BusinessMirror January 06, 2020 by BusinessMirror

INFLATION SEEN BACK IN TARGET RANGE By Bianca Cuaresma @BcuaresmaBM

Vegetables are arranged in a stall somewhere in Manila in this BusinessMirror file photo. Inflation is expected to return to the target range by the last month of 2019, an analyst said. NONIE REYES

HE country’s inflation rate will likely end the year back within the target range in the last month of 2019, a local economist has forecast. According to Security Bank economist Robert Dan Roces, the country’s inflation will likely hit 2 percent in December, accelerating from the 1.3 percent seen in the previous month. Roces said the month-on-month price uptick stems from the steady price growth trajectory amid higher demand for select commodities during the holiday season, plus electricity and fuel price changes. “We see an uptick in prices for selected

food items, as well as alcoholic beverages and tobacco, and upward price adjustments in electricity rates [due to a higher generational charge] plus uptrends in diesel, gasoline, and kerosene prices,” Roces said. “Rice prices have been relatively stable with the fulfillment of shipments for imported rice, plus the end of the harvest season that ensures more than enough supply in the market,” he added. The economist’s forecast puts the country’s average inflation to 2.5 percent, well within the 2-4 percent target range for the year. Inflation started above target range at 4.4 percent in January 2019, as the country was reeling from the unexpected rise of the prices of oil and rice in 2018. It gradually went

Monday, January 6, 2020 Vol. 15 No. 88

Govt tracks price hikes amid Mideast tension T

By Elijah Felice E. Rosales @alyasjah & Samuel P. Medenilla @sam_medenilla

HE country’s trade chief has warned that the brewing geopolitical tensions in the Middle East could put pressure on producers to increase their prices, as world oil rates surged on Friday after a United States strike killed an Iranian military leader and Iran vowed retaliation.

Trade Secretary Ramon M. Lopez told reporters that suppliers of basic goods have yet to petition for a new round of price hikes this year, but the escalation of the situation in Iran and Iraq, two major oil producers, could affect Philippine fuel

rates and compel manufacturers to increase their prices. Friday’s spike in oil prices following the heightened tensions after the US attack also sparked fresh calls for the Philippines to be ready to move to safety thousands of

overseas Filipino workers (OFWs) in the Middle East who might be affected by the brewing new crisis. See related story on A8. This, as a local labor group also urged government to suspend the new round of taxes for fuels— which

down to 2.7 percent in the middle of the year and then below target to 1.3 percent at the latest in November. The BSP, however, forecasts a slightly lower inflation average for the year. In their last monetary board meeting, BSP officials said they have retained the 2.4-percent inflation forecast for 2019. This means that inflation should hit somewhere between 1.3 percent and 1.7 percent. For both 2020 and 2021, inflation projection has been set at 2.9 percent. BSP Governor Benjamin Diokno earlier said the balance of risks to the inflation outlook continues to lean slightly toward the upside in 2020 and toward the downside in 2021. See “Inflation,” A2

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PSE CUTS 2020 CAPITAL RAISING GOAL TO P150B

By VG Cabuag

took effect on January 1, 2020, as part of the Tax Reform for Acceleration and Inclusion (TRAIN) Law—to “cushion” the expected surge in its prices in the international market amid the escalating tension between the United States (US) and Iran in the Middle East. “There is no [local] increase, yet. If the conflict in Iran escalates, it will affect oil prices and that’s the uncertainty now. That’s beyond our control,” Lopez explained on Saturday.

HE Philippine Stock Exchange (PSE) Inc., the operator of the equities trading market, has reduced its capital-raising target to just P150 billion in 2020 after years of being unable to reach its P200-billion full-year target. In 2019, capital raised through the PSE only reached P95 billion as companies preferred raising capital through bonds with the relaxation of rules by the Central Bank. In 2018, capital raising at the PSE reached P187.84 billion. “But we have to review our listing rules [in order to attract fund raisers],” PSE President and CEO Ramon S. Monzon said. “Our mandate is to help companies raise capital. But we have listing rules, and those things cost money. We’ll have to think about how to properly reach the optimum balance of raising capital and investor protection,” he said. A Bangko Sentral ng Pilipinas regulation issued in August 2018 had made it easier for companies and banks to raise capital through bond and commercial papers issuance. The BSP earlier said they are treating lenders like any other nonfinancial corporates, in which a bond can be issued by a bank following the bond issuance rules of the Securities and Exchange Commission (SEC). As a result, listings at the Philippine Dealing and Exchange Corp. already reached P138.69 billion even before the first half of 2019, with BDO Unibank Inc. and SMC Global Power having the biggest listings.

See “Price hikes,” A2

See “PSE,” A2

“There is no [local] increase, yet. If the conflict in Iran escalates, it will affect oil prices and that’s the uncertainty now. That’s beyond our control.” —Lopez

2020 budget signing seen boosting PHL growth

ADB projects approved in Duterte time nearly doubled By Cai U. Ordinario @caiordinario

ROJECTS approved by the Asian Development Bank (ADB) in the first three years of the Duterte administration nearly doubled compared to those approved in the previous administration. Data available on the ADB web site showed over $7 billion or P371 billion worth of projects and programs to be financed by loans and grants were approved from the time the Duterte administration assumed office in 2016 until December 2019. The estimate does not yet include projects approved by ADB that were meant to be implemented regionally and/or in multiple countries, including the Philippines. In previous administration, the projects and programs approved by ADB only amounted to over $4 billion or around P220 billion between July

PESO exchange rates n

2010 and December 2013. The biggest project approved under the Duterte administration is the Malolos-Clark Railway Project—at $4.69 billion, the ADB’s largest undertaking in the country. Under the previous administration, the largest projects approved were the Social Protection Support Project worth $801.1 million and three projects focused on the recovery and rehabilitation of areas affected by Supertyphoon Yolanda, $503.89 million. The ADB has indicated it intends to increase project financing for the country. This has already been observed in the ADB’s new Country Operations Business Plan 2020-2022. Based on the plan, ADB’s lending and non-lending program for the Philippines could reach $10.67 billion or P554.89 billion between 2020 and 2022. See “ADB,” A2

@villygc

CRAZY NORMAL Sunday traffic is heavy on Edsa, as the volume of private and public vehicles returned to congestion levels, with thousands of people returning to Metro Manila after a long vacation. The congestion is expected to worsen on Monday (January 6), when most schools reopen after the long Christmas season. NONOY LACZA

AW M A K ER S on Sund ay said the expected signing of the proposed P4.1-trillion General Appropriations Act today (Monday) by President Duterte will help the government boost the country’s growth momentum. House Majority Leader Martin Romualdez said the 2020 national budget was crafted to attain a much better economy to make comfortable the life of Filipinos by hitting “A” credit rating before the President steps down in 2022. The presidential signing ceremony of the 2020 national budget will take place at 4 p.m. at Rizal Hall, Malacañang. See “Budget,” A8

US 50.6460 n japan 0.4666 n UK 66.5539 n HK 6.5030 n CHINA 7.2722 n singapore 37.5796 n australia 35.3813 n EU 56.5766 n SAUDI ARABIA 13.5034

Source: BSP (3 January 2020)

News

BusinessMirror

A2 Monday, January 6, 2020

‘Enforce escrow requirement for Kuwaitis hiring HSWs’

By Samuel P. Medenilla @sam_medenilla & Jovee Marie N. dela Cruz @joveemarie

Calderon noted the government should also insist on the recognition of the employment contract stipulated under the 2018 MOA by the Kuwaiti government and employers. Overseas Workers Welfare Administration (OWWA) administra-

tor Hans J. Cacdac said implementation of the employment contract is still in limbo after the Kuwaiti government failed to honor its commitment to meet with labor officials last year for its completion. “The Kuwaiti [government] in a series of press statements on October and November [2019] said it is not right for the Philippines to insist on a separate contract to implement the May 2018 [MOA] contract because there is a unified contract involving all nationalities of domestic workers in Kuwait. They [asked] why should the Philippines [contract] be any different,” Cacdac said. Meanwhile, a lawmaker has called for a mechanism by which relevant agencies can quickly look into reports of distressed OFWs, especially those in “life and death” situations. Rep. Ronnie Ong of Ang Probinsyano Party-List said the killing of Villavende could have been averted if there is a system set in place to immediately look into reports of distressed OFWs. Citing reports, Ong said Villavende managed to plea for help but not one responsible government agencies had received such complaint and responded quickly enough to initiate a possible rescue or at least verify her actual situation. “We must correct the inaction. There is already a history of killings in Kuwait. There is a large concentration of OFWs. The recruitment agency, POEA, embassy, the Filipino Center and OWWA should look into this. If only there is a quick mechanism to check on complaints of OFWs like Villavende, she would still be alive by now,” Ong said. According to reports, Villavende was already dead when her employer, who reportedly works at Kuwait’s Ministry of Interior, brought her to a hospital. Under the present setup, Ong said recruitment agencies are required to submit within five work-

the securities borrowing and lending and short selling. “With the implementing guidelines on short selling in place, we look forward to more robust activity in the stock market. The Commission, however, notes that it shall not balk at exercising its authority to suspend or prohibit short selling in an exchange when necessary for the protection of investors,” SEC Chairman Emilio B. Aquino said. The SEC is also seen releasing the amendments on the implementing rules and regulations (IRR) of the Real Estate Investment Trust (REIT) Act of 2009.

The proposed amendments will relax the minimum public-ownership requirement, require the reinvestment in the Philippines of proceeds realized from the sale of REIT shares or other securities, enhance controls over related party transactions and impose administrative sanctions for violation of the applicable laws, rules and regulations. “The proposed amendments align with our mandate to promote the development of the capital market toward the democratization of wealth and broadening of participation in the ownership of enterprises,” Aquino said earlier.

The price of international benchmark Brent oil nearly touched $70 per barrel after the Pentagon reported US President Donald J. Trump authorized the air strike against Soleimani at Baghdad’s airport. Further, American benchmark West Texas Intermediate went up over 3 percent to settle at $63.05 a barrel. The immediate price surges were among the highest since the attack on Saudi oil installations in September that temporarily erased 5 percent of the world’s oil supply. Ayatollah Ali Khamenei, Iran’s supreme leader, vowed there will be consequences for the death of Soleimani. In a statement, he said the general’s “departure to God does not end his path or his mission, but a forceful revenge awaits the criminals who have his blood and the blood of the other martyrs last night on their hands.” Anticipating retaliation, the US State Department called on American citizens to depart Iraq and the region immediately. It also said all consular operations of the US Embassy in Iraq has been suspended due to attacks—allegedly by Iran-backed militia attacks—on the diplomatic office’s compound. As such, it advised US citizens to stay off the embassy’s vicinity.

Suspend fuel tax

HE recent death of another overseas Filipino worker (OFW) in Kuwait has prompted the Philippine Overseas Employment Administration (POEA) to revive its bid to implement the escrow requirement for foreign employers of Filipino household service workers (HSW). In a radio interview, POEA Administrator Bernard P. Olalia admitted they were unable to pilot test the policy contained in POEA Memorandum Circular (MC) 10-A last year upon the request of the Kuwaiti government, which sought more time to implement it for all foreign recruitment agencies (FRA). “So for this year, we will look how we could implement the escrow deposit not only for Kuwait but for all country destinations,” Olalia said at the weekend. The Labor department had admitted last week that certain provisions of the May 2018 memorandum of agreement between the two countries—which resulted in the lifting of a deployment ban Manila had issued with the killing of OFW Joana Demafelis—were not yet being implemented. The POEA’s pitch for an escrow rerquirement came on the heels of a partial deployment ban for newly hired HSW bound for Kuwait, a ban pushed by the DOLE after the killing of another Filipino maid, Jeanelyn Villavende, allegedly by her employers. The partial deployment ban is project to affect at least 10,000 aspiring newly hired HSWs, who are bound for Kuwait in the first quarter of the year.

Unimplemented provision

Under MC 10-A that arose from the May 2018 Philippine-Kuwait

PSE. . .

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Listings at PDEX ended the year at P336.67 billion, one of its highest. Meanwhile, there were only four initial public offerings at PSE in 2019. These were the P4-billion offering of Axelum Resources Corp., the Villar’s P12.97-billion offer of All Home Corp., the P896-million offer of Fruitas Holdings Inc. and the P384.76 million offer of Kepwealth Property Philippines Inc. This year, the PSE said it is optimistic on having more volume after the SEC approved the rules and guidelines for

Price hikes. . . Continued from A1

Lopez disclosed that Cabinet officials are scheduled to meet on Monday (today) and said the issue on Iran might be discussed on the side. Either way, he said the government is positioning the country’s oil inventory to prepare should tensions in the Middle East worsen. “Nevertheless, the preparation there and the best you can do is positioning of supply, and you can position only to a certain extent. You cannot stockpile your inventory. It’s a relief that when the Saudi facilities were bombed, prices did not skyrocket,” Lopez said, referring to the attacks in September that damaged two oil installations in Saudi Arabia. “We were assured that we have stock, [and] we just need that kind of assurance from the other suppliers. As long as that assurance is missing, you are just like other countries vulnerable to the world oil price [changes],” the trade chief added. Last Friday (January 3), oil prices jumped and stocks declined following the killing of Maj. Gen. Qassem Soleimani, head of the Iranian Revolutionary Guards.

Memorandum of Agreement, FRAs are supposed to have an escrow fund of at least $10,000, or even as high as $50,000. “This [escrow] will pay for the monetary claims or unpaid benefits our HSWs should get if their employers refuses to pay them their claims,” Olalia said. In a statement, recruitment consultant Emmanuel Geslani blamed the non-implementation of the escrow requirement for the tragic fate of Villavende. He this “allows FRAs to completely ignore many complaints of the HSWs” since they have no financial investment in the country to answer for the legal and valid claims for violations of the employment contract of their worker. Kabalikat ng Migranteng Pilipino Inc. (KAMPI) President Luther Calderon, however, said the escrow is not a sufficient deterrent for abuses of HSWs in Kuwait. “The abuses will continue. The only plus there is the workers are assured of compensation,” Calderon told the BusinessMirror in a SMS.

Controversial contract

As part of the country’s options in dealing with fresh volatility in the global oil markets following the Mideast tensions, the government was urged to halt the fuel taxes to “cushion”the expected surge in global prices. In a statement, Bukluran ng Manggagawang Pilipino (BMP) Chairman Leody de Guzman said President Duterte must issue an order suspending the third tranche of excise taxes on petroleum products under the TRAIN fuel tax package and the value-added tax on fuel. “Majority of Filipinos live in poverty. Any increase in prices would be harsh, if not fatal, not only to four-tenths of our labor force that belong to the informal economy but also to those in the formal sector who are already suffering from stagnated and starvation wages,” de Guzman said. He said Duterte should no longer wait for oil prices to exceed $80 per barrel, the threshold set by the TRAIN law for suspending excise taxes. “The President should quit dilly dallying and immediately issue an executive order that will suspend the collection of excise and valueadded taxes on oil to avert inflationary impacts on commodities,” he added.

ing days a report to the POEA on cases of significant incidents involving OFWs. “Five working days? The POEA policy should be changed and matters of life and death must be treated by the government with extreme urgency and must be coordinated the soonest possible time, without delay at any hour of the day,” Ong said. It was learned that the victim repeatedly asked her recruitment agency for help as early as September 2019. She also asked for the agency to repatriate her because of maltreatment and underpayment of salary by her employer. However, the recruitment agency failed to act.

Criminal liability

With this, Ong said he would file a bill imposing administrative and even criminal liability on the operators of recruitment agencies and on responsible officers in government offices for delay, negligence and failure to urgently report and act on complaints of OFWs in life and death situations. “This cycle of violence will only stop if these abusive employers know that our government is constantly looking after the welfare of our OFWs. Through the bill, we can instill that urgency in them,” Ong said. Earlier, House Committee on Labor and Employment Chairman Enrico A. Pineda of 1-Pacman said the House will probe possible violations of the May 2018 Philippines-Kuwait MOA. According to Pineda, the agreement requires the two countries to uphold ethical recruitment policies, systems, and procedures for the recruitment and employment of domestic workers subject to their laws and regulations. He said it requires employers to provide food, housing and clothing to their workers, and for the countries to take legal action against erring employers.

ADB. . .

Continued from A1

The amount includes financing for firm and standby pipeline of projects to be funded by lending, as well as various forms of technical assistance to be extended in the next three years. On top of the projects solely intended for the Philippines, the ADB has also included the country in 16 regional technical assistance projects which are expected to amount to $60.5 million in the next three years.

Overseas impact

Aside from its local effect, some migrant advocates also expressed concerns on the impact of the US-Iran conflict to Filipinos abroad. The Federation of Free Workers (FFW) joined the Trade Union Congress of the Philippines (TUCP) and other members of the labor coalition, Nagkaisa, in appealing to the government to disclose its repatriation or evacuation plan for Filipinos, who might affected if the US-Iran conflict spreads to other neighboring countries in the Middle East. Caloocan Bishop Pablo David condemned the provocative US attack, which he said may lead into another global war. “Nobody, as in nobody, stands to gain from the assassination of Iran’s Maj. Gen. Qassem Soleiman, except the global arms dealers who need to stoke up international conflicts and instigate wars to boost up their arms industry,” David said in a statement. Balanga Bishop Ruperto Santos said he is also against the eruption of yet another war. “War just creates destruction and death. There are no victors in war, just victims and [it could] lead to a cycle of hatred and violence,” Santos said.

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Stronger programs to counter HIV cases’ spike pitched by Win

MID the spike in human immunodeficiency virus (HIV) cases nationwide, Sen. Win Gatchalian is urging the Department of Health (DOH), the Department of Education (DepEd), and the Commission on Higher Education (CHED) to strengthen interventions protecting the youth from sexually-transmitted diseases, as part of the full implementation of the Philippine HIV and AIDS Policy Act of 2018 (Republic Act 11166). At the end of 2019, the DOH’s Epidemiology Bureau reported that 36 new cases were recorded per day, higher than the 35 new cases recorded in July 2019 and the 32 cases documented every day in 2018. A 2019 report by the Joint United Nations Programme on HIV and AIDS (UNAIDS) revealed approximately 77,000 people are living with HIV in the Philippines, more than 19,000 of whom belong to the 15-24 age group. The UNAIDS also identified the Philippines as the country with the fastest-growing number of HIV cases. Between 2010 and 2018, new HIV infections spiked from nearly 4,400 to more than 13,000, or 203 percent. Among these new infec-

DFA. . .

Continued from A8

The drone strike also killed several officials from Iraqi militias backed by Iran. Among them were Abu Mahdi al-Muhandis, a top commander of the Popular Mobilization Forces, an umbrella group of Iraqi militias, and the group’s public relations chief, Mohammed Ridha Jabri. A-Muhandis was a lifelong ally of Iran, and he rose to prominence fighting the Islamic State. Earlier, the DFA issued an advisory on its official social-media account, calling on all Filipinos “to cancel, until further notice, any travel to Iraq in view of the current situation in the country.” “Filipinos in Iraq are strongly advised to coordinate closely with the Philippine Embassy and their employers in the event mandatory evacuation will be necessary. The Embassy may be contacted at [+964] 781-606-6822; [+964] 751-616-7838; and [+964] 751-876-4665 or via e-mail: baghdad.pe@dfa.gov.ph; and/or via facebook page: Philippine Embassy in Iraq.” The DFA said the latest figures from the embassy in Iraq lists 450 undocumented and 1,190 documented Filipinos. “More than half are found in the relatively safer Kurdistan region and around 847 in the Baghdad area. In Baghdad area, many [are] working with the US and other foreign facilities, in other areas, particularly in Erbil, in regular commercial establishments.”

‘Prepare now’

Meanwhile, Federation of Free Workers (FFW) President and Nagkaisa labor coalition Chairman Sonny Matula said the DFA should already make the necessary preparations in case there’s need to move some of the 3 million OFWs in the Middle East. “Filipinos within the Gulf region have to be notified by the embassies and consulates on their plans on how to evacuate them, including the identification of the designated areas where our naval and air assets could possibly pick them up in case of further escalation leading to a full blown war,” Matula said. Blas F. Ople Policy Center Head Susan Ople said OFWs in the Arab Peninsula should be familiarized with the hotlines and the Facebook accounts of the nearest posts in their area, which they could contact in case the government begins repatriation efforts. She also cautioned OFWs in the Middle East not to include anything in social media or even in their e-mails anything related to the US-Iran conflict, as it could put their safety at risk. “The heightened security alert across the

Inflation. . . Continued from A1

“Upside risks to inflation over the near term emanate mainly from potential volatility in international oil prices amid geopolitical tensions in the Middle East, as well as from the potential impact of the

tions, men who have sex with men accounted for 81 percent. Only 27.9 percent of these MSMs are covered by prevention programs and 49.8 percent use condoms as a preventive measure. “At root in the situation we’re facing is the lack of information that can be used in our schools. It is saddening and alarming that despite our efforts, our compatriots with HIV keep growing,” said Gatchalian, chairman of the Senate Committee on Basic Education, Arts and Culture. Gatchalian added that interventions like sexuality education should flag the role of social-media and dating apps in the rise of the HIV epidemic, citing a two-year United Nations study released in 2015 that said these apps gave Asia’s teenagers expanded options for casual and spontaneous sex. “For us to defeat this HIV epidemic, we have to go to schools and maximize opportunities to engage young and vulnerable people. And we can’t just teach them what the solutions are, we have to provide them access on those interventions,” Gatchalian added. Butch Fernandez

Middle East warrants the strict monitoring and tracking of political noise, offline and online. An innocent post by an OFW even in the vernacular can easily be misinterpreted by the host government so it is best to stay silent and not to interfere or participate in political conversations,” Ople said in a separate statement.

Possible war

Responding to the DFA advisory, recruitment consultant Manny Geslani said there are fewer than 2,000 OFW in Iraq, of whom around 500 are working in Kurdistan, “relatively safe and far from Baghdad, and the rest are working for International organizations in the security-tight Green Zone.” He said undocumented OFW in Baghdad are those who might need repatriation “if allowed by their employers.” “Some 1500 to 1800 OFW are working inside a few US bases in Iraq where there is no need to repatriate them since they are safe and secure inside the bases with concrete bunkers in case of rocket attacks.” “There are about 5,000 US troops stationed there to train Iraqi Armed Force, with more US troops being dispatched to the region by US President Donald Trump to protect the bases in case of any attacks by Iran terrorist groups,” Geslani added. He said the services of the Filipinos will be needed further to maintain the US bases, under a DFA memo circular issued in 2014 which allows the OFWs to work for international contractors hired by the US Armed Forces. “The companies are obliged to move the OFW to safer locations in case their jobsites are not safe anymore.” Geslani said the POEA has no record of any new deployment to Iraq since 2014. “Most of the Filipinos who have managed to slip into Baghdad undocumented come from Dubai where international contractors are recruiting workers for Iraq and Afghanistan.” The Iranian general’s killing drastically ratcheted up tensions between Washington and Tehran, threatening to escalate into a full-blown war. Thousands of Iranians filled Tehran’s streets, mourning their commander and calling for retaliation against the US. The US has urged its citizens to leave Iraq “immediately,” and the Netherlands issued similar advice to Dutch nationals. France urged its citizens in neighboring Iran to stay away from public gatherings. In his latest warning, Trump said the US is “targeting” 52 Iranian sites and will strike “very fast and very hard” if Tehran hits Americans or US assets. With Samuel P. Medenilla

African swine fever outbreak and recent weather disturbances on domestic food prices,” the governor said. “However, uncertainty over trade policies in major economies continues to weigh down on global economic activity and demand, and could thus mitigate upward pressures on commodity prices,” he added.

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Editor: Vittorio V. Vitug • Monday, January 6, 2020 A3

‘Good governance, services delivery key to curbing insurgency’

By Rene Acosta

@reneacostaBM

HE top commander of the military acknowledged that good governance is the best weapon the government could use in its internal security operations, vowing that soldiers would work more with local officials in the concerted effort of ending the country’s threat groups. “Good governance practices” and the “efficient delivery of basic services” create communities that are

resilient to recruitment and other activities by the Communist Party of the Philippines (CPP) and its armed

wing, the New People’s Army (NPA), said Lt. Gen. Felimon T. Santos, who assumed as the new chief of staff of the Armed Forces of the Philippines (AFP). Santos, who had headed the military’s Eastern Mindanao Command based in President Duterte’s home city of Davao, was installed on Saturday by the Commander in Chief as the new top military commander, succeeding retired chief of staff Gen. Noel S. Clement. Santos noted how good governance had been successful in the campaign against communist rebels in Davao provinces and even in the President’s home city, which was practiced and implemented through a task force that was created through the Commander in

Chief’s order. “Executive Order 70 created the National Task Force to End Local Communist Armed Conflict and institutionalized a ‘whole-of-nation’ approach in attaining exclusive and sustainable peace,” Santos said during his assumption speech. “Under Executive Order 70, all government agencies from the national, regional, provincial, cities, municipalities, all the way down to the barangay level are now involved and have delineated roles and responsibilities in this whole-of-nation approach,” he added. In the past, the military commander said that the campaign against rebels had rested solely upon the shoulders of soldiers, with local chief executives leaving the

insurgency problem alone to the AFP and the Philippine National Police to deal with. “This multipronged approach addresses the motivation for insurgency, and will hopefully put an end to its treacherous life cycle. Government agencies and their corresponding units at all levels cooperate, interact support, provide practical solution, and solve problems and issues on the ground that are being exploited” by rebels,” Santos said. “By doing so, there will be no reason for the CPP-NPA-NDF to agitate, organize and mobilize these vulnerable sectors and communities,” he added, noting how good governance that encompassed the whole approach had been potent in

dealing with communists and their propaganda in Davao del Sur, Davao Oriental and Davao del Norte, and even in Davao City. With local officials and government units taking shares in the anti-insurgency campaign, Santos said the military can now train its resources, manpower, and firepower to rebels and even members of other threat groups who chooses to fight the government. “Likewise, the AFP will continue to be proactive against the local terrorist groups, such as the Abu Sayyaf and those groups who pledge allegiance to the Isis. We shall effectively counter their narratives through good governance, build community trust and earn the people’s respect,” Santos also said.

DOJ awaits DFA and DOLE moves S. Cotabato towns, GenSan get P2.04B for ‘Build, Build, Build’ before acting on Iraq-bound Pinoys

USTICE Secretary Menardo Guevarra said he is ready to instruct the Bureau of Immigration (BI) to prevent overseas Filipino workers (OFWs) from leaving the country to pursue work in Iran, Iraq and Libya once a deployment ban has been issued. Guevarra said he will follow the actions taken by the Department of Foreign Affairs (DFA), and the Department of Labor and Employment (DOLE) with respect to the new tension in the Middle East following a US attack in Iraq that led to the death of a top Iranian military commander. “The DOJ/BI will take the cue from the DFA and the DOLE. Should they actually ban travel to Iraq, Iran and Libya, whether totally or partially during this critical period, I will direct the BI to strictly enforce

the same,” said Guevarra. Data of the Trade Union Congress of the Philippines (TUCP) listed about 1.2 million Filipinos in the Middle East. On the other hand, DFA records showed there are 1,190 documented workers in Iraq, of which 800 live in Baghdad, while the 538 other undocumented Filipinos are said to be staying elsewhere in the country. Labor Secretary Silvestre Bello III reportedly said that all the Filipinos in Iran are illegally working there since there is no existing labor agreement between Iran and the Philippines. In the past five years, according to the BI, the number of Iranians traveling to the Philippines only averaged 3,000 a year, and most were students. Joel R. San Juan

ENERAL SANTOS CITY—The national government has allotted some P2.04 billion for the implementation this year of priority infrastructure projects in the city and three other municipalities in South Cotabato province. Engr. Rey Francisco, head of the Department of Public Works and Highways (DPWH)-South Cotabato II District Engineering Office, said last Friday that the funds comprise the approved funding for the province’s first congressional district for 2020, under the “Build, Build, Build” program. Francisco added that these will be used for the opening and expansion of more road networks; construction of barangaybased multipurpose buildings and related facilities; rehabilitation, and construction, of drainage and flood-control structures; and construction of bridges, among others.

EdCom revival pushed amid new challenges facing education sector By Butch Fernandez

@butchfBM

EN. Juan Edgardo M. Angara asserted last Friday the need to revive the Congressional Commission on Education (EdCom) to effectively address new challenges facing the Philippines’s education sector. Angara moved to muster majority support of fellow senators to fast-track passage of an enabling legislation paving the way for EdCom’s revival “to boost government’s efforts to improve the state of education in the country.” Four other senators joined Angara as coauthors in filing Joint Resolution 10 seeking the creation of EdCom proposed to be composed of five members each from the Senate and the House of Representatives. As filed, the EdCom will be tasked to “review, assess and evaluate” the formal, nonformal, informal and alternative learning systems, including continuing systems of education at all levels. “A lot has been done to improve the country’s educational system over the years, but it has become apparent that we need to do more to put us [on a par] with the rest of the world,” Angara said. He pointed out that the results of the 2018 round of the Programme for International Student Assessment, or PISA, which saw the Philippines at the bottom, or second to the last, in the list of 79 countries on reading literacy, mathematics and science literacy, was “a wake-up call, not only for the DepEd [Department of Education] but to Congress, as well.” “We need to act right away,” Angara added

“A lot has been done to improve the country’s educational system over the years, but it has become apparent that we need to do more to put us [on a par] with the rest of the world.”—Angara

recalling that it was back in 1990 during former President Corazon Aquino’s administration that the first EdCom was created through Joint Resolution 2 passed by Congress. It was during the incumbency of the senator’s father, former Senate President Edgardo J. Angara, that the EdCom came out with a report, titled “Making education work, an agenda for reform,” that paved the way for the implementation of education reforms in the country. Among the products of the EdCom report was the “trifocalization” of the education system, with the DepEd having oversight over basic education; the Commission on Higher Education for higher education; and the Technical Education and Skills Development Authority (Tesda) for technical and vocational education, and training (TVET). Acknowledging that challenges remain in the education sector that have yet to be addressed, the senator noted the net enrollment ratio for junior and senior high school in 2018 were at 81.4 percent and 51.2 percent, respectively, while the

completion rate of secondary students was only at 84.3 percent in 2017. He noted that the basic education system still suffers from chronic shortages of teachers and classrooms, large class sizes and low levels of learning achievement recalling that in 2018, the passing rate in licensure exams was pegged at a low 37.9 percent. The Tesda, he added, has yet to fully implement the provisions of Republic Act 7796, or the Tesda Act of 1994, particularly the devolution of TVET to local governments and industry, even as the number of state universities and colleges, and local universities and colleges have increased significantly since 1992, leading to duplication of degree offerings with consequent decreases in the provision of faculty and physical facilities requirements. At the same time, Angara noted the major recommendations of the EdCom that were not acted upon, such as the creation or institutionalization of a permanent National Coordinating Council for Education, to harmonize the policies and programs of the three education agencies, and dovetail them to national development plans. ”The demands of the workplace are constantly changing, and so are the challenges to education brought about by the Fourth Industrial Education. The fast pace of change across the globe is demanding shifts in our educational paradigms, away from content-centric learning to skills and outcome-based learning,” Angara said. The senator said the new EdCom is expected to submit a report on its findings and come up a report on its findings, including short- and long-term policy and program recommendations.

