Aiza Maizo-Pontillas and Remy Palma added six markers apiece for Petron, which is looking to defend its crown in this tourney that has Asics, Mikasa, Mueller, Senoh, Team Rebel Sports, Bizooku, UCPB Gen, Hotel Sogo and Data Project as sponsors. Newly acquired libero Denden Lazaro also had 10 digs in her Petron debut. “We struggled in the first set maybe because it’s just our first game. The players, especially the imports, were too excited,” said Petron Head Coach Shaq de los Santos. “I told them to relax, take a deep breath and focus. Good thing we were able to recover.” Petron had a slow start as it was downed early, 5-11, in the first set before trimming it to one, 18-19, until the Blaze Spikers unleashed seven straight points to take the first set. The defending champions were unstoppable in the succeeding sets with Bell and Niemer heating up mounting big leads 19-7 in the second set and 17-5 in the third frame never looking back to win their first game. Import Grace Lazard was the lone bright spot for PLDT with 14 points, while her fellow reinforcement, Kendra Dahlke, only had four markers as her team gave up 24 errors in her debut.

WHERE TO, SKATEBOARDING?

KATEBOARDING, the sport that shoved Margielyn Didal to instant fame and fortune in last year’s Asian Games, have yet to secure a venue for the 30th Southeast Asian Games. Skateboarding and Roller Sports Association of the Philippines President Monty Mendigoria has continued to vend the hosting of the event to either Tagaytay City and Clark—although officials of the Bases Conversion and Development Authority (BCDA) hinted they have the edge in building a temporary park for the sport where Didal won one of the country’s four gold medals in the Indonesia Asian Games. Mendigoria said a park costs P13 million. Both Tagaytay City and BCDA—through its facilities in Clark—offered lands where the park could be constructed by the Department of Public Works and Highways. The BusinessMirror learned that the intention is to build a temporary or collapsible skate park that costs less than a permanent park. Besides women’s street where Didal won gold, the other events offered in the Philippine SEA Games are park, game of skate and downhill for men and women. Philippine Sports Commission (PSC) Chairman William Ramirez, meanwhile, called for more awareness in the anti-doping campaign in sports as he opened the Doping Control Officer Training Course on Tuesday in a hotel in Manila. Ramirez also vowed to support the Philippine National AntiDoping Organization (PHINADO) in its effort to educate athletes and coaches in the anti-doping campaign. Dr. Alejandro Pineda, Phinado board member and project director, said Gobinathan Nair, director general of the Searado, will conduct lectures in the organization’s three-day seminar that drew participants from all

Southeast Asian Games Federation members. Twenty doctors, nurses, nutritionists, coaches and sports administrators with doping control background are among the participants. Pineda will discuss the country’s anti-doping plans for the 30th SEAG hosting this November. Global and regional perspectives in doping control and sharing of experiences among SEAG neighbors shall also be discussed during the training. Ramon Rafael Bonilla

PHILIPPINE Sports Commission Chairman William Ramirez opens the antidoping event with sports medicine specialist Dr. Jose Raul Canlas.

Pacquiao’s position pivotal THAT’S ALL

AL MENDOZA | alsol47@yahoo.com

WHAT strikes many in the heating-up political fever that is the chase for Senate slots is the major role that Manny Pacquiao plays in the circus that comes to town once in three years. No, it is not fun to see 62 senatorial aspirants strut their wares every now and then. They are already funny, corny even, to begin with—most of them, anyways. One candidate says he is a Marcos loyalist. But when asked if the Marcoses—from Imelda to Imee—support him, financially or otherwise, he vehemently answered, “No!” Kid the voters more and they’ll dump you this very minute. Another one said he did not trust the Senate at all that’s why he decided to run for senator. Kick his ass, please? Another, when asked to choose between Digong and GMA as worthy to have the last life

vest to survive a sinking ship, he said, “The life vest is for me!” Heroism in reverse? In politics, indeed, there is no limit to engaging in idiocy so that politics is also called, aptly, the art of the possible. Look at Pacquiao. As the national campaign manager of candidates being endorsed by the present dispensation, where is Pacquiao headed to? Not political purgatory. At least, n’yet. I see no need to name the names he is rooting for. I might miss one or even a couple and I could be crucified for that. Nonsense. Already busy like a bee with a plethora of roles tucked under his belt—world boxing champion, professional basketball player, boxing promoter, professional singer, basketball coach, father of four, husband to a minor celebrity, son to a part-time

celebrity, senator, etc.—Pacquiao’s latest position puts him actually in a spot. It’s a make or break thing. Pivotal. It’s risky by any dint of imagination, as risky as Pacquiao facing Terence Crawford in his next fight. If his wards, the majority at least, fall by the wayside, it’s kaput. Big bust. His presidential ambition—yes, he covets a Palace promenade—might suffer a big meltdown. But with victory—a majority from his ticket emerging victorious, that is—then the boat ride by the Pasig River sails on. His popularity does not ensure a shortcut to victory, not like an uppercut producing a knockout when unleashed properly. Fortunate still are his candidates. Perched on the shoulders of a world champion almost assures them a windfall of votes. It would be to their own undoing if they lose come May. It matters that popularity wins votes. The masses do not know a fake when they see one. THAT’S IT If Mark Magsayo decides with finality not to reconcile with ALA Boxing, then let him be. Forcing him to come back will only totally ruin his boxing career—if it hasn’t been ruined yet. Most boxers turning their backs on their benefactors usually go downhill—in no time. Let’s just pray Mark would be an exception, whichever route he takes?

YUKA SASO SHARES LEAD Y

UKA SASO sizzled in the early going but cooled down at the back with shaky putting, settling for a one-under 70 and a share of the lead with Thai Khawnuna Yosita and Mafy Singson at the start of the Champion Philippine Ladies Amateur Open at the Manila Golf and Country Club in Forbes Park on Tuesday. They stood four strokes up on Chanettee Wannasaen, also of Thailand, who shot a 74, while Sofia Chabon and Rianne Malixi turned in identical 75s in windy conditions at the par-71 layout returning as host of the country’s premier championship after a long absence. Junia Gabasa, coming off a victory in the W Express RVF Cup in Canlubang last week, struggled with a 76 for joint seventh with Eagle Ace Superal and Taiwanese Sung You-Chuan, while Nicole Abelar lay a stroke farther back with 77 in the 54-hole championship organized and conducted by the Women’s Golf Association of the Philippines. Just when she thought she had the posh layout all figured out after going three-under with a birdie on No. 1 and an eagle on No. 4, Saso hit an errant approach shot on No. 8 for bogey then groped for her touch on the unpredictable greens at the back, flubbing five birdie chances inside 8 feet. The reigning Asian Games gold medalist three-putted No. 14 after misreading a downhill try, the ball

YUKA SASO and Thai Khawnuna Yosita each shoot one-under 70s on Tuesday.

storming past the cup by 6 feet which she failed to return. “As I’ve said, the greens are tough. I could’ve turned in a better round and could’ve taken the solo lead,” said Saso, who muffed birdie tries on Nos. 13 (8 ft), 15 (6 ft), 16 (10 ft), 17 (12 ft) and 18 (5 ft). “My timing was off at the back and that made it worse. But overall, I am still happy with game.” Saso’s blistering start also failed to rattle her young Thai flightmate, who hit three birdies to negate a double bogey mishap on No. 12, while Singson, 15, also gunned down three birdies against two bogeys in a separate flight to gain a piece of the lead in the early going of the event presented by Champion and sponsored by Hana Shampoo, EVA Air, San Miguel Corp. and Diamond Motor Corp. “The greens are tricky. They’re difficult because they’re slick and undulating. The wind was also a big factor,” said Khawnuna, a 16-year-old rising star from Nakhon Thammarat. Unlike Saso, Singson had to rebound from a faltering start of two bogeys in the first four holes but charged back with birdies on Nos. 8 and 14 before rolling in a 5-footer on the last hole. “The greens are tough but the wind was relatively fair,” said Singson, bracing for a tough outing against Saso and Khawnuna in today’s featured flight among the 93 starters where the 30 percent of the lowest scores and ties after the first round qualified in the centerpiece Open division. The rest will be classified into Classes A and B. Manila Golf Club President Martin Romualdez, Peerless Products Manufacturing Corp. President Simeon Tiu and MGC ladies chapter head Lorna Tabuena hit the ceremonial drives to formally kick off the 54-hole championship presented by Champion late Monday.

Sports BusinessMirror

| Wednesday, February 20, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

MERCEDES’S Valtteri Bottas steers his car during a Formula One preseason testing session at the Barcelona Catalunya track in Montmelo on Monday. AP

CLAUDIO PIZARRO is still setting Bundesliga records. AP

40 AND STILL SCORING!

ERLIN—At 40 years old and still scoring goals, Claudio Pizarro isn’t ready to retire just yet. The veteran Werder Bremen striker became the oldest player to score in the Bundesliga with the last kick of the game in a 1-1 draw at Hertha Berlin on Saturday, gaining what could be a crucial point in his team’s quest for European qualification. “I’m very proud that I scored the goal,” said Pizarro, who was 40 years, 136 days old when he scored. Pizzaro broke the record by 15 days. The previous record holder was Mirko Votava, who scored his last Bundesliga goal for Bremen in August 1996. “I couldn’t imagine a more worthy successor than Claudio,” Votava told Kicker magazine. “He’s a great guy and a sporting phenomenon. I’m delighted for him, and he knows that, too. We spoke a couple of times in the last weeks and said he would break the record this season.” The now 62-year-old Votava, formerly a midfielder, is helping to coach Bremen’s under-23 team. He said he had no misgivings about seeing his old record go. “I wasn’t a striker, and I prevented more goals than I scored. Claudio is a real goal hunter, so the record suits him better,” Votava said. “And it says something for us both that we were fit at that age and are up there in the list. With Manni Burgsmueller at No. 3 (39 years, 226 days) it’s a sweep of the podium by Werder. That’s brilliant.” Pizarro, who has 20 goals in 85 appearances for Peru, became the first to score in 21 different calendar years in the Bundesliga with his 195th league goal. They came in four stints at Bremen, two at Bayern Munich, and one at Cologne. His first Bundesliga goal, in August 1999, also came at Hertha, again in a 1-1 draw for Bremen, which he joined from Alianza Lima. Pizarro also played one season in the Premier League with two goals in 21 league games for Chelsea. Saturday’s goal, coming in the sixth minute of injury time, was different from any he had scored before. Bremen was awarded a free kick just outside the penalty area. After consulting with teammate Max Kruse, Pizarro sent the ball low, where it rebounded off a defender’s legs and into the net. “We decided to shoot in under the wall because they jump high. It worked,” a beaming Pizarro said. “I never scored a goal like that in my career before.” Kruse joked: “I told him, ‘You don’t have the strength at your age.’” It’s remarkable Pizarro was given the chance at all. The Peruvian forward was without a team after leaving Bremen following his third stint at the club in 2017. He had scored only one goal the season before. But Cologne extended his career when he joined on September 29, 2017, to help in its fight against relegation. Again he scored one goal that season, before Cologne was relegated, but he did enough to convince his old club to bring him back for another encore. It proved to be an inspired decision. Pizarro, who has been used mostly as a substitute for Bremen, already has three goals in 17 league appearances this season. He has scored in the last two rounds of the German Cup, his injury-time equalizer against Borussia Dortmund helping to knock the Bundesliga leaders out of the competition earlier this month. “The guy is incredible,” Bremen Coach Florian Kohfeldt said after Pizarro’s latest feat. “Still an unbelievable player.” Asked about his secret, Pizarro said he trained “quite normally,” watched what he ate, and tried to “always be happy.” “I never expected in my life that I would have such a record. But I still have the desire to play football and enjoy every moment—and of course the goals, too,” Pizarro said. He still doesn’t know if he’ll be playing next season. “My head says, ‘Of course.’ But I have to wait every week to see what my body says,” said Pizarro, who said a decision will be made at the end of the season. “Pizza,” as he’s affectionately known by teammates, has long been the top-scoring foreign player in the Bundesliga—though Bayern Munich forward Robert Lewandowski is closing in with 193 goals. “I think Lewandowski is coming from behind to break my record,” Pizarro said. “I’ll simply keep trying to score a goal and help the team when I come on.” AP

