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Friday, February 28, 2020 Vol. 15 No. 141

$1.6-B exports to US at risk from GSP loss S

By Jasper Emmanuel Y. Arcalas

@jearcalas

ENATE Democrats urged the United States Trade Representative (USTR) office to look into the possibility of revoking the generalized system of preferences (GSP) extended by Washington to the Philippines over human rights and labor-related issues, a move that could imperil $1.59 billion worth of exports to US.

The six senators belonging to the Democratic party also said Washington must desist from entering into any future trade negotiations with Manila until the Philippines’s “human-rights

record has vastly improved.” In a letter addressed to USTR Robert Lighthizer, the senators expressed their “distress” that the Duterte administration “continues to violate internationally recog-

nized worker rights” and urged an “out-of-cycle review” of the Philippines’s compliance with its obligations under the GSP. An out-of-cycle review, if granted, would be remarkable because

$9.2B The Philippines’s total exports to the US in 2017, making America the country’s second-biggest market after the combined markets of China and Hong Kong. GSP exports account for about 18 percent of these

some of the Philippines’s trade privileges, such as those granted by the US and the European Union, entail periodic reviews. See “Exports,” A2

P25.00 nationwide | 5 sections 42 pages |

2019 BUDGET DEFICIT WIDENS TO P660.2B By Bernadette D. Nicolas @BNicolasBM

HE national government recorded a budget deficit of P660.2 billion last year, higher than the P558.3 billion in 2018, as expenditures outpaced revenues despite the budget delay and the election ban in the first half of the year. Official government data indicated that the budget deficit last year was equivalent to 3.55 percent of GDP, larger than the administration’s target of 3.25 percent of GDP for 2019. According to a report from the Bureau of the Treasury (BTr), the deficit-to-GDP ratio last year was also up from 3.20 percent in 2018. The widening of the fiscal gap was driven by the robust disbursements in December, which surged by 57.83 percent to P494.4 billion, from P313.3 billion in the same month in 2018.

Salceda estimate: PHL lost $12B from Citira OK delay By Elijah Felice E. Rosales

@alyasjah

HE Philippines has lost at least $12 billion worth of investments over the past two years due to the prolonged deliberations on the second tax reform bill, as foreign investors hesitate to set up shop in the country with the fiscal structure yet to be finalized. Albay Rep. Joey S. Salceda on Thursday told reporters that $12 billion in investments has been either stalled or lost due to the delayed passage of the Corporate Income Tax and Incentives Rationalization Act (Citira) bill. Foreign firms, he explained, are thinking twice about their plans in the Philippines without a final tax policy in place. “Around $12 billion is the notional [losses]—those that should have flowed into the Philippines— because of the two years [of Citira deliberations],” Salceda said.

PESO EXCHANGE RATES n

Comparing the Philippines to its Southeast Asian rivals, he argued that the country has a legislative method that paves the way for longer discussions on proposed laws. He said in countries like Singapore, Thailand and Vietnam, when their government wants to pass a new rule, they can do so immediately without consulting with stakeholders. “Here, it has been two years since President Duterte approved the Citira bill as a priority of his Cabinet. It has been two years hanging now. Foreign investors want to know what tax rate they will be paying when they enter the Philippines,” Salceda lamented. As such, the economist turned lawmaker is calling on his counterparts from the Senate to pass their version of the Citira bill the soonest. He argued that the measure will guarantee stability for the See “Citira,” A2

With the acceleration in disbursements in the last month of 2019, full-year government spending reached P3.797 trillion, which exceeded the programmed P3.769 trillion by P28.1 billion. Spending was also higher by an annualized rate of 11.42 percent or by P389.3 billion. Government revenues last year settled at P3.1375 trillion, P12.2 billion or 0.39 percent short of the P3.1497-trillion target for the year. Last year’s revenue collection still saw an expansion of 10.08 percent year-on-year, from P2.8502 trillion in 2018. The bulk of total collection, or 90 percent, were tax revenues, which swelled to P2.8278 trillion. The remaining 10 percent came from nontax sources amounting to P309.7 billion. “To the extent that fiscal stimulus can be financed effectively and efficiently without causing Continued on A12

PHL banana exports to China seen to normalize

URGENT WORK Workers rush the construction of the MRT 7 project along Commonwealth Avenue in Quezon City on Thursday (February 27) to meet the deadline, as government’s road map to mobility includes putting in place efficient modes of mass transportation. NONOY LACZA

HE country’s banana shipments to China are slowly improving and may soon normalize as businesses resume operations and purchase of the yellow fruit amid the COVID-19 scare, according to the Pilipino Banana Growers and Exporters Association (PBGEA). In a statement on Thursday, PBGEA said the disruption in Philippine banana shipments to China due to COVID-19 outbreaks was “short-lived,” with the Chinese government fully supporting businesses in stabilizing operations. “A month after the dwindling volume of shipments that created a slump in banana price from an average of $8.00 per box to $1.80 per box—causing panic [among] small growers, this has slowly improved owing to the normalization of the situation in See “Banana,” A2

US 51.0470 n JAPAN 0.4623 n UK 65.8864 n HK 6.5506 n CHINA 7.2685 n SINGAPORE 36.5326 n AUSTRALIA 33.4001 n EU 55.5545 n SAUDI ARABIA 13.6057

Source: BSP (27 February 2020)

News

BusinessMirror

A2 Friday, February 28, 2020

www.businessmirror.com.ph

EO creates new task force vs animal-borne diseases

By Samuel P. Medenilla

@sam_medenilla

RESIDENT Duterte has formed a new interagency task force which is mandated to bar the entry of animal-borne diseases in the country. Executive Order (EO) 105 creates the National Task Force on Animal-Borne Diseases (NTFAD) to ensure animal-borne disease, such as the African swine fever (ASF) will no longer infect the local livestock industry. “To effectively address the current outbreak and to prevent or resolve similar incidents in the future involving other animalborne diseases, there is an urgent need to create an interagency task force which will formulate, oversee and implement effective and coordinated policies and strate-

ABS-CBN. . . Continued from A12

The President said, however, the process in Congress should run its course, and distanced himself as well from the quo warranto petition filed against the Lopez-led media giant by Solicitor General Jose Calida.

Cayetano: No assurance

AT the House, meanwhile, Speaker Alan Peter Cayetano, who has engaged critics of the chamber’s foot-dragging on the franchise case, did not offer any firm assurance that the several pending bills for renewal will pass. In an interview, Cayetano, however, said ABS-CBN apologizing to the President for what happened was another good step. “When ABS-CBN CEO Carlo Katigbak made a statement that they’re not perfect, and that they’re willing to look at the mistakes and correct the mistakes, at the same time saying that he will stand up for ABS, that was a good step,” Cayetano said. “It’s important but the urgency is not there because they will not shut down. And we only have six session days [until congressional break]. I can call a hearing just to satisfy the pressure from media but it will do more harm than good,” he added. According to Cayetano, he will meet Committee on Legislative Franchises Chairman Franz Alvarez next week to determine whether the chamber should have an administrative hearing on the franchise soon. “So in our hearings, we will tackle all issues: the employees, how and if and why ABS-CBN management meddled during the 2010 and 2016 elections. But more importantly, if we grant them the franchise for the next 25 years, what reform they will do to [ensure] fair coverage. So we will have fair hearings, we will schedule them,” he said. Last Wednesday, the Legislative Franchises committee sent a letter to the National Telecommunications Commission (NTC) enjoining the agency to grant a provisional authority to operate effective from May 4, 2020, until such time that Congress has made a decision on its application. The ABS-CBN franchise is set to expire on May 4, 2020. The committee told the NTC that it has started deliberating on ABS-CBN’s application for the renewal of its franchise. The Alvarez committee said it has instructed all interested parties to submit their position papers for or against ABS-CBN’s application within a period of 60 days from February 24, 2020. The letter underscored that the House of Representatives has the exclusive original

gies to manage, contain and control the spread of such diseases,” Duterte said. Foremost of the mandate of NTFAD is the development of a national risk reduction program and a comprehensive framework to manage, contain and eradicate animal-borne disease. The task force will also formulate zoning and movement plans to prevent the spread of such animal-borne diseases and develop programs granting financial aid, livelihood alternatives, and skills training to those who will lose their jurisdiction and authority to act on franchise applications. In the same letter, the panel also enjoined the NTC to grant ABS-CBN Corp.’s subsidiaries and/or affiliates, whose franchise applications are pending deliberation with the House Committee on Legislative Franchises, the same provisional authority. These are the following: ABS-CBN Convergence Inc., Sky Cable Corp. and Amcara Broadcasting Network Inc.

MBC stand

LAST week, the Makati Business Club, along with several business groups, issued a statement calling on Congress to deliberate on the renewal of ABS-CBN’s broadcasting franchise. They said it’s just right for lawmakers to raise their issues against the TV giant, but should take into account as well concerns on press freedom and free enterprise. “We fervently urge Congress to judiciously address any issues raised against the company while taking serious account of the bedrock issues of media freedom and free enterprise, which allow businesses to flourish for the overall welfare of our economy and our people,” the business groups said. The statement was also signed by the Financial Executives Institute of the Philippines, Institute of Corporate Directors and the Institute for Solidarity in Asia. The Management Association of the Philippines and the Shareholders’ Association of the Philippines Inc. also joined in. To this call from the business sector, Salceda responded by assuring investors there will be no disruptions in the renewal of the ABS-CBN franchise. “There will be no disruptions. The rule of law in this administration is still the law. The laws are very clear. The rule of law operates and that sets the predictable framework for people to do business here,” the legislator declared.

August hearings

EARLIER, Cayetano said the franchise renewal hearings could be done after Duterte delivers his State of the Nation Address, which is scheduled every fourth Monday of July. “There are two options: [one] is that in May, depending on what we can accomplish in the next three weeks; and the longer option is right after Sona . . . . objectively it’s early August,” Cayetano said. Cayetano said the session days are shorter in May compared to the period of July until October. Under the calendar of session, Congress will take a break from March 14 to May 3. It will resume session on May 4 to June 5 before the sine die adjournment on June 6 to July 26.

Banana. . .

Continued from A1

more ports, reopening of supermarkets and retail shops, as well as resumption of banking services,” PBGEA said. Citing banana importers in China, PBGEA said the Chinese government cannot afford a “longtime downturn”of its economy due to trade disruptions caused by lockdowns to control the

livestock from the said illness. It will also submit regular reports to the President related to animal-borne diseases. “The private sector, nongovernment organizations and other stakeholders are encouraged to participate and support the implementation of the programs and activities to be formulated [by NTFAD],” Duterte said. NTFAD will be chaired by the Secretary of the Department of Agriculture with the Secretary of Health as vice chairman. Its members will include the Executive Secretary as well as the secretaries of the Department of the Interior and Local Government (DILG); Department of Environment and Natural Resources (DENR); Department of Trade and Industry (DTI); Department of Finance (DOF); Department of Budget and Management (DBM); Department of Social Welfare and Development (DSWD); Department of Foreign Affairs (DFA); Department of Transportation

Exports. . .

Continued from A1

The EU recently conducted one such review, but it followed the set (in-cycle) biennial schedule for assessing Philippine adherence to over a dozen standards as part of Manila’s continuing to enjoy its Generalized System of Preference Plus (GSP+) status. Such special status has allowed more than 6,000 Philippine products to enter the EU at zero or minimal tariff. In seeking the out-of-cycle review as basis to determine whether Manila should continue enjoying its GSP status with Washington, the Democrat lawmakers said in their letter to the USTR’s Lighthizer: “We write to express our distress that the regime of the Philippine President Rodrigo Duterte continues to violate internationally recognized worker rights. To that end, we urge you to conduct an out-of-cycle review of the Philippines’s compliance with its obligations under the Generalized System of Preferences and oppose any free trade agreement negotiations with the Duterte regime.” The lawmakers added: “We are gravely concerned that our trade policy could be mistaken for condoning the labor and human-rights violations perpetrated by President Duterte.” The letter, a copy of which was obtained by the BusinessMirror, was dated February 11 and signed by Sens. Sherrod Brown (Ohio), Ron Wyden (Oregon), Robert Menendez (New Jersey), Debbie Stabenow (Michigan), Benjamin L. Cardin (Maryland) and Robert P. Casey Jr. (Pennsylvania). Wyden is a ranking member of the Senate Finance Committee while Menendez is a ranking member of the Foreign Relations Committee.

PHL exports

IN 2017, the Philippines’s total exports to the United States amounted to $9.2 billion, making the US the country’s second-biggest market after the combined markets of China and Hong Kong. GSP exports account for about 18 percent of Philippine exports to the US, valued at $1.59

Term-sharing. . . Continued from A12

Cayetano also said he will honor the termsharing agreement between him and Velasco. “I’ve always said when it comes to the leadership issue, we would follow the President. So he has nothing to worry about,”Cayetano said. Under the term-sharing arrangement, Cayetano would lead the House for 15 months up to October this year. Velasco would serve

spread of the COVID-19. Citing another Chinese banana importer, PBGEA said the yellow fruit remains “the most in demand fruit” in China after vegetables, apples and citrus. “The demand from China is always there, even though there was disruption shortly due to the coronavirus outbreak. Similar to the widespread episode of severe acute respiratory syndrome [SARS] in 2002, we do not see a long-term downward trend for bananas from the Philippines. The concern of Filipino

(DOTr); Department of National Defense (DND); Department of Labor and Employment (DOLE); Department of Justice (DOJ); Department of Tourism (DOT). It also includes the Commissioner of the Bureau of Customs (BOC) and Director General of the Technical Education and Skills Development Authority (Tesda). The secretariat of the NTFAD will be composed of representative from the said government agencies and supported by the Bureau of Animal Industry (BAI) and the Food and Drug Administration (FDA). The DBM is tasked to identify the funds needed for the operation of the NTFAD. Duterte created the task force as ASF continued to spread in many parts of the country despite stringent measures taken by authorities, led by the Department of Agriculture. The DA reported more than 67,000 hogs have been culled in the country as part of the government’s attempt to stop the spread of the disease. billion. Top GSP exports are telescopic sights for rifles, spectacle lenses, radial tires made of rubber, nonalcoholic drinks not including those from fruits and veggies, and electrical machinery and equipment parts. The GSP allows the Philippines to export a total of 5,057 products, or nearly half of the 10,600 US tariff lines, to the US at zero or reduced tariffs.

Labor, human-rights issues

IN their letter to Lighthizer, the senators cited the alleged rising number of human and labor-related issues as basis to revoke Manila’s GSP privilege. “Since being elected in 2016, President Duterte has overseen a regime of systemic and significant human-rights violations in the Philippines,” the senators said. The US senators cited the ILO report published in June 2019, that “there remained numerous cases of trade union murders and other acts of violence for which the perpetrators have yet to be identified and punished.” That ILO report was a full transcript of the meeting of the ILO’s Committee on the Application of Standards at the 108th International Labor Conference last June 2019 in Geneva, Switzerland. In that meeting, labor groups from the Philippines claimed at least 43 trade union workers were“assassinated”during the Duterte administration.

Dominguez prods DBP: Fund big infra, ride wave of REIT By Bernadette D. Nicolas

@BNicolasBM

HE finance chief wants state-owned Development Bank of the Philippines (DBP) to focus on improving its wholesale banking services and help fund big-ticket infrastructure projects, especially in time with the full implementation of Real Estate Investment Trust (REIT) law. Finance Secretary Carlos G. Dominguez III also told DBP officials to take advantage of the REIT law by either providing bridge financing for REIT-funded projects or for DBP to venture into a REIT since its owns several real-estate assets, according to a statement from the Department of Finance on Thursday. Dominguez said he does not expect DBP “to be lending to anything that’s worth less than P100 million in capital” as an infrastructure bank providing bridge financing for large projects. “I want you to be big experts in dealing with big construction companies, in dealing with large road toll projects; that should be your expertise,” Dominguez told DBP President-CEO Emmanuel Herbosa and Edgar Richard Trono, the head of the Bank’s Strategic Planning Group, during a recent meeting. While the finance chief does not expect the REIT to fully take off this year since investors are still learning the ropes on how to formulate this new asset class, he projects a capital boom next year with the formation of several REITs, which promise to be a potential market for DBP. “With the REIT Law in place, we have expanded your market. More

Citira. . .

capital is coming in to people who know how to use it,” he added. During the meeting, Dominguez also acceded to Herbosa’s request for DBP to be exempted anew from remitting 50 percent of its net earnings as dividends to the national government. In 2019, President Duterte signed Executive Order 89 exempting the DBP from remitting 50 percent of its net earnings as dividends to the national government for 2017. The same EO also drastically reduced the dividend rate of stateowned Land Bank of the Philippines to zero percent in 2016 and 2017 from at least 50 percent. The EO said the move was done to “support the viability and mandate” of LandBank and DBP, their liquidity, capital position, mediumterm plans and programs…” Under Republic Act 7656 or the Government-Owned and -or Controlled Corporations Dividend Law, GOCCs are required to declare and remit at least 50 percent of their annual net earnings as cash, stock, or property dividends to the national government. For DBP to raise its income, Dominguez suggested that the state-owned bank purchase the properties required by the Department of Foreign Affairs for its embassies and other overseas offices in major countries and rent them out. Rather than putting up more physical branches, he also advised DBP to invest in financial technology, given that it is not engaged in retail banking but in wholesale banking, which caters to other institutional investors, financial institutions, government units and corporations.

Ordinario and Elijah Felice E. Rosales

SALCEDA went as far as saying that the passage of the Citira bill could save the Philippines from further factory closures resulting from multinationals rationalizing their global operations. “The Citira is the answer to that. It is the solution in the sense that it can set the expectations of the business sector,” he explained. “This Citira is competitive. We traveled around the region. This is the most competitive menu of incentives investors can get, as we turned the forever [incentives] into forever renewable,” Salceda added. The Duterte administration’s

second tax reform package seeks to lower corporate income tax to 30 percent by 2029, from 20 percent at present—the highest rate in the region. In exchange, it will rationalize fiscal incentives granted to firms operating in economic zones. It is facing the harshest of opposition from economic zone firms, mostly multinationals, who warned they will be forced to pack up operations here and move to another country if their tax perks, particularly the 5-percent tax on gross income paid in lieu of local and national taxes, are lifted. This looming capital flight entails a larger problem for the government, as it will result in the job loss of many workers. Last year the Joint Foreign Chambers of the Philippines estimated over 700,000 workers could lose employment as a result of firms leaving the country once the Citira bill is passed into law. That figure has been disputed as being too high by Finance officials, saying there does not seem to be solid basis for the estimates.

the remaining 21 months of the speaker’s three-year term of office. “But we will deal with it decisively. My advice to chairperson: If you want to work with me, don’t make it personal, even if you don’t like me, let’s do it. But if you want to sabotage me, then leave your position and return under the leadership of Congressman Velasco,” Cayetano added. For his part, Velasco said Cayetano’s information are “far from the truth.” “I am issuing this statement to, once and for all, end baseless reports attributed to unnamed

sources and sly innuendos being peddled by certain camps with vested interests within and outside the halls of Congress on the supposed ‘coup plan’to change the leadership of the House of Representatives,” he said. “The reports were meant to create deep division within the House of Representatives and its members, destroy camaraderie, distract lawmakers from fulfilling their mandate and, more importantly, derail the key legislative agenda of the Duterte administration,”he added. According to Velasco, he will continue to

honor the term-sharing agreement brokered by no less than President Duterte when the 18th Congress convened in July 2019. “From the beginning, I never had any intention of reneging on this agreement. Tayo po ay lalaking may isang salita,” he said. “To my colleagues in Congress, let’s continue to do our mandate to serve our constituency and provide services to people who elected us into office. Our people deserve to enjoy the fruits of progress under President Duterte,” Velasco added. Jovee Marie N. Dela Cruz

DOLE explains

HOWEVER, Labor Assistant Secretary Benjo M. Benavidez had expressed frustration on the sketchy details provided by local labor groups that caused the ILO’s standards panel last June to call for the Philippine inquiry in the first place. In July 2019, DOLE maintained there were only five labor-related killings during the current administration, and these are being investigated by the PNP. Benavidez explained that for a killing to be tagged as labor-related, the victim must have died after exercising his or her freedom of association.With Cai U.

exporters of a closure of the China market is remote as the option to replace Philippine bananas is costly and unstable,” PBGEA quoted the Chinese importer as saying. Earlier this month, the BusinessMirror reported that banana exporters could lose at least $5.5 million a week after Chinese buyers stopped ordering Philippine bananas following the market disruptions caused by COVID-19. PBGEA said the reduction in the purchases of Chinese buyers may force local growers to

Continued from A1

investment community, which is already facing several uncertainties brought about by the trade conflict between the United States and China, and the spread of the novel coronavirus.

Factory closures

cut output. However, he said production in the first quarter may rise due to good weather and this could lead to a banana glut. This, he said, would add to the woes of banana growers and exporters as they would have to look for other buyers of excess bananas. Smallholders and medium-size growers are the ones who will immediately feel the impact of China’s economic slowdown as they supply most of the bananas shipped to the East Asian nation. China has been the country’s top Cavendish

market the past two years after it ended Japan’s 30-year reign as top buyer in 2018. Philippine banana exports in 2019 reached an all-time high of 4.38 million metric tons worth nearly $2 billion, preliminary Philippine Statistics Authority (PSA) data obtained by the BusinessMirror showed. The country’s banana exports to China last year rose by 37 percent to 1.67 million metric tons, from 1.165 million metric tons in 2018, PSA data showed. Jasper Emmanuel Y. Arcalas

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Friday, February 28, 2020 A3

Anti-terror bill gets Senate OK amid apprehensions

By Butch Fernandez

@butchfBM

AJORITY senators passed the anti-terror bill on third and final reading Wednesday amid apprehensions aired by minority Sens. Francis Pangilinan and Risa Hontiveros who voted against the measure, airing public apprehensions over potential humanrights violations. Fielding questions at the Senate Kapihan forum on Thursday, Sen. Panfilo Lacson said he was “satisfied with the approved version that was enhanced ” during the plenary interpellations and amendments, which, he said, took them two to three weeks of continuous inter pellations pati amendments. “We started the period of interpellations last December 19. Nagkaroon ng December break, but when we came back, dirediretso ’yan, walang patid, walang gap, walang lull diretso sa period of amendments until its approval on second and third reading,” Lacson recalled. Asked to comment on the negative votes cast by opposition Senators Pangilinan and Honti-

veros due to concerns on humanrights violations, Lacson took it as part of “the essence of democracy in a deliberative body. “At the end of the day, after the discussions and debates, magkakaroon ng botohan. And of course we respect, I know for sure where they are coming from, especially Senator Risa, and she approached me yesterday to air her sentiments na hindi naman talaga siya totally against the passage of the measure, but ang mga concerns niya regarding some provisions na pinag-usapan nang masinsinan.” Lacson conceded they cannot satisfy everybody. “Hindi mo naman talaga masa-satisfy lahat. Especially a measure like this na contentious talagang may hindi sasang-ayon. So we understand their position.”

Reacting to Pangilinan’s point that the bill allows surveillance, and compel telcos to divulge calls/ messages and arrest people without warrants, and detain up to 14 days, Lacson replied: “Yes pero lahat naman may legal procedures na susundin. Hindi naman pwedeng basta mag-conduct ng electronic surveillance, or whatever kind of surveillance kung ’di ka kukuha ng permiso sa korte.” In fact, Lacson noted that at the intervention of Minority Leader Franklin M. Drilon, it is not only the Regional Trial Court (RTC), “we also elevated it to the Court of Appeals in getting ‘judicial authorization to conduct surveillance.’” “Pati ang proscription under the current law, Republic Act 9732, ang Human Security Act, RTC lamang ang magpo-proscribe. Pero in this proposed measure, inelevate din ’yan sa Court of Appeals, the reason being baka kasi sa dami ng RTCs—and I agreed with Senator Drilon—na baka ma-abuso naman ang pag-i-issue ng order of proscription,” added Lacson. He said: “Remember, may feature dito na hindi lang proscription per se but nagkaroon ng preliminary order of proscription, parang TRO [temporar y restraining order] ito, within a certain period of time, pwedeng ang mga member na nakalista after due process is observed, pwedeng arestuhin at ikulong temporarily within a reglementary period of 14 calendar days. Pero

limited ang period na sa 20 days na kailangan either i-lift ang preliminary order of proscription or gawing permanent.” Lacson assured they made sure that all the safeguards were included in the remedial legislation. The senator noted that the bill, likewise, provides that the Commission on Human Rights be informed. “Inform ang CHR. At ang visitation rights naroon. Walang limit ang pagdalaw ng abogado at babasahan din siya ng kanyang rights under the Constitution, to remain silent, and so forth. So naroon lahat na safeguards.” “Why did we decide to increase the reglementary period from the regular 36 hours to 14 working days? It is because hindi ordinary crime against persons or property but crime ito against humanity. At ang impact nito sa destruction ng lives and property masyadong massive and masyadong indiscriminate,” Lacson explained, adding: “And we’re just trying to be at par with other countries especially neighboring countries natin. Singapore ang reglementary period 732 days. Tapos pwede pa mag-extend indefinitely. Ang ibang countries like Malaysia, tayo ang isa sa pinakamababa, 14 days reglementary period para magdetain without warrant.” Moreover, Lacson confirmed that the bill removed the P500,000 compensation for those wrongfully detained. “Tama ’yan. ’Yan ang dahilan ang pulis, NBI [National Bureau

of Investigation] and even the AFP [Armed Forces of the Philippines] are hesitant to file charges using the Human Security Act [HSA] kasi takot sila pagka na-dismiss ang kaso pamultahin sila ng P500,000 per day of detention.” He recalled that even in the Marawi siege, ‘ hindi sila nag-file ng cases in violation of the HSA. Ang ginawa na lang nila, mga murder and multiple murder cases ang file nila. Kasi natatakot sila pag na-dismiss ang kaso multahin sila ng P500,000 a day. Kaya naging virtual dead letter law ang R A 9732, hindi mai-apply. And since 2007 when the HSA was enacted into law, isa lang ang naging conviction. At saka ang proscription ng ASG, it took the court 11 years bago nakapag-proscribe ng ASG. Alam natin how dreaded the ASG is. So ’yan ang mga weakness ng batas that brought us to the conclusion na dead letter law, parang hindi ma-implement ang batas so sayang. And naiwanan tayo ng ibang countries, European, Western countries at saka ating neighboring countries dito. Ang iniiwasan natin is to make the Philippines a safe haven for terrorists kasi napakagaan ng ating batas, napakahina.” Clarifying provisions to prevent abuse, Lacson confirmed that these were even “enhanced.” “Meron ding provisions doon pero in-enhance pa namin dito. Dinagdagan namin ang penalty for law enforcers na mag-aabuso.

Increase ito hanggang 10 years. Hindi ganoon kadali magkaroon ng abuso. Of course, other pertinent laws like Anti-Torture Act, mag-aapply ’yan pero simple violations, if passed into law ang Anti-Terrorism Act of 2020, in-enhance pa namin. Mas nadagdagan pa. Basta enhance namin ang penalties to be imposed on law-enforcement officers na nag-a-abuse.” Lacson added: “I think that should be enough. Other pertinent laws kung pinatay mo ang suspect, murder ang kaso. Kung torture mo, magba-violate ka ng anti-torture law. So naroon pa rin ’yan pero ang ibang violations like not complying with the provision of informing the nearest judge or informing CHR, tinaasan namin ang parusa. Pati ang infidelity in the custody of detention prisoners.” On safeguards for organizations wrongfully accused of being terror group like National Union of Journalists of the Philippines, the senator asssured this was also addressed. “May due process ’yan, ’di ganyan kadali na nag-petition ang gobyerno o Department of Justice para ma-proscribe ang isang organization as a terrorist organization hindi ganoon kadali. It will undergo due process. Lahat na safeguards nariyan. At saka even if a terrorist organization is proscribed hindi rin madali na member ka ng NUJP automatically arestuhin ka. No. May due process sa individual members. At I don’t think NUJP will be tagged as a terrorist organization.”

SC reminds police to respect rights in fight against insurgency By Joel R. San Juan @jrsanjuan1573

HE Supreme Court has reminded the Philippine National Police (PNP) to respect the rights under the Constitution of individuals it is pursuing for alleged illegal activities even those being suspected as communist rebels and their loved ones. “While pursuing rebels is a legitimate law-enforcement objective, the zeal of our police must be bound by the fundamental rights of persons, especially the loved ones of persons in interest. After all, the values we have in our Constitution are what differentiate us from lawless elements,” the SC said in a decision penned by Associate Justice Marvic Leonen and released on February 24, 2020. In the said decision, the Court granted the petition filed by Vivian A. Sanchez, estranged wife of slain alleged member of the New People’s Army (NPA) Eldie Labanghisa, for the issuance of a writ of amparo. Sanchez alleged that she and her daughters were subject to surveillance by the police after his estranged husband Labanghisa died. The writ of amparo is a remedy

available to any person whose right to life, liberty and security has been violated or under threat while the writ of habeas data is a remedy available to any person whose right to privacy in life, liberty or security has been violated or under threat by the unlawful gathering of information about the person, his or her family and home. “The totality of obtaining circumstances likewise shows that Vivian and her children were the subject of surveillance because of their relationship with a suspected member of the New People’s Army, creating a real threat to their life, liberty or security,” the Court held in granting the petition. Sanchez elevated the case before the SC after failing to get a favorable ruling from the Regional Trial Court of San Jose Antique. She filed the petition before the lower court on August 24, 2018, against Police Supt. Anthony D. Darroca, Police Supt. Leo Irwin D. Agpangan, Police Chief Supt. John C. Bulalacao, and the police officers under their authority due to the surveillance of the family. The trial court issued the writ and temporary protection order on August 25 on the same year but eventu-

ally dismissed the petition following a summary proceedings. It ruled that Sanchez failed to substantiate her claim that she became a person of interest after she identified her husband’s body. The lower court said she failed to allege the acts of the police officers which threatened her security and liberty. In seeking the reversal of the trial court’s ruling, Sanchez claimed before the SC that when she went to the funeral home to verify her husband’s death, police took her photos without her permission. When she returned the following day, three police officers confronted her and threatened to charge her with obstruction of justice if she refused to answer their questions. For their defense, the respondents claimed that the petitioner was just being “overly suspicious.” “Whether [Vivian]’s photo was actually posted and distributed at the police station or was just taken for future reference, the taking of the photo bolsters [Vivian]’s claims that she was being monitored by the police,” the SC held. The SC added that Sanchez’s apprehension at being suspected as member of the NPA as understandable which made her “act suspiciously.”

BI undergoes major revamp but would this move satisfy senators? By Recto Mercene @rectomercene

HE head of the Bureau of Immigration (BI) ordered a massive overhaul of the entire airport compliment “effective immediately” in light of a Senate revelation of corruption among the rank-and-file personnel. So far, BI Commissioner Jaime Morente has fired 18 personnel who were accused of receiving huge bribes to facilitate the entry of mainland Chinese nationals who claimed to be workers for the Philippine Offshore Gaming Operator (POGO). In a news statement, the BI said: “As part of the Bureau of Immigration’s continuing reform and transformation efforts, a total revamp in

Naia [Ninoy Aquino International Airport] Terminals 1 to 3 has been implemented effective immediately.” “The revamp covers all personnel assigned to Naia terminals from Port Operations Division [POD] deputies, terminal heads down to counter personnel.” However, the Chief of Port Operation Division Grifton Medina, has been temporarily spared, although the BI said his fate would be decided by DOJ [Department of Justice],” according to a statement released by BI spokesman Dana Sandoval. “This practice of rotating and changing assignments on a regular and programmed basis is both a means to enable better performance and encourage skill upgrades, as well as a necessary precaution against possible avenues

for graft and corruption.” Sandoval said those who have been part of the revamp “are in compliance with the directive of President Rodrigo Roa Duterte to revamp the Bureau as necessary.” She said these changes in management responsibilities and section assignments in our airports “are part of the ongoing actions that are being taken to address the recent resurgence of unauthorized activities and irregularities, as major steps have already been made to address these issues since 2016.” The BI said these irregularities and their consequences impact on morale and detract from the professionalism and service that the men and women of the Bureau of Immigration are pledged to provide.

A4 Friday, February 28, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

‘Poorest’ households spend more on alcoholic drinks, tobacco–PSA

By Cai U. Ordinario

@caiordinario

IGHER food costs pushed up inflation experienced by the poorest Filipinos in January, data released by the Philippine Statistics Authority (PSA) showed on Thursday. PSA data showed inflation for the bottom 30 percent of the population averaged 2.3 percent. This is slower than the 5.2 percent posted in January 2019. However, this is the third con-

secutive month when inflation for the poorest posted an increase. Inflation started increasing in November at 0.7 percent, followed by December at 1.9 percent before reaching the January rate.

“The uptrend was mainly brought about by the higher annual increment observed in the index of the heavily weighted food and nonalcoholic beverages at 0.7 percent during the month,” PSA said. PSA said food prices which accounts for 58.28 percent of the Consumer Price Index (CPI) of the poorest 30 percent of the population. Based on PSA data, food and nonalcoholic beverages inflation has been increasing since November with a contraction of 1.6 percent to a growth of 0.2 percent in December. Inflation for food and alcoholic beverages posted its lowest inflation last year in October when it contracted 2.7 percent.

