Businessmirror July 05, 2019 by BusinessMirror

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Friday, July 5, 2019 Vol. 14 No. 268

Right to security of tenure not absolute–biz groups

By Elijah Felice E. Rosales

@alyasjah

OCAL and foreign business groups are appealing to President Duterte to veto the security of tenure (SOT) bill in a lastditch effort to keep the country’s employment regime in status quo. In a letter dated July 1, business groups asked the President to prevent the SOT bill from becoming a law. They argued its objective was already achieved under Executive Order (EO) 51 and Department Order (DO) 174 of the Department of Labor and Employment (DOLE).

“If passed into law, the [SOT] bill will have adverse effects on the Philippines’s global competitiveness and its capability to create more and better quality jobs for Filipinos,” the letter read. “Both DOLE’s DO 174, which took effect in early 2017, and EO

51, which took effect in mid-2018, already [prohibited] ‘Endo.’ If Endo is dead, therefore, the SOT bill is superfluous,” it added. The end-of-contract scheme, popularly known as Endo, is the practice of hiring and terminating workers after every five months to

“The regulatory framework must be reexamined to make it more flexible to facilitate business and job creation instead of obstructing new forms of employment as what would be the consequence of the SOT bill in the event it is signed into law.”

circumvent their regularization. Business groups also argued the right to a secured tenure in the workplace is “not absolute.” Employers, they said, should still See “Security of tenure,” A2

@ReaCuBM

HE board of the Government Service Insurance System (GSIS) has moved to revoke its authorization on the sale of its Manila North Harbor property pending the assumption of Rolando L. Macasaet as their new chairman. This was revealed by Finance Secretary Carlos G. Dominguez III who Macasaet reported to via mobile messaging. Dominguez said Macasaet told him after the board met on Thursday morning it also accepted the resignation of Jesus Clint O. Aranas as president. Macasaet said the board revoked resolutions authorizing the sale of the property of International Container Terminal Services Inc. and

Philippine Ports Authority “until further review and consultation with all concerned stakeholders.” “In fairness to the board, Aranas always assured the board that this transaction had the approval of PRRD [President Rodrigo R. Duterte],” Macasaet’s message said. He also told Dominguez: “As you instructed, I assumed the OIC position” and that he “will officially advice Malacañang [through] ES [Executive Secretary Salvador C.] Medialdea and you through a formal letter.” Earlier, it was reported that Aranas tendered his resignation as head of the GSIS due to “personal reasons” effective July 2. Before his resignation, Aranas had reiterated the plan of the GSIS to sell its Manila North Harbor property, despite the claims of port

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See “GSIS,” A2

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D.O.L.E. WANTS TO EVALUATE IMPACT OF 14-MONTH PAY By Samuel P. Medenilla @sam_medenilla

HE Department of Labor and Employment (DOLE) said there is a need to carefully study the impact of a bill proposing the grant of 14-month pay to workers. Labor Secretary Silvestre H. Bello III said in a statement that he is reserving his support for the legislation until a study on its impact is completed. “We support anything that benefits our workers and their families. However, we must ensure that the proposal will not cause imbalance between the needs of labor and the capability of employers. We must study it very well,” Bello said. He said the assessment is necessary since the 14th-month pay will cover all companies, including micro, small and medium enterprises (MSMEs). Last Monday, Senate President Vicente Sotto III filed Senate Bill 10, or“An Act Requiring Employers in the Private Sector to Pay 14th-Month Pay.”

GSIS revokes resolution to sell North Harbor lot By Rea Cu

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Sotto also told the BusinessMirthat a House counterpart bill mandating the 14th-month benefit is set to be filed by Reps. Precious Hipolito and Kit Belmonte in order to fast-track simultaneous passage of the 14th-month-pay bill in the two chambers. The Trade Union Congress of the Philippines (TUCP) backed the proposal, saying it will help augment the insufficient income of workers. Employers warned, however, that requiring the private sector to give workers a 14th-month pay will cause inflation to spike and the Philippines to lose its competitiveness against Southeast Asian peers. Employers Confederation of the Philippines President Sergio R. Ortiz-Luis Jr. said institutionalizing the grant of 14th-month pay to workers could injure the operations of MSMEs. MSMEs will apparently be left with two options to shoulder higher labor cost: increase the prices of their products or reduce their work force. ror

Rice tariffs collection at ₧5.9B

IN this BusinessMirror photo, a visitor wears a safety helmet at the Manila International Container Terminal, which is located in a property the Government Service Insurance System (GSIS) wants to sell. However, the GSIS board, during its Thursday meeting, revoked its authorization on the sale of this property pending the assumption of Rolando L. Macasaet as new chairman. NONIE REYES

HE Bureau of Customs (BOC) collected P5.9 billion in tariffs from some 1.43 million metric tons (MMT) of rice imported by traders following the implementation of the rice trade liberalization law in March, according to the Department of Finance (DOF). In a report to Finance Secretary Carlos G. Dominguez III, Customs Commissioner Rey Leonardo B. Guerrero said preliminary data indicated that the Subic Bay port recorded the highest collection of rice tariffs at P1.37 billion. During a recent DOF Executive Committee meeting, Guerrero also reported that the Port of Manila collected P978.51 million in tariffs, followed by the Manila See “Rice tariffs,” A2

US 51.1880 n JAPAN 0.4748 n UK 64.3740 n HK 6.5646 n CHINA 7.4385 n SINGAPORE 37.7548 n AUSTRALIA 35.9749 n EU 57.7349 n SAUDI ARABIA 13.6502

Source: BSP (4 July 2019 )

News

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A2 Friday, July 5, 2019

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PHL gears up for IMO audit of maritime rules

By Samuel P. Medenilla

@sam_medenilla

HE government said it has started preparing for a comprehensive audit of the country’s Philippine maritime regulations which will be conducted by the International Maritime Organization in 2021.

Germany. . . Continued from A12

“serious” quarantine violation and showed that it has a “lousy” system. If Germany wants to regain its export accreditation and resume trade with Manila, Bureau of Animal Industry (BAI) OICDirector Ronnie Domingo said it has to prove that it has improved its quarantine system. “German authorities should be able to convince the Philippine authorities that they have effective measures in place to avoid repeating the same problem,” he told the BusinessMirror via SMS. Piñol on Wednesday ordered the suspension of the system accreditation of all German foreign meat establishment to export meat to the Philippines following the breach of quarantine protocols.

Expansion of ban

PIÑOL said he would sit down soon with the country’s top quar-

antine officials to determine the need to expand the ban and cover other European countries contiguous to Poland. The trade of goods in the EU is borderless, which allows freer and faster exchange of products among member-states, according to government sources. Meat Importers and Traders Association (Mita) President Jesus C. Cham said the import ban on Germany serves a “strong wake-up call” for the Netherlands, Austria and France to strengthen their quarantine system, particularly their documentation processes. Germany, the Netherlands, France, and Austria have been deemed by the DA as high-risk countries as they share common borders with EU states that are already infected with ASF. “The bigger concern is how did the Polish pork pass through Germany’s quarantine system? The veterinary certificate is like a check, it cannot bounce. This is an issue of documentation,” Cham told the BusinessMirror.

Security of tenure. . .

Continued from A1

maintain the power to dismiss a worker who is no longer performing subject to observance of due process. “Security of tenure is a constitutionally guaranteed right of workers and the Labor Code recognizes this. However, the workers’ right to security of tenure is not absolute,” their letter read. Further, business groups explained to Duterte approving the SOT bill could work against the Philippines in the face of a changing world of labor, in which contractual employment is believed to be the future. “The concept of dependent employment is steadily being eroded. Under the future of work, there will be unprecedented rise of independent contractors, telework and a constellation of other Internet-enabled companies,” the letter read. Flexible work arrangements are apparently being adopted by several industries, particularly in manufacturing and logistics, that implementing a blanket ban on contractualization could scare away onshore and foreign investors. Business groups claimed this could worsen joblessness in the Philippines. There are over 2.28 million unemployed Filipinos at present, according to the April 2019 Labor Force Survey of the Philippine Statistics Authority. “In fact, the regulatory framework must be reexamined to make it more flexible to facilitate business and job creation instead of obstructing new forms of employment as what would be the consequence of the SOT bill in the event it is signed into law,” the letter read. Workers are banking on the SOT bill to prohibit all forms of contractualization in fulfillment of the President’s campaign promise to do so. They argued EO 51 and DOLE’s DO 174 outlawed forms of contractual employment that are already prohibited under the Labor Code and existing laws. In the 2019 International Trade Union Confederation Global Rights Index, the Philippines was ranked as one of the world’s worst countries for workers, along with Algeria, Bangladesh, Brazil, Colombia, Guatemala, Kazakhstan, Saudi Arabia, Turkey and Zimbabwe. The Philippines was given a rating of five, which means workers in the country are not guaranteed of their rights. The report also specified banana exporter Sumifru Philippines Corp. and food maker NutriAsia Inc. as violators of workers’ rights. The letter to veto the SOT bill was signed by the Employers Confederation of the Philippines, Philippine Chamber of Commerce and Industry, Philippine Exporters Confederation, Makati Business Club, Federation of Filipino-Chinese Chambers of Commerce and Industry Inc., Philippine Association of Legitimate Service Contractors and the Management Association of the Philippines. It was also inked by the Information Technology and Business Process Association of the Philippines, Philippine Association of Colleges and Universities, Philippine Society of Management Services, Philippine Hotel Owners Association and Philippine Association of Multinational Companies Regional Headquarters. The American, Australian-New Zealand, Canadian, European, Japanese and Korean chambers were also signatories.

President Duterte issued on Tuesday Executive Order (EO) 84 which mandated the creation of the InterAgency Council on the International Maritime Organization Member State Audit Scheme (IMSAS). The council will be responsible for ensuring that the Philippines will be ready for the IMSAS. It will “plan, manage, direct, coordinate, and monitor the corresponding efforts of relevant national government agencies and instrumentalities” so the country will be able to comply with its obligations and commitments to the IMO.

Apology

IN a letter addressed to NMIS Region 7 Regional Technical Director Josefina Rico, ProFood admitted that it was their “unintentional” mistake to include Polish pork with the German meat shipment ordered by JudPhilan. ProFood Export Manager Silvana Maria Pinter-Konemann apologized for it and explained that the mistake was caused by “numerous movements” of meat products in their warehouses in Germany. “The unintentional mistake is the fact there were 26 boxes of frozen pork flat bones [that] were mixed instead of purely from pork cutting fat,” the letter read, a copy of which was obtained by the BusinessMirror. “I am writing to apologize for our intentional mistake that might cause damages to our client JudPhilan Foods Corp. and for whatever purposes this may serve,” the letter added, which was dated June 28. Philippine Association of Meat

Rice tariffs. . .

EO 84 designated the secretary of Department of Transportation (DOTr) as chairman of the council and the Maritime Industry Authority chief as its vice chairman The members of the council are representatives from the Department of Foreign Affairs (DFA), Philippine Coast Guard (PCG), Philippine Ports Authority (PPA) and Cebu Port Authority (CPA). It will be assisted by a Technical Working Group (TWG) comprised by representatives from DFA; PCG; PPA; CPA; Commission on Higher Education (CHED); National Map-

Processors Inc. (Pampi) Spokesman Rex Agarrado said his group has not conducted its own investigation. Agarrado said Pampi concluded that JudPhilan did not order Polish pork and only purchased raw materials from Germany. The Pampi official said JudPhilan will not be removed from his group since the inclusion of Polish pork in the shipment was the exporter’s fault. “In fact, the importer should file a case against the exporter after what happened and to recover the value of the goods,” Agarrado told the BusinessMirror. “And as an association, we might ban the exporter indefinitely.” Mita, Pampi and local hog raisers lauded the government’s move to immediately suspend meat imports from Germany after the incident. The Philippines purchased over 88 million kilograms of meat products from Germany last year, making it the secondbiggest source of imported meat, BAI data showed.

Continued from A1

International Container Port (MICP) with P942.76 million. The Port of Cagayan de Oro collected P754.13 million in tariffs from rice imports, while the Port of Davao recorded P703.93 million. Republic Act (RA) 11203 was signed and approved by President Duterte last February 14 and took effect on March 5. It converted the quantitative restriction on rice into tariffs. Dominguez said RA 11203 is a “proud accomplishment” of the Duterte administration as it took more than 30 years to get Congress to pass a “game-changing” reform. He said liberalizing rice imports will not only make quality rice more affordable and accessible to Filipinos, but will also lower the country’s inflation rate and help farmers become more productive and competitive. According to the DOF, liberalizing rice imports has made the staple food more affordable to Filipinos, as retail prices fell by P10 per kilogram. RA 11203 also mandated the creation of the P10-billion Rice Competitiveness Enhancement Fund (RCEF) to help palay growers and their farmers’ cooperatives transition to a new trade regime. RCEF aims to provide farmers tools and equipment, assistance in the production, promotion, and distribution of certified rice seeds, upgrading of post-

PhilHealth. . . Continued from A12

The DBM issued its circular in line with Republic Act (RA) 11223 or the Universal Health Care (UHC) Act, which calls for the adoption of a higher income ceiling to support expanded benefits that will be implemented under the law. RA 11223 also mandates a schedule of the monthly income floor and ceiling for premium contributions. For 2019, the premium rate is at 2.75 percent with an income floor of P10,000 and ceiling of P50,000; a premium rate of 3 percent with an income floor of P10,000 and ceiling of P60,000 for 2020; and a premium rate of 3.50 percent with an income floor of P10,000 and ceiling of P70,000 for 2021; among others. “In accordance thereto, effective the applicable

harvest storage facilities, credit assistance, irrigation support, and research and development (R&D) support. The BOC-MICP said the DOF will publish a guide for businesses on the rice import process to enable them to take advantage of the liberalized rice importation policy in the country. The MICP said the guide is a product of the focused group discussion (FGD) spearheaded by Finance Assistant Secretary Antonio Joselito G. Lambino II last June 27. The FGD included representatives from randomly selected businesses that are into rice trading even before the passage of RA 11203. “The discussion centered on extracting feedback from the private sector on the proposed information materials on rice importation. The DOF is compiling a resource material that can be used by businesses as a guide into the rice import process if they wish to take advantage of the liberalized rice importation policy in the country,” the MICP statement read. Based on proposals during the FGD, the resource material will be used as an official guide on the rice importation process which will include flowcharts on the methods of importation, the documentary requirements from each agency, an estimated timeframe for every step, and the contact information of the involved offices. Rea Cu month of 2019, i.e., 15 days after publication, or March 8, 2019, the monthly premium contribution shall be at the rate of 2.75 percent, computed straight based on the MBS, with a salary floor of P10,000 and a ceiling of P50,000, to be equally shared by the employee and the employer [government],” it said. An MBS of P10,000 and below at a monthly premium rate of 2.75 percent means P275 with the employee and the employer having to contribute P137.50 each for the HIP. For those with an MBS of P10,000.01 up to P49,999, which translates to a premium of between P275.02 and P1,100, the employee and employer will have to shell out P137.51 to P550 each. Meanwhile, those with an MBS of P50,000 and above, which means a premium of P1,375, will mean that the employee and employer share amounts to P687.50 each.

ping and Resource Information Authority; Environment Management Bureau of the Department of Environment and Natural Resources; Bureau of Fisheries and Aquatic Resources of the Department of Agriculture; Office of Transportation Security of the DOTr, and the Philippine National Police Maritime Group. The TWG will aid the council by submitting the implementation of IMO instrumentalities, and a monitoring mechanism to assess this. “The Overseas Shipping Service of the Marina shall serve as the

Secretariat of the Council,” EO 84 read. The funding for the operation of the Council and TWG will be determined by the Department of Budget and Management. The Philippines is scheduled to undergo the IMSAS in 2021 and every seven years thereafter. The IMSAS will cover the regulations in the following areas: safety of life at sea; prevention of pollution from ships; standards, training certification and watch keeping for seafarers; load lines; tonnage measurement of ships; regulations for preventing collisions at sea.

‘Duterte must endorse economist as Speaker’ By Jovee Marie N. dela Cruz

@joveemarie

O sustain the country’s economic growth until the end of the current administration, a lawmaker on Thursday urged President Duterte to endorse an economist as House Speaker. During the Pandesal Forum held in Quezon City on Thursday, Albay Rep. Joey Salceda said the second half of the Duterte administration will play a big part in the success of the current government. “If he wants to achieve his goals for the country, it is important to have legislative support of the supermajority in the lower chamber,” he said. “All previous administrations’ GDP performed best during its third to fourth year. This year will be the banner of the President, he needs to sustain GDP growth and for the economy to take off,” he added. Salceda reiterated and said Duterte should now intervene and endorse his candidate. He also said the lower chamber needs a leader who will push for the economic measures of the administration. “Rep. Martin Romualdez as a Speaker is good for the economy, as well as the economic and business leaders concerned,” said Salceda who expressed full support to the speakership of Romualdez. “It is very important to a Speaker to mobilize the whole Congress to efficiently and effectively pass all the agenda of the President,” he added. According to Salceda, there are still 20 bills that need to be passed to further strengthen the country’s economy and attract investments. “There are several measures that we really need to pass such as the amendments to the PSA act, amendments to Public Service Act, the proposed Retail Trade Liberalization Act and amendments to Foreign Investments Act,” Salceda said.

Delays

HOWEVER, Salceda admitted that the organization of the House of Representatives is now facing delays due to speakership issue. In the same forum, the lawmaker said there’s little time left after the election of the Speaker since the organization of the

GSIS. . .

Continued from A1

operator ICTSI that the agency only has a “naked title” on the property. In a statement issued on June 26, the GSIS said it is pushing through with the sale of the 672,645-square-meter property through public bidding to help ensure the integrity of the funds of GSIS members. Aranas said the market value of the property is approximately P33.632 billion based on the zonal

lower chamber is first in the agenda when the 18th Congress convenes on July 22. “During the time of [Speakers Manny] Villar, [Jose] de Venecia and [Pantaleon] Alvarez by May or June we already know who will be the next Speaker and chairmen of the committees,” Salceda said. “This is the first time that it [choosing candidate for Speaker] is a little bit late,” he added.

Speakership race

A N A K A LU S UG A N Pa r t y - l i s t Rep. Michael Defensor said Romualdez now has the support of more than 160 congressmen in the speakership race. “I have seen the manifesto of support for Cong. Martin and I saw the signatures of 167 congressmen from different political parties and blocs of the 18th Congress. An initial list of 80 congressmen was shown to the President last month, but the numbers have grown to 167 as of the moment,” Defensor said during the forum. Also, Capiz Rep. Fredenil Castro said Romualdez has the numbers that are more than “enough and determinative to catapult him to the speakership.” At least 153 votes out of 305 lawmakers are needed to secure the lower chamber’s highest position.

Term sharing

DEFENSOR, meanwhile, cautioned his fellow legislators against packaging term sharing and other deals related to the speakership of 18th Congress. “In 1998, President Duterte was one of only five who voted for Joker Arroyo. There was no concession or promise of anything for his vote. In fact, Joker lost and those who voted including then-Congressman and now President Duterte stood proud among his peers,” he said. Sen. Koko Pimentel said the PDP-Laban will opt for a termsharing deal with Taguig Rep. Alan Peter Cayetano if their partymate, Marinduque Rep. Lord Allan Velasco, will be the first to hold the speakership post. Under the term-sharing agreement, Cayetano would occupy the Speaker post for the first 15 months while the remaining 21 months of the 36th month of the 18th Congress will be taken by Velasco. valuation as of May 9 and as reflected in the GSIS books as of May 20. Enrique K. Razon Jr., ICTSI president and chairman, earlier said the GSIS has no right to use the property. ICTSI operates the Manila International Container Terminal (MICT), which is located in the property that GSIS wants to sell. The PPA also questioned the validity of the 43-year-old title, saying that the PPA owns the North Harbor property even if it was registered under the name of the GSIS.

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The Nation

briefs SUSPECTED FOOD POISONING VICTIMS CAN AVAIL OF PHILHEALTH AID HEALTH Secretary Francisco T. Duque III appealed on Thursday to attendees of the 90th birthday celebration of former First Lady Imelda Marcos at the Ynares Sports Arena in Pasig City on Wednesday to seek immediate medical attention at the onset of signs and symptoms of food poisoning. He said the attendees should observe and seek medical attention if they experience bouts of nausea, vomiting, diarrhea, stomach cramps, weakness, fever and chills. Duque issued the appeal following a suspected case of food poisoning that has so far affected 261 individuals after they reportedly consumed a packed lunch of chicken adobo (stew), boiled egg and rice, distributed and consumed during the said event. PhilHealth President and Chief Executive Officer Ricardo C. Morales, meanwhile, announced that victims who are PhilHealth members needing confinement in public or private hospitals can avail themselves of their benefits and expect assistance from the state insurance firm. Nonmembers confined in government hospitals can avail themselves of the point-of-service (POS) program. “We want to assure those affected that in case hospitalization is required, they can bank on their PhilHealth coverage for financial protection. This is consistent with PhilHealth’s mandate to provide responsive health-care benefits to its members at all times, more so during emergency cases where help is needed the most,” he said. Claudeth Mocon-Ciriaco

P.C.O.O. SAYS NO SPENDING IRREGULARITY IN P10-M FEDERALISM INFO FUND

THE Presidential Communication Operations Office (PCOO) on Thursday assured there were no spending irregularities of its P10-million fund for its federalism information campaign. The Palace office, however, admitted there were unexpected delays in the disbursement of the fund to its attached agencies, namely, Philippine Information Agency, Philippine Broadcasting Service and People’s Television Network Inc. “The PCOO could not immediately legally transfer the funds to the attached agencies without certain requirements [from the Commission on Audit],” PCOO said. “Thus, due to this delay and changes in the requirements and deliverables for the campaign, a part of the fund remained unspent,” it added. Samuel P. Medenilla

P.C.G. BOOSTS DISASTER-RESPONSE CAPABILITY WITH 12 HIGH-SPEED BOATS THE Philippine Coast Guard (PCG) is increasing its capacity by more than half as it takes delivery of 12 new high-speed emergency boats this month, bringing its fleet of rigid hull inflatable boats to 32 by the end of July. PCG Commandant Elson Hermogino said the 7-meter assets will function in patrol and interception tasks, transport of crew and equipment, rescue operations and diving support. These, he said, will be particularly helpful during the rainy season. “These new water assets will help us respond more swiftly and effectively, especially during disaster or incident response,” he said. Lorenz S. Marasigan

BusinessMirror

Editor: Vittorio V. Vitug • Friday, July 5, 2019 A3

Amid increasing air strikes, OFWs in Tripoli told to take precautions

By Recto Mercene

@rectomercene

HE Philippine Embassy in Libya has advised Filipinos residing or working near military facilities “to relocate if necessary while taking precautions” following the announcement by the Libyan National Army (LNA) that they will be carrying out more air strikes against military targets inside Tripoli. According to the Department of Foreign Affairs (DFA), 40 people were killed and another 80 were wounded after an air strike at a migrant detention center in Tripoli on Wednesday. The DFA said it is repeating the advisory issued earlier by the embassy in Tripoli shortly after the incident that took place in Tajoura District, about 5 kilometers from a hospital compound, where around 40 Filipino nurses and their dependents are staying. There are an estimated 1,000 Filipinos in the Libyan capital and its immediate outskirts, most of them nurses and other hospital workers. Ambassador-designate to Libya and concurrent Chargé d’affaires Elmer G. Cato said there were no Filipinos reported

among the casualties. “The detention center, which was located next to a military camp, housed mostly African migrants,” he said in his official Tweeter account. Cato said the embassy remains concerned about the safety of more than 40 Filipino nurses and engineers who could not be convinced to temporarily leave their work places, which are in areas where fighting has been taking place. “On Sunday, 11 Filipino nurses sought shelter at the Embassy after fighting again broke out near their hospital south of Tripoli. Another six Filipinos have requested assistance in getting repatriated due to the fighting,” Cato tweeted. On the other hand, he said, 10 Filipino

nurses from a hospital in southern Tripoli near where skirmishes have been taking place “were able to find their way out and made it safely to the embassy.” “It was the soldiers who helped them find vehicles that took them from their hospital in the outskirts of Tripoli to the embassy where they are now safe,” Cato tweeted. Cato said he discussed with Labor Attaché Adam Musa, Special Envoy Mario Chan and Embassy member Francis Enaje on how the embassy can extricate several Filipino workers from a hospital in southern Tripoli “very near where fighting has been taking place.” Cato has been in the midst of the developments unfolding in Libya since he was assigned to Libya early this year. He, along with the rest of the embassy staff, has been holding fort at the Libyan Embassy to continue to provide assistance to the Filipinos in Tripoli. Cato said he hopes that a huge Philippine flag they mounted on the roof of the embassy would be conspicuous enough for the combatants and preclude the possibility that the structure would be bombed. Some of the Filipino migrant workers who were not able to stand the ongoing conflict have asked Cato’s help to be repatriated back to the Philippines. So far, close to a hundred overseas Filipino workers have arrived in the country after being assisted by Cato’s group in Libya.

A4 Friday, July 5, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Group urges TC to lift safeguard duty on cement imports amid price surge

By Elijah Felice E. Rosales

@alyasjah

ABAN Konsyumer Inc.’s urging the Tariff Commission (TC) to lift the safeguard duty on cement imports after domestic prices rose by as much as P10 per 40 kilogram per bag since the protectionist measure was imposed. In an e-mail to the tariff body, Laban Konsyumer President Victorio Mario A. Dimagiba said the safeguard duty of P210 per metric ton on cement should be removed. He argued the time allocated for investigating whether to apply a definitive safeguard measure under the law has already passed. “As of July 3, the final report and findings of the commission have

not been issued and delivered to the secretary of trade and industry,” the e-mail read. “By expressed provisions of [the Safeguard Measures Act] Section 9, the final report shall be issued 120 calendar days from the receipt of the DTI [Department of Trade and Industry] transmittal to the commission, which was on January 23. The law used ‘shall,’ which means

mandatory period for compliance,” it added. Dimagiba also raised the noncompliance of manufacturers to impose a suggested retail price (SRP) on cement, while the safeguard duty is in place, which is stipulated under the DTI order enforcing the trade remedy. As of July 3, Holcim-Excel and Republic cement are priced P235 per 40-kilo bag in Metro Manila, according to the price monitoring report of the DTI. This was higher by P10 from the P225 per 40-kilo bag price of both cement products last December, one month before the DTI order was issued. Prevailing price of Rizal cement also surged to P230 per 40-kilo bag, from P220, while that of Advanced Eagle increased P225 per 40-kilo bag, from P220. “Demand for cement is strong and [manufacturers] cannot meet

the demand. Imports will continue [to enter] and definitive duty will hurt consumers. Local plants will increase their prices and match new prices of landed costs of imports,” the e-mail read. “In our opinion, the Tariff Commission should declare the investigation and release of the report functus officio, or moot and academic, and cancel the safeguard duty immediately for noncompliance [of the Safeguard Measures Act],” it concluded. Manufacturers and importers are awaiting the Tariff Commission’s decision on whether to apply a definitive safeguard measure on imported cement as endorsed by Trade Secretary Ramon M. Lopez The government has imposed a P210 per-metric-ton safeguard duty on cement to protect the local industry from import surge. Market share of imports jumped to 15 percent in 2017, from 0.02 percent in 2013.