“Among the top priorities are the continuing [of the] widening of our main highways and primary roads to six lanes and the upgrading of access roads leading to agroindustrial and tourism sites in the area,” he said in an interview. South Cotabato’s first congressional district covers this city and the municipalities of Polomolok, Tupi and Tampakan. Francisco said some P1.083 billion, or about half of the total funding, was allocated for various projects in the city, including the construction of the P200-million Upper Silway Bridge and P140-million Lower Upper Apopong Bridge. He said they would implement this year the upgrading or concreting of the road leading to the proposed trade and economic zone in Barangays San Jose and Sinawal worth P30.2 million.

The bulk of the funds was set aside for the expansion of the circumferential road and portions of the national highway to six lanes, Francisco added. In South Cotabato, Francisco said they will upgrade the national highway Crossing Palkan-Lam Caliaf-Kalasangi Road in Polomolok town. He said the DPWH regional office would implement the concreting of the road leading to the agribusiness-processing center in Barangay Polo, Polomolok. The district office will also roll out the construction of barangay multipurpose halls and other facilities worth P1 million to P1.5 million each. “These projects were intended to further boost economic activities in the area, and complement with the expected entry of major investments and ventures in the next few years,” he said. PNA

A4 Monday, January 6, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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PHL shoots for rice output of 19.6 MMT By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Agriculture (DA) is targeting to expand the country’s paddy rice output this year by at least 6.5 percent to a record-high of nearly 20 million metric tons (MMT). The DA said it is banking on the P10-billion Rice Competitiveness Enhancement Fund (RCEF) and its hybrid rice program to increase palay output to 19.6 MMT, from last year’s estimated 18.4 MMT. The DA has earlier slashed its projected total palay output for 2019 to 18.4 MMT, from 19 MMT following a series of typhoons that battered the farm sector in December. Typhoon Ursula (international code name Phanfone) and Typhoon Tisoy, (international code name Kammuri) which struck the Philippines last month, destroyed billions of pesos worth of crops, according to official government data. The damage and losses to agriculture due to Ursula alone reached P3.5

billion. The typhoon damaged some 39,000 metric tons of rice, corn, and high-value crops planted in Mimaropa, Bicol region, Western Visayas, Central Visayas, and Eastern Visayas. Citing the projection of Philippine Statistics Authority (PSA), Agriculture Assistant Secretary Andrew B. Villacorta said palay output likely reached 19 MMT despite the damage caused by the storms. In its latest forecast, the PSA estimated that total palay production in 2019 likely remained flat at 19 MMT. In 2017, the Philippines recorded its highest palay output of 19.276 MMT, according to PSA data. Villacorta said the effects of the RCEF seed component, which provides free high-yielding seeds to rice farmers, would be seen this year and expansion of areas planted to hybrid rice would drive total production to hit recordhigh this year. He added that the DA is eyeing to expand hybrid rice area to about 500,000 hectares this year using its P7-billion rice program fund. Under the RCEF, the government would distribute P3 billion worth of

A FARMER uses a hand tractor to plow a rice field before planting palay seedlings in Tanay, Rizal, in this BusinessMirror file photo. BERNARD TESTA

Rules on access to dangerous drugs for medical purposes relaxed By Bernadette D. Nicolas @BNicolasBM

OCALLY unregistered medicines containing dangerous drugs can now be accessed by patients with medical needs after the Dangerous Drugs Board (DDB) approved a regulation providing for license to acquire, possess and use these drug products. In a statement, the DDB said it approved Board Regulation 8 Series of 2019, after its consultation with concerned agencies, including the Department of Health (DOH) and the Food and Drug Administration (FDA). This came as a result of the earlier initiative undertaken by the Senate Committee on Health and Demography that aimed to guarantee safe, affordable and accessible medicines for public consumption, and compassionate use. Amid queries received by the DDB regarding this development, the DDB explained that the license shall only be granted for the use of products in medicine form that have been registered in FDA counterparts in reference countries. Other than registered medicines with existing dosage delivery system, no other products with dangerous drugs will be authorized. Moreover, the DDB said the license will be is-

sued for the use or acquisition of drug products for patients with medical conditions involving diseases covered by Republic Act 10747, or the “Rare Diseases Act of the Philippines,” life threatening and debilitating diseases, cancer and terminal diseases, rare forms of neurological conditions, and other diseases with limited therapeutic options identified by the DOH. “Apart from improving access to dangerous drugs for medical purposes, it is important for us to ensure that only registered products that have been proven safe for use will be allowed under these regulations,” DDB Chairman Catalino S. Cuy was quoted as saying in the statement. The license may be applied with the Philippine Drug Enforcement Agency (PDEA) by the patient, his/her parent, spouse, guardian, or relative within the fourth degree of consanguinity or affinity. Previously, under the Compassionate Special Permit for Restricted Use of Unregistered Drug and Device Product/Preparation by the FDA (DOH Administrative Order 4, Series of 1992), only specialized institution or specialty society can file a request for CSP. For unregistered products without dangerous drugs, DOH AO 4, Series of 1992 still apply. The DDB with the PDEA and the DOH shall formulate the procedural guidelines for

license application within 60 days from the approval of the regulation. The regulation was approved by the DDB on December 17, 2019. In a related development, the DDB is also exploring the possibility of reclassifying medicines containing cannabidiol with no more than 0.1 percent tetrahydrocannabinol from Schedules 1 and 2 to Schedule 4 of the Philippine Schedule. In the Philippines, substances with no currently accepted medical use in treatment and no accepted safety use under medical supervision are classified under Schedule 1, while substances with currently accepted medical use in treatment but has high potential for abuse that may lead to severe psychological or physical dependence are classified under Schedule 2. From these schedules, it is proposed that medicines with no more than 0.1 percent tetrahydrocannabinol be classified under Schedule 4 for substances with currently accepted medical use in treatment. The 0.1 percent threshold was based on the approved tetrahydrocannabinol threshold of the United States Drug Enforcement Agency. The DDB will schedule public hearing and meetings with stakeholders in the coming weeks in line with this proposed regulation.

inbred seeds to farmer-beneficiaries annually until 2024. “The 19.6 [MMT palay output target] for 2020 is still conservative,” Villacorta said during the DA’s press briefing last week. The country’s palay output in January to September 2019 fell by 5 percent to 11.32 MMT, from 11.91 MMT recorded in the same period of 2018, according to PSA. The country’s rice “adequacy” level last year fell to 85 percent following higher imports which reached a record-high 3-MMT volume. The Philippines’s rice self-sufficiency ratio (SSR) fell to an eight-year low in 2018, as more imports flowed into the countrytoplugtheshortfallindomestic production, according to the PSA. The PSA said rice SSR declined in 2018 as domestic output shrank while the supply of imports went up. The PSA defines SSR as “the magnitude of production in relation to domestic utilization.” The SSR shows the extent to which a country’s supply of commodities is derived from its own domestic production.

Buy oil from Russia, monitor surging world oil prices—Pimentel By Butch Fernandez

@butchfBM

EN. Aquilino Pimentel III prodded the Department of Energy (DOE) to consider buying oil from Russia amid a brewing tension betweeen the United States and Iran that triggered the surge in world oil prices. This, as the administration Senator stressed the need to keep round-the-clock watch of unstable world oil prices amid the strained US-Iran relations that he expects to hit the Philippine economy. In a statement over the weekend, Pimentel proposed that “the Philippines should consider getting oil from Russia,” an open option that he believes “could strengthen Philippine-Russia relations in the process,” as he noted that oil prices rose sharply following the death of Iranian General Qassem Soleiman in a reported US drone attack near the Baghdad airport. At the same time, Pimental predicted that tensions between the US and Iran is likely to “continue to escalate.” The Senator suggested that DOE officials should “strictly watch the oil price movement globally, especially with respect to Philippine sources of crude oil.” Voicing concerns that crude oil prices

could “keep surging,” Pimentel warned such a scenario “could batter our economy.” At the same time, Pimentel prodded the DOE to secure new sources of crude oil “as early as now” amid what he tagged as “the flare-up in US-Iran-Iraq relations.” He stressed that Duterte government officials concerned “must study and seriously consider securing new sources of our crude oil [supply].” Pimentel pointed out that spiking oil prices have led to recessions in the past, stressing that it is better to think ahead to ensure that the country is prepared for the face-off between the US and Iran. The senator made the pronouncement after a US air strike near Baghdad’s airport killed Soleimani, head of Iran’s elite Quds Force who was widely regarded the mastermind of Iran’s activities across the Middle East. According to The Associated Press report, the targeted strike against Soleimani and any retaliation by Iran could ignite a conflict that engulfs the whole region, endangering US troops in Iraq, Syria and beyond. Over the last two decades, Soleimani had assembled a network of heavily armed allies stretching all the way to southern Lebanon, on Israel’s doorstep.

Bangsamoro regional govt advertise job openings in new online portal Backlash feared over govt decision to import 35,000 tons of red onions By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

AVAO CITY—What was then a tall order for a backwater region like the Bangsamoro region is now a regular feature in the regional government after it launched the Bangsamoro Job Portal two weeks ago. Beginning December 23, job seekers in the region may just file their resumes and application letter online via jobs. bangsamoro.gov.ph. The job portal was launched during the 30th Cabinet Meeting that was presided by Bangsamoro Chief Minister Ahod “Al Haj Murad” Ebrahim together with Executive Secretary Abdulraof Macacua. Ebrahim said the platform was created as part of the Bangsamoro government’s call for moral governance and its policy “to strictly implement the merit-based hiring process and credible job placement.” “Persons with necessary qualifications, integrity, skills and passion to serve the Bangsamoro can be placed in the new bureaucracy,” he said. He said the Bangsamoro job portal was the regional government’s way “to relieve applicants from traveling in order to submit documents to prospect offices, thus giving them less-hassle transactions.” “Applicants do not need to travel and personally submit their applications because everything is done through the web site,” he added. However, applicants may still submit their applications, personally when

called upon by the respective office. He said prospective applicants, who do not have access to the internet, may submit their papers for consideration of the ministries and offices of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

An applicant would have to register first on the portal as initial step before an applicant could access the job postings of the different BARMM ministries. As of January 5, the job portal indicated that there are 1,841 vacancies in the BARMM offices. The web site has

received a total of 121,118 applications and a total of 42,419 registered on the portal. Among the BARMM offices, the Ministry of Agriculture, Fisheries and Agrarian Reform had the most number of vacancies at 380.

HE government’s move to import 35,000 metric tons of red onions is seen to trigger a major backlash on local farmers expecting to sell their harvests in two months. Sen. Imee Marcos, while acknowledging the government’s claim that the importation was intended to plug an expected supply shortage, sought an assurance from the Department of Agriculture (DA) that this “would have no adverse effect” on local harvests in March. Marcos, citing the Philippine Statistics Authority, noted that wholesale price of red onions in December averaged P195 per kilo, with groceries and supermarkets selling red onions for P150 to P200 per kilo. The Senator voiced serious concerns over potential glut in imported red onions rotting in warehouses “without bringing down the price of the farm produce.” In a statement, Marcos recalled a negative precedent occurring last year “when the National Food Authority imported millions of pesos worth of rice but was unable to bring down market prices significantly.” Moreover, Marcos said the policy on importing rice from other countries was shown to have “significantly hurt the livelihood” of many Filipino farmers. The senator issued the statement after the agriculture chief said he allowed the importation of red onions from China to bring down prices. Traders may bring the red onions into the Philippines starting this month until mid-February, before harvest begins in March. Butch Fernandez

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Banking&Finance BusinessMirror

Monday, January 6, 2020 A5

Premyo Bonds investors to win in quarterly draw

ORE than a hundred winners will take home cash prizes for every quarter this year, following the success of Premyo Bonds.

The national government, through the Bureau of Treasury (BTr), has successfully raised P4.961 billion for the first-time sale of Premyo Bonds, the Department of Finance (DOF) said in a statement. That amount is 65 percent higher than the initial size of P3 billion. The issue size was increased from the initial P3 million to P4.5 million because of the “remarkably strong demand from the investing public” during the threeweeklong offer period from November 25 to December 13. “Instead of one winner of P1 million, 10 winners of P100,000 and 50 winners of P20,000, there will be more winners: one winner of P1 million, 15 winners of P100,000 and 100 winners of P20,000 per quarter,” the DOF said on Sunday. “From 61 winners, there will now be a total of 116 winners per draw.” The prize bond float received wide

participation among small savers and overseas Filipino workers, with its offer of cash and other rewards on top of income from a safe investment, the BTr said. The use of both on-site and online purchasing platforms enhanced the ease of access, according to the DOF. Of all online transactions, more than 44 percent were investments of P5,000 and below, indicating that the Premyo Bonds successfully reached retail investors. Finance Secretary Carlos G. Dominguez III said this type of bond float now forms part of the government’s proactive financing strategy, and supports President Duterte’s goal of financial inclusion for all Filipinos. According to the BTr, more than 1,700 new bank accounts were opened as of December 13, which indicates how the Premyo Bonds and similar products can contribute

Taguig opens one-stop shop for processing business docs

HE local government of Taguig City announced it opened its one-stop shop for business owners to encourage them to process their registrations and renewals early. “Taxes are the lifeblood of the city’s programs and social services,” according to Taguig City Mayor Lino Edgardo S. Cayetano. Cayetano added that the one-stop shop, which is open until January 20, is a single destination where entrepreneurs can process their business registrations and renew business licenses with the help of Taguig City Hall personnel. Through the one-stop shop, the processes are streamlined to ensure the efficient and convenient processing of documents for businesses, according to Cayetano. Thus, business owners don’t need to start the year with the stress of going to different places

to get different permits, he added. Taguig City has gathered in this yearly event all the departments concerned in giving business licenses and permits. The one-stop shop will be open every day, including the weekends, before January 20. The local government is encouraging business owners to go to the one-stop shop early. Furthermore, all taxpayers are advised to pay their taxes early to evade incurring penalties: a surcharge of 25 percent for failure to file or pay business tax, and an additional 2-percent penalty per month due to delay. “The collected business tax translates into social services. The more the city can collect, the more social services we can render to Taguigeños,” the mayor added. These services include the door-to-door delivery of medicines, scholarship assistance, among others. Claudeth Mocon-Ciriaco

Perspectives Why are asset managers going digital?

here are they investing, and how are they organizing their efforts? Asset managers’ views on the benefits of “going digital” are wide-ranging but, broadly, they are seen under the following three target outcomes: 1. Improving client engagement. Digitizing processes with a view to improving connectivity and strengthening relationships; primarily with clients, but also with suppliers and employees. For example, using biometrics to identify clients, thus avoiding the need for them to go through clunky, password-driven recognition processes. 2 . Improv ing ef ficienc y and controls. Reengineering current processes and leveraging technology to drive lower costs, efficiencies and increase margin, while improving risk management and controls effectiveness. For example, deploying digital technologies to collate all of the information required for client investment reports, and then delivering the reports via a secure digital portal. 3. Improving business management. Harnessing structured and unstructured internal and external data to empower strategic insights, increase visibility into client behavior to support more rapid and robust business decisions. For example, using advanced analytical techniques and tools, managers can ingest large, complex data sets in near real-time and deliver insights, or “nudges,” via mobile devices to field sales staff, identifying which advisors in their territory are most likely to be receptive to a sales pitch about a particular product. Where are the digital dollars being spent? In terms of the allocation of their digital spend, most asset managers are choosing front office over back office. Front office

functions were the biggest focus of digital investments, with 35 percent of respondents giving top priority to marketing, sales and distribution; and 32 percent to their investment activities. By contrast, just over 1 in 5 respondents put the most effort into digitizing back office control and support functions (e.g., risk compliance), and even fewer gave priority to middle office functions (e.g., operations). Interestingly, firms with $50 billion or more in assets under management are focusing more effort on marketing, sales and distribution functions, while smaller firms focus more on middle office investment operations. How are digital programs being resourced? When asked about their firm’s organizational structure for digital program delivery, half of those surveyed say they use a mix of in-house resources and multiple third-party service providers. Far fewer respondents rely solely on in-house resources, or on a single-service provider and only a handful outsource their digital programs entirely. Within this minority of respondents, only larger firms use just in-house resources, while only smaller firms partner with just a single provider. This result is not surprising. The key is ensuring that the right capabilities are available. Larger organizations have a greater capacity to build capability in-house, while also being able to access specialists when required. © 2020 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. Printed in the Philippines. For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

to financial inclusion in the country. “In advanced economies, the capital markets are as deep-rooted as the economy is inclusive,” Dominguez was quoted as saying about the issuance. “Regardless of what their day jobs are, ordinary citizens help drive up the savings and investment rates by participating in financial products. The man-on-the-street is involved in market decisions that make the economy what it is.” National Treasurer Rosalia V. de Leon added that the Premyo Bonds were intended to build on the momentum from the recent issuances of Retail Treasury Bonds (RTBs), in which they saw an increasing participation from individual investors. “By designing the Premyo Bonds to include a cash and noncash reward mechanic, our aim was to entice more individuals and institutions to directly invest in government securities,” de Leon said. “The national government, via issuances like Premyo Bonds, reaffirms its commitment

to the Filipino people to bring innovative and high-quality investment securities to enhance the ability of Filipinos to reach their aspirations, and share in the success of the country,” she added. The good reception was also supported by the online facility, which was initially launched during the RTB Tranche 22 issuance. As compared to the initial online offering in the RTB 22 issuance, there were 13 times more online investors in the Premyo Bonds and total volume of investments made online increased six times. This issuance also expanded the retail investor base of the national government overseas, with online orders coming in from 12 countries—excluding the Philippines—which are three times than of what was reached in the RTB 22 issuance. Those who purchased the Premyo Bonds will earn 3-percent per annum to be paid quarterly for one year. For a minimum investment of only P500,

investors have a chance to win up to P1 million every quarter. Noncash rewards in the form of condo units, and a house and lot will also be given away to the winners on top of the cash prize of P1 million. Winners will receive these rewards net of all applicable taxes, fees and charges. Proceeds from the Premyo Bonds will help fund the country’s health and educational programs, among others. Premyo Bonds were made accessible via online purchase using the facilities of Land Bank of the Philippines, Development Bank of the Philippines and First Metro Securities Brokerage, a member of the Metrobank group and a newcomer to online placement for government securities. The DBP and LandBank were the joint lead issue managers for the first Premyo Bonds offering, with BDO Capital & Investment Corp., China Bank Capital Corp. and First Metro Investment Corp. as joint issue managers. Bernadette D. Nicolas

Monday, January 6, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Figuring out the future

ll eyes are focused on the situation in the Middle East in the wake of the killing by the United States of Qassem Soleimani, the Iranian major general in the Islamic Revolutionary Guard Corps, and rightly so. However, in the age of instant communication, the public is immediately bombarded—pun intended—by equally instant analysis about what it all means. Certainly, everyone is entitled to his opinion, and equally has the right to express that opinion. The problem comes when you can predict with almost complete certainty what that opinion will be based on—the author’s political leanings and bias. The global public is left with having to understand the situation, and potential consequences by listening to “media and the press.” The problem lies in the fact that there are just not enough players in the game to get a variety of thought. Further, pronouncements and predictions about the future are laid down as if these were engraved in the stone tablet that Moses brought down from the mountain. Walter Russell Mead is an American academic, professor of Foreign Affairs and Humanities at Bard College, and previously taught American foreign policy at Yale University. He said: “Everybody seems so confident that they can predict the consequences of Qassem Soleimani’s death, and so contemptuous of those who disagree with their forecast. I must have skipped the class in Pundit School where they handed out the crystal balls.” We need knowledgeable and experienced people well-versed in their field of expertise to share their “insights.” But again, we never know how much of those insights are agenda-driven. In addition, what degree of confidence can we place on forecasts for the future, even from people and institutions that make a genuine effort to be unbiased and sensible? On October 2, 2003, CNN.com ran this headline regarding a study from a team from Sweden’s Uppsala University: “World oil and gas running out” and “Production levels will peak in about 10 years’ time.” There are, however, numerous examples of future forecasts being exactly correct. Discover Magazine, October 2000: “By the year 2020, you will have to learn to drive a more automated car” and “In 2020 you will always need to know if the facts you’ve dredged up are accurate and truthful.” But what about these from as early as October 2019, and as recently as January 2, 2020? “Peso seen to strengthen further to 50:$1 in 2020, ANZ said in a report.” “PNB sees peso correcting to 53 to $1 in 2020.” “Londonbased Capital Economics sees the peso weakening to 56:$1 next year.” “Analysts surveyed by Bloomberg see the currency falling to 51 by end-December 2020.” “In a note to reporters on December 12th, ING Bank said pressures could drag the peso back to the P52-per-dollar level.” So how well did the experts forcast the peso for 2019? These predictions are from sources cited above: “Philippine peso seen closing 2019 at P58:$1,” “Philippine peso to hit P54 to $1” and “Peso seen falling to 55:$1 in 2019.” The Philippine peso closed 2019 at 50.635 to $1. One major local bank also predicted “PSEi at 8,900 by end2019.” The PSE Composite Index closed 2019 at 7,815. Crystal ball gazing is a difficult business. Since 2005

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Climate update Atty. Jose Ferdinand M. Rojas II

RISING SUN

S we begin the year, it is only right to think about our planet, our only home. COP25 ended last month in Madrid, and based on reports following the global talks, the outcome was not very promising. As the rest of the world scramble to limit global warming to the agreed 1.5 degrees Celsius target, the large emitters of CO2, like China, the United States, Brazil and Russia, are seen lacking the “drive for ambition”. There are a few countries that are compatible with a 2°C, and only two nations (Morocco and the Gambia), whose climate action aligns with the 1.5°C commitment. This is not only disappointing, it is also alarming. Another topic tackled in Spain was the issue on international carbon markets, seen as an important factor

in helping deliver on the Paris Agreement. Negotiations were reported to have stalled in this area. The talks concerning loss and damages, unfortunately, did not end very well, too. The international community was not able to meet its climate finance target to be able to help countries that are vulnerable to

the effects of climate change. The Climate Ambition Alliance—composed of 73 countries, 14 regions, 398 cities, 786 businesses and 16 investors—is working toward a goal of “net-zero carbondioxide emissions by 2050.” After Madrid, 80 countries committed to increasing climate action, and 41 have pledged to submit an updated climate commitment this year, 2020. These pledges are very important to ensure that all nations are participating in the work of limiting global warming to a maximum of 1.5°C. The way I see it, the world is banking on the pledges (and actual action) of these nations to overcome the limitations and disappointments brought about by the shortcomings of the other (bigger) countries mentioned before. It must also be said at this point that we need to keep a close eye on our country’s pledges, and to continue pushing the government for appropriate action. The Climate Change Commission is

the lead agency here. Another area of hope is the effort from the business community as they continue to urge their respective governments to make stronger commitments. The private sector is doing its bit, thousands of corporations are coming up with plans to reach net-zero emissions by 2030, and investors all over the world are pledging toward the 1.5°C goal. Some organizations are, likewise, working to find solutions for adaptation. We are not forgetting the youth, whose ideals and voices are being expressed so clearly and tirelessly by Greta Thunberg. She was, of course, present in COP25 where she addressed the estimated 500,000 people at the march outside of the meeting walls: “Hope is not within the walls of COP25, hope is out there with you.” We are doing all these actions for our children, and the future generations. It is only fitting that we listen to them.

Iranian cyber attacks feared after killing of top general

By Frank Bajak | AP Cybersecurity Writer

OSTON—Iran’s retaliation for the United States’s targeted killing of its top general is likely to include cyber attacks, security experts warned on Friday. Iran’s state-backed hackers are already among the world’s most aggressive, and could inject malware that triggers major disruptions to the US public and private sector. Potential targets include manufacturing facilities, oil and gas plants, and transit systems. A top US cybersecurity official is warning businesses and government agencies to be extra vigilant. In 2012 and 2013, in response to US sanctions, Iranian state-backed hackers carried out a series of disruptive denial-of-service attacks that knocked offline the web sites of major US banks, including Bank of America, as well as the New York Stock Exchange and Nasdaq. Two years later, they wiped servers at the Sands Casino in Las Vegas, crippling hotel and gambling operations. The destructive attacks on US targets ebbed when Tehran reached a nuclear deal with the Obama administration in 2015. The killing early Friday in Iraq of Quds Force commander Gen. Quassem Soleimani—long after President Donald J. Trump scrapped the nuclear deal— completely alters the equation. “Our concern is essentially that things are going to go back to the way they were before the agreement,” said John Hultquist, director of intelligence analysis at the cyber-security firm FireEye. “There are opportunities for them to cause real disruption and destruction.” Iran has been doing a lot of probing of critical US industrial systems

in recent years—trying to gain access—but has limited its destructive attacks to targets in the Middle East, experts say. It’s not known whether Iranian cyber agents have planted destructive payloads in US infrastructure that could now be triggered. “It’s certainly possible,” Hultquist said. “But we haven’t actually seen it.” Robert M. Lee, chief executive of Dragos Inc., which specializes in industrial control system security, said Iranian hackers have been very aggressive in trying to gain access to utilities, factories, and oil and gas facilities. That doesn’t mean they’ve succeeded, however. In one case in 2013 where they did break into the control system of a US dam—garnering significant media attention—Lee said they probably didn’t know the compromised target was a small flood-control structure 20 miles north of New York City. Iran has been increasing its cyber capabilities, but is not in the same league as China or Russia—which have proved most adept at sabotaging critical infrastructure, witnessed in attacks on Ukraine’s power grid and elections, experts agree. And while the US power grid is among the most secure and resilient in the world, plenty of private companies and local governments haven’t made adequate investments

in cybersecurity and are highly vulnerable, experts say. “My worst-case scenario is a municipality, or a cooperative-type, attack where power is lost to a city or a couple of neighborhoods,” Lee said. Consider the havoc an epidemic of ransomware attacks has caused US local governments, crippling services as vital as tax collection. While there’s no evidence of coordinated Iranian involvement, imagine if the aggressor—instead of scrambling data and demanding ransoms— simply wiped hard drives clean, said Hultquist. “You could see many cities and hospitals targeted at once with ransomware that encrypts data to make it unusable, but there is no way to decrypt it by paying a ransom,” said cyber-security veteran Chris Wysopal, the chief technical officer of Veracode. The only known cyber-security survey of US local governments, county and municipal, found that the networks of 28 percent were being attacked at least hourly— and that nearly the same percentage said they didn’t even know how frequently they were being attacked. Although the study was done in 2016, the authors at the University of Maryland, Baltimore County don’t believe the situation has improved since. The top cyber-security official at the Department of Homeland Security, Christopher Krebs, urged companies and government agencies to refresh their knowledge of Iranian state-backed hackers’ past exploits and methods after Soleimani’s death was announced. “Pay close attention to your critical systems,” he tweeted.

In June, Krebs warned of a rise in malicious Iranian cyber activity, particularly attacks using common methods, like spear phishing, that could erase entire networks: “What might start as an account compromise, where you think you might just lose data, can quickly become a situation where you’ve lost your whole network.” Wysopal said the Iranians are apt to have learned a lot from the 2017 NotPetya attack, which the US and Britain have attributed to statebacked Russian hackers, and which caused at least $10 billion in damage globally. The worst cyber attack to date, it exploited unpatched software after being delivered through an unwitting Ukrainian tax software provider and spread on networks without human intervention. When then-Director of National Intelligence James Clapper blamed Iran for the Sands Casino attack, it was one of the first cases of American intelligence agencies identifying a specific country as hacking for political reasons: The casino’s owner, Sheldon Adelson, is a big Israel backer. Clapper also noted the value of hacking for collecting intelligence. North Korea’s hack of Sony Pictures in retaliation for a movie that mocked its leader followed. The vast majority of the nearly 100 Iranian targets leaked online last year by a person or group known as Lab Dookhtegan—a defector, perhaps—were in the Middle East, said Charity Wright, a former National Security Agency analyst at the threat intelligence firm InSights. She said it’s highly likely Iran will focus its retaliation on US targets in the region as well as in Israel and the US.

Opinion BusinessMirror

www.businessmirror.com.ph

Missing the trees when looking at the forest

Super special visa Siegfred Bueno Mison, Esq.

