BusinessMirror January 23, 2020 by BusinessMirror

GOVT LISTS OPTIONS IN CHEVRON DEAL By Elijah Felice E. Rosales @alyasjah

HE government will shut down Batangas Land Co. Inc.—a National Development Co. (NDC) subsidiary—by 2021 after the Department of Finance (DOF) uncovered its allegedly onerous land deal with Chevron Philippines Inc. (formerly Caltex Philippines), the Department of Finance said on Wednesday. At the same time, the government is eyeing to buy out the shares of Chevron Philippines in the 120-hectare state property in Batangas in a move to consolidate ownership of the land, Trade

Thursday, January 23, 2020 Vol. 15 No. 105

PHL raises 1.2-B euros in 1st offer in ’20–DOF

By Bernadette D. Nicolas

@BNicolasBM

HE Philippine government was able to raise at least 1.2 billion euros as it successfully returned to the euro debt market. It is also the country’s first international bond issuance for the year with its total public offering for three- and nine-year euro-denominated global bonds. The Department of Finance

(DOF) and Bureau of the Treasury (BTr) said the offering is a landmark transaction for the country, having priced its first-ever zerocoupon euro bond issuance in the international capital markets,

particularly for the three-year 600-million euro bond. It is also its lowest coupon rate for the eurodenominated bond issuance. The nine-year 600-million euro bond had a coupon rate of 0.7 percent.

The bonds are also expected to be rated Baa2 by Moody’s, “BBB+” by Standard & Poor’s, and “BBB” by Fitch, according to BTr and DOF. The notes are expected to settle on February 3, 2020. In a text message forwarded to reporters on Wednesday, National Treasurer Rosalia de Leon said orders came from a diverse group of investors in the onshore and offshore market with frequent and Continued on A8

See “Chevron,” A2

Curing trade deficits requires holistic economic rebalancing Rene E. Ofreneo

laborem exercens

n December last year, BOI Executive Director Ma. Corazon Dichosa called the attention of the nation on an “alarming” development—Philippine trade deficit has been growing. In 20142018, the deficit averaged 76.54 percent and reached $47 billion in 2018 alone. In simple language, the country is a net importer of goods. The good director warned that such a pattern of development is simply unsustainable. It is. No country can be a net importer all the time. And yet, economists keep repeating, the Philippines’s annual growth has been fueled largely by consumption. How is this possible? We keep consuming without producing the goods needed by the country? The puzzle is solved by the 10 million plus national heroes and heroines—the overseas Filipino workers (OFWs), who have been remitting over $35 billion a year, in pure cash. These remittances have been supplemented by the country’s earnings from the call center-BPO sector and from the annual borrowings arranged by the finance officials. Continued on A7

Lower Q3 growth rate signals missed ‘19 goal’

By Jovee Marie N. dela Cruz

between NDC and Chevron,” Lopez said in a statement. “Government would like to consolidate its ownership of the land and buy out the shares of Chevron. The NDC and DOF technical teams [have] been working on this. In fact, the latest board meeting of the BLCI already approved its dissolution,” he added. In a statement, the DOF said the NDC Board decided in December last year to terminate in 2021 the corporate life of BLCI, the lessor of the 120-hectare Batangas property as it heeded the recommendation of Finance Secretary Carlos G. Dominguez III.

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“We are also reaping the benefits of actively engaging investors prior to going out in the market.”—De Leon

House resos push ₧30-B addl budget, Taal funds

By Cai U. Ordinario

@joveemarie

HE House of Representatives on Wednesday adopted two resolutions committing to pass the proposed P30billion supplemental budget and called for an immediate release of funds for areas affected by the Taal Volcano eruption. In a special session held in Batangas Convention Center, House members—through House Resolution 662—vowed to work with all concerned agencies to expedite assistance to victims of the ongoing Taal activity. On January 12, 2020, the volcano erupted and spewed an ash column 1-kilometer high. The Philippine Institute of Volcanology and Seismology (Phivolcs) declared Alert Level 4 for Taal, which warns the public of an imminent hazardous eruption. At least 459,300 people within the 14-kilometer danger zone were affected by the volcanic activity. Of these, 148,514 people were displaced and are sheltered in 497 evacuation centers. The disaster has also caused economic losses of P7.63 billion by initial estimates of the National

Secretary Ramon M. Lopez said in a separate statement. The NDC Board has decided to dissolve the Batangas Land Corp. Inc. (BLCI), the joint venture between the NDC and Chevron. As such, the government plans to acquire the shares of Chevron over the land the BLCI is operating as part of state moves to consolidate its property. “The NDC Board, which DTI [Department of Trade and Industry] and has DOF [Department of Finance] as one of the members, has already directed the National Development Corp. to work on the dissolution and non-extension of the life of Batangas Land Corp. Inc., the joint venture

G The 18th House of Representatives holds its session at the Batangas City Convention Center on Wednesday, as lawmakers led by Speaker Alan Peter Cayetano vowed to speed up approval of a supplemental budget for Taalaffected communities. NONOY LACZA

See “Taal funds,” A2

PESO exchange rates n

Neda: Unsolicited proposals may now tap into PDMF

NSOLICITED proposals can now tap into the Project Development and Monitoring Facility (PDMF) for project preparation and “Swiss challenge” needs, according to the National Economic and Development Authority (Neda). Socioeconomic Planning Secretary Ernesto M. Pernia told the BusinessMirror on Wednesday this was one of the decisions made in the meeting of the Public-Private Partnership (PPP) Governing Board.

As Neda secretary, Pernia chairs the PPP Governing Board and the PDMF Committee. The PPP Center is also an attached agency of the planning agency. “[The] PDMF will cover not just solicited but unsolicited [projects]. This is included in the guidelines, we just clarified it,” Pernia said. In an e-mail, PPP Center Deputy Executive Director Eleazar E. Ricote said the decision was reached in recognition of the need of implementing agencies for technical guidance in undertaking

unsolicited projects. Technical guidance, Ricote said, is also needed in going through the “Swiss” challenge process. A Swiss challenge is a process by which other private groups could still come forward to make an offer to match the bid of a proponent. He said technical guidance for project preparation means securing the help of consultants and experts. Ricote said the Swiss challenge process includes invitation to bid. See “Neda,” A2

@caiordinario

DP expansion in 2019 likely fell short of the government’s target after the growth rate for the third quarter was revised downward, the National Economic and Development Authority (Neda) said. The Philippine Statistics Authority (PSA) on Wednesday released the final GDP figure for the third quarter of 2019 and adjusted it downward to 6 percent, from the initial estimate of 6.2 percent. Socioeconomic Planning Secretary Ernesto M. Pernia told the BusinessMirror on Wednesday it is likely that the government’s full-year GDP growth target of 6 percent to 6.5 percent for 2019 was not attained. “[The targets] will not be feasible [anymore],” Pernia said. “It’s because of the budget delay.” The PSA said the downward revision was largely due to cuts in estimates for Other Services, Construction, and Transport, Storage and Communication. Data showed that the expansion of Other Services was downgraded to 4.2 percent from the initial estimate of 5.1 percent; Construction,

15.4 percent from 16.3 percent; and Transport, Storage and Communication, 8.2 percent from 9.1 percent. However, there were upward revisions in net primary income (NPI) from the rest of the world to 3.9 percent, from 2.9 percent. PSA also upgraded the growth rate of the gross national income (GNI) to 5.7 percent, from 5.6 percent. The PSA will release data related to the 2019 performance of the country’s economy on Thursday. On the upside, Pernia said the economy would expand faster this year and base effect will help. “There’s going to be a base effect which will lead to higher growth in subsequent [quarters],” Pernia said. The Asean+3 Macroeconomic Research Office (Amro) projected that the country’s GDP growth will still average 6 percent in 2019 and 6.4 percent in 2020. Amro chief economist Hoe Ee Khor expressed confidence that 2020 will be a better year for the Asean+3 nations due to the progress in trade talks between the United States and China and the signing of the Phase One deal. See “Q3 growth,” A2

US 51.0390 n japan 0.4646 n UK 66.6263 n HK 6.5686 n CHINA 7.3916 n singapore 37.8095 n australia 34.9311 n EU 56.5818 n SAUDI ARABIA 13.6053 Source: BSP (22 January 2020)

News

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A2 Thursday, January 23, 2020

DOTr lets motorbike taxis keep running, lifts rider cap

By Jovee Marie N. dela Cruz @joveemarie & Lorenz S. Marasigan @lorenzmarasigan

HE technical working group (TWG) of the Department of Transportation (DOTr) on Wednesday agreed to allow the operation of and increase the cap on the number of motorcycle taxis operating in Metro Manila and other highly urbanized areas.

Following a hearing and an executive session of the House Committee on Transportation, Samar Rep. Edgar Mary Sarmiento, the panel chairman, said the TWG also agreed to include Cagayan de Oro City and Cebu City in the list of pilot areas. “The controversy involving the motorcycle-hailing app Angkas has been resolved after the DoTr and the LTFRB agreed to accommodate his request to forego any plan to terminate the operation of the motorcycle taxi service providers,” he said. The decision came just two days after the TWG decided to completely stop the pilot program for motorcycle taxi operations, drawing flak from senators who were then conducting a hearing when the announcement was made, and the commuting public. It also announced that it will continue the study to help lawmakers craft a law that will legalize the service, which has received huge support from the riding public. Land Transportation Franchising and Regulatory Board (LTFRB) Member Antonio Gardiola, who also heads the TWG, said his group has agreed to continue the study until

Farm output. . . Continued from A8

Total palay output fell to a threeyear low of 18.814 million metric tons (MT), PSA data showed. The livestock subsector, which accounted for 16.2 percent of total output, declined by 1 percent due to lower production of carabao, cattle, hogs, and goats in 2019, PSA data showed. In the fourth quarter, data from the PSA indicated that hog output fell by 10 percent to 597,500 MT, from 662,700 MT recorded in the same period of 2018. The poultry subsector expanded by 5.8 percent last year, matching its performance in 2018, while fisheries output posted a turnaround as it rose by 1.9 percent, according to the PSA.

Bouncing back Agriculture Secretary William D. Dar attributed the slower than expected farm output growth last year to the ASF that “badly affected” hog output and the damage caused by “powerful” typhoons, such as Tisoy (international name Kammuri) and Ursula (international name Phanfone) last month. “Despite these challenges, agriculture [output] grew by 0.4 percent [in the fourth quarter of 2019], reflecting our strong resilience and resolve to rise above any adversity,” Dar said in a statement on Wednesday. Nonetheless, Dar said he remains hopeful that the farm sector would perform “much better” this year on

Neda. . .

Continued from A1

This process also requires technical guidance for reviewing and processing comparative proposal/s following the Build Operate Transfer (BOT) Law and its Imple-menting Rules and Regulations (IRR). However, Pernia stressed, PDMF rules still apply for unsolicited proposals. This means

March 23, and may even extend it should the need arise. “We have considered the sentiments of the riding public and the recommendations of the stakeholders including our lawmakers, so we decided to continue the study and adding Cagayan de Oro in the scope, and increasing the total cap on drivers,” Gardiola said on Wednesday. Apart from allowing their operation during the pilot period that ends on March 23, Sarmiento said the DOTr also agreed to increase the number of riders from 30,000 to 45,000 for the three providers; Angkas, JoyRide and Move It. The TWG also expanded its pilot test to Cebu and Cagayan de Oro and allocated a cap of 18,000 riders for both provinces. Sarmiento said the pilot period can even be extended until after a law regulating the operation of the motorcycle taxis has been passed. Heeding a clamor for quick, cheap and safe ways to navigate horrendous road traffic, lawmakers in both chambers have committed to fast-track such law, amending the decades-old national transporthe back of “good planning and proper implementation of new and existing programs.” He said, “We will continue to build on the strong foundation in partnership with the local government units, private sector, farmers’ and fishers’ groups, and academe to catapult the entire agriculture sector this year and beyond.” The outcomes of the Rice Competitiveness Enhancement Fund (RCEF), which only started in November 2019, “will be reflected this first semester of 2020,” he added.

Impact of weather Noting the 3-percent production growth in the third quarter, economist Pablito M. Villegas said the latest performance of the agriculture sector shows that it is still hostage to weather. “It [farm sector performance] is still weather-based. We had a 3-percent growth in the third quarter, thanks to good weather. And in the fourth quarter, when the weather was bad, it was slower than expected. Basically, up to now, agriculture growth is dictated by weather and calamities,” Villegas told the BusinessMirror in an interview. He also said government interventions, such as the RCEF, may not be able to offset the negative effects of rice trade liberalization law and lack of irrigation to marginal rice planters. “We would feel the effect of the rice trade liberalization law in the first quarter. We expect corresponding reduction in the planting intentions in the marginal areas,” he said.

whatever PDMF funds are used by an unsolicited proposal will still have to be reimbursed. The PDMF is a revolving fund used to procure consultants and technical advisers, as well as pre-feasibility studies for PPP projects. After a PPP project is awarded, the winning bidder must reimburse the cost to the PDMF only if the project awarded to them received funds from the fund. In a presentation at the meeting, the PPP Center disclosed that as of December 2019,

“This is democracy at work. Everybody stepped in, Courts were involved, the secretary, the Executive branch, General Gardiola, and the other players in the private sector. So now, everybody’s working hand in hand.” —Royeca

tation and traffic code in order to include motorbike taxis among legal public transportation.

Angkas dropping cases

With the agreement, Sarmiento said that Angkas has agreed to drop all cases that it filed against the LTFRB. Although his panel support the extension of the operation of the motorcycle taxis, Sarmiento said it would continue with its pursuit for an efficient mass transport system through his proposed centralized and synchronized bus dispatch system. “Rest assured that we are working closely with the Department of Transportation on the efficiency of the mass transportation system,” Sarmiento said. For his part, Angkas Chief Transport Advocate George Royeca said the agreement to continue the test run that Angkas and the two other players struck with the DOTr, the LTFRB, and the TWG is an important win for the Philippines, particularly for the commuters and the bikers of all three motorcycle taxi companies. “We are very grateful to Secretary [Arthur] Tugade and Rep. Sarmiento for mediating for the impasse settlement. I am happy that everyone is now involved in the test run and will be working

Taal funds. . . Continued from A1

Economic and Development Authority (Neda) and total agricultural damage of P3.06 billion, according to a report by the Department of Agriculture (DA) in Calabarzon. The House leadership vowed to fast-track the approval of a P30billion supplemental budget as proposed by President Duterte. Lawmakers from Batangas filed House Bill 5998 allocating P30 billion as supplemental appropriations for 2020, to fund support to affected families and communities. Speaker Alan Peter Cayetano said the House will await the Department of Budget and Management (DBM) proposal on the supplemental budget.

together toward the same goal,” he said. “I am thankful to everyone who have been with us in this continued journey—the government agencies and their respective heads, the senators and the congressmen who understood the situation and helped us arrive at a consensus, the civil society representatives who passionately stood their ground, the bikers who were behind us all the way, and the commuters and passengers who prayed with us for a peaceful resolution to all this,” Royeca added. According to Royeca, their focus right now is to continue working with the government to make the pilot a success. “This is democracy at work. Everybody stepped in, Courts were involved, the secretary, the Executive branch, General Gardiola, and the other players in the private sector. So now, everybody’s working hand in hand. I think this is a testament to the success of the democratic process. We’re very happy with the result,” Royeca said.

House TWGs

Sarmiento said the committee created two TWG to tackle various proposals related to the operation of motorcycle taxi and the transport networks vehicle services (TNVS). His committee will try to fasttrack deliberations of at least 15 pending House bills that are related to the operation of motorcycle taxis. These bills aim to amend Section 3 and 7 of RA 4136 to include motorcycle-for-hire in the definition of terms and in the classification of vehicles that would be required for registration with the LTFRB. for development and social programs and services of various national government such as the Departments of Social Welfare and Development, Health, Agriculture, Tourism, Labor and Employment, and Trade and Industry, among others. The House also invited the National Disaster Risk Reduction and Management Council (NDRRMC) to a committee briefing to assess the situation and determine the needs of the affected localities and the total budget requirements to address the calamity.

DDR

The House also adopted House Resolution 655 seeking the immediate release of funds for the aid relief, resettlement, rehabilitation, livelihood, development and social programs and services to communities adversely affected by the Taal Volcano eruption. The resolution said these funds appropriated under the FY 2020 General Appropriations Act include the Calamity Fund or the National Disaster Risk Reduction and Management Fund. It also includes the appropriations

Following the approval of the funding provision of House Bill 5989 or the bill creating the Department of Disaster Resilience (DDR) on Wednesday, Batangas Rep. Mario Vittorio Mariño immediately sponsored the measure in plenary. House Committee on Appropriations Chairman Isidro Ungab said the eruption of Taal Volcano requires the chamber to act on this measure now. The consolidated bill creates the DDR, the agency that will provide emergency response to natural disasters such earthquakes, typhoons, floods and volcanic eruptions. Speaker Cayetano said the occurrence of these unpredictable natural disasters makes it more urgent for Congress to pass the measure creating the DDR.

the government has a database for 145 PPP projects. This includes 65 projects identified between 2010 and the present as well as 80 projects included in the list between 1990 and 2009. In September 2010, former President Benigno S. Aquino III issued Executive Order No. 8 renaming the BOT Center to the PPP Center and transferring it from the Department of Trade and Industry to Neda. The list includes 27 transportation;

two education; one health project; 11 information technology; 40 power; 24 property development; one tourism; 36 water and sanitation; and three solid waste projects. The transportation projects include 12 road projects; six airports; and three projects each in ports, rails, and terminals. Majority or around 70 of these projects are located in Luzon; 23 in Metro Manila; 22 in Visayas; 20 in Mindanao; and 10 in multiple regions.

Immediate release

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De la Rosa confirms visa cancellation by US, not rushing to seek new one

EN. Ronald de la Rosa confirmed Wednesday that the United States Embassy has canceled his US visa but said he would apply for a new one if President Duterte goes to the US, which earlier took a hardline stance against the Duterte administration’s bloody antidrug war. The administration senator, who was National Police chief tasked with implementing the war on drugs before his election in May 2019, said, however, he had no immediate plans to go to America. “Wala pa! [None yet],” he told Senate reporters on Wednesday, saying he learned about the cancellation after he sent an official letter to the US Embassy inquiring if his visa was indeed canceled. “I received an official reply on my birthday informing me that my visa was no longer valid.” De la Rosa said he was advised that “should I want to apply, it would be subject to US laws,” adding that “no reason” was stated for the cancellation. But he did not discount the possibility it could be related to the continued detention of opposition Sen. Leila de Lima, a vocal critic of the Duterte administration, on whose behalf two US senators had sought the application of a US law

Chevron. . .

Continued from A1

DOF said it uncovered that Chevron has been paying a “miniscule” rental fee to the government for the industrial park in San Pascual, Batangas that it uses as an oil import terminal. Chevron took issue with the description of the contract as onerous, and said in a statement all the terms of the lease agreement were thoroughly vetted and that Chevron had complied with all government requirements. Story in Companies, page B1. According to Lopez, the joint venture corporation was a result of the expiration of the Laurel-Langley Agreement in 1974, disallowing foreigners to wholly own land in the Philippines. “The existing lease term is one that started almost 50 years ago, and ending 2025, which needs a renegotiation or bidding under the new setup,” the trade chief argued. Shortening BLCI’s corporate life will finally allow the government to exercise“full ownership, control, and rights over” this prime lot and other real-estate properties occupied by Chevron, which are strategically located for the country’s future energy projects, Dominguez said. Asked why the government will take one more year before closing down BLCI, Dominguez explained in a message to reporters: “NDC owns 60 percent of BLCI. To shorten corporate life now, we need 67 percent of the shares but need only 51 percent of the vote not to extend the corporate life beyond 50 years.” The government, he said, should have exercised these rights as early as 1975 but Chevron was able to obtain preferential

Q3 growth. . . Continued from A1

Khor said the easing of trade tensions will be a boon for exports in Southeast Asia. The economy of Asean+3 nations will also be boosted by strong domestic demand due to investments in infrastructure projects and their trade and investment diversification efforts. “Nonetheless, risks that can derail the region’s tentative recovery remain. They include a re-escalation in global trade tensions, a sharper-than-expected slowdown in the G3 economies [Japan, Eurozone, and the US], and an intensification of geopolitical risks, with implications for oil prices,” he said. “Moreover, regional policymakers need to be mindful that prolonged low interest rates could lead to a buildup of financial vulnerabilities over time,” he added. In terms of inflation, Amro revised its 2020 projection to 3 percent, higher than the initial estimate of 2.9 percent. However, this is still within the Philippine government’s target of 2 to 4 percent this year. Khor said in light of Amro’s forecasts, regional policymakers still have room to adopt

allowing the Secretary of State to deny entry to persons deemed to have had a role in the unjust persecution of certain citizens. Asked if he would seek reconsideration, de la Rosa indicated he was still mulling over his options, but added, “If President Duterte goes to the US, I will apply.” The senator admitted he was “disappointed” on learning about the US visa cancellation even as he “had been expecting that.” “Sama ng loob? Tao lang tayo! [Do I feel bad? Yes, I’m just human],” the former PNP chief said while recalling that “I have been helping the FBI, the CIA.... We have been working together.” De la Rosa addmitted he was planning earlier to go to the US with Sen. Emmanuel Pacquiao, whose boxing bouts are mostly held in the US, but changed his mind on learning about the visa cancellation. De la Rosa surmised that some US Senators may have been given “wrong information” against the Duterte administration, adding that “my whole 34 years of police service had old ties with the US.” After writing the US Embassy and verifying his US visa cancellation, De la Rosa indicated he is now planning to “go to China and Russia.” Butch Fernandez treatment to continue occupying and using these properties under the then-Marcos administration. “These properties (including the Batangas property) should have been turned over to the Government as early as the 1970s, not only legally speaking but, more importantly, based on the principle that these properties should truly benefit the Filipino people,” he said. “These companies were given sufficient time to transition and pass on full ownership to the government. It is now high time for the government to exercise its rights,” he added. The“miniscule”rental fee of 74 centavos per sq. m. a month, which amounts to only P10.66 million per year for the 120-hectare industrial park, is the rate that Chevron has been paying to the government since 2010. This amount is only 4 percent of the P17.90 per sq. m. a month or P257.76 million a year that current fair market rental rates in the area would suggest, based on comparative data from NDC appraisal reports and other official sources, the DOF had said. The property’s current market value is estimated at about P4.9 billion to P5.3 billion— translating into a rental yield of only about 0.2 percent of the property’s value. The DOF also found out that the rentals paid by Chevron over the 44-year period covering 1975 to 2019 amounted only P146.51 million or about P3 million per year, in addition to real property taxes paid by Chevron under the lease agreement. Dominguez earlier said that “based on current standards the State imposes on similar contracts, to have a rental yield of less than 1 percent is surely grossly disadvantageous to the government and the Filipino people.” With Bernadette D. Nicolas more accommodative monetary and fiscal policies. This should be calibrated with efforts to maintain tight macroprudential policies to safeguard growth and financial stability. The Asean+3 is expected to grow by 4.9 percent in 2020, amid resilient domestic demand and improving manufacturing activity indicators. This is an upward revision from Amro’s growth outlook of 4.7 percent in December 2019. In terms of inflation, Amro said the Asean+3 will see a slower increase in commodity prices of 2.3 percent, compared to the 2.4 percent it estimated in December 2019. “We expect the Asean+3 region to remain resilient in 2020, despite downside risks. And should any of the potential risks materialize, the region’s economies have sufficient reserves and exchange rate flexibility to withstand these challenges,” Khor said. Among the Asean+3 economies, Myanmar and Cambodia are expected to post the highest growth of 7.1 percent and 7 percent in 2020, respectively. The economies that will post the slowest GDP growth this year are Hong Kong and Japan (0.5 percent), followed by Singapore (1.7 percent). The Asean+3 is composed of the 10 Asean member nations plus China, Japan, and Korea.

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BARMM, Ople Policy Center ink pact to fight human trafficking By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CITY—The Bangsamoro regional government recently formed an anti-human trafficking unit in a move seen to stymie the unabated illegal recruitment of victims from this region. The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) signed an agreement on Tuesday with the Blas F. Ople Policy Center to protect migrant workers coming from its areas. The memorandum of agreement (MOA) was signed at the Bangsamoro Government Center in Cotabato City and obliged the two parties to create the Bangsamoro Task Force Against Human Trafficking of overseas Filipino workers (OFWs). Atty. Gen. Sha Elijah DumamaAlba said the task force would establish the mechanism of detecting and identifying early signs of human trafficking “by setting up credible and reliable data management, and case monitoring system on OFWs and human trafficking incidence.” The task force would also “identify, determine, and discuss the root causes of illegal migration to determine its approach on how to effectively combat trafficking networks.” It would “receive, document, track report, and gather evidences on human trafficking involving Bangsamoro OFWs case buildup.” BARMM Executive Secretary Abdulraof Macacua said the agreement

“is a commitment of the regional government to guarantee the fundamental rights of the Bangsamoro against human trafficking, and other forms of abuse and human-rights violations.” “We owe a lot to the Bangsamoro OFWs who actively campaigned for the passage of the Bangsamoro Organic Law, and publicly supported and encouraged their family to vote ‘yes’ to the ratification of the said law exactly a year ago today [January 21, 2020],” he added. “In an ideal world,” Macacua said, “all our Bangsamoro brothers and sisters working abroad will go back to their roots and would no longer have to leave apart from their families— so, they won’t have to be exposed to the dangers of human trafficking.” Unfortunately, he said, the OFWs from the different areas of the BARMM are vulnerable to human trafficking, and “it is more unfortunate that despite the rising statistics of human trafficking involving OFWs, more and more Filipinos are enticed by the promise of a greener pasture abroad.” The Office of the Chief Minister is set to identify and designate a focal office to spearhead the creation, establishment and operation of the task force. “The MOA is just good for a year, so we have to operationalize the Bangsamoro Task Force,” Alba said. The creation of the task force was spearheaded by the Office of the Chief Minister. Other ministries and offices of BARMM would also be represented in the task force.

Editor: Vittorio V. Vitug • Thursday, January 23, 2020 A3

SC junks de Lima’s plea for writ of habeas data against Duterte By Joel R. San Juan @jrsanjuan1573

HE Supreme Cour t has junked the petition for the issuance of a writ of habeas data filed by detained opposition Sen. Leila M. de Lima in a bid to stop President Duterte’s verbal attacks and gathering of information against her. In a 22-page decision penned by former SC Chief Justice Lucas Bersamin prior to his retirement on October 18, 2019, but was released only to the public on Wednesday, the Court en banc held that the President is immune from suit during his incumbency. “The Court dismisses the petition for writ of habeas data on the ground that respondent Rodrigo Roa Duterte, as the incumbent President of the Philippines, is immune from suit during his incumbency,” the SC said. It noted that the Constitution provides remedies for violations committed by a sitting President except an ordinary suit before the Courts. A writ of habeas data is a remedy available to any person whose right to privacy in life, liberty or security has been violated or under threat by the unlawful gathering of information about the person, his

or her family and home. The Court held that its decision does not deprive de Lima of her right to seek redress but would have to wait until President Duterte finishes his term in 2022. “Indeed, the Constitution provides remedies for violations committed by the Chief Executive except an ordinary suit before the Courts. The Chief Executive must first be allowed to end his tenure [not his term] either through resignation or removal by impeachment. Being a member of Congress, the petitioner is well aware of this, and she cannot sincerely claim that she is bereft of any remedy,” the SC explained. “If this Court were to first require the President to respond to each and every complaint brought against him, and then to avail himself of presidential immunity on a case to case basis, then the rationale for the privilege—protecting the President from harassment, hindrance or distraction in the discharge of his duties—would very well be defeated. It takes little imagination to foresee the possibility of the President being deluged with lawsuits, baseless, or otherwise, should the President still need to invoke his immunity personally before a Court may dismiss the case against him,” it added.

De Lima previously said that her petition would be in a ‘”test case” of Duterte’s presidential immunity. She said her decision to seek legal redress was prompted by the repeated attacks that the President has launched against her as a person and as a woman. “This case presents a novel issue of transcendental importance: Can a sitting President wage a personal vendetta against petitioner and use the resources of his powerful office to crucify her as a woman, a human being, and a duly elected senator in violation of her right to privacy in life, liberty and security?” de Lima said in her plea. De Lima said the verbal attacks on her person are not covered by presidential immunity from suit because they are not the official acts of a President. It also would not distract the Chief Executive since the case could be handled by the Office of the Solicitor General (OSG). “If Sen. de Lima’s position that the acts complained of are not related to the official functions of the President, then it also necessarily follows that the OSG can no longer continue to represent him,” the SC explained. De Lima based her allegations that there was a violation of her

rights under the Magna Carta of Women, as well as Republic Act 6713 (Code of Conduct and Ethical Standards For Public Officials and Employees). Duterte had alleged that de Lima’s former driver and alleged lover Ronnie Dayan collected money from drug lords detained at the New Bilibid Prison in Muntinlupa City to help fund her campaign in the May 9, 2016, elections where she won a Senate seat. He claimed that a sex video between the former justice secretary and her lover exist, which the former vehemently denied. But the SC said it would be impossible to enable her cause of action to be established without first determining whether or not said laws, which carry penal sanctions, had been violated. “Any ruling on her petition will necessarily entail a judgment on whether or not the President violated said laws.... Being a member of Congress, the petitioner [de Lima] is well aware of this, and she cannot sincerely claim that she is bereft of any remedy,” the SC ruled. Aside from Bersamin, 12 other associate justices voted in support of the decision while Associate Justice Jose Reyes Jr. was on leave. There were only 14 justices at the time of the voting.

A4 Thursday, January 23, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

PCC firms up capability to fight cartels, competition law violators and saboteurs By Elijah Felice E. Rosales @alyasjah

HE Philippine Competition Commission (PCC) has primed up its capability to go after competition law violators that may very well include cartels. The country’s antitrust body and the Supreme Court on Tuesday launched the Rule on Administrative Search and Inspection under the competition law that would enable the PCC to carry out unannounced raids against business establishments suspected to be engaged in anticompetitive transactions, among others. PCC Chairman Arsenio M. Balisacan said the rules would boost the PCC’s power to carry out its

mandate of going after economic saboteurs and cartels, as well as the protection of the rights of consumers and entities. “As the PCC nears its four year anniversar y next month, the commission acknowledges that the momentum we have gained, thus, far can only be sustained by strengthening our armory of investigative tools. With the Supreme Court’s rule now in place, the conduct of inspections or dawn raids is expected to significantly bolster PCC’s case building and increase the number of prosecutions of competition law offenses in the coming years,” Balisacan said. “Because competition law offenses are illegal, and some are even criminal, the participants take

pains to conceal it. This secrecy, as well as the advancement in technology, make discovering and proving violations much more difficult for enforcers,” he added. Balisacan said competition authorities around the world have utilized unannounced inspections, or dawn raids, as an effective tool in obtaining evidence in cartel and other anticompetitive cases, particularly with great risk of tampering, or destroying evidence. On the other hand, as the chairman of the high court’s Special Committee for the Rules on Inspection, Supreme Court Chief Justice Diosdado Peralta stressed the importance of the rules to be responsive to the needs of the enforcers, and that the results of court

procedures and issuances are in accordance with the principles of justice and legitimacy. The rules took effect on November 16, 2019, and shall govern the application, issuance and enforcement of an inspection order for investigations of alleged violations of the competition law and its implementing rules and regulations. All applications for an inspection order shall be acted upon within 24 hours from its filing. Information subject to inspection include books, tax records, documents, papers, accounts, letters, photographs, as well as databases, means of accessing information contained in such databases and electronically stored information.

IT-BPM FIRMS TO DUTERTE: LIFT BAN ON NEW METRO ECOZONES

NFORMATION-TECHNOLOGY and business-process management (IT-BPM) firms are calling on President Duterte to approve pending applications to develop economic zones in Metro Manila to boost their industry’s chances at recovery. Rey E. Untal, president of the Information Technology and Business Process Association of the Philippines (Ibpap), said 2019 was a better year for the IT-BPM industry than 2018. This, in spite of the drop in investment registrations in the sector by 14.53 percent to P17.57 billion, from P20.56 billion. Untal said 2019 was the better year because the IT-BPM industry was able to get a steady flow of capital from both existing and new investors, unlike in 2018 when firms already operating here were holding off expansion plans in anticipation of a reform in the fiscal structure. “Subjectively, last year was actually good. It’s slightly better than 2018. On the ground, we saw quite a bit of growth both in terms of new players and the incumbent, but it’s very difficult to make any pronouncements, forward looking numbers until we get our study completed,” Untal said in a recent interview with reporters. As such, Untal said the industry is requesting the President to approve pending applications to put up economic zones in Metro Manila. This way, firms can expand operations, which should allow for the complete recovery of the industry. The Philippine Economic Zone Authority (Peza) is presently prohibited by Administrative Order 18 to accept, process and approve applications for the development of economic zones in Metro Manila. President Duterte last year issued AO 18 that imposed a moratorium on the processing of economic zone development applications in the nation’s capital to promote doing business in the countryside. Up to now, the presidential order is still in place, and IT-BPM firms, which are mostly located in Metro Manila, are struggling to find new office spaces. “It [AO 18] continues to be a concern because nothing has changed about the position that was previously taken,” Untal said. “The good news is that some of the Peza applications were granted,” he added. “I still don’t have the complete picture of those pending and those approved, but we are still requesting that those pending items be approved to boost the growth that we are anticipating,” the Ibpap chief added.

UNLEASH THE DRAGON

DPWH reports 60% completion of ₧1.8-billion Mindoro Island Circumferential Road project @lorenzmarasigan

HE Department of Public Works and Highways (DPWH) reported on Wednesday that the P1.8-billion Mindoro Island Circumferential Road project, which was started by the previous administration in 2014, is more than halfway complete. Public Works Regional Director Wilfredo Mallari said the project is

now 60-percent finished, and that the completion of the said road is critical to improve access to coastal and mountainous areas of Mindoro. He added that the project will “also pave the way for the socioeconomic development projects and programs of the provinces of Oriental and Occidental Mindoro with a significant impact of alleviating poverty in the influence areas.” Under the P1.8-billion plan, the government aims to build an

18.2-kilometer road that traverses Oriental Mindoro and Occidental Mindoro via Puerto Galera and Abra de Ilog. When completed, the circumferential road will reduce travel time from Calapan City to Mamburao from six hours to two hours. “The road will surely generate jobs that will provide means of livelihood and access to basic services, such as schools, hospitals and markets will also be easier,” said Mallari.

Neda lists priority bills 3 years before Duterte admin ends By Cai U. Ordinario @caiordinario

HE passage of National Land Use Act (NLUA) and Philippine Maritime Zones Act are included in the list of priority legislation in the last three years of the Duterte administration, according to the country’s socioeconomic planning agency. In a briefing on Monday, a National Economic and Development Authority (Neda) official said other bills include the amendment of the Consumer Act to include e-commerce, e-vehicles, and Local Population Development Act, among others. Neda Undersecretary for Policy and Planning Rosemarie G. Edillon said the time frame for passing these bills is this year to ensure they are passed before the campaign for the 2022 election season starts. “Of course [we are pushing for the passage of all] the economic bills, the strengthening [of] the culture of planning in the country and the NLUA bill, [those are my] top 5 bills.

PHL oil output down to 776,093 barrels in 2019, DOE data shows By Lenie Lectura

@llectura

IL production in the Philippines last year declined to 776,093 barrels compared to the previous year’s 1.26 million barrels, data from the Department of Energy (DOE) showed. Data showed there are four sites where oil is being sourced. These are Nido, Matinloc, Galoc and Alegria oil fields. Among them, Galoc oil field produced the most with 744,449 barrels; Alegria with 9,468; Nido with 20,634; and Matinloc with 1,542. Nido and Matinloc oil fields, both located in Northwest Palawan, ceased production activities last year. Nido’s last production was in April with 18 barrels. Matinloc produced 678 and 864 barrels in January and February, respectively. In over four decades of production operations, Nido and Matinloc were able to produce 18.9 million barrels of oil and 12.5 MMBO, respectively. The oil fields are no longer commercially viable. During the 12-month period, oil production peaked in the first quarter when Nido and Matinloc were still active. The four oil fields produced 214,818 barrels from January to March this year. Production slowed down to 189,724 barrels in the second quarter and further down to 185,168 barrels in the third quarter. In the last quarter of 2019, oil production slightly

improved to 186,384 barrels. The same data showed that the country’s natural gas output last year stood at 155,690.57 million cubic feet, slightly higher than 2018’s 154,621.87 mmscf than the previous year. In 2018, oil production from the same oil fields reached 339,776 barrels in the first quarter, 325,956 barrels in the second, 309,929 barrels in the third and 287,865 barrels in the fourth quarter. Galoc still produced the most with a total of 1,166,765 barrels out of the 1,263,526 barrels recorded in 2018, followed by Alegria with 1,983 barrels, Nido with 51,743 barrels and Matinloc with 43,045 barrels. The DOE is aware that the increase in exploration and development activities is a measure against the pricing of oil, affecting costs of transportation and power. For an energy secure future, the DOE is committed to “Explore, Explore, Explore!” in the pursuit to energy independence, security, and sustainability through effective and reasonable development of all indigenous energy resources in the Philippines. The DOE launched the Philippine Energy Contracting Program to showcase the petroleum exploration opportunities in the country and to attract energy investors to develop the country’s indigenous oil and gas resources.