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Evaluation of ₧11-billion Sasa Port devt proposal done in Q3–PPA chief By Lorenz S. Marasigan @lorenzmarasigan

HE Philippine Ports Authority (PPA) aims to wrap up the evaluation of the unsolicited proposal of Chelsea Logistics and Infrastructure Holdings Corp. for the development of the Davao-Sasa Port in the third quarter of 2019. PPA General Manager Jay Daniel R. Santiago said his office has completed the initial evaluation of the P11-billion unsolicited proposal. The PPA, he said, will soon forward the proposal to the Department of Transportation (DOTr) for its evaluation. After this, if it approves the proposal, it will then endorse it to the National Economic and Development Authority (Neda) for review. “There will also be a period for negotiations for the terms of the proposal,” he said. “We should be able to conclude this no later than the end of September.”

Briefly discussed earlier by Chelsea President Chryss Alfonsus V. Damuy, the proposal involves the rehabilitation of the existing terminal and the installation of modern equipment in the port. It will be done in four phases, and each phase will serve as an indicator of a certain milestone in cargo and passenger volumes. The proposal also includes the reclamation of land to expand the port for both international and domestic cargo and passenger traffic. It also involves the operation and maintenance of the said port for a period of 25 years. Chelsea is aggressively expanding its business verticals, as it will soon enter the telecommunications market, being part of the winning bidder for the third telco spot. It has also submitted a proposal for the modernization, expansion, and operation and maintenance of the Davao International Airport.

DOE, NREB told to conduct deeper study on green energy tariff program By Lenie Lectura

@llectura

EN. Sherwin T. Gatchalian on Thursday urged the National Renewable Energ y Board (NREB) and the Department of Energy (DOE) to conduct more studies on the planned green energy tariff program. “The DOE and NREB must conduct a careful study on the program, especially when it comes to the implementation of the green energy tariff rate, taking into consideration the

declining costs of RE [renewable energy] technologies,” the senator said. He added: “Will this new tariff require subsidy and, if so, how much will the rate effect on consumers be? These are some of the things that the DOE need to thoroughly study before they push through with the plan.” Further studies, he added, would ensure success and prevent any unnecessary pass-on charges to consumers. Energy Secretary Alfonso Cusi said earlier that his office and NREB

are crafting a new program that seeks to build an RE portfolio of 2,000 megawatts (MW) in 10 years. “We want to build 2,000 MW of RE in 10 years. DOE has already asked NREB to review the concept of giving an allocation to RE. DOE will make a green energy tariff rate that will be auctioned among them. We will put a ceiling and then compete sila sa rates pababaan [on who could come up with the lowest rates]. It’s not per technology, but rather per type of power if peaking or mid-

merit,” explained Cusi. NREB is the advisory body tasked by the law to recommend policies, rules and standards to govern the implementation of the law, which granted fiscal and nonfiscal incentives to RE projects. Growing the RE sector is a crucial factor for the Philippines to achieve energy security by 2040. Gatchalian said the DOE and NREB collaboration is a welcome development, “putting [DOE] on track of its energy direction.”

The senator recalled that during the last committee hearing on energy security, the DOE painted a grim picture that the share of renewables in the country’s energy mix is projected to drop to 17 percent in 2040, from 36 percent in 2017, under its businessas-usual scenario. “Hopefully, through the new DOE and NREB proposal to build an RE portfolio of 2,000 MW by offering a green energy tariff, we will be able to grow the share of renewables in our energy mix,” said Gatchalian.

The proposed RE capacity auction veers away from the feed-intariff (FiT) program, a system that provides guaranteed payments in the form of power rates given to RE developers for 20 years. FiT is basically an incentive in the form of fixed rate per kilowatthour (kWh) for emerging power sources such as solar, wind, biomass and hydro. It was meant to encourage RE developers to invest at the initial stage and hasten deployment of RE.

DOE taps Meti’s technical assistance for micro-grid power project in Mindoro

HE Department of Energy (DOE) and the Ministry of Economy, Trade and Industry (Meti) of Japan are looking into the possibility of putting up a microgrid system in Mindoro. Many communities in Mindoro remain without access to power, while those with electricity have to make do with unreliable services. Mindoro is the seventh-largest island in the Philippines with a total land area of 10,571 square kilometers and a population of about 2 million people. The DOE and Meti may review Mindoro’s Power Development Master Plan as a continuation of the power sector Technical Cooperation Agreement (TCA) signed

in June 2018. Under the proposal, the DOE has requested Meti, together with Japanese firm KPMG AZSA Llc., to provide technical assistance for the formulation of a comprehensive and integrated Power System Development and Operational Plan for Mindoro and help build capacity toward the total electrification of all households in the island, especially the poor villages and communities in the peripheries of the remote uplands and coastal areas through the introduction of the microgrid system. A microgrid is a small-scale power system able to provide stable power supply to offgrid areas by combining distributed power

sources, such as diesel generators, solar power, wind power and storage batteries. “Providing stable and reliable power in offgrid areas remains a considerable challenge to our goal of total electrification. Mindoro is one of those island provinces that has been plagued with power problems for decades,” Energy Secretary Alfonso G. Cusi said. “With the help of Meti, we will be able to undertake a comprehensive study of the Mindoro grid, and assess the feasibility of introducing a microgrid system as a source of stable power. If everything goes well, Mindoro would serve as an electrification model for the rest of the off-grid islands in the Philippines,” he added. Lenie Lectura

SBMA sets ₧133.5-M upgrade of Subic SEA Games venues

By Henry Empeño | Correspondent

UBIC BAY FREEPORT—At least P133.5 million will be spent by the Subic Bay Metropolitan Authority (SBMA) to upgrade the sports facilities here in the upcoming 2019 Southeast Asian (SEA) Games. SBMA Chairman and Administrator Wilma T. Eisma said massive upgrading would have to be undertaken at sports facilities like the Remy Field and Subic Gym here in time for Subic’s cohosting of the sporting event from November 30 to December 11. The SBMA chief said the quality of the sports venues in Subic would significantly define the SEA Games experience for delegates, as well as the general impression of how the Philippines hosted the event. “That is why we want to make sure that our facilities will be at par with SEA Games standards,” Eisma said. “We will be hosting foreign athletes, and giving them a great venue would also mean a great tourism calling card for Subic.” For this purpose, Eisma said the Subic agency had signed agreements with the Department of Public Works and Highways, with the SBMA as project fund source and DPWH as lead implementing agency. Under the agreements, DPWH will prepare all the plans, designs, technical specifications and cost estimate for the building construction, as well as hire contractors for the projects. It will also provide the SBMA with project status reports from contractors to serve as bases for payment. Remy Field, which contains a track oval, will get an upgrade with a new nine-lane track from the previous six, as well as a covered viewing stand. It will be rehabilitated at a cost of P127,805,000. Meanwhile, the Subic Gym will get a new façade and interior upgrade at the price of P5,700,000. Upgrading of the Subic Bay Exhibition and Convention Center will be handled by DPWH national office, it was learned. Despite the onset of the rainy season, Eisma said Subic preparations for the 30th edition of the biennial competition are “right on schedule.” Along with New Clark City, Metro Manila, and the Batangas, La Union and Tagaytay cluster, the Subic Bay Freeport will be the venue

ARTIST’S perspective of the proposed new façade for the Subic Gym

for some 523 events in 56 sports fields scheduled in the 2019 SEA Games. Some 9,840 athletes from the 11 countries comprising Southeast Asia are expected to participate in the competition. For the 16 games to be played in Subic, four SBMA-controlled and four privately held venues will be used. The SBMA venues are Remy Field, which will be used for training and cultural presentations; Subic Bay Sports Complex for sepak takraw, beach volleyball and beach handball; Subic Bay Exhibition and Convention Center for muay Thai, pencak silat and table tennis; and the SBMA Boardwalk for triathlon, duathlon and modern pentathlon. The others are Subic Bay Yacht Club for sailing and windsurfing; Kamana Sanctuary Resort for traditional boat race and canoe and kayak; Subic Bay Travelers Hotel for chess; and Acea Subic Bay resort for rowing. Eisma said that in most venues here, the SBMA will provide lounges, practice areas, medical stations, dressing rooms, media interview areas, and even prayer rooms for use of the various sports delegations. Subic also served as venue in the last SEA Games hosted by the Philippines 14 years ago. This was for four out of the 40 sports contested in the 1995 Games: archery, canoeing, sailing and triathlon.

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

The World

Trump wants US to start manipulating the dollar

A SHINGTON—President Donald J. Trump on Wednesday accused China and Europe of playing a “big currency manipulation game.” He said the United States should match that effort, a move that directly contradicts official US policy not to manipulate the dollar’s value to gain trade advantages. In a tweet, the president said if America doesn’t act, the country will continue “being the dummies who sit back and politely watch as other countries continue to play their games—as they have for so many years.” Trump’s own Treasury Department in May found that no country meets the criteria of being labeled a currency manipulator, although the report did put China and eight other countries on a watch list. A country manipulates its currency when it drives down the value to make its exports cheaper and foreign imports more expensive. As a candidate in 2016, Trump repeated ly charged that China was manipulating its currency and as president he would immediately label China as a currency manipulator.

However, after taking office, Trump’s Treasury Department has issued five reports on the subject, required by law every six months. In each report it said no country met the criteria to be labeled a currency manipulator. Trump’s tweet seemed to have no impact in currency markets, a situation that would likely change i f Tre a s u r y S e c re t a r y St e v e n Mnuchin began threatening to use currency manipulation to drive down the dollar’s value. The Treasury secretary has the job of commenting on the dollar’s value and also implementing intervention to buy or sell dollars in currency markets to influence the dollar’s value. US administrations for decades have pledged in international communiqués not to intervene in currency markets for the purpose of influencing trade flows. A weaker dollar would boost US exports but could run the risk of causing foreign investors who are helping to finance the federal government’s $22-trillion national debt to move their investments elsewhere to avoid the risk of currency depreciation lowering their returns. AP

Boeing to pay $100 million to crash families, communities

OEING said Wednesday that it will provide an “initial investment” of $100 million over several years to help families and communities affected by two crashes of its 737 Max plane that killed 346 people. The Chicago-based company said some of the money will go toward living expenses and to cover hardship suffered by the families of passengers killed in the crashes. Boeing faces dozens of lawsuits over the accidents. Relatives of passengers on a Lion Air Max that crashed off the coast of Indonesia agreed to try to settle through mediation, but families of passengers killed in an Ethiopian Airlines crash are waiting until more is known about the accidents. Preliminary investigations point to the role played by new software that pushed the planes’ noses down. Boeing is updating the software to make it easier for pilots to control, but the company doesn’t expect to submit its work for final regulatory approval until September. Lawyers who are suing Boeing on behalf of passengers’ families said the new $100 million promise won’t stop them from demanding that Boeing provide details about how the plane and the new flight-control software were developed. Some of them discounted the amount of aid. “For the totality of these losses, that is a very small number,” said Robert Clifford, who represents relatives of those killed in the March crash of an Ethiopian Airlines Max. “I wouldn’t even say it’s a good start.”

Boeing didn’t give many details about the financial help. It did not say how much will go to families and how they will apply for aid. The company said it will work with local governments and nonprofits on programs and economic development to help affected communities. “We, at Boeing, are sorry for the tragic loss of lives in both of these accidents...and we hope this initial outreach can help bring them comfort,” Boeing Chairman and CEO Dennis Muilenburg said in a statement. The CEO added that the company is focused on winning the trust of airlines and the f lying public in the months ahead. Nearly 400 Max jets at airlines around the world have been grounded since mid-March. In April, Boeing reported a $1-billion charge against earnings because of higher production costs for the Max. Analysts expect more charges will follow, including compensation for families and for airlines that have lost the use of the planes until regulators clear them to fly again. Thomas Demetrio, a lawyer with cases in both crashes, called Boeing’s announcement Wednesday “a PR move” that won’t affect compensation for families. “I would like it to go to making the plane safer,” he said. The lawyers said Boeing didn’t provide enough details about how the money will be distributed and spent. They added that Boeing did not tell them in advance about the announcement. AP

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Friday, July 5, 2019

Rouhani’s threat: ‘Iran will enrich uranium to any amount we want’

EHRAN, Iran—Iran’s president warned that Tehran will increase its enrichment of uranium to “any amount that we want” beginning on Sunday, putting further pressure on European nations to save its faltering nuclear deal and offer a way around intense US sanctions. President Hassan Rouhani’s threat, combined with Iran surpassing the stockpile limits of the 2015 atomic accord, could narrow the estimated oneyear window it would need to produce enough material for a nuclear weapon, something Iran denies it wants but the deal sought to prevent. But as tensions rise a year after President Donald J. Trump unilaterally withdrew America from the deal, it looks unlikely that Europe can offer Iran a way to sell its oil on the global market despite US sanctions. All this comes as the US has rushed an aircraft carrier, B-52 bombers and F-22 fighters to the region and Iran recently shot down a US military surveillance drone. “Be careful with the threats, Iran. They can come back to bite you like nobody has been bitten before!” Trump tweeted in response to Rouhani’s warning. On Wednesday, Iran also marked the anniversary of the US Navy shooting down an Iranian passenger jet in 1988, a mistake that killed 290 people and shows the danger of miscalculation in the current crisis. “The Trump administration is pushing the center of Iranian politics to the right at the determent of the Iranian people and the entire region,” said Ali Vaez, an Iran analyst for the International Crisis Group. “Rouhani is clearly at the end of his rope and has no choice other than green lighting further escalation.” Rouhani, still viewed inside Iran as a relatively moderate cleric in the country’s Shiite theocracy, has taken an increasingly hardline tone in his remarks to the West. Particularly, he and others in his administration target European signatories to the nuclear deal for not doing enough to ease restrictions on Iran’s oil and financial sectors. That continued Wednesday in a televised address to his Cabinet. His remarks seemed to signal that Europe has yet to offer Iran anything to alleviate the pain of the renewed US sanctions targeting its oil industry and top officials. The deal saw Iran agree to limit its enrichment of uranium to 3.67 percent, which is enough for nuclear power plants but far below the 90 percent needed for weapons. It also limited its stockpile of enriched uranium to 300 kilograms

(661 pounds). In exchange, Iran saw crippling economic sanctions lifted. But after Trump withdrew from the deal, those sanctions and even more-stringent newer ones took effect. On Monday, both Iran and the UN’s nuclear watchdog agency confirmed that Tehran had breached that stockpile limit. Rouhani some two months earlier set the Sunday deadline that Iran would increase its enrichment of uranium. Wednesday’s remarks underlined that. “From July 7 onward, the level of our enrichment will not be at 3.67 percent anymore,” Rouhani said. “We will put aside this commitment as much as we want to and to any level we think is necessary and we need.” However, Rouhani’s remarks, while strident, seemed to still insist last-minute diplomacy could be possible.

“Our advice to Europe and the United States is to go back to logic and to the negotiating table,” he said. “Go back to understanding, to respecting the law and resolutions of the UN Security Council. Under those conditions, all of us can abide by the nuclear deal.” There was no immediate reaction in Europe, where the EU just the day before finalized nominations to take over the bloc’s top posts. On Tuesday, European powers separately issued a statement on Iran breaking through its stockpile limit, calling on Tehran “to reverse this step and to refrain from further measures that undermine the nuclear deal.” Vaez, the Iran analyst, said the current state of the deal forced Rouhani to shift right, while also highlighting the limitations faced by Europe. “It is a pity that despite its goodwill and efforts, Europe fell short of preserving an agreement that incarnates European belief in multilateralism,” he said. The heightened tensions between the US and Iran have seen a series of incidents spiral across the wider Persian Gulf. Mysterious attacks have struck oil tankers near the Strait of Hormuz, which the US and Israel blame on Iran, although Tehran denies involvement. Yemen’s Iranian-backed Houthi rebels have launched a series of bomb-laden drone attacks on Sau-

di Arabia. Iran also shot down an over $100-million US military surveillance drone on June 20, nearly sparking a retaliatory American strike. Iranian state TV reported that the powerful Imam Reza Foundation, a religious body that manages vast endowments and businesses across Iran, awarded medals to those who shot down the US drone. Meanwhile, relatives of those killed in the 1988 downing of Iran Air Flight 655 by the US Navy marked the day by visiting the site in the Strait of Hormuz where its debris fell. Iranian TV showed video of the mourners as armed Iranian Revolutionary Guard fast boats patrolled around them. They tossed gladiolas and roses into the strait from the boat and by helicopter as some wept. “Thirty years of being an orphan!” one woman screamed. Others chanted: “Death to America!” Just after dawn on July 3, 1988, the USS Vincennes chased Iranian speedboats into Iranian territorial waters after they allegedly shot at an American helicopter. It began firing at the Iranian vessels there. The Vincennes then mistook Iran Air Flight 655, which had taken off from Bandar Abbas, Iran, heading for Dubai in the United Arab Emirates, for an Iranian fighter jet. It fired missiles, killing all 290 people on board. The US later would give USS Vin-

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Editor: Jennifer A. Ng • Friday, July 5, 2019

Traders offer lower prices for Luzon corn By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Philippine Maize Federation Inc. (PhilMaize) said corn growers in Northern Luzon are now complaining of falling farm-gate prices, as traders have slashed their buying prices following the government’s proposal to import corn. PhilMaize President Roger V. Navarro said unscrupulous traders took advantage of the government’s plan to import 300,000 metric tons (MT) of corn in reducing their quotation for the local grain. Citing reports he received from PhilMaize members in Tarlac and Pangasinan, Navarro said, the average farm-gate price of corn has fallen below P13 per kilogram, from P15 per kg in previous weeks. “The importation is not yet approved and yet some unscrupulous traders are already manipulating the prices. In Tarlac and Pangasinan, where farmers have started harvesting, the price is below P13 per kg,” he told the BusinessMirror. “And that is due to the traders.” The Department of Agriculture (DA) is asking the Tariff Commission (TC) to allow the importation of 300,000 MT of yellow corn at zero tariffs to plug the shortfall in local supply and pull down the costs of animal feeds. However, PhilMaize has thumbed down the duty-free importation of yellow corn—one of the main ingredients used in manufacturing animal feeds. PhilMaize said it supports the purchase of imported yellow corn due to the shortfall in domestic supply, but at a lower tariff rate. The drop in the farm-gate prices of corn was one of the concerns aired by PhilMaize during the last TC hearing on the proposed duty-free importation. During the hearing, Navarro said mere pronouncements that the Philippines will import corn could adversely affect the farmgate price of yellow corn, especially during harvest. “Our only appeal to both traders and even to feed millers is to have unity. We hope that there is no manipulation of prices because we will not move forward if that would be the case,” he said. “Corn farmers would be discouraged to plant due to low prices and that would be a bigger problem for all of us. We appeal to traders to not take advantage of the proposed importation,” he added. Navarro also said traders should not manipulate prices at the proposal to import corn as the shipments will not go to members of PhilMaize but to the members of the Philippine Association of Feed Millers Inc. “And even if the importation would be approved, I think the shipments will arrive only by the first quarter of next year,” he said. “So there’s no reason to manipulate the prices now.” Livestock and poultry raisers and feed millers have been complaining of the high retail prices of yellow corn. Prices rose as typhoons and El Niño destroyed standing crops in major corn-growing areas.

Nueva Ecija farmers to grow special rice

ARMERS in Zaragoza, Nueva Ecija, will plant special rice to supply the demand of rice cake vendors in the province and in Tarlac, according to the Philippine Rice Research Institute. PhilRice, an attached agency of the Department of Agriculture, said farmer-members of its Rice Business Innovations System (RiceBIS) Community Program recently planted special rice in a demo farm managed by the Ugat-Uhay Farmers Association (UUFA). Joel Pascual, PhilRice community development facilitator, said the association selected special rice because special rice cake vendors place a premium on the variety. With 40 farmer-participants, the program involves seasonlong capacity enhancement on agripreneurship and Farmer Business School to help them increase their income from rice farming. Pascual also said farmers can benefit from economies of scale that lowers the cost per unit when palay is sold in bulk, which makes palay selling more attractive to bigger buyers, such as consolidators and millers. “When realized, This model will pull the farmers out of being trapped in the non-lucrative small-scale palay production. Aside from palay trading, organized farmers can also try other enterprises, such as labor and machine contracting, input selling, seed production, rice milling, wholesaling and retailing,” he said in a statement. Since wet season last year, UUFA had established demo farms in partnership with PhilRice to test and exhibit technologies, including rice varieties and machines, such as mechanical transplanter and drum seeder. UUFA’s neighboring RiceBIS partner-cooperative, Pinagbuklod na Adhika Agricultural Cooperative, already handles multiple enterprises including inputs selling, custom service facilities provision and processed-rice products selling, such as rice and mung bean brew, brown rice and milled rice.

A10 Friday, July 5, 2019 • Editor: Angel R. Calso

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BSP’s effort to serve a hidden population

ANGKO Sentral ng Pilipinas Governor Benjamin Diokno’s announcement on Wednesday about impending changes to our peso bills was a welcome news to a particular group of people that stands to benefit from this development: The blind and visually impaired. That’s because the Philippine banknotes to be released in the first quarter of 2020 will have additional security features and will be helpful to the elderly and visually impaired. As Diokno announced, the new peso bills will be the first that allow blind people to distinguish one denomination from another—something they can’t do now, since all our paper currency is the same size, shape and feel. That’s why it’s impossible for blind Filipinos to identify or count money without the assistance of another person. “The upgraded security thread and anti-copying and anti-scanning features will improve counterfeit deterrence. While the incorporation of tactile marks is meant for the elderly and visually impaired and is part of our commitment to promote broad and convenient access to high-quality financial services to the Filipino people,” Diokno said during the launch of New Generation banknotes that bear his signature. Diokno, who succeeded former BSP Governor Nestor A. Espenilla Jr. who succumbed to cancer in February, launched the banknotes during the Central Bank’s celebration of its 70th anniversary as the country’s central monetary authority and nearly four months after he took his oath of office on March 6. Improvements on the New Generation banknotes include the upgraded windowed security thread with unique color and design per denomination, anti-copying and anti-scanning features and incorporation of tactile marks. An article in money.com—“How Other Countries Help the Blind Tell Money Denominations Apart”—gives an idea how governments print blind-friendly money. It said the Australian dollar tackles the accessibility issue in a very simple method, by making larger denominations not simply larger, but longer. They also have strong colors and contrasts for the visually impaired. “The euro banknotes were designed with heavy input from Blind organizations and have a very simple distinguishing feature: big bills are big; little bills are little. The notes have some intaglio printing, which gives them relief marks that can be felt. The €200 and €500 bills have special tactile marks on them as well, for added security and assuredness when dealing with such large amounts,” the article said. In Asia, Hong Kong’s currency has three of the hallmark features typically seen: intaglio printing, different sizes and different colors. Nobody is mistaking a HK$1,000 for a HK$500. Japan uses special intaglio-printed tactile marks and each bill is a different size, making it easy for blind Japanese people to identify and count money. The Department of Health said over 2 million people nationwide are blind or suffering from poor vision. In 2017, it said an estimated 332,150 Filipinos are bilaterally blind while the number of persons with bilateral low vision has reached 2,179,733. More people are expected to have significant vision loss because of aging and the prevalence of diabetes in the country. Though blind Filipinos have figured out work-arounds, such as methods of folding bills to tell them apart, challenges around our peso bills have long been an unexpressed issue. That’s why our hidden population of blind and visually impaired welcomed with joy Diokno’s announcement that our new currency will allow them to tell peso bills apart by touch. Since 2005

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TELLTALES

T cost the British taxpayers $3 million to renovate Prince Harry and Duchess Meghan’s new home by converting Frogmore Cottage into a single dwelling to accommodate the Duke and Duchess of Sussex. Frogmore was previously made up of five dormitory units, which were used as staff house since it is close to the Windsor Castle. The expensive and complicated project turned the five separate buildings into a huge five-bedroom house. The spruce up includes the purchase of a luxury copper bathtub that costs £5,000. The royal couple definitely needs more than a cottage with some measure of comfort and luxury living especially that we can expect more “tadpoles” coming. The couple moved into their “cottage” a month before little Prince Archie Harrison was born in May. It is providential that the Philippines does not have a King as its Head of State, otherwise we will have to maintain several palaces with our Kings’ propensity for more partners. “Isang Reyna pero maraming may bahay.” nnn

ONE of the late Henry Sy’s enduring legacies is the SM Foundation, which provides scholarships to thousands of students all over the

country every school year. Successful candidates are enrolled in partner colleges and universities strategically located in big cities in the Philippines to take up their chosen course, including accounting, IT, engineering, education and technical-vocational courses. The scholarship program comes with full free tuition, monthly allowance and parttime employment opportunities during Christmas and semestral breaks. Tatang, one of the richest people in the world, died in January this year but apart from the successful businesses and establishments that now dot our business landscape, he will be remembered by future generations for his lasting contributions to lift our poor youth from poverty through education. His words will continue to reverberate and serve as inspiration to our aspiring young Filipinos: “You are young with the future before you. Remember the

young boy who arrived in Manila many years ago, a stranger with nothing to his name…. If I can do it, the young people of today can do it too.” I am sure that the over 9,000 products of his scholarship program who are now professionals and entrepreneurs will not fail him. nnn

OWNING a home is every family’s dream, but millions of Filipinos continue to struggle realizing it. The current level of disposable income of the lower- to middleincome class will not allow them to allocate money for housing. Even the cost for socialized housing is unaffordable to many low-income earners. For instance, the Balai Housing Program being sponsored by the Housing and Urban Development Coordinating Council, at a cost of P750,000 per unit, is still unaffordable to poor families that have an average annual income of P267,000, based on the 2015 Family Income and Expenditure Survey. Many still find it steep to pay for the equity and the monthly amortization required. A housing unit in “Bistekville” housing project in Quezon City sponsored by the Quezon City government and Phinma Property Holdings Corp. that is available to local informal-settler families costs P400,000, with a monthly payment of more or less P2,700. It is admirable that QC and some progressive cities now provide housing programs to their informal settlers. Such efforts somehow improve the squalid and blighted conditions of

Respect that comes from humility

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

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Owning a home remains an elusive dream for poor Filipinos

Rev. Fr. Antonio Cecilio T. Pascual

SERVANT LEADER

ROTHERS and sisters, there truly is no guarantee that having higher education, prowess in speaking, or having wealth and power allows someone to show respect toward one’s fellowmen. These past few days, there’s news about our leaders’ commonplace speeches to address those who question what they are doing (and what they aren’t). For example, when Vice President Leni Robredo commented on the Department of Foreign Affairs or DFA’s cancellation of all “courtesy diplomatic passports” of former officials and diplomats—following the denial of entry of former DFA Secretary Albert del Rosario in Hong Kong—Foreign Affairs Secretary Teodoro Locsin Jr. attacked our vice president. It was, as they say,

exceedingly “below the belt” that Mr. Locsin called the second-highest leader of our country a name we cannot mention in this article. In his tweet, he even asked if anyone would be kind-hearted enough to give VP Leni a brain. After several days, his boss, President Duterte, then uttered insulting words to his fellow public servant, Supreme Court Associate Justice Antonio Carpio. Duterte described the Supreme Court Justice “so stupid” after Carpio said that foreign fishermen must not be permitted to

take all the ocean resources within our exclusive economic zone. The President added that he never “believed in crazed” Justice Carpio. We all know that Justice Carpio is one of those who believe that the Philippines must preserve its right in the West Philippine Sea, while our President is the one who primarily defends China every time the Chinese fishermen are shown in the news committing wrongdoings. “Follow the leader” is the favorite motto of some incumbent officials in the government. It would be good if they follow their leader in good service, honorable speaking and actions and affirmation for what is right and just for the people. But this is not what is happening right now. They follow their leader’s “toughened-up” attitude to hide their own failure. Our current leaders may reason out—as well as their solid supporters—that they would prefer the people in the government to be frank and rude in speaking as long as they are taking actions, rather than having leaders who are calm and well versed in speaking but aren’t efficient in taking action.

our inner cities. On the other hand, it was reported last weekend that an ultra luxury residential project will be launched in Ayala, which is considered the glitziest and most expensive piece of real estate in the country. Appropriately, it will be dubbed as “The Estate” since it is a property that will be treasured for generations. It will consist of 188 units, with the lowest price at P90 million for a 151-square-meter twobedroom unit; and the most expensive at P450 million for a 700-sq.m four-bedroom unit. No wonder the owners describe it as “the jewel of Makati skyline.” I suggest that the BIR examines the returns of all the unit buyers of The Estate and that the owners be required to put up socialized housing and mass housing projects as part of their corporate social responsibility. The cheapest unit in The Estate can buy 225 Bistekville units and the most expensive can buy 1,125 Bistekville units for slum dwellers. nnn

THE housing conditions show the yawning gap between the wealthy and those who are not sharing in the wealth. Closing this wide disparity should be our priority, otherwise we shall cultivate the seeds of discontent and social instability in our country. Let me prick the conscience of the rich. You can’t bring your wealth to heaven or hell. Money can’t buy you happiness, but as my good friend Justice Noel reminded me, it’s more comfortable to cry in a MercedesBenz than in a pedicab.