DPWH allots ₧1-B budget for 75 infra projects in Biliran province

TOTAL of 75 infrastructure projects—with a cumulative price tag of about P1 billion— will be implemented in various areas of Biliran within this year, a budget that the Department of Public Works and Highways (DPWH) hopes would help drive the economy of the island province in Eastern Visayas. Public Works District Engineer David Adongay Jr. said bulk of the budget, or about P400.8 million, will be used to develop school buildings, multipurpose facilities and for the construction, and rehabilitation, of flood-control struc-

tures, seawalls, local roads and bridges. Roughly P265.5 million was allotted for the Asset Preservation Program, which involves the construction of slope protection structures, asphalt overlay, and reconstruction or upgrading of damaged paved roads. Meanwhile, P160 million was allocated for the agency’s flood management program, which entails the construction of eight flood-control structures in various areas in Biliran. Likewise, P85 million will be spent to build two tourism access roads, while P80 million will be used to widen the

Biliran Circumferential Road. A trade access road worth P50 million will also be built, as well as P25 million for the provincial police office building. “We are positive that 2020 is a year of growth for Biliran with all these projects awaitingimplementation,”Adongaysaid. Biliran, a former sub-province of Leyte, is one of the smallest provinces in the Philippines. It has eight municipalities and 132 barangays. Biliran is known as a tourism destination that boasts of white- sand beaches, majestic waterfalls and dive sites filled with a plethora of coral gardens. Lorenz S. Marasigan

Other commodities that saw increases in January were alcoholic beverages and tobacco which posted a growth of 22.4 percent; and housing, water, electricity, gas and other fuels with a growth of 2.7 percent. The prices of alcoholic beverages and tobacco started posting a growth of above 20 percent starting in November when it posted a growth of 21.5 percent. For housing, water, electricity, gas and other fuels, PSA data showed this was the highest since August when it posted a growth of 3.3 percent. This commodity group also started posting higher consecutive growth

in November when it reached a growth of 2.1 percent. It can be noted that the poorest households spend more on alcoholic beverages and tobacco compared to all households in the Philippines. In terms of weight in the CPI, alcoholic beverages account for 2.45 percent for the bottom 30 percent; while for national households, this is only equivalent to 1.58 percent. As for housing, water, electricity, gas and other fuels, the weight for this commodity in the CPI of the bottom 30 percent is 15.43 percent, lower than the share of all households pegged at 22.04 percent.

With 500% jump on tax take in ‘19 , Marawi heads for recovery–mayor By Rene Acosta @reneacostaBM

ORMALCY and vibrant economic activities have slowly but surely returned in Marawi City, which was devastated during the five-month battle against the Islamic State in 2017, the city’s chief executive said on Thursday. Ma raw i C it y Mayor Maju l Gandamra said the city government has recorded an impressive 500 -percent jump in revenue collection last year compared to 2015 collection, which, he said, was a clear manifestation that business is steadily and progressively improving in the country’s Islamic capital. “A clear manifestation of stronger economy is the increase in our revenue collections for, I would say, 500 percent,” he said, adding “normalcy is back” and “business establishments have reopened.” Gandamra said that from P6,596,901 total tax collections in 2016, or before the May 23, 2017 siege, the local government of Marawi City recorded P12,474,494.72 revenue collections for 2019. In 2015, the city government only collected a total of P2,082,709.39. “To date, our collection keeps going up,” Gandamra said. The mayor lamented that stories out of the city are only focused on the “ground zero” when there are much improved economic activities outside or in the less affected area

due to the continuing rehabilitation works by Task Force Bangon Marawi (TFBM). The ground zero was where the 24 villages of Marawi City are located, which became the center of the battle between the government and the Islamic State during the siege in 2017. Gandamra said that out of the 96 barangays in Marawi City, 72 have been reoccupied by residents and business establishments “have actually flourished and continued to sprout.” The city chief executive expressed satisfaction over the efforts of TFBM headed by Human Settlements Secretary Eduardo del Rosario and the 56 government agencies directly providing support to rehabilitate Marawi City. He noted that the TFBM, including the city government is currently focusing on rehabilitating the ground zero that will facilitate the return of residents with the construction of horizontal and public vertical infrastructures seen to start within the first semester of 2020. The project will be completed by December 2021. Gandamra, through Sen. Christopher Lawrence “Bong” Go, has sought audience with President Duterte to further expedite the rehabilitation within the ground zero. “No one will be left behind. While there are only 24 barangays in ground zero, it’s the central business district of Marawi City,” Gandamra said.

Pernia: ‘Sin’ tax gain to boost SDG attainment

“This law will allow for a better and more sustainable future, enabling Filipinos to live long and healthy lives with an efficient healthcare system, as well as a safe and clean environment.” —Pernia

IGHER “sin” taxes for alcohol and electronic cigarettes will also boost efforts to attain the Sustainable Development Goals (SDGs), according to the National Economic and Development Authority (Neda). In a news statement, Socioeconomic Planning Secretary Ernesto M. Pernia said this was specified in the enactment of Republic Act 11467, which will increase excise taxes on alcohol products, electronic cigarettes (e-cigarettes) and heated tobacco products (HTPs). Pernia said the largest chunk, or 60 percent, of the sin tax proceeds will be used for the Universal Health Care (UHC) Act of 2019. Another 20 percent will be used for the SDGs, and 20 percent for the nationwide medical assistance and the Health Facilities Enhancement Program. “This law will allow for a better and more sustainable future, enabling Filipinos to live long and healthy lives with an efficient healthcare system, as well as a safe and clean environment,” Pernia said. Pernia said RA 11467 will benefit all 17 SDGs through the funding of programs and projects that support the 2030 Agenda for Sustainable Development. However, it w il l pr imar ily benefit Goal 3: Good Health and Well-Being, through the additional funding for the UHC, particularly in addressing Target 3.5 of strengthening the prevention and treatment of substance abuse, including narcotic drug abuse and harmful use of alcohol. “This will help Filipinos achieve the quality of life that they deserve by discouraging, and reducing, the consumption of alcohol and tobacco, lowering their risk for noncommunicable and deadly diseases,” Pernia said. RA 11467, which was enacted into law on January 22, amends and adds to the National Internal Revenue Code of 1997. Under this new measure, the regulatory function of the Food and Drugs Administration over ecigarettes and HTPs is reinforced. Cai U. Ordinario

New TPB COO urges hotels to cut room rates

HE Tourism Promotions Board (TPB) has suspended the collection of participation fees among its members-stakeholders attending travel fairs abroad, in a bid to boost the marketing efforts for the country, especially during the corona virus disease 2019 (COVID-19) outbreak. Newly appointed TPB Chief Operating Officer Maria Anthonette C. Velasco-Allones made this disclosure at the general membership meeting of the Hotel Sales and Marketing Association Inc. (HSMA) on Thursday at the Bayleaf Hotel, Intramuros. The collection of the fees—an average $1,000 per member per event—“are suspended until June,” she said. The TPB is the marketing arm of the Department of Tourism (DOT). This year, the TPB has lined up its participation in several trade and consumer fairs: the International Tourismus Bourse (ITB) Berlin (March 4 to 8), the Marine Diving Fair in Japan (April 3 to 5), Asia Dive Expo 2020 in Singapore (May 29 to 31), Arabian Travel Market in Dubai (April 19 and 20), Imex Frankfurt (May 12 to 14), ITB Asia in Singapore October 21 to 23), Tourism Expo Japan (October 29 to November 1), World Travel Market in London (November 2 to 4), and the DEMA Show (November 4 to 7).

It is also joining several Philippine Business Missions to Japan, the United States and Canada, and South Korea. While there are also business missions and trade fairs in China, the TPB has yet to firm up plans to attend these because of COVID-19. The COVID-19 outbreak has prompted Manila to impose a travel ban on mainland China, Hong Kong and Macau. The Bureau of Immigration on Thursday said the ban on travelers from Daegu and North Gyeongsang province in South Korea has been put on hold pending the issuance of clear guidelines. In her presentation of TPB’s programs and activities this year, Allones asked HSMA members to persuade their respective hotels’ management to cut room rates to boost government’s domestic marketing campaign, a program to mitigate the impact of COVID-19 on the tourism industry. “How can we promote domestic tourism when our studies show we are not competitive in terms of rates? People will still prefer to go to Bali or Thailand, or Vietnam than go to Davao and Boracay, Iloilo, Bacolod, Coron or Bohol. We are quite pricey in that range,” she stressed. “That’s a complete action point for HSMA; perhaps you can con-

vince the gatekeepers and decisionmakers in terms of having a latitude to have competitive pricing for our local tourists, in the meantime that we are dealing with COVID-19,” she added. An official list shows only 37 participating hotels and resorts so far in the domesticmarketingcampaign,launchedon February 11 by the DOT and the Tourism Congress of the Philippines. Most of the participants offering “value packages” are in Metro Manila and Boracay, with a handful from Palawan, Cebu; and only one hotel each in Bohol, Iloilo, Bacolod; and two hotels in Davao. Room rates are up to 50-percent off published rates. Allones also announced the TPB Board of Directors’ approval of an P87-million contingency fund to help stakeholders bounce back from crises, like the recent Taal eruption. The TPB official also disclosed that she challenged her management team to increase the membership of the government firm. At present, the TPB has 120 members among an estimated 6,000 tourism stakeholders. “’We have to revisit the target this year,’” she told her team. “I want to get 10 percent of the 6,000. It can be done,” said Allones, and appealing to HSMA members to participate in the program. Ma. Stella F. Arnaldo

The World BusinessMirror

Editor: Angel R. Calso

Coronavirus reaches Latin America, first case in Brazil

IO DE JANEIRO—Latin America saw its first confirmed case of the new coronavirus spreading worldwide when Brazil’s government announced that a 61-year-old man who traveled to Italy this month had the virus. The Brazilian man had spent two weeks in northern Italy’s Lombardy region on a work trip, where he contracted the contagious virus, the Health Ministry said on Wednesday. “Our health-care system has already undergone grave respiratory epidemics before,” Brazil’s Health Minister Luiz Henrique Mandetta said in a press conference. “We will get through this situation, investing in science, research and clear information.” Since the COVID-19 virus began to spread throughout the world from China, Brazil, and other countries in the region have registered dozens of suspected cases, all of which previously had been discarded following tests. According to Brazil’s Health Ministry, the man began to show symptoms compatible with the illness, such as a dry cough, throat pain and flu symptoms. Lombardy is the epicenter of the outbreak in Italy, and there have been hundreds of confirmed cases there, as well as several deaths. Sao Paulo’s Albert Einstein Institute, where the man received medical attention, carried out respiratory tests, and the Adolfo Lutz Institute in the same city carried out the subsequent test confirming the virus. The man was in stable condition and in isolation at home in Sao Paulo. Brazil’s national health agency, Anvisa, has been working to map all contact the man had with others, and on Tuesday requested the manifest of the flight he took to investigate other possible cases. The Health Ministry said that the man received some 30 family members at his home after returning to Sao Paulo on February 21. Those people are under observation, as are with passengers from the plane. “We will now see how this virus behaves in a tropical country in the middle of summer, how its behavior pattern will be,” Mandetta said. Residents of the biggest city in Latin America were beginning to acknowledge the risks of an epidemic. Thiago Alves, the

manager of drugstore in central Sao Paulo, said he had sold more than 3,000 masks on Wednesday. “We are already short and it isn’t even the beginning of the afternoon,” he said. Sao Paulo’s stock exchange, which had been closed since Friday due to the Carnival holiday, was down 5 percent shortly after 2 p.m., which economist André Perfeito attributed to “the global outbreak of coronavirus, not necessarily its arrival here.” Global stock markets had dipped sharply while the Brazilian exchange was closed. Four years ago, Latin America’s largest country found itself under the microscope as the spreading Zika virus was linked to cases of microcephaly in babies just ahead of the summer Olympics in Rio de Janeiro. Brazil’s response was deemed adequate by international organizations and its public health-care system handled most cases, though medicine was in short supply in many isolated areas of the Northeast region. Some foreign sports fans and competitors still canceled their plans to attend South America’s first Olympics. As of Wednesday, there were 20 suspected cases of the new coronavirus in Brazil, 12 of which in people who returned from Italy. Authorities have so far ruled out 59 cases that were suspected since the outbreak began. Due to the spread of the new virus worldwide, Brazil on Monday broadened its criteria for analysis of suspected cases. The Health Ministry determined that people with fever and flu symptoms returning from Italy, and six other countries should be considered suspected cases. Those countries are Germany, France, Australia, Malaysia, the United Arab Emirates and the Philippines. The news of the virus reaching Brazilian soil comes as the nation emerges from its annual Carnival revelry. Amanda Pereira, who joined a street party on Wednesday with her young daughter, said, “I worry a lot because my daughters have breathing problems, so we will stay alert.” Asked whether Brazilians should cancel plans to visit Europe, Mandetta said this is “just another reason for domestic tourism” and said that people should use “good sense” AP

Facebook bans ads with false claims about new virus

AN FRANCISCO — Facebook said on Wednesday that it is banning ads that make false claims about products tied to the new coronavirus. The social network said it is removing ads that feature a product and imply a limited supply, seeking to create a “sense of urgency” in their mention of coronavirus. Ads that guarantee a cure or prevention are also banned, it said. For instance, ads for facemasks that claim the products are 100 percent guaranteed to prevent the spread of the virus are not allowed, the company said.

The ban went into effect this week. Facebook had previously banned ads, along with regular unpaid posts, that peddle fake cures, such as drinking bleach, spread conspiracy theories about the virus, or discourage people from seeking medical treatment. The ban went into effect as the World Health Organization reported that the number of new cases outside China exceeded the number of new infections inside the country for the first time on Tuesday. The COVID-19 virus has now spread to at least 39 countries. AP

Shanmugam, who also is minister for home affairs, said the man “willfully disregarded” the notice, did not respond to phone calls, and was not home when officials conducted checks. The man later insisted on leaving Singapore before he had completed the stay-home period, according to Shanmugam’s post.

Work permits revoked

THE city-state this week also charged a married couple from China under the Infectious Diseases Act for providing false information and obstructing coronavirus contact tracing. Anyone convicted for a first offense under the act can be fined as much as S$10,000 ($7,156) and/or jailed for as long as six months. The couple’s case will be heard in court on Friday.

New US coronavirus case may be first from unknown origin

OS ANGELES—A new coronavirus case in California could be the first in the US that has no known connection to travel abroad or another known case, a possible sign the virus is spreading in a US community, health officials said. The Centers for Disease Control and Prevention (CDC) reported the case on Wednesday. California officials said the person is a resident of Solano County, northeast of San Francisco, and is getting medical care in Sacramento County. They said they have begun the process of tracking down people who the patient has been in contact with, a process known as contact tracing. The patient was brought to UC Davis Medical Center from another Northern California hospital on February 19 but it was four days before the CDC heeded a request to test the patient for COVID-19, according to an e-mail sent to employees on Wednesday by the hospital’s interim CEO, Brad Simmons, and David Lubarsky, CEO of UC Davis Health. The patient arrived on a ventilator and special protection orders were issued “because of an undiagnosed and suspected viral condition,” according to the e-mail, which was sent to employees. The hospital asked the CDC to test for the coronavirus but testing was delayed until Sunday “since the patient did not fit the existing CDC criteria for COVID-19,” the e-mail said. The hospital, which has treated other coronavirus patients, has been taking infection prevention precautions since the patient arrived. The e-mail said officials believe there was only a small chance that others at the facility were exposed to the virus. “Nevertheless, a small number of medical center employees have been asked to stay home and monitor their temperatures,” the e-mail said. Messages to the CDC seeking comment on the e-mail were not immediately returned on Wednesday night. All of the 59 other cases in the US had traveled from

Anyone breaking Singapore’s virus rules won’t get second chance INGAPORE’S warnings that it will take strong action against people who break special rules to counter the spread of coronavirus aren’t just empty threats. “The deliberate breaking of the rules, in the current situation, calls for swift and decisive response,” Law Minister K. Shanmugam said in a Facebook post on Thursday. “During this period we need everyone to cooperate.” Singapore this week rejected a man’s application to renew his permanent-residency status after he ignored a precautionary stay-home notice after recent travel to China. Singapore residents or long-term pass holders returning from China must stay in their homes for 14 days and closely monitor their health, according to guidelines imposed this month.

Friday, February 28, 2020

Singapore authorities have also revoked the work permits of some foreigners caught at their places of employment during a mandatory leave-ofabsence period, and repatriated them. These workers have also been banned from working in Singapore permanently, the manpower ministry said this month. The government also suspended several employers’ foreign-hiring privileges for two years for not ensuring their affected staffs stay away from the workplace. Singapore has more than 90 confirmed cases of coronavirus. Recoveries from the virus—currently at more than 60—are outpacing new cases. Bloomberg News

abroad, or had been in close contact with those who traveled. Health officials have been on high alert for socalled community spread. Earlier US cases included 14 people who traveled back from outbreak areas in China, or their spouses; three people who were evacuated from the central China city of Wuhan; and 42 American passengers on the Diamond Princess

cruise ship that were evacuated by the federal government to the US from where the ship was docked in Japan. Some of those evacuated were taken to Travis Air Force Base, which is in Solano County. A number of the earlier cases have been in California, including among some of the people taken to Travis and one in which a traveler who returned to San Benito County spread it to a spouse. California officials have been preparing for the possibility that community spread of the virus might first surface there. “We have been anticipating the potential for such a case in the US, and given our close familial, social and business relationships with China, it is not unexpected that the first case in the US would be in California,” said Dr. Sonia Angell, director of the California Department of Public

PRESIDENT Donald J. Trump with Vice President Mike Pence (left) and members of the president’s coronavirus task force speaks during a news conference at the Brady press briefing room of the White House on Wednesday, February 26, 2020, in Washington. AP PHOTO/MANUEL BALCE CENETA

Health and state public health officer, in a statement. The outbreak, which began in China, has infected tends of thousands of people in more than three dozen countries, with the vast majority in mainland China. The new virus is a member of the coronavirus family that can cause colds or more serious illnesses, such as SARS and MERS. The virus can cause fever, coughing, wheezing and pneumonia. Health officials think it spreads mainly from droplets when an infected person coughs or sneezes, similar to how the flu spreads. Officials are advising people to take steps to avoid infection with coronavirus, or other respiratory infections, like a cold or the flu, including washing hands with soap and water, and avoiding close contact with people who are sick. AP

Property

Business

A6 Friday, February 28, 2020 | www.businessmirror.com.ph

It’s full speed ahead for t T

By Leony R. Garcia

HE Philippine real estate has been one of the promising investment options in the Southeast Asian region for years now. Backed by its strong macroeconomic fundamentals – sustained growth in production and consumption, highly conducive investment climate, robust tourism performance and booming public and private construction growth, among others, investment entry has remained a highlight of the local economy. To top this, local governments’ initiative of hastening the priority infrastructure projects further improves the general investment confidence of both local and foreign investors. Nowadays, it’s a usual sight in most highly urbanized and commercialized centers of business in the Philippines, other than the Mega Manila, that cranes are seen towering amid urban sprawls. This is but one of the most apparent indicators of the booming real estate industry

in the Philippines. Among others, the office sector has had the most noise during 2019 especially with the surge of take-up from offshore gaming operators in the Philippines. In Metro Manila alone, around 900,000 to 1,000,000 sqm of office spaces are expected to inflate the supply by 2020. Demand drivers would come from the industries of outsourcing companies, online gaming operators, traditional offices and flexible workspace operators.

Online gaming to maintain momentum despite government restrictions

THE growth of offshore gaming and outsourcing businesses in the Philippines is still expected to sustain the market for 2020 – driving the occupancy and rental costs in major business districts in the Philippines. In metropolitan regions in the Philippines, namely Metro Manila, Metro Cebu and Metro Davao, the average occupancy rate in Grade B and A office buildings closed at around 93.43% last 2019. Bay Area in Pasay City recorded the highest saturation of office space take-up considering the huge demand coming from the offshore companies operating in the Philippines. As early as 2017, JLL Philippines – one of the country’s premier real-estate services firm – has been reporting the POGO to be growing, even at a faster pace, than the ITBPM sector. The growth rate was at an annual average growth rate of 61 percent from 2017 to 2019, while IT-BPM grew at a slower 36 percent for the Metro Manila realestate market. However, JLL said, IT-BPM demand is still stable and will remain the leading real-estate demand driver in Metro Manila, mainly due to developments in the POGO industry, including govern-

ment restriction of new applications, crackdown on illegal Chinese online gaming activities, and rise in tax collections. The supply constraints and policies shift POGO office space demand to periphery areas of the Metro and other key cities in the country. Thus, giant POGO hubs are already in place in Cavite City and Angeles City, Pampanga, to accommodate the industry movement. With the office space demand shifting outside of Metro Manila come other real-estate opportunities, including residential, hospitality and retail. POGO employees take up hotels as an alternative to housing, driving up hotel occupancy. Similarly, housing requirements drive up sales take up, selling prices, and rents of mid-segment developments. So it’s full speed ahead for the Philippine real estate. This is according to PRIME Philippines, a city enabler property advisory firm headquartered in Quezon City. The company offers specialized services in Property Acquisition & Disposal, Commercial and Industrial Sale/ Leasing, Project Management, Research & Advisory, and Documentation Services. At its recent forum on February 5, the Philippine Real Estate Market Overview, Trends, and Forecasts 2020: A Cof-

feeBreak series, PRIME discussed positive developments in the real estate industry despite the recent crisis brought by the Mt. Taal Volcano eruption and the COVID-19 global scare. Cholo Florencio, AVP of Property Advisory, PRIME Philippines, said that not too many major businesses and properties were damaged in Calabarzon due to the volcano eruption. And with the easing out of fears of the nCov virus, PRIME expects more movement in the real estate industry. PRIME itself is opening its satellite office in Shanghai this summer and the firm expects the share of Chinese clients to jump to 40% in the near term, Florencio told BusinessMirror. “We will be the first local, Pinoy real estate consultancy firm to expand globally,” he said.

Residential condo and office spaces are on the rise in Quezon City

AT the homefront, Quezon City is the largest office space demand takers in the Philippines with the ongoing construction of key infrastructure projects such as Skyway, MRT7 and Mega Manila Subway. Huge demand from traditional and outsourcing companies have supported both the residential and office space market of the city. De-

mand coming from multinational companies also pose a positive stance for office developers considering that most of their employees working in their headquarters located within the main CBDs are coming from the north, particularly Quezon City and Bulacan. Considering the apparent mindset of the millennial market of prioritizing the proximity of workplace to home, Quezon City stands the strongest option evidenced by the influx of flexible workspaces in the city. This is on top of the highly competitive rate for quality office spaces in the city which recently, an online gaming operations firm has taken advantage of, taking around 15,000 square meters of gross leasable space at pre-leasing stage. Similarly, market for residential condominium units in Quezon City remains bullish considering its position as the most cost-effective source of recurring income for most investors in Metro Manila, alongside Alabang CBD. Its average annual yield is estimated at around 4.11% which is significantly higher than that in Bonifacio Global City of only around 3.16% as per records during 1H 2019. For 2019, around 10,000 additional units were reportedly completed in Quezon City, comprising almost 25% of the total

Real estate investment activity in Asia Pacific to outperform other regions in 2020, says JLL

Real estate consultancy anticipates elevated investment activity; sustainability to be the next focus

NVESTMENT in Asia Pacific real estate has reached US$125 billion in the first three quarters of 2019, up 10 per cent year-on-year, and is set for another strong year in 2020, says JLL. According to the real estate consultancy, foreign investments into Asia Pacific are at a decade-high, making up 35 per cent of total volumes, mostly driven by private equity funds and large-scale transactions. “Real estate in Asia Pacific has gained favour in the last year as investors continue to seek high yields and stability amid a climate of geopolitical uncertainty and slowing economic growth. As an increasing amount of capital is being allocated to real estate, we’re seeing more clients making larger-scale investments to expand their portfolios,” explains Stuart Crow, CEO Capital Markets Asia Pacific, JLL. “Over the next two years, we expect global real estate transaction volumes to stay elevated and Asia Pacific to outperform Europe and the Americas with an outsized portion of global investor interest.” JLL reveals five key trends that investors should look out for in 2020.

nLogistics assets are a hot ticket

Investor appetite for logistics continues to pick up, meaning these types of facilities are held tightly. The result is that investors must become more creative in order to access quality assets. “We’re seeing more investors form joint ventures with major established players. Some are taking partial stakes or even going into public markets. A recent example is Canadian pension fund OMERS’s cornerstone investment in ESR logistics platform when the latter filed to be listed on Hong Kong’s stock exchange,” says Crow. In the Philippines, JLL Philippines Director for Industrial and Logistics Tom Over, noted the country’s strong economic growth and opportune demographics are growing the domestic consumer market and will drive e-commerce, logistics and manufacturing – all of which provide a new area for investment into the supply chain. Over heads JLL’s dedicated Industrial and logistics team in the country which is leveraging PropTech to find solutions in a rapidly changing real estate landscape. Over said these segments have incredibly strong growth fundamentals both on a global and national scale, and applying technology to identify future drivers of growth, such as infrastructure projects, will initiative a rapid evolution of the logistics market in the country. nREITS are the next to watch In 2019, Asia Pacific REITs (Real Estate Investment Trusts) raised a record amount of capital at over

US$14 billion, surpassing the previous record of US$13.8 billion in 2013. JLL predicts that Singapore and India will see more REIT initial public offerings next year, mainly driven by their focused growth strategies and consistent trading performance. More strategic mergers and acquisitions will allow funds to grow geographically and deepen their investments into newer markets in U.S. and Europe. Crow says: “Looking ahead, REITs are likely to continue their strong trading performance and be highly competitive buyers of real estate assets. Size matters and we can expect to see more consolidation in this sector.” Locally, the Philippine REIT law has created much buzz since end of 2018 (despite being enacted into law in 2009) as prominent local real estate developers are expressing their interest to securitise their assets. REITs present a new avenue to raise capital, diversifying the existing and practiced public and private capital formation in the country. The Philippines’ potential to expand investments through the use of REITs has been untapped due to roadblocks including the prohibitive 12% tax on transfer of assets and minimum public ownership (MPO) of 67%. The Philippine office sector has performed well in the first quarter of 2019 and is expected to remain robust with healthy supply in the pipeline, resilient demand and stable rental growth. These factors should continue to fuel investor interest in the country. There is potential for other asset classes (industrial, retail, residential, and hospitality) to be securitized into REITs as the performance of these sectors continue to thrive and support the local real estate market. REIT will be a big benefitting factor in the Philippine Real Estate Market as it will open a fresh set of funding and capital needed to expand to the office, retail, commercial and industrial real estate sectors, says Christophe Vicic, JLL Philippines’ Country Head. “We are optimistic that there will be more real estate transactions in the country due to this,” he continues.

nSustainability initiatives present investment opportunities The next generation of buildings is set to become more ‘green’, with sustainable technologies to save on operating costs as well as innovative design to attract more occupiers and tenants, says JLL. Recently, Singapore-listed Keppel REIT has obtained a green loan facility to grow its green building portfolio. Crow explains: “We believe that governments in this region are sustainability conscious and proactive in transforming their cities to make them smarter and more livable. These initiatives present opportunities for astute real estate investors, either by acquiring or developing sustainable assets, or being a part of the city redevelopment process.”

and resistant to new ideas. Governance is essential - Smart city governance uses technology to facilitate better decision making; plan, deliver and support smart city implementations; and share real-time data among governments, businesses and citizens. Solutions are complex - After overcoming the organizational challenges, cities are left with their biggest challenge yet: identifying and deploying a solution that can be scaled successfully.  The vendor ecosystem needs to be re-examined - cities must identify products or solutions that deliver their promised value. No one entity is capable of doing everything that is needed in smart cities, so consortiums are key. Funding is limited - While smart city market opportunities are very attractive to technology vendors, their complexities and high levels of risk can inhibit further development.

nFlex space boom continues

Singapore, for instance, has started on its sustainability journey with the decentralization of its CBD, encouraging the redevelopment of older office buildings into mixed-use integrated developments and reducing the use of private transport. Similarly, Beijing has restricted the size of commercial developments in the central area and targets to reduce the population in its six central districts by 15 per cent from 2014 levels. Locally, JLL Philippines recently moved to its new headquarters at the NEX Tower, a building certified by Leadership in Energy and Environmental Design (LEED) and the newest skyscraper in Ayala, Makati. It is also pursuing a certification by WELL Building Standard, a performance-based system for measuring, certifying, and monitoring features of the built environment that impact human health and well-being. “We aim to make the new office an archetype environment for the Future of Work, our outlook that envisions a sustainable and transformed work environment that focuses on human experience amidst a tech-driven job set-up,” said JLL Philippines Country

Head Christophe Vicic. “We believe that putting people at the center of workplace design and augmenting their experience using Digital Drive will result in Collaborative Ideation, Continuous Innovation, Improved Financial Performance and Operational Excellence.”

n Innovative cities will dominate office markets According to JLL’s latest Premium Office Rent Tracker, technology firms – particularly online platforms – are playing a greater role in driving up rents for premium offices, which have previously been the domain of the banking and financial services industry. This is particularly the case in innovationrich cities like Beijing, Tokyo, Seoul, Shanghai, Singapore and Osaka. Like real estate investors, corporate occupiers are attracted to these locations with sophisticated innovation ecosystems. These cities sustain highly skilled workforces and are best placed to succeed in the global marketplace, says JLL. “We’ve seen how technology can help to

shape a city’s economic growth by attracting investors and companies. Beijing’s office market will become a hotspot for investors next year as it has a strong talent pool supported by a deep-rooted innovation ecosystem. It has nurtured the most unicorns outside of Silicon Valley and is the third largest destination for venture capital funding,” adds Crow. In the Philippines, the urban setting is likewise starting to make cities “smarter”. Megacities Manila, Cebu, and Davao have already started rolling out smart city initiatives. But while the promise of a smart city is attractive, delivering it is a challenge. To deliver true value, the smart cities ecosystem needs to address the following six key challenges: Cities are complicated - The size and scale of cities create many organizational challenges. Different authorities often have significantly different requirements and preferences regarding IT projects. Cultural change is difficult - Dealing with cities involves bureaucracy. Many government agencies have not adapted their business and operating models in years, which can make them risk-averse

By 2020, collaborative and agile workspaces are expected to increase from 19 per cent in 2018 to around 30 per cent of corporate commercial property portfolios worldwide, according to a JLL survey of 560 corporate real estate leaders. The firm predicts that flex spaces could expand in key gateway cities such as Singapore, Tokyo and Sydney, where demand continues to be high and there is room for more coworking operators and serviced offices to grow. “Flexible space in Asia Pacific continues to attract the attention of investors and occupiers alike as the sector maintains its strong growth trajectory,” said Crow. “Landlords and developers are likely to maintain their partnerships with coworking operators or serviced offices, and some will create their own flex space offerings to keep up with tenants’ changing needs.” “In the Philippines, many known brands have already put up flexible work space or ‘plug and play’ office spaces, many of which accommodate newcomers, small businesses, and BPO shared services,” explained JLL Philippines’ Head of Commercial Leasing Lizanne Tan. “JLL Philippines offers added value to our clients by coming up with different options for them as well as strategies that would best suit their requirement, whether that calls for flex space or a traditional office. We dig deeper based on their needs, what is valuable to them, and what will be more cost-efficient in the long run,” she said. Watch out for JLL’s quarterly Know the P.O.I.N.T. (Predictions, Opportunities, Insights, News and Trends) to be in the know about the pressing matters in the real estate market. For more details, follow our Facebook (www.facebook.com/JLL) and LinkedIn pages (https://www. linkedin.com/company/jll/).

Ase

Outlook

sMirror

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the Philippine real estate

ec. Montenegro presents the activities of the MDA to the attendees.

Jet Yu, founder & CEO, PRIME Philippines, stresses a point during the forum.

residential condominium supply pipeline in Metro Manila. Some of the demand drivers for the residential condominium market in Quezon City are the following: corporations taking bulk spaces for their employees and high-net worth individuals investing in condominiums near universities and business districts. Clark in Pampanga is also at the frontline with office and residential developments are picking the investment interest of local and international developers and investors owing the ongoing construction of New Clark city and the popularity it gained during the recent 30th Southeast Asian Games in December 2019.

REIT, CITIRA and ease of doing business

AT the Prime forum, from left: Chai Abaya (Regional Head for Visayas and Mindanao Operations, PRIME Philippines), Asec. Romeo Montenegro - Deputy Executive of Mindanao Development Authority, Dr. Maria Lourdes Monteverde - Vice President of Trade and Commerce and Past President of Davao City Chamber of Commerce and Industry, and Ruth Coyoca (Head of Planning and Operations, PRIME Philippines)

AT the forefront of all the exciting news about the real estate industry in the Philippines is the Real Estate Investment Trust (REIT) which has been storing huge returns potential for its participants. With the easement of widely debated proponents of this law, namely, minimum public ownership, VAT-exemption, and enhancement of the qualification of third-party professional managers, this vehicle is expected to take off significantly in the next quarters to come. Other regulations such as the

Corporate Income Tax and Incentives Rationalization Act (CITIRA) are also key changes to watch out for considering its potential major effects on the ease and cost of doing business in the Philippines. The Philippines left the previous year with significant learnings and experiences from all the major events particularly in the business sector – we lost several great taipans, multiple natural hazards struck the country and key regulations have played a huge role in the overall investment play of the country. The business sector left these along with the imposed martial law in the region of Mindanao. For almost two years and a half, the region was under the said rule and in some areas, there had been concerns in business slowdown. The business core of the region, Davao City, however, proved otherwise. It has been resilient, businesses expanding locally and economic activities not wavering, despite the external woes. Now that the region is finally free from such uncertainties especially in the business perspective, the region is expected to grow stronger. In January alone, demand for commercial spaces have gone up and positive investment sentiments have widely spread immediately.

Asec. Romeo Montenegro, Deputy Executive Director of the Mindanao Development Authority presented the agency’s plans of action for Mindanao. “Mindanao has always shown faster growth than any other region in the country… faster than Manila, faster than Cebu!” said Montenegro highlighting positive economic turns for the region and explaining how the subregional economic initiative, BIMPEAGA, provides many potential opportunities for Mindanao to open new gateways for ASEAN trade and industry. Under the Duterte administration’s ambitious “Build, Build, Build” program, the infrastructure masterplan for Mindanao include expansion and modernization of various airports, seaports, and maritime facilities, the development of the Mindanao Railway System, and the modernization of the region's public transportation system which will pilot test in Davao. All these are part of the P7-trillion budget the government has allocated for infrastructure spending until 2022. “Mindanaoans are expected to benefit from all these projects which we also expect to attract more foreign investors to the region,” he said.