House panel sends biotech bill to plenary for approval

A group of young merrymakers prepare for the traditional dragon dance on a street decorated with colorful paper lanterns in the predominantly Filipino-Chinese community of Binondo, Manila, ahead of Saturday’s (January 25, 2020) celebration of the Chinese lunar year. NONIE REYES

By Lorenz S. Marasigan

www.businessmirror.com.ph

Disaster resiliency bill should also be included,” Edillon said. The list of priority bills also include those that will improve the investment climate, such as amendments to the Public Services Act and the Retail Trade Liberalization Act. There are also bills to support culture, such as the modernization of the national library and those that seek to improve disaster risk reduction and management through the legislation of the proposed Evacuation Center Act.

Land use

NLUA has been languishing in Congress for the past 30 years, which means four administrations have failed to pass the law. Neda Undersecretary for Regional Development Adoracion M. Navarro said the administration is keen on having the law passed despite the suggestion of some Cabinet members to create an Executive Order (EO) first. Navarro said, however, Neda is ready with the draft EO which will

be discussed in the Cabinet assistance system meeting on January 22, Wednesday. She explained that the EO was initially drafted to implement existing laws related to land use without having to wait for legislation. The only things the government cannot implement under an EO are the additional sanctions, restrictions and additional programs which need funding. “It was expressed by certain members of the Cabinet that we might [encounter difficulties] at the Senate but Neda is ready to present our arguments before the House and the Senate,” Navarro said. Socioeconomic Planning Secretary Ernesto M. Pernia said passing the NLUA has been deemed a priority by the President in his State of the Nation Address (Sona) since assuming office in 2016. Navarro said while the legislature will ultimately decide on the fate of the NLUA, the Neda’s draft EO, which was crafted with other agencies, will contain the executive’s input on the NLUA.

HE House Committee on Science and Technology has endorsed for plenary approval House Bill 3372, or the Modern Biotechnology Act. The House Committee on Science and Technology said on Tuesday the committee report of the bill is now being readied for another round of deliberations at the plenary. AAMBIS-OWA Party-list Rep. Sharon Garin, principal author of the bill, said the proposal seeks to combat poverty through the modernization of biotechnology in the Philippines. The bill seeks to expedite the regulatory decision-making process in biotechnology to help ensure the health and well-being of Filipinos, promote competitiveness, reduce hunger and poverty, and mitigate the effects of climate change. “It is time that safe and responsible use of biotechnology is included in the Philippine tool kit to meet national development goals,” Garin asserted. According to Garin, the current regulatory regime, which is based on outdated knowledge and assumptions, must be revised to enable the Philippines to benefit from products of modern biotechnology without delay. “Support is also needed to accelerate research and development to further ensure the utility and safety of products of modern biotechnology,” she added. Right now, Garin said it takes 65 months or more to complete all requirements for the commercial release of modern biotechnology products. “The cumbersome regulations can no longer be justified for they effectively discriminate against local public biotech research institutions which have limited resources to comply with the existing regulations. This proposed bill will address this concern,” said the lawmaker. Biotechnology is also seen to increase yields and better products, leading to more income for farmers.

Moreover, Garin noted the significant contribution of biotechnology to agricultural development to make bioengineered products more accessible to all Filipinos. “We are trying to dispel the notion that commercially produced bio-fortified goods are potentially dangerous. This is a victory for science, agriculture, and all Filipinos. Moreover, she said the National Economic and Development Authority’s (Neda) recognizes agricultural biotechnology as a priority sector with a direct impact on AmBisyon Natin 2040. The 2015 statistics show the average poverty incidence in the Philippines is about 21.6 percent and is highest among farmers at 34.4 percent, she noted. Under the bill, the Biotechnology Authority of the Philippines shall be established as a policymaking body and an attached agency of the Department of Science and Technology (DOST) responsible for reviewing, improving, and implementing biosafety regulations for products of modern biotechnology. Further, BioAP shall ensure that the biosafety regulations are science-based, and simplified with a product based and not a processbased approach. Biotechnology Innovation Organization (BIO) defines biotechnology as the use of biotechnological processes “to harness cellular and biomolecular processes to develop technologies and products that help improve our lives and the health of our planet.” To promote the responsible use of biotechnology, the bill also proposes the penalization of unauthorized destruction of biotech crops, sale or distribution of fake Genetically Modified Organism seeds. A fine of 500,000 and/or imprisonment for two years shall be imposed on individual violators. If the violation is made by an organization or an institution, a fine of P10 million and/or suspension of the privilege to operate within the Philippines shall be imposed. Jovee Marie N. Dela Cruz

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Army, Navy boost bilateral cooperation, partnership with US, Spain counterparts

ELEG AT IONS f rom t he United States Army Pacific (USARPAC) and the Spanish Navy visited the Philippine Army and the Philippine Navy headquarters as the Armed Forces of the Philippines (AFP) continue to strengthen its bilateral ties and cooperation with its counterparts abroad. Brig. Gen. Kevin Leahy, commanding general of the 7th Infantry Division of the US Army, and his party called on Army commanding general Lt. Gilbert Gapay at Fort Bonifacio wherein the two military officials discussed bilateral cooperation and training for both armies. Among others, the two discussed future plans for Salaknib 2020, an army-to-army bilateral exercise that aims to fortify both forces’ capabilities and interoperability in conventional, joint and combined operations, as well as, their skill competencies in counterterrorism operations, said Army spokesman Col. Ramon Zagala. “We’re interested in helping where we can and [also] learn from your experience. Showing you what we know and the experiences we have and mostly, getting the teams together,” Zagala quoted Leahy as saying during the discussion. Zagala said Gapay had recommended to extend the training under Salaknib for two to four months in order to give more focus on the Philippine Army’s developing units, such as the Army Aviation Regiment (Pro-

visional), 2nd Multiple Launch Rocket System Battery, 1st Land-based Missile System Battery and Cyber Battalion. Gapay recalled the Army’s contingent to the Salaknib, the 1st Brigade Combat Team, and its experience last year wherein suicide bombers attacked the unit in Jolo, Sulu, and were neutralized immediately. “[We want to further] train the newly created units and orient them in their special assignments [as they are part] of Army’s future force in defense,” the Philippine Army chief said. “Exercises such as the Salaknib give the Philippine Army an opportunity to advance its competencies and gain additional knowledge necessary for capability development, enabling us to be more effective in safeguarding the nation against terrorist threats,” Gapay added. On the other hand, Admiral Lopez Calderon, chief of the Spanish Naval Staff, who is in the country on an official visit, shared best practices and exchanged views with Navy chief Vice Admiral Robert Empedrad on a number of issues and challenges, including on maritime security, piracy, smuggling and terrorism. “Said visit provided the officials of both navies an opportunity to share best practices and operational experience on the various challenges faced in carrying out their respective missions,” said Navy acting public affairs office chief Lt. Commander Maria Christina Roxas. Rene Acosta

Thursday, January 23, 2020 A5

Day 11: Alert Level 4 remains despite Taal’s weakening volcanic activity–Phivolcs S

LOCALIZED PEACE TALKS CONTINUE TO YIELD RESULTS IN BUKIDNON, N.E.

By Jonathan L. Mayuga @jonlmayuga

OLCANO experts said new features have been observed inside the main crater of Taal Volcano since the January 12 phreatic eruption. While Phivolcs acknowledged that significantly fewer plumes and sulfur dioxide were emitted, and weaker volcanic earthquakes were recorded over the past few days, it is not keen on lowering the Alert Level. This as volcano experts obser ved new feat u res i n Ta a l Volcano since its eruption on January 12. Maria Antonia Bornas, chief of Phivolcs’ Volcano Monitoring and Eruption Prediction Division, said new lava flows were detected based on the latest satellite image obtained over Taal. Volcanologists, she added, also observed what could be a new scoria cone inside the main crater which has since dried up after the volcano’s successive eruptions. A scoria cone is formed by lava fountaining, Bornas explained.

Phivolcs maintains that Alert Level 4 is still in effect over Taal, even though the past two days recorded weaker volcanic activities. Based on Phivolcs Volcano Bulletin issued at 8 a.m. on January 22, 2020, activity in the main crater in the past 24 hours has been characterized by weak emission of white steam-laden plumes 50 meters to 500 meters high from the main crater. Sulfur-dioxide emission was measured at an average of 153 tons per day. Bornas noted that this is the second day the volcano’s sulfur-dioxide emission was significantly lower. However, she maintained that it should not be misconstrued as a trend. “It is possible that the opening was plugged preventing the sulfurdioxide emission,” she said. Bornas said hazardous explosive eruption within hours to days is still likely with the magma reaching the surface of the volcano’s crater. Hydrovolcanic and magmatic activities underneath the volcano caused the swelling of land mass on the volcano island, the lake and several areas around it, explaining

the huge fissures and cracks in the vicinity of the volcano, including the Pansipit River Valley, the only river outflow of Taal Lake that leads to the Balayan Bay. According to Bornas, the Philippine Seismic Network (PSN) and Taal Volcano Network (TVN) continue to record volcanic earthquakes. The PSN plotted a total of six weak volcanic earthquakes between 5 a.m. on January 21 until 6 a.m on January 22. Meanwhile, during the same period, the TVN recorded 481 volcanic earthquakes, including eight lowfrequency earthquakes. Although significantly fewer earthquakes were felt, the volcano expert said the intense activity likely signifies continuous magmatic intrusion beneath the Taal edifice, which may lead to further eruptive activity. As such, she reiterated the evacuation order of Taal Volcano Island and ensure that high-risk areas as identified in the hazard maps within the 14-kilometer radius from the Taal main crater and along the Pansipit River Valley remain “off-limits” to human activities.

EVEN members of the New People’s Army (NPA), including the group’s two highest leaders in Bukidnon, have yielded to the government, while 26 former rebels and members of their auxiliary force received their initial assistance under the Enhanced Comprehensive Local Integration Program (E-CLIP) in Nueva Ecija. Resylyn Pardo, alias Jamby, and her husband, Reynante Tumbalang, alias Jigger, led five other rebels in yielding to civilian and military authorities in Bukidnon, prompting provincial officials to declare that the localized peace talks with the rebels are working. Pardo is the former secretary of the NPA’s Guerrilla Front 6 that operates in Bukidnon. Her husband is the former commanding officer of front operational command of the GF 6. The GF 6, officials said, was the political organization of the NPA that recruited residents of Valencia City, San Fernando, Kitaotao, Maramag, Don Carlos, Dangcagan and Quezon, all in Bukidnon, to the rebel movement. In Nueva Ecija, 17 former members of the NPA’s Militia ng Bayan in Carranglan and nine former rebels from San Jose, have received their initial financial package from provincial, national government and military officials on Tuesday. Rene Acosta

A6 Thursday, January 23, 2020 • Editor: Angel R. Calso

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editorial

There’s urgent need to address inequality

he growing gap between rich and poor is undermining the fight against poverty, damaging economies and fueling political polarization across the globe. An Oxfam International report, “Time to Care,” released on January 20 ahead of the World Economic Forum’s annual meeting in Davos, Switzerland, revealed a world that has reached a disturbing new threshold: The world’s 2,153 billionaires have more wealth than the 4.6 billion people who make up 60 percent of the planet’s population. Even the World Economic Forum has acknowledged that “global inequality has become entrenched and is likely to worsen amid an era of technological change.” “The gap between rich and poor is getting worse by the day and is fueling populist backlashes,” said Winnie Byanyima, executive director of Oxfam International. “Extreme inequality is really out of control…it’s undermining our economies, fracturing our societies, fueling crime, fueling ill-health—it’s bad for everyone.” The Oxfam report also showed how the world’s sexist economies are fueling the inequality crisis, enabling a wealthy elite to accumulate vast fortunes at the expense of ordinary people, particularly poor women and girls. Consider: The 22 richest men in the world have more wealth than all the women in Africa. Women and girls put in 12.5 billion hours of unpaid care work every day – a contribution to the global economy of at least $10.8 trillion a year, which is more than three times the size of the global tech industry. The Oxfam report said getting the world’s richest one percent to pay just 0.5 percent extra tax on their wealth over the next 10 years would equal the investment needed to create 117 million jobs in sectors such as elderly and childcare, education and health. Oxfam India CEO Amitabh Behar, who is in Davos to represent the Oxfam confederation this year, said: “The gap between rich and poor can’t be resolved without deliberate inequality-busting policies, and too few governments are committed to these.” He added: “Our broken economies are lining the pockets of billionaires and big business at the expense of ordinary men and women. No wonder people are starting to question whether billionaires should even exist.” Lamenting that women and girls are among those who benefit least from today’s economic system, Behar said their unpaid care work—spending billions of hours cooking, cleaning and caring for children and the elderly—is the “hidden engine” that keeps the wheels of our economies, businesses and societies moving. “It is driven by women who often have little time to get an education, earn a decent living or have a say in how our societies are run, and who are therefore trapped at the bottom of the economy.” The Oxfam report said governments are massively under-taxing the wealthiest individuals and corporations and failing to collect revenues that could tackle poverty and inequality. At the same time, governments are underfunding vital public services and infrastructure that could help reduce women’s and girls’ workload. It said investments in water and sanitation, electricity, childcare, and health care could free up women’s time and improve their quality of life. For example, providing access to an improved water source could save women in parts of Zimbabwe up to four hours of work a day, or two months a year. “Governments created the inequality crisis—they must act now to end it. They must ensure corporations and wealthy individuals pay their fair share of tax and increase investment in public services and infrastructure. They must pass laws to tackle the huge amount of care work done by women and girls, and ensure that people who do some of the most important jobs in our society—caring for our parents, our children and the most vulnerable—are paid a living wage,” Oxfam said. Citing World Bank research, Oxfam said reducing inequality has a bigger effect on lowering extreme poverty than economic growth. “If countries reduced income inequality by 1 percent each year, 100 million fewer people would be living in extreme poverty by 2030,” Oxfam said. Undoubtedly, there’s an urgent need to address economic inequality globally. Oxfam has called on governments to adopt “inequality-busting policies.” However, corporate leaders must recognize the fact that their companies can play critical roles in ensuring that the benefits of economic growth are felt by all segments of society. Since 2005

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‘Eat the rich’ John Mangun

OUTSIDE THE BOX

very year, about 3,000 of the global elites gather for the World Economic Forum in Davos, Switzerland. Several hundred to several thousand protestors come to Switzerland to express their grievances against these rich.

The complaints are many and diverse, but can probably be best summed by this: “They say they want to make the world better, but for 50 years they haven’t done anything,” said Rosalina Mueller, a spokesman for the Young Socialists that helped organize the demonstration. By almost all quality of life measures—life expectancy, childhood mortality, global literacy rates and numbers in extreme poverty—the world is now a better place. “World poverty has fallen from an estimate of well above 80 percent in the beginning of the 19th century,” the World Bank finds, “to under 20 percent today.”

However, the core of the protestors’ dissatisfaction might be on the signs they carry: “Eat the rich.” The phrase is an abbreviation of a saying attributed to Jean-Jacques Rousseau: “When the people shall have nothing more to eat, they will eat the rich.” There is certainly truth to the idea that there may be something wrong with the fact that 26 of the world’s richest men have more combined wealth than the poorest 3.8 billion people. Likewise, according to a report from the Economic Policy Institute, the average CEO pay is about 280 times the nearly $58,000 annual average pay of the typical American worker. In 1965, according to the

same report, the income disparity ratio was 20.2 times. Therefore we are experiencing “wealth inequality” and “income inequality.” Bill Gates—one of the richest in the world with a current net worth of $108 billion—says his extreme wealth is not right. “The distance between top and bottom incomes in the United States is much greater than it was 50 years ago. My $109-billion net worth shows the economy is not fair.” The irony is astonishing. His $109-billion net worth has nothing to do with the system or the economy. He made a choice in 1986. Microsoft went public, and Gates held on to 45 percent of the company then worth $350 million. Selling shares and investing in other ventures made him the richest man on the planet. Neither the system nor the economy forced Gates to retain that 45-percent ownership. Neither forced him to buy a house for $127 million. And a $1,000 investment in Microsoft on listing day would be worth more than $2 million today. Gates had 350,000 “$1,000 investments.” Walt Disney’s grand niece has become the spokesman for income inequality, calling Disney CEO Bob Iger’s 2018 salary of $65

million “insane.” She says this would have never happened in Uncle Walt’s time. Prior to its IPO in 1957, Uncle Walt and his partners owned 100 percent of the company. If Disney was still a private company—and Disney was alive—Walt Disney would have earned over $2 billion in cash dividends in 2018. Mr. Iger is the largest individual shareholder of Disney, owning 0.001 percent of the company. His salary is 0.6 percent of the company’s $11 billion in profits. How much should a person be paid who heads a company with $69 billion in revenue and 200,000 employees? If you operated a company that generated P10 million in annual profit, would you be satisfied with a P60,000 annual salary? But there are some that take at least the income inequality seriously. Amazon’s Jeff Bezos received a salary of $81,000 in 2018, and Tesla’s Elon Musk took home $50,000. Of course, Bezos is worth $115 billion and Musk comes in at $30 billion. E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

The next pandemic will come: Here’s how to prepare

By Andreas Kluth | Bloomberg Opinion

S a new coronavirus spreads within China and to other countries, I’m reminded of my time in Hong Kong during the SARS outbreak of 2003. Back then, I spent an otherwise beautiful spring wearing masks in public but mostly working from home, as I reported on the disease and the struggle to contain it. Every day at the same time—3:20 p.m., if my memory’s correct—I checked an official Hong Kong web site, which I trusted completely, to see that day’s new cases. I remember my relief as the number finally trended down. When it was over, it felt as though SARS had been just a shot across the world’s bow. For one thing’s certain: the next pandemic will come, and it may resemble the Spanish flu of 1918, which infected half a billion people. The questions are when, where and how, and whether we’ll be ready “collectively.” I say collectively because a pandemic, like climate change, doesn’t respect passports or borders. We don’t quarantine, cure or save America First, or China First or anybody first; we either put humanity first, or we all lose. There are other links between climate change and pandemics (and, to be clear, the current outbreak is still far from being one). The main connection is that global warming actually creates new disease vectors. As the permafrost thaws in places like Siberia, viruses that have been frozen for millennia, and against which animals and humans no longer have any resistance, will resurface. And as desertification and other side effects of warming move the boundaries between habitats, species will come into contact with creatures they’ve never

encountered before. That’s how viruses start their journey. What, then, are my lessons from the SARS outbreak? First, that we must plan for human nature, both in its perfidy and its heroism. I observed SARS crash into various cultures in totally different ways. Mainland China, at first, suppressed information about it, fearing economic loss or political turmoil. But that allowed the virus to spread farther and faster for longer than was necessary. And once China did open up on the subject, its people no longer trusted the government’s information. Rumors circulated and often prevailed over facts, hampering the official response. Singapore, by contrast, lived up to its reputation for iron discipline with immediate quarantines that I initially considered draconian and illiberal, but came reluctantly to respect. Taiwan initially showed the darker side of individualism, as some hospital workers, to protect themselves and

their families, shirked their duties. In Hong Kong (and then Taiwan and other places too) the opposite happened, as nurses and doctors cared for the victims and valiantly fought the virus. Nobody who’s read Albert Camus’s The Plague or Jose Saramago’s Blindness should be surprised that human beings, individually and in crowds, will respond unpredictably to such crises. Some will hoard scarce medicine or food that’s more urgently needed by others. Some will break quarantines to be with loved ones. Some will do their duty, others won’t. The biggest lesson, which China seems to have learned, is that the government must be ruthlessly honest and transparent. The more facts, the better. Hide nothing. It was my trust in that Hong Kong web site that eventually made me believe SARS was waning. Once trust between the population and the state breaks down, controlling an outbreak becomes almost impossible. Another lesson is, thankfully, one we’ve already learned. Screening and surveillance, which should usually be used with caution in free societies, becomes necessary in an outbreak and is effective. Even now, various airports around the world are digitally observing the body temperatures of passengers arriving from Wuhan, the center of the new outbreak. Quarantine should be voluntary, at first, and actively encouraged by employers and government. Whoever can work from home, via Skype and such, should do so, without fearing recrimination. The more people can

keep acting on their own volition, the more “agency” they believe they have, the calmer and more cooperative they will remain. Once an outbreak goes out of control, of course, quarantines must become mandatory. But the most profound lesson is that we must cooperate as a species, with a geopolitical approach that seems to have gone out of fashion: multilateralism. We’ve always been locked in an arms race between the evolution of viruses, bacteria and fungi, and our medicines against them. When a new virus appears, it potentially threatens all of us and should be fought by all of us together. That means a new bug’s genome, wherever it’s first collected, should be sequenced and immediately made available, like open-source computer code, to certified researchers everywhere. (You still need the World Health Organization or some such body to accredit the boffins, lest the genome gets into the hands of terrorists). All labs and scientists should then share their insights with the entire profession. The bad news is that we cannot be sure that humans will rise to global threats, such as climate change or pandemics, because we’re so prone to put what we perceive to be our own interests, or our nations’, first, only to suffer the consequences later. The good news—and this too is something I learned from SARS—is that every time we do join together to defeat a new threat, we’re reminded how much we have in common, and fight better the next time.

Opinion BusinessMirror

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Curing trade deficits requires holistic economic rebalancing

To be a light in the darkness Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

Dr. Rene E. Ofreneo

LABOREM EXERCENS Continued from A1

he problem is that we live in an increasingly volatile and unpredictable world. There is an eerie calm in the Middle East after the weak Iranian response to the American killing of General Qassem Soleimani. But foreign analysts expect more conflagration in the Gulf Area, a conflagration that might result in a mass return migration for some 3 million overseas Filipino workers. There is also rising xenophobia in many migration destination countries. The other economic savior of the Philippines, call center-BPO sector, is also being buffeted by the rapid advances in technology such as the rise of the chatbots and automated do-it-yourself gadgets. Growth in the sector has been in a plateau since 2017. More and more countries such as Vietnam are also participating in the global service offshoring industry, giving India and the Philippines stiffer competition. The point is that one cannot be complacent in the face of the threats facing the country’s two major life savers. This is indeed the time for an honest-to-goodness reassessment of economic policy directions and institute measures to promote a more balanced economic structure. In this regard, the BOI mentioned two major policy targets: One, balancing trade with the major sources of imports: China, South Korea, Indonesia and Thailand. We agree. As we have argued in the past, the best economic assistance that China can offer to the Philippines is a balancing of its trade relations with the latter. China accounts for one-third of the total trade deficit. China is also one reason for the collapse of a number of Philippine industries, from the 1980s onward. Think of the Filipino shoe, plastic and various light industries. China, as a reliable economic partner, has also been questioned by many Filipinos. China’s loan and investment contracts in relation to a number of power, water and infrastructure projects have been denounced as onerous and onesided. China also responded to the Philippines’s new policy of greater economic openness to its neighbor by exporting Chinese construction materials for the country’s “Build, Build, Build” program, such as steel and sending tens of thousands of Chinese workers and managers to Metro Manila and select provinces as “Pogo” workers. No real balancing with China. The other declared goal of the BOI is “robust industrialization policy,” which means enhancing the country’s capacity to export more and import less. In support of this, the BOI is suggesting increased Philippine participation in the global value chains (GVCs), deeper engagement in the emerging free trade agreements (FTAs) such as the Regional Comprehensive Economic Partnership (RCEP), and imposition of remedies such as higher tariffs on certain products being dumped by certain exporting countries such as Vietnam. We fully agree with the need for “robust” industrialization policy. But robustness cannot happen by simply increasing Philippine participation in the GVCs and in the emerging FTAs. Factory Asia, led by China and enabled by the system of GVCs developed by the multinationals (MNCs), is now in crisis due to advances in automation and robotization (reducing incentives for the outsourcing of labor-intensive processes) and the rise of industrial protectionism (as mirrored in Trump’s America First). Also, unlike South Korea and Malaysia, the Philippines has been trapped in the low and middle levels of the GVC system because of its poor industrial base and absence/neglect of “Industrial Policy” in the past; on the

The point is that one cannot be complacent in the face of the threats facing the country’s two major life savers. This is indeed the time for an honest-togoodness reassessment of economic policy directions and institute measures to promote a more balanced economic structure. other hand, it is increasingly unable to compete with new but low-cost participants in the GVC system such as Cambodia. And why are there no Philippineinitiated GVCs that can conquer both the domestic and export markets? The point is that there is limited opportunity in the GVC system that is fracturing due to the factors mentioned above. The BOI’s industrial visioning energy is better spent on the development of industries with higher growth potentials, such as industries to meet the basic needs of 110 million Filipino consumers and those that can support the Build, Build, Build program (for example, revival of the integrated steel industry in Mindanao). In the case of the Build, Build, Build program, it is ironic that Phinma, once upon a time a leader in organizing basic industries in the 1960s-1970s, such as the cement industry, is now doing large-scale importation of Vietnamese cement for the government’s Build, Build, Build program. Also, there is a proposal of the Philippine Navy for the government takeover of the bankrupt Hanjin shipyard and its transformation into a Philippine shipbuilding industry catering to the needs of the Navy and the Philippine shipping industry. What is the BOI’s stand on this? As to the application of tariff remedies on imported goods, why have the government’s economic managers opposed the proposal of the farmer organizations for trade remedies against the surge of rice imports last year? These imports, estimated to be around 3 million tons, made the Philippines the world’s leading rice importer once more, per data surveillance by the US Department of Agriculture. These imports also made the lives of millions of Filipino palay farmers miserable, as palay prices went down to as low as P7 to P11 a kilo in various provinces, way below the production cost of P12 a kilo. Clearly, a more holistic re-assessment of industrial and agricultural policy options are needed in order to restore industrial “robustness” and attain trade balance for the country. Such a re-assessment should get out of the old simplistic development paradigm of the EOI neoliberal economists—export-orperish paradigm based on laborintensive (read: low-level) participation in the GVC system of MNCs. After five decades, the EOI program still has not delivered its promises: higher industrial development for the country and better welfare for the Filipino people.

Thursday, January 23, 2020 A7

rom feast days back to the Ordinary Time of the liturgical year, the Church brings us to the beginning of the public ministry of Jesus, summarizing His preaching and detailing the call of the first disciples (Matthew 4:12-23).

The great light Living in darkness is a favorite biblical metaphor for the people awaiting salvation. Jesus came to dispel the darkness covering humankind. Matthew, underlining the universality of Jesus’ mission of salvation, places the beginning of his ministry in the region of Zebulun and Naphtali in northern Galilee that had been occupied by Assyria. He quotes Isaiah (8:23-9:1) that this place, “Galilee of the Gentiles,” where people sit in darkness and dwell in a land overshadowed by death, has “seen a great light.” This echoes the infancy narrative’s visit by the overjoyed magi from the east who have seen the rising of the star of the newborn king of the Jews and have come to do him

homage (Matthew 2:1-11). And the evangelist explicitly connects the beginning of the ministry of Jesus with the end of the work of the imprisoned John the Baptizer. John called out to the Jews; Jesus from Galilee where He returned from the flight to Egypt (2:23-25) called out to all including the Gentiles to the path of light. After His resurrection, Jesus would summon His disciples back to Galilee (26:32) and from there command them to “go and make disciples of all nations” (28:19-20), as it is in Galilee where He calls His first disciples.

The first disciples

His disciples are to be his partners in the work of saving people.

“Fishers of men” (4:19) is his own description of what they are to be. They are to “fish” people out of the dark sea, the abyss, the kingdom of evil. Jesus tells them to come after Him, to follow Him in His mission from the Father in heaven. As Jesus calls Himself “the light of the world” (John 8:12), His disciples are to reflect Him like the moon does in relation to the sun. This imagery, used by Saint John Paul II in his programmatic Apostolic Letter Novo Millennio Ineunte (54) as the mysterium lunae (the mystery of the moon), is the patristic interpretation of our Christian mission in the world—a wonderful and demanding task to be the reflection of the Great Light to a world sitting in darkness. From the first disciples on to our third millennium, Jesus asks His followers to be “the light of the world” (Matthew 5:14). But for this universal mission of Jesus to succeed, conversion on our part is indispensable. The gospel call to metanoia (conversion), the continuity between John the Baptizer and Jesus (3:8.11), is the vital link between Jesus Himself and His disciples and all who would be saved. Real conversion, not some fake alternatives, means making a full turn for Jesus and turning one’s back to the previous life of darkness to live

The elite and Duterte’s chicken Val A. Villanueva

Businesswise

contract is a covenant between two people or entities embarking on a common, mutually beneficial goal. Once signed, that contract legally binds both parties to respect all its contents down to the fine print. From time to time, conflicts arise, and pleadings are brought before the proper courts. The most common is when one violates the contract terms. The legal avenue is for one party to sue the other for breach of contract. President Duterte was recently on war mode against so-called oligarchs whom he accused of corruption and threatened to have imprisoned. Not mincing any words, he cursed and accused the Ayalas and Manny Pangilinan of fleecing the people of billions of pesos through separate, “onerous” water concessionaire contracts, which the Fidel V. Ramos (FVR) government signed and the Gloria Macapagal-Arroyo (GMA) administration extended with the Ayalas’ Manila Water Co. and MVP’s Maynilad Water Services. Although both companies had signified that they would no longer seek payment for the more than P10.8-billion arbitral award they won before the Permanent Court of Arbitration in Singapore (the source of the President’s ire), Duterte’s fury was unabated. The issue remains his main beef in various speeches, never mind that the eruption of Taal Volcano has been wreaking havoc on people’s lives and properties, and the country’s economy, in the past two weeks. To recall, Manila Water was supposed to get P7.4 billion, and Maynilad, P3.4 billion, to cover their claimed losses when the government rejected their demand for tariff hikes. Signed by FVR, Maynilad’s and Manila Water’s 25-year deals were supposed to expire in 2022. The contracts were extended to 2037 by GMA, after the two firms were mandated to fast-track their respective wastewater investments. Even before such extension, however, through the Metropolitan Waterworks and Sewerage System (MWSS), GMA decided in July 2004 to recognize the two private firms not as public utilities, but as mere agents of the government agency, which sanctioned their passing on income taxes to consumers via tariffs. Neither my barber nor I are law-

yers, but we both know that no law under the water concession contract seems to have been violated by either water firm. FVR, in his defense of his water privatization legacy, says that the contract was well-thought-out and is a product of diligent and meticulous staff work. He says that the contract should be upheld, but if the present government sees the need to amend it, renegotiations must be done with both water firms. The Duterte administration, however, is hell-bent on putting these “oligarchs” in jail. Duterte should be reminded that the government consented to the contract, and that the contract is legally binding, no matter how onerous he or any other person may view it. Can the government throw the books at Maynilad and Manila Water? A legal eagle told me that private individuals could be sued under the graft and corrupt practices act only if they acted in conspiracy with government officials (RA 3019, https:// www.ombudsman.gov.ph/docs/republicacts/Republic_Act_No_3019.pdf). Since this is a criminal act, only individuals, such as the executives or board members of the corporation, could be charged, if it could be proven that they colluded with a government officer in committing any of the acts cited in laws, such as the plunder law. In this case, FVR could be implicated because he allowed the government guarantee to be part and parcel of the contract, and GMA, too, because she extended the contract under the same terms and conditions without competitive bidding. The legal eagle, however, opined that the concession contract should be viewed from the 1997 perspective when the water crisis gripped the entire nation. The recoverability of corporate income tax was, likewise, agreed on by both parties, and modeled after the water privatization in England and Wales. Some people are saying that the 2012 Supreme Court ruling disallowing corporate income tax recoverability in the Manila Electric Co.—since it is a public

FVR, in his defense of his water privatization legacy, says that the contract was well-thought-out and is a product of diligent and meticulous staff work. He says that the contract should be upheld, but if the present government sees the need to amend it, renegotiations must be done with both water firms.

utility—should be applied to both water firms. According to the ponente himself, Justice Rey Puno, the Meralco ruling was not meant to be applied to other utilities. More important, GMA had already classified the water concessionaires, not as public utilities but as contractors for MWSS. Even for the sake of argument that Manila Water and Maynilad are indeed public utilities, the ruling should not impair the contract. The Constitution forbids laws being passed prejudicing such agreement. If at all, the legal eagle said that it should apply prospectively and should only amend accordingly the extension of the contract starting 2022. Likewise, it is not true that the government is barred from participating in rate setting. Tariff is a continual source of negotiation between the concessionaires and MWSS regulatory office on recoverable expenses based on historical capital expenditures, operating expenditures and future projects. The government, in turn, is paid huge concession fees yearly. Also, no tariff increase will be finalized and effected without the approval of the MWSS board members who by the way are all Duterte appointees. The computation should be that the tariff will enable the concessionaires to recover all investments at the end of the concession agreement. Duterte often brags about his law degree to defend some of his questionable actions. I don’t know how he and his legal team will circumvent established jurisprudence to put the Ayalas and MVP behind bars on a non-bailable criminal offense. But some see Duterte’s action as a strategy to force the concessionaires to agree on a new deal his government has crafted that is now under review by both Manila Water and Maynilad. But the way I see it, Duterte is parlaying his populist magic before a gallery of captive audience, which has put him in power and has helped

by the light that is Jesus in His Gospel. “The light shines in the darkness and the darkness has not overcome it” (John 1:5): victory is assured for those who will do what is to be done. Christians cannot possibly be liberating and “fishing” others from darkness if they remained themselves prisoners in the dark. Alálaong bagá, this our Christian mission in the world to reflect like the moon the light of the sun is admittedly a daunting task considering our human sinfulness which often renders us opaque and full of shadows. The undeniable nominal Catholicism of so many Filipinos is rooted in the absence of true conversion to Jesus Christ, thus the contradiction between our actual lives and our so-called faith in Jesus. Conversion is not just sorrow for past sinfulness, but positive rebirth (pagbabagong-buhay, pagbabalik-loob) in the life of union with Jesus by the power of the Holy Spirit, shaped by the Word of God and characterized by mercy and charity to all. We do need a new evangelization based on conversion. Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

maintain his high trust ratings, according to pollsters. Already, he has upped the ante by including the UP Techno Hub, another Ayala project with the government, among the list of contracts to be reviewed. On Tuesday, Finance Secretary Sonny Dominguez revealed that Chevron’s (formerly Caltex) Philippines lease contract with the government would also be scrutinized. For the past four decades, the company has been renting a 120-hectare industrial park in San Pascual, Batangas, from a subsidiary of the state-run National Development Co. (NDC) for only 74 centavos per square meter a month, which the DOF finds “grossly disadvantageous” to the public. Chevron’s monthly rent is way below the current fair monthly market rate of P17.90 per square meter. For his populist magic to thrive, he has to pit “his people” against their perceived tormentors—the elite, the Ayalas and MVP—and maintain his stance that he is not part of the establishment that, to a large extent, the people abhor. Duterte has to give them a figure to hate and throw virtual rocks at. I’m reminded by a novel I read some time ago, written by Chingiz Aitmatov, a Soviet novelist. He recounted an incident in 1935 where Joseph Stalin invited his trusted people and some of his media henchmen into a meeting in a barnyard. In that meeting, he asked one of his staff to bring him a live chicken which he held forcefully in one hand, while his other hand plucked the poor chicken’s feathers in handfuls. The tormented chicken wiggled, squawked and withered under Stalin’s sadistic action until it was completely dressed. After putting the mortified chicken down, Stalin then scattered heaps of grain on the ground. The chicken, despite the pain, staggered to reach the grains and began to peck. Stalin then sprinkled some more grains just in front of him. The weakened chicken still struggled to go for the grains. Aitmatov recounted that Stalin turned to the people and said, “People are like this chicken. It doesn’t matter how much pain you inflict on them. The moment you offer them what they need, they will still follow you and turn to you for their survival.” Could it be that some of us are Duterte’s chickens, nibbling the grains out of his hand for survival? What will it take for us to get our dignity back and gain normalcy again? Aitmatov has this piece of advice: “...all it takes...is to stop being a chicken.” For comments and suggestions, e-mail me at mvala.v@gmail.com

A8 Thursday, January 23, 2020

Farm output growth misses ’19 goals on weather, ASF

By Jasper Emmanuel Y. Arcalas

@jearcalas

OTAL farm output expansion in 2019 was below government’s expectation as the growth rate settled at 0.7 percent due to the onslaught of African swine fever (ASF) and the typhoons that struck the country in December.

The Department of Agriculture (DA) had earlier aimed for a 2-percent production growth last year. Farm output went up by 0.54

percent in 2018. The DA had also targeted to grow agriculture production by 2.5 percent to 3 percent in the fourth

0.7% Total farm output expansion in 2019, versus a target of 2-percent production growth. The onslaught of African swine fever (ASF) and the typhoons that struck the country in December were cited as factors for the tepid record

quarter, but official data released by the Philippine Statistics Authority (PSA) on Wednesday showed that farm output during the period expanded by only 0.4 percent.