But what have our leaders’ sharp tongues done? Can’t proper speech be accompanied by immediate action? In a videoconference shown in 2017, Pope Francis shared a reminder for the ruling people about their duties. He said: “The more powerful you are, the more your actions will have an impact on people, the more responsible you are to act humbly.” For our Pope, humility is far more important than having wisdom, skill and ability. Humility is what we first see—or hear—in the words pronounced by the people who swore to serve the people. Brothers and sisters, in these hard times of finding leaders that are paragons in speaking respectful words and who rule with humility, we ourselves, as much as we can, must show respect to our fellowmen, respect that comes from humility. Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph and follow its Twitter and Instagram accounts @veritasph and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

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he World Bank published in 2015 the report “Enhancing Financial Capability and Inclusion in the Philippines—a Demand-side assessment.” It was based on a survey conducted in 2014 covering 3,000 respondents in an attempt to profile, understand and compare the financial capabilities of Filipinos. The World Bank defined financial capability as the capacity of individuals to act in their best financial interests given the socioeconomic and environmental conditions. Capacity here includes knowledge/literacy, skills, attitudes and behavior with respect to understanding, selecting and using financial services.

omething tells me the hot, searing days are over. Outside the gate to my old apartment, a heady, heavy wind prevails over the stench of this big city. It is not a wind that comments on how diminished or majestic life can be; it is more kindred to the breeze that assures comfortable blanket nights ahead. It is the wind of memory.

There are three aspects included in the report, but we will focus only on the financial capability aspect. Using a seven-question basic financial literacy test, the report showed that the average score of Filipinos is about 3.2 out of seven questions. This means that the respondents could only answer less than half of the questions correctly. Worst, about 20 percent of the respondents did not answer correctly. The most difficult concept for Filipinos is compound interest, where only 29 percent of the respondents was able to answer correctly. When cross-tabulated for socioeconomic status, those having low financial literacy scores are those who did not save as a child, nonhousehold heads and men. As regards retirement, less than 25 percent of the surveyed aged 60 and below are prepared for their old age. The study also showed that those who are not prepared for old age are “not worried” about their future. These results actually validated a continuing research that my colleague Jeremaiah Opiniano (PhD student at University of Adelaide) and I have been working regarding financial behaviors of Filipino migrant workers, their families and their communities. From 2011 to the present, we have studied about nine municipalities across the country and conducted surveys and focused group discussions to find out how remittances can be channeled for development purposes at local government levels. Similar to the World Bank study, we found that less than half of respondents are able to answer correctly questions about loans and prices, and those with migration experience have more correct responses than those who do not have any migrants in the family. When asked where they get their information about handling money, the majority said that they get it from their own ideas. They also rated their money handling skills as good and when asked if they need help in handling money, they responded in the negative. We then asked them if they record their income and expenses—the majority answered that they do not record their income and expenses but they have a general idea of how money enters and goes out of their family. Both studies, and I am certain there are a lot more out there, will conclude that our society is in dire need of a good financial education. In the World Bank study, they found that financial capacity improves with the level of education. Toward this the government has initiated a number of policy reforms and advocacies to increase financial awareness among the population and especially the young. Republic Act 10922 4 Components of a True Investment

Any investment must have four components. It must have risk, return, liquidity, and tax (a true investment has to be registered with the government and should be subject to some kind of an income tax). A quick analysis should tell us that if any one of the four components is missing —consider that as a scam. mandated the celebration every second week of November of the Economic and Financial Literacy Week to develop the national consciousness. Likewise, one of the offshoot of the World Bank study is that the Bangko Sentral ng Pilipinas, BDO Foundation and the Department of Education have partnered to develop financial literacy materials for use in basic education. Since we are combatting a challenge that begins from childhood, it will not be enough to go and fight it at the school level. We must respond to this challenge across the lifecycle. In an Economist magazine article written in the 1990s, it is said that people make decisions based on recent data. We have short memories that even if we know something looks like a scam, we tend to think that it is not. Also, for matters concerning investments, we think in inductive manner (using specific cases then relating to general situation) because understanding the bigger picture is expensive both in terms of time and money. This is why we easily believe when someone (who is credible to us) said her/his investments got a 100 percent return in a month’s time. In many scams, people do not bother checking the company, products or services that are being offered. They rely on the word of mouth/credibility of someone they know who already gained out of it. I have developed the following table to analyze any investment offer. Any investment must have four components. It must have risk (the probability of losing the investment), return (the possible earnings out of the investment), liquidity (how soon can the investment be pooled out) and tax (a true investment has to be registered with the government and should be subject to some kind of an income tax). A quick analysis should tell us that if any one of the four components is missing—consider that as a scam. This takes away any personal and emotional opinion, just a good old checklist. A good financial advisor should be able to explain these four components in any solicitation that she/he is offering. In the end, the best way to analyze a scam is when one is too good to be true, then it is not true.

I have been reading a lovely book about Paz Marquez Benitez. It is a collection of her letters and writing with introduction and annotation by her own daughter, the equally significant Virginia Benitez Licuanan. With the book, the clan of the Benitezes and the Licuanans are blessed with the fate of good remembrances. But, if this book can only be useful and important to those related in social class and lineage to Paz Marquez Benitez, then the book is limited in its appeal. But that is not so: The book is filled with guides to a past—a gilded past when politicians had all the chance to becoming statesmen and many did so. Published in 1995, the book came out when this nation was on a rebound from the tragedies and opera buffa brought about by the dictatorship and the long martial law years. I am reading it—actually rereading —presently when the country is losing any inspiration, when the huge number of people are at a loss with the impunities committed by the present administration, with the vulgarity and mercenary actions of even those we thought had enough classical education in them to remind them about the goodness of humanity and, therefore, the command to be good themselves, when the nation and its entire geography is being dissipated not through the mercy of Nature but via the lack of wisdom and political will of the many whose ignorance and vacuity in spirit are organic to their corrupt individual statuses. The book on Paz Marquez Benitez, the erudite and the romantic behind

Dead Stars, the first short story in English written by a Filipino, is also history. It is a historical account not saddled by the burden of deconstruction. The book does not pretend to talk about the masses; it tells the story of a small number of families who, by their socioeconomic status and intelligence as well, ran the fledgling republic or, to be precise, Commonwealth. Thank god, I am not a historian. Good history is not always linear. One can discover a material document at a certain point and whatever that material contains will be the beginning of the consciousness of that individual. Only writers who believe in the dullness of linear storytelling are saddled with the angst of imposing the consecutive and the sequential. History is discovered day by day; artefacts are studied and analyzed not in series but upon discoveries, and, later, serendipities. Rereading now the book on Benitez is going into her metaphor of the dead stars. The information and knowledge that had been handed down to us may not be alive anymore when it arrives at our age. But the wisdom shines as bright and as true as ever. Here is the value of the book: Benitez as recalled by Virginia B. Licuanan through the letters she left behind talks to us about the incipient years, those days when a few intellectuals and leaders were at that intersection between doing good for the country or bungling what destiny had given them in terms of opportunities.

The Philippines through the poignancy of the letters seemed small and manageable. Here are our heroes and heels. Paz Marquez Benitez has all the candor and precision of an observer and a writer. President Manuel L. Quezon is always “Don Manuel.” He is temperamental and the stories handed down to us about this man who would not stop himself at uttering the expletive “Animal!” is indeed true, when somebody deserved that. And always, the crime is social—the lack of manners. In one account, walking around the University of the Philippines, the President chanced upon a classroom where one engineering student had his legs propped up on the seat in front of him, Quezon berated the offender and the teacher, a certain Professor Albert, who did not check on the behavior of his students. Justice Jose Abad Santos is here. He is “Jobad,” a good friend of Francisco Benitez, the husband of Paz. The Japanese executed Abad Santos because he refused to cooperate with them. Here is Sergio Osmeña, scrupulously honest and losing the election to Manuel Roxas because the former refused to make promises he would not be able to fulfill. Here is also Vicente Sotto Sr. of Cebu, who asks Osmeña to make a public statement of support for him, in exchange for his services of attacking “whomever you say, libel anyone you tell me to libel…” Then there is Quezon. Paz Marquez Benitez writes in an entry on August 17, 1944, the following: Don Manuel is dead—has been

dead for over two weeks…Don Manuel, lover of the dramatic, could not have made a more dramatic exit. From Baler, obscure seacoast village to a funeral in Arlington—quite an incredible journey. Paz continues: It was time to go; his role in our history is over. The time to build has come and Don Manuel is not the man for that. Irascible, intolerant, impatient, and domineering, he was a destroyer, not a builder of men. Paz Marquez Benitez’s letters had those years of terror—escaping from the cazadores, the Spanish soldiers who were called hunters; hiding from Americans, and; being terrified of the Japanese. When she built her home with her husband, Dean Francisco Benitez, the street where the home was built was to be known as “Easy Street.” A diary in 1945 contains these lines: Since I last wrote in this book, the world has changed utterly; myself not the least. So many things, sad, bad things, have happened, so many people have died. Memory, more than the stately narratives of historians about histories demarcated for their grandeur, can tell with ease the plots of the people of any nation. The memories of this great writer, Paz Marquez Benitez, relate paths that are least trodden by pedants and chroniclers and bring us what Gustave Flaubert says of memory—that desire one misses. And desire is what we need when the world has become a sad, bad thing and many people each day die in the hands of an uneasy government.

E-mail: titovaliente@yahoo.com

Be ‘prepared for anything’ as Trump slams Europe, China on FX By Katherine Greifeld Bloomberg Opinion

NITED States President Donald J. Trump’s latest accusation of currency manipulation has foreign-exchange analysts game-planning the administration’s next move. Trump tweeted on Wednesday that Europe and China are playing a “big currency manipulation game,” days after he declared a tariff ceasefire with Chinese leader Xi Jinping. For market observers, the president seemed to suggest going beyond mere jawboning. His call to “Match, or continue being the dummies who sit back and politely watch as other countries continue to play their games” has strategists considering the possibility that the US Treasury could intervene to weaken the dollar. The US hasn’t intervened in FX markets since 2011, when it stepped in to strengthen the dollar as part of an international effort after the yen soared in the wake of that year’s devastating earthquake in Japan. But with Trump’s repeated complaints

about dollar strength—even after the US refrained from formally labeling China a currency manipulator at the end of May—anything is on the table, according to Canadian Imperial Bank of Commerce.

Presidential ‘obsession’

“The obsession with currency manipulation—a month after the last Treasury report had different conclusions—means we should be prepared for anything,” said Bipan Rai, CIBC’s North American head of foreignexchange strategy. “The Treasury hasn’t intervened to weaken the dollar for decades, but we wouldn’t be surprised if that changes potentially under Trump.” The euro touched the day’s high on Trump’s tweet on Wednesday before retreating. The latest missive did little to rattle the offshore yuan. The Bloomberg Dollar Spot Index is down about 0.5 percent this year, after a 3.2 percent gain in 2018. But using a Federal Reserve tradeweighted measure, the dollar is not far below the strongest since 2002, which threatens to make US exports

less competitive abroad. The risk of intervention increases should the Fed decide not to ease policy at its meeting this month, Rai said. Trump has staged a campaign against Fed Chairman Jerome Powell in recent months, comparing the central bank to a “stubborn child” last month for not cutting rates.

Only game

Trump may ramp up his jawboning efforts as other major central banks start to ease, said Anthony Doyle, global cross-asset investment specialist at Fidelity International. “I wouldn’t be surprised if jawboning was to increase in coming months,” Doyle said in an interview with Bloomberg Television. “Generating inflationary pressures, generating competitiveness through a lower currency is one tool that central banks can use to support their economies and it’s the only game in town at the moment.” European Central Bank policymakers aren’t yet ready to rush into additional monetary stimulus at the July 25 meeting, according to

euro-area central-bank officials familiar with the matter. Still, the Governing Council members may tweak its policy language this month to signal more stimulus is imminent, they said earlier this week. Ng Kheng Siang, Asia Pacific head of fixed income at State Street Global Advisors, said Trump’s jawboning efforts could continue if the ECB eases and the euro weakens. “Clearly if he feels that the US interest is not served, in his eyes, he’ll start to poke and even blast at anyone,” Ng said. Even if the Fed does lower rates in a few weeks—a move that bond traders overwhelmingly expect—that might not be enough for the president, according to Bank of America Corp. “The president is likely to get his way at least for the time being,” foreign-exchange strategist Ben Randol said via e-mail. “However, the problem arises if US economic outperformance continues and the dollar proves accordingly resilient,” he said. “In that case, the temptation to intervene in FX markets will increase if Fed cuts don’t do the trick.”

Reptile invasion: Florida agency encourages killing iguanas By Curt Anderson The Associated Press

Developed by Alvin Ang

Friday, July 5, 2019 A11

ORT LAUDERDALE, Florida— Non-native iguanas are multiplying so rapidly in South Florida that a state wildlife agency is now encouraging people to kill them. A Florida Fish and Wildlife Conservation Commission news release says people should exterminate the large green lizards on their properties, as well as on 22 public land areas across South Florida. It doesn’t say just how civilians

should try to kill them. “Homeowners do not need a permit to kill iguanas on their own property, and the FWC encourages homeowners to kill green iguanas on their own property whenever possible,” the agency says. Iguanas aren’t dangerous or aggressive to humans, but they damage seawalls, sidewalks, landscape foliage and can dig lengthy tunnels. The males can grow to at least five feet (1.5 meters) long and weigh nearly 20 pounds (9 kilograms). The commission says female iguanas can lay nearly 80 eggs a

year and South Florida’s warm climate is perfect for the prehistoric-looking animals. Iguanas are native to Central America, tropical parts of South America and some Caribbean islands. “Some green iguanas cause damage to infrastructure by digging burrows that erode and collapse sidewalks, foundations, seawalls, berms and canal banks. Green iguanas may also leave droppings on docks, moored boats, seawalls, porches, decks, pool platforms and inside swimming pools,” the wildlife commission says. They also can carry

salmonella bacteria. Like other nonnative species, authorities say iguanas brought to Florida as pets or hitchhiking on ships have begun to flourish in the state. Another invasive species, the Burmese python, is wreaking havoc in the Everglades because the big snakes eat almost anything and have no natural predators in the US save for the occasional alligator. Iguanas are allowed to be kept as pets in Florida but are not protected by any law except anti-cruelty to animals, according to the commission.

2nd Front Page BusinessMirror

A12 Friday, July 5, 2019

PHL wants Germany to probe meat trader’s quarantine breach

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Agriculture (DA) will ask Germany— the second top source of Philippine meat imports—to investigate the recent quarantine breach that allowed pork from Poland to be shipped by a German firm to the Philippines. Agriculture Secretary Emmanuel F. Piñol told the BusinessMirror that he would formally write to the German embassy in

the Philippines and request for an investigation. Piñol will also ask Germany to fix the loopholes in its quarantine system.

88 million kilograms The volume of meat products imported by the Philippines from Germany in 2018

Following the recent discovery of Germany’s shipment of 260 kilograms of Polish pork to the Philippines, the National Meat Inspection (NMIS) said it will intensify its monitoring and inspection of meat shipments from the European Union. Local meat importers, traders and processors told the BusinessMirror that the lapses in Germany’s quarantine system is a “huge

concern” at a time when the Philippines is on high alert for shipments that could introduce the dreaded African swine fever (ASF) virus into the country. “The German co-mingling case causes great concern for Philippine quarantine authorities. Somehow it strengthens our earlier reservation on allowing shipment of pork from ASF high-risk countries,” Piñol said in an interview on Thursday. The DA chief also disclosed that he would permanently ban German firm Pro Food GMBH (ProFood) from exporting meat products to the Philippines even if blanket ban on Germany is lifted. He said ProFood’s act was a See “Germany,” A2

Neda: Rice trade liberalization law to boost GDP By Cai U. Ordinario

@caiordinario

HE law that sought to further open up the Philippines’s rice sector is also expected to boost the country’s GDP, according to the latest estimates of the National Economic and Development Authority (Neda) and the International Food Policy Research

Institute (Ifpri). In a statement, Neda said preliminary estimates showed that the rice trade liberalization law will add 0.44 percentage points to the country’s economic growth. This is based on a 35-percent tariff rate. This means that if the country’s economic growth is at 6 percent, adding the impact of the rice trade

LOW PRESSURE AREA 395 KM EAST OF GENERAL SANTOS CITY, SOUTH COTABATO as of 4:00 pm - July 4, 2019

liberalization law will mean GDP will reach 6.44 percent. “The agriculture sector would expand as there would be more crop diversification—as uncompetitive rice areas shift to other high-value crops with relatively higher net returns,” the Neda said. Neda Undersecretary for Policy and Planning Rosemarie G. Edillon said the reform, which

was advocated by the oversight agency, will also boost investments in agriculture. Edillon said prior to the passage of Republic Act (RA) 11203, the government monopolized rice trade nationwide. Only the National Food Authority (NFA) was authorized to import rice, the country’s food staple. However, with the new law, Edillon said more investments can come in given that the NFA’s powers to import rice have already been amended under RA 11203. “Before the rice tariffication law was passed, the government had been monopolizing the rice trade. This setup had been restricting the flow of private funds going to the sector,” Edillon said. “We have conducted similar studies on this. But we want a model that integrates climate change into farmers’ decisions,” she added. The Neda also said the world rice market is capable of supplying the additional import demand of the Philippines in the long run with minimal increases in prices. The accessibility of affordable rice will contribute to lowering domestic rice prices that will benefit everyone especially the poor, it added. The study also emphasized the need to support local rice farmers by assisting them to improve productivity, providing cash transfers in the short run, and helping them in the adoption of climate-resilient technologies. “The agriculture sector, particularly the rice sector, is vulnerable to climate shocks, which have been increasing in frequency and intensity. So we want to be prepared and provide interventions ahead of time,” Edillon said. Neda and Ifpri conducted an assessment on the projected impact of the removal of the quantitative restriction on rice and climate change on the agriculture sector. Initial results were presented in a recent policy forum attended by representatives of concerned government agencies and nongovernment organizations in Pasig City. RA 11203 liberalized the country’s rice trade by removing the quantitative restriction on imports, and transformed the NFA into a buffer-stocking agency. Officials of the agriculture department sounded the alarm last week that the government could face lawsuits if it implements the rice trade liberalization law on March 5 even without the IRR. Some groups are looking into the possibility of securing a temporary restraining order against RA 11203 from the Supreme Court.

www.businessmirror.com.ph

BISHOPS TO BARE PLANS MARKING 500TH YEAR OF CHRISTIANITY IN PHL By Samuel P. Medenilla

@sam_medenilla

HE Catholic Bishops’ Conference of the Philippines (CBCP) would soon bare its plans for the upcoming 500th anniversary of the arrival of Christianity in the country. CBCP Secretary-General Fr. Marvin S. Mejia said the event, which will take place in 2021, will be one of the topics to be discussed during the CBCP Plenary Assembly from July 6 to 8. “These are some [of the plans] that will be finalized,” Mejia told reporters in an interview. “Hopefully, they can already finalize the activities for 2021.” Next year, the CBCP is about to wrap up its nine-year thematic celebrations leading to the

momentous event. The said annual celebrations started in 2013 with the following themes: “Integral Faith Formation” (2013); “The Laity” (2014); “The Poor” (2015); “The Eucharist and the Family” (2016); “The Parish as a Communion of Communities” (2017); “The Clergy and Religious” (2018); “The Youth” (2019); “Ecumenism and Inter-Religious Dialogue” (2020); and, “Missio ad gentes [mission to the nations]” (2021). Other issues to be tackled in the event include the elections of the new officers of CBCP and environment-related issues. “There will be a talk on current environmental issues, on what happened to our beautiful land. We need to take look into that,” Meija said.

DOLE may launch inquiry into labor-related killings

HE Department of Labor and Employment (DOLE) is ready to conduct its own probe on allegations that labor-related killings are rampant in the country, according to Labor Secretary Silvestre H. Bello III. The chief of the DOLE said on Thursday this was in response to the 2019 Global Rights Index of the International Trade Union Confederation of the Philippines (ITUC) branding the Philippines among the top 10 countries with the worst worker rights violations. Bello said he took “a strong exception” to the ITUC report, which he said may be based on “imaginary” information. ITUC report expressed alarm over the 10 trade unionists in the country who the group said were “assassinated” last year. They include the nine striking sugar cane workers of the National Federation of Sugar Workers and Danny Boy Bautista, a 31-year-old harvester of the Japanese fruit exporter firm Sumifru (Philippines) Corp. “This attack came just before President Duterte made a statement on October 28 stating that any further occupations of land by farmers should be dealt with harshly,” ITUC said. Citing government data, Bello disputed the report that showed there were only five recorded labor-related killings during Duterte’s term. “Only four were killed and one was a case of frustrated homicide,” Bello said.

He said the other reports raised by ITUC and even labor coalition Nagkaisa may have not been labor-related. Nagkaisa claimed that since Duterte started his term, 43 were killed due to their role in labor unions. “There are no official reports on these killings; then they would just make a conclusion they were killed because of their participation in unionism or labor advocacy,” Bello said. “They cannot even give the names [of the victims], and where, when and how they were killed,” he said referring to the 43 incidents stated by Nagkaisa. Nevertheless, Bello said the DOLE is ready to investigate the said case once labor groups provide them the necessary details of the said incidents. “They could show us [the information] and we will cooperate with them to go after the people, who are responsible,” Bello said. As a long-term proactive solution to the issue, Bello said they will also be increasing their existing pool of 800 labor inspectors by another 500 to help ensure the enforcement of labor laws in workplaces. “The President put me here because of my track record in advocating rights of our workers and specially in protecting the rights of our workers,” Bello said. “We know the value of trade unionism. And we recognize the right of our workers.”

Samuel P. Medenilla

DBM to GOCCs: Check PhilHealth share funds By Rea Cu

@ReaCuBM

HE Department of Budget and Management (DBM) is reminding government agencies and government-owned and -control led cor porations (GOCCs) to check their financial allocations in their share as employer for contributions to the Philippine Health Insurance Corp. (PhilHealth). “Notwithstanding the upward adjustments in HIP [health insurance premium] contributions to support expanded benefits for more beneficiaries, and that payment for personnel benefits is considered a mandatory government expense, the following policies on HIP contributions as prescribed under previous DBM issuances are hereby reiterated to ensure that payments for employer [government] shares shall have the corresponding appropriation cover for fiscal sustainability and payments for employee shares shall correspond to the employer [government] share for equitability,”

DBM Circular Letter 2019-8 read. Agencies are instructed to ensure that the payment of government HIP contributions is supported by corresponding appropriations, as well as to ensure that employees’ personal share collected from the individual’s monthly basic salary, or MBS, should correspond to the government share provided under the budget. The circular said that GOCCs receiving subsidy from the government shall always comply with the rates outlined in the latest circular issued by the DBM. “The employer [government] share in the HIP contribution to be remitted to PhilHealth shall be increased only upon appropriate advice or notice from the DBM,” the circular added. GOCCs that do not receive any form of subsidy from the government, as well as local government units are not required to adopt the rate imposed under the latest DBM circular if they are already paying the latest premium rates under a circular from the PhilHealth. See “PhilHealth,” A2

Companies BusinessMirror

Editor: Efleda P. Campos

FPH increasing its shares buyback budget to ₧11.75B

By VG Cabuag

@villygc

OPEZ-LED First Philippine Holdings Corp. (FPH) on Thursday said it is increasing its shares buyback budget by P5 billion to a total of P11.75 billion as it believes its shares are still undervalued. In a disclosure to the Philippine Stock Exchange, the company said its board has approved the addi-

tional allotment of P5 billion for its common shares buyback program which is currently scheduled

to run until July next year. In June, the executive committee approved an interim additional allotment of P750 million for the program. To date, about P6.74 billion worth of shares has been purchased by FPH. “As previously disclosed, the program is intended to strike a balance between enhancing the company’s capital structure and maintaining the ability to fund future growth and investments. Buyback transactions will be triggered if the company stock is substantially undervalued, when there is high volatility in share prices or in any instance where a buyback

should serve to improve shareholder value,” it said. “FPH will also be mindful of the need to maintain the liquidity of its stock in the market.” FPH posted an 87-percent increase in attributable net income to P3.75 billion for the first quarter of the year, from P2 billion last year. Revenues rose 19 percent to P32.77 billion for the period, from P27.565 billion last year. Sale of electricity accounted for 86 percent of revenues for the period. Net foreign-exchange losses were almost wiped out to P5 million, from P881 million last year.