BREXIT: NIGHTMARE FOR FORMULA ONE? By Joseph Wilson

The Associated Press

ONTMELO, Spain—Politics, not engines or aerodynamics, is what really worries Mercedes boss Toto Wolff as his team heads into the new Formula One (F1) season seeking a sixth consecutive title. It’s the looming possibility of a chaotic rupture of the United Kingdom from the European Union (EU) that would be most problematic. “That is a nightmare scenario that I don’t want to even envisage,” Wolff said on Monday, the opening day of preseason testing near Barcelona. “If a no-deal Brexit would happen like has been discussed, I think we would have a major impact in terms of our operations going to the races and getting our cars developed and ready.” Last month, the British Parliament voted down the deal Prime Minister Theresa May had initially reached with the other 27 members of the EU. The clock is ticking toward March 29, when the UK is due to leave the bloc with or without a deal. That will come with F1 teams preparing for the second grand prix of the season in Bahrain on March 31. What a divorce would mean without negotiated

terms to handle the legal and commercial implication is hard to predict, but most agree there would be a risk for considerable disruption to trade and the legal status of foreigners. Besides Mercedes, which has its factory 70 miles northwest of London, the Red Bull, Renault, Williams, McLaren and Racing Point teams also have facilities in the UK. Wolff fears that an ugly Brexit will give an advantage to those teams based on the European continent. That would mean Ferrari, Mercedes’s biggest challenger in recent years, but it also includes the other Italian team, Toro Rosso; Haas, based in the United States; and Switzerland-based Alfa Romeo. “Brexit is a major concern for us, and it should be a major concern for all of us who live in the UK and operate out of the UK,” Wolff said. He fears the disruption affecting not just the movement of teams but also the shipping and delivering of car parts and Mercedes’s staff, which has 26 different nationalities represented. “The way we are getting parts and services is just in time, at the last minute, into the UK, and any major disruption in borders and taxes would massively damage the Formula 1 industry in the UK,” Wolff said. “We have a fantastic access to talent today in the UK. Formula One has grown. What Silicon Valley is to the US, Formula One is to

the UK, and at the moment, there is a risk whether the UK can stay as a competitive location as it is today.” Red Bull team principal Chris Horner is also concerned, but believes that the industry will adjust. “You can paint a doomsday scenario of Brexit or you can actually maybe see how much it will affect our daily life,” Horner said. “Whether there is no deal, any deal, we will have to deal with it.” For Sebastian Vettel, the opening day of the F1 preseason couldn’t have gone any better. Vettel, the runner-up to the title last season, clocked the fastest time, was the busiest driver with 169 laps and, most importantly, felt right at home behind the wheel of his new Ferrari. “We couldn’t have hoped for a better day,” Vettel said after setting a session-best lap time of one minute, 18.161 seconds. “It was unbelievable. The car was working very well. We had no issues slowing us down. “It is obviously very early, and this will be meaningless in a couple of weeks, but for now, a huge compliment to everyone at the factory. What they put on the track today was very close to perfection.” Vettel has the daunting goal of ending Mercedes’s five-year dominance of F1. Defending champion Lewis Hamilton shared time behind the wheel for Mercedes with Valtteri Bottas and

Aussie police: We didn’t know Bahraini’s a refugee

ANBERRA, Australia—Australian Federal Police did not know a Bahraini soccer player was a refugee who feared persecution in his homeland when the agency alerted Bahrain and Thailand that he was on a flight bound for Bangkok, Australian officials said on Monday. Australian Border Force (ABF) Commissioner Michael Outram told a Senate committee he blamed human error within his own agency for a failure to e-mail to police Hakeem al-Araibi’s refugee status in time. But Outram

would not concede under questioning by senators that the 25-year-old former Bahrain national soccer team player would not have been arrested in Bangkok on November 27 without the Australian tip-off. “I apologize for the error that occurred within the ABF, but I can’t say, nor can I accept, that that error necessarily led to his detention in Thailand that would have occurred anyway,” Outram said. Police Deputy Commissioner Ramzi Jabbour told the committee Bahrain and Thailand were alerted by police

almost six hours before al-Araibi landed after a nine-hour flight from Melbourne on his honeymoon. The bungle drew the Australian government, international soccer bodies and human-rights advocates into a top-level dispute with the Thai and Bahrain governments to gain al-Araibi’s freedom. He was detained at the airport and was held 76 days under threat of extradition to Bahrain before he was released last week and returned to Melbourne. The rules of international policing organization

HAKEEM AL-ARAIBI (center, with ball), former Australian national team captain Craig Foster (center left) and Australian Foreign Minister Marise Payne (center right) pose with soccer teams after a celebration match at Parliament House in Canberra, Australia, recently. AP

ended up with the ninth-fastest time, but it is more very likely that Mercedes was not aiming to top the leaderboard. Mercedes boss Toto Wolff acknowledged that Ferrari looked quick, but downplayed the importance of lap times in the preseason. “That is not what tests are about,” Wolff said. “It’s about going through all the parts and looking at all the data.” Carlos Sainz put in the second-quickest lap in his first ride with McLaren, followed by Haas’s Romain Grosjean and Red Bull’s Max Verstappen. Renault’s Daniel Ricciardo, who joined the team from Red Bull, and Nico Hulkenberg put in the slowest times of the day, finishing more than 2.8 seconds slower than Vettel. Williams, which finished last in the team standings last year, missed the first day of testing and is likely to miss Tuesday’s session, as well. Alfa Romeo, previously known as Sauber, unveiled its new burgundy-and-white car in the pit lane before testing began. Kimi Raikkonen, who joined the team from Ferrari, had the fifth-best time but also went off the track twice without damaging his car. The season-opening Australian Grand Prix is on March 17. Interpol prevent a Red Notice from being issued for an acknowledged refugee to be sent back to the country from which he or she fled persecution. Australian officials face days of questioning by a Senate committee this week to determine how the bungle arose. Australian Federal Police Commissioner Andrew Colvin told the committee that police did not know that al-Araibi was a refugee and did not have access to his visa status when Bahrain applied for a Red Notice to Australia’s Interpol bureau on November 9. The Australian Border Force did not advise Australian police that al-Araibi was a refugee until a day after he was detained in Thailand, Colvin said. Interpol subsequently withdrew the Red Notice, but Bahrain did not drop its bid to extradite al-Araibi until last week. Jabbour said Bahrain issued the Red Notice on the same day Thailand issued al-Araibi a tourist visa. “I cannot comment as to what was the trigger” of the Bahrain Red Notice, Jabbour said. On whether Thailand knew before Australia’s notification that al-Araibi was coming, Jabbour said, “We didn’t get a response either way whether this came as news to them.” Thailand said in a statement two weeks ago, “We would not have become involved in the issue had we not received the Red Notice alert from the Australian Interpol and the subsequent formal request by Bahrain for his arrest and extradition.” Australian law does not allow for al-Araibi’s arrest in Australia under a Bahrain Red Notice and warrant. Bahrain had wanted al-Araibi to serve a 10-year prison sentence for an arson attack that damaged a police station. The former Bahrain national soccer team player has denied those charges, which he was convicted of in absentia, and says the case is politically motivated. He said he believed he was targeted for arrest because of his Shiite faith and because his brother was politically active in Bahrain. Bahrain has a Shiite majority but is ruled by a Sunni monarchy. Al-Araibi says he fled Bahrain because of political repression and that he fears torture if he returns. AP

Almighty God

EAR God, Your greatness is without measure. In awe we pray: Bless us always, oh God. The heavens praise Your wonders; open our eyes to the beauty that surrounds us. Your faithful praise your fidelity; strengthen our confidence in Your unconditional love. The Church proclaims Your saving Word; let Your truth be heard in every land. May the Peace of Christ reign in our hearts, now and forever. 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

‘Digital gangsters’: UK wants tougher rules for Facebook By Mae andeRSon & Jill laWleSS The Associated Press

ONDON—British lawmakers issued a scathing report on Monday that calls for tougher rules to keep Facebook and other tech firms from acting like “digital gangsters” and intentionally violating data privacy and competition laws. The report on fake news and disinformation on social-media sites followed an 18-month investigation by Parliament’s influential media committee. The committee recommended that social-media 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 anticompetition laws,” the report said. It also accused CEO Mark Zuckerberg of showing contempt for the UK Parliament by declining numerous invitations to appear before the committee. “Companies like Facebook should not be allowed to behave like digital gangsters in the online world,

considering themselves to be ahead of and beyond the law,” the report added. UK parliamentary committee reports are intended to influence government policy, but are not binding. The committee said it hoped its conclusions would be considered when the government reviews its competition powers in April. The government said it welcomed the “report’s contribution toward our work to tackle the increasing threat of disinformation and to make the UK the safest place to be online. We will respond in due course.” While the UK is part of the 28-country European Union, it is due to leave the bloc in late March, so it is unclear whether any regulatory decisions it takes could influence those of the EU. Facebook said it shared “the committee’s concerns about false news and election integrity” and was open to “meaningful regulation.” “While we still have more to do, we are not the same company we were a year ago,” said Facebook’s UK public policy manager, Karim Palant. “We have tripled the size of the team working to detect and protect users from bad content to 30,000 people and invested heavily in machine learning, artificial intelligence and computer vision technology to help prevent this type of abuse.”

