BusinessMirror March 27, 2019 by BusinessMirror

NO MORE PERMITS FOR EDSA BUS TERMINALS

T BUSINESSMIRROR FILE PHOTO

HE Metro Manila Council (MMC) has approved the resolution prohibiting the issuance of business permits to all public-utility bus terminals and operators and other publicutility vehicles along Edsa, the Metropolitan Manila Development Authority (MMDA) announced on Tuesday. MMDA Chairman Danilo D. Lim, who presided at the meeting, said the approved regulation is in line with President Duterte’s order to close down all bus terminals along the major artery. “Our direction is to remove all bus terminals along Edsa and relocate them in the outskirts of the metro to minimize traffic congestion,” Lim said. He said the role of local govern-

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ment units is crucial to prepare for the eventual removal of the terminals, since the LGUs issue the business permits needed to operate the business establishments. Lim said they will recommend the closure of bus terminals by April in coordination with the Land Transportation Franchising and Regulatory Board (LTFRB). In the resolution, the MMC said the ingress and egress of public-utility buses and other public-utility vehicles in and out of the respective terminals along Edsa greatly contribute to the traffic congestion. The regulation has yet to be signed by all the Metro Manila mayors who com-

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Wednesday, March 27, 2019 Vol. 14 No. 168

Budget’s fate hangs on review by Palace P

By Bernadette D. Nicolas @BNicolasBM Butch Fernandez @butchfBM & Jovee Marie N. dela Cruz @joveemarie

RESIDENT Duterte will review the enrolled 2019 budget bill and sign if it is constitutional, Malacañang vowed on Tuesday, following a move by senators to withdraw their reservations in order to reach bicameral accord on a final version of the pending P3.7-trillion 2019 national budget, but flagging for lineveto item those parts they claimed were not ratified in plenary. This basically makes signing of the budget law a judgment call by the President. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said the President will still have to evaluate whether the Senate’s position on

the post-ratification changes on the budget bill are valid. “ T he Senate says it ’s i l legal, unconstitutional. And the President says he will not sign

anything that is unconstitutional. As far as he is concerned, he will have to evaluate whether or not the opinion of the Senate is indeed correct. It depends, the

“[The compromise is] proof that, [while we belong to different camps] we agreed on public interest to break the budget deadlock...What we have done is we maintained our position that insertions are unconstitutional but not to disregard the entire budget.”—Drilon

President is a lawyer,” Panelo told reporters. Asked if the President is not being put in an awkward position by leave it to him to decide on the budget issue, Panelo said: “No, their [lawmakers’] job is to pass the bill, the President’s budget. See “Budget,” A2

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‘Burning torch of amity between our peoples’ Teddy Locsin Jr.

FREE FIRE Remarks of Foreign Affairs Secretary Teodoro L. Locsin Jr. on the visit to Mindanao Kokusai Daigaku with H.E. Taro Kono, Minister of Foreign Affairs of Japan, on February 10, 2019, in Davao City.

OUR Excellency Foreign Minister Taro Kono, Ms. Ines Yamanouchi Mallari, school president, school administrators, faculty and staff, dear students, ladies and gentlemen: O-ha-you go-zai-ma-su! Continued on A10

Fil-Chinese bizmen told: Get inputs from MSME

By Lorenz S. Marasigan @lorenzmarasigan

NSOLICITED proposals for the development of airports near Manila should be up and running within next month, with one group risking losing its deal due to its supposed inability to agree with the government on certain terms. Transpor tation Secretar y Arthur P. Tugade said he is giving the Naia Consortium until April 30 to come to an agreement with the government on certain provisions of the deal. “We want to hasten the decision on the unsolicited proposal of Naia Consortium. Our discussions are too long. So what I want is that we have to come to an agreement by April 30; after that I will stop talking to them,” he said at a media briefing on Tuesday. Naia Consortium, a team of Filipino conglomerates, offered to rehabilitate, expand, operate and maintain the Ninoy Aquino International Airport through a P102-billion investment spread across 15 years. Tugade did not disclose any point of contention on the proposal, but merely said that there are several provisions that need to be refined.

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Naia Consortium gets April 30 deadline for settling issues

See “Naia,” A2

prise the MMC, the policy-making and governing body of the MMDA. A dry run will also be conducted after the Holy Week in April so as to prepare the operators and also the commuters. At present, several terminals are being constructed for provincial buses originating from south and north of Metro Manila, including a terminal in Valenzuela City and one in Santa Rosa, Laguna. The MMDA also hopes to close down all terminals by June and is optimistic that with the closure of provincial bus terminals, traffic flow on Edsa would be better as provincial buses will no longer be allowed to enter Metro Manila to load and unload passengers.

REPRESENTATIVES of the companies comprising the Naia super consortium are seen in a briefing in this 2018 file photo. From left, Metro Pacific Investment Corp.’s Kris Anne Arasula; Asia’s Emerging Dragon Corp.’s Lorna Pangilinan; AC Infrastructure Holdings Corp.’s Janet Bautista; Aboitiz Infra Capital Inc.’s Jimbo Reverente; Alliance Global Inc.’s Carla Uykim; Filinvest Development Corp.’s Terry Coronel; and JG Summit Holdings Inc.’s Jourdan Lee. The group said actual passenger traffic in 2017 has exceeded Naia’s design capacity by 11 million passengers, or 35 percent. NONIE REYES

“Empowering our MSMEs allows us to empower the nation. And the Filipino-Chinese business community, as our partners, will create a significant difference in their lives.”—Lopez

@alyasjah

HE country’s trade chief has appealed to FilipinoChinese businesses to include small enterprises in their value chain by sourcing their input requirements locally. In a speech at a recent business forum, Trade Secretary Ramon M. Lopez said Filipino-Chinese business owners and conglomerates should buy their materials from micro, small and medium enterprises. By doing so, they provide MSMEs the opportunity to expand the network of their businesses, he added. Lopez said it is important that MSMEs are involved in the local and global value chains that will allow them to sustain their operations. “We urge our Filipino-Chinese businesses to partner with us in creating more opportunities for our countr ymen. Source your raw materials and products from our MSMEs and include them in your respective businesses’ value chains,” Lopez said.

Further, Lopez called on the business community to adopt an inclusive business model—wherein firms source their input requirements from MSMEs—as this is reportedly proven to provide sustainable assistance to small enterprises through continued transactions. “It has been the vision of President Duterte to uplift the lives of all Filipinos, especially those at the bottom of the pyramid, through entrepreneurship [because] empowering our MSMEs allows us to empower the nation. And the Filipino-Chinese business community, as our partners, will create a significant difference in their lives,” the trade chief said. See “MSME,” A2

Farmers told: Plant edamame beans to survive El Niño By Ashley Manabat | Correspondent

LARK FREEPORT—All is not lost for farmers suffering due to the El Niño. “Farmers should not despair,” former Candaba Mayor and twoterm Pampanga Mayors’ League President Jerry Pelayo said during the recent Balitaan media forum organized by the Capam-

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pangan in Media Inc. (Cami), in cooperation with the Clark Development Corp. (CDC) at the Bale Balita here. Pelayo said his group, composed of private individuals, is now looking for farmers with lands that can be planted with edamame beans, which require very little water and are not affected by the prolonged dry spell.

He said the group secured a $5-million purchase order from Japan for edamame beans. Pelayo said the farmers will be like contract growers who will be provided by their group with the seedlings and capital. After harvest, their group will buy the produce. “That is why we are now going around determining the exper-

tise of farmers because if they are into tilapia growing, they cannot plant edamame. But if they’re planting munggo [soy] or sitaw [legumes], they know edamame,” he said. According to Wik ipedia, edamame are young soybeans, usually still in the pod. Because the beans are young and green when they are picked, edamame

soybeans are soft and edible, not hard and dry like the mature soybeans which are used to make soy milk and tofu. Pelayo said farmers with idle lands are encouraged to plant edamame beans especially if rice is not suitable for their farms. “The farmers will have a ready market. We will be the one to put See “Edamame,” A2

n JAPAN 0.4780 n UK 69.4160 n HK 6.6982 n CHINA 7.8343 n SINGAPORE 38.9420 n AUSTRALIA 37.3754 n EU 59.4716 n SAUDI ARABIA 14.0164

Source: BSP (26 March 2019 )

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Forced SSS membership for OFW slammed By Samuel P. Medenilla

@sam_medenilla

IGRANT groups and the recruitment industry have rejected the draft implementing rules and regulations

(IRR) of Republic Act (RA) 11199 or the Social Security Act for allegedly containing illegal provisions, with one support group launching a 1-million signature campaign to oppose its implementation.

They zeroed in on a provision in the IRR making the mandatory membership of overseas Filipino workers (OFW) to the Social Security System (SSS) a condition for their deployment abroad. “The measures for enforcement of compulsory coverage shall include, among others, the collection of contribution payments by the Philippine Overseas Employment Administration [POEA] and/or the concerned attached DOLE agencies, through its applicable documentation and deployment processes such as the issuance of Overseas Employment Certificate [OEC],” the 75-page draft said.

Inapplicable

RECRUITMENT leader Lito Soriano said the provision is unlawful, particularly for new hires since mandatory members under RA 11199 should only apply to OFWs. “The employment contract of a contract worker for an overseas job is valid upon departure,” Soriano said Until then, he said an applicant cannot be considered an OFW covered by the RA 11199. He said the SSS premium collection from an aspiring OFW before he or she gets his or her salary may be deemed a form of exploitation and illegal exaction.

More consultations

BLAS F. OPLE Policy Center (BOPC) Head Susan Ople agreed with Soriano and also called the IRR “flawed.” She singled out the provision making SSS premium payment a condition for OEC issuance. An OEC is an issuance from the POEA, which allows a Filipino worker to be employed abroad. “Why should social security become a con-

Budget. . .

dition for employment abroad?” Ople said. She urged SSS to conduct additional consultations before it finalizes the draft IRR to address its “problematic” provisions. It will be the Social Security Board that will give the final go-ahead to the final draft of the IRR.

Signature campaign

FOR its part, Migrante Philippines slammed the IRR for imposing yet additional charges for land-based OFWs. Based on the provision of the IRR, landbased OFWs in countries which do not have the necessary Social Security Agreement (SSA) with the Philippines will have to pay their SSS premiums as voluntary members. For new hires, direct hires and those deployed through government-to-government arrangement, the membership fee would be at least one monthly contribution. In the case of rehires, it will be at least three-monthly contributions. The rate of contribution will depend on the earnings and age of the covered workers. “In this mechanism of the government, OFWs will be forced to pay their premium on their own without any [share from the employer],” Migrante Philippines Chairman Armand Hernando said. Migrante Philippines launched on Tuesday its 1-million signature campaign to oppose the implementation of the IRR. It also vowed to hold additional demonstrations against the new policy in the coming days. SSS earlier said it is targeting to enforce the new mandatory membership for OFWs by June and collect at least P13 billion from its initial two years of implementation.

If they have done that, the ball is now in the hands of the President. They just performed their duty.”

The senators noted that at least P75-billion internal realignments were made “after the budget was ratified,” suggesting that Duterte should consider vetoing these provisions. With the concurrence of the Senate leadership, Sotto said the Senate is now “sending the bill as is” to Malacañang for signing into law.

Senate paves breakthrough

Silence from House

Continued from A1

IN a last-minute change of mind, Senate leaders agreed on Tuesday to withdraw their reservations that had left both chambers of Congress deadlocked the past two weeks, paving the way for Duterte to sign the money measure into law and enable the government to stop operating on last year’s reenacted budget. After a one-day meeting between some members of the House and the Senate, Senate President Vicente C. Sotto III signed with “strong reservations” the 2019 GAA enrolled bill, citing “unconstitutional realignments.” Sotto said the senators instead opted to leave it up to Duterte to line-veto items in the budget found by senators to be objectionable, including “last-minute realignments” made by the House after the budget bill as approved by the bicameral conference committee was already ratified by both chambers. “The bottom line is that we signed the enrolled bill [to be submitted to President Duterte] but asserting that this is what we ratified,” Sotto said. Senate Majority Leader Juan Miguel F. Zubiri pointed out that “there is no problem with 98 percent of the budget against only 2 percent that President Duterte can veto.” For his part, Senate Minority Leader Franklin M. Drilon cited the compromise as “proof that [while we belong to different camps] we agreed on public interest to break the budget deadlock.” “What we have done is we maintained our position that insertions are unconstitutional but not to disregard the entire budget,” he said, adding that as far as the “thick insertions after the budget was ratified, we maintain the view that the insertion is unconstitutional and we need to point it out.”

Naia. . . Other groups

Continued from A1

“WE want to continue with our plans if this does not move forward. I have a budget from the general appropriations. And yes, we can entertain other groups, but that’s just an option,” he said. Megawide Construction Corp. has also proposed to develop Naia for $3 billion with a concession period of 18 years. It has partnered with GMR Infrastructure Ltd. of India for this unsolicited offer. Naia Consortium, on the other hand, is composed of Aboitiz InfraCapital Inc., AC Infrastructure Holdings Corp., Alliance Global Group Inc., Asia’s Emerging Dragon Corp., Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp. In another development, Transportation Undersecretary Manuel B. Tamayo said his group will start with the Swiss Challenge for the Bulacan International Airport deal of San Miguel Corp. (SMC) within April. “We are now finalizing the terms of reference for the Swiss

THE leadership of the House of Representatives chose silence following the signing “with strong reservations” of the proposed General Appropriations Act (GAA) by the Senate. The three-man team of House Appropriations panel chairman Rolando Andaya Jr., Albay Rep. Edcel Lagman and San Juan Rep. Ronaldo Zamora, who met their Senate counterparts, refused to comment as of press of time. Earlier, Andaya reiterated that the budget itemization implemented by the lower chamber was within the parameters of the bicameral committee report ratified by each chamber. He said the House only itemized the lump-sum fund and did not change what was agreed upon in the bicameral conference committee.

Palace review

PANELO, meanwhile, said the Palace review will not take long. “Knowing the President, he will act on it immediately because we need a new budget,” he said. The Department of Budget and Management (DBM) also released a circular letter on the release of funds for the second quarter of 2019. “Pending enactment of the General Appropriations Act for FY 2019, all operating units, i.e., agencies of the national government receiving allotment/notice of cash allocation directly from DBM, are authorized to obligate the amount corresponding to their actual requirements under the regular budget for the second quarter of FY 2010 but not to exceed the following percentages,” read the Circular Letter 2019-07 dated March 26 signed by DBM Officer In Charge Janet B. Abuel.

Challenge. Once completed, hopefully within the next two weeks we can publish it. It will take approximately 60 days for other groups to submit a better offer than that of original proponent. Then we will have the notice of award,” he said in the same briefing. Unsolicited proposals, under the law, should undergo a competitive challenge, wherein other parties may vie for the project by offering a better-priced proposal than the original proponent. The original proponent will then have the right to match the offer to win the deal. Under its proposal, San Miguel wants to spend P754 billion to develop the Bulacan International Airport, envisioned as a 2,500-hectare airport complex with a total capacity of 100 million passengers annually, and a provision to build an 8.4-kilometer airport toll road. The proposal also included the construction of a sea port, an industrial zone and expressways. SMC’s proposed concession period is 50 years. Ramon S. Ang, the company’s president, said his group is excited to hit the ground running for the airport this year, calling the project a sustainable development for the province of Bulacan and its neighbors.

Edamame. . . Continued from A1

up a processing plant and other logistics. It will be a partnership between the farmers and our group,” he explained. “Dapat kung mainit huwag ka nang magtanim ng palay. Magtanim ka ng kailangan ng init [If the weather is already hot, don’t plant rice anymore. Plant something that will thrive in hot weather]. These are the beans, [such as] munggo, edamame,” he said. “Kaya hindi palaging water ang problema. Dapat may alternative na crop na puwedeng itanim [That is why lack of water is not always a problem. There should be alternative crops that farmers can plant],” Pelayo added. Pelayo said edamame beans planted in the Philippines are far better in quality than those planted in Taiwan, which means the Philippines is the most suitable area for growing the crop.

Agri summit

PELAYO is one of the convenors of the Agricultural Growth through Industry and Leadership by the Private Sector for Acceleration of Modernization and Industrialization, or Agila, which called for an agricultural summit in November last year. Agila’s main objective is to gather data.“We conducted a summit where no government officials were invited,” he said. “Our objective is to gather data on farmers, their produce, livestock, fruit bearing trees, and aquaculture.” Pelayo said they tackled financing problems of the agriculture sector. “The billions of pesos released for water pumps, harvesters, planters, dryers, these are sold them or rented out to the private sector.” “My recommendation is to buy the farm implements only once and then lend them to farmers for free. Farmers should return the implements after use,” he added. Pelayo noted that farm implements are bought every year but there is no inventory of these equipment. “Every year we buy these farm implements, but where are they now? What happened? Where is the inventory?” Farmers must also be taught financial literacy. “Education, especially financial literacy should be taught where students will be housed in dormitories,” he said. Pelayo said extension schools of agricultural colleges and universities that are easily accessible to farmers and their children should be put up in cities and municipalities.

MSME. . .

Continued from A1

Lopez recognized the role of Filipino-Chinese businesses in bridging the relationship between the Philippines and China, as some of China’s largest investments in the country are joint ventures, including the Hebei integrated steel complex in Mindanao, the industrial park in Batangas, power plants, among others. He vowed the government is working toward liberalizing key sectors of the economy, particularly utilities and retail trade, as the business sector has long demanded. Lopez also said FilipinoChinese businesses can take part in government efforts to revive the manufacturing sector of the Philippines.

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LTO chief vows to wipe out vehicle plate backlog by mid ‘20 By Lorenz S. Marasigan

@lorenzmarasigan

he Land Transportation Office (LTO) has vowed to remove the enormous backlog in motor vehicle licenseplate production and distribution by the middle of 2020, as the agency bared plans to procure another plate manufacturing machine to hasten the production of registry plates.

From processing plates manually, the agency is now using an automated machine to produce the plates. So far, it was able to produce 254,000 pairs of plates from the 15 million backlog that lasted for roughly five years. “The target moving forward is to address the balance of 15 million plates by 2020. We feel that by the middle of next year, we can cover the outstanding undelivered plate already,” Edgar Galvante, the chief of the LTO, said during a media briefing on Tuesday. To recall, Knieriem BV Goes and Power Plates Development Concept Inc. (JKG-PPI) in 2013 won the contract for the supply of the license plates. It was then subjected to a number of legal tussles starting from a notice of disallowance from the Com-

mission on Audit due to alleged violation of procurement rules. The said notice covered more than half of the 15 million plates that were scheduled to be distributed to their owners. It was then subjected to a temporary restraining order issued by the Supreme Court. In July 2018, LTO received a resolution dissolving the notice. It was six months after the High Court lifted its stay order. “The contractors agreed to deliver to us the materials so that we can manufacture the plates. It will be much faster because we now have an automated plate-making machine. We are also planning to add one more as the demand increases,” Galvante said. The new machine, he added, will also be used to manufacture

Palace clarifies Yang no longer holds presidential adviser post

alaca ña ng on Tuesday clarified that Davao-based businessman Michael Yang— who is currently in hot water over his alleged involvement in the illegal-drugs trade—is no longer employed as President Duterte’s economic adviser. This, as Yang’s name again resurfaced after former police officer Eduardo Acierto, who was linked to an P11-billion shabu smuggling case, claimed his life is in danger after he informed Malacañang that there are two Chinese nationals close to President Duterte who are deeply involved in the narcotics trade. “Mr. Michael Yang’s One Peso per annum contract expired on December 31, 2018,” Executive Secretary Salvador C. Medialdea said in a text message to reporters. President Duterte last year denied that Yang was his economic adviser, saying he cannot even be appointed to a government post because he’s a Chinese citizen. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo also said on Tuesday that Yang may face dire consequences—even possible death—if it is proven that he is into illegal drugs. “ You don’t k now t h is [Duterte] guy. He [Duterte] will kill him if he [Michael Yang] is involved [in illegal drugs],” Panelo said in a chance interview at Malacañang. The Palace spokesman reiterated that the President will not tolerate anyone regardless of the stature or relationship with him if that person is involved in illegal drugs and also warned that charges will be filed against him if the allegations valid. Otso Diretso senatorial candidates, meanwhile, called on the Duterte administration to face and not sweep under the rug the allegations raised by former police officer Acierto that two Chinese nationals close to the President are involved in the illegal-drug trade.