PSALM eyes CBKHPP, Casecnan hydro power plants as the next in line to privatize By Lenie Lectura

@llectura

HE Power Sector Assets and Liabilities Management Corp. (PSALM) has set its sights on Caliraya-Botocan-Kalayaan Hydroelectric Power Plant (CBKHPP) and Casecnan multipurpose hydropower plant as the next power assets to be privatized. “We are set to bid out this August the Malaya power plant. We are targeting the privatization of the CBKHPP and Casecnan next as soon as we have completed the study that aims to determine the privatization structure most suitable for these security assets,” PSALM President Irene Joy Garcia said. The state firm announced last month that public bidding for the 650-megawatt (MW) Malaya Ther-

D’ Heights Casino now open in Clark

LARK FREEPORT—The sixth casino in this freeport is now open after it was formally inaugurated on Wednesday. Dong Huang Clark Corp. Chairman Lee Shin Kun, owner of the premier resort and casino, led the soft opening of D’ Heights Casino, nestled in the middle of the 309-hectare D’ Heights Resort and Casino which include the soon-to-open five star, 310-room Hilton Hotel and the Hyatt Regency. Albert Pascual, D’ Heights Resort and Casino business development manager, said the property will also include an indoor water theme park, a man-made lake, villas, condominium towers, the Singapore International School, a 36-hole golf course, restaurants, duty-free shops, as well as commercial establishments. Pascual also said Monterey’s Lake—composed of five towers, 15-story condominium units—is all sold out. The Monterey’s Switch, composed of seven tower condominium units, is now rising on the property, he added. Pascual said D’ Heights Casino has an initial 50 gaming tables and 576 slot machines. He added that 100 gaming tables will be available during grand opening in October. The casino has a VIP floor, a high limit area dubbed D’ Heights Club and a junket area. The idea is to have a one-stop shop leisure and resorts area, Pascual said. He disclosed the initial investment for the property’s development is about $250 million. D’ Heights Resort and Casino sits on 350 meters above sea level resulting in a cooler, cleaner and fresher environment. It is located in the mountainous area at the north-west side of this freeport. Ashley Manabat

mal Power Plant (Malaya TPP) and its underlying land is scheduled next month. PricewaterhouseCoopers (PwC) Philippines will craft financial models and analyses to optimize value for the land and structures of Malaya TPP. After the sale of Malaya TPP, PSALM hopes to privatize the two hydro-power facilities by next year. Garcia said the state firm is currently conducting a study on options for the sale of the 728-megawatt CBKHPP in Laguna and the 140-MW Casecnan multipurpose hydropower plant in Nueva Ecija. “We are hoping we can get help from the Asian Development Bankwhich was the direction set by the Department of Finance. We’ve already started working with the DOF for

us to be able to get assistance from ADB for the feasibility studies also for determining the structure that will be best suitable on how we can privatize it,” Garcia said. The CBK hydrofacility consists of the 22.6-MW Caliraya in Lumban, 20.8-MW Botocan in Majayjay and the 684.6-MW Kalayaan I and II in Kalayaan, Laguna. J-Power and Sumitomo Corp. of Japan operate the CBK power plants. The 140-MW Casecnan project, meanwhile, was built following the signing of a build-operatetransfer contract between the National Irrigation Administration and California Energy Casecnan Water and Energy Co. Inc. (CE Casecnan) in 1994. CE Casecnan’s contract with the government will lapse on April 5,

2022, while that of J-Power will end on February 7, 2026. She said the feasibility study should be finished this year, followed by the sale in 2020.

Friday, July 5, 2019

OLX merges operations, business in PHL with Carousell

AROUSELL is merging with OLX in the Philippines in a bid to become the leading classifieds marketplace platform in the country, offering Filipinos the best shopping experience, and encouraging them to start buying and selling online. Carousell Philippines General Manager (GM) Raffy Montemayor said this partnership is a “game changer” and revolutionary for the local e-commerce industry. “I think there’s enor mous growth potential in the Philippines, not just the country but from Filipino users. And in order for us to really unlock that, we saw the benefit of working together. It’s about pulling resources and building on strengths,” he told reporters prior to their media briefing held in Makati on Wednesday. The top executive cited that OLX has built a leading classifieds position and strong commercial capabilities over the past 13 years, while Carousell has established a highly engaging platform with strong technological capabilities. “By bringing those two companies and brands together in the Philippines, we have the best of both worlds: A leading position of strong commercial capabilities and an amazing platform that will address our users needs now and

in the future. That’s the intent behind the partnership,” he said. Starting July 15, the accounts and listings of OLX Philippines users will be migrated to a single platform under Carousell.ph. It will offer bestin-class features for both the sellers and buyers. Among them is smart listings powered by artificial intelligence (AI) that allows sellers to streamline their selling process to just seconds by taking a photo of their item. It will auto-fill listing fields, such as category, title and even suggest a price based on other similar listings. Sellers can also leverage on free unli-posting where they can get limitless free ads in selected categories to maximize their sales. For new users, they can look forward to Carousell’s vast community of buyers and sellers. They can find groups to join, and start buying and selling with friends, people of similar interests or communities they care about. What’s more, both buyers and sellers can leave feedback for each other after successfully completing a transaction, adding credibility to their profiles. Carousell has invested also in Machine Learning capabilities to get more users on the platform by making buy and sell a lot easier there. Roderick L. Abad

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Friday, July 5, 2019

PSE STOCK QUOTATIONS

July 4, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

58.6 141.3 78.75 27.25 12.06 71.8 13.2 56.35 58 112 27.25 171.5 62 1.25 2.42 18.72 4.74 1.36 0.51 0.98 189.1 1760

58.9 141.4 78.8 27.3 12.08 71.9 13.24 56.45 58.1 115 27.3 171.7 62.05 1.29 2.44 18.82 4.84 1.38 0.53 0.99 190 1810

58.45 139.4 78.6 27.4 12.06 72.05 13.2 55.1 58 115 27.2 170.5 62.1 1.3 2.43 18.72 4.8 1.38 0.495 1 191.8 1810

58.9 141.9 79.5 27.4 12.12 72.35 13.2 57.35 58.05 115 27.5 172 62.3 1.3 2.44 18.82 4.85 1.38 0.57 1 191.8 1810

58.45 139.4 78.6 27.25 12.04 71.5 13.2 54.4 58 115 27.2 169.3 61.5 1.26 2.43 18.72 4.75 1.38 0.495 0.98 190 1760

58.9 141.4 78.8 27.25 12.08 71.8 13.2 56.45 58.05 115 27.3 171.5 62 1.29 2.44 18.72 4.75 1.38 0.52 0.98 191 1760

4760 2327540 1037720 71300 1234200 1773100 10200 817950 5790 10 7700 397130 11370 161000 53000 2900 141000 3000 2190000 197000 1650 70

279250 327799093 81992248.5 1948185 14913154 127458957 134640 46073028 336108 1150 211130 68060017 704886 203610 128910 54388 671520 4140 1159900 194510 315651 123950

129490 -4596749 -12771346 -286510 -5432860 5544049.5 4376017.5 -5460 17445539 87982 -14976 -54000 38200 -

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

1.35 36.9 0.26 26.95 88.15 381 25.55 5.89 4.6 2.36 11.96 38.9 6.56 14.7 17 14.5 6.14 10.48 7.59 105 0.84 61.15 285.6 30 9.48 14.74 1.92 13.8 1.39 1.93 0.127 172 1.25 105.5 115.1 3.11 5.01 15.6 11 13.54 18.3 9.08 1.22 1.45 2.07 4.23 3.3 4.9 40.5 2.58 10.28 1.71 1.15 17.5

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

1.04 13 901 55.1 15.68 3.91 7 0.79 1.3 1.3 6.81 10.22 13.9 0.232 865 6.42 66.95 4.55 0.485 4.07 15.72 0.63 4.8 0.039 1.49 1.39 433 976.5 175.9 0.83 2.41 264 0.231 0.335

1.39 37 0.27 27 89.3 382.2 25.6 5.9 4.64 2.38 12.08 38.95 6.58 14.9 17.46 14.6 6.25 10.54 7.61 105.1 0.85 61.3 285.8 50 9.8 14.78 1.93 13.82 1.4 2.07 0.133 172.9 1.26 105.6 121.5 3.12 5.14 15.62 11.02 13.6 18.32 9.3 1.24 1.46 2.1 4.5 3.4 5 40.8 2.6 10.3 1.72 1.16 17.6

1.35 37.5 0.265 27.2 86 385.2 25.6 5.96 4.6 2.44 12.08 38.95 6.5 15 17.04 14.8 6.08 10.44 7.77 105.1 0.83 61.15 285.4 50 9.77 14.38 1.8 13.6 1.4 1.92 0.128 170.5 1.26 107 130 3.17 5.14 15.6 11 13.62 18.8 9.08 1.22 1.41 2.09 4.26 3.3 5.06 40.65 2.62 10.3 1.74 1.18 17.28

1.39 37.5 0.27 27.25 90 387 25.65 5.96 4.64 2.45 12.08 39 6.58 15 17.04 14.86 6.25 10.54 7.77 107 0.85 62.55 286.8 50 9.85 14.8 1.94 13.82 1.42 2.05 0.128 173 1.27 112.7 130 3.17 5.14 15.66 11.04 13.62 18.8 9.3 1.25 1.47 2.1 4.5 3.43 5.06 40.65 2.64 10.4 1.76 1.18 18.22

1.35 36 0.26 26.95 86 381 25.2 5.88 4.6 2.33 11.96 38.9 6.5 14.62 17.02 14.24 6.08 10.42 7.59 105.1 0.83 61 285 50 9.42 14.3 1.8 13.6 1.38 1.92 0.128 168.2 1.25 99 105 3.1 5.14 15.6 11 13.5 18.3 9.08 1.22 1.41 2.07 4.25 3.3 4.9 40.5 2.57 10.2 1.71 1.15 17.28

1.35 36.9 0.27 27 88.15 381 25.55 5.89 4.64 2.36 12.08 38.95 6.56 14.9 17.02 14.5 6.14 10.54 7.59 105.1 0.85 61.3 285.8 50 9.8 14.78 1.92 13.8 1.4 1.93 0.128 172 1.26 105.5 121.5 3.11 5.14 15.6 11 13.6 18.32 9.3 1.24 1.45 2.1 4.25 3.4 5 40.5 2.6 10.3 1.72 1.16 17.5

1297000 981600 1320000 1762100 860900 193530 335100 2091600 34000 15012000 11900 82800 25900 374600 3200 1360400 208700 1951500 2103900 1105690 1294000 103290 228480 10 9800 742100 17142000 34000 297000 42000 840000 608670 1289000 73720 24210 3955000 3400 497800 239800 150300 6528100 7200 524000 7359000 223000 12000 5000 67500 60000 8227000 641800 1427000 381000 767700

1786530 36175845 -16942740 349400 47613880 5800385 76149574.5 -11438347 73977960 -17876190 8546980 7049540 12369971 3455963 156870 35744950 -1320820 143650 -10770 3225260 627490 170089 5586814 481568 54476 19986650 -1318664 1289133 -115897 20496946 5311094 16060208 1708798 117221566 -44726570 1091920 -5100 6324715 1391055.5 65287630 12205880 500 93999 10829198 5508172 32406720 1295120 467732 25840 413840 84600 107520 104533135 13002447 1619250 7796389 2849856 -82948 12337390 3375990 17476 7765750 -4098122 2638504 1708536 2041104 -1594854 119,854,482( 18,765,698.0004) 65398 641330 10611480 108730 465260 51290 16730 332620 50000 2434310 2145950 21484370 -986210 6612366 -3763022 2471850 17490 439440 46760 13606618 -1538894

HOLDING & FRIMS 1.05 13.12 902 56.05 15.7 3.92 7.05 0.8 1.31 1.31 6.83 10.3 14 0.245 870 6.45 67 6.39 0.495 4.11 15.76 0.64 4.82 0.04 1.5 1.44 466 987.5 176 0.85 2.48 267 0.237 0.34

1.01 13.06 903 56.1 15.72 3.99 7.05 0.75 1.35 1.33 6.81 10.48 14.02 0.246 870 6.48 67.75 4.51 0.495 4.11 15.54 0.63 4.87 0.039 1.54 1.39 427.2 995.5 176 0.82 2.47 266.8 0.232 0.33

1.05 13.34 903 56.3 15.92 3.99 7.05 0.82 1.35 1.33 6.86 10.48 14.02 0.246 875.5 6.53 67.85 4.56 0.495 4.13 15.9 0.65 4.87 0.04 1.57 1.44 466 997 177.5 0.86 2.48 267 0.235 0.34

1 13 899 55.1 15.68 3.92 7 0.74 1.3 1.31 6.79 10.22 13.9 0.224 865 6.42 65.85 4.51 0.485 4.01 15.4 0.62 4.8 0.039 1.44 1.38 427 976.5 175.1 0.82 2.47 260.4 0.23 0.33

1.05 13 901 55.1 15.7 3.92 7 0.8 1.31 1.31 6.83 10.22 14 0.245 865 6.45 66.95 4.55 0.485 4.07 15.76 0.63 4.8 0.039 1.5 1.38 465.8 976.5 176 0.83 2.48 267 0.231 0.34

22595000 123000 323860 326080 4932600 1210000 10900 2550000 3437000 1611000 1693200 2110400 18500 3260000 41270 146900 1081050 12000 50000 2675000 2779000 4849000 17697000 10800000 5145000 751000 160 113800 363180 443000 2000 1620 1780000 3980000

23278790 1600700 291846620 18147247.5 77851368 4759200 76320 2022490 4481630 2136830 11550661 21681510 258594 752300 35827165 948512 72152419 54450 24650 10935390 43706764 3061470 85447150 423100 7657300 1058330 69116 112186455 63904035 369420 4950 427388 411300 1343600

-112270 -31331405 3973984 -2633066 54620 73500 -156000 1801640 14603 -10815118 -33420 -6971680 -357825 22830532.5 -4625170 -24405716 -291040 60582540 699850 -24720 -8956505 1942484 -267850

PROPERTY

ARTHALAND CORP 0.95 0.96 0.96 0.97 0.94 0.96 6397000 6095490 47500 ANCHOR LAND 11.02 11.3 11.02 11.34 11.02 11.34 2000 22360 AYALA LAND 51.4 51.7 51.55 51.95 51.4 51.4 6029720 311708518.5 15714571.5 ARANETA PROP 2.01 2.05 2.05 2.05 2.05 2.05 1000 2050 BELLE CORP 2.32 2.33 2.33 2.33 2.3 2.33 683000 1583860 450160 A BROWN 0.83 0.84 0.84 0.84 0.83 0.84 621000 519690 4200 CITYLAND DEVT 0.91 0.93 0.91 0.93 0.91 0.91 159000 145790 CROWN EQUITIES 0.24 0.241 0.24 0.241 0.24 0.24 330000 79450 CEBU HLDG 6.15 6.35 6.35 6.35 6.35 6.35 2000 12700 -12700 CEB LANDMASTERS 5.18 5.19 5.04 5.26 5.01 5.19 4994300 25890804 6564333 CENTURY PROP 0.62 0.63 0.63 0.64 0.62 0.63 28552000 17845710 -63710 CYBER BAY 0.45 0.46 0.455 0.455 0.445 0.45 850000 383250 DOUBLEDRAGON 25.15 25.2 25.4 25.45 25.1 25.2 107100 2697625 561085 DM WENCESLAO 10.18 10.28 9.89 10.36 9.84 10.18 326500 3266168 226197 EMPIRE EAST 0.47 0.475 0.475 0.48 0.47 0.475 1220000 578850 -465500 EVER GOTESCO 0.123 0.13 0.121 0.121 0.121 0.121 40000 4840 FILINVEST LAND 1.87 1.88 1.89 1.9 1.86 1.87 14649000 27510700 -10033960 GLOBAL ESTATE 1.39 1.4 1.4 1.41 1.4 1.4 1783000 2498030 141000 8990 HLDG 15.62 15.64 15.6 15.66 15.5 15.62 1657200 25885690 PHIL INFRADEV 1.81 1.82 1.83 1.87 1.81 1.81 7528000 13839390 -2408700 CITY AND LAND 0.82 0.85 0.82 0.85 0.82 0.85 260000 215880 25200 MEGAWORLD 6.16 6.19 6.11 6.22 6.11 6.16 6264600 38779799 16814584 MRC ALLIED 0.345 0.355 0.35 0.355 0.345 0.345 12080000 4215600 -165350.0001 PHIL ESTATES 0.465 0.48 0.48 0.48 0.48 0.48 10000 4800 PRIMEX CORP 2.23 2.24 2.23 2.25 2.21 2.24 1320000 2943240 ROBINSONS LAND 26.5 26.65 26.25 26.75 26.1 26.5 3007500 79479320 285915 PHIL REALTY 0.41 0.42 0.42 0.42 0.415 0.415 40000 16700 ROCKWELL 2.18 2.2 2.19 2.22 2.17 2.2 259000 568690 SHANG PROP 2.98 3.12 3.04 3.15 3 3.12 245000 753830 -6000 STA LUCIA LAND 1.92 1.95 1.9 1.95 1.9 1.95 739000 1430650 SM PRIME HLDG 38 38.1 38.05 38.3 37.9 38 10628500 404,212,935( 110,940,809.9996) STARMALLS 6.27 6.4 6.21 6.5 6.21 6.43 109800 697924 PTFC REDEV CORP 46 48.45 46 46 46 46 500 23000 VISTA LAND 7.12 7.14 7.15 7.15 7.12 7.14 2925400 20881810 -4656498 SERVICES ABS CBN 17.2 18 17.22 18 17.16 18 152300 2717394 GMA NETWORK 5.35 5.39 5.37 5.4 5.35 5.39 240000 1291726 MANILA BULLETIN 0.51 0.53 0.53 0.53 0.51 0.51 605000 315790 MLA BRDCASTING 14.6 15.5 15.5 15.5 15.5 15.5 100 1550 GLOBE TELECOM 2250 2258 2236 2276 2234 2258 56690 127863540 9776960 PLDT 1240 1249 1265 1272 1240 1240 52495 65767950 -7602390 APOLLO GLOBAL 0.045 0.046 0.046 0.048 0.046 0.047 11100000 516800 IMPERIAL 1.91 1.99 2.02 2.02 2.01 2.01 5000 10060 ISLAND INFO 0.117 0.119 0.121 0.122 0.117 0.119 1340000 160410 ISM COMM 6.72 6.73 6.79 6.85 6.68 6.73 6276400 42201863 -4452656 JACKSTONES 3.01 3.1 3.02 3.02 3 3 17000 51110 NOW CORP 2.62 2.64 2.7 2.78 2.61 2.64 3504000 9417860 -111730 TRANSPACIFIC BR 0.39 0.395 0.395 0.4 0.39 0.39 4900000 1925950 PHILWEB 3.99 4 3.78 4.05 3.78 4 14076000 55484580 -1652460 2GO GROUP 11.16 11.2 11.94 11.94 11.16 11.2 18200 205950 ASIAN TERMINALS 21 21.5 21.15 21.15 21.15 21.15 1400 29610 -29610 CHELSEA 8.39 8.4 8.58 8.68 8.4 8.4 3185100 27110703 415334 CEBU AIR 91.3 91.4 91 91.5 91 91.3 62600 5711615.5 2529972 INTL CONTAINER 145.3 146 145.3 146.9 145.3 146 573300 83802616 19159016 LORENZO SHIPPNG 0.83 0.86 0.87 0.88 0.83 0.83 264000 222400 21500 MACROASIA 19.42 19.5 19.38 19.52 19.28 19.5 113500 2208718 1362064 METROALLIANCE A 1.54 1.58 1.69 1.69 1.55 1.55 68000 108710 METROALLIANCE B 1.55 1.6 1.56 1.56 1.56 1.56 3000 4680 PAL HLDG 9.15 9.35 9.05 9.35 9.02 9.35 14100 127368 HARBOR STAR 2.23 2.24 2.27 2.27 2.23 2.24 375000 840600 134500 BOULEVARD HLDG 0.057 0.058 0.057 0.058 0.057 0.057 9480000 544390 29000 DISCOVERY WORLD 2.09 2.23 2.23 2.32 2.23 2.23 28000 62680 GRAND PLAZA 9.66 11.7 11.98 11.98 11.98 11.98 400 4792 WATERFRONT 0.75 0.76 0.76 0.76 0.74 0.75 1634000 1231470 FAR EASTERN U 890 895 890 890 890 890 240 213600 IPEOPLE 9.61 10.08 9.5 9.5 9.5 9.5 100 950 STI HLDG 0.74 0.75 0.76 0.76 0.74 0.74 2130000 1590190 439380 BERJAYA 2.72 2.74 2.74 2.75 2.7 2.74 160000 436570 BLOOMBERRY 11.64 11.66 11.7 11.82 11.52 11.64 3137600 36497058 -28445338 PACIFIC ONLINE 3.07 3.09 3.09 3.12 3.06 3.09 112000 345450 -151120 LEISURE AND RES 3.72 3.76 3.75 3.78 3.71 3.76 655000 2460570 233020 MANILA JOCKEY 3.14 3.24 3.15 3.15 3.13 3.13 33000 103890 PH RESORTS GRP 5.4 5.5 5.54 5.56 5.4 5.5 34100 188324 PREMIUM LEISURE 0.78 0.79 0.78 0.79 0.78 0.79 3013000 2368180 -947640 TRAVELLERS 5.49 5.5 5.48 5.57 5.47 5.49 1758100 9649935 -7475756 METRO RETAIL 2.6 2.62 2.63 2.63 2.6 2.6 1357000 3539490 73100 PUREGOLD 44 44.15 44.6 44.6 44 44 1290400 56873415 920425 ROBINSONS RTL 77 77.05 77 77.3 76.8 77 1299830 100061758 10479561.5 PHIL SEVEN CORP 135.2 136 136 136 136 136 20 2720 SSI GROUP 3.3 3.31 3.41 3.45 3.29 3.3 61578000 205707340 162016930 WILCON DEPOT 16.92 17.06 17.1 17.1 16.92 16.92 557600 9468950 -5657152 APC GROUP 0.53 0.54 0.5 0.58 0.49 0.54 55910000 30066000 -1031100 EASYCALL 10.06 10.08 10.08 10.1 10.06 10.08 64300 648528 GOLDEN BRIA 426 435 400.6 444 381 426 36630 15048294 IPM HLDG 5.75 5.85 5.85 5.85 5.8 5.8 9600 55905 PAXYS 2.9 3.06 2.92 3.06 2.9 3.06 7000 20660 PRMIERE HORIZON 0.91 0.92 0.94 0.95 0.9 0.91 33838000 31128330 338980 SBS PHIL CORP 9.07 9.19 9 9.28 9 9.07 56400 511885 MINING & OIL ATOK 11.12 12.48 12.4 12.48 11.02 12.48 2000 24256 APEX MINING 1.21 1.22 1.25 1.25 1.19 1.22 3626000 4364480 -3093240 ABRA MINING 0.0017 0.0019 0.0018 0.0018 0.0018 0.0018 147000000 264600 45000 ATLAS MINING 2.69 2.78 2.78 2.78 2.75 2.75 313000 869150 BENGUET A 1.19 1.25 1.25 1.25 1.25 1.25 37000 46250 CENTURY PEAK 2.75 2.8 2.79 2.79 2.75 2.75 690000 1907660 44640 DIZON MINES 7.84 7.85 7.85 7.9 7.78 7.85 2500 19629 FERRONICKEL 1.5 1.51 1.5 1.51 1.49 1.5 12308000 18582020 22650 GEOGRACE 0.221 0.226 0.226 0.226 0.22 0.221 110000 24590 LEPANTO A 0.106 0.11 0.11 0.11 0.107 0.107 1610000 174570 LEPANTO B 0.114 0.119 0.119 0.119 0.115 0.119 50000 5830 MANILA MINING A 0.0076 0.0078 0.0079 0.0079 0.0076 0.0076 3000000 23100 MARCVENTURES 1.19 1.21 1.27 1.27 1.16 1.22 3763000 4530220 120000 NIHAO 1.01 1.04 1.03 1.05 1.03 1.03 20000 20640 NICKEL ASIA 2.27 2.28 2.3 2.3 2.27 2.27 1741000 3966780 -154990.0001 ORNTL PENINSULA 0.88 0.91 0.9 0.91 0.87 0.91 696000 615510 48950 PX MINING 3.51 3.54 3.53 3.56 3.5 3.51 247000 869180 -155920 SEMIRARA MINING 22.75 22.8 23.3 23.3 22.75 22.8 542700 12455495 -158805 UNITED PARAGON 0.0066 0.0068 0.0067 0.0067 0.0067 0.0067 7000000 46900 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 5400000 64800 PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.011 6000000 64000 11000 PHINMA PETRO 4.93 4.95 4.77 4.96 4.7 4.95 548000 2675170 PXP ENERGY 7.39 7.4 7.4 7.48 7.35 7.39 536800 3971311 -1029193 PREFFERED AC PREF B2 490.4 496 496 497 496 496 930 462170 ALCO PREF B 98.2 100 100 100 100 100 25600 2560000 ALCO PREF C 98 102.9 100 100 100 100 500 50000 DD PREF 98.1 99 99 99 98.1 98.1 1860 184113 SMC FB PREF 2 960 965 975 975 965 965 9260 8942150 FPH PREF C 419.8 449.8 449 450 449 450 100 44960 GTCAP PREF A 867.5 900 900 900 900 900 170 153000 GTCAP PREF B 900 949 900 900 900 900 4800 4320000 MWIDE PREF 99.7 102.4 100 100 99.7 99.7 100 9976 PNX PREF 3B 106 107.5 106 106 106 106 1000 106000 PCOR PREF 2A 995 1000 995 999.5 995 999.5 4800 4776360 -3482500 PCOR PREF 3A 1010 1011 1005 1010 1005 1010 1315 1327650 PCOR PREF 3B 1010 1012 1007 1012 1007 1012 6715 6782250 SMC PREF 2C 76.05 76.1 76.8 76.9 76.1 76.1 6500 495208 SMC PREF 2D 72.55 73.55 72.5 72.5 72.5 72.5 23500 1703750 -1703750 SMC PREF 2E 72.5 73 73 73 73 73 10000 730000 SMC PREF 2F 73.85 74 74 74 73.85 73.85 7310 540190 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR

16.72

17.14

50000

857000

WARRANTS LR WARRANT

1.87

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.83 XURPAS 1.17

1.9

1.86

15000

27900

4.86 1.18

4.9 1.16

4.9 1.18

4.8 1.15

4.85 1.18

294000 4153000

1417070 4829950

48100 176660

EXHANGE TRADE FUNDS FIRST METRO ETF

120.5

121

120.2

120.5

5020

606830

www.businessmirror.com.ph

Eastern Communications’ cloud services stronger with CloudSigma

ASTERN Communications, one of the country’s premier telco companies, expands its network of partners on a global scale as it allies with international cloud service provider CloudSigma. Founded in 2009 in Switzerland, CloudSigma has been providing a pure-cloud infrastructure-as-a-service (IaaS) that enables digital industrial economy through its highly available, flexible, enterprise-class hybrid cloud servers and cloud hosting solutions in Europe, the United States, Asia and Australia. Many companies nowadays have started adopting cloud computing in their operations. Cloud computing in today’s business environment is a cost-effective and advanced way

of storing and sharing company data and applications securely. It also lets users access the data anytime, anywhere using any device to finish their tasks conveniently. “As Eastern Communications expands its footprint across the country, we’re also broadening our network of best-in-class global partners. These innovation leaders help us provide a wide array of reliable products and services, and meet the digital needs of our customers as part of our ‘High Tech’ promise,” Product and Innova-

tion Head Edsel Paglinawan said. CloudSigma’s Public Cloud is one of the most customizable services available in the market, a type of computing in which a service provider makes resources available to the public via the Internet and accessible by anyone who wants to use or purchase them. Each resource is billed separately and transparently as either subscription or as payas-you-go five-minute billing segments, making it cost-efficient for businesses. Their Virtual Private Cloud, an on-demand configurable pool of private computing resources, isolates VPC users from all other users within a multi-tenant cloud environment, ideal for companies that require high level security and privacy. CloudSigma also connects customers’ existing infrastructure to the provider’s public cloud via private connectivity through their Hybrid Cloud service. Also included in Eastern Com-

munications portfolio of cloud solutions are value-added features for enhanced security and high availability, such as disaster recovery-asa-service, live migration services, access control lists, Distributed-Denial-of-Service (DDoS) protection and many more with 24/7 live customer support via telephone, chat, e-mail and Zendesk online ticketing system. “CloudSigma is proud to join forces with Eastern Communications, a leader in the Philippine telco industry, to launch its public cloud solutions providing the full spectrum of infrastructure and IT Services. Through this partnership, we’re looking forward to providing public IaaS services across the Philippines from Eastern Communications’ datacenter in Manila, linking it to the global network,” said CloudSigma CEO Robert Jenkins. CloudSigma’s products and services will be available in the Philippines by the third quarter of 2019.