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India says US govt politicizing religious riots in which 30 died

EW DELHI—India accused a US government commission of politicizing communal violence in New Delhi that killed at least 30 people and injured more than 200 as President Donald J. Trump was visiting the country. The violent clashes between Hindu and Muslim mobs were the capital’s worst communal riots in decades and saw shops, Muslim shrines and public vehicles go up in f lames. Though the rioting had largely subsided, hospital of-

ficials confirmed the rising toll on Thursday. On Wednesday, the US Commission on International Religious Freedom said it was deeply troubled by the violence and cited accounts that police had not in-

tervened in attacks against Muslims, which police and India’s federal government have denied. “The government is failing in its duty to protect its citizens,” Commissioner Anurima Bhargava said. India’s External Affairs Ministry said the commission’s comments were “factually inaccurate and misleading” and appeared to be “aimed at politicizing the issue.” On Thursday, burned shops and public vehicles stood charred near a highway in Chandbagh, a Muslim-dominated locality. Streets were littered with broken glass and charred petrol bombs as dozens of police in camouflage and helmets patrolled. Mu s l i m s a f f e c t e d b y t h e

v iole nce a l le ge H i ndu mobs screamed pro-Hindu slogans and rioted with impunity, as the police appeared to aid the marauding crowds. Muslim rioters, too, have been violent, and a number of Hindus, including security personnel, are among the dead and injured. Most of the violence, however, appeared to be targeting Muslims who complained that while Hindu mobs went on a rampage, the police went missing. Police have denied the allegations. The violence began on Sunday when clashes between supporters and opponents of India’s new citizenship law quickly escalated into full-blown religious riots between Hindus and Muslims

in working-class neighborhoods on the outskirts of the sprawling capital. Hours before the clashes, local politician Kapil Mishra, who is affiliated with Prime Minister Narendra Modi’s Bharatiya Janata Party, appeared at a rally against the citizenship law’s opponents and issued an ultimatum to the police to clear out the demonstrators. He told the crowd at the rally if police wouldn’t clear out the demonstrators, he and his followers would do it themselves. Many people, including Hindus, believe Mishra and his Hindu nationalist supporters stoked the latest riots. The law that passed in December fast-tracks naturaliza-

tion for foreign-born religious minorities of all major faiths in South Asia except Islam. Nationwide protests followed, with many opponents saying the law is discriminatory and breaks from India’s secular traditions. The supporters of the law, including leaders from Modi’s party, have often called the protests anti-Indians funded by Pakistan. Trump’s first state visit to India included a lavish reception in Modi’s home state of Gujarat and talks with the Indian leader, but the US leader said they didn’t discuss the violence. Trump declined to comment about the citizenship law, saying he wanted to leave that to India, before departing. AP

BORIS JOHNSON TO PUT U.K. ON COLLISION COURSE WITH EUROPEAN UNION OVER TRADE

RIME Minister Boris Johnson will put the UK on collision course with the European Union on Thursday when he lays out his government’s red lines before talks start on a post-Brexit trade agreement next week. The EU said on Tuesday that no deal will be possible unless Britain signs up to so-called level playing field provisions meant to ensure it doesn’t gain a competitive advantage by undercutting the bloc’s regulations. But Johnson’s office made clear only full independence will do—and insisted the premier would walk away and trade with the UK’s closest markets without a formal deal if necessary. “At the end of this year we will regain in full our political and economic independence,”

the prime minister’s spokesman James Slack told reporters. The U.K. wants a free-trade agreement similar to the one Canada has with the EU, but he said a looser arrangement like Australia— which has no FTA with the bloc— would “be OK, as well,” though he conceded there would be “some friction.” Britain’s position leaves the two sides facing a fundamental clash. For the EU, it’s essential that the UK should sign up to European rules on fair competition, and officials in Brussels are likely to regard Johnson’s rejection of this as a betrayal of the pledges he made in the political declaration, the legally non-binding part of last year’s divorce agreement. The pound fell to the lowest in two weeks against the euro, and was little-changed

against the dollar. Johnson’s government, which will publish its negotiating mandate Thursday, is expecting tensions with the bloc over competition and state aid rules, according to a UK official. It also expects difficulties over fisheries—a contentious issue that EU chief negotiator Michel Barnier said this week must be resolved before a deal can be struck. Brexiteers in Johnson’s Conservative Party argued during and after the 2016 Brexit referendum that a trade deal with the bloc would be straightforward because both sides start from the same point in terms of rules and regulations. But the picture has changed significantly, especially after Johnson secured a landslide majority in December’s general election.

Red lines

THE prime minister’s key priority is to secure complete separation from the EU, ruling out any jurisdiction for the bloc in return for frictionless trade. UK negotiator David Frost said in a speech last week that the democratic consent of the British public could “snap dramatically and finally” if voters are forced to stick to EU regulations after Brexit. Johnson’s government has made clear it is willing to reinterpret issues the EU regards as already settled, such as the transfer of goods between mainland Britain and Northern Ireland, which will have a special status with a foot in both trade systems. The UK said it has no intention of build-

ing infrastructure at ports to check goods entering Northern Ireland—and therefore, the EU’s single market—a position that triggered an instant warning over “backsliding” from European leaders including Irish caretaker Prime Minister Leo Varadkar. But Johnson’s team have argued that the EU has backtracked on its own commitments, including the offer of a Canada-style free-trade deal, which London says contains no competition rules of the type the EU is demanding from the UK. The EU argues in return that a commitment to maintaining a level playing field on trade is necessary because Britain is much closer to the bloc than Canada. Bloomberg News

BRITISH Prime Minister Boris Johnson waves at the media as he leaves 10 Downing Street in London to attend the weekly Prime Minister’s Questions at the Houses of Parliament, in London, on Wednesday, February 26, 2020. AP PHOTO/MATT DUNHAM

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A10 Friday, February 28, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Huge profit, if virus stops now

HERE are so many stories surrounding the COVID-19 outbreak and it’s hard to keep up. We could certainly start with all the “theories” as to its cause.

The virus is a result of bioweapons research in China to be used not only against foreign enemies but also as a clean method of population control. Since the death rate is highest among elders, this could be the government’s way of eliminating the least productive members of the economy. The United States could be behind the virus as a way to bring China’s economy to its knees and be forced to surrender in the trade war. Is there nothing that Trump can/will not do? But “US officials said Russianlinked accounts were making unfounded claims that America started the outbreak in an attempt to wage economic war on China.” Russia is involved because Russia is involved in everything. This past week the US press/media reported that Russia was trying to influence the November presidential election by getting people to vote again for Trump. But also Russia was trying to get Democratic front-runner Bernie Sanders to become president. And we have been told that Russia was in part responsible for Duterte being Philippine president. Vladimir Putin must have a huge troll-army budget to the extent that it is moving in opposite directions. Kremlin-sponsored TV station Russia Today originally came up with the story that the virus was spread among humans after they ate bat soup. Environmentalists are on board also. Is the virus the result of global warming that has released an ancient killer frozen in Arctic Ice? One prominent Facebook group “Stop5G,” has posts linking 5G and coronavirus shared by hundreds of people. Members of another group called “STOP 5G UK” suggested the coronavirus outbreak in Italy is linked to the fact that 5G has been rolled out there. From the shadow web: “Those who know how to hack into financial bodies can also hack pharmaceutical companies and create a virus.” There is one situation that is not a conspiracy but is interesting. The World Bank has a financing facility called the Pandemic Emergency Finance Facility (PEF) to provide money to assist with the management of a pandemic outbreak. The funding is raised through issuing bonds, the first of which came out in June 2017. The bonds pay an abnormally high interest rates, ranging from 6.5 percent to 11.1 percent over the Libor rate. Money is given to countries that qualify. Here is where it might get sinister to those that think that way. The World Health Organization basically said “no problem” when first speaking about the virus. That quickly changed, but the idea that China is doing a great job continues. The WHO is still saying there is no need to close borders and “closing borders was probably ineffective in halting the transmission of the deadly novel coronavirus from China and could even accelerate its spread.” There are two tranches of PEF bonds ($425 million) outstanding, maturing in July. If by then the bonds are not triggered, meaning no virus-plagued country qualifies for funding, the investors of the bonds will collect massive profits. However, if the funding is paid out because the COVID-19 outbreak continues to escalate to a global pandemic, the investors will lose everything. Betting against the chance that there would be a massive global pandemic in two years was a no-brainer, especially with the huge payout. And now, which conspiracy theory makes the most sense? Since 2005

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BETTER DAYS

HE announcements that Nokia, Wells Fargo, and Honda will be minimizing or shutting down their business operations in the Philippines have been met with serious concern. Their employees—700 IT professionals in Nokia, 700 out of 750 tech workers in Wells Fargo, and nearly 400 manufacturing workers in Honda—will have to consider how they can best be employed again, and in the shortest amount of time. I can only imagine the difficulty, particularly for Honda employees, as some of them may have had decades in Honda’s work force. It’s not hard to believe that for some of them, the solution will be to work abroad, becoming OFWs, if they cannot find jobs at home that need their skills, and can pay them at least near what they were earning. For others, they may experience a long period of unemployment, and this will produce unwanted stress within their families. It’s imperative now that we craft a “resilience plan” that will allow our country’s economy to sidestep largescale business shutdowns. Such plan should also integrate ways to address other global issues, such as the coronavirus outbreak, as these events disrupt economic processes, particularly in terms of manufacturing. If the coronavirus needs a vaccine to counter it, then our economy needs

a contingency plan to make sure that it can weather the new economic realities that are happening all over the world. Last Wednesday, we held an inquiry on the implementation of government programs concerned with industrialization and employment generation. The inquiry will start the process of figuring out the following—what has been accomplished, which ones are working, and what will have to be done to sustain programs that are working well. Indeed, our economy would be more resilient from large-scale shutdowns if more jobs were available, and if the government invested strategically in generating these jobs. This is where our Tatak Pinoy (Made in the Philippines) initiative

Betting on COVID-19

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

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

Sonny M. Angara

Lourdes M. Fernandez

Senior Editors

Creative Director Chief Photographer

Building a resilient economy

John Mangun

OUTSIDE THE BOX

NCE upon a time in Las Vegas, a person could place a bet on almost any outcome of almost anything under the sun. A guy could walk up to the “book” at the Sands Casino and get odds on whether his pregnant wife would deliver a boy after three daughters. The father-to-be could place a bet that even if he did not get the son he was hoping for, he could at least make some money and go out to celebrate the birth of his new baby girl. In this time of the Internet, where both a complete lack of privacy and political correctness rules our lives, I suppose betting on the gender of your next child would be a capital offense. In the television series Billions, fictional character Bobby Axelrod is out of his Twin Towers office when the first plane hits. He immediately calls a stockbroker friend and “shorts” aviation stocks, hotels and shipping companies. There has been

much conversation as to the ethics of what Axelrod did. I think you know my view on the matter. The fear of a COVID-19 pandemic has created chaos and panic selling in the financial markets and with oil prices. Many people have made a “lot” of money in the past three days. The opportunities for profits are there because tens of thousands are sick and thousands have died. Further, tens of millions and probably more people are going to suffer financial harm—from slight to severe—in the wake of the virus. Stealing from a badly injured person in an automobile accident is

comes in. Tatak Pinoy is not just about saying that something is proudly Philippine-made. It is about identifying and encouraging productive sectors of our industries, in such a way as to give small and medium businesses a better chance of succeeding and expanding their operations. Tatak Pinoy-related programs will help our industries become self-sufficient, and will encourage more local employment for our workers. The goal, really, is to transform the Philippines into an economy that not only consumes, but also innovates, invests and manufactures products, as well. There, too, is a need to take stock of our initiatives for industries that involve information technology, business-process outsourcing, tourism, creative industries, trade, manufacturing, agriculture and aquaculture, logistics, shipping, research and development, and other sectors that will be analyzed as productive. As we can see by the jobs that will be lost when Nokia, Honda, and Wells Fargo pull out their stakes, these industries require that we make action strategies if stakeholders decide to leave or downscale operations. What must be done now is to study how best we can leverage the 2020 P4.1-trillion national budget to innovate and upgrade our own industries, so that we can create more local jobs for our fellow Filipinos. And it is not as if we are lacking in success: Our country is home to global brands like Jollibee, Oishi and Bench. We also have excellent

Tatak Pinoy examples like furniture designer Kenneth Cobonpue, and the Puentespina family, who developed the award-winning Malagos Chocolate from Davao. CSM Philippines, a ceramics company run by the Manriques, exports handmade china plates, teacups and other similar products. Ubisoft developed the video game “Assassin’s Creed” in its Laguna Studio, and SG Interactive prepares audiovisual presentations for Fortune 500 companies. All these are made in the Philippines, so to speak. And this is why one of the goals of the Tatak Pinoy program is to create a unified strategy to encourage and develop Filipino products and services for the local and the global market. We need to work on making sure that we will have jobs and services ready to help those who suddenly become unemployed. We should also make sure that these are local solutions, so our people won’t have to find work elsewhere. We all know too well how difficult the life of an OFW is, and how brain drain is detrimental to our country’s development. In short, we must create more jobs for the Filipino people, now and in the future.

morally reprehensible, with the perpetrator deserving a special tortuous place in hell. However, while not having anything to do with the victims of the COVID-19, there are going to be those that say they will hold until things return to normal. They say, “God watches over drunks and children.” Some have added “and fools.” Sinning fools can find redemption but financial fools usually end up like a bug splattered against the windshield. Unless Divine Intervention cures the COVID-19 problem tomorrow, it will be at least many months before there is any chance of a return to normal. Only the Divine Powers might know what the markets will look like by then. Having said that, the Philippine stock market could mount a recovery much quicker than the rest. But if you are going to bet that way, better hope that your reward will be huge. Every investment decision must come down to comparing the amount of expected loss (and we are counting pesos here) and potential reward. I say “expected” loss because I always assume that the position will lose.

Then an investor must make an estimate of the probability odds of the worst case and of the best case. That is the most difficult part because we often give too much reliance on hopes, wishes and even prayers when we look at our investments. If you want to bet on the COVID-19 “winning” against a quick cure or viral “burnout,” we know what will immediately be damaged. It is really a no-brainer. These have anything to do with tourism—hotels, transportation and souvenir shops. Consumer retail will see some damage but the severity will all depend on the length of time the outbreak continues. Capital expenditure will undoubtedly slow over the next months as business gets very cautious and takes a “wait and see” attitude. But even after all of that brilliant analysis, it all comes down to one thing: Is the Philippines going to dodge this viral firestorm of biblical proportions?

Sen. Sonny Angara has been in public service for 15 years—nine years as representative of the Lone District of Aurora, and six as senator. He has authored and sponsored more than 200 laws. He recently won another term in the Senate. E-mail: sensonnyangara@yahoo.com|Facebook, Twitter and Instagram: @sonnyangara.

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

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Claro Mayo Recto: Champion of Filipino nationalism Manny F. Dooc

TELLTALES

AM writing 100 today, not 30, but I’m far from finished. This is my 100th article for this column, which I started on March 15, 2019, soon after I irrevocably resigned as the vice chairman and PCEO of the Social Security System on the very day that the President had approved and signed into law RA 11199, otherwise known as the Social Security Act of 2019. Had I stayed, it would have amounted to conflict of interests on my part, but that is another story. nnn

LAST February 8 was the 120th birthday anniversary of the foremost Filipino nationalist and statesman, Don Claro Mayo Recto. It would be a gross overstatement to say that the event was fittingly observed since the day passed with nary a whimper or passing comment even from his own family, or any one of note who cares about our nation’s history and its great sons. I have no idea whether his birthday was celebrated in his own hometown of Tiaong, Tayabas, (now Quezon) or in his adopted province of Batangas. It’s unforgivable when our country (and its people) forgets the great deeds and contributions of its illustrious children who had made lasting impact on our development as a nation. No one can dispute that Recto had cultivated and honed the culture of nationalism and patriotic fervor among Filipinos. He held several key posts in government during the American regime and played a major role during the Commonwealth and postwar years before and after our independence. He served as the president of the 1934 Constitutional Convention, which drafted the 1935 Philippine Constitution. In recognition of his significant role, the draft of the 1935 Philippine Constitution was completed on his birthday, February 8, 1935. Legal scholars and constitutionalists regard this document as the best-written Philippine Charter ever. He served both in the House of Representatives and the Senate of the Philippines with distinction. He was first elected as a senator in 1931 when he won over reelectionist Jose P. Laurel in a battle royale in the Fifth Senatorial District comprising the Tagalog region. It was a contest of wit and wisdom between two intellectual giants. He topped the senatorial elections in 1941 before the war broke out. He held various posts in the Executive Department: Commissioner of Education, Minister of Foreign Affairs and Cultural Envoy with a rank of Ambassador to Europe and Latin America. His peers looked up to him as a master parliamentarian without equal in Congress. He was also appointed as an Associate Justice of the Supreme Court by President Franklin Delano Roosevelt shortly after his work as the President of the 1935 Constitutional Convention was completed in 1935. In 1924, he founded Partido Democrata and organized the Nationalist Citizens’ Party in 1957, which was his launching pad for his presidential run following the death of President Ramon Magsaysay. Thus, he is the only political leader who had founded two major political parties during his lifetime. His quest for the highest elective position was not successful. It seemed that the Filipino people were not yet ready for his modern political thoughts, keen sense of patriotism and burning nationalism. Also contributing to his defeat was the black propaganda reputedly resorted to by the CIA, which included the distribution of condoms with holes in them and marked “Courtesy of Claro M. Recto” on the labels. His frustration was that all administrations under any president of the Republic toed a foreign policy char-

It’s unforgivable when our country forgets the great deeds and contributions of its illustrious children who had made lasting impact on our development as a nation. No one can dispute that Recto had cultivated and honed the culture of nationalism and patriotic fervor among Filipinos. His greatest political fight was waged when he fought in court to acquit himself from the serious charge of treason when he was accused as a Japanese collaborator during the war. acterized by “subservience and colonial mentality.” He lamented our sycophant government subservient to America and the Almighty Dollar. It was classic Recto when he assailed the mendicant foreign policy of then-President Elpidio Quirino. “A bankrupt administration must necessarily have a foreign policy of mendicancy and it is inevitable that it should invite foreign intervention to do what it cannot do for itself. Because beggars can’t be choosers, we can be safely ignored, taken for granted, dictated to, and made to wait at the door, hat in hand, to go only when invited.” What he said then still rings true today that “any sound foreign policy should be solely based on national self-interest.” His greatest political fight was waged when he fought in court to acquit himself from the serious charge of treason when he was accused as a Japanese collaborator during the war. He did not accept the amnesty offered to him and instead chose to defend himself in court where he succeeded in proving the patriotic conduct of the Filipinos who served the Japanese Puppet government during the war. Undoubtedly, he was the brightest mind of his generation whose speeches and writings were much valued and admired. Later day nationalists like Lorenzo Tañada, Pepe Diokno, Jovito Salonga and Renato Constantino revered Recto and regarded him as the Father of Philippine Nationalism. When it was not the fad to be anti-American and opposing American interests in the Philippines was a political suicide, Recto was alone in denouncing the presence of US military bases in our country. Ironically, for one whose love for one’s country was unparalleled, he died alone from a heart attack while on an official mission in Rome on October 2, 1960. It would make a great difference to have Recto on PRRD’s side as he serves notice to the US that he is terminating the VFA. His incisive analysis and logic, and his gift of language would be unmatched by the Americans. I’m certain that Recto would find cogent reasons, other than Sen. Bato de la Rosa’s visa cancellation, to pound the issue, which would be incontrovertible to the opposing side. nnn

IT is the saddest day in our life when a nation forgets its great sons and daughters. As Robert Frost once said, “a civilized society is measured by the men it honors, by the men it remembers.” Don Claro, this piece is for you—dedicated to your noble memory!

Friday, February 28, 2020 A11

Breaking the spell: The Ibong Adarna Tito Genova Valiente

ANNOTATIONS

HERE is a film that should haunt us after its restoration. But first, the question: Why restore the old film called Ibong Adarna?

In 1941, LVN released the film Ibong Adarna. On screen credits are given to two directors or pioneers: Vicente Salumbides for the story and direction, and Manuel Conde for technical direction. Between the two geniuses are histories of cinema blurred by years of war and neglect. Remastered by the ABS-CBN, Ibong Adarna sings again and its plumage changes in enchanting colors. It joins the five or six—give and take their present physical forms— films made before the war. It was in 1941 when Ibong Adarna was first released. There are no clear dates as to when it was premiered. Suffice it to say that it was shown months before the three long and sad years of World War II came to the land. It was the film that would first feel the demarcation between the pre- and post-War, a cluster of periods that would scar the country and its arts. The said film is based on a corrido, a narrative poetry or metrical romance. The literature tells of the story of three sons—all princes. They are: Don Pedro, Don Diego and Don Juan. As happens in this kind of tale, the prime cause for the adventure to happen is an affliction: the King becomes ill. He grows weaker every day and the doctor tells everyone that there is only one cure for the king’s illness and that is the song of an enchanted bird, the Ibong Adarna. The bird must be captured and be made to sing before the king. The mythical bird has a voice that can heal. It is not, of course, easy to catch the bird because it is enchanted. The song that could heal is also the same sound that could kill, or at least turn those who hear it into stone. The eldest goes first. On his way to Mount Tabor, he encounters an old man with disease who asks for food. Don Pedro is mean and does not give the old man anything. When he reaches the peak of the mountain where the tree with silver leaves grows, he waits for the bird. The bird does come and starts to sing. The prince hears the sweetest melody and he soon falls asleep. Under the tree, the excrement of the bird falls upon him and he is soon transformed into a stone—a special effect that is still startling up to this day given the

limited technology of those years. When the eldest son fails to return, the second, Don Diego, sets out to hunt for the bird. He goes through the same pattern of adventure. Failing the test, he is turned also into a stone. With the second son not coming back, the youngest tries his luck in catching the enchanted bird. Don Juan also meets the old man but instead of refusing the latter food, the young prince shares with him his food supply. We all know what happens in this kind of tale: Don Juan does not only catch the bird; he also saves his two brothers. What could have been the end of the story is really the beginning of more stories about women fighting for their men, brothers out to betray brothers, and kings with more tasks to be done because life is hard and there is no such thing as free meal in this town. As the plot gets convoluted, the bird disappears from the narrative. But the storytelling has to end. In the end, the three brothers are reunited and they all have the women fit to be their partner for life.

When the film was screened in Naga City as part of the Cinema Rehiyon, a gathering of filmmakers from different parts of the country, Ibong Adarna brought with it all the might of the contradictions of our artistic heritage. The mostly young audience, for example, it seemed, never questioned the simplistic account of betrayal and love. As the youngest prince struggles with who to choose as his wife, the viewers are caught up in a tale of romance now shrunk to the size of handsome boy meets an old flame and an account that could be best summed up as a love triangle. Interesting, however, is another fact: Ibong Adarna has ceased to be merely a film for entertainment and is now an artefact of who we are as a nation of film viewers and filmmakers. What must have been the reaction of the Filipino viewers in the 1940s as they witnessed human forms vanish and in their place stones were created? How did the critics respond to Ibong Adarna the film? Were they hot on symbols then? In the film, the mountain where the Ibong Adarna lives is called Mount Tabor, a name more associated with the biblical mound of Transfiguration. There is a scene in the film where the enchanted princess makes an entrance as a powerful “empress” in order to disrupt the wedding of her man to another woman. Apparently, Don Juan, the prince with a noble heart is not noble at all. He forgets the princess who saved his life many times over. Not even the physical presence of the woman

Corruption can’t be concealed Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

B week.

ROTHERS and sisters, the modus operandi of those corrupt personnel in the Bureau of Immigration is both saddening and infuriating, as Sen. Risa Hontiveros revealed this past

This was exposed when the Senate conducted a hearing about the rising crimes related to the operations of Philippine Offshore Gaming Operators or POGO. Aside from the allegations of sex trafficking, the hearing exposed a system of how immigration employees in airports were bribed by Chinese nationals who enter the country. According to witnesses, the amount of these bribes may reach around P10 billion, in the form of “kickbacks” received by corrupt immigration officials from the Chinese nationals that were given fast entry into the country for a P10,000 “service fee.” These fees are shared among the

employees, and they receive these through rolled white papers that resemble pastillas. These fees are now placed in envelopes. Despite the Duterte administration’s announcements that it has reduced corruption because of its strong campaign against graft and corruption, it is still evident that some government officials continue to illegally line their pockets. Immigration officials who attended the hearing said that they only found out about these bribes when they were exposed by a whistleblower, but based on the evidence presented, the amount of bribes pocketed

by corrupt immigration officials and employees could amount to billions. The Duterte administration still encourages investors from China to establish businesses in our country—including casinos. The Bureau of Immigration even claimed that the number of Chinese nationals who are in the country has reached 1.8 million. Hontiveros said that if 1 million of these entered the country with a “service fee” of P10,000, the amount would reach P10 billion in bribes received by corrupt immigration personnel. The issues revolving around the POGO industry in the country— from prostitution to bribery benefiting corrupt employees—reflect the truth that love for money is the root of evil. According to the book of 1 Timothy 6:10, “For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.” Those involved in this pastillas scheme may not have experienced yet the despair in life but now that we are informed of this evil act, surely they will see the fruit of the sins they have to

who loved him and sacrificed much for him could break the spell of a regular love. It takes a performance conjured by Princess Maria, the woman with magical powers, to finally wake up Don Juan from a deep forgetfulness. That performance meant to aid the memories of Don Juan is a dance by two phantasms: a woman and a woman both black. In the dance, the woman whips the man as she gradually enumerates the events that, perhaps, could remind the prince that he once was in another kingdom, and there loved this woman now fighting for that love. Captured on screen, Ibong Adarna seems to tell us that the metaphor of magic we attribute to love and passion can only be surmounted by another form of magic, one that straddles the line between make-believe and mysticism. Woe to a woman whose rival is a being that can create visual tricks to display an argument. Woe to a man, to a prince who can surmount the impossible tasks of finding an enchanted bird whose song can kill and heal, and yet suffer under the illusion manufactured by a woman in love. There are more things to discover in a film that, on the surface, is a tale of hermits and giants, royalties beholden to birds. Do not ignore Don Juan as played by Fred Cortez, he with the most ethereal face more Hollywood machinery than nationalist imagination. Or, of an audience that, after many years, still worship at the shrine of a male allure different from what we see each day on the street and in ourselves.

E-mail: titovaliente@yahoo.com

pay. From our latest news, President Duterte dismissed every official and employee in the Bureau of Immigration involved in corruption. The question now is, will the law truly hold them accountable for what they have done? What is also said in the social teachings of the Church, it is the responsibility of those with the authority to punish the people who committed wrongdoings and reward those who do good things. In this way, our leaders become instruments of correcting the perspective toward our freedom as people—the freedom that must not be used in order for us to do what we want, including taking bribes, but to uplift the good and serve God. Brothers and sisters, let’s await the conclusion of the Senate hearing about POGOs and the corruption it has exposed. Those involved must be held accountable because corruption can never be concealed. Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph, and follow its Twitter and Instagram accounts @veritasph, and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

A12 Friday, February 28, 2020

House leaders send mixed signals on ABS-CBN fate

By Elijah Felice E. Rosales & Jovee Marie N. dela Cruz

@alyasjah

@joveemarie

HE House of Representatives will pass the franchise renewal of television giant ABS-CBN in a move to stabilize the business environment in the Philippines and prove there is “Rule of Law” under the Duterte administration, a chamber leader said on Thursday. On the sidelines of a forum with the Makati Business Club, Rep. Joey S. Salceda of Albay said he is confident the House will pass the franchise renewal

of ABS-CBN. He argued that the chamber will repeat its decision in allowing the Catholic Bishops’ Conference of the Philippines (CBCP) to continue its broadcast

“Like the renewal of the franchise of CBCP—which would have been more problematic given the more antagonistic relationship between the administration and the Church—I would expect that the ABS-CBN franchise will be renewed.”—Salceda

operations in spite of the criticisms against the government and Duterte of some leading bishops, and the reciprocal antipathy displayed by the President against several of them. Salceda believes legislators will approve the ABS-CBN franchise to send a message to the business

community that the administration upholds the Rule of Law. “Essentially, there is Rule of Law. Like the renewal of the franchise of CBCP—which would have been more problematic given the more antagonistic relationship between the administration and the Church—I would expect that the ABS-CBN franchise will be renewed,” Salceda said. “Most likely, if the CBCP [franchise] slipped past Congress, I believe that of the ABS-CBN will pass, as well,” he added. Salceda shared his view a day after Duterte said in an ambush interview he accepted ABS-CBN’s apology for not airing some of his ads and its delay in refunding him. See “ABS-CBN,” A2

Senators push reso for network’s franchise

EN. Grace Poe, who chairs the Senate Committee on Public Services tasked to review and grant franchises, maintained on Thursday that a joint SenateHouse Resolution will suffice to allow ABS-CBN to coninue operating pending approval of a new franchise

from Congress. Referring to a letter sent by the House of Representatives to the National Telecommunications Commission, Poe said, “We welcome the decision of the House to finally give NTC the necessary guidance on the ABS-CBN franchise.” In a

NORTHEAST MONSOON AFFECTING EXTREME NORTHERN LUZON as of 4:00 pm - February 27, 2020

statement, Poe added: “I share the opinion that a concurrent resolution by the Senate and the House is needed to allow the network to operate while the 18th Congress tackles its franchise renewal. Kailangang malinaw ito para maisarado na rin ang isyu [This must be clear in

order to close this issue].” At the same time, Senate Minority Leader Franklin M. Drilon welcomed the move by leaders of the House of Representatives to ask regulators to grant ABS-CBN provisional authority to operate pending a fresh franchise from Congress. “That’s good, because, then, if you look at the antecedents, there is in fact a memorandum of agreement signed by the NTC and the KBP [Kapisanan ng mga Brodkasters ng Pilipinas], basically saying that while the renewal of franchise is pending in Congress, it states that they can continue to broadcast so long as the renewal of franchise is being processed,” Drilon said. Drilon noted that this “indicates the perception of the NTC of its power,” recalling former Chief Justice Reynato Puno saying that a franchise is needed. “First of all, let me emphasize that the power to grant franchise is with Congress. This is a constitutional duty of Congress. The interpretation of the Constitution is not the exclusive monopoly of the Supreme Court. Both the Congress and the Executive branch, represented by the Justice secretary, are of the common view that the NTC can issue a provisional authority pending the processing by Congress of the renewal of the franchise.” Meanwhile, the Senate Minority Leader declined to stoop “down to the level” of Speaker Alan Peter Cayetano’s characterization of senators as sipsip (sycophants) to the media giant. “We will not go down to that level of characterization, of calling a coequal branch sipsip,” said Drilon, adding, “We would like to think that Speaker Cayetano knows the principle of interparliamentary courtesy, wherein we respect each other’s process.” He reminded everyone that, “It has been made clear that we are hearing a resolution extnding for a short period of time the franchise of ABS-CBN but we will not act on it until the House of Representatives passes a similar measure.” Butch Fernandez

THE QUICK BROWN JU A.D.B. EXTENDS $2MFOX MORE OVER THEAS-PAC LAZY DOG. TO HELP STATESTHE LAZY DOG COVID-19 COPE WITH By Cai U. Ordinario

@caiordinario

HE Asian Development Bank (ADB) aims to scale up funding to support efforts to prepare and build resilience to pandemics. In a statement, ADB approved another $2 million to help developing countries in Asia and the Pacific contain the outbreak of COVID-19. This is the second time this month that the Manila-based multilateral lender has provided $2 million to strengthen the immediate response capacity in several developing membercountries. “Over the longer term, this can be scaled up to focus on supporting pandemic preparedness and building resilience,” ADB said in a statement. The funds will be available for all ADB developing member-countries in updating and implementing their pandemic response plans, including buying emergency supplies and equipment. ADB said the funds can also be used to assess health systems and determine the economic impacts in order to improve future resilience. The Manila-based multilateral development bank also said the funding will be used to coordinate better regionally to prevent, detect and respond to animal and human disease outbreaks. Releasing the funds will be

conducted in close collaboration with the World Health Organization (WHO). “The severity of the Covid-19 outbreak is escalating, and past disease outbreaks have had large impacts on social and economic development,” ADB Vice President for Knowledge Management and Sustainable Development Bambang Susantono said. “ADB’s funding will help countries catalyze efforts to mitigate further damage to the health of families and economies and position them to better respond to the current and future outbreaks,” he added. ADB initially made available $2 million in assistance for Cambodia, the People’s Republic of China (PRC), the Lao PDR, Myanmar, Thailand and Vietnam. Apart from this, ADB said it also provided a private-sector loan of up to CNY130 million or $18.6 million to the Wuhanbased Jointown Pharmaceutical Group Co. Ltd. to enhance the distribution and supply of essential medicines and protective equipment. ADB said past epidemics have shown that impacts can rapidly extend to all areas of a country’s economy, triggering fiscal shocks with long-term negative consequences that threaten stability and economic growth. Countries and businesses that rely on tourism are particularly vulnerable. Trade and supply chains also suffer.

2019 budget deficit widens to P660.2B Continued from A1

a sudden interest rate hike and a sudden increase in debt ratios, then it is good. Interest and debt ratios were on the declining path last year,” Finance Secretary Carlos G. Dominguez III told reporters in a Viber message. Budget Secretary Wendel E. Avisado attributed the surge in spending in December to the government’s catchup spending on infrastructure and social services in view of the delayed enactment of the 2019 General Appropriations Act, and the grant of one-time Service Recognition Incentive to state workers. According to the BTr, the disbursements record in December were also pulled by the implementation of the social protection programs and services of the Department of Social Welfare and Development, payment of pension and retirement benefits, as well as the requirements for the creation and filling of positions in various agencies. Sought for comment on the budget deficit last year, Avisado told the BusinessMirror: “[From] DBM’s [Department of Budget and Management’s] perspective, this is good since we want to release what is appropriated by Congress. However, the DOF [Depart-

ment of Finance] resorted to additional borrowing since revenue collections fell short versus original program.”