Acierto disclosed that he prepared a confidential report about Michael Yang and a certain Allan Lim in August 2017, which he submitted to then-Philippine National Police chief Ronald dela Rosa, Philippine Drug Enforcement Agency (PDEA) head Aaron Aquino, and Police Deputy Director General Camilo Cascolan. However, no action was taken on his report, the former police officer said. Otso Diretso bets Florin Hilbay, Erin Tañada, Romy Macalintal, and Samira Gutoc said the Office of the Ombudsman should motu propio, or on its own investigate, the allegation. “This is a challenge to the Ombudsman because there are government officials involved…Do your homework, these people are not immune from suit. You can investigate them and file appropriate charges if warranted,” Tañada said. While immune from suit, Hilbay said the President is not immune from the investigative powers of the Ombudsman “for purposes of impeachment or for purposes of publicizing the allegations of Mr. Acierto and determining the credibility of those allegations.” To Macalintal, the Ombudsman can initiate an investigation even without a formal complaint. “Even a mere text message or an anonymous letter could be enough to kick off an investigation. I’m still puzzled on why this matter is being ignored,” Macalintal said in Filipino. Gutoc urged the administration to initiate an internal cleansing within its ranks, adding those who may be involved you “should internally cleanse yourself.” The Otso Diretso candidates also said that the President’s admission that the drug problem has worsened means the campaign is a failure. Tañada warned that this could lead to more killings of drug suspects. Bernadette D. Nicolas

the fresh license plates required by the motorcycle plate law that was signed by President Duterte just recently. “So we need to add more equip-

ment. For now, the operation of the plant is two and a half shifts only, so we are increasing that to three shifts. We also need to add more

manpower,” Galvante said. He noted that to prevent a similar backlog incident from piling up, the LTO will manufacture plates ahead of

time and deliver them to dealerships so that once a person buys a new vehicle, the car will be able to immediately sport its own license plate upon purchase.

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PHL to see benefits of rice trade law in 2 years–report

By Jasper Emmanuel Y. Arcalas

@jearcalas

he Philippines will feel the impact of the rice trade liberalization law two years after its effectivity, with the poor benefiting from the anticipated influx of cheap imports, according to the latest Global Agricultural Information Network (GAIN) report. However, the Gain report noted that the benefits will only be realized if the government would implement Republic act (Ra) 11203 without any “impediments.” a previous Gain report indicated that the government may face lawsuits due to farmers’ dismay over the new law. “The effects of Ra 11203 are expected to be more pronounced in the next two to three years, and will largely depend on how effectively the interventions are implemented and how efficiently the bureaucracy transitions to liberalized rice trade,” the report, which was published on Tuesday, read. The Gain report, prepared by

the US Department of agriculture’s (USDa) Foreign agricultural Service in Manila, noted that Philippine rice consumption would increase on the back of more available and affordable supply. Philippine rice consumption, which accounts for 45 percent of the average Filipino’s calorie intake, in marketing year 2019-2020 would increase by 150,00 metric tons (MT) to 13.8 MMT from 13.65 MMT in the current marketing year 2018-2019. The Philippine rice marketing year begins in July and ends in June of the following year. “actual rice consumption has been flat in recent years, although

demand is expected to increase modestly in two to three years as the effects of rice import liberalization become more apparent [i.e., increased imports resulting in lower rice prices],” the report read. “average rice consumption accounts for about 20 percent of a household’s budget. This may go higher by as much as 30 percent for the bottom 30 percent of Filipino families, according to industry,” it added. The USDa projected earlier that the opening up of the Philippine rice market could push its imports this year to a record high 2.6 million metric tons (MMT), making the country the second-largest buyer of the staple since the 2008 rice price crisis. in its monthly grains report, the USDa said rice exports to the Philippines would expand by 4 percent to 2.6 MMT, from the estimated volume of 2.5 MMT in 2018. The USDa also revised upward its February forecast for Philippine rice imports in 2019 from 2.3 MMT to 2.6 MMT. The USDa attributed the hike in imports to the implementation of the rice trade liberalization law, paving the way for a new trade regime for the Philippines.

Under the law, importers would just have to secure a sanitary and phytosanitary import-clearance from the Bureau of Plant and industry prior to shipment arrivals. The law also deregulated the national Food authority (nFa), removing its power over rice trade in the country. “as a result of this legislation, higher rice imports are expected from nearby association of Southeast asian nations member-countries, with their relative low cost and preferential access to the Philippines,” the USDa said. “[The 2.6-million metric ton import volume] is a record not seen since the international price spike in 2008 and would make the Philippines the second-largest global importer in 2019,” it added. Government data submitted to the World Trade Organization indicated that this could be the biggest volume of rice to be imported by the Philippines in history, overshadowing the volume it purchased in 2008. in 2008, the Philippines imported 2.39 MMT of rice, with 2.297 MMT of the total volume being bought by the nFa; while in 2010, the country purchased 2.369 MMT.

Editor: Jennifer A. Ng • Wednesday, March 27, 2019

PAJ, SMC to honor top agri, environment writers T he country’s best agriculture and environment journalists will be honored at the 2018 PAJSMC Binhi Awards for excellence in agricultural journalism, on March 28, 2019, 7 p.m., at the Makati Diamond Residences, Makati City. Agriculture Secretary emmanuel “Manny” F. Piñol will serve as the main guest and keynote speaker of the annual contest sponsored by San Miguel Corp., attracting more than 100 contestants, according to newly elected Philippine Agricultural Journalists (PAJ) President Alfredo G. Gabot. The DA chief will be joined at the presidential table by SMC President and Chief Operating Officer Ramon S. Ang, who will share an inspirational message, and former Agriculture Secretary Senen C. Bacani, who will speak as chairman of the five-person board of judges. This year’s Binhi awardees will be led by the top 3 winners in the three major categories—agricultural journalist, environment journalist, and agribeat reporter of the year—who will each receive cash prizes ranging from P50,000 to P20,000, and respective trophies, said Gabot, who also previously served as president of the PAJ and the National Press Club of the Philippines. The PAJ has been conducting the Binhi Awards since 1978 to recognize the efforts of media persons covering the agriculture, environment and agrarian reform beats, including writers, editors and broadcast journalists for their reportage, agricultural publications, radio and television programs, and information campaign, said Noel Reyes, PAJ vice president for external affairs and chairman of the 2018 PAJ-SMC Binhi Awards committee. Before the awarding ceremonies,

Piñol will induct the 2019-2020 PAJ officers and board of directors, led by Gabot, who will then lead the launch of the inaugural issue of the PAJ Binhi Magazine and new design of the PAJ membership ID, and announce the group’s reactivation as member of the International Federation of Agriculture Journalists, (IFAJ) established in 1956, with a current membership of 5,000 communicators in 50 countries. The PAJ will also honor five of its colleagues for their respective lifetime achievements and excellence in agricultural journalism, namely: Rodolfo “Rudy” Fernandez (posthumous), of The Philippine Star and University of the Philippines Los Baños; Dr. Anselmo “Ka elmo” Roque, of The Philippine Daily Inquirer and Central Luzon State University; Ramon Magsaysay Awardee Zac Sarian, Manila Bulletin agriculture section and Agriculture Magazine editor; former National Press Club President, Balita editor, former press undersecretary, and first Binhi awardee as agricultural journalist in Filipino Marcelo Lagmay; and former Philippine News Agency Managing editor and PAJ Founding Director Joaquin “Jake” espino. Special awards will also be conferred on henry Lim Bon Liong, president and CeO of SL Agritech Corp., and PAJ past President Roman Floresca. Winners in the 12 minor categories of the 2018 PAJ-SMC Binhi Awards will receive P20,000 cash prize and a Binhi trophy, said Reyes. These are the best agri story, feature story, environment story, climate change story, and water sustainability story, best photo journalist, agri section of a national newspaper, magazine, newsletter, radio program, and agri information and advocacy campaign.

In the ad material of Notice of filing of Application for Alien Employment Permits published on March 29, 2019, the position of Ms. Lin, Jinwei under NEW ORIENTAL CLUB88 CORPORATION should have been read as Chinese Customer Service and not as published. If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

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editorial

Threat to PHL food security

OTHING has changed nearly seven years after the government sounded the alarm that Filipino farmers are aging and the youth are not interested to go into agriculture. The current average age of Filipino farmers is 57 years old, prompting some lawmakers to call farming a “dying profession.” Who can blame those who are not keen on tilling the land? Farming in the Philippines is usually a backbreaking work that offers little reward. Data from the Philippine Statistics Authority will attest to the difficulties faced by farmers. In a report released in June 2017, the PSA disclosed that the farming sector consistently topped the list with the highest poverty incidence. The poverty incidence among farmers in 2015 was at 34.3 percent. Prior to the release of the 2017 data, agriculture (next to fisheries) also posted the highest poverty incidence in 2006, 2009 and 2012. Apart from the unwillingness of the young generation to go into farming, those who stayed are now being driven away from the sector by inadequate or bad government policies. Take the case of the tobacco farmers in the Ilocos region. While there is evidence that the increase in excise taxes on tobacco and alcohol (or “sin” taxes) slashed the cigarette consumption of Filipinos, it also caused 12,000 farmers to stop planting the crop (See, “‘Sin’ tax forces farmers to give up tobacco,” in the BusinessMirror, March 25, 2019). Of the 12,000 farmers who stopped planting tobacco, industry data indicated that 2,300 planters left the agriculture sector for good. The data, however, did not indicate the alternative livelihood of these farmers. Some of those who stopped planting tobacco shifted to corn, which is more suitable for the Ilocos region. How long will they plant corn is anybody’s guess because the crop is not as profitable as tobacco. This could also happen to sugar farmers if the government succeeds in further opening up the sector in its bid to rein in inflation. Thousands of small planters would stop planting sugarcane once the government allows the unimpeded entry of imported sugar (via tariff reduction or removal of nontariff barriers). Farm workers or sacadas are already leaving the sector in droves and are taking on construction jobs that pay higher. Unfortunately for sugarcane farmers, funds allocated by the government to improve their competitiveness are much smaller than those given to the tobacco sector. If the government is not careful in implementing the rice trade liberalization law, planters may follow the lead of those who have left the tobacco sector. Republic Act 11203 calls for the establishment of the Rice Competitiveness Enhancement Fund, which consist of tariffs collected from imports. The P10-billion RCEF would bankroll programs aimed at cushioning the impact of more rice imports. But the fund is an initiative that should have been put in place while Congress worked on amending RA 8148, or the Agricultural Tarrification Act. The same goes for the rice industry road map, which details the strategies that would help ensure the sector’s survival in light of the expected influx of cheap imports. The rationale for the crafting of the road map only after the rice trade liberalization measure has been enacted remains unclear. It is akin to letting soldiers go to battle sans the necessary artillery and equipment. Let’s hope that these lapses will not cause significant harm to the country’s food production. Even then, unless the government can find a way to produce crops and other foodstuff without human labor, the exodus of Filipino planters will remain a big threat to the country’s food security.

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‘Burning torch of amity between our peoples’ Teddy Locsin Jr.

FREE FIRE Continued from A1

HANK you for the warm welcome. It’s a pleasure seeing young students—filled with hope, energy and enthusiasm —learning Japanese and committed to the promotion of mutual understanding between the Philippines and Japan, and faith in the future of our country and the prospects of our relations with Japan. Davao is a city that figures prominently in the history of the bonds of friendship and economic interaction between the Filipino and Japanese peoples. Mindanao International Col-

lege, the No. 1 Japanese language college in the Philippines, carries the bright burning torch of amity between our peoples. Not only does this institution equip you with knowledge and skills to be

Mindanao International College, the No. 1 Japanese language college in the Philippines, carries the bright burning torch of amity between our peoples. Not only does this institution equip you with knowledge and skills to be competitive in today’s world; it instills you with a rich and unique sense of patriotism and heritage, grounded on your Philippine identity, and enriched by an awareness of your links to Japan if not your Japanese roots.

competitive in today’s world; it instils you with a rich and unique sense of patriotism and heritage, grounded on your Philippine identity, and enriched by an awareness of your links to Japan if not your Japanese roots.

The skills you gain will be vital to our continuing engagement with Japan, our most important partner and one that ranks among the world’s leading economies. You must parlay the skills and perspectives acquired here and turn them not only to professional advantage but to enriching yourselves by connecting with Japanese culture, which is one of the pinnacles of civilization. Read Murasaki’s Genji and Murakami’s Kafka on the Shore. In Heian Japan, the people spoke in verse. It is a great honor and privilege to be standing here with you, educators, administrators and students alike. By your talents and commitment, you shore up the foundations of a more prosperous Philippines and a strengthened strategic partnership with Japan. Do—mo ari—ga—tou go—zai— ma—su.

Mueller report’s reckoning finally arrives

‘T

By Eli Lake | Bloomberg Opinion

HE investigation did not establish that members of the Trump campaign conspired or coordinated with the Russian government in its election interference activities.” That single sentence, taken from Special Counsel Robert Mueller’s report on Russian interference in the 2016 US presidential campaign, calls for a reckoning. It’s a reckoning for Democrats who saw almost every development in this almost two-year investigation as another dot connecting a conspiracy Mueller has not found. It’s a reckoning for many in the media that dutifully passed this theory along without scrutiny or context. And it’s a reckoning for many national security officials who abandoned their traditional nonpartisan role as custodians of state secrets to engage in a campaign against a president they loathed. Their suspicions, I should note, were not unwarranted. During the 2016 election, there was strong evidence that Russia had hacked the emails of leading Democrats, a fact supported by Mueller’s indictments. The country later learned from Mueller that Moscow conducted a social-media campaign to flood Twitter and Facebook with fake news and propaganda to discredit Hillary Clinton. Trump, meanwhile, once publicly invited the assistance of the Russians. But many people who should have known better went beyond suspicion and embraced conspiracy. Remember Sen. Harry Reid’s explosive letter to James Comey, released just a few days before the election, alleging that the FBI director possessed devastating information about Trump and his campaign’s ties to Russia? Reid did not provide many details. We now

know that many of the allegations to which Reid referred echoed an infamous dossier prepared by a former British spy at the behest of an opposition research firm paid by the Democratic Party. Reid wasn’t the only one. Last year the House Intelligence Committee released memos that showed how this dossier was part of the underlying evidence the FBI provided in a surveillance application to a secret court to monitor the communications of Carter Page, a low-level foreign policy adviser to the Trump campaign. Page has not been charged with a crime, and yet his reputation has been trashed after a top-secret warrant for his surveillance was leaked to the media. The dossier set the initial narrative for the Trump administration. After CNN reported that it was included as part of a briefing Comey himself provided to Trump and Obama, Buzzfeed published the whole thing with the helpful caveat that it was not verified and was in places incorrect. The most important takeaway so far of the Mueller probe is that this dossier is garbage. Then there is the matter of Trump’s first national security adviser, Michael Flynn. He was forced from the administration and into a legal nightmare after his monitored conversations with Russia’s ambassador to Washington leaked

The end of the Mueller probe is more than just a reckoning. It is also a reminder, if anyone needed another one, that the FBI and the intelligence community can be wrong. And it is a powerful illustration of the importance of keeping spies and lawmen out of politics.

a few weeks before Trump’s inauguration. It’s true that Flynn failed to file as a foreign agent for Turkey, a crime that is normally punished as a slap on the wrist. At the time though, the accusation against Flynn was that he was a Russian spy, based on leaked transcripts that are never supposed to see the light of day. How silly do these hyperventilations look today in light of Mueller’s conclusions? What’s more, it’s a scandal that no one has investigated how those transcripts were leaked in the first place. Given that the FBI’s own inspector general found that leaking with impunity is commonplace, the bureau’s agents should at least be among the suspects. Finally, there is that handful of former officials who validated the worst fears of Americans about Trump without ever providing actual evidence. The best example is former CIA Director John Brennan. For the last two years, Brennan has been a frequent guest on cable TV to spread the innuendo that Trump is compromised by Russia. Just this month, he speculated that Mueller would be indicting members of Trump world for criminal conspiracy, even as he insisted he had no “inside knowledge” of Mueller’s deliberations. That last part, at least, turns

out to have been true. The saddest part of all of this is that there was a lot of evidence, hiding in plain sight, that could have spared many collusion proponents their embarrassment. Mueller’s indictment of Roger Stone, for example, alleged that Stone was tasked by a senior campaign official to find out what was in the e-mails that Russia hacked from Wikileaks founder Julian Assange. If the campaign were coordinating with Russia’s influence campaign, why would Stone need to go to Wikileaks? There were also the transcripts of interviews before the Senate Judiciary Committee of participants in the June 2016 Trump Tower meetings where Donald Trump Jr. and others in the campaign took a meeting with a Russian lawyer who initially promised dirt on Hillary Clinton. Under oath, those witnesses said nothing came of the offer. And Trump, it should be noted, has appointed Russia hawks at the highest levels. Secretary of State Mike Pompeo, National Security Adviser John Bolton and his predecessor H.R. McMaster, and former Secretary of Defense James Mattis all have long public records when it comes to Russia. If Trump were a Russian stooge, why would he appoint them to such posts? And despite his own baffling sycophancy toward Russian President Vladimir Putin, Trump has not been weak on Russia in terms of policy. The end of the Mueller probe is more than just a reckoning. It is also a reminder, if anyone needed another one, that the FBI and the intelligence community can be wrong. And it is a powerful illustration of the importance of keeping spies and lawmen out of politics.