THE PATRIOT

Thomas M. Orbos

STREET TALK

MONG the viral posts I received at the start of the year was an article with a self-explanatory title—“I’m Tired of Living in Manila and I’m Tired of Hoping for Change.” Written apparently by a millennial, it speaks of the daily grind that she has to go through in Metro Manila and her desire to move somewhere else, virtually giving up on seeing things getting better in the nation’s capital. Maybe it was a case of holiday hangover, but her article apparently struck a chord given the number of shares and people citing it, in informal discussions during the last vestiges of holiday gatherings over the weekend. And going through the comments section of her article, she gets both praise and criticism, but not one disagreeing that indeed life in Metro Manila is getting better. Life in our beloved metropolis is indeed a commitment. You really need to love it here for you to stay. Otherwise, there will be an excess of reasons for one to leave and not all of it financial. Or maybe, as they say, we are like that frog that swims in a pot of soon to be boiling water, ignoring the difficulties sinceå we are right in the middle of the zone. No matter, the article is a discourse that may do well for our public servants to seriously take to heart as we begin the year. No doubt that much has been done in terms of policies and infrastructure compared to previous years. And the promise for a better future is further concretized with the good year-end report our economic managers have forwarded to us, giving a glimpse of a Philippines reaching respectable economic rankings within the next decade or so. But for the ordinary Metro Manila resident, the ordeal from point A to point B appears to be more or less the same. Waking up early and going home late; the persistent long lines we see during peak hours and the traffic jams we are now so used to reflect the silent struggle and, as the millennial writer wrote, the tiredness one feels in pursuing his or her dreams in the metropolis. People are impatient and though it may not be the fault of this administration, we can, and should, understand this feeling of tiredness that Metro Manilans are now feeling. Maybe government, aside from asking us to be more understanding and look at the bigger picture, needs to refocus some of its attention to the “small steps and the lowhanging fruits” that are there, right under our noses, but which may be

disregarded precisely because of its seeming insignificance. As they say, you will likely miss out the trees when looking at the forest. And that is why we take note of government officials, many of them fairly new in their positions, like our young Metro Manila Mayors Isko Moreno and Francis Zamora, or Interior Secretary Eduardo Año, who do the taken-for-granted initiatives. Taking out pedicabs and tricycles off main thoroughfares, taking out roadside parking to ease traffic at the expense of city revenues, or castigating vendors and citizens alike who leave holiday trash—these are, at their very core, actions that are expected of government to implement and enforce. Nothing new, nothing fancy. Nothing out of the box. Just items that need to be acted on immediately because they will do well for the common good. These are actions that should be norms more than exceptions. These steps do matter and are not small at all. They will definitely make the daily ordeal of the ordinary Metro Manilan more bearable. And less tiring. It may be that we, as private citizens, are asking too much. And it is also true that we, as private citizens, need to do our fair share of the work to make this happen. But it would help if empowerment is given a push by the people to whom we entrusted our vote, especially if we see and feel this in our daily grind in Metro Manila. Thomas “Tim” Orbos was former DOTr undersecretary for roads and general manager of the MMDA. He is currently undertaking further studies at the McCourt School of Public Policy of Georgetown University. He can be reached via e-mail at thomas_orbos@sloan.mit.edu

S part of their sovereign nature, all states have the absolute power to deny any entry of visitors (noncitizens, foreign nationals, “aliens”) into their territories. After all, similar to how homeowner associations can restrict access of certain visitors to their subdivisions, the State, acting through its Executive branch, has the absolute power to decide who can enter and stay in the country. This power is exercised three ways—(1) issuance of visas; (2) border inspection; and (3) deportation—when visitors violate conditions of their stay.

As preliminary evaluators, consular officers, under the state or foreign affairs department, issue visas after assessing the applicant’s fitness to enter and stay in the country. For example, if a visa applicant intends to enter as a tourist, he must show proof that he can financially sustain and support his entry/stay for “pleasure or business.” For students, they must show proof of school acceptance, among others. For investors, they must present a substantial sum of inward remittance to the country. However, since having a visa does not guarantee entry, border inspectors have the right to deny entry (or exclude, in technical terms) visitors despite having a valid visa. Last year, former Ombudsman Conchita Carpio-Morales and former Foreign Secretary Albert del Rosario were denied entry in Hong Kong, presumably for their respective positions against Chinese President Xi Jinping and other Chinese officials

for alleged crimes against humanity in the West Philippine Sea. A month ago, the visa application of former national police chief Ronald “Bato” de la Rosa was reportedly denied by US immigration for his supposed involvement in the bloody drug war in the Philippines. Such action also appears to be an offshoot of the 2020 US budget law, which contained a special provision, upon the insistence of US Sens. Leahy and Durbin, to restrict entry of Philippine officials involved in the detention of Sen. Leila de Lima. Under immigration law, any foreign national, regardless of visa status, can be excluded by border inspectors known as immigration officers in this country for various reasons. Under Philippine law, grounds for exclusion are found under Section 29 of the antiquated Philippine Immigration Act of 1940. Some of these grounds include those likely to be a public charge, or those with

Monday, January 6, 2020

communicable disease or those who are opposed to organized government. By way of executive discretion, the President and the immigration commissioner are also empowered, under certain guidelines, to place certain individuals in the blacklist. US President Donald J. Trump did just that by way of particular section in the 2020 US budget, entitled “Prohibition on Entry,” which says the US secretary of state “shall apply subsection [c] to foreign government officials about whom the secretary has credible information have been involved in the wrongful imprisonment of.... Sen. Leila de Lima who was arrested in the Philippines in 2017.” In response to this Executive action, the Duterte administration practically blacklisted Leahy and Durbin, who are now banned from entering the Philippines. During my stint as immigration commissioner, I remember that the Philippines is the seventh-most open country in the world, granting visa-free access to visitors from more than 160 countries. While here, these foreigners are treated fairly well as compared to how Filipino visitors are treated in other countries. While reciprocity in terms of entry/stay is desired, it can never be demanded. These visits are a matter of privilege, which can be revoked by the sovereign power subject to due process requirements. Since the inception of states and rulers, royal authorities can prevent entry or expel any unwanted visitor in their kingdom. In contrast, when it comes to our Kingdom in Heaven, it’s an entirely different storyline—everyone is welcome to enter; with Jesus as their super special visa.

HELL companies have come under attack for obscuring illicit money flowing into real estate. But it turns out they’re also a problem for the Pentagon.

Some defense department suppliers have used such front companies to fraudulently win manufacturing bids, according to a US Government Accountability Office (GAO) study of defense department contractors. In some cases, the shell companies helped contractors obscure that they were making US military equipment abroad, the GAO said, posing a risk to national security and quality control. More often, they were used to win contracts meant for companies owned by disabled veterans or minorities, it said. The government watchdog reviewed 32 cases that made their way to criminal prosecutions or lawsuits between 2012 and 2018. Taken together, they illustrate how the Pentagon’s $350 billion in annual contracting can be gamed using companies that exist largely on paper. The problem could be far bigger, since the GAO’s study wasn’t intended to gauge its scope. The watchdog said the Pentagon had made only spotty efforts to pierce the secrecy of shell companies. “I don’t think anybody really knows the extent of the problem,” said Robert Burton, a former top government procurement attorney now at Crowell &

Moring. “I do know that some of these folks have become quite proficient at disguising ownership.”

Secrecy haven

ALTHOUGH shell companies have many legitimate uses, they’ve also become an invaluable tool allowing terrorists, money launderers, human traffickers and tax cheats to evade detection. Even as countries in Europe and elsewhere are requiring greater disclosure, the US remains a tax and secrecy haven, allowing so-called beneficial owners who profit from these corporations to hide their identities by registering in states like Delaware, Nevada, Wyoming and South Dakota. One case reviewed in the GAO’s November report, involving a contractor in Paterson, New Jersey, shows how the tactic can pose a safety risk for the armed forces. That contractor, run by a businessman named Ferdi Gul, won 346 US military contracts over several years to supply parts for torpedoes, bomb ejector racks and mine-clearance systems. His company was registered with the Pentagon as a domestic manufacturer. But the parts were actually made

It has no expiration date nor any restriction upon acceptance. At the Pearly Gates, visitors with their super visas will be judged, like any other border inspection, for their fitness to enter the Kingdom. In the Bible, Jesus tells us in Matthew 13:47-49 that, “the Kingdom of Heaven is like a net that was let down into the lake and caught all kinds of fish. When it was full, the fishermen pulled it up on the shore. Then they sat down and collected the good fish in baskets, but threw the bad away. This is how it will be at the end of the age. The angels will come and separate the wicked from the righteous.” Not everyone who was invited to enter the Kingdom will be allowed entry, even with a Jesus visa. While we all are given the opportunity to accept the super special visa to be part of His Kingdom, only a few have embraced it. Some accept the gift of Jesus, but fail to comply with certain conditions. Others believe but fail to exert efforts to act on such belief. For instance, I have seen a few believers who are ruthlessly unkind to others, in words or in deed, despite the expectation that, in the spirit of love, they are to treat one another with compassion, kindness, humility, gentleness and patience. Believers are to welcome and receive one another, regardless of political affiliations, in unity as we have one heart, one mind and one voice to praise our God. The issuance of any visa does not guarantee entry to anyone’s Kingdom. Admission is never a right, but a privilege. For questions and comments, please e-mail me

Will oil become a weapon of choice for Iran? By Julian Lee

Bloomberg Opinion

VENTS in 2019 served as a reminder for just how vulnerable the world’s oil supply is, and Iran was usually blamed as the culprit for attacks on ships, pipelines and processing plants in the Middle East. But the knock-on effects blew over quickly in a world that appeared oblivious to the geopolitics of oil. Now in the wake of the US killing of Qassem Soleimani, the Iranian general who led the Revolutionary Guards’ Quds force, the big question hanging over the market is whether Iran will target oil in its response. There is no particular reason to expect that Iran’s retaliation will target oil, except that even the best guarded of the industry’s installations have

been shown to be vulnerable and the steady stream of oil tankers passing through the Strait of Hormuz presents multiple opportunities to disrupt flows. About 34 million barrels of crude from Saudi Arabia, Iraq and Kuwait passed through the channel last month, according to Bloomberg tanker tracking. Attacks in September on Saudi Arabia’s oil processing facilities at Abqaiq and Khurais briefly took 5.7 million barrels a day of the country’s oil production capacity offline, the single-biggest disruption in supply on record. It served as a wake-up call that the world’s oil security blanket was not nearly as secure as once was thought. While responsibility was claimed by [Iran-backed] Houthi forces in Yemen, the United States and the Saudis blamed Iran directly. United

Nations investigators dispatched to Saudi Arabia were unable to verify US and Saudi Arabia claims that Iran was behind the strikes. Iran denied it was involved. Those attacks briefly sent oil prices soaring, but the rally was short-lived. A combination of a gloomy outlook for oil demand, and quick action by the Saudis to calm markets by tapping stockpiles and spare capacity meant that prices were back below preattack levels within days. Things look a bit different now, though. Oil prices have been on an upward trajectory since early October, and the killing of Soleimani boosted them to their highest level since April. Although forecasts for oil-demand growth in the first half of 2020 haven’t yet improved, the promise that a “firstphase” trade deal between the US and China will be signed later this month

How the Pentagon was duped by contractors using shell companies By David Voreacos & Neil Weinberg | Bloomberg Opinion

thousands of miles away in Gul’s native Turkey, US authorities say. Using a front company to disguise the arrangement, Gul illegally exported military technical drawings there and defrauded the US of $7 million, they said. The Pentagon “routinely encountered significant problems with the quality of the parts,” and tests revealed “numerous design flaws” in torpedo parts provided by Gul’s company, court records show. Two of Gul’s employees pleaded guilty to their roles in the fraud. Gul, who was first charged in 2015 and indicted in 2018, hasn’t responded to the case in federal court in New Jersey. At the time of his indictment, he was believed to be living in Turkey.

Legal framework

LAWMAKERS in Washington are trying to bring more transparency to corporate ownership. The House passed a bill in October that would force states to collect information about who’s behind shell companies of all types and share it with law enforcement. A similar bill is pending in the Senate Banking Committee. In the absence of such transparency, the defense department continues to face financial and national security risks in its supply chain, the GAO said. Protecting that pipeline is a daunting challenge, and it begins at the most basic level— figuring out who actually owns its contractors and benefits from their work. The Pentagon accounted for two-

thirds of all US government contracts last year, awarding $350 billion in business to 38,000 companies. Foreign suppliers are eligible for some Pentagon contracts, but not for those involving certain sensitive technologies. The defense department faces “several types of financial and nonfinancial fraud, and national security risks posed by contractors with opaque ownership,” according to the GAO. Such opaque companies owned by adversary states could pose intelligence threats, if they steal intellectual property or insert malware into critical systems, the Office of the Director of National Intelligence said in a 2017 report. “Not only might you have sanctioned parties doing contracting work, but enemies of the US getting access to our funds, our equipment, our sites and our personnel,” says Greg Lisa, a Hogan Lovells lawyer who worked at the treasury department’s Financial Crimes Enforcement Network. “That’s frightening.” The defense department, through a spokesman, declined to comment.

Banning contractors

BURTON, the former procurement attorney, said he helped ban contractors for a variety of regulatory violations during his years of government work. Some of them would later resume work for the Pentagon using shell companies to disguise their identities.

“They just sort of slithered away and created a new entity,” he said. For foreign adversaries, like China, Russia or Iran, shell companies could be a point of entry into the Pentagon’s procurement system. Last year, the Air Force scrapped a $420-million contract to make bunker-busting bombs after a competitor complained that it had been given to a foreign-owned company with ties to a US-sanctioned Russian oligarch. Federal contractors are supposed to self-report ownership information to the government, but the defense department often can’t verify that information. Defense department contracting officers lack the “time, resources or training they need to conduct in-depth reviews or analysis of the ownership aspects of a particular company,” the GAO said. The ownership data in the federal database used by the Pentagon to assess vendors lists only “prime contractors,” not subcontractors in the supply chain.

Sensitive contracts

For particularly sensitive contracts, the Pentagon has taken steps to address risks from suppliers with murky ownership. In those cases, it has increased collection of ownership data prior to awarding contracts and excluded suppliers who pose significant risks of infiltration by adversaries. It’s also sought to identify officers, directors and owners of suppliers deemed to pose a supplychain threat.

has injected a little more optimism. Meanwhile, the supply side of the balance may tighten, although I remain skeptical about how much real supply will be removed from the market by the new agreement between the Organization of the Petroleum Exporting Countries and its big oil-producing counterparts (known collectively as Opec+). Saudi Arabia’s pledge to cut an additional 400,000 barrels a day beyond its agreed target would only take its production back to the average level it has pumped since March. Russian production of crude and condensate, a form of light oil extracted from gas fields, hit a post-Soviet high last year on an annual average basis. The exclusion of condensates from its new quota, which brings Russia into line with the Opec countries, will make it easier to comply with its new output target.

While the GAO praised some Pentagon efforts to monitor contractor ownership, it said they’ve been piecemeal. It recommends that the Pentagon emulate the private sector by using commercially available data mining and analysis tools to uncover identifying information from a range of databases. Banks, for example, use credit bureaus and other data sources to gather personal information on new customers, and to report suspicious financial activities to law enforcement. “There’s a rule in banking called ‘Know Your Customer,’” said Jeffrey Lovitky, a Washington lawyer and expert in government procurement law. “In military procurement, there really should be a rule, ‘Know Your Contractor.’” In another case reviewed by the GAO, the government didn’t know the true supplier when it granted a contract to a New Jersey company to make safety gear called wing pins for F-15 fighter jets. The winning bidder was a company called Allied Components Llc. created by a man named Robert Luba. It turned out that was a shell company. Luba and a business associate, Hannah Robert, used another company based in India to manufacture the components, while lying to the defense department about their supplier, prosecutors said. Working with an unidentified partner in India, Robert secretly exported technical drawings for aircraft parts, nuclear submarine torpedo systems and attack helicopters.

A8 Monday, January 6, 2020

DFA ‘ready’ to transfer OFW if US-Iran tensions escalate

By Recto Mercene

@rectomercene

HE Department of Foreign Affairs (DFA) said it is ready to evacuate Filipinos willing to leave Iraq in the wake of heightened tension in the Middle East following the assassination of top Iranian general Qassem Soleimani in a drone strike ordered by US President Donald J. Trump. During the weekend, DFA reiterated it is ready to act on the request to being home over a thousand Filipinos in Iran and 1,190 in its neighboring Iraq. However, it noted it will not yet

issue a mandatory repatriation order for both countries. Foreign Affairs Secretary Teodoro L. Locsin Jr. said they are still hoping the air strike, which killed Soleimani, will not escalate into a war between

1,500-1,800

Estimates by a leading recruiter of the number of OFW working inside a few US bases in Iraq where, he said, they are safe as these have “concrete bunkers in case of rocket attacks.” The rest of Filipinos are in relatively safe Kurdistan region the United States and Iran. In his official Twitter account over the weekend, Locsin said, “We always do [prepare for evacuation]. We will get out everyone who wants to get out and return to poverty in the Philippines to stare at their starving loved ones, while bullshetters talk about the most dynamic

economy in Southeast Asia. Or we will be there with them.” Locsin was responding to a query from a netizen who asked: “Dear DFA Secretary @teddyboylocsin, do we have a plan in place if something major happens in the Middle East? What’s the reading on the ground by our diplomats?” The Middle East was thrown into turmoil on Friday, January 3, when an American drone attack near the Baghdad Airport killed Soleimani, Tehran’s most powerful security and intelligence commander. He was the longtime leader of its Revolutionary Guards’ Quds Force, the foreign-facing branch of the country’s powerful security apparatus. See “DFA,” A2

DOH on alert over ‘mystery’ disease in China By Claudeth Mocon-Ciriaco

Correspondent

HE Department of Health ( DOH ) on Su nd ay or dered a strict check on incoming travelers at the airports and seaports amid reports of a mysterious disease in China, with symptoms similar to

pneumonia but with fatal results in some cases. Health Secretary Francisco T. Duque III also assured the public that the Bureau of Quarantine (BOQ) is closely watching all those traveling to the country. He said he gave orders to intensify the checking of all incoming travelers especially those

manifesting fever or signs of respiratory infection. “It has been reported lately that an outbreak of a mysterious illness has affected 44 individuals in China,” Duque said. According to reports, the said disease is similar to a “viral pneumonia of unknown origin.” Duque urged the public, “especially those

with history of travel from China, to seek immediate medical consultation if experiencing any flu-like symptoms.” He also encouraged the public to “embrace healthy lifestyles, practice proper hand hygiene, and observe cough etiquette to prevent transmission of respiratory infections.”

Budget. . .

Continued from A1

TAIL-END OF A COLD FRONT AFFECTING SOUTHERN LUZON AND EASTERN VISAYAS NORTHEAST MONSOON AFFECTING THE REST OF LUZON as of 4:00 am - January 5, 2020

“The economic growth is attributed to the sound economic policy of President Duterte who has been pursuing structural reforms needed to guarantee the country’s economic takeoff,” said Romualdez, recalling that the surging economy earned the Philippines an upgrade to BBB+, the country’s highest credit rating in history from Standard & Poor’s Global Ratings (S&P). “We are a notch away from ‘A’ territory rating after a vote of confidence by Standard & Poor’s, upgrading the country’s credit rating from ‘BBB’ to ‘BBB+’ with a stable outlook because of the robust economic growth,” said Romualdez in a statement. House Committee on Appropriations Chairman Isidro Ungab said the signing of the national budget would guarantee the continuity of various important government projects deemed crucial to the economy and livelihood of Filipinos. “It is important that the government will have an operating budget on the first week of January. The Philippine economy will be bolstered with government expenditures to the tune of P4.1 trillion, which is expected to boost economic activities and have subsequent multiplier effects on the various sectors of the economy,” said Ungab. For his part, Cavite Rep. Elpidio Barzaga Jr. said the 2020 budget has been designed to support a very strong, sustainable, and equitable growth for the country. Also, Deputy Speaker and Batangas Rep. Raneo Abu said the national budget will result in more a equitable distribution of projects among district and party-list representatives, who have been consulted in the matter. “With competing demands over limited public resources, we looked at how the appropriations were strategically distributed across sectors, agency programs and geographic subdivisions. [We have] approved a constitutionally compliant budget,” said Abu. Earlier, Deputy Speaker for Finance Luis Raymund Villafuerte said the 2020 national budget is expected to propel the economy to a higher trajectory. Villafuerte also said the proposed 2020 GAA will boost the growth momentum, attract local and offshore investments, and create a lot more jobs for the Filipino people. Jovee Marie N. de la Cruz

FREE TUITION IN SUCs WORSENED INEQUALITY, SCHEME REDESIGN EYED By Cai U. Ordinario @caiordinario

REE tuition in public universities and colleges worsened education inequality, and the government should remain open to the possibility of redesigning the scheme, according to a study released by the Philippine Institute for Development Studies (PIDS). In a discussion paper, PIDS researchers, including its president Celia M. Reyes and senior research fellow Aniceto C. Orbeta Jr., said disadvantages of poor students enrolled in public institutions become barriers to their entry in state universities and colleges (SUCs). As a result, bulk of the student enrollees in SUCs came from high-income families, as a 2017 PIDS study showed. Under the Universal Access to Quality Tertiary Education Act, or the free tuition law, education offered by SUCs and government-run technicalvocational institutions (TVIs) was made free. “Both implementers and legislators should remain open, and flexible, to facilitating redesign and improvements to the program to better democratize access to tertiary education, particularly, for the poor,” the authors said. The authors said their findings, as well as other experts recommended redesigning the free tuition law into a socialized tuition scheme. According to the study, the socialization of tuition fees is one of the potentially efficient ways to leverage limited government higher education funds. Apart from these, the authors said a redesign should include efforts to expand organizational support for the free tuition law, as well as monitor SUCs and even local universities and colleges (LUCs) to ensure they

do not exceed their carrying capacities. “With the increasing number of applicants to public HEIs (higher education institutions), one concern raised was that SUCs and LUCs may be incentivized to admit students in excess of the university’s carrying capacity, thereby deteriorating school quality,”the authors said. The review of the free tuition law was part of the priorities outlined by Reyes when she assumed the position of PIDS president in 2018. Reyes, who is the first female head of the government-run think tank, told the BusinessMirror in an interview that the review of the free tuition policy was requested by the PIDS Board of Trustees. In 2017, PIDS senior research fellows Orbeta and Vicente B. Paqueo said the bulk of students studying in public higher education institutions (HEIs) is mostly from higher-income groups. Data from the Philippine Statistics Authority (PSA) showed that students from the poorest and second-poorest income households only accounted for 11 percent in 1999 and 12 percent in 2014 of enrollees in HEIs. Apart from being antipoor, paying for the tuition of SUC students will not guarantee these students will complete their degrees, because the biggest expense in collegiate education is living allowance, and not the tuition itself. The authors said under the Students’ Grants-in-Aid Program for Poverty Alleviation (SGP-PA), designed to provide full funding for college students belonging to Pantawid Pamilyang Pilipino Program (4Ps) beneficiary-families, provides P60,000 annually. This amount consists of P20,000, or P10,000 per semester, for tuition; P35,000, or P3,500 per month for 10 months, for living allowance; and P5,000, or P2,500 per semester, for instructional materials.

Win urges regulators to prod telcos to comply with portability law soon

EFLECTING the growing impatience of mobile company customers, Sen. Sherwin Gatchalian prodded telecommunication service providers to fasttrack mobile number portability services now mandated by law, stressing they should not be made to wait for two more years. “Dont let mobi le consu mers wait until 2021 for mobile p or t a b i l it y,” G at c h a l i a n re minded telcos in a statement on Thursday, even as he prodded the National Telecommunications Commission (NTC) to ensure that the three mobile service providers will implement the mobile portability in accordance with the intent of the law. He warned that mobile service providers may be penalized with a maximum fine of up to P1 million and revocation of franchise “if they unjustly refuse to provide mobile number portability services,” and he advised cell-phone users to promptly report “non-compliance by erring telcos.” There has been a clamor for companies to fast-track installation of a mechanism to pave the way for the immediate implementation of the Mobile Number Portability Act (MNPA), noting that telco giants Smart and Globe, and newcomer Dito Telecommunity earlier confirmed an agreement to tap US-based Syniverse to “provide the mobile number portability services.” As principal author of the enabling law, Gatchalian noted that the mobile number portability law provides that this “should be available within six months from the promulgation of the Implementing Rules and Regulations [IRR],” as specifically provided under Section 11 of Republic Act 11202.

The law was signed by President Duterte in February 2019, paving the way for the issuance of the IRR last June 11, and clearing the way for the law to take effect last July 2, 2019, or over five months ago. Gatchalian recalled reports attributed to Globe claiming that other countries that implemented cell-phone number portability “took 27 months or a little over two years to make the shift beginning from the issuance of the IRR.” However, the senator was not convinced. “Setting mobile number portability for the second half of 2021 is unacceptable. Our consumers need not wait that long in order for them to be able to have that freedom to avail of the services they want. We are denying the right of every user to choose what is best for them,” Gatchalian griped. He recalled that during the bicameral conference on the portability law, “the technical working group meeting and even in public hearings, the telcos assured that they will comply with the rules on mobile number portability.” In fact, the lawmaker reminded, “both Globe and Smart have agreed to have the provision on mobile number portability be included in the renewal of their franchises” during the 17th Congress. “To allow the telcos to renege on their commitments in fulfilling their legal obligations based on other countries’ implementation is tantamount to consenting to another scheme of the duopoly,” the senator pointed out. He warned that “this will frustrate competition and the Filipino consumer will have no other choice but to put up with their underwhelmingly poor and expensive services.” Butch Fernandez

www.businessmirror.com.ph

Companies BusinessMirror

Monday, January 6, 2020

Meralco’s revised CSP rules spark interest of top firms By Lenie Lectura

@llectura

he Manila Electric Co.’s (Meralco) revised bidding rules for the second round of the competitive selection process (CSP) for 1,200-megawatt (MW) capacity sparked the interest of conglomerate San Miguel Corp. (SMC) and Ayala Corp.

because the power plant that would join the auction is a circulating fluidized bed (CFB) coal-fired power plant. “We did not join the greenfield because CFB plants do not meet the requirements. If they will let us join, that is a level playing field,” Ang had said. Another power giant that is expected to join the second round of CSP is AC Energy. “We are reviewing it,” said AC Energy President Eric Francia in a text message, while adding that the new set of TOR has made it attractive to power firms. “There have been significant improvements in the TOR. Other remaining concerns, hopefully, could be addressed through the process. I hope this CSP succeeds as we need additional capacity soon.” AC Energy and SMC previously won in two other competitive biddings for Meralco’s 1,200 MW brownfield and 500-MW capacity requirement. Based on the revised TOR, bidders can offer Meralco to supply 600 MW blocks. If multiple power facilities would be utilized to supply Meralco, bidders are allowed to place a minimum bid capacity of 150 MW per unit of the same fuel type. Previ-

ously, the TOR stated that the entire 1,200-MW capacity must come from one power plant. The new bid invite was published December 27. A pre-bid conference is scheduled on January 20, while the bid submission and opening is on February 17. The power-supply contract is good for 20 years, commencing September 2024. It can be recalled that the first CSP for the 1,200-MW capacity was declared a failure after only Atimonan One Energy Inc. of MGen submitted a bid. MGen is the powergeneration arm of Meralco. Thereafter, the Department of Energy (DOE) told Meralco to revise the TOR so more power firms can participate. Energy Secretary Alfonso G. Cusi declined to comment on the revised TOR, saying “I have yet to see it first.” Clean energy advocates said they would vigilantly watch over the upcoming CSP. They warned Meralco that consumers would be on guard to uphold the goal of the CSP in securing affordable electricity from the power firms that will sell their capacity to the country’s largest power distribution firm.

SMC President Ramon Ang affirmed over the weekend the company’s strong interest for the upcoming CSP scheduled next month. “Yes, we will bid,” said Ang in a text message when asked if the power unit of SMC will participate in the competitive bidding. Ang has been telling Meralco to allow other power plants to join the bidding because the original terms of reference (TOR) meant for greenfield power requirement were stringent. To ensure a successful rebidding, Meralco relaxed the rules. Among others, the utility firm now allows

a fuel source “from a technology that complies with the prevailing emission standards under pertinent DENR [Department of Environment and Natural Resources] issuances on emission, and other environmental standards for power plants.” Previously, Meralco’s TOR allow power plants utilizing high-efficiency, low-emission technology. Mariveles Power Generation Corp., which is a joint venture between SMC Global Power Holding Corp. and Meralco PowerGen Corp. (MGen), withdrew from the first CSP

AirAsia PHL hikes flight frequencies of 8 routes

Jollibee to further expand North American presence

irAsia Philippines on Friday announced an increase in the flight frequencies of eight routes in the first quarter of 2020. Beginning January, the carrier confirmed it has already increased the frequencies of the following flights: Clark to Iloilo; Iloilo to Clark—from three times a week to daily; and Cebu to Kuala Lumpur; Kuala Lumpur to Cebu—from three times a week to four times a week. Starting March 29, on the other hand, four more routes will increase frequencies: Clark to Tacloban; Tacloban to Clark—from three times to four times a week; and Cebu to Puerto Princesa; Puerto Princesa to Cebu—from three times a week to daily. In a statement, the carrier noted the high demand for these routes. “Our adjustments are well guided by data, and I am very optimistic about the tourism boost this will bring to our country in the summer months,” AirAsia Philippines Chief Executive Officer Ricardo Isla said. Isla added that welcoming the New Year with additional flights was the local carrier’s way of providing more options to guests, helping them tick off more destinations in their bucket list. The carrier operates more than 500 weekly domestic and international flights from Manila, Clark, Cebu and Kalibo. PNA

By VG Cabuag @villygc

ast-food store Jollibee, the flagship brand of Jollibee Foods Corp., said it ended the decade with back-to-back milestone openings in Chandler, the first in Arizona, the United States and Regina, the first in the province of Saskatchewan, Canada. “The openings were greeted by thousands of people in line, many of whom camped out for as long as three days amid extremely cold temperatures,” it said. The two openings bring Jollibee’s total store count in the US and Canada to 50, and are part of the brand’s accelerated North American expansion plan to grow to 250 stores, some 150 branches in the US and 100 branches in Canada. In 2019 alone, the brand more than doubled its store count in Canada. For 2020, the brand’s expansion in Canada will focus on Ontario, Manitoba, Alberta, British Columbia and Quebec. At the same time, the brand’s areas of focus in the US will be in Florida, New Jersey, New York, Maryland, Texas, Nevada, California and Hawaii. Profits of the local fast-food giant has

BusinessMirror file photo

been falling, as well as its stock price as investors punish the company for its acquisition of the company that owns The Coffee Bean & Tea Leaf (CBTL) brand. Jollibee’s net income fell 25 percent to P4.53 billion during the January to September from last year’s P6.08 billion, hurt by the losses from Smashburger in the US and Red Ribbon in the Philippines. “Production in the new Red Ribbon commissary had reached normal volume

level in September 2019, but productivity level has yet to reach the desired level, which is expected to be achieved by the first quarter of 2020,” the company said. For the third quarter alone, the company’s losses were narrower at 8 percent to P1.87 billion, from last year’s P2.03 billion. The company said the profit for the third quarter included an extraordinary gain of P1.3 billion arising from the purchase of CBTL brand, which was completed on September 24, 2019. Jollibee said it transferred CBTL’s trademarks to a new company based in Ireland, immediately after the acquisition. This company is a wholly owned subsidiary of Super Magnificent Coffee Co., based in Singapore, and owned 80 percent by Jollibee through other units, also based in Singapore. As part of the ownership restructuring, the trademarks of CBTL are required by accounting rules and regulations to be valued by an independent third party. The valuation was performed independently by Isla Lipana and Co., a PwC member-firm. The trademarks and related intellectual property were valued at $354 million. Jollibee shares closed Friday at P214.80 apiece.