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 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 it emerged that Cambridge Analytica, a now-defunct British political data-mining firm that worked for the 2016 Donald Trump campaign, had accessed the private information of up to 87 million users. Conservative lawmaker Damian Collins, who heads the media committee, said “democracy is at risk” from malicious, targeted disinformation campaigns, often directed from countries such as Russia and spread on Facebook and other social networks. “We need a radical shift in the balance of power between the platforms and the people,” he said. “The age of inadequate self-regulation must come to an end.” n

Preorder of new Huawei entry-level phones comes with freebies GLOBAL wireless communications leader Huawei has finally unveiled its highly anticipated lineup of Y Series smartphones in the Philippines with the Y6 Pro (2019) and Y7 Pro (2019). Ideal for the dynamic youth, these phones boast even bigger and better features among devices of its class. The other good news is that, these smartphones will be available via Lazada with exclusive freebies. Developed to empower digital natives and help them maximize their true potential, the Huawei Y Series combines quality technology and stylish design at a truly

affordable price. Exceeding expectations by offering more than its price, the Huawei Y6 Pro (2019) has promising features that inspire the young, bold, and creative to explore more and do something fun. Y6 Pro (2019) sports a 6.09-inch Huawei DewDrop Display, 3GB RAM plus 32GB ROM storage, long-lasting 3,020mAh battery, and 13MP rear camera and 8MP front camera with Selfie Toning Flash. It also comes with Huawei’s EMUI 9.0 and Android 9.0 Pie that better the overall productivity of the device. Like Y6 Pro (2019), the Huawei Y7 Pro (2019) is an all-rounder entry-level

smartphone that has a lot to give. It boasts a large and vivid 6.26-inch Huawei Dewdrop display, a dual 13MP+2MP AI Camera with Master AI support, and a class-leading 4,000mAh battery with intelligent battery management solution to provide an outstanding two-day battery life. On offer until February 22, preorder customers can win Lazada vouchers that are worth up to P700 along with such freebies as Huawei CM51 Mini Portable Bluetooth Speaker and Huawei AM12 Plus In-ear Earphone. More information can be found at bit. ly/2GMno0Y.

BOX OFFICE: ‘ALITA’ LEADS A SLOW PRESIDENTS DAY WEEKEND D3

Wednesday, February 20, 2019

Instagram changes rules on self-harm postings after suicide LONDON—Instagram has agreed to ban graphic images of self-harm after objections were raised in Britain following the suicide of a teen whose father said the photo-sharing platform had contributed to her decision to take her own life. Instagram chief Adam Mosseri said on Thursday evening the platform is making a series of changes to its content rules. He said: “We are not where we need to be on self-harm and suicide, and we need to do more to protect the most vulnerable in our community.” Mosseri said further changes will be made. “I have a responsibility to get this right,” he said. “We will get better and we are committed to finding and removing this content at scale, and working with experts and the wider industry to find ways to support people when they’re most in need.” The call for changes was backed by the British government after the family of 14-year-old Molly Russell found material related to depression and suicide on her Instagram account after her death in 2017. Her father, Ian Russell, said he believes the content Molly viewed on Instagram played a contributing role in her death, a charge that received wide attention in the British press. The changes were announced after Instagram and other tech firms, including Facebook, Snapchat and Twitter, met with British Health Secretary Matt Hancock and representatives from the Samaritans, a mental health charity that works to prevent suicide. Instagram is also removing non-graphic images of self-harm from searches. Facebook, which owns Instagram, said in a statement that independent experts advise that Facebook should “allow people to share admissions of self-harm and suicidal thoughts but should not allow people to share content promoting it.” AP

Pet Corner BusinessMirror

Wednesday, February 20, 2019

Giving hope to stray dogs and cats NAIA during the rescue operation (left), and the latest photo of Naia (right)

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Rihanna, 31; Brian Littrell, 44; Willie Garson, 55; Sidney Poitier, 92. HAPPY BIRTHDAY: Focus on what’s important. As long as you take care of your responsibilities and don’t let emotional matters dictate what you do or the decisions you make, you will come out on top. Letting someone interfere in your affairs will end up holding you back and causing confusion and uncertainty. Mind your own business, and aim to be productive. Your lucky numbers are 5, 12, 22, 25, 31, 37, 48.

By Rizal Raoul S. Reyes

T started in February 2015. Animal lover-turned-advocate Paulina Pinos spearheaded the adoption of dogs from the City Pound of Muntinlupa City. This gave birth to the group Hope for the Strays (HFTS), a Facebookbased animal welfare group. Later, entrepreneur Cecil Fernandez, who was then an active supporter of the group, succeeded Pinos after eight months as one of its main moderators and administrator. In a recent interview with BusinessMirror, Fernandez recalled that one of the difficulties or challenges faced by HFTS during its first year was the handling of multiple cases of animal abuse, neglect and abandonment, which required immediate attention in terms of rescuing, medication, recovery and rehabilitation, even adoption. “Helping a neglected dog or cat does not stop with the rescue. It leads you to a longer, more engaging and even heartbreaking, and financially draining process, such as providing veterinary needs, recovery and facilitating the adoption process for dogs and cats under our care,” Fernandez explained. To update HFTS on new developments, Fernandez said members of the group can post any related article pertaining to animal rescue, cases and stories of abuses, and even foreign news regarding animal welfare. She added HFTS checks submitted content to makes sure they abide by established guidelines before the submission is approved and posted. Already deployed is a messaging function to allow people to reach out to them privately. “More often than not, they are seeking for various types of help needed for dogs and cats neglected or maltreated by their owners, animals that are in bad shape or have a medical condition. There are also pet owners seeking for financial help for their own dogs, wanting their dogs/cats to be adopted when they are experiencing financial difficulties. There are some owners who want to give away their pets because they can no longer afford to take care of their pets,” Fernandez pointed out. According to Fernandez, an average of eight to 10 people are using the messaging feature on a daily basis for their reports. Since all members have fulltime jobs, Fernandez said HFTS tries to manage the messages because a lot of senders often tag people they know who can bravely facilitate rescue, raise funds, adopt and provide public awareness for the

ARIES (March 21-April 19): Learn something new. If you don’t like what you are doing, find something you do enjoy and add it to your daily routine. Life is about living and striving to make the most of it. Don’t give up; get moving. HHH

TAURUS (April 20-May 20): Put more energy into your pursuits. You’ve got what it takes to make a difference, so don’t fall short when others are counting on you to lead the way. Engage in talks and offer suggestions. Personal improvements can be made. HHHHH

GEMINI (May 21-June 20): Truth matters. Situations will spin out of control quickly. Relationships will be damaged if you aren’t honest or if you surround yourself with false allies. Get to the bottom of what’s going on, and clear up any misunderstanding quickly. HH

CANCER (June 21-July 22): Share your feelings and collaborate with someone you love to come up with viable solutions that will make your life and your relationship better. Look at every option, and choose the one that offers you the freedom to express your creativity. HHHH

LEO (July 23-Aug. 22): It’s up to you to bring about change. Don’t let anger be your vehicle when desire should be what motivates you to move forward. An opportunity is only as good as what you do with it. HHH

protection of animals. Currently, HFTS has 22,600 members. RESCUING NAIA ON March 3, 2017, Fernandez and her team saw a dog along the center aisle of the Ninoy Aquino International Airport (Naia) road. She noticed the dog was full of ticks and fleas and a bit aggressive when they tried to rescue the dog. Nevertheless, they rescued the dog and sent her to the nearest veterinarian. The dog, who was named Naia, was treated for ehrlichia. Naia stayed in a pet mobile in Parañaque for a week. Later, she was sent to Cavite to be fostered for more than a month, until HFTS decided to get her and adopt her. Naia has fully recovered and even became the mother of four puppies.

FULFILLMENT IN THE ADVOCACY ON a personal note, Fernandez said getting involved in this worthy advocacy is quite fulfilling because many people today, especially the millennials, are so engaged or interested to join. “I realized I already found my purpose in life. I find joy and happiness in saving dogs and cats, feeding dogs and cats whenever I can. People in our area already know me as the lady who goes around practically every day to do my feeding activity. People sometimes ask why I am doing it, and I just tell them: Why not? It’s small thing I can do for dogs and cats, since they bring joy to my life,” she explained “I am also blessed since I have a job, a small business and friends I gained for being in this advocacy, so I want to share and inspire people to do the same. I intend to do this for as long as I can.” n

Iowa library welcomes stray kitten as official pet STATE CENTER, Iowa—Cats have roamed libraries since the time of the ancient Egyptians. Most famously in Iowa, Dewey the cat called the Spencer Public Library home from 1988 until his death in 2006. At the Gutekunst Public Library in State Center, a stray kitten named Rosie has made a home as the library’s official pet. The kitten first appeared on the library’s doorstep on December 13. “We didn’t find her. I think she found us,” Library Director Mara Edler said. “It was a Thursday morning, and we didn’t have a cat. Then I went to lunch and came back, and we had a cat. She was out by the front door, and the patrons noticed her. She was still there

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after closing, and when my husband and I went to check on her that night. She never left.” Initially, Edler was more interested in reuniting the cat with her rightful owner rather than taking the creature in. She made phone calls and took to social media, seeing if anyone recognized the cat. “Nobody claimed her. We think she may have been a farm cat’s kitten. She was four months old when we found her,” Edler said. After several guests asked Edler if the library would be adopting the cat, she decided to speak with the board of directors about the situation, the Times-Republican reported. “They agreed to try it out and have

us keep her,” Edler said. The cat was given a veterinarian examination and was initially confined to staff office space. “We had kids with their faces pressed up against the window of the office, trying to get a look at her. We know she didn’t like being cooped up, but we didn’t want to let her out until she had all her shots,” Edler said. Edler sought input about what the cat should be named. “The name Rosie won—since State Center is the Rose Capital of Iowa,” she said. “Her full name is Rosie Agatha Christie Finch.” Rosie has been in circulation at the library, happy to now have free rein of the premises.