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Why the Golan and PFRS 9 Crimea aren’t so different Atty. Dennis B. Funa

INSURANCE FORUM

Leonid Bershidsky

BLOOMBERG

OTH allies of President Vladimir Putin and critics of President Donald J. Trump are playing up a supposed connection between US recognition of the Golan Heights as part of Israel and an acknowledgment of Russia’s annexation of Crimea. The parallel is tenuous. The superficial resemblance between the Golan and Crimea situations is clear: Both were seized from neighboring countries (respectively, Syria and Ukraine) using military force. Both were annexed for strategic reasons. Israel took the Golan Heights in 1967, after the Six Day War, to prevent attacks from Arab nations from the elevation of the plateau. The topographic superiority allows a small Israeli defense force to repel attacks by large armies; in 1973, 177 Israeli tanks in the area stopped the onslaught of 1,500 Syrian ones. Putin took Crimea fearing that a new Ukrainian government would shut the Russian military bases in the peninsula and allow the North Atlantic Treaty Organization (Nato) to establish a presence right next to Russia’s Black Sea ports, effectively shutting off the country’s warm sea access. Comments by Secretary of State Mike Pompeo last weekend, meant to deny the Golan-Crimea connection, only served to reinforce the comparison. “What the president did with the Golan Heights is recognize the reality on the ground and the security situation necessary for the protection of the Israeli state,” Pompeo said. “It’s that simple.” If it is, then the US should also recognize the situation on the ground in Crimea, as well as Russia’s security interests there. Taking note of this, Maria Zakharova, the Russian Foreign Ministry spokeswoman, wrote on Facebook that Crimea recognition should “follow automatically” from Pompeo’s remarks. Indeed, a superficial argument can be made that if one strategic annexation can be recognized, as Trump suggested last week, then so can the other, and not doing so makes the US look hypocritical. Russian politicians, of course, haven’t missed this opportunity. “On one case they apply one set of principles, in another one the principles are different,” Sergey Tsekov, a Russian legislator specializing in foreign policy, told the state-controlled outlet RT. “It’s a policy of double standards, traditional for the US.” But, in an apparent self-contradiction, the official Russian argument isn’t that Trump should recognize the Golan Heights as Israeli and therefore Crimea as Russian. It’s that the Golan Heights annexation shouldn’t be recognized because it violates international law. The Russian Foreign Ministry’s official commentary on Trump’s tweet and on Pompeo’s subsequent remarks

refers to the 1981 United Nations Security Council resolution, which designated the Golan takeover as illegal. Of course, there’s no such resolution about the Crimea annexation, simply because Russia blocked attempts to pass one. There are, however, UN General Assembly resolutions declaring the land grab illegal. And the Security Council decision on the Golan Heights is as fitting a precedent for Crimea as the resolutions adopted when Iraq invaded Kuwait in 1990 or when the Republic of Northern Cyprus was proclaimed in 1983. These decisions affirm on an international level the so-called Stimson Doctrine, according to which the US shouldn’t recognize the involuntary border changes of countries with which it has signed treaties. From this point of view, Russia’s official reaction is correct, and the unofficial comparison with Crimea isn’t. The US, as well as everyone else, should refrain from recognizing annexations. That encourages territorial wars regardless of the justice of the cause. Unless that is the general rule, it’s easy to slide into discussions about the specific differences between the Golan and Crimea situations. For example, in the war that led to the takeover of the plateau, Israel was attacked first, and with what was meant to be overwhelming force; Russia was the bully and the attacker in Crimea. Israel’s strategic advantage is real and necessary, as proven during the 1973 Syrian attack; the threat to Russia is imagined: It would take a long time and lots of additional conditions for Nato to move into Crimea, and even then the danger to Russia would have been theoretical. On the other hand, Crimea had been part of Russia, and at least a visible part of its majority Russian-speaking population backed the annexation in an illegitimate 2014 vote. Israel took the Golan Heights without any historical justification or references to the population’s will. By the time such arguments start getting kicked around, though, it means there are no firm rules and, in the end, anything goes. The post-World War II rule against recognizing land grabs is perhaps the most important one in the current international order. It’s a key reason wars of conquest are extremely rare today. This is one case where the Russian Foreign Ministry’s official line on the Golan is correct; it should apply to Crimea, too.

HE Philippine Financial Reporting Standard 9 (Financial Instruments) is the local adoption of International Financial Reporting Standard 9 issued by the International Accounting Standards Board on July 24, 2014. PFRS 9 replaces International Accounting Standards 39—Financial Instruments: Recognition and Measurement, in three phases. IFRS 9 is primarily concerned with the accounting of financial instruments (debt, derivatives and equity) and seeks to establish a new financial instruments standard. This change was triggered by the financial crisis of 2008 and seeks to address perceived deficiencies in IAS 39. Together with IFRS 9, there are two other standards that are seen as challenging. These are: IFRS 15, Revenues from Contracts with Customers; and IFRS 16, Leases. IFRS 9 includes three main components: a) requirements for recognition, classification and measurement of financial instruments; b) impairment of financial

assets; and c) hedge accounting. As for the classification of financial assets, IFRS 9 sets out three major classifications: amortized cost; fair value through profit or loss; and fair value through other comprehensive income. Debt instruments are classified and measured either at amortized cost or at fair value depending on (a) the contractual cash

Bloomberg Opinion

OUGHER times are ahead for the technology industry. A downturn sparked by excess inventories and weakened demand, signs of which were evident back in August, could drag on longer than expected. Samsung Electronics Co. said on Tuesday that first-quarter results will fall short of estimates. The rare profit warning came about a fortnight before the company was scheduled to give preliminary sales and operating figures. Things were looking so dire that it couldn’t sit on the news any longer. “Company-wide earnings will fall short of market expectations,” Samsung said in a brief regulatory filing. The company went on to blame its memory and display businesses.

Between them, these two product lines account for 43 percent of revenue. More importantly, Samsung is the world’s biggest supplier of both. At the heart of Samsung’s warning is the failure of prices to improve. Dynamic random-access memory, or DRAM, chips—used to improve performance of devices such as phones, computers and servers— is the crude oil of the tech hardware industry: crucial across the sector, but highly commoditized and subject to supply-demand imbalances. Average contract prices for DRAM fell 20 percent this quarter, and the decline will worsen, market researcher TrendForce Corp. noted late Monday: The accelerating drop in prices did not stimulate a recovery in demand, and transactions have still been few. DRAM ASP is predicted to continue falling well into the third quarter as

flow characteristics of the financial asset and (b) the entity’s business model for managing financial assets. On the other hand, equity securities will be classified at either FVTPL or irrevocably designated at initial recognition at FVOCI. As such, all equity securities shall be measured at fair value. Derivatives will be classified and measured at fair value through profit or loss with fair value changes recognized in profit or loss. IFRS 9 introduces a new impairment methodology, as opposed to the incurred loss model under IAS 39. The new impairment methodology addresses the delayed recognition of credit losses. IAS 39 or the incurred loss model was believed to have contributed to the 2008 financial crises. The present system introduced a forward-looking expected credit loss model. The underlying principle of the ECL model is to reflect the general pattern of deterioration or improvement in the credit quality of financial instruments. It is a principlesbased accounting standard geared toward the earlier recognition of

impairment losses. The application of hedge accounting requirements under PFRS 9 is optional. PFRS 9 was mandatorily effective for periods beginning on or after January 1, 2018. PFRS 9 does not cover and, therefore, does not replace the requirements for fair value hedge accounting for interest rate risk. The Insurance Commission issued Circular Letter 2014-41, dated September 25, 2014, requiring MBAs to adopt a Standard Chart of Accounts that is aligned with PFRS 9 consistent with Section 189 of the Insurance Code. However, the IASB issued a directive in 2015 to give companies whose business model is predominantly to issue insurance contracts the option to defer the effective date of IFRS 9 until 2021 or until the effective date of the new insurance contracts standard. Both IFRS 9 and IFRS 17 can then be applied at the same time. Dennis B. Funa is the current insurance commissioner. Funa was appointed by President Duterte as the new insurance commissioner in December 2016. E-mail: dennisfuna@yahoo.com.

Redefining overseas employment through the new SSS law Susan V. Ople

SCRIBBLES

EFINITIONS are important. Words that define who we are provide clarity, certitude and purpose. For example, I embrace the definition of a mother because that is who I am. That classification makes sense to me, and I have my daughter to raise and nurture and protect as any mother would. The definition of a definition is that it is a statement that expresses the essential nature of something. Thus, if a law defines a carpenter as someone who fixes cars, then we would have houses with steering wheels and engines. If a law defines a doctor as a nurse, then certain limitations would be imposed, though both are noble professions. If a law defines solo parents as simply parents who live in separate houses, then the indescribable challenge of having to raise a kid by one’s self is lost in translation. A wrong definition can be a dangerous thing. The Social Security Act of 2018 defines overseas Filipino workers as self-employed until a bilateral labor agreement (BLA) shall have been entered into, thus land-based overseas Filipino workers shall pay both the employer and the employee contributions. This definition makes no sense, except for collection purposes. We all know that every OFW has a foreign employer—but because it is almost improbable that a foreign employer would give his or her share of contributions to our SSS, then under this law, that significant person becomes invisible.

The same law defines manning agencies as employers. Section 3 under Rule 14 of the Social Security System law states: “Sea-based OFWs are compulsory members of the SSS. Manning agencies are agents of their principals and considered as the employers of seabased OFWs. For purposes of the implementation of the Social Security Act of 2018, they are jointly and severally or solidarily liable with their principals with respect to the civil liabilities incurred for any violation of the Social Security Act of 2018, any law to the contrary notwithstanding.” A manning agency cannot be and is not a seafarer’s employer. Global shipping companies recruit seafarers through the manning agencies, which, in turn, handle payroll and other administrative matters. Do manning agencies pay for the salaries of seafarers? No. They provide remittance platforms so that the families of these seafarers can have easy and safe access to the monthly allotments. Can you invoke the joint and several liability of a manning

Samsung warning is tech’s inverted yield curve By Tim Culpan

Wednesday, March 27, 2019 A11

inventories’ clear-outs have yet to be completed. Flash memory, which stores information as a replacement for traditional hard drives, is so standard-

ized as to become equally vulnerable to the ebb and flow of market forces. It saw similar price drops, though the outlook is rosier, TrendForce wrote last week. For displays,

agency for unremitted SSS contributions, especially when the seafarer is no longer at sea? Strangely enough, under this law, the answer would be yes. A law that is intellectually dishonest would make its implementing institutions dishonest as well. You cannot redefine what it means to be an OFW just because you need their premiums. Am I against making SSS membership compulsory for OFWs? Yes. I believe in freedom of choice. But, and let me make this clear, I am not against the SSS. I believe that an OFW must be free to choose whether to be a member of Pag-IBIG Fund or SSS, and yes, even PhilHealth, and when as well as where to pay his or her contributions. These workers will be gone for an average of two years. Yet even before they could even earn their first salary, these institutions are already grabbing money from their pockets. The draft implementing rules and regulations of the new SSS law specifies that for land-based OFWs, the measures for enforcing compulsory coverage shall include the collection of contribution payments by the Philippine Overseas Employment Administration (POEA) and Department of Labor and Employment through “its applicable documentation and deployment processes such as the issuance of Overseas Employment Certificate [OEC].…” In short, walang kawala. Pay before you leave. If you don’t pay, you won’t be issued an OEC, hence, you can’t leave. How much will a non-SSS member, first-time OFW pay? For new hires, direct or name

hires and government-to-government hires, they are required to enroll as an SSS member with one monthly contribution. For rehires or those processed as Balik-Manggagawa, they are required to pay three months’ contributions. If POEA becomes the collection agency, this means that for a worker who has to come home due to any emergency or any circumstance beyond his or her control, the worker’s first money out would be to the SSS, for a compulsory three months’ contribution. What would be the minimum premium for a first-time OFW, including a domestic worker bound for Kuwait or Saudi Arabia? The minimum amount is currently pegged at P960, according to the SSS. For that same worker to come home for a vacation or to renew her contract, she would have to pay P2,880. Why in heaven’s name should an OFW shell out that much money when all she or he wants to do is come home for a brief visit? The solution, as I am sure the SSS management would be quick to say, would be for our government to enter into as many bilateral labor and social security agreements as possible. Under such agreements, the OFW will now have an employer who can share in the contributions. Easier said than done, of course. As of today, we only have 11 such bilateral agreements involving social security. Definitions are important. How can we reconcile existing laws on overseas employment with this new social security law, which defines an OFW as self-employed and manning agencies as employers? But hey, what’s important is for the SSS to survive and thrive, yes? Like I’ve said, walang kawala.

Samsung pointed to softening demand for flexible OLEDs, which ran headlong into increased capacity for alternative displays as Chinese rivals built more factories. Weakness in these two categories could indicate problems not just across the industry, but the global economy. Much of the world’s economic growth in the past decade has been spurred by the tech sector—handheld devices, cloud-based computing, faster communications networks, and cheap money pouring into the VC-funded start-up ecosystem. The result is that the world’s four most valuable companies are in tech. But that wasn’t going to last forever, and already economists and traders are pointing to an inverted yield curve as a sign that the economy is sputtering. As Bloomberg macroeconomics strategist Cameron Crise

wrote this week, an inversion of the yield curve—when returns are bigger for short-term debt than longerterm debt—can show an increased probability of recession rather than a simple prediction that it will definitely occur. I’d argue that Samsung’s warning serves the same function. If the world’s most dominant player in the two most important technology commodities can’t dodge a sharp and unexpected deterioration, then you can bet others will also be struggling. And this is a company that already chose to be far more conservative than rivals on spending this year. Samsung’s profit warning doesn’t mean a technology recession is here, but it tells us that the odds of a further deterioration are climbing. Investors ought to place their bets accordingly.

2nd Front Page BusinessMirror

A12 Wednesday, March 27, 2019

China can’t seize Reed Bank sans ‘patrimonial asset’ tag

By Bernadette D. Nicolas

@BNicolasBM

RESIDENT Duterte will not declare gasrich Reed Bank as a patrimonial asset, shooting down the possibility of China seizing it, Malacañang said. This, as Malacañang said that a public property may only be declared as patrimonial asset if there is an enabling law allowing that or there is or a proclamation from the President. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo assured the public that a proclamation will not be forthcoming to satisfy one of the controversial provisions in the contract covering China’s funding for the Chico River Pump Irrigation Project. “He will not do that,” Panelo said. “In the first place, the loan

agreement has been signed, there’s nothing more to add, right?”

No assured claim

THE Department of Finance also reiterated on Monday that it did not declare anything as collateral in the loan agreement and that the creditor has no assured claim on any asset. Finance Undersecretary Antonio Joselito G. Lambino II said a 2002 Supreme Court ruling penned by Supreme Court Senior Associate Justice Antonio Carpio said the “government must formally declare that the property

“He will not do that [declare gas-rich Reed Bank as a patrimonial asset].... In the first place, the loan agreement has been signed, there’s nothing more to add, right?”—Panelo

of public dominion is no longer needed for public use or public service, before the same could be classified as patrimonial property of the State.” The Palace spokesman earlier denied the claim of Carpio that China could seize natural gas deposits in Reed Bank in case of default by the Philippines in repayment of the loan for the Chico River Pump Irrigation Project. While Malacañang said the country will never default on paying its debts, the Palace also sees nothing wrong with the controversial provisions, which it played down as “standard.” Last Friday, Carpio warned that China can seize “patrimonial assets and assets dedicated to commercial use” of the Philippine government, including the gas fields in the Reed Bank that are within the Philippine exclu-

sive economic zone in the West Philippine Sea. Patrimonial assets refer to those owned by the State in its private or proprietary capacity, such as those that are not intended for public use, or for some public service, or for the development of the national wealth. Under Article 8, paragraph 8.1 of the loan agreement on the Chico River Pump Irrigation Project, the Philippines “irrevocably waives any immunity on the grounds of sovereign or otherwise for itself or its property in connection with any arbitration proceeding.” The exceptions cited under the agreement include those assets used by a diplomatic or consular mission of the Republic of the Philippines, those assets of a military character and under control of a military authority or defense agency of the Republic of the Philippines and those assets located in the Philippines and dedicated to a public or governmental use. Aside from waiver of immunity provision, Carpio has also raised alarm over the questionable terms of arbitration and the confidentiality clause under the agreement.

PHL, Cambodia hold joint defense panel meet By Rene Acosta

@reneacostaBM

HE Philippines and Cambodia recently held their first Joint Defense Cooperation Committee (JDCC) meeting in Phnom Penh, boosting the defense

cooperation and bilateral ties between the two countries. During their three-day meeting two weeks ago, both countries exchanged views on regional defense and security issues and tackled cyber security, counterterrorism and violent extremism and

EASTERLIES AFFECTING THE WHOLE COUNTRY as of 4:00 pm - March 26, 2019

peacekeeping operations. Both also discussed their bilateral defense relations and finalized various engagement activities, especially training and exchange visits of their army, navy and air-force personnel. “I believe the JDCC is really

important for our parties to work together to develop our defense cooperation program and development plan,” said General Neang Phat, Secretary of State of the Ministry of National Defense of the Kingdom of Cambodia. “I believe that our troops and our people are fully committed to the meeting and to fulfill all the requirements,” added the Cambodian official who cochaired the meeting. The JDCC was a product of the 2017 Memorandum of Understanding on Defense Cooperation between the Philippines and Cambodia.

Complaints vs Xi backed

MEA NWHILE, the Philippine Misereor Partnership Inc. (PMPI) supported the filing of fishermen and former top government officials of a complaint against Chinese President Xi Jinping and other Chinese officials for crimes against humanity. “The complaint is a brave step against the continuing disregard of the Chinese government of the Philippines’s claim over the West Philippine Sea, which the Duterte government fails to champion,” The PMPI said. On March 15, Filipino fisherfolk in the West Philippine Sea together with former Foreign Affairs Secretary Alberto del Rosario and former Ombudsman Conchita Carpio-Morales filed before the International Criminal Court (ICC) a complaint over environmental damage caused by the reclamation and construction of Chinese bases in the West Philippine Sea. “As we commend the Filipino fishermen who stand to be counted, PMPI also praises Carpio-Morales and del Rosario for accompanying our Filipino fisherfolk in what may be a long and difficult fight,” the PMPI said. The PMPI noted that in 2015, the Bureau of Fisheries and Aquatic Resources, which examined the ecological impact of the reclamation, declared that 311 hectares of coral reefs have been buried. “What more destruction can we expect after four years of reclamation and other illegal activities?” it said.

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BIDS 3X OVERSUBSCRIBED: B.T.R. AWARDS FULL P20B ON OFFER FOR 7-YR T-BONDS By Rea Cu

@ReaCuBM

HE Bureau of the Treasury (BTr) awarded the full P20 billion on offer for reissued seven-year Treasury bonds (Tbonds) on Tuesday, as the market posted ample liquidity during the auction for the government security. Deputy Treasurer Erwin D. Sta. Ana told financial reporters on Tuesday that the auction committee saw ample liquidity in the market as bids for the security were more than thrice oversubscribed. “Obviously, we see demand from the intermediate to long sections of the curve with this auction, and it just shows that there’s still liquidity in the system, more than P73 billion in tenders,” Sta. Ana said. The seven-year reissued T-bonds saw bids as high as P73.685 billion, with the auction committee awarding the full P20 billion on offer. The average annual rate for the security settled at 5.934 percent, lower by 15.3 basis points from the 6.087 percent set in the previous auction for the security. Investor preference for parking funds in longer-dated securities is seen to be fueled by the country’s inflation trajectory in the domestic front, as well as updates from the Federal Reserve System (the Fed) for the offshore setting, he noted. “Well, as we have said before, contributors would be the inflation path. The BSP [Bangko Sentral ng Pilipinas] has revised its inflation target for the year, and of course the dovish comments from the Fed. So naturally our GSEDs [Government Securities Eligible Dealers] are be-

having this way,” he added. He added that the auction committee did not open its tap facility for the T-bond auction, as the BTr is still considering the government’s level of disbursements, emphasizing that there should be a balance between the government’s disbursements and borrowings level. “...We see some slowdown in the disbursements, so that’s why we are also trying to balance whether we are borrowing more or we keep it at a program—so those kinds of considerations [are being weighed],” he said. The tap facility of the BTr is a window where the 10 market makers are able to bid for a second time on government securities, after its primary auction, enabling the government to maximize the demand for IOUs of investors. Last week, the BTr reported that the national government recorded a P44.5-billion budget surplus for January 2019 with revenue growth outpacing that of expenditures, on the back of a decline in government spending under a reenacted budget. Based on BTr data, the government reported a budget surplus of P44.5 billion for January 2019, which rose by 337 percent compared to the January 2018 surplus of P10.2 billion. This was attributed to January’s growth in revenues of 7 percent, which amounted to P256.7 billion from last year’s P238.9 billion, while expenditures contracted by 7 percent—amounting to P212.2 billion from the P228.7 billion incurred in January 2018.