AHR spends ₧650M for Palawan hotel expansion By Elijah Felice E. Rosales @alyasjah

storia Hotels and Resorts (AHR) has invested P650 million in expanding its Palawan facilities, as the firm is anticipating a 20-percent growth in occupancy rate in the next three years fueled by the rise of tourists visiting Puerto Princesa. In a statement last Friday, AHR COO Vivian S. Ng said the firm saw the need to further upgrade the facilities of Astoria Palawan to take advantage of the growing number of tourist arrivals seen by Puerto Princesa across all segments. She explained the Palawan hotel will

be banking on day tour packages, meetings, incentives, conference and exhibitions (MICE), among others. By targeting these markets, Ng said AHR is expecting Astoria Palawan to increase its occupancy by 20 percent across the board. “In the next three years, our growth drivers will be the day tour packages, the MICE—meetings, incentives, conference and exhibitions—market, European leisure travelers and weekend family staycations,” Ng said. “We are hoping to increase occupancy by 20 percent across the board by addressing these different market segments and targeting market by seasonal promotions.”

Bulk of the P650 million expansion capital will go to the construction of a new 52-room building that will feature a private pool, a children’s playroom and a laundry room for guests. The firm will upgrade of the resort’s leisure features to promote snorkeling around the nearby sandbar and around the resort, as well as launch eco-cultural activities. The expansion capital will also be used for the construction of a new seafood restaurant, to be named as The Habitat, and a new infinity pool. Astoria Palawan’s upgrade is eyed to be completed by the middle of this year, in time for the opening of a new four-lane highway expanding access

to the hotel. At present, Astoria Palawan offers 150 rooms. AHR President and CEO Jeffrey T. Ng said the Palawan hotel is already hitting an occupancy rate of over 80 percent. This, he said, makes it imperative for the hotel to expand to accommodate more guests. “So we think with that kind of rate, it’s just but necessary for us to expand now in time for completion probably [middle] of next year. With the tremendous growth of the city plus the completion of the Puerto Princesa International Airport, we expect more local and international tourist arrivals in Puerto Princesa. So we feel that 150 rooms is not enough,” Ng said.

Automakers sow worry on future C armakers extended a streak of strong United States sales by slathering on the incentives and pumping up deliveries to fleet customers in 2019, calling into question whether the companies can maintain momentum into the new decade. While “industrywide” deliveries exceeded 17 million for an unprecedented fifth consecutive year, sales slowed in the final months of 2019. General Motors Co. (GM) and Fiat Chrysler Automobiles NV reported fourth-quarter sales declines that were largely in line with analyst estimates, while Toyota Motor Corp. and Honda Motor Co. posted surprise December decreases. The good run automakers have been on the last few years is also less impressive beneath the surface. While the number of new vehicles consumers are buying at retail peaked years ago, manufacturers have propped up sales by selling to rental-car companies. Market researcher JD Power estimated carmakers spent about $4,600 on incentives per vehicle in the last month of the year, a record. GM, Fiat Chrysler and Ford Motor Co. shares fell by more than benchmark indexes Friday after a gauge of US manufacturing activity unexpectedly dropped to the worst reading since June 2009. All three stocks trailed the S&P 500 in 2019. Ford’s December sales dropped

1.5 percent in December, RBC Capital Markets analyst Joe Spak wrote in a report late Friday, citing researcher Autodata and RBC’s own estimates. The automaker has scheduled the public release of its fourth-quarter and full-year results for January 6. Nissan Motor Co. reported the biggest decline of the day among major automakers, limping over the finish line last year with an almost 30-percent plunge in December. In its first full year without longtime leader Carlos Ghosn, deliveries dropped 9.9 percent. For 2020, RBC’s Spak estimates that US sales will drop to 16.4 million. Others are less pessimistic, with car-shopping researcher, Edmunds, predicting another year north of 17 million. A softening economy probably won’t be to blame if sales dip below that threshold this year, says Jeff Schuster, senior vice president of forecasting for researcher LMC Automotive. Instead, he points to sticker shock for buyers on a budget. “We’re expecting a decline to 16.8 million for 2020 because transaction prices are continuing to rise,” Schuster said. “The affordability problem is affecting those first-time and entrylevel buyers, pushing them to the used-car market. It’s not a massive exodus from new car sales, but that adds additional pressure to that 17 million level and that’s why we’ll see a dip.” Bloomberg News

DENR to clean up Manila Bay daily T

he Department of Environment and Natural Resources (DENR) said its employees, including those doing “desk jobs,” will be out in the field doing daily cleanup activities along Manila Bay in the next few days. Environment Secretary Roy A. Cimatu said he has ordered the conduct of daily cleanup activities particularly along Manila’s Baywalk area and the Baseco Beach in Tondo. The DENR is mandated to manage the country’s environment and natural resources, and is head of the interagency Manila Bay Task Force. “I want DENR personnel to be out there, cleaning daily, and those with desk jobs to experience how it is to work in the field,” Cimatu said in a statement. He recently met DENR officials and employees during a “New Year’s Call” held at the DENR Central Office in Quezon City, on Friday, where he gave the instruction. Cimatu’s directive was addressed particularly to those holding office at the DENR’s central and regional offices within the Manila Bay region, including bureaus and attached agencies. The environment chief said he wanted the DENR personnel to become “more visible” in the Manila Bay rehabilitation this year. In line with Cimatu’s order, Environment Undersecretary for Priority Programs and Field Operations-Luzon and Manila Bay Task

Force Ground Commander Juan Miguel Cuna issued a memo to the officials and employees assigned to conduct the daily cleanup drives for the first week covering the period January 6 to 10. Based on the memo, 150 DENR workers will be deployed to the Baywalk and Baseco Beach every day, except on January 9, when the annual procession of the Black Nazarene will be held. Assistant Secretaries Ricardo Calderon and Corazon Davis will lead employees from the Forest Management Bureau (FMB) and Biodiversity Management Bureau (BMB) in the cleanup drive scheduled on January 6. FMB and BMB workers are also assigned to clean the area on January 7. They will be supervised by Assistant Directors Armida Andres and Edna Nuestro. On January 8, Cuna and Assistant Secretary Gilbert Gonzales will supervise the groups from FMB and the National Water Resources Board (NWRB). Employees from the DENR Central Office and the Land Management Bureau will do the cleanup on January 10, with Assistant Secretary Joselin Marcus Fragada and NWRB Executive Director Sevillo David Jr. as supervising officials. Cimatu has also directed the DENRNational Capital Region and its four field offices to plan for the succeeding weeks of the cleanup. Jonathan L. Mayuga

Companies BusinessMirror

Monday, January 6, 2020

PSE STOCK QUOTATIONS

January 3, 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 CITYSTATE BANK EAST WEST BANK METROBANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

53.1 154.8 88.6 25 6.21 12.14 65 20.5 36 57.15 112.3 23.45 188.3 57.8 0.88 1.86 18.38 3.81 850.5 0.8 175 1828

54 155 89 25.05 8.49 12.18 65.05 20.8 36.5 57.5 130 23.5 189 58.1 1 1.89 18.42 3.93 895 0.83 177 1840

54 154 88 25 8.49 11.78 64.8 20.4 35.7 57.5 130 23.6 190.2 58 1.07 1.85 18.02 3.81 850 0.8 175 1835

54 158.3 89.9 25.05 8.49 12.2 65.95 20.4 36.7 57.5 130 23.6 192.8 58.1 1.07 1.86 18.38 4 851 0.83 175 1835

54 154 87 24.9 8.49 11.78 64.7 20.4 35.7 57.1 130 23.5 186.3 57.8 0.99 1.83 18.02 3.8 850 0.8 175 1825

54 155 89 25 8.49 12.18 65 20.4 36 57.5 130 23.5 189 57.8 1 1.86 18.38 3.93 850.5 0.83 175 1825

50 2449500 1849370 233400 700 280000 3384710 2600 244500 2080 70 161000 575500 1790 58000 66000 8300 41000 260 312000 280 110

2700 381438443 163315684.5 5827510 5943 3388484 219926854.5 53040 8878560 119582 9100 3783610 108860477 103532 58040 122290 151448 156720 221055 250340 49000 201500

INDUSTRIAL

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

HOLDING & FRIMS

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

-43034247 15006841 348396 -113195688.5 -6125320 17250 -32094713 5580 40320 -0 -

2.43 1.21 34.9 0.232 23 68 312.4 9.21 4.17 3.83 11.72 33.9 8.43 13.2 2.9 90 15.26 4.81 9.48 7.22 83.9 0.51 1.37 38.4 214.4 6.1 11.8 1.91 9.89 2.2 5.26 0.117 148.3 1.18 2.45 63.9 68 2.09 14.7 9.41 13.58 16.22 10.02 0.96 0.87 2.18 4.85 30 2 8.01 1.21 0.82 4.95

2.44 1.28 34.95 0.239 23.2 68.4 314 9.22 4.18 4.1 12 34.2 8.44 13.46 2.91 103.6 15.5 5.2 9.6 7.24 84 0.52 1.38 38.5 214.8 6.25 11.9 1.92 9.9 2.22 5.3 0.118 149 1.19 2.6 68.9 72.45 2.1 14.74 9.5 13.7 16.3 10.06 1.01 0.88 2.2 4.88 30.8 2.01 8.14 1.26 0.84 4.96

2.34 1.28 34 0.238 23.65 68 312.8 9.6 4.01 4.1 11.62 33.1 8.4 13.5 2.66 103.6 15.18 4.9 9.5 7.22 84.05 0.51 1.2 38.3 215 6.2 12 1.91 9.9 2.23 5.3 0.115 142 1.22 2.55 64.1 66.55 2.04 14.78 9.79 13.5 16.24 10.08 0.99 0.86 2.15 4.88 30 1.87 7.9 1.23 0.82 3.86

2.48 1.28 35.9 0.238 23.65 68.95 318.8 9.9 4.22 4.1 12 34.4 8.49 13.5 2.9 103.6 15.5 4.9 9.64 7.22 85 0.53 1.41 38.4 218 6.25 12 1.92 10.02 2.23 5.3 0.117 151.5 1.23 2.6 64.1 72.45 2.18 14.78 9.79 13.74 16.38 10.08 1.01 0.89 2.19 4.89 30.9 2.01 8.19 1.26 0.85 4.97

2.31 1.28 34 0.232 23 68 310.4 8.93 4 4.1 11.62 32.9 8.33 13.46 2.66 103.6 15.18 4.9 9.49 7.2 83.8 0.49 1.2 37.5 213.8 6.2 11.76 1.91 9.89 2.15 5.2 0.114 142 1.18 2.55 64 66.55 2.03 14.5 9.41 13.48 16.16 10 0.98 0.85 2.15 4.86 29.8 1.85 7.75 1.23 0.8 3.86

2.44 1.28 34.95 0.232 23 68.4 312.4 9.22 4.18 4.1 12 34.2 8.43 13.46 2.9 103.6 15.5 4.9 9.6 7.22 84 0.52 1.37 38.4 214.8 6.25 11.86 1.91 9.9 2.22 5.3 0.117 149 1.18 2.6 64 72.45 2.09 14.74 9.41 13.7 16.22 10.06 1.01 0.88 2.19 4.86 30 2.01 8.14 1.23 0.84 4.96

7947000 2000 1961100 600000 842500 60430 145910 23151200 1686000 19000 29600 647400 129100 253300 4253000 10 598600 3000 846300 123200 266350 654000 74788000 9900 1396990 13000 1242400 7640000 174600 1707000 8900 1500000 594060 1666000 2000 590 210 4890000 600300 166800 214100 171900 34100 330000 825000 338000 61800 239300 15278000 339300 18000 381000 6972000

19224090 2560 68857995 139680 19553390 4125641 45925674 215551644 7019220 77900 350812 21902325 1085581 3409430 11916900 1036 9227338 14700 8089590 888364 22370693.5 331830 99928340 379010 301408846 81081 14735140 14593410 1729083 3737360 46615 172330 88211538 1977460 5150 37781 14034.5 10297800 8857206 1586310 2911042 2801688 341138 324770 707350 736990 301125 7179380 29796550 2726207 22170 313780 32300210

-1480860 36634225 -5193730 -2249110 16133154 14599977 -879190 -3361410 4050 -1298500 3296510 3987900 -264434 -6034010 -918730 165030.0002 -6709942 113656 -9091900 -1672653 -2120 30198801 307480 -3635300 -6304788 -1399381 -718324 820096.0001 -6048 76650 24300 101730 299560 -685780 -2463820

0.88 9.92 776 52.25 11.28 2.92 6.46 0.67 0.9 6.76 6.45 13.02 0.205 865 5.2 81.85 6.08 0.485 3.72 11.98 0.55 3.42 4.45 1.25 195 1047 163.1 0.76 206.4 0.2 0.191

0.89 10.06 782.5 52.35 11.3 2.97 6.58 0.68 0.93 6.8 6.48 13.44 0.226 874 5.3 82 6.6 0.5 3.87 12 0.58 3.44 4.65 1.28 204.8 1051 164 0.8 214 0.216 0.199

0.9 10.2 776.5 52.25 11.22 2.94 6.58 0.67 0.92 6.84 6.5 13.48 0.205 863 5.43 79.55 6.5 0.485 3.7 12.02 0.59 3.36 4.45 1.2 208.8 1040 164 0.81 214 0.201 0.19

0.91 10.2 797 53.2 11.44 2.98 6.58 0.7 0.94 6.84 6.65 13.48 0.205 879 5.43 82.4 6.64 0.5 3.75 12.04 0.59 3.45 4.45 1.29 208.8 1069 164 0.81 214 0.201 0.2

0.88 9.92 764 51.65 11.18 2.9 6.58 0.67 0.9 6.73 6.45 13.02 0.205 856 5.17 78.3 6.08 0.485 3.7 11.88 0.56 3.3 4.45 1.2 190 1019 161.8 0.75 211.8 0.2 0.19

0.89 10.06 776 52.35 11.3 2.92 6.58 0.67 0.9 6.8 6.45 13.02 0.205 874 5.2 82 6.08 0.5 3.72 12 0.59 3.44 4.45 1.28 204.8 1051 164 0.81 214 0.2 0.2

6551000 22400 474510 1206880 2320700 1550000 300 276000 2082000 1199000 4517000 1200 20000 103330 66000 1970160 36500 28000 105000 5315300 52000 16488000 1000 267000 940 207525 165020 14000 490 1060000 310000

5817920 223417 370806250 63402692 26304572 4530590 1974 186460 1895620 8131410 29384768 15716 4100 90019030 343066 160886798 228861 13860 389440 63781794 29180 56399630 4450 335360 186914 217467150 26971543 11280 104788 213000 59500

-436700 44685 -8416840 25290226.5 -4431626 322830 335466 -3839380 1744550 -312000 24034944.5 -48220 -14666572 18908950 -19171795 -1304505 87702 13300

PROPERTY ARTHALAND CORP 0.81 0.82 0.8 0.82 0.79 0.82 621000 497610 AYALA LAND 44.7 44.75 44.05 45.2 44.05 44.75 9280200 414862890 -111036000 ARANETA PROP 1.3 1.34 1.26 1.34 1.26 1.34 48000 61410 11520 1.98 1.99 1.99 1.99 1.99 1.99 220000 437800 BELLE CORP 0.71 0.73 0.72 0.73 0.71 0.72 434000 312160 -36000 A BROWN CITYLAND DEVT 0.83 0.88 0.85 0.85 0.82 0.83 32000 26720 11900 CEBU HLDG 6.6 6.7 6.9 6.9 6.69 6.7 170300 1153736 913014 4.72 4.8 4.74 4.83 4.7 4.8 192000 914830 -17800 CEB LANDMASTERS 0.53 0.54 0.54 0.54 0.53 0.54 515000 273690 10600 CENTURY PROP CYBER BAY 0.39 0.4 0.4 0.41 0.4 0.4 3830000 1563000 18.86 18.9 19.2 19.2 18.8 18.86 269900 5101880 1614068 DOUBLEDRAGON 9.74 9.8 9.8 9.85 9.8 9.8 121800 1198725 -668930 DM WENCESLAO 0.425 0.43 0.425 0.43 0.425 0.425 140000 59550 EMPIRE EAST EVER GOTESCO 0.1 0.106 0.101 0.101 0.1 0.1 100000 10010 1.51 1.52 1.51 1.53 1.5 1.51 7104000 10797900 3316520 FILINVEST LAND 1.17 1.2 1.2 1.2 1.2 1.2 1000 1200 GLOBAL ESTATE 14.7 14.78 14.76 14.78 14.7 14.78 339500 5005790 -209160 8990 HLDG PHIL INFRADEV 1.22 1.24 1.21 1.27 1.21 1.22 2623000 3211790 -1839780 4.07 4.11 3.92 4.14 3.92 4.07 41665000 168137960 -17641400 MEGAWORLD 0.196 0.197 0.187 0.197 0.184 0.197 7290000 1412090 MRC ALLIED PHIL ESTATES 0.41 0.43 0.42 0.42 0.415 0.415 20000 8350 2.16 2.17 2.1 2.18 2.05 2.17 478000 1019490 PRIMEX CORP 29.35 29.5 28.85 29.8 28.1 29.5 3430700 99996515 50362370 ROBINSONS LAND 0.31 0.32 0.31 0.32 0.31 0.31 190000 59350 PHIL REALTY ROCKWELL 2.05 2.09 2.12 2.13 2.06 2.06 76000 157360 -28840 SHANG PROP 3.1 3.21 3.21 3.21 3.21 3.21 7000 22470 2.41 2.44 2.48 2.48 2.41 2.41 62000 151270 STA LUCIA LAND 42.75 42.8 41.85 43.35 41.6 42.8 11589300 493804680 16300925 SM PRIME HLDG VISTAMALLS 5.68 5.89 5.6 6 5.6 5.89 771300 4347480 1.25 1.26 1.16 1.26 1.15 1.26 6169000 7564060 -370000 SUNTRUST HOME 7.56 7.57 7.59 7.6 7.56 7.57 3862700 29245942 -20979308 VISTA LAND SERVICES ABS CBN 15.82 15.9 15.9 16 15.7 15.9 268600 4268900 GMA NETWORK 5.4 5.41 5.39 5.45 5.39 5.4 546200 2962223 2018 2020 2026 2030 2002 2020 30520 61703360 17930980 GLOBE TELECOM 1008 1016 1000 1031 999 1008 117520 119227140 19448870 PLDT 0.042 0.043 0.042 0.042 0.042 0.042 2000000 84000 APOLLO GLOBAL DFNN INC 4.8 4.9 4.99 5 4.8 4.8 495000 2474270 1.66 1.81 1.67 1.67 1.66 1.66 4000 6650 IMPERIAL 3.77 3.78 4 4 3.76 3.78 5000000 19181230 -1401510 ISM COMM 2.53 2.54 2.51 2.59 2.51 2.54 1015000 2580640 50490.0001 NOW CORP TRANSPACIFIC BR 0.27 0.275 0.28 0.28 0.265 0.27 5710000 1524150 10600 PHILWEB 2.48 2.5 2.52 2.52 2.35 2.5 1218000 2952690 -1733850 10 10.08 10.3 10.3 10.1 10.1 2600 26350 2GO GROUP 16.28 18.5 18.5 18.5 18.5 18.5 1100 20350 ASIAN TERMINALS CHELSEA 5.81 5.83 5.76 5.89 5.75 5.83 903100 5243696 159609 CEBU AIR 87.95 89 88 91 87 87.95 456570 40766068.5 -24981409 135.2 135.5 128.6 136.2 128.6 135.5 2122790 286850160 58494756 INTL CONTAINER 11.28 13.98 12.74 12.74 11 11 5000 56392 -56392 LBC EXPRESS LORENZO SHIPPNG 0.87 0.88 0.87 0.87 0.87 0.87 75000 65250 16.5 16.76 16.94 16.96 16.5 16.5 140800 2374642 -2106996 MACROASIA 0.9 0.99 0.89 0.95 0.89 0.95 4000 3680 METROALLIANCE A PAL HLDG 7.21 7.79 7.79 7.79 7.21 7.21 4900 38029 1.07 1.08 1.04 1.08 1.03 1.08 827000 877100 HARBOR STAR 0.6 0.62 0.6 0.62 0.6 0.6 205000 124530 WATERFRONT 6.91 7.08 7.08 7.08 7.08 7.08 200 1416 CENTRO ESCOLAR FAR EASTERN U 890.5 893.5 891 891 891 891 10 8910 8.88 9.49 8.09 8.09 8.09 8.09 3500 28315 IPEOPLE 0.59 0.61 0.62 0.63 0.6 0.6 1504000 905840 STI HLDG 3.55 3.6 4.12 4.2 3.6 3.6 2256000 8714910 1490 BERJAYA BLOOMBERRY 10.56 10.66 10.84 10.92 10.56 10.56 3926300 41929684 -10037378 PACIFIC ONLINE 2.39 2.5 2.5 2.5 2.5 2.5 4000 10000 -10000 2.37 2.49 2.38 2.38 2.36 2.37 843000 1997070 -896130 LEISURE AND RES 4.54 5.14 4.52 5.14 4.51 5.14 25800 117641 PH RESORTS GRP PREMIUM LEISURE 0.59 0.6 0.58 0.6 0.57 0.6 3145000 1850230 -646680 ALLHOME 11.6 11.62 11.58 11.64 11.5 11.62 705800 8185596 -1664412 2.15 2.16 2.09 2.16 2.09 2.16 389000 825620 METRO RETAIL PUREGOLD 39.8 39.95 40.05 40.3 39.8 39.8 187400 7483360 312354.9997 ROBINSONS RTL 78.7 80.1 79.95 80.1 78.5 80.1 302150 24130437.5 13523766 132.1 141 140 140 140 140 5030 704200 7000 PHIL SEVEN CORP 2.62 2.64 2.65 2.71 2.6 2.64 4339000 11451710 7503610 SSI GROUP WILCON DEPOT 17.9 17.96 17.94 18 17.9 17.9 4782000 86013346 -2720182 APC GROUP 0.41 0.415 0.385 0.415 0.385 0.415 1580000 642250 8.9 9 8.88 9.3 8.75 9 57000 509845 EASYCALL 423 438.4 438.4 438.4 422 438.4 680 297084 GOLDEN BRIA IPM HLDG 7 7.94 7 7 7 7 5400 37800 32900 PRMIERE HORIZON 0.355 0.36 0.345 0.37 0.335 0.36 19220000 6813650 123500 8.8 8.95 8.96 8.96 8.8 8.8 108000 956756 SBS PHIL CORP MINING & OIL ATOK 10.5 10.88 10.96 10.96 10.96 10.96 100 1096 APEX MINING 1.05 1.07 1.05 1.08 1.04 1.07 2411000 2533500 -268420 ABRA MINING 0.0014 0.0015 0.0014 0.0015 0.0014 0.0014 134000000 200600 2.5 2.53 2.41 2.52 2.41 2.5 1876000 4533690 ATLAS MINING 1.1 1.13 1.13 1.13 1.13 1.13 10000 11300 BENGUET A COAL ASIA HLDG 0.27 0.28 0.27 0.27 0.27 0.27 90000 24300 2.89 2.9 2.9 2.9 2.89 2.9 405000 1171980 CENTURY PEAK 6.96 7.29 6.93 7.3 6.93 6.97 29700 205862 DIZON MINES 1.72 1.73 1.78 1.79 1.71 1.73 3707000 6432860 800830 FERRONICKEL GEOGRACE 0.197 0.202 0.202 0.202 0.198 0.202 130000 26140 0.092 0.095 0.092 0.095 0.092 0.095 110000 10180 LEPANTO A 0.0073 0.0077 0.0074 0.0074 0.0072 0.0074 18000000 132000 MANILA MINING A 0.94 0.99 0.98 1 0.95 0.99 260000 254620 MARCVENTURES NIHAO 0.97 1.02 1.02 1.02 0.98 1.02 3000 3020 3.15 3.16 3.2 3.24 3.1 3.15 4727000 14922990 144640 NICKEL ASIA 0.71 0.74 0.73 0.74 0.7 0.7 138000 99160 8640 ORNTL PENINSULA 2.91 2.92 2.86 2.93 2.86 2.92 524000 1523300 PX MINING SEMIRARA MINING 22.15 22.2 22 22.5 22 22.2 233200 5202825 3042540 0.0053 0.0059 0.0053 0.0053 0.0053 0.0053 1000000 5300 UNITED PARAGON 9.45 9.5 10.1 10.54 9 9.5 2229000 21828160 -123993.0003 ACE ENEXOR PHILODRILL 0.01 0.011 0.01 0.011 0.01 0.011 90600000 929800 433000 PXP ENERGY 8.98 8.99 8.5 9.2 8.47 8.98 1421800 12642796 158896 PREFFERED HOUSE PREF A 98 99.75 97.75 97.75 97.6 97.6 90 8796 AC PREF B1 499.4 501 500 501 500 501 11340 5671340 98.9 103.2 98.8 98.8 98.8 98.8 10 988 ALCO PREF B 505 507 505 505 505 505 2000 1010000 AC PREF B2R 100.1 101 100.2 101 100.1 101 12510 1261501 DD PREF SMC FB PREF 2 997 998.5 997 997 997 997 610 608170 108.1 111.6 111.9 111.9 111.9 111.9 10 1119 FGEN PREF G 995 1000 995 995 995 995 2720 2706400 GTCAP PREF B 100.4 101 101 101 100.4 100.4 510 51504 50500 MWIDE PREF PNX PREF 3A 101 101.5 101.5 101.5 101.5 101.5 80 8120 106.8 108.9 108 108 108 108 1000 108000 PNX PREF 3B 1025 1029 1030 1030 1024 1030 1565 1609250 PNX PREF 4 1035 1074 1074 1074 1074 1074 15 16110 PCOR PREF 2B PCOR PREF 3A 1030 1049 1049 1050 1048 1050 19010 19960380 1050 1065 1055 1055 1050 1050 150 157625 PCOR PREF 3B 77.9 78 77.5 77.9 77.5 77.9 26320 2041838 SMC PREF 2C 75 76.95 75 75 75 75 5000 375000 SMC PREF 2E SMC PREF 2F 76.1 76.95 76.1 76.1 76.1 76.1 700 53270 53269.9999 75.15 75.95 75.15 75.15 75.15 75.15 500 37575 SMC PREF 2G 75 75.05 75 75.1 75 75.05 47600 3571618.5 SMC PREF 2H SMC PREF 2I 75.2 76 75.2 75.2 75.2 75.2 10 752 PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

15.04 5.16

16.88 5.45

15 5.34

16.94 5.45

15 5.34

16.9 5.45

51300 84000

791018 452330

WARRANTS LR WARRANT

1.25

-168999.9997 452330

1.37

1.38

1.25

17000

21770

ITALPINAS 3.68 10.08 KEPWEALTH MAKATI FINANCE 2.44 0.77 XURPAS

3.74 10.12 2.52 0.78

3.59 9.8 2.47 0.79

3.77 10.48 2.47 0.8

3.59 9.8 2.47 0.77

3.68 10.08 2.47 0.78

257000 282200 25000 4374000

939870 2864845 61750 3429020

-9000 -

FIRST METRO ETF

118.3

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 117.6

116.1

118.1

116.1

117.6

42360

4994274

96268

www.businessmirror.com.ph

Judge in Peco case wants it moved to another court after MORE’s suit

By Lenie Lectura

@llectura

HE Regional Trial Court (RTC) judge hearing its expropriation case against Panay Electric Co. Inc. has suggested that another court handle the case following a complaint lodged against him by Peco rival, More Electric and Power Corp. (MORE Power).

“This case has been observed to have become too politicized. It may be respectfully suggested for the best interest of the parties that this case be transferred outside the jurisdiction of the Regional Trial Court of Iloilo to be tried and head by the designated judge therein,” Judge Daniel Antonio Gerardo S. Amular of RTC Branch 35 said in his January 2 statement. Based on the 33-page complaint lodged with the Supreme Court on December 12, MORE Power accused Amular for grave misconduct, gross ignorance of the law and violation of the Code of Judicial Conduct. In particular, MORE said Amular violated Canons 1 and 2 of the Code of Judicial Conduct “when he held a private conference inside his chamber but prohibiting the lawyers

of MORE and Peco from attending.” Amular, however, said the complaint was based on allegations and that MORE must prove that he did commit those allegations. “It is a basic legal concept that he who alleges must prove, and mere allegations by themselves would not be given weight because it does not amount to evidence.” Amular also said that he had written the SC on December 17 regarding the complaint. He also said that he wrote the Department of Justice on December 11 to seek for guidance. MORE Power President Roel Castro and company lawyer Hector Teodosio are seeking the removal of Amular as the judge handling the expropriation of the distribution assets of Peco.

STOCK-MARKET OUTLOOK Last week

SHARE prices ended higher last week despite jittery trading for the first business day of the year. The benchmark Philippine Stock Exchange index (PSEi) gained 24.53 points for the first week of the year to close at 7,839.79 points. It was only a two-day trading last week, with the main index falling 1 percent on Thursday, declining as much as 170 points during intraday trade, but it gained 1.2 percent on Friday, wiping out the losses. “Optimism from investors who saw these levels as attractive, triggered a recovery which allowed it to close slightly higher than the open. This momentum continued Friday, ending the week slightly higher the week before. This marks two consecutive weeks of gains,” Christopher Mangun, research head at AAA Securities Inc., said. Value turnover was low at an average of P4.7 billion for the two days of trading, while foreign investors were net sellers at P1.01 billion. Most subindices ended on the green. The broader All Shares index was up 5.87 points to 4,655.54 points, the Financials index was down 19.17 to 1,844.48, the Industrial index rose 49.07 to 9,684.14, the Holding Firms index climbed 39.65 to 7,631.72, the Property index gained 19.15 to 4,173.67, the Services index grew 16.17 to 1,547.27, and the Mining and Oil index fell 71.22 to 8,020.76. For the week, gainers edged losers 97 to 88 and 46 shares were unchanged. Top gainers were ACE Enexor Inc., Cirtek Holdings Philippines Corp., Bogo-Medellin Milling Co. Inc., Easycall Communications Philippines Inc., Fruitas Holdings Inc. and Axelum Resources Corp. Top losers, on the other hand, were Berjaya Philippines Inc., LBC Express Holdings Inc., iPeople Inc., Manila Water Co., PTFC Redevelopment Corp., and Bright Kindle Resources and Investments Inc.