“When she was let-out she looked around the building methodically,” Edler said of the 8,600-square-foot library, which recently doubled in size. “She is great for kids who don’t have a cat. We have a number of kids who just want to come in and play with her.” Rosie can be found darting from one room to another and plopping down in front of a window to soak up some sunshine. Staff vacuums the library daily, and there are signs posted informing guests of the cat’s presence, and to not let her outside. “I love this cat. She’s the friendliest creature I’ve ever seen. She wants to be around people and greets them when they come in,” Edler said. AP

VIRGO (Aug. 23-Sept. 22): Share your thoughts, feelings and emotions with the people who mean the most to you. Forming an alliance with those who want to stand by your side and strive to reach similar goals will encourage you to finish what you start. HHH

LIBRA (Sept. 23-Oct. 22): Don’t lose sight of what you want. Giving in to someone who is critical or demanding will not help you reach your goals. Make changes that will result in greater opportunities, as well as personal and financial freedom to grow and excel. HHH

SCORPIO (Oct. 23-Nov. 21): Learn through observation and experience. Put more time and effort into the pursuits that bring you the most joy. Be honest with yourself and others about what makes you tick and encourages you to live life your way. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): You’ll face uncertainty and confusion if you reveal your plans. If you want to pursue something, take action instead of talking about what you want to do. Change happens when you mark your path and follow through. HHHHH

CAPRICORN (Dec. 22-Jan. 19): Consider what you have, what you need and what to do next. Simplify your life by letting go of what you no longer need. Trust in your judgment, abilities and needs. HHH

AQUARIUS (Jan. 20-Feb. 18): Stick to your plan, and don’t stop until you reach your destination. Trust in your ability and get the facts straight. If you rely on someone else, you will be disappointed. Don’t let what others say or do sidetrack you. HHHHH

PISCES (Feb. 19-March 20): Choose wisely. Don’t base your decisions on what someone tells you. Problems with a friend or relative should be dealt with carefully. Disillusionment will set in if someone you trust doesn’t live up to his or her promises. HH BIRTHDAY BABY: You are curious, imaginative and charming. You are resourceful and energetic.

‘wild animals’ BY ALEX EATON-SALNERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Zeus’s wife 5 Tree of knowledge site 9 Hathaway of Ocean’s Eight 13 Yemen gulf port 14 Cat, in Costa Rica 15 French farewell 16 Cat’s elusive prey? 18 Happen again 19 Blond shade 20 Inquire 21 Recycle container 23 Charlemagne’s realm: Abbr. 24 Coatrack features 26 Crow with few feathers? 28 Starting poker stake 29 ___ and whey 31 Wrist-elbow connector 32 ___ nous 34 Amherst sch. 35 They often involve switching initial letters, as in the starred answers 38 She’ll teach you a lesson 40 Disco’s Summer 41 “Dream on!”

2 12-year-old, e.g. 4 44 Salon goos 48 Animal whose muscles are fawned over? 50 Jason betrayed her 51 Labradoodle sound 52 Dye tank 53 Because 7 ___ 9 (pun punch line) 55 Chicago-based station 56 Miles per hour, say 58 Particularly bumpy hopper? 61 Pennies 62 Opposite of pro 63 Table d’___ 64 Guesstimate words 65 Mess up 66 Skunk emission DOWN 1 “That’s a good one!” 2 Tesla’s rival 3 Untouchable? 4 Singer DiFranco 5 Some are scrambled 6 Chocolate choice 7 Airport posting: Abbr.

8 “Nicely done!” 9 Lime suffix 10 December 25 saint 11 Brain cells 12 Cries of epiphany 15 Obama education secretary Duncan 17 “Stillmatic” rapper 22 E-file org. 25 Avoid, as a lawn 26 Puppy-raising person 27 Root around 29 Silicon Valley VIP 30 Coffee vessel 33 Neither’s partner 34 SEALs’ org. 35 Becomes rigid 36 ___ v. Wade 37 Holiday ___ Express 38 Hot sauce brand 39 Throne seizer 42 “Coffee or ___?” 43 Sponge alternative 45 1994 Johnny Depp film 46 Hardly staccato 47 Smoothing tool

9 Library movie offerings 4 50 “Whatevs” 53 Bike-lane encroacher 54 Pre-weekend cry 57 Ike’s battleground 59 Singer Yoko 60 Nonetheless, briefly

Solution to yesterday’s puzzle:

Show BusinessMirror

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Wednesday, February 20, 2019

BLIND SPOT BRUCE C.

RELUCTANT GIRLFRIEND

THE TV star looks like she can’t make her way out of a catfight, but she is actually someone who can start it. In the past, the TV star had a fling with a male star much younger than her. The male star now has a girlfriend, and the three of them have had a number of encounters where the latter almost lost her temper. The TV star has been flirting with the male star, even in front of his girlfriend. And she has told him that she regrets staying with her boyfriend instead of being with him. Well, the male star’s feisty girlfriend will have none of it. She has warned her boyfriend that if the TV star flirts with him again, she won’t take it lightly.

THE SIGNS

YOU know it’s true love when an actor, who is from another network, goes to his girl’s taping for the rival network. And he is not just there to visit the female star but also to bring her food. Her costars and the crew in the show are happy that she has found a nice guy who cherishes her. It was not always that way. The female star was awkward and uncertain about being loved by a man who, it turned out, didn’t even like her. Her career is now going great, and her love life is even better, which only affirms that good things come to those who wait.

THE GRASS IS ALWAYS GREENER ON THE OTHER SIDE

THE actress, who it seems has been frozen by her management, has reportedly sent feelers to another network that she wants to transfer. The thing is that the other network is not sure they want her, or they would have any use for her. The actress herself is OK, but the other network is scared that drama will follow her again, as it always has wherever she goes. The actress’s boyfriend is also a source of concern for the other network.

‘Alita’ leads a slow Presidents Day box-office weekend

NEW RULES

SO the actor has a daughter, but many don’t know it was with his former handler; not his personal employee but one employed by his management. This was back in the day when he was kind of a playboy. He and his handler have ended the relationship, and it’s not clear whether he supports the kid financially. One thing is for sure: The rules and regulations have changed in terms of artist-employee relations in the actor’s management.

L CRITICALLY ACCLAIMED NETFLIX SERIES ‘SEX EDUCATION’ TO RETURN FOR A SECOND SEASON

VIEWERS across the globe fell in love with Sex Education and the students of Moordale High School, with the series tracking to be a huge hit (estimated over 40 million households watching the title within the first four weeks). Following high fan demand for a second season, Netflix announced that the series has been renewed for eight new episodes of the frank, heartfelt, honest and hilariously awkward series. Season Two is slated to begin production this spring in the United Kingdom. Gillian Anderson, Asa Butterfield, Emma Mackey, Ncuti Gatwa, Aimee-Lou Wood, Connor Swindells, Kedar Williams-Stirling, Tanya Reynolds and Patricia Allison are set to reprise their roles. Creator Laurie Nunn will return as creator and executive producer, with Jamie Campbell set to executive produce alongside Nunn. Eleven Films for Netflix will continue as the production company for the second season of the breakout series. The first season garnered critical and popular acclaim, and has opened up poignant cultural conversations around sexuality, relationships and identity. The series has been lauded for delivering a coming-of-age story with a fresh, feminist heart, and for presenting intersectional and multidimensional characters that audiences have fallen in love with. About the recommission, series creator Laurie Nunn said, “The reception to series one has been so exciting. Seeing how people across the world have connected to characters that began as ideas in my head is incredible. I’m hugely grateful to every person that has taken the time to watch the series, and I can’t wait to continue this amazing journey.”

By Lindsey Bahr The Associated Press

OS ANGELES—The sci-fi fantasy Alita: Battle Angel topped the charts and beat out a number of newcomers including the meta romantic comedy Isn’t It Romantic and the horror sequel Happy Death Day 2U in its first weekend in theaters, but it is a victory with a few caveats. It’s leading the slowest Presidents Day weekend at the box office in almost 20 years and has a ways to go to make up its costly budget. 20th Century Fox said on Sunday that the James Cameron-produced film earned an estimated $27.8 million over the weekend against a reported $170-million budget, which includes cost-saving tax incentives and rebates. It’s made $36.5 million total since its debut on Thursday. Robert Rodriguez directed the future-set film

starring Rosa Salazar as a cyborg with no memory of her past. Critics were mixed on the results, and it’s become just the latest pricey and ambitious non-Star Wars, non-Marvel or DC sci-fi film to do less-thanstellar business at the box office, the last being the Peter Jackson-produced Mortal Engines. It is quite a tumble (56.4 percent) from last year’s record Presidents Day box office when Black Panther grossed $202 million over the three-day weekend and propelled the industry total to $286.6 million. The weekend has in recent years been host to the openings of high earners from Deadpool to Fifty Shades of Grey. This year, total weekend earnings amount to only $125 million. The rest of the charts remained fairly lackluster, as well. Last week’s champ, The LEGO Movie 2: The Second Part, fell 38 percent in its second weekend earning $21.2 million, bringing its total to $62.7 million—which is less than the first film earned in its opening weekend. Warner Bros. also had the No. 3 movie this weekend with its meta romantic comedy Isn’t It Romantic, starring Rebel Wilson as a woman who bonks her head and wakes up in a rom-com. It debuted to $14.2 million and has earned $20.5 million since its opening earlier in the week. The other romantic comedy offering in theaters, What Men Want, with Taraji P. Henson, landed in fourth place in its second weekend with $10.9 million. And Happy Death Day 2U, the horror sequel from Blumhouse and Universal, rounded out the top 5 with $9.8 million. The first film opened over twice as high, with over $26 million, but with a production budget under $10 million, it’s still bound for success.

The Dwayne Johnson wrestling film Fighting With My Family also opened in four theaters on Wednesday, earning $131,625 over the weekend. Seven weeks into the new year and the box office is still struggling, down nearly 20 percent from where industry totals were last year. “We’ve been down every week this year,” said comScore senior media analyst Paul Dergarabedian. “This weekend is emblematic of what is going on at the box office.” Dergarabedian said that slow weekends beget more slow weekends—with less foot traffic at the theaters, fewer people are seeing previews for what’s to come and the cycle just continues. But Captain Marvel may be coming to save the day on March 8. Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore. Where available, the latest international numbers for Friday through Sunday are also included. 1. Alita: Battle Angel, $27.8 million ($56.2 million international) 2. The LEGO Movie 2: The Second Part, $21.2 million ($12.1 million international) 3. Isn’t It Romantic, $14.2 million 4. What Men Want, $10.9 million ($2.2 million international) 5. Happy Death Day 2U, $9.8 million ($11.8 million international) 6. Cold Pursuit, $6 million ($1.5 million international) 7. The Upside, $5.6 million ($466,000 international) 8. Glass, $3.9 million ($3.6 million international) 9. The Prodigy, $3.2 million 10. Green Book, $2.8 million ($9 million international). n

Memories lead to regrets in ‘Alone/Together’ PEOPLE do not always make the right decisions in their lives, and often this leads to life’s “what ifs,” or simply called regret. In one of Eric Jackson’s articles published in Forbes online, he has written about “The 25 Biggest Regrets in Life. What are Yours?” and fifth on his list is “breaking up with my true love/getting dumped by them.” Jackson said that “romance is a big area of regret for most of us.... It is tough to simply be happy with the love that you’ve found and takes away from the special moments you have today, if you’re constantly thinking back to what you once had.” This kind of regret is the theme of ABS-CBN Films Black Sheep’s latest movie offering Alone/Together, which stars Enrique Gil and Liza Soberano. The film is written and directed by Antoinette Jadaone. The film tells the story of college

sweethearts Raf (Gil) and Christine (Soberano), whose paths will take a different turn that lead them to the biggest regrets in their lives. Aside from the intriguing story of Raf and Christine, Jadaone also noted how the two stars’ individual characters tackled the “disillusionment” that some graduates feel upon facing the real world — a familiar situation to some overseas Filipinos. “When you’re in college, you feel that you can change the world. But we find that college graduates become disillusioned when they face the real world; that is what the movie tackles— they are in that period in their lives. You are different from who you were in college, from who you dreamed you will become, to who you have become,” Jadaone explained. Find out what will happen to Christine and Raf’s lives in the film Alone/Together as it screens worldwide

in the following dates and regions: February 21 in the Middle East and Papua New Guinea; February 22 in the United States, Canada and Fiji; February 23 in Vienna, Austria, and Gutenberg, Sweden; February 23 and 24 in the United Kingdom; February 24 in Madrid and Barcelona in Spain, and Rome, Bologna and

Padova in Italy, and Dublin, Ireland; February 28 in Australia, New Zealand and Brunei Darussalam; March 1 in Saipan; March 2 in Espoo, Finland; March 3 in Milan, Florence, and Torino in Italy, Athens, Greece, Copenhagen, Denmark, and Paris, France; and March 10 in Oslo, Norway.