Marcos to SC: Give OK to poll fraud probe in 3 Mindanao provinces

HE camp of former Sen. Ferd ina nd “Bongbong” Marcos Jr. on Tuesday asked the Supreme Court acting as the Presidential Electoral Tribunal (PET) to immediately act on its motion for the conduct of a technical examination of voting records in precincts in Lanao del Sur, Maguindanao and Basilan where cheating allegedly took place in the 2016 elections. In an urgent motion, Marcos lawyer George Garcia said it is now ripe for the Court to resolve his motion considering the findings of the Voters Identification Division of the Commission on Elections (Comelec) that the 2016 national, local and Autonomous Region in Muslim Mindanao (ARMM) elections were tainted by fraud, as indicated in the electoral protest filed by Abdusakur Tan against ARMM Gov. Mujiv Hataman. Marcos filed in December the motion to conduct technical examinations in precincts in the said provinces even though they are outside Camarines Sur, Iloilo and Negros Oriental—the three provinces Marcos previously claimed as best showing fraud in the 2016 elections. “It is humbly submitted that it would be the height of injustice if this Honorable Tribunal simply turned a blind eye on the massive substituted voting, which amended the 2016 national, local and ARMM elections in the provinces of Maguindanao, Lanao del Sur and Basilan,” the motion read. Counter ing Vice President Leni Robredo’s claim that his motion will unduly expand his pilot protested provinces and has no leg

to stand on, Marcos said his motion was prompted by “very significant supervening event, which is the findings of the Voters Identification Division of Comelec. “This development is a matter of transcendental importance not only to protestant Marcos but to the entire Filipino electorate considering that what is involved is the integrity and legitimacy of the election results for the position of vice president, which is the secondhighest Executive position in the Philippines,” Garcia said. A technical examination involves the comparison of signatures and thumbprints of voters in the Voters’ Registration Records (VRRs) as against the Election Day Computerized Voters’ List (EDCVL) of the entire 2,756 protested clustered precincts of Lanao del Sur, Maguindanao and Basilan in connection with the May 9, 2016, national and local elections. Marcos asked the PET to subpoena relevant documents and investigate chairmen and members of the Board of Election Inspectors in the said provinces, and to order the poll body to produce and submit the questioned documents dated June 5, 2018, and other relevant documents involving the technical examination conducted on the VRRs, as against the EDCVLs of 508 established precincts in the said provinces during the 2016 polls. Robredo’s camp opposed the motion, saying it goes against the rules of the PET prohibiting the introduction of additional clustered precincts outside of Camarines Sur, Iloilo and Negros Oriental. Joel R. San Juan

Editor: Efleda P. Campos

Companies BusinessMirror

Wednesday, March 27, 2019

Petron to issue ₧20-billion preferred shares this year

By Lenie Lectura

@llectura

ETRON Corp. said on Tuesday that it plans to raise up to P20 billion through the issuance of preferred shares. “The company has received the written assent of stockholders representing more than a majority of the total outstanding common capital stock in relation to the company’s solicitation for stockholders’ written assent to the proposed issuance by the company of preferred shares of up to P20 billion,” Petron said.

It did not provide further details. Early this month, Petron said it will redeem Series 2A preferred shares issued in 2014 at the redemption price of P1,000 per share on November 4, 2019. The country’s largest oil refiner reported a 50-percent decline in net income last year mainly due to

declining world oil prices. It posted P7.1 billion in net income last year and incurred an inventory loss of P10 billion for the last two months of the year. “It was a challenging year, yet we captured the majority of the market and remained the largest and fastestgrowing oil company in the country. While our long-term fundamentals remain attractive, we will continue to be prepared and responsive to market conditions,” Petron President Ramon S. Ang said. Operating income in 2018 reached P18.9 billion, 32 percent lower than last year’s P27.6 billion. Excluding the one-time item, profits would have ended

21 percent higher at P17 billion. Meanwhile, consolidated sales stood at P557.4 billion, up 28 percent from the P434.6 billion recorded in 2017. Petron managed a combined sales volume of 108.5 million barrels for the year, slightly higher than the 107.8 million barrels sold in 2017. In 2018, Petron’s 180,000 barrelper-day oil refinery in Bataan hit an annual utilization rate of 95 percent, its highest on record, as it further increased its production of high-value petrochemicals and fuels. Petron provides nearly 40 percent of the country’s fuel requirements through its Bataan refinery, 30 terminals and over 2,400 service stations nationwide.

Manila Water implements voluntary, one-time bill waiver scheme

ANILA Water Co. Inc. will implement a voluntary one-time bill waiver program in March to provide relief to its customers affected by the massive water-service interruptions starting on March 6. At a press conference held jointly with Metropolitan Waterworks and Sewerage System (MWSS) Administrator Reynaldo V. Velasco, Manila Water President Ferdinand M. de la Cruz said the one-time bill waiver will be reflected in the customers’ April bill. Under the plan, all customers will have their minimum charge waived. This covers the first 10 cubic meters (cu m) of water customers in the East Concession pay Manila Water. Second, customers in barangays severely affected, those that experienced absolutely no water service for broken days within March 6 to 31 will not be charged for their March bills. Manila Water came up with the voluntary, one-time bill waiver program after President Duterte gave the MWSS and its water concessionaires an ultimatum to address the water-supply shortage. Duterte reportedly threatened to make heads roll and cancel the concession agreement between the MWSS and Manila Water. Around 1.2 million households in the East Zone were affected by the severe water-supply shortage, blamed on a combination of reasons that in-

clude an increase in population and its customer base, the weak El Niño with unprecedented water-demand hikes, and the limited water allocation for Manila Water coming from Angat Dam. Manila Water’s minimum charge for the first 10 cu m ranges from P76—for the segment of the Manila Water customers that represents the lifeline or low consuming customers—to P656 for industrial customers. De la Cruz said the scheme will benefit lifeline customers the most, and their minimum charge, which is also their monthly charge, will both be waived. Based on Manila Water’s customer base, the one-time bill waiver will cost the company a minimum of P150 million. De la Cruz said they are still conducting on-ground validation to determine the number of customers who can avail of the “bill cancellation” for the inconvenience caused by the extraordinary watersupply shortage that led to the severe water-service interruption. “We are now conducting ground validation with barangay leaders to determine which barangays have been severely affected and who can avail themselves of the bill waiver,” he said. He said the bill waiver for severely affected will cost the company a lot more than the P150 million total to be let go by the company by waiving the minimum charge for the first 10 cu m to all its customers.

“We understand the profound frustration our customers have expressed in the past three weeks. To help ease in some way the inconvenience we have caused, with inputs from both MWSS Corporate Office and Regulatory Office, we are announcing a voluntary and one-time bill waiver scheme in March to be reflected in the Arpil bill of our customers,” he said. De la Cruz said technical solutions are being put in place to help stabilize the water-supply distribution regime across the East Zone in efforts towards service recovery. “As of March 25, our eight- to 12hour water availability at ground floor level has reached 97 percent,” he said. From a high of 61 severely affected barangays, he said the company’s water-distribution scheme had resulted in lowering the number of affected barangays to just eight over the past several days. The eight barangays, he said, remain dependent on interim network solutions, such as static tanks or water tankers that distribute water supply. De la Cruz said the company’s water-supply deficit is also down from 150 million liters per day to just 107 MLD. However, he said there are still “small pockets, sitios or streets with intermittent no-situations” until today resulting from the operational adjustments and pressure manage-

U.R.C. MARKS 25TH LISTING ANNIVERSARY Universal Robina Corp. (URC) celebrated its silver listing anniversary with a special

bell-ringing ceremony at the Philippine Stock Exchange (PSE) on Monday. “URCs market capitalization soared to P328.9 billion on March 22, 2019, from P8.35 billion on its listing day. It has also been a constituent of the PSE index for more than half its life as a listed company. This is a testament to how the market values the stock, which in turn is a reflection of how the company is managed and operated,” PSE Chairman Jose T. Pardo said in his welcome remarks during the event. Present during the event are (from left): JG Summit Independent Director Antonio L. Go; URC Director Patrick Henry C. Go; URC Director Robert G. Coyiuto Jr.; URC President and CEO Irwin C. Lee; URC Chairman Lance Y. Gokongwei; Pardo; PSE President and CEO Ramon S. Monzon; and PSE Directors Ma. Vivian Yuchengco, Wilson L. Sy, Emmanuel O. Bautista and Alejandro T. Yu.

ment they have come up with. Sought for reaction, Velasco said he could not ask for more from Manila Water. “I cannot ask for more as it is voluntary. But this does not include a penalty which the regulatory office may impose.” Jonathan L. Mayuga

LRWC raises ₧4.4 billion from private placement By VG Cabuag @villygc

A MI NG f i r m L ei su re and Resorts World Corp. (LRWC) on Tuesday said it raised P4.38 billion from private placement from a group of investors who took newly issued common shares from the company. In its disclosure to the Philippine Stock Exchange, the company said it issued 1.21 billion common shares from its unissued capital stock at P3.60 apiece. Its shares were voluntarily halted for trading on Tuesday as a result of the deal. Some 230 million common shares were each given to Fortunegate Holdings Philippines Inc., Millennium Pan Asia Business Management Services Inc., XII Capital Inc. and Diamond Fortune Holdings Inc., 121 million common shares to Euphonious Holdings Inc. and 176.64 million common shares to Leisure Advantage Inc. In January, the company’s shareholders approved the issuance of up to 1.3 billion common shares from its unissued capital stock. LRWC’s shares were last traded at P3.98 apiece.

The company earlier said the proceeds of the fund-raising will be used to refinance some of the company’s existing obligations and for general corporate purposes. In particular, the company said it will be used to refinance the P2.5-billion debt the company used to finance the acquisition of its 23-hectare Boracay property, eyed to be an integrated gaming resort in the island. LRWC said the $550-million facility, earlier reported to be being conceptualized together with Macau’s Galaxy Entertainment Group Ltd. (GEG), “will redefine the standards of luxury resorts in the country with bulk of its gross f loor area allocated for premium hotel rooms and other amenities like wellness centers, bars, lounges and fine-dining restaurants.” GEG is one of the world ’s leading resorts, hospitality and gaming companies. It primarily develops and operates a large portfolio of integrated resort, retail, dining, hotel and gaming facilities in Macau. In December 2017, GEG and LRWC were granted a provisional gaming license to operate Boracay Philippines Resort and Leisure Corp.

Companies BusinessMirror

Wednesday, March 27, 2019

Pilipinas Shell declares ₧4.8-B cash dividends

By Lenie Lectura

@llectura

ILIPINAS Shell declared cash dividends amounting to P4.8 billion, the oil firm’s highest payout since its initial public offering (IPO) in 2016. “Pilipinas Shell declared cash dividends of P3 per share, translating to a total of P4.8 billion or 95 percent of its audited net income for 2018. This surpasses the company’s commitment to maintain a dividend payout of at least 75 percent,” it said

on Tuesday. Approved by its Board of Directors on March 21, the dividends will be paid on April 30 to stockholders on record as of April 5. “We generated P14.1 billion cash from operations last year, which allows us to not only cover

our dividend payments, but also to fund P6 billion worth of capital expenditure this year,” said Cesar Romero, president and CEO. The oil firm said it plans to increase its capital expenditures from P4.1 billion last year to support expansion plans of its retail business, which include the opening of 50 to 70 new sites in strategic locations in 2019. Funds will also be used to implement projects in the midterm to enhance the crude flexibility of the Shell Tabangao Refinery. “We are investing in our facilities and infrastructure to deliver strong returns to the public we continue to serve, including our investors. This means sustained reliable service,

world-class quality products and tangible returns for our shareholders,” Romero said. The oil firm reported a net income of P5.1 billion last year, 50 percent lower than the P10.37 billion it made in 2017. Pilipinas Shell said its marketing business delivered robust earnings despite the aggressive competition and higher pump prices in 2018. It said the manufacturing segment recorded its highest reliability in five years, but the contribution to the integrated business was impacted by the sudden drop in crude prices in the fourth quarter and depressed regional refining margins.

Carmen’s Best integrates latest POS system to improve operations, service

OMEGROWN ice-cream brand Carmen’s Best has tapped the new point-of-sale (POS) system developed by Genie Technologies Inc. (GenieTech) to help boost operations and deliver quality customer service as the company diversifies from mere distribution to retail business. When the company opened a kiosk at Alabang Town Center in Muntinlupa, owner Fran-

cisco “Paco” Magsaysay realized many patrons still did not know their products. “So, I decided we needed more stores and embarked on a full-blown retail business,” he said of their decision to unveil their first icecream parlor at Power Plant Mall in Rockwell, Makati City, last year. This sit-down store, with a counter that looks like a traditional ice-cream cart, was not

briefs

ABOITIZPOWER SUBSIDIARIES AMONG DAVAO’S TOP TAXPAYERS

DAVAO City named three AboitizPower subsidiaries among its top taxpayers in 2018, highlighting their role in helping shape the growing metropolitan through their support. During the recognition ceremony dubbed “Pasidungog: Garbo sa Dabaw 2019” on March 15, the city government cited Therma South Inc. and Davao Light and Power Co. as the top real property and top business taxpayers, respectively, for last year. Hedcor, AboitizPower’s run-of-river hydropower arm, was also acknowledged as part of the city’s top 10 real-property taxpayers.

‘READER’S DIGEST’ MOST TRUSTED BRANDS IN PHL ANNUAL SURVEY RESULTS ON APRIL 2

ON April 2, 2019, the Reader’s Digest Trusted Brands Awards will be presented in Marco Polo Ortigas, Manila, from 6 p.m. to 11 p.m. Marketers and captains of the industry will gather to celebrate the strong corporate and personal brands in the Philippine market, brands that not only engage with their customers but also are consistent, honest and deliver on their promise. The 2019 Reader’s Digest Trusted Brands Awards once again confirm that in a business environment, trust is more precious than ever. The independently conducted Trusted Brands survey appears exclusively in the April 2019 issue of the Philippine edition of the Reader’s Digest. It was conducted by leading research company Catalyst which surveyed 1,500 everyday Filipino consumers, asking each to identify which recognizable product and service brands they trust the most.

originally part of their plan. But when a retail space opened in the new wing of that mall, he knew it could be their chance to reach out to more customers, and let them have more than just a single cup of their ice cream served in homemade cones. Their ice cream is made from fresh milk produced by their own dairy farm. “I wanted to let as many people taste our products so we made this store our showroom

MUTUAL FUNDS

where everyone can try our ice-cream flavors,” he said. “But of course, running a retail store is different from business-to-business selling of products.” Magsaysay knew then they ought to integrate digital tools to bolster the operations of their store, especially with the increasing number of patrons lining up every day to get their ice cream. Roderick L. Abad March 26, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 263.72 -3.01% 0.95% 2.34% 4.56% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6076 1.31% 10.92% 4.36% 11.58% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0968 -4.42% 1.3% 0.97% 4.97% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9368 -1.2% N.A. N.A. 5.2% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8644 N.A. N.A. N.A. 5.32% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4735 -1.51% 1.54% 1.85% 3.84% MBG EQUITY INVESTMENT FUND, INC. -A 127.37 11.88% N.A. N.A. 9.37% ONE WEALTHY NATION FUND, INC. -A 0.872 -4.35% -3.82% N.A. 4.76% PAMI EQUITY INDEX FUND, INC. -A 51.7619 -1.5% 1.66% N.A. 5.2% PHILAM STRATEGIC GROWTH FUND, INC. -A 541.76 -1.32% 0.79% 1.88% 5.25% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.305 -0.65% 2.45% 5.07% 4.07% PHILEQUITY FUND, INC. -A 38.5277 -0.75% 3.18% 4.26% 5.17% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0339 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2386 -1.04% 2.49% 4.3% 5.64% PHILIPPINE STOCK INDEX FUND CORP. -A 874.41 -0.92% 2.18% 4.27% 5.54% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9195 0.92% 1.23% N.A. 6.77% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2943 0.35% 2.58% 3.2% 5.8% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0055 -1.43% 2.18% N.A. 5.37% UNITED FUND, INC. -A 3.6872 1.02% 4.33% 4.23% 5.32% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 116.9546 -0.56% 3.24% 5.35% 5.6% ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0043 -9.25% 6.22% 1.69% 8.09% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2593 -1.59% N.A. N.A. 13.95% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7134 -2.9% -0.72% -0.86% 3.77% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3048 -1.89% 1.04% 1.23% 4.33% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6355 -0.57% -0.45% -0.73% 3.6% GREPALIFE BALANCED FUND CORPORATION -A 1.3481 -2.94% N.A. N.A. 3.36% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9089 0.33% 1.12% 1.9% 3.57% PAMI HORIZON FUND, INC. -A 3.6488 -1.87% -0.25% 0.94% 3.39% PHILAM FUND, INC. -A 16.5013 -0.7% 0.05% 1.02% 3.73% SOLIDARITAS FUND, INC. -A 2.1415 -0.14% 1.38% 2.7% 3.34% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8333 0.8% 1.16% 2.1% 4.98% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.994 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9932 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9911 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9756 1% 1.14% N.A. 5.85% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03599 1.95% 0.41% 1.67% 2.1% PAMI ASIA BALANCED FUND, INC. -A $0.9911 -7.62% 3.6% 0.16% 5.86% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.6463 -1% 6.05% 2.67% 10.21% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0797 -1.23% N.A. N.A. 6.9% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 346.67 2.68% 2.09% 2.05% 0.96% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8776 0.57% -0.07% -0.29% 0.99% COCOLIFE FIXED INCOME FUND, INC. -A 3.001 5.31% 5.24% 5.25% 1.02% EKKLESIA MUTUAL FUND INC. -A 2.1576 2.43% 1.41% 1.82% 1.27% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2547 1.76% 0.48% 0.89% 2.05% GREPALIFE FIXED INCOME FUND CORP. -A P 1.5983 0.09% -0.73% 0.29% 2.17% PHILAM BOND FUND, INC. -A 3.9903 0.3% -0.38% 0.69% 1.8% PHILEQUITY PESO BOND FUND, INC. -A 3.5909 2.77% 1.02% 1.22% 2.1% SOLDIVO BOND FUND, INC. -A 0.915 0.92% -0.48% N.A. 2.51% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8627 3.53% 1.24% 1.74% 3.5% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5888 3.09% 0.74% 1.21% 3.18% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $453.14 2.46% 1.99% 2.93% 1.08% ALFM EURO BOND FUND, INC. -A Є215.9 1.57% 1.47% 1.62% 1.53% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1619 3.95% 1.56% 2.24% 3.21% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0251 1.21% 0.67% N.A. 1.21% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7102 -0.99% -1.14% 0.88% 1.18% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0631 1.58% -0.56% -2.16% 2.46% PHILAM DOLLAR BOND FUND, INC. -A $2.2489 3.09% 0.68% 2.84% 3.58% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0579322 1.93% 1.14% 1.74% 1.67% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9663 1.01% 0.11% 2.13% 3.28% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.13 3.41% 2.13% 1.74% 1.07% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0057 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1921 2.55% 0.99% 0.7% 0.86% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2306 3.13% 2.44% 1.8% 0.95% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0218 2.06% N.A. N.A. 0.58% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