Widus, AboitizPower partner for clean, sustainable energy

L A R K FR EEPORT—T he owner and operator of a premier destination in this freeport has partnered with a leading listed company for clean and renewable energy. Widus International Leisure Inc. (WILI), owner and operator of Widus Hotel and Casino, and the Marriott Hotel here, signed an agreement with AboitizPower to supply its complex with so-called clean energy. During a roundtable at the hotel’s Prism Lounge here on Wednesday, WILI tapped AboitizPower for a 2.5-megawatt (MW) energy requirement, an expansion of its previous 1.5-MW supply deal inked last year. Aboitiz now supplies WILI with 100 percent of its power requirements. “Apart from being known for our signature warmth and hospitality, we are proud to be a company that values sustainability [by utilizing clean energy],” said Neki A. Liwanag, WILI assistant vice president for corporate planning and compliance. The Aboitiz group led by fifthgeneration Aboitiz scion, Mikel Aboitiz, market strategy manager, said it will supply WILI with geothermal energy from its plant in Laguna and Batangas in southern Luzon.

AboitizPower Chief Operating Officer Emmanuel V. Rubio said: “There are a lot of energy companies in the Philippines, so we are really honored to be the preferred partner of Widus in its journey toward sustainability.” He added that with AboitizPower’s proven track record in the industry, as well as adequate capacity of Cleanergy, “we are confident we will be able to support the current and future energy needs of Widus.” Felino M. Bernardo, CEO of Aboitiz Power Generation Group, also said that in addition to having enough capacity, the company strives to optimize its power plants for the ultimate benefit of the consumers. The energy supply is being sourced from one of the energy company’s renewable plants, the MakBan geothermal power plant that straddles the provinces of Batangas and Laguna. WILI signed a power supply agreement with AboitizPower under the Retail Competition and Open Access (RCOA) scheme, which allows businesses and institutions with a monthly average peak demand of 750 kilowatts (kW) to source their energy supply from a Retail Electricity Supplier. In the retail electricity market, customers are given the opportunity to choose the supplier and

OceanaGold seeks injunction for continued copper-gold mine operations at Didipio

ONTESTING the authority of local government units (LGUs) to stop large-scale mining operations, OceanaGold Corp. has filed an injunction against “unauthorized restraint of its operations” at Didipio mine, a high-grade copper-gold mine in Nueva Vizcaya Province. Subsequently, OceanaGold, one of the country’s top copper and gold producers, is set to assert its right to continue operation, anchored on the permit it has obtained from national government regulators, and the permitting process it has hurdled under the Philippine Mining Act of 1995. A hearing is set on July 10, Wednesday. In a statement, OceanaGold Corp. said the petition for an injunction was filed in response to an order from the governor of Nueva Vizcaya directing the LGU to stop the company’s operation of the mines on the ground of its expired financial and/or technical assistance Agree-

ment (FTAA) which lapsed on June 20, 2019. The statement did not reveal to which institution it has filed the injunction. Anti-mining protesters have been barricading entry and exit routes to the mine in Barangay Didipio in Kasibu town since the company’s FTAA expired last month and has called on President Duterte to nix the company’s application to renew its mining permit on account of alleged massive environmental destruction and human-rights violations committed against the communities. OceanaGold said that subsequent to the governor’s order, a local government unit prevented a large supply truck from accessing the mine site on Monday, July 1. While operations continue at the mine, the company proactively halted truck movements, including copper concentrate, to prevent the potential for escalation. Jonathan L. Mayuga

rate that will allow for savings and security from market volatility. The partnership was established in 2018 when WILI made the switch to the listed company’s brand of clean and renewable energy. AboitizPower and WILI celebrated their partnership through a

MUTUAL FUNDS

ceremonial awarding of the Cleanergy plaque on Wednesday after the roundtable with the members of the media. Meanwhile, Aboitiz said some 10 locators here have also inked agreements for sustainable energy with them. Ashley Manabat

July 4, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 269.55 7.99% -0.21% 1.21% 6.88% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6645 16.05% 8.32% 3.32% 15.53% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1829 6.03% -0.2% 0.42% 7.17% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9611 10.08% N.A. N.A. 6.67% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8891 9.05% N.A. N.A. 8.33% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.573 8.88% 0.93% 1.09% 5.68% MBG EQUITY INVESTMENT FUND, INC. -A 122.55 13.99% N.A. N.A. 5.5% ONE WEALTHY NATION FUND, INC. -A 0.8962 6.98% -3.73% N.A. 7.11% PAMI EQUITY INDEX FUND, INC. -A 53.3749 10.88% 0.54% N.A. 8.43% PHILAM STRATEGIC GROWTH FUND, INC. -A 554.33 9.31% -0.42% 1.01% 7.69% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3505 10.99% 1.62% 3.42% 7.7% PHILEQUITY FUND, INC. -A 39.6476 11.53% 2.26% 2.88% 8.23% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0696 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.4156 11.96% 1.54% 3.26% 9.21% PHILIPPINE STOCK INDEX FUND CORP. -A 904.38 12% 1.26% 3.22% 9.17% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9429 12.16% 0.55% N.A. 9.64% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.4206 11.75% 1.46% 2.67% 8.91% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.039 11.42% 1.21% N.A. 8.88% UNITED FUND, INC. -A 3.8013 9.94% 2.98% 3.39% 8.58% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 121.0849 12.43% 2.16% 4.28% 9.33% ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0125 -0.45% 6.63% 0.04% 8.98% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.3156 3.76% 9.85% N.A. 19.04% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7623 7.36% -1.31% -1.01% 6.73% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3496 5.33% 0.16% 1.02% 6.36% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6952 6.91% 0.19% -1.01% 5.98% GREPALIFE BALANCED FUND CORPORATION -A 1.3677 4.36% N.A. N.A. 4.86% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9576 7.26% 0.6% 1.5% 6.21% PAMI HORIZON FUND, INC. -A 3.7837 7.45% -0.54% 0.73% 7.21% PHILAM FUND, INC. -A 17.054 8.41% -0.38% 0.78% 7.21% SOLIDARITAS FUND, INC. -A 2.1678 6.21% 0.61% 1.91% 4.77% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9334 9.67% 0.71% 1.78% 7.73% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0309 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0323 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.029 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0082 10.54% 0.83% 1.45% 9.38% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03757 8.15% 1.69% 2.08% 6.43% PAMI ASIA BALANCED FUND, INC. -A $1.0016 -0.25% 4.03% -0.65% 9.62% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7875 4.78% 6.84% 2.81% 14.47% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1156 5.05% 4.35% N.A. 10.46% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 350.32 3.44% 2.02% 2.21% 1.99% ATRAM CORPORATE BOND FUND, INC. -A,1 1.9007 2.24% -0.02% -0.11% 2.23% COCOLIFE FIXED INCOME FUND, INC. -A 3.0508 5.53% 5.28% 5.27% 2.51% EKKLESIA MUTUAL FUND INC. -A 2.1893 3.37% 1.17% 1.95% 2.82% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3163 4.54% 1.01% 1.41% 5.04% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6056 2.27% -1.18% 0.1% 2.63% PHILAM BOND FUND, INC. -A 4.1887 6.29% 0.04% 1.36% 6.86% PHILEQUITY PESO BOND FUND, INC. -A 3.6815 6% 1.35% 1.46% 4.67% SOLDIVO BOND FUND, INC. -A 0.9414 4.36% -0.4% N.A. 5.63% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.966 8.34% 1.61% 2.22% 7.24% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6474 8.28% 1.21% 1.74% 6.98% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $458.96 3.74% 1.73% 2.76% 2.36% ALFM EURO BOND FUND, INC. -A Є217.99 2.42% 1.51% 1.53% 2.5% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.185 6.66% 1.83% 2.49% 5.27% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0257 4.05% 1.06% N.A. 3.63% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7155 1.41% -1.86% 0.65% 1.5% PAMI GLOBAL BOND FUND, INC -A $1.0891 5.4% -0.31% -1.92% 5.1% PHILAM DOLLAR BOND FUND, INC. -A $2.3562 10.07% 1.2% 3.34% 8.54% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0593228 4.6% 1.64% 1.85% 4.08% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.0969 7.54% 0.43% 2.79% 7.83% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.58 3.74% 2.43% 1.95% 2.23% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0152 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2154 3.95% 1.75% 1.07% 2.83% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2451 3.72% 2.67% 2.04% 2.12% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0283 2.16% N.A. N.A. 1.22% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU). 1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018. 3 - LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019.

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Friday, July 5, 2019

ING: Savings suffer in economy dependent on consumption

By Bianca Cuaresma

@BcuaresmaBM

HILE strong household spending has consistently been propping up the local economy to robust growth rates in recent years, Filipino households would need to rethink their saving habits for sustainability and diversification of the country’s economic profile, a private economist said. ING Bank Manila economist Nicholas Antonio T. Mapa said the consumptiondriven Philippines will need to start saving up, as this will be beneficial in aiding the country’s current-account deficit. “Propelling the country’s GDP [gross domestic product] growth of 6.2 percent in 2018—one of the highest rates in Asia for the past 10 years—is the Filipino consumer’s voracious appetite for spending, boosted by overseas workers’ remittances and business-process outsourcing income,” Mapa said. “On the other hand, World Bank data from 2017 show this savings-to-GDP ratio remained relatively unchanged even as the country enjoyed a climb in per-capita GDP to $2,988 from $715, as growth momentum picked up since 2012,” Mapa said. The country’s savings-to-GDP ratio is at 15.2 percent—one of the lowest in the

region. Mapa noted that the Philippines’s savings rate is in marked contrast with its Southeast Asian neighbors like Indonesia and Vietnam, whose savings-to-GDP ratios are almost 10-20 percentage points higher for the same period. “We are now seeing how overly strong consumption, thus relatively weak savings, may lead to other challenges,” Mapa said. “Being a savings laggard can lead to a current-account deficit, which results when there is a savings-investment gap. When we run an SI gap, we are a ‘net borrower’ from the rest of the world. This usually results in a current-account deficit as we use more dollars than we earn, which can then put added pressure on the peso to weaken.” Mapa said consumption will not have to suffer should Filipino households start saving up more. “Savings is also consumption—just at

Agents raid printer of fake tobacco tax stamps, labels

OVERNMENT agents on Wednesday raided a factory that prints fake tax stamps and labels used for fake tobacco products, the Department of Finance said. According to Finance Secretary Carlos G. Dominguez III, a joint team of the National Bureau of Investigation (NBI) and the Bureau of Internal Revenue (BIR) raided the factory on July 3. “The raid in Malabon printing facility is positive,” he said. “Not only does the site produce fake labels, it also prints fake stamps.” Documents from the DOF showed the printing machine can produce 3,500 pieces of tax stamps per hour. “At P35 per stamp, that’s P122,500 in lost revenue per hour,” Dominguez said. “If the machine operates eight hours a day, five days a week, 50 weeks a year, it can produce P245 million per year of fake tax stamps.”

PCAAE: Year 3

The unlawful possession of articles subject to excise tax without payment of the tax, and for possessing false, counterfeit, restored or altered stamps, is a violation of the National Internal Revenue Code. At least 43 master cases of Winston brand; 91 master cases of Mighty cigarettes; 82 master cases of Marvels brand; 11 master cases of Chunghwa cigarettes; 71 master cases of Two Moon brand; 37 master cases of Fortune brand; and eight master cases of Marlboro brand were seized from two Malabon warehouses with initial estimates showing that the cigarettes were worth P8 million. Last December 2018, the DOF reiterated its order to the BIR and Bureau of Customs (BOC) in line with stopping the illicit entry of cigarette-making machines in the country, to deter the making of counterfeit tobacco products. Rea Cu

T was on June 29, 2016, Promotions Board (TPB), the Philippine when the Philippine International Convention Center, and Council of Associations my organization, the Association of and Association Executives Development Financing Institutions in Association World Asia and the Pacific (ADFIAP). (PCAAE), represented by Octavio Peralta myself as founder and CEO, Currently, PCAAE has 300 members and Cora Conde, chairperfrom 270 associations and other memson of its board of trustees, signed a memoranbership organizations, and has three flagship dum of agreement with BusinessMirror Publisher programs: (1) the annual Associations Summit, T. Anthony C. Cabangon. Since that auspicious now on its seventh year on November 27 and 28, day, there have been 135 articles published in at the PICC; (2) the “Ang Susi” (Associations Nurthis column, three PCAAE Association Summits ture National Growth through Social Unity and supported and numerous news releases printed Sustainability Innovations) Awards that honor under the partnership. This continues to this day associations for their role in nation-building; with new Editor in Chief Lourdes Fernandez. and (3) the Certified Professional Association The cooperation may seem simple and pasExecutive (CPAE) program, a six-module cresive, but it’s not. It goes beyond article publishdentialing course, now with 42 graduates. In ading and event promotion. The partnership is dition, PCAAE publishes e-newsletters and the actually about advocating for, educating, and Association World magazine, and has extensive recognizing associations and other membership networks globally for knowledge exchange and organizations in the country. It is also about comcapacity-building collaboration. municating the important role of associations in All these would not have been possible withsociety and national development. out the support of BusinessMirror, which we could Based on research, there are about 250,000 consider as the “Associations’ Newspaper.” nonstock, nonprofit organizations (including associations) in the Philippines registered with The column contributor, Octavio “Bobby” Peralta, the Securities and Exchange Commission. There is concurrently the secretary-general of the Association could be thousands more unregistered ones and of Development Financing Institutions in Asia and the operating in the countryside. The role these orPacific (ADFIAP) and the CEO and founder of the Philipganizations play has a profound impact—from pine Council of Associations and Association Executives. providing disaster relief to developing entreprePCAAE is holding the Associations Summit 7 (AS7) on Noneurship and industry standards, from conductvember 27 and 28, 2019, at the Philippine International ing specialized education on various fields to Convention Center (PICC), which is expected to draw facilitating trade and investment, and from enover 200 association professionals here and abroad. hancing volunteerism to promoting tourism and The two-day event is supported by ADFIAP, the Tourmany more. It is indeed the “silent working third ism Promotions Board and the PICC. E-mail inquiries@ sector” aside from the public and private sectors. adfiap.org for more details on AS7. Most associations (trade and professional societies) in the country are governed and managed by volunteers, which is fine. However, there is an alternative, as in the case of the US and Europe, where associations are managed by professional association executives. This is what the PCAAE is advocating for: similar to its for-profit counterparts, i.e., a separate board and management structure for better continuity, policy-setting, oversight and strategic direction. PCAAE was borne out of three institutions coming together with a common goal: good governance and efficient management for associations. These institutions are the Tourism

a later date,” he added. “One does not need to consume less to have a good amount of savings to secure further spending in the future. In fact, saving today ensures you can shop, invest and indulge over a longer period of time.” Mapa explained that “with incomes rising, perhaps the Filipino consumer may try setting aside a higher percentage for saving while still enjoying the same level of consumption.” In the Bangko Sentral ng Pilipinas’s (BSP)

quarterly survey of consumer expectations, the Central Bank’s data showed the overall percentage of households with savings went down from 36.6 percent to 35.2 percent in a span of three months. The hardest hit segment during the period were the low- and middle-income earners in areas outside the National Capital Region (NCR). The BSP said according to respondents, Filipino households mostly save money for the following reasons: emergencies, edu-

cation, health and hospitalization, retirement, purchase of real estate, and business capital and investment. Overall, consumer confidence was bleak during the quarter as concerns for higher prices of goods and household expenses were cited. The BSP also said respondents were ailing on poor health and high medical expenses, as well as struggles with water crisis, which may have also contributed to their pessimistic sentiment.

B4 Friday, July 5, 2019

Philam Life’s ‘100 Run’ is a whole new challenge for racers

ORED with the same old race? Philam Life’s Hong Kong-based parent company AIA breathed in a new life with “The 100 Run”, a fun obstacle race

peppered with stations built to challenge every muscle in your body, in celebration of its 100th anniversary. It’s a happy blend of cardio and strength training, combined to

provide participants with an unforgettable race-day experience. The 100 Run is a 5-kilometer course that has ten stations composed of rows of hurdles, 10-meter-long challenges and various types of obstacles—ultimately amounting to a hundred worth of fun run excitement. Participants went through limbo racks, ran through a tunnel, wiggled their way out of a spider maze, jumped on tires and went down an inflatable slide to get to the finish line. To make The 100 Run more exciting, Philam Life brand ambassadors Mond Gutierrez, Solenn Heussaff, Nico Bolzico and Wil Dasovich were called in to form their own “runbassadors,” a team of 25 members each,

challenging their members to run faster than others to earn more points. With Team Mond coming out on top, it was an exhilarating run for the team members, with each one bringing home a Garmin Vivofit 4 watch. The 100 Run was not only a chance to hold a fun fitness activity. It was also an opportunity to give back to the community, with a portion of the proceeds from the ticket sales donated to Philam Paaralan, Philam Foundation’s education-oriented program that aims to empower the Filipino youth by building classrooms in remote areas around the country. Know more about Philam Life by visiting philamlife.com or e-mailing philamlife@aia.com.

THE SM STORE’S ‘LUGGAGE BOY’ BAGS INTERNATIONAL AWARD

HE SM Store sales associate Christian “Xian” Tecson was named the first runner-up in the World’s Best Sales Associate at a Department Store category of the World Department Store Forum 2019 held at the Ritz-Carlton Tokyo. Known as the SM Store’s “Luggage Boy”, Xian currently works as a sales associate, under the luggage department of The SM Store Lipa. He has attracted much attention by infusing creativity, fun and innate customer interface in his work with his gasp -out-loud technique in selling luggage. X ian does creat ive sel l ing through “info-tainment” where he’s able to explain technical product features in the most entertaining and captivating way. What’s more interesting about his creative selling approach is the way he incorporates dance skills, including his trademark split in his routine, which is now known the “Zipper Dance”. Last July he has gone viral in social media after one of his customers uploaded a video of him on Facebook while he explains and demonstrates the features and durability of the luggage he was vending that time. This was featured in different platforms, including four local television networks, and nine loca l broadsheets and digita l

web-site pages. The SM’s Luggage Boy went global, including Korea’s SBS News and Australia’s ABC News. Xian also became The SM Store’s Customer Service Rewards national champion in 2018, a rewards program that aims to recognize all frontline-service providers of The SM Store who consistently deliver exceptional shopping experience. Shown in photo with their trophies are Tecson (center), The SM Store Ssenior Vice President and business unit head for shoes, bags and accessories Aldwin Co (left), and IGDS President Paolo de Cesare.

SEASONED HR PRACTITIONER AUTHORS OWN GUIDE BOOK

ERT IFIED hu m a n resou rce (HR) professional Ronaldo Turla has released his book, titled The HR Compass. He has more than a decade of experience in the field of HR management with the convenience-retail

store and restaurant industry. He now manages his own HR and training-consultancy firm that caters to growing businesses in the Metro Manila. This is considered as the ultimate guide for entrepreneurs on how to start your HR departments. Turla uses a combination of steps on how to set the HR function, as well as case studies that he has handled. It provides an easy guide together with usable forms to handle the setting up of HR in the company. Turla has worked for almost 20 years in the industry, both on the corporate and consulting. He has also been invited to be a regular speaker for HR organizations who provides seminars, education and learning to HR professionals. He specializes on HR management setup, emotional intelligence and leadership development.

HAIER, MARKES PRESENT AT MAFBEX 2018 Haier and Markes, world-class home appliances, concluded its participation to the 12th Manila Food and Beverages (Mafbex 2018) at the World Trade Center from June 13 to 17, 2018. Both Haier and Markes brands are distributed by Continental Sales Inc. and can be availed of at all major appliance stores nationwide, with over 120 service centers all over the country. For more details and information, visit www. LKG-Group.com and http://www. lkg-group.com/csi.

CELEBRATING PHILIPPINE HERITAGE AT LAKBAY MUSEO

HERE’S an entire generation of people who hunger for travel, and live for the excitement of discovering new sights and places to explore. Under the Sea

The Royal House

The Ifugao House

This rings true for many young Filipinos who are now discovering and revisiting many of the Philippines’s best vacation spots, immersing themselves with the country’s unique history through festivals, fashion and food. Presenting the best that the Philippines has to offer and so much more is Lakbay Museo. A project of The Millennial Concept Factory Inc., headed by President Lawrence Li Tan, Lakbay Museo offers a chance for young people to travel across the Philippines and know more of the country’s history, food, music, arts and culture in one massive space. Lakbay Museo presents a showcase of unique experiences, from tasting regional cuisine, seeing

traditional textiles to standing across many of the prominent tourist spots in the Philippines, such as Mayon Volcano in Albay and Magellan’s Cross in Cebu. The Instagram-worthy exhibits present an artistic take on the colorful fabric of our country. Aside from real food to eat and real handmade products to enjoy, Lakbay Museo features the masterful work of local artists who have created thousands of realistic replicas of various market produce—a multitude of fish species, and a variety of vegetables and fruits lovingly crafted to display the many things one has yet to discover. That’s not all. Lakbay Museo is an interactive experience with people who represent many of the regions to talk to and entertain you as you go around. A puppet show educates children on Philippine heritage, and dance troupes perform on the big stage. In total, Lakbay Museo presents over 11 Philippine landmark destinations and hundreds of artifacts covering rice and coffee variants, market produce and food staples that represent the unique variety of the Filipino people. Lakbay Museo features the traditional clothing woven by actual ethnic and indigenous groups across the country. Over 120 synthetic mannequins wearing

authentic Filipino fashion, and original tapestries and fabrics are on display. Over 600 regional dishes were gathered to showcase more than just the usual adobo, tinola or sinigang that we are used to. Of course, who can forget about everyone’s favorite bagoong? More than one variety is available. And what about suka? Different levels of sourness can be had from various regions, giving you a literal taste that is so distinct for each area of the country. Don’t be surprised when Lakbay Museo staff randomly burst into dance with familiar and unusual moves from many Filipino fiestas and celebrations. The same goes for memorable music pieces and artworks that young people can recognize and rediscover. Located at S Maison in Conrad Manila at the Mall of Asia complex, Lakbay Museo was built on the foundation of environment conservation. The museum also provides job opportunities to out of school youths, nonprofessionals, local artists, disabled persons, and senior citizens. Lakbay Museo is the place to celebrate our unique identity. For more information, e-mail at mabuhay@ lakbaymuseo.ph.

Sports BusinessMirror

| Friday, July 5, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

COCO GAUFF: It just shows if you really work hard, you can get where you want to go. AP

GAUFF PROVING SHE’S FOR REAL With big shots and a calm beyond her years, Coco Gauff followed up her upset of Venus Williams by moving into the third round at Wimbledon on Wednesday night by beating Magdalena Rybarikova of Slovakia under a closed roof at No. 1 Court.

By Howard Fendrich

win over Williams. “I could lie and say I felt normal,” said Gauff, who lives in Florida. “It was honestly so hard, just with social media and everything, trying to focus on my next match, because people are still posting about Venus.” There were direct messages via social media from “a lot of celebrities,” including some TV actresses, Gauff said. “I’m kind of starstruck,” she said. “It’s been hard to reset.” Did not seem that way once she stepped on the court. Next up is 28-year-old Polona Hercog of Slovenia. What sort of advice has Gauff been getting from her parents? This is, after all, so new to her. Sure, she’s been gaining attention for a few years, after reaching the US Open junior final at 13 and winning the French Open junior title at 14. And she is represented by Roger Federer’s management company. “They just told me, ‘You have another match. The tournament’s not over. Don’t focus too much on what happened.’ My goal is to win it,” she said. “They just told me, ‘Keep yourself grounded.’ I think I’ve always just done a good job of that.” All eyes, meanwhile, will be on the marquee matchup between Rafael Nadal and Nick Kyrgios at Wimbledon. It is a rematch from 2014, when a 19-year-old Kyrgios upset then-No. 1 Nadal at the All England Club. In other second-round action on Thursday, Serena Williams and Roger Federer will play their matches at the All England Club’s second-biggest court. They have won a combined 15 singles titles at Wimbledon and are accustomed to playing most of their matches on Centre Court. This time, Federer will be on No. 1 Court against 20-year-old Jay Clarke of Britain. Williams will follow in that arena, facing 18-year-old Kaja Juvan of Slovenia. Andy Murray will make his debut at this year’s tournament, playing men’s doubles with Pierre-Hugues Herbert against Marius Copil and Ugo Humbert.

The Associated Press

IMBLEDON, England—There are ways in which Coco Gauff is just like any other 15-year-old American, watching whatever videos YouTube recommends for her, from makeup tutorials to anything that’ll make her laugh. And then there is what happens when Gauff has a tennis racket in her hands, making her unlike most anyone else in the world—now or ever. With big shots and a calm beyond her years, she followed up her upset of Venus Williams by moving into the third round at Wimbledon on Wednesday night via a 6-3, 6-3 victory over Magdalena Rybarikova of Slovakia under a closed roof at No. 1 Court. “It just shows if you really work hard, you can get where you want to go,” said Gauff, who received a wild-card invitation for the qualifying competition, then became the youngest player in the professional era to get through those pretournament rounds and reach the main draw. “Last week around this time, I didn’t know I was coming here. It just shows you have to be ready for everything.” She certainly has looked ready. Hasn’t dropped a set yet. Might be time to start picking on some opponents her own age. After eliminating the 39-year-old Williams—who won four of her seven Grand Slam titles before Gauff was born—she needed less than 70 minutes to get past the 30-year-old Rybarikova. Gauff didn’t face a break point in the second-round match, and again played cleanly, this time with only 10 unforced errors. The toughest part for Gauff might have been dealing with everything on the periphery that came with that

THE first player born in the 2000s to win a men’s match at a major, Felix Auger-Aliassime progresses to the third round in his debut at the All England Club. AP

SPOTLIGHT ALSO ON YOUNG CANADIAN W

IMBLEDON, England—Dealing with jitters early in a match is nothing new to Felix Auger-Aliassime. Being among the favorites to win Wimbledon? Considering the Canadian is just 18 and never had won so much as one Grand Slam match until this week, well, yes, that’s not the sort of thing he is used to. One more victory, and the kid known to many by his initials, “FAA,” could be taking on defending champion Novak Djokovic. Not that he’s worrying about that just yet. The first player born in the 2000s to win a men’s match at a major, the 19th-seeded Auger-Aliassime progressed to the third round in his debut at the All England Club with a 6-3, 4-6, 6-4, 6-2 victory over French qualifier Corentin Moutet on Wednesday. “I can recall being 10 years old and playing [for] the first time away from home and being very nervous. Since [I was] very young, you kind of learn how to deal with this pressure, with the stress,” he said. “But at different stages of your career, you face different times. Now it’s Grand Slams. Maybe one day I’ll play finals of these events and I’ll be, for sure, extremely nervous. I think it’s emotions you can’t go against. It comes—and then it all depends on how you deal with it. Today, I was able to deal with it in a good way.” Auger-Aliassime is hardly the only one contemplating the possibility that he could play for a major championship in the not-too-distant future. Much like Coco Gauff, the 15-year-old American who beat Venus Williams on Monday and won again on Wednesday, Auger-Aliassime is

fascinating folks because of his play, but also his age. Tennis has been waiting for quite some time to discover a worthy successor to the Big Three of Roger Federer, Rafael Nadal and Djokovic, who have won the past 10 major titles and 53 of the last 64. So there is a bit of irrational exuberance whenever some youngster comes along with the sort of talent and poise Auger-Aliassime seems to possess in abundance. As of Wednesday evening, British bookmakers were listing Auger-Aliassime at 25-1 odds to lift the Wimbledon trophy, behind only the top 3 seeds: No. 1 Djokovic, No. 2 Federer and No. 3 Nadal. That’s remarkable. The Montreal native only played one Grand Slam match, and lost it, until this tournament. He had never been ranked above 108th until this season. But who else is there to rate right behind the game’s dominant figures? It’s just three days into the fortnight and the guys ranked Nos. 4-6—Dominic Thiem, Alexander Zverev and Stefanos Tsitsipas, guys in their 20s all touted as up-and-comers—already are gone, as is three-time major champion Stan Wawrinka, who lost to 21-year-old Reilly Opelka of the US in five sets. “I understand that people want to see a new winner of a Grand Slam. They don’t want to see three of us dominating the Slam titles. Eventually it’s going to come,” Djokovic said, then waited a comedic beat before adding with a smile: “in about 25 years.” Djokovic moved into the third round by dismissing Denis Kudla of the United States 6-3, 6-2, 6-2.