ROBERT RODRIGUEZ directed the sci-fi fantasy Alita: Battle Angel, starring Rosa Salazar as a cyborg with no memory of her past. It may have opened as the No. 1 film in North America but with the less-thanspectacular box-office haul, it has a ways to go to make up its costly budget.

Image BusinessMirror

Wednesday, February 20, 2019

www.businessmirror.com.ph

PASS IT ON: GRAILED C.E.O. ARUN GUPTA ARUN GUPTA, CEO of Grailed, came up with the idea for the company about five years ago, shortly after graduating from college. He realized there wasn’t a dedicated online marketplace for men to trade high-end fashion labels. “I actually googled how to make a web site,” said Gupta, about the early days of the company. Now, Grailed has 3.7 million users worldwide and a sister site for women, called Heroine. Gupta shared some of his insights and experiences as a founder and CEO with the Associated Press’s Joseph Pisani. WHAT WOULD YOU TELL SMALL BUSINESS OWNERS? Hiring is like the most important thing you can possibly do. To get the right people in the company and enable them to be successful, give them tools to be successful. That’s the most important thing that you can do. If you want to grow your business, having the right people is like the thing that turbo charges you for growth. HOW DO YOU DO THAT? Interview well. And have an attractive company people want to work at. HOW DO YOU FIND THE RIGHT PEOPLE? I can give you book recommendations. It’s called Who (by Geoff Smart and Randy Street.) That is the iconic book on recruiting. Radical Candor (by Kim Scott) is about management and giving feedback to people. ANY ADVICE FOR SOMEONE OUT OF COLLEGE WHO WANTS TO START A BUSINESS? Don’t let yourself be blocked by anything. The two biggest things I see: people who want to start a company but say they don’t have any money or don’t have the right partners. I started this thing by myself, and then I found my two partners. And then I never had any money for like for a year and a half. Anybody with a laptop can make anything now. BUT YOU DIDN’T REALLY NEED MONEY AT FIRST, BECAUSE ALL YOU HAD TO BUILD AT FIRST WAS AN ONLINE PLATFORM. RIGHT? Totally. I designed the business that way. If I had millions of dollars, maybe I would have started a retail store. But I didn’t. All I had was my computer.

SECURITY BANK RECOGNIZED FOR EMPLOYEE WELLNESS

SECURITY Bank was recently conferred the People Program of the Year (Wellness) Award by the People Management Association of the Philippines (PMAP) for its Total Wellness Program during the 42nd PMAP Awards in Clark Field, Pampanga. The bank’s Total Wellness Program is a series of activities, benefits and perks that exceed the usual employer practices and addresses all aspects of health: physical fitness, mental and spiritual well-being, developmental, educational and financial wellness. To ensure physical fitness, the Security Bank Head Office houses a gym where employees may do their own fitness routines or attend after-work Zumba, yoga and martial arts classes. Moreover, the bank holds an annual health, wellness and fitness fair where employees enjoy free checkups, healthy food options and gym membership discounts. To promote spiritual well-being, the bank holds daily Masses, Advent and Lenten recollections, midweek services and Bible study groups—all of which employees may choose to join. In addition, a wellness coach is available for personal counseling to nurture employees’ mental and spiritual health. “At Security Bank, we believe that caring for our people’s needs helps create a healthy and happy work force that is prepared for success,” said SBC President and CEO Alfonso L. Salcedo Jr. For developmental, educational and financial wellness, the bank’s training entity, SBC Academy, offers rigorous skills and capacities training through seminars on leadership, management, sales and service. Security Bank likewise offers wealth management, financial literacy, investments and insurance to employees, along with a workshop that seeks to prepare employees for retirement financially and emotionally. Its progressive employee wellness program is rooted in its core belief that the bank’s most valuable asset is its people. With its unmatched dedication to the well-being of its employees, it comes as no surprise Security Bank can boast a proven track record in banking excellence.

Getting out of a rut SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

OU have had one of those days. It is like everything has conspired to unnerve and annoy you and every little thing ticks you off. Everywhere you look seems to be out of place and depressing. If you are leading a team, this could get out of hand, and your bad mood can affect your team’s overall disposition and even productivity. No one likes a boss prowling the hallways like an enraged bull ready to gore down anyone unlucky enough to be in his path. You do not want to be that bull. So how do you get out of the rut when this happens to you? One of the best things you can do is to eat. People coined the term “hangry” to indicate irritability because of hunger, hence, the mashup of the words “hungry” and “angry.” Eating the right kinds of food alleviates your mood and keeps you up and about. In my team, we started a Biggest Loser contest last January and one of my teammates, who was not part of the contest, commented on how some people’s behavior changed over the past weeks. He said a person’s mood when on diet is different from when they can eat whatever they want. This just goes to show that you need to eat properly to keep the hunger pangs at bay making you less irritable. You can take eating to a new level by eating outside. It does not matter if you bring packed food or if you buy food. Just eat outside. Sometimes it is the office environment and the stress it brings that makes you irritable. Being in a different environment helps you find your center and gives your mind a break from the stress or monotony of office work. If you cannot go out, find a spot in your office where you can look outside while eating. A new perspective will boost your mood. So do not be guilty by taking a break.

When being in a bad mood comes from being tired and hungry at the same time, a quick bite can go a long way to improving your mood. So go ahead and treat yourself. You deserve it. Sometimes the bad juju comes from feeling estranged from people. One of the common sources of being in a bad mood is the feeling of guilt, which can be easily remedied by apologizing to the person we offended and making amends—and leaving it at that because that is all we can do. So you also need to forgive yourself for your shortcomings and find ways to make yourself better. But to dispel the lingering sense of guilt, you can use distraction techniques to equalize your mood. You can watch a funny video clip or listen to your favorite artist to get your mind off whatever is bothering you. Social media can also contribute to your irritability. People started labeling anxiety caused by fear of missing out with the acronym FOMO. You posted a photo on a social-media site, and after a few minutes, no one has liked it. For some, this can cause irritability. In case you are like this, do not take it personally. People check their social media on the fly, and sometimes they do so while waiting in line or being stuck in traffic. One of the things I did was a social-media fast. The last time I checked my socialmedia accounts was last September. I realized some of the things I read there just irritated me and got me worked up, so I stopped. That gave me more time to focus on people I care for and have more interactions with them. Speaking of interactions, sometimes a bad mood is caused by a feeling of disconnection. You might be missing a family member or a really good friend you have not talked to for a long time. Calling familiar people who love you unconditionally is an effective way of boosting your mood. A safe person keeps you feeling good about yourself and your accomplishments. They know all the right words to say to make you feel better and know you well enough to chastise you when needed. Another effective mood booster is to help someone. Altruism increases oxytocin levels and makes you feel good about yourself. When you help someone, it makes you appreciate what you have and thankful for all the things not everyone can enjoy. The feeling of satisfaction from helping someone gives you a natural high because your body also reacts by releasing

endorphins, which are the happy hormones. In turn, you feel better about yourself. Helping someone also acts as a small win, which gives you additional fuel to do your other more difficult tasks and helps stave off the feelings of frustration or anxiety. Challenging tasks also have a way of getting you down. Aside from breaking them down into smaller tasks and spacing them off into realistic timelines, you also need to accept that are some things you can and cannot do. For the things you cannot do, let them go. Instead, focus on the things you can do and excel in them. In my line of work, dependencies from other groups can really weigh down the completion of a project. While we encourage, push and then later on demand deliverables, we still need to accept their limitations and work around them. Do not sweat the small stuff and focus instead on what you and your team can do. Like what a wise and important person in my life once said, do not be bogged down by the small trivialities that just agitate and frustrate you. By focusing on what you can do, you lessen your frustration and you do not overly exert yourself on something that cannot be helped. What you can actually do is to exert effort to exercise. One of the benefits of exercising is it keeps your body in top condition to face the challenges of your work and your personal life. Like what I said in my previous column, it releases endorphins, which make you feel good and helps you think clearly. I cannot overemphasize the need for exercise as part of your regular schedule because it has numerous benefits. For future pick-me-ups, write a gratitude journal. Get a notebook and, at the end of each day, write just one thing you are thankful for. Not only does it force you to see the good in your day but it also becomes a repository of the good things that happened to you. So when the day comes and you feel really down, read some of your entries. It will make you appreciate where you are now and give you enough fuel to get through the slumps. Feeling down is normal, but staying there isn’t. There are so many things you can do to get yourself out of a rut. Try one or two of the things listed here. You just might find a breakthrough, which will help you overcome that slump and be on your way to a happier and more productive you. n

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Never too late to get a fresh start AFTER having pushed yourself to the brink the past year, it is time to bring back the focus to where it is needed—on you. It is time to treat yourself better, prioritize your health and well-being, and get into that winning mindset. With Rustan’s wellness campaign dubbed “A Fresh Start,” you can get back on track with your health goals (www.facebook. com/rustansph). As we all know, it takes more than just willpower to achieve your goals so Rustan’s offers you the support you need by ensuring that you’re equipped with the essentials to kickstart your health journey. Enjoy substantial discounts and excellent treats from global brands, such as Under Armour, Nike, New Balance, Oakley, Champion, Reef and Jack Nicklaus.