Editor: Efleda P. Campos

PSE STOCK QUOTATIONS

March 26, 2019

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

ASIA UNITED 58.1 59 58.1 58.1 58.1 58.1 50 2905 BDO UNIBANK 131.8 132 131 132.5 131 132 2693370 355610812 -112803798 BANK PH ISLANDS 87.5 87.9 86.9 88.45 86.9 87.9 1447040 127501855 -38232248.5 CHINABANK 27.3 27.4 27.7 27.7 27 27.4 127500 3477510 -383025 EAST WEST BANK 12.44 12.48 12.48 12.52 12.4 12.44 263000 3276870 -707298 METROBANK 79.55 79.9 82 82.05 79.55 79.55 3376250 270819291 -75663031 PB BANK 13.84 13.96 13.86 13.86 13.86 13.86 27400 379764 -44352 PBCOM 21.55 22.9 21.5 22.9 21.5 22.9 2200 47580 -43000 PHIL NATL BANK 59.4 59.45 59.95 60.1 59.2 59.45 366110 21803314 8573615.5 PSBANK 58.45 58.95 58.45 58.95 58.45 58.95 1300 76511 RCBC 26.45 26.5 26.45 26.75 26.45 26.45 262300 6959860 -1268545 SECURITY BANK 172.5 172.7 165 173 165 172.7 1081400 184786096 -48131153 UNION BANK 61.9 62.2 61.2 62.3 60.6 62.2 14480 892588 -412504 BRIGHT KINDLE 1.34 1.37 1.34 1.34 1.34 1.34 20000 26800 BDO LEASING 2.27 2.31 2.3 2.31 2.3 2.31 8000 18420 COL FINANCIAL 19.08 19.16 19.02 19.16 19.02 19.16 110500 2107818 FERRONOUX HLDG 4.18 4.28 4.26 4.47 4.16 4.28 94000 396120 IREMIT 1.44 1.48 1.42 1.48 1.42 1.48 7000 10060 MEDCO HLDG 0.455 0.465 0.455 0.455 0.45 0.45 70000 31550 MANULIFE 800.5 830 815 815 800 800 240 193500 32000 NTL REINSURANCE 0.95 0.96 0.98 0.98 0.96 0.96 13000 12700 PHIL STOCK EXCH 183.7 184 184.2 184.2 184 184 290 53378 SUN LIFE 1820 1840 1820 1820 1820 1820 510 928200 VANTAGE 1.14 1.17 1.15 1.16 1.15 1.16 109000 126390 INDUSTRIAL ALSONS CONS 1.42 1.44 1.42 1.42 1.42 1.42 20000 28400 ABOITIZ POWER 35.1 35.4 34.5 35.4 34.5 35.4 1363800 48015595 13584515 BASIC ENERGY 0.24 0.242 0.243 0.243 0.24 0.242 310000 74480 FIRST GEN 21.5 21.65 21.7 21.7 21.3 21.65 704700 15167660 3226395 FIRST PHIL HLDG 76.2 76.6 76 78.6 76 76.5 332200 25667514 -1104893.5 MERALCO 374 374.4 374.2 377.8 373.8 374 365860 136999712 68141842 MANILA WATER 25.3 25.35 25.75 25.75 25.15 25.3 395000 10010715 7010815 PETRON 6.65 6.66 6.69 6.69 6.57 6.65 7178900 47539591 1643258 PETROENERGY 3.75 3.86 3.74 3.85 3.74 3.85 331000 1273800 PHINMA ENERGY 1.32 1.33 1.33 1.34 1.32 1.33 13444000 17952320 -7410330 PHX PETROLEUM 12.18 12.26 12.28 12.28 12.2 12.26 10600 129794 PILIPINAS SHELL 49.9 49.95 49.35 50.1 49.35 49.95 383000 19135995 -2798405 SPC POWER 6.4 6.46 6.41 6.47 6.4 6.46 19300 124599 AGRINURTURE 14.04 14.24 14.38 14.38 14.02 14.24 572200 8147194 -206904 CNTRL AZUCARERA 15.2 15.9 15.88 15.88 15.88 15.88 100 1588 CENTURY FOOD 15.6 15.98 15.5 16 15.5 15.6 118100 1865874 1733616 DEL MONTE 6.18 6.26 6.18 6.27 6.18 6.26 4700 29093 DNL INDUS 11.38 11.46 11.36 11.5 11.3 11.46 892200 10201420 2091372 EMPERADOR 7.4 7.45 7.35 7.51 7.3 7.4 170400 1250296 -903883 SMC FOODANDBEV 103 104 104 104 102.1 104 87530 9038547 -3643418 ALLIANCE SELECT 1.03 1.04 1.04 1.05 1.02 1.04 1590000 1641640 30140 GINEBRA 27.15 27.4 27.15 27.15 27.15 27.15 17400 472410 JOLLIBEE 313.4 313.6 313 315 312.8 313.6 285920 89737984 -34764542 MACAY HLDG 10.36 10.5 10.8 10.8 10.5 10.5 30100 317784 MAXS GROUP 12.3 12.34 11.98 12.5 11.98 12.36 613100 7575012 -2571904 MG HLDG 0.193 0.201 0.194 0.194 0.192 0.193 380000 73410 PEPSI COLA 1.4 1.41 1.4 1.41 1.38 1.41 6040000 8462640 -2380370 SHAKEYS PIZZA 11.92 12.02 12 12 11.88 11.92 90800 1081094 522524 ROXAS AND CO 1.79 1.8 1.8 1.81 1.8 1.8 105000 189580 RFM CORP 4.68 4.74 4.67 4.68 4.67 4.68 3000 14020 -4670 SWIFT FOODS 0.128 0.13 0.128 0.128 0.128 0.128 140000 17920 UNIV ROBINA 148 148.1 146.1 148 145.8 148 737400 108614825 18287723 VITARICH 1.62 1.63 1.64 1.65 1.62 1.63 1198000 1960270 -751419.9996 VICTORIAS 2.58 2.6 2.6 2.6 2.58 2.58 11000 28580 CONCRETE A 65.55 71.9 71.9 71.9 71.9 71.9 10 719 CEMEX HLDG 2.82 2.83 2.71 2.82 2.66 2.82 17011000 46880410 -1924250 DAVINCI CAPITAL 5.74 5.8 5.74 5.8 5.74 5.8 81700 469618 EAGLE CEMENT 15.98 16 15.82 16.02 15.82 16 2697500 43135878 36097892 EEI CORP 9.09 9.1 9.05 9.32 9.05 9.1 1889300 17397372 -1403220 HOLCIM 9.65 9.69 9.7 9.79 9.62 9.65 2357200 22,765,236( 12,578,477.9999) MEGAWIDE 20.95 21 20.85 21 20.75 21 1359800 28491170 13436690 PHINMA 8.01 8.92 8.81 8.94 8.81 8.94 6100 54404 TKC METALS 0.98 0.99 0.98 1 0.96 1 103000 100700 VULCAN INDL 1.29 1.3 1.26 1.29 1.24 1.29 1555000 1972110 CHEMPHIL 109.8 119 114.8 114.8 109.8 109.8 1560 171510 1148 CROWN ASIA 1.87 1.89 1.88 1.88 1.87 1.88 40000 75160 18800 LMG CHEMICALS 4.05 4.08 4.06 4.06 4.05 4.05 133000 538980 PRYCE CORP 5.81 5.95 5.8 5.84 5.8 5.81 21400 124264 -116130 CONCEPCION 42.05 43 43 43 43 43 1100 47300 -47300 GREENERGY 2.3 2.31 2.36 2.37 2.27 2.31 6084000 14113160 226330 INTEGRATED MICR 13.2 13.24 13.3 13.46 13.1 13.2 619700 8230714 -1206592 IONICS 1.62 1.63 1.7 1.7 1.63 1.63 237000 387310 SFA SEMICON 1.34 1.35 1.26 1.34 1.26 1.34 101000 133720 CIRTEK HLDG 29.25 29.8 29.75 29.8 29.1 29.8 205600 6112805 -1445915

HOLDING & FRIMS

ABACORE CAPITAL 0.67 0.68 0.66 0.68 0.62 0.68 36012000 23875810 ASIABEST GROUP 20.5 20.55 20.4 20.8 20.1 20.5 54300 1101230 AYALA CORP 926.5 927 929 930 924 927 207430 192350190 ABOITIZ EQUITY 56.2 58 58.4 58.4 56.2 56.2 843420 47880582 ALLIANCE GLOBAL 15.72 15.74 15.48 15.74 15.42 15.72 6927800 108439434 ANSCOR 6.5 6.75 6.5 6.5 6.5 6.5 5870600 38158900 ANGLO PHIL HLDG 0.73 0.76 0.74 0.76 0.74 0.76 35000 25920 ATN HLDG A 1.36 1.37 1.36 1.38 1.36 1.37 2318000 3176240 ATN HLDG B 1.37 1.39 1.37 1.39 1.37 1.39 168000 232310 COSCO CAPITAL 7.5 7.55 7.48 7.56 7.45 7.5 2278800 17116315 DMCI HLDG 12.12 12.2 11.92 12.26 11.92 12.12 1731600 21000580 FILINVEST DEV 15.92 16.1 15.48 16.1 15.4 16.1 6127900 97762068 FJ PRINCE A 4.14 4.82 4.8 4.88 4.8 4.88 3000 14480 FORUM PACIFIC 0.222 0.239 0.239 0.239 0.224 0.225 1400000 322880 GT CAPITAL 1012 1018 1000 1018 999 1018 134720 136150012.5 HOUSE OF INV 6.26 6.47 6.47 6.51 6.47 6.48 7400 47943 JG SUMMIT 60.6 60.9 61.7 62.85 60.45 60.6 4798060 291771429.5 LODESTAR 0.53 0.55 0.56 0.56 0.52 0.53 1080000 568030 LOPEZ HLDG 5.35 5.37 5.27 5.39 5.24 5.37 3543900 18897140 LT GROUP 16.52 16.56 16 16.64 16 16.52 5071200 83227750 MABUHAY HLDG 0.56 0.57 0.56 0.57 0.56 0.57 35000 19660 METRO PAC INV 4.86 4.87 4.9 4.91 4.85 4.86 12348000 60115260 PACIFICA 0.038 0.039 0.039 0.039 0.038 0.038 14800000 564700 PRIME ORION 3.12 3.13 3.13 3.14 3.08 3.13 551000 1720100 REPUBLIC GLASS 2.55 2.67 2.55 2.55 2.55 2.55 3000 7650 SOLID GROUP 1.33 1.34 1.35 1.36 1.34 1.34 59000 79160 SYNERGY GRID 443 448 448 448 448 448 20 8960 SM INVESTMENTS 949 950 956 956 931.5 950 118770 112601045 SAN MIGUEL CORP 175 175.2 176 176 172 175 361970 63066516 SOC RESOURCES 0.75 0.79 0.75 0.75 0.75 0.75 4000 3000 TOP FRONTIER 275 280.8 282 282 275 281 2730 764874 WELLEX INDUS 0.24 0.245 0.24 0.24 0.24 0.24 300000 72000 ZEUS HLDG 0.37 0.375 0.385 0.39 0.37 0.37 26940000 10188900 PROPERTY ARTHALAND CORP 0.83 0.84 0.82 0.84 0.82 0.84 3215000 2661820 ANCHOR LAND 9.9 10.92 10.92 10.92 10.92 10.92 6600 72072 AYALA LAND 43.7 43.75 43.25 43.7 43.25 43.7 12432300 541972185 ARANETA PROP 1.95 2 1.95 1.95 1.95 1.95 2000 3900 BELLE CORP 2.38 2.39 2.4 2.41 2.36 2.39 795000 1897400 A BROWN 0.77 0.78 0.77 0.79 0.77 0.79 494000 384400 CITYLAND DEVT 0.91 0.93 0.91 0.93 0.91 0.93 13000 11850 CROWN EQUITIES 0.239 0.24 0.242 0.242 0.24 0.24 8790000 2110100 CEBU HLDG 6.43 6.6 6.22 6.63 6 6.6 63800 407511 CEB LANDMASTERS 4.39 4.4 4.4 4.4 4.36 4.4 967000 4239860 CENTURY PROP 0.51 0.52 0.52 0.53 0.51 0.52 11676000 6060450 CYBER BAY 0.385 0.39 0.385 0.385 0.385 0.385 1200000 462000 DOUBLEDRAGON 22.1 22.2 21.15 22.5 21.1 22.2 1494100 32966615 DM WENCESLAO 11.24 11.26 10.96 11.3 10.96 11.26 689800 7703342 EMPIRE EAST 0.495 0.5 0.5 0.5 0.495 0.5 1440000 719800 EVER GOTESCO 0.126 0.128 0.128 0.128 0.126 0.126 510000 65240 FILINVEST LAND 1.53 1.54 1.54 1.55 1.52 1.54 4465000 6842540 GLOBAL ESTATE 1.22 1.23 1.22 1.23 1.22 1.22 491000 601020 8990 HLDG 12.78 12.8 12.1 12.78 12.1 12.78 5494800 68453328 PHIL INFRADEV 1.89 1.9 1.88 1.9 1.86 1.89 1489000 2792390 CITY AND LAND 0.84 0.85 0.86 0.86 0.85 0.85 3000 2570 MEGAWORLD 5.57 5.58 5.57 5.62 5.56 5.57 7278200 40618716 MRC ALLIED 0.375 0.38 0.37 0.38 0.37 0.38 7740000 2890850 PHIL ESTATES 0.445 0.45 0.45 0.45 0.445 0.445 180000 80600 PRIMEX CORP 2.79 2.8 2.8 2.8 2.79 2.79 23000 64370 ROBINSONS LAND 23.5 23.75 23.2 23.9 23.2 23.5 7348300 173029145 PHIL REALTY 0.45 0.46 0.45 0.46 0.45 0.46 20000 9100 ROCKWELL 2.05 2.06 2.04 2.05 2.01 2.05 78000 159620 SHANG PROP 3.09 3.12 3.15 3.15 3.09 3.12 13000 40710 STA LUCIA LAND 1.6 1.63 1.6 1.64 1.6 1.6 2544000 4111550 SM PRIME HLDG 39.1 39.4 39.15 39.4 38.8 39.4 5588000 219350570 STARMALLS 6.8 6.9 6.74 7 6.73 6.85 333400 2271565 SUNTRUST HOME 0.75 0.79 0.8 0.8 0.79 0.79 16000 12650 PTFC REDEV CORP 45.05 47.9 46.9 47.9 46.9 47.9 400 18880 VISTA LAND 7.3 7.37 7.32 7.4 7.3 7.3 2929000 21506381 SERVICES ABS CBN 20.35 20.4 20.5 20.5 20.35 20.4 28900 590375 GMA NETWORK 5.72 5.73 5.72 5.74 5.72 5.73 265200 1518621 MANILA BULLETIN 0.58 0.59 0.56 0.59 0.55 0.59 1992000 1142790 GLOBE TELECOM 1937 1970 1972 1979 1937 1937 14330 27982200 PLDT 1152 1160 1160 1165 1152 1160 132395 153503860 APOLLO GLOBAL 0.043 0.044 0.044 0.045 0.042 0.044 23000000 996500 DFNN INC 6.83 6.9 6.95 6.95 6.84 6.9 56200 386471 IMPERIAL 1.92 2.01 1.91 2.05 1.91 1.93 27000 53670 ISLAND INFO 0.123 0.124 0.126 0.127 0.123 0.123 2700000 334780 ISM COMM 5.37 5.41 5.35 5.55 5.31 5.41 1680400 9126968 JACKSTONES 3.07 3.22 3.09 3.09 3.06 3.07 82000 251820 NOW CORP 2.5 2.51 2.59 2.59 2.44 2.5 4600000 11423740 TRANSPACIFIC BR 0.41 0.415 0.415 0.415 0.41 0.41 4630000 1903500 PHILWEB 2.65 2.66 2.65 2.66 2.62 2.65 156000 413940 2GO GROUP 12.8 12.82 12.82 12.88 12.76 12.8 32800 420726 ASIAN TERMINALS 15.78 16.8 16.84 16.84 16.8 16.8 5900 99248 CEBU AIR 81 81.5 81 81.8 80.95 81 41740 3388812 CHELSEA 5.8 5.84 5.8 5.9 5.77 5.8 767200 4452343 INTL CONTAINER 121.8 122 122 122.5 121.2 122 2703910 330337605 LBC EXPRESS 15.38 15.76 15.36 15.36 15.36 15.36 2300 35328 LORENZO SHIPPNG 0.89 0.9 0.89 0.9 0.89 0.9 21000 18700 MACROASIA 20.2 20.4 20.2 20.8 20.2 20.4 301700 6199690 METROALLIANCE A 1.72 1.8 1.78 1.84 1.7 1.8 233000 405660 PAL HLDG 10.26 10.3 10.4 10.4 10.18 10.3 9300 95914 HARBOR STAR 2.89 2.9 2.87 2.92 2.83 2.9 476000 1371670 ACESITE HOTEL 1.23 1.33 1.33 1.33 1.23 1.23 161000 205520 BOULEVARD HLDG 0.073 0.074 0.076 0.076 0.073 0.074 51350000 3805190 WATERFRONT 0.65 0.66 0.66 0.67 0.65 0.66 483000 317910 FAR EASTERN U 890.5 903 890.5 890.5 890.5 890.5 50 44525 IPEOPLE 10.7 10.8 10.7 10.7 10.7 10.7 1300 13910 STI HLDG 0.69 0.7 0.71 0.71 0.69 0.69 366000 256060 BERJAYA 2.78 2.81 2.78 2.88 2.78 2.81 446000 1254870 BLOOMBERRY 12.06 12.1 11.8 12.2 11.7 12.06 5796900 69937700 PACIFIC ONLINE 10.06 10.1 10.16 10.2 9.98 10.06 160200 1613364 LEISURE AND RES 3.35 3.36 3.31 3.37 3.3 3.36 162000 537290 MANILA JOCKEY 4.71 4.73 4.73 4.73 4.71 4.73 21000 99160 PH RESORTS GRP 4.72 4.75 4.76 4.78 4.72 4.75 79000 374990 PREMIUM LEISURE 0.89 0.9 0.9 0.91 0.89 0.9 1379000 1241340 TRAVELLERS 5.63 5.65 5.6 5.64 5.6 5.63 1953200 10990316 METRO RETAIL 3.16 3.19 3.21 3.25 3.15 3.2 1317000 4197280 PUREGOLD 48.2 48.5 48 48.5 48 48.5 799900 38628270 ROBINSONS RTL 78.5 78.9 80 80 78 78.5 666050 52201628.5 PHIL SEVEN CORP 124.5 125 124.5 125 124.5 125 610 76214 SSI GROUP 2.38 2.39 2.41 2.41 2.37 2.38 1870000 4460460 WILCON DEPOT 15.48 15.6 15.4 15.7 15.32 15.6 790000 12220594 APC GROUP 0.405 0.425 0.41 0.425 0.405 0.425 260000 106250 EASYCALL 12.38 12.4 12 12.6 12 12.38 180500 2220732 GOLDEN BRIA 373 380 378 383 378 380 780 296566 PRMIERE HORIZON 1.15 1.16 1.1 1.16 1.09 1.16 107743000 121819270 SBS PHIL CORP 8.5 8.78 8.4 8.78 8.4 8.5 17000 147410 MINING & OIL APEX MINING 1.44 1.45 1.43 1.45 1.43 1.44 895000 1292710 ABRA MINING 0.0021 0.0022 0.0021 0.0021 0.0021 0.0021 1000000 2100 COAL ASIA HLDG 0.295 0.31 0.3 0.3 0.295 0.295 90000 26750 CENTURY PEAK 2.4 2.41 2.38 2.41 2.35 2.41 1408000 3362810 DIZON MINES 7.82 7.89 7.85 7.91 7.82 7.82 300 2358 FERRONICKEL 1.5 1.51 1.49 1.5 1.48 1.5 3322000 4932780 GEOGRACE 0.242 0.246 0.239 0.255 0.239 0.242 1880000 461390 LEPANTO A 0.118 0.122 0.118 0.119 0.118 0.118 2910000 343390 MANILA MINING A 0.008 0.0083 0.0081 0.0081 0.008 0.008 12000000 96200 MANILA MINING B 0.008 0.0084 0.0081 0.0081 0.0081 0.0081 1000000 8100 MARCVENTURES 1.09 1.11 1.09 1.1 1.09 1.1 116000 126560 NIHAO 1.03 1.06 1.06 1.1 1.02 1.06 317000 339630 NICKEL ASIA 2.55 2.58 2.6 2.6 2.52 2.55 2501000 6428700 OMICO CORP 0.58 0.62 0.57 0.58 0.57 0.58 271000 157160 ORNTL PENINSULA 0.94 0.96 0.95 0.96 0.95 0.95 269000 255570 PX MINING 3.71 3.75 3.67 3.71 3.65 3.71 500000 1832160 SEMIRARA MINING 22.7 23.2 22 23.2 22 23.2 3118500 71269935 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 16500000 198000 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 1300000 15600 PHILODRILL 0.011 0.012 0.012 0.012 0.012 0.012 1600000 19200 PHINMA PETRO 3.14 3.28 3.14 3.14 3.14 3.14 1000 3140 PXP ENERGY 13.96 14 14.08 14.1 13.96 13.96 561500 7868862