Missed targets MOREOVER, both the Bureaus of Internal Revenue (BIR) and of Customs (BOC) missed their targets of P2.2714 trillion and P661 billion, respectively. Despite this, the BIR improved its full-year collection by 11.46 percent to P2.1755 trillion, from P1.9519 trillion in 2018. Meanwhile, the BOC’s net revenue take in 2019 amounted to P630.3 billion, 6.27 percent higher than the P593.1 billion in 2018. The BTr generated P146.5 billion in 2019, nearly double the program of P73.9 billion and 28.3 percent higher compared to the P114.2 billion recorded in 2018. Growth was propelled by higher interest income from national government deposits, dividend on shares of stocks, interest on advances to government-owned and -controlled corporations as well as interest income from Bond Sinking Fund (BSF) investments and the national government’s share the from Philippine Amusement and Gaming Corp.’s income.

Cayetano, Velasco: House term-sharing pact brokered by Duterte will be honored

OUSE Speaker Alan Peter Cayetano on Monday said Marinduque Rep. Lord Allan Velasco was behind the ouster move against him. But Velasco said Cayetano’s allegation is baseless. In an interview, Cayetano said Velasco is now moving to oust him amid the controversy stirred by the

ABS-CBN franchise renewal and national budget issues. According to Cayetano, he received information from 20 lawmakers that Velasco is promising chairmanship and budget allocation to them under his leadership. “[He is] offering funds and chairmanships under [Velasco’s leadership], and even speaking to some

lawmakers himself,” he said. “It is normal to deny it when you get caught. But unless 20 congressmen are lying to me that they were promised chairmanships and told that ‘next year is my budget, I would dictate to whom it goes’ etc. And I don’t think these 20 congressmen would really spark intrigue,” he added. See “Term-sharing,” A2

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Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE NCR Regional Office located at 967 Maligaya St., Malate, Manila, within 30 days after its publication. Please inform DOLE NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Companies BusinessMirror

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Friday, February 28, 2020

BDO income expands by 35% last year

DO Unibank Inc. said it was able to increase its net profit by 35 percent in 2019, owing largely to the strong performance of its core recurring income sources.

the back continued current account and savings account (CASA) growth and improving loan mix in favor of consumer and middle market customers. Its non-interest income reached P60.6 billion, led by the fee-based income at P35.3 billion and insurance premiums at P14.8 billion. Trading and forex gains settled at P5.7 billion. Overall, gross operating income went up to P180.5 billion. The bank incurred P115.2 billion in operating expenses last year. BDO said its expenses mainly emanated from its continuing business and network expansion, as well as higher

volume-related expenses, specifically, taxes and licenses and policy reserves at BDO Life. “Moving forward, BDO’s robust business franchise, extensive distribution network, solid balance sheet and focused growth strategy place the Bank in an advantageous position to tap growth opportunities and development thrusts in line with government priorities while remaining resilient to domestic and external challenges,” the bank said in a statement. BDO’s consumer loan base rose 9 percent to P2.2 trillion in 2019, while deposits grew 3 percent to

The bank reported that its net income last year rose to P44.2 billion in 2019, from P32.7 billion in 2018. The figure is higher than their target of P38.5 billion for 2019. BDO’s net profit for 2019 translates to a Return on Common Equity (ROCE)

of 12.8 percent, from 10.7 percent the year before. BDO’s net profit was driven by the rise of its net interest income to P119.9 billion in 2019, from P98.3 billion in 2018. The bank said its net interest margin improved on

Aramco prepares for overseas listing

‘Cost of Pandacan fire at ₧1B’

AUDI Aramco is starting early preparations for an international listing, just months after the oil giant turned its record initial public offering into a domestic affair and sidelined global banks, people with knowledge of the matter said. The world’s largest publicly traded company is in discussions with Wall Street banks to draw up scenarios for a second listing overseas, according to the people, who asked not to be identified because the information is private. Aramco wants to be ready to move ahead if Saudi Arabia’s defacto ruler, Crown Prince Mohammed bin Salman, gives the go-ahead to proceed with the plans, the people said. The company hasn’t set a timetable for the potential deal, the people said. An overseas listing is currently seen as unlikely to take place this year given market conditions and a weak outlook for commodity prices, according to the people. Aramco is considering a secondary listing even after its December offering fell short of Prince Mohammed’s lofty ambitions. The company sold less than 2% of its capital and opted for a local listing after international investors balked at his $2 trillion valuation target. Global equity indexes global markets are also feeling the weight of the coronavirus outbreak amid concerns that the epidemic is spreading outside of China and hurting corporate earnings.

Asian exchanges

SHARES of Aramco are down about 5 percent this year after the company’s valuation briefly touched the $2 trillion mark in December. Oil, which drives its revenue, has had one of the worst annual starts in years and may come under further pressure as the virus spreads. The oil producer is currently focusing on Asian exchanges as potential listing venues, though no final decisions have been made, the people said. Some banks that worked on Aramco’s $29.4 billion IPO last year are involved in the discussions, the people said. Aramco, officially known as Saudi Arabian Oil Co., declined to comment. Under the terms of a lock-up agreement outlined in its IPO prospectus, the Saudi government can’t sell more shares in Aramco until 12 months after the initial deal was completed, unless one third of the IPO’s joint global coordinators agree. Bloomberg News

@llectura

PHOTO FROM DEPARTMENT OF PUBLIC WORKS AND HIGHWAYS

By Lorenz S. Marasigan @lorenzmarasigan

HE damage caused by the fire in Pandacan, Manila to Skyway Stage 3 as well as the packaging plant of San Miguel Corp. (SMC) is estimated to have reached the billion-peso mark. The conglomerate said the fire in Pandacan was caused by the metal grinding and welding activities of a subcontractor atop a steal beam of the Skyway, citing a report from the Bureau of Fire Protection (BFP). To recall, the expressway, currently being built by the food-toinfrastructure firm, collapsed last month, after a massive fire hit some of its portions. The fire also razed the

Manila Plastics Plant, the packaging business of SMC. “While this is an unfortunate setback, we have moved quickly to get back on track with the construction,” said SMC President Ramon S. Ang. There were no casualties reported, but construction work at the Skyway System is now delayed. “We are working double time to deliver the entire Skyway Stage 3 project in five months’ time or by July. This is just a three-month delay from the original target date of April 2020,” said Ang. A portion of the Skyway Stage 3 extension project collapsed on February 1 following a big fire in Pandacan, Manila. Skyway Stage 3, which will run for about 18.3 kilometers between

Buendia in Makati and Balintawak, Quezon City, was targeted to be fully completed within the second quarter. It is part of the Edsa decongestion program that the government launched to cut travel time between Edsa’s end point to 30 minutes from over 2.5 hours. The Department of Public Works and Highways has allocated P384 billion for its Edsa decongestion program, which involves the construction of 13 roads/expressways and 10 bridges in Metro Manila. Public Works Secretary Mark A. Villar said, however, that additional highways and bridges is not the sole solution to the perennial Edsa traffic, and that it should be complemented with a compatible mass transit system.

@villygc

HIRST Park Homes Inc., the joint venture horizontal property unit of Century Properties Group Inc., on Thursday said it acquired a 30-hectare property in Batulao, Nasugbu, Batangas, from one of the listed firm’s unit. The company said it acquired the said property from CPG’s unit, Century Limitless Corp., the brand that focuses on developing high-quality, affordable residential projects which caters to first time home buyers, start-up families and investors. PHirst Park said it will allot some P550 million in capital expenditures for the entire Nasugbu project, which

will be developed in phases. PHirst Park president Ricky Celis said the company’s future Batangas project will have a mix of modern and rustic ambiance with tree-lined streets and wide-open spaces. The community will have a green landscape and view of Mount Batulao. The Nasugbu project will be launched in the first quarter of 2020, but Celis said initial selling for the first 13 hectares with 1,021 units will start this month. “Before we end the year 2019, we achieved another milestone as we acquired one of the prime properties in Nasugbu, Batangas. We are very much excited for the opportunities to develop this into a showcase community,” said Celis. He said the master plan design

will be more distinctive compared to other PHirst Park Homes brand by introducing new components in the project, such as a commercial center and new house models that are eco-friendly. It will also have wider road networks and more amenities or open spaces. The project is located along Nasugbu Highway, a 1.5-hour drive from Manila via the Sta. Rosa-Tagaytay Road. It is also a 20-minute drive from Tagaytay City and a 42-minute drive to the beaches of Nasugbu. It will soon have direct access to the Cavite-Tagaytay-Batangas Expressway, which connects Silang, Cavite to Nasugbu, Batangas Road. “Future residents will get to experience a world-class develop-

ment at an affordable price point. People can jog in the streets freely, kids can play in the park, or throw a party at the clubhouse—and be rest assured of utmost security and peace of mind when you are inside the PHirst Park Homes project,” said Celis. PHirst Park is joint venture company of CPG and Japan’s Mitsubishi Corp. It has launched five projects covering a total of 91 hectares and 8,799 units valued at P14.4 billion. The company is expected to roll out 10 more out of 15 masterplanned communities in north and south Luzon with 33,000 homes by 2023 to help address the country’s 6.6 million housing backlog.

tional loan and deposit products, as well as treasury, trust banking, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards and credit card services. It has the country’s largest distribution network, with over 1,400 consolidated operating branches and more than 4,400 ATMs nationwide. It also has 22 overseas remittance and representative offices (including full-service branches in Hong Kong and Singapore) in Asia, Europe, North America and the Middle East.

NEA chief: Pay hike of managers is legal By Lenie Lectura

PHirst Park acquires Nasugbu property By VG Cabuag

P2.5 trillion. The bank also reported that it has set aside P6.2 billion in 2019 for provisions, even as gross nonperforming loan (NPL) ratio was steady at 1.2 percent. Total capital base increased to P370.6 billion, with Capital Adequacy Ratio and Common Equity Tier 1 ratio at 14.2 percent and 12.7 percent, respectively. Both figures exceeded the regulatory requirements of the Bangko Sentral ng Pilipinas. BDO is a full-service universal bank which provides a wide range of corporate and retail banking services. These services include tradi-

ATIONAL Electrification Administration (NEA) Administrator Edgardo Masongsong on Thursday denied allegations that he had abused his authority when he issued memoranda increasing the salaries and retirement benefits of general managers (GMs) of the electric cooperatives (ECs). The allegations were raised by the National Association of Electricity Consumers for Reforms, Inc. (Nasecore). Masongsong said the issuances were all aboveboard and that the accusations were just part of a “malicious scheme” aimed at destroying his reputation. NEA Memorandum No. 2018-003 dated January 17, 2018 and NEA Memorandum No. 2019-008 dated January 24, 2019, Masongsong said, were issued and implemented upon approval by the NEA Board of Administrators (BOA) through resolutions issued during regular board meetings, and were published in the UP Law Center, Office of the National Administrative Register. Nasecore earlier urged Energy Secretary Alfonso Cusi to remove Masongsong from office. He said that the allegation that he had abused his authority “is nothing more than a malicious scheme designed to portray me in a bad light.” “It is bereft of any basis in fact and in law—a hatchet job by desperate people who are part of an organization that has vested interests inimical and prejudicial to the industry,” the NEA chief added. He also said that under Presidential Decree No. 269, as amended, the NEA has supervision and control over the management and operations of ECs to ensure their economic, tech-

nical, and financial viability. “Part of this oversight function is to ensure that the ECs meet operational and financial standards and take preventive measures, including the development of standards and protocols for the efficient operation of the ECs,” said Masongsong. “The task of continuously monitoring the operations of ECs, including the setting of salary standards of the general managers and employees, lies with the management of NEA,” he added. According to Masongsong, the increases in the salaries of the EC general managers also pale in comparison to the executives of the Manila Electric Company (Meralco), as highlighted by Nasecore. in its letter to Cusi. “The highest salary adjustment for an EC general manager, which shall be secured with all the efforts to further improve the EC performance, is far below the salaries enjoyed by Meralco executives. To compare the same, as propounded by Nasecore, is to highlight the disparity in figures,” the administrator said. Masongsong also emphasized that the salary adjustments of GMs are not automatically given, contrary to the allegations of Nasecore; and these are only granted when general managers meet the required conditions stated in Section 5 of the NEA Memorandum No. 2019-008. “The desire to be granted a salary adjustment under NEA Memorandum No. 2019-008 does not only encourage GMs to perform better, it will likewise further the interests of member-consumers with improved electricity services, and in the long run, mechanisms for the reduction of electricity rates and lower system loss,” he said.

Nlex eyes higher traffic volume

LEX Corp. said it hopes to reach, or even top, its traffic volume increase target this year, as it opens a new section of the North Luzon expressway next month. Luigi Bautista, the company’s president, said his group aims to increase traffic volume on the Nlex by 7 percent to roughly 363,800 vehicles per day. The company wants to increase this further with the opening of the C3-R10 section of the Nlex. “The projection is still 7 percent increase in volume. Hopefully this will ramp up once we open the whole section,” said Bautista. The group will open in March the full 2.6 kilometers of the C3-R10 section, as completion rate is at 82 percent last week. An exit to Malabon was opened last Friday.

About 30,000 motorists per day will stand to benefit from the new road once the entire Harbor Link C3-R10 Section has been fully completed. The 2.6 -kilometer elevated NLEX Harbor Link C3-R10 Section runs between the new Caloocan Interchange in C3 Road, Caloocan City to Radial Road 10, Navotas City, connecting the previously opened 5.65-kilometer NLEX Harbor Link Segment 10 that traverses Karuhatan, Valenzuela City, Governor Pascual Avenue in Malabon City, and 5th Avenue/C3 Road, Caloocan City. Nlex Corp. recorded a 7 percent increase in traffic volume in 2019 to 340,000 vehicles per day. Bautista declined to provide revenue targets for 2020. Lorenz S. Marasigan

Companies BusinessMirror

Friday, February 28, 2020

PSE STOCK QUOTATIONS

February 27, 2020

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

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

51 142.5 80 24.8 11.08 57.25 12 29.9 51 110.3 19.9 163.9 57.5 0.8 17.84 3.04 0.39 0.72 172.1 1775 1.16

51.5 143 80.4 24.9 11.32 57.5 12.2 30 52.4 125.2 20 164 57.7 0.85 18 3.8 0.42 0.75 173 1850 1.19

51 137 80 24.75 11 59.1 12 30.2 51.3 110.3 19.9 157 57.6 0.81 17.82 3.01 0.375 0.74 172.7 1775 1.15

52 144.6 81 25 11.48 60 12 30.5 51.3 110.3 20 164.9 57.7 0.85 18 3.8 0.42 0.75 173 1775 1.2

51 136.4 80 24.75 10.94 57.2 12 29.7 51 110.3 19.9 157 57.5 0.81 17.82 3.01 0.375 0.72 172.1 1775 1.15

51.5 143 80 24.8 11.08 57.25 12 29.9 51 110.3 20 163.9 57.5 0.85 18 3.8 0.42 0.72 173 1775 1.19

160 4347250 2914090 68100 48400 2640720 10000 336400 1400 110 4500 398080 155050 19000 2000 11000 190000 78000 400 15 64000

8255 616652545 -92146075 233,651,300.5( 79,750,268.0002) 1688620 -1123290 535992 -120910 152838480 -74394563 120000 10059510 526870 71539 12133 89660 -25980 64605655 -14206533 8916048 -1856534 15670 -1620 35910 -18000 39790 72750 56330 -0 68996 27536 26625 76010 -

INDUSTRIAL AC ENERGY 2.1 2.13 2.07 2.14 2.04 2.1 3393000 7122260 ALSONS CONS 1.18 1.2 1.18 1.18 1.18 1.18 60000 70800 ABOITIZ POWER 28.4 28.75 29.1 30.35 28.4 28.4 2104700 61436320 BASIC ENERGY 0.209 0.214 0.212 0.216 0.209 0.214 400000 84770 FIRST GEN 18.9 19 18.8 18.9 18.6 18.9 1287700 24209258 FIRST PHIL HLDG 62.1 62.2 62.6 63.45 62 62.2 70180 4364466 MERALCO 260 262 257.2 261.8 256.6 260 404960 105140556 MANILA WATER 12.1 12.14 11.98 12.24 11.8 12.14 3249100 38936852 PETRON 3.37 3.39 3.4 3.4 3.36 3.37 911000 3075950 PETROENERGY 3.5 3.7 3.74 3.74 3.7 3.7 10000 37240 PHX PETROLEUM 10.3 10.68 10.62 10.68 10.56 10.68 367200 3917666 PILIPINAS SHELL 26.7 27 27.3 27.5 26.05 26.7 508900 13605145 SPC POWER 8.81 8.82 9.05 9.05 8.81 8.81 92700 825746 AGRINURTURE 7.09 7.18 7.23 7.25 6.96 7.2 1515100 10821433 AXELUM 2.82 2.83 2.75 2.88 2.75 2.83 1676000 4752630 CENTURY FOOD 14.86 14.98 14.8 14.86 14.8 14.86 462600 6846660 DEL MONTE 4.3 4.78 4.5 4.5 4.46 4.46 7000 31260 DNL INDUS 7.7 7.8 7.75 7.9 7.68 7.7 2060100 16054766 EMPERADOR 7.89 7.9 7.66 7.89 7.66 7.89 2477300 19357287 SMC FOODANDBEV 69 70.7 72 72 69 70.7 268090 18807371 ALLIANCE SELECT 0.62 0.63 0.61 0.62 0.6 0.62 814000 498870 FRUITAS HLDG 1.69 1.7 1.71 1.75 1.68 1.7 18142000 31082330 GINEBRA 33.5 34 35 35 32.2 33.5 21700 725950 JOLLIBEE 174.5 175.2 175.4 180 174.5 174.5 652780 114402846 MACAY HLDG 6.5 6.52 6.5 6.5 6.5 6.5 200 1300 MAXS GROUP 9.1 9.25 9.05 9.22 9.05 9.1 77400 707218 MG HLDG 0.155 0.164 0.153 0.164 0.153 0.164 580000 93010 PEPSI COLA 1.81 1.85 1.82 1.86 1.8 1.85 1925000 3540790 SHAKEYS PIZZA 8.65 8.7 8.7 8.98 8.6 8.7 433100 3,808,648( ROXAS AND CO 1.59 1.6 1.61 1.65 1.55 1.6 378000 608910 RFM CORP 5 5.26 5 5 5 5 200 1000 SWIFT FOODS 0.116 0.12 0.117 0.12 0.116 0.116 310000 36370 UNIV ROBINA 141 141.6 140.5 143.6 139.8 141 1882200 265358712 VITARICH 1.12 1.14 1.12 1.17 1.12 1.13 6174000 7056300 CONCRETE A 59.25 66 59.1 66.9 59.1 66.9 30 1851 CONCRETE B 59.6 62 59.55 62 59.55 62 450 26935 CEMEX HLDG 1.41 1.42 1.38 1.43 1.36 1.42 3371000 4,685,320( EAGLE CEMENT 11.18 11.22 11.18 11.6 11.18 11.22 154700 1745706 EEI CORP 8.2 8.25 8.3 8.3 8.2 8.2 485400 3,980,310( HOLCIM 12.9 13.48 12.9 13.48 12.5 13.48 283500 3685690 MEGAWIDE 13.14 13.2 13.8 13.8 12.98 13.2 2206700 29185368 PHINMA 9.4 9.68 9.5 9.68 9.4 9.68 3300 31068 TKC METALS 0.85 0.89 0.85 0.9 0.84 0.89 57000 49740 VULCAN INDL 0.98 0.99 0.93 0.99 0.92 0.99 999000 969660 CHEMPHIL 185 226.8 227 227 226.8 226.8 20 4538 CROWN ASIA 2.05 2.09 2.05 2.05 2.05 2.05 39000 79950 EUROMED 3.06 3.07 3.34 3.62 3.05 3.07 9778000 32757180 LMG CHEMICALS 4.7 5.09 4.68 4.9 4.68 4.9 3000 14480 MABUHAY VINYL 3.1 3.21 3.25 3.25 3.2 3.23 15000 48140 PRYCE CORP 4.8 4.96 4.8 4.99 4.8 4.99 2000 9790 CONCEPCION 28.9 31.4 28.85 28.85 28.85 28.85 600 17310 GREENERGY 1.38 1.4 1.36 1.44 1.36 1.4 979000 1359120 INTEGRATED MICR 4.72 4.73 4.57 4.79 4.57 4.73 1703000 8052470 IONICS 1.15 1.17 1.15 1.17 1.15 1.17 24000 28020 SFA SEMICON 1.07 1.08 1.05 1.15 1.02 1.08 964000 1048620 CIRTEK HLDG 7 7.01 6.71 7.3 6.69 7.01 1043300 7355180

-4015040 -5900 -33288415 -20802600 -2209065 -38493292 2878300 -688280 -198406 -9665625 905 176262 -2669590 7426 -86784 4829212 -587404 -1444300 525950 -39226687 -405175 -81530 1610860 1,608,405.9997) -8050 -1170 -160334347 -194450 1,215,530.0003) 278592 3,879,419.9999) -873006 -13646632 -49000 35030 -41660 17760 -3350440 -22200 53117

HOLDING & FRIMS ABACORE CAPITAL 0.73 0.74 0.76 0.76 0.72 0.73 7757000 5690690 ASIABEST GROUP 9.7 9.96 9.99 9.99 9.53 9.7 44200 428964 AYALA CORP 696.5 697 693 705 693 697 440330 307198895 ABOITIZ EQUITY 44.5 44.8 46.7 46.9 44.5 44.5 1401600 63354165 ALLIANCE GLOBAL 10.02 10.06 10.04 10.06 9.92 10.02 16577400 165922031 AYALA LAND LOG 2.14 2.19 2.19 2.21 2.1 2.19 1780000 3886380 ANSCOR 6.1 6.36 6.36 6.56 6.1 6.1 24600 151294 ANGLO PHIL HLDG 0.66 0.67 0.66 0.67 0.66 0.67 81000 53940 ATN HLDG A 0.89 0.9 0.89 0.9 0.88 0.89 431000 383140 COSCO CAPITAL 6.21 6.28 6.15 6.3 6.15 6.28 936600 5824516 DMCI HLDG 5.24 5.26 5.21 5.3 5.19 5.24 5908200 31011800 FORUM PACIFIC 0.219 0.235 0.218 0.218 0.218 0.218 10000 2180 GT CAPITAL 722.5 725 715 728 715 722.5 82880 59860840 JG SUMMIT 69.25 69.9 69.4 71 69.05 69.9 2129960 149198508 JOLLIVILLE HLDG 5.8 6.51 5.8 6.52 5.8 6.51 141400 919743 KEPPEL HLDG A 5.21 6.25 5.21 5.21 5.21 5.21 9600 50016 LODESTAR 0.48 0.49 0.49 0.49 0.48 0.485 140000 67900 LOPEZ HLDG 3.87 3.95 4.17 4.17 3.81 3.98 331000 1324430 LT GROUP 8.7 8.89 8.7 8.7 8.6 8.7 2423500 21,041,321( METRO PAC INV 3.07 3.09 3.01 3.13 2.98 3.07 56638000 173705140 PACIFICA HLDG 4.05 4.5 4 4 4 4 6000 24000 SYNERGY GRID 155 170 154.3 170 152.5 170 2210 340694 SM INVESTMENTS 987 990 970.5 987 969.5 987 219920 216461220 SAN MIGUEL CORP 127.3 131.9 129.9 131.9 125.4 131.9 214880 27772077 SOC RESOURCES 0.77 0.81 0.79 0.82 0.79 0.82 187000 149700 TOP FRONTIER 152.1 163 163.5 163.5 151 163 6160 972567 WELLEX INDUS 0.228 0.229 0.224 0.229 0.216 0.228 2440000 555660 ZEUS HLDG 0.174 0.188 0.171 0.19 0.17 0.188 7000000 1252750

73400 -44379670 -32688530 37835947 325410 93768 1517514 -17394646 -2180 8691380 -61178585.5 -245000 3,791,074.9999) -91390060 4433 -80900360 -9653633 -713901 -2160 -121410

PROPERTY ARTHALAND CORP 0.76 0.77 0.76 0.76 0.76 0.76 133000 101080 AYALA LAND 39.95 40.4 38.5 40.4 38.5 40.4 48181500 1901627710 ARANETA PROP 1.5 1.66 1.52 1.52 1.52 1.52 1000 1520 BELLE CORP 1.51 1.52 1.49 1.61 1.49 1.52 3550000 5475010 A BROWN 0.59 0.6 0.59 0.61 0.57 0.59 501000 294340 CITYLAND DEVT 0.79 0.8 0.79 0.8 0.79 0.8 23000 18300 CEB LANDMASTERS 4.48 4.51 4.55 4.55 4.45 4.48 1052000 4718830 CENTURY PROP 0.48 0.49 0.48 0.495 0.47 0.48 4850000 2331250 CYBER BAY 0.33 0.34 0.325 0.34 0.32 0.33 980000 330150 DOUBLEDRAGON 17 17.1 17.2 17.6 16.5 17 450900 7625070 DM WENCESLAO 8.9 8.98 9 9 8.98 8.98 2540700 22815688 EMPIRE EAST 0.37 0.38 0.375 0.38 0.37 0.38 900000 333750 EVER GOTESCO 0.1 0.11 0.08 0.11 0.08 0.11 20000 1900 FILINVEST LAND 1.26 1.27 1.28 1.3 1.26 1.26 18761000 23812180 GLOBAL ESTATE 0.99 1.01 1.01 1.01 0.99 0.99 297000 294130 8990 HLDG 14.66 14.68 14.68 14.68 14.66 14.66 1023200 15010176 PHIL INFRADEV 0.99 1.01 0.98 1.01 0.97 0.99 950000 942470 CITY AND LAND 0.71 0.77 0.77 0.77 0.77 0.77 9000 6930 MEGAWORLD 3.38 3.41 3.45 3.54 3.38 3.38 43444000 149415730 MRC ALLIED 0.188 0.19 0.191 0.191 0.187 0.19 6970000 1316900 PHIL ESTATES 0.405 0.435 0.435 0.435 0.395 0.405 730000 303450 PRIMEX CORP 2.05 2.06 2.05 2.08 2.05 2.06 188000 385490 ROBINSONS LAND 23.4 24.1 23.7 24.95 23.4 23.4 1276000 30256450 PHIL REALTY 0.29 0.32 0.29 0.29 0.29 0.29 200000 58000 ROCKWELL 1.95 2.05 1.9 1.94 1.9 1.94 10000 19290 SHANG PROP 3 3.08 3.09 3.09 3.09 3.09 4000 12360 STA LUCIA LAND 2.39 2.4 2.4 2.41 2.4 2.4 139000 333630 SM PRIME HLDG 39.05 39.2 38.8 39.35 38.7 39.05 14296200 558813770 VISTAMALLS 4.92 4.95 5 5.17 4.91 4.95 152300 765504 SUNTRUST HOME 1.64 1.65 1.61 1.67 1.55 1.65 2513000 4085370 VISTA LAND 6.51 6.6 6.7 6.75 6.6 6.6 2387100 15849175

-76000 -90795895 -872140 59000 7900 -1079680 295850 12800 841858 -4490 -259000 -800 -13156000 6930 -31028640 -11340 -43500 -26669.9999 -17632275 12360 -177342950 -4472932

SERVICES ABS CBN 23.5 23.55 24.5 24.85 23.3 23.5 3009100 72663200 GMA NETWORK 5.25 5.34 5.34 5.35 5.25 5.34 251100 1328669 MANILA BULLETIN 0.415 0.425 0.435 0.44 0.415 0.425 380000 159900 GLOBE TELECOM 1830 1831 1826 1863 1812 1830 42560 77885930 PLDT 999.5 1000 1000 1002 998 999.5 102230 102220075 APOLLO GLOBAL 0.043 0.046 0.044 0.046 0.043 0.046 2500000 110100 DFNN INC 3.72 4.09 4.09 4.09 4.09 4.09 5000 20450 ISLAND INFO 0.098 0.1 0.096 0.102 0.096 0.1 560000 55750 ISM COMM 1.68 1.69 1.73 1.74 1.64 1.69 22873000 38690910 NOW CORP 2.02 2.03 2 2.04 1.97 2.03 815000 1631520 TRANSPACIFIC BR 0.215 0.225 0.23 0.231 0.21 0.225 1940000 420610 PHILWEB 2.58 2.6 2.68 2.77 2.58 2.6 1830000 4864880 2GO GROUP 7.48 8.1 7.46 7.48 7.46 7.48 4600 34371 ASIAN TERMINALS 16.8 18.5 17.5 18.58 17.5 18.5 7000 124706 CHELSEA 3.78 3.8 3.84 3.91 3.76 3.8 254000 973520 CEBU AIR 76.85 76.9 76.8 76.9 76.2 76.9 295220 22565752.5 INTL CONTAINER 106 106.5 103.6 107.8 103.6 106 2245430 239028380 LBC EXPRESS 12 12.2 12.9 12.9 12.9 12.9 100 1290 LORENZO SHIPPNG 0.86 0.9 0.93 0.93 0.93 0.93 1000 930 MACROASIA 9.19 9.2 9.45 9.7 9.17 9.2 4015200 37963406 METROALLIANCE A 2.2 - 1.47 2.2 1.45 2.2 31416000 60548760 METROALLIANCE B 2.04 - 1.5 2.04 1.5 2.04 1205000 2281430 PAL HLDG 6.95 7 6.95 7 6.95 7 2100 14625 HARBOR STAR 1.04 1.05 1.03 1.05 1.01 1.05 927000 946410 ACESITE HOTEL 1.35 1.43 1.34 1.4 1.33 1.33 77000 106330 BOULEVARD HLDG 0.04 0.041 0.042 0.042 0.039 0.04 24900000 998700 WATERFRONT 0.55 0.56 0.54 0.56 0.54 0.56 267000 145520 FAR EASTERN U 890 900 890 890 890 890 210 186900 IPEOPLE 7.6 7.85 8.87 8.87 7.53 7.6 71000 536914 STI HLDG 0.55 0.56 0.55 0.56 0.55 0.55 1565000 873720 BERJAYA 2.65 2.68 2.67 2.7 2.64 2.65 228000 603160 BLOOMBERRY 8.43 8.6 8.33 8.6 8.3 8.6 1970500 16724500 PACIFIC ONLINE 1.99 2 1.88 2 1.88 2 31000 60590 LEISURE AND RES 1.86 1.96 1.89 1.96 1.85 1.96 165000 307020 PREMIUM LEISURE 0.52 0.53 0.53 0.54 0.53 0.53 18575000 9886000 ALLHOME 9.8 9.94 10 10.1 9.8 9.8 562700 5573569 METRO RETAIL 1.65 1.67 1.67 1.69 1.65 1.65 292000 486360 PUREGOLD 37.55 38 38.5 38.5 37.15 38 188500 7130975 ROBINSONS RTL 69.9 70.55 70.55 70.55 69.9 70.55 153130 10766825 PHIL SEVEN CORP 150 152 140 152 140 150 30750 4616190 SSI GROUP 1.98 2.02 2 2.04 1.93 2.02 391000 772670 WILCON DEPOT 18.36 18.48 18.48 18.56 18.34 18.36 1309400 24182786 APC GROUP 0.415 0.42 0.4 0.43 0.39 0.42 18060000 7382250 EASYCALL 6.77 7 6.71 7.46 6.71 7 5600 38317 GOLDEN BRIA 410 422.8 413 429.8 404.2 413 72250 30145822 PRMIERE HORIZON 0.29 0.295 0.285 0.295 0.28 0.29 3310000 953900 SBS PHIL CORP 8.8 8.9 8.9 8.9 8.76 8.9 38700 341055

-23273345 -83881980 -970 -75400 2680 -0 -6821520 -42722305 -4887331 -101950 10425 -350660 -1000 -560000 -7950 611515 -406010 -209160 -3114605 -5012434.5 525090 -5140 -2923754 -212000 -

MINING & OIL ATOK 10.94 11.42 11.46 11.46 11.46 11.46 200 2292 APEX MINING 1.01 1.02 1.04 1.04 1.01 1.01 1611000 1636460 -283620 ABRA MINING 0.0012 0.0013 0.0012 0.0013 0.0012 0.0013 67000000 81800 -1200 ATLAS MINING 2.2 2.3 2.39 2.39 2.39 2.39 2000 4780 COAL ASIA HLDG 0.27 0.275 0.27 0.27 0.27 0.27 190000 51300 CENTURY PEAK 2.8 2.9 2.82 2.94 2.79 2.8 601000 1760430 1648080 DIZON MINES 6.61 6.71 6.53 6.75 6.53 6.61 500 3303 FERRONICKEL 1.16 1.18 1.16 1.19 1.16 1.16 435000 508250 -41840 GEOGRACE 0.199 0.202 0.198 0.202 0.198 0.199 310000 62080 -1980 LEPANTO A 0.09 0.093 0.096 0.096 0.09 0.09 910000 83250 LEPANTO B 0.09 0.095 0.091 0.095 0.09 0.095 480000 43370 -1820 MANILA MINING B 0.0073 0.009 0.0073 0.0073 0.0073 0.0073 2000000 14600 MARCVENTURES 0.67 0.7 0.68 0.7 0.61 0.67 252000 163830 NIHAO 0.95 1 1 1 0.96 1 22000 21310 -2000 NICKEL ASIA 2.43 2.45 2.39 2.45 2.39 2.43 2978000 7253930 1343510 ORNTL PENINSULA 0.58 0.62 0.64 0.64 0.59 0.62 103000 62000 2950 PX MINING 2.94 2.97 3 3.02 2.92 2.95 348000 1027640 SEMIRARA MINING 19.32 19.5 19.28 19.5 19.16 19.5 1404900 27158334 -7567588 ACE ENEXOR 6.4 6.49 6.45 6.8 6.38 6.49 73300 474606 -60947 ORNTL PETROL A 0.0096 0.0099 0.0096 0.0096 0.0095 0.0096 4000000 38200 PHILODRILL 0.01 0.011 0.01 0.011 0.01 0.01 51500000 527100 -2000 PXP ENERGY 6.88 6.9 6.87 6.88 6.8 6.88 200900 1373482 91996 PREFFERED AC PREF B1 500.5 501 501 501 501 501 410 205410 ALCO PREF B 100.2 104.7 100.2 100.2 100.2 100.2 200 20040 AC PREF B2R 500 504.5 503 504.5 503 504.5 6170 3108405 3108405 DD PREF 101.1 102 101 102 101 102 49510 5048160 FGEN PREF G 107 108.2 107 107 107 107 7010 750070 FPH PREF C 490 502 490 490 490 490 10 4900 GLO PREF P 502 502.5 502 502 502 502 120 60240 MWIDE PREF 100 100.1 100.1 100.5 100 100.1 77860 7791788 PNX PREF 3B 105.6 109.7 105 105 105 105 200 21000 PNX PREF 4 1033 1050 1050 1050 1031 1035 6660 6947680 PCOR PREF 2B 1010 1036 1007 1007 1007 1007 10 10070 PCOR PREF 3A 1042 1065 1050 1060 1050 1060 3000 3165000 PCOR PREF 3B 1050 1080 1050 1050 1050 1050 2400 2520000 SMC PREF 2C 77.7 77.95 77.65 77.75 77.5 77.7 22770 1769118 SMC PREF 2D 75.1 75.65 75.2 75.65 75.05 75.65 11110 834771.5 SMC PREF 2F 77 77.1 77.1 77.1 77 77 22180 1707925 SMC PREF 2G 75.6 75.9 75.95 75.95 75.95 75.95 10 759.5 SMC PREF 2H 76.1 76.3 76.1 76.1 76.1 76.1 17070 1299027 SMC PREF 2I 76 76.5 76 76 76 76 5210 395960 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 19.38 19.5 18.3 20.2 18.22 19.38 2209300 42714930 10078074 GMA HLDG PDR 5.07 5.1 5.1 5.11 5.06 5.07 2822900 14,391,718( 13,247,795.9996) WARRANTS LR WARRANT 1.01 1.06 1.01 1.07 1 1.06 107000 107390 SMALL & MEDIUM ENTERPRISES ITALPINAS 2.76 2.78 2.82 2.88 2.7 2.76 218000 604090 77760 KEPWEALTH 8.4 8.45 8.2 8.4 8.2 8.4 80500 672464 XURPAS 0.78 0.79 0.77 0.8 0.76 0.79 655000 509530 EXHANGE TRADE FUNDS FIRST METRO ETF 105.3 105.4 105.3 105.5 105 105.3 28630 3014409 -191952

www.businessmirror.com.ph

Holcim income rises 41% despite sales drop in ’19

By VG Cabuag

@villygc

PERATIONAL efficiency allowed Holcim Philippines to post a 41-percent increase in 2019 net income to P3.58 billion, from the P2.54 billion in 2018 despite a decline in sales. The company, which is being bought by conglomerate San Miguel Corp., said net sales for the full year fell 6 percent to P33.48 billion from the previous P35.62 billion, mainly on slow construction activity during the first half of 2019. “Our sustained focus on operational efficiency and cost discipline for the past years lifted our bottom line. With the completion of our capacity expansion projects, commer-

cial innovations and stronger cost and efficiency mindset, Holcim Philippines is well positioned to deliver sustainable and healthy growth to shareholders and continue our support to this country’s development,” John Stull, the company’s president and CEO, said in a statement. Sales for the fourth quarter alone rose 17 percent to P9.8 billion from the previous P8.35 billion, while net income reached P1.71 billion or

more than double than the previous P804.58 million. “A more favorable product mix and the steady contribution of its aggregates unit also helped business performance,” the company said. Last year, Holcim Philippines completed upgrades to its plants in La Union, Bulacan and Davao, which raised annual cement production capacity to 10 million metric tons. It also launched a new product, a blended cement designed as a better alternative to ordinary portland cement for roads and infrastructures. Sales from the new product, called Solido, became a significant portion of Holcim’s product mix in 2019 as customers shifted to this option, the company said. The company also completed enhancements to its digital ordering platform to further ease customer transactions and expand its reach. First Stronghold Cement Industries Inc., a unit of San Miguel, is

buying some 85 percent of Holcim Philippines, a unit of LafargeHolcim Ltd., for about $2.5 billion. The deal is still to hurdle the approval from the country’s anti-trust body, the Philippine Competition Commission, which already issued its concerns about the deal. In its second review, the PCC found that the deal will eliminate competition in the gray cement market in northwest Luzon, composed of the provinces of La Union, Benguet and Pangasinan. The PCC has included the cross ownership of Northern Cement, a company led by Eduardo M. Cojuangco Jr., and Eagle Cement Corp. Cojuangco is the CEO of San Miguel, while Eagle Cement is chaired by Ramon S. Ang, the conglomerate’s president and COO. San Miguel is also majority owned by Top Frontier Investment Holdings Inc., which also owns 30 percent of Northern Cement.