“There were some moments in the match,” Djokovic said, “where maybe I could have done better.” Whatever you say, Novak. He will face 22-year-old Hubert Hurkacz of Poland on Friday; Auger-Aliassime takes on 21-year-old Ugo Humbert of France. “I know if I win, I could play Novak. But then there is a match to play. Once the match gets going, you’re already in enough trouble in the court,” Auger-Aliassime said, “you don’t really think of what could happen.” He boasts a big serve that reached 131 mph on Wednesday and helped him save 12 of 14 break points. His forehand can end a point when he needs it to. So can his backhand. And his returns were good enough to win the first point in 11 of Moutet’s 18 service games. After losing to him at a grass-court tune-up event last month, Tsitsipas called Auger-Aliassime “the most difficult opponent I’ve ever faced,” agreed with the premise that he could go deep at Wimbledon this year and offered this prediction for down the road: “He can win Grand Slams, to be honest with you.” Auger-Aliassime is trying not to pay too much attention to that kind of talk, saying that he cares more about his own goals and self-belief than any outside views. When a reporter asked about the idea that he might be looked upon to “carry the sport forward,” Auger-Aliassime replied: “’Carry the sport’ is a bit much. Obviously, yeah, there’s a bit of a pressure. I think it’s quite funny, because I think for a lot of players, when they play their first Grand

Slam, they have zero expectations. No one talks about them.” With him, that’s not the case. Not at all. Reilly Opelka still is getting used to some aspects of visiting Britain. The bed frame where he stayed during a Wimbledon tune-up tournament that wasn’t quite big enough for the 6-foot-11 American, for example. The lack of airconditioning compared to back home in Florida. As for the grass-court tennis? Opelka is increasingly comfortable with that, as demonstrated by a 7-5, 3-6, 4-6, 6-4, 8-6 second-round victory over three-time major champion Stan Wawrinka at the All England Club on Wednesday. “Every year I come here, and, like, ‘Why is there no AC?’ They’re, like, ‘Oh, it’s never hot here.’ Every year, it’s over 80 degrees!” Opelka said. He is ranked 63rd and is unseeded for his main-draw debut at Wimbledon, where he won the 2015 junior title. But against a far-more experienced and far-more accomplished player, he pounded eight of his 23 aces and saved both break points he faced in the last set, fending off 10 of Wawrinka’s 12 break chances in all. At 6-all in the fifth, Opelka erased a break chance with a 140 mph service winner, then followed with two more serves Wawrinka failed to put in play, at 133 mph and 137 mph. It was Opelka’s ability to adjust his style, serve-andvolleying only three times in the final set, and to hang in there on longer exchanges that made this upset possible. “I’ve always been a pretty good mover. Underrated,

actually,” said the 21-year-old Opelka, participating in only his fourth major tournament. “I think sometimes when I play guys for the first time, they don’t expect it. It helps me win so many points, being able to [track] down some extra balls, especially in the key moments.” It was the 22nd-seeded Wawrinka’s groundstrokes who failed him, with four errors that helped Opelka earn the only service break of the fifth set in the last game. When it ended, Opelka yelled, “Come on!” and then pounded his chest. “At the end, he went for it,” Wawrinka said. “He went bigger than me, and he deserved to win.” So maybe it’s time for Opelka to stop downplaying his chances this fortnight. Before facing Wawrinka, Opelka called it a “brutal matchup.” Afterward, Opelka referred to Wawrinka as “the main attraction.” On Friday, in his first appearance in third round of any Grand Slam tournament, Opelka will face someone else he labeled “the favorite”—2016 Wimbledon runner-up Milos Raonic, who is seeded 15th. “He’s as good as it gets when it comes to grass, so really, really excited for that matchup,” Opelka said. “It’s going to be a really big challenge playing a guy as good as he is on this surface.” The same could be said of Opelka right now. “He plays aggressive. He goes for it. He tries to keep you offbalance. He’s hard to get a rhythm on, because not only does he finish things off pretty quickly with his serve and getting ahead that way, but he’s constantly swinging for his other shots,” said Raonic, who entered Wimbledon dealing with a lingering back issue and had some issues with his left calf during Wednesday’s straight-set win over Robin Haase. “He doesn’t really hold back. It’s hard to sort of work yourself into the points.” AP

Spo

Business

C2 Friday, July 5, 2019

JAWORSKI TO GRACE 3X3 FINALS

ARANGAY Ginebra legend Robert Jaworski Sr. will award the championship trophy and the P250,000 cash prize to the champions of this year’s Ginebra 3x3 Tapang ng Tatluhan basketball tournament on Sunday at the Araneta Coliseum, Quezon City. The Ginebra 3x3 Tapang ng Tatluhan is the first-of-its kind nationwide grassroots basketball program initiated by Ginebra San Miguel and the Philippine Basketball Association (PBA) to help scout for the best basketball talents around the country. Now on its fourth year, the tournament is even more significant as the 3x3 basketball event is now officially included in the 2020 Olympics. With the bigger prize money, Ginebra San Miguel hopes to reach out to even more basketball communities and give young players the opportunity to further improve their craft. A total of 16 teams representing Manila, Cebu, Davao, Caloocan, Quezon, Iloilo, Bulacan, Cagayan de Oro, Tarlac, Cavite, Samar, Rizal, Pangasinan, Batangas, Bataan and Pampanga will compete in the National Finals on Friday at Robinsons Place Manila. The final two teams will move forward to the championship round. Aside from the main 3x3 tournament, a slamdunk competition and three-point shootout will be held during the National Finals. The top dunker and top scorer will each win a P10,000 cash prize and a trophy. To celebrate 40 years of Barangay Ginebra San Miguel, a meet and greet with players Stanley Pringle, LA Tenorio and Mark Caguioa will be held at the exhibit area, which features the various jerseys of the popular basketball franchise.

Serbians clobber Filipino dribblers

THE Beermen are hoping to end their misery by bringing in journeyman Chris McCullough.

SMB FIGHTS FOR SURVIVAL

S BARANGAY Ginebra legend Robert Jaworski is bound to inspire the young players.

AN MIGUEL Beer fights for survival when it takes on NLEX in the Philippine Basketball Association Commissioner’s Cup on Friday at the Mall of Asia Arena in Pasay City. The Beermen are far from the invincible team they are now for with a measly record of two wins against five losses—just enough for 10th spot in the midseason conference. They look to end the misery by bringing in journeyman Chris McCullough as replacement for Charles Rhodes. McCullough takes command when they face the Road Warriors (2-7) at 7 p.m. Magnolia (5-2), meanwhile, tries to extend its streak when it tackles Blackwater (5-3) in the first game at 4:30 p.m. With Rhodes on board, San Miguel set sail on turbulent waters and recently took an 82-118 loss to Magnolia and a close 132-134 setback to Columbian. His farewell game was against the Dyip—an

overtime loss where the double-figure outputs of six Beermen fell short against the young Columbian core. Rhodes scored 26 points, while June Mar Fajardo and Marcio Lassiter had 24 and 19 as bad luck continued to haunt the five-time All-Filipino champions. Coming to the rescue is McCullough, who had stints with the Brooklyn Nets and Washington Wizards. The 6-foot-9 big man from Bronx, New York, also played in leagues in China and Puerto Rico. Out to challenge the new import of San Miguel are the Olu Ashaolu-led Road Warriors, who are coming off a 100-97 win over the Rain or Shine Elasto Painters last week. Ashaolu’s return to NLEX immediately paid dividends. He scattered 26 points and had 13 rebounds and six assists. He will also be the team’s reinforcement in the next Governors’ Cup. Ramon Rafael Bonilla

ILAS Pilipinas Youth showed pure heart, but it wasn’t enough to beat a giant like Serbia, which gave the Filipinos an 87-60 beating that kicked them out of contention in the Fiba Under-19 World Cup on Thursday in Heraklion, Greece. Dave Ildefonso handled the scoring load with 18 points despite turning the ball over seven times, but his efforts, along with the productions of Kai Sotto and Gerry Abadiano, couldn’t pull the team out of elimination in the knockout round. The Philippine dribblers faces Australia in the classification match on Friday. Sotto had 13 points, eight rebounds and three assists, while Abadiano added 12 built on three three-pointers. Gilas started with much confidence and was on the lead, 12-8, behind the strong showing of Ildefonso and Abadiano. But the Serbians, ranked fourth in the world, unleashed an 11-2 run to swing the momentum it protected until endgame. The onslaught continued in the closing stretch of the first half, when Serbia had a huge 17-1 run to put the game out of reach, 39-19. Marko Pecarski scored 21 points to pace Serbia, while Filip Petrusev and Dalibor Ilic added 17 and 13, respectively. Despite the early exit, the campaign of the Filipinos will head to the history books as the country’s first appearance on the world youth stage since 1979. Australia made waves in Group C with two wins against Mali and Latvia and a five-point loss to Canada. The success was cut short in the round of 16, where the Australians were dealt a 74-91 beating by Lithuania. Ramon Rafael Bonilla

orts

sMirror

Friday, July 5, 2019 By Ramon Rafael Bonilla

YCLING Association Head Rep. Abraham “Bambol” Tolentino announced his intention to run for the presidency of the Philippine Olympic Committee (POC), which, upon instruction of the International Olympic Committee (IOC), will hold elections on July 28 for four positions in the Executive Board. Tolentino—who resigned as POC chairman along with boxing’s Ricky Vargas (president), archery’s Clint Aranas (board member) and gymnastics’ Cynthia Carrion (board member)— made the announcement at a well-attended press conference at the Golden Bay Restaurant in Parañaque City. “Yes, I will run to end it once and for all,” Tolentino told media as he reiterated his drive to conclude the mess that has hounded the

Ramirez names 2 more deputies

A F2 LOGISTICS’ Majoy Baron soars high for a spike.

CARGO MOVERS NEAR SWEEP

2 LOGISTICS moved closer to a first-round sweep after making short work of Sta. Lucia, 25-15, 25-14, 25-21, in the second stop of the Philippine Superliga All-Filipino Conference Spike on Tour at the Natalio G. Velez Sports and Cultural Center on Thursday in Silay City. Filipino-American Kalei Mau was at her best, piercing the Lady Realtors’ defense with time hits to tow the Cargo Movers to their sixth straight win. Mau delivered 14 points off 10 kills and three aces while Ara Galang had 11 markers for the Cargo Movers, who displayed their championship form early on that left the Lady Realtors struggling to keep up. Skipper Aby Marano also had an impressive performance with 10 points laced with two blocks and an ace while Michelle Cobb delivered 20 excellent sets to compliment the 19 digs of Dawn Macandili. The Cargo Movers have a golden chance of sweeping the first round when they face rookie team Marinerang Pilipina next Thursday at the Muntinlupa Sports Center. “As I’ve said before, we’re not after the record

in the elimination round because it will have no bearing in the playoffs,” said Head Coach Ramil de Jesus. “All we’re looking to get and develop here is our confidence heading into the quarterfinals where any team can be knocked out regardless of the record and the placing.” Despite the lackluster performance in the first set, the Lady Realtors actually gained steam in the second set, giving the Cargo Movers a scare with a 13-12 lead before being caught by a suffocating 12-1 closeout. Although Sta. Lucia also managed to go neck-and-neck in the third set as it inched closer to within a point, 20-21, F2 Logistics proved to be just too much to handle as Mau and Galang unleashed a strong finishing kick en route to the impressive win. No player scored in double figures for the Lady Realtors, who absorbed their fifth straight setback to slide to the bottom of the standings with a 1-5 win-loss card. Rachel Austero and MJ Philips paced the attack with five markers apiece.

BanKo-Perlas, PacificTown Army try to stay alive in PVL semifinals

ESPITE dropping a pair of 1-3 defeats to their fancied rivals in the opener of their respective Final Four duels in the Premier Volleyball League Reinforced Conference, BanKo-Perlas and PacificTown Army remain hopeful of forcing a pair of sudden deaths when Game Two is played on Saturday at the Ynares Sports Center in Antipolo. By taking a set against powerhouse Petro Gazz and the Creamline, BanKo-Perlas and PacificTown Army showed that the top seeded teams can be stopped and toppled after all provided that they sustain their firepower and, more important, show poise and minimize their errors. The Lady Troopers learned that the hard way when they blew a number of chances to steal the first two sets with miscues down the stretch. In contrast, the defending champion Cool Smashers displayed championship poise all throughout to dodge the upset ax and keep their win run going coming off a nine-game streak in the double-round elims with a 26-24, 25-21, 23-25, 2520 victory in Game One of their best-of-three series. PacificTown fell short by just seven hits in its spiking battle with Creamline and even led in blocks, 7-6, and dominated the service area, 9-5. But Creamline scored 30 points off PacificTown

Army’s errors although the Lady Troopers also pounced on their rivals’ miscues to score 23 points. In the non-scoring skills, PacificTown held its ground, yielding just five in digging (49-54), two in excellent sets (20-22) and four in reception (39-43), only the Cool Smashers were able to parlay the Lady Troopers’ miscues in the first two frames. In contrast, BanKo-Perlas scored 24 points off Petro Gazz’s errors while giving up just 17 points off their own slips but the Angels imposed their will on the net, producing 64 spikes for a glaring 21-hit lead over the Perlas Spikers, who could only come up with 43, on their way to a 25-19, 25-15, 21-25, 25-12 romp in their own Final Four face-off. The top-seeded squad, likewise, lorded it over in blocks, scoring seven, four more than their rivals and capitalized on the Perlas Spikers’ poor service reception, coming through with eight aces against BanKo’s forgettable one-ace effort that further underscored the Angels’ superb reception and floor coverage. But despite their edge in most departments, Creamline and Petro Gazz expect PacificTown Army and BanKo-Perlas to come out strong and with the necessary adjustments that could pave the way for a tighter, fiercer pair of clashes in Game Two that could also lead to a pair of sudden deaths.

DA MILBY and Stephen Fernandez—both active officers and former athletes in rugby and taekwondo, respectively—were named deputies to Team Philippines Chef de Mission William Ramirez for the 30th Southeast Asian Games. The two former national athletes joined the other deputies—Philippine Sports Commission (PSC) Commissioners Celia Kiram, Arnold Agustin, Charles Maxey and Ramon Fernandez. They will assist Ramirez in overseeing the Filipino athletes’ participation in the Games which will be played in Subic, Clark, Manila, Batangas, Cavite, La Union, Bulacan, Tagaytay and Calatagan. Ramirez said Stephen will be the chief deputy chef de mission. The deputies face a full calendar of constantly monitoring and coordinating all sports. “The PSC Commissioners are a logical choice [as deputies] because they have already started coordinating with NSAs [national sports associations],” Ramirez said. “They are also part of the board which will approve requests so it is good for them to know the situation on the ground for deeper understanding of our athletes’ needs.”

Blu Girls end up winless in US tilt

HE Blu Girls played relatively well in a double-header in Day 3 but failed to score a breakthrough win in the USA Softball International Cup on Wednesday at the South Commons Softball Complex in Columbus, Georgia. The Cebuana Lhuillier-backed Blu Girls bowed to local team Scrap Yard Fast Pitch, 1-3, and then lost to Mexico, 2-3, later in the day. “This is the kind of game we can take pride in that our girls went down fighting, and it’s apparent that they learned from the previous games as evidenced by the closeness of both matches,” said Jean Henri Lhuillier, president of the Amateur Softball Association of the Philippines, and president and CEO of Cebuana Lhuillier. Scrap Yard Fast Pitch took an early lead with a single in the first inning and never looked back. The Philippines tried to catch up but could only muster one run and six hits. The Blue Girls were error-free in the games. Riflayca Basa took the loss for the Philippines and lasted three innings, allowing six hits and three runs while striking out one. Against Mexico, the Blu Girls watched the game slip away early and could not recover even though pitching was strong on both sides with the Mexicans striking out 10 and Philippines one.

BENEDICTO-NORTE SHOWDOWN IN DAVAO

UGUST BENEDICTO and Banjo Norte brace for a showdown along with four other Filipino triathletes setting out for a battle royale for the Asian Elite crown in the first Penong’s 5150 Triathlon unfolding on Sunday at the Waterfront Hotel in Davao. Benedicto, a four-time champion in Ironman 70.3 Philippines, and Norte, a three-time winner, are tipped to dispute top honors worth P30,000 in the event held side-by-side with the centerpiece pro category over the Olympic distance of 1.5k swim-40k bike-10k run.

Out to spoil the duo’s title bid are Leonard Rondina, who, like Benedicto, is a finisher of the first full Ironman Philippines in Subic last year, and fellow veteran campaigners Raymond Torio, Juan Carlos Abad and Jorry Ycong. They will be among the hundreds of endurance racers vying in various age-group divisions and seeking to steal the spotlight from the pros in the event which drew participants from Japan, Kuwait, United Kingdom, Australia, Panama, New Zealand,

Spain, the United States, Korea, Singapore, Japan, Italy, France, Greece, Guam, South Africa and Czech Republic. Aussie Mitch Robins, Czech Jakub Langhammer and Kiwi Kieran McPherson headline the men’s pro cast, while Thailandbased Dimity-Lee Duke and Lisa Tyack of Australia and New Zealand’s Laura Wood will slug it out in the women’s side of the centerpiece event organized by Sunrise Events Inc. and put up by Davao’s favorite barbecue house Penong’s Barbecue and Seafoods Grill.

BAMBOL EYES

P.O.C. TOP POST POC in recent weeks. The IOC on Tuesday wrote the POC to hold the elections to finally settle the mess that divided the body five months before the country hosts the 23rd Southeast Asian Games. Although the country’s hosting of the Games stayed on course and the national athletes insulated from the leadership crisis, the POC row has damaged the image of the Olympic body which saw volleyball’s Jose Romasanta (first

vice president), canoe-kayak’s Jonne Go (board member) and wushu’s Julian Camacho (board member) verbally announcing their resignation during the POC general assembly last June 25 only to retract their decisions. “I reiterate my call to those three officials who verbally resigned and so far have not confirmed in writing. I reiterate my call for them to keep their word. We are Filipinos. Our countrymen are expecting us, sports leaders, to honor our words,” Tolentino said. IOC Director of Olympic Solidarity and National Olympic Committee Relations James Mcleod and Olympic Council of Asia (OCA) Director General Husain

Al-Musallam signed the letter which also called for the POC Executive Board to hold a special meeting. Tolentino called for an Executive Board meeting on Monday starting at 9 a.m. at the POC office in Pasig City, but Romasanta and company, through their Secretary-General Charlie Ho (net ball), scheduled their own meeting in the same venue but at 10 a.m. Tolentino will have as running mate taekwondo’s Robert Aventajado, who will seek another term as chairman of the POC. Aranas is believed to be the Romasanta group’s best bet for the presidency but Tolentino said the archery chief—who resigned as general manager of the GSIS on Tuesday—is not qualified to seek a sensitive post in the POC. Aranas, Tolentino said, lacks the minimum full four-year term as a national federation president prior to the elections and has been a perennial absentee in general assembly and Executive Board meetings of the POC. Tolentino’s possible rivals are Go, former President Jose Cojuangco and athletics’ Philip Ella Juico. There are 45 voting members of the POC—42 regular members and two from the athletes’ commission and IOC Representative to the Philippines Mikee Cojuangco. Six NSAs, however, could not vote on technical issues. REP. ABRAHAM “BAMBOL” TOLENTINO wants to clean the mess once and for all. NONIE REYES

Sports

PROGRESS for the Dutch has been rapid after reaching the round of 16 during their World Cup debut four years ago. AP

BusinessMirror

| Friday, July 5, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

DUTCH MAKE FIRST WORLD CUP FINAL L

By Rob Harris The Associated Press

YON, France—When Jackie Groenen received the ball, even though she was outside the penalty area, the Dutch midfielder knew she had to seize her opening. It was 99 minutes into a grueling Women’s World Cup semifinal, and neither the Netherlands nor Sweden was finding a clear path to the goal on Wednesday night. “I saw a nice angle,” Groenen said. “We’ve been discussing this for a couple of weeks now that I need to take shots more often. The ball just came really nicely, and I thought, ‘Let’s do this.’” A slick passing sequence ended with Groenen driving a shot past goalkeeper Hedvig Lindahl. A first shot on target in France produced her first goal of the tournament.

“I’m not much of a scorer,” she said. “But I’m very happy today I got to score.” It sent the Netherlands into its first Women’s World Cup final, where the Dutch will face the United States on Sunday, back in the Stade de Lyon. Two years after the Dutch won their first major trophy—the European Championship—Groenen is already dreaming of a first world title in only their second attempt. “It kind of went through my mind as soon as I got off the pitch,” she said. “The Americans are massive, they have massive players. They are the biggest team in the world but I can’t wait to play.” Progress for the Dutch has been rapid after reaching the round of 16 during their World Cup debut four years ago. “The potential for the Netherlands has been there for a long time,” Netherlands Coach Sarina Wiegman said. “Since 2007, when the Eredivisie started and players

‘Don’t cry for me, Argentina’

ORTO ALEGRE, Brazil—Argentina remains optimistic about its future despite another year without a title. There is some hope going forward after the team’s 2-0 loss to Brazil in the semifinals of the Copa América on Tuesday, a result that extended the team’s 26-year run without a trophy. “There are some good and important players coming up who have shown that they love the national team and want to be here,” said veteran Lionel Messi, who turned 32 during the South American competition. “There’s a future, we have a lot of young players who need to be given time to succeed. We have to respect them.” Messi, whose only title with Argentina was with the under-23 squad in the 2008 Olympics, said the national team can still count on him. “If I have to help somehow, I’ll do it,” he said. “I felt comfortable with this group of players.” It was a much different reaction than Messi had after the team’s loss in the 2016 Copa América final, when he said he was done with the national team. The Barcelona playmaker had already lost the 2015 Copa América final and the 2014 World Cup final with Argentina. Messi, Sergio Agüero and Ángel Di María were the only players from this squad who played in the 1-0 loss to Germany in the 2014 World Cup final. The current team was filled with younger players and was led by inexperienced coach Lionel Scaloni, who took over as an interim solution for a national team that arrived in Brazil carrying few expectations. Among the younger players who did well in the Copa América were Juan Foyth, Rodrigo de Paul and Lautaro Martínez. Although the team gradually improved under Scaloni, the coach was not expected to remain at the helm entering World Cup qualifying and next year’s Copa América, which Argentina will cohost with Colombia. “I don’t think it’s time to talk about that, it’s not what I’m worried about right now,” said the 41-year-old Scaloni, a former

got better facilities and could train more, the players developed so much that they improved. And then when you’re at big tournaments, like European Championships and World Cups, they develop even more. They made transfers to big clubs in Europe.” Players like Groenen, who became the first overseas signing for Manchester United after the recently formed women’s team was promoted to England’s Super League in May. Before she pulls on a red jersey, Groenen could become a world champion in orange by beating the defending champions. “We are very down-to-earth but they have their own qualities and we have ours,” she said. The finalists have something in common: female coaches. With Jill Ellis coaching the US and Wiegman in charge of the Netherlands, the run of three finals featuring a male coach comes to an end. “It’s important that women have the opportunity to

develop as players, as coaches and in society,”Wiegman said. After a draining game in sweltering central France, the Dutch have one less day than the Americans to prepare for the title game and they will have to be more potent up front to overcome the athletic three-time champions. The second semifinal was no match for the drama, tension and high energy of the previous night when the US beat England, 2-1. The game featured few scoring chances and was only lit up by the goalkeeping in regulation time— particularly in the second half. A shot from Nilla Fischer was creeping into the net in the 56th minute until Netherlands goalkeeper Sari van Veenendaal tipped it onto the post. It was the crossbar that denied the Dutch in the 64th minute when a header from Vivianne Miedema was pushed onto the frame by Lindahl’s fingertips. “I felt like we had a golden opportunity to take this

team to the final, and we didn’t take it,” Lindahl said. “Very disappointed.” The goalkeepers wouldn’t be relied on for a penalty shootout thanks to Groenen’s moment of brilliance, leaving the Swedes having to settle for bronze if they can beat England on Saturday in Nice. “It was a really tight game tonight. It was really tough,” Netherlands forward Lieke Martens said. “I thought we had really good character. We really played until the last minute. We worked 200 percent. The effort was so big today. I’m really proud of the girls.” The priority for Martens now is recovering from an ongoing foot injury that forced her off at halftime. “If I’m not 100 percent fit then I want another girl to come in and give 100 percent,” she said. “That’s the most important thing. It’s easy. As a player, you always want to play the biggest game of your career and this is one of the biggest ones I hopefully am going to play. I’m going to do the recovery. I really believe in the medical staff.”