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

95 465.4 100 97 975 100.7 450.8 480 880.5 886 0.98 99.5 985 998 1.31 75 76.2 71.8 74.5 72.55 72

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

19.9 5.42

1.84

-67200 -133688030 89020 8690 -107604 -884390 270400 13008240 7856 -690000 241060 4702038 20 15007771 -65279390 4080 3260 41167135 2070 -501353 -6637370 26400445 -356400 3475 42550 232359.9999 -41000 -60890 14160 42100 -419912.5 17400 110609391 504654.9997 -150800 760 29600 -5940 18880 -1474082 9074 6680 19020 -229970 -8451204 635650 -13269435 -28519122.5 62487 1473900 -955704 286 3616749.9998

-217940 -235000 -178100 12400 -675930 -832730 35552870 -938640

96 474.6 100.4 98.3 980 104.3 475.8 494.8 930 900 0.99 100 998 1020 1.78 76 76.5 73.95 74.8 73 74.35

96 474.6 100 98.4 975 100.7 451 480 880.5 891 0.98 100 998 998 1.7 75.55 76.5 71.8 74.8 72.55 74.45

96 474.6 100 98.4 980 100.7 451 480 929 900 0.98 100.1 998 998 1.71 75.55 76.5 71.8 74.8 73 74.45

96 474.6 100 98.3 975 100.6 450.8 480 880 882 0.98 100 998 998 1.7 75.5 76.5 71.8 74.8 72.55 71.6

96 474.6 100 98.3 980 100.6 450.8 480 929 900 0.98 100 998 998 1.71 75.5 76.5 71.8 74.8 73 72

70 20 6330 260 3050 3050 440 100 120 80 150000 16930 10 10000 7000 1500 200 1800 200 350 1520

6720 9492 633000 25559 2988500 306839 198360 48000 107690 71010 147000 1693080 9980 9980000 11910 113275 15300 129240 14960 25491.5 109274

12240 -

20.05 5.6

20.05 5.65

20.05 5.6

10000 128200

200500 717930

WARRANTS LR WARRANT

243090 103830.0001 -41718730 -16958139 45653460 203450 176129.9999 -2279843 3645200 1629638 12879755 -127570214 -1748817 8844938 -18071960 62600 -8960 -44099205 -28149356 -175642 -307050

1.89

1.84

1.89

3000

5620

ITALPINAS 5.1 XURPAS 1.35

5.12 1.36

5.06 1.38

5.2 1.39

5.06 1.34

5.1 1.36

204300 6288000

1042305 8544570

-3752140

FIRST METRO ETF

117.1

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 117

117

117.1

116.4

117.1

3900

455525

21078

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

The World

Tense calm in Gaza after Israel, Hamas exchange heavy fire

ERUSALEM—A tense quiet took hold on Tuesday morning after a night of heavy fire as Israeli aircraft bombed targets across the Gaza Strip and Gaza militants fired rockets into Israel in what threatened to devolve into a major conflict, just two weeks before the Israeli election. S chools in southern Israel were canceled for the day and the military imposed restrictions on public gatherings near the Gaza border, after dozens of rockets were fired toward communities in the area, including one that struck a house in the town of Sderot. The Israeli air force pounded militant sites of Gaza’s Hamas rulers and the smaller Islamic Jihad group. The targets included a multistory building in Gaza City that Israel said had served as a Hamas military intelligence headquarters and the office of Hamas leader Ismail Haniyeh. Gaza’s Health Ministry said seven Palestinians were wounded in the air strikes. The cross-border fighting was triggered by a surprise rocket fired early Monday from Gaza that slammed into a house in central Israel and wounded seven people. The Israeli military said it was a selfmanufactured rocket with a range of 120 kilometers (75 miles), making it one of the deepest strikes ever carried out by Hamas. The military mobilized two armor and infantry brigades and drafted some reserve forces before striking back at militant sites in Gaza. Gaza’s Hamas rulers announced later in the day that Egyptian mediators had brokered a cease -fire but the firing continued overnight before calm appeared to return early Tuesday. Monday’s rocket attack prompted Prime Minister Benjamin Netanyahu to cut short a visit to Washington and return home. He promised a tough response, setting the stage for perhaps the most serious conflict since a war in 2014. But with no fatalities reported on either side yet, and the quiet holding for the moment, it still seemed possible to step back from the brink once again. Two weeks ago, rockets were fired from Gaza toward Israel’s densely populated commercial capital of Tel Aviv, and

the Israeli military struck back. Gaza’s Hamas leaders said the rocket was fired accidentally and the fighting quickly subsided. Israel and Hamas have fought three wars in the last decade. Although neither side appears to have an interest in another war, fighting could easily spin out of control. The 2014 conflict lasted 50 days and ended with over 2,000 Palestinian deaths, including hundreds of civilians, and 73 killed on the Israeli side. Netanyahu is scheduled to land later on Tuesday and head directly to consultations at military headquarters in Tel Aviv. He faces the difficult task of delivering a tough blow to Hamas while avoiding protracted fighting that could work against him on election day. Netanyahu came under heavy criticism from allies and opponents for what they say has been an ineffective policy co nt a i n i n g G a z a m i l i t a nt s. He h a s conduc ted indirec t cease -fire talks through Egyptian mediators in recent months, and even allowed the delivery of millions of dollars of Qatari aid to Hamas to ease harsh conditions in Gaza. Hamas is facing perhaps its toughest domestic test since seizing control of Gaza from the rival Palestinian Authority 12 years ago. An Israel-Egyptian blockade, imposed to we a ke n H a m a s, co m b i n e d w i t h sanctions by the Palestinian Authority and mismanagement by the Hamas government, have all fueled an economic crisis that has left Gaza with an unemployment rate above 50 percent. Hamas has been leading weekly protests along the Israeli border for the past year in hopes of easing the b l o c k a d e, b u t t h e d e m o n s t rat i o n s, in which some 190 people have been killed by Israeli fire, have done little to improve conditions. Last week, hundreds of Gazans protested the dire conditions, a rare expression of public discontent against the authoritarian government. Hamas responded with a violent crackdown, beating and arresting dozens of demonstrators and drawing rare public criticism. AP

BusinessMirror

of MPs, even on her own side, the defeat came despite last-minute promises from her government that it would implement the plan itself if lawmakers voted against it. “It is disappointing to see this amendment pass,” the Brexit department said in an e-mailed statement after the vote. The result “upends the balance between our democratic institutions and sets a dangerous, unpredictable precedent for the future.” Lawmakers will need to consider whether the options they support will require a delay beyond the current exit date of May 22, the statement said. “While it is now up to Parliament to set out next steps in respect of this amendment, the government will continue to call for realism—any options considered must be deliverable in negotiations with the EU.” The decision might lead to an unblocking of Brexit if Parliament can send a clear signal about what it wants, though there’s a risk of it deepening the deadlock. It could also scare Brexiteers who have so far refused to vote for May’s deal into backing it, for fear

ARIS—Chinese President Xi Jinping received the full honors of a formal reception during a state visit to France on Monday that included attending the signing of a multibilliondollar deal between European aircraft maker Airbus to China. French President Emmanuel Macron said X i ’s official visit was a n “e xcel lent sig na l ” of the strength and reliability of relations between China and France. Appearing with the Chinese leader at the presidential Elysee Palace, Macron said the two countries want to build a “strong Euro- Chinese partnership, based on clear, strict and ambitious rules.” Xi, who plans to meet with German Chancellor Angela Merkel and European Commission President Jean-Claude Juncker in Paris on Tuesday, said China “attaches great importance” to its relations with Europe. European leaders want to increase trade with China, albeit on European terms, amid trade tensions between the United States and both China and the European Union. The Airbus sale Xi saw finalized involves the sale of 300 airplanes. The China Aviation Supplies Holding Co. has ordered 290 Airbus A320 and 10 Airbus A350, according to a statement from the French presidency. The price was not specified. The sale is estimated to be worth €30 billion ($34 billion) at list prices,

although buyers often secure discounts. “We are honored to support the growth of China’s civil aviation with our leading aircraft families,” said Guillaume Faury, president of Airbus Commercial Aircraft. “Our expanding footprint in China demonstrates our lasting confidence in the Chinese market and our long-term commitment to China and our partners.” Other major business deals on renewable energy and the food industry were signed on Monday, in addition to bilateral agreements. Both leaders agreed on a protocol allowing the French exports of chicken meat to China. The country opened its market to French beef products following Macron’s January 2018 state visit to China. French energ y company EDF and the China Energ y Investment Cor p. signed a deal worth €1 billion ($1.1 billion) to deliver two offshore wind farms in Chinese waters. EDF Chief Executive JeanBernard Levy said the deal “consolidates EDF’s foothold in China.” Macron said during his app e a r a n c e a l o n g s i d e X i t h at

of getting something they view as worse. In any event, the clock is continuing to tick down. The EU has ruled that if Parliament doesn’t approve May’s deal by Friday, the UK has until April 12 to come up with a case for a much longer delay to Brexit, or leave immediately with no agreement. While Parliament was forcing its way into the driving seat, those who were supposed to be controlling the process remained passive. After reports at the weekend that May’s cabinet would tell her it was time for her to go, the subject of her departure wasn’t even raised in its meeting on Monday, according to people present. Neither was there a decision about whether to try to put the prime minister’s deal to Parliament again. According to one person at the meeting, the main agreement was that the alternatives to getting her plan through were grim. In the House of Commons, May set out the choices as she saw them. “Unless this House agrees to it, no-deal will not happen,” she said. “No Brexit must not happen; and a slow Brexit that extends Article 50 beyond May

22, forces the British people to take part in European elections, and gives up control of any of our borders, laws, money or trade, is not a Brexit that will bring the British people together.” Later, in answer to questions, she raised two more options: “Either a second referendum or an election.” Both are unattractive to many MPs. There were signs that her warnings were working with some supporters of a harder Brexit. Jacob Rees-Mogg, leader of the hardline European Research Group of Tory MPs, said he would be prepared to back her deal if Northern Ireland’s Democratic Unionist Party (DUP) gave its blessing. But his comments, made to a meeting of the group in Westminster on Monday evening according to a person in the room, depend on a big shift by the DUP. The party’s Brexit spokesman, Sammy Wilson, was scathing to the prime minister in the Commons, accusing her of using Northern Ireland as an “excuse” and the focus of “scare tactics” to get her deal through. Bloomberg News

THAI PARTIES JOSTLE FOR POWER AFTER 1ST ELECTION SINCE COUP

ANGKOK—The t wo top par ties began angling for the upper hand in forming a new government in Thailand on Monday after partial results showed no group won a majority of seats in the country’s first national election since a 2014 military coup. One outcome: many accusations of cheating in Sunday’s vote, in efforts to discredit the other side’s claim to leadership and perhaps get some winners disqualified. The allegations highlight continuing deep divisions in Thailand, which has been wracked by political instability for nearly two decades. The junta-appointed Election Commission announced the results of

350 constituency races but said full vote counts, which are needed to allocate 150 other seats in the House of Representatives, won’t be available until on Friday after apparent counting problems. The partial results showed the military-backed Palang Pracharath party won the most popular votes nationwide. But under a complicated new electoral system put in place by the junta, the anti-military Pheu Thai party is likely to win the highest number of seats in the House. Each party insists its advantage gives it the right to try to form a government, though neither holds a majority in terms of votes or seats. And because an unelected 250-member Senate appointed by the junta will also vote for prime minister, a party must

China’s Xi sees honors, Airbus deal in state visit to France

PARLIAMENT TAKES OVER AS MAY LOSES CONTROL OF BREXIT PROCESS HE UK Parliament seized control of the Brexit process from Prime Minister Theresa May and will now seek to decide how Britain exits the European Union. In a vote late Monday, the House o f Co m m o n s s p l i t 3 2 9 t o 3 0 2 t o schedule votes on a series of alternative strategies, potentially including a second referendum, keeping the UK in the bloc’s customs union, leaving without a deal and even canceling Brexit altogether. Three ministers resigned to back the plan, which sets up the possibility that MPs could force the beleaguered premier to implement their choice. The pound rose. “It’s essential we should be able to look at all the serious options, not wild unicorns, but things we could actually do to carry this process forward,” former Tory Minister Oliver Letwin, who proposed the plan, told Parliament. “We should allow ourselves a couple of days to do what should have been done over a couple of years.” In a sign of how far May has lost the trust

Wednesday, March 27, 2019

win a combined 376 votes to assure victory. That vote will likely take place sometime in May and give Palang

Pracharath’s candidate, current junta Prime Minister Prayuth Chan-ocha, a considerable advantage. AP

FRENCH President Emmanuel Macron (second from right), his wife Brigitte, (right), welcome Chinese President Xi Jinping (second from left), and his wife Peng Liyuan (left), prior to a state dinner at the Elysee Palace, in Paris on Monday, March 25. Xi is on a three-day state visit in France where he is expected to sign a series of bilateral and economic deals on energy, the food industry, transport and other sectors. AP/THIBAULT CAMUS

China and France share views on the importance of combating climate change, with green investments abroad making up part of the strateg y. Earlier in the day, the French leader welcomed Xi and his wife, Peng Liuan, at the Arc de Triomphe monument in Paris. The French National Guard played the country’s anthems. Both leaders laid a wreath at the Unknown Soldier from World War I whose tomb is under the monument. On Monday night, the Chinese president was honored with a state dinner at the Elysee Palace. The guests included French actor Alain

Delon, Michelin-star red chef Alain Ducasse, French-Chinese painter Yan Pei-Ming and Chinese actress Gong Li. X i a nd M a c ro n a l s o c o n firmed the opening of a branch of the Pompidou Center, a moder n ar t museum in Par is, in Shanghai this fall. X i star ted his tr ip to Europe l ast week , sig ning dea ls in Ita ly a nd head ing to Monaco on Sunday to ink more. He arr ived in Fra nce on Su nd ay evening where he had a pr ivate d inner w it h Macron in t he resor t tow n of Beau l ieu-su r-Mer on t he Frenc h R iv iera. AP

B4 Wednesday, March 27, 2019

Experience Songkran in Manila

N exciting Songkran experience awaits at Dusit Thani Manila in celebration of the Thai New Year on April 13. Cool off and refresh with watersplashing activity and entertainment, as we give life to the famous water festival in Thailand right at the heart of the Metro.

Make the party last with food, drinks and ear-catching music from our guest band and DJ. Get soaked and be armed with complimentary Songkran survival kit, which includes water gun and waterproof pouch to make the most out of the pool fun. Take advantage of the early-

bird rate at P1,500 net per person until March 31 only. Regular rate is at P1,800 net per person. In-house guests availing of the Songkran room package on April 13 get complimentary access to the Songkran Party. Stay with us in the most vibrant time of the year for the whole month of April and experience the beautiful Thai culture right at the heart of the Metro. Celebrate the Songkran with a special room package inclusive of the following: 20 percent off on Bed and Breakfast Plus (25 percent for Dusit Gold members); Daily breakfast for two; and Food credit worth P800 net at The Pantry per stay (for direct bookings, guests staying on April 13 get the 800 net worth of food credit as complimentary access to the Songkran Party at the poolside) For reservations, call 238-8888 local 8430, 8838.

A 24-hour gym in your neighborhood

NYTIME Fitness has captured the interest of many Filipino customers and has become one of the most prominent fitness clubs with its 24/7 access to its more than 90 branches in the country. Appealing to

its clients are its membership privileges and advantages, such as being open 24/7 that is ideal for people who are unable to commit to day workouts. Anytime Fitness prides itself on providing its members with

convenient fitness options, with its friendly and professional staff who are trained to assist you on achieving a healthier lifestyle. For membership and more information, contact at 0945-8061661.

AD FOUNDATION, LETRAN COLLEGE RENEWS ADSPEAK THIS YEAR

HE Advertising Foundation of the Philippines (Ad Foundation), the social-development institution and advocacy body of the advertising and marketing-communication industries, together with the educational development program committee, cochaired by renowned publicist and PR management consultant Ramon Osorio; and broadcast business executive Joselito G. Yabut, concurrently the corporate secretary of Kapisanan ng mga Brodkaster ng Pilipinas, recently revived the AdSpeak students’ convention on values advertising, a nonprofit and nonpartisan partnership project with Colegio San Juan de Letran and its mass communications

department. The revived project partnership has been undertaken by the foundation with board chairman Ruperto S. Nicdao, Jr. at the helm, assisted by foundation assistant board secretary and executive director Linda C. Gamboa. The AdSpeak students’ convention on values advertising is a whole-day event for intercollegiate students in advertising, marketing communications and its allied fields since 2006, with industry professional and former Letran faculty staff and EDC member Eleanor Agulto as its primemover. The industry-sponsored convention features special lectures and presentations by renowned and

highly respected experts from the multisectoral industry, including a presentation module on self-regulation; film showing of the industry’s biennial ARAW Values Awards winners; judging of entries from the intercollegiate students’ group on their values-oriented work in various categories by select and renowned industry personalities; and presentation of awards to the school or college winners in various competition categories. The project renewal coincides with the school’s quadricentennial anniversary this year. The AdSpeak 2019, with its theme “SuperCharged”, will be held at the college’s newly renovated Students Center auditorium on April 3. Students can avail themselves of early-bird rates to the convention through the Blank Canvas Advertising House officers. For more information and details, visit the AdSpeak web site, on Facebook and other social-media platforms. It is free of charge and on a First Come, First Served basis. Signing the memorandum of agreement on the two-year partnership are Nicdao and Colegio de San Juan de Letran Rector Rev. Fr. Clarence Victor F. Marquez, OP, with Gamboa (standing, left) and Letran Vice President for Students Affairs and assistant professor Cristina Castro Cabral, PhD, (third from left) as witnesses. Others who attended and graced the MOA signing are (second to the left) Ad Standards Council operations manager Maya O. Estrada as EDC consultant; Letran assistant professor Darwin C. Rundung, RPm, RPsy, dean of the College of Liberal Arts and Sciences; and mass communication department assistant head and faculty member-instructor Joline Satti S. Ombao.