EDC eyeing to build binary plants T

HE Energy Development Corp. (EDC) is targeting to put up binary plants in each of its existing geothermal plants in the country to boost its power-generation capacity by the end of the year. A unit of the Lopez-owned First Gen Corp. which has the largest portfolio of power plants using clean and renewable technology, EDC is a geothermal energy industry pioneer in the Philippines. The company said the binary plants will allow the company to enhance its power-generation capacity without building new power plants outside existing geothermal concessions. EDC currently operates geothermal plants in Kananga and Ormoc Leyte; Valencia in Negros Oriental; Bacon in Sorsogon and Manito in Albay; and Kidapawan in North Cotabato. Interviewed at the sidelines of the 3rd Philippine Environmental Summit in Cagayan de Oro City, Allan V. Barcena, head of Corporate Social Responsibility and Frances

L. Ariola, specialist Corporate Communications of EDC bared that this year, the company is focusing on binary plants. “When you say binary plants, these are low-capacity plants with 5 to 20 megawatts. They are easy to set up,” said Barcena. “We plan to have one per site. The source of binary plants is geothermal steam. We are now complying with the permit requirements.” Compared to big capacity conventional power plants with a capacity of 100 megawatts or more, binary plants do not need huge investments, as these are located inside existing geothermal concessions. Barcena explained that most of the remaining expansion areas for geothermal energy in the Philippines are inside Protected Areas. The permitting process for development projects in Protected Areas are “very tedious,” especially because existing law prohibits disruption of ecosystems and wildlife that thrives in these areas that are set aside for conservation. Jonathan L. Mayuga

‘Sustainability at heart of Meralco operations’

HE Manila Electric Company (Meralco) has established a Sustainability Office (SO) as an affirmation of its commitment to sustainability as core to its strategy and operations. “With the establishment of the SO, we have affirmed our commitment to sustainability as front and center to our business, as core to the company’s strategy and operations. Given this, we have identified four areas we will focus on as we drive this sustainability agenda,” said Meralco Chief Sustainability Officer Raymond Ravelo. The four focus areas of Meralco’s sustainability agenda include Planet, People, Power and Prosperity. Under “Planet,” Ravelo said Meralco would continue to develop and execute programs to help preserve and protect environment. On “People,” Ravelo said this captures Meralco’s effort to embed a sustainable mindset within the organization and put these principles into practice.

Ravelo said that a big part of the company’s sustainability program, which is under “Power,” is ensuring that all unserved and underserved areas within its franchise are energized. For “Prosperity,” Ravelo said this could be achieved by ensuring that all decisions as a company, initiatives and investments are guided and balanced by sustainability principles. Starting this year, Meralco’s sustainability initiatives will be driven by an overarching program called Powering the Good Life in which five priority areas have been identified. “The first 3 are PLANET related—direct emissions reduction, resource efficiency and waste management. The 4th area, Community Electrification captures our POWER initiative. And finally Workplace Excellence will house our PEOPLE programs,” he said. Meralco, he said, has launched a number of projects under each of these pillars. Lenie Lectura

MUTUAL FUNDS

February 27, 2020

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 224.85 -15.87% -3.83% -4.32% -10.73% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.1863 -26.38% -5.26% -6.05% -14.16% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.1254 -24.83% -8.08% -6.91% -15.03% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.782 -17.89% N.A. N.A. -12.83% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.7587 -12.42% N.A. N.A. -10.67% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 4.7618 -14.48% -2.59% -4.03% -10.63% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.7514 -15.11% -6.52% N.A. -11.97% MBG EQUITY INVESTMENT FUND, INC. -A 93.38 -25.33% N.A. N.A. -9.63% PAMI EQUITY INDEX FUND, INC. -A 45.2396 -13.83% -2.04% N.A. -11.78% PHILAM STRATEGIC GROWTH FUND, INC. -A 476.2 -13.17% -2.57% -3.74% -10.62% PHILEQUITY ALPHA ONE FUND, INC. -A,D,8 0.9316 N.A. N.A. N.A. -9.56% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.1484 -12.98% -2.09% -2.81% -10.76% PHILEQUITY FUND, INC. -A 33.7179 -13.46% -1.2% -2.68% -11.03% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,1 0.9 -13.66% N.A. N.A. -11.6% PHILEQUITY PSE INDEX FUND INC. -A 4.6112 -13.14% -1.35% -2.13% -11.72% PHILIPPINE STOCK INDEX FUND CORP. -A 769.89 -13.1% -1.38% -2.29% -11.72% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7269 -20.57% -5.13% -6.11% -14.62% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.6922 -14.84% -1.97% -2.98% -12.28% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8836 -13.3% -1.55% N.A. -11.71% UNITED FUND, INC. -A 3.2715 -11.66% 0.27% -1.28% -10.45% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 103.3558 -12.74% -0.71% -1.37% -11.63% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9631 -4.83% 1.68% -1.05% -6.35% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.3622 8.9% 7.52% N.A. -1.2% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.5098 -12.61% -4.19% -5.04% -3.39% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.0488 -11.23% -3.43% -2.99% -6.07% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.4816 -6.44% -0.28% -3.24% -5.7% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,5 0.2038 N.A. N.A. N.A. -10.81% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.885 -1.54% 0.98% -0.6% -3.98% PAMI HORIZON FUND, INC. -A 3.5746 -2.01% -0.47% -1.79% -5.66% PHILAM FUND, INC. -A 15.9878 -3.15% -0.56% -1.86% -5.74% SOLIDARITAS FUND, INC. -A 2.0027 -6.88% -0.9% -1.25% -5.79% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.5692 -7.13% -0.37% -1.7% -7.62% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,2 0.957 -3.83% N.A. N.A. -5.78% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,2 0.9074 -8.57% N.A. N.A. -8.93% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,2 0.8975 -9.52% N.A. N.A. -9.64% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8849 -9.01% -1.51% -3.22% -9.22% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03937 10.16% 3.66% 2.37% 2.98% PAMI ASIA BALANCED FUND, INC. -A $1.0067 2.13% 2.67% 0.07% -3.01% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.9104 7.96% 6.24% 3.43% -0.01% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,7 $1.1374 6.69% 3.86% N.A. 0.76% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 359.6 4.04% 2.76% 2.31% 0.5% ATRAM CORPORATE BOND FUND, INC. -A 1.9096 2.49% 0.49% -0.53% 0.4% COCOLIFE FIXED INCOME FUND, INC. -A 3.1403 4.92% 5.17% 5.16% 0.77% EKKLESIA MUTUAL FUND INC. -A 2.2441 4.46% 2.27% 1.95% 0.86% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3701 6.42% 2.27% 1.4% 0.47% PHILAM BOND FUND, INC. -A 4.4109 12.46% 2.48% 1.73% 0.87% PHILEQUITY PESO BOND FUND, INC. -A 3.7984 6.17% 2.95% 1.36% 0.27% SOLDIVO BOND FUND, INC. -A 0.9763 7.31% 1.51% 0.37% 1.24% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.099 9.33% 4.41% 2.56% 0.75% SUN LIFE PROSPERITY GS FUND, INC. -A 1.7058 8.39% 3.74% 1.99% 0.28% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $472.29 4.59% 2.73% 2.69% 0.87% ALFM EURO BOND FUND, INC. -A Є221.25 3.01% 1.7% 1.31% 0.69% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2198 5.94% 3.19% 2.53% 1.04% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.026 4% 1.45% 1.28% 0.78% PAMI GLOBAL BOND FUND, INC -A $1.1168 6.27% 1.55% 0% 1.97% PHILAM DOLLAR BOND FUND, INC. -A $2.4774 11.32% 4.08% 3.1% 3.06% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0609574 5.93% 2.39% 1.89% 1.07% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.2808 11.85% 3.76% 2.97% 3.32% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 126.53 3.87% 2.97% 2.25% 0.6% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,3 1.032 2.9% N.A. N.A. 0.56% PHILAM MANAGED INCOME FUND, INC. -A 1.2598 6.12% 3.14% 1.72% 0.25% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2708 3.63% 2.96% 2.45% 0.49% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0403 2.01% N.A. N.A. 0.3% FEEDER FUND PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -B,D,4 $0.98 N.A. N.A. N.A. -1.01% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU). 1 - LAUNCH DATE IS JANUARY 3, 2019. 2 - LAUNCH DATE IS JANUARY 28, 2019. 3 - LAUNCH DATE IS FEBRUARY 1, 2019. 4 - LAUNCH DATE IS NOVEMBER 15, 2019. 5 - LAUNCH DATE IS SEPTEMBER 28, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.). 7 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST OCTOBER 9, 2019. 8 - LAUNCH DATE IS DECEMBER 09, 2019. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa. com.ph to see the latest NAVPS/NAVPU."

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Cebuana infuses tech into insurance business By Bernadette D. Nicolas @BNicolasBM

ICROFINANCIAL services provider Cebuana Lhuillier Services Corp. recently announced the transformation of its insurance arm into a “future-ready” Cebuana Lhuillier Insurance Brokers Inc. (CLIB) that the company said will give more Filipinos access to affordable insurance products. At the same time, Cebuana Lhuillier announced it will offer an array of life and nonlife insurance products made possible by partnerships with a number of insurance providers and accessible through the company’s digital platforms. Cebuana Lhuillier President and CEO Jean Henri D. Lhuillier is hoping the move would enable them to grow their client base to 25 million within three years to five years from the current 11 million, especially as they roll out more insurance products. “Today marks a new and exciting chapter in the history of Cebuana Lhuillier as we continue to champion financial inclusion—no longer just an agent but a broker—providing Filipinos, regardless of their socioeconomic class, access to insurance products that fit their needs, financial capabilities and at the comforts of their own home,” Lhuillier said. Data from the Insurance Commission showed 40 million or only 37 percent of the 105 million total population of the country is covered by insurance. For his part, Insurance Commission Microinsurance Division Manager Juan Paolo P. Roxas expressed confidence that the industry would be able to hit its target of growing the number of Filipinos covered by insurance to 50 million by 2022.

“I am optimistic and quite confident that by the year 2022, things are steady just the way they are [and] we can hit the target definitely,” Roxas, a lawyer, told reporters in an interview. Cebuana Lhuillier also unveiled its newest portfolio of personal, health, property, group, loan, and business and liability insurance products through CLIB. These include the following: CL Personal Accident Basic; CL Travel Prime; CL Pamilya Max; CL Health Dengue and Leptospirosis; CL Fire, Typhoon, Flood EQ Care; CL Drive Lite; CL Tourista Protect; CL Hotel Guest Care; CL Passenger Care; CL Employee Care Plus; CL MicroBiz Protek; CL Agricare; and, Cyber Insurance. A statement from the company said CLIB also aims to bring prospective insurance providers and buyers together through different “touch points,” including the eCebuana mobile application and a digital one-stop insurance shop allowing clients to compare the lowest prices of insurance offerings and monitor their insurance policies and claims in real-time. The insurance broker will also bring its partner products, along with Cebuana Lhuillier’s flagship “Protect Max,” to some of the country’s online stores. Aside from this, these insurance products will also be offered by CLIB in more than 2,500 Cebuana Lhuillier branches nationwide as well as through their 6,500 domestic partner outlets, giving their insurance partners a unique advantage of establishing their presence in most urban and rural communities, which is still considered a largely untapped insurance market.

AIME high in Melbourne

S an association executive, I get invited as a speaker or as a guest to international meetings, incentives, conventions and exhibitions, or MICE, events and trade shows. There are many such events worldwide, including here in our region. Aside from these meetings– ranging from small seminars to large conferences and exhibitions–most of these events have educational and networking programs for association professionals. One event that stands out for its content and format is the Asia-Pacific Incentives and Meetings Event (AIME) held annually in February in Melbourne, Australia, being owned by Melbourne Convention Bureau (MCB) and managed by Talk2 Media & Events. So when Talk2 Media & Events CEO Matt Pearce and Event Director Jay Martens invited me as a guest to join the first-ever, by-invitation only “Associations Roundtable,” which is built within this year’s Aime program, I readily accepted the invitation. The roundtable was meant to convene association leaders to discuss common challenges and opportunities for collaboration. Held on February 17, 2020 at the Melbourne Convention and Exhibition Center, the groundbreaking meeting had 34 other fellow association leaders from the region and beyond. My participation in the roundtable also afforded me to have an all-pass attendance to the MICE trade show, the knowledge exchange sessions, networking socials and the “Leaders Forum,” another by-invitation-only event where senior executives from convention bureaus, convention centers, industry suppliers, associations and media gathered to discuss the importance of the MICE sector to the global economy. All in all, it was a meaningful and impactful 3-day participation in “AIME 2020.” There were many takeaways related to associations that this space could not fill, so I am sharing below a few that I thought will be relevant: n Six marketplace realities did not exist 30 years ago: time (in the context of volunteer work time for members); value expectation (the perennial question, “What unique

Association World Octavio Peralta benefits does the association provide that are not available elsewhere?”); market structure (trend on consolidation and/or merger and niche and/ or specialization); generational differences (on the issue of millennials not joining associations); competition (from social media and non-traditional service providers); and, technology (mostly from Artificial Intelligence and other disruptive technologies). n The 20 marketing trends in 2020: human-centered marketing (storytelling, authenticity); customer journey mapping; events and activation versus logo (on sponsorship); micro-influencer; content marketing (e.g. blog, podcast); personalization; the old sales funnel is dead (the new marketing lifecycle is engage, engage, engage); audiences; pixels and re-targeting; vertical formats (for mobile phones); video and live; YouTube; LinkedIn Live; voice search; long-tail SEO (search engine optimization); visual search; direct mailing; customized apps (applications); machine learning and chatbots; digitizing the offline; tougher privacy laws; cookie policy and adblocking. There are many new developments and challenges that associations face today. One of the things that an association executive should do is to continue learning and to aim high to meet these challenges head on. Attending Aime has been very helpful. AIME will run again in Melbourne on February 22 to 24, 2021. The contributor, Octavio Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific, founder and CEO of the Philippine Council of Associations and Association Executives and president of the Asia-Pacific Federation of Association Organizations. The purpose of Pcaae is to advance the association management profession and to make associations well-governed and sustainable. The Pcaae enjoys the support of Adfiap, the Tourism Promotions Board, and the Philippine International Convention Center. E-mail: obp@adfiap.org

Friday, February 28, 2020 B3

Amro: Hanjin closure’s dent on bad loan ratio minimal

HE bankruptcy of Hanjin Heavy Industries and Construction Co.-Philippines has put a dent on the local banking system’s bad loan ratio in 2019; but a regional think tank said the Philippines banking sector will remain in the pink of health in 2020. In the results of its recent “Annual Consultation Report on the Philippines,” the Asean+3 Macroeconomic Research Office (Amro) said loan asset quality indicators deteriorated somewhat as nonperforming loans coverage ratio declined from around 110 percent to close 90 percent. Non-performing loans ratio also rose from 1.8 percent at the end of 2018 to 2.2 percent as of end-September 2019. “The increase in NPL was due mainly to stricter loan classification

requirements and the bankruptcy of Hanjin Heavy, the Philippine subsidiary of a major South Korean shipbuilder,” a statement by the policy advisor to members in the Association of Southeast Asian Nations (Asean) Plus Three region said. “Although the Philippine banks’ exposure to Hanjin is relatively small, some banks may have to increase their loan loss provisions,” added the organization that’s composed of the 10 member states of Asean and China and Korea.

Hanjin filed for corporate rehabilitation in January 2019, as it struggled to pay $412 million in loans to five domestic banks. Otherwise, Amro’s annual assessment showed the banking system continued to be resilient amidst turbulent waters in 2019. Amro said banking metrics remain adequate and credit growth will remain in line with expectations. Despite continued rapid credit expansions over the past few years, the Amro said the capitalization of the Philippine banking system remains broadly stable. This, according to the think tank, reflects continued supervisory efforts and shareholders’ strong financial support. The banking sector capital adequacy ratio on a solo basis has consistently stood above 15 percent since 2011. Overall liquidity in the banking system remains adequate. The liquidity coverage ratio and net stable funding ratio of universal and commercial banks stayed at 173.1 percent and 130.2 percent on a solo basis respectively, as of end-

June 2019, while loan-to-deposit ratio hovered around 80 percent. Total loan growth declined to 7.4 percent in October then edged up to 8.1 percent and 8.8 percent in November 2019 and December 2019, respectively. The weakness in credit growth was mainly driven by sluggish corporate borrowing, while household borrowing has picked up after the “cliff effects” of front-loaded auto sales before the tax changes. “The deceleration of corporate loans was most pronounced in manufacturing, wholesale and retails, and transportation and storage, owing to higher interest rates and tepid domestic demand. In contrast, lending to construction and real estate has remained strong, likely supported by the ongoing boom in the real estate sector,” Amro said. “Looking ahead, credit growth is expected to continue to pick up as easier monetary conditions gradually translate into lower borrowing costs, and faster government spending boosts investment demand,” the international organization added.

Canadian insurer’s PHL unit launches new product

HE Manufacturers Life Insurance Co. (Philippines) Inc. (Manulife Philippines) launched a new single-pay life insurance product that provides life insurance, critical illness protection, investment return, as well as potential earnings. The company said the new insurance policy focuses on “shielding Filipino individuals and their families from unwelcome and unforeseen expenses through life insurance coverage and critical illness protection while keeping their money safe through a guaranteed return of

their premium.” “One can also boost his or her earnings’ potential through exposure to Manulife’s wide range of funds,” the company added. For a minimum investment of P250,000 for seven years or at least P150,000 or more for 10 years, one can already avail the insurance policy. At the end of the policy period, his initial premium will be returned in full, together with any gains on his investment. Manulife PHL Senior Vice President and Chief Marketing Officer Melissa Angela L. Henson said this

policy is for people who want to “secure their big life goals, whether they want to set up a nest egg, parents who want to secure their children’s education, individuals who want to retire comfortably and those who want to leave funds behind for their families.” Henson said the key features of the product are “its life insurance and critical illness coverage.” “Medical emergencies and other unforeseen events can quickly drain your life savings,” she was quoted in a statement as saying. Henson said the firm’s new product, which it

calls “Goalkeeper,” “provides critical illness coverage equivalent to 125 percent of the policy premium while keeping your initial premium intact.” “So if illness strikes this benefit will allow you and your family to focus on healing rather than the financial stress that can come with treating illness,” she added. Manulife Philippines is a wholly owned domestic subsidiary of Manulife Financial Corp., a multinational insurance company and financial services provider headquartered in Toronto, Ontario, Canada. Bernadette D. Nicolas

Global bankers throw out basics of deal-making in age of outbreak

T sounds like advice for averting Wall Street deals: Don’t travel. Don’t meet clients. Don’t even shake hands. Yet, those instructions are now flowing through the global financial industry as the coronavirus spreads. On a growing number of continents, banking and investing professionals are preparing for the possibility they will soon be working from home. Industry conferences for drumming up business are thinning out, moving online or facing cancellation. Sales of some new securities are sputtering. Behind the scenes, bank leaders are dusting off regulatory plans for keeping “critical operations” open through a potential pandemic. Some describe things like how far apart to move traders along desks, or how many may work remotely. Bank branches may be able to keep their counters open, thanks to the bulletproof glass meant to stop robberies. Financial firms that normally take pride in touching industries around the world are realizing they will be on all the front lines if governments fail to contain the virus. As outbreaks worsen in parts of Asia and pop up across Europe, bankers from top financial hubs to midsize cities are trying to reinvent on the fly how they’ll do business, anticipate how central banks may react and assess their clients’ preparedness and potential needs. “I’ve spent the last two days in front of customers and I’ve gotten 10 different views on what’s gonna happen—from ‘buckle down, this is gonna be a six-month period of time’ to ‘this is an overreaction,’” said Ted Swimmer, head of capital markets at Citizens Bank. “I just don’t think there’s a playbook for what these things are.” Attendees at a derivatives conference in Frankfurt where Deutsche Bank AG Chief Financial Officer

THIS photo shows a man inside a bank. As countries in Asia and Europe report outbreaks, bankers from top financial hubs to midsize cities are said to be attempting to reinvent how they operate and to anticipate how central banks may react, as well as evaluate the preparedness and potential needs of their clients. BLOOMBERG NEWS

James von Moltke spoke had their body temperature measured by an infrared camera to check for symptoms. The organizers, a unit of Deutsche Boerse AG, noted that guests who traveled from China are obliged to respect a two-week quarantine. Venture capitalists are also taking precautions. Sequoia Capital elected to relocate an annual meeting that had been planned for New Delhi, said a person familiar with the matter. The new locale is in Half Moon Bay, California, about a 30-minute drive from the firm’s headquarters. The change was previously reported by the Wall Street Journal. Andreessen Horowitz, another top VC firm in Silicon Valley, recently posted a sign at its offices discouraging handshakes, citing the virus. Of course, executives working in Europe and the U.S. are just now confronting a situation that took shape in cities around China almost a month ago. In hubs like Hong Kong, denizens of the financial industry are all too familiar with working from

home while their kids pass time in the background.

Dark humor

NOW, in a growing number of countries across Asia, firms are banning non-essential travel and starting to take more drastic measures. In South Korea, where authorities are trying to contain the largest outbreak outside China, banks including UBS Group AG and Citigroup Inc. have begun to split workers among different locations to ensure business can continue. Precautions are also mounting in Europe. Commercial real estate firm Cushman & Wakefield said Wednesday that it decided to sit out the prominent MIPIM real-estate conference in the French resort town of Cannes next month over safety concerns tied to the virus. Meanwhile in Berlin, the world’s largest private equity and venture capital conference continued this week as a somewhat muted affair, rife with dark humor and hand sanitizer. A few big names never showed, and neither did some

attendees from Italy, the continent’s worst-hit country. In fact, a growing number of banks have banned travel to certain Italian cities including the financial hub of Milan. Goldman Sachs Group Inc., Deutsche Bank, Credit Suisse, UBS and Morgan Stanley are among those enacting at least some limits on travel in the country or encouraging employees to postpone visits. US regulators require banks to have a pandemic plan that allows them to keep critical operations going even if a large number of employees fall ill or have to care for family members. Regulators warn that a severe pandemic could lead to as much as 40 percent of staff being absent and that outbreaks can come in multiple waves that last months. Across the industry, firms are signaling that the virus has the potential to create significant disruptions in the coming year. Global behemoth Citigroup, merger advisory shop Evercore Inc. and private-equity giant KKR & Co. all mentioned the virus as a risk in annual regulatory filings this month. Standard Chartered Plc, the UK bank that gets the majority of its earnings from Asia, said Thursday the virus will erode revenue growth in 2020, and that it will no longer meet a key profitability goal for next year.

Silver linings

ALREADY, key financial-industry businesses are taking hits. Debt issuance in the $2.6 trillion international bond market, a key source of income for investment banks, came to a virtual standstill Wednesday as Wall Street faced its third straight day without any high-grade bond offerings and Europe’s bankers had their first day of 2020 without a deal. The silver linings aren’t that bright. Bloomberg News

B4 Friday, February 28, 2020

SSS welcomes newest members of the Social Security Commission

Comm. Norhata Alonto

TATE-RUN pension fund Social Security System (SSS) welcomes the appointment of (Ret.) Judge Manuel L. Argel, Jr. and Bai Norhata Macatbar-Alonto as the newest members of the Social Security Commission (SSC), the highest policy-making body of the Social Security System. Represent the Employers' and Workers' Groups of the SSC, respectively, both are armed with notable experience in public service. They will share in the responsibility of providing policy directions, monitoring and overseeing SSS management actions, among other duties as stated under the Republic Act No. 11199 or the Social Security Act of 2018. Prior to his appointment, Argel

Comm. Manuel Argel

practiced law in the private sector for 20 years before being appointed as a Regional Trial Court Judge for Laoag City where he served for another 20 years until his retirement in 2015. Aside from his extensive experience in the judicial branch, Argel has also served the legislative branch when he was elected in 1980 as a member of the Sangguniang Bayan of Vigan. He was given the Legislator’s Award by the City Government of Vigan in 2008 in recognition of his accomplishments as a former legislator of the city. Argel holds a Bachelor of Arts in Philosophy degree and Bachelor of Laws

degree from San Beda University. On the other hand, Alonto, a degree holder of Bachelor of Arts in Psychology from the Philippine Women’s University and Master of Arts in Psychology from the University of the Philippines, began her professional career as a guidance counselor and college instructor for the Mindanao State University. Before joining the SSS, she served as Presidential Assistant for Muslim Mindanao, Commissioner of the Presidential Commission for the Urban Poor, Board Member of the Autonomous Region in Muslim Mindanao Social Fund Board and Bataan Shipyard and Engineering Corporation, and Executive Assistant V and Focal Person for foreign-assisted development programs for the Bangsamoro of the Mindanao Development Authority. Alonto is currently the Regional Governor of the National Council of Women in the Philippines. Argel and Alonto will join Secretary of Finance Carlos G. Dominguez III (Chairperson), SSS President and Chief Executive Officer Aurora C. Ignacio (ViceChairperson), Secretary of Labor and Employment Silvestre H. Bello III (ex-officio member), and Commissioners Diana PardoAguilar, Anita Bumpus-Quitain, Michael G. Regino and Ricardo L. Moldez in the SSC.

Philippine College of surgeons launches three commissions

HE Philippine College of Surgeons (PCS), the Professional Regulations Commission-recognized umbrella organization of all surgical specialty societies in the country, launched in its 75thAnnual Clinical Congress three commissions as part of its commitment to the progressive realization of the Universal Health Care Act. The Commissions on Cancer, Trauma, and SURE (Surgery to Unserved Regions for Education) were launched during the four-day convention held in Mandaluyong City from December 1 to 4, 2019. This was attended by over a thousand surgeons of different surgical specialty from all over the Philippines, as well as international speakers and guests. As succinctly explained during the launch by PCS President Dr. George L. Lim, the Commissions are different from the existing Committees in the organization, in that their membership consists not only of Fellows of the College, but also other medical specialists, and even lay-persons. In the packed main ballroom of EDSA Shangri-La Hotel, the Commission Executive Directors then took turns introducing their respective commissionsand presenting their co-directors. The PCS Cancer Commission Also known as PCS CanCom, this quasiindependent body shall be governed by a separate nine- person Board of Directors, consisting of four PCS Fellows and five

non-PCS members. In consonance with the provisions of the Universal Health Care Law and the National Integrated Cancer Control Act, the PCS CanCom aims to “be the national leader in promoting value-based, high-quality cancer surgery services and resources,” to ensure the “availability and accessibility of quality cancer care, specifically cancer surgery, across all regions and sectors of Philippine society.” The PCS Trauma, Injury and Burn Care Commission The PCS Trauma, Injury and Burn Care Commission is also a quasi-independent body within the PCS, whose mission is “to propose policies, guidelines and standards on prevention, trauma system, hospital, rehabilitation care and MCIs, engaging all stakeholders in all efforts that will help save the lives andbenefit the Filipino people.” The PCS SURE Commission The PCS SURE Commission is a humanitarian arm created by PCS that will promote and coordinate surgical care, education, training, and research. This will make surgery equitable, available and accessible to the marginalized to address unmet surgeries and give quality surgery for all. The Commission has the following program pillars: Education and Training, Engagement and Outreach Services, Research / Quality Assurance, and Ways and means.

February is Heart Awareness Month Angioplasty offers renewed heart health

Rev. Fr. Walter Zerda

ARDIOVASCULAR disease or CVD is one of the leading causes of death in the Philippines and around the world. It has become increasingly important for Filipinos to prioritize their heart

health to avoid CVDs such as coronary artery disease or heart attacks. There are several risk factors for heart diseases including smoking, obesity, sedentary lifestyle, high cholesterol, uncontrolled blood pressure, and diabetes. However, heart problems can occur in even the healthiest of patients, too. For Rev. Fr. Walter Zerda, Servant General of the Pacem Missionaries in Binangonan Rizal, heart problems were the farthest thing from his mind when he began experiencing a painful twinge in his chest because he has been leading an active healthy lifestyle playing badminton and basketball. He was referred to Dr. Danilo Santos, Head of the DLSMC Catheterization Laboratory Unit for a

coronary angiogram. The diagnostics discovered two major blocks in his arteries. He soon went through coronary angioplasty. Angioplasty is the first and most recommended type of procedure for coronary artery disease if patients are viable candidates. If all goes well, a patient can go home in 12-24 hours after the catheter is removed. Fr. Walter said he felt immediate relief after the procedure and stayed in the hospital for a total of two days before being discharged. DLSMC CathLab Unit offers complete packages for coronary angiogram, coronary angioplasty, and pacemaker insertion. Contact 889-35762 ext. 3190 for more information.