The PSA’s report on the farm sector’s performance last year indicated that the output of the crops and livestock subsectors declined in 2019, while poultry sustained its growth and the fisheries subsector had rebounded from a dismal performance in 2018. The value of crops production, which accounted for 50.6 percent of total farm output, fell slightly to P402.894 billion in 2019 from P406.119 billion in 2018, PSA data showed. Despite a 5-percent expansion in the fourth quarter, total unmilled rice output in 2019 declined by 1.3 percent due to a series of contractions in the previous quarters. See “Farm output,” A2

Health, airport units on high alert for coronavirus

EALTH Secretary Francisco T. Duque III on Wednesday called on all health units to “enhance standard infection prevention and control practices” as the country tightened monitoring for the novel coronavirus (2019-nCoV), which has downed hundreds and killed nine people in China. This, as the Department of Health (DOH) awaited the results on the samples for testing sent to Australia, from a suspected case—a five-year-old Chinese boy who arrived in Cebu City from Wu-

han, China, ground zero of the outbreak. Duque said the DOH expects the result on Thursday, January 23. “We must be always ready,”Duque said as he stressed the need to enhance the prevention side, especially in the emergency department. He also appealed to travelers with symptoms of respiratory illness, either after or during travel, to “seek medical attention immediately.” He encouraged health workers to take extra precautions “when in contact with

NORTHEAST MONSOON AFFECTING THE COUNTRY as of 4:00 pm - January 22, 2020

patients with acute respiratory infection, especially those with travel history to China.” The DOH advised the public to observe proper hygiene. “Practice frequent handwashing, avoid unprotected contact with farm or wild animals, practice proper cough etiquette—maintain distance and cover coughs, and sneezes, with a tissue or the crook of your elbow, avoid close contact with people showing cold or flulike symptoms, and ensure that food is well-cooked,” Duque said.

Senator slams ‘fake news’

Senator Risa Hontiveros on Wednesday moved to allay fears over reports that could be “fake news.” Referring to the five-year-old boy in Cebu, Hontiveros noted that “health authorities are still verifying if this is the same as the 2019 novel coronavirus,”recalling that the 2019-nCoV is a cousin of the SARS virus that infected hundreds since the outbreak in Wuhan district in China in December last year. “In the meantime, I’d like to emphasize that sowing panic will be detrimental to public health,” the senator stressed. “I support the advice of the World Health Organization and the Department of Health against sowing public panic,” said Hontiveros, adding that people should check information and verify the source before sharing this online. She aired confidence that the DOH and Bureau of Quarantine are “doing their best to protect public health.” Still, she asked authorities “to heighten preparation for the influx of more travelers from China due to the Lunar New Year on Saturday.” She prodded the Duterte administration to make resources available for immediate or emergency response, especially for frontline health workers and airport personnel. The Civil Aviation Authority of the Philippines (Caap) coordinated with the DOH and the Bureau of Quarantine to secure all commercial airports from the new coronavirus. “The Caap is closely monitoring arriving passengers from China especially in Kalibo International Airport, which has direct flights from Wuhan and other cities in China,” Caap said. Caap Director General Jim Sydiongco ordered the reactivation of communicable disease preparedness procedures in Caapoperated international airports such as Puerto Princesa, General Santos, Zamboanga, Davao, Kalibo, Laoag and Iloilo. “Protocols are already in place where airport frontline personnel have been advised to wear face masks, maintain proper hygiene and practice regular hand-washing. Posting of public advisories informing about coronavirus infections and the strict monitoring of suspected passengers are now also being enforced,” the Caap said in a statement. Many employees and arriving passengers at the Ninoy Aquino International Airport (Naia) now wear protective face masks. On Wednesday, airport quarantine officials at Naia invited two Chinese passengers who flew in from Guangzhou on board China Southern Flight 3091 after their body registered 38 degrees Celsius on the thermal scanners. Quarantine doctor Geraline Yangson, however, subsequently allowed the two foreigners to leave after a portable ear thermometer showed the duo’s temperature had gone down to 37 degrees Celsius. “Their high body temperature was probably triggered by the hot surrounding atmosphere at the airport,” Yangson said, adding that her examination showed the duo to be free from infection. “Passengers coming from Hong Kong, Macau, Taiwan, Guangzhou, Shenzen, Beijing as well as Shanghai—which are the possible connecting routes from Wuhan, China—are now being strictly monitored,” Yangson said. Claudeth Mocon-Ciriaco, Recto L. Mercene,

Butch Fernandez

SKYWAY 3 COMPLETION IN H2 TO EASE EDSA FLOW By Samuel P. Medenilla @sam_medenilla

OTORISTS plying Epifanio de los Santos Avenue (Edsa) could expect slight relief in the daily traffic congestion in the circumferential highway in Metro Manila with the completion of the Metro Manila Skyway Stage 3 project by the second half of the year. At an economic briefing in Malacañang on Wednesday, the Department of Public Works and Highways (DPWH) announced the 18.3-kilometer elevated expressway is projected to be operational by the second quarter of 2019. The Skyway, together with their other related infrastructure projects like the North Luzon Expressway (Nlex) Harbor Link, Segment 10, is expected to improve traffic on Edsa. “Our prediction is it will reduce traffic on Edsa between 20 and 30 percent by the second half of this year,” Public Works Secretary Mark A. Villar said.

Overcapacity

Villar explained that despite Edsa’s capacity being pegged at only 288,000 cars per day, it is being used by an average of 400,000 vehicles per day, leading to heavy traffic on the major thoroughfare, which passes through the cities of Caloocan, Quezon City, San Juan, Mandaluyong, Makati and Pasay. He said they expect 120,000 of the vehicles currently using Edsa will transfer to the soon-

to-be completed Stage 3 of the Skyway. As of January, the new phase of Skyway is already 76 percent complete. It is expected to cut down travel time from Buendia to Balintawak, Quezon City, from 2 hours to 20 minutes. Villar said this will make President Duterte’s commitment last year to allow travel along Edsa—from Cubao to Makati—in just five minutes. “Once the Skyway is completed, it will decongest Edsa so it is possible to travel for five minutes from Cubao to Makati,” Villar said.

Partial solution

Those using the elevated highway, should be ready to shell out between P74.2 and P91.5 for the convenience. “The toll [for Skyway 3] is not finalized, but more or less as guide, 4 to 5 pesos per kilometer will be its toll fee,” Villar said. Villar, however, admitted that additional highways and bridges is not the sole solution to the perennial Edsa traffic, as it should be complimented with a compatible mass transit system. DPWH has allocated P384 billion for its Edsa decongestion program, which involves the construction of 13 roads/ expressways and 10 bridges in Metro Manila. “The long-term solution for traffic is mass transit, which [Transportation] Secretary Art [Arthur] Tugade said is also in the advanced stages of his master plan for this,” Villar said.

PHL raises 1.2-B euros in 1st offer in ’20–DOF Continued from A1

new names on the books, noting that oversubscription also peaked at 3.58x or more than 4.3 billion. “We have successfully priced EUR 1.2B worth of three-year and nine-year Euro-denominated Global Bonds today. We issued the three-year [euro bond] with a yield of 0.10 percent allowing us to print at a 0-percent coupon for a Global bond with a spread of 40 bps [basis points] over benchmark. For the nine-year [euro bond], we achieved a coupon of 0.7 percent which is tighter than the 0.875 percent in our previous eighth-year issuance last May 2019 despite the longer tenor,” de Leon said. “We are also reaping the benefits of actively engaging investors prior to going out in the market,” she added. Finance Secretary Carlos G. Dominguez III said the market’s overwhelming response showed the international investors’ “deepening confidence” in the Philippines amid the Duterte administration’s reforms to sustain the country’s high and inclusive growth in the face of current geopolitical headwinds. Both Dominguez and de Leon also stressed that the successful issuance of the euro bonds allowed the government to diversify its funding program to support productive spending for infrastructure and social services. In terms of geographical allocation for the three-year, 600million euro zero-coupon global bonds, 26 percent of the bonds were in the United Kingdom, 16 percent to Asia excluding the Philippines, 14 percent to the United States, 13 percent to Germany, 12 percent to France, 10 percent to other European investors,

5 percent to Italy and 4 percent to the Philippines. By investor type, 68 percent went to asset and fund managers; 22 percent to banks; 4 percent to central banks; pension fund and sovereign wealth funds; 3 percent to insurance; and the remaining 3 percent to private banks and others. On the other hand, the biggest geographical allocation for the nine-year 600-million euro global bonds—with 0.7-percent coupon rate—is in United Kingdom at 31 percent. The balance of the geographical spread: 16 percent in Asia excluding the Philippines; 15 percent to Germany; 13 percent to Italy; 8 percent to other European investors; 6 percent to the Philippines; 6 percent to France; and 5 percent to United States. In terms of investor type, 54 percent went to asset and fund managers; 24 percent to insurance; 18 percent to banks; 3 percent to central banks, pension funds and sovereign wealth funds; and the remaining 1 percent to private banks and others. Finance Undersecretary Mark Joven expressed hope that the country will be able to sustain its momentum and the investors’ confidence for its future offerings. “The republic was really able to capitalize on the strong reception received from a wide range of investors in order to price this landmark transaction,” Joven was quoted as saying in the DOF statement. UBS acted as sole global coordinator, joint lead manager, and joint bookrunner for the transaction. Citi, Credit Suisse, Standard Chartered Bank and UBS acted as joint lead managers and joint bookrunners.

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In the ad material of Notice of filing of application for Alien Employment Permits published on September 13, 2019, the position of Ms. Lin, Liping and Mr. Li, Caiwen under GREAT EMPIRE GAMING AND AMUSEMENT CORP. should have been read as Chef and not as published. In the ad material published on October 19, 2019, the position of Mr. Li, Sishan under NEW WEATHER FORCES GROUP, INC. should have been read as Customer Service Representative â&#x20AC;&#x201C; Mandarin and not as published. In the ad material published on August 8, 2019, the position of Mr. Fan, Yuanchao under MALOG SOLUTIONS, INC. should have been read as Chinese Customer Service Representative and not as published. If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Companies BusinessMirror

www.businessmirror.com.ph

Thursday, January 23, 2020

Arthaland gets SEC nod to sell ₧3-B green bonds By VG Cabuag

@villygc

rthaland Corp., the property development company led by the Po family, said it has secured the permit to sell its P3-billion Asean Green Bonds from the Securities and Exchange Commission (SEC). The company’s Asean Green Bonds, some P2 billion of which is its primary offering and P1 billion is for oversubscription option, carry a coupon rate of 6.3517 percent per annum payable quarterly in arrears and will mature in five years from the February 6, 2020, issue date. However, Arthaland can exercise its early redemption option on the third or fourth year from issue, in which case the

bonds will be redeemed at 101 percent and at 100.5 percent of face value, respectively, the company said. The minimum denomination is P50,000 with increments of P10,000 thereafter. Offer period is during January 22 to 28. “We are very pleased with the overwhelming positive response toward our green projects. With this offer, Arthaland will be the

first, non-bank corporate issuer of SEC-registered Asean Green Bonds in the Philippines. This demonstrates our unwavering commitment to sustainability,” said Arthaland Vice Chairman and President Jaime C. Gonzalez. The said amount is part of the P6-billion green bonds shelf registration that was approved by the SEC late last year. BDO Capital and Investment Cor p. and ING Bank are the joint lead underwriters and joint bookrunners while PNB Capital and Investment Corp. is the colead manager for the offer. The company said it will use the proceeds in accordance with its Green Finance Framework, under which the company can issue debt financing instruments to finance or refinance new or existing eligible green projects. It identified as eligible green projects Arthaland Century Pacific Tower and Savya Financial Center, whose value on the company’s balance sheet supports the issuance of Asean Green Bonds. Arthaland is aiming to grow

its business f ive t imes over t he nex t f ive years to a total development portfolio of 500,000-square-meters worth P60 billion by 2024. Gonzalez earlier said firm continues to be optimistic about the prospects of its business given the growth of the Philippine economy, with the property market now putting premium on sustainable developments. “We wouldn’t be surprised if we exceed the 500,000-squaremeter target as we are getting a lot of offers for joint ventures,” he said. The firm hit P10 billion in reservation sales last year for its three developments currently undergoing construction in Taguig, Cebu and Laguna. This year, the company will expand its green development portfolio with the launch of its flagship high-end green residential condominium in Cebu City, a green luxury residential condominium in Makati CBD, and low and mid-rise upscale apartments in Sevina Park.

Chevron: Deal with state-run firm above board T he Chevron Philippines (CPI) said Wednesday its contract with a state investment firm is not onerous and that it complied with all government requirements. “The Chevron Philippines lease contract with BLCI [Batangas Land Co. Inc.] on the Batangas property was entered into in compliance with all Philippine laws and regulations, and has been beneficial to both the government and CPI,” said CPI manager for policy, government and public affairs Raissa Bautista. “As one of the pioneer energy companies in the Philippines which has been operating here for over a hundred years, our commitment to the Philippine market remains strong. We will maintain open communication with the government, an important and valued partner, on this matter,” Bautista added. The Chevron official issued the pronouncement after the Department of Finance (DOF) said the lease payment of CPI to BLCI, a

subsidiary of the National Development Co. (NDC), is “miniscule” and that the contract between them is “onerous.” Chevron has been paying a monthly rent of P0.74 per square meter for a 120-hectare property in Batangas province, compared to the current “fair market value” of P17.90 per square meter. The DOF said the property should now be valued at over P5 billion. The DOF recommended to shut down BLCI so that government could have full ownership, control, and rights over the land and other real-estate properties occupied by CPI. “These properties should have been turned over to the government as early as the 1970s, not only legally speaking but, more importantly, based on the principle that these properties should truly benefit the Filipino people,” Finance Secretary Carlos Dominguez, an NDC board member, said in a statement. Lenie Lectura

SMC power unit raises SMIC breaks into Bloomberg’s gender equality index $600M for BES projects

onglomerate SM Investments Corp. (SMIC) on Wednesday said it is one of the 325 companies in 50 industries included in this year’s edition of Bloomberg’s Gender Equality Index (GEI). The GEI represents 42 countries and regions and included firms in the Philippines for the first time. “Being included in the 2020 Bloomberg Gender Equality Index is a milestone and an honor for us. We put importance in fostering an inclusive work environment across our businesses, in our supply chain and in the communities we serve. The inaugural inclusion of SMIC indicates our commitment to gender equality through measurement and data transparency,” SMIC President and CEO Frederic DyBuncio said. The GEI tracks the financial performance of public companies committed to supporting gender equality through policy development, representation and transparency. The reference index measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand. This year, Bloomberg expanded the eligibility for inclusion in the index to nearly 6,000 companies across 84 countries and regions. “SM Investments Corp. and 324 other companies included in the 2020 GEI have shown their commitment to transparency and demonstrated leadership in gender-re-

By Lenie Lectura

@llectura

IN this BusinessMirror file photo shows SM Aura Premier building in Taguig.

lated data reporting,” said Peter T. Grauer, chairman of Bloomberg. “Disclosure of company statistics and practices is an important first step in supporting gender equality globally.” Through disclosure of gender-related metrics using the GEI framework, the firms included in the 2020 GEI have provided a comprehensive look at their investment in

workplace gender equality and the communities in which they operate. SMIC was included in this year’s index for scoring at or above a global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across the framework’s five pillars. According to its web site, SM said it is a leading Philippine company that is invested

in market leading businesses in retail, banking and property. It also invests in ventures that can capture the high growth opportunities in the emerging Philippine economy. SM was listed on the Philippine Stock Exchange in 2005. Its assets include blue-chip listed firms SM Prime Holdings, BDO Unibank and China Banking Corp. VG Cabuag

MC Global Power Holdings Corp., the power unit of conglomerate San Miguel Corp., said it has raised $600 million from the issuance of senior perpetual capital securities in Singapore. “We advise that on January 21, 2020, the corporation issued $600,000,000 Senior Perpetual Capital Securities with an initial rate of distribution of 5.70 percent per annum,” the company said. It obtained approval from the Singapore Exchange Securities Trading Ltd. for the listing. The company tapped Credit Suisse Ltd., DBS Bank Ltd., J.P. Morgan Securities, Mizuho Securities Asia Ltd., Standard Chartered Bank and UBS AG Singapore as joint lead managers. The power unit of SMC said early this month that it was raising $500 million to fund its battery energy storage (BES) projects. “The Board of Directors of SMC Global Power Holdings Corp. authorized the issuance of up to $500 million in undated senior perpetual capital securities or such amount as management may later determine, based on prevailing market conditions and as maybe advantageous to the corporation,”

SMC Global Power had said. The amount will be utilized for its planned BES projects and for general corporate purposes, it added. Last year, SMC’s Limay Power Generation Corp. sought the green light to conduct grid impact study for its planned 21 BES projects, each with a capacity of 20 megawatts (MW). A clearance for the conduct of a grid impact study is necessary for a power firm before it can proceed with the construction of its power project. BES can store energy via use of a battery technology for use at a later time. Established in 2008, SMC Global Power Holdings is now one of the largest power companies in the Philippines with a diversified portfolio utilizing a mix of coal, natural gas and hydroelectric power plants. Its total capacity is 2,903 MW representing 22 percent of the Luzon grid and 17 percent of the national grid. These power assets are under Independent Power Producer Administrators Agreements with PSALM, or are under joint-venture agreements and are classified as Independent Power Producers.

Netflix assures investors it is capable of handling onslaught of competitors

etflix Inc. is facing the toughest year in its history in terms of new streaming competition, but the company says it’s ready. With technology and media giants, such as Apple Inc., AT&T Inc., Comcast Corp. and Walt Disney Co., all bringing new video platforms online, Netflix is working to keep customers loyal with a flood of shows and movies. The company plans to boost its spending by 20 percent this year, bringing its programming budget to about $12 billion on a profit-and-loss basis. “We view our big long-term opportunity as big and unchanged,” Chief Executive Officer Reed Hastings said during a pretaped recap of its fourth-quarter earnings, released Tuesday. Netflix climbed as much as 4.3 percent in late trading after delivering generally upbeat results, with overseas growth helping offset a slowdown at home. Though the company

expects to add fewer subscribers in the current quarter than Wall Street Journal projected, it said there’s “ample room for many services to grow.” Netflix investors have been grappling with whether the company’s days of reliable growth are over. The company added fewer customers in 2019 than it did in 2018, and its increase in the United States and Canada decelerated by more than 3 million. In posting the results Tuesday, Netflix said price hikes and a growing array of options have made it harder to attract customers. It’s only going to get tougher. Apple’s TV+ and the Disney+ platform both launched in the US during November, enticing consumers with lower-cost services, while AT&T’s HBO Max and Comcast’s Peacock are both coming online in the next few months. All those competitors are likely to slow customer additions and increase the number

of existing customers who cancel Netflix. Against that backdrop, Netflix posted its weakest year of domestic subscriber growth since it first broke out its online service from the company’s traditional DVD-by-mail business in 2011. Netflix is projecting a gain of 7 million paid subscribers worldwide in the first quarter, short of the 7.82 million estimate. “We are working hard to improve our service to combat these factors,” it said in a letter to shareholders.

Staying the course

But the Los Gatos, California-based company, argues that its strategy is still sound, and competition shouldn’t cause it to change course. Losing popular shows, such as Friends, to its new rivals has had no impact on viewership so far. Netflix subscribers are just finding other shows to watch, Chief Content Officer Ted Sarandos said.

For proof, Netflix can point to its global growth in the latest quarter. The company added 8.76 million customers in the period, compared with forecasts of 7.65 million. Hastings described them as “amazing numbers.” Netflix has pinned its future potential on growth outside the US, where it doesn’t yet face the same level of competition. Europe and Latin America have been the company’s engine in the past couple years, and continued to serve that role in the fourth quarter. Netflix added 4.4 million customers in Europe, bringing its overall total to almost 52 million, and another 2.04 million customers in Latin America.

Non-English shows

Netflix plans to release more than 100 seasons of local language programming next year. Though its biggest global hits are mostly Englishlanguage shows, such as Stranger Things and The

Witcher, its most popular programs in many territories are in other languages, like Spain’s Casa de Papel. The company is also experimenting with different pricing plans in Asia. Netflix has borrowed billions to fund all that programming, and its long-term debt stands at almost $15 billion. But the company said this past year will mark the high water mark in terms of its cash burn. Earnings of $1.30 a share also handily beat analyst estimates of 30 cents, lifted by a tax benefit. Investors weren’t sure what to make of Netflix’s results at first. The shares had dropped as much as 3 percent to $327.97 in extended trading before rebounding. The company’s shares climbed 4.5 percent so far this year before the close. “After several years of unchecked

dominance in the US streaming-video industry, Netflix faces high-profile new streaming rivals,” Geetha Ranganathan, a Bloomberg Intelligence analyst, said in a report. “Yet, the breadth of its content and a compelling value proposition will make it hard for new entrants like Disney+ to unseat the company.” Bloomberg News

Companies BusinessMirror

Thursday, January 23, 2020

PSE STOCK QUOTATIONS

January 22, 2020

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

BDO UNIBANK 152.7 153.5 153.2 154 151.9 153.5 3,045,410 465,820,588 (42,039,316) 81.6 81.75 83.8 83.8 81.05 81.75 5,453,750 445,282,751.5 (1 89,640,879.5) BANK PH ISLANDS 25 25.05 25 25.05 25 25 29,900 747,700 CHINABANK 12.12 12.16 12 12.18 11.9 12.12 245,600 2,946,754 (2,392,280) EAST WEST BANK 64 64.95 63.5 64.95 63.45 64.95 1,958,050 125,357,409.5 ( 47,897,351.5) METROBANK 12.1 12.2 12.1 12.1 12.1 12.1 40,700 492,470 PB BANK PBCOM 20.45 20.5 20.5 20.5 20.5 20.5 10,000 205,000 31.15 31.35 31.2 31.3 31 31.15 470,600 14,660,645 (12,297,455) PHIL NATL BANK PSBANK 58.6 59.15 58.7 59.15 58.25 58.6 11,630 679,508.5 (638,959) PHILTRUST 110 129.6 113.4 113.4 110 110 5,790 638,740 (638,740) RCBC 22.25 22.5 22.35 22.35 22.25 22.25 14,900 331,915 185 186.8 185 187 182.1 186.8 253,490 46,828,891 (21,346,222) SECURITY BANK 58.55 58.7 58.1 58.5 58.1 58.5 16,090 936,636 (317,696) UNION BANK 0.89 0.91 0.89 0.89 0.89 0.89 20,000 17,800 BRIGHT KINDLE 2.87 2.92 3.1 3.14 2.87 2.9 500,000 1,491,360 2,980 BDO LEASING 18.2 18.26 18.2 18.26 18.2 18.26 200 3,646 COL FINANCIAL FERRONOUX HLDG 4.11 4.25 3.89 4.32 3.88 4.29 171,000 692,360 (33,499.9998) IREMIT 1.14 1.18 1.15 1.18 1.12 1.18 117,000 132,760 0.43 0.44 0.48 0.485 0.425 0.44 3,910,000 1,741,900 MEDCO HLDG 0.83 0.88 0.88 0.88 0.83 0.88 87,000 73,540 (10,560) NTL REINSURANCE PHIL STOCK EXCH 173 178 174 179 174 178 10,270 1,827,746 1,586,902 1,851 1,934 1851 1,851 1,851 1,851 10 18,510 SUN LIFE 1.03 1.08 1.03 1.03 1.03 1.03 40,000 41,200 VANTAGE INDUSTRIAL AC ENERGY 2.23 2.24 2.08 2.25 2.05 2.24 7,149,000 15,658,040 (700,510) 1.23 1.26 1.27 1.27 1.27 1.27 1,000 1,270 ALSONS CONS 32.5 32.55 32.5 32.65 32.5 32.55 1,132,600 36,851,310 (30,676,270) ABOITIZ POWER 0.229 0.23 0.227 0.232 0.225 0.23 2,060,000 468,340 BASIC ENERGY 20.75 20.8 20.45 20.8 20.4 20.8 775,100 15,992,060 4,627,375 FIRST GEN FIRST PHIL HLDG 66 66.35 65.8 66.25 65.8 66 57,740 3,804,503 (766,604) MERALCO 286.4 290 276.4 290 276 290 231,760 65,686,428 2,192,586 MANILA WATER 9.86 9.89 9.4 10 9.12 9.86 25,395,900 248,941,495 (49,246,490) PETRON 3.96 3.97 3.95 3.97 3.9 3.97 672,000 2,653,290 (98,470) PHX PETROLEUM 11.8 11.98 11.7 11.98 11.7 11.98 10,100 119,890 (10,578) 31.45 31.5 31.5 32.3 31.35 31.5 410,700 12,953,220 6,683,330 PILIPINAS SHELL 8.78 8.8 8.78 8.78 8.7 8.78 99,700 871,335 2,622 SPC POWER 11.9 12.22 12.26 12.26 12.2 12.22 629,200 7,705,306 (5,178,742) AGRINURTURE 3.5 3.51 2.94 3.5 2.9 3.5 21,305,000 69,956,570(5, 797,650.0003) AXELUM 15 15.48 14.86 15 14.86 15 1,645,100 24,670,016 528,314 CENTURY FOOD DEL MONTE 4.8 5 5.19 5.19 5 5 3,400 17,095 8.78 8.85 8.81 8.99 8.77 8.78 970,900 8,554,234 3,276,479 DNL INDUS EMPERADOR 7.23 7.24 7.22 7.24 7.22 7.23 1,215,700 8,788,807 1,903,142 SMC FOODANDBEV 71.4 71.45 70.75 73.35 70.75 71.45 294,130 21,031,827 3,036,117 ALLIANCE SELECT 0.5 0.51 0.51 0.51 0.49 0.5 2,104,000 1,052,970 2,500 1.69 1.7 1.69 1.76 1.69 1.69 45,697,000 78,382,800 (142,340) FRUITAS HLDG 36.95 37 36.95 37 36.8 36.95 467,900 17,287,510 (598,875) GINEBRA 209 209.2 209.4 215 207.8 209 367,870 77,005,604 (19,267,610) JOLLIBEE 41.85 43 42.5 42.5 42.5 42.5 100 4,250 LIBERTY FLOUR 7.05 7.1 7.09 7.1 7.05 7.1 15,100 106,855 (20,585) MACAY HLDG 10.92 10.96 10.9 11 10.8 10.92 58,000 629,560 (148,514) MAXS GROUP MG HLDG 0.158 0.182 0.175 0.182 0.175 0.182 340,000 60,200 42,000 PEPSI COLA 1.6 1.65 1.6 1.65 1.6 1.6 124,000 198,680 (60,910) SHAKEYS PIZZA 9.51 9.56 9.7 9.7 9.48 9.56 332,300 3,177,340(3, 010,167.9997) ROXAS AND CO 1.76 1.78 1.79 1.82 1.78 1.78 115,000 206,770 5.23 5.3 5.2 5.3 5.2 5.3 5,600 29,670 (29,150) RFM CORP 0.118 0.12 0.115 0.118 0.115 0.118 260,000 30,080 SWIFT FOODS 153.6 154 152.1 154.8 151.2 154 848,290 130,290,253 57,620,241 UNIV ROBINA 1.22 1.23 1.29 1.31 1.22 1.23 16,102,000 20,379,250 (7,500) VITARICH 62.05 64.2 64.2 64.2 64.2 64.2 500 32,100 CONCRETE A 68 70.35 68 68 68 68 50 3,400 CONCRETE B CEMEX HLDG 1.58 1.59 1.56 1.62 1.54 1.59 13,297,000 20,982,950 (7,566,640) DAVINCI CAPITAL 5.46 5.47 5.43 5.46 5.43 5.46 24,300 132,548 13.36 13.6 13.36 13.6 13.32 13.36 8,700 116,788 (46,792) EAGLE CEMENT EEI CORP 8.88 8.98 9.12 9.12 8.8 8.88 77,200 685,652 12.84 12.86 12.86 12.9 12.8 12.86 553,000 7,114,758 2,080,898 HOLCIM 14.78 14.88 15 15 14.58 14.88 2,232,900 32,876,706 (21,413,660) MEGAWIDE 9.64 9.9 9.62 9.95 9.62 9.95 5,100 49,427 PHINMA 1.03 1.05 1.05 1.08 1 1.05 1,102,000 1,161,870 TKC METALS 0.99 1.01 1.03 1.04 0.98 1.01 1,929,000 1,941,370 VULCAN INDL 2.14 2.15 2.17 2.17 2.14 2.15 84,000 181,030 CROWN ASIA EUROMED 1.61 1.69 1.58 1.58 1.58 1.58 5,000 7,900 4.9 4.91 4.88 4.9 4.88 4.9 18,000 88,140 LMG CHEMICALS 4.7 4.75 4.71 4.71 4.7 4.7 196,000 921,330 (846,030) PRYCE CORP CONCEPCION 31.5 32.5 32.1 32.1 31.5 31.5 16,700 526,680 327,300 GREENERGY 1.99 2 2 2.02 1.98 2 4,410,000 8,792,790 4,512,150 INTEGRATED MICR 7.83 7.88 7.83 8.29 7.8 7.88 477,800 3,841,408 (154,914) 1.38 1.4 1.38 1.41 1.37 1.38 1,082,000 1,507,690 131,000 IONICS 4.65 5 5 5 4.99 5 11,300 56,460 PANASONIC 1.4 1.41 1.5 1.56 1.33 1.4 23,140,000 33,955,370 (107,720) SFA SEMICON 11.6 11.7 12.02 12.72 11.2 11.7 13,026,000 156,144,196 132,614 CIRTEK HLDG

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MJC INVESTMENTS METRO PAC INV PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER ZEUS HLDG

0.86 10.66 716 51.15 10.92 2.58 0.81 0.98 1 6.47 6.32 0.206 770 5.11 73.9 5.2 0.49 3.71 9.9 2.56 3.28 1.2 1.17 181 1,022 148 0.81 185 0.232

0.87 10.8 717 52 10.98 2.64 0.82 0.99 1.02 6.53 6.33 0.226 775 5.15 73.95 6.1 0.5 3.72 10.18 2.99 3.3 1.26 1.22 188 1,025 148.2 0.82 204.8 0.239

0.86 10.88 715 51.2 10.9 2.59 0.71 0.97 1.01 6.6 6.22 0.205 790 5.1 73.9 5.2 0.5 3.69 10.5 2.56 3.18 1.2 1.22 180 1049 148.1 0.77 190.5 0.244

0.88 10.88 728.5 52.05 11 2.59 0.83 1.01 1.02 6.6 6.36 0.205 791 5.15 73.95 5.2 0.5 3.72 10.5 2.56 3.3 1.26 1.22 181 1,049 148.8 0.88 190.5 0.245

0.86 10.56 713 50.9 10.9 2.5 0.7 0.97 0.98 6.47 6.22 0.205 766.5 5.1 72.05 5.2 0.49 3.69 9.9 2.56 3.16 1.2 1.22 180 1,011 145.8 0.76 190 0.232

0.87 10.8 717 52 10.92 2.58 0.81 0.99 1.02 6.47 6.32 0.205 770 5.15 73.95 5.2 0.5 3.71 9.9 2.56 3.3 1.26 1.22 181 1,025 148.2 0.82 190 0.239

6,618,000 15,500 366,000 966,440 3,554,700 843,000 13,175,000 798,000 50,000 4,800 10,795,500 30,000 103,070 45,000 353,290 6,100 6,000 176,000 4,250,400 1,000 18,877,000 40,000 1,000 990 172,795 238,780 1,044,000 380 1,770,000

5,763,040 166,524 262,775,170 50,026,679.5 38,844,878 2,146,240 10,525,010 789,390 50,560 31,189 68,206,521 6,150 79,608,085 230,150 ( 26,044,359.5 31,720 2,985 653,670 43,252,594 2,560 61,666,560 48,600 1,220 178,690 176,695,215 35,232,937 870,280 72,252 424,370

(52,800) (34,906,175) (20,788,034) 4,034,458 (370,380) 25,300 7,117 (59,948,465) (36,619,635) 179,149.9999) (1,812,415.5) (627,670) 7,261,916 (15,168,130) (67,994,270) (13,589,943) 94,550