This week

Share prices may continue gaining this week, the first full trading week for the year, as investors are back in the market to trade. For the week, the government will release the inflation figures for December and for the full year of 2019, which investors will base their trade on as a guide. Also, China’s 50-basis-point cut on its required reserve ratio takes effect this week, giving investors more reasons to trade. “The main index continues to trade within the range of 7,700 and 7,900 which it has been at for most of the year. The 7,700 support level has proven to be a strong support and we may not see it go below this level in the coming weeks if investors remain optimistic and build more confidence to start trading this market again, after several setbacks that we saw in 2019,” Mangun said. “We need to see a successful break above 8,000 in the coming weeks to give investors confirmation that it wants to go higher. For that to happen, there has to be a pickup in volume and trading in blue chips,” he said.

Stock picks

Broker Regina Capital Development Corp. (RCDC) gave a buy recommendation on the stock of Megawide Construction Corp. on the promise of a company turnaround this year from its dismal performance for most of 2019. “A continued decline in valuation was seen beginning 2017, after the company posted a similar downturn in ROE [return on equity]. Nevertheless, with 2019 earnings poised to be a springboard for better 2020 financials, RCDC estimates an improving P/E [price to earnings] ratio come the next two years,” it said. It gave a fair value price on the stock at P23 per share. Megawide’s shares closed Friday at P16.22 apiece. Meanwhile, the broker also gave a buy recommendation on the stock of Cebu Landmasters Inc. (CLI) as its financials showed good performance over the past years. “Despite majority of CLI’s topline [61 percent] still stemming from its Cebu projects, in terms of location, Bacolod accounted for the highest growth. This goes to show CLI’s efforts, in its part, to expand its operations outside of Cebu province. Further, the company will soon be rolling out developments in new expansion areas of Bohol and Iloilo while negotiations [are ongoing] for a township project in Cagayan de Oro and a 20-hectare property in Mandaue City,” it said. It gave a fair value price on the stock at P5.30 per share. CLI shares closed last week at P4.80 apiece. VG Cabuag

They alleged that Amular had delayed resolution of the case in favor of Peco as shown by his order to MORE Power to agree to a settlement of the case with Peco during a meeting with Castro and a Peco official in his chamber in September last year. Amular, in his response to MORE Power, denied delaying the expropriation proceedings, saying he was awaiting the SC decision on whether MORE Power’s expropriation powers are constitutional. Also, he cited the numerous expropriation cases that were disposed promptly in the past. “The present expropriation case is a case of first impression. There has been no precedent of this case filed before the entire Philippine judiciary.… So many legal issues confront the court, hence, it is most unfair to charge the court it is delaying the case,” Amular said. MORE Power also pointed to Amular’s decision to ignore the writ of possession (WOP) issued by the previous Iloilo City RTC judge who handled the expropriation case, Judge Yvette Go, as provided under Republic Act 11212 which granted MORE a 25-year franchise as electricity distribution utility in Iloilo City. The new Iloilo City power utility has deposited almost P500 million with the Iloilo City RTC following Judge Go’s issuance of the WOP as

mutual funds

provided under RA 11212. RA 11212, approved by the 17th Congress and signed into law by President Duterte on February 14, 2019, granted MORE the power of eminent domain and the power to expropriate any distribution assets in Iloilo City. It also authorized the Energy Regulatory Commission (ERC) to issue Peco a two-year temporary certificate of public convenience and necessity (CPCN) so it could continue distributing electricity in Iloilo City until MORE Power starts its power distribution. Peco had sought to stop the expropriation of its distribution assets and had the Mandaluyong Regional Trial Court declare Sections 10 and 17 of RA 11212, granting MORE Power’s power of eminent domain and expropriation, as unconstitutional because they allegedly deprived Peco of its rights. The SC, however, issued on December 3, 2019, a temporary restraining order to stop the Mandaluyong Court from enforcing its ruling. The TRO remains in effect until the SC decides whether the Mandaluyong RTC erred in declaring unconstitutional the expropriation powers given by Congress to MORE Power. Amular had asked the Chief Justice in his letter last month if his court can proceed notwithstanding the pending case before the SC. January 2, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 251.89 -0.13% 1.61% -0.73% -0.45% ATRAM Alpha Opportunity Fund, Inc. -a 1.3823 -4.08% 1.54% -3.63% 0.28% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.6791 -5.75% -1.51% -3.54% -0.45% Climbs Share Capital Equity Investment Fund Corp. -a 0.8975 0.8% n.a. n.a. -0.6% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8495 3.5% n.a. n.a. -0.42% First Metro Save and Learn Equity Fund,Inc. -a 5.3296 1.09% 2.8% -0.89% -0.29% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8539 2.56% -1.3% n.a. -0.33% MBG Equity Investment Fund, Inc. -a 103.47 -11.28% n.a. n.a. 0.06% PAMI Equity Index Fund, Inc. -a 51.2915 4.2% 4.17% n.a. -0.36% Philam Strategic Growth Fund, Inc. -a 532.9 3.5% 2.82% -0.29% -0.39% Philequity Alpha One Fund, Inc. -a,d,8 1.0301 n.a. n.a. n.a. 0.37% Philequity Dividend Yield Fund, Inc. -a 1.2869 2.62% 3.45% 0.47% -0.39% Philequity Fund, Inc. -a 37.8971 3.45% 4.37% 0.38% -0.4% Philequity MSCI Philippine Index Fund, Inc. -a,1 1.0181 n.a. n.a. n.a. -0.36% 5.34% Philequity PSE Index Fund Inc. -a 5.2235 4.8% 1.64% -0.36% Philippine Stock Index Fund Corp. -a 872.08 5.27% 4.77% 1.58% -0.35% Soldivo Strategic Growth Fund, Inc. -a 0.8517 -1.13% 1.65% n.a. -0.36% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.2102 3.71% 3.98% 0.59% -0.46% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 1.0009 4.87% 4.56% n.a. -0.35% United Fund, Inc. -a 3.654 4.36% 5.69% 2.36% -0.46% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 116.9625 5.61% 5.5% 2.55% -0.33% ATRAM AsiaPlus Equity Fund, Inc. -b $1.0259 11% 7.04% 0.78% 0.23% Sun Life Prosperity World Voyager Fund, Inc. -a $1.372 24.13% 9.82% n.a. 0.07% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5631 -5.36% -2.1% -4.16% -0.24% ATRAM Philippine Balanced Fund, Inc. -a 2.1813 -1.27% -0.54% -1.47% -0.24% First Metro Save and Learn Balanced Fund Inc. -a 2.632 3.46% 2.85% -1.23% -0.17% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2285 n.a. n.a. n.a. -0.78% Grepalife Balanced Fund Corporation -a 1.3294 1.92% n.a. n.a. 0% NCM Mutual Fund of the Phils., Inc. -a N.S. N.S. N.S. N.S. N.S. PAMI Horizon Fund, Inc. -a 3.7895 7.21% 2.58% 0.3% -0.23% Philam Fund, Inc. -a 16.962 6.61% 2.5% 0.21% -0.23% Solidaritas Fund, Inc. -a 2.1258 2.58% 2.2% 0.89% -0.43% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.864 5.81% 3.44% 0.54% -0.27% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 1.0158 n.a. n.a. n.a. -0.23% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 0.9965 n.a. n.a. n.a. -0.22% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.9933 n.a. n.a. n.a. -0.24% Sun Life Prosperity Dynamic Fund, Inc. -a 0.975 5.77% 2.85% -0.5% -0.38% Primarily invested in foreign currency securities $0.03823 8.48% 3.08% 2.02% 0.16% Cocolife Dollar Fund Builder, Inc. -a PAMI Asia Balanced Fund, Inc. -a $1.0331 11.33% 5.4% 0.65% 0.05% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.8944 17.69% 7.78% 3.96% 0% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.125 11.93% 4.6% n.a. 0.02% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 357.8 4.2% 2.75% 2.31% -0.01% ATRAM Corporate Bond Fund, Inc. -a 1.9017 2.3% -0.32% -0.74% 0.02% Cocolife Fixed Income Fund, Inc. -a 3.1144 4.83% 5.09% 5.17% 0.01% Ekklesia Mutual Fund Inc. -a 2.225 4.44% 2.27% 1.97% 0.06% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3589 6.79% 2.26% 1.51% 0% Grepalife Fixed Income Fund Corp. -a P 1.6065 2.72% 0.67% -0.19% 0% Philam Bond Fund, Inc. -a 4.3722 11.54% 2.62% 1.68% 0% Philequity Peso Bond Fund, Inc. -a 3.7882 7.71% 2.95% 1.48% 0.3% Soldivo Bond Fund, Inc. -a 0.9642 8.03% 1.51% n.a. 0.03% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.075 11.2% 4.59% 2.63% 0% Sun Life Prosperity GS Fund, Inc. -a 1.7008 10.47% 4.12% 2.1% -0.02% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $468.22 4.45% 2.7% 2.78% 0.04% Є219.73 3.33% 1.59% 1.29% 0.01% ALFM Euro Bond Fund, Inc. -a ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2057 7.14% 3.2% 2.56% -0.05% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 3.61% 1.46% 1.29% 0% Grepalife Dollar Bond Fund Corp. -a $1.7091 1.11% -0.06% 0.12% 0% PAMI Global Bond Fund, Inc -a $1.094 5.7% 1.42% -0.65% 0.09% Philam Dollar Bond Fund, Inc. -a $2.4034 10.71% 3.67% 2.98% 0.06% Philequity Dollar Income Fund Inc. -a $0.0603144 5.85% 2.26% 2.01% -0.06% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1751 10.56% 3.07% 2.46% 0.11% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 125.78 4.09% 2.85% 2.17% 0.01% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.03 n.a. n.a. n.a. 0.01% Philam Managed Income Fund, Inc. -a 1.2563 6.35% 3.06% 1.71% 0% Sun Life Prosperity Money Market Fund, Inc. -a 1.2643 3.74% 2.88% 2.36% 0.02% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0371 2.11% n.a. n.a. 0% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $0.99 n.a. n.a. n.a. 0% 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."

The World BusinessMirror

www.businessmirror.com.ph

Editor: Angel R. Calso • Monday, January 6, 2020 B3

Trump issues new threats as body of Gen. Soleimani arrives in Iran T

EHRAN, Iran—The body of Gen. Qassem Soleimani, who was killed in a US drone strike, arrived on Sunday in Iran to throngs of mourners, as President Donald J. Trump threatened to bomb 52 sites in the Islamic Republic if Tehran retaliates by attacking Americans. Soleimani’s death on Friday in Iraq, further heightens tensions between Tehran and Washington after months of trading attacks and threats that put the wider Middle East on edge. The conflict is rooted in Trump pulling out of Iran’s nuclear deal with world powers, an accord likely to further unravel as Tehran is expected to announce as early as Sunday it will break another set of limits. Iran has promised “harsh revenge.” Already, a series of rockets launched in Baghdad late Saturday fell inside or near the Green Zone, which are houses, government offices and foreign embassies, including the US Embassy. Trump wrote on Twitter afterward that the US had already “targeted 52 Iranian sites [representing the 52 American hostages taken by Iran many years ago], some at a very high level and important to Iran, and the Iranian culture.” Trump did not identify the targets but added that they would be “hit very fast and very hard.” After thousands in Baghdad on Saturday mourned Soleimani and

others killed in the strike, authorities flew the general’s body to the southwestern Iranian city of Ahvaz, according to the state-run IRNA news agency. An honor guard stood by early Sunday as mourners carried the flag-draped coffins of Soleimani, and other Guard members off the tarmac. Officials brought Soleimani’s body to Ahvaz, a city that was a focus of fighting during the bloody, 1980 to 1988 war between Iraq and Iran, in which the general slowly grew to prominence. After that war, Soleimani joined the Guard’s newly formed Quds, or Jerusalem, Force, an expeditionary force that works with Iranian proxy forces in countries, like Iraq, Lebanon and Yemen. Authorities also plan to take Soleimani’s body to Mashhad later on Sunday, as well as Tehran and Qom on Monday for public mourning processions, then onto his hometown of Kerman for burial on Tuesday. Soleimani was the architect of Iran’s regional policy of mobilizing militias across Iraq, Syria and Lebanon, including in the war against the Islamic State group. He was also blamed for attacks on US troops and American allies going back decades. Though it’s unclear how or when Iran may respond, any retaliation was likely to come after three days of mourning declared in both Iran and Iraq. All eyes were on Iraq, where America and Iran have com-

MOURNERS carry the coffins of Iran’s Gen. Qassem Soleimani and Abu Mahdi al-Muhandis, deputy commander of Iran-backed militias at the Imam Ali shrine in Najaf, Iraq, on Saturday, January 4, 2020. Iran has vowed “harsh retaliation” for the US air strike near Baghdad’s airport that killed Tehran’s top general and the architect of its interventions across the Middle East, as tensions soared in the wake of the targeted killing. AP PHOTO/ANMAR KHALIL

peted for influence since the 2003 US-led invasion. After the air strike early Friday, the US-led coalition has scaled back operations and boosted “security and defensive measures” at bases hosting coalition forces in Iraq, a coalition of-

ficial said on condition of anonymity according to regulations. Meanwhile, the US has dispatched another 3,000 troops to neighboring Kuwait, the latest in a series of deployments in recent months as the standoff with Iran has worsened.

Protesters held demonstrations in dozens of US cities on Saturday over Trump’s decisions to kill Soleimani and deploy more troops to the Middle East. In a thinly veiled threat, one of the Iran-backed militia, Asaib Ahl

al-Haq, or League of the Righteous, called on Iraqi security forces to stay at least a kilometer (0.6 miles) away from US bases starting Sunday night. However, US troops are invariably based in Iraqi military posts alongside local forces. Iraq’s government, which is closely allied with Iran, condemned the air strike that killed Soleimani, calling it an attack on its national sovereignty. Parliament is meeting for an emergency session on Sunday, and the government has come under mounting pressure to expel the 5,200 American troops who are based in the country to help prevent a resurgence of the Islamic State group. Also on Saturday, Nato temporarily suspended all training activities in Iraq due to safety concerns, Canadian Defense Minister Harjit Sajjan said. The US has ordered all citizens to leave Iraq and temporarily closed its embassy in Baghdad, where Iranbacked militiamen and their supporters staged two days of violent protests in which they breached the compound. Britain and France have warned their citizens to avoid or strictly limit travel in Iraq. No one was hurt in the embassy protests, which came in response to US air strikes that killed 25 Iranbacked militiamen in Iraq and Syria. The US blamed the militia for a rocket attack that killed a US contractor in northern Iraq. AP

Death toll from air strike China names new HK liaison head as protests drag on C in Tripoli climbs to 30 C

AIRO—The death toll from an air strike that slammed into a military academy in Libya’s capital climbed to at least 30 people, most of them students, health authorities said on Sunday. Tripoli has been the scene of fighting since April between the self-styled Libyan National Army (LNA) led by Gen. Khalifa Hifter, and an array of militias loosely allied with the weak but UN-supported government that holds the capital. The air strike took place late Saturday in the capital’s Hadaba area, just south of the city center where fighting has been raging for months. The ambulance service in Tripoli said the air strike also wounded at least 33 others. It posted images of dead bodies and wounded people being treated at a hospital. The UN Support Mission in Libya condemned in “the strongest terms” the attack. The Tripoli-based government blamed the air

strike on the self-styled Libyan National Army. A spokesman for the LNA did not respond to phone calls seeking comment. The fighting for Tripoli escalated in recent weeks after Hifter declared a “final” and decisive battle for the capital. That followed a military and maritime agreement when Tripoli authorities signed with their ally Turkey calling for the deployment of Turkish troops to Libya. The fighting has threatened to plunge Libya into violence and chaos rivaling the 2011 conflict that ousted and later killed its ruler Muammar Gaddafi. The country is now divided between the UNsupported administration in the west, and a rival government in the east aligned with the LNA. France, Russia, Jordan, the United Arab Emirates, and other key Arab countries support Hifter and his allies in the east. The Tripoli-based government is backed by Qatar, Italy and Turkey. AP

Al-Shabab attacks base used by US, local troops in Kenya

AIROBI, Kenya—The al-Shabab extremist group attacked a military base used by US and Kenyan troops in coastal Kenya early Sunday, with US aircraft and vehicles destroyed, Kenyan authorities said. Kenya’s military said the predawn breach was repulsed and at least four attackers were killed. A plume of black smoke rose above the base near the Somali border. Residents said a car bomb had exploded. The US Africa Command confirmed the attack on Camp Simba, in Lamu county. Spokesman Col. Christopher Karns called al-Shabab’s claims, including of inflicting severe casualties, “grossly exaggerated.” There was no report of US or Kenyan deaths. The camp has under 100 US personnel, according to Pentagon figures. An internal Kenyan police report seen by The Associated Press said two fixed-wing aircraft, one US and one Kenyan, were destroyed along with two US helicopters and multiple US vehicles at the Manda Bay military airstrip. The report said explosions were heard at around 5:30 a.m. from the direction of the airstrip. The scene, now secured, indicated that al-Shabab likely gained entry “to conduct targeted attacks,” the report said. Al-Shabab’s claim of responsibility said the attack destroyed US equipment including aircraft and vehicles. Al-Shabab, which is linked to al-Qaeda, is based

in neighboring Somalia, and has launched a number of attacks in Kenya. The group has been the target of a growing number of US air strikes during President Donald J. Trump’s administration. “The airstrip is safe,” the Kenyan military statement said. “Arising from the unsuccessful breach a fire broke out affecting some of the fuel tanks located at the airstrip.” The Kenya Civil Aviation Authority said the airstrip was closed for all operations. The attack comes just over a week after an alShabab truck bomb in Somalia’s capital killed at least 79 people and US air strikes killed seven al-Shabab fighters in response. Last year al-Shabab attacked a US military base inside Somalia. The extremist group has carried out multiple attacks against Kenyan troops in the past in retaliation for Kenya sending troops to Somalia to fight it. Al-Shabab also has attacked civilian targets in Kenya, including buses, schools and shopping malls. The early Sunday attack comes days after a US air strike killed Iran’s top military commander and Iran vowed retaliation, but al-Shabab is a Sunni Muslim group and there is no sign of links to Shiite Iran or proxies. Analyst Rashid Abdi in Twitter posts discussing the attack said it had nothing to do with the tensions in the Middle East but added that Kenyan security services have long been worried that Iran was trying to cultivate ties with al-Shabab. AP

HINA replaced its top official based in Hong Kong, signaling Beijing’s growing frustration with pro-democracy protests that have dragged on for months. Luo Huining will take over from Wang Zhimin as the Hong Kong liaison office director, the government said in a two-sentence statement that didn’t elaborate on the changes in the semiautonomous financial hub. The new official served as Shanxi party secretary from 2016 until November, and became deputy chairman of the financial and economic committee of the National People’s Congress last month. Chi- RIOT police watch as protesters march during a demonstration against “parallel traders” who buy goods in Hong Kong, nese media credited him to resell in mainland China in Sheung Shui, near the Chinese border in Hong Kong, on Sunday, January 5, 2020. Protestwith bringing Shanxi back ers in Hong Kong marched through the border town on Sunday to oppose traders from mainland China. AP PHOTO/ANDY WONG to its feet, enforcing the we don’t give a damn about your feelcentral government’s campaign to Police violence ings,” said Chen Zhao, cofounder of the purge corruption and weed out disLAM’S administration proposed a Montreal-based research firm, Alpine loyal officials. bill last year that would have alMacro, who has insights on China after With support for the protests unlowed extraditions to China for the attending university with some of the diminished after months of violent first time, prompting the protests. nation’s high-ranking officials. “He’s unrest, speculation of Wang’s removal While she has since withdrawn the just a party boss—he has no connecfrom the position has been growing, legislation, the demonstrations pertion with Hong Kong and no foreign particularly after pro-government sisted and has extended to additional affairs expertise.” candidates suffered a resounding demands including an independent Hong Kong has been gripped by defeat in Hong Kong district council inquiry into police violence and dimore than six months of unrest by elections in November. While the polls rect leadership elections. activists demanding greater autonwere for what’s considered to be the Xi used his New Year’s Eve address omy from Beijing, with the protests lowest rung of the city’s government, to defend China’s system for running often turning violent as subway stathe results signaled a rebuke of Beijing Hong Kong, in an unusually high-profile tions, shops and banks are vandalized. and demonstrated underlying public acknowledgment of the Asian financial China’s government has consistently dissatisfaction with Chief Executive center’s political turmoil. backed Lam, including on a mid-DeCarrie Lam’s administration. “Without a harmonious and stable cember visit to Beijing where she met “Wang’s dismissal was long predictenvironment, how can people live in Chinese President Xi Jinping. ed because he appeared to be associpeace and enjoy their work?” Xi asked. “Luo has no relationship with the ated too closely with the pro-Beijing “I sincerely wish Hong Kong well. Hong business community or political arena elites and business leaders, without Kong’s prosperity and stability is the in Hong Kong,” Zhao said. “I think reaching out widely to all social secwish of Hong Kong compatriots and the it will be very difficult for him to be tors especially the poor and the needy,” expectation of our motherland.” helpful for the Hong Kong governSonny Lo, a Hong Kong-based politiLuo worked for the Anhui government, whereas the previous guy knew cal commentator, said Saturday. “His ment between 1982 and 1999. In 2010, Carrie Lam well.” miscalculations of Hong Kong” may he was appointed governor of Qinghai Lam praised Wang for his “staunch have led to his downfall, particularly before being made party secretary in the support” for the government’s efforts after the elections. province in 2013. Bloomberg News “to curb violence and uphold the Rule of Wang was the former director of Law,” according to a statement. She China’s liaison office in Macau, before also welcomed Luo and said that he was appointed to be the top represenunder his leadership the liaison oftative in Hong Kong in 2017. The city, a fice worked to promote “prosperity former British colony, was handed back and stability” and “the integration to China in 1997, and is now a special of Hong Kong into the overall deadministrative region of the country, velopment of the nation and the while Portugal returned Macau two positive development of the relayears later. tionship between the mainland “Luo’s appointment probably signals and Hong Kong.” a hard-line policy from Beijing—that

B4 Monday, January 6, 2020

Aboitiz’s bayanihan kindles Christmas spirit in Tisoy-battered Bicol province

HE Aboitiz Group, led by its social development arm Aboitiz Foundation and its various business units, pooled its resources and immediately reached out to more than 7,000 victims of Typhoon Tisoy (international name: Kammuri) by conducting relief operations and re-energization efforts in Albay and Sorsogon, both of which were badly hit by the onslaught of the strong typhoon.

While holiday cheers filled every family’s home at the start of December, victims of Typhoon Tisoy, which barrelled through the Bicol region last December 2 to 3, were left with destroyed houses and livelihood, no electricity, and poor communication lines, three weeks before Christmas. "Through the help of various Aboitiz business units, we were able to pool as many resources as we could to provide immediate

Aboitiz's business units distributed relief goods in seven affected barangays on top of the food packs and water turned over to the provincial governments of Albay and Sorsogon.

relief assistance to the communities affected by typhoon Tisoy. We want to bring hope to our fellow Filipinos. After all, this is what Christmas is all about,” said Aboitiz Foundation Chief Operating Officer Maribeth L. Marasigan. “We commit to continuously seek more sustainable ways to help rebuild lives and livelihoods," she added. As of December 14, Aboitiz had distributed 7,000 food packs and water to the affected families in Albay and Sorsogon. They also donated tarpaulins and chainsaws to help provide temporary shelters and clean up debris. The Aboitiz Group contributed a total of P4.12 million worth of relief efforts. Over a hundred Aboitiz team members led by AP Renewables, Inc. volunteered to assist in the packing of relief goods and the actual distribution to seven barangays. Meanwhile, AboitizPower Distribution Unit (DU) teamed up with Sorsogon Electric Cooperatives (SORECO) I and II to rehabilitate damaged electrical lines in nine barangays in the Municipality of Irosin and another nine barangays in Sorsogon City. AboitizPower DU deployed about 21 linemen and four boom trucks from Davao Light and Power Company and Visayan Electric Company to fast track the restoration of affected power lines.

GRAND MASCOT PARADE AT MOA. The SM Mall of Asia welcomed 2020 with a Grand Mascot Parade featuring over four hundred mascots and gigantic inflatables spreading cheer around the mall. Photo shows Cara the Cat, Bduck, Catie the Caterpillar and Codie the Clown Fish floating amidst twinkling stars created from 100 world class drones at San Miguel By the Bay.

UNDER ARMOUR OUTLET STORE OPENS IN ACIENDA DESIGNERS OUTLET. At ribbon-cutting rites, from left: Cathay Land Treasurer Christopher Balonan, Athlete's Pro Group President Mark Chan, Freeport Retail's Leasing Manager for Asia Jayden Lewis, former Mayor of Silang, Cavite, Hon. Omil Poblete and Acienda's Centre Director Arman Ilano officially open the Under Armour Outlet Store in Acienda located at Km. 48, Aguinaldo Highway, Silang, Cavite.

Bayanihan ends exciting year with the 13th Fiesta Folkloriada at the CCP

HE Bayanihan Philippine Dance Company first introduced Philippine dances and songs to the world in 1958, at the Brussels World Fair. And the rest is history -- with the Bayanihan winning national and international accolades for the country’s dance tradition & cultural heritage as well as for building a rich reserve of international goodwill -- to this time! Most recently, the Bayanihan won the grand prize in the first ever World Dance Championship for the Federation for International Dance Festivals in America and in the 15th Nova Prata World Festival in Brazil in September 15. It was Bayanihan’s 13th world prize title. Despite a small contingent of Bayanihan performing artists, the Philippine contingent -- with only ten performers and five musicians against huge delegates -- emerged the best and grand winner. Indeed, 2019 has been a busy, fruitful year for Bayanihan bringing Filipino folklore, arts, and music around the globe. The year started with invitations from Palma de Mallorca, Spain, to Buyukcekmece,

Istanbul, Turkey, to Cheonan, South Korea where Bayanihan Executive Director Suzie Benitez served as juror for the world dance competitions. Then it was highlighted by the win in America and Brazil competitions. Plus a two-day swing in Moscow, Russia, for the recent visit of President Rodrigo Roa Duterte. "More than winning, sharing one's cultural traditions and being warmly received in the world's stages strongly fulfills one's dream of actualization," Benitez said. As a fitting year-end finale, the national dance company once again staged the Fiesta Folkloriada at the Cultural Center of the Philippines on December 21. Now on its 13th year, the opening ceremony was hosted by the Philippine Women's University on December 17 with a performance of Filipino Christmas Tradition followed by the Ritual of Water for the symbolic offering of thanksgiving at the Conrado Benitez Hall and Cultural Byways, a parade of costumes, at the Helena Z Benitez Hall. The grand finale at the CCP featured the folk dance companies from Indonesia, Korea, Mexico,

Poland, and the Bayanihan. For more information regarding Bayanihan program and activities, contact tel. +63(2) 8516-3028 or +63(2) 8524-6285 and look for Helen or Monette.

Brooklyn’s New York Pizza Parties continue into the new year!

IZZA lovers, you have good reason to rejoice! You see, Brooklyn’s New York Pizza continues to give you holiday cheer well into 2020 with its pizza gifts that keep on giving which they extended till January 31, 2020. If you recall, the first gift goes like this: for every order of any of our pizzas, you’ll get 50% off

on either of our two new pizza flavors: Chicken Firecracker, which is topped with chicken fillet coated in our awesome Buffalo Wing Sauce and drizzled with our home-made Ranch Dressing, giving the pizza a memorable flavor profile. Or Blue Cheese Pizza, which pairs blue cheese with caramelized onions to elevate its earthy aroma and bring

you back to nature. Isn’t this a very exciting, easy-on-the-pocket offer? What’s more, you can still enjoy our second gift, which is the Chicken Firecracker Pizza and Blue Cheese Pizza in sets that come with Buffalo Wings, The Real Carbonara, and 1.75 L soda. Priced at Php 1,199 for the 10-inch pizza set and Php 1,499 for the 14-inch pizza set, that gives you as much as Php 600 in savings! Such great savings and truly the answer to potlucks to satisfy appetites of family and friends. Brooklyn’s New York Pizza branches are located at Ayala Town Center Alabang – 8850-9999, Ayala Malls Feliz Pasig – 8288-3004, Chino Roces Makati - 8896-9696, Madison Galeries Alabang Hills – 8788-9935, Robinsons Place Ermita - 84050505, Robinsons Las Piñas - 85533555, Tomas Morato Quezon City - 8405-0505. For more information about Brooklyn’s New York Pizza, check out: FB: http://Facebook.com/ BrooklynPizza IG: http://Instagram. com/BrooklynsNewYorkPizza

IN SUDAN, IT’S MORE THAN JUST SOCCER Sports BusinessMirror

| Monday, January 6, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Sudanese al-Difaa (in yellow) and her al-Sumood teammates play in Omdurman, Khartoum’s twin city. AP

By Mariam Fam

The Associated Press

MDURMAN, Sudan—All her life, Elham Balatone wanted to play soccer—like her brothers, like the boys on her street. But in Sudan, where she grew up, women could be flogged for wearing pants, let alone soccer shorts. She heard all the reasons why she had to give up her dream. It’s a Muslim country; the uniform is inappropriate; the sport was meant for men. She played anyway, wearing pants or putting on leggings underneath shorts. “There’s nothing in this world that I love more than soccer. Please let me play,” she told her family. For years, she and other women played largely in the shadows, sometimes on dirt pitches they cleaned themselves, often bouncing from one spot to another. The women finally took center stage when the world watched them play at a Khartoum Stadium as the youth and sports minister, and others celebrated Sudan’s new, officially recognized women’s soccer league. Balatone even had her family’s blessings. But it’s more than just a game. The women’s league became a field of contention as Sudan grapples with the transition from three decades of authoritarian rule that espoused a strict interpretation of Islamic Shariah law and, activists say, disenfranchised women in particular. Transitional authorities have taken some steps to roll back the legacy of ousted President Omar al-Bashir. In November, they overturned a notorious “public order” law that the prime minister said had been used as a “tool

SHIFFRIN STREAK ENDS: SHE’S HUMAN, AFTER ALL

AGREB, Croatia—Mikaela Shiffrin hugged her biggest rival in slalom for a few seconds, and gave her some pats on the back. Just beaten by Petra Vlhova in the first women’s World Cup race of 2020 on Saturday, the American three-time overall champion was gracious in defeat after seeing her winning streak in slaloms, which had lasted for almost a year, ended by the Slovakian skier. “Petra just did an amazing job both runs. She skied really well today. That’s the fight, and it is really an honor to be part of that,” Shiffrin said. Building on a big lead of more than one second from the first leg, Vlhova was also the fastest in the final run to extend her advantage over Shiffrin to 1.31 seconds. “This victory for me is important,” Vlhova said. “I

of exploitation, humiliation,” resulting in “atrocities” against women and the youth. Rights defenders call it a step in the right direction, but say the fight is far from over. Some ultraconservatives, however, have been pushing back. Preacher AbdulHay Yousif and others have painted soccer as part of a battle for Sudan’s identity. “What religion, what Shariah, what manhood would allow a Muslim woman to appear before men...with her arms, legs and some of her thighs exposed, and then run before them,” Yousif told worshippers in October, shortly after the league, made up of 20 teams, started. “By God, these people have not come...for economic development, or social prosperity or scientific elevation. They have come to destroy religion and morals.” He also denounced the youth and sports minister, a woman, saying she “doesn’t believe in what we believe in,” and is a follower of “an apostate”—comments that sparked a legal battle between him and the minister.