Women overcome the obstacles of store closure through Coca-Cola's Sari-Sari Store Training and Access to Resources Program

N every community, stands a dependable sari-sari store – an icon of everyday Filipino living and one of the micro-enterprises that comprise of 88.45% of the total MSME’s in the country. Often run by hardworking nanays, the sari-sari store is an example of how Pinays contribute 35% to 40% to the Philippine economy. Despite these facts, sari-sari store and carinderia owners are not taken seriously as entrepreneurs and their support is often perceived as a ‘small’ contribution to the family income. This leads to the reality of the ‘sara-sara’ stores – sari-sari stores forced into closure because its owners are ill-equipped with the confidence and the know-how to handle numerous obstacles that

Sari-sari store owner Carmelita Aspiras overcame the challenges she faced in keeping her business afloat through the help of the STAR Program, and managed to help fund her youngest son’s college education.

come with the business. Lack of capital, rent and location problems, absence of assistance, are just some of the challenges that they experience. Coca-Cola Philippines' SariSari Store Training and Access

to Resources (STAR) Program in partnership with the Technical Education and Skills Development Authority (TESDA), encourages women to rewrite the scripts that society has written for them by unleashing their economic potential.

Learn best practices in Facilities and Maintenance Management

WELL-maintained property can enhance the “rent-ability” and “buy-ability” of your assets. Conversely, you become a victim of expensive repairs due to poor maintenance of your facilities and buildings. To help property owners, building administrators and managers on this, the Center for Global Best Practices will host a twoday special training entitled, Best Practices in Facilities and Maintenance Management to be held on March 11 & 12 at the EDSA Shangri-La Hotel, Mandaluyong City. The lecture is a presentation of the best practices on this topic that is applicable across different

industries including manufacturing, hospitality, BPO centers, schools, real estate property development including malls, condominiums, subdivisions, industrial estates, multifunctional buildings, and complexes regardless of its type, size and existing condition. Attendees will learn all the best practices in world-class integrated facilities maintenance and management to help developers, building owners, property administrators, village/ condominium managers and heads of engineering to optimize operational efficiency in the maintenance and management of their buildings and facilities, reduce disruptions and costs, and improve

compliance to pertinent codes, standards and regulatory statutes. Check www.cgbp.org, for a complete list of best practices programs. Call lines in Manila (+63 2) 8842-7148/ 59 and (+63 2) 8556-8968/ 69, in Baguio (+63 74) 423-2914, in Cebu (+63 32) 512-3106 or 07]. Engr. Efren G. Mañez will share his over 40 years of best practices experiences. His expertise and work engagements has brought him to many different parts of Southeast Asia and Dubai. Interested attendees are encouraged to avail of the early payment savings and group discounts for those registering 3 or more.

Sports

STADIUM seats are empty during the Korean Basketball League game between Incheon Electroland Elephants and Anyang KGC in Incheon on Wednesday. AP

BusinessMirror

| Friday, February 28, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

SPORTS BEAR VIRUS’S BRUNT

By Dennis Passa The Associated Press

ASEBALL and basketball played in empty stadiums. Soccer leagues delayed. Clubs left out of Asian competitions or matches relocated. And the rapidly spreading virus that has infected more than 81,000 people globally and left more than 2,750 dead, mostly in China, continues to threaten the Tokyo Olympics which begin July 24. The three biggest soccer leagues in Asia have gone into recess, as the governments of China, South Korea and Japan try to contain the fallout of the rapidly spreading virus. The surge of postponements of sports events has spread from China, where the outbreak started, to South Korea and Japan. Japan’s professional baseball league says it will play its 72 remaining preseason games in empty stadiums because of the threat of the spreading coronavirus. The regular season is to open on March 20. “This was a bitter decision to make,” Commissioner Atsushi Saito was quoted as saying. “Because we can’t determine the situation, I won’t say anything right now about [opening day]. If possible, we all want to go ahead on March 20.”

Outside of sport, worries over the ever-expanding economic fallout of the COVID-19 crisis multiplied Thursday, with factories idled, trade routes frozen and tourism in trouble, while a growing list of nations braced for the illness to breach their borders. Japan’s top soccer league, the J-League, has halted all play until March 15. That announcement came less than a week after South Korean authorities postponed the start of the K-League season, which came in the wake of the suspension of the lucrative Chinese Super League. The Korean domestic basketball season will finish with matches in empty stadiums. Continental competition has been disrupted, with Chinese clubs excluded from the start of the competitions including the Asian Football Confederation’s Asian Champions League. Other countries in Asia have refused to allow Chinese teams to enter, or placed Chinese sports teams in quarantine. On Thursday, the governing body for Super Rugby said a match between the Australia-based Brumbies and Japan’s Sunwolves set for Osaka on March 6 would likely be relocated. If that wasn’t possible, the teams would receive two competition points each, as they would if the match was drawn.

Other matches involving the Sunwolves, who play some of their home matches in Singapore, were likely to be affected in the tournament that involves clubs from South Africa, New Zealand, Argentina, Australia and Japan. The Hong Kong Sevens, the annual highlight of the rugby sevens global competition, has been pushed back to later in the year. Major events in China including the Formula One Grand Prix, and the track and field world indoor championships were among the first to be postponed. The staging of the Tokyo Olympics remain in a serious threat because of the virus. On Thursday, five-time Olympic swimming gold medalist Ian Thorpe said Australia’s athletes should consider their long-term health before deciding to compete in Japan in July. “I would most definitely be concerned,” said Thorpe, who still has a profile in Japan long after retiring from competitive swimming. “What we need...is to use some of the best expert disease specialists to find out what is the risk to the team. What is the risk to the other nations and how can we have an Olympic Games, one that is safe, that doesn’t put athletes at risk?” Thorpe’s comments come a day after International Olympic Committee veteran Dick Pound warned the Tokyo Games could be canceled due to the coronavirus.

Pound told The Associated Press that any decision on whether the Olympics can proceed could be put off until late May. “In and around that time, I’d say folks are going to have to ask: ‘Is this under sufficient control that we can be confident about going to Tokyo or not?’” Pound said. If the IOC decided the Games can’t go ahead as scheduled “you’re probably looking at a cancellation,” he said. Thorpe said “the decision should come down to each individual athlete. But whether or not they want to compete, that they should take their health into consideration first.” Ireland’s Six Nations rugby match against Italy in Dublin, meanwhile, was postponed Wednesday because of concerns about the spreading virus in Europe. The Italians were scheduled to play at Ireland on March 7, part of the annual rugby competition that also includes England, France, Scotland and Wales. A women’s game the following day was also postponed. The decision in Ireland came from Health Minister Simon Harris, who met with rugby officials on Wednesday. “At the outset we made it clear that the IRFU was supportive of the governments’ need to protect public health

ELITE swimmers Chad le Clos (from left), Sarah Sjöström and Katinka Hosszú are aware what’s going on but remain focused on training for the Olympics. AP

SWIMMERS CONCERNED GAMES WILL BE CANCELED

APLES, Italy—If any thoughts were creeping into their minds that the Tokyo Olympics might be canceled because of a viral outbreak, elite swimmers Katinka Hosszú, Chad le Clos and Sarah Sjöström certainly didn’t show it during a strenuous two-hour training session Wednesday. It was only after the three swimmers—who have won 11 Olympic medals between them—stepped out of the pool that they revealed serious concerns over the fate of the games during a series of interviews with The Associated Press. “For the athletes the best [solution] is just to focus on your preparation.... I see the news, but in my mind I’m prepared until it’s on. So I have to be ready,” said Hosszú, whose nickname is “The Iron Lady.” “I really can’t even imagine having the Olympics canceled. For athletes, it’s a nightmare,” Hosszú added. “That’s our life— preparing for the biggest event in swimming.”

“Honestly there is no really good option if it’s canceled,” Hosszú said, adding “postponing is definitely better than altogether cancel.” With the virus spreading in northern Italy, Hosszú moved up her departure from Naples by two days to Thursday. Le Clos, who calls himself a “germophobe,” said he always travels with a face mask. “We have to just not shake too many hands, not touch too much stuff,” the South African said in an interview arranged through his sponsor, Arena. “It’s a terrible thing that’s happened. Hopefully it can get cured soon and we’re going to proceed to the Olympics. “Obviously I don’t want it to be canceled, but if it gets canceled I will train another six months or another year,” Le Clos added. “My approach is not just to Tokyo, I’m looking beyond that.” Sjöström was supposed to swim at a meet in Milan this

weekend that was canceled because of the spread of the virus in northern Italy. “Of course, it’s definitely on my mind,” Sjöström said. “We are reminded about it every day. I read the news. It’s a bit scary.” “People are traveling so much, even me, so that’s why the virus is spreading,” the Swedish swimmer added. “I hope we can calm it down very, very soon.” The swimmers were taking part in a training camp for the Energy Standard team coached by James Gibson. Hosszú, who is not part of the team, was invited as a guest. “Yes, there is a chance that the Olympics could be canceled,” Gibson said. “And if it is, you just deal with that. You have to trust the powers that they’ll never put people in risky situations.” AP

in relation to the coronavirus,” the Irish Rugby Football Union said in a statement. “We were then advised, formally, that the National public health Emergency team has determined that the series of matches should not proceed, in the interests of Public Health. The IRFU is happy to comply with this instruction.” Rugby officials plan talks about when the matches can be rescheduled. In the women’s basketball EuroLeague, Italian clubs were set to host games in Ljubljana, Slovenia, this week until opponents in Hungary and Latvia refused to travel citing concerns about the virus spreading in Italy. Other events taking place in northern Italy are going ahead with caution. The International Ski Federation said women’s Alpine skiing World Cup races will go ahead this weekend at La Thuile with fewer spectators. The races are a homecoming for locally-born Federica Brignone, who now leads the World Cup standings. The International Cycling Union said plans for the one-day classic Milan-San Remo race on March 21 are not affected, though “it is not currently possible to predict in the medium term whether competitions in this country will be maintained or canceled.”

Dentsu admits staff contracts coronavirus

OKYO 2020 marketing agency Dentsu has ordered around 5,000 staff to work from home after confirming one of its employees had contracted the coronavirus at its headquarters in the Japanese capital. According to Japanese media, a man in his 50s has been infected with the virus. The global agency also placed four other employees who he came into close contact with under medical observation. Dentsu said its headquarters, located in the Minato ward of Tokyo, had been disinfected following the confirmed case. Close to 5,000 staff members have been told to work from home, instead of the building in the city, for the time being. Dentsu, appointed as the exclusive Olympic and Paralympic marketing agency in Japan a year after Tokyo was awarded the Games in 2013, is the latest organization to have been impacted by the coronavirus outbreak. There are 172 cases of the coronavirus in Japan, which has, so far, reported two deaths. Tokyo 2020 and the International Olympic Committee insisted preparations for this year’s Olympics and Paralympics are continuing as scheduled, and the Games will not be canceled or postponed because of the outbreak. Dentsu has regularly been forced to disassociate itself from allegations it has been involved in corruption cases due to its close links with disgraced former International Association of Athletics Federations official Lamine Diack. Kaoru Sugano, a worker for the Japanese giant who was considered a key player in the creation of the Tokyo 2020 Opening and Closing Ceremonies, resigned earlier this year after being found to have harassed colleagues.

DOWNSIZE TORCH RELAY

TOKYO 2020 is considering downsizing the Torch Relay for this year’s Olympic Games because of the coronavirus outbreak, according to chief executive Toshiro Muto. Japanese media quoted Muto as saying the relay, considered an important event in the buildup to the Games, could be reduced in size as part of measures to prevent the spread of the virus. Muto insisted the Torch Relay, which begins in the disaster-hit Fukushima Prefecture on March 29, would not be canceled despite the outbreak. Scaling down the size of the departure and arrival ceremonies could be among the measures put in place by Tokyo 2020 amid fears over the virus. “Bringing spectators together in large numbers increases the risk of infection,” Muto told the Kyodo news agency. “Downsizing is among the approaches we can consider.” Insidethegames

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C2 Friday, February 28, 2020

BREGMAN GETS ’EM BEANBALLS W

TEBOW DONS PHL COLORS P

ORT SAINT LUCIE, Florida—Tim Tebow is set to swing into action for a new team. The New York Mets minor league outfielder and former Heisman Trophy-winning quarterback will play for the Philippines next month in the World Baseball Classic (WBC). Tebow was born in the Philippines in 1987 when his parents were serving as missionaries in the country. The family moved to Florida when he was three years old. “I’m kind of excited about it,” Tebow said

EST PALM BEACH, Florida— Houston’s Alex Bregman was hit on the back by a breaking ball from Saint Louis reliever Ramon Santos on Wednesday, the seventh Astros player plunked in five spring training games. “It was a splitter,” Bregman said. “It just got away from him.” Some opposing players have called for retaliation against the Astros following Major League Baseball’s finding that Houston broke rules against electronic sign-stealing en route to its 2017 World Series title and again in 2018. Dustin Garneau was hit Sunday against Washington, and José Altuve was grazed Monday against Detroit, when Osvaldo Duarte and Alex de Goti also were hit. Aledmys Díaz and Jake Meyers were hit Tuesday by Miami. Santos’s 1-0 pitch in the fifth inning struck Bregman on the left shoulder blade. The twotime All-Star trotted to first, then was replaced by a pinch runner. “I think I got hit like 10 times last year, or something like that,” Bregman said. “One of them got me good last year, but that one was just a split-finger.” Bregman hit his first homer of spring training, a tying solo shot in the third on an 0-2 pitch from Angel Rondon. Houston hit four homers in a 7-5 loss to the Cardinals in a splitsquad game for both sides. Houston pitching Coach Brent Strom was ejected by plate umpire Mike Eastabrook in the fifth inning for arguing balls and strikes. “I could tell it was brewing,” Houston Manager Dusty Baker said. “Some of those pitches were kind of close for a spring training game. He called a good game, but it was tight, a tight zone.” At the Astros’ split-squad game against the New York Mets in Port St. Lucie, George Springer was showered with loud boos when he stepped into the batter’s box a bit too early. Mets pitcher Noah Syndergaard turned and looked at the scoreboard clock that showed 1:09 p.m.—he waited for the minute to change so the game

would officially reach the 1:10 start time, leaving Springer nowhere to go as the crowd heckled him. “Cheater! Cheater! Cheater!” one Mets fan along the first-base side chanted at Springer. Justin Verlander’s spring training debut, on the other hand, was postponed at least a few more days while the Astros ace deals with tightness in his groin. Verlander had been scheduled to start Thursday against Washington. Instead, he will throw a simulated game at the Astros’ complex prior to that exhibition. Baker said the tightness first appeared “a couple of days ago.” “He said he’s doing good, so we’ll just have to keep an eye on him and analyze him,” Baker said. Baker added that he isn’t worried about the injury lingering and expects that, if all goes as planned on Thursday, Verlander would make his next scheduled start, likely early next week. “I would think so,” Baker said. “It just depends on how he feels.” Verlander won his second Cy Young Award last season by going 21-6 with a 2.52 ERA. His 225 career wins are the most among active players. The change of plans thwarts what would have been a marquee Grapefruit League pitching matchup. Washington is still planning to send Max Scherzer to the mound on Thursday. Scherzer tossed two scoreless innings at Houston in the Grapefruit League opener for both teams. Right-hander Christian Javier is now expected to get Thursday’s start for Houston against Scherzer. AP

Gagli, Molinari pull out of Oman over virus crisis

KOEPKA: MY OPINION IS MY OPINION

USCAT, Oman—Italian golfers Lorenzo Gagli and Edoardo Molinari have withdrawn from the Oman Open on the European Tour amid reports they are being isolated to determine if they have the virus spreading in Europe. Gagli tells Italian newspaper La Nazione that a European Tour doctor told him at breakfast Wednesday to return to his room. Molinari, his roommate for the week in Oman, was moved to another room. Gagli said he was given a test and told the result would be available in two days, but that he would have to remain in the room until next Wednesday, meaning he also would have to withdraw from the Qatar Masters the following week. “It’s an inexplicable decision,” Gagli said. “Only us two have been excluded from the tournament, but I arrived in Muscat last Sunday and over the last few days I’ve worked out in the gym with dozens of other players. I ate with them and traveled by bus with them. “If there was a risk of contagion, then they would have to isolate dozens of golfers and cancel the tournament.” In an e-mail to The Associated Press, a European Tour spokesman said only that Gagli and Molinari have withdrawn from the Oman Open on “medical grounds.” He said he could not say anything further because of patient confidentiality. Gagli, a 34-year-old from Florence, is No. 407 in the world and his only victory is the Kenya Open in 2018 when it was part of the Challenge Tour. Last year, he was part of a four-man playoff in the European Masters in Switzerland that included Rory McIlroy and was won by Sebastian Soderberg. Molinari is a former US Amateur champion who played in the 2010 Ryder Cup along with his brother, former British Open champion Francesco Molinari. Gagli says he and Molinari have suffered “serious economic damage.” “I feel fine,” he told La Nazione. “I just have a cold.” AP

TIM TEBOW will play for the Philippines in the World Baseball Classic.

Embiid fined for flipping off Hawk, cursing on air

EW YORK— The National Basketball Association (NBA) fined Philadelphia 76ers center Joel Embiid $25,000 on Wednesday, two days after he made an obscene gesture on the court and used profane language during a live television interview. In announcing the fine, the NBA noted that the amount “reflects his multiple prior violations of acceptable on-court decorum.” The gesture occurred with 17 seconds remaining in the fourth quarter of the Sixers’ 129-112 victory over the Hawks on Monday night. With the clock winding down, Atlanta’s Kevin Huerter came from behind and swiped the ball from Embiid, who was trying to dribble it out. Embiid responded by flashing a middle finger at Huerter. He later apologized. Embiid scored a careerhigh 49 points in the game. Afterward, in

ALEX BREGMAN becomes the seventh Astros player to be hit by a pitch in five games. AP

ALM BEACH GARDENS, Florida—Brooks Koepka said he respects everything Rory McIlroy had to say on the notion of a Premier Golf League and why he wouldn’t want to be part of one. Then again, McIlroy’s thoughts apparently aren’t going to sway Koepka. The world’s No. 3 player didn’t offer a firm stance one way or another Wednesday on whether he supports the idea of a league that would essentially compete with the Professional Golfers’ Association (PGA) Tour, other than saying that he wants to continue playing against the best in the game. “I’m just going to play where the best players play,” Koepka said. “Simple as. I want to play against the best.” And if the best stay put on the PGA Tour, then that would clearly indicate Koepka will

Wednesday. “I think it’s cool.” On Tuesday, Tebow homered in a spring training game against Detroit. He’s spent parts of four seasons in the minors with the Mets, and hit .163 with four home runs and 19 RBIs in 77 games last year in his first Triple-A action. Tebow won two national championships at Florida, then played in the National Football League with Denver and the New York Jets. Tebow said Mets management supported his upcoming stint in the WBC. The Philippines will play in a qualifying tournament from March 20 to 25 in Tucson, Arizona, with teams from Panama, New Zealand, Great Britain, the Czech Republic and Spain. AP

remain there. The idea of the Premier Golf League is to bring together 12 four-man teams that would be required to play 18 events—10 of them in the US—that feature 54 holes, no cut and a shotgun start in some rounds to fit a five-hour broadcast window. Total prize money would be $240 million, and the top player could earn as much as $50 million. It has been a talking point for years and is making headlines again now in part because of McIlroy’s comments last week in which he made clear that he has no interest in joining any new league. There is also a meeting of the PGA Tour policy board next week, coinciding with the Arnold Palmer Invitational at Bay Hill. “Money is the easy part,” McIlroy said last week. “It shouldn’t be the driving factor. Look, for some people it is. And we’re professional golfers

quite know how to play. We have to figure out how to play without him.” Embiid collided with Cavaliers center Ante Zizic while being fouled late in the first quarter. The 7-footer held his shoulder in obvious pain but stayed in the game and missed both free throws. The Sixers pulled Embiid at the next time stoppage and he walked to the locker room while rubbing his shoulder. He briefly returned to the bench in the second quarter, but went back for more evaluation and treatment. At halftime, Embiid rejoined his teammates on the bench with a wrap on his injured shoulder. Brown, sensing his team was in early trouble, called timeout two minutes into the game, but Cleveland steadily built its lead. The Cavaliers shot 58 percent in the first half and led 70-50 midway through the third quarter. Philadelphia cut the lead to 85-80 in the fourth, but got no closer. Cavaliers forward Larry Nance Jr., who had 13 points and 15 rebounds, said Embiid’s absence made a difference. “You never want to see that,” Nance said. “He’s one of the best, most dominant players in this league. Anytime he’s not there, same with Ben, is important.” Collin Sexton scored 28 points for Cleveland, which had five players in double figures. Tristan Thompson had 14 points and 13 rebounds. Cavaliers center Andre Drummond didn’t play because of a strained left calf. Shake Milton, who replaced Simmons in the Sixers’ lineup, scored 20 points. Furkan Korkmaz scored 14 points and Alec Burks had 13. Simmons missed his second straight game because of a nerve impingement in his lower back. The team hasn’t given a timeline on when he’ll be back. After hosting New York, Philadelphia will begin a four-game trip in Los Angeles on Sunday. Philadelphia is fifth in the Eastern Conference. The Cavaliers are 3-1 under Coach JB Bickerstaff, who took over when John Beilein resigned during the All-Star break. AP

and we’re out here playing golf to make a living. But at the end of the day, I value my freedom and my autonomy over everything else.” PGA Tour Commissioner Jay Monahan sent a memo to players last month saying that because the tour has contracts with title sponsors for a full schedule and television partners, anyone joining the Premier Golf League would have to give up his PGA Tour membership. And the major championships wouldn’t be part of the new league’s slate. “My opinion is my opinion,” Koepka said. “Nobody else is going to sway it.... I mean, I respect what Rory said. Everybody has got their own thoughts. Everybody has got a different opinion. It is what it is. I’m pretty sure Rory wants to play against the best players in the world, too. Wherever that is, everybody is going to be playing.” AP

Top-ranked Serb jokovic, Tsitsipas reach Dubai quarters

BROOKS KOEPKA says he’s “going to play where the best players play.” AP

a postgame walk-off interview, he tried to clarify after calling himself the best player in the world following an excellent performance last week against Brooklyn. His interview included profanity. The 76ers, meanwhile, suddenly have a lot more to worry about than their poor road record or playoff seeding. Their star players are getting hurt. Embiid left Wednesday night’s 108-94 loss to the Cleveland Cavaliers with a sprained left shoulder in the first quarter and didn’t return. The All-Star center scored three points in eight minutes. The 76ers, already playing without All-Star guard Ben Simmons, never led against the team with the worst record in the Eastern Conference and fell to 9-21 on the road. Embiid had his left arm in a sling and was in visible discomfort following the game. He declined to talk to reporters and had an equipment manager carry his backpack out of the locker room, where the quiet atmosphere summed up the team’s mood. The Sixers are fifth in the conference. Coach Brett Brown said he didn’t know how long Embiid, who scored a career-high 49 points Monday against Atlanta, will be sidelined. “I’m really unsure,” Brown said. “It’s not coach-speak, but this is part of the NBA landscape. That’s why you try to accumulate talent and depth.” Al Horford said his team had a difficult time adjusting without Embiid, who averages 23.8 points and 12 rebounds. “Obviously, we play through him and once he was out, we didn’t really know what was next,” said Horford, who scored 10 points. “We didn’t

UBAI, United Arab Emirates—Top-ranked Novak Djokovic beat German veteran Philipp Kohlschreiber, 6-3, 6-1, Wednesday to reach the quarterfinals of the Dubai Championships and remain unbeaten in 2020. Djokovic broke for a 4-2 lead in the first set and went 4-0 up in the second before wrapping up the win in 59 minutes. The Serb is 15-0 this year, including six wins at the ATP Cup and his run to the Australian Open title. “It was a great performance,” Djokovic said. “I enjoyed the way I played, coming out with the right focus and tactics.” Djokovic will next face seventh-seeded Karen Khachanov of Russia, who beat Austrian qualifier Dennis Novak 6-3, 6-4. Second-seeded Stefanos Tsitsipas defeated Alexander Bublik, 7-6 (1), 6-4, to set up a meeting

JOEL EMBIID is not only fined, he’s also hurting with a sprained left shoulder. AP

with Jan-Lennard Struff, who needed just 39 minutes to ease past Nikoloz Basilashvili, 6-1, 6-0. Third-seeded Gael Monfils of France took his winning streak to 11 matches by ousting qualifier Yasutaka Uchiyama, 6-1, 6-2. Monfils is coming off victories at Rotterdam and Montpellier. He will face fellow Frenchman Richard Gasquet, who ousted No. 8 Benoit Paire, 6-4, 6-4. In Doha, former No. 1 Garbiñe Muguruza beat Ukrainian teenager Dayana Yastremska, 6-2, 6-4, Wednesday to reach the quarterfinals of the Qatar Open. Muguruza, the former French Open and Wimbledon champion who lost in this year’s Australian Open final, has reached the quarterfinals of all five tournaments she has played in 2020. She will next face current No. 1 Ash Barty, who advanced when Elena Rybakina had to withdraw

from the tournament with an injury after her second-round win on Tuesday. Third-seeded Karolina Pliskova lost, 6-4, 3-6, 6-3, to Ons Jabeur, a rising talent from Tunisia who reached the Australian Open quarterfinals. Jabeur will next face Petra Kvitova, who defeated Jelena Ostapenko, 6-2, 4-6, 6-1. Fourth-seeded Belinda Bencic also advanced by beating Yulia Putintseva, 6-4, 6-3. In Santiago, Chile, second-seeded Casper Ruud of Norway advanced to Chile Open quarterfinals Wednesday, beating local favorite Alejandro Tabilo, 6-4, 7-5, in the clay-court event. Ruud, the Argentina Open winner this month, will face seventh seeded Federico Delbonis of Argentina, a 7-6 (1), 6-3 winner over Italy’s Salvatore Caruso. AP

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Friday, February 28, 2020

NAVYMEN MAKE FOES EAT DUST P

By Ramon Rafael Bonilla

HILIPPINE Navy-Standard Insurance team roared like a newly-overhauled engine on Thursday as the Navymen crossed Stage Five’s Antipolo City finish as one mighty unit with John Mark Camingao taking the day’s honors in the Ronda Pilipinas 10th anniversary race. The stage was rather short but tricky at 122.60 kms as the riders pedaled northward from Lucena City. But the Navymen of coach Reinhardt Gorantes refused to be denied of their intention to dominate the domestic race that offers P1 million to the individual champion. Camingao, 2018 Ronda king Ronald Oranza, many-time King of the Mountain Junrey Navarra, ex-Ronda titlist Jan Paul Morales, former Le Tour de Filipinas champion El Joshua Carino, Ronald Lomotos and George Oconer unmolestedly crossed the finish together with an identical clocking of three hours, 12 minutes and 50 seconds. Oconer significantly benefited by Navy’s charge. He emerged as the third rider in five days to grab the leader’s red jersey heading into the final half of the 10-stage race that takes a break on Friday.

Oconer, who now leads the general classification with an aggregate time of 17:54:13, however, expressed wariness wearing red. “It all depends on the next few days. There’s still the ascent in Baguio City. Anything can happen,” said Oconer, referring to the Palayan City to Baguio City Stage Eight. “I’m always reminding my teammates to stay sharp. Cariño, the 2018 Le Tour champion, prevailed as the stage’s King of the Mountain to also take the overall mountain classifications for the Philippine Navy. Morales, meanwhile, continues to lord it over in the sprint category. Oranza trailed Oconer by 1:15, followed by Lomotos (1:18), Camingao (1:53), Navarra (2:17) and Cariño (3:51). Navy also made a giant stride in the team classification and with its total time of 71: 36:57, held a close to a 24-minute lead over Go for Gold. 7-Eleven was third 28:55 behind. Mark Julius Bordeos of Bicycology-Army found himself in seventh sport in the general classification ahead of 7Eleven’s Rustom Lim, Go for Gold’s Jonel Carcueva and Ismael Grospe Jr.

SEA GAMES GOLD WINNERS HAILED STAGE 5 looks like a ceremonial ride for the Philippine Navy-Standard Insurance riders.

CANLUBANG HANGS ON C

ROLLY VIRAY studies the line of his putt.

FEU vs Adamson U

AR Eastern University-Diliman shoots for the remaining Finals berth as it tangles with Adamson University at the resumption of University Athletic Association of the Philippines Season 82 boys’ basketball stepladder semifinals action on Friday at the Filoil Flying V Centre. The twice-to-beat Baby Tamaraws and the fourthranked Baby Falcons collide at 3 p.m. A win will put FEU in a title showdown with undefeated Nazareth School of National University. The Bullpups clinched their ninth consecutive Finals appearance after a perfect 14-0 eliminations campaign. FEU dropped its final elimination match to NSNU, 73-80, that ended a 12-game win streak last February 5. The Baby Falcons have yet to beat the Baby Tamaraws this season, but the step-ladder is a different story. Adamson University overcame a slow start to eliminate No. 3 Ateneo, 84-75, last February 12. The league postponed all of its sports events after that because of the coronavirus outbreak. Jake Figueroa—on the rise after averaging 20.5 points and 21.5 rebounds in their last two games, all against the Blue Eaglets—will power the Baby Falcons. Cholo Anonuevo, who recently committed to play for FEU’s men’s program, will lead the Baby Tamaraws. An Adamson University win will force the second stepladder phase to a sudden-death on Monday at the Blue Eagle Gym. Game One of the best-of-three championship series is on March 6 at the San Juan arena. University of Santo Tomas (UST), meanwhile, puts its men’s and women’s titles on the line as the judo tournament opens on Saturday at the Mall of Asia Arena.

ANLUBANG held off Luisita’s searing comeback to hang on to a four-point lead halfway through the 34th Philippine Airlines Senior Interclub golf team championships on Thursday in Bacolod City. Rolly Viray and Rene Unson scored 49 and 48 points, respectively, while Abe Avena added 45 as Canlubang collected 142 at the Bacolod Golf Club for 281. Viray was even through 10 holes before making double bogey on The 11th hole and three bogeys in the next five. He closed out with a birdie and a bogey. Unson, a last-minute replacement, parred the last six holes to deliver in the final foursome. “Whenever you’re ahead, you should be happy,” Canlubang captain Tony Olives said. “It’s been a long time since we led in the first two rounds.” Canlubang actually led by 14 points

counting all players at the turn, but Luisita mounted a fierce rally that nearly turned the tide. Benjie Sumulong, trounced by Viray by nine points in the front nine, came alive in the back nine with three birdies to salvage 46 points. “I was 10-over in the front nine because of bad breaks. So I told myself I might as well start attacking the pins,” said Sumulong who went two-under at the back after making the turn at 10-over. Raffy Garcia was Luisita’s top scorer with 50 points, capped by an even-par finish in the final nine holes. Rodel Mangulabnan rounded out Luisita’s scoring with 42. “We rose from the dead,” said a relieved Jeric Hechanova who paid tribute to his players for not giving up. Negros Occidental and Cebu Country Club, the other teams in the championship division, lagged behind with 271 and 266 points, respectively. Scoring for Negros were Jimmy Yusay (47), Chris Infante (45) and Stephen Paduano (44) while CCC drew 51 from Eric Deen, 46 from Kwang Seok Kim and 44 from Carl Almario. CCC, however, lost a player to injury. Nonoy Tirol injured his right leg while climbing out of the bunker on the eighth hole. Amid the Canlubang-Luisita fight, a third force looms from the Founders division. Del Monte collected 141 points to improve to 275, just six points behind Canlubang. Arsenio Mondilla scored 48, Ramon Velez

chipped in 47 and Virgilio Adag added 46 for Del Monte which enjoys an eight-point lead over Eagle Ridge. Danilo Cruz and Tony Mendoza starred for Eagle Ridge with 53 and 50, respectively with Avelino Beltran completing scoring with 34. Orchard was third with 257 after posting 125. Partial Results: Championship: Canlubang 281 (139-142), Luisita 277 (139- 138), Negros Occidental 271 (135- 136), Cebu Country Club 266 (125- 141) Founders: Del Monte 275 (134- 141), Eagle Ridge 267 (130-137), Riviera Golf 257 (122- 135), Orchard 257 (132-125), Manila Southwoods 250 (125-125), Camp John Hay 246 (119-127), Manila Golf 234 (109- 125), Valley Golf 227 (105-122), Southern California Redhawk 223 (107- 116), Fil Am Hawaii 222 (92-130), Wack Wack 222 (101- 121), Leyte Golf 199 (98-101) Aviator: Villamor Airbase 249 (123- 126), Sherwood Hills 248 (124-124) , Pueblo de Oro 243 (120- 123), Iloilo Golf 241 (120- 121) , Zamboanga Golf 234 (119- 115), Camp Evangelista 232 (108-124), Club Filipino de Cebu 229 (118- 111), Alta Vista 224 (101123), Alabang Golf 223(113-110), Mimosa 222 (105- 117), Guinhalaran 216 (102114), Camp John Hay- Pugad 215 (111- 104), MSU Marawi 214 (96- 118), Club Intramuros Seniors 213 (109- 104), Apo Golf 212 (100-112), Bay Area Golf Team 2 201 (101100), Beverly Place 200 (99- 201), Eagle Ridge Lagitek 198 (101-97) , Team Phil- UK 174 (91- 83), Travelers Golf 159 (71-88).

BONG TAN SPORTS COMPLEX

Aircraft maintenance firm Lufthansa Technik Philippines Inc. (LTP), a joint venture with Lucio Tan-owned MacroaAsia Corporation, recently named its sports complex in Pasay City in honor of the late MacroAsia director and sports enthusiast Lucio “Bong” K. Tan Jr. Witnessing the unveiling of the gym’s new marker is Dr. Lucio C. Tan (fourth from left), Carmen Tan (third from left), Bong’s wife Julie (left) and son Lucio “Hun” Tan III. They are joined by Daniel Hoffman (extreme right), LTP senior vice president for base maintenance. In brief remarks, Hoffman said the sports complex is a venue where LTP employees learn the value of success and resilience from defeat in an environment that fosters camaraderie and teamwork—ideals which Bong Tan stood for.