PROPERTY ARTHALAND CORP 0.82 0.83 0.8 0.82 0.8 0.82 1,156,000 940,720 8.75 9 8.75 8.75 8.75 8.75 4,500 39,375 39,375 ANCHOR LAND 39.4 39.7 38.7 40.15 38.25 39.4 34,273,300 1,355,986,395 (222,737,470) AYALA LAND 1.44 1.45 1.4 1.45 1.31 1.45 293,000 408,980 (26,100) ARANETA PROP 1.63 1.64 1.71 1.71 1.6 1.64 2,610,000 4,279,530 (54,089.9999) BELLE CORP A BROWN 0.69 0.72 0.69 0.72 0.69 0.72 7,000 4,950 (1,380) CROWN EQUITIES 0.183 0.187 0.185 0.185 0.185 0.185 580,000 107,300 6.5 6.69 6.69 6.69 6.5 6.69 900 6,002 CEBU HLDG 4.66 4.7 4.72 4.77 4.7 4.7 154,000 727,520 CEB LANDMASTERS 0.52 0.53 0.52 0.53 0.51 0.53 7,105,000 3,720,330 291,800 CENTURY PROP 0.41 0.415 0.41 0.43 0.41 0.415 1,500,000 631,000 CYBER BAY 18.02 18.04 18 18.3 17.9 18.02 1,152,000 20,744,994 (742,184) DOUBLEDRAGON 9.4 9.55 9.4 9.59 9.4 9.45 61,200 583,040 DM WENCESLAO 0.405 0.415 0.41 0.42 0.405 0.41 4,430,000 1,812,500 861,500 EMPIRE EAST 1.5 1.51 1.53 1.53 1.5 1.5 3,157,000 4,738,180 (294,240) FILINVEST LAND GLOBAL ESTATE 1.07 1.08 1.07 1.07 1.07 1.07 226,000 241,820 14.7 14.72 14.72 14.74 14.72 14.72 503,800 7,415,950 8990 HLDG 1.18 1.19 1.21 1.22 1.18 1.18 1,601,000 1,911,650 PHIL INFRADEV 0.75 0.77 0.75 0.75 0.75 0.75 36,000 27,000 CITY AND LAND 4.26 4.27 4.27 4.34 4.24 4.27 22,903,000 97,929,360 4,261,700 MEGAWORLD 0.239 0.24 0.25 0.25 0.239 0.24 23,540,000 5,754,690 587,910 MRC ALLIED 0.395 0.42 0.415 0.42 0.395 0.42 2,720,000 1,091,150 (1,000,000) PHIL ESTATES 2.24 2.25 2.18 2.24 2.16 2.24 199,000 437,620 PRIMEX CORP 27.75 27.85 27 27.9 26.3 27.85 1,170,800 32,188,120 6,400,135 ROBINSONS LAND 0.365 0.37 0.335 0.385 0.335 0.365 79,810,000 26,852,750 (25,537,050) PHIL REALTY 2.07 2.1 2.1 2.1 2.07 2.07 1,007,000 2,084,520 ROCKWELL SHANG PROP 3.19 3.22 3.25 3.25 3.22 3.22 4,000 12,910 2.36 2.45 2.45 2.48 2.36 2.45 620,000 1,501,570 (615,000) STA LUCIA LAND SM PRIME HLDG 40.15 40.2 40 40.8 40 40.2 11,421,900 459,076,800 (89,218,425) VISTAMALLS 5.8 5.85 5.85 5.85 5.6 5.85 23,000 134,072 1.96 1.97 2.01 2.29 1.87 1.97 46,153,000 96,404,690 (6,300) SUNTRUST HOME 7.28 7.29 7.3 7.33 7.26 7.29 9,996,700 72,889,513 (12,220,656) VISTA LAND SERVICES ABS CBN 17 17.16 17.4 17.96 16.78 17.16 659,500 11,480,634 5.35 5.37 5.38 5.38 5.28 5.37 389,800 2,070,862 GMA NETWORK 0.42 0.445 0.44 0.45 0.415 0.45 260,000 110,050 MANILA BULLETIN 1,971 1,973 2008 2,056 1,973 1,973 94,275 188,923,355 6,413,275 GLOBE TELECOM 1,031 1,037 1063 1,074 1,023 1,037 250,220 261,150,575 (2,239,390) PLDT APOLLO GLOBAL 0.046 0.048 0.046 0.049 0.046 0.048 48,700,000 2,313,400 1.65 1.8 1.66 1.66 1.66 1.66 6,000 9,960 IMPERIAL 0.105 0.108 0.103 0.113 0.103 0.105 24,770,000 2,693,030 (93,450) ISLAND INFO ISM COMM 3.72 3.75 3.79 3.8 3.68 3.75 1,864,000 6,972,540 396,830 JACKSTONES 1.78 1.88 1.88 1.88 1.88 1.88 10,000 18,800 2.41 2.42 2.42 2.46 2.4 2.42 989,000 2,390,230 19,140 NOW CORP 0.28 0.285 0.29 0.29 0.28 0.28 2,120,000 600,050 14,250 TRANSPACIFIC BR 2.56 2.59 2.62 2.62 2.55 2.59 728,000 1,872,520 PHILWEB 9.42 9.74 9.5 9.75 9.41 9.42 8,900 84,994 2GO GROUP 18 18.6 18.3 18.6 18.3 18.6 11,300 207,030 192,150 ASIAN TERMINALS CHELSEA 5.2 5.29 5.26 5.3 5.2 5.2 320,100 1,678,162 208,900 CEBU AIR 86 86.2 86 86 84.95 86 179,890 15,377,202 (9,019,960) INTL CONTAINER 131.8 132 131.2 132.6 131.1 131.8 877,070 115,717,639 6,382,987 LBC EXPRESS 12.96 13.88 12.96 12.96 12.96 12.96 2,000 25,920 0.88 0.94 0.91 0.94 0.91 0.94 120,000 110,540 LORENZO SHIPPNG 11.96 12 12.1 12.1 11.8 12 1,990,500 23,823,158 679,310 MACROASIA 0.95 1 0.95 0.96 0.89 0.96 93,000 87,280 METROALLIANCE A 0.99 1 1 1 1 1 2,000 2,000 METROALLIANCE B 7.3 7.39 7.4 7.4 7.3 7.3 11,000 80,886 PAL HLDG 1.48 1.5 1.51 1.53 1.43 1.48 3,591,000 5,323,220 16,560 HARBOR STAR 1.31 1.39 1.31 1.31 1.31 1.31 4,000 5,240 ACESITE HOTEL GRAND PLAZA 9.56 11.9 11.98 12 11.9 11.9 4,600 55,156 0.59 0.61 0.59 0.61 0.57 0.61 1,128,000 663,420 WATERFRONT 890 891 890 890 890 890 310 275,900 FAR EASTERN U 8.1 9.42 9.44 9.44 9.44 9.44 100 944 IPEOPLE 0.6 0.61 0.62 0.62 0.6 0.61 1,450,000 887,230 STI HLDG 2.91 2.92 2.94 3.06 2.9 2.9 514,000 1,515,950 17,520 BERJAYA 10.4 10.42 9.99 10.4 9.96 10.4 13,659,300 137,779,572 28,536,150 BLOOMBERRY 2.13 2.16 2.16 2.16 2.14 2.16 68,000 146,460 (32,320) PACIFIC ONLINE 2.4 2.43 2.4 2.43 2.4 2.43 71,000 170,640 4,840 LEISURE AND RES 4.32 4.7 4.41 4.41 4.3 4.31 47,000 205,330 (4,310) PH RESORTS GRP PREMIUM LEISURE 0.55 0.56 0.56 0.57 0.54 0.55 6,684,000 3,693,600 (265,120) ALLHOME 11.26 11.28 11.3 11.3 11.22 11.28 4,047,400 45,654,016 4,520 METRO RETAIL 2.05 2.06 2.1 2.1 2.03 2.05 935,000 1,921,470 ( 304,880.0003) PUREGOLD 39.2 39.35 39.55 39.65 39.05 39.35 728,700 28,756,275(3, 497,244.9998) ROBINSONS RTL 77.5 78.05 79.2 79.2 77.55 78.05 458,740 35,828,836 (3,364,261.5) 135 135.5 135 135 135 135 10 1,350 PHIL SEVEN CORP 2.54 2.55 2.6 2.61 2.46 2.54 2,130,000 5,430,050 792,470 SSI GROUP 18.6 18.62 18.6 18.62 18.56 18.6 498,500 9,269,748 2,473,118 WILCON DEPOT 0.445 0.45 0.425 0.445 0.42 0.445 2,770,000 1,211,000 APC GROUP 8.68 8.69 8.95 8.95 8.55 8.68 13,800 118,479 EASYCALL GOLDEN BRIA 437 448 430.4 449 430.4 438 32,490 14,298,894 (156,940) PRMIERE HORIZON 0.385 0.39 0.38 0.395 0.37 0.39 6,880,000 2,667,400 (338,850) SBS PHIL CORP 9.04 9.2 9.18 9.2 9.04 9.04 127,900 1,164,856 MINING & OIL ATOK 10.08 10.94 10.94 10.94 10.94 10.94 100 1,094 1.06 1.09 1.1 1.1 1.06 1.09 1,184,000 1,282,410 (330,000) APEX MINING 0.0013 0.0014 0 0.0014 0.0014 0.0014 0.0014 7,000,000 9,800 ABRA MINING 2.5 2.55 2.49 2.5 2.49 2.5 60,000 149,950 (7,470) ATLAS MINING 0.27 0.275 0.27 0.27 0.27 0.27 300,000 81,000 COAL ASIA HLDG CENTURY PEAK 3.18 3.19 3.25 3.25 3.02 3.18 3,673,000 11,644,380 1,364,680 DIZON MINES 7.15 7.16 7.22 7.22 7.16 7.16 300 2,154 1.51 1.53 1.5 1.55 1.46 1.51 3,842,000 5,747,460 (166,020) FERRONICKEL GEOGRACE 0.205 0.214 0.211 0.223 0.204 0.214 2,050,000 431,710 0.094 0.099 0.099 0.099 0.094 0.099 1,020,000 96,030 LEPANTO A 0.1 0.101 0.093 0.101 0.093 0.101 240,000 22,830 (4,840) LEPANTO B 0.0078 0.0086 0 0.0077 0.0077 0.0077 0.0077 4,000,000 30,800 MANILA MINING A 0.8 0.83 0.84 0.86 0.79 0.8 1,233,000 990,090 12,000 MARCVENTURES 1.02 1.04 1.02 1.06 1.02 1.04 70,000 71,970 NIHAO 3.23 3.27 3.3 3.3 3.2 3.23 1,740,000 5,629,740 (2,009,550) NICKEL ASIA OMICO CORP 0.44 0.45 0.44 0.45 0.435 0.45 180,000 79,000 0.72 0.73 0.74 0.74 0.74 0.74 2,000 1,480 ORNTL PENINSULA 2.91 2.92 2.93 2.93 2.9 2.92 261,000 760,540 (529,950) PX MINING SEMIRARA MINING 21.1 21.3 21.45 21.45 20.95 21.1 914,100 19,211,135 1,222,405 ACE ENEXOR 7.9 8.13 7.9 8.17 7.8 8.13 139,100 1,100,006 52,861 0.01 0.011 0.01 0.011 0.01 0.011 22,300,000 238,300 PHILODRILL 8.94 8.95 9 9.06 8.84 8.94 236,500 2,115,989 (321,019) PXP ENERGY PREFFERED HOUSE PREF A 99 100 99.25 99.9 99.25 99.9 26,700 2,651,925 498 507 504 504 496 496 30 15,040 AC PREF B1 100.8 101.9 100.7 100.8 100.7 100.8 320 32,244 CPG PREF A 100.5 100.9 100.3 100.9 100 100.9 69,560 6,983,476 DD PREF 106.1 108.4 106 106 106 106 10 1,060 1,060 FGEN PREF G GTCAP PREF A 970 980 980 980 979 979 20 19,590 99.8 100 100.5 100.5 100 100 19,490 1,949,075 MWIDE PREF 100.1 102 101.5 101.5 101.5 101.5 200,500 20,350,750 50,750 PNX PREF 3A PNX PREF 4 1,026 1,030 1026 1,030 1,026 1,030 110 113,210 1,046 1,060 1049 1,049 1,049 1,049 80 83,920 PCOR PREF 3B 76.9 77 76.95 77 76.9 77 119,290 9,185,122 SMC PREF 2C 75.2 75.5 75.2 75.2 75.2 75.2 59,330 4,461,616 SMC PREF 2D 75 75.5 75 75 75 75 6,580 493,500 SMC PREF 2E 75.9 76 76 76 76 76 133,300 10,130,800 380,000 SMC PREF 2F 75.15 75.3 75.25 75.3 75.25 75.3 19,300 1,452,625 SMC PREF 2G SMC PREF 2H 75.55 75.9 75.55 75.65 75.55 75.65 28,700 2,168,485 75.3 76 76 76.5 76 76.5 203,840 15,591,948 SMC PREF 2I PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

15.8 5.12

15.88 5.14

16.3 5.15

15.7 5.14

15.88 5.14

265,100 183,300

4,232,500 943,240

WARRANTS LR WARRANT 1.21 1.3 - - - - - -

SMALL & MEDIUM ENTERPRISES

ITALPINAS KEPWEALTH XURPAS

3.74 9.33 0.82

3.99 9.68 0.83

3.67 9.45 0.85

4.01 9.73 0.86

3.65 9.33 0.81

3.99 9.33 0.83

686,000 307,100 5,479,000

2,675,340 2,887,286 4,564,010

EXHANGE TRADE FUNDS FIRST METRO ETF

112.4

112.6

112.7

112.8

112.1

112.4

10,740

1,207,892

278,346 (891,840) 1,754,760 21,640 135,140

www.businessmirror.com.ph

Storms’ damage to electric co-ops facilities at ₧1.49B

By Lenie Lectura

@llectura

amage to electric cooperatives’ (ECs) facilities brought about by the recent typhoons reached P1.491 billion, the National Electrification Administration (NEA) said Wednesday. The NEA-Disaster Risk Reduction and Management Department (NEADRRMD) reported that P911.668 million was caused by Typhoon Tisoy (international code name Kammuri) and P579.464-million from Typhoon Ursula (international code name Phanfone). Both storms hit the country in December last year. The NEA-DRRMD said most of

the ECs in calamity-hit provinces are nearing the 100-percent status of reenergization target. It said that around 25,300 households are still experiencing power outage, but this number is expected to drop as more ECs are about to complete all post-typhoon power restoration activities. In areas devastated by Ursula, the

Iloilo III Electric Cooperative Inc. has already reached 97.97 percent of its service reconnection goal, translating to around 90,008 households. “Only 1,869 residential customers under its franchise remain without power.” The Aklan Electric Cooperative Inc. said it has brought electricity services back to 99.60 percent, or 146,039 households as of January 21. Some 591 households are still waiting to have their power restored. The Occidental Mindoro Electric Cooperative, Inc. (OMECO), however, is yet to breach 80 percent. It has so far reconnected 62,774, or 79 percent, of its target households with about 16,674 residential customers still without electricity. With respect to ECs affected by Tisoy, only four nonprofit power distribution utilities have ongoing restoration activities. These are the Albay Electric Cooperative Inc. (Aleco),

Northern Samar Electric Cooperative Inc. (Norsamelco), Sorsogon I Electric Cooperative Inc. (Soreco I) and Ticao Island Electric Cooperative Inc. (Tiselco). Data from the NEA-DRRMD showed that Norsamelco is already 99.79 percent complete with its restoration efforts; Aleco, 98.28-percent; Tiselco at 97.14 percent; and Soreco I at 97.06 percent. The four ECs have 6,168 households combined that remain without power. Of this number, 3,450 households are under Aleco; 1,999 households under Soreco I; 511 households under Tiselco; and 208 households under Norsamelco. “The restoration is actually faster, given the extent of damage from the recent typhoons, the limited resources available both materials and manpower, and the challenges in the restoration, such as the terrain and distance, among others,” said NEA Administrator Edgardo Masongsong.

SC orders foreign firm to pay PHL sailor $62K for work-related ailment By Joel R. San Juan @jrsanjuan1573 HE Supreme Court has upheld the right of seafarers to compel their employers to shoulder their post-employment medical examination. In an 18-page decision penned by Associate Justice Henri Jean Paul Inting, the SC reversed the decisions of the National Labor Relations Commission (NLRC) and the Court of Appeals (CA) which junked the disability claim of seaman Apolinario Zonio Jr. against his recruitment company 88 Aces Maritime Services Inc. (88 Aces) and its foreign principal Khalifa A. Algosaibi Diving and Marine Services Co. (Khalifa Algosaibi). The SC held that Zonio is entitled to permanent disability benefits and sickness allowance, amounting to $62,024, after he developed diabetes caused by his work on board the vessel. Aside from permanent total disability benefits and sickness allowance, the Court also awarded attorney’s fees of 10 percent of the total monetary award to be jointly paid by his recruiter and Khalifa Algosaibi. The Court said Zonio’s duties on board the vessel exposed him to physical, mental, and emotional strain and stress, and that such triggered his diabetes mellitus as proved by the medical records he had presented. The SC pointed out that the respondents had the opportunity to refer Zonio to a company-designated physician after his repatriation, but did not do so. It stressed, “[b]etween the nonexistent medical assessment of the company-designated physician and the medical assessment of Apolinario [Zonio]’s doctor of choice—stating that his disability is permanent and total—the latter evidently stands.” The SC held that while the illness is not listed as one of the occupational diseases under Section 32(A) of the Philippine Overseas Employment Administration (POEA)-Standard Employment Contract (SEC), the ailment is presumed work-related under Section 20(B)(4) of the contract.

The Court blamed his recruitment agency for not granting Zonio’s request for post-employment medical examination, saying that they could have presented a medical finding that would contradict Zonio’s private doctor’s findings. “Having failed to present evidence to defeat the presumption of work-relatedness of Zonio’s diabetes mellitus, the prima facie case that it is work-related prevails,” the SC added. Prior to the controversy, Zonio worked as an “ordinary seaman” on board the vessel MV Algosaibi 42 for a six-month contract with a basic monthly salary of $506.15. He completed the contract in August 2010, but was not repatriated as he directly entered into a new contract with 88 Aces’s foreign principal, Khalifa Algosaibi. His new contract with Khalifa Algosaibi lasted until April 2012, during which he was repatriated in Manila. In 2015, Zonio lodged a complaint before the Labor Arbiter’s office against the respondents for refusing to shoulder his medical expenses on the ground that his repatriation was due to the completion of his contract. He claimed that while on board MV Algosaibi 42 in 2010, he experienced dizziness and was sent to AsSalama Hospital in Al Khobar, Saudi Arabia, where he was told he had high glucose and cholesterol. He was given medicine, and advised to observe proper diet and avoid stress. However, in 2012, his dizziness recurred, this time accompanied by blurring of vision. He returned to the same hospital, and was diagnosed to have diabetes mellitus and dyslipidemia. After he was denied post-employment medical examination by the respondents, Zonio was forced to consult another doctor in 2013 who confirmed that his illness was diabetes mellitus. In 2015, he consulted a municipal health officer from the Municipality of San Jose, who declared him

Phoenix Petroleum wins top honor at 40th Agora Awards

ublicly listed Filipino oil and energy company Phoenix Petroleum has been hailed as the Marketing Company of the Year at the 40th Agora Awards on January 20 at Okada Manila in Parañaque City. Organized by the Philippine Marketing Association, the Agora Awards is considered the most prestigious marketing distinction in the Philippines, which aims to give recognition to Filipino marketing excellence “with an emphasis on ingenuity, versatility and innovation.” “We at Phoenix and Udenna are humbled to receive the Philippines’s highest marketing distinction. And it is especially heartwarming that the Agora shines a spotlight on products and services that have improved the Filipino’s way of life,” Phoenix Petroleum Chairman and President Dennis A. Uy said in his acceptance speech. It is not Uy’s first win at the Agora Awards, as he also received the award for Outstanding Achievement in Entrepreneurship-Large Scale for Phoenix in 2013. “Besides being a fan of marketing and strong brands, I am also a believer in destiny. And in a sense, we were destined to be here tonight: As our vision is to be the indispensable partner in nation-building, driven by passion to improve the

lives of Filipinos,” added Uy. Phoenix is the first petroleum company that was publicly listed on the Philippine Stock Exchange in 2007 since the oil industry’s deregulation in 1998. The company has since expanded from offering fuel and lubricants to liquefied petroleum gas (LPG) and even acquiring Japanese convenience store chain FamilyMart. The Agora Awards cited Phoenix for its marketing innovations in its products, such as Phoenix PULSE Technology Fuels and Phoenix SUPER LPG, as well as its consumer engagement promotions that have led to the brand’s phenomenal growth in the past year. “We are honored to be recognized by Agora with this prestigious award. In the last few years, we have aggressively endeavored to connect with our customers and build a solid relationship with our market. This is also part of our thrust to offer the best customer experience as we transform Phoenix into a multi-industry consumer brand,” said Phoenix Petroleum Chief Operating Officer Henry R. Fadullon. “From a little-known brand several years ago, Phoenix now ranks third in terms of patronage and loyalty, and it is largely because of our best-value offerings complemented by innovative marketing and communication campaigns,” Fadullon added.

to be physically unfit to continue working because of his hyperglycemia. Consequently, he demanded from 88 Aces the payment of his disability benefits, but to no avail. The Labor Arbiter ruled in Apolinario’s favor, prompting 88 Aces to elevate the case

mutual funds

before the NLRC. The NLRC revered the Labor Arbiter’s ruling, prompting Zonio to elevate the case before the CA. The CA, however, affirmed the NLRC’s decision, which led Zonio to file a petition before the SC seeking the reversal of the NLRC and CA decisions.

January 22, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities ALFM Growth Fund, Inc. -a 241.57 -9.47% -1.5% -2.13% -4.1% ATRAM Alpha Opportunity Fund, Inc. -a 1.3035 -11.86% -1.59% -4.74% -5.68% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.3876 -18.12% -5.58% -5.38% -7.9% Climbs Share Capital Equity Investment Fund Corp. -a 0.8488 -11.23% n.a. n.a. -5.38% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8099 -7.57% n.a. n.a. -4.64% First Metro Save and Learn Equity Fund,Inc. -a 5.1051 -8.47% n.a. -2.06% -4.19% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.814 -8.47% -3.95% n.a. -4.64% MBG Equity Investment Fund, Inc. -a 100.95 -17.79% n.a. n.a. -2.3% PAMI Equity Index Fund, Inc. -a 48.9815 -7% 0.78% n.a. -4.48% Philam Strategic Growth Fund, Inc. -a 509.69 -6.89% -0.2% -1.77% -4.33% Philequity Alpha One Fund, Inc. -a,d,8 0.9963 n.a. n.a. n.a. -3.28% Philequity Dividend Yield Fund, Inc. -a 1.2349 -6.82% 0.63% -0.66% -4.04% Philequity Fund, Inc. -a 36.2405 -7% 1.43% -0.73% -4.37% Philequity MSCI Philippine Index Fund, Inc. -a,1 0.9727 -7.45% n.a. n.a. -4.46% Philequity PSE Index Fund Inc. -a 4.9871 -6.2% 1.32% 0.11% -4.53% Philippine Stock Index Fund Corp. -a 832.62 -6.24% 1.24% 0% -4.52% Soldivo Strategic Growth Fund, Inc. -a 0.7873 -13.35% -2.48% -3.88% -7.53% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.9792 -7.43% 0.4% -0.9% -5.46% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9557 - 6.54% 1.11% n.a. -4.51% United Fund, Inc. -a 3.487 -5.5% 2.23% 0.72% -4.55% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 111.6912 -5.92% 1.94% 0.95% -4.5% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.0593 9.29% 6.56% 1.39% 3% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4174 19.33% 10.27% n.a. 2.81% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5236 -11.91% -4.04% -4.93% -2.51% ATRAM Philippine Balanced Fund, Inc. -a 2.1008 -8.57% -2.66% -2.49% -3.68% First Metro Save and Learn Balanced Fund Inc. -a 2.5602 -3.51% 0.83% -2.11% -2.71% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2231 n.a. n.a. n.a. -2.36% Grepalife Balanced Fund Corporation -a N.S. N.S. N.S. N.S. N.S. NCM Mutual Fund of the Phils., Inc. -a 1.9294 1.03% 1.79% 0.29% -1.72% PAMI Horizon Fund, Inc. -a 3.6752 1.35% 0.59% -0.84% -3.01% Philam Fund, Inc. -a 16.4628 0.18% 0.51% -0.86% -2.94% Solidaritas Fund, Inc. -a 2.0818 -3.17% 0.41% 0.12% -2.07% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.7205 -2.3% 0.92% -0.55% -3.71% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 0.9819 n.a. n.a. n.a. -3.33% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 0.9564 n.a. n.a. n.a. -4.01% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 0.9527 n.a. n.a. n.a. -4.08% Sun Life Prosperity Dynamic Fund, Inc. -a 0.9313 -3.4% 0.06% -1.7% -4.46% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03829 8.04% 2.59% 1.87% 0.16% PAMI Asia Balanced Fund, Inc. -a $1.0517 10% 5.02% 1.35% 1.33% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.9879 14.51% 7.9% 4.67% 1.97% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1416 9.97% 4.64% n.a. 1.13% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 358.17 4.03% 2.76% 2.2% 0.1% ATRAM Corporate Bond Fund, Inc. -a 1.9044 2.48% 0.3% -0.74% 0.13% Cocolife Fixed Income Fund, Inc. -a 3.1207 4.69% 5.12% 5.15% 0.14% Ekklesia Mutual Fund Inc. -a 2.218 3.61% 1.95% 1.66% -0.31% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3451 5.51% 1.85% 1.28% -0.59% Grepalife Fixed Income Fund Corp. -a P N.S. N.S. N.S. N.S. N.S. Philam Bond Fund, Inc. -a 4.3323 11.78% 2.03% 1.31% -0.93% Philequity Peso Bond Fund, Inc. -a 3.7662 5.74% 2.63% 0.78% -0.58% Soldivo Bond Fund, Inc. -a 0.9571 5.35% 0.79% -0.18% -0.75% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0417 8.28% 3.72% 1.98% -1.11% Sun Life Prosperity GS Fund, Inc. -a 1.6761 7.22% 3.16% 1.42% -1.47% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $469.51 4.51% 2.69% 2.68% 0.28% ALFM Euro Bond Fund, Inc. -a Є219.8 3.19% 1.68% 1.28% 0.03% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2103 6.75% 2.97% 2.39% 0.26% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 4.02% 1.46% 1.37% 0.39% N.S. Grepalife Dollar Bond Fund Corp. -a N.S. N.S. N.S. N.S. PAMI Global Bond Fund, Inc -a $1.1021 6.29% 1.35% -0.49% 0.63% Philam Dollar Bond Fund, Inc. -a $2.4146 10.1% 3.3% 2.48% 0.45% Philequity Dollar Income Fund Inc. -a $0.060483 5.92% 2.28% 1.84% 0.28% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2043 10.81% 2.78% 2.45% 0.91% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 126.06 3.91% 2.88% 2.2% 0.22% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.0295 n.a. n.a. n.a. 0.31% 1.56% -0.67% Philam Managed Income Fund, Inc. -a 1.2483 5.63% 2.86% Sun Life Prosperity Money Market Fund, Inc. -a 1.2669 3.69% 2.91% 2.4% 0.18% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0383 2.06% n.a. n.a. 0.11% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $1 n.a. n.a. n.a. 1.01% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Launch date is January 3, 2019. 2 - Launch date is January 28, 2019. 3 - Launch date is February 1, 2019. 4 - Launch date is November 15, 2019. 5 - Launch date is September 28, 2019. 6 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 7 - Adjusted due to stock dividend issuance last October 9, 2019. 8 - Launch date is December 09, 2019. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to

see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

SEC orders Peso Tree, Pesoalo, Pinoy Cash Loan to stop operating By VG Cabuag @villygc

HE Securities and Exchange Commission (SEC) has ordered online platforms Peso Tree, Pesoalo and Pinoy Cash Loan to stop offering loans to the public without the necessary licenses. The SEC en banc issued the order on January 21, enjoining the owners, operators, among other persons claiming and acting for and, in their behalf, to immediately cease and desist from engaging in, promoting and facilitating unauthorized lending activities. The SEC also ordered Peso Tree, Pesoalo and Pinoy Cash Loan to cease from offering and advertising their lending business through the Internet, and to delete or remove promotional presentations and offerings from the Internet, including the lending applications they operate. “Considering that the online lending operators are not incorporated entities, and have no certificate of authority to operate as lending companies or financing companies, the lending activities and transaction are illegal and have to be stopped immediately by this Commission,” the order said. “Finally, the Commission cannot turn a blind eye on the fact that the online lending operator’s violation in the instant case was aggravated by the fact that they conducted their business in an unscrupulous manner with evident bad faith, by charging their borrowers unconscionable interest rates, subjecting them to inhumane treatment using abusive and degrading language, and similar

other harassment strategies in order to collect debts. This has to stop immediately.” The Lending Company Regulation Act of 2007 requires a lending company to be established only as a corporation and that it should have an authority to operate from the SEC. Any person who shall engage in the business of lending without a validly subsisting authority to operate from the SEC may face a fine ranging from P10,000 to P50,000, or imprisonment of six months to 10 years or both, under the law. Peso Tree, Pesoalo and Pinoy Cash Loan offered loans to the public through their respective web sites, mobile applications, Facebook pages and other similar online platforms, based on the findings of the Commission’s Corporate Governance and Finance Department, and Enforcement and Investor Protection Department. Certifications by the SEC Company Registration and Monitoring Department also showed that Peso Tree, Pesoalo and Pinoy Cash Loan were not registered as corporations, and that they were not issued the necessary certificate of authority to operate as lending companies. The SEC found the online lending operators are abusive in their collection practices by imposing high-interest rates; onerous, and misleading, terms and conditions; making misrepresentations as to non-collection of charges and fees; and subjecting their debtors to public humiliation, and ridicule, to the extent of violating their right to privacy to ensure prompt and full collection of indebtedness.

How to achieve a 20/20 financial vision The RFP column should have been published last Tuesday, January 14.

ts 2020, and almost everyone has been plotting their New Year’s financial resolution presumably as a step to turn their financial vision into reality, but have you ever thought of asking yourself before engraving these resolutions into your system if these get you any closer to the kind of accomplishments you would want to reach in your lifetime, and the kind of person you want to be known? Did you bother to examine the clarity and feasibility of your vision? Were there any chances that gave you a hint that you might need to step back a little to reexamine yourself, and see if your resolutions are in unison with your vision? Most, if not all of us, are trapped in myopia or clairvoyance. The former makes you vulnerable to failure due to your inability to be agile, or swiftly make changes in your behavior or mentality toward money and life. Two of the classic behavioral biases that exhibit myopia are loss aversion and pessimism bias. The loss aversion is a fear of experiencing losses, hence setting visions that do not have elements of imagination, foresight and intellectual insight, while the Pessimism Bias is an overestimation on the likelihood of bad things to happen. On the other hand, the latter is equally dangerous since it has something to do with overconfidence and illusion of control, or also known as the Dunning-Kruger Effect, which means an egotistical belief that you are better than what you are. This is usually caused due to the absence of the self-awareness of metacognition. Your financial vision is very personal which is why to achieve a 20/20, it starts with self-realization and ends with selfactualization. Hence, you must have a deeper understanding of your past, present and prospect, and use these three as a foundation to help achieve a lucid financial vision that will not only help you to become resilient and tenacious to overcome any forms of financial challenges and behavioral biases as you go along with your financial journey, but to also give you the purpose to keep you on your toes: n Understand your past. While your past does not ultimately define or shape your future, but it does give you the needed foundation to build a clear and achievable financial vision by making a decisive decision of choosing whether to dwell on your past experiences, beliefs, values and culture or transform yourself. What makes a

Earl Pagatpat

personal finance 20/20 vision is when you have already accepted the past, and have moved on to challenge the present and the prospect. It pays to address the question of should I stay as to who I was in the past when dealing with my finances or should I change? n Understand your present. As to how I always perceive the kind of world we are into right now, it is volatile, uncertain, complex and ambiguous, which naturally transforms us to be fast in meeting the immediate demands, sometimes causing our finances to completely go south. Such transformation, if not handled with caution, could undoubtedly derail or lose your identity. Understanding your past enables you to prepare the baseline architecture in creating a 20/20 vision, and an understanding of your present solidifies and finalizes your baseline in preparation for the development of your target architecture (prospect). The critical question for this climactic change is, am I really who I am today? If not, who am I? n Understand your prospect. The life-changing decisions you have made in the past and present brings you closer to the home run. The final step is to make the toughest decision that will ultimately define the future you. This is the stage where you would have to consider important factors, such as your knowledge, skills, abilities, values, beliefs, culture, cost to achieve each goal, time line and resources. Understanding these factors gives you the edge to identify financial visions that are meant to stay as dreams. In essence, the amalgamation of decisions you would have to make from your past, present and prospect would define who you are, what you want to achieve financially, how you are going to achieve it with absolute certainty, who do you want to become and how you would want to be remembered by those aspiring to achieve financial success this 2020.

Earl Pagatpat is a registered financial planner of RFP Philippines. To learn more about personal financial planning, attend the 81st RFP program this January 2020. To inquire, e-mail info@rfp.ph or text <name><e-mail><RFP> at 0917-9689774.

Thursday, January 23, 2020 B3

2020 GDP growth seen at 6.3%, but peso forecast to be weaker

By Bernadette D. Nicolas

@BNicolasBM

HE country’s economic growth is expected to expand by 6.3 percent, but a weaker peso is seen for this year.

According to Ivan Ante, global multi-asset portfolio manager at ATR Asset Management, said the higher economic growth for the year would likely be supported by the timely passage of the 2020 budget, which, in turn, is seen to enable a comeback of government expenditure— a growth driver aside from robust consumption. “Last year, GDP disappointed because government did not spend. But this year, we think that all the unspent budget last year will be spent this year. At the same time, the new budget will be also spent so imagine the growth will be boosted. So

we expect GDP to grow 6.3 percent this year,” he said during the 2020 economic outlook and Peso Global Technology Fund Launch by Insular Life (InLife) in Makati. However, he said they also project that the peso will weaken against the dollar, and will depreciate around 51 to 52 against the greenback. Ante explained why that could be: there is no free lunch when it comes to government spending as the state will need labor, raw materials and capital to complete the projects. “When we import abroad, what do we use? Dollar. We use dollars to buy, so if there’s more demand for dollars

...we sell the peso because we want the dollars to buy the equipment. If there’s less demand for peso and more demand for dollar, that means the peso-dollar exchange rate will depreciate,” he said. He also expects the Bangko Sentral ng Pilipinas will also cut rates again two times this year for about 50 basis points, based on the pronouncements of BSP Governor Benjamin Diokno. He also indicated a bullish outlook for Philippine Stock Exchange index as he sees it hitting 8,600 to 8,800 due to recent concerns, including the Taal Volcano eruption, as well as the government looking into alleged onerous contracts.

New account launched

IN a related development, InLife has added a new account to its fund portfolio called the Peso Global Technology Fund, the first of its kind in the country and in the domestic insurance industry. The global tech fund, set to be available on January 28, seeks to

achieve long-term capital appreciation by investing majority of its assets in a fund whose underlying investment is exposed to equity securities of technology companies throughout the world. “Our world today is dominated by technology, and will continue to be so in the foreseeable future. We believe this is an opportune time to invest in global technology because the sector offers a steady stream of solid growth,” said InLife President and CEO Mona Lisa B. de la Cruz in a statement. InLife’s chief executive explained that while the fund takes advantage of the global market, clients do not need to buy dollars to be able to optin because it is peso-denominated. InLife’s Peso Global Technology Fund is available through InLife’s variable universal life products such as Wealth Assure Global, Wealth Secure Global, Solid Fund Builder, Wealth Protect, Variable Returns Asset and Variable Returns Asset-First Million Fund.

RCBC’s digital agency banking up 500% Y-o-Y

UCHENGCO-LED Rizal Commercial Banking Corp. (RCBC) has registered growth of over 500 percent year-on-year in transaction count and throughput in its ATM Go digital agency banking deployment. The RCBC ATM Go transaction count grew by 564 percent, from 186,000 in 2018 to 1.2 million in 2019; while throughput increased 521 percent, from P542 million to P3.3 billion. Majority of the transactions came from householdbeneficiaries getting their regular cash grants for the government’s Pantawid Pamilyang Pilipino Program (4Ps). “This exponential growth indicates increasing consumer awareness and adoption of digital channels that provide convenience, security and transparency,” said Lito Villanueva, RCBC executive vice president and chief innovation and inclusion officer. RCBC ATM Go is the countr y’s first neighborhood ATM which enables any Bancnet ATM cardholder to w ithdraw cash through rural banks, sari-sari stores, drugstores, cooperatives and microfinance institutions

Rural Bank of Ilog Chairman and RBAP President Titos Abello (left, seated) and RCBC Executive Vice President and Chief Innovations and Inclusion Officer Lito Villanueva (right, seated) sign an agreement to roll out RCBC ATM Go. Looking on are Rural Bank of Ilog President Nanette Abello (left, standing), and RCBC ATM Go Channel Head Aaron Giberson. CONTRIBUTED PHOTO

nationwide. Customers can also deposit cash, do balance inquiry, pay bills, transfer funds and purchase electronic load for smartphones. Recently, RCBC rolled out its ATM Go service at the Rural Bank of Ilog in Kabankalan, Negros Occidental, to enable the rural bank to offer convenient ATM services to its customers in far-flung communities, beyond its five branches in the province.

RCBC also partnered with other members of the Negros Occidental Federation of Rural Bankers to introduce the ATM service to their clients. These include First Community Bank, First State Rural Bank, Rural Bank of Bacolod City, Rural Bank of Cadiz, Rural Bank of Escalante, Rural Bank of Manapla, Marayo Bank, Rural Bank of Sagay, Rural Bank of Silay City and Rural Bank of Talisay.

The RCBC ATM Go rollout is part of the bank’s commitment to promote the Bangko Sentral ng Pilipinas’s (BSP) thrusts on National Retail Payments System and National Strategy for Financial Inclusion. A study of the United Nationsbased Better Than Cash Alliance (BTCA) reported that the volume of e-payments usage in the Philippines grew from 1 percent in 2013 to 10 percent in 2018, while the value of e-payments rose from 8 percent to 20 percent during the same period. “These efforts are aimed at bringing the country closer to our ultimate objective of having an inclusive payment system where no adult Filipino is left behind in terms of access to payment and other basic financial services,” said BSP Governor Benjamin Diokno. The BSP actively promotes the use of e-payments. It launched the EGov Pay facility, which enables online payment of taxes and government fees; and QR PH, which is the country’s QR Code standard that allows convenient person-toperson money transfers. The BSP pursues these initiatives with the payments industry led by the Philippine Payments Management Inc.

Govt lends P225M to Cotabato farmers Loan moratorium for Taal disaster-hit residents eyed By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

AVAO CITY—Government released P225.615 million to small farmers in the rice-producing Cotabato provinces in an interest-free regime to cushion the impact of the drop in low farm-gate prices in the second semester last year. The Department of Agriculture in Region 12 said the loans were taken out from the recently established Expanded Survival and Recovery Assistance (Sure-Aid) program. It said more than 15,000 rice farmers from North Cotabato, South Cotabato, Sultan Kudarat and Sarangani availed of the zero-interest loan. Of this number, more than 8,000 farmers came from North Cotabato and more than 4,000 farmers came from Sultan Kudarat. These two provinces are the region’s leading rice-producing provinces, the department said. According to DA Region 12 Regional Director Milagros C. Casis, the Agricultural Credit Policy Council (ACPC), through the Land Bank of the Philippines, released the P15,000 loan assistance each to 15,041 farmer-borrowers as of December 27 last year. Casis said the region has a total allocation of 20,103 farmer-borrowers, but the agency only received 18,748 applications that were endorsed by the four provincial agriculture offices.

Of 18,748 farmer-applicants, 15,041 already received their loans, she added. The remaining 3,707 farmer-borrowers would receive their loans this month, Casis said. Loans through the Sure-Aid program in the region started in November last year. The Sure Aid program aims to provide loan assistance for immediate relief to rice farmers affected by the initial impact of lower palay prices resulting to the reduction or loss of their farm income, the ACPC posted in its Internet web site. It said the program intends to help rice farmers regain their capacity to continue their production. The target beneficiaries are those who till 1 hectare and below. The DA regional office said these beneficiaries may avail of a one-time, zero-interest loan amounting to P15,000 payable up to eight years. In addition, it said the National Food Authority would buy the produce of rice farmers who were able to benefit from the loan assistance. The Philippine Statistics Authority said the drop in average farm-gate price of dry unhusked rice fell to a six-year low in August, while the average farm-gate price of wet palay went down lower by the third week of September. The DA regional office quoted farmer Emma Aliza Sagim of Sarangani as saying the loan would be used to buy fertilizers and chemicals.

EN. Sherwin T. Gatchalian has calling for the imposition of a one-year moratorium on loan amortizations for residents affected by the Taal Volcano eruption. In a statement, Gatchalian said he has filed last Monday Senate Resolution 289 urging the Government Service Insurance System (GSIS), the Social Security System (SSS) and the Home Development Mutual Fund (Pag-IBIG Fund) to extend calamity, or emergency, loans to and/or impose a one-year moratorium on loan amortizations of members who are residents of the Taal Volcano eruption calamity areas. Gatchalian made this promise to affected residents when he visited Batangas to check the condition of the evacuees and to personally turn over cash assistance to affected towns, while a hazardous explosive eruption might still happen in hours or days. SR 289 also urges local government units (LGUs) to be more lenient to affected businesses on the payment of real-property taxes, renewal of business permits and imposition of penalties.

Simultaneously, it calls on both private and government banks to defer loan payments of affected borrowers. The lawmaker said that the GSIS, SSS and Pag-IBIG Fund have not yet issued a moratorium with a term longer than six months on the loan amortizations of their respective members and/ or pensioners residing in the said calamity areas, nor have these agencies extended calamity assistance or emergency loans to affected members. Records from the Provincial Disaster Risk Reduction and Management Council (PDRRMC) as of January 18 showed that 37,355 families, or 162,728 individuals, were staying in various evacuation centers in the Province of Batangas. By imposing a one-year moratorium on loan amortization and suspending the imposition of penalties by LGUs to calamityaffected business establishments will not only help affected citizens to recover and rebuild, it will also facilitate and reinvigorate the economy of the affected areas, according to Gatchalian.

TheBroa

Business

Thursday, January 23, 2020

Leaders lean on laws liberalizing P By Jovee Marie N. Dela Cruz, Cai U. Ordinario & Elijah Felice E. Rosales

HREE years into the Duterte administration and Manila has yet to significantly improve the ability to lure a critical mass of foreign investors. That remains an enigma as the country’s economic managers have been undertaking key reforms that seek to strengthen the Philippines’s macroeconomic fundamentals and address development constraints. Manila has also crafted measures meant to not only bring down poverty but also narrow the gap between the rich and the poor. Socioeconomic Planning Secretary Ernesto M. Pernia said these measures include the implementation of Republic Act (RA) 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act. According to Pernia, RA 11032 aims to eliminate unnecessary and irrelevant laws and regulations that hamper the provision of public services and programs. Pernia also noted the Seal of Good Governance Act as fostering service improvements and good governance among local government units (LGUs). He said this law also complements RA 11032, demonstrating a whole-of-government approach in ensuring efficiency of public service delivery. Albay Rep. Jose Sarte Salceda also believes the country’s solid macroeconomic fundamentals and efforts make the Philippines one of the most attractive investment destinations in the world. Numbers from a United Nations agency, however, show a different landscape.