MCGREGOR RETIRES! Sports

IF it sticks, Conor McGregor’s retirement ends a remarkable rise for the former plumber from Dublin who became the biggest star in MMA with his heavy fists and self-promotional acumen. AP

BusinessMirror

| Wednesday, March 27, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ROGER FEDERER is in his winning elements. AP

FEDERER FAST, FURIOUS IN MIAMI M

IAMI GARDENS, Florida—Roger Federer knew he had things going his way at the Miami Open when he hit three shots off his frame during a wild 17-stroke exchange and still won the point because Filip Krajinovic dumped a half volley into the net. Krajinovic quickly grabbed the ball and flipped it over the net as if continuing the rally, which drew cheers from the crowd and a smile from Federer. “We’re not robots,” Federer said. “I like when players show emotion like Filip did in that instant. It was a weird, strange, ridiculous point that I got very lucky to win somehow.” A little lucky and really good, Federer won, 7-5, 6-3, on Monday to reach the fourth round. He improved to 14-2 this year, signaling he’s a threat to win his fourth Miami title. He’ll next play No. 13 Daniil Medvedev, who won a battle of dominating serves against 6-foot-11 qualifier Reilly Opelka, 7-6 (5), 6-7 (5), 7-6 (0). There were no service breaks but plenty of aces—19 by Medvedev and 22 by Opelka. Among those departing in the women’s fourth round were Venus Williams and Indian Wells champion Bianca Andreescu. Williams lost to No. 2-seeded Simona Halep, 6-3, 6-3, and Andreescu retired with a right shoulder injury while trailing Anett Kontaveit 6-1, 2-0. Andreescu, who is tied for the Women’s Tennis Association (WTA) lead with 20 match victories this year, said she felt pain and tightness in the shoulder. “I’ve played so many matches,” the 18-year-old Canadian said. “I guess it’s just my body’s way of telling me it has had enough. The doctor said it’s nothing too serious, but the pain is there.” Andreescu said she will skip the tournament next week in Charleston, South Carolina, but plans to play the Fed Cup on April 20 and 21. She called a medical timeout after the first set to receive treatment, and received similar treatment during her thirdround victory over Angelique Kerber, who afterward told Andreescu she was the “biggest drama queen ever.” Andreescu defeated Kerber in the Indian Wells final on March 17 for her first career title. The injury ended Andreescu’s bid to become the fourth woman to win Indian Wells and Miami back to back. “I’m pretty upset,” she said. “But I really can’t complain, with what I’ve achieved.” Halep and Kontaveit were joined in the quarterfinals by Petra Kvitova, who faced only one break point and beat Caroline Garcia, 6-3, 6-3. Kvitova, a two-time Wimbledon champion, is ranked a career-high No. 2 and will rise to No. 1 if she wins the title. No. 1 Naomi Osaka lost in the third round. Kvitova’s match was interrupted by rain for more than 90 minutes, and she took advantage. “I had a quick nap, which was really helpful,” she said. Federer was only slightly delayed on his way to victory. Serving in the final game, he smacked aces on the first three points, and then hit another ace that skipped off the line to seal the victory—or so it was ruled. While awaiting a replay review, Federer and Krajinovic walked to the net and discussed the call. “He thought it was in,” Federer said. “I’m thinking, ‘Why did he think that?’ It was quite clearly out.” Federer was correct, and when the call was overturned, he gave Krajinovic a wave as if to say, “See you in a minute.” He needed only one more serve to complete the victory. AP

In a post on his verified Twitter account, the former UFC featherweight and lightweight champion said: “I’ve decided to retire from the sport formally known as ‘Mixed Martial Art’ today.”

By Greg Beacham The Associated Press

OS ANGELES—UFC superstar Conor McGregor announced his retirement on social media on Monday night, abruptly ending his remarkable fighting career. In a post on his verified Twitter account, the former UFC featherweight and lightweight champion said: “I’ve decided to retire from the sport formally known as ‘Mixed Martial Art’ today.” The post wishes his “old colleagues well going forward in competition,” and says he would “join my former partners on this venture, already in retirement. Proper Pina Coladas on me fellas!” The name of the drink in the post appears to be a reference to Proper No. Twelve Whiskey, the loquacious Irishman’s burgeoning liquor venture. UFC President Dana White said in a text message to The Associated Press that McGregor’s announcement “totally makes sense.” “He has the money to retire, and his whiskey is KILLIN it,” White added. “If I was him, I would retire too. He’s retiring from fighting. Not from working. The Whiskey will keep him busy, and I’m sure he has other things he’s working on. He has been so fun to watch!!! He has

accomplished incredible things in this sport. I am so happy for him and I look forward to seeing him be as successful outside of the octagon as he was in it.” The 30-year-old McGregor is the most famous fighter in his sport, but he hasn’t won a fight since November 2016, when he beat Eddie Alvarez to become the first UFC fighter to hold championship belts in two divisions simultaneously. His only fight in 2017 was a loss to boxer Floyd Mayweather in the richest fight in boxing history. He finally returned to the UFC cage last October, but lost a lightweight title fight to Khabib Nurmagomedov via submission in the fourth round. McGregor was widely expected to fight for the UFC later this year. A few hours before he announced his retirement, McGregor appeared on The Tonight Show Starring Jimmy Fallon in New York and claimed he was negotiating for a probable fight in July at UFC 239 in Las Vegas. “I don’t necessarily need to fight,” McGregor said on the show. “I am set for life. My family is set for life. We are good, but I am eager to fight, so we’ll see what happens.” McGregor has quit his sport before. He announced his retirement on Twitter in April 2016 during a dispute with the UFC about the promotion of his next proposed bout. He reversed his decision two days later and fought in

Woods to open Match Play A vs PGA Tour rookie of year

TIGER WOODS faces another player he doesn't know. AP

USTIN, Texas—Tiger Woods is at another new golf course for a World Golf Championships event and faces another player he doesn’t know. Woods, who arrived on Monday and played nine holes at Austin Country Club, opens the Dell Technologies Match Play against Aaron Wise, an NCAA champion from Oregon and the PGA Tour rookie of the year. Wise will be the 21st player who had never played with Woods since he returned from back surgeries that kept him out of golf for most of two years. Woods, the No. 13 seed, also has Patrick Cantlay and Brandt Snedeker in his group. The only other time Woods played against Cantlay was in the 2011 Frys.com Open when Cantlay was a sophomore at UCLA. The last time Woods played in this fickle event was in 2013 in the high desert of Arizona when the Match Play was single elimination. The only three-time winner, Woods was beaten in the first round by Charles Howell III. Now it features 16 four-man groups, round-robin play on Wednesday through Friday, with the winner from each group advancing to the knockout stage over the weekend. The 64-man field based on the world ranking from two weeks ago was divided by their seeds to determine who went into the top 16

August 2016, winning his rematch with Nate Diaz. White believes this retirement is genuine, and McGregor has had plenty of action outside the cage to occupy his time. In April 2018, McGregor was charged with assault and criminal mischief after he attacked a bus carrying UFC fighters outside Barclays Arena in Brooklyn. McGregor was acting in revenge for a perceived slight against a teammate, and he eventually pleaded no contest to a count of disorderly conduct. Earlier this month, McGregor was arrested again in Miami Beach for stealing the phone of someone trying to take his photo, authorities said. McGregor was charged with robbery and criminal mischief, but his attorney described the altercation as minor. McGregor also was suspended from MMA competition for six months and fined $50,000 for his role in a brawl instigated by Nurmagomedov immediately after their bout last October. If it sticks, McGregor’s retirement ends a remarkable rise for the former plumber from Dublin who became the biggest star in MMA with his heavy fists and selfpromotional acumen. He won 15 consecutive fights during his rise, including a spectacular 13-second knockout of Jose Aldo to win the featherweight title in December 2015. groups—Nos. 17-32, Nos. 33-48 and Nos. 49-64—and it was a lottery to see which player went into each group. There still was very little intrigue. Dustin Johnson, the No. 1 seed for the third straight year, has Hideki Matsuyama, Branden Grace and Chez Reavie. Johnson, who won the last World Golf Championship in Mexico City last month, opens with Reavie, who needs to advance out of group play to have any chance of cracking the top 50 in the world to get into the Masters. Rory McIlroy, who won The Players Championship two weeks ago and has yet to finish worse than a tie for sixth this year, has Matt Fitzpatrick, Justin Harding and Luke List, the last player to get into the field. One group has nothing but major champions. Jason Day, the No. 12 seed, drew Phil Mickelson, Henrik Stenson and Jim Furyk. Mickelson and Stenson meet on Wednesday, only the second time they have played together since Stenson won their duel at Royal Troon in the 2016 British Open. The only drama late in the selection process was when Jordan Spieth in the “B’’ group as the No. 28 seed had yet to be taken, and Patrick Reed from the “A’’ group as the No. 16 seed was still available. Reed beat Spieth last year to advance out of group play, and they were split up as Ryder Cup partners in France, which led Reed to complain that Spieth was behind the split. Alas, Spieth’s number was called to play with Bubba Watson, the No. 15 seed and the defending champion of a tournament he really doesn’t like all that much. “I vote every year not to have Match Play because I feel like I have a better chance in 72 holes than do I individual, because we have seen every year a guy shoot in the 60s and lose and then we see a guy shoot in the 70s and win,” Watson said on Sunday. “And it’s like, ‘Wait a second, how fair is this?’” Also in that group are Billy Horschel, whom Spieth will face on Wednesday, and Kevin Na. Reed got Sergio Garcia, Shane Lowry and Andrew Putnam. AP

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Business

C2 Wednesday, March 27, 2019

ERLAS’S Bea Tan and Dij Rodriguez defeated National University (NU)-Boysen’s Roma Joy and Roma Mae Doromal, 21-18, 21-16, to rule the Beach Volleyball Republic On Tour Santa Fe Open on Sunday in Bantayan Island, Cebu. It was Tan and Rodriguez’s second consecutive championship, winning all five matches in the beach volleyball circuit’s third visit to Cebu province. Tan and Rodriguez were first challenged in the semifinals, rallying from a set down to beat Air Force 1’s May Ann Pantino and Jozza Cabalza, 1421, 21-18, 15-12, while the Doromal sisters topped Bacolod’s Bianca Lizares and Margie Señas, 24-22, 21-19, in the other pairing.

Pantino and Cabalza settled for third place after prevailing over Lizares and Señas, 21-15, 21-13. Sharing the spotlight is Air Force-AboitizLand’s Ranran Abdilla and Jessie Lopez, who overcame a first set loss and rallied from a 4-8 deficit in the third set to nip University of Saint La SalleBacolod’s Harold Parcia and Neil Depedro, 11-21, 21-16, 15-13, and emerge as men’s champions for a third consecutive time. The triumph was a fitting send-off for Abdilla and Lopez, who also ruled the December Open in Manila late last year and the Puerto Galera leg two weeks ago, as the Air Force standouts will now fully concentrate to the national indoor volleyball team preparing for this year’s Southeast Asian Games.

PETRON NEARS SWEEP R

EIGNING champion Petron moved closer to sweeping the preliminaries after crushing Generika-Ayala, 2523, 25-13, 25-21, in the Philippine Superliga Grand Prix on Tuesday at the Filoil Flying V Centre in San Juan. Imports Stephanie Niemer and Katherine Bell were impressive in lifting the Blaze Spikers in the first and third sets en route to their 12th victory. Niemer, once considered for a spot on the United States national team, fired 19 points with 13 digs while Mika Reyes chipped in 11

kills and three aces for a 14-point effort for the Blaze Spikers, who are two games away from sweeping the preliminaries. Bell, on the other hand, chipped in 12 points, including a powerful backrow hit that served as the game-winner. Petron—then bannered by the prolific troika of Aby Maraño, Dindin Manabat and Rachel Anne Daquis—already pulled off a Superliga sweep in the 2015 All-Filipino conference. The squad posted 13 straight wins to clinch the title. Petron Coach Shaq de los Santos, who served

Enriquez captures 2 titles in Ozamiz

Tan-Rodriguez tandem rules Santa Fe Open

PERLAS’ Bea Tan and Dij Rodriguez celebrate their victory.

as assistant to George Pascua during that historic sweep four years ago, said Generika-Ayala gave them a tough good fight and the players’ character were put to an ultimate test. “Generika played really well,” said de los Santos, also the head coach of the national women’s team that will see action in the 30th Southeast Asian Games. “They are willing to take every set and they made us struggle with our passing.” De los Santos, however, assured that they won’t be complacent as they head into the quarterfinals.

“Playing a close game like this is very challenging for us. Good thing we were able to recover,” he said. “We have to learn from this and realize that we can’t afford to struggle, especially since we’re moving closer to quarterfinals.” The Blaze Spikers squandered a 17-7 cushion as the Lifesavers unleashed a 9-1 run capped by Marlyn Llagoso’s block on Reyes to trim it to within two, 18-16. But Bell and Niemer gave the Blaze Spikers a 21-18 breather before Fiola Ceballos’s hit and Rhea Dimaculangan

committed a setting violation that put Generika-Ayala just within one, 21-20. A service error from Ceballos’s and Reyes’s quick attack gave Petron a 23-20 lead before Patty Orendain answered with a hit of her own but Niemer’s hit and Bell’s poweful backrow attack sealed the win in one hour and 23 minutes. The Lifesaverss streak ended at three matches and dropped to a 4-8 record. Ceballos and Kanjana Kuthaisong carried the team with 11 and 10 points, respectively.

YDNEY ENRIQUEZ recalled her fierce form and came away with another two-title romp, which Nash Agustines matched in the boys’ singles side as they dominated the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) Ozamiz National age-group tennis tournament at Ozamiz Tennis Club on Tuesday. Enriquez hardly showed the effects of a long rest in the circuit and dropped just eight games in three matches to pocket the 16-and-under crown with a 6-1, 6-2 victory over Guia Bandolis. The Salug, Zamboanga del Sur ace then thwarted Judyann Padilla, 6-3, 6-4, in the premier 18-under final of the Group 2 tournament presented by Dunlop. Agustines also pulled off a pair of straight-set wins to share the MVP honors with Enriquez with the Oroquieta City find upending top seed Aslan Carbonilla, 6-3, 6-0, to snare the 14-under diadem then trouncing Eric Tangub, 6-2, 6-3, in the 16-U finals of the event sponsored by Palawan Pawnshop headed by President and CEO Bobby Castro and United Tennis Philippines OIC Ian Villanueva. Other winners in the five-day tournament sanctioned by Unified Tennis Philippines made up of PPS-PEPP, Cebuana Lhuillier, Wilson, Toby’s, Dunlop, Slazenger and B-Meg were Pete Bandala of Dipolog City (10-under unisex), Kapatagan, Lanao’s AJ Bering (boys’ 12-under), Tubod, Lanao’s Steve Sonsona (boys’ 18), Ivory Malinis from Maramag, Bukidon (girls’ 12-under), and Ozamiz City’s Padilla. Bandala turned back Rose Mesiona, 5-3, 4-0; Bering routed Sean Esick, 6-1, 6-1; Sonsona stunned Tangub, 6-2, 6-4; Malinis crushed Rose Mesiona, 6-1, 6-2; and Padilla redeemed herself in the 14-U finals by overpowering Bandolis, 6-1, 6-2. Bandolis, meanwhile, teamed up with Angel Dinopol to bag the 18-under doubles plum with an 8-6 escape over Enriquez and Ivory Malinis while Carbonilla, in a team up with Eurie Tagal, took the boys’ crown also via an 8-6 decision over Al Pan and Ashton Villanueva. Padilla, on the other hand, copped the 14-under doubles title with Zeiah Toribio, dominating Bandolis and Angel Dinopol, 8-2; while Agustines and Christopher Sonsona clinched the boys’ plum with an 8-3 romp over Penshoppe Erquita and RJ Cagatan. Pete Bandala and Marilyn Mesiona beat siblings Hannah and Hannie Caberte, 8-1, to run away with the 10-unisex title.

orts

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Wednesday, March 27, 2019 C3

Shootout expected at Riviera Challenge

PIDO JARENCIO and his wards savor pansit in practice.

Batang Pier Coach Pido gets his wish

ORTHPORT Coach Pido Jarencio got what he wished for, after the team’s stunning 109-83 win over the TNT KaTropa in the Philippine Basketball Association Philippine Cup at the Smart Araneta Coliseum. Besides receiving a bulk of congratulatory messages, Jarencio and the Batang Pier shared with gusto the pansit given by a team that benefited much from their victory. In a post game interview, Jarencio told media men: “If they were given a ticket to become No. 1, whoever that team was, then that team should treat us at practice. That’s just about it,” Jarencio said. Their bid for a twice-to-beat advantage in the quarters being challenged by Ginebra and TNT, the Rain or Shine Elasto Painters got the bonus as a result of NorthPort’s massive win. Having learned of Jarencio’s comments, Rain or Shine team owners Raymond Yu and Terry Que ordered and delivered pansit or Chinese noodles during NorthPort’s practice at Greenmeadows Gym in Quezon City on Tuesday. “Least it would be construed as a gift,” stressed Yu, adding it’s a simple gesture of friendship and acknowledging one’s achievement. Before the TNT-ROS game, the KaTropa weren’t in the running for the bonus with a 7-3 card, while the Elasto Painters had closed out its elimination campaign with an 8-3 record. Ginebra was also in the thick of it with a 6-3 record, but TNT’s loss also ruined their chances. “’Hope it will not be interpreted in a different way, we have read what Coach Pido wants so we obliged,” said Yu. “He mentioned ‘treat,’ so I thought of pansit.” NorthPort Board Governor and AirAsia executive Erick Arejola thanked the ROS owners although Jarencio made the comments in jest.

JHONNEL ABABA and Jobim Carlos hold the perpetual Philippine Open trophy as organizing Philippine Golf Tour Inc. General Manager Colo Ventosa (left) and National Golf Association of the Philippines Secretary General Bones Floro look on. NONIE REYES

CHASING HISTORY IN PHILIPPINE OPEN T

HE Solaire Philippine Open kicks off its journey to a new century on April 3 at The Country Club (TCC) with records being eyed and another wild finish seen the way it was in the last two editions of the country’s premier championship. After etching his name on the record books as Centennial champion with a playoff victory over Thai ace Prom Meesawat last year, Miguel Tabuena shoots for one feat never done the last 60 years—become a repeat winner of Asia’s oldest National Open when the blue-ribbon event, sponsored by Solaire Resort & Casino for the third straight year, is held at the challenging Tom Weiskoph-designed layout. “We at Solaire are honored to stage last year’s Centennial Phl Open and we are again privileged to be at the helm as the fabled event begins its journey to a new century,” said Thomas Arasi, president and CEO of Solaire, which recently inked a two-year pact with women’s world No. 1 Sung Hyun Park. Steve Lewton of England also nipped American Johannes Veerman in sudden death in the 2017 Open, also at TCC.