Of course when it comes to committing to a healthy lifestyle, it’s not just about making sure the body is fit on the outside but also ensuring that it is healthy on the inside. And you can do that by nourishing yourself with good food, which becomes easy to whip up for yourself and your family with the exciting offers and inspiring workshops from such renowned kitchen brands and products, including Tefal, Kuvings, Idrogen, Hebe, Kitchenaid and Vitamix. There are plenty of ways one can explore and embrace to arrive at a better and healthier version of oneself. Choose the health and fitness program you can easily commit to, then gear up toward that admirable goal.

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BusinessMirror E1 | Wednesday, February 20, 2019 • Editor : Tet Andolong

INTELLIGENT, HIGH-GROWTH

INVESTMENT IN LUXURY REAL ESTATE

OME people may feel it is time to start making long-term investments or add to their assets. Whether you are making an investment for the first time or wanting to diversify your portfolio, real estate is always a sound choice as land and home will always have value. If you have the resources, investing in luxury properties is an even better proposition as the market is less volatile and your asset is at less risk. If you choose to invest in luxury property, take into account sustainable design, high-quality materials, and tasteful and stylish finishes, most desirable features of what is going to be your home and for the best returns in the long term. Of course, not all luxury real-estate developments are created equal. From stunning high-rise communities to lush intimate neighborhoods, real-estate brand Filigree not only redefines luxury but also ensures that clients get real value for their investment. The most premium of Filigree's luxury projects is Botanika

Nature Residences—in location, design and construction, as well as features and amenities for a comfortable and stress-free life. Everything about the project is in keeping with the vision of Filigree, which has set the gold standard in property development.

Impeccable features

AN unparalleled life of comfort awaits you at this remarkably lowdensity residential complex. With garden-inspired design and features, fine details and superior quality, Botanika offers residents exclusive amenities, such as tiered pools with a sun deck in a lush setting; outdoor play area with tree houses; indoor children’s play area; and a state-ofthe-art business center. It also has an atrium, which features running

water that is calming while a scenic elevator gives an unobstructed view of the surrounding greenery. Botanika has adopted sustainable and eco-friendly features demanded by today's discerning buyers—yet, another testament that green is the new luxury, more so as the metropolis becomes ever congested and polluted.

Units at Botanika are wellplanned and generously laid out, the interiors complementing the world-class exteriors. The units' excellent space planning and luxurious finishes were done by multinational consultants—Miaja Design Group Pte Ltd. for interior design and Architecture International and AECOM for landscaping.

Desirable location

BOTANIKA is nestled in the quietest part of Filinvest City, Alabang, the premier garden central business district in Metro South. It offers a calming retreat after a busy day while providing the perks of a modern metropolis. All things essential are within reach: learning institutions, such as De La Salle Zobel, Paref

Southridge School, San Beda College Alabang and Far Eastern University Alabang; medical facilities like Asian Hospital and Medical Center; shopping and commercial centers like Westgate Center and Festival Alabang; plus the five-star Crimson Hotel and the exclusive Palms Country Club. The continuous growth of Filinvest City guarantees that Botanika will increase in value. The dynamic economic hub in Metro South, Filinvest City is a live-work-play community developed from an impressive "green" masterplan. Land values at Filinvest City averaged P300,000 net per square meter as of June 2018, a 23 percent year-on-year growth. Take-up of residential projects in Alabang almost doubled in the third quarter of 2018 as well at an average rate of 16.4 units per month, compared to 9.9 units per month in the second quarter of 2018, based on a report from Santos Knight Frank. Sales of Botanika units remain brisk with Tower 1 now fully functional and ready for occupancy with only a few units left. The price per sq m has been increasing since the property opened its doors and is expected to rise further now that Botanika is also available for leasing. botanika.com.ph.

UAP calls for establishment of office By Rizal Raoul S. Reyes @brownindio

HE United Architects of the Philippines (UAP) recently stressed the need to form an Office of the City Architect in every local government unit (LGUs) to ensure the quality and design standards of buildings are maintained. UAP President Benjamin Panganiban told the BusinessMirror in a recent interview that the architect’s group wants to position the Office of Architecture on the same level as the office buildings. He said more than 30 cities around the country are implementing Republic Act 9266 which “states that architects should

only be the one to sign in the architectural permits.” “We want that permit precisely in the building officials precisely to be implemented,” Panganiban pointed out. Panganiban pointed out that the UAP wants the architectural permit to be implemented nationwide. Moreover, he said the UAP also wants the office of the city architect to be set up in every local government unit. In the local government code, establishing a city architect’s office is only an option. “However, with several changes happening around us influenced by the opening of the economies of members of the Association of Southeast Asian Nations [Asean] and continuous economic growth of the

country, it is impossible not to have an office of the city architect.” “Take Davao City for example where I come from. We have the office of the city architect there. Even in the suburbs in provinces surrounding Davao City, we have also architects in there in the office of city architect,” Panganiban said. He said the UAP is also discussing and promoting the importance of having an office of the city architect in LGUs to address the challenges and demands of modernization. Aside from Davao City, other cities with such office are Quezon City, Cebu City and Mandaue City. Aside from pushing for the estab-

lishment of the office of city architect, Panganiban said the UAP is also active in lobbying for architects to head the office of the building officials. Expounding, Panganiban said it is time to give architects the top post of heading the building officials because “we feel the academic qualifications of the architects and the building officials are quite proportionate to each other.” Moreover, he said the campaign of putting the architect at the helm of the building officials is getting popular because many people are now realizing that architects have an important role especially in handling high-rise structure development.

Panganiban said the UAP is also active in promoting the different disciplines of architecture, such as heritage conservation, liturgical architecture, mixed use, commercial, high-rise, hospital architecture, hospitality architecture, management services, PWD buildings and urban community design. He added, “We want to bring that to the fore and emphasize to people that our prime work is not only in the beauty of it but the functionality of the structure. This is important for our profession to succeed.”

UAP President Arch. Benjamin Panganiban

Business

E2 Wednesday, February 20, 2019

Why REITs will be big in 2019 Amor Maclang

FIRST DIBS IN REAL ESTATE

INCE the passing of Republic Act 9856 in 2009, the real-estate market has been anticipating the realization of the Real Estate Investment Trust. Challenges, such as high friction cost and the level of minimum public float, have discouraged developers and property owners from transfering their assets into REITs. But with the recent move by the government to amend the rules on REITs, 2019 might be the year when we finally see the first wave of REIT companies take off. A REIT is a publicly listed stock corporation that owns incomegenerating real-estate assets, such as malls, offices and hotels. Envisioned to promote the development of the capital market, REITs are instruments to recycle capital. REIT companies are also mandated by law to distribute 90 percent of their retained earnings as dividends, which benefit investors. Rick Santos, chairman and CEO of leading property consultant Santos Knight Frank, believes there is no better time for REITs to enter the market than now. “REITs have the power to democratize the Philippine property market, allowing the small individual investor on the street to invest in high-value real-estate assets

along with the big players,” said Rick. A real-estate veteran, Rick and his team were involved in helping craft the REIT Act a decade ago with one of the law’s proponents, the late Sen. Edgardo Angara. Rick today leads Santos Knight Frank’s REIT advisory group that provides a wide range of REIT-related services to clients. His company is part of the Knight Frank Global Network with presence in prominent REIT markets such as Singapore, Hong Kong, Australia, the US, Malaysia and Thailand. Having advised REIT corporations and investors on structure, management and legal requirements, Knight Frank has been extensively involved in various services to support REITs, such as valuation, IPOs and due diligence work on the acquisition of assets. In Hong Kong, Rick saw first hand the success of H-REITs when the first company, The Link REIT, was launched in 2005. Backed by

RICK SANTOS

Knight Frank’s global experience, Rick believes on the promising future of the industry once REITs take off in the country. “REITs will benefit not just the real-estate sector but the economy at large,” said Rick. Here are the key reasons why:

1. New capital for development and regional expansion

REITs are publicly listed companies that own income-generating realestate assets. By transferring assets into REITs, developers and property owners recycle capital and generate funding that can be used in additional property developments and expansion projects, especially in growth areas such as the provinces. The Link REIT’s IPO in Hong Kong

in 2005 was valued at $2.5 billion. India’s first REIT—a portfolio of Blackstone and Embassy Group set to be offered this year—is estimated to raise $1 billion and inject muchneeded capital in the market. “REITs will unlock new capital and potentially fuel construction activities and growth across the country,” said Rick.

2. Job creation

NEW jobs come throughout a property asset’s life cycle. As more developments emerge, the local work force is tapped to fill in jobs created by tenants and new businesses. Since REITs can also include real-estate assets, such as schools, hospitals, power plants and infrastructure, the job-creation opportunities cover

a vast range of industries. The Association for Real Estate Securitisation in 2012 estimated that Japanese REITs generated a total of 300,000 jobs between 2001 and 2011. One sector that has benefited from the expansion of real estate is the IT-BPM industry, which today employs about 1.5 million direct jobs and 3.5 million indirect employees. If newly generated capital were to be poured into expanding major sectors such as office (IT-BPM) and manufacturing, the multiplier effect will be highly beneficial for the economy.

3. Low risk

A REIT is seen as a less risky form of investment and less susceptible to speculation. With REITs, investors earn through dividends and capital

appreciation. The law requires that 90% of a REIT’s retained earnings should be distributed as dividends. Amid the volatility of stocks, investors who are looking for stable investments will find REITs more attractive than other financial instruments.

4. Real-estate innovation and best practices

REIT companies will look for ways to grow and invest in assets with attractive returns. This pressures REITs to be creative and drive the expansion of emerging and niche sectors, such as coworking, coliving, logistics and tourism. Publicly listed, REITs will also inevitably adopt international best practices to run their assets as they strive to meet high standards of asset management and transparency.

Cemex Philippines pledges support for government’s ‘Build, Build, Build’

IGNACIO MIJARES, Cemex Philippines president and CEO

LOBAL building solutions manufacturer Cemex Holdings Philippines expressed its commitment to provide a stable supply of cement solutions to support the government’s “Build, Build, Build” agenda during the recent The Asset 13th Philippine Forum held at the Grand Hyatt Manila Hotel in Bonifacio Global City, Taguig. “Build” and “Innovate” were central themes during the forum that gathered investors, key issuers, regulators, and representatives from financial institutions across the Association of Southeast Asian Nations to discuss the macro outlook that could shape the country’s growth

this year and cite market reforms that could further bolster growth. In 2018, the Philippine GDP impressed with a growth of 6.2 percent on the back of surging infrastructure-driven public spending. Ignacio Mijares, Cemex Philippines president and CEO, affirmed that the Philippines continues to be one of the most exciting markets in the company’s global network, as the country’s economy remains bullish and as the government ushers in a “golden age of infrastructure.” “Infrastructure activity can easily grow double-digits in the coming years, especially now that the projects under the Build, Build,

THE Asset 13th Philippine Forum gathered investors, key issuers, regulators, and representatives from financial institutions across the Asean region.