Concerns on growth

LATEST data from the Bangko Sentral ng Pilipinas (BSP) showed that Foreign Direct Investment (FDI) inflows in the January to October period contracted 32.8 percent to only $5.8 billion in 2019 from $8.6 billion in the same period of 2018. The BSP was quick to explain that this was largely caused by external factors. “The lower FDI net inflows reflect subdued investor sentiment due to the continued sluggish global economic activity,” a statement by the central bank said. This explanation is not without basis. The US-China trade tiff, concerns surrounding Brexit and the slowdown of growth in Europe, the US-Iran conflict and other external concerns have been cited by economists as major headwinds that will cripple global growth this year. Apart from these, the United Nations Conference on Trade and Development (Unctad) cited another reason for low FDIs. Based on its recent investment policy monitor, the Unctad found that investment destination countries are blocking certain investments due to national security.

Always suspect

THE Unctad said there were at least 20 instances when planned foreign takeovers with a value exceeding $50 million were blocked or withdrawn for national security reasons between 2016 and 2019. The Unctad said these transactions amount to over $162.5 billion. In 2018, the value stood at $150.6 billion, representing 11.6 percent of global FDI flows in that year. The UN agency expressed concern that this will only continue, given that various pieces of legislation being proposed globally aim to expand the “screening scope” of countries when it comes to foreign investments. For economists like Albay’s Representative Salceda, however, countries like the Philippines have

always been suspicious of foreign investment. This has led to foreign restrictions in the country’s Constitution and other mechanisms that prevent foreign involvement in the country’s economy. “Having been occupied [by] so many foreign powers, our mindset has always been suspicious of foreign involvement in our economic and social life,” Salceda said. “Call this some kind of economic isolationism, and it is a mindset we endow with so much importance that we have enshrined foreign direct investment restrictions in our Constitution. We have stuck with 50-year-old restrictions in our laws.”

Investment restrictions

SECTION 10, Article 12 of the 1987 Constitution stated that “Congress shall, upon recommendation of the economic and planning agency, when the national interest dictates, reserve to citizens of the Philippines or to corporations or associations at least sixty per centum of whose capital is owned by such citizens, or such higher percentage as Congress may prescribe, certain areas of investments.” Article 12 of the Constitution also states that the government “shall regulate and exercise authority over foreign investments within its national jurisdiction and in accordance with its national goals and priorities.” These provisions have long been at the center of the debate on increasing FDIs in the country. This has also been cited among the reasons for the failure of the National Economic and Development Authority (Neda) to shorten the country’s Regular Foreign Investment Negative List (RFINL). The Neda is tasked to review and revise the country’s RFINL every two years. The “negative list” contains restrictions on foreign investments and the practice of professions based on the Constitution and Philippine laws. The RFINL contains investment areas and activities where foreign equity participation is limited by mandate of the Constitution and specific laws, under list A. These include, among others, the following: investments in Mass Media, which is under Article 16 of the Constitution; retail trade enterprises with paid up capital of less than $2.5 million, which is stated in the Retail Trade Liberalization Act (RTLA) of 2000; and, utilization of marine resources under Article 12 of the Constitution.

Endorsing amendments

THE RFINL also consists of the following: investment areas and activities where foreign equity participation is limited for reasons of defense, security, risk to public health and morals; and, protection of small- and medium-sized domestic market enterprises. These are placed under list B. These contain, among others, the following: manufacture, repair and storage of firearms, explosives and other ammunitions; products that require clearance from the Department of National Defense (DND); manufacture and distribution of dangerous drugs; and, all forms of gambling except those covered by agreements with Philippine Amusement and Gaming Corp. (Pagcor). The amendment of the list is headed by the Neda Secretariat, as provided for under Section 8 of RA 7042. Also known as the Foreign

Investments Act of 1991, the law states that amendments may be made upon the recommendation of the secretary of national defense or the secretary of health, or the secretary of education, endorsed by the Neda, approved by the President, and promulgated by a Presidential Proclamation. Under the 11th RFINL, the government now allows 100-percent foreign ownership in “internet businesses” which, Neda earlier said, included the following: internet service providers in the provinces; professions that foreigners are allowed to practice subject to reciprocity; and, teaching at higher education level where passing the board or bar is not required.

Liberalizing the economy

FOREIGNERS are also allowed to fully own short-term high-level skills development that does not form part of the hierarchical structure of the formal educational system excluded from educational institutions and wellness centers. However, no foreign participation is allowed in professions such as marine deck and engine officers. Foreign participation in adjustment, lending, and financing companies as well as investment houses have been deleted following RA 10881, or the amended Insurance Code. The government also allowed more foreign ownership in contracts for the construction and repair of locally funded public works and private radio communications network. Pernia said, however, that the latest negative list should be ac-

companied by the passage of laws such as the amended versions of the Retail Trade Liberalization Act (RTLA) and the Public Service Act (PSA) that, he said, would allow foreign investments to surge to $40 billion a year. Pernia earlier said liberalizing the economy would boost the country’s FDIs and the overall health and growth of the Philippine economy. He said Asean countries like Vietnam are open to a lot of foreign investors, allowing even up to 100-percent foreign participation. The passage of laws such as the amendment of the Consumer Act to include e-commerce transactions, as well as the proposed national competition policy, are being seen as efforts to improve the business climate and attract more foreign investments into the country.

Uncertainty

THE uncertainty that these laws would change the FDI landscape brings to mind the poem “Love at First Sight” by Polish poet and Nobel laureate Wislawa Szymborska. If Szymborska is to be asked, certainty is beautiful. But uncertainty is more beautiful still, she argues. In certainty, there’s the routine, the practice, the mechanics to be followed for something to be successful. In uncertainty, however, there’s space for creativity, for originality—even for absurdity—in finding ways on how to get things done. The feeling of uncertainty may arguably be exciting for poets and persons in love; not for persons in business.

In the case of the Philippines, it is uncertainties brought about by changing policies, mostly on taxes, that have been pulling down investment figures. Such was revealed by data from the Philippine Economic Zone Authority (Peza). The Peza has suffered another year of decline in terms of capital inflow. According to official data, investments registered with the Peza last year crashed 16.18 percent to P117.54 billion, from P140.24 billion in 2018.

Jolting reminders

THE year 2019 was the second straight year the investment promotion agency’s haul fell by double digits. In 2018, investments applied in economic zones declined 40.97 percent to P140.24 billion, from P237.57 billion in 2017. Last year’s data also showed a general slowdown in capital poured into the country by domestic firms, and especially foreign investors. Investments from foreigners fell 27.91 percent to P49.25 billion, from P68.32 billion in 2018, while those from locals slipped 5.04 percent to P68.28 billion, from P71.91 billion. Peza Director General Charito B. Plaza explained that the Philippines is facing left and right threats and challenges on doing business. She attributed the drop in investment registrations mainly to the prolonged process of crafting the Corporate Income Tax and Incentives Rationalization Act (Citira) bill. “The Philippines is facing a lot of threats and challenges. First, the

uncertainties brought about by the Citira bill, and then we are facing a lot of disasters now,” Plaza said in an interview with reporters on January 20. “That’s why our appeal, hopefully, [is that] the final version of the Citira will consider the vulnerability of our exporters because they are the most vulnerable to world events and local events. Right now, we are suffering from these disasters,” she added, referring to the volcanic activity of Taal that partly dented economic zone operations in Southern Tagalog.

A menu of incentives

THE Citira bill is the second package of the government’s comprehensive tax reform program. The proposed law aims to reduce corporate income tax (CIT) rate to 20 percent by 2029, from 30 percent at present—the highest when pitted against Southeast Asian economies. However, the measure will also rationalize fiscal incentives granted to firms in economic zones. And this provision, Plaza and her constituents warned, will compel investors to pack up their operations here and relocate to another Southeast Asian country. When passed in its current version, the Citira bill will overhaul the existing menu of incentives that economic zone firms are enjoying. This includes the 5-percent tax on gross income earned (GIE) paid in lieu of all local and national taxes, which investors find crucial for maintaining their businesses in the Philippines. Philippine Ecozones Associa-

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, January 23, 2020

ALEXEY KORNYLYEV | DREAMSTIME.COM

PHL economy to further lure FDIs

tion President Francisco S. Zaldarriaga told the BusinessMirror that the Peza’s investment slowdown is a consequence of the unfinished legislation of the Citira bill. Economic zones can weather any vulnerability, including natural disasters, such as the Taal eruption, but they suffer when there’s a policy uncertainty, he argued. “I personally do not think our vulnerabilities are the real threat. I am more concerned about the Citira, which, if passed, will have negative effects on our investment climate,” Zaldarriaga said in a text message.

Hope floats

AS such, Plaza disclosed that Peza is doing everything to get firms to invest in economic zones in spite of the uncertainties. One of the programs the Peza is focusing on this year is attracting investors to set up shop in the countryside in a bid not only to decongest Metro Manila, but to put up business centers in the rural areas as well. “As far as the Peza is concerned, we are now very aggressive in inviting to the countryside to identify and create economic zones so that we can encourage investors to go to the countryside, especially in areas that are not disasterprone,” the Peza chief explained. “We make the other areas more attractive so that not all of the focus is here in Metro Manila.” President Duterte last year issued Administrative Order (AO) 18 seeking the establishment of more economic zones in the regions. AO 18 bans the putting up of further

economic zones in the nation’s capital to force investors to locate in the countryside. Zaldarriaga, for his part, argued that this policy must be maintained until such time there is enough capital inflow to the regions. He said the problem of congestion in Metro Manila still exists, and it is but necessary to implement AO 18 to address it. “One of the objectives of AO 18 was to decongest Metro Manila. The problem still exists and AO 18 is still a good measure to address this,” Zaldarriaga said.

Jolting reality

THE onus of change falls on the shoulders of leaders like Salceda. “But until we amend investment restrictions, it doesn’t matter. We are attractive but unavailable,” Salceda, chairman of the House Committee on Ways and Means, said. According to the lawmaker, FDIs are primarily motivated by reasonable rates of return. “That means lower operating costs and some level of confidence in the profit margins,” he said. “So far, the Duterte administration has sought to address structural issues that would lower costs and increase productivity for all businesses including foreign investors.” “We have embarked on an ambitious infrastructure program to lower logistics costs,” Salceda added. “We are investing heavily in health and education to make our labor force more productive.” According to Salceda, the House is lowering corporate taxes through the Citira and making do-

ing business easier with key government reforms. “In other words, this government is moving all its levers to boost investment,” he said. “The question of attracting investments, however, becomes almost a moot and academic point in view of our foreign equity ownership restrictions,” Salceda added. “It’s not that we’re not attractive to investors. It’s that we do not allow investment in many areas in the first place.” The lawmaker said among all countries surveyed by the Organisation for Economic Cooperation and Development in 2018, the Philippines is the most restrictive to FDI.

Old laws

SALCEDA said there are key measures that Congress has to pass that contributed to the country’s economic performance. “Underperformance is due primarily to our constitutional restrictions on foreign equity ownership, and our archaic PSA and Foreign Investments Act (FIA),” he said. The 18th Congress intends to correct much of this through amendments to the FIA, PSA and the RTLA. The House also seeks to amend the provisions of the Constitution, particularly Section 2, Section 3, Section 4, Section 7, Section 10, Section 11, of Article XII or the National Patrimony and Economy by inserting the phrase “unless otherwise provided by law.” These amendments seek to relax the restrictive foreign ownership to attract more foreign investments.

“[These proposed] laws will boost labor productivity and competitiveness, encourage knowledge-creation and improve overall business environment,” Salceda said.

Very crucial

IN his recent 2020 report on the Road to A-level credit rating, Salceda said the Citira and other liberalization measures before March 2020 is critical to the success of “Road to A” strategy of the Duterte administration. “The Citira is so pivotal that achieving A-level credit rating by 2022 becomes unlikely without its immediate passage,” he said. With Citira, Salceda said 2020 economic growth could reach 6.8 percent to 7 percent, with the boost provided by the influx of deferred investments alone. “The central reform in this strategy is Citira, an unprecedented public investment in the private sector whose value, considering safe rates of return, could be as high as P1.25 trillion over the next 10 years, whose effect on the gross domestic product could be as high as 1.01 percent above the baseline, and could create as much as 1.5 million jobs over the same period,” he added. While increasing public investment in the broad private sector, Salceda said Citira will also reduce tax expenditures that are not productive, especially tax discounts that were supposed to incentivize pro-economy behavior among investors, but have not been performance-based, time-bound, targeted, or transparent.

Yoke of debt

THE Philippines’s current rating is BBB+, given by Standard & Poor’s in 2019, and a notch away from the A-level. The A-level means that the borrower has a strong capacity to meet its financial commitments. According to Salceda, the passage of key reforms, primarily Citira and the liberalization bills, would help us achieve 38.0 percent debt-to-GDP ratio by end of 2020, 36.8 by 2021, and 35.3 by 2022, surpassing the 35.4-percent target of the government by 0.1 percent. “Our debt-to-GDP targets were based on the assumption that Congress would expedite the passage of reforms critical to the success of our Road to A strategy. The immediate passage of a fiscally sustainable, economically impactful Citira, above all reforms, is now the motherlode of our catch-up strategy. Because economic growth takes time to respond to stimulus, we must pass Citira before March 2020; otherwise we risk limiting our growth for full-year 2020,” he said. “All the liberalization bills— FIA, PSA and RTLA—are now also in advanced stage in the House. The FIA was passed in September 2019. For the reforms to take effect on the economy, the House must finish deliberating on the other two bills by March 2020, and the Senate must pass these bills before the President’s State of the Nation Address for 2020,” he added. “Otherwise, we postpone their economic benefits to 2021, compromising yet again our efforts to reach our debtto-GDP targets.”

“This government is moving all its levers to boost investment. The question of attracting investments, however, becomes almost a moot and academic point in view of our foreign equity ownership restrictions. It’s not that we’re not attractive to investors. It’s that we do not allow investment in many areas in the first place.”—Albay Rep. Jose Sarte Salceda

Thursday, January 23, 2020

The World BusinessMirror

Editor: Angel R. Calso

Global stocks slide on growing concern about new China virus

Cases of new viral respiratory illness increase sharply in China B

Hospital staff stand outside the emergency entrance of Wuhan Medical Treatment Center, where some infected with a new virus are being treated, in Wuhan, China, on Wednesday, January 22. The number of cases of a new coronavirus from Wuhan has risen to over 400 in China, health authorities said. AP/Dake Kang

EIJING—Chinese health authorities urged people in the city of Wuhan to avoid crowds and public gatherings, after warning on Wednesday that a new viral illness that has infected hundreds and caused at least nine deaths could spread further.

T he nu mber of new c a ses has risen shar ply in China, the center of the outbreak. There were 440 confirmed cases as of midnight on Tuesday in 13 jurisdictions, said Li Bin, deputy director of the National Health Commission. Nine people have d ied , a l l i n Hubei prov i nce, since the outbreak emerged in its provincial capital of Wuhan late last month. “There has already been human-to-human transmission and infection of medical workers,” Li said at a news conference with health experts. “Evidence has shown that the disease has been transmitted through the respiratory tract and there is the possibility of viral mutation.” The illness comes from a newly identified type of coronavirus, a family of viruses that can cause the common cold, as well as more serious illnesses such as the SARS outbreak that spread from China to more than a dozen countries in 2002-2003 and killed about 800 people. T ha i land aut hor it ies on

We d n e s d a y c o n f i r m e d f o u r cases, a Thai national and three Chinese visitors. Japan, South Korea, the United States and Taiwan have all reported one case each. A ll of the illnesses were of people from Wuhan or who recently had traveled there. “The situation is under control here,” Thailand Public Health Minister Anutin Charnvirakul told re por ters, say i ng t here are no reports of the infection spreading to others. “We checked all of them: taxi drivers, people who wheeled the wheelchairs for the patients, doctors and nurses who worked around them.” Macao, a former Portuguese colony that is a semiautonomous Chinese city, reported one case on Wednesday. Travel agencies that organize trips to North Korea say the country has banned foreign tourists because of the outbreak. Most tourists to North Korea are either Chinese or travel to the country through neighboring China. North Korea also closed its borders in 2003 during the SARS scare.

Other countries have stepped up screening measures for travelers from China, especially those arriving from Wuhan. Worries have been heightened by the coming of the Lunar New Year holiday rush, when millions of Chinese travel at home and abroad. Officials said it was too early to compare the new virus with SARS or MERS, or Middle East respiratory syndrome, in terms of how lethal it might be. They attributed the spike in new cases to improvements in detection and monitoring. “We are still in the process of learning more about this disease.” Gao Fu, an academician of the Chinese Academy of Sciences and head of the Chinese Center for Disease Control said at the news conference. Gao said officials are working on the assumption that the outbreak resulted from human exposure to wild animals being sold illegally at a food market in Wuhan and that the virus is mutating. Mutations can make the virus spread faster or make people sicker . Jiao Yahui, a health commission official, said “the disease will continue to develop. It has developed different features compared with the early stage, and the prevention and precautionary measures need to change accordingly.” One veteran of the SARS outbreak said that while there are some similarities in the new v ir us—namely its or ig ins in China and the link to animals— the current outbreak appears much milder.

Dr. David Heymann, who headed WHO’s global response to SARS in 2003, said the new virus appears dangerous to older people with other health conditions, but doesn’t look nearly as infectious as SARS. “It looks like it doesn’t transmit through the air very easily and probably transmits through close contact,” he said. “That was not the case with SARS.” Health officials confirmed earlier this week that the disease can be spread between humans after finding two infected people in Guangdong province in southern China who had not been to Wuhan. Fifteen medical workers also tested positive for the virus, the Wuhan Municipal Health Commission has said. Fourteen of them, one doctor and 13 nurses, were infected by a patient who had been hospitalized for neurosurgery but also had the coronavirus. “ This is a ver y profound lesson, which is that there must not be any cracks in our prevention and control,” Wuhan Mayor Zhou X ianwang said about the infections of the medical workers in an inter view with state broadcaster CCT V. The Lunar New Year is a time when many Chinese return to their hometowns to visit family. Li, the health commission official, said that measures were being taken to monitor and detect infected people from Wuhan, and that people should avoid going to the city and people from the city should stay put for now. AP

Huawei CFO’s alleged crimes no crime in Canada–lawyers

ANCOUVER, British Columbia—Lawyers for a senior executive of Chinese tech giant Huawei argued on Tuesday that allowing her extradition to the United States would result in Canada bowing to foreign law. This week’s hearings deal with the question of whether the US charges against Meng Wanzhou are crimes in Canada, as well. Her lawyers argue the case is really about US sanctions against Iran, not a fraud case. Canada does not have similar sanctions on Iran. “Canada doesn’t enforce foreign criminal law,” said Meng’s lawyer, Eric Gottardi. “We simply cannot import that law and have it operate in Canada domestically. It’s contrary to our values.” Canada’s arrest of Huawei’s chief financial officer, the daughter of the company’s founder, in late 2018 infuriated Beijing to the point it detained two Canadians in apparent retaliation. The US accuses Huawei of using a Hong Kong shell company to sell equipment to Iran in violation of US sanctions. It says Meng, 47, committed fraud by misleading the HSBC bank about the company’s business dealings in Iran. Meng, who is free on bail and living in one of the two Vancouver mansions she owns, sat

Huawei Chief Financial Officer Meng Wanzhou arrives at B.C. Supreme Court in Vancouver, Tuesday. Wanzhou is out on bail and remains under partial house arrest after she was detained last year at the behest of American authorities. Darryl Dyck/The Canadian Press via AP

next to the court interpreter. She listened to the proceedings with her head down studying documents. Meng denies the US allegations. Her defense team says comments by President Donald J. Trump suggest the case against her is politically motivated. Prosecutors say that Meng’s case is separate

from the wider China-US trade dispute, but Trump undercut that message weeks after her arrest when he said he would consider intervening in the case if it would help forge a trade deal with Beijing. Huawei represents China’s progress in becoming a technological power and has been a subject of US security concerns for years.

Beijing views Meng’s case as an attempt to contain China’s rise. Huawei is the biggest global supplier of network gear for cell phone and Internet companies. Washington is pressuring other countries to limit use of its technology, warning they could be opening themselves up to surveillance and theft. Arguments will continue throughout the week. The second phase, scheduled for June, will consider defense allegations that Canada Border Services, the Royal Canadian Mounted Police and the FBI violated Meng’s rights while collecting evidence before she was actually arrested. In apparent retaliation for Meng’s arrest, China detained former Canadian diplomat Michael Kovrig and Canadian entrepreneur Michael Spavor. The two men have been denied access to lawyers and family, and are being held in prison cells where the lights are kept on 24 hours a day. China has also placed restrictions on various Canadian exports to China, including canola oil seed and meat. Last January, China also handed a death sentence to a convicted Canadian drug smuggler in a sudden retrial. AP

EI J I NG — Stoc k a nd oi l prices fell on Tuesday as concern about the potential impact of a Chinese disease outbreak increased and a rating agency cut Hong Kong’s credit rating for officia l bor row ing due to political tension. Indexes in London and Frankfurt declined and Shanghai, Tokyo and Hong Kong closed sharply lower after China announced a fourth death from coronavirus. The outbreak, centered on the central Chinese city of Wuhan. Authorities said some infections were transmitted personto-person, increasing the risk the disease might spread faster during the Lunar New Year holiday, the Chinese-speaking world’s busiest travel season. Ot her A si a n gover n ment s stepped up screening of travelers from China, highlighting the potential impact on tourism. That prompted a sell-off in airlines, hotel operators and other travel businesses. The outbreak “is developing into a major potential economic risk to the Asia-Pacific region,” said Rajiv Biswas of IHS Markit in a report. Biswas pointed to the example of the 2003 outbreak of severe acute respiratory syndrome, whose economic impact was felt as far away as Canada and Australia. In Europe, London’s FTSE 100 lost 0.8 percent to 7,588, and Frankfurt’s DAX dipped 0.1 percent to 13,531. France’s CAC 40 was 0.7 percent lower at 6,034. On Wall Street, futures for the benchmark Standard & Poor’s 500 index and Dow Jones Industrial Average were off 0.3 percent and 0.2 percent as markets prepared

to reopen after a three-day holiday weekend. In Asia, the Shanghai Composite Index fell 1 percent to 3,063.56 and Tokyo’s Nikkei 225 retreated 0.9 percent to 23,866.15. Hong Kong’s Hang Seng index sank 2.8 percent to 27,985.33 after Moody’s Investors Service cut its government credit rating by one notch to Aa3 from Aa2. Moody’s cited the lack of “tangible plans” to respond to issues highlighted by si x-month-old anti-government protests and said that may ref lect “weaker inherent institutiona l capacity” than previously thought. The protests began in June over a proposed extradition law and have expanded to include demands for greater democracy in the Chinese territory. Seoul’s Kospi sank 1 percent to 2,2239.69, and Sydney’s S&P ASX 200 lost 0.2 percent to 7,066.30. India’s Sensex was 0.3 percent lower at 41,381.52. Southeast Asian markets also declined. Air China Ltd. lost 3.2 percent and Hong Kong’s Cathay Pacific Airways dropped 4.1 percent. Japan’s ANA Holdings Inc. fell 2.2 percent. Also on Tuesday, the Bank of Japan left its policy rate at -0.1 percent and affirmed its commitment to increase holdings of gover nment bonds. Board members raised their economic growth projection for the year that starts in April to 0.9 percent from 0.7 percent. The European central bank also is due to make an interest rate decision this week. No change is expected though investors will pay attention to the bank’s views on the economy. AP

Palm oil in the crossfire as Mahathir angers India

brewing diplomatic spat between India and Malaysia has got an unusual victim in the crossfire: palm oil. New Delhi abruptly restricted imports of refined palm oils this month, apparently irked by Malaysian Premier Mahathir Mohamad’s comments on steps taken by the administration of Indian Prime Minister Narendra Modi that affect Muslims in India. The South Asian country is the world’s biggest palm buyer and is a major market for Malaysia, the No. 2 producer. While India didn’t publicly say the move was in retaliation to Mahathir’s comments, the Southeast Asian nation counts refined palm oil as an integral part of its economy and any loss in sales will deal a huge blow. If India’s refined imports from the nation drops from about 2.6 million tons a year to reach to 2018 levels, about 2 million tons of Malaysian processed products worth $1.4 billion may need new buyers, said Khor Yu Leng, an independent economist with Segi Enam Advisors, who has published papers on Malaysia’s political economy. Tensions between the two countries began in September when Mahathir told the United Nations that India“invaded and occupied”Kashmir and later criticized India’s citizenship amendment act. His comments made the Modi government uneasy and led to an influential processors’ group in Mumbai asking its members to avoid buying palm oil from Malaysia. The Indian government has also informally told local importers to avoid purchasing crude palm oil from Malaysia, according to traders and industry officials, who asked not to be identified due to the sensitivity of the matter. The spokesman of the commerce ministry was not immediately available for comment. Since then, many Indian palm oil buyers have started shifting to Indonesia amid concerns that Modi’s government may restrict purchases from Malaysia or hike import taxes. Malaysia’s refined palm oil shipments to India surged to about 2.66 million tons last year from 650,000 tons in 2018, while exports of the crude variety dropped to 1.75 million tons from 1.87 million tons, according to Malaysian Palm Oil Board data. Benchmark palm oil prices fell 0.4 percent to 2,875 ringgit a ton on Bursa Malaysia Derivatives by the midday break on Wednesday.

Premiums

The rift may not only hit Malaysia, but also hurt Indian consumers as suppliers from Indonesia have started charging a premium of $15 to $20 per ton over benchmark prices, traders said. Although Malaysia on Friday said it will raise its export duty on crude palm oil to 6 percent in February from 5 percent a month earlier, analysts said it may come under pressure to cut the levy. “If India doesn’t buy from Malaysia, the country has to find other buyers,”said Oscar Tjakra, analyst at Rabobank International in Singapore. “Malaysia may have to change its export duties to remain attractive.” Palm may average at 2,950 ringgit per ton in the first quarter and at 2,750 ringgit in the April-to-June period, Tjakra said. That compares with an average of 2,588 ringgit during the October-to-December quarter. To minimize the blow, Malaysia has started promoting its palm oil in other markets. Primary Industries Minister Teresa Kok said during a recent visit to Pakistan that both the countries were planning to improve trade in palm oil and other commodities. While Malaysia will use diplomatic channels to reach a solution with India, the country is also exploring ways to boost palm oil shipments to central Asia, Africa and the Middle East. Malaysia’s shipments to Pakistan surged more than 80 percent from a month earlier to 74,000 tons during the first 20 days of January, according to cargo surveyor SGS Malaysia Sdn. Exports to India slumped almost 49 percent to 30,500 tons, figures showed.

Indonesia cheering

Meanwhile, rival Indonesia is cheering as it expects higher purchases by India. Indonesia has enough supply to fulfill India’s demand, and the country is hoping to regain its export share in the south Asian nation that was lost after China overtook India in becoming Indonesia’s biggest buyer, said Mukti Sardjono, executive director of the Indonesian Palm Oil Association. “Indonesia is bound to benefit from this but it’s negative for palm oil as a whole,”said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental. “Demand will be hit badly.” Bloomberg News

www.businessmirror.com.ph

The World BusinessMirror

Central banks join to study possible digital currencies

R A NK FURT, Ger ma ny— Major central banks have joined together to explore whether they should issue digital currencies as the use of cash declines and more people turn to electronic forms of paying. The study group is made up of the European Central Bank, the Bank of Japan, the Bank of Canada, the Bank of England, the Swedish Riksbank and the Swiss National Bank. They said in a statement on Tuesday that they will assess the potential case for digital currencies in their home jurisdictions. The Swedish central bank has already studied the issue for several years and has commissioned a pilot project as the use of cash declines in

that countr y. No decision has been made. Existing cryptocurrencies such as bitcoin are not suited for paying for things because they can fluctuate sharply in value. Facebook has backed the Libra project for a so-called stablecoin, a digital currency linked to existing currencies. Several major partners such as Visa, Mastercard, PayPal and eBay have left the association set up to oversee Libra as it faces pushback from regulatory authorities. The group will assess technical issues and share knowledge on emerging technologies. It will be cochaired by Benoit Coeure, a former top ECB official, and Jon Cunliffe, deputy governor of the Bank of England. AP

IMF downgrade of growth outlook increases pressure on India’s Modi

EW DELHI—A decision by the International Monetary Fund (IMF) to downgrade its economic growth forecast for India is adding to pressure on Indian Prime Minister Narendra Modi over his policies. Opposition leaders and economists on Tuesday blasted the government for failing to deliver on promises to reform the economy and keep growth on track. On Monday, the IMF slashed its growth estimate for the current fiscal year to 4.8 percent from 6.1 percent in the last fiscal year. It said India’s slowing growth was the single biggest drag on its global growth forecast in the past two years. Government officials have not yet responded to the downgrade, but have taken various measures to boost growth. The main opposition Congress Party said the Modi’s government had “lost the trust of Indians” and “of the global community when it comes to the economy.” Palaniappan Chidambaram, a former finance minister and senior leader of the Congress Party said the IMF ’s revision was a “reality check ” for Modi ’s government and that even 4.8 percent might ref lect some “window dressing.” The government has not yet responded to the agency’s projections but its ministers have been saying they are taking various measures to bolster growth. Ministry of Finance officials did not immediately respond to a request for comment on how the government plans to respond to the IMF’s downgrade. Just a few years ago, India

was the fastest growing major economy. But that momentum has slowed sharply due to stress in the financial sector, sluggish demand in rural areas and weak activity in lending, the IMF’s chief economist, Gita Gopinath, told New Delhi Television. The economy expanded at a 4.5 percent annual pace in the July-to-September quarter, its slowest rate in si x quar ters. T h at fol lowed severa l m ajor shocks brought on by Modi ’s government, including a massive demonetization in 2016, which caused enormous hardship to millions of people depend ing on a predominant ly cash-based economy, and the introduction of a new goods and ser vices ta x in 2017. Dr. Pronab Sen, a former chief economic adviser and the director of the India program at the London School of Economics’ International Growth Center, said the IMF’s forecast shows the economic downturn is quite real. “This indicates that the current business mood and economic stability in the country are matters of concern,” said Sen. The first advance estimates of the national income released by a government agency earlier this month showed India’s growth may fall to an 11-year low of 5 percent in the current fiscal year, which ends in March, mainly due to weakness in manufacturing and construction. Finance Minister Nirmala Sitharaman is expected to include increased spending on infrastructure and rural areas in a budget due to be presented to the parliament in February. AP

Thursday, January 23, 2020

Senate approves impeachment trial rules, rejecting witnesses

ASHINGTON—The US Senate plunged into President Donald J. Trump’s impeachment trial with Republicans abruptly abandoning plans to cram opening arguments into two days but solidly rejecting Democratic demands for more witnesses to expose what they deem Trump’s “trifecta” of offenses. The daylong session started on Tuesday with the setback for Republican Senate leader Mitch McConnell and the president’s legal team, but it ended near 2 a.m. on Wednesday with Republicans easily approving the rest of the trial rules largely on their terms. T he resu lt is t he Tr u mp’s historic trial, unfolding amid a watchful public in an election year, is now on a fast-track with almost no signs of Republican resistance to the actions that led to his impeachment. “It’s about time we bring this power trip in for a landing,” said White House counsel Pat Cipollone, the president’s lead lawyer, lashing out at the House Democrats prosecuting the case. “It’s a farce,” he said about the impeachment proceeding, “and it should end.” Chief Justice John Roberts gaveled open the session, with House prosecutors on one side, Trump’s team on the other, in the well of the Senate, as senators sat silently at their desks, under oath to do “impartial justice.” No cell phones or other electronics were allowed. As the day stretched deep into the night, lawyerly arguments gave way to more pointedly political ones. Tempers flared and senators paced the chamber. Democrats pursued what may be their only chance to force senators to vote on hearing new testimony. A fter one particularly bitter post-m id night e xc ha nge, Roberts intervened, taking the rare step of admonishing both the Democratic House managers prosecuting the case and the White House counsel to “remember where they are.” “I think it is appropriate at this point for me to admonish both the House managers and the president’s counsel in equal terms to remember that they are

addressing the world’s greatest deliberative body,” the usually reserved Roberts said. He told them that description of the Senate stemmed from a 1905 trial when a senator objected to the word “pettifogging,” because members should “avoid speaking in a manner and using language that is not conducive to civil discourse.” Over and over, Republicans turned back Democratic amendments to subpoena documents from the White House, State Department, Defense Department and budget office. By the same 53-47 party-line, they turned away witnesses with front-row seats to Trump’s actions, including acting White House Chief of Staff Mick Mulvaney and John Bolton, t he for mer n at ion a l security adviser critical of the Ukraine policy. Only on one amendment, to allow more time to file motions, did a single Republican, Sen. Susan Collins of Maine, join Democrats. But it, too, was rejected, 52-48. “It’s not our job to make it easy for you,” Rep. Adam Schiff, the chairman of the House Intelligence Committee leading the prosecution, told the Senate. “Our job is to make it hard to deprive the American people of a fair trial.” As the visitors’ gallery filled earlier with guests, actress-and-activist Alyssa Milano among them, and Trump’s most ardent House allies lining the back rows, the day that began as a debate over rules quickly took on the cadence of a trial proceeding over whether the president’s actions toward Ukraine warranted removal from office. Cipollone led the prosecution, scoffing that the House charges against Trump were “ridiculous,” insisting the president “has done absolutely nothing wrong.”