PERU STUNS CHILE IN COPA AMÉRICA P

ORTO ALEGRE, Brazil—After being counted out by most, Peru pulled off a stunning Copa América comeback. Two weeks after a demoralizing 5-0 loss to Brazil that left the team on the verge of a first-round elimination, Peru got past two-time defending champion Chile 3-0 on Wednesday to make it to the continental final for the first time since 1975. Peru had already stunned title-favorite Uruguay in the quarterfinals after advancing as one of the two best third-place finishers from the three groups, and now it will get a rematch against host Brazil in Sunday’s final at the Maracanã Stadium. “We are a team that knows how to overcome adversities,” Peru Coach Ricardo Gareca said. “That’s something very unique to our team. That loss [against Brazil] would hurt any team, but we were able to recover from it. We deserve a lot of credit for that.” Chile was trying to become the first team to win three straight Copa América titles since Argentina in the 1940s, but now will play the third-place match against the Argentines on Saturday in a repeat of the last two finals. “We entered the match already thinking about the final and that’s how we allowed Peru to surprise us,” Chile Coach

Reinaldo Rueda said. “We didn’t show the attitude and aggressiveness from the previous matches.” Chile’s loss to longtime rival Peru will add pressure on Rueda, a Colombian who had been criticized since he took over the squad at the beginning of last year. The result will also raise further questions about its so-called golden generation, which failed to qualify for the 2018 World Cup in Russia. The veterans of Chile’s recent triumphs, including Eduardo Vargas, Arturo Vidal and Alexis Sánchez, had subpar performances at the Arena Grêmio in Porto Alegre. Despite a team without the same quality as Chile, it was Peru that got off to a good start and dominated the match early on. “When this team wants something, it works hard and gets it,” Peru striker Paolo Guerrero said. “We deserved to make it to the final. We were fully focused from the start.” Edinson Flores opened the scoring with a shot from inside the area in the 21st minute and Yoshimar Yotún added to the lead in the 38th with a strike into the open net after Chile goalkeeper Gabriel Arias left the area to try to stop a counterattack. Guerrero sealed the victory in a breakaway in stoppage time to become the Copa América’s all-time leading scorer

among active players with 13 goals. Chile’s Eduardo Vargas could have matched Guerrero when his team was awarded a penalty kick in the final seconds, but he had his weak shot from the spot saved by Peru goalkeeper Pedro Gallese. Gallese had a great performance to stop Chile’s attack, which faltered during most of the match despite creating most of the scoring chances. The Peruvian goalkeeper made an embarrassing mistake in the rout against Brazil, but had already saved penalty kicks by Uruguay’s Luis Suárez and Brazil’s Gabriel Jesus. Peru, which last year made its first World Cup appearance in 36 years, was playing in the semifinals for the third time in the last four Copa Américas. It had lost seven of its last eight competitive matches against Chile, including in the semifinals of the Copa América in 2015. The rivalry between Chile and Peru dates to the 19th century. The nations fought in the War of the Pacific from 1879-1984, with Chile coming out victorious against a PeruBolivia alliance and taking over some key land with access to the Pacific Ocean. AP

LIONEL MESSI and Argentina contemplate their future after another elimination. AP

player. “I’m concerned about my players after this defeat.” Scaloni is the eighth Argentina coach since José Pékerman left after the team’s elimination in the quarterfinals of the 2006 World Cup, a sign of the instability engulfing the South American powerhouse in recent years. The Argentine soccer federation, in constant turmoil, has had trouble persuading the nation’s renowned coaches to take over the squad, including Marcelo Gallardo of River Plate, Diego Simeone of Atlético Madrid and Mauricio Pochettino of Tottenham. Other more likely candidates to become the next coach include Gabriel Heinze of Vélez Sarsfiel, Gabriel Milito of Estudiantes and Hernán Crespo of Banfield, former national team players who have achieved good results locally in their early coaching careers. AP

PERU gets past two-time defending champion Chile on Wednesday to make it to the continental final for the first time since 1975. AP

God of salvation

EAR God, You reconcile all of creation to Yourself in Christ Jesus. In confidence we pray: Hear us, oh God. Inspire all people to love You and to live by Your justice. Lift the spirits of those who are depressed, despondent or desperate for love. Restore health to the sick and renew the spirit of their caregivers. May God bless us and strengthen us to protect life and beauty, by the power of the Holy Spirit, through Christ our saving hope. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life

‘GOLDEN GIRLS’ APPEARS TO GET BETTER WITH POP-CULTURE AGE D4

BusinessMirror

Friday, July 5, 2019

50 years a�ter Stonewall, LGBTQ news coverage still evolving Two 2017 entries in the AP Stylebook, considered the authoritative reference for journalists on the use of language, illustrate how far things have come since the “queen bees” days 50 years ago. The AP endorses the use of “they, them or theirs” as singular pronouns (replacing he or she) if the story subject requests it. PHOTOS BY THE ASSOCIATED PRESS

By daVId Bauder The Associated Press

EW YORK—During the series of riots that followed a police raid of the Stonewall Inn on June 28, 1969, the New York Daily News headlined a story that quickly became infamous: “Homo Nest Raided, Queen Bees are Stinging Mad.” Some of the coverage of rioting outside the gay bar—unimaginable today in mainstream publications for its mocking tone—was itself a source of the fury that led Stonewall to become a synonym for the fight for gay rights. Fifty years later, media treatment of the LGBTQ community has changed and is still changing. “The progress has been extraordinary, with the caveat that we still have a lot to do,” said Cathy Renna, a former executive for the media watchdog GLAAD, who runs her own media consulting firm. Before Stonewall, mainstream media coverage of gays was generally nonexistent or consisted of negative, police blotter items. When a small group demonstrated against government treatment outside the White House in 1965, a newspaper headline said, “Protesters Call Government Unfair to Deviants,” noted Josh Howard, whose film The Lavender Scare, about an Eisenhower-era campaign against gays and lesbians in government, aired on PBS recently. A 1966 Time magazine article called homosexuality “a pathetic little second-rate substitute for reality, a pitiable flight from life. As such it deserves fairness, compassion, understanding and, when possible, treatment. But it deserves no encouragement, no glamorization, no rationalization, no fake status as minority martyrdom, no sophistry about simple differences in taste and above all, no pretense that it is anything but a pernicious sickness.” This is the sort of thing that Howard, who was 14 at

the time of Stonewall, read about people like himself when he was young. “It’s a hard way to grow up,” said the longtime CBS News producer. “I sort of realized that it was safe for me to be in the closet.” Stonewall got some straightforward coverage at the time, although stories in The New York Times and the New York Post were buried well inside the newspapers. An Associated Press story on June 30, 1969, said “police cleared the streets in the Sheridan Square area of Greenwich Village early Sunday as crowds of young men complained of police harassment of homosexuals.” New York television stations ignored it, so the visual record amounts to a handful of still pictures. The New York Daily News story was filled with slurs, and it began: “She sat there with her legs crossed, the lashes of her mascara-coated eyes beating like the wings of a hummingbird. She was angry. She was so upset she hadn’t bothered to shave.” At the time, many demonstrators were more upset with riot coverage by the now-defunct alternative newsweekly The Village Voice, said Edward Alwood, author of Straight News: Gays, Lesbians and the News Media. One Village Voice writer holed up with police inside Stonewall and said he wished he was armed. “The sound filtering in doesn’t suggest dancing faggots anymore,” Howard Smith wrote. “It sounds like a powerful rage bent on vendetta.” Another Village Voice writer, Lucian Truscott IV, repeatedly referred to “faggot” and “faggotry” and said of the rioters at one point, “limp wrists were forgotten.” “That event has generally been seen through political lenses,” Alwood said. “It was also a wake-up call for the media.” The immediate impact was growth and a heightened profile for news outlets specifically oriented to gays and lesbians, said Eric Marcus, author

of the book Making Gay History and host of a podcast of the same name. Marcus wrote in a recent essay about how Time magazine’s 1966 story “just about burned the skin off my face as I read it.” Time didn’t cover Stonewall, but in October 1969, published a cover story about the emerging civilrights movement. While more straightforward in its reporting than the essay three years earlier, the story “was still dripping with sarcasm and contempt,” he said. Time published Marcus’s piece as part of its Stonewall anniversary coverage, although it didn’t apologize for its past work. While outright hate within the mainstream media subsided through the years, discomfort and stereotyping persisted. The go-to gay image for most publications was a silhouette of two men holding hands. Coverage of gays in the military, for example, focused on “showers and submarines,” Renna said, or the unease of straight males in the presence of gays. Lesbians were barely mentioned, a sign of little awareness of diversity. Through her work at GLAAD, Renna saw how Ellen DeGeneres’s revelation that she was a lesbian, both the ABC sitcom character she played at the time and the comedian in real life, was pivotal to promoting understanding. Renna has urged journalists to pay attention to their language. Being gay is not a lifestyle, she notes. “Having a dog is a lifestyle.” She also urges the use of “sexual orientation” as opposed to “sexual preference,” a recognition that being gay isn’t a choice. “The vast majority of journalists are not homophobic,” she said. “They’re homo-ignorant.” Renna, who wears her hair short and favors tailored suits, is used to being mistaken for a man. Until about a decade ago, people she would correct generally shrugged. As a sign of changing attitudes, “now people fall over themselves to apologize once

they realize I’m a girl,” she said. A handbook of terminology for news organizations that is put out by LGBTQ journalists has helped increase awareness. There are still missteps. The AP decreed in 2013 that its journalists would not use the word “husband” or “wife” in reference to a legally married gay or lesbian couple. After a protest, the AP reversed its call a week later. Two 2017 entries in the AP Stylebook, considered the authoritative reference for journalists on the use of language, illustrate how far things have come since the “queen bees” days 50 years ago. The AP endorses the use of “they, them or theirs” as singular pronouns (replacing he or she) if the story subject requests it, although the AP urges care in writing to avoid confusion. The stylebook also reminds readers that not all people fit under one of two categories for gender, “so avoid references to both, either or opposite sexes.” Gender identification remains an object of confusion for many journalists. Activists also urge news organizations to be aware of people who are emboldened to lash out at the LGBTQ community by the divided politics of the past few years. For this year’s Stonewall anniversary, Marcus, of Making Gay History, worked with news organizations doing stories about the event. One publication he found particularly interested and responsible in marking the occasion was the New York Daily News. The paper on June 7 wrote an editorial recognizing its unseemly moment in history. “We here at the New York Daily News played an unhelpful role in helping create a climate that treated the victims as the punchline of jokes, not as dignified individuals with legitimate complaints about mistreatment,” the newspaper wrote. “For that, we apologize.” It was the newspaper’s second apology for its 1969 story in four years. n

Society BusinessMirror

Friday, July 5, 2019

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Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Megan Rapinoe, 33; Dave Haywood, 36; Edie Falco, 55; Huey Lewis, 68. HAPPY BIRTHDAY: Keep your emotions in check this year when dealing with personal or professional partnerships. You’ll need a clear head to sort out your differences with someone who has a strong personality as you. An open approach to whatever you face this year will help resolve pending issues. Know your boundaries; be willing to compromise. Your lucky numbers are 8, 19, 24, 26, 31, 38, 42.

ARIES (March 21-April 19): Take a critical look at your physical and emotional state, and prepare to make some positive changes. Research the possibilities and stick to the budget you set and you will be happy with the results you get. Romance will promote happiness. HHH

RISSA MANANQUIL TRILLO (center) with the book and Summit Books team: Christine Ko, Trish Terrado, Pearl de Leon, Larissa Joson, June Sandoval and Mica de Leon.

TAURUS (April 20-May 20): Erratic behavior will be difficult to control. Your actions will cause bigger problems than you expect. Stop and think before you do something you’ll regret. Patience is required, and time is on your side. Slow down and contemplate your next move. HHH

ISSA LITTON and Philip Cu-Unjieng

GEMINI (May 21-June 20): Own whatever you do. Wrap your head around the different scenarios you face and the probable outcomes that depend on how you react or the decisions you make. Gains can be made, and extravagance will be tempting. Look before you leap. HHHH

CANCER (June 21-July 22): Get out and gain experience. Listen more and talk less. The information you are offered will help to shape the way you move forward regarding a situation that has caused confusion and concern. HH

LEO (July 23-Aug. 22): Don’t leave anything to chance. A good plan needs to be initiated with precision and detail. If you are unprepared, you can expect to lose out to someone who has done his or her homework and is ready to compete with confidence. HHHHH

HAYDEN KHO

STEVEN TAN

ANNE ARCENAS-GONZALEZ

VIRGO (Aug. 23-Sept. 22): Don’t lose sight of what you are trying to accomplish. Your ability to bring about change that will make a difference is essential to those counting on you. Don’t sit back when you should be taking over and making things happen. HHH

VLOGGER Say Tioco

Untold truths about business and beauty no longer untold A T the peak of her modeling career, Rissa Mananquil Trillo already had everything going for her: She was a leading figure in the modeling world, a respected beauty columnist for a major newspaper, and a happily married wife and mom of three. But this multihyphenate still went ahead and built a beauty brand from scratch, not to mention pursued an Executive MBA degree while at it—proof that even with setbacks, as long as you have the drive, there’s no limit to how far you can go. Now, Rissa is sharing what she’s learned in her journey to becoming the award-winning cofounder of local beauty brand Happy Skin in her first book published by Summit Books. Read My Lips: What It Takes to Build a World-Class Homegrown Brand, the recent launch of which gathered not a few prominent names and famous faces, is part-memoir and part-business guide: By rooting the conversation in her own experiences—from her

failures to her successes, from her lowest moments to her brightest triumphs—Rissa inspires not just readers ready to rise to a new career challenge of entrepreneurship, but also anyone who wants to learn about beauty, business and life. The book also features interviews with the biggest leaders in business: Nanay Coring Ramos, Teresita Sy-Coson, Manny V. Pangilinan, Fernando Zobel de Ayala, Nedy Tantoco, Ben Chan, Anton Huang, Mariana Zobel de Ayala, Lance Gokongwei, Robina Gokongwei-Pe, Kevin Tan, Joey Concepcion, Rikki Dee, Donnie Tantoco, Vicki Belo, Paulo Campos, Margarita Forés, Anne Arcenas-Gonzalez, Amina Aranaz and Krie Reyes-Lopez. Also offered are insights on life and inner beauty from Lucy TorresGomez, Heart Evangelista-Escudero, KC Concepcion, Kathryn Bernardo, Bianca Gonzalez-Intal, Liz Uy, Karen Davila, Myrza Sison, Apples Aberin, Tweetie de Leon-Gonzalez, Aivee Teo, Say Tioco, Tricia Gosingtian and Hannah Pangilinan. n

LIBRA (Sept. 23-Oct. 22): Size up whatever situation you face and take action. Let your intuition and your emotions lead the way. Now is not the time to procrastinate or let someone put demands on you. Speak up. HHH

SCORPIO (Oct. 23-Nov. 21): Don’t get angry; get moving. Don’t worry about taking a different path from those around you. Being true to yourself and what you want to achieve will give you a strong sense of fulfillment and satisfaction. Don’t cave under pressure. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Look for love, happiness and a lifestyle that brings you greater joy. Rely on yourself; you alone will bring about the change you desire. Improve your home, and alter your current situation if it is causing stress. HHHHH

CAPRICORN (Dec. 22-Jan. 19): Don’t let bad behavior cause you to miss out on the finer things in life or the joy that love, family, travel and learning can bring you. Change things up if you feel as if you are missing something. HH

AQUARIUS (Jan. 20-Feb. 18): Look back, size up your situation and proceed to move forward with caution. Taking on too much will lead to disappointment. Listen to creative ideas, but don’t fall for unrealistic offers that could potentially put you in debt. HHHH

PISCES (Feb. 19-March 20): Don’t feel you need someone else’s involvement in order to advance. Believe in your capabilities and put your strengths to work for you. Joint ventures will be costly and disappointing. HHH ASIAN Institute of Management (AIM) President, CEO, and Dean Dr. Jikyeong Kang and Rissa Mananquil Trillo

BIRTHDAY BABY: You are innovative, ambitious and outgoing. You are energetic and demanding.

‘drop a line’ BY ROSS TRUDEAU The Universal Crossword/Edited by David Steinberg

ACROSS 1 It might come after turkey 4 Cousin of Inc. 7 Greek X 10 Cat’s warning 13 Gun-seizing org. 14 Tend to, as one’s business 16 School support grp. 17 Breakfast dish cooked with a timer (look down at the 8th square!) 19 Desire 20 Winter traction aid 21 Moved like Bugs 23 Rochester’s love of fiction 24 Finales 26 ___ Wafers 27 Tinder meetups 29 Actress Ward 31 Mystery writer John Dickson ___ 32 Court figs. 34 Entwined romantic symbol 36 Alexandria’s region (look down at the 3rd square!) 39 Property owner’s document (look down at the 4th square!)

40 Comment to one who almost drops something valuable 42 Dr. of rap 43 Fired 44 Box-office flop 46 Alters a Wikipedia page, say 50 Dragged to the repo lot 52 ___ E. Coyote 54 Give off 55 Let out, as a line 57 One spreading garbage 59 Stephen of V for Vendetta 60 Not emphasize an article’s main point, or a hint to this puzzle’s theme 62 Dadaist Jean 63 Makes a mess of 64 “I’m on board,” on board 65 Part of UNLV 66 Big ___ Country (Montana) 67 Triage locales, for short 68 Call at a net DOWN 1 Got a C, say 2 2017 film about a figure skater 3 What weightlifting takes

4 Pride initials 5 Sarge’s superior 6 Scottish terriers 7 ___ in the machine 8 Jackman in Hollywood 9 “Challenge accepted!” 10 Aircraft with powerful cameras 11 Hard construction cylinder 12 Grainy pictures? 15 Alexis of The Handmaid’s Tale 18 Half of a Wonderland duo 22 Dish featuring a long fish 25 ___ machine 28 “Do the Right Thing” pizzeria 30 Gung ho 33 Total guess 35 Raison d’___ 36 1969-1974, politically 37 Pitchers’ cold treatments 38 Affirm 40 Unaffected 41 Blunt and Bronte 45 Carefree 47 2001 Jennifer Lopez hit 48 Hippie shirt style

9 Road 4 51 Gamblers’ woes 53 Early anesthetic 56 Read a blog without commenting 58 Thomas Hardy heroine 61 Bit of sunshine

Solution to yesterday’s puzzle:

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Relationships BusinessMirror

Friday, July 5, 2019

Men do see the mess—they just aren’t judged for it the way women are By Sarah Thebaud University of California, Santa Barbara

LG Philippines Managing Director Inkwun Heo together with volunteers collaborate to build the vertical garden wall inside San Joaquin Kalawaan High School grounds.

N a typical day, men spend a third as much time cleaning as women. Does that make women beacons of cleanliness, while men are genetically unable to see the messiness in their midst? This myth is a common explanation for why men don’t do as much housework as women. Men walk into a room and apparently can’t see the dust bunnies gathering on the floor or the piles of laundry stacked up on the couch. It lets men off the hook for not doing their fair share of the household cleaning. But in a recent study, we show that men aren’t dirtblind—they can see mess just as well as women. They are simply less severely penalized for not keeping their spaces neat and tidy. CHORE INEQUALITY DESPITE massive gains in education and employment, women still shoulder a larger share of the housework than men. Women today spend, on average, roughly an hour and 20 minutes per day cooking, cleaning and doing laundry. About a third of that is just spent cleaning. Men, on the other hand, spend about half an hour performing these duties—and only 10 minutes scrubbing and tidying. This household chore inequality is evident over time, across professions and even when women work longer hours and make more money. Even in Sweden, where government policies are strongly geared toward promoting gender equality, women do more housework. Swedish women do two times as much daily housework than men even though women are much more likely to work fulltime than in other countries. Naturally, the more time spent on chores, the less a woman has to spend on other activities like sleep, work and leisure. THE SAME MESS IN our study, which was recently published in Sociological Methods and Research, we asked 327 men and 295 women of various ages and backgrounds to assess a photo of a small living room and kitchen area. By random assignment, some participants rated a photo of the room looking cluttered—dirty dishes on the counter, clothing strewn about—while others examined a much tidier version of the same room. All participants looked at the one photo they were given and then rated how messy they thought it was and how urgently it needed cleaning. The first thing we wanted to know was whether men and women respondents rated the rooms differently. Contrary to popular lore, men and women saw the same mess: They rated the clean room as equally clean and the messy room as equally messy. DIFFERING EXPECTATIONS SO if “dirt blindness” isn’t to blame, why do women do more housework? One argument is that social expectations are different for men and women. Women may be judged more harshly for having a less-than-spotless home, and women’s awareness of these expectations may motivate them to do more.

PHILAM Life Brand Ambassadors Solenn Heussaff, Mond Gutierrez, Nico Bolzico and Wil Dasovich

LG NURTURES TIES WITH THE COMMUNITY

We tested this idea by randomly telling participants that the photo they were looking at depicted either “John’s” or “Jennifer’s” living space. Then we asked them to rate Jennifer’s or John’s character—how responsible, hardworking, neglectful, considerate and likable they were—based on the cleanliness of their home. We also asked participants to assess the extent to which she or he might be judged negatively by unexpected visitors—extended family, bosses and friends—and how much responsibility they believed Jennifer or John would bear for housework if they were working full-time and living alone, working full-time and married with children, or a married, stay-at-home parent. This is where things got interesting. Participants rated the photos differently depending on whether they were told that a woman or a man lived there. Notably, respondents held higher standards of cleanliness for Jennifer than they did for John. When they were told the tidy room belonged to Jennifer, participants—regardless of gender—judged it less clean and more likely to inspire disapproving reactions from guests than when the same exact room was John’s. WE’VE ALL HEARD ‘MEN ARE LAZY’ STILL, we did find that both men and women pay a large penalty for having a cluttered home. Compared to their tidier counterparts, both Jennifer and John received substantially more negative character ratings and were expected to garner much more negative judgments from visitors.

THE brand ambassadors kicking off the race

Interestingly, John’s character was rated more negatively than Jennifer’s for having a messy home, reflecting the common stereotype that men are lazy. Yet, participants did not believe John would be any more likely than Jennifer to suffer negative judgment from visitors, which suggests that the “men are lazy” stereotype does not disadvantage them in a socially meaningful way. Finally, people were more likely to believe that Jennifer would bear primary responsibility for cleaning, and this difference was especially large in the hypothetical scenario in which she or he is a fulltime working parent living with a spouse. That people attribute greater responsibility for housework to women than men, even regardless of their employment situation, suggests that women get penalized more often for clutter than men do. JUDGE NOT PEOPLE hold women to higher standards of cleanliness than men, and hold them more responsible for it. Some women may internalize or embrace such standards. But for many, it is unlikely a love of cleaning but rather a fear of how mess will be perceived that is the real problem—and one possible reason many women frantically clean their home before unexpected visitors arrive. The good news is that, with enough collective willpower, old-fashioned social expectations can be changed. We could start by thinking twice before judging the state of someone’s home, especially our own. n

OVER the years, companies engaging in corporate social responsibility (CSR) initiatives have become the norm, expected even, in doing business. It’s a trend that is happening across the globe. Consumers also have become more discerning with regard to a company’s advocacies and how it resonates with them. LG Philippines has been at the forefront of community engagement. The company has throughout the years made a firm and unwavering commitment to social responsibility. From providing assistance and support to the valiant soldiers from Marawi, to furthering culture and education at the National Museum, the brand has been a staunch advocate in making a difference. Just recently, LG Philippines together with the Community Environment and Natural Resources Office partnered with a public school within the vicinity of its main office. San Joaquin Kalawaan High School in Pasig served as the staging point for the company’s latest outreach program. In celebration of World Environment Day, LG donated three units of its green dual inverter air-conditioners, which has a 70 percent energy saving feature, as well as an air purifier. LG also had volunteers from the school, the company and the community build a Green Living Wall through a collaborative effort inside the school. One of LG’s global advocacies right now is the goal of becoming carbon neutral by 2030. Dubbed as the Zero Carbon 2030 initiative, LG commits as a whole to achieve net-zero carbon emissions from its global operations within 12 years. While the Green Living Wall project might seem like a drop in the bucket toward this goal, it shows LG Philippines’s commitment and alignment to a global objective. More important, it engages the community at the same time. Inkwun Heo says, LG Philippines managing director: “The most important thing about programs such as these is the authenticity behind it, no matter how small they may seem at the start. By playing an active role in the community and its betterment, as well as doing more than what’s required, LG is able to plant seeds that lead to better awareness, a better environment, and perhaps, even a better future.”

THE sea of red (estimated at 4,000) as the runners cool down after the race.

Philam Life celebrates AIA centennial year with star-studded run BORED with the same old race? In celebration of the 100th anniversary of AIA, its Hong Kong-based parent company, the country’s premier life-insurance brand Philam Life (www. philamlife.com) breathed new life into the same old run event with The 100 Run, a fun obstacle race held at SM Mall of Asia Concert Grounds on June 30. The run was peppered with stations built to challenge every muscle in the body, a happy blend of cardio and strength training, combined to provide participants with an unforgettable race-day experience. The 100 Run was a 5-km course which had 10 stations composed of rows of hurdles, 10 meter-long challenges and various types of obstacles, amounting to a hundred worth of fun-run excitement. Participants went through limbo racks, ran through a tunnel, wiggled their way out of a spider maze, jumped on

tires and went down an inflatable slide to get to the finish line. Making The 100 Run more exciting, Philam Life Brand Ambassadors Mond Gutierrez, Solenn Heussaff, Nico Bolzico and Wil Dasovich were called in to form their own Runbassador Teams of 25 members each, challenging their members to run faster than the other teams to earn more points. With Team Mond coming out on top, it was an exhilarating run for the team members, with each one bringing home a Garmin Vivofit 4 watch. Various prizes were also raffled off, such as a trip for two to Bali, numerous Rudy Project and ITAnano watches and Garmin fitness devices. “Today’s run is a twin celebration of AIA’s centennial year and Philam Life’s 72nd year; our opportunity to give thanks to the many people who have contributed to our continued growth and success throughout our long journey together,”

said Philam Life Chief Executive Officer Kelvin Ang. “As we position AIA, through Philam Life, for our continued journey of growth and success ahead, our promise of healthier, longer, better lives could not be more relevant. By delivering on this purpose, we will make a real and positive impact on people’s lives and build a better future for our communities throughout the Philippines,” he added. The 100 Run was not only a chance to hold a fun fitness activity but also served as an opportunity to give back to the community, with a portion of the proceeds from the ticket sales donated to Philam Paaralan, Philam Foundation’s education-oriented program which aims to empower the Filipino youth by building classrooms in remote areas around the country. The Philam Group was formed with the mission of empowering Filipinos to achieve financial security and

prosperity. Through its strong network, it is able to offer financial solutions such as life protection, health insurance, savings, education, retirement, investment, group and creditlife insurance, and fund-management products and services. After the establishment of Philam Life in 1947, the Philam Group has since expanded to include other affiliate companies, namely: BPI-Philam Life Assurance Co. (BPLAC), Philam Asset Management Inc., Philam Call Center and Philam Foundation. Based on the Insurance Commission results as of December 31, 2018, the combined total premium income of Philam Life and BPLAC is at P40.7 billion. Its strength and stability is solidified by its assets at P247.0 billion and net worth at P77.1 billion. It is a member of AIA Group Ltd., the largest independent publicly listed PanAsian life-insurance group.