Build program have broken ground,” said Mijares, who was one of the speakers during the “Build and Innovate” panel discussion. “The key to building the future is through sustainability and innovation, and we’re happy to be part of this way forward.” The company plays a pivotal role

in the country’s growth narrative. Cemex is currently the exclusive supplier of cement for the CebuCordova Link Expressway, which is intended to ease the traffic situation in Cebu. The province is home to Apo Cement Corp., Cemex’s biggest cement plant in the country. Supporting Build, Build, Build is

significant for Cemex, as the company values its partnership with the government and the Filipino people for nation-building, since it established itself in the local market in 1997. At present, the challenge to supply, according to Mijares, is how to serve the needs of the market in

the most efficient manner and to improve operations to mitigate the impact of higher input costs. “The strategy for the coming years is to increase the use of alternative fuels and lower-grade coal to reduce input costs. We have also initiated partnerships with corporations who have solid waste produce that we can use as refuse derived fuels. The goal is to create a win-win platform for us, our partners and most especially the environment,” said Mijares. The company also recently launched Cemex Go in the Philippines. Through this first-of-its-kind, fully digital customer integration platform, customers can get more businesses done in less time by being able to transact and interact with Cemex anytime, anywhere using their mobile devices. Cemex has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future. Its high-quality products and reliable services are available in more than 50 countries worldwide. In the Philippines, Cemex subsidiaries Apo Cement Corp. and Solid Cement Corp. produce and market a broad product mix of building solutions. These cement manufacturing plants carry the well-established cement brands APO and Rizal.

sMirror

Wednesday, February 20, 2019 E3

Why you should go for a house and lot today

FFORDABLE costs, shared amenities, and proximity to business districts fuel the popularity of condominiums and coliving apartments. However, an online real-estate comparison study shows that the majority of Filipinos still prefer living in house and lots. They also identify a surge in property searches in the provinces, due to rapid urbanization and expansion of roads and highways outside Metro Manila. For families looking to elevate their lifestyle, a house and lot is a long-term investment that gives them more reasons to live well. Analysts point that lot owners have flex-

ibility and are able to grow their property depending on their needs, such as the addition of children or pets. Unlike in a condo unit or apartment, they have control of remodeling or modifying the abode to add rooms or outdoor spaces like a garden, yard, or extra parking. Owners also enjoy privacy and security that gated house and lots

provide. Moreover, owners are free to add other measures, such as a fence or security devices. AboitizLand understands the advantages of owning house and lots and now introduces Ajoya, a mid-market residential development offering gated masterplanned communities in Caba-

COMMUNITY

Lifestyle decisions that affect climate change

ANY of us might look at climate change as too big of a problem for one person’s efforts to make a difference in fighting it. What we don’t realize is that the little things we do on a daily basis have a big impact on the environment. Every day, we consume food, we buy things and we throw away trash as a result of this never-ending cycle of consumption. As a result, we produce tons and tons of garbage that are sent to landfills. Trash in landfills produces methane, which is a greenhouse gas that contributes to climate change. Below is the list of everyday activities that seem mundane but actually generate huge volume of garbage: n Too much food production. According to the Food and Agriculture Organization of the United Nations, one-third of food produced yearly is wasted. The unconsumed or excess food adds to carbon emissions that harm the environment. Avoid wastage by getting only the food that you can consume. n Too many clothes. The fast-changing fashion landscape comes at a huge cost to the environment, as it contributes to water pollution, toxic chemical use and textile waste. To help Mother Nature, reuse old clothes and practice smart shopping for new clothes. Buy clothes that will not go out of fashion and/or those that can be styled in different ways. n Use of disposable products. Disposable items lead to more waste. While they make life more convenient, they also cause pollution and resource depletion. Paper cups, plastic water bottles, disposable cutlery, plastic bags and food packaging are harmful to the environment. Avoid using them and use instead portable tea mugs, tumblers, reusable cutlery, eco bags and airtight containers that you can use again and again.

n Use of electronics. E-waste or e-scrap is waste from electronic and electrical devices like DVD and music players, televisions, telephones, computers, vacuum cleaners and similar things. Some e-waste (like TV) contains lead, mercury, cadmium and brominates flame retardants that are harmful to humans and the environment. Proper disposal of such waste is very important. In a developing country like the Philippines, the garbage problem is worse because of rapid urbanization, economic growth and development, and changes in lifestyle and consumption patterns. Major cities in the country, particularly Metro Manila, face massive solid waste management problems due to lack of landfills, overflowing dumps and improper disposal of garbage on streets, in canals and rivers. An effective solution to the mounting garbage problem is the use of incinerators that use the innovative technology called pyrolysis, which breaks down large molecules of waste such as agricultural residues, scraps, tires and nonrecyclable materials into smaller molecules of gas, oil and carbon black. The common byproduct of pyrolysis technology is ash, which can be mixed with aggregates for construction purposes. This type of technology has no harmful smoke, no smell nor loud noises. If integrated with solid waste management, incinerators can reduce carbon emission from waste transfer, reduce cost of solid waste disposal and promote zero-waste-to-landfill. But while solutions like incinerators can effectively minimize the volume of garbage, it cannot be denied that addressing the problem from the source is the more urgent and imperative course of action to fight climate change. It’s high time we each did our share: simplify our lifestyles, substantially reduce our consumption and minimize the waste that we generate every single day.

natuan and Capas. The former is a 19-hectare property in Barangay Valle Cruz, Nueva Ecija, while the latter is a 13-hectare development in Barangays Talaga and Estrada in Tarlac. “A secure and comfortable house and lot improves a family’s quality of living and their daily interac-

tions, and gives them a lifelong sense of fulfilment. Ultimately these are the benefits that we want our vecinos to experience when they become owners of an AboitizLand property, including Ajoya,” said John Amon, AboitizLand vice president for marketing and reputation management.

Ajoya is inspired by the iconic Filipino bahay na bato, with houses featuring traditional elements like the azotea (porch) and ventanilla (small window), evolving to match today’s styles. The neighborhood is built around a vibrant town plaza, reminiscent of a traditional Filipino community landscape. To further foster interactions between vecinos (neighbors) Ajoya provides a clubhouse, a multipurpose hall and a pool with an open gazebo. The community is designed to encourage walking so vecinos can build rapport and take in nature at the pocket parks and green belts. All of Ajoya’s amenities are purposefully designed to contribute to the increased quality of life for vecinos, while offering all the benefits of an owned house and lot. Ajoya Cabanatuan property prices range from P3.2 million, to P5.5 million while Ajoya Capas’s are from P1.7 million to P3.5 million.

Bacoor, Cavite now offers top-grade office developments

WING to Cavite’s rich labor pool, urban centers like Bacoor and other Cavite cities close to Metro Manila are now hosting office projects designed to accommodate business-process outsourcings, online gaming firms and expanding businesses. The CBC Asia Technozone offering gross leasable area of 32,770 square meters. would seem to fit in more in Metro Manila’s bourgeoning business districts. But a move to decentralize office spaces away from the crowded capital has prompted developments like this twin-tower complex in secondary cities. The trend toward decentralization will continue until 2023, according to Phillip Anonuevo, director of Leechiu Property Consultants (LPC), a leading real-estate services firm. Aside from cities accessible to Metro Manila like Bacoor, key beneficiaries of the move also include the cities of Cebu, Angeles and Davao, estimated to collectively add close to

1.32 million sq m of office space in the next five years, according to a recent LPC study. He also observes that in addition to BPO firms, online gaming companies are also looking to move out of Metro Manila into places like Bacoor, where the local government has put out the welcome mat for them and other firms that they foresee will pump-prime their economies further. After all, a 32,770-sq-m building like CBC Asia Technozone offering large floor plates, multiple telco providers, and four Mitsubishi elevators per tower can generate as many as 5,000 to 6,000 local jobs. “That could mean that some 5,000 Cavite residents, who now commute daily to the metropolis for as long as two hours one way, could travel only as far as Bacoor and thereby cut down travel time and improve quality of life,” according to Anonuevo. CBC Asia Technozone has a superior loca-

tion along Aguinaldo Highway, a main thoroughfare connecting Cavite with Metro Manila. Through Cavitex, it is also on average 15 minutes away from Aseana City and the rest of the booming Bay area. Its first tower to be completed by the first quarter of 2019 has a typical floor plate of 1,980 sq m. Its second tower to be completed at the same time has a typical floor plate of 2,278 sq m. Both are 10 stories high, have 100-percent backup power with energy-saving features, and VRF air-conditioning. The building, which has applied for Philippine Economic Zone Authority accreditation, will also have LED advertising on its façade and a basketball court at the top of one of the towers. The court is convertible into an events place. By attracting more jobs, a city like Bacoor is also likely to generate demand for healthcare entities, leisure facilities and educational institutions, points out Anonuevo.

Entrepreneur BusinessMirror

E4 Wednesday, February 20, 2019

Royce Jeric Chua: Sharing the Eng Bee Tin legacy with aspiring bakers

By Rizal Raoul S. Reyes

@brownindio

Contributor

OYCE JERIC CHUA, president of the Philippine Society of Baking (PSB), wants to improve and enhance the skills and capabilities of aspiring bakers to be competitive and to be better entrepreneurs. For the last two years, the PSB has conducted a lot of training programs in bakery mathematics, production, financial management, and product standardization, among others. Chua said the PSB also aims to conduct new seminars intended for small and medium enterprises (SMEs) to help aspiring entrepreneurs in the early stages of the business. “We are a good way to open a bakery business,” Chua told the BusinessMirror in an interview on the sidelines of the recently concluded Bakery Fair 2019. Chua, also general manager of the Binondo-based popular bakery brand Eng Bee Tin, said a lot of Filipinos are interested to join the bakery business because Filipinos love to eat. “Being a basic human need, food [like bread] is really going to be a very important part of an individual’s daily intake,” Chua said. He said the goal of the PSB is to elevate and upgrade the capabilities of local bakers so they can move up the value chain, which will lead to bigger markets in the future. “For example, if you have noticed before that, the quality either of your bread or cake, the PSB can help you upgrade the standards of

From 12 to 22 The increase in the number of flour mills operating in the country in recent years

PETER FUNG (standing), president of the Filipino-Chinese Bakers Association Inc., Jerry Chua, board member, and son Royce Jeric Chua pose for a snapshot during the recently concluded Bakery Fair 2019 held at the World Trade Center.

your bread or cake,” Chua said. “When you attend the seminars conducted by the PSB, we will tell you the reasons your products don’t appeal to the market,” he added. Chua said seminars organized by the PSB would teach first-time bakers and entrepreneurs several aspects of the bakery business to ensure they will run on a sustainable basis. Right now, it is a nationwide project being conducted in Luzon, the Visayas and Mindanao. Moreover, Chua said PSB has formed a partnership with the Technical Education and Skills Development Authority (Tesda) to teach the trainers new sets of skills to achieve better results for their baking business. “We also witness the training of trainers toward higher levels of skills,” he added. Chua said the baking industry has grown tremendously in the past

years. This has been manifested with the growth in the number of flour mills from 12 to 22. Moreover, he said, the market offers growth, as even major players like Gardenia had established a solid presence in the Philippines. Another growth driver is the consumption of wheat-based products by Filipinos. There is also a growing number of Filipinos who need guidance in their baking business. “I am encouraging anybody who is interested to join the bakery business to at least [be a] part of our group so we could help and assist…in running the business,” Chua said. For example, he said, the PSB could assist a fledgling baker on how to manage the business. “We can assist a new baker on how to minimize or eliminate wastage,” Chua said. “If your wastage is high, your enterprise will not be profitable,” he pointed out.