A pro-Shariah group that backs Yousif urged preachers “to use their pulpits to make the truth victorious, and to defend the constants of Shariah...and expose the government’s secularization plots.” Critics argue some conservatives are using an old playbook in Sudan: weaponizing stringent religious views to target political opponents, control women and thwart change. “Clearly, this is part of an effort by Yousif to undermine the new government by stimulating a ‘moral panic’ regarding the subversion of gender roles. Partly, it’s about his religious views, but it is predominantly a patriarchal form of gender politics,” said Willow Berridge, a lecturer in history at Newcastle University, who has written about Sudanese Islamists. Yousif and his supporters “tend to occupy the most uncompromising end of the religious spectrum in Sudan.” The preacher’s diatribe have had little direct impact on the league. But Taghreed Awoda, an administrator with one of the teams, al-Difaa, and a feminist, said the showdown was part of a larger fight for change. “To have a women’s soccer league play in Sudan, this dismantles many of the main pillars underpinning the last regime,” she said. Under al-Bashir, laws like those restricting attire were inconsistently applied and disproportionately targeted the poor and less educated, as well as anti-regime activists, Awoda said. Women players were generally left alone if they kept a low profile, although one group was once briefly arrested, she said. Preparations for the league began more than a year ago, in line with the objectives of the international soccer federation Fifa, said Mervat Hussein, head of the women’s soccer committee at the Sudan Football

THE three-time overall champion Mikaela Shiffrin is gracious in defeat after seeing her winning streak in slaloms, which had lasted for almost a year, ended by Petra Vlhova. AP

Association. The efforts accelerated after al-Bashir’s removal, she said. Fifa, which sets criteria for developing women’s soccer, says member-associations have objectives to meet to obtain funding. Women were at the forefront of the protests that, eventually, pushed the military to overthrow al-Bashir in April. Hala al-Karib, regional director of the Strategic Initiative for Women in the Horn of Africa, said this should have translated into more rights, but many laws discriminating against women remain in place even after the public order law was reversed. She said some hardline Islamists are fighting for their interests after losing clout in al-Bashir’s fall, arguing their rhetoric finds little resonance. Women’s issues usually “get turned into bargaining chips,” and risk being sacrificed to appease hardline groups, she said. In the midst of all the wrangling is the story of women who say they just want to play soccer. “These are people who have struggled, toiled and have pressed ahead in the face of so many attempts to destroy their talents,” said Amany Anas, a player for al-Tahadi team. “Now the moment has come when they can show people that women could play just like men.” Al-Difaa player Fatima Gadal said in the past, players sometimes used their own money to buy balls and gear. At times, she skipped buying food to afford bus fare to go play. “We were very much so on the margins.” Some things are still austere. After a recent game in Omdurman, Khartoum’s twin city, the al-Difaa team squeezed into a minibus with cracked windows, rusty interiors and not enough seats. The engine soon quit and team members pushed the bus, cheering when the engine restarted. The players hope official

recognition will now result in more opportunities. Some families asked to enroll their daughters after they saw the league, said Anas. At the Omdurman game, the players picked up fans— men and women. One spectator, Akram Abdel-Aziz, said he didn’t expect to see women play soccer in Sudan. “It’s a lovely thing that I hope will continue. I love the courage of the women on the field,” he said. “I pray and I am a believer...and I can see that women are covered up and dressed modestly.” On the field, most players wear leggings under their shorts, but otherwise are in regular soccer kit, and many don’t cover their hair. Some are not convinced. After praying at the mosque where Yousif preaches, a woman who gave her name only as Balqis said she wouldn’t allow her daughters to follow in the players’ footsteps, stressing the need for modest attire. “We’re Muslim people, and we love our Islam and how religious we are,” she said. “Women sports were fine in closed areas,” she said. The players say there’s no conflict between their faith and their sport. Gadal said she once heard men at the stadium saying women playing the game was “haram,” or religiously forbidden, and the players belonged at home. She ignored them. “I fast, I pray and I perform my Islamic duties. I see no problem,” she said, pointing out that numerous Muslim countries field women’s soccer teams. Balatone, who was raised in a conservative household that is “religious, but not extremist,” said she once explained to her brother why she was so determined to play. She had already given up a lot. She had three passions: singing, soccer and English. She couldn’t afford college, she dropped singing because she was told it’s haram. “When it came to soccer, I said ‘Excuse me, I cannot let soccer go,’” she said. “We live and breathe soccer.”

knew Miki was very fast [in the final run]. If I wanted to win, I had to risk all the time.” Austria’s Katharina Liensberger trailed by a massive 3.49 seconds in third, while Wendy Holdener of Switzerland took fourth spot. “Three-something [seconds] is too much,” Vlhova said about the difference between the top 2 and the rest of the field. “It is like this, we are on another level, me and Mikaela,” she added. Vlhova and Shiffrin were so far ahead, that even a deficit of five seconds was still enough to make it into the top 10. Shiffrin had won all six World Cup races and the world championship event in the discipline since Vlhova last beat her in Flachau, Austria, on January 8, 2019. The pair have won all 24 World Cup slaloms since Frida Hansdotter triumphed in January 2017. The

Olympic champion from Sweden retired last year. Shiffrin and Vlhova are also 1-2 in the season’s slalom and overall standings, with the American leading by 120 and 313 points, respectively. Their next slalom duel will be in 10 days’ time in Flachau. “Some days I am perfect, some days I am like so-so, but with Miki you have to be always perfect,” Vlhova said. “I want to be more stable with my runs.” For Shiffrin, the competition with Vlhova helps her to further improve. “Since Petra has been much stronger the last few years, it definitely brings my motivation to another level,” the American said. “She, with her team, they are one of the few teams who have been able to outdo what I have been able to accomplish with my team. I have a lot of respect for that.” Vlhova earned her 11th career victory, and sixth in slalom, but had never before won on this hill after finishing runner-up in 2017 and again last year. Needing to make up 1.16 seconds on Vlhova in the final leg, Shiffrin used an attacking and error-free run to put pressure on Vlhova, who was the last starter. Vlhova then kept calm and bettered Shiffrin’s time by 0.15 to take the win. She had opened the race earlier with a near-flawless first run. While several racers, including Shiffrin, were faster at the first split time, no one matched Vlhova’s consistency on the steep section of the course. AP

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C2 Monday, January 6, 2020

BACH: NO POLITICS IN TOKYO OLYMPICS I

NTERNATIONAL Olympic Committee (IOC) President Thomas Bach warned athletes against protesting in any form at Tokyo 2020, claiming the Games “must never be a platform to advance political or any other potentially divisive ends.” Bach, in his New Year’s message, urged athletes to respect their fellow competitors at Tokyo 2020 by refraining from political demonstrations. The IOC president reiterated his opposition to the “growing politicization of sport,” which he claimed “leads to no result and, in the end, just deepens existing divisions.” A similar sentiment was expressed during an Olympic Summit in Lausanne last month, although podium protests by athletes were not directly mentioned. There were two protests in the space of 24 hours by American athletes at the 2019 Pan American Games, while Australia’s Mack Horton and Britain’s Duncan Scott refused to share the podium with China’s Sun Yang during the World Aquatics Championships. The IOC’s Rule 50 states that “No kind of demonstration or political, religious or racial propaganda is permitted in any Olympic sites, venues or other areas.” “The Olympic Games are always a global platform for the athletes and their sporting performances,” Bach said. “They are not, and must never be, a platform to advance political or any other potentially divisive ends. “We stand firmly against the growing politicization of sport because only in this way can we accomplish our mission to unite the world in peaceful competition,” he added. “Respecting one’s fellow athletes also means respecting their unique Olympic moment and not distracting it with one’s own political views,” he stressed.

IOC Athletes’ Commission Chairman Kirsty Coventry claimed the majority of athletes on a conference call in October rejected podium demonstrations as a legitimate place to stage a protest at the Olympics. Others, however, said the debate was more nuanced than Coventry had conveyed, with some pointing out the difference in the podium protests which made headlines in 2019. Fencer Race Imboden, an Olympic bronze medalist, knelt during the American national anthem and called for change in the United States, citing racism, gun control, mistreatment of immigrants and opposition to President Donald J. Trump. Hammer thrower Gwen Berry later staged her own protest, raising her right fist at the conclusion of her medal ceremony. The United States Olympic and Paralympic Committee placed both athletes on probation following the Games and warned others who make similar stands—including at Tokyo 2020—will be given harsher punishments. The stands taken by the American duo differed from the actions of Horton and Scott, who protested against Sun’s appearance at the World Championships because of his doping record. The Chinese three-time Olympic champion served a three-month drugs ban in 2014 and is facing up to an eight-year suspension after one of his entourage was found to have smashed his blood vial during a row with testers in September 2018. Insidethegames Race Imboden protests on the podium during the 2019 Pan American Games in Lima.

Mario to appear at Games Opening Ceremony

IDEO-game icon Mario and flying cars could be part of the Tokyo 2020 Olympic Opening Ceremony. Kyodo News said both could feature as animated characters and new technology are due to play prominent roles. Mario, the famous plumber who stars in numerous Nintendo games, is in line to take “center stage” with organizers hoping to deliver a message of peace. At Rio 2016, Japanese Prime Minister Shinzo Abe dressed up as Mario in the handover segment of the Closing Ceremony. Other Japanese characters including Hello Kitty, robotic cat Doraemon and footballer Captain Tsubasa are also expected to appear at Tokyo 2020 to, again, highlight Japan’s famous cartoon industry. According

to Kyodo News, one idea is for rival characters to shake hands in line with the Olympic Truce. The message of peace could also be displayed by the release of paper doves. People riding in flying cars, meanwhile, might be used to highlight Japanese innovation. This could also see hydrogen, a next-generation energy source, used as the fuel which lights the Olympic cauldron. In what would be another example of organizers using the Games to promote the disaster-hit region of Fukushima, a plant from the prefecture may produce the hydrogen. Around 16,000 people died after an earthquake and tsunami caused an accident at a nuclear power plant there in 2011. The Japanese leg of the Olympic Torch Relay will begin in Fukushima with some using the term “Reconstruction Olympics.” Baseball and softball matches will also be held there, while flowers grown in areas affected by the earthquake will be used as bouquets for medal winners. Japan’s fight against natural disasters could also be a theme of the Olympic Opening Ceremony, which will be held at Tokyo’s New National Stadium on July 24. Mansai Nomura, a famous Japanese actor, is the creative director of the Opening and Closing Ceremonies for both the 2020 Olympic and Paralympic Games. He has been tipped to coordinate the events together as a “four-part series,” instead of them being separate entities.

Insidethegames

orts

sMirror

Monday, January 6, 2020

Rick Olivares bleachersbrew@gmail.com

Bleachers’ Brew

A shift in tactics for UP?

Abby Arevalo is one of the players to watch in the 72-hole tournament.

Arevalo boosts National Stroke Play at Riviera

bby Arevalo returns to very site of one of her biggest triumphs as she firms up the women’s cast in the National Stroke Play Championship beginning on Tuesday at Riviera’s Langer course, in Silang, Cavite. Arevalo birdied the last hole to edge Pauline del Rosario by one and snatch the Riviera crown of the Ladies Philippine Golf Tour in 2017, joining the elite roster of amateurs who have won in the country’s premier ladies circuit. She went on to post three more wins while with the San Jose State University and teamed up with individual gold medalist Bianca Pagdanganan and Lois Kaye Go in the Philippines’s gold-medal romp in the recent 30th Southeast Asian Games (SEAG) at Luisita. That should make her one of the players to watch in the 72-hole tournament kicking off the PLDT Amateur Golf Tour season with Go seeking to make it two-in-row in the event organized and conducted by the National Golf Association of the Philippines. But out to crowd the talented duo are reigning WExpress RVF Cup and MVPSF [MVP Sports Foundation] Visayas regional champion Junia Gabasa, Philippine Junior Amateur, Philippine Amateur Open Match Play, Northern Luzon Regional titlist Rianne Malixi and Cangolf Open winner Nicole Abelar. Like Arevalo, Korean Kim Seo Yun also hopes to recall the form that netted her the Riviera MVPSF Amateur crown last November, guaranteeing a spirited battle for top honors in the event sponsored by the MVPSF and backed by Cignal, Metro Pacific Investments and Summit Ridge as official hotel. Also in the fold are Diana Araneta, Tomi Arejola, Laia Barro, Sophia Blanco, Sofia Chabon, Samantha Dizon, Laurea Duque, Bernice Ilas, Samantha Martirez and Eagle Ace Superal. Others tipped to contend are Hong Kong’s Vivian Lee and Japanese Riko Nagai. The battle for the men’s crown is also expected to go down-to-the-wire with Japanese Gen Nagai bracing for another tight finish against the country’s leading players, headed by Aidric Chan, Carl Corpus and Sean Ramos, members of the SEAG bronze medal team, along with Elee Bisera, Dan Cruz, Weiwei Gao, David Guangko, Josh Jorge, Gabby Macalaguim, Gab Manotoc, Don Petil and Peter Tyler Po. Ryan Monsalve is also out to sustain his form after teaming up with Lanz Uy in last month’s National Doubles. Uy, however, won’t be around together with Jed Dy.

GIN KINGS-BOLTS SHOWDOWN UP T

HE holidays could prove to be the great equalizer for Barangay Ginebra San Miguel and Meralco as they brace for Game One of their best-of-five Finals showdown for the Philippine Basketball Association Governors’ Cup. The Gin Kings went four games in disposing of NorthPort, clinching the first Finals slot with a Game Four 120-107 win over the Batang Pier on December 20 last year, at the Smart Araneta Coliseum. On December 23, at the Ynares Center, in Antipolo City, the Bolts toiled in Game Five to subdue the TNT KaTropa, 89-78. But those three luxurious days the Gin Kings had the privilege of savoring was thrown out the window. There was ample time for both squads

for their players to heal their aching bodies from the semifinals grind, making the Finals all even with Game One set a day earlier from the original schedule on Tuesday, at the Smart Araneta Coliseum. “We feel like we’re in good shape,” Meralco Coach Norman Black said. “We tried to pace our players throughout the entire conference to make sure they would [be up to the task].” “We went the limit as far as the semifinals is concerned,” Black said. “But we are ready.” The Finals of the season-ending conference is unique. Game Two will be held three days later as the teams travel to the Quezon Convention Center, in Lucena City. The Finals go back to the Big Dome for Game Three on Sunday, and will remain in Cubao for

Game Four on January 15. If necessary, Game Five will be on January 17, at the Mall of Asia Arena, Game Six on January 19, Game Seven on January 22 both at the Philippine Arena, in Bulacan. The Gin Kings beat the Bolts in the 2016 and 2017 season but that doesn’t give them an automatic edge. There’s a renewed faith at Meralco with the arrival of Allein Maliksi, Raymond Almazan and rookie Bong Quinto, who provided the quality minutes and numbers since the eliminations. They are expected to step up whenever mainstays Chris Newsome, Baser Amer and twotime Best Import Allen Durham need help. After languishing in fourth place after the elimination round, Ginebra was a beast. The

Blatche finishes tour of duty with Gilas T

HE Samahang Basketbol ng Pilipinas (SBP) confirmed over the weekend that Andray Blatche would no longer be part of the national men’s basketball team program. “Andray has helped us a lot in the past but I think it’s time we move on from him,” SBP President Al Panlilio told reporters on the side during the press conference for the Philippine Basketball Association Governors Cup Finals on Saturday at the Philippine Basketball Association

offices in Libis, Quezon City, on Saturday. Blatche, therefore, won’t be in Gilas Pilipinas uniform in the Fiba Asia Cup Olympic Qualifiers next month and in other future international competitions. Blatche, a National Basketball Association veteran, saw action with Gilas in the Fiba World Cups in Spain in 2014, and last August in China. But his performance in China was far from overwhelming as the team went home winless

in five games. Blatche is 33 years old and his fitness has become an issue. Panlilio said the search for Blatche’s replacement as a naturalized player is ongoing. “My objective is to have two to three names in a pool of naturalized players to lessen the risk if ever there’s an injury,” Panlilio said. There will be three windows for the Asia Cup Qualifiers and the country is bracketed with Indonesia, Thailand and South Korea

TWO of the brightest coaching minds in the country—Barangay Ginebra San Miguel’s Tim Cone and Meralco’s Norman Black—clash in what could be another Philippine Basketball Association Finals classic.

team toppled San Miguel Beer in a one-game affair in the quarterfinals and gave NorthPort some measure of hope in the semifinals that went 3-1. Justin Brownlee, Ginebra’s resident import, remains the driving force with LA Tenorio, Scottie Thompson, Japeth Aguilar and new acquisition Stanley Pringle providing heavy support. But Coach Tim Cone is his usual cautious self. “We could go to a Game 10 if necessary, if it is a possibility,” Cone said. “For me, I never really want to predict how far we’ll go. But we plan on playing a Game Seven.” “That’s generally the case when you have two really good teams. We’ll throw grenades at each other back and forth,” he added. Ramon Rafael Bonilla

in Group A. Gilas plays Thailand on February 20, Indonesia on February 23, and much later in the year on November 27. Panlilio said Stanley Pringle or Christian Standhardinger could fill Blatche’s void in those games. He also said the SBP wanted collegiate standouts Thirdy Ravena, Allyn Bulanadi, Rey Suerte, JD Tungcab, Matt and Mike Nieto and Isaac Go on the Gilas program but shunned confirming the identity of the head coach. “We are not ready to announce a full-time coach for February,” Panlilio said. Before Blatche, Gilas has as naturalized player Marcus Douthit, also an NBA veteran.

Barty pledges winnings to relief operations

RISBANE, Australia—Ashleigh Barty was flying home across Australia following the Fed Cup final when she saw the early signs of devastation from the wildfires that are still raging in large parts of the vast island continent. So the problem hasn’t just dawned on her, the highest-profile tennis star in Australia, like it may have for some players arriving for the season-opening events. But the scale and gravity of the situation is really hitting home. Barty went to a nearby animal shelter after she returned from the Fed Cup loss to France in Perth last November and donated money, because at that stage animals were the main casualties of the flames. Now, with Australia in the grip of its worst wildfire season in recorded history and with a human death toll of 24, she’s joining the fund-raising for a bigger relief effort. The No. 1-ranked Barty is donating any prize money she wins at the Brisbane

International, her home tournament, to the Australian Red Cross for the recovery effort. The winner of the tournament, which starts Monday, will earn more than $250,000. “It’s been really terrible, it really has. For me this started two or three months ago,” Barty said of the damage caused by what Australians commonly call bush fires. “We have to remember, this has been going on for a long time across our whole country. The first I saw of it was actually flying home...to the east coast and we could see some of the smoke, and some of the fires. “Obviously the worst of it is still out there at the moment. Now it’s not just the wildlife, it’s also affected Australians with their lives and their homes.” Actors, athletes, entertainers and everyday citizens have committed millions of dollars in pledges to the relief effort, and organizers of sports events are setting up fund-raising events. Australian Open organizers will hold a special charity event on January 15, five days before the season’s first major begins in Melbourne.

Nick Kyrgios was among the first tennis players to pledge, promising 200 Australian dollars for every ace he hits this month. He served 20 in Australia’s opening win at the Association of Tennis Professionals (ATP) Cup. Barty, who started her rise to No. 1 with a run to the quarterfinals at the last Australian Open and then won her first major title at the French Open, will also be a familiar face in the fund-raising campaign. While the fires have mobilized athletes and sports administrators, conditions have also caused concerns about health and safety for players, particularly in tennis and cricket which are such a big part of the Australian summer. Seven-time Australian Open champion Novak Djokovic is among those who’ve talked about the possible effects of the wildfires on the seasonopening major, suggesting the start may even have to be delayed if the air quality around Melbourne. Barty said most players would agree the timing of the tennis was less important than safety. AP

Ashleigh Barty is joining the fund-raising for a bigger relief effort for the victims of the Australia wildfire. AP

Djokovic: Wildfires could cause problems for Aussie Open

Djokovic

RISBANE, Australia—Novak Djokovic has voiced concerns about the impact of the devastating wildfires in Australia on tennis’s season-opening major, saying organizers may have to consider delaying the tournament if conditions around Melbourne deteriorate. Djokovic has won a record seven Australian Open men’s championships at Melbourne Park among his 16 Grand Slam singles titles, and will be among the favorites again when the tournament is scheduled to start on January 20.

But with wildfires raging across large parts of the country, already leaving 23 people dead and 1,500 homes destroyed, air quality has become an issue in cities including Sydney, Melbourne and the capital, Canberra. Djokovic opened his season with a 7-6 (5), 7-6 (6) win for Serbia over South Africa’s Kevin Anderson at the Association of Tennis Professionals (ATP) Cup in Brisbane, on Saturday night, and said his own management team had been liaising with Tennis Australia about the

impact of the wildfires, particularly in Sydney— where the ATP Cup group stage is underway and where the playoffs and final will be held next week—and in Melbourne. Djokovic said it was reasonable to consider delaying the start of the tournament because of the extreme conditions “but I think that’s probably the very, very last option for anything. “I think they’re going to try to do anything to not delay anything in terms of days and when it starts,” he told a news conference. “But if it comes

HAVE the University of the Philippines (UP) Fighting Maroons changed their team tactics? Looking at the past four years during Head Coach Bo Perasol’s tenure, at the most, they had three or four players (Diego Dario and the Gomez de Liaño brothers with Will Gozum coming in) coming up from the Junior Fighting Maroons to add to the recruits. For the longest time, UP has stuck to the players who came up from their first year. However, in the last three years, they have gone for transferees. In Season 80, they picked up Jun Manzo from the University of Visayas and Rob Ricafort (who started out with De La Salle then transferred to the University of Santo Tomas [UST] before changing his zip codes to that of UP Diliman). In Season 81, It was Manzo, Bright Akhuetie (University of Perpetual Help System Dalta), and JD Tungcab (Adamson University). This past Season 82, in addition to Manzo, Akhuetie and Tungcab, they added Kobe Paras (California State Northridge), Ricci Rivero and JBoy Gob (De La Salle) and Jaybie Mantilla (University of San Jose-Recoletos). In this off-University Athletic Association of the Philippines season, they have brought in Centro Escolar University’s Malick Diouf, and one player who cannot be named right now from another UAAP college team. Of course, there is nothing wrong with that. Furthermore, some of these players left their previous schools of their own volition or were jettisoned for one reason or another. It is to UP’s advantage and fortune that they were able to scoop up all this talent. Does this represent a shift in putting together a team that will bring home that elusive title back to Diliman? Possibly. They have spent a lot of money in making this team very competitive. I think this also signifies that Perasol has been very good at recruitment. He has shown this also during his three seasons in charge of the Ateneo Blue Eagles. Many schools have resorted to acquiring transferees because you are getting players who are tried and tested. Letran made good use of that this past season when they upset San Beda for the National Collegiate Athletic Association (NCAA) Season 95 title behind Larry Muyang (who transferred from De La Salle) and Bonbon Batiller and Fran Yu (who were left out in the cold at the University of the East by their former coach). They were also able to pry away rookie Paolo Javillonar who gave a good account of himself during the summer leagues with College of Saint Benilde. The time is now for UP to win, while De La Salle is in the process of rearming and while Ateneo has lost vital cogs in their three-peat charge. UST has soaked in a lot of experience, but they will need to find a couple of players to fill in the slots vacated by Renzo Subido and Zach Huang. Far Eastern University also is in a state of flux having lost the remnants of their last title team as they have completed their youth movement. There is nothing that says that one needs a homegrown program to win. Ideally. But it isn’t a prerequisite even for all of Ateneo’s success or to a certain extent, San Beda. National University has beefed up its highschool team and have seen a number of them move up to the seniors ranks. The Mapua Cardinals have gone that route in the last few years since they brought in local hero, Randy Alcantara, first to coach the juniors team, and now the seniors squad. The homegrown route though isn’t a standard. It is the exception. Back to UP, the Fighting Maroons finished Season 82 with a 9-7 record. In Season 81, they were 9-8. In Season 80, they finished 6-8, and in Season 79, during Perasol’s first year at the helm, they ended with a 5-9 slate. Yes, they have definitely gotten better over the years, and having accomplished that, I think Perasol deserves another shot at the opportunity to win his alma mater the big prize. And UP—all schools in fact—being competitive is good for college basketball.

down to...those conditions affecting the health of players, I think we should definitely consider it.” Djokovic said tennis administrators were “obviously tracking the situation every single day as it’s evolving.” ”I think they will, if it continues same way and if the quality of air is affected in Melbourne or Sydney, I think Tennis Australia probably will be forced to create some rules about it,” he said. ”It’s tough for them because scheduling...has to be respected in terms of play and the Australian Open starts at a certain time, so there’s a lot of different things involved. But health concern is a health concern for me, and for anybody.” AP

Sports BusinessMirror

| Monday, January 6, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Carolyn Thompson The Associated Press

race Brown’s schedule at West Potomac High School in northern Virginia is filled with all the usual academics, and she’s packed in Latin, chorus and piano as extras. What she can’t cram into the 8:10 a.m. to 2:55 p.m. school day is gym class. So she’s taking that one minus the gym, and on her own time. The 14-year-old freshman is getting school credit for virtual physical education, a concept that, as strange as it may sound, is being helped along by availability of wearable fitness trackers. For students whose tests and textbooks have migrated to screens, technology as gym equipment may have been only a matter of time. Grace, who lives in Alexandria, wears a school-issued Fitbit on her wrist while getting in at least three 30-minute workouts a week outside of school hours. She has an app on her computer that screenshots her activity so she can turn it in for credit. While online physical education classes have been around for well over a decade, often as part of virtual or online schools, the technology has made possible a new level of accountability, its users say. “We’re asking kids to wear this while they do an activity of their choice, and they can change the activity as they desire, as long as it’s something that they understand is probably going to get their heart rate up,” said Elizabeth Edwards, department head for online physical education at Fairfax County Public Schools, which includes Grace’s high school. Though a physical education instructor isn’t shouting from the sidelines, teachers do guide assignments by setting goals such as fat burn, cardio or peak, relying on the technology to be their eyes and ears. Students also are required to sign in for a weekly 60-minute to 90-minute classroom session with the teacher. Teenagers who play soccer, swim or dance all year may satisfy the workout requirements without doing anything extra. Grace has been adding bike rides and jogs to her days. For her, online PE freed her up to take three elective courses, instead of two in school. For others, it’s a welcome way to take a required class that students otherwise may find socially or physically challenging. “We definitely exercise more in online PE,” Grace said. “There’s a lot of standing around in regular PE. Online, I do much harder workouts.” A survey of more than 3,000 fitness professionals by the American College of Sports Medicine named wearable technology the top trend in fitness for 2020. It’s not clear how many schools are embracing the trend. It comes with some cautions. Technology and the collection of any student data always raises the specter of student privacy concerns. And some worry that students exercising on their own may miss out on important social concepts, such as teamwork. “There is a difference between physical activity and physical education,” said Chris Hersl, former vice president for programs and professional development at SHAPE America, which wrote national standards for K to 12 physical education. “Physical activity is great for the body. We want everybody to move,” he said, “but physical education is a class where students are taught how to move their body and the social context in which to do that.” Joliet Township schools in Illinois uses fitness trackers as part of a blended learning conditioning program that has students who sign up for it to work out two to three times a week in the gym with an instructor and the other days on their own. “It’s a flexible schedule where they still have in-person physical education classes and there’s still instruction happening, but they’re able to use the Fitbit to monitor how students are working outside the classroom,” said Karla Guseman, the district’s associate superintendent for educational services. She said it’s one of

GYM CLASS WITHOUT GYM?

numerous blending learning options that Joliet Township High School offers to give students both more control over the pace and time of their work, and more responsibility to get it done. “We’re trying to give them an opportunity to see what postsecondary might look like,” Guseman said, “when you don’t meet every day but you’re still expected to do work for a course or preparation between class periods.” A virtual school that is part of the Springfield, Missouri, public-school district started with a single class—physical education, said Nichole Lemmon, the creator of the program, called Launch, which uses Garmin fitness trackers. “Eight years ago, it was the very first online class by our developers to meet a really niche student who could not fit PE courses into their schedule,” Lemmon said. “Maybe they wanted to take more honors level courses, or advanced placement, or international baccalaureate classes and PE was hard to fit in, so we allowed them to do it outside of the school day.” A telling illustration of the technology-driven 24/7 school day is the peak log-in time on the school’s portal system: 10:03 p.m. “They may not be working out at 10 p.m., but that’s when they’re turning in their workout. The notion that education now runs 7:30-4, 8-3, is really antiquated,” Lemmon said, “and our students are begging to be able to have more flexibility in the time of day they learn.” During the past summer session, there were 22,600 students enrolled, and the most popular courses were PE, she said. Teachers help students set up their fitness devices, entering the student’s height, weight and age, and coming up with a target heart rate. As an added layer of instruction and accountability, Launch students are required to send video back

to the teacher, who checks their technique as they stretch or lift weights, for example. “They work with their PE instructor to set a fitness goal and then they get their workout however they want to,” Lemmon said. Ït really does promote lifelong fitness because it’s about working out the way they want to, not they’re required to do a particular activity in gym.... We have a lot of kids—a locker room is their worst nightmare. It’s not where they want to be.” Grace’s mother, Rhonda Brown, remembers how hard gym class soccer and softball games were for her because of blindness in one eye. “You’re talking to someone who was always picked last for every sporting activity. I have nightmares sometimes,” she said. She’d like to see the county go even further and grant waivers from PE to kids that play school sports. “We’re so stuck in the traditional classroom setting. These kids are burning 2,000 calories during a practice and more at every game,” she said. “I wish the schools would catch up with the times.”