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Friday, July 5, 2019

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‘Golden Girls’ appears to get better with pop-culture age

By Terry Tang The Associated Press

LEXANDRA WILKINSON was only two months old when The Golden Girls ended its television run in 1992. But she became a fan last year while taking a course called “Women and Aging: Lessons from the Golden Girls” at California State University, Long Beach. Now she streams episodes on Hulu. She owns a “Golden Girls” t-shirt. And when she graduated recently with a master’s degree in gerontology, she decorated her cap with a picture of “Golden Girl” Sophia along with the sardonic Sicilian’s trademark phrase, “Picture it.” “I was amazed on how this TV show from before I was born really related to so many topics I’m learning about right now,” said Wilkinson, 27. “It doesn’t even matter what they’re talking about, whether it’s a serious concept or not. Their personalities just have a way of bringing humor into everything.” The class, which finished its second year in May, is the latest example of the surprising pop-culture longevity of Dorothy, Blanche, Rose and Sophia. The Emmy-winning series revolved around four older women living together in Miami. It starred Bea Arthur, Rue McClanahan, Estelle Getty and Betty White, who is the only living cast member at age 97 (White, through her agent, declined an interview request). The show aired on NBC from 1985-1992. Just in the last few years, however, there’s been a wave of merchandising, from a trivia game to Chia pets. Funko, known for its pop dolls of sci-fi and fantasy characters, created Golden Girls figures, a limited-edition cereal and, most recently, PEZ dispensers. In 2015, a fan built an unofficial Lego set of the women in their home. Next February, a Golden Girls theme cruise will launch from—where else?—Miami. Marsha Posner Williams, a coproducer on the series’ first three seasons, said the creators simply set out to tell stories about an often-overlooked segment of the population. “This was a way of showing that even though you might be of a certain age, you’re not dead,” Williams said. “You’re full of life, full of laughter, full of sarcasm and it can be quite joyful.” Unlike the 1980s fashions worn in the show, the dialogue still holds up, Williams said, resonating with many people, from the gay community to millennials. “All the issues are so real that they talk about, even though it was 35 years ago,” she said. H. Alan Scott of Los Angeles has cohosted a Golden

FROM left: Estelle Getty, Rue McClanahan, Bea Arthur and Betty White are seen in this undated publicity image from the TV series The Golden Girls. From a college course to a cruise to cereal, the merchandise in recent years demonstrates that Dorothy, Blanche, Rose and Sophia still have plenty of pop-culture appeal. AP

Girls podcast for four years called “Out On the Lanai,” a reference to the patio where the women would often talk. He also stages drag shows as Sadie Pines, a riff on the fictitious Shady Pines retirement home where Sophia used to live. He calls the show, “timeless in a lot of ways because they weren’t necessarily topical in the jokes they did.” Maria Claver, a gerontology professor who created the CSU Long Beach class with colleague, Long Wang, in spring 2018, thinks nostalgia is one reason The Golden Girls endures. Many fans who watched when it originally aired are now in or facing their golden years. And the episodes have been helpful illustrations for her students. “I think one of the strengths of using a show like Golden Girls is that you can address sometimes uncomfortable or difficult topics with humor,” Claver said. “I think that makes students comfortable to talk about things like sexuality among older women.” The weekly class touched on subjects like menopause, addiction, sexuality, dementia and caregiving. Claver and Wang would screen a relevant

episode and then lead a discussion. There were guest speakers, including Williams. As a superfan, Claver also can’t help but delight in turning students on to the show’s entertainment value. “It is a thrill to introduce it to some of the younger students and by the end of the semester, they’re like ‘Omigosh, I’m totally a Dorothy,’” Claver said. Wilkinson, the recent grad, said she can laugh along even when she has no idea who a guest star like Burt Reynolds is. “Of course there are references I don’t quite understand. Like they’ll mention a musician or they’ll mention an actor I’ve never heard of,” Wilkinson said. “But for some reason, the way they deliver it is hilarious.” Williams loves that Golden Girls keeps finding a new audience. “We all do projects that we wish our names were not on,” she said. “But, if you’re lucky, you have one in your career that you’re so fricking proud to be associated with.” n

GMA exec joins 2019 Excellence in Multicultural Marketing Awards jury GMA Network First Vice President and Head of International Operations Joseph T. Francia is once again part of the roster of judges at the 2019 Excellence in Multicultural Marketing Awards (EMMA) by the New York-based National Association for Multiethnicity in Communications (NAMIC). The 2019 EMMA honors the industry’s best practices in developing and creating strategic and innovative multicultural marketing approaches in the media and entertainment field. For the second consecutive year, Francia will join a panel of industry experts from across the globe to choose the winners based on creativity and results in reaching multicultural audiences, which include African, American, Asian, Hispanic, LGBTQ,

JOSEPH T. FRANCIA, GMA Network first vice president and head of International Operations

disability communities and other market segments. As head of GMA International, Francia has been overseeing the business development, programming, marketing, operations and distribution of the network’s international channels—GMA Pinoy TV, GMA Life TV, and GMA News TV International. Today, these channels have an estimate of two million viewers spanning in over 100 countries and territories worldwide. Also, under Francia’s leadership, the network’s flagship international channel, GMA Pinoy TV, became the only Asian network inducted in NAMIC’s first-ever EMMA Wall of Distinction along with media companies that have proven their

commitment to excellence in multicultural marketing, and for consistently winning the most EMMAs since 2014. “On behalf of GMA International, I extend my appreciation to NAMIC for tapping me to become one of the judges again for the 2019 NAMIC EMMAs. We are also grateful to be once more included in this year’s EMMA Wall of Distinction together with some of the most well-known brands in the global media and entertainment industry. This is truly an honor for GMA Network and also for the country,” Francia expressed. GMA Pinoy TV joins ComcastNBCUniversal, HBO, International Media Distribution, and Maple Diversity Communications in the 2019 EMMA Wall of Distinction.

News through the eyes of overseas Filipinos FILIPINOS are literally all over the globe, often one of the nationalities classified by other countries as foreign workers. According to the data released by the Philippine Statistics Authority in April 2019, there are 2.3 million estimated overseas Filipinos from the period of April to September 2018. Although most of them leave the country primarily to provide for their loved ones back home, some of them change with time and are now careerdriven, seeing career growth as the main reason for working abroad. Overseas Filipinos may leave the country for various reasons, but one truth remains: they still face different issues and experience struggles that are often unheard and unknown to many, even to their closest kin. These stories and realities the overseas Filipinos

experience are what ABS-CBN and TFC hope to share to the world via TFC News, a digital news platform that focuses on the issues and stories that affect and involve the overseas Filipinos. One way of helping the Filipinos abroad to overcome different challenges is by empowering them with the right information, which ABS-CBN Global Chief Operating Officer Olivia de Jesus sees TFC News could provide. “It will give them a platform and a voice in the community. For our countrymen who have chosen to live and work for their families in a foreign land, it is important for them to adjust and feel that they belong, and having access to community news is one way for them to succeed in a foreign land,” de Jesus explained. ABS-CBN Integrated News and Current Affairs Head Ging Reyes also emphasized the importance of

providing overseas Filipinos a news platform where their voices could be heard. “It is important to give our overseas Filipinos a voice. It is important for news people to get to know them—the Filipino communities—and find out what makes them cry, what makes them react to certain events, what policies of their host countries affect them. In that sense, launching a news service that primarily caters to overseas Filipinos is not just important, it is essential, it must be part and parcel of our newsgathering operations here in ABS-CBN,” Reyes stated. Don’t miss the latest news around the Asia Pacific delivered through the eyes of the overseas Filipino correspondents in TFC News, which could be seen via TFC Online (www.TFC.tv), www.mytfc.com and www. facebook.com/TFCAsia.

K-pop star Park Yoo-chun given suspended sentence for drugs SEOUL, South Korea—Park Yoo-chun, a former member of the South Korean boy band JYJ, received a 10-month suspended sentence on Tuesday for illegal-drug use. Suwon District Court also ordered the 33-year-old star to undergo probation and treatment. “Drug-related crimes need to be harshly punished because of the significant addiction and harmful effects they have on individuals and society, and it seems that the suspect was doing drugs for a while,” Judge Kim Doo-hoong said in his ruling. But he said Park acknowledged his crime and was remorseful, and, because it was his first conviction, a suspended sentence should suffice as a punishment. Yonhap news agency said, Park was indicted in May on charges of purchasing and injecting 1.5 grams of methamphetamine with his former girlfriend. Park briefly teared up and apologized to his fans after leaving the court following the sentence. Media reports said, more than 50 South Korean and Japanese fans filled the small courtroom. AP

ALEXANDRA WILKINSON, seen wearing a “Golden Girls” t-shirt at her family’s home in Huntington Beach, California, was only two months old when the show ended its television run in 1992.

Motoring BusinessMirror

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

Editor: Tet Andolong

Friday, July 5, 2019

Unmistakably imposing and grand front end (Pearl White shade)

Equally imposing rear end (Black Obsidian shade)

Crawling through steep slopes effortlessly and in control

5.6-liter V8 muscle under the hood

Utterly luxurious and expansive cabin

Moto

Business

E2 Friday, July 5, 2019

AUTO ASIA INTROD

BRAND AND NEW SS Truck Month at Ford Philippines F

ORD Philippines is bringing back its much-anticipated Truck Month this July, offering great deals to customers buying a Ford Ranger from any Ford dealership nationwide. From July 1 to 31, 2019, customers can avail themselves of bigger cash discounts and all-in low down payment deals across all variants of the Ranger XLT and Wildtrak. All Ranger XLT variants are offered with a P70,000 cash discount or an all-in low down payment offer of P68,000. All-in packages for Ranger XLT variants include free three-year LTO registration, oneyear comprehensive insurance and chattel mortgage fees.

Meanwhile, all Ranger Wildtrak variants are offered with a P60,000 cash discount, or an all-in low down payment offer of P98,000 for the Wildtrak 4x2 AT and MT variants, or an all-in low down payment offer of P128,000 for the Wildtrak 4x4 AT variant. “The Ranger is a well-loved pickup truck in the Philippines and has always been one of our top-selling vehicles. This July, we want more customers to own our ‘Built Ford Tough’ truck with the best deals available across our Ranger lineup with the Ford Truck Month,” said PK Umashankar, managing director, Ford Philippines.

Aside from the great deals on Ford Ranger for the entire month of July, customers who will visit any Ford dealership from July 12 to 14, July 1 to 21, and July 26 to 28 can also enjoy free food and refreshments to celebrate Truck Month. Those who will test drive a Ford Ranger will also get an exclusive Ford merchandise, while customers who will partner with EastWest Bank for their financing requirements will get an additional P20,000 financing discount on top of the Truck Month deals. Visit www.ford.com.ph/shopping/hot-deals/2019/truckmonth or any Ford dealership to know more about the Ford Truck Month.

CHANGAN Honor S eight-seater MPV

German engineering near you this July

HIS July, motorists and car enthusiasts residing in Makati City and Pampanga province now have a better shot at leveling their drive up for the second half of 2019, as Volkswagen Philippines holds mall tours in these strategic locations. The mall tour kicks off on July 6 and 7 at the Palm Drive of the Glorietta Activity Center in Makati City then moves to the Main Atrium of SM City Pampanga in San Fernando City from July 20 to 26. The Volkswagen Santana MT and AT subcompact sedans, Tiguan SUV, and Lavida compact sedan will be displayed in Glorietta Activity Center, while the SM City Pampanga tour will exhibit the Santana MT and the Lavida. After a particularly hot and prolonged summer, visitors to the mall tours would certainly want to look cool and comfortable in these vehicles that have been designed, engineered and crafted with the worldrenowned German brand of automobile precision and time-tested heritage that is uniquely Volkswagen. The Santana can be considered your first best car, offering premium engineering, design, styling, safety, power and fuel efficiency to give the first-time brand-new car buyer the best possible motoring lifestyle experience in his or her very first Volkswagen. As the heritage of the iconic Polo has now been passed to the Santana, the Santana becomes the ideal subcompact sedan for young families and young professionals on their way to the top. The Santana MPI MT is powered by a 1.4-liter Multi-Point Injection (MPI) four-cylinder petrol engine mated to a five-speed manual transmission, with maximum power output of 90 Ps at 5,500 rpm and maximum torque of 132 N-m at 3,800 rpm. On the other hand, the Santana 180 MPI AT S offers more power with its 1.5-liter, four-cylinder, inline petrol engine with BlueMotion Technology mated to a six-speed automatic transmission generating

REXTON’S plush interior

CHANGAN Truck Star small trucks

N maximum power output of 110 Ps at 6,000 rpm and maximum torque of 150 N-m at 4,000 rpm. For ride comfort and stability, the Santana variants feature electronic power steering, front McPherson Independent Suspension and rear composite torsion beam semi-independent suspension. Safety highlights include standard Antilock Braking System (ABS), front dual airbags, immobilizer and Isofix anchorage points. The Santana 180 MPI AT S standard features are 15” alloy wheels and Electronic Stabilization Program (ESP). The Santana MPI MT price starts at P686,000, while the Santana 180 AT S starts at P898,000. The Lavida offers power and comfort in one functional sedan, and is ideal for corporate managers who value the safety and comfort of every member of their families, yet still seek that power and passion in their drive both behind the wheel and their office desks. Taking its cue from the best-selling Jetta, the Lavida also fulfills its place as that second car in the garage, ready to complement the roles of other Volkswagen vehicles as the need arises. The Lavida 230 TSI DSG SE is equipped with a 1.4-liter, four-cylinder Turbo Fuel-Injected petrol engine with BlueMotion Technology mated to a seven-speed Direct Shift Gearbox (DSG) transmission, capable of 130 Ps of power at 5,000 rpm and 225 N-m of torque at 1,400 to 3,500 rpm. The interior features and comfort

Story & photos by Randy S. Peregrino

EW automotive dealership Auto Asia recently inaugurated its first branch in Sta. Rosa, Laguna. This new dealership is set to make waves in the country’s ever-growing motoring landscape. Situated on a 1,300-squaremeter property along the National Road, this new dealership will offer two worldclass auto brands under one roof—the Korean SUV specialist, Ssangyong and one of China’s top automotive brands, Changan.

amenities include leather seat material, cruise control, Climatronic-air conditioning, Push Start and sunroof. Safety highlights include the ESP, Electronic Differential Lock, Anti Slip Regulation (ASR), hill hold control, and front and rear PDC. The Lavida’s price starts at P1.171 million. The Tiguan, on the other hand, offers the perfect German-engineered SUV experience in both city and out-of-town adventures, and is ideal for growing families and corpo“When a buyer walks into an Auto rate executives at the peak of their Asia dealership, one can choose active lifestyles. The Tiguan offers from a wide range of products from the space, versatility and power for SUVs, pickup trucks, MPVs or small both urban and cross-country travtrucks for both the family and els, giving both the family and the one’s business. And they will get driver the opportunity to discover the same brand of sales and afternew pathways for their leisure, recsales service that puts the customer reation and business. first,” said Japheth Castillo, presiThe Tiguan 280 TSI DSG SE has dent of Ssangyong Berjaya Motor a 1.4-liter four-cylinder Turbo FuelPhilippines Inc. and Berjaya Auto Injected petrol engine with BlueMoAsia, Inc. tion Technology mated to a six-speed The facility boasts a well-lit disDSG transmission. Maximum power play area with an expansive seroutput is 150 Ps at 5,000 rpm, while vice bay capable to accommodate maximum torque is at 250 N-m at eight vehicles. Five of these service 1,750 to 3,000 rpm. Its interior feabays have lifters equipped with tire tures and comfort amenities include changers, and wheel balancing and “Vienna” leather seat material, twoalignment machines. Since Auto zone Climatronic airconditioning, Asia values the customer-centric panoramic sunroof, eight speakers care approach, a Mobile Service and driver power 12-way seat adVan is available to provide periodic justment. Safety systems include maintenance service to customers ISOFIX anchorage points, ESP, ASR, within a 100-km radius from the EDS, EDTC, hill hold control and rear dealership. Moreover, Auto Asia is PDC with acoustic warning signal. set to open more dealerships in the The Tiguan is offered for P1.648 Metro, as well as in Luzon, Visayas, million. Mindanao regions.

New Chinese auto brand

WITH 35 years of experience building passenger cars and commercial vehicles both in China and around the world, Changan is currently the fourth-largest automotive player in China. Further, it’s been producing and servicing vehicles for the last 61 years, as well as passenger vehicles in 35 years—tucked under its 157-year-old belt. In the Philippines, the Changan brand will be operated by newly formed distributor Berjaya Auto Asia Inc. Its initial salvo will include the Honor S seven-seater multipurpose vehicle. Interestingly, this model features sliding doors on both sides for easy ingress and egress. Poised to enter the small MPV segment in the country, this model is powered by a 1.5-liter gasoline motor with Variable Valve Timing (VVT-i) generating 105 hp and 145 N-m of maximum torque. It is mated to a five-speed manual gearbox driving the rear wheels. This MPV is also fitted with a 10-inch Android-based infotainment LCD screen unit with audio connectivity functions. There

THE newly inaugurated Auto Asia dealership in Sta R

is also an option for an eight-seater configuration to accommodate more passengers. The Honor S is priced at P585,000. Positioned to cater, small to medium-scale businesses, Changan has the Star Truck model series. This small truck model is available in either Cab/ Chassis and Dropside body configurations. There’s also an available aluminum container variant. Powered by a 1.2-liter gasoline mill, it generates 97 hp and 119 N-m of maximum torque. It’s mated to a five-speed manual gearbox driving the rear wheels. It has TwoDIN CD player for entertainment and equipped with three-point seatbelts for safety. The Star Truck Cab and Chassis variant is priced at P435,000, while the Dropside body style is at P455,000. As for the aluminum container version, it’s valued at P488,000.

Ssangyong rolls out new models

AUTO Asia also rolled out new models as an addition to its growing lineup of models. First was the Musso Grand pickup. With almost 310 mm of extra

Motoring BusinessMirror

E4 Friday, July 5, 2019

Biking binge returning in China? movement is monitored via GPS (Global Positioning System). Can that be adopted here—and help make Edsa traffic-free? And allows us a cleaner air to breathe, too? Paging Angkas.

Ateneo valedictorian

ILL China revert back to its bike-only platform in the near future? A sweet shock(?), indeed, if it will, as this world’s second-largest economy after the United States remains as the No. 1 car market globally. But in my recent trip to Beijing, the Chinese capital’s CBD (Central Business District) teems again with bicycles. Just like in the old days. And look at this: the bicycles are not privately owned but for hire. You will see the bikes parked on virtually all available spaces on their extra-wide pavements, either locked in chains or not.

You only have to use your cell phone to “employ” the bike and, voila, it’s all yours for the ride anywhere you want to. The trip is all paid for through your mobile phone. Upon reaching your destination, just leave the bike there. Trucks will collect the bikes. Mostly, I saw them bundled close to train stations. You can’t steal the bike since its

APPLAUSE for Reycel Hyacenth Bendaña, the Ateneo de Manila University 2019 Class valedictorian. Hya, the daughter of a jeepney driver from Polangui, Albay, has accepted the offer of Joey Concepcion, the visionary Go Negosyo founder, to start a social enterprise that will help jeepney drivers affected by the government’s Public Utility Vehicles Modernization program. But more than being impressed by Hya’s graduation speech, Concepcion had stressed Go Negosyo’s success is anchored on its 3Ms: mentorship, money and market. “I think Go Negosyo is the perfect platform to be able to reach out to jeepney drivers so that we will not have hundreds and thousands of families who will end up losing their livelihood and income. Go Negosyo can do something to save their kids from having their dreams of a better future shattered,” Bendaña said. I can only agree.

I’ve always liked Joey, whose immortal counsel is: “You need money to finance your social work.” How true.

Socco speech

HERE’S to continue the classic Toyota hybrid speech of Vince S. Socco, the TMAP executive vice president: “Growing populations, economic expansion and the desire for more convenient lifestyles have been increasing the pressure on the use of natural resources and the resultant creation of more waste. “This makes the need for resource recycling a critical concern. Challenge 5 in our TEC2050 addresses the need to establish a recycling-based society and systems. “As part of Toyota’s efforts to build an ideal recycling-based society, Toyota is taking on the challenge to globally deploy end-of-life vehicle treatment and recycling technologies by 2050. “Toward this end, by 2030, Toyota aims to set up 30 model facilities for appropriate treatment and recycling of end-of-life vehicles, as well as establish battery collection and recycling systems globally. “This challenge is based on two key projects—Toyota Global Car-toCar Project, and Toyota Global 100

Dismantlers Project. “In 1970 Toyota established the world’s first end-of-life vehicleshredding company owned by a car manufacturer. Since then, we have been recycling iron, plastic, aluminum parts, batteries, rare metals and magnets. “In 2009, we started the world’s first HEV battery collection recycling system, and have collected 98,700 hybrid batteries as of March 2018. “In 2012, we also started the world’s first HEV motor magnet recycling, and we have collected 35 tons of magnets as of March 2018. “Batteries for hybrid electric vehicles are expected to increase globally in the future. “Last year, Toyota Thailand became the first and only carmaker to launch the hybrid electric vehicle battery 3R scheme in Thailand. Three Rs include rebuild, recycle and reuse. “Batteries, after inspection, are either rebuilt or recycled for new vehicles. Otherwise, they are used as stationary rechargeable battery packs installed in Toyota dealers. “Without proper end-of-life vehicle dismantling processes, the environment, our health and safety will be adversely affected. This includes chlorofluorocarbons and hydrofluorocarbons that cause the

Max Verstappen

depletion of the ozone layer. “To prevent this problem, we promote the Toyota Global 100 Dismantlers Project to facilitate appropriate disposal of end-of-life vehicles. “In 2014, Toyota launched a model facility for proper treatment of end-of-life vehicles in Beijing, China. So far, approximately 126,000 end-of-life vehicles have been processed at this facility. “ Toyot a T ha i l a nd recent ly concluded a trial end-of-life vehicle dismantling project as well. This is a first-ever in Southeast Asia and we are the only OEM in Thailand to establish this capability.” Conclusion is next.

PEE STOP Deepest

condolences to Lexus President Raymond T. Rodriguez, whose mother died on June 29. The inurnment of Francisca Santamaria Tiongson Rodriguez will be today (Friday, July 5) at the Tiongson Family Mausoleum, Plaza Dignity, Manila Memorial Park (Yakal Chapel) at Dr. A. Santos Avenue (Sucat), Parañaque City.… May I also extend my sympathies to Bong Igaya, who lost his father after a lingering illness. Dandy Igaya, Jake P. Ayson’s bosom buddy, was a respected top official at the Capitol Hills Golf Club in Quezon City. Rest in peace, Dandy.

oring

sMirror

Friday, July 5, 2019

ODUCES CHANGAN

SANGYONG MODELS

Suzuki brings Auto Fest 2019 across the country

FOLLOWING last year’s success, Suzuki Auto Fest 2019 will be held in various malls nationwide

SSANGYONG Rexton 4x4 seven-seater premium SUV

UZUKI Philippines Inc., the country’s pioneer subcompact car distributor, takes this years’ Suzuki Auto Festival nationwide. The series of exhibits will be held in various SM Supermalls nationwide bringing the Suzuki award-winning cars and the Suzuki Way of Life even closer to more Filipinos. Join in on the fun and experience Suzuki vehicles up close and personal in the following venues and dates: SM Telabastagan, July 6-7 SM Iloilo, July 27-28 SM BF Parañaque, August 17-18 SM GenSan, September 21-22 SM Davao, October 26-27

This year’s Suzuki Auto Festival will showcase the most-valued Suzuki units, such as the Suzuki Ciaz, Swift, Dzire, Vitara, all-new Ertiga and the all-new Jimny alongside Suzuki V-Storm Motorcycle. Games and fun activities await car enthusiasts and families to help them bond during the weekend festivities. The Suzuki Safety Scouts Corner will also be there and will be a sure hit with the kids. Suzuki Philippines Director and Automobile Division General Manager Keiichi Suzuki shared, “We have made it our consistent goal to provide Filipinos with innovations and design that will fit their various lifestyles.

Suzuki Philippines is experiencing a business momentum right now due to the consistent support from our valued customers. The Suzuki Auto Festival is a series of celebrations we hold every year as our way of giving back and reminding the Filipinos of our commitment to innovate. We are looking forward to seeing our fans in the exhibits and for them to experience the Suzuki Way of Life!” For more information about Suzuki Philippines and their automobiles, please visit http:// suzuki.com.ph/auto/ and like them on www. facebook.com/SuzukiAutoPH, https://twitter. com/SuzukiAutoPH and follow on Instagram at @suzukiautoph.

Autokid forges partnership with Dongfeng SSANGYONG Musso Grand 4x4 pickup

Rosa, Laguna. Auto Asia

length, this pickup is the largest-inclass at 5,405mm total length. It also has an increased cargo capacity of 1,025 kilograms. With extra length means longer cargo bed providing the biggest volume in the one-ton pickup segment. What is more, Ssangyong Philippines is offering two rear suspension setups. One is a coil spring option for the short wheelbase and leaf spring suspension for the Musso Grand. Introduced in both 4x4 and 4x2 variants, the top spec gets sunroof, premium brown leather upholstery with ventilation, a deck pillar, as well as Apple CarPlay and Android Auto connectivity.Its instrument cluster boasts a 3.5-inch Super Vision. In terms of safety, the 4x4 variant is equipped with Active Rollover Protection, Hill Descent Control, and Electronic Stabilization Program. The Musso Grand 4x4 variant is priced at P1.65 million, while the 4x2 version is valued at P1.23 million. There’s also the base model with manual gearbox being retailed at P1.18 million. Meanwhile, Ssangyong Philippines

has finally introduced its entry into the hotly contested SUV segment—the Rexton. With four generations tucked under its belt, this premium SUV from Korea is being positioned not only to compete with its Korean counterparts, but to the rest of the world, as well. What’s interesting about Rexton is that, unlike the traditional pickupbased SUV, the Rexton was built as the platform basis for the Musso pickup and not the other way around. Moreover, it was designed from the ground up to be a people mover with off-road capabilities. The cabin alone already boasts generous space thanks to the widest-in-class 1,950mm width and longer 2,855mm wheelbase. Those dimensions make the Rexton as one of the most well-appointed seven-seater SUVs in the market. Its massive frame is further complemented by stylish 20inch rollers (4x4 variant) and 18-inch rims (4x2 variant). Available in both 4x4 and 4x2 variants, the Rexton offers nice convenience and standard safety features. It has ventilated and heated premium

brown leather seats for that premium feel and an Apple CarPlay and Android Auto capable head unit for easy device connectivity and safer driving. Of course, there’s the 7-inch Super Vision instrument cluster. Mind you that these are just the few. Motivation comes from a 2.2-liter diesel motor with e-VGT Variable Geometry Turbocharger generating 181hp and 420N-m of maximum torque. It is mated to a seven-speed automatic transmission equipped with Drive Mode Selection. The Rexton 4x4 variant is valved at P2.23 million while the 4x2 version is priced at P1.73 million. Both the Reston premium SUV and Musson Grand pickup come with a fiveyear or 100,000km warranty plus free three-year Periodic Maintenance Service schedule. This includes a service interval of six months or 10,000kms coverage. Best part is that customer can also avail themselves of the Mobile Service Van for the PMS as long as its within 100-kilometer radius from the dealership.

UTOKID Truck Solutions is now the premier distributor of Dongfeng trucks in the Philippines. By forging a partnership with Dongfeng Automotive Co. Ltd. (DFAC) and Dongfeng Commercial Vehicle Co. Ltd. (DFCV), Autokid now carries a range of light-, medium- and heavy-duty trucks for various needs of local businesses. To celebrate this milestone, Autokid hosted “Drive Your Business: The Autokid-Dongfeng Grand Launch” on June 26. For light-duty missions, the Dongfeng Captain series provides both power and efficiency. Trucks in this series feature modern cabin interiors, smart safety and driving features, and efficient Euro IV engines. These come in dropside, aluminum van, refrigerated van and FB type, double cabin and mini-dump, boom type and other body options. Autokid also presented the Dongfeng KR for medium-duty truck requirements. Featuring a capable engine powered by Cummins and Yuchai, the Dongfeng KR addresses urban and intercity transport, as well

as challenging construction jobs. It comes in cargo, dump, cement mixer and boom type body options. The Dongfeng KL is a reliable and powerful choice. The 10-wheeler tractor head variant features a reliable powertrain, smart safety and driving features, and a powerful 380-horsepower Cummins Euro V engine. Available in tractor head or cargo truck variants, the Dongfeng KL meets transport requirements in fast, clean and dependable ways. For heavy-duty construction needs, the Dongfeng KC Dump Truck is equipped with a strong powertrain, solid chassis and a 375horsepower Cummins Euro engine. The Dongfeng KC easily adapts for heavy construction site use, mining operations, and an array of off-road and heavy-duty missions. For other business requirements, Autokid promises to provide the right truck. This existing lineup of Dongfeng trucks can be reconfigured to match special purpose vehicle (SPV) needs. Besides the launch of its newest trucks, Autokid also announced its

commitment for better after-sales services. Autokid’s truck parts arm, Truckstop aims to provide the widest selection of brand new and original spare truck parts for one’s business. In the coming months, interested customers can order truck parts online through Autokid’s web site https:// shop.autokid.com.ph. The company also provides truck repair services through its Autokid Service Care. Its main facility, in Santa Rita, Bulacan, has 80 service bays for truck repairs. Soon, Autokid will open a new service center in Bulacan City, which will have over 50 service bays. Autokids service centers are manned by Tesda accredited mechanics who are trained to repair trucks of all brands—especially those with Euro IV engines. This is a noted development as more businesses are transitioning to Euro IV. To know more about Autokid Truck Solutions line of products and services, visit https://www.autokid. com.ph. Also read about different trucking solutions at https://www. autokid.com.ph/blog.