The White House legal team did not dispute Trump’s actions, when he called Ukraine and asked for a “favor,” which was to investigate Democrat Joe Biden as the US was withholding military aid the ally desperately needed as it faced off with hostile Russia on its border. But the lawyers insisted the president did nothing wrong. “Absolutely no case,” Cipollone said. Schiff, the California Democrat, said America’s Founders added the remedy of impeachment in the Constitution with “precisely this type of conduct in mind—conduct that abuses the power of office for a personal benefit, that undermines our national security, and that invites foreign interference in the democratic process of an election.” Said Schiff: “It is the trifecta of constitutional misconduct justifying impeachment.” T he ot her lead l aw yer on Trump’s team, Jay Sekulow, retorted, “I’ll give you a trifecta,” outlining complaints over the House Democrats’ impeachment inquiry process. The impeachment trial is testing whether Trump’s actions toward Ukraine warrant removal as voters are forming their own verdict on his White House. All four senators who are presidential candidates were off the campaign trail, seated as jurors. “My focus is going to be on impeachment,” Sen. Bernie Sanders, the Vermont independent, told reporters. McConnell stunned senators and delayed the start of proceedings with his decision to back off some of his proposed rules. He made the adjustment after encountering resistance from Republicans during a closed-door lunch meeting. Senators worried about the political optics of “dark of night” sessions that could come from cramming the 24 hours of opening arguments from each side into just two days. Collins and Sen. Lisa Murkowksi of Alaska, who often buck party leadership, along with a substantial number of other Republicans, wanted to make the changes, according to people familiar with the situation. It was only when the clerk started reading the dry language of the resolution that the handwritten changes to extend debate to three days became apparent. It also allowed the House impeach-

ment record to be included in the Senate. The turnaround was a swift lesson as White House wishes run into the reality of the Senate. The White House wanted a session kept to a shorter period to both expedite the trial and shift more of the proceedings into late night, according to a person familiar with the matter but unauthorized to discuss it in public. “READ THE TR ANSCRIPTS!” the president tweeted from overseas, at a global leaders conference in Davos, Switzerland. That’s the transcript of his phone call in which he asked new Ukrainian President Volodymyr Zelenskiy for “a favor.” The Democrats cite that transcript as solid evidence against Trump, though he repeatedly describes it as “perfect.” The House impeached Trump last month on a charge of abuse of power for pushing Ukraine to investigate Democratic rival Biden and his son Hunter Biden as the White House was withholding military aid from Ukraine. Trump also was impeached on a second charge, of obstruction of Congress, in the House probe. Trump’s legal team, absent its TV-showcase attorneys, Alan Dershowitz and Kenneth Starr who were not in the chamber, argued that in seeking new evidence the House was bringing a half-baked case. But Rep. Zoe Lofgren of California, one of the House managers and the first woman to argue for the prosecution in a presidential impeachment trial, said the House wasn’t asking the Senate to do the job for them. “The House is asking the Senate to do its job, to have a trial,” she said. “Have you ever heard of a trial without evidence?’’ T he W h ite Hou se h ad i nstructed officials not to testify in the House inquiry, and refused to turn over witnesses or documents, citing what is says is precedence in defiance of congressional subpoenas. The ambassadors and national security officials who did appear before the House delivered often striking testimony, highlights that were displayed on television screens during the Senate proceeding. At one point, Democrat Schiff displayed video of Trump himself suggesting there should be more witnesses testifying. AP

Changing tack, French strikers turn off power to press govt

A R IS — Opening another front in their battle against the French government, protesting workers cut power to thousands of Parisians on Tuesday, plunging homes into darkness and shutting down trains to one of the capital’s main airports. The deliberate outage lasted around two hours. It hit users in the southern suburbs of Paris, which include the Orly international airport and the massive Rungis market that supplies food to the Paris region. Franck Jouanno, a local leader of the leftist CGT union, said power grid workers targeted the area because it is one of “the economic lungs of Europe.” “It’s symbolic,” Jouanno said of the power cut, speaking in a telephone interview. “It made a buzz and that’s what everyone wants.” The CGT is pushing for a com-

plete withdrawal of the French government’s plans to overhaul the country’s pension system. The planned reforms have triggered six weeks of protests and crippling transport strikes. But with many striking transport workers now returning to work, and train services largely restored in Paris and nationwide, hardcore protesters are looking for other methods to keep up the pressure on President Emmanuel Macron and his centrist government. Jouanno described the Paris households that lost power when families were starting their day as “collateral damage.” “It bothers me, but unfortunately there is always an impact and a power cut isn’t the end of the world,” he told broadcaster BFM-TV. Power was cut to the automated

French President Emmanuel Macron delivers a speech as he visits a plant of British-Swedish pharmaceutical group Astrazeneca in Dunkirk, northern France, on Monday. Macron is hosting 180 international business leaders at the Palace of Versailles in a bid to promote France’s economic attractiveness despite over six weeks of crippling strikes over his government’s planned pension changes. Denis Charlet/Pool Photo via AP

shuttle train that serves Orly airport. The shuttle’s operator, the R ATP, said thousands of users were impacted and that it “firm-

ly condemns this act of malice.” Buses were used to transport passengers instead. Power supplier Enedis said the

cut affected 35,000 of its customers. At the Rungis food market, generators took over and maintained power during the outage. Ju l ien Denor mand ie, a dep ut y m i n i ster, condem ned t he u n ion ac t ion a s “sc a nd a lou s, i r responsible.” Macron, who is trying to blend scores of separate pension systems and rules into a universal French pension, says his plan will be fairer to all French workers and will be sustainable as the country ages. But workers in sectors who can now sometimes retire earlier than the official age of 62 don’t want to lose their special privileges. Some power grid workers can retire as young as 57, Jouanno said. Other workers who can retire before their sixties includes Paris Metro and train drivers, and Paris Op-

era workers. French workers in general don’t want the retirement age raised. The government had proposed raising the eligibility age for full pensions from 62 to 64. But it suspended that plan as it sought to tamp down opposition to the pension overhaul. That government compromise has split union opposition to the reform plan, and union representatives have started squabbling among themselves. On Monday, about 15 union workers from the CGT invaded the Paris headquarters of moderate CFDT union and briefly cut off power in the building. The CGT and other unions have called for more protests on Friday, when Macron’s government will present the pension reform bill to the Cabinet ahead of debate in parliament next month. AP

B8 Thursday, January 23, 2020

Fortune Life celebrates 35 years of heartfelt service

STADA to enter Consumer Brand Market By Stephanie Joy Ching

S inflation rises, so does the price of medicine. With more diseases showing up, affordable healthcare is needed now more than ever. This is what STADA, formerly an acronym for the Standardarzneimittel Deutscher Apotheker (Standard Drugs of German Pharmacists), stands for. For the past twenty-eight years, STADA Philippines has been providing quality yet affordable healthcare to the country through their products. Although STADA is widely known as a generics company, they will soon penetrate the consumer market. “STADA wants to be holistic in terms of its offering to the customer,” said general manager Sharmaine Abarientos, “But now we are venturing into getting into consumer. So that is one of the strategic priorities globally and locally in business.” Early last 2019, STADA Germany acquired the consumer brand Thorton and Ross, which produces pharmaceuticals. They also acquired Glaxosmithkline’s consumer brands middle of the same year. According to Ms. Abarientos, this “started the shift into not just being a generic company but really venturing into the consumer business.” However, this is new territory for

STADA. To make sure that they not only penetrate, but thrive in the market, they needed to revamp the whole organization. “One of the challenges was transforming not just the business but also the organization. And having the people align to that and convince them that this will be good for the company.” she stated. To start, she looked into both the strengths and opportunities STADA had. She saw that “no one really has the knowledge and the skills” to get into the consumer market, so she prioritized building a team that can help them get into the market. “I started building the leadership team to help me carry on the vision we have for STADA” she said, “Very critical is that you are supported by your leadership team in putting that vision into realization. So I hand picked the leadership team. I really have to hand pick people with that specific expertise that will help me and fit in the culture you really want to build.” After assembling the team, Ms. Abarientos then started focusing on “open communication and prioritizing structure within the organization.” This is in line with her objective to grow both the people, and the company. “I really want to take STADA Philippines to greater heights. I want STADA Philippines to be a major player not just in the prescription or pharmaceutical market, but also in the consumer segment.” she said, “I want it to be recognized as a trusted company not just by our external customers but also of our own team, or

General Manager Sharmaine Abarientos

our own employees.” STADA opened over 120 years ago in Dresden, Germany by a group of pharmacists. With its high production volume, STADA was able to establish itself in the European market for its quality yet affordable products. Today, they sell many over-the-counter products and specialty pharmaceuticals in 30 countries worldwide.

Coca-Cola aids Taal relief operations, provides over 40,000 liters of water

FTER the recent significant volcanic activity in Taal Volcano, with affected communities relocated to outside possible danger zones, Coca-Cola immediately mobilized volunteers for relief operations and served as among first responders. Working together with local government units and non-government organizations, the Coca-Cola System have distributed over 40,000 liters of Wilkins water to thousands of families in evacuation centers—among them, the Batangas Provincial Sports

Complex, the Provincial Capitol of Cavite, and in Barangay Kanluran in Sta. Rosa, Laguna. More will be distributed to affected areas in the coming days. Coca-Cola’s facilities in South Luzon— such as Sta. Rosa, Canlubang, and Silangan in Laguna—were also affected by Taal’s unrest, and CCBPI has prioritized the safety and welfare of its personnel. “We here at Coca-Cola Beverages Philippines, Inc., offer our deepest sympathies to the families and communities surrounding Taal as they

weather this calamity,” said Gareth McGeown, CEO of CCBPI. “As we join relevant authorities in monitoring the situation and fervently hope that no further devastation will occur, we are prepared to further provide assistance to all communities in need. We will continue to embody and champion the culture of malasakit.” Going beyond providing beverages, Coca-Cola employees from its Imus bottling plant have also donated 2,000 face masks in coordination with the Christian Commission Fellowship (CFF) and Junior Chamber International (JCI) Foundation Imus and have organized an on-going donation drive for canned goods, blankets, and other necessities of the evacuees. In the face of trying times such as calamities, Coca-Cola has shown not only its commitment to consistently be a part of relief operations but have also become among the first responders in providing immediate aid and care to communities. “We firmly believe that affected residents will get through via the innate strength of the Filipino and our nationwide spirit of bayanihan,” said McGeown. “Their resilience can be further strengthened as long as we all come together to help.”

N celebration of 35 years of heartfelt service to its policyholders, Fortune Life Insurance Company gives back to the community through 35 meaningful activities which focused on corporate social responsibility (CSR) such as fund raising projects, outreach programs, social media contests and sponsorships. Among the accomplished CSR activities were bloodletting in partnership with the Philippine Red Cross; tree planting at La Mesa Nature Reserve; clean-up drive in Masalasa Creek, Tarlac City; Cancer Awareness Program with the assistance of the Cancer Society of the Philippines; participation in the Brigada Eskwela school opening activity; donation of school kits; an animal welfare project through CARA (Compassion and Responsibility for Animals) Welfare Philippines and Fun Run for a Cause in Tagbilaran in coordination with the Armed Forces of the Philippines. With the help of its affiliates in the ALC Group of Companies, Fortune Life was able to organize the following fund raising projects: Block Screening of Disney’s Frozen II, Miniconcert for a cause, Bingo Social, Zumba and Rummage Sale. Beneficiaries of the outreach programs were persons with disabilities at Tahanang Walang Hagdanan in Rizal; Tahanan Outreach Projects and Services (TOPS) which was previously sponsored by the late chairman emeritus and founder, Amb. Antonio L. Cabangon Chua (ALC) and Sisters Servants of the Visitation Convent– Catechist in the South, Las Piñas.

Fortune Life also made significant sponsorships to the following: Mutya Pilipinas 2019, Touch Association Pilipinas, San Isidro Bikers Club, 19th President’s Cup Wack-Wack Golf & Country Club, Ateneo Lex, Julita Senior High School and The Seven Last Words program. Highlight of the year was the Amb. Antonio L. Cabangon Chua Gintong Parangal given to educators, as part of Fortune Life’s Values Advocacy Program with DepEd. To show its gratitude to its policyholders, the company also had a Customer Appreciation Campaign and raffle prizes for walk-in clients during Teacher’s Month. Some of the contests initiated were “Poster Making” by Grade 3 students of Oranbo Elementary School and “Official Hashtag for the 35th anniversary”. Meanwhile, Social Media “Capture Your Future” and “Pay it Forward” Contests increased engagement in Facebook gaining more followers. Other activities were agents’ sportsfest and national sales planning which strengthened the camaraderie among the sales force while employees had fun during the Pamper Day and Makeover by renowned fashion designer Renee Salud. On December 6th, the company began the 35th anniversary celebration with a morning mass officiated by Msgr. Sabino Vengco, Jr. followed by a festive gathering in the evening for the anniversary and Christmas party. Presented were video testimonials of loyal and tenured employees who expressed their appreciation to Fortune Life in helping improve their lives over the years. Other testimonials from the sales managers and policyholders will be released via social media by 2020. To walk down memory lane, the “Memorabilia for the past 35 years” contest was created to choose which team will best showcase how the company progressed over three decades using old photos, documents, clothes, trophies, equipment etc. Out of the five group participants, Fourth Floor Makati team was announced as the winner, bringing home Php30,000 cash prize. Employees were elated to receive their personalized corporate gift and stylish polo shirt embroidered with the company’s 35th anniversary logo during the event. Carrying on his father’s legacy, President D. Arnold A. Cabangon assured that the company will continue to move forward through the joint efforts and hard work of the management and its people.

Leo Rey Yanson re-elected as president, CEO of Mindanao Star Bus Transport, Inc.

Kakaibang sining art exhibit by Arte Autismo Filipino

RTE Autismo Filipino is a group of exceptional Artists with Autism namely Nina Bantoto, Vico Cham, Julyan Harrison, Chico Joaquin, Samantha Kaspar, Daniel Sanchez, Jon Jon De Guzman And Keith Sy. After the successful Fashion For Hope of Fashion Arts Autism Benefit (FAAB) , Autism Hearts Foundation which showcased wardrobes such as gowns, barong, shawls and scarves, hand painted in Pinya held New York last April 2017, the 5 young artists were re organized by their parents with 3 more gifted artists, to pursue entrepreneurship and sustainability . Thus , the birth of Arte Autismo Filipino. Each artist has proven their strength in visual arts and uniquely shines individually . They see the world differently and beautifully which shows in each of their artworks. Every piece is “one of a kind” and surely a masterpiece, only the “eye of an exceptional artist” can create with a beautiful mind!

Last January 16, 2020, we launched our group with KAKAIBANG SINING which was graced by the City Mayor of Pasig, Mayor Vico Sotto, Congressman Roman Romulo, Mrs Shalani Romulo and Dr Francis Dimalanta. The art exhibit aims to further prove their limitless

ideas translated into their masterpieces which will continue to inspire the world ! Exhibit will run until January 26 at La Maison D ‘David. Art gallerie, 2nd floor, Estancia Mall, Capitol Commons, Pasig City! Feast your eyes! Be amazed ! Be inspired ! To God be the Glory !

HE stockholders of Mindanao Star Bus Transport, Inc., sister company of Vallacar Transit Inc., the country’s largest bus transport company, held their annual stockholders’ meeting last Saturday January 18, 2020 where they elected their board of directors, who subsequently re-appointed Leo Rey V. Yanson as the president of the company. Under the Company’s By-Laws, the Annual Stockholders’ Meeting of the company should be held every third Saturday of January at its principal office. Pursuant thereto, the company’s stockholders held its annual stockholders meeting at its principal office at Bulua, Cagayan de Oro. The stockholders elected Leo Rey Yanson, Ginnette Y. Dumancas, Charles M. Dumancas, Arvin John Villaruel and Rey C. Ardo as members of the board of directors. The elected directors shall serve for one

(1) year until January 2021, or until their successors shall have been duly elected and qualified. The meeting was presided over by its Chairman and President Leo Rey Yanson, with Yanson matriarch Olivia V. Yanson as corporate secretary and treasurer. Following the election of the directors, the board held an organizational meeting and re-appointed Leo Rey Yanson as the President and CEO of the company and Yanson matriarch Olivia V. Yanson as treasurer and corporate secretary. The stockholders also ratified the acts of the board of directors of Leo Rey V. Yanson. Mindanao Star Bus Transport Inc. is part of the Yanson Group of Bus Companies which operate all throughout the Philippines including in the cities of Bacolod, Iloilo, Dumaguete, Cebu, Cagayan De Oro, Butuan, Davao, Pagadian, Dipolog, Bohol and Batangas.

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

Sports BusinessMirror

Thursday, January 23, 2020 C1

OSAKA, BARTY, KVITOVA ADVANCE IN AUSSIE OPEN By John Pye

The Associated Press

ELBOURNE, Australia— Defending champion Naomi Osaka threw her racket, tossed a ball and kicked the racket again for good measure, before sitting for a while with a towel over her head. She sensed the crowd was looking for drama, and she gave them a little bit. She pulled it together quickly in a swirling breeze on Margaret Court Arena, though, and beat Zheng Saisai, 6-2, 6-4, to advance to the third round of the Australian Open. On the adjoining show court at about the same time, 2019 runner-up Petra Kvitova held her composure when she faced three set points before winning 13 of the next 15 points to beat Paula Badosa, 7-5, 7-5. Both of last year’s finalists had secured spots in the third round before some of the women hadn’t completed their first-round matches in the singles draw. A backlog created by heavy rain on Day One, caused a further spillover on Day Two. On Day Three, the lineup on the show courts was full of major winners. French Open champion and No. 1-seeded Ash Barty beat Polona Hercog, 6-1, 6-4, in the second match on Rod Laver Arena. Seventime champion Novak Djokovic was playing the next match on Melbourne Park’s center court. Osaka was unimpressed with her performance. “I hope you guys like the tennis that’s coming after my match,” thirdseeded Osaka told the crowd in an on-court interview, “because it wasn’t that pretty.” She had her service broken three times, including the one in the second set that caused a minor tantrum. “I got really fired up when she was up...and people started clapping more,” Osaka said. Asked what the crowd was clapping for, she said: “For the drama. I was complaining here, I was almost throwing my racket over there.” Osaka won back-to-back majors at the US Open in 2018 and Australia last year. She was unable to successfully defend her US title, and is using that as a learning experience here to counteract any nerves. “I got that all out during the US Open. Coming here, I think about it as a new tournament,” she said.

Naomi Osaka sits with a towel over her head during a break in her second-round match which she wins to join Petra Kvitova and Ash Barty in the next round. AP

“The only thing that has changed is maybe people want to beat me more.” One of those is two-time Wimbledon champion Kvitova, who had a comeback run at Melbourne Park last year before losing the final. She said she had a few nerves in the second round, and had some difficulty with the breeze, but was otherwise OK. “So far it’s good. Being in the third round of a Grand Slam [means] the tournament’s not ending,” she said. That’s also a theme for

2018 champion Caroline Wozniacki, who will retire after the tournament. She wiped away tears from her eyes after converting a 7-5, 7-5 victory on her sixth match point against Dayana Yastremska. Because of suspended matches from rain on Monday, eight firstround women’s singles matches were not completed Tuesday. There were several still in progress when Osaka and Kvitova went through. Also advancing to the third round were No. 14-seeded Sofia Kenin, No.

18 Alison Riske, No. 25 Ekaterina Alexandrova and Julia Goerges, who beat 13th-seeded Petra Martic, 4-6, 6-3, 7-5. In first-round matches, 31-yearold Carla Suarez Navarro, a threetime quarterfinalist in Australia, upset 11th-seeded Aryna Sabalenka, 7-6 (6), 7-6 (6), and Taylor Townsend beat fellow American Jessica Pegula, 6-4, 7-6 (5), to move into a secondrounder against No. 30 Anastasia Pavlyuchenkova. In the last of the first-round matches to finish, Elise Martin beat

Danka Kovinic, 6-2, 6-0. Sixth-seeded Stefanos Tsitsipas didn’t even have to go on court to get through the second round, getting a walkover when Philipp Kohlschreiber withdrew from their scheduled match because of a muscle strain. In the only completed men’s match, Sam Querrey beat Ricardas Berankis, 7-6 (2), 4-6, 6-4, 6-4. Wozniacki, meanwhile, has continued her farewell tournament by overcoming a 5-1 first-set deficit and beating Yastremska, 7-5, 7-5, on

her sixth match point in the second round. Wozniacki has said she plans to retire after this Australian Open. The 2018 champion had three match points in the 10th game of the second set but Yastremska held in a game after she’d taken a medical timeout to treat her left leg. Wozniacki eventually clinched it two games later with a service break, and wiped tears from her eyes. Former No. 1-ranked Wozniacki will next play Ons Jabeur, who beat Caroline Garcia, 1-6, 6-2, 6-3.

Electronic sign stealing: A scandal two decades ago in Japan

OKYO—If anyone thought that using technology to steal catchers’ signs had only blemished Major League Baseball (MLB) and the Houston Astros—or it’s something new— think again. Japan went through a similar scandal just over 20 years ago. The Japanese revere baseball as much as Americans and have straddled the same thin line between gamesmanship and cheating. In a widely covered scandal in 1998, a camera in the Fukuoka Dome was discovered to be focused on the catcher. Officials of the Daiei Hawks—now the SoftBank Hawks—reportedly monitored the signs and relayed them by walkietalkie to fans in the stands, who then used signals to batters to indicated the coming pitch. There was no trash-can banging, as the Astros did. Instead, a fan would hold up a megaphone in front of their body to indicate, say, a fastball. Holding it to the right meant curve. On the left was, say, a change up. A Japanese baseball investigation found no wrongdoing by the Hawks, who were managed then by all-time home run leader Sadaharu Oh. He was not directly implicated.

A rule that came into effect at about that time made it illegal to steal signs electronically. “The committee came up with a response that they couldn’t be sure either way,” Marty Kuehnert, an American who is the only foreigner to ever be a general manager of the Japanese professional baseball, told The Associated Press in an interview. “Most believe they were cheating. There were no penalties and nothing was proven—or they said nothing was proven.” Kuehnert has worked in sports in Japan for over 40 years. He was named the Rakuten Eagles GM when the expansion team started play in 2005. He was dismissed during the first season when the team struggled similar “to the 1962 Mets” and lost 11 straight. He’s now an official with the Sendai 89ers basketball team in northern Japan. The Astros’ scandal isn’t receiving much attention in Japan, although it has partially exonerated Japanese pitcher Yu Darvish. Darvish started two games—including the deciding Game Seven— against the Astros in the 2017 World Series. He didn’t get through the second inning in either start and gave up eight earned runs.

An official at Nippon Professional Baseball— the equivalent of MLB—said electronic sign stealing wasn’t a problem in the league. The official, who declined to be identified because he was unauthorized to speak, offered little added information. Kuehnert said he’s no longer dealing with baseball daily, but suspects some skulduggery still goes on. “If there’s any fallout here it would be only with the people who are involved with, perhaps, doing the same thing and make them reconsider what they are doing, or how they are doing it, or how they will continue to do it,” Kuehnert said. He said few were probably surprised at what happened in Houston; sign stealing is as old as baseball. “I think what’s shocking is how archaic the system was of banging on trash cans,” he said. “I mean. it’s almost laughable the way they were doing it.” Japan’s biggest baseball disgrace was the “Black Mist Scandal,” which took place primarily in 1969-70 and saw almost a dozen players banned for fixing games.

And just over four years ago a pitcher with the Yomiuri Giants—Japan’s most popular team— was suspended for betting on games. There was no suspicion he fixed games. In South Korea, the Korean Baseball Organization uses video replay to rule on close calls. But managers cannot use TV monitors to decide to challenge. They must use intuition, not electronic devices. Those dugouts that have TV monitors are supposed to be focused only on watching pitchers get ready in the bullpen. In 2018, the LG Twins were fined 20 million won ($17,250) for posting a sheet of paper on a wall alongside the dugout that listed the Kia Tigers catchers’ signs. KBO officials say the Twins are the only team ever disciplined for sign stealing. The Twins said the sign was meant to help base stealers, not batters. The KBO also fined the Twins Manager Ryu Joong-il and two coaches in 2018 over sign stealing. Tomoya Satozaki, a former catcher in Japan with the Chiba Lotte Marines, said sign stealing was also common in high-school baseball in Japan. The summer national high-school baseball

THEN Fukuoka Daiei Hawks President Hiroshi Murakami (right) and acting owner Tadashi Nakauchi speak to journalists during a press conference on a suspicion of sign stealing at Fukuoka Dome in Fukuoka in December 1998. AP tournament, known as “koshien,” has the same wild popularity as the NCAA’s March Madness and the Final Four. Satozaki said pitchers and catchers are involved in an escalating arms race of making signals more and more complex. “But as technology improves, it’s an endless battle,” he said on his own YouTube channel. “I

think the only solution is to move to a system where there are no physical signs, only audible ones between the manager, catcher and pitchers. The technology is there to allow for this like you have with the quarterbacks in the National Football League, getting instructions from the bench with audio equipment in their helmets.” AP

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C2 Thursday, January 23, 2020

TIGER WILL HAVE TO WAIT S

TIGER WOODS could only be enshrined in golf’s Hall of Fame when he’s 50. He’s turning 45 this month. AP

AN DIEGO—Tiger Woods won’t have to wait until he’s 50 to enter the World Golf Hall of Fame. The Hall of Fame on Tuesday announced changes to the criteria and the selection process, starting with the age limit being reduced from 50 to 45. Players become eligible if they are 45 in the year of the induction ceremony. The next induction is in 2021. Woods turns 45 in January. “We believe these changes will enhance the Hall of Fame in many ways and bring greater attention to the most deserving players, at a time, in their careers when they are still competing at the highest level,” said Greg McLaughlin, the CEO of the World Golf Foundation. Woods is a shoo-in. The criteria include 15 victories on a player’s home tour or two majors. Woods has 82 victories on the Professional Golfers Association (PGA) Tour, along with five on the European Tour and

victories on the Japan Golf Tour, Asian Tour and PGA Tour of Australasia. He also has those 15 majors. Woods figures to have company on the ballot. Also eligible for the 2021 induction class are three-time major champion Padraig Harrington, Jim Furyk, Henrik Stenson and Lee Westwood, and LPGA major champions Liselotte Neumann, Dottie Pepper and Jane Geddes. The Hall of Fame originally had an age limit of 40, which is why Vijay Singh, Ernie Els and Phil Mickelson were inducted years ago. It later was moved to 50. The criteria also allow for anyone three years removed from retirement, always vague for a sport in which no one ever really retires. Also, the Veterans category has been eliminated and Lifetime Achievement is now called “contributor.” Meanwhile, the selection process no longer includes a majority of golf

administrators voting. Ten media members and six Hall of Famers will be part of the nominating committee that narrows the list of candidates to four men, four women and two contributors. Eight media members join seven administrators and four Hall of Famers in the final selection process. No more than four can be part of any induction class, and they must get 75 percent of the vote. Justin Rose, meanwhile, returns to Torrey Pines at No. 8 in the world and looking in both directions. He was No. 1 in the world, at this time, a year ago, and that’s where he wants to return. It’s the other direction—as far down as No. 15 in the world—that has his attention when it comes to the Olympics. Countries are limited to two players, with as many as four only if they all are among the top 15 in the world. Rose, the leading player from Britain, is confident he’ll be in Tokyo to defend his gold medal. But it’s not a given.

Tommy Fleetwood is at No. 10. Paul Casey is No. 18. Matt Fitzpatrick is at No. 24, and a resurgent Lee Westwood moved up to No. 29 with his victory in Abu Dhabi. “Team GB is a really strong team,” Rose said. “For me, the 15 is the key mark. Obviously, I’m trying to look at the world rankings and try to go up. I had a little slip toward the end of last year, but having been No. 1 in the world, hopefully I’m looking north, not south. But 15, is the key number.... You’d be unlucky to be in the top 15, and not go to Tokyo.” That’s the prospect facing Americans, who currently have nine players among the top 15. But it’s early. There are three majors, The Players Championship, two World Golf Championships and two other events that typically dish out big ranking points (Riviera and the Memorial) before the cutoff to qualify. “It would be fantastic if we could field four guys,” Rose said. AP

Ewan gets redemption in Stage 2 Down Under

aleb Ewan of Mitchelton-Scott got redemption for his Stage 1 loss at the Tour Down Under by taking out the uphill Stage 2 sprint on Wednesday in Stirling ahead of teammate Daryl Impey and seizing the overall race lead in the process. Ewan was calm and comfortable as the peloton circled the loop around Stirling the last of three times, then waited for Peter Sagan (Bora-Hansgrohe) to jump in the sprint before launching from his own lead-out and

overtaking the world champion at the line. Impey also slipped past Sagan for second, with Sagan’s teammate Jay McCarthy finishing third. Sagan missed the podium in fourth. Ewan now leads the general classification by 10 seconds over Impey and 12 seconds over Sagan and McCarthy. “I heard on the radio that Greipel had been dropped on the last climb, so I’m happy to be back in ochre,” Ewan said. “It’s just good to get that confidence back after the last few races.”

Ewan lost to Sagan in the People’s Choice Classic and fell to Greipel on Stage 1, but looked strong and confident during the Stage 2 run to Stirling and then on the three 21-kilometer (km) finishing circuits. The stage win and overall lead are huge prizes for Ewan, who wasn’t sure that he’d be in position to contest the sprint after the climb to the finish. “It was something we were all unsure about, whether I’d make it over the top,”

he admitted. “The boys put me in a perfect position again, and this team backed me 100 percent even though some results haven’t went perfect for us. So for them to back me on a stage that doesn’t even suit me, it means a lot.” The 148.6-km stage from Unley to Stirling was contested under stifling conditions with temperatures above 30 degrees. That didn’t deter the escape artists, however, and as soon as the lengthy 14-km neutral roll out was over a group of four slipped away. Cyclingnews

CALEB EWAN beats the favorites in the uphill sprint.

Boxing body looks to change name

AUSANNE, Switzerland—Amateur boxing’s troubled governing body International Boxing Association (Aiba) is considering a name change after it was cut out of organizing the Olympic tournaments this year. Aiba’s Interim President Mohamed Moustahsane said in a statement Tuesday that rebranding is part of a package of reforms he wants national federations to vote on in March. “There is a wish to reform, and a change of the name is also a part of reform. It will be discussed at the next [executive committee] meeting to be presented at the Congress in March,” Moustahsane said in the statement provided by Aiba to The Associated Press via text message. The International Olympic Committee excluded Aiba from the upcoming Tokyo Games because of its severe debts, infighting, and concerns, over the integrity of referees and judges. Being cut off from Olympic revenue has only worsened Aiba’s precarious financial position. The IOC was particularly concerned about Moustahsane’s predecessor as Aiba president, Uzbekistani businessman Gafur Rakhimov, who resigned in July and had been accused by the US Treasury of involvement in drug trafficking. He denies any wrongdoing. Moustahsane says he wants to reach an agreement with Aiba’s main creditors, but didn’t give details. “It’s a heavy heritage, but I am confident that the creditors are fully aware of Aiba’s financial situation,” he said. “Chinese and Azerbaijani companies are our main creditors, the good thing is these countries are deeply involved in the sport, especially in boxing. I am sure that we will reach an agreement for the best interest of the sport.” AP

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Thursday, January 23, 2020 C3

ABAP WARY OF FIELDING BETS TO WUHAN MEET By Ramon Rafael Bonilla

HE national boxing association is apprehensive on sending its athletes to the Olympic Qualification Tournament for AsiaOceania because of the outbreak of a new coronavirus particularly in the tournament host city of Wuhan in China. “The daily reports about the worsening situation have caused very urgent apprehensions among our boxers, officials and the public at large,” an Association of Boxing Alliances of the Philippines letter— signed by its president Ricky Vargas and Secretary General Ed Picson—sent to the International Olympic Committee (IOC) Task Force on Boxing on Tuesday said. “We therefore respectfully urge you to take a closer look at the prevailing developments including reports of human to human transmission and the possibility of moving the country venue and perhaps the dates,” the ABAP letter furthered. The ABAP offered the Philippines to host the event Wuhan is hosting from February 3 to 14. “We are [also] keenly considering hosting the said tournament, should the requirements be feasible. Please let us know,” the letter said. The Philippine Olympic Committee (POC) supported ABAP’s move. “The POC shares the sentiments of ABAP regarding the

situation prevailing in the site of the Boxing Olympic Qualifying event in Wuhan, China,” POC President Abraham Tolentino said. “The outbreak of a mysterious coronavirus strain is alarming and we appeal to the IOC to seriously consider transferring the venue city and the dates of the tournament,” Tolentino added. World champion Nesthy Petecio and silver medalist Eumir Marcial as well as Charly Suarez, Carlo Paalam, Rogen Ladon, James Palicte and Josie Gabuco are the country’s representatives to the Wuhan qualifier. An emergency committee meeting will be held by the World Health Organisation (WHO) on Thursday to discuss the outbreak, which has killed six people and infected almost 300. China’s National Health Commission announced that there were 291 confirmed cases of the pneumonia-like virus, including 77 new cases from yesterday. Having originated in Wuhan, cases have since been reported in other areas of China, as well as further afield in Thailand, South Korea and Japan, which is due to host the Olympic and Paralympic Games later this year. The IOC and the Asian Football Confederation are monitoring the outbreak and its impact on events they are due to hold in Wuhan next month.

KNOX, JAHNS SHARE LEAD J

oe Knox holed out with a birdie on the ninth which Keanu Jahns bogeyed later in a jumbling frontside finish for a key two-shot swing that earned the Englishman a shared view of the top with the Fil-German as the erstwhile leaders faltered and tumbled in a topsyturvy second round of the International Container Terminal Services Inc. (ICTSI) Pradera Verde Classic in Lubao, Pampanga, on Wednesday. Knox, who birdied two of the last three holes to save a first round 71 Tuesday, checked a rollercoaster two-birdie, three-bogey round after 11 holes from No. 10 with three straight birdies from No. 3 but tripped with a second straight bogey on the long 491-yard No. 6 before birdying the par-5 finishing hole, also for the second straight day, to preserve a 70. Despite a bogey on No. 4, Jahns held on to a one-stroke lead he gained on a scorching fourbirdie exploit at the back but misread a 7-foot putt for par at the finish for his own version of a 70, enabling Knox to keep abreast with the former at 141 heading to the last 36 holes of the $100,000 event bracing for a wild, wooly finish. He left after signing his scorecard, which however showed the resiliency in the journeyman from United Kingdom, who battled back from a one-over card with three straight birdies from No. 3 then closed out with a birdie to negate his other bogey on the sixth. Jahns, meanwhile, stayed a bit to assess his wobbly finish then said: “Overall, I played pretty well. The wind was quite strong at the back where I started but I was able to handle my game.” Jhonnel Ababa, who shared the first day honors with Clyde Mondilla, Dutch Guido Van der Valk and Aussie Jack Lane-Weston with 69s, failed to handle his after going four-under overall with a second straight birdie on No. 17 as he bogeyed three of the first seven holes at the front and needed to birdie No. 8 from 8 feet to scramble for a 73.

Blu Girls climb to No. 11 in world rankings

T THE Blu Girls are making their presence felt on the world stage.

Tessa Jazmines tessa4347@gmail.com

PART OF THE GAME

Year of The Rat Games

020 is not just a brand-new year, it’s also a brand-new decade. And if you care for a little bit of astrology, Year of the Rat—which 2020 is—are also the beginning of a brand-new 12-year cycle (the Pig is the last sign of the Chinese zodiac). Which makes 2020 not just a leap year, but a spanking new New Year. Sports-wise, 2020 has a lot of things in store. And it probably will be a significant year for famous athletes who are Rats. Like LeBron James, Carmelo Anthony, Shaquille O’Neill, Jaylen Brown of the Boston Celtics, D’Angelo Russell of the Golden State Warriors, Myles Turner of the Indiana Pacers, and Devin Booker of the Phoenix Suns who are turning 48, 36 or 24 this year. It’s an Olympic Year. And this year’s Summer Olympics which will be held in Tokyo will feature five new sports: baseball/softball, karate, skateboarding, rock climbing and surfing. Every Olympic year new sports are added to both the Summer and Winter Olympics. These year’s additions—in particular, skateboarding, sport climbing and surfing—can be classified as extreme sports and reflect the spirit and taste of the young generation. Karate will feature both Kumite and Kata disciplines in three weight categories. Skateboarding will showcase Park and Street Disciplines where the former will compete on ramps, half pipes, bowls and quarter pipes. Street involves skating on a course that resemble urban features: handrails, benches, stair sets and boxes. In Park, skaters will be judged on speed, height of jumps and grabs. In Street, points will be awarded based on the difficulty of the maneuvers performed. In Rock Climbing the competition will be in three formats: bouldering, lead climbing and speed climbing. The surfing competition will be done on a real beach (Shidshita) and surfers’ maneuvers will be evaluated based on variety, difficulty level and speed, power and flow. The Philippines will also be the site of athletic competition in 2020. The 2020 Asean Para Games—

the companion games of the recently held Southeast Asian Games for para-athletes will be held in March in the same venues where the SEA Games competitions were staged. The 11 Asean nations—Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Timor-Leste, Vietnam and the Philippines—will participate in 16 sports: archery, athletics, badminton, boccia, bowling, chess, cycling, 7-a-side Cerebral Palsy football, goalball, judo, powerlifting, sitting volleyball and swimming, with obstacle racing as a demonstration sport. There are plans to add triathlon, wheelchair tennis and shooting. 2020 is also Ryder Cup Year. The 43rd Ryder Cup will be held in September in Whistling Straits, Haven Wisconsin with Team Europe captained by Pádraig Harrington and Team USA captained by Steve Stricker. First Vice Captains are Robert Karlsson for Europe and Jim Furyk for the US. The Ryder Cup first took place in 1927 in Worcester, Massachussetts, originally as a competition between Great Britain and the United States. English businessman Samuel Ryder donated the trophy and thus earned the players’ esteem enough for the biennial meet to be named after him. Eventually, the British side was expanded to include other European golfers, including the Spanish Seve Ballesteros and Antonio Garrido in the 70s. Thus far, the European team holds the edge over their US counterparts 11 championships to eight, with one tie. What else will the year 2020 bring? Kobe Bryant, Kevin Garnett, Tim Duncan and Chris Bosh may find themselves being the newest inductees into the Naismith Memorial Basketball Hall of Fame. The quartet have 13 NBA titles, four regular Season MVP awards, five NBA Finals MVP awards and 59 All-Star Game appearances between them. Shawn Marion, Buck Williams, Mark Eaton and Michael Finley have also been nominated. “Old standards” Tim Hardaway, Rip Hamilton, Chris Webber and Ben Wallace have been nominated before but need more votes to get in. The final picks will be announced in April at the NCAA Final Four championship in Atlanta. Here’s wishing all of you happiness and prosperity in the Year of the Golden Rat!

HE Cebuana Lhuillier-backed Blu Girls are now 11th in the world in the World Baseball Softball Confederation (WBSC) rankings. Longtime softball patron and Amateur Softball Association of the Philippines (ASAPHIL) President Jean Henri Lhuillier expressed elation over the team’s achievement. “This is what we have been working hard for, and our dedication and love for the sport that we play are now bearing fruit,” Lhuillier said. “I’m very proud of the team and I hope that more Filipinos continue to show support for the mighty Blu Girls, especially for 2020.” The national women’s softball team improved two places with the Czech Republic and Great Britain trailing the squad. The WBSC has been ranking countries since 2016. The federation gives weight to the performance of national teams in WBSC-sanctioned competitions within a four-year period. “This is just the beginning of more milestones for the team, more great things are in store for the Blu Girls,” added Lhuillier who is also the president and CEO of Cebuana Lhuillier. The top 6 nations spots remained unchanged with USA taking the top spot closely followed by Japan, Canada, Puerto Rico, Mexico and Chinese Taipei. China is now seventh and Australia eighth, while the Netherlands took the ninth spot and Italy went down to 10th place. The Blu Girls are No. 4 in Asia behind Japan, Chinese Taipei and China.