AVALANCHE SCORE Colorado Avalanche defensemen

Ryan Graves (27) and Erik Johnson (6) celebrate with center Pierre-Edouard Bellemare (41) after Bellemare scores against New Jersey Devils goaltender Mackenzie Blackwood, (29) during the third period of their National Hockey League game on Saturday in Newark, New Jersey. The Avalanche won, 5-2. AP

NO DOHA TRIP

HICAGO—The US men’s national soccer team (USMNT) has canceled its plan to train in Doha, Qatar, from January 5 to 25 “due to the developing situation in the region.” The US Soccer Federation (USSF) announced the decision Friday, a day after a US military air strike killed a top Iranian military commander. Instead, the Americans will open their training camp on Monday at the IMG Academy in Bradenton, Florida, according to the USMNT twitter account. They will use a roster of players mostly from Major League Soccer ahead of an exhibition against Costa Rica on February 1 in Carson, California. The USSF said it hopes to train in the future at Qatar, host of the 2022 World Cup. AP

Ghana cleanses soccer federation, drastically fires all national coaches

CCRA, Ghana—The Ghana soccer association has fired all its national team coaches in a drastic and unexpected move. That includes the coaches for the men’s and women’s senior national teams, and all men’s and women’s youth teams. In all, nine coaches were removed. The Ghana Football Association (GFA) said it “dissolved the technical teams of all national teams with immediate effect” and “extends its appreciation to all coaches and members of the respective national teams for their contributions.” The GFA gave no reason for the decision. The move means Kwesi Appiah has been fired as coach of the men’s senior team for the second time. Appiah appears to have paid for Ghana’s disappointing African Cup of Nations campaign last year in Egypt, when the Black Stars lost to Tunisia on penalties in the last 16. The decision to start again

B UPSET BY TITANS

Tennessee Titans quarterback Ryan Tannehill passes while being grasped by New England Patriots defensive tackle Lawrence Guy in the second half of their National Football League wild-card playoff game on Saturday in Foxborough, Massachusetts. The Titans score an upset, 20-13. AP

The 14-year-old freshman Grace Brown is getting school credit for virtual physical education, a concept that, as strange as it may sound, is being helped along by availability of wearable fitness trackers. AP

with the coaching staffs of all national teams came soon after the GFA announced the appointment of a new general secretary. Appiah was coach of Ghana from 2012-14. He lost his job to former Chelsea Manager Avram Grant but was rehired in 2017. Ghana is a four-time African champion but won its last continental championship in 1982. It has lost three African Cup finals since then, two of them in penalty shootouts. The team was in the spotlight at the 2010 World Cup in South Africa when it became only the third African team to reach the quarterfinals. It only just missed out on the semifinals by losing to Uruguay, again on penalties. But there’s been trouble at the GFA in recent years. It was disbanded by the country’s president in 2018 following allegations of widespread corruption in the game in the West African country. Amid the scandal, the president of the GFA was banned for life by Fifa for accepting bribes. AP

Barca draws at Espanyol, leads with Madrid at midway point

ARCELONA, Spain—A late strike from Espanyol forward Wu Lei stymied a superb performance by Luis Suárez on Saturday to leave 10-man Barcelona tied on points atop the Spanish league with Real Madrid at the halfway stage of the season. The China forward scored an equalizer with two minutes remaining to give last-place Espanyol a 2-2 draw at home with crosstown rival Barcelona after Suárez had put the visitors on course for a win. The hosts were helped when Barcelona midfielder Frenkie de Jong was sent off for a second yellow card with 15 minutes remaining. “The hardest thing to do is to turn a game around when playing on the road,” Suárez said. “We let these points slip away.” The draw tightened the title race after 19 of 38 rounds. Barcelona is ahead of second-place Real Madrid on goal difference following a 3-0 win by

Zinedine Zidane’s side at Getafe. Atlético Madrid moved into third place after Jan Oblak’s great goalkeeping ensured a 2-1 win over Levante. Atlético is ahead of Sevilla, which drew on Friday, on goal difference. Suárez canceled out David López’s first-half goal by scoring in the 50th with a precise touch of the tip of his right boot to steer Jordi Alba’s lobbed pass inside the near post. Suárez’s assist for substitute Arturo Vidal to give Barcelona the lead nine minutes later was just as impressive. Suárez first dribbled around a defender before using the outside of his right boot to flip a pass across the box for Vidal to head home. Barcelona was heading for a comeback win until Wu broke free down the right side of the area to receive a pass from Matías Vargas and drove an angled shot past goalkeeper Neto. AP

God of mystery

EAR God, with joy we celebrate the Holy Family and pray for Your peace as we say: Favor us by Your mercy, oh God. Inspire Your Church in her efforts to strengthen and support those called to the single life. Give parents and guardians every grace they need to nurture their children in love. Prosper the work of charitable organizations so that those most in need may be served. May God, source of all mercy, bless us with every gift of the spirit, that we may grow in love, patience and compassion. 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

New yearnings

ALL yourself indulgent, even if you’ve acquired enough in 2019, when you still wish for some items that will usher your New Year in a bold and fashionable way. ■ LACOSTE. The Lacoste Spring/Summer 2020 collection, designed by creative director Louise Trotter, is a “soulful union of sports, heritage and style.” The famous pique polo is reimagined in squared proportions, color-blockings and magnified details. It’s not only for the tennis player or the tennis fan, but for anyone who loves to wear casual clothes with ease and elegance. ■ UNIQLO X MARIMEKKO. You know an item is covetable when the Japanese and the Finns

collaborate on something. The brand’s Fall/Winter limited-edition collection celebrates Finnish winter traditions by Marimekko, whose mission is to empower people to be happy as they are, and to bring joy to everyday life through bold prints and colors, complemented by the Japanese Uniqlo LifeWear mantra of creating high-quality clothing that is functional and affordable to suit everyone’s daily lifestyles. What’s perfect to wear this stilltemperate season? The A-line Tutuja skirt made of cotton in the Kivet pattern of stones, which resemble polka dots. ■ MCJIM. First, as the meme goes, is the wish for a “slim figure and a fat wallet,” and not the other way around. You—or if you’re feeling generous and will want to gift your bestie or athletic bro—may opt for the wallet from McJim Classic Leather made of imported vegetable-tanned leather. It’s a whimsical, yet practical and functional, gift that’s available in black and brown, with variants including a midsize wallet, billfold, trifold and long, with card slots, bill compartments and photo windows. ■ ANASTASIA BEVERLY HILLS. Rustan’s Makati recently added this name to its already formidable

CONTINUED ON D2

ALL ACCESS: 2019’S OUTSTANDING LEADING WOMEN ON FILMS D2

Monday, January 6, 2020

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Monday, January 6, 2020

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2019â&#x20AC;&#x2122;s outstanding leading women on films

HERE were a lot of movies produced and released in 2019, and quite a number of these had women as main subjects. For this piece, we look back and recognize those who put out the most outstanding big-screen performances that stuck with us long after we got out of the movie houses. These are the lead actresses who gave us

heralded win at the prestigious Asia Pacific Screen Awards in Brisbane, Australia, for her amazing work as a battered wife in Raymund Gutierrezâ&#x20AC;&#x2122;s Verdict is sending signals to local film critics and followers that she is indeed a force to reckon with. â&#x2013; SARAH GERONIMO, â&#x20AC;&#x2DC;UNFORGETTABLEâ&#x20AC;&#x2122;: The film might have scored below expectations at the box office, but the performance of Sarah Geronimo as a highly equipped individual with autism in the Jun Lana movie Unforgettable can never be put aside. She used both simplicity and sensitivity as tools in her portrayal of Jasmine, and successfully turned it into one of her careerâ&#x20AC;&#x2122;s most memorable characters. â&#x2013; JUDY ANN SANTOS, â&#x20AC;&#x2DC;MINDANAOâ&#x20AC;&#x2122;: Her big win in the Cairo International Film Festival, and her victory at the recent Metro Manila Film Festival awards have pushed Judy Ann Santos to be the actress to beat when the awards season commences. In the Brillante Mendoza movie Mindanao, Santos delivered a restrained but riveting-performance as the steelspined Muslim mother of a dying girl. It is so rare to see Santos in a project that allows her to communicate so expressively with little more than just a glance. She would most probably get the nod of the Film Academy of the Philippines, and probably share the Star Awards trophy with another actress. â&#x2013; SHAMAINE BUENCAMINO, â&#x20AC;&#x2DC;SUNSHINE FAMILYâ&#x20AC;&#x2122;: As the mother who glues the family together when her husband becomes so stricken with unimaginable guilt and despair for accidentally running over a girl while driving after a night of drinking in Kim Taisikâ&#x20AC;&#x2122;s comedy Sunshine Family, Shamaine Buencamino proves once more that she is in a league all her own, shifting from intelligent comedy to heartbreaking drama with no effort at all. â&#x2013; BELA PADILLA, â&#x20AC;&#x2DC;MAĂ&#x2018;ANITAâ&#x20AC;&#x2122;: Promising actress Bela Padilla breathed not only precious life to the character of Edilberta Agawin in Paul Sorianoâ&#x20AC;&#x2122;s slow-burn drama MaĂąanita, but also priceless emotions that are so difficult to successfully put together when essaying a solo lead role in a film that runs over two hours. We expect Padilla to land some nominations for this brave performance in a few esteemed award-giving bodies. â&#x2013; JANINE GUTIERREZ, â&#x20AC;&#x2DC;BABAE AT BARILâ&#x20AC;&#x2122;: Many rejoiced when the amiable Janine Gutierrez took home her first best actress award at the QCinema International Film Festival for her role in Rae Redâ&#x20AC;&#x2122;s brave film Babae at Baril. Gutierrez, a third-generation actor, was both convincing and compelling as a sales lady who firmly stood her ground as a woman when her outside world treated her otherwise. â&#x2013; CARMINA VILLARROEL, â&#x20AC;&#x2DC;SUNODâ&#x20AC;&#x2122;: After many, many

memorable roles last year that we couldnâ&#x20AC;&#x2122;t stop talking about. In no particular order, here they are: â&#x2013; ANGIE FERRO, â&#x20AC;&#x2DC;LOLA IGNAâ&#x20AC;&#x2122;: Her best actress win at the Pista ng Pelikulang Pilipino was her firstever in a career than has spanned decades, but we are quite sure there will be one or two more trophies that the 72-year-old underrated and underutilized actress Angie Ferro will be taking home for a job that was definitely more than welldone. Ferroâ&#x20AC;&#x2122;s once-in-a-lifetime role in Eduardo Roy Jr.â&#x20AC;&#x2122;s Lola Igna is one that those who love and understand film will surely remember for a long, long time. This early, we are already predicting that the Manunuri ng Pelikulang Pilipino will give their Urian Best Actress to Ferro. â&#x2013; MAX EIGENMANN, â&#x20AC;&#x2DC;VERDICTâ&#x20AC;&#x2122;: The darling daughter of actors Mark Gil and Bing Pimentel looms as the underdog when the best actress race of the different award-giving bodies begins. Max Eigenmannâ&#x20AC;&#x2122;s much-

CONTINUED ON D3

stable of beauty brands. Founded by the Romanian-born beauty pioneer, entrepreneur and CEO Anastasia Soare, it was launched at its namesake Beverly Hills flagship salon in 1997 â&#x20AC;&#x153;creating prestigeÂ cosmetics for a passionate â&#x20AC;&#x2DC;prosumerâ&#x20AC;&#x2122; audience.â&#x20AC;? One of its signature products is the Brow Wiz, an ultra-slim, retractable pencil ideal for outlining and detailing brows. It has a unique wax formula that adds texture, and creates the appearance of fuller-looking brows with ease and flexibility. The brand is a major

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Kate McKinnon, 36; Julie Chen, 50; Gabrielle Reece, 50; Rowan Atkinson, 65. HAPPY BIRTHDAY: Make plans that will bring you closer to the ones you love. Set a plan in motion to improve your living space, to accommodate plans that will encourage you to broaden your interests or pick up knowledge or skills that will be instrumental in reaching your goals. Turn this year into an opportunity by taking action and making things happen. Your lucky numbers are 2, 13, 18, 22, 25, 34, 43.

ARIES (March 21-April 19): Stick to what you do best. Concentrate on getting ahead, doing a good job and playing fair. How you present your objectives and beliefs, and what you are willing to contribute will make a difference in the way others receive you. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

TAURUS (April 20-May 20): A change you make personally will lead to a bigger and better opportunity. Check out your options, and voice your opinions. Express your feelings, and be passionate about what you are willing to give in return. Offer peace, not chaos. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

GEMINI (May 21-June 20): Dress for the part. Show up ready to do your best, and you will make a good impression. Less criticism and more decisive action will encourage others to help you reach your objective. Personal improvements will lead to personal gains. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

CANCER (June 21-July 22): Progress will require change. Look for opportunities that will enable you to use your creative imagination to make your life and your relationships with others better. If you feel passionate about something, follow through and be the one to make a difference. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

LEO (July 23-Aug. 22): Accept the inevitable, and get on with your day. Put your energy into the projects and people who share your long-term goals. Donâ&#x20AC;&#x2122;t worry about what outsiders do. Choose your path, and donâ&#x20AC;&#x2122;t stop until you reach your destination. â&#x2DC;&#x2026;â&#x2DC;&#x2026;

VIRGO (Aug. 23-Sept. 22): You are overdue for a positive lifestyle change. Look at whatâ&#x20AC;&#x2122;s available, what would make you happy and who you want to involve in your plans. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026; LIBRA (Sept. 23-Oct. 22): Look for alternatives. Spread your wings, and see whatâ&#x20AC;&#x2122;s available. Put greater emphasis on a lifestyle change, updating your image, expanding your skills and associating with people who share your objectives. Romance is on the rise. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

SCORPIO (Oct. 23-Nov. 21): You will get a broader scope of whatâ&#x20AC;&#x2122;s possible if you engage in talks that offer firsthand experience. What you find out will change the way you look at partnerships, and will encourage you to associate more with people who share your interests. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

SAGITTARIUS (Nov. 22-Dec. 21): Donâ&#x20AC;&#x2122;t let aggression take over. Channel your energy into something constructive. Refuse to let someone talk you into something that will benefit him or her more than it will you. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

CAPRICORN (Dec. 22-Jan. 19): Take good care of meaningful relationships. Go out of your way to make someone you love smile. The payback will be worth whatever it takes to spread joy. A residential move or renovation will improve your lifestyle and add to your comfort. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;

New yearnings CONTINUED FROM D1

Todayâ&#x20AC;&#x2122;s Horoscope

sponsor of Rupaulâ&#x20AC;&#x2122;s Drag Race, so this is for anyone who wants to unleash her or his inner fierceness. â&#x2013; LEGENDARY CHILDREN: THE FIRST DECADE OF RUPAULâ&#x20AC;&#x2122;S DRAG RACE AND THE LAST CENTURY OF QUEER LIFE. Written by Tom Fitzgerald and Lorenzo Marquez, this book offers a â&#x20AC;&#x153;snapshot of how LGBTQ folks live, struggle, work and reach out to one anotherâ&#x20AC;&#x201D;and how they always haveâ&#x20AC;&#x201D;and every bit of it is tied directly to Drag Race.â&#x20AC;? The cover features a whoâ&#x20AC;&#x2122;s who of queer icons, such as Sylvester, Gladys Bentley, RuPaul, Marsha P. Johnson, Leigh Bowery, Crystal LaBeija,

Hibiscus, Jackie Shane, Sylvia Rivera, Doris Fish, Tim Curry, Divine, Hector Xtravaganza and Lypsinka. â&#x20AC;&#x153;Every single one of these people has their stories told in our book, as well as an explanation of how we feel they have defined both LGBTQ culture and mainstream culture over the last century. They are legends because of their charisma, their uniqueness, their nerve and their talent,â&#x20AC;? write Tom and Lorenzo. This book will inspire someone still grappling with their identity, or someone who battles with, as RuPaul says, their â&#x20AC;&#x153;inner saboteur.â&#x20AC;? â&#x2013;

AQUARIUS (Jan. 20-Feb. 18): Put your head down, stay focused and donâ&#x20AC;&#x2122;t stop until you are satisfied with the results you are getting. Question your feelings, your relationships and what you can do to make your life more gratifying. â&#x2DC;&#x2026;â&#x2DC;&#x2026;

PISCES (Feb. 19-March 20): Do what needs doing without making a fuss or a big deal out of your contribution. Youâ&#x20AC;&#x2122;ll have the biggest and the best impact on others if you stay focused, and do your best to make a genuine difference. â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026;â&#x2DC;&#x2026; BIRTHDAY BABY: You are sensitive, caring and entertaining. You are productive and persistent.

â&#x20AC;&#x2DC;watersideâ&#x20AC;&#x2122; BY EVAN KALISH The Universal Crossword/Edited by David Steinberg

ACROSS 1 Barrister Clooney 5 Symptom of a bug bite 9 Spun records at a 15-Across 13 Long-eared leaper 14 Spanish art museum 15 Nightclub bash 16 Infamous headline about the 1948 election 19 Prez No. 16 20 Charged particles 21 Jewish casserole 22 State capital north of Colorado Springs 24 Collection 25 4039, for 2019 and 2020 27 Classic movie quote spoken mindlessly? 31 â&#x20AC;&#x153;Says ___?â&#x20AC;? 33 Opera solos 34 Self-referential 35 Water polo site 36 Joe Biden was one of its sens. 37 Significant others, in slang 38 Funny Bombeck

39 41 42 45 46 47 51 53 55 56

Misleading thing Job connections â&#x20AC;&#x153;That didnâ&#x20AC;&#x2122;t go as plannedâ&#x20AC;? â&#x20AC;&#x153;Me dayâ&#x20AC;? destination Beast of burden Chops finely An intruder might trip one Bosc or Anjou London quaff Opts for a more private life, or a feature of 16-, 27- and 42-Across? 59 ___ Reader 60 1990s commerce pact 61 I, in sorority names 62 Becomes a brunette, say 63 Plot points? 64 Narrow valley DOWN 1 On pace to win 2 â&#x20AC;&#x153;Iâ&#x20AC;&#x2122;ll decide laterâ&#x20AC;? 3 Elizabeth of cosmetics 4 Filmmaker Spike 5 Persian Gulf country 6 Skin designs, for short 7 Musical stack

8 9 10 11 12 14 17 18 23 24 26 28 29 30 31 32 35 39 40 43 44 48 49

Computer shortcuts that are pressed Pharmacy buy Rebel Without a Cause icon Assigns a grade to, say Lionâ&#x20AC;&#x2122;s abode lllinois city that symbolizes Middle America Medieval estate The â&#x20AC;&#x153;Râ&#x20AC;? of RBG Theyâ&#x20AC;&#x2122;re higher than cellos Zigzag down a slope Degrees for corp. leaders What waiters and privates take Certain flower girl Common sleep prescription Oxymoronic social occasion 1990 film about a thwarted burglary Pair in an idiomatic pod Anti-apartheid activist Tutu Big name in motorcycles Major conflicts Urgent, as circumstances You may sing one in the snow showers Like top colleges

50 52 53 54 56 57 58

Coupe alternative Mimics Sound of a 56-Down Jazzâ&#x20AC;&#x2122;s James Firecracker that fizzles Org. overseeing airspace Comedianâ&#x20AC;&#x2122;s booking

Solution to Fridayâ&#x20AC;&#x2122;s puzzle:

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Show BusinessMirror

Monday, January 6, 2020

2019’s outstanding leading women on films Continued from D2 years of not being on the big screen, Villarroel makes a comeback as the lead character of the wonderfully crafted and beautifully acted horror movie Sunod, directed by Carlo Ledesma. Credible and competent as the mom forced to accept a call-center job for the sake of her sick daughter, Villarroel surprised us with her consistent on-

point performance as the plot progresses to more unpredictable and scary surprises. n Kathryn Bernardo, ‘Hello, Love, Goodbye’: The biggest box-office hit in local filmdom last year also boasts of the strong, sensible and sensitive portrayal of Kathryn Bernardo as a young domestic helper working overseas who falls in love when her family life is in a mess. She will definitely score nominations (or, maybe, even a big win) from

organizations where popularity is often on equal footing with merit of performance. n Ruby Ruiz, ‘Iska’: Despite the many excesses, overwrought subplots and unnecessary givens in the Ted Boborol Cinemalaya movie Iska, lead actress Ruby Ruiz managed to steer her character into the right direction with the acting that she delivered, combining both head and heart to come up with a laudable performance.

n Nadine Lustre, ‘Ulan’: It takes a good actor to turn a very light role into a memorable one with a focused performance. Such is the case of Nadine Lustre in the Irene Villamor movie Ulan, whose character’s daily struggles and small victories seem to be ruled by the pouring rain. Lustre should be more careful in choosing her projects since she is a really good actress. Cheers to these wonderful women on films. n

Monday, January 6, 2020

Style

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Favorite skin-care and makeup products for 2019: Conclusion

HE year 2019 marked many changes in my makeup and beauty routines. For one, I decreased the number of skin-care steps I did every day, leaving out toner and essence. I would sometimes apply a lotion (Hada Labo) when my skin was too dry, but usually it’s just double cleansing and one other product before sleeping and cleansing, sunscreen and serum in the morning. Diligent skin care through the years has given me enough courage to go out without foundation. I’m still not makeup-free, mind you, but my skin looks better. I can now get away with powder, eyebrow product and lipstick. ■ ESTEE LAUDER ADVANCED NIGHT REPAIR INTENSE RESET CONCENTRATE. I’m a big fan of the brand’s Advanced Night Repair line, and this concentrate is a new and worthy addition to it. It’s not supposed to be used everyday. It’s an extra step two or three times a week on top of the ANR serum. Well, guess what? I used it on its own most of the time and, sometimes, more than thrice in a week. It really makes your skin less dry in the morning and if you sleep in air-conditioned room, this is a big help. I asked the nice people at Estee Lauder whether this was okay for those with acne-prone or sensitive skin, and they said yes. I love that the formula is so lightweight you can use it during the day. ■ HADA LABO PREMIUM. This was sent to me by a friend who is based in Japan and I tell you, it’s life changing. You can never tell that this was a drugstore product. It performs well, and hydrates my skin. During warmer weather, this is all I use at night. This is not available in the Philippines, but the brand is. There is another version of this in a white packaging, and it was what I was using before I got this. I liked it, too. I just prefer this over the white one. The texture of this is that of a light lotion so it’s perfect for our weather. ■ MAKE UP FOR EVER REBOOT FOUNDATION. I used very few liquid foundations in 2019, and Reboot was probably my most frequently used one. When I said that Make Up For Ever killed it in 2019, I meant it. The foundation, which contains ginseng, camellia japonica (or tsubaki) and mondo grass, claims to, among others, brighten, smooth, soothe, firm and even out the skin. The coverage is light to medium. I apply it with a MUFE Buffing Foundation Brush N112. Like all

MUFE face bases, it comes in a wide variety of shades. I honestly didn’t like Reboot the first time that I used it, but ended up loving it. During the few times I used foundation in 2019, this is what I reached for. ■ MAC STUDIO FIX COMPLETE COVERAGE CUSHION COMPACT. This is another liquid base that I often reached for. I did not expect to be a fan because I normally go for full coverage but, again, my skin can now go with medium coverage largely because I was diligent with skin care all these years. This cushion compact, an extension of MAC’s Studio Fix line, has medium coverage, but covers what needs to be covered and stays put in our humid weather. MAC claims that the velvet matte finish (not flat at all) lasts for 24 hours. Of course, no one will wear foundation for that long, but this one was pretty long-lasting. I like applying it with the MUFE Buffing Brush instead of the sponge it came with. This is perfect for traveling because it is, well, compact. ■ IT COSMETICS SUPERHERO MASCARA. I am very picky when it comes to mascaras. Even those from high-end brands have failed to work on my super straight lashes. They always either clump or smear on my under eyes. But this one from IT Cosmetics is pretty good. Superhero Mascara has “Elastic Stretch Technology that stretches the look of your lashes wider and longer, and wraps each individual lash in a volumeboosting, lengthening, ultra-conditioning black cape of power and color for your strongest, thickest, mostdefined results.” I don’t know if this was all true, but I love it and will probably repurchase soon. ■ SHISEIDO SERUM ULTIMUNE POWER INFUSING CONCENTRATE AND ULTIMUNE POWER INFUSING EYE CONCENTRATE. Shiseido really upped its game this year with its color cosmetics, and remained strong in skin care, which it has always been very good at. Ultimune is not a new line, but Shiseido reformulated it. “Our No. 1 Serum just got stronger with ImuGeneration Technology. Powered with antioxidant rich reishi mushroom and iris root extracts to strengthen skin, restore firmness and defend against daily damage for skin that’s 28 percent stronger in just one week. Skin looks even smoother, firmer, more hydrated and resilient,” said the brand in its web site. I love the new formula, which is dewy but not sticky. The Ultimune Power Infusing Eye Concentrate was also the only eye cream I used in 2019. ■ LUSH SOAK AND FLOAT SHAMPOO BAR. I have been plagued by sensitive scalp all year round in 2019. I am just paying for my past sins of frequent bleaching. I normally use Scalpex, which is effective but drying. So I went to Lush to look for a gentler alternative. Soak and Float has cade oil that’s derived from juniper, which is used to treat psoriasis, dandruff and eczema. The bar also contains rose and marigold petals to calm and soothe. This works just as well as Scalpex, and while I won’t say it is moisturizing, Soak and Float is not drying. ■

Secosana launches Alex Gonzaga bag collection FROM international to even local brands, the current wave of collaborations between fashion or beauty brands and celebrities is nothing new. However, throughout the years, this practice has lost its luster due to brands creating their own designs and, simply, using the names of their ambassadors and endorsers, then declaring these as “collaborations.” In this day and age where the “woke” market seeks for transparency and authenticity, efforts, such as these, may prove detrimental to both the brand and the celebrity. This was the guiding principle behind the recent collaboration between popular fashion

brand Secosana Bags (www.secosana.com.ph) and social-media superstar Alex Gonzaga, who has gained popularity due to her image of being raw, real and relatable. “We wanted the brand to be relatable and appealing to more than just the millennial market. We wanted the brand and the collection to be true to who Alex is, designs that she appreciates and will use,” said Bea Secosana, the brand’s head of sales and marketing. “When we started envisioning the bag collection, we told Alex that she would definitely have a hand in the designs, colors, fabrication and overall look.” And that was what happened. “This collection is who I am and what kind of handbag I truly love to carry—small enough to be handled with ease, fitting my most important personal items, very functional yet exuding a freshness and sense of style that one can match with whatever they are wearing,” said Alex Gonzaga. She also concluded, “This collection is truly an expression of my passion for fashion.”

BusinessMirror

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Monday, January 6, 2020

Why likable leaders seem more effective By Charn McAllister, Sherry Moss & Mark J. Martinko

recent trend in leadership research is to define a new “style” of leadership (e.g., authentic, ethical), and then demonstrate how following its principles can improve performance. As such, there has been an unending proliferation of leadership styles that have been espoused by researchers and practitioners. that “likership” is not the opposite of leadership. Instead, being liked is probably one of several key ingredients in the effectiveleadership formula. Well-liked leaders can expect subordinates to consider t hem aut hent ic, transformational, ethical and not abusive. Likewise, teams who like their leaders will be happier at work, go above and beyond what is required of them, experience greater well-being and perform at a higher level. While being liked is undeniably important, it is not the only answer to effective leadership. Nonetheless, for leaders to simply ignore whether their subordinates like them will undoubtedly prove detrimental to their success. Charn McAllister is an assistant professor at Northeastern University. Sherry Moss is a professor at Wake Forest University. Mark J. Martinko is an emeritus faculty member at Florida State University.

What makes great salespeople By Ryan Fuller

hat behaviors drive successful salespeople? Last year, research by my people analytics company, VoloMetrix, identified three things that were highly correlated with top performing reps: more time spent with customers; larger internal networks; and more time spent with managers and senior leadership. These three behaviors persisted regardless of region, territory or sales role, suggesting that they’re foundational ingredients for success. These insights may seem intuitive—and in many ways, they are—but, according to the data, the details matter. Here’s how our findings play out:

Customer engagement doesn’t just mean spending time with more customers

Depth trumps breadth when it comes to accounts— top sellers focused on building deeper relationships with fewer customers, rather than casting a wider net of shallower engagement.

A bigger internal network is generally better, with some nuances in sales support

When we measure relationships, it involves both a fre-

Yet, despite evidence supporting each form of leadership as predictive of leader and follower performance, we began to recognize a problem: If subordinates rated one item on a leadership survey positively, they tended to rate the other items the same. This is problematic because each of these leadership styles is considered conceptually distinct. The fact that subordinates tend to rate a single leader similarly across each different style supports the idea that there is a common underlying factor in their ratings. We began to suspect that being liked was the driving force behind leadership ratings. We developed a five-item questionnaire that measured the extent to which an employee liked his or her leader. The results suggested that subordinates tend to rate leaders based on their personal liking of that leader, rather than the leader’s actual behaviors. But our research also suggests

quency and an intimacy component. To establish a large network, you have to interact with many people, on separate threads, frequently. This takes a lot of time. The top performers we study typically spend anywhere from 10 to 15 hours per week interacting with small groups inside their companies, and spend relatively more time with other members of senior leadership.

Sales is hard work (but you probably knew that already)

Consistently, we’ve found that top performers simply put in more time. But the answer isn’t saying that everyone should just work harder; even low performers work an average of 50 hours per week. The implication, instead, is that every hour is precious. Rigorously proven causality is not a prerequisite for learning from these insights. Access to objective, up-todate data on what behaviors work and don’t work within a specific sales organization is a powerful compliment to existing management tools, and allows leaders to set their teams up for success. Ryan Fuller leads the workplace analytics and MyAnalytics product teams within Microsoft.