HE gold medal winners of the 30th Southeast Asian Games lead the long list of citations to be handed out during the San Miguel Corp.-Philippine Sportswriters Association Annual Awards Night slated next week at the Centennial Hall of the Manila Hotel. Team Philippines led by world champions Carlos Yulo and Nesthy Petecio along with Olympic silver medalist Hidilyn Diaz, bagged a total record of 149 gold medals when the country hosted and regained the overall title of the biennial meet. On account of that remarkable finish, Team Philippines will be accorded with the prestigious Athlete of the Year award in the March 6 event presented by the Philippine Sports Commission, Milo, Cignal TV, Philippine Basketball Association, Rain or Shine and AirAsia. Arnis produced the most number of gold medals in the SEA Games with 14, followed by athletics with 11 and dancesport with 10. Besides the SEA Games gold winners—139 in all including multiple winners-18 personalities and entities will also going to be cited by the

country’s oldest media organizations for their achievements and support to Philippine sports in the previous year. The list includes boxers Eumir Marcial, Josie Gabuco and Pedro Taduran, undefeated University Athletic Association of the Philippines men’s basketball champion Ateneo and National Collegiate Athletic Association counterpart Letran, Jones Cup winner Mighty Sports, bowler Merwin Tan, mixed martial arts star Joshua Pacio, fencer Samantha Catantan, Grandmaster John Paul Gomez, darts player Lourence Ilagan and Estafano Rivera of motorsports. Rep. Michael “Mikee” Romero, Philippine Obstacle Sports Federation, Go for Gold, Standard Insurance, Amelie Hotel and MVP Sports Foundation complete the list of awardees. The other awardees that have yet to be named are the Milo Junior Athletes of the Year, Chooks-To-Go Fan Favorite and Tony Siddayao junior achievers. Posthumous recognition will also be given to kins of sports personalities who passed away in 2019.

PSC releases cash incentives to successful SEAG coaches

HE Philippine Sports Commission (PSC) started releasing checks on Wednesday for coaches whose athletes clinched medals in the 30th Southeast Asian Games last December. The entire incentive package—mandated by Republic Act No. 10699 of the National Athletes and Coaches Benefits and Incentives Act— reached P45 million. The coaches incentives are half those of what the medal winning athletes receive for their SEA Games success. A gold medal merits P150,000, silver P75,000 and bronze P30,000. In sports or events where there are two or more coaches, the incentive will be divided among themselves. The cash incentives for coaches were based on the submission of certification requirements and profile provided by the national sports associations concerned and the medalist-athlete. “A coach can only receive his or her

incentive upon submission of required certifications and documents,” PSC-NSA Affairs Office Head Annie Ruiz said. National coaches from arnis, athletics, beach handball, billiards, bowling, boxing, cycling, dancesports, gymnastics, jiu-jitsu, kickboxing, modern pentathlon, muay, pencak silat, rowing, sailing, sambo, sepak takraw, soft tennis, soft tennis, softball, squash, taekwondo, tennis, weightlifting, windsurfing and wrestling were the first batch to get their incentives. The next batch of coaches scheduled to receive their incentives are from archery, baseball, canoe, fencing, judo, lawn bowls, obstacle course, swimming, traditional boat race and volleyball. Funding for these incentives was sourced from the National Sports Development Fund (NSDF) from the Philippine Amusement and Gaming Corp.

14 teams vying in PBA 3x3

HE 12 franchise teams—plus two others squads—will field teams in the inaugural Philippine Basketball Association 3x3 tournament in April. Mighty Bond and Dunkin Donut have expressed their intention to join the tournament that will run alongside the Philippine Cup that kicks off on March 8. The 14 teams will be divided into two groups and they will play 42 elimination games. There will be 14 playoff games per conference. The semifinals and the finals are best-ofthree series. “All 12 teams will participate,” PBA Board

Vice Chairman Bobby Rosales said. “We also intend to put up a pot money which we still have to determine for the winning teams.” Games are scheduled on Mondays, Wednesdays and Fridays in between the doubleheaders of each play regular PBA date. Rosales said that there is no age restriction for players with each team allowed to field four to six players, two of whom could be Filipino-foreigners. The franchise teams are San Miguel Beer, Barangay Ginebra, TNT, Meralco, NorthPort, Magnolia, Phoenix, Rain or Shine, Blackwater, Alaska, NLEX and Columbian Dyip. Ramon Rafael Bonilla

PHILIPPINE Basketball Association (PBA) players pose for a group photo during the Media Day on Thursday at Conrad Hotel in Pasay City. The leaque opens on March 8 with the Philippine Cup at the Smart Araneta Coliseum.

Sports

Alfa Romeo’s Kubica fastest as preseason testing resumes

BusinessMirror

| Friday, February 28, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

JUVENTUS supporters shout in Lyon ahead of their team’s Champions League round of 16th first leg match against Juventus on Wednesday. AP

SOCCER LIFE GOES ON, AMID VIRUS OUTBREAK By Jerome Pugmire The Associated Press

S black-and-white clad Juventus fans mingled in the restaurants and bars of Lyon ahead of a Champions League game Wednesday, the decision to let the match go ahead amid a coronavirus

outbreak in nearby Italy met with a defiant stance from France’s health minister but criticism from others. Lyon received the go-ahead from French authorities on Tuesday, sparking disapproval from some politicians and residents close to the stadium. Around 3,000 Juventus fans from Turin in northern Italy attended the game at Groupama Stadium, located some 15 kilometers outside of the city center in the commune of Décines-Charpieu. The usual protocol was maintained before the game, with players from both

DORTMUND’S Giovanni Reyna (right) embraces his teammate Erling Braut Haaland after their Champions League match against Paris Saint-Germain in Dortmund, Germany. AP

REYNA, 17, TO JOIN U.S. NATL TEAM

EW YORK—Giovanni Reyna is following his father to the US national team. The 17-year-old Borussia Dortmund midfielder will be invited to the American training camp ahead of exhibitions on March 26, at the Netherlands and four days later at Wales. “We want our younger players performing, playing at a high level, and he’s doing that,” US Coach Gregg Berhalter said Wednesday. “As a result of that he gets an opportunity with the first team.” Reyna turned 17 in November, and made his senior team debut for Dortmund on January 18 in the Bundesliga at Augsburg. He scored his first goal February 4, in a German Cup match at Werder Bremen and on February 18 became the youngest American to appear in a European Champions League match when he entered in the second half against Paris Saint-Germain. He has appeared in eight games for Dortmund, all as a substitute. “What I really like from him was his positioning,” Berhalter said. “When he gets the ball in the pocket, his awareness to turn and his efficiency in when he’s turning is excellent— doesn’t waste any touches turning. He turns right away. Second thing is his ball security under

pressure is phenomenal.” Reyna was part of the US team at last year’s Under-17 World Cup. Berhalter said it would not be possible to have Dortmund release Reyna to play for the US Under-23 team in Olympic qualifying next month. Reyna’s father, Claudio, scored eight goals in 112 appearances for the US from 1994 to 2006, appearing in three World Cups. Reyna’s mother, Danielle Egan Reyna, scored one goal in six appearances for the US in 2003. Reyna could become the third-youngest player for the US behind Freddy Adu, who was 16 when he debuted against Canada in 2006, and Steve Snow, who was 17 years and 132 days against Costa Rica in 1988. The Reynas would be what is thought to be the fifth father-son pair to play for the US after Harry and Ty Keough, Joe and Philip Gyau, Joe and Alain Maca, and Tim and Taylor Twellman. Reyna would follow another young Dortmund star to the national team. Midfielder Christian Pulisic was 17 when he made his US debut in March 2016, and has become the top American player. Reyna can play wide on both sides and also is viewed by Berhalter as a possible central attacking midfielder. AP

sides holding hands with young mascots as they walked onto the pitch. Players shook hands with each other in the tunnel moments before, with Juventus star Cristiano Ronaldo hugging Lyon goalkeeper Anthony Lopes, his Portugal teammate. The traveling supporters were grouped together in a top section of the 59,000-seater stadium, with a couple of Italian tricolor flags and Juve flags draped over the railings. Earlier, Juventus fans in the city center were eating and drinking around the large Place Bellecour square amid a general sense of calm. They were not seen to be wearing any protective face masks, and Italian fans interviewed on television welcomed the decision to let them attend. In Italian soccer, reaction to the fastspreading virus from China has been swift and strong. It has led to the postponement of games in northern Italy, where a cluster of the COVID-19 disease has caused several deaths and forced towns to be locked down. By Wednesday evening, the number of positive cases in Italy had reached 400. Several Italian league matches this weekend, including the table-topping clash between Serie A leader Juventus and Inter Milan, will be played in empty stadiums. Arriving in Milan on Wednesday for a Europa League game, players from Bulgarian club Ludogorets stepped off the team bus wearing masks and gloves. They play against AC Milan on Thursday night, a game which will also be held without fans. France’s health minister Olivier Veran said such measures are not needed yet in France,

and urged people not to panic. He insists that France is not considering closing its border with Italy, nor banning big gatherings of people—such as at soccer matches or Paris Fashion Week—because it makes no sense. “We’re taking decision based on a scientific and medical rational,” Veran said Wednesday. “Based on facts, figures.” Turin, where Juventus is based in the Piedmont region, is located some 200 km (124) miles from the zones said to be most at risk. “No one has been identified as ill [from the virus] in Turin, nor in the Piedmont region,” Veran said. “There is no reason not to allow [this match]. The Italian fans [for the Lyon game] will be in a dedicated stand.” Visiting fans are allocated their own part of the stadium in every game, for security reasons. And Lyon’s long-standing president said he feels there is no need to cause “additional anguish” by banning Italian fans based on fear rather than reason. “Let’s stick to clear answers from the scientists,” Jean-Michel Aulas said. “All fans from Lyon and Juventus can come without any problems.” But the decision not to hold the match in an empty stadium—or at least an empty away section—was scathingly criticized by the mayor of nearby Meyzieu. His town is located in the Décines-Charpieu commune, which boasts the gleaming stadium. He says “the phone hasn’t stopped ringing at the town hall” from concerned local residents.

“It’s far too late now to take the measures we’ve asked for,” Mayor Christophe Quiniou told BFM TV station. “Since the start of the weekend, the inhabitants of the towns of Décines and Meyzieu have expressed their worries and their incomprehension, upon hearing no measures would be taken and no restrictions [imposed].” He said letting the match go ahead clashed with other “precautionary measures” taken in France, for example with schoolchildren returning from holidays in certain parts of Italy. “Here we’re doing everything possible... to maximize it [the risk],” Quiniou said. “Allowing people in numbers to come from the northern regions of Italy, let them take buses all together in an enclosed space, and then put them in contact with 50,000 people in a stadium.” Foreign fans going to the stadium, either during last year’s women’s World Cup or the men’s European Championship in 2016, often arrived in droves by tram from city center locations such as Lyon Part-Dieu train station. There is one tram stop directly in front of the stadium, and another about 1 km away. Quiniou said “all of those who did not come by bus and who arrived by car [from Italy]” will park and then “use public transport with all of the inhabitants.... What will happen around the stadium will have reprecussions.” But Lyon resident Paul Wheal, 47, who lives near the other main station, LyonPerrache, is not alarmed by Italian fans in Lyon, saying “I haven’t heard anyone talking about it in recent days.”

ONTMELÓ, Spain—Reserve Alfa Romeo driver Robert Kubica was fastest as Formula One preseason testing resumed Wednesday at the Barcelona-Catalunya Circuit. Kubica had a time of one minute and 16.942 seconds in the morning session, becoming the first driver other than Mercedes teammates Lewis Hamilton and Valtteri Bottas to go faster than 1:17.000 this year. “It has been a positive morning in the car for me,” Kubica said. “Times don’t matter...what really counts is finishing the day having completed your testing program, and we did that.” Alfa Romeo driver Kimi Raikkonen had led one of the tests sessions last week. Mercedes continued to show good reliability, with Hamilton’s 89 laps being the most among all 10 drivers who went to the track in the morning. The defending champion was fourthfastest, while Bottas finished ninth after 90 laps in the afternoon. “It’s been a good session and a good start to the second week of testing,” Hamilton said. “The car didn’t quite feel as good as the first week, but I’m sure that will change as the test progresses and the track conditions improve.” Red Bull’s Max Verstappen had the secondfastest time on Wednesday, four-tenths of a second behind Kubica while using a slower tire compound. Sergio Pérez was third with Racing Point, which also showed good pace last week. Pierre Gasly of AlphaTauri was second in the morning and ended fifth for the day, behind teammate Daniil Kvyat. Ferrari driver Sebastian Vettel was 10th after running 84 laps in the morning. Teammate Charles Leclerc finished 13th after 80 laps in the afternoon. Vettel caused the first red flag of the day after running wide. Kubica also spun out early in the morning session, while Verstappen was among those to spin in the afternoon. One of Verstappen’s spins forced the late session to be cut short. “We won’t know how good we are until we get to Melbourne [for the season-opening Australian Grand Prix],” Verstappen said. “Testing isn’t about setting lap times but trying new and different things. I stopped on track just before the end of the session but we’re not concerned and overall it was a positive day.” Red Bull’s day was affected by some suspension issues, while Renault and Williams also were held back by problems. Romain Grosjean drove both sessions for Haas, racking up 107 laps, the most of any driver. Mercedes was dominant on the first three days of testing last week, setting the fastest times and running the most laps—494. Bottas led the time charts with a lap of 1:15.732 seconds. Mercedes also attracted attention last week by introducing a novel steering system in which drivers pull the steering wheel back and forth to adjust the angle of the front wheels on straights. Some teams on Wednesday tested the prototype Pirelli tire which was being developed specifically for the banked corners that drivers will encounter at the Zandvoort track that will host the return of the Dutch GP in May. The season begins with the Australian GP on March 15. It is the last before new regulations are put into place in 2021 to try to provide a more level playing field. Preseason testing has been reduced from eight to six days to help compensate for the record 22 races on the calendar, including a new Vietnam GP and the Dutch GP. Mid-season testing also has been eliminated. The Barcelona-Catalunya track will host the Spanish GP on May 10. AP RED Bull’s Max Verstappen looks at his car on the track during the Formula One preseason testing session at BarcelonaCatalunya in Montmelo. AP

God’s words in our lives

EAR God, inspire us to continue reflecting on Your word. What feelings do we experience upon learning that we have been the object of God’s love even before the creation of the world? How much do we know about God and ourselves? How eager are we to know God better, and to understand more clearly the sublime dignity of our calling? May the gifts of Knowledge and Understanding from the Holy Spirit help us cope with the questions above. 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

ELISABETH MOSS OF ‘THE INVISIBLE MAN’

Giving space for women to be strong... and scared

➜D2

GAB FAB: THE THING ABOUT CARLO KATIGBAK D4

Friday, February 28, 2020

Cover Story BusinessMirror

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Today’s Horoscope

WRITTEN and directed by Leigh Whannell, this shrewd, cleverly updated version plays with the different meanings of “romance” by fusing the basic conceit from H.G. Wells’s uncanny tale with the fallout of an abusive romantic relationship.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Jason Aldean, 43; Ali Larter, 44; Eric Lindros, 47; Pat Monahan, 51. HAPPY BIRTHDAY: You’ve got what it takes to turn this into your year. Stick to your goals, and don’t stop until you feel satisfied with what you’ve accomplished. Your determination and desire will separate you from any competition you face. Your ability to get others to help you using fair incentives will turn you into a leader. Romance is highlighted. Your lucky numbers are 2, 7, 19, 22, 28, 36, 45.

ARIES (March 21-April 19): Consider what you want to do, but don’t lose sight of what others are doing. Protect your reputation, but pay close attention to detail. Take care of your responsibilities personally. Leave nothing to chance, and positive change can happen. HH

Giving space for women to be strong...and scared W HAT you can’t see can hurt you. Emmy Award winner Elisabeth Moss stars in The Invisible Man, a terrifying modern tale of obsession inspired by Universal’s classic Monster character. The film is written, directed and executive produced by Leigh Whannell, one of the original conceivers of the Saw franchise who most recently directed Upgrade and Insidious: Chapter 3. For Whannell, the character of H.G. Wells’s Invisible Man has been in the back of his mind since he was a boy skipping school to watch Universal’s Monsters on television. What he appreciates about the villain is that, unlike so many other iconic tales, the story hasn’t been redone over and over again. “If you make a film about a character that is globally beloved, you’re dancing with danger,” Whannell says. “Ask anyone who’s made a Star Wars movie recently about the pressure that you’re under when you take on something that iconic and beloved. With the Invisible Man, I felt that there was a freedom there. Of course, people know of this character, but I felt he was a bit of an underdog when it comes to the horror villains. It was exciting to think about what I could do with this character and how I could stretch him a bit.” While Whannell began his career as a writer with 2003’s short Saw and its feature follow-up, which would eventually span to a billion-dollar franchise, he actually started out as an actor and continues to perform. From costarring in films from The Matrix Reloaded to thrillers including those of the wildly successful Insidious series, Whannell has long appreciated what his performers are asked to do in front of the camera...and the boundaries to which they want to stretch themselves. Considering that he has written several entries in the genre, the world of suspense and terror is one that the filmmaker obviously cares for deeply. “I’m a big horror fan, and I’ve enjoyed being a part of horror films,” Whannell says. Still, it was after his latest directorial effort that he began to revaluate his interest in the genre. “After I made Upgrade, I was bitten by the action-movie bug,” he says. “There’s something about being on a film set and orchestrating a car chase or a fight scene that’s very addictive. As soon as I finished the film, I thought, ‘When do I get to do this again?’ In my mind, the next one I was going to make was going to be a visceral action movie.”

“I hope that this film gives some voice and strength to people who have been through [abusive relationships]. As women, we feel like there’s a sense of empowerment, that we’re this generation that speaks up, but I think we sometimes still judge others for staying in relationships they shouldn’t be in.”

Fortune favors the prepared, and that is just when The Invisible Man crash-landed into Whannell’s life. When he received a call to meet with Blumhouse Productions’s development team to discuss potential projects, he didn’t imagine it was an opportunity to reimagine a new iteration of one of Universal’s Monsters. That casual conversation with Blumhouse became a life-changing opportunity. While Wells’s original character was a scientist who devolved into madness, Whannell was more interested in the objects of the villain’s obsession. The focus, it occurred to him during his Blumhouse meeting, should be inverted. “It was this off-the-cuff pitch…something that just came right out of me off the top of my head,” he says. “I said, ‘If you were

making an Invisible Man movie, you would make it from the point of view of his victim. Say a woman who escapes from her abusive partner in the middle of the night and then finds out that he’s killed himself but doesn’t quite believe it, especially when mysterious things start happening.’” After the meeting, Whannell’s moment-ofinspiration idea burrowed into his brain and wouldn’t let go. “I couldn’t stop imagining scenes from that film and thinking about the way I would shoot it,” Whannell says. “It chose me; I didn’t choose it. I eventually relented and said, ‘Look, this movie’s taking up a lot of space in my head. It’s rent-free, and if I’m going to evict it, I need to go make this thing.’” He pauses. “I wouldn’t have done it unless there’d been something unique that I thought I could attach myself to.” As Whannell crafted a terrifying, modern story of obsession, he imagined the story from the perspective of Cecilia Kass, a smart, capable architect in San Francisco who has become imprisoned by Adrian Griffin, her violent, abusive and powerful boyfriend. When she escapes from the brilliant inventor and optics pioneer, she goes into hiding with the help of her friends and family. But after her ex commits suicide, Cecilia begins to suspect he’s not actually dead but has made himself invisible...using his groundbreaking invention to torture her. The trouble is, her theory sounds insane and paranoid, and she finds herself questioning her own sanity, while also trying to protect herself and the people she loves. Whannell crafted Cecilia as a strong, talented and capable heroine. “I wanted Cecilia to be someone with her whole life in front of her, but it was suddenly cut short by a toxic relationship,” he says. “By getting into the wrong one, her life’s been put on pause. Cecilia found herself in this controlling situation, one where she was stifled as a human and couldn’t do anything. She was suffocated by her partner. As she escapes, I wanted her to find her strength.” It was important for Whannell to create a lead character that completely unravels. “I like the old saying that, when you’re writing a film, ‘You’ve got to take your protagonist, put them up a tree and throw rocks at them,’” Whannell says. “The more adversity your lead faces, the greater the conflict. I wanted the

Continued on D4

TAURUS (April 20-May 20): Drum up some energy and take charge. A business trip or meeting with someone who can make a difference in achieving your goals will bring excellent results. Know what you want, and don’t be afraid to ask. HHHHH

GEMINI (May 21-June 20): Keep a close watch over what others do and say. Don’t get caught in someone else’s problems or fibs. If you want to make a change, be secretive until you have everything in place and ready to launch. HHH

CANCER (June 21-July 22): Use charm and intelligence to persuade others to help you get what you want. Your willingness to do your share will prompt others to pitch in and help. Emotional matters can be resolved, and romance will improve your personal life. HHH

LEO (July 23-Aug. 22): Stick to a fixed price. It’s fine to have aspirations, but if you cannot afford to follow through, make adjustments that fit your budget. Don’t let anger take over when being innovative is what’s required. HHH

VIRGO (Aug. 23-Sept. 22): Network, participate and share ideas and plans to see what transpires. Having a goal and taking the initiative to make it happen will promote success, as well as new beginnings. Love and romance are on the rise. HHHHH

LIBRA (Sept. 23-Oct. 22): Be careful how you handle domestic situations. You will face opposition and demanding people if you are too pushy or if you overspend. A change may not be welcome, but in the end, it will relieve stress and help you move forward. HH

SCORPIO (Oct. 23-Nov. 21): A change will do you good. Discuss personal plans with someone who is heading in the same direction. Make the most of connecting with like-minded people and developing a closer bond to someone you love. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Change begins within, so don’t rely on someone else to make changes for you. Someone who uses emotional tactics to manipulate your decisions will disappoint you. Trust in yourself and your abilities, not someone else. Truth matters. HHH

CAPRICORN (Dec. 22-Jan. 19): Pour your energy into things that matter to you. Home, family and your relationships with others should be at the forefront of your mind when making decisions that will affect how or where you live. HHH

AQUARIUS (Jan. 20-Feb. 18): Proceed with caution. You may want to make changes, but before you do, consider the outcome. Focus on how best to make a difference, not only for yourself, but for those in your community, circle or family. Do what’s right. HHH

PISCES (Feb. 19-March 20): Consider what you want. Make the changes that will represent the results you want to achieve. Be bold and ask for whatever you need to be successful. Having a solid plan will encourage others to take part and support your ideas. HHHH BIRTHDAY BABY: You are insightful, goal-oriented and proactive. You are a thinker and a dreamer.

‘gag gift’ BY DAVID ALFRED BYWATERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Some are made of logs 6 Sound of surprise 10 Angelic circle 14 Garret 15 Sch. near Pepperdine 16 Apple MP3 player 17 Post-argument small talk? (circle letter 4) 19 This puzzle’s has 78 answers 20 Alcatraz was one 21 Place to use a rake and shovel 23 Half a dozen 24 High toss 26 Less adorned 27 Extreme anxiety 29 Paper size: Abbr. 30 Steam, for instance 33 Pea impaler 35 Celebrity gossip subject 39 Once again 40 Woman in a Space Western? (circle letter 3) 41 Something to sow 42 Enter with keys? 43 Like many rooms after decluttering

4 Barking marine animals 4 45 Mythical bird 47 Speaks scratchily 49 Attacks 53 Lion sign 54 No-fly zone for a fly? 57 Finishes, as wood 59 Make beloved 61 Fuzzy fruit 62 Electoral exasperation? (letter 7) 64 On a par (with) 65 Part of QED 66 Countesses’ counterparts 67 Ending for “soft” or “silver” 68 Matched groups 69 ___ sixteen DOWN 1 Skate park constructions 2 Company building video gamethemed hotels 3 N.J. army base 4 Nervous twitches 5 Knowledge seeker 6 Feeling “source” 7 Does something 8 Many new parents could use it

9 Like these line segments: // 10 Flowers that are hard for aphids to reach? (letter 5) 11 Chef protector 12 River mentioned on Tours tours 13 More peculiar 18 Soon, archaically 22 Took a chair 25 Please: Ger. 27 Kind of dress that projects confidence? (letter 6) 28 What “explodes” in this puzzle 30 Word that surrounds “vanilla yogurt” 31 Whichever 32 Vim 34 Birth-related 36 Beverage made of dried leaves 37 Wriggly fish 38 They work with RNs 40 Territories within territories 44 Porous ocean creatures 46 Olive product 48 Witnessed 49 Somewhat crooked 50 “The Destroyer,” in Hinduism 51 System that stinks

2 Music for a movie 5 54 “___ the Champions” 55 Majestic bird 56 Northwestern French port 58 “Now!,” in a medical drama 60 Choose from a hat 63 Often-mispunctuated possessive

Solution to yesterday’s puzzle:

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Friday, February 28, 2020

A grand production to the beach M

Y niece M works and lives in the UAE, working for one of the most exclusive and expensive hotels in the region. She’s coming home next month for her annual vacation leave and, as is the usual, we are going on a fambam vacation. We had been talking about this trip since December and we were keen on going to Osaka for six days during the Holy Week break. Then the novel coronavirus (COVID-19) struck, and I was the first one to drop out from the trip. I am under the susceptible category because of my asthma, and I didn’t relish getting sick abroad, or catching any virus there that will leave me debilitated and out of commission here at home. Everyone else soon followed suit; so now we’re going to Boracay instead. It’s a good thing the Department of Tourism (DOT) along with the tourism stakeholders groups just launched a domestic marketing campaign to get locals to travel around the country. This would make up for the anticipated slow down in foreign tourists with the travel bans imposed on China, Hong Kong, Macau and, just recently, the northern province of South Korea. Or so I thought. Imagine my surprise when our favorite family resort on the island sent us a quote with much, much higher prices than what we paid last year. Sure, we’re going to the island during Holy Week, supposed to be a super peak season for local travelers, but P8,500 a night this year, versus P5,500 just two years ago during the Halloween/Undas break, or P6,900 per pax last August, on a twin-share basis? Or are resorts on the island taking advantage by imposing high season and super peak season surcharges on guests this Holy Week, making money off guests for that short period, because they expect the rest of the year to be sluggish? Before COVID-19, I recall how a number of these resort owners on the island had complained that they didn’t get as many tourists during the Chinese New Year. So I had to ask one of them, who complained about this on my Facebook post, “Then why are you still imposing a peak season surcharge?” He didn’t answer. Frankly, should any destination still impose peak, and super peak season surcharges, especially when foreign visitors aren’t expected to come in droves to our country this year because of COVID-19? DOT projects a tourism revenue loss of P38.2 billion from February to April this year, with the loss of the greater China market. As I write this, the DOT has yet to release its projection of the tourism loss from the ban on travelers from South Korea’s North Gyeongsang province. A cursory look through the domestic fun page shows only 37 hotels and resorts joining the marketing campaign directed at local travelers. Of this number, only 12 out of the 300-plus resorts on Boracay are offering discounted room rates. Which makes me, a longtime business journalist, scratch my head and wonder why would these hotels and resorts opt to sell their rooms at their high rates, yet risk minimal to zero visitors? (Belatedly I was told

the number of participants in the domestic fun promo is still growing. I certainly hope so.) I was lucky to catch a promo rate on the return airfare from Caticlan, the gateway to Boracay. Despite this, I still had to pay P6,400 in total, roundtrip, inclusive of 20 kilos luggage and insurance. I have yet to pay for land transfers which will cost anywhere from P650 to P900, one way, depending on the supplier. In contrast, a trip to Bali will cost tourists from Manila airfare of some P10,948 per person, while a highly rated three-star hotel is only P15,033 on a twinshare arrangement (or P2,077 per night) for the same number of nights of our fambam trip to Boracay. For a one-bedroom pool villa, the total cost is just P27,000 or P4,500 per night, inclusive of taxes and fees. And we’re still wondering why we could only manage to attract 8 million foreign tourists in 2019, when our neighbors are already hitting as high as 25 million a year! Let’s face it, it’s not cheap to come to the Philippines. The airfare alone is prohibitive, especially for tourists coming from the United States and Europe, whose citizens are big spenders on a per-capita basis. Then they arrive here, the hotels and resorts are too pricey for the supposed star-rated category they are in. But even for us Filipinos, it’s way cheaper to take our vacations abroad instead of choosing from any of our islands and beaches, or destinations with abundant and breathtaking sites. As my friend Marvic now living on Guam used to say, for us Filipinos, it’s always a grand production to go to the beach. If it weren’t for COVID-19, I’m pretty sure many of us would have pushed through with our trips to Hong Kong, Japan, Singapore, or other Asean destinations. I remember at one meeting in DOT a few years back, the great Dading Clemente, founder of Rajah Travel, said they were able to survive a massive tourism crisis after the People Power Revolution by cutting their rates. All stakeholders, from the

A fabulous tour of the Palace SOME of the country’s most sought-after wedding planners were treated to an exclusive luncheon and tour of Palacio de Memoria (www.casadememoria.com), the seven-story, fabulously restored prewar mansion that now functions as a one-of-a-kind heritage house, events place and art center nesting in the heart of Metro Manila. Palacio de Memoria General Manager Camille Lhuillier welcomed the prestigious Philippine Association of Wedding Planners (PAWP) with a sumptuous lunch at the Palacio’s Ambassador’s dining room and gave them a walking tour which showcased the picturesque spots, sprawling grounds and ornate features that make it a splendid choice for nuptials and receptions. One of the highlights of the walking tour was the Palacio’s grandiose foyer where the beautifully restored terrazzo floors and luxurious 6-foot Murano chandelier would make for an impeccably opulent backdrop for wedding pictorials. Members of PAWP also got the chance to take a closer look at the outdoor area, which includes a pool area with patio and outdoor kitchen that can already be a great setting for cocktails and parties. For that perfect al fresco garden wedding, there is also a sprawling garden area where couples can have the option to have the air-conditioned tent pitched. It is a gorgeous setting for stylish outdoor receptions in the summer and under the stars, and having a tent can shield guests from the rain. The Bunker Bar, located on the Palacio’s top level, is a cozy yet masculine space that is perfect for a bachelor’s party, intimate gatherings and other events that deserve a celebratory toast. Another jewel in the Palacio’s crown is

the Mosphil Lounge, a passenger plane from a now-defunct airline that flew to and from Zamboanga. It reflects the swanky and hip spirit of the 1960s and 1970s, and makes for a fun after-party place. Palacio de Memoria is located along Roxas Boulevard, Barangay Tambo, Parañaque City. Guided tours can be made by appointment.

PALACIO de Memoria General Manager Camille Lhuillier (from left) with PAWP board members Marex Gaba and Liza Alviedo

Philippine Airlines to hotels and resorts, and tour operators lowered their prices in a bid to get the tourists back. And it was a success, she stressed. COVID-19 is going to hit the tourism industry hard this year. The DOT has paved the way how

stakeholders are going to survive this crisis. The question is, are these stakeholders willing to cooperate to help lift the entire industry, or will most of them stand to one side, kanya-kanya, and see if they can rise above it on their own? n

Show BusinessMirror

Friday, February 28, 2020

Giving space for women to be strong...and scared

www.businessmirror.com.ph

The thing about Carlo Katigbak GAB FAB JET VALLE

Continued FRoM D2 odds against Cecilia and the forces amassing against her to be insurmountable—to the point where the audience is thinking: ‘How is she possibly going to get out of this?’” When Whannell finished the script, he knew he required an extraordinary actress to pull off Cecilia. “When you have a character falling off a cliff, it’s a dangerous area with acting,” he says. “It’s easy to go over the top or be too histrionic. I needed someone who could play a person losing her mind...but in a grounded way.” He found his heroine in two-time Golden Globe Award winner Moss, who brought brutal authenticity to her work on Mad Men and, of course, her current role as Offred in The Handmaid’s Tale. “She’s the sole focus of that show and has to make you believe in a heightened situation, an alternate reality,” Whannell says. “If you don’t believe that lead character, that whole show falls apart. I knew she could play this descent and give it integrity. Lizzie is the watchdog of truthfulness. If she was ever feeling like a scene was not real or a bit phony, she was resistant to it. That made us a good team.” Together, Moss and Whannell united in a vision of the film and her role. “Lizzie would push me to keep examining the dialogue and the script,” Whannell says. “And I would push her to be more physical. She was doing a lot of things that were pretty miserable.” That included shooting in the middle of winter, at 3 am with rain machines flooding. Moss would be soaking wet, while everybody else was wearing thick jackets standing under tents. “We both pushed each other,” Whannell says. “We were a true partnership on this. When you call action, Lizzie is 100 percent.” Moss believes this has been the most challenging role of her career. “It took me 10 minutes to understand Leigh’s take, and how modern and relevant this film could be,” Moss says. “I love how he upended the idea of The Invisible Man. It was one of those scripts that you read and think, ‘I wish I’d thought of that...’ It’s a great metaphor and completely relevant to our time...as well as to my time as a woman in this society.” In addition, Moss is often onscreen alone for entire scenes, playing against someone she can’t see. “There was a whole section of the film where no one was there,” Moss says. “I would turn to Leigh and say, ‘Where do you think he is?’ Whether or not my character knew where the Invisible Man was would change depending on the scene. Sometimes, I would have no idea Adrian was there; others, at some points, I would feel a presence or hear a noise or something and then would turn. “There’s a certain point where Cecilia is convinced that Adrian’s always in the room,” Moss continues. “It’s like I developed a sixth sense for where he was... but nothing was ever there. We would make it up, and we’d say he’s in this corner or coming out of that room. I’ve been doing this for 30 years and I’ve never been in that position where that was possible. Still, the idea of seeing something that nobody else can see, that’s my bread and butter. It’s what I do every day for a living.” Lensing The Invisible Man allowed Moss to reflect on the types of relationships that can be abusive or toxic. “It was important to Leigh and me that we made the space for a relationship that was not only physically abusive, but also emotionally and psychologically abusive,” Moss says. “Those types of relationships can be just as damaging. I hope that this film gives some voice and strength to people who have been through that. As women, we feel like there’s a sense of empowerment, that we’re this generation that speaks up, but I think we sometimes still judge others for staying in relationships they shouldn’t be in.” Moss concludes: “I think it’s important to give space for women to be weak. You can be strong and scared at the same time. And you can be strong and weak at the same time. You can be a feminist and still lose your voice. That’s important to remember and important to be able to see.” n Now in Philippine cinemas, The Invisible Man is distributed by United International Pictures through Columbia Pictures.