Mighty vs UAE nationals

ighty Sports gets to test its vaunted lineup against the United Arab Emirates national team on Thursday in the Dubai International Basketball Tournament. Set at 7 p.m. (11 p.m. Manila time), the country’s representatives take on the UAE squad before an expected mammoth crowd of home fans and overseas Filipino workers. Bracketed in Group B, Mighty Sports will face Al Ittihad of Allepo on Friday before taking a one-day breather the following day. Mighty Sports will try to improve on its third-place finish last year when it had Justine Brownlee and Lamar Odom as reinforcements. Naturalized Filipino Andray Blatche and Renaldo Balkman are reinforcing the team this time. “We have a solid crew and we are confident of our chances,” Coach Charles Tiu said. “Our local players are some of the best from college while Andray and Balkman are expected to provide huge help for the team,” he added. The team is also composed of collegiate stars Thirdy Ravena, Dave Ildefonso, Jamie Malonzo, Juan and Javi Gomez de Liaño and Isaac Go. Ramon Rafael Bonilla

“The wind blew hard at the front [his backside],” rued Ababa, who vowed to strike back in the last two days with an attacking game as he steps up his drive for a record third straight championship in the event put up by ICTSI and organized by Pilipinas Golf Tournaments Inc. with PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High as chief backers. He slipped to joint third at 142 with a hotcharging Ira Alido, a steady Rupert Zaragosa and a defiant Lane-Weston, who blew a three-birdie binge after four holes at the back with three bogeys in the next four then closed out his frontside with a 37 also for a 73. Alido, due for a breakthrough after a number of top 5 finishes last year, fought back from a 73 start with a solid backside 33 and went four-under in a punishing day with another birdie on No. 5. But like the rest of the bidders in the penultimate leg of the third second of the Philippine Golf Tour Asia, the 19-year-old former amateur hotshot bogeyed No. 8 and settled for a 69, while Zaragosa continued to defy the length, the bunkers and the undulating surface of Pradera with superb iron play and putting, producing a two-birdie, one-bogey round for a second 71 on a course that looked there for the taking for the long hitters but proved to be a virtual horror chamber for majority of the field for its length, bunkers and sleek putting surface. “It’s like night and day, you get a good score at the back but you struggle at the front,” rued Jahns, whose shaky finish nevertheless gave the 24-year-old shotmaker another crack at a maiden win in seven years in the tour after a couple of runner-up finishes in Davao and at The Country Club Invitational last year. “I’ll just seize the moment tomorrow [today], enjoy the game and make the most of my birdie chances,” he said. A slew of others also stayed in the hunt, ensuring a spirited battle of wits in the last 36

holes with Marcos Pastor of Spain, Japanese Kei Matsuoka, and Filipino Dino Villanueva pooling identical 143s after 70, 71 and 73, respectively. Mondilla and van der Valk succumbed to the frontside riddle as the former limped with a 39 marred by a double-bogey on No. 5 and the latter tumbling down with a doublebogey on No. 2 and a triplebogey on the fifth, as they both finished with 75s to fall to the 144 group that includes obscure Rico Depilo and Ryan Bonaobra, who shot 70 and 73, respectively, and Tony Lascuña, who built some kind of momentum for the crucial third round with closing back-toback birdies at the back for a 71.

Joe Knox and Keanu Jahns are ahead at the Pradera Verde Classic. ROY DOMINGO

Sports BusinessMirror

C4 Thursday, January 23, 2020

Editor: Jun Lomibao • mirror_sports@yahoo.com.ph

MAGIC ON STERN: HE’S MY ANGEL Magic Johnson tearfully recalled Stern’s firm support after the Hall of Fame player learned he had HIV, and how it was former National Basketball Association Commissioner David Stern allowing him to play in the 1992 All-Star Game despite some players’ fears that kept his spirits up during the darkest time of his life.

By Brian Mahoney The Associated Press

EW YORK—David Stern was remembered Tuesday as a mentor and a leader, a Little League parent and a loyal friend. To Magic Johnson, he was an

angel. Johnson tearfully recalled Stern’s firm support after the Hall of Fame player learned he had HIV, and how it was the former National Basketball Association (NBA) commissioner allowing him to play in the 1992 All-Star Game despite some players’ fears that kept his spirits up during the darkest time of his life. “That game saved my life,” Johnson said. Johnson was one of the speakers at a memorial service for Stern, who died January 1 at age 77 after suffering a brain hemorrhage a few weeks earlier. Radio City Music Hall was filled with what Commissioner Adam Silver called one of the greatest collections of basketball talent in one location, from mighty big men Bill Russell and Yao Ming to dazzling distributors such as Johnson and Isiah Thomas. They listened to stories hailing Stern not only for his brilliance as a businessman, but for his commitment to social responsibility and his love of his family. Speakers, ranging from colleagues in the league to friends from before he arrived there, talked of how Stern would help people arrange doctor’s appointments and score All-Star tickets, and how he loved to offer his assistance—especially, Silver noted, when it hadn’t been asked. Stern spent 30 years as commissioner, the league’s longest-serving leader, and Silver noted that few people in the room would have had

MAGIC JOHNSON says David Stern would constantly check up on him to make sure he was healthy, and ask Johnson’s wife if he is eating right.

the opportunities they did in life without Stern, whose longtime office at NBA headquarters was just a block away. “He belongs on this big stage,” Silver said. “He changed the world.” The two-and-a-half-hour ceremony began with Silver and ended with remarks by Stern’s two sons. Eric Stern revealed his father’s love of crude jokes, while older brother Andrew recalled how Stern refused to part with his woodpaneled station wagon, even long after he could afford BMWs. They both noted Stern’s desire to be at their events, even if long hours at the office meant he had to miss the beginning. Of course, not everybody saw that side of Stern. Few escaped a foul-mouthed tirade if they didn’t meet Stern’s high expectations, and Pat Riley got tongue

lashings and fines for criticizing referees, saying Stern would constantly tell him he needed to be better. Making things better was a mission of Stern’s. The more the NBA grew and the further its reach expanded, the more that Stern insisted it increase its commitment to help others. Pictures and videos shown before the speakers seemingly depicted as much footage of NBA Cares events as of basketball events, with Stern helping to build houses or read with children in libraries. “Shame on us, he would say, if we don’t do all we can with the platform we have,” said Kathy Behrens, the NBA’s president of social responsibility and player programs. Stern began at the NBA at a time when the league was fighting for attention, plagued by drug problems in the 1970s and struggling to

Leonard scores 36, Shamet nails clutch 3s in Clippers’ win vs. Mavs D

ALLAS—Kawhi Leonard scored 36 points, Landry Shamet hit two clutch 3-pointers late and the Los Angeles Clippers beat the Dallas Mavericks, 110-107, Tuesday night for their fourth straight win. Dallas ended a four-game winning streak, and more important, lost a key piece in center Dwight Powell just as they welcomed back Kristaps Porzingis. Porzingis scored 10 points on 4-for-17 shooting in his return after missing 10 games

with right knee soreness. Late in the first quarter, Powell went down on a non-contact play with a right Achilles tendon injury. Luka Doncic had 36 points, 10 rebounds and nine assists for Dallas. He scored 24 points in the second half to help rally the Mavericks after they trailed by double digits from late in the second quarter through most of the third. A see-saw fourth quarter turned on Shamet’s three from the left wing to give

Los Angeles a 100-98 lead with 2:48 to play. Montrezl Harrell added two free throws, then Shamet sank another three from straight-on to put the Clippers up by seven. He finished with 18 points. Maxi Kleber’s dunk brought the Mavs within 108-105, but after a Clippers turnover, Tim Hardaway Jr.’s potential tying three spun around and out. JaMychal Green missed two free throws, but then Doncic missed two— the second intentionally—and Leonard sealed

it with two free throws. With Powell out, Dallas got 16 valuable minutes from former Clipper Boban Marjanovic, who had 12 points and seven rebounds. His turnaround hook with 6:23 to play tied it at 90, capping a rally from a 14-point, second-half deficit. Powell went down with 2:57 left in the first quarter. He started to drive toward the basket but fell to the ground and immediately slapped the floor in pain. He was helped to the

gain the interest of mainstream America when nearly three-quarters of the players were black. But Stern drove employees at the league and on its teams to work through that, to turn the league into what he thought it could become. “No one had a better crystal ball than David Stern,” said Val Ackerman, the commissioner of the Big East who previously was an assistant to Stern at the NBA. Ackerman choked up when discussing Stern’s dedication to women’s sports, how he was at the first WNBA game in New York in 1997 and remained a champion of the league even when there were early detractors. “For all the advances in women’s team sports since that auspicious night, I hope historians will write that it was women’s basketball and the WNBA that did it first and

locker room putting no weight on his right leg. The team later announced that Powell had an Achilles tendon injury and he was out for the game. Powell’s teammate JJ Barea—who tore his right Achilles tendon last season— was distraught as Powell was taken off the court. Powell was averaging nearly 10 points a game in 39 games prior to the injury. With Porzingis out, Powell averaged 13 points over 10 games on 71 percent shooting. AP

Arsenal fights back for draw on wild night in Premier League

ins might still be in short supply for Mikel Arteta in Arsenal’s worst league campaign in a quarter of a century, yet some fighting spirit appears to have returned under the new manager. Just ask Chelsea. On a night of late goals in the Premier League, Arsenal played with 10 men for more than an hour following David Luiz’s 26th-minute red card and fell behind on two occasions at Stamford Bridge, yet still came away from a wild London derby with a 2-2 draw. Arsenal finished the night in 10th place—and closer to the relegation zone than the top 4—with nearly two-thirds of the season gone, yet possibly with some hope that better times might just be around the corner. “Time will tell if this is a stepping stone,” said Arteta, who has just one win in six league games since taking over from Unai Emery last month, “but at least I saw a reaction. We have to keep playing

Chelsea’s Tammy Abraham lies on the pitch at the end of his team’s English Premier League match against Arsenal. AP

with the spirit we showed, in every game.” Chelsea seems determined to keep open the race for the final Champions League qualification place. With just 14 points from its last 12 games, Frank Lampard’s fourth-place team is still within range of a bunch of challengers—potentially as far down as Arsenal, which hasn’t finished outside the top 6 in 25 years. The sight of striker Tammy Abraham being helped off the field after the full-time whistle because a bang to the ankle was a further dampener on the night for Chelsea. Chelsea only allowed two shots and conceded goals from both of them, the first to Gabriel Martinelli after an 80-meter run in which the Brazilian teenager was allowed to cruise past N’Golo Kante when the midfielder—having raced back to be the last man—slipped over near the center circle. Hector Bellerin grabbed Arsenal’s second equalizer in the 87th, yet that was far from the latest goal on a chaotic evening around the country.

THE Clippers’ Kawhi Leonard dunks over the Mavericks’ Luka Doncic. AP

blazed a trail,” Ackerman said. “I hope they’ll write that David, while always quick to deflect credit, was the most important figure in the women’s sports movement since Billie Jean King.” Then, with King in attendance, Ackerman wrapped up her remarks by reading from an e-mail Stern had sent her touting the WNBA’s accomplishments. “As usual, I’m unable to say it better,” she said. “We broads truly owe him.” So does Johnson, who said Stern would constantly check up on him to make sure he was healthy, and ask Johnson’s wife if he was eating right. “I’m going to miss my friend. I’m going to miss my angel,” Johnson said, “and now who’s going to be there at the All-Star Game to make sure I’m OK?”

God of majesty and power

EAR God, You save the humble of the Earth. In faith we pray: Restore our life in You, oh God. Your majesty surpasses the everlasting mountains: lead us to contemplate Your presence in the beauty of the natural world. You give life and breath to everything: animate in all people a desire to protect and respect the unborn. You fix the order of the seasons: inspire efforts to address climate change which is the very concern of our youth nowadays. May God bestow upon us every grace and blessing of the Spirit to realize that in God we live and move, and have our being. Amen. GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

❶ THE Hooker

Valley Track that leads to the base of the Hooker Glacier at the bottom of Mount Cook, New Zealand’s tallest mountain, also known as “Cloud Piercer.” PHOTOS: AP

Life

REELING: MARGINAL NOTES ON REGIONAL CINEMA AND MISGUIDED TRAVELOGUES D4

BusinessMirror

Thursday, January 23, 2020

❷ MOUNT

Cook rising above Lake Pukaki on the South Island of New Zealand. Mount Cook is New Zealand’s tallest mountain and is also known as “Aoraki,” or “Cloud Piercer,” in the indigenous Maori language.

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❸ MALCOLM

FOSTER driving a rented camper van on the South Island of New Zealand. Touring in a camper van is a popular way for tourists to see the country.

❹ LAKE Wakatipu

viewed from the top of Mount Judah, a small mountain near Glenorchy, New Zealand.

❺ THE northern end of Lake Wakatipu in Glenorchy, New Zealand, where several scenes from The Lord of the Rings movies were filmed.

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To experience New Zealand’s rug�ed beauty, go by camper van

BY MALCOLM FOSTER The Associated Press

LENORCHY, New Zealand—We crested a hill on the winding lakeside road, and there it was: Middle-earth. Rugged, snow-capped mountains glowed in the setting sun, and dappled green pastures tumbled down to the water’s edge. White peaks soared in the distance. The Misty Mountains, perhaps? It was past 8 pm in late December—summer in New Zealand—and our family was on Day Four of an eight-day camper van adventure around the South Island. We were headed to a campground in Glenorchy, a village at the northern tip of Lake Wakatipu, where several scenes from The Lord of the Rings movies were filmed. It is one of the most unspoiled, magically beautiful places I’ve ever been. We had just left the picturesque if touristy extreme-sports mecca of Queenstown, where commercial bungee jumping started (no, we didn’t try that). A New Zealander friend had recommended we stay in the quieter, more pastoral Glenorchy, and I’m glad we did. We spent two nights at a charming campground with hot showers and a pleasant communal kitchen. It ended up being the highlight of a trip filled with breathtaking beauty and memorable experiences. Our 800-mile (1,300-kilometer) loop south from Christchurch, the South Island’s biggest city, took us through countryside that at turns reminded me of Scotland, Switzerland, northern Japan and the US Southwest. We drove past craggy mountains, lush forests, huge barren hills dotted with scrub brush, and green pastures with lots and lots of sheep. We stopped at milky blue lakes whose hue comes from “glacial flour,” rock sediment ground up by glaciers. We hiked through meadows, past rushing streams and huge bushes of yellow wildflowers. The sun set around 9 pm, giving us gloriously long days to explore. We didn’t want to leave. HOME ON WHEELS TOURING in a camper van gave us flexibility to go at our own pace and stop where we wanted. It’s a popular way for both Kiwis (as New Zealanders call themselves) and international tourists to see the

country. New Zealand has a well-organized network of campsites. Some are spartan, with just public toilets and access to water, while others have hot showers, washing machines, shared kitchens and barbecue grills. Campsites are largely divided between “powered sites,” where you can hook up your van to an electrical outlet, and those without power. Renting a camper van isn’t cheap, but you save on lodging and dining since you’re in a home on wheels. You’re also paying for the freedom of movement. The most basic campsites are free, and many others cost between NZ$10 and NZ$25 ($7 to $17) per person per night. Apps such as Campable and CamperMate provide helpful information. Traveling in a camper van was something our two teenage sons had wanted to try since watching the Ben 10 cartoon show, in which the hero’s grandfather drove around in his RV, “Rust Bucket.” Our 29-foot (9-meter) long vehicle—a Fiat truck refitted by Germany’s Burstner—was no rust bucket; it was clean, convenient and operated smoothly, although space was tight. It had two double beds, one in a back room that included a toilet and shower, and another that descended from the ceiling of the front cabin with the push of a button. It also had a tiny kitchen with three gas burners, a sink and small refrigerator. The front two seats swiveled around to face a table behind which the other two members of our family sat while driving and for meals. We also ate at picnic tables or communal dining areas, where we heard French, German, Hebrew and other languages. Every other day, we dropped by a “dump site” to dispose of toilet waste and “gray water” (sink waste water). Our boys helped with the dumping duties, and the experience taught us all to be more aware of our daily water, energy and waste needs—things we take for granted at home. I found the vehicle easy to drive, although extra caution was needed going around corners. Driving on the left may be challenging for some, as well as using roundabouts, or traffic circles, which are common in New Zealand. ‘CLOUD PIERCER’ IT quickly became clear that my initial route, which included a run out to Milford Sound, was overly ambitious, so we scaled back. Instead of covering a

lot of ground, we spent more time savoring fewer locations, and that proved to be the right call. Our first objective was Mount Cook, New Zealand’s tallest mountain, also known as “Aoraki,” or “Cloud Piercer,” in the indigenous Maori language. After a long international flight and connection in Auckland, we picked up the camper van near Christchurch airport in the afternoon and got a helpful explanation about how everything worked. (There are many rental companies, including Maui, Jucy and Wilderness Motorhomes, which we used and liked.) After stocking up on groceries, we drove a couple hours inland before weariness prompted me to pull into a simple roadside campsite just as it began to rain. We paid the on-site manager, cooked a simple dinner in our vehicle and soon fell asleep in our beds as the wind whistled outside. Waking refreshed to sunny skies, we drove into hilly country, stopping to admire fields of purple lupins and turquoise glacier-fed lakes, Tekapo and Pukaki. As we approached Mount Cook, its huge white peak suddenly emerged from a break in the clouds, rising starkly from the flat land. We spent two nights at Glentanner Park Centre, a powered campsite with nice facilities and views of Mount Cook and surrounding peaks. We had glorious weather the next day for an easy hike along a popular trail beneath snow-capped ridges to near the bottom of the shrinking Hooker Glacier, at the foot of Mount Cook. How many days a week do you get clear skies like this? I asked a park official. Maybe one, he said. We hiked beyond the end of the trail, clambering over rocks toward the glacier—which appeared gray, like dirty ice at the end of winter—and stopped at a little hill where my son built a cairn and my wife sunbathed on a boulder. ENCHANTING LIGHT I THOUGHT that experience would be hard to beat, but Glenorchy topped it. As we drove south past river valleys and vineyards to Queenstown, set on a tiny inlet of Lake Wakatipu, the late afternoon sun cast an enchanting light on the rugged mountains across shimmering water. After driving through town, filled with tourists and chic apartments, we stopped at a little beach

CONTINUED ON D3

SHANGRI-LA AT THE FORT CELEBRATES CHINESE NEW YEAR

CELEBRATE in style and welcome the Lunar New Year in the heart of Bonifacio Global City. Shangri-La at the Fort, Manila (www.shangri-la.com) sets the stage for an auspicious fete with invigorating stay packages, signature Chinese New Year cuisines and age-old cultural traditions. Book for stays until January 31 and get Golden Circle member-exclusive benefits, such as P1,500 dining or spa credits during your stay when you sign up. Heighten the experience with a captivating lion dance show at the Lobby on January 25, 10 am, followed by a family feast at Canton Road on Level 3. Chinese Executive Chef Wang Wei Qing curates a series of limited-time offer set menus good for 10 persons. Select seasonal set menus are inclusive of one bottle of wine and select nonalcoholic beverages, and are offered for lunch and dinner until February 8. For a more distinct gastronomical dinner celebration, head over to Ministry of Crab on January 25 and indulge in a family style set menu for four highlighting the best of fresh Philippine seafood and vibrant Sri Lankan flavors. Making the Chinese New Year celebration all the more special, guests are invited to share well-wishes and give the gift of nian gao and curated hamper boxes to friends and family. Nian gao, or commonly known as tikoy, is available for preorder until January 25 and may be picked up at Canton Road three days upon confirmation of order. The signature delicacy comes in three flavor options: radish, coconut milk and taro. These are available in double-fish or round shape varieties inside a one-tier or two-tier box starting at P2,126 per box. For orders, e-mail cantonroad@shangri-la.com.

Thursday, January 23, 2020

Entertaining BusinessMirror

This Chinese salt and pepper shrimp is a savory spicy joy T

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Tiffani Thiessen, 46; Mariska Hargitay, 56; Gail O’Grady, 57; Richard Dean Anderson, 70. HAPPY BIRTHDAY: Honesty will play a big role in how your life unfolds this year. Begin with self-evaluation, followed by an assessment of those you associate with. Look at your attributes and consider how to utilize your talents in order to reach your goals. You can get ahead if you follow proper protocol and concentrate on what it is you are trying to achieve. Your lucky numbers are 3, 14, 21, 29, 36, 40, 43.

By America’s Test Kitchen The Associated Press

ARIES (March 21-April 19): Take care of your responsibilities before someone complains. You are best to keep busy and to avoid lengthy conversations. Wasting time will leave you feeling unsatisfied, as well as make you look bad. HHH

HERE’S probably no recipe that better showcases salt and pepper working in multiple ways and together than Chinese salt and pepper shrimp, an enticing dish of plump, moist fried shrimp with shells as shatteringly crispy—and appealing to eat—as fried chicken skin, and a killer savory spicy flavor profile. A quick salt-rice wine soak improved the shrimp’s texture, plumping them, as well as contributing flavor; the Sichuan peppercorns gave the dish sparkling spice and aromatic piquancy, while black peppercorns provided a straightforward hit of heat. We added the black peppercorns and Sichuan peppercorns along with cayenne and sugar to the coating, and then fried more of the same with ginger and garlic to make a flavorful paste that we tossed the fried shrimp in for great depth. For an extra jolt of spiciness, we also fried a couple of thinly sliced jalapeños. We like to use frozen shrimp; thaw them overnight in the fridge or under running cold water and blot them dry. Use a Dutch oven that holds 6 quarts or more for this recipe. Serve with steamed white rice.

TAURUS (April 20-May 20): Strive for excellence. How you approach your work and deal with others will make a difference to the way things unfold. Mingle with people who can help you get ahead. An emotional plea will pay off. Recognition will be yours. HHHHH

GEMINI (May 21-June 20): Put the changes you want to make into motion. Own what you do and say, and stand by your promises. How you handle others will make a difference, so refrain from using emotional manipulation, even if it’s tempting. HH

CANCER (June 21-July 22): Do things your way. Take a different route to get to where you want to go. Experience new people, places and pastimes, but don’t lose sight of who you are and what you are striving to become. HHHH

LEO (July 23-Aug. 22): Don’t let the changes going on around you throw you off your game. Concentrate on what you need to accomplish, and use your skills and experience to reach your goals. HHH

VIRGO (Aug. 23-Sept. 22): Don’t let someone disrupt your world. Look inward and make changes that will help you be at your very best. Don’t share your thoughts or plans with anyone. Keep passwords and personal information secret. Walk away from indulgent people. HHH

CRISPY SALT AND PEPPER SHRIMP Servings: 4-6 Start to finish: 1 hour 1 1/2 pounds shell-on medium-large shrimp (31 to 40 per pound) 2 tablespoons Chinese rice wine or dry sherry Kosher salt 2 1/2 teaspoons black peppercorns, coarsely ground 2 teaspoons Sichuan peppercorns, coarsely ground 2 teaspoons sugar 1/4 teaspoon cayenne pepper 4 cups vegetable oil 5 tablespoons cornstarch 2 jalapeño chiles, stemmed, seeded, and sliced into 1/8 inch-thick rings 3 garlic cloves, minced 1 tablespoon grated fresh ginger 2 scallions, sliced thin on bias Shredded iceberg lettuce Adjust oven rack to upper-middle position and heat oven to 225°F. Set wire rack in rimmed baking sheet and line large plate with triple layer of paper towels. Toss shrimp with rice wine and 1 teaspoon salt in large bowl and let sit at room temperature for 15 minutes. Combine black peppercorns, Sichuan peppercorns, sugar and cayenne in small bowl. Heat oil in large Dutch oven over medium heat until oil registers 385°F. Meanwhile, drain shrimp and pat dry with paper towels; wipe bowl dry with paper towels. Transfer shrimp to now-empty bowl, add 3 tablespoons cornstarch and 1 tablespoon peppercorn mixture, and toss until well coated. Carefully add one-third of shrimp to hot oil and fry, stirring occasionally to keep shrimp from sticking together, until light brown, two to three minutes. Adjust burner, if necessary, to maintain oil temperature between 375°F and 385°F. Using wire skimmer or slotted spoon, transfer shrimp to prepared plate and let drain briefly. Transfer shrimp to prepared rack and keep warm in

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oven. Return oil to 385°F and repeat frying shrimp in two more batches, retossing each batch thoroughly with coating mixture before frying. Line plate with clean paper towels as needed. Return oil to 385°F. Toss jalapeño rings with remaining 2 tablespoons cornstarch in separate bowl. Shake off excess cornstarch, then carefully add jalapeño rings to oil and fry until crisp, one to two minutes. Transfer jalapeño rings to prepared plate. After frying, reserve 2 tablespoons frying oil. Heat reserved oil in 12 inch skillet over mediumhigh heat until shimmering. Add garlic, ginger, and

remaining peppercorn mixture and cook, stirring occasionally, until mixture is fragrant and just beginning to brown, about 45 seconds. Add shrimp, scallions, and 1/2 teaspoon salt and toss to coat. Line serving platter with shredded lettuce. Arrange shrimp on platter and sprinkle with jalapeno rings. Serve immediately. n Nutrition information per serving: 370 calories; 251 calories from fat; 28 g fat (2 g saturated; 1 g trans fats); 143 mg cholesterol; 729 mg sodium; 11 g carbohydrate; 1 g fiber; 2 g sugar; 16 g protein.

SCORPIO (Oct. 23-Nov. 21): Open your mind and listen to what others say. Once you have all the facts, make a decision based on what you feel you can live with and walk away from anyone or anything you don’t consider to be good for you. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Change begins within. Consider what you want and how best to get it while sticking to a set budget and not jeopardizing your position or your reputation. Don’t believe everything you hear, and stick to the truth to avoid backlash. HH

CAPRICORN (Dec. 22-Jan. 19): Push for what you want. Look at the logistics behind a moneymaking endeavor and consider who is involved before you promise anything. Emotional deception regarding contracts and money will unfold if you are gullible or too trusting. HHHHH

Kuya J opens first café in Makati FOOD lovers and “coffeeheads” are in for a treat as the well-loved Filipino restaurant Kuya J recently launched its first Kuya J Café + Restaurant at Park Square in Makati City. The new café marries casual dining with a relaxing ambiance, making it the perfect spot for any occasion—whether it’s for an afternoon of unwinding with friends, or for a night of relaxation by yourself. Diners can now enjoy its unique blends and brews: the Kuya J Café House Blend, sago’t gulaman coffee and tablea coffee. Apart from its signature beverages, customers can also indulge in their

LIBRA (Sept. 23-Oct. 22): Focus on personal and physical changes that will make you feel good about the way you look, who you are and the relationships you want to nurture. Make a point to distance yourself from those who bring you down. HHHHH

AQUARIUS (Jan. 20-Feb. 18): Take care of matters that could hold you back. Update documents and contracts that need to be addressed, and take care of any health issues quickly. Question anyone who shows signs of inconsistency or tends to exaggerate. HHH

l exclusive menu items like the guava cake, tablea cake and salted egg cheesecake. Present during the opening to welcome guests were (from left):

Comisario Central Inc. COO Anton Dator, Kuya J COO Richard Joseph Li, Kuya J endorser Jericho Rosales, Kuya J Group CFO Francis Reyes and marketing director Ton Gatmaitan.

PISCES (Feb. 19-March 20): Take better care of yourself. Do whatever it takes to limit excessive behavior, and concentrate on a better fitness routine that will encourage you to distance yourself from bad influences and people who are emotionally draining. HHH BIRTHDAY BABY: You are patient, innovative and courageous. You are ambitious and playful.

‘take it to the rim’ BY ADAM VINCENT The Universal Crossword/Edited by David Steinberg

ACROSS 1 Senate race prize 5 Story of Medusa, e.g. 9 Period 12 Let happen 13 “Gotta go!” 14 Lapel decoration 15 Face protectors for net protectors (see letters 4 to 7) 17 Cubes in a cup 18 Decide 19 Canadian nickname for $2 coin 20 What worrywarts do 21 Classic film holder 23 Cubs great Sammy 24 Cannon sound 25 Second story, perhaps 27 Escape room feature (2 to 5) 30 Isle of ___ 32 Lodging options 33 Genre hidden in “canned music” 36 What might help you get a tan? 37 Sty female 38 Reggae relative 39 Lightsaber or blaster 41 Civil rights leader John

3 Iron filler at brunch (5 to 8) 4 45 Country of Everest’s South Base Camp 49 Game with people pegs 50 Enterprise rival 52 Songwriter Guthrie 53 Aspiring MBA’s exam 54 City southeast of Merced 56 Pomeranian’s fluff 57 Its 1971 ed. came with a magnifying glass 58 Tart garnish for a drink, or a hint to the starred answers’ indicated letters 60 Twitter profile blurb 61 Eats in style 62 Office plants, often 63 Quaint lodging 64 Hit with a newspaper, say 65 Big rig DOWN 1 Like a ramp 2 On cloud nine 3 1990s-2000s CD sender 4 Irritating sort 5 Is serious 6 “No, you’re not!” retort

7 Little one 8 Eagle-landed link 9 Paragons 10 Nondairy grain drink (4 to 7) 11 Once more 12 Greek market 13 Removes wrinkles from 16 Dawn deity 20 “And ___ begins...” 22 Deep, as a voice 24 Arrive casually 26 “Nailed It!” host Byer 28 Web site with DIY guides 29 Org. that inspects bags 31 Here today, ___ tomorrow 33 Disgusted reaction 34 Poker request (4 to 7) 35 Mob figure 37 Many practice misogyny 40 Deflating noise 41 Rave performance 42 Squid’s home 44 Spot for a sailboat 46 Business image business 47 Ones who have lost their senior status?

8 Like a grainy pic 4 51 ___-Caps 53 Mongolian death worm’s desert, it’s said 54 Texter’s “Just saying...” 55 Send-___ (farewell parties) 58 Six-pt. NFL plays 59 Levi’s alternative Solution to yesterday’s puzzle:

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Thursday, January 23, 2020

To experience New Zealand’s rugged beauty, go by camper van

CLOCKWISE: Me and Mang Baguio; it95 batch photo on “Still Got it” stage; Tin Gonzales and Iza Cabilao with Gary Valenciano; Eirene Aguila, Luisa Evangelista and myself; it95 batch photo after mass; me with Liza Famador, Paula Locsin and Eliza Antonio.

Continued from D1 where our boys skipped rocks and played with driftwood. Hopping back in the camper van and driving to Glenorchy on a road hugging the lake, we crested a hill about a half hour later for a breathtaking view that made me smile: We’re spending the night in Middle-earth. Actually, we stayed at Mrs. Woolly’s Campground in the middle of the little town. It had a clean communal kitchen and pleasant indoor/outdoor eating area. A seven-minute hot shower cost NZ$2 ($1.33), and there was a cute gift shop next door. We traveled at Christmastime, when lots of other camper vans are on the road, so I reserved a couple campsites online ahead of time, including this one. Otherwise, we found space at sites along the way. Lake Wakatipu is too cold for swimming, but you can rent kayaks and bikes, go parasailing or hire a helicopter to fly you over the peaks and lake. Or just go for one of the area’s many scenic walks. Some outfits offer tours of locations where scenes from The Lord of the Rings and The Hobbit movies were filmed. 360 DEGREES OF BEAUTY OUR family took a memorable hike up nearby Mount Judah. Under cloudless skies, we walked up a trail lined with yellow wildflowers. This expedition turned into our own mini-Lord of the Rings adventure when the trail led away from the summit, prompting us to bushwhack the final third, up a steep slope of grassy underbrush to the top. (New Zealand has no snakes or large wild mammals, although we did encounter some goats.) From the summit, we were rewarded with stunning views of Lake Wakatipu and craggy, snowcapped peaks in every direction. After a picnic, we bushwhacked back down to the trail and descended to our camper van in the afternoon sun. During the entire hike, we met six people. Our travels would go on to include stops at Wanaka, on another lovely lake, and Oamaru, on the east coast where we encountered small penguins that came ashore at night to sleep. We could hear them squawk from inside our van. After a fulfilling eight days, we returned the camper van without any mishaps, having gained a new love for this beautiful country and its friendly people—and a renewed appreciation for hot showers, sewage systems and our larger kitchen at home. It was a great way to experience New Zealand and build family memories, and I’m already envisioning my next camper van adventure. n

GRAND MASCOT PARADE AT SM MALL OF ASIA

SM Mall of Asia welcomed 2020 with a Grand Mascot Parade, featuring over 400 mascots spreading cheer around the mall. Leading the celebration were the MOA Magical friends: Leo the Lion, Ellie the Elephant, Cyril the Squirrel, Benny the Bunny, Hannah the Panda, Hailey the Hippo, Macky the Monkey, Gerry the Giraffe and Sebi the Zebra. They were joined by friends: Elmo, Cookie Monster, Ernie and Bert from Sesame Street; Nickelodeon’s Dora and Boots; Spongebob and Patrick; PAW Patrol; Shimmer and Shine; Toy Kingdom’s friends Shopkins, Playdoh, My Little Pony, Hatchimals and many more. Highlighting the MOA Grand Mascot Parade 2020 were the much-awaited giant flying inflatables: Catie the Caterpillar, Codie the Clown Fish, Billy the Bear, Cara the Cat and, the newest additions to the gigantic friends; MOA Train, the MOA Airlines and BDuck, that floated as worldclass 100-piece drones, all of which delighted spectators. The MOA Grand Mascot Parade 2020 was held in partnership with Globe, GCash, Jollibee, PayMaya, Toy Kingdom, and Cyberzone.

DOMWNL: My Yellow Home (Part II) MOMMY NO LIMITS

MAYE YAO CO SAY

mommynolimits@gmail.com

Y gratitude to my “Yellow Home” continues with my beloved teachers. It starts with people who accepted me in. Last year, I was very saddened to hear of Señora Villanueva’s passing. She was my first handshake to Poveda because of my Saturday Spanish remedials. As a testament to her meaningful tutelage, one of my life’s bucket list is to study at Instituto Cervantes in Madrid. During the wake, Ms. Cometa, our principal then, was there. It was the first time I heard about the deliberations behind my acceptance to the school; and how funny my dad was in trying to convince them. It was also the first time I heard her say, “You know, we [Señora Villanueva, Sally Villavicencio, Cometa] keep on fighting for you.” She said from the day I entered up to receiving my graduation awards, they fought for me since I had been only in Poveda for two years. I was literally in tears of gratitude, even now, as I write this piece. Mr. Cedre saw my love for the Filipino language. He forced me to audition for a role, then politely relegated me as stage manager. The following year, he allowed me to write and direct my own play, Salamin (Mirror). Mr. Crisostomo, my religion teacher, encouraged me and other students to go out of our

comfort zones and head the first Acolyte ministry in school. Above all these, through inspirational administrators and teachers like Ms. Pacia, Mrs. Ang, Ms. Ricafrente and so much more, I discovered that religious values bear true meaning when put into concrete action. I experienced this when the school appointed me to head the Poveda delegation for The World Youth Day. We joined other schools for the activities, as well when all prepared for Pope John Paul II’s visit to Manila. Even after my high-school years, the Povedan spirit lived on in many forms. Toward end of high school to college, Liza Famador helped me find more meaning in my faith by introducing me to a Catholic youth group. During the university years, when I decided to shy away from school clubs, Eirene Aguila appointed me to be her finance and marketing head for the ORSEM (Orientation Seminar) for thousands of incoming freshmen. This eventually led me to head the Ateneo Junior Marketing Association. A few years ago, I met up with Lea Disini to reminisce over lunch. She recalled how I sold her a puzzle and even brought her to our warehouse in high school. Today, we share a project, called Casa Tykes. Twenty-twenty marks our 25th year as highschool graduates. Anyone who has been part of planning a homecoming knows the time and resources involved. It is always hard to pull everyone together. Our batch is lucky to have so many committed people with the ultimate goal for all of us to be “together again,” and also to find the best way to show gratitude to a school that has meant so much to all of us. Regardless of how each one could have helped, every gesture—whether it was a donation, time or simply committing to attend—was regarded with high appreciation. Even up to the last day of rehearsal, all those who had been working hard for the past few months still encouraged newcomers to

join. With Anna Martirez’s push, I was one of the last to join. Many helped to teach me, even those who were not my classmates. The steps were not easy. Len Len Bouffard and Ana May de Leon sent me home on my first and last rehearsal day with video tutorials by Katrina Odi. On January 11, true to batch 1995’s vision of bringing everyone together, we all heard mass, we saw photos of our high-school memories, honored our teachers and remembered our special classmates who had gone too soon. We did all this together. Our most-loved security personnel, Mang Baguio, was even given a special role in the program. Ninety out of 140 of our batchmates attended our reunion. Out of the 90, 55 people performed a full show onstage. Thank you for the brilliant choreography and patience, Josh Junio. As if all these were not enough, our cochairmen, Iza Cabilao and Tin Gonzalez, wanted all of us to have even more fun by surprising us with Gary Valenciano, Ogie Alcasid, Jose Marie Chan and True Faith. We were also equally happy that we were able to help worthy charities, including Pedro Poveda Foundation’s scholarship for seminarians; Asocacion de Alumnas de Poveda’s (AAP) Helping Hermanas and Student scholarship program; and our own alma mater, Saint Pedro Poveda College. In conclusion, Poveda was, and will always be, my Yellow Home. It lightened the path for a “Maye Yao” I never thought existed. Whether it was the genuine care of my teachers, or the heartfelt laughter and tears I shared with my classmates, Poveda has allowed me to breathe with freedom, faith and purpose. So, as we “raised our glasses” on January 11, I truly wished each, and every, one of my batchmates to capture and carry through our “Still Got It” spirit into lifelong friendships and meaningful success in life. Hermanas Para Siempre! n

VULNERABLE CHILDREN OF BASILAN, SULU AND TAWI-TAWI TO RECEIVE ADDITIONAL PROTECTION FROM POLIO THE World Health Organization (WHO) and United Nations Children’s Fund (Unicef) continue their support to the Department of Health (DOH) in the remote islands of Basilan, Sulu and Tawi-Tawi (BaSulTa) to reach 488,000 targeted children under 10 years old with the polio vaccine. Children in BaSulTa are at risk of infection from polio because of low vaccination coverage, inaccessibility and security issues in the island municipalities and barangays. To offer added protection to children in BaSulTa, one of the priority areas, a further three rounds of immunization for poliovirus type 1 targeting all children below 10 years old will be implemented. Immunization has been conducted in BaSulTa and Zamboanga City, and Mindanao-wide from January 20 to February 2; February 17 to March 1; and March 23 to April 4. DOH announced a polio outbreak in the Philippines last September 19, with the first poliovirus type 2 case found in Marogong, Lanao del Sur. On November 26, DOH announced the reemergence of poliovirus type 1 in Maluso, Basilan. On December 6, the first case of polio after 27 years was confirmed in Sabah, Malaysia, and revealed to have genetic links to the polio case found in Basilan. Lessons learned from the previous vaccination rounds in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) revealed that local government units need additional help, especially those in hard-to-reach areas. The DOH is working with the Bangsamoro government and local government units for the implementation of the polio campaign with technical support from the WHO, Unicef and other partners.