The case for the public option over Medicare for All By Regina Herzlinger & Richard Boxer

ow can the United States better control its healthcare costs and quality, and still achieve universal coverage? The strongest choice is not Medicare for All, which would eliminate private insurance; it’s the public option, which would allow people to choose from Medicare or private insurers. W h at t he US ne e d s , a nd Americans want, are lower premiums and out-of-pocket costs for hea lt h care, a suf f icient number of competitive private insurers to honor the promise “if you like your plan or doctor,

you can keep it” and, as surveys reveal, no exclusion for preexisting conditions,no lifetime limits on benefits and coverage for children up to age 26 on parents’ insurance. The Medicare component of the public option is wildly popular. Beneficiaries pay only a fraction of the cost, passing the rest onto future generations. Yet, Medicare’s enormous scale confers genuine administrative and purchasing efficiencies. The public option can take advantage of these efficiencies, but only if it is implemented without the financing gimmicks that have artificially lowered the costs of Medicare at the expense of our

progeny and that would allow it to unfairly compete with private insurers. To assure that all insurers play on a level playing field, public-financing principles must conform to those of private insurers. For one, the public option’s expenses must be financed by current users, not future generations. The public option’s accounting also should include all its expenses, such as the unfunded liability for Medicare employees’ postretirement benefits, which are often buried in some fund other than Medicare’s. It must also account for the cost of the money that American taxpayers and debt-holders have invested in

building Medicare’s infrastructure, including its buildings, equipment and workers. Private insurers will be forced to compete with the public option’s lower costs through improved pricing, service and quality. Americans generally like both private insurance and Medicare, but universally deplore their costs. Medicare for All eliminates private insurers and increases taxpayers’ burden. The public option keeps private insurers and controls health-care costs. Regina Herzlinger is a professor at Harvard Business School. Richard Boxer is a clinical professor at UCLA’s David Geffen School of Medicine.

What the biggest business deals of 2019 tell us By Benjamin Gomes-Casseres

usiness deals are both a lagging and a leading indicator of economic transformations. Some reflect past conditions; others signal emerging trends. A review of the past year’s most remarkable deals (and non-deals) can tell us where we have been and where we are going.

‘Business as usual’ deals

Among the already established trends, Big Pharma this year continued to bulk up and smarten up. In 2019, Bristol-Myers Squibb acquired Celgene ($74 billion), Takeda acquired Shire ($62 billion), and Sanofi and Novartis both acquired companies in the $10-billion range. Media and telecom companies also followed the well-established

script to build market power. Three big mergers were finalized this year—Sprint and T-Mobile ($26 billion), AT&T and Time Warner ($85 billion), and Disney and 21st Century Fox ($71 billion). Disney’s acquisitions in the past few years are fueling its aggressive offerings in streaming video. The streaming war between Disney, Netflix, Hulu, Amazon, Apple and HBO had been brewing for a while, and is now being joined in full. Industrial producers, too, played out a story that started a decade ago—the breakup of conglomerates. Dow broke itself up into three this year, as promised when it merged with DuPont two years ago. Danaher slimmed down only to bulk up again by buying General Electric Co.’s biopharma unit ($21 billion). And GE, even after this

sale, appears to be doubling down on its health business. In the aerospace and defense industry, United Technologies, which had broken itself into three, turned around and joined Raytheon in a merger of equals worth some $135 billion.

Emerging trends in tech

There was renewed effort this year to contain the growth of tech. The idea that firms like Google, Facebook and Amazon were getting too big and intrusive in our lives continued to gain ground in Washington. Google faced antitrust investigations in 50 states, and the FTC head suggested it could pursue others. In mid-December, the FTC was reported to be considering an injunction against Facebook to stop it from integrating Instagram, WhatsApp

and Messenger—just in case the antitrust authorities decide later to break up the company. A related trend that gained ground in 2019 was the re-bordering of tech—the rise of a virtual wall between the Chinese and American spheres of influence in technology.

Responses to climate change

In terms of carbon emissions, the gap between where we are and where we should be is huge. Worldwide, project financing and public R&D in renewable energy have actually been falling in recent years. In 2019, we saw our planetary predicament more clearly than ever before. The business deals of the next decade will signal how we will respond. Benjamin Gomes-Casseres is a professor at Brandeis University.

Education BusinessMirror

E2 Monday, January 6, 2020

Zambo solon eyes building of more high schools in 2020

AMBOANGA CITY—Second District Rep. Manuel Jose Dalipe II last week said the building of more national high schools will be his priority this year. Da lipe told the Philippine News Agency that he is targeting to establish national high schools in 10 barangays (villages) in his district, which covers 61, eight of which are island villages, of this city’s 98 barangays. Dalipe said the schools would be opened in the Barangays of Mampang, Guiwan, Tugbungan, Lunzuran, Pasobolong, Pasilmanta, Manalipa, Lamisahan, Dulian-Upper Bungiao and Sitio Sinoropan, Barangay Licomo. Dalipe said the establishment of national high schools would

bring education closer to the grassroots. He said the project would be of great help for both students and their parents since they will no longer commute in going to school. He said the money they can save from fare expenses could be used for other needs in school and of the family. “With these [schools], we can help young Zamboangueños. This will give them a bright future,” he said. Dalipe said he already filed the necessary bills at the House of

Zamboanga City Second District Rep. Manuel Jose Dalipe II (center, right) joins the Department of Education officials in the inauguration of an elementary school in Barangay Divisoria on December 12, 2019. Dalipe said the creation of more national high schools will be his priority in 2020. Second District Congressional Office

Representatives in December in preparation for the creation of the national high schools. The City Schools Division of the Department of Education

said there are around 219,683 students in the secondary level for School Year 2019-2020. There are 41 public high schools in this city. R. G. Antonet Go/PNA

Editor: Lyn Resurreccion

Aboitiz turns over scholarship grants, bakery kits to Tesda By Roderick L. Abad @rodrik_28 Contributor

HE Aboitiz Foundation and Aboitiz food business unit, Pilmico, will give livelihood opportunities to graduates of Technical Education and Skills Development Authority’s (Tesda) bread and pastry production class, that will benefit 50 poor, but deserving, trainees. The graduates of the class will have a chance to begin their own businesses with the bakery starter kits from the Aboitiz Group. They just need to present their business proposals for evaluation by a panel from Tesda Women’s Center, Pilmico, Aboitiz Foundation, and the Department of Trade and Industry. The program will provide four bakery starter kits to the graduates with the most feasible business plans. During the turnover ceremony in Taguig City, Tesda National Capital Region Director Florencio Sunico thanked the group for its support to Tesda Women’s Center through the Aboitiz Technical

Vocational Scholarship Program. “On behalf of the Tesda Women’s Center, I thank the Aboitiz Group for continuously partnering with us in giving the gift of knowledge and livelihood opportunities to the scholars. We hope we can explore other partnership projects to assist more Tesda trainees,” he said. Also present during the event were Aboitiz Foundation First Vice President and COO Maribeth Marasigan and Pilmico Vice President for Corporate Strategy and Business Development Apol Castro. “We in Aboitiz believe in advancing business and communities by empowering individuals to earn, and create, a living based on their own skills and abilities. We are proud to turn over these scholarship grants to the deserving students and graduates of Tesda,” Marasigan said. Since its inception in 2005, Aboitiz Foundation’s Technical Vocational Scholarship Program has supported 3,384 scholars, 2,040 of who were employed within six months from graduation in its Cebu and Metro Manila sites.

Gatchalian proposes math, science high schools in provinces

ollowing the results of a global survey which revealed low math and science proficiency scores among Filipino high-school students, Sen. Win Gatchalian has called anew for the establishment of a public math and science high schools in every province. According to the lawmaker, the results of the global Programme for International Student Assessment (PISA) 2018, which assessed 15-year-old students’ proficiency in mathematics, science and reading comprehension, underscored the necessity of building schools in the provinces with a curriculum that focuses on mathematics and the sciences.

The triennial study revealed that among 79 countries, Filipino students scored second lowest in science and mathematics. Filipino high-school students scored an average of 353 and 357 in mathematics and science, respectively. The focus of the next Pisa assessment, which will be in 2021, will be on mathematical literacy. Gatchalian, the chairman of the Senate Committee on Basic Education, Arts and Culture, said that the capacity of the Filipino students in science and mathematics does not only mirrors the status of our education system. “It also shows the lack in readiness of our youth to be part of

industry when they graduate, especially since the change brought by technology is very fast,” he said in Filipino. Earlier this year, Gatchalian filed Senate Bill 369, or the Equitable Access to Math and Science Education Act. The proposed measure mandates all provinces to have at least one public math and science high school within their capital cities. The schools shall implement a six-year integrated junior-senior high-school curriculum that focuses on advanced science, mathematics and technology subjects under the guidance of both the Departments of Education, and of Science and Technology.

Graduates from these schools will be required to enroll in a course of study in pure and appl ied sc iences, mat hemat ics, engineering, technology or any other field deemed appropriate by the Commission on Higher Education. Gatchalian added that the schools would boost student performance in the provinces, noting that in all three areas covered by Pisa, students from the rural communities scored lower than those in the urban areas. “The establishment of a math and science high school in every province will also foster greater equity in our education system,” Gatchalian said.

Fake frogs in school dissections eliminate gross-out factor

Students dissect a synthetic frog from Syndaver Labs at JW Mitchell High School in New Port Richey, Florida. The school is the first in the world to try out the new technology. AP/Chris O'Meara

EW PORT RICHEY, Florida—It’s a rite of passage in schools across the United States: frog dissection. Sometimes it happens in middle school, sometimes in high school. Feelings about the lesson are generally summed up in one word: gross. The frogs are slimy and greenish-grey, and they stink because they're pickled in formaldehyde. One Florida high school recently tried to eliminate the gross-out factor by using fake, yet highly realistic, frogs. The school and the company that makes the synthetic frogs—not to mention animal-rights groups like Peta—hope this will change how dissections are handled in classrooms across the country. “The experience is all about understanding the relationship between organs, what they look like, what they feel like,” said

Chris Sakezles, the founder and CEO of Syndaver Labs, a Tampa company that also makes synthetic human cadavers and other life-like human and animal body parts. “We do that without the ethical concerns about having to kill an animal. Without exposing them to biohazards.” JW Mitchell High School in New Port Richey was, according to Peta and school officials, the first in the world to try out the new technology. The school sits about a half hour north of Tampa, where Syndaver’s labs are located, and the partnership started not with a frog, but a bunny. School Principal Jessica Schultz had brought her pet rabbit to a veterinarian who happened to also work with Syndaver. They got to talking about frog dissection, and the company’s work with synthetic animals for veterinary students.

Eventually, Schultz brought some of her students to Syndaver, and they created lesson plans around the synthetic frogs. In late November, her students dissected the first of the fake frogs. They cut the skin and extracted the anatomically correct organs. “Kids went to town, to be quite honest,” said Schultz. “We had kids that literally deboned the fake frogs.” Said Miah Ulibarri, a 17-yearold junior: “I was actually scared to cut it because I kept thinking about cutting into a real frog.” Ulibarri started the year knowing she’d have to dissect something for her forensic science class, and she wasn’t looking forward to it. Students could opt out, Schultz said, and many often did during the dissection day. “Just let the animal be,” Ulibarri said. “Why kill them on purpose to dissect them?” Another student, 17-year-old senior Nail Koney-Laryea, said the frogs had a startlingly realistic look and feel to them. They were still slimy, and a squeeze of the leg yields a fragile bone inside. W hen k id s c ut i nside t he breastbone and stomach, they were able to see individual organs. Unlike real frogs, the delicate organ tissue didn’t dissolve and explode. “If you blindfolded me before I touched it, I wouldn’t be able to tell the difference,” said KoneyLaryea, who noted that several students had opted out of dis-

secting fetal pigs, frogs and rats in previous classes due to moral disagreements with cutting open an animal that was once alive. Schultz said no students opted out of the dissection unit with the fake frog. “We have to find ways to engage students with more interactive lessons and more relevant material,” she said. The barrier to widespread use of fake frogs could be the cost: Each frog is about $150, and Peta helped fund part of this project. But Syndaver’s Sakezles said they’re trying to whittle that price down through automated production and recycling of materials. If the kids don’t debone the frogs, the skeleton and body can be stuffed with new organs, sewn up and reused. Real frogs cost about $10 each. “It’s a wonderful substitution for a student who would opt out of a real dissection,” said Beth Allan, a University of Central Oklahoma biology professor and president-elect of the National Science Teachers Association. She has concerns about the cost, saying only wealthier schools could afford to buy $150 frogs, and hopes the price tag will eventually come down. “A synthetic frog is one more step, and a positive step, to provide good high-quality materials for students.” Sakezles says his company is developing fetal pigs, rats and other animals for classroom dissection. “The plan is to completely replace the use of real animals,” he said. AP

The turnover of the scholarship and livelihood package from Aboitiz Group to Tesda is graced by Aboitiz Foundation First Vice President and COO Maribeth Marasigan (from left), Tesda National Capital Region Director Florencio F. Sunico Jr., and Pilmico Vice President for Strategy and Business Development Apol B. Castro.

Promil Four launches Talent Development Center at KidZania Manila

romil Four launched its Talent Development Center at KidZania Manila to help moms discover and nurture their children’s gifts. Promil Four’s Talent Development Center is designed to help moms determine what “jobs” fit their kids’ interests and talents as they take the “Spot the Gift” test alongside their kids at the establishment. The test requires the mothers to answer personality-based questions designed to discover their child’s unique gifts that would unleash their full potential. The Spot the Gift test will allow parents to know if their children have the gift and inclination for music, bodily kinesthetics, spatial relations, naturalist, interpersonal, intrapersonal, linguistic and logical-mathematical abilities. With over 90 role-playing activities at KidZania Manila, children can explore its mini-

metropolis and try the recommended jobs for themselves based on their test results. They can visit Promil Four’s partner establishments, including National Book Store’s Bookstore and Art Studio, Star Magic’s Acting Academy and Star Music’s Music Studio. “Promil Four’s Talent Development Center is our way to help parents discover their child’s interests. With the guidance of their parents, the goal is to make every child nurture their gifts and keep them motivated through activities that will help them bring out the best in them,” said Jocelyn Lacida, Wyeth Nutrition marketing director for premium. “We acknowledge the need to help them discover and nurture these gifts to transform them into excellent individuals in the future. We trust that our partnership with KidZania Manila will help us fulfill this advocacy,” Lacida added.

Marketing BusinessMirror

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Monday, January 6, 2020 E3

Welcoming a new decade with

new goals, new perspectives T

By Millie F. Dizon

www.freepik.com

PR Matters

HIS past week, we welcomed, not just a new year, but with the onset of 2020, a new decade. We ask ourselves now, where did all that time go? It only seemed like yesterday when we lived in fear about Y2K—if anyone remembers. That, of course, did not happen, and technology thrives, with many of us sadly dependent on it 20 years after. If you made your usual to-do list of goals and resolutions for the New Year, maybe it’s time to take pause and go beyond the usual practice. It’s time to look back, deeply reflect, and think 2020 and beyond. In an Inc.com article, “11 Questions to Help You Set Meaningful Goals for the Next Decade,” Scott Mautz suggests that we set powerful goals for 2020 and beyond by asking ourselves this set of potent questions.

“What are the tempting spaces to avoid?” 1parking

Life is dotted with many tempting parking spaces, which are “safe places to pull into and put it into park. For years,” says Mautz. We can avoid parking too long by asking ourselves, “what are the patterns you keep getting caught in? What are the traps that could derail you from what you really want to accomplish? Whether it’s staying in a bad relationship too long or sticking around in an industry that bores you, but pays well, “get out of neutral, put it in drive, and set your goals accordingly,” adds Mautz.

“How can I live a life true to myself and my values, and not the life others expect of me?”

Bronnie Ware, a palliative nurse turned author says that this is the top regret of the dying. Of course, we don’t want to live a life of regret by living someone else’s story. And there’s no better time to start living your life than today.

“How can I work on my life, not just in it?” “Routine

gobbles our time, energy, and mind space, and are, well, just routine,” says Mautz. Instead of getting caught up in a mundane cycle of little things that leave no room for creativity and change, he instead suggests that we recommit ourselves “to the concept of challenge, embracing

Food: The Joys of Discovery—How the Love for Great Sushi Landed Senryo Its First Branch in the Philippines MANILA, PHILIPPINES—How good does your food have to be to compel someone to buy a franchise and bring it over to his home country? While most businessmen would actively seek out possible ventures or opportunities, for Yumantree Inc. CEO Eric Teng, the reason why he and his group decided to bring premium Japanese sushi restaurant Sen-Ryo to the Philippines was solely based on how much they personally loved the food. Sen-Ryo is a sushiya that originated from Tokyo, but the

one that Teng fell in love with was the branch he stumbled upon while in Hong Kong. He enjoyed the food so much that he repeatedly brought family and friends to the restaurant, turning it into a regular pit stop whenever they were in the city. “Friends, family, they tend to like Sen-Ryo, as well, it’s not like I’m going to drag them there to eat something that only I like. It seems like everybody seems to like it. So, I usually say ‘Hey we have some time, want to go to Sen-Ryo?‘ ‘Okay, let’s go to SenRyo.’ And when we’re there, it always seems to be full. It’s like one of those reliable places that I know is true Japanese execution of the sushi,” Teng shares. This isn’t Teng’s first time to bring over a well-known international brand to the Philippines. In fact, under their company’s belt are the likes of of Mango Tree, Genki Sushi, Cocina Peruvia and Kureji. As his circle of friends

once again the thrill that comes from learning and growing, and moving toward the best version of yourself.”

“What’s the difference a good and 4greatbetween next year or decade?”

Remember the best-selling book Good to Great: Why Some Companies Make the Leap...and Others Don’t by Jim Collins? Published in 2001, it has rocked—and served as an inspiration for—the corporate world as it describes how companies make the transition from good companies to great companies and how most companies fail to make the transition. Mautz says we can work at making a good year/decade into a great year/decade by resetting the bar “on what you have to accomplish and happiness you create.” His advice? “Ask yourself what a good year or decade looks like, and what a great one looks like. Set goals that move you toward the latter. And ask yourself, ‘If I knew I couldn’t fail, what would I try?’” Greatness, he says, often lies in the answer.

“What are my superpowers how will I use them?” 5and We all have our God-given

and family continued to crave for the premium rolls of nigiri and delicate cuts of sushi and sashimi, Teng realized he could bring the sushiya to the Philippines, too, and share the experience to even more people, with the side benefit of not having to go to Hong Kong himself anymore whenever he wants to eat at Sen-Ryo. And after months of preparations, the restaurant’s first branch in the Philippines finally opened at The Podium in Mandaluyong City. Sen-Ryo strives to offer authentic Japanese cuisine, combining the freshest ingredients, traditional techniques, and modern technology to deliver the culinary mastery and sushimaking artistry that the brand has become known for in Asia. Its new branch in the city is its fourth in the roster, after Shanghai, Hong Kong and its flagship store in Tokyo. The store’s interiors

talents, things we’re extra good at. Mautz says that we should “consider setting a goal that forces you to use these superpowers to accomplish something that matters.”

6“What deeds need doing?”

Your cause or purpose in life is at the root of this. Think about “what things simply must be done at work [or in life] that would gnaw at you, your cause, and your values if they weren’t accomplished?” Then, Mautz says, “a meaningful goal will arise.”

7“What can only I lead?”

Along with talents, we were given a unique set of skills. At the same time, our circumstances place us in a unique position to accomplish something of importance. We live in a world where conformity is a comfort zone that shields us from bullying, unkind words and unfair judgments. Sadly, at a time where we are encouraged to celebrate our uniqueness, this still happens a lot. It is, however, our unique skills and talents that will guide us to create things and ideas that the conformists will never be able to fathom. The New Year is the time to take a good look at our gifts, and base

showcase simple materials, such as wood and metal used in unique and unusual ways— creating a luxe lounge where one can relax and enjoy great sushi. Inspired by nature, the owners chose wood shaped like waves to represent the flow of water. Every detail—from the plates and cutlery, to the décor and lights were especially chosen to transform the space into one of elegance and simplicity. With two private horigotatsu rooms (a traditional Japanese table that has a recessed floor beneath it) and one private room at the mezzanine level, guests are sure to enjoy an intimate dining experience. Sen-Ryo accommodates up to 120 guests. Sushi-making is without a doubt an art form, and although the other branches abroad serve through conveyor belts as part of the modern day sushiya experience, the art and science in creating great sushi

our goals on these.

“What part of me hasn’t up in life, yet?” 8shown

“If there’s something about you you’ve been wanting to explore or put on display, goal-setting time is the time to put the wheels in motion,” says Mautz. So, whether its visiting places on your bucket list, getting a new look, or learning something new, now is the best time.

“What have been my moments?” 9happiest

Mautz says that “goal-setting should be about fulfillment, not just fulfilling obligations.” With that, he urges us to reflect on what have been the happiest moments in our lives, and think about what kind of activities created that happiness.”

10 “Who will I have served?”

We agree with Mautz that “true joy comes from knowing you have made a difference in other people’s life.” In our times, it’s easy to get too self-centered in everything, including setting goals. Time is currency, and “when you look back one or 10 years later, who will you have served with your time and energy?” Make serving others a part of your goals.

hasn’t been lost. In opening Sen-Ryo in the Philippines, Teng shares how meticulous the group was in making sure everything was brought over, including not just the freshly sourced ingredients but the technique and craftsmanship, as well. In fact, several of the Japanese chefs have flown in to the country where they will stay for at least two months to train their local counterparts, gradually giving them the reins once they are confident enough that the restaurant can proudly represent the brand. This is to make sure that each bite will be as good as the ones served in their other branches. Sen-Ryo’s menu is filled with premium selects of sushi and sashimi. You can never go wrong with classics like maguro (tuna) or shake (salmon), but if you want something a bit different, they serve seared salmon sashimi with a touch of cheese. They also serve salmon

“Will I have done what people say I was meant 11 to do?”

Remember the parable of the talents—those that used theirs wisely and those that were foolish in their decisions? Again, this goes back to “leveraging your unique talents. What would others say you were meant to do? Will the goals you set help you use these skills to accomplish something that matters?” As we look forward to a new year, a new decade, Mautz encourages us to ask these questions when setting our goals. Then set our goals with soul. Happy New Year! PR Matters is a roundtable column by members of the local chapter of the United Kingdom- based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie F. Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

roe with a hint of gold leaf as extra eye candy, but a favorite would have to be the golden dragon roll—a California roll topped with unagi and tempura flakes that not only creates a myriad of textures, but a balanced mix of flavors, too. There’s also one thing on the menu that you can’t find in their other branches, which is their selection of tempura. When asked about his personal favorite item in the Philippine menu, Teng beamed and stated, “It seems that the chefs have curated the menu, so that we only have the best of certain items. Not everything. We don’t want everything, we just want a few of the best things there. So everything I tried, I really enjoyed because it’s something quite different. It’s like a new experience. Sushi’s been around, of course. But when you see them add their touches to make it their kind of sushi, it’s [truly] a different experience.”

Perspective A FORCE AWAKENED BusinessMirror

E4 Monday, January 6, 2020

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Why so many find meaning in ‘Star Wars’

DAISY RIDLEY as Rey in a scene from Star Wars: The Rise of Skywalker. DISNEY/LUCASFILM LTD.

By Patti McCarthy | University of the Pacific

THE CONVERSATION

FTER witnessing the overwhelming popularity of Star Wars, director Francis Ford Coppola told George Lucas he should start his own religion. Lucas laughed him off, but Coppola may have been onto something. Indeed, the Star Wars saga taps into the very storytelling devices that have structured myths and religious tales for centuries. And with every new film, fans are able to reinforce their unique communities in a world that has grown, in many ways, increasingly isolated.

A universal hero

LUCAS freely admits he based his Star Wars epic on the “hero’s quest” that mythologist Joseph Campbell, in his 1949 book Hero with a Thousand Faces, argued underscores many myths and religious tales. According to Campbell, hero quests have similar trajectories: the hero leaves his ordinary world and ventures to a place of supernatural wonders. He faces a series of trials to prove his mettle, survives a supreme ordeal, is granted some sort of boon or treasure and returns home to share his knowledge or treasure with those he left behind. Following this formula, Lucas substituted his own characters for the heroes, villains, and saviors of earlier hero quests. Take Star Wars: Episode IV—A New Hope: the hero (Luke Skywalker) leaves his ordinary world (Tatooine) after receiving “a call to adventure” (Princess Leia’s hologram message) and learns he has the special talents of a Jedi. A supportive mentor (Obi Wan Kenobi) offers supernatural aid (light saber) and guidance. Then Luke faces a series of trials to prove his mettle (storm troopers, Jabba the Hutt), survives a supreme ordeal (Death Star, Darth Vader) and returns home wiser and victorious. According to Lucas: “I became fascinated with how culture is transmitted through fairy tales and myth. Fairy tales are

about how people learn about good and evil…it’s the most intimate struggle that we cope with—trying to do the right thing and what’s expected of us by society, by our peers, and in our hearts.” These stories typically appear during times of doubt and can help viewers reclaim the goodness and innocence in themselves, reminding them they can overcome the evil they see in the world. When Lucas set out to create Star Wars— against the backdrop of Vietnam, Watergate and the assassinations of the Kennedy brothers and Martin Luther King Jr.—he had his work cut out for him. Lucas acknowledges he wrote Star Wars because he believed our society was in dire need of fairy tales, myth and fantasy—a “new myth” would provide a “New Hope” for an audience that had grown cynical and demoralized. Today’s anxieties are just as acute. Exhausted by the wars in the Middle East, faced with global terrorism and beset with economic woes, the American people yearn for a mythic narrative that will reaffirm their view of the world, with a traditional American hero who will triumph over evil and ensure “everything will turn out okay.”

Looking into the mirror

LUCAS is sometimes accused of promoting escapism. But he’s actually tapping into some key facets of the human condition. After all, it’s in the telling of mythic or religious stories that we attempt to answer fundamental questions like “Who am I?” and, ultimately, “What does it all mean?” It’s no wonder, then, that in an increasingly secularized society, many find themselves gazing away from the pulpit, instead finding meaning in the stories playing out on screens in living rooms and movie theaters across the country.

A STAR Wars fan holds a light saber before the premiere of the movie Star Wars: The Rise of Skywalker in Caracas, Venezuela, December. 19, 2019. AP/MATIAS DELACROIX

Film is sometimes described as a “dream screen”—a mirror, when held in front of an audience, reflects both the personal and collective subconscious of our culture. It’s a place where all our hopes, fears and desires find expression. Considering Star Wars’ mythic foundation, it’s not surprising that it packs such a powerful, emotional punch, stirring the hearts of passionate fans yearning to see the next chapter of the Star Wars universe. Myths are about creating meaning, reinforcing connections between the I and Thou, and mending the rift between the sacred and profane. They give us heroes we can identify with, who allow us to eventually realize that divinity is not outside the self, but within. In the beginning, Luke might be the character you wanted to pretend to be. With time “playing Luke” helps you become the person you always wanted to be.

Transcending the screen

IF all roads of the hero’s journey lead inward, then film, as a shared cultural artifact, begs us to take the first step. Unlike a simple, standalone artifact (such as a piece of pottery), film is a shared experience. For

the audience, the story, its characters and unique props (like the lightsaber) become stored in an emotional and psychological cache. Filed into memory, they become part of the viewer’s personal history and identity. Rather than Star Wars existing as something outside of viewers, it takes root within. Many were exposed to the Star Wars films as children. Some acted out scenes at home and at school, investing time and creative energy into a fictional universe and characters who became like an extended family. For them, their “best birthday ever” became indistinguishable from the experience of playing with friends, the cutting of the cake—and their new Star Wars action figures. In this way, Star Wars no longer remains just a film; it becomes much more. Even subtle challenges to a narrative we’ve created about the world and ourselves can be stressful. In response, we’re prone to cling even more tightly to our beliefs. For this reason, minor changes in the Star Wars narrative can unnerve fans. Denying that Han Solo shot first is like finding out you’re adopted; it’s akin to changing your fundamental understanding of the truth.

Forging connections to the past

STAR Wars has further transcended the screen in the form of T-shirts, action figures, theme parks, and in cosplay and fan fiction. As powerful as any holy relic (which, among believers, can provide affirmation and emotional support), buying and collecting Star Wars merchandise can trigger memories of the past. Accessing positive memories and tapping into nostalgia have been shown to be a critical component of forming a meaningful personal narrative, and the simple act of picking up a toy light saber can return fans to childhood, to a time when they felt happy and secure. Even if someone didn’t have the rosiest childhood, he or she can still escape to the Star Wars universe, creating an alternate reality where cherished friends, caring mentors and happily-everafters await. Situated in an advertising and media landscape that often overpromises and underdelivers (“Buy this and you will be happy”), the world of Star Wars helps fans create meaning when they might otherwise be unfulfilled.

Cosplaying for community

WATCHING a Star Wars film or

buying Star Wars memorabilia doesn’t only remind us of the “good old days.” It serves a more meaningful purpose: it builds community in a world that has grown increasingly isolated, that has traded the physical for the virtual. If the decline of social capital in public life (which includes religion) is partially responsible for this phenomenon, the rise of technology is equally at fault. Even when surrounded by people, our attention is diverted— we are distracted, disembodied, absent—existing everywhere but in the present. The connections made through social media are often frayed, and can even lead to heightened feelings of isolation or loneliness. On the other hand, Star Wars, via play—whether it’s cosplay or swinging a light saber with a friend—demands social interaction, communication and engagement. (Some theorists have even argued that play served as the seed from which all human culture, including religion, evolved.) Waiting in line for days to buy tickets, wearing your favorite Star Wars T-shirt to school and dressing up as your favorite character at a convention are all social touchstones—icebreakers that facilitate a sense of community and belonging. It is in this shared storytelling space where history lives and meaning dwells. As cultural critic Lewis Hyde writes, meaningful stories can induce a “moment of grace, a communion, a period during which we too know the hidden coherence of our being and feel the fullness of our lives.” Once upon a time, we gathered around fires to tell stories. Today we assemble in movie theaters to watch with wonder and awe the flicker of our stories on the screen. Star Wars is, of course, different from religion in a number of ways. But it still allows us to transcend the everyday and enter a sacred realm—a place where we can glimpse the Holy Land of our better selves and become the heroes we want to be. This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation.com/a-force-awakened-whyso-many-find-meaning-in-starwars-51853.