@jetvalle

IS appearance in the Senate made him a household name. But who really is Carlo Katigbak? No, this won’t be some comprehensive profile piece about who he is and what his achievements are. I will leave that to the professionals. Instead, this is how I personally see him. Almost 14 years ago, when I moved to ABS-CBN from a stable job under the office of Boy Abunda, I was entering the unknown and I was excited. I had gotten used to my job in Backroom Inc. as a publicist, talent handler and scriptwriter for a number of years which I super loved especially after I discovered the infinite possibilities it could offer. But I don’t mind venturing into the unknown. That is the only thing about me that is versa. A couple of years in ABS-CBN, I found my way to the office of Sir Carlo, or CLK (Carlo L. Katigbak). I don’t mean to pander to Sir Carlo but even when he wasn’t yet our president and CEO then, I was already surreptitiously watching him in admiration and awe. People talk about his genius and charisma. From a distance, I revered one of Philippine television’s biggest names—then and now. CLK’s genius is solidly anchored in that “simple and humble boy” who has remained whole and has not been lost in the glam of television or his job or, most notably, his lineage. He is a man who has journeyed to a lot of terrain and this has made CLK understand the intricate, amorphous, undefinable taste of Filipino TV audiences. And he is both daring and courageous in his moves. This has made him a champion of what other services, besides broadcast television, that ABS-CBN can offer, such as cable, DTT, digital, Internet, etc. He has the gut feel that is bold but he is very disciplined. But what I admire about him is that if CLK understands the art of television, he has on his palm written the art of life. And so little people have this. Back to that afternoon in his office for a meeting

(that was my first time seeing him up close and personal), he gave a lot of brilliant insights on the issue which we were there to discuss. Of course, he won’t be where he is now without those. But what I discovered behind the brilliance is a simple, charming man. He is decisive, accomplished and a genius, but he is also down-to-earth—and he is a leader who is genuinely concerned for us, his employees. After that meeting, whenever I would see him, he would greet me as if I were a long-lost relative of the Lopezes (that may be true but I think I’m more on the Jennifer Lopez side). He would engage in earnest conversation, sharing a joke or two. Of course, I will always be in awe and also terrified I might say some stupid thing, which is always the case actually—but it seems he doesn’t mind. I’m so drawn to him that if he has a fan club, I would lie, cheat, and steal to become its president, or at least its sergeant-at-arms. Now, thanks to his appearance in the Senate inquiry about the ABS-CBN franchise renewal, it

seems like I would have much competition. That many were enthralled and were drawn to him. In fact, they now call themselves “Katigbakers.” They say words about him that I 100 percent agree with: charming, truthful, intelligent, brilliant and, most important, mapagmalasakit. Scratch that. I agree with them 250 percent. Of course, social media went abuzz with his good looks. They even compare him with a certain K-drama star. That I only agree about 50 percent. Because for me, he looks more like a Pinoy version of Harry Potter. I don’t mean again to pander Sir Carlo with my comparison of him and Harry Potter. I can’t help it. I think it’s those eyeglasses he always wears. And, of course, the charm and boyish features, that flawless skin, the dapper look. But, more important, like Harry Potter who taught us that it takes genuine love for family and friends to defeat evil, I believe Carlo Katigbak would achieve the same. n

Myrtle Sarrosa begins a new chapter in her career with GMA COSPLAYER, host, singer, songwriter and actress Myrtle Sarrosa is now officially a GMA talent after she inked a management contract with GMA. Present in the contract signing were Senior Assistant Vice President for Alternative Productions Gigi SantiagoLara and GMA Artist Center Senior Talent Manager Daryl Zamora. A cum laude graduate with a degree in Broadcast Communication from the University of the Philippines Diliman, Myrtle is ready for the opportunities and experiences that will be given to her as she embarks on her journey on

GMA. She said, “I’m so excited to be a Kapuso. Everyone is so nice and they’re so warm. Masaya ako to be in a new environment. I’ve really wanted to work with GMA kasi ’yung shows na meron sila, these are the kinds of shows I want to be a part of. I can feel that GMA believes in me and I’m so happy to find people na naniniwala sa akin.” With a smile, Myrtle promises to work harder and stay focused on learning more about her craft in GMA. She is looking forward to working with GMA’s brightest stars, including Alden Richards, Julie Anne

BLIND SPOT BRUCE C.

UNEXPLAINED WEALTH

THIS young male starlet has been flaunting unexplained wealth such as a new car and so many designer items. When he was asked by his management where all the “wealth” was coming from, the starlet said it was from his savings. His management team could only raise their eyebrows because the starlet doesn’t have any regular shows, endorsements or big projects. His management said he should be careful because his name is being linked to that of another man’s, even if he is straight and has a girlfriend. The starlet said he and the guy are just acquaintances. Then, he began questioning why another actor is not being questioned about his alleged bisexuality and associations with rich gay men. The starlet has always been jealous of the actor

San Jose and Ruru Madrid. “I really want to reinvent myself and experience new things. Life is about making new memories and creating new experiences. I’m so excited for what’s yet to come,” she related. Santiago-Lara revealed that viewers should watch out for Myrtle in various GMA shows: “GMA Artist Center is very happy to welcome Myrtle in our roster of talents. She’s a versatile artist so we’re glad that she chose to join us here in the Kapuso Network. We’re also very excited because we will see her soon back on television.”

and it shows. He pointed out that the actor can get away with a lot of things while he is being questioned about “trivial” things.

SHE SAID ‘NO’

SINCE the controversial actor is single, someone in the network he belongs to thought of orchestrating a “romance” between him and his screen partner, who is newly single. It has been a while since they have done a project together and the network person thinks it’s a good idea to make their fans believe that they are an item. But here’s the thing about the actress—you can say bad things about her but you can’t ever say that she’s into fake romances. She refuses to use her love life to boost her career. The actress is still willing to work with the actor but she is quite firm in not involving their personal lives in whatever project they’re going to embark on. Also, the actress is still traumatized by her last boyfriend and his cheating ways, so she’d rather wait for romance to find her than the other way around.

HER OLD SELF

THERE really is a campaign to discredit a female starlet who is about to take on a big role. The starlet has been exposed to having had extensive surgery on her face. She actually wasn’t ugly before and was quite pretty, but the surgeries and procedures have made her into a real head-turner.

The campaign is said to be orchestrated by the fans of an actress who is very popular but whose projects have always flopped. These fans want their idol to take on the role that the female starlet has bagged. So they are bringing out the big guns, such as the starlet’s old pictures and “testimonies” about her attitude from former schoolmates and old friends. Even the starlet’s family has not been spared. Her mother has been bashed and so has her brother. The network handling the project has been spooked by all these allegations and are being very cautious about the big project.

A TERROR

WHO is the young actress asked by an older actress to make coffee for her because this is supposedly a rite of passage? The older actress, who has always been known to be feisty, has a thing about seniority and how younger stars should act. For the young actress, it is not a big deal. She has always been humble and unassuming, which is why a lot of people like her. Meanwhile, the senior actress is a character and we’re not sure if this is a good thing or not. She is a professional, for sure. She comes on time. Actually, she is on set before the call time. She is always prepared with her lines and follows the director’s directions well. She really is just a bit too haughty and despite her “terrorizing” the young actress, the senior actress really likes the girl.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong

Friday, February 28, 2020

Volkswagen Philippines and Gary Valenciano present

‘We Move You’ campaign S We Move You campaign

Story & photos by Randy S. Peregrino

INCE the formal announcement of Gar y Valenciano as Volkswagen Philippines’s newest brand ambassador, it’s only a matter of time a campaign concert would follow. True enough, the German automaker together with Valenciano, also known as “Mr. Pure Energy,” recently launched the “We Move You” campaign. Aside from the concert featuring Valenciano, the two-day event, which was held on February 22 and 23, at the Trinoma Activity Center, also showcased Volkswagen’s current lineup of vehicles. T he p a r t ne r s h ip b e t w e e n Volkswagen Philippines and Valenciano has since represented the perfect blend of one extraordinary performer, and an equally iconic automotive brand. In his 34 -year career in the music, film, and television industries, Valenciano has built a legendary reputation of a total performer. Volkswagen, on the other hand, has created and maintained a

Gary Valenciano (left) and Volkswagen Philippines President Felipe Estrella III

global heritage and tradition of manufactur ing Ger man-eng ineered automobiles designed for people and their families in the last 83 years. “The Santana, Lavida and Lamando were all designed and built utilizing the 83 years of accumulated automobile knowledge of Volkswagen. This automotive know-how has been combined with more than 30 years of ex-

Volkswagen Philippines’s display extravaganza at the Trinoma Activity Center. Volkswagen Philippines

perience in building millions of cars per year in Asia’s largest automotive market. These cars are made in automotive plants that have done the process of building cars millions of times per year for more than 30 years. It is a tried, tested, and proven manufacturing process that has given birth to the Santana, Lavida and Lamando cars that you see here. These VWs truly and absolutely embody the

‘Heart and Soul’ that Volkswagen is known for, and the Philippines is fortunate to be the only other market in Asia with access to these vehicles,” said Volkswagen Philippines President Felipe Estrella III. Estrella concluded his speech by encapsulating the shared qualities of Valenciano and Volkswagen: “Much like how Gary V makes us feel when he performs, we believe that Volkswagen vehicles have the

power to excite and energize. In a Volkswagen, you will want to move, drive and go places. With Volkswagen, We Move You.” After which, Valenciano was finally introduced as the mall goers became excited to see Mr. Pure Energy, himself, on stage. By performing several of his popular hits from the past, the famous singer’s energetic performance poured in and left everyone in awe.

As a first step to move would-be buyers and mall goers to make that decision in owning their Vol k swagen vehic les, specia l discounts were offered exclusively to the event. There was the attractive outright P90,000 discount on the Santana AT S var iant, P66,000 less on the Santana MT, and P85,000 off on the Lavida. Moreover, Seda Hotel voucher was given to every customer who secured a reservation during the event. There were also fun games held during the two-day event to keep the engagement going. As Volkswagen Philippines kicks off what promises to be an exciting 2020, the Filipino motorist can look forward to the introduction of even more premium models suited to their needs and aspirations. Premium models that will not only move them to a better motoring experience, but to life choices that will make them, and the ones they love become greater at who they are and what they do. That’s how Volkswagen empowers the Filipino. We Move You.

Moto

Business

E2 Friday, February 28, 2020

2019 HONDA BR-V 1.5 S CVT

THE PRAGM FORD EXPANDS SUV LINEUP WITH NEW EVEREST TREND

ORD Philippines is boosting its SUV lineup with the addition of a new Ford Everest variant, the new Ford Everest Trend, offering customers a new midsize SUV variant that offers great value with enhancements in its smart and safe features. The new Ford Everest Trend has a new front grille design, rear view camera, power liftgate, LED projector headlamps with daytime running lamps, and additional driver knee air bag, bringing total number of air bags to seven. “We are expanding our SUV lineup to provide customers with another reliable Ford Everest variant that suits their diverse needs and lifestyles. The new Everest Trend comes with features, such as seven air bags, LED headlamps, power liftgate, and leather seats that make it one of the most competitive and feature-packed midsize SUVs for its pricing,” said PK Umashankar, managing director, Ford Philippines.

Proven performance

THE new Everest Trend is powered by Ford’s proven 2.2L TDCi diesel engine which delivers up to 160PS and 385NM of torque. Coupled with a six-speed automatic transmission, it offers power and smooth acceleration while staying fuel efficient.

Bold exterior, refined interior

ASIDE from the new front grille design, and smart and safety feature enhancements, the new Everest Trend comes in 18-inch alloy wheels, rain sensing wipers, power folding and power adjustable mirrors with side turn indicators, side steps, roof rails, and front and rear splash guards. The Everest Trend also comes with leather seats, giving customers a more refined seating experience.

Smart and safe technology

AS a highly advanced technologyled SUV, the new Everest Trend is equipped with several driver-assist technologies (DATs) that make it a perfect match for driving in the city

while remaining a formidable force in off-road environments. For driver comfort, the new Everest Trend comes with an 8-inch color touchscreen, USB ports, as well as SYNC 3 with Apple CarPlay and Android compatibility. SYNC is Ford’s proprietary voice-activated system that allows ease of access to the vehicle’s entertainment system and connected devices while driving on the road. The new Everest Trend also boasts a handful of DATs and safety features which include Cruise Control, Electronic Stability Control with Anti-lock braking system, Electronic Brake-force distribution (EBD) and Roll Stability Control, and Hill Launch Assist.

Availability and pricing

THE new Everest Trend is available in all Ford dealerships nationwide starting February 25, 2020, with a starting retail price of P1.738 million. It comes in four colors: Absolute Black, Aluminum Metallic, Arctic White and Meteor Gray.

Story & photos by Randy S. Peregrino

EVERAL years ago, when the market’s preference started shifting toward sport-utility vehicles (SUV), Honda saw an opportunity to go where no one has gone before—build the unique seven-seater subcompact SUV. So, when Honda Cars Philippines Inc. (HCPI) brought in the all-new BR-V, the purpose was to introduce an affordable SUV in the country.

THE 2019 Honda BR-V revolves around the grand con PRACTICAL dark-themed interior

SEAOIL SIGNS PARTNERSHIP WITH OWTO

THE equally stunning rear end with stylish trims

EURO 4-compliant 1.5-liter SOHC i-VTEC engine

Since then, the vehicle was wellreceived and became one of Honda’s best-selling models. Almost 15,000 units were sold as of 2018—probably close to 16,000, if not, more than that, by now. In mid-2018, the BR-V received several enhancements, mainly exterior-wise. These changes further highlighted the vehicles’ SUV character. We are glad to feature this unique sevenseater subcompact SUV once again. Only this time, we get to try out the entry variant 1.5 S CVT dressed radiant Premium Amber Metallic shade. We can all agree that entry and mid variants are the best-selling grades in the market today regardless of vehicle segment. After all, it all boils down to price points along with what these variants have to offer. LEMUEL CO (from left), Seaoil Business Development supervisor; Jayvee de la Fuente, Seaoil VP for Corporate and Consumer Marketing; Joel Gayod, OWTO chief executive officer; and Samuel Acuña, OWTO chief operating officer

EAOIL Philippines Inc. (Seaoil), the country’s leading independent fuel player, has signed an exclusive partnership with Transport Network Vehicle Service (TNVS) company OWTO, with a co-branded Seaoil Boosted VIP card to be given to its drivers. “Seaoil continues to form new partnerships so more consumers, especially those in the TNVS industry, can enjoy more benefits when they purchase Seaoil products,” said Jayvee de la Fuente, Seaoil Philippines

VP for Corporate and Consumer Marketing. OWTO is a 100 percent Filipinoowned TNVS company, owned and operated by iPARA Technologies and Solutions Inc. The service is available in Greater Metro Manila (GMA), Caloocan, Malabon, Navotas, Valenzuela City, and in some parts of Rizal, Cavite and Bulacan. The Boosted VIP cards issued to OWTO drivers will have the highest level in the VIP card tier or Auto-Gold status, and one VIP point is equiva-

lent to one point. The cards will have an exclusive point conversion wherein P100 is equivalent to four points for gasoline, or a P4 rebate. Diesel purchases of P100 are equivalent to two points or a P2 rebate. Earned points can be used to purchase fuel and lubricants from Seaoil and may be redeemed as cash. The exclusive point conversion is available at select Seaoil outlets. Seaoil stations that are not included in the list will offer the regular Seaoil VIP point system.

‘Enhanced SUV Image’

INSPIRED by the grand concept of “Enhanced SUV Image,” exterior enhancements focused mainly on the fascia and rear end. Upfront, what’s notable is the new and larger chrome front grille. Its lower portion now has two chrome bars aligned with the shape of the bumper. Side contours are also now prominent with inserted black trim. Likewise, new fog lamp housings are now framed with chrome finishes along with surrounding dark trims. The projector-type with halogen headlights was retained. The rear end, meantime, received

a newly designed rear bumper, that matches the front end’s profile. Roof rail is still there along with door mirrors integrated with side turn signals. Those dark matte trims all over the lower panels brought out the robust aura of the vehicle. Of course, completing the exterior upgrades are the new 16-inch alloy wheel complementing the BR-V’s long and wide stance which conveys a more commanding presence.

Surprisingly roomy

INSIDE is where BR-V’s combined practicality and versatility lies, as well as its highpoints. Here is where Honda hit the nail on the head when they presented this vehicle as a unique seven-seater subcompact SUV. Why? Simply because there are just a few out there that offers this kind of setup, at least for a small SUV. More important, that third row has the space to boast about thanks to the sliding 60:40 split second-row seats. The section also has bottle/cap holders and armrest on each side plus safety belts. The dark-themed cabin has few accents, which is fine, to match the onthe-go appearance. Those contoured and well-padded seats, draped with dark fabric, are comfy, as well. There’s a 7-inch Capacitive Touchscreen Display Audio with telephony function and audio connectivity. Moreover, there are plenty of cup and bottle holders inside. We only wish that there were more

EASY access to spacious third row

12-volt sockets for gadget charging. But that’s an easy fix.

Smooth operator and easy to drive HONDA retained the thrifty Euro 4-compliant 1.5-liter SOHC i-VTEC gasoline engine. Well, why change if this small engine does the job done. In fact, you’ll be surprised how smooth it accelerates within city speed limits as if the car is lighter than it is. Its 118 hp and 145 N-m of maximum torque are just enough to deliver balanced power and efficiency. Another factor is the coupled CVT’s seamless cogs. But on highways, with heavier loads and at high-speed limits, the need to push to higher rpm ranges was necessary but still manageable. In terms of ride quality, it leans toward comfort with

oring

sMirror

Friday, February 28, 2020

MATIC SUV

MOTORCYCLE TAXIS: ON THE ROAD TO LEGITIMACY

THE motorcycle taxi bill that recently passed the Senate Committee on Public Services was principally authored by Sen. Ralph Recto, with Sen. Grace Poe as the principal sponsor. By George Royeca

ncept of ‘Enhance SUV Image’

THUMBS UP

manageable tire rebounds. Never think that the longer wheelbase and overall length of the vehicle mean that it’s less nimble because you’ll be surprised by how this subcompact SUV behaves on the road. Despite the higher ground clearance, it still drives good on curves. Much more than it’s also easy to maneuver swiftly, whenever needed, on tight city traffics thanks to its light and responsive steering. As for the air-con, the manually controlled function still provided cold cabin temperature with the help of the ceilingmounted air blowers in transferring cool air at the back.

Reliable safety and convenience features SAFETY-WISE, the BR-V is rein-

forced with Honda’s G-force Control (G-CON) Collision Safety Body. It dissipates G-forces in the event of a crash and diffuses the force away from the passengers on impact. Other standard safety features available are the driver and front passenger SRS air bags, Anti-Lock Braking System (ABS) with Electronic Brake Force Distribution (EBD), and Isofix Anchors for child seats. What is more, there are Hill Start Assist (HSA) and Vehicle Stability Assist (VSA) to give you further peace of mind. For an entry variant, these topend features are considered a bonus. Meanwhile, parking is made easier with a reverse camera. Let’s not even forget that this model also earned a five-star rating for the Asean NCAP in the Adult Occupancy Protection (AOP) category.

The ideal SUV for practicality and versatility

UNDOUBTEDLY, BR-V is a perfect choice when it comes to practicality and versatility. You see, bigger SUVs is not always the solution to obtain more passenger seats. With the right cabin configurations, even a small SUV can deliver wonders in creating extra seats for more passengers. More so, even for an entry variant, Honda still leaves an excellent option to favor affordability without sacrificing reliability and safety.

n Enhanced exterior design n Seven-seater setup n Head and leg rooms n Easy to drive n More safety features in an entry

variant

THUMBS DOWN n Lack of illuminated indicators (center

console) n Single 12-volt socket for gadget charging

SPECIFICATIONS n Vehicle 2019 Honda BR-V 1.5 S CVT n Type Subcompact SUV n Engine 1.5-liter, inline four-cylinder,

SOHC i-VTEC, petrol fed n Maximum power 118hp at 6,000rpm n Maximum torque 145N-m at 4,600rpm n Transmission CVT with Earth Dreams Technology

DIMENSIONS n Length

4,453 mm

n Width 1,735 mm n Height

1,666 mm 2,662 mm n Ground clearance 201 mm n Wheelbase

EING the first mover in a new industry category is never easy. The process of setting up an infrastructure alone can be terribly daunting. However, nothing can be more challenging than getting through regulatory impediments, especially since the motorcycle taxi industry does not have an existing regulatory framework to begin with. This is the exact reason I appreciate the valuable support of esteemed legislators who sincerely believe that it is high time for motorcycle taxis to be legalized and regulated in order to provide the much-needed transport option to our commuters. Of the many legislators who have expressed their support toward the legalization of motorcycle taxis, both from the House of Representatives and the Senate, three names stand out— Sens. Ralph Recto, Grace Poe and Bong Go. The motorcycle taxi bill that recently passed the Senate Committee on Public Services was principally authored by Recto, with Poe as the principal sponsor. Go, in turn, is a coauthor, together with nine other senators. As a show of support, Sen. Juan Miguel Zubiri, in turn, filed a motion for all 24 senators to coauthor the bill. This is a groundbreaking motion for an equally groundbreaking bill that calls for the timely legalization and regulation of motorcycle taxis. With the passing of the Recto-Poe bill, motorcycle taxis are just a few steps away from true legitimacy—something that our struggling commuters and bikerpartners truly need. In his privilege speech, Recto described his belief that motorcycle taxis are the single most important factor in easing our countrymen’s commuting woes, particularly in the metropolis. Here is a short excerpt of Recto’s privilege speech: “Throughout history, legislation has always marched behind technology. It has always been innovation first, regulation later. And, most often, government’s intervention follows this Reagan doctrine: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. And when confronted with something new or unfamiliar, toy

with the idea of prohibiting it. In the case of airplanes, it did not have a smooth takeoff as a sanctioned passenger carrier. Like biplanes flying through the clouds then, it met turbulence along the way to being permitted by the government to fly paying human cargo. But you know what: From trains, to planes, to automobiles, it was government regulation that made them safe through the years. And such, and I say this with certainty, will be the case of motorcycle taxis. This bill, condensed from five measures, bravely confronts a phenomenon that is here and now. This is not about merely ratifying what is already existing. The act of Congress to permit and regulate what is now in operation is not a fait accompli. On the contrary, this bill and the implementing rules it would birth, would improve the status quo, resulting in a public transport that is safe for the driver, the passenger and other users of the road.” In her sponsorship speech, Poe also acknowledged the crucial role of motorcycle taxis in our society. Herewith is an excerpt of that speech. “Legalization and regulation will help address safety risks present in both registered motorcycles-for-hire and the ‘colorums’ or habal-habal. It will also improve commuter welfare by giving them the option to choose legitimate ser vice providers which will then encourage the habal-habal drivers to migrate to a regulated system in order to improve their services. Regulation also entails accountability. Like all other publicutility vehicles, we will require drivers to undergo rigorous training, strictly regulate those who will be allowed to drive motorcycle-for-hire services and ensure that only up-to-standards motorcycles will be utilized. Katulad rin ng ibang mga pampublikong sasakyan, kadalasan ay hindi ang sasakyan mismo ang problema kung hindi ang mismong mga drivers. At least 10 other countries— France, Thailand, Indonesia, India, Vietnam, Cambodia, East Africa, Nigeria, Brazil and Mexico—already legalized their motorcyclesfor-hire. This global trend shows that motorcycles can be safe given a properly implemented regulatory framework which puts safety as its top priority. The optimal track of course

is to always push for better mass transportation system. Pero habang hindi pa natin napeperpekto o naaayos nang mabuti ang ating mass transportation, ang ating mga bus, ang ating train system, ay kailangan ng alternatibong pampublikong masasakyan ang ating mga kababayan. Ano na, 2020 na. It is about time that we harness the power of technology to help us address mobility issues. In terms of numbers alone, shared motorcycles are an untapped resource that we should take advantage of.” Go, in his coauthorship speech, echoed the sentiments of the two senators—that motorcycle taxis are needed by our commuting countrymen in order to alleviate their daily struggles in going to and from work or school. Here is a short excerpt of his speech: “Bilang rider, ng scooter nga lang, gusto ko po sanang gamitin ang pagkakataong ito para magpasalamat sa ating mga riders sa kanilang kontribusyon sa pagpapalago ng ating ekonomiya at sa kanilang tulong para magsilbing alternatibong transportasyon sa panahon ng ating pangangailangan. This proposed measure will help thousands of previously unregulated habal-habal drivers in our country by enabling them to become part of the formal economy. I support the passage of this measure in the name of public interest, and the safety of the riders. With that, I call on my fellow senators to amend Republic Act 4136, or the Land Transportation and Traffic Code of 1964, and to allow the operation of motorcycle PUVs here in the country. Rather than banning and declaring motorcycle for hire as illegal, the State should regulate the use of such vehicles to make sure that it becomes a safe and sustainable option for transportation not only for commuters, but also for the riders and pedestrians. I commend the good sponsor for pushing for this legislation. And allow me to also convey at this point my intention to become coauthor of this proposed measure.” I am grateful for the support of legislators, who have gone out of their way to ensure that Filipino commuters are given an alternative mode of transport. I am hopeful this is the year for motorcycle taxis to be finally legitimized.

Motoring BusinessMirror

E4 Friday, February 28, 2020

As Honda closes shop, Toyota treks on mightily

N the interest of our auto workers, I pray labor laws were properly observed after Honda decided, rather abruptly, to stop production of its BR-V and City models. Always, our personnel would be the hardest hit, financially, whenever a company closes shop. The owners will hardly feel the pinch.

Will Labor Secretary Bebot Bello please look into the welfare of the 400 or so displaced employees?

Ty’s touching speech

THE following is the speech of Alfred Ty, the chairman of Toyota Motor Philippines, during the turnover

ceremonies making Atsuhiro Okamoto the successor of Satoru Suzuki as president of TMP: “In behalf of the entire Team Toyota Philippines, allow me to extend my sincerest, and most heartfelt, appreciation for your past and continuing support through the years.

“We are very grateful that you have made Toyota a part of your life. “We thank you for allowing us to take you to work everyday; to rush you to the hospital to deliver your firstborn; to take your kids to school everyday; to take you to church on your days of worship; to get you to your family reunions and that all-important date with your significant other. “Maraming, maraming salamat po. We are truly happy that you have chosen Toyota not only to move your life but also to be your friend for life. “Because of your unwavering support and friendship, we have been able to remain true to our promise of service to the Filipino and the Philippine nation. “Since our start of sales in 1989, we delivered a total of 1.7 million Toyota vehicles to your homes and businesses. We are truly humbled that you have made us your automobile of choice. “In our first 20 years of service, we sold an average of 30,000 vehicles per year. In the last 10, that number has grown almost four times to 114,000 units a year. And last year alone, we delivered 162,011 Toyota cars, SUVs, passenger vans and commercial vehicles to your homes. Again, we thank you sincerely for choosing Toyota.

“To meet your growing mobility needs, we invested—and continue to invest—in the Philippines. Over 30 years, we have made cumulative investments of P64 billion. “Most recently, we committed P5.42 billion under the Comprehensive Automotive Resurgence Strategy [CARS] of the government, to assure our competitiveness as an automotive production base in the region. “Let me take this opportunity to thank the government for the chance to help grow the industrial and manufacturing capability of our country. Indeed, we are firmly committed to deliver on our shared goals, with your continuing support. “As a result, we now employ over 55,000 Filipino men and women—directly and through our network of Toyota dealers and local parts suppliers. “In 2019, we paid P46.8 billion in various taxes and duties toward national development, or a cumulative amount of P384 billion since we started operations in the Philippines. And, we have exported close to $1 billion of auto parts annually. “These contributions to nationbuilding are made possible by your trust in Toyota. However, I must also take a moment to acknowledge the leadership of the man who steered

Toyota in the Philippines over the past four years: Mr. Satoru Suzuki. “Having previously served as head of Marketing Planning, he was no stranger to this country when he took on the role of president of Toyota Motor Philippines. “When he came on board in 2016, he led Toyota and the auto industry to record sales. This elevated the Philippines to the rank of third-largest market for Toyota in the Asean and ninth largest in the world. “By his unshakable belief in the ability of Filipinos to build world-class cars, he initiated and persisted in realizing our enrolment in the CARS program. He also committed himself and the company to uplifting the lives of Filipinos. During his four-year term, he oversaw the graduation of over a thousand skilled auto technicians from the TMP School of Technology. “And, as a culmination of all his efforts toward No. 1 quality in all aspects, TMP was awarded the Total Quality Award of the Philippines. Indeed, the achievements of the past four years are a testament to his strong and caring leadership. “Please join me in offering a warm round of applause for Mr. Suzuki. “Suzuki-san, domo arigato gozaimashita. Maraming salamat po.

“As we bid farewell to Mr. Suzuki, it is my pleasure to welcome and introduce to you our new president of Toyota Motor Philippines: Mr. Atsuhiro Okamoto. Mr. Okamoto brings with him a very youthful and forward looking leadership that, I believe, is most needed at this time of motorization for the Philippines. “A seasoned veteran, he served in various roles in both Toyota and Lexus over the past 28 years. We look forward to more vibrant and exciting times ahead under his leadership. “Ok amoto -san, welcome. I promise you, it is more fun in the Philippines. “In closing, allow me to once again thank all of you for believing in Toyota. We look forward to many, many more years of partnership and friendship with you. “Once again, thank you. Please enjoy the rest of your evening.” What a soulful speech, indeed.

PEE STOP TMP’s Sherwin ChuaLim, hotelier Elton Tan, Lexus legend Danny “Sir John” Isla and myself enjoyed every minute of our round during the recent Lexus Cup at its traditional home, Santa Elena in Cabuyao, Laguna. Said Lexus President Raymond T. Rodriguez: “Till next year as we pledge to have a bigger, more thrilling event in 2021.”

A journey through passion and beauty

N annual appointment, that of Enzo Ferrari’s birthday on February 18, becomes yet again the occasion for a new exhibition at the Enzo Ferrari Museum in Modena. “Ferrari Grand Tour, a journey through beauty and passion” celebrates the international vocation and boundless fame of a marque that has dominated the world scene with unparalleled styling of its cars from the very early days. The main protagonists of this particular journey are some of Ferrari’s most elegant Grand Tourers; cars that not only won the

hearts of high-profile celebrity clients, but are also linked to the world’s most fascinating cities. The journey takes visitors through five multimedia arches representing five different cities: Paris, London, New York, Shanghai and Abu Dhabi. Thanks to a mix of images and audio, the arches create an immersive visitor experience evoking Ferrari’s connection with each of the cities and their geographical region. Each arch lies at the center of waves of energy which contextualize each of the individual cars.

The Paris arch opens the area devoted to Europe. The “Ville Lumière” and its International Motor Show have provided the backdrop for many pivotal moments in the marque’s production history. In 1949, for instance, they hosted the debut of the 166 Inter Touring, a coupé clad in magnificently spare lines that made a huge impact for the marque and can be seen in the exhibition. Many other memorable unveilings followed, not least that of the 1954 Ferrari 375 MM, a one-off commissioned from Pinin Farina by Roberto

Rossellini as a gift for his wife Ingrid Bergman. With their heady mix of avant-garde and tradition which continue to flourish in motorsport temples of the likes of Goodwood , the United Kingdom has always rewarded Ferrari’s cars with starring roles. In the exhibition we find, for example, the Ferrari 330 GT 2+2, a coupé powered by a front-mounted V12 and immortalized in front of Westminster in 1964, when Col. Ronny Hoare’s Maranello Concessionaires presented it to its clients.

Black Rhino stages Overland Xpo

AST February 8 to 10, over 200 rigs participated in the 2020 Overland Xpo held at Botolan, Zambales, near the crater of Mount Pinatubo. The event, organized by the Mototesto Overland Off-Grid Expedition Group, was a gathering of adventure seekers and 4x4 enthusiasts to test their vehicles, and equipment, for reliability and self-sufficiency. The term “Overlanding” is derived from the Australian term which means herding livestock over very long distances. Today, it’s a hobby where one prepares for selfsufficient long-distance travel, where the journey itself is part of

the adventure. The Black Rhino Adventure Team, headed by Sam Liuson, participated in this year’s event to showcase the capability and performance of Black Rhino OffRoad Wheels and Nitto Tires. “This is the perfect event to do real-life testing of our products. It’s a combination of long-distance freeway driving, tricky off-road terrain plus a few river crossings. You have to be confident with your wheels and tires to go on an adventure like this,” said Liuson, also president of Black Rhino Wheels-Philippines. “Our R&D [research and development] is not just done at

the laboratories and factories, but also in the great outdoors. This year, we tested three sets of Nitto Exo Grapplers which are over five years old, and in varying degrees of wear and tear. The Nitto Exo Grappler AllWeather tires are rated between All-Terrain [A/T] and Mud-Terrain [M/T] tires, and they performed really well in the different terrain. It goes to show that not all tires necessarily expire after five years from the production date, as long as they are stored and maintained properly,” added Liuson. “We invite everyone to join our future events and experience

the adventure” said Tim Tuazon of Mototesto. “Part of the fun is also the camaraderie and, of course, the food!” exclaimed Tuazon. Their group has been organizing the event on its fifth year already and overlanding is surely here to stay in the Philippines. For those who wish to learn more about overlanding, visit the Overland Philippines page on Facebook. This event was supported by Black Rhino Offroad Wheels, Nitto Tires, Koni Suspension, Adventure Kings, Mammoth Overland Equipment, Big Dawg Outfitters, Line-X, Decathlon, ADV Outfitters and many more!