“WHO recognizes that DOH and local government units have worked tirelessly through the holidays to prepare for this response. The high-level political support has been instrumental in the success we witnessed in the previous rounds, and we urge all parties to ensure high coverage during this campaign to ensure that all the vulnerable children in these islands will receive the much-needed protection,” says Dr. Rabindra Abeyasinghe, WHO representative to the Philippines. “Unicef is concerned about the plight of children in BaSulTa and the rest of children in BARMM. They are among the most vulnerable children in the Philippines. Vaccination is the only way to protect children from polio. Vaccines are safe, and effective. We must all work hand in hand to stop the

spread of the virus,” Andrew Morris, Unicef chief of Mindanao Field Office, says. WHO has been supporting DOH and Ministry of HealthBARMM in responding to the polio outbreak by deploying personnel to ensure that vaccination campaigns are planned and implemented effectively. WHO also continues to provide financial support, and technical advice, on intensifying acute flaccid paralysis and environmental surveillance, and on risk communication, aimed at finally strengthening routine immunization program in the country. For the polio response, Unicef assisted health workers before, during and after each campaign. Before each campaign, Unicef helped the government procure supplies, such as vaccines, freezers, ice packs and vaccine carriers; facilitated the social mobilization component of the program, enjoining civil society, religious leaders and other influencers to spread messages about polio prevention; and lead the microplanning process with each municipality to ensure each child is reached. During the campaign, Unicef staff provided technical assistance to overcome challenges in the field. After each campaign, Unicef staff complemented the DOH’s effort in the conduct of assessments in select barangays to check if any child is missed. Unicef also provided assistance for proper vaccine disposal. Immunization is the most effective way to protect children from polio, and stop the spread of the virus. WHO and Unicef call on parents and caregivers to have their children vaccinated during synchronized polio vaccination rounds in priority areas announced by DOH.

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Thursday, January 23, 2020

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Marginal notes on regional cinema and misguided travelogues REELING

TITO GENOVA VALIENTE

titovaliente@yahoo.com

Liza Soberano talks about her sweet inspirations FROM her humble beginnings in local showbiz, to becoming one of the most sought-after celebrities of her generation, it’s easy to say that Liza Soberano has got it all. To many young individuals, the phenomenal star is an inspiration, with her perfect blend of beauty, wit, talent and kindness. But what inspires and motivates someone as wonderful as her? In an interview, the new Great Taste White coffee endorser opens up about the things that excite her and shares her sweet inspirations. ON LOVE AND SURPRISES “I LIKE to be surprised!” shares Liza, with a delightful laugh. “But it’s always hard to surprise me. I don’t know, maybe because I always catch people, or I’m just always expecting. Tapos nasasaktan ako ’pag wala.” And while Liza may often be seen dolled-up, her down-to-earth spirit continues to shine through her. “I’m not after how grand the surprise is. To me, I bank more on the experience.” ON THINGS SHE BELIEVES IN PEOPLE have seen Liza take on multiple roles on TV and the big screen. Now, here’s a side of her that many have not yet seen—a budding advocate for street children. “These are things I feel strongly about. Whenever I see kids on the streets, it gives me this sense of feeling that I would like to take part in giving these children the hope and inspiration that they deserve,” said Liza. At present, Liza takes her time in finding her perfect voice, but this, she shares, is one of the directions she’s determined to take on. ON HER SWEET INSPIRATIONS AS one of the A-list Filipino celebrities, Liza admits it can get challenging, at times, to sort out the hurdles that come her way, but in light of staying inspired, creative and true to who she is, Liza says, “It’s a matter of sticking to the people who were with me ever since the beginning. I think it’s very important that I don’t lose my circle of friends and the people who helped me get to where I am now.” She also shared she has a lot of goals, not just for herself, but also for the people around her. “When I dream, I don’t just dream for myself. As long as you have that love and these dreams that you want to reach for the people you love dearly, you stay inspired.” When asked what’s one thing that helps her get through her day, she readily said, “Coffee!” To Liza, drinking a cup of coffee daily powers her through when she’s taping, as the long hours of work requires for her to have an energy booster. “I like my coffee sweet and creamy, that’s why I drink Great Taste White. I prefer to have it in the morning because it’s a perfect way to jump-start my day, but I also do when I’m simply craving. I see it as one of my sweet inspirations,” she added. As the newest endorser of the coffee brand, Liza feels blessed and honored to be a part of the family. “What I love most about the product is that I align with it. It’s sweet, like me, [laughs] but kidding aside, it is a great energy booster, especially for the work that I have, that’s why I’m really happy to be on board.” Great Taste (www.urc.com.ph) is a long-standing local coffee brand with a rich history of firsts—first white coffee mix, and the first twin-pack format, among others.

HE 12th edition of Cinema Rehiyon is finally happening in Naga City, Bicol. The communities of filmmakers in the region find it auspicious that the event coincides with the country’s celebration of the centenary of Philippine cinema, a date, which remains contentious given the different perspectives on when cinema— Philippine cinema—did come about in this republic. But this is another subject matter that can be tackled in a forum or a conference somewhere. I have been writing about regional cinema for a while, not so much about the films produced from the regions, but the concept of films coming from the region. With that interest comes my ongoing interest about what constitutes the region. That inquiry is but a small leap to the question of a nation. Contentious themes but what is intellectual or social growth without the contentions around us? Mulling the subject of regional cinema, I found a message from critic and anthropologist Skilty Labastilla asking me to participate in a kind of listing (Skilty is adept in this endeavor through his Pinoy Rebyu). Where before he compiled a relatively exhaustive listing of top films involving a good number of respondents, this time, he is conducting a poll on the “Film Person of the Decade.” Skilty explains that what the poll aims to identify is “the person who was instrumental in defining the 2010s in Philippine film.” My response was this: “The Film Person of the Decade are the persons behind Cinema Rehiyon. These are the filmmakers and festival directors from the regions, which for 12 years now continue to define what is regional cinema, contesting the distorted notion dominant for many decades about Tagalog cinema as national cinema, against the Manila-based and Manila-oriented critics, film scholars and film curators in setting the standard and rubrics for films that portray the Filipinos at the peripheries, providing not an alternative, but different and altered perspectives heretofore ignored and/or unknown by those living in the comfort of the False Center.” Continuing, I became more specific: “The 12th

In Gainza, Camarines Sur, Drew Arellano interviewed farmers as if traditional farming practices and postharvest processes could be found only in this small town. This is sad. edition [of Cinema Rehiyon] that will take place in Naga City in February will once more be the site of contestations, and even conflicts, among the regional filmmakers and curators, but these confrontations reflect the correct way of appraising regional cinema—it is a continuing pursuit, and not a rigid academic search for an assumed national identity just for the sake of having one and accepting the illusion of a nonexistent nation and, with it, national art.” In February, the screenings in Naga will mostly have subtitles as films from Zamboanga, Davao, Sagay, Partido, Sorsogon and other places hitherto unknown for those coming from Manila. The festival is a way for filmmakers to get to know each other. There will be similarities in their experiences. There will be differences. Knowing the regional filmmakers, they will continue to tell their stories in the way that people from their regions tell the stories. The narratives will be different. The framing and pacing will follow the rhythm common to their land and traditions, or in the way they subvert these old practices. They will use a map that only they will understand so far. Speaking of maps, a very disturbing travelogue took place last week in the town of Gainza, Camarines Sur. The journey was courtesy (or maybe at the impudence) of GMA’s Biyahe ni Drew. The traveler, as expressed in the title, is Drew Arellano, who is one of the more amiable TV personalities around. But amiability—or any personal psychology and

intention—has nothing to do with the correctness of a portrayal of a place. The object of the trip was Gainza, a town just a bridge away from one of the local malls in Naga City. The town itself is about 6.5 kilometers from the city. And yet, if one was not from the area, one got this feeling after viewing the program that the town was that isolated. At a certain point of the narration, there was even a mention how there was no hotel in Gainza. Of course, there is no need for a hotel in that place. A tricyle away is the road leading to four malls and a list of hotels to choose from. I am not being literal about isolation. In fact, my excitement in viewing the program was my anticipation that Drew Arellano, with his writers and, I hope, researchers, will construct this image of a small town that, for all its accessibility to the biggest city in the region, has remained socially distant. Most interesting in Gainza also is the presence of the Three Dead Christ, locally known as Tolong Hinulid (literally, “The Three Who Were Laid To Rest”). The icons are three statues of the Dead Christ laid out inside a bier. It is not Catholic. History will vouch that in the 1950s the village where the icons are found was the site of violence as several factions fought for the right over them. The icons are part of the messianic beliefs with close ties to the Rizalista movement. The traveler did not find them interesting enough. There were other major lapses in the narration: the smallest park with the statue of the Spanish bishop Gainza was shown. Instead of talking about the man, a Spanish friar who was known for progressive ideas about Nueva Caceres (the old Spanish name of Naga) and the man behind the setting up of the Colegio de Santa Isabel, the first college for women in the Philippines, he was merely described as the statue in perhaps, the smallest plaza in the country. To top it all, our tourist discovered tigsik, a verbal joust whose closest kin could be the duplo and balagtasan, and compared it to the Japanese haiku. Anyone who knows Japanese literature can tell you haiku is not a joust. It employs images and, traditionally guided by kigo, a reference to season. We can go on and on to differentiate the two, but the fact is that such comparison reeks of recklessness and ignorance. To Henry David Thoreau is attributed this statement: “It is not worthwhile to go around the world to count the cats in Zanzibar.” In Gainza, Camarines Sur, Drew Arellano interviewed farmers as if traditional farming practices and postharvest processes could be found only in this small town. This is sad. ■

Winfrey details her decision to withdraw from Simmons film NEW YORK—Oprah Winfrey said on Friday that Russell Simmons attempted to pressure her about her involvement with a documentary in which several women detail sexual abuse allegations against the rap mogul, but his efforts were not what prompted her to leave the project. “He did reach out multiple times, and attempted to pressure me,” Winfrey told The Associated Press through a spokesman on Friday. It was not anything Simmons said that prompted Winfrey to withdraw from the On the Record film, according to Winfrey, but rather inconsistencies in the story of one of Simmons’s accusers, Drew Dixon, that she felt needed to be addressed. Winfrey said on Friday that she still believes Dixon and other women in the film, but that more reporting was needed. On the Record directors Kirby Dick and Amy Ziering have said they have ample evidence against Simmons, a cofounder of Def Jam Recordings. Winfrey has said she wanted to delay the release of the film, scheduled to premiere on January 25 at the Sundance Film Festival, but that view was not shared by the film’s directors. On the Record had been part of her partnership with Apple, which no longer will distribute the documentary. Winfrey, who, herself, has spoken

openly of being sexually abused, announced she was leaving as executive producer on January 10, saying that more work was needed and that and the filmmakers were “not aligned” in their “creative vision.” The film’s producers, Impact Partners, said in a statement earlier this week that the movie was “ready for Sundance.” “We have always championed the voices of those who have been wrongly silenced. The women in this film have made a great sacrifice by coming forward to tell their stories in their own words. We are honored to support them,” the Impact statement reads. “We stand firmly behind the work of the intrepid filmmakers who continue to break new ground by advancing important stories in the public interest.” The AP does not typically name alleged victims of sexual abuse, but Dixon has told her story publicly, including on CBS This Morning earlier this week. The communications between Winfrey and Simmons and her concerns about Dixon’s story were first reported by The New York Times. Simmons has denied any wrongdoing. On Friday, a Simmons representative issued a statement, saying, “If defending himself against terrible accusations is considered intimidation then there would be no justice.” Speaking to AP on Friday, Winfrey

OPRAH WINFREY

disputed allegations by the makers of On the Record that she gave them little warning before her January 10 announcement. In a story which ran early Friday, Dick and Ziering told The Hollywood Reporter that they received just 20 minutes notice before Winfrey issued her statement. “It was very disappointing and upsetting,” Ziering told The Hollywood Reporter. “We were concerned about the survivors and what the hell this is going to do to them. That was our first thought. ‘Oh my God. Let’s tell

everybody, and figure this out.’” Winfrey told AP that Dick and Ziering knew well of her intentions. She said she had raised concerns last month about the film needing more work. According to Winfrey, she told Dick and Ziering that “new information” had made her see gaps she “thought needed to be filled” and that it was better to “take a rest.” “They said they would go on with or without me,” Winfrey told AP. She said the bottom line for her was that “the film isn’t ready.” AP

Envoys&Expats

www.businessmirror.com.ph | Thursday, January 23, 2020 E1

EXPAT EXECUTIVE

CEO champions a contact-center culture of authentic caring By Tony M. Maghirang

Contributor

NDIAN-born Maulik Parekh became, at the age of 39, one of the youngest CEOs to lead a Philippine-based organization with an international coverage when he joined SPi Global, now known as Inspiro. It’s an equally astounding feat, given that Parekh has taken Inspiro, a global contact-center enterprise, to the heights of local businessprocess outsourcing (BPO) industry leadership. The road that took him to the Philippines was pretty straightforward, Parekh tells Envoys&Expats. In landing a job in 2001 at Dish Network, one of America’s biggest satellite TV providers, his first task was to look for a location outside the United States to establish its first international customer service center. Parekh remembers, “After going through eight different countries as part of the search process, it became obvious to me that [this country] was my top choice. When I came back to the US, I recommended the Philippines to our board. The CEO at that time told me: ‘Thank you for the recommendation. Now make it happen.’” He did exactly that, first with PLDT, which was then looking for a partner to get into the BPO sector. After five years of fruitful partnership with the local telecommunications giant, he joined Teletech in the US, which sent him back to the Philippines to help run its local operations. The three months of his assignment became three years of helping grow the US-based BPO’s Philippine operations—from 6,000-people strong in 2006, to 22,000 by the time he left the company in 2009. While on a sabbatical hiking in the Himalayas, PLDT Chairman Manuel V. Pangilinan came calling for Parekh to join the PLDT group. The latter eventually joined SPi Global which, through two corporate transitions, had led him to Inspiro, where he now leads as CEO.

Preaching, practicing leadership

THE expat executive is, likewise, celebrating 10 years with Inspiro, and is keen on sharing lessons drawn from what he considers his “most remarkable decade—so far.” He says that the future of leadership is something that fascinates him nowadays. The fact that by 2025, almost 75 percent of all employees will be millennials, while new technologies that will reshape the workplace has inspired him to work out the next paradigm shift for future leaders. The initiative to share and discuss his vision of the qualities of an effective future leader draws from a personal realization that his own path as a “Gen X’er” to leadership will be very much different from the trajectory that millennials will take. Parekh believes that future leaders will require “re-braining,” a process of unlearning everything about leadership and reprogramming to an altogether different business landscape in the coming years.

In a recent talk with 600 Gen X leaders, his conceptual framework of the leader of the future boiled down to three elements. In true, social media-era fashion, the BPO exec outlined such into the following: First, there’s #NeverArrive. According to Inspiro’s CEO, “To remain relevant as a leader in the next 20 years, you should never tell yourselves, or others that you have learned everything that you need to learn. You should rather come from a place of, ‘What else can I learn today?’ Never come from a place that you’re done, or that there’s nothing more to learn.” Second is, #IMoveMyCheese. Basically a play on the title of a popular management book, it means that, instead of waiting for the world to move one’s “cheese” and feel crushed when somebody else actually repositions it, Parekh wants a potential leader to learn instead to anticipate and prepare for the changes that are about to hit. “Move your own cheese, and be a catalyst for change,” he exhorted. The third element is #Malasakit. The local BPO executive is hopeful that even in a future world filled with artificial intelligence and chat bots, people will always—and more so in this digital age—crave for the genuine human connection. To him, malasakit will always be one of the most empowering and endearing traits in any technologydriven industry.

Dissecting malasakit

FOR many, Parekh is a bit more of a Filipino than meets the eye when he talks about the value of malasakit. To him, it is the foundational element of the culture he’s building in Inspiro, including its locations in the United States and Nicaragua. He has seen the trait work wonders—something that has encouraged him to extend his stay in the Philippines for the longest time. So passionate is the Inspiro chief executive about malasakit that he actively shares his thoughts about it whenever he is given the opportunity to do so. He relates, “Every time I have a chance to talk to young people, [those] who are just starting with their individual careers in the industry, I always begin by asking: ‘How many of you would like to be in my shoes one day, or to rise from being an agent or team leader, to a director or vice president?” “A lot would raise their hands, and I tell them: ‘I have a very simple road map for that. How far you go in a company will depend on how much value you create for it. And how much value you create for the company will depend on the size of the challenges you take on. And the size of the challenges you’ll take on will depend on

the quality of your team. And the quality of your team will depend on the amount of malasakit you infuse into the corporate culture.” He further breaks down malasakit; thus, “It’s a simple relationship equation that I have seen work for me, as well as for many other leaders in our organization, and in other organizations, as well. Coming from a place of genuine care and concern for others, your employees, your co-workers, your clients, your partners, your vendors, it leads to something magical.” “Because if you have malasakit, if you genuinely care about what you do,” the CEO emphasized, “you would not tolerate politics at work. You would not allow favoritism,

[and] you would not create an environment where people feel they are in a game of thrones.” To him, the essentials of malasakit can be felt in other nationalities as well. As he pointed out, it’s just that the basic sense of it is already present in most Filipinos. The leader, he said, needs to harness the innate trait at work and share it with others to let the “enchanting powers of compassion spread all around.” Embodying his version of malasakit, Parekh gives leadership talks mostly to BPO-industry people as his “personal CSR.” An estimated 10,000 participants have attended his series of leadership talks. It’s his way of giving back to a country that has been

very kind to him professionally, and personally.

DNA is Filipino

NOW 20 years in the country, Parekh treasures the Philippines beyond the fact that it has given him the opportunity for a meaningful work. “Personally, I was just taken by the real, genuine warmth of the Filipinos,” he shared. “They made me feel right at home right from the start.” Through two decades in the country, Inspiro’s CEO championed the Filipino in the BPO industry, and in every opportunity presented to him. “Between 2001 and 2010, this country was filled with expats who came here to teach Filipinos how to run a BPO business,” he narrated.

“From 2010 onward, after an intense phase of learning, and growing, tables have turned. Filipinos now have become among the best BPO executives the world has to offer.” Parekh narrates of his company’s homegrown qualities. “At Inspiro, we take pride in the fact that our global work force in the Americas is all led by Filipino leaders. Our DNA is Filipino, and we have taken that imprint to the rest of the world.” Described by colleagues as a true, inspiring leader who nurtures and brings out the best in each employee, the Indian national has been honored with the Best CEO and Expatriate Executive awards. Continued on E2

Envoys& BusinessMirror

E2 Thursday, January 23, 2020

MIDDLE EAST MONITOR

Consulate General-Jeddah briefs Filipinos on contingency plans amid security threats

EDDAH—The consulate general called for a meeting on January 10 to brief the Filipino community in the western region of the Kingdom of Saudi Arabia about the Philippine government’s contingency, in view of security developments in the Middle East, specifically in Iran and Iraq.

There are an estimated 200,000 overseas Filipino workers in the said locale. Majority of them are in the Makkah area, where the city of Jeddah is located. Around 20,000 are in the southwestern regions of Asir, Najran and Jizan, which border Saudi Arabia with Yemen to the south. During the briefing, Consul General to Jeddah Edgar B. Badajos shared recent updates on the security situation in the western region. He reassured the community of the Philippine government’s readiness to repatriate or provide other forms of assistance to those who are affected by the conflict between the United States and Iran. He also urged Filipinos there to remain alert and vigilant, despite the apparent “cooling down of the situation.” Vice Consul Lemuel C. Lopez, head of the consulate general’s Assistance to Nationals section, discussed the consulate’s contingency plan. He informed those present of the “exit points” and “convergence

sites” should the security situation deteriorate and reach a point of mandatory evacuation of OFWs in the western region. Lopez added that, “although the contingency plan lays down certain basic protocols and procedures, it is a work in progress that can benefit a lot from the community’s inputs to ensure that they reflect the realities on the ground.” Some members of the Filipino community who were already in Saudi Arabia during previous instances of heightened tensions in the Middle East shared their own experiences and assured the group of the relative safety of the kingdom, compared with other countries in the region. Community Relations Unit Head Consul Mary Jennifer D. Dingal discussed the consulate’s national calendar for 2020, which reflects its events and activities for various Filipino community groups throughout the year. DFA

CONSUL General Edgar B. Badajos (standing) discusses the consulate’s risk assessment and assumptions. JEDDAH PCG/DFA

VICE Consul Lemuel C. Lopez outlines the Philippine consulate general’s contingency plan. JEDDAH PCG/DFA

PHL Embassy-Riyadh conducts contingency planning schemes

IYADH—The Philippine Embassy conducted contingency planning activities on January 11 to raise the readiness of its personnel and the Filipino community in responding to crisis situations. Officers and staff of the embassy and its attached agencies, such as the Philippine Overseas Labor Office, the Department of Social Welfare and Development, Social Security System, Pag-IBIG Fund, Police Attachés Office and Foreign Liaisons Office led by Ambassador to the Kingdom of Saudi Arabia Adnan V. Alonto, underwent a daylong workshop to review and refine the plan for responding to crisis situations that may affect the Filipino community in the region. The embassy identified critical gaps and areas for improvement in its contingency plan. It briefed members

Together with his core of managers, his leadership stints in organizations here and abroad have led to Best C-Suite Team and Best Management Team accolades. His 20-year stay (and counting ) has also turned Parekh into a staunch advocate of the Filipino talent, rallying behind the grand vision that Filipino leaders can be recognized at the forefront of global businesses and enterprises. Happily married to a Filipina, Parekh considers the Philippines as his home. He expounds: “[This

PHL Embassy in Qatar gathers Pinoys to discuss recent regional developments

MEMBERS of the Filipino community listen to the security briefing being laid out while contributing to the improvement of the contingency plan. RIYADH PE

of the Filipino community on the latest security situation in Saudi Arabia, as well as the general procedures and protocols that will be followed in case a crisis erupts in the region.

In his remarks, Alonto assured the Filipino community that the situation in the oil-rich country remains stable and secure, that the Philippine government is prepared

to assist Filipinos caught in crisis situations abroad, and that the Philippine missions in the region are continuously preparing for every contingency. DFA

CEO champions a contact-center culture of authentic caring Continued from E1

“OLD-timers” in the Filipino community share their experiences during the Iran-Iraq War and the Gulf Wars. JEDDAH PCG/DFA

country] has been a part of my life for the past 20 years. I didn’t dream of that when I was growing up but, obviously, I had some good karma. If you have good karma with certain people or a land, you’d be spending some time with them.” “Early on,” he went further, “I knew this was a place I would be coming back quite a bit as traveler or a place I would love to spend some time extensively.” Thus, declared Parekh: “I have spent half of my professional life with Inspiro, and I would not have found a better group of people, and a better country, to spend some of the best years of my life.”

INSPIRO CEO Maulik Parekh: Malasakit will always be one of the most empowering and endearing traits in any technology-driven industry.

ENVIRONMENT Secretary Roy A. Cimatu (in plaid polo), as special envoy to the Middle East, addresses questions of media representatives. DOHA PE/DFA

OH A —T he Ph i l ippi ne Embassy in the State of Qatar’s capital city, likewise, held a general meeting with members of the Filipino community on January 10 to discuss the current situation in the region, as it outlined efforts being made in monitoring these developments to ensure their safety and security. Ambassador Alan L. Timbayan thanked the cooperation of the Filipino community and assured them of the embassy’s preparedness to render necessary assistance to all Filipinos who will be affected in case the current tension in the region escalates. President Duterte’s Special Envoy to the Middle East, Envi-

ronment Secretary Roy A. Cimatu, who arrived in Doha the day prior, also attended the meeting and announced that the Philippine government stands ready to ensure the safety, and security, of all Filipinos in Iraq, Iran and other countries in the Middle East. The embassy briefed the community on the United States-Iran conflict and the latest developments in the region. It also informed the community that contingency plans are in place for all Filipinos in the Middle East country in case of any eventualities. The embassy called on the Filipino community to be updated with proper information, as well as to be prudent and vigilant at all times. DFA

&Expats

envoys.expats.bm@gmail.com |Thursday, January 23, 2020 E3

DIPLOMATS AND REPRESENTATIVES

Diplomats: 1st line of defense in countering extremism T

Adding value, depth

HE Foreign Service Institute (FSI) conducted the Training Course on Counterterrorism for Foreign Service Officers (FSOs) in the Department of Foreign Affairs’ home office, embassies and consulates general from December 9 to 13, 2019. The course was organized by FSI through the training services offered by the Global Risk Mitigation Foundation (GRMF), a nonprofit organization based in Honolulu focused on the development of holistic, comprehensive risk assessments and innovative educationbased solutions. The training course is one of the innovations being introduced by FSI to elevate the quality and breadth of its modules by focusing on specialized areas highly relevant to the work of foreign service personnel as it taps the expertise of resource persons from other countries. The objective of the course was to sensitize diplomats to the extremists’ interpretation of Islamic history and the events that serve as the basis for their thoughts and actions. It, likewise, aimed to demonstrate with clarity and demystify the ideological differences between

devout fundamentalists and violent extremists. Said course also provided diplomats not only the knowledge to better appreciate the historical and ideological roots of extremist groups, but also the analytical tools to help identify potential national security threats to the Philippines.

International, local experts

THE course ran under the guidance of three resource persons who provided lectures and facilitated discussions during the five-day training course: former Federal Bureau of Investigation Chief Counterterrorism Center instructor Kim Jensen, retired FBI Special Agent Ripley McGuinn and retired Philippine National Police officer Gen. David Ombao. Jensen was the legal liaison officer for the governments of Egypt, Jordan and Lebanon during his tenure with the FBI. He was instru-

Asean permanent reps hold 1st meeting in 2020

THE Asean’s Committee of Permanent Representatives, secretary-general and deputy secretaries-general join hands to kick off a new working year. ASEAN SECRETARIAT/DFA

PERMANENT Representative of the Philippines Ambassador Noel M. Servigon (left, seated) with his team. ASEAN SECRETARIAT/DFA

AKARTA—The Permanent Mission of the Philippines to Asean, headed by Ambassador Noel M. Servigon, joined other member-states’ delegates in the first Committee of Permanent Representatives (CPR) meeting for 2020 under the chairmanship of Vietnam at the Asean Secretariat in Indonesia’s capital on January 9. Asean Secretary-General Dato Lim Jock Hoi also attended the meeting. The committee tackled a wide range of issues covering the implementation of recommendations on the strengthening of Asean’s institutions and arrangements for upcoming events with dialogue partners. Discussions also set the CPR 2020 work plan, including the identification of specific deliverables in priority areas.

The Jakarta-based CPR is comprised of the 10 permanent representatives and ambassadors of the Asean member-states: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The CPR convenes at least once a month and is supported by a working group composed of the missions’ deputy permanent representatives and other officers. It is the main body tasked to assist the Asean Coordinating Council and conduct the external relations of the regional bloc. Together with the Asean secretariat, the CPR coordinates all three pillars of the Asean community and endeavors to strengthen the institutions of the body, including its secretariat. DFA

ABOUT 63 participants from select foreign-service posts, Department of Foreign Affairs home office, Foreign Service Institute and other government intelligence agencies such as the National Intelligence Coordinating Agency, the National Security Council, Philippine National Police and the Intelligence Service of the Armed Forces of the Philippines complete the course. DFA-OSCR

mental in developing the highly successful United States counterterrorism response that paralleled the techniques deployed against extremists by the governments of Egypt, Jordan and Saudi Arabia. McGuinn has gained significant depth and experience working on counterterrorism measures with his career particularly focused on efforts to counter violent extremism in Southeast Asia. He is a recognized subject-matter expert on the Abu Sayyaf Group, and has worked, as well as conducted investigations about the ASG since its inception. Retired General Ombao has acquired an extensive experience in terrorism prevention in the Philippines and international counter-

FOREIGN Affairs Secretary Teodoro L. Locsin Jr. expresses confidence that the training course could further enhance the Philippines’s counterterrorism efforts through its diplomats. GRMF/DFA

terrorism activity coordination, including with the FBI. He is a native of Mindanao who has spent

many years investigating money laundering and terrorist-financing activities.

ACCORDING to FSI Officer in Charge Celeste Vinzon-Balatbat, the course can potentially add value to the work of FSOs through basic knowledge, skills and new perspectives that w ill enable them to better evaluate visa applications at posts, revisit the Philippines’s visa policy vis-à-vis national security and economic considerations, and become more attuned to political and security developments at post. Vinzon-Balatbat said the training course adds depth to the FSO’s political reports and enrich their interaction with host government officials, including those from intelligence agencies. The course was, likewise, attended by new FSOs and more experienced officers directly responsible for analyzing political matters, including counterterrorism issues. Attendees assess the impact on the Philippines of political developments abroad, as well as submit policy recommendations on political and visa-related issues. Representatives of other government intelligence and security agencies also participated in the course that, in the process, not only enhanced their expertise in counterterrorism, but also strengthened the linkages and networking between Filipino diplomats and their intelligence counterparts in the Philippine government. DFA

DFA, Australia Awards sign partnering arrangement

HE Department of Foreign Affairs (DFA) has formalized its partnering arrangement with Australia Awards and the Alumni Engagement Program, through Foreign Affairs Undersecretary for Administration J. Eduardo Malaya and the Australian Embassy’s Deputy Chief of Mission Richard Sisson. “Our vision of a resilient foreign service is premised on having highly competent DFA personnel. This partnership with Australia Awards will assist in enhancing competencies of our personnel, based on the DFA’s organizational requirements,” Malaya said during his opening remarks at the signing ceremony. In particular, he noted that the Australia Awards scholarships will make available to DFA personnel high-quality education and professional development experiences. A number of DFA personnel have

FOREIGN Affairs Undersecretary for Administration J. Eduardo Malaya (left) and the Australian Embassy’s Deputy Chief of Mission Richard Sisson sign the partnering arrangement between the Department of Foreign Affairs and Australia Awards. PHILIP ADRIAN G. FERNANDEZ/DFA

attended training programs and availed themselves of scholarships in Australian universities. Notably,

a series of training courses on the law of the sea has been conducted for DFA and other government personnel, in cooperation with

fighting human trafficking

Ambassador of Sweden Harald Fries signs the Manila Declaration to Enhance International Cooperation in Combating Human Trafficking, as he took part in the fifth Manila International Dialogue on Human Trafficking. According to its embassy in Manila, Sweden is committed to the advocacies of promoting human rights and combating human trafficking globally.

the Australian National Centre for Ocean Resources and Security, or Ancors. Australia Awards provides prestigious international scholarships and short courses, which open opportunities for emerging Filipino leaders to pursue postgraduate studies in Australia’s premier academic institutions toward contributing to the development of the Philippines through the implementation of the reentry action plans. The Australian government’s Department of Foreign Affairs and Trade administered the program, in accordance with its development policy on promoting tertiary education through international scholarships, fellowships and short courses, among others. The partnering arrangement will institutionalize, diversify and further expand the existing cooperation between the two entities. DFA

Envoys&Expats BusinessMirror

E4 Thursday, January 23, 2020

EMBASSIES, EVENTS, ETC.

SoKor brings aid to Taal evacuees via Red Cross

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Taiwan donates to Sorsogon for Tisoy survivors

MANILA Economic and Cultural Office Vice Chairman Gilberto F. Lauengco (from left), Sorsogon Gov. Francis Joseph G. Escudero, and Taipei Economic and Cultural Office in the Philippines Representative Peiyung Hsu

AMBASSADOR Han Dong-man and Philippine Red Cross Chairman Sen. Richard J. Gordon KOREAN EMBASSY/PNA

HE Republic of Korea (South Korea) recently donated $200,000, or approximately P10 million, to the Philippines to benefit the 45,000 evacuees displaced by the recent Taal Volcano eruption.

Ambassador Han Dong-man handed the check to Sen. Richard J. Gordon, chairman of the Philippine Red Cross, at its headquarters in Mandaluyong City. Han said the money is his country’s “humanitarian assistance for affected individuals of the Taal Volcano eruption.” Thousands of evacuees who fled their homes are currently staying in various shelters in the province of Batangas. The South Korean government has been providing humanitarian aid to

the Philippines through the PRC as assistance to communities affected by various natural disasters that hit the country in the past years, such as the eruption of Mayon Volcano in February 2018, Typhoon Ompong (international code name Mangkhut) in September 2018, and the October 2019 earthquake in Mindanao. It also provided aid for civilians displaced by the conflict in Marawi City, Lanao del Sur, in July 2017. Ben Cal/PNA

HE Taipei Economic and Cultural Office in the Philippines (Teco), on behalf of the government of the Republic of China (Taiwan) through Representative Peiyung Hsu, recently donated $100,000, or about P5 million, to the local government of the province of Sorsogon. The aid, granted through a check-handover ceremony at the Teco conference room on January 17, will serve as humanitarian assistance for the survivors of Typhoon Tisoy (international code name Kammuri), which lashed the Philippines in December 2019. Manila Economic and Cultural Office Vice Chairman Gilberto F. Lauengco accepted the donation, as Gov. Francis Joseph G. Escudero of Sorsogon witnessed the ceremony. According to Teco, the donation demonstrates strong friendship between Taiwan and the Philippines. Hsu said that as close neighbors, Taiwan has always stood “together with our friends in the Philippines, whenever there is a need.” For their part, Lauengco and Escudero expressed their heartfelt appreciation for the generosity shown

by the government of Taiwan. Escudero pledged to make the best use of the donation for the rehabilitation work in Sorsogon, and looks forward to working with Taiwan in the area of agriculture, higher education and technology to advance the development of the province. He also took the opportunity to congratulate President Tsai Ing-wen on her reelection. The governor, according to Hsu, is a “friend of Taiwan, [being] a staunch supporter for our endeavors since he was a senator of the Philippines. We are very glad that Taiwan can offer our help in return.” In his statement, the Teco representative remarked that, “Looking ahead, Taiwan will continue working with the Philippines to enhance the welfare of [both] our people. We hope friends in the Philippines will render their continued support for Taiwan.” Buddhist Tzu-Chi FoundationPhilippines likewise had distributed cash, rice and blankets from Taiwan to survivors in Bulan and Matnog towns of Sorsogon. It expressed hopes that locals can recover from the disaster and rebuild their homes soon.

GPCCI hails enterprise-based tech-voc educ training accord

Abroad, or AHKs, represented by 140 offices in 92 countries. It is the official representation of German businesses in the Philippines, a bilateral-membership organization with around 300 members, and a service provider to companies in their market entry and expansion.

OFFICIALS of the K to 12 PLUS Project witness the signing of the partnership.

HE German Philippine Chamber of Commerce and Industry (GPCCI) welcomes the signing of the memorandum of agreement between the Technical Education and Skills Development Authority (Tesda) and Philippine Chamber of Commerce and Industry-Human Resources Development Foundation (PCCI-HRDF) to forge a partnership in setting up the nationwide, pre-employment dual education and training system. “Effective dual education and training models developed and implemented together by the industry, vocational-training institutions, as well as Tesda identify relevant industry skills and provide for hands-on training in the companies,” GPCCI Executive Director Dr. Martin Henkelmann confirmed. “We are glad to share our German expertise in skills training with local stakeholders through the K to 12 PLUS Project.” From the part of the GPCCI, President Tristan Arwen Loveres said, “The GPCCI supports this collaboration as it fosters

industry-driven skills development for our young Filipinos. The agreement between Tesda and PCCI-HRDF corresponds with our initiatives in the German governmentfunded K to 12 PLUS Project.” The K to 12 PLUS Project is a joint initiative of six German implementing partners, which include GPCCI, whose complementary strengths and expertise were sought to support the implementation of the Enhanced Basic Education Act of 2013, or Republic Act 10533. Local partners of the K to 12 PLUS Project include various public and private organizations in the Philippines, one of which is the PCCI-HRDF. The memorandum signed on January 16 aims to institutionalize a nationwide implementation of an industry-led skills training. Furthermore, it provides for a competency assessment and certification by the industry. The GPCCI belongs to the international network of German Chambers of Commerce

HUNGARIAN musician József Terék will perform at the Alliance Française in Makati City on January 24. Terék is involved in the preservation and popularization of the tárogató, a unique musical instrument, which is also widely known as the tarragot or Turkish pipe. His show will be part of a series of local events celebrating Hungary’s National Day of Culture. Admission is free of charge on a firstcome, first-served basis. Visit the Embassy of Hungary in the Philippines Facebook page for more information.