Chua said an individual does not need to be a member of the PSB to join the seminars. Moreover, he said the PSB also conducts free seminars. “We also have seminars on bread science and cake science,” he said. Meanwhile, Peter Fung, president of the Filipino-Chinese Bakers Association Inc. (FCBAI) expressed satisfaction on the turnout of the recently concluded Bakery Fair 2019 held at the World Trade Center. When he was inducted as president of FCBAI a year ago, Fung, also the president of Ling Nam, said their power requirements were more than doubled and nearly tripled compared to Bakery Fair 2017. Moreover, he said, there were more exhibit booths and more new products featured by the exhibitors this year compared to the previous edition two years ago. In his opening speech, Fung also commended the three past FCBAI

presidents Henry Ah of Liberty Food Mart, Benito Ong of Baker’s Fair and Gerie Chua, popularly known as Mr. Ube, of Eng Bee Tin fame for their pioneering efforts in promoting baking in the country. “When these three musketeers started selling the idea of holding our own bakery show in the Philippines in the year 2000, they were called all sorts of names from the three stooges to outright crazy. It was tough and hard sell idea of holding for an exhibit exclusively featuring bakery products and seminars promoting local Filipino-baked goods and Chinese pastries. It was never heard of at that time,” Fung said. In 2001, Fung said Ah, Ong and Chua proved the cynics wrong as they successfully held the first bakery show in 2001 at the Philippine Trade Center. “Eng Bee Tin products have found their way to the US market, Middle East, Australia, even Europe and [had] slowly become a global brand. Liberty Food Mart produces products for some of the biggest burger chains in the country and a leader in the promotion of artisan and healthy breads. And Bakery Fair is a very popular household name among housewives because of their diced hopia and hot pan de sal,” Fung explained. He said the biennial event is now part of FCBAI’s corporate social responsibility to give back to the community. Through Bakery Fair, Fung said FCBAI hopes that it can inspire young Filipinos and Chinese Filipinos to love baking, to become entrepreneurs and become a driving force of the Philippine economy. The 52-year-old FCBAI head aims to promote better baking standards, service and ethics; conducting many educational, research and development and socio-civic projects.

27-year-old female CEO’s start-up gets near $1-billion valuation

ILINGO Pte.’s path to becoming a fashion platform with a valuation approaching $1 billion began in December 2014, when Ankiti Bose, then an analyst at Sequoia India, chatted with a neighbor at a house party in the Indian tech capital Bengaluru. Bose, then 23, and Dhruv Kapoor, a 24-year-old software engineer at gaming studio Kiwi Inc., quickly realized they had complementary skills and similar ambitions to build their own start-up. Four months later they had quit their jobs, and each had put in their $30,000 in savings to found Zilingo, an online platform that allows small merchants in Southeast Asia to build scale. On Tuesday, the Singapore-based company said it raised $226 million from investors, including Sequoia Capital and Temasek Holdings Pte. The latest financing valued Zilingo at $970 million, according to people familiar with the matter, who asked not to be named because the information is private. That makes 27-year-

old Bose among the youngest female chief executives to lead a start-up of the size in Asia. Female founders remain rare in the global start-up world. Of the 239 venture capital-backed start-ups around the world worth at least $1 billion, only 23 have a female founder, according to data from Pitchbook in May last year. “We were a bunch of twentysomethings with nothing except this dream and we decided to chase it,” Bose said.

Shopping online

BOSE is now part of a group of founders in Southeast Asia who are capitalizing on the region’s rapid adoption of smartphones and rising incomes. Online shopping in the region reached $23 billion in 2018, according to a report by Google and Temasek. It’s expected to exceed $100 billion by 2025. Zilingo posted revenue of S$1.8 million ($1.3 million) in the year ended on March 31, 2017, up from

about S$434,000 since its inception though in March 2016, according to the company’s most recent filing with Singapore regulators. Revenue grew 12 times in the year ended March 2018 and fourfold in the January to April period, according to the company. Kapoor holds the title of chief technology officer. The company started off by helping small merchants sell to consumers, and has since expanded into new areas. As the founders dealt with thousands of small sellers, they realized that many lacked access to technology, capital and economies of scale. So they expanded, developing software and other tools to allow vendors to access factories from Bangladesh to Vietnam and also help with cross-border shipping and inventory management. Since 2018, Zilingo has also worked with financial technology firms to provide working capital to small sellers so they can buy raw materials to produce goods. Listings are provided for free with

the company charging a commission of between 10 percent and 20 percent on orders.

Fashion site

SOME of Bose’s early inspiration came from a visit to Bangkok’s popular Chatuchak market, which features more than 15,000 booths selling goods from across Thailand. She realized the sellers didn’t have sufficient opportunities to expand. Since setting up its first presence in Thailand and Cambodia in 2015, the company has grown to have offices in eight countries with 400 employees. It operates fashion e-commerce sites in Indonesia, Thailand and the Philippines and is preparing to launch in Australia soon. While Bose has figured out a way to differentiate Zilingo, her challenge is to now manage the company’s “hyper-growth” by recruiting the right leadership team and maintaining the right culture, said Shailendra Singh, managing director of Sequoia Capital (India) Singapore.

Raised in India, Bose’s father’s job as an engineer at a state-owned oil company caused the family to constantly move when she was a child, exposing her to different cultures and languages within the country. Her mother gave up her career as a university lecturer and devoted her time teaching her only child at home. Bose excelled as a student, studied math and economics, and eventually landed a coveted job with consultancy McKinsey & Co. in India, where she covered India’s burgeoning technology, media and telecom sector. She took the calculated plunge to set up Zilingo, she says, after gaining expertise evaluating major start-ups in Southeast Asia at Sequoia India’s venture capital business. As she did that, she saw a huge opportunity to build a business herself. “I kept raising my hand and said, ‘Teach me everything,’” Bose said of her pre-start-up years. “I busted my ass, working 18 hours a day because it was so much fun.” Bloomberg News

Baguio MSMEs find space at ‘food camp’

AGUIO CITY—Food items produced by micro, small and medium enterprises (MSMEs) here have found a venue at the Baguio Country Club’s (BCC) “food camp,” which opened on February 15. “The Baguio Country Club is helping the small businesses in this city to market their products at the food camp established at the compound as an additional attraction for the visitors of the city,” said Andrew Pinero, BCC communications officer and client relations manager, in a phone interview on Monday. “This year, we came up with a concept more or less to help promote our MSMEs who would want to break in the industry so we are giving them opportunities to operate inside the food camp,” Pinero said. The food camp will serve as a one-stop shop and the club’s contribution to the city’s tourism, providing new and alternative activities for tourists and locals alike. He said one of their advocacies is to help MSMEs promote their products. “The best way to help promote the MSMEs is to let them operate inside the food camp,” he said. The food stalls included that of “Balajadia Kitchenette,” “Hanzys Binalot,” “Frutas,” “BrrrGrrr Bistro,” “Lopez Barbecue,” “Kim Cu imported chocolates,” “Siomai” and “burgers” food stall. Also sold at the food camp are pastries made at the club’s bakeshop, and homemade ice cream made by “House Of Aerith Mei.” He said locals and tourists do not have to go to each of the shops, they can simply visit the food camp and avail themselves of almost all the products of MSMEs. As an added attraction, there will also be entertainment provided by local bands and singers on Fridays, Saturdays and Sundays. The food camp is open from 5 p.m. to 10 p.m. during weekdays and 10 a.m. to 11 p.m. on weekends. “We brought everything here inside the camp, the food, the entertainment, so the locals and the tourists can have a good time during their stay with us,” he said. Last year, the BCC food camp offered a variety of Japanese, American, Mediterranean, Mexican, Chinese, Filipino cuisines, aside from sumptuous desserts. Pinero said this is the first time that BCC has accommodated MSMEs in its activity, after seeing the need to help small businesses. He said with the concept of a family getaway, pets are allowed in the food camp, saying there are also souvenir shops and a stall for pet grooming and toys. “We know that the locals here in Baguio as well as the tourists are very fond of animals that is why we have a pet grooming station inside the camp,” he said. “This is really an adventure for families, they can enjoy doing outdoor activities and of course the cool weather of the city,” he said. He said their operating hours might change based on public demand. PNA

7-ELEVEN, HOP INN HOTEL BOOST TIE-UP WITH ALABANG C-STORE To keep pace with the growing demand for value-for-money hotel accommodation and retail shopping conveniences, top C-store chain brand 7-Eleven and fast-growing Thai-owned budget hotel chain Hop Inn have partnered to bring both service features closer to their customers. Just recently, 7-Eleven and Hop Inn strengthened their partnership with the opening of a fourth C-store outlet at Hop Inn-Alabang Hotel along Market Street in Madrigal Business Park, Muntinlupa City. Hop Inn Hotel Alabang is a 168-room tower that offers guests sophisticated, no-frills accommodation experience through modern amenities and premium hospitality service standards at best-value rates. Via the ongoing partnership, Hop Inn will be complementing its hotel branches in the Metro with 7-Eleven stores as a way of better catering to their guests’ needs. The move, in return, will significantly expand the foothold and customer base of 7-Eleven in the country under its exclusive licensor, Philippine Seven Corp. (PSC). Apart from the new Hop Inn Alabang C-store, other 7-Eleven branches have opened in Hop Inn Ermita along MH Del Pilar; Hop Inn Aseana Business Park in Barangay Tambo, Parañaque City and Hop Inn Tomas Morato in Diliman, Quezon City. Both PSC and Hop Inn Hotel have confirmed plans of boosting their partnership by opening more C-stores, starting with the soon-to-rise Hop Inn Hotel branch in Cebu Business Park. To date, 7-Eleven’s store network counts at 2,551 outlets, with 1,429 franchise stores.

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THE Baguio Country Club Food camp has opened its doors to food products of micro, small and medium enterprises as part of its assistance to the city’s small businesses. PHOTO COURTESY OF CARLITO DAR/ PIA-CAR