“Our fifth sponsorship of the Open also comes on the heels of our new partnership with Park, who marked her rise to the world top ranking by winning the inaugural The Country Club Ladies Invitational early this month,” added Arasi during Tuesday’s press launch at Solaire’s Waterside Restobar. History also beckons for the rest of the bidders, including those from Thailand, Taiwan, Australia, England, Korea and the US, among others, in the $500,000 event backed by the International Container Terminal Services Inc. and sanctioned by the National Golf Association of the Philippines. Tabuena, who also topped the rain-shortened Open at Luisita in 2015, is trying to become only the sixth player to win it three times. Outside of 12-time titlist Larry Montes, Celestino Tugot, who won six diadems, including four straight from 1955, and fivetime winner JRH Mason, only two others have won it thrice—Lu Liang Huan of Taiwan and legend Ben Arda. A fired-up 11-player Thailand side is also going flat out for an Open record, seeking to nail the crown that has eluded the country’s perennial regional rivals for the longest time.

Ten Australians, led by Philippine Golf Tour Asia leg winners Damien Jordan and David Gleeson, also set out to secure their 10th Open jewel while 11 players from the US, headed by regular local campaigners Sam Gillis, Lexus Keoninh, Brett Munson, Cory Oride and PGT leg titlist Nicholas Paez are all primed up for a shot at their 27th Open crown in the event sanctioned by the National Golf Association of the Philippines headed by President Martin Lorenzo. Jobim Carlos, the reigning PGT Order of Merit champion, and Jhonnel Ababa, the winningest player on PGT Asia with three victories, also liked their chances in the upcoming Open. There is also Juvic Pagunsan, Asia’s former No. 1, who is back to resume his hunt for one championship missing in his vast trophy cabinet. “With its great lore and history, the Philippine Open will always be one of our premier championships and we’re happy to be again the title sponsor and chief backer of this fabled event that continues to draw the best players not only from the region but also from other parts of the world,” said ICTSI and PGTI Chairman Ricky Razon, also the man at helm of Solaire operator Bloomberry Resorts Corp.

Colo Ventosa, general manager of PGTI, which coorganizes the event with the National Golf Association of the Philippines, said this year’s cast will feature more than 50 percent of the field which vied last year coming over again, including the local top guns, plus new, strong international players. “The TCC is in great condition and will be spruced up to championship form in time for the Open. It’s going to be another thinking game with the challenges varying from one hole to another, thus forcing one to consider and take care of his next shot,” Ventosa said. Lorenzo and NGAP Secretary General Bones Floro, meanwhile, have guaranteed the local golf governing body’s full support to the event backed by Pin High as the event’s official golf apparel, which will feature former champions and mainstays of the other regional tours seeking to join the elite circle of Open winners. “The NGAP is proud and excited to be partner again with ICTSI,” said Floro, also noting the world’s leading port management’s all out support to golf in all levels. With Ramon Rafael Bonilla

Mad scramble for quarters up in All-Filipino Conference

PHL riders get another shot at Olympic points

WO crucial games mark Wednesday’s, as three quarterfinals hopefuls and a playoff-bound team aiming for a better record collide in the penultimate elimination round showdowns of the Philippine Basketball Association Philippine Cup on Wednesdayat the Smart Araneta Coliseum. The main game at 7 p.m. features a pivotal clash between thirdplace Barangay Ginebra (6-3, won-lost) and playoff wannabe Meralco (3-7). NorthPort (3-6) and Alaska (4-6), meanwhile, collide for the last quarterfinals berth at 4:30 p.m. Six teams have punched tickets to the playoffs led by top seeds and twiceto-beat teams Phoenix (9-2) and Rain or Shine (8-3). Joining them are Barangay Ginebra, TNT (7-4), defending champion San Miguel Beer (7-4) and Magnolia (5-5). With Blackwater (2-9) out of contention, Alaska—tied with NLEX at 4-6—Columbian (4-7) and Meralco are fighting for survival. Veteran Magnolia slotman Ian Sangalang, on the hand, has been a picture of consistency in his team’s steady rise to playoff contention to earn the 2019 Cignal PBA Press Corps Player of the Week for the period of March 18 to 24. The left-handed big man out of San Sebastian knows how much is at stake for Magnolia, which opened the season with three straight losses. No wonder, the 27-year-old Sangalang churned out the much-needed numbers with his averages of 18 points, seven rebounds, three assists and 1.5 blocks to help Magnolia register back-to-back wins against NorthPort and Blackwater. Following a stinging overtime loss to long-time nemesis Barangay Ginebra, Magnolia quickly got back on its feet, bucking a slow start behind a second-half surge in their game against NorthPort. Sangalang unloaded 20 points, to go along with four rebounds, blocks and an assists as Magnolia rapped NorthPort, 103-90 on March 20. Forty-eight hours later, Magnolia was back grinding. Sangalang had a double-double of 16 points and 10 rebounds, while adding five assists and a block to lead Magnolia past Blackwater, 97-87. Ramon Rafael Bonilla

ILIPINO riders get another chance to earn valuable points in the hope of qualifying for the Tokyo 2020 Olympics with the PRUride PH 2019 road race in Subic from May 24 to 26. The three-day event is the first professional race to be staged by British life insurer Pru Life UK and an International Cycling Union 2.2 accredited stage race. Several international teams are expected to join the race and give local squads a run for their money, according to Pru Life UK Senior Vice President and Chief Customer Marketing Officer Allan Tumbaga. Tumbaga said that continental teams from Hong Kong Canada, Australia, Indonesia, Sweden South Africa, Brunei, Korea, Vietnam and Uzbekistan are competing. “We expect something like 13 to 14 international teams to compete. So we’re quite

MAGNOLIA’S Ian Sangalang challenges the defense put up by NorthPort rookie Robert Bolick.

excited about it,” said Tumbaga during the Philippine Sportswriters Association (PSA) Forum on Tuesday at its new home at the Amelie Hotel Manila. Top local teams, such as Go For Gold and 7-Eleven expressed that they are up to the challenge. “The goal I think early on is it’s better if there are more UCI events in the country,” said Go For Gold team manager Jeremy Go in the same forum presented by San Miguel Corp., Tapa King, and the Philippine Amusement and Gaming Corp. “Hopefully we will have our best athletes gain valuable points for the country to get that elusive Olympic spot that we’re all aiming for.” Rodriguez, the 7-Eleven team manager, said that other than earning Olympic points, the event would also help Filipino riders to warm up for the 30thSoutheast Asian Games the country is hosting.

HE best of the old and new of local pro golf and a mix of foreign aces slug it out in what promises to be an explosive start to the Philippine Golf Tour (PGT) Asia’s International Container Terminal Services Inc. Riviera Golf Challenge on Wednesday at the exacting Langer course in Silang, Cavite. Length and accuracy will be key to one’s title drive at the tight, hazard-laden par-71 layout with the foreign bidders also have to endure the heat and the wind expected to come into play in all four days of the $100,000 championship serving as the penultimate leg of the 2018-19 PGT Asia season. A power-packed local cast, led by former Asia’s No. 1 Juvic Pagunsan and fellow Japan PGA Tour campaigner Angelo Que and reigning PGT Order of Merit titlist Jobim Carlos, braces for an early clash with an equally talented foreign crew out to stop the Filipinos, who have ruled the last three stops of the second season of the region’s newest circuit put up by ICTSI. Pagunsan, who marked his return to the local tour with a playoff victory over Carlos in Bacolod last year, is out to flaunt his smoothswinging ways and superb iron game suited in this kind of layout as he seeks to join the elite circle of PGT Asia winners. Que, on the other hand, hopes to ride the momentum of his strong finish in last Sunday’s Maybank Championship where he shot a 66 to finish tied at 25th. Like Pagunsan, the threetime regional tour winner is eyeing his first crown in the circuit organized by Pilipinas Golf Tournaments Inc. Focus will also be on Carlos, whose victory here last year sparked his run of impressive finishes, including two more victories that netted him the OOM title at the end of the PGT season.

MARCIAL, PBA AND NO. 44

HE Philippine Basketball Association will have special treats to its fans for the entire month of April, offering discounted tickets and giving away prizes as part of the league’s 44th anniversary celebration on April 9. “The league is turning 44, and the fans have been with us all these years. It will be a month of celebration, and we’re offering special treats to the fans as our token of appreciation,” PBA Commissioner Willie Marcial said. “Forty-four will be a special number in our celebration,” Marcial also said, referring to their treats to the fans. Even as the PBA Philippine Cup heads to the playoff plays, the league is slashing a 44-percent discount to selected seats—upper box and gallery. On top of that, 44 special prizes will be raffled off on all play dates in April. And during the anniversary celebration on April 9, lucky fans will be accommodated for free on a first-come, first-served basis—the first 44 who could present government IDs showing they were born in 1975. Four lower box tickets will also be given to four fans born on the league’s inaugural day in April 9, 1975. It will also be on a first-come, first-served basis. The PBA has also allotted 444 tickets at the Upper B section of the Smart Araneta Coliseum that will also be given for free to fans on a firstcome, first-served basis at the red gate. “There are more, like when the game count stands at 44-all in any game in April. In such case, we’ll stop the game, and give away gift prizes,” Marcial said. As part of the celebration, the PBA also joins TV5 in supporting Warner Bros’ Breakthrough, a film produced by Golden State Warriors superstar Steph Curry.

NEW HOME Atty. Roberto Uy

(second from left), president of the RUYGROUP Hotel Corp., and Philippine Sportswriters Association President Dodo Catacutan (fourth from left) sign the Memorandum of Agreement making Hotel Amelie Manila the new home of the weekly PSA Forum. Witnessing the signing are (from left) Amelie Hotel Operations Manager William Castro, Athletics Association President Popoy Juico and PSA Vice President Aldrin Cardona.

Sports BusinessMirror

| Wednesday, March 27, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

MICHAEL JORDAN is long retired but remains a hot hoops item. AP

High court refuses to referee dispute over Jordan images

DEVASTATING INJURY! THE Blazers lose Jusuf Nurkic to severe leg injury. AP

NBA RESULTS

Orlando 119, Philadelphia 98

Memphis 115, Oklahoma City 103 Utah 125, Phoenix 92

Portland 148, Brooklyn 144, 2OT

By Erik García Gundersen

The Associated Press

ORTLAND, Oregon—They had just clinched a playoff spot, though there were no cheers or celebrations from the Portland Trail Blazers. Instead, just silence and prayers for Jusuf Nurkic. The gruesome injury suffered by their center overshadowed everything else on Monday night. “Devastating,” Blazers Coach Terry Stotts said. Nurkic had 32 points and 16 rebounds before suffering his left leg injury in the second overtime, and the Blazers outlasted the Brooklyn Nets, 148-144. “It made me sick to my stomach,” Blazers guard Damian Lillard said of Nurkic’s injury. “As I was walking over there, I saw everyone else turn around real quick and walk away, and then I look and I saw his leg.” Nurkic was hurt when his leg bent awkwardly as he battled for an offensive rebound. His leg was immobilized and he was removed on a stretcher while surrounded by members of both teams. Nurkic was then transferred to a local hospital, but the team had no further update on his status. After the injury, Blazers made enough plays to get the win, but then reality hit. “He wouldn’t want us to say, ‘All right, let’s feel sorry for ourselves and feel sorry for Nurk and not care as much,’” Lillard said. “So we’re going to finish the job, try to get the game, but I think after the game, that’s when it kicks in.” The Blazers held a collective moment of silence and prayer for Nurkic in the locker room following the game. “I’m just going to go home and pray for him,” Blazers center Enes Kanter said. “This is bigger than basketball. We clinched the playoff spot, but we can’t even celebrate. He was a big part of our family. Not our team, our family.” The Nets, who watched guard Caris LeVert wheeled off the court after an injury earlier this season, had the same concern for Nurkic. “That’s what our guys are talking about in the locker room,” Nets Coach Kenny Atkinson said.” Not the game or the loss. They’re talking about a player who was having a great game and a heck of a player, so you just pray it’s not a longterm thing and he can bounce back. It just takes the wind out of your sails.” The Blazers are already without starting shooting guard CJ McCollum. “You never want to see that with your friend or your teammate, and then especially as a player, you don’t want to see anyone have to go through that, and it’s also going to be hard on our team,” Lillard said. “CJ’s already out, now [Nurkic] having a tough injury, so every way you look at it, it was a blow.” Lillard finished with 31 points and 12 assists for Portland, while D’Angelo Russell had 39 points, nine rebounds and eight assists for Brooklyn.

Nurkic’s basket made it 134-132 with 3:40 to go into the second overtime. With center Jarrett Allen and Ed Davis having fouled out and the Nets left without a big man, Nurkic had a huge advantage inside whenever he posted up or went for rebounds. But he was hurt while doing so. After he was taken off the court, Anfernee Simons made two free throws for Portland to put them up 136-132. A three-pointer by Rodney Hood extended the lead to 139-132 and forced the Nets to start fouling. There were 12 lead changes and 15 ties over the course of the game, with Portland leading 95-90 after three. The Nets, however, would storm back in the fourth

thanks to the play of their bench. Brooklyn took multiple leads in the final period, with their biggest coming at 112102 with 6:07 left after a jumper by LeVert. Portland fought back, and with the Nets up one with the ball, Seth Curry stole Russell’s dribble and was fouled. He missed the first free throw but made the second to tie the game at 120 with 3.5 seconds left. Russell missed a deep three-pointer to force overtime. Russell scored five early points in the extra period, but Portland took a 128-125 lead on Nurkic’s basket before a three-pointer by Spencer Dinwiddie tied the game again. It went to a second OT tied at 132 after Russell made a lay-up and Lillard missed a long final attempt.

In Salt Lake City, Rudy Gobert scored a season-high 27 points and set the single-season National Basketball Association dunk record to fuel Utah to a 125-92 victory over Phoenix, which got 59 points from Devin Booker. Booker topped his previous season high of 55, set in December in a triple-overtime loss to Washington. The fourth-year guard made five three-pointers and shot 19 for 34 despite drawing several double-teams as the Jazz sought to prevent him from reaching 60 points. He also made 16 of 17 free throws. Derrick Favors and Ricky Rubio each had 18 points, and Joe Ingles added 14 as the Jazz won for the seventh time in their last eight games.

ASHINGTON—The Supreme Court said on Monday that it won’t step in to referee a copyright dispute between Nike and a photographer who took a well-known image of basketball great Michael Jordan. That means lower court rulings for the athletic apparel maker will stand. Photographer Jacobus Rentmeester sued Nike after it used an image he took of Jordan in the 1980s as inspiration for a photograph it commissioned for its own ads. The company’s photo, which was used on posters and billboards, then became the basis for the “Jumpman” logo for Nike’s Air Jordan shoes. Rentmeester sued Beaverton, Oregon-based Nike in 2015, saying both the Nike photo and logo infringed on his copyright image. Rentmeester’s original photo of Jordan was taken for Life magazine in 1984, while Jordan was a student at the University of North Carolina. It shows Jordan holding a basketball in his left hand and leaping, ballet-like toward a basketball hoop. At the time, Jordan was preparing for the upcoming Summer Olympics, which were being held in Los Angeles. In the photo, Jordan is wearing the US Olympic team uniform. Both Rentmeester’s photo and Nike’s photo involve a basketball hoop at the right side of the image and were taken from a similar angle. Jordan’s pose is similar in both photos. But in the Nike photo, Jordan is wearing the red and black of the Chicago Bulls, which he joined in 1984, and the Chicago skyline is the background. One other difference: In Rentmeester’s photo, Jordan is wearing Converse. Rentmeester cried foul, argued that the differences between his photo and Nike’s were “minor,” and said that nearly every original element in his photo also appeared in Nike’s. Lower courts ruled for Nike. AP

Soccer’s treatment of head injuries under new scrutiny B

ASEL, Switzerland—With soccer’s treatment of head injuries again under scrutiny, Switzerland has withdrawn defender Fabian Schär from its next European Championship qualifying game. Schär was briefly knocked unconscious on Saturday during a first-half clash of heads against Georgia, though was allowed to continue playing. He created both secondhalf goals in a 2-0 win in Tbilisi. The Swiss soccer federation said on Monday the Newcastle player has been judged unable to face Denmark by team doctors, 24 hours after issuing a statement defending the same staff’s assessment to let him play on in Georgia. Still, Schär questioned the decision in an Instagram post on Monday stating his desire to face the Danes in Basel. “I really wanted to play and, as always, give everything for the team and Switzerland,” he wrote. “But unfortunately this time the decision is not in my hands.” Team doctors followed Fifa guidelines to keep the 27-year-old Schär from returning to action three days later, the federation said on Monday. Euro 2020 organizer UEFA was urged to investigate the incident by a British nonprofit group campaigning for better awareness of brain injuries. “Put simply, the decision to allow Fabian Schär

SWITZERLAND’S Fabian Schär (left) and Georgia’s Jano Ananidze challenge for the ball during the Euro 2020 Group D qualifying match between Georgia and Switzerland at Boris Paichadze Erovnuli Stadium in Tbilisi, Georgia, over the weekend. AP

to return to the field of play after suffering a clear concussion was not only incredibly dangerous, but also a clear dereliction of duty,” Headway Chief Executive Peter McCabe said on Monday in a statement. Fifa revised its concussion guidelines after the 2014 World Cup when players continued to play on despite obvious distress from head injuries. In the final, with a television audience of hundreds of millions, Christoph Kramer collapsed to the turf before being substituted. The Germany midfielder had played on for 14 minutes after a collision with an Argentina opponent. The problem flared again at last year’s World Cup where team doctors’ new authority to remove players was ignored by Morocco winger Noureddine Amrabat. He refused to be substituted against Iran and played in the team’s next games. In UEFA-organized games this month, Schär’s case follows a Champions League game in Barcelona, where Lyon goalkeeper Anthony Lopes was allowed to play on for several minutes before asking to be replaced. On Saturday, Schär and Georgia defender Jemal Tabidze clashed heads midway through the first half, and the Swiss player slumped to the turf. He was assessed for at least three minutes on the field on Saturday, as Fifa guidelines require. After facing international criticism, the Swiss soccer federation issued a statement on Sunday defending the medical’s staff decision because Schär showed no worrying symptoms. He was checked again before being allowed to board a four-hour flight home from Georgia that evening. In his Instagram post, Schär confirmed he lost consciousness for a short time, but wanted to face Denmark. AP

God of the poor

EAR God, You call us to reach out to those in need. In love and hope we pray. Make us true disciples, oh God. Gift bishops, pastors and pastoral care workers with integrity compassion and courage. Deepen the gifts of contemplation and justice in Your Church. Help us to find ourselves in serving those who are vulnerable, sick and homeless. Inspire social-media writers that they cover articles that speak of truth and good news. May God strengthen us and confirm us in our calling to be witnesses to the light of Christ, by the power of the Holy Spirit. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

BOX OFFICE: GET OUT! JORDAN PEELE’S ‘US’ SHATTERS RECORDS WITH $70.3M D3

Wednesday, March 27, 2019

First artificial intelligence Google Doodle features Bach MOUNTAIN VIEW, California—Google celebrated composer Johann Sebastian Bach with its first artificial intelligence-powered Doodle. Thursday’s animated Google Doodle shows the composer playing an organ in celebration of his March 21, 1685, birthday under the old Julian calendar. It encourages users to compose their own twomeasure melody. Google says the Doodle uses machine learning to “harmonize the custom melody into Bach’s signature music style.” Bach’s chorales were known for having four voices carrying their own melodic line. To develop the AI Doodle, Google teams created a machine-learning model that was trained on 306 of Bach’s chorale harmonizations. Another team worked to allow machine learning to occur within the Web browser instead of on its servers. The Doodle will prompt users who are unsure of how to interact with the animated graphic. AP

Garmin Approach S40 GPS: A stylish everyday smartwatch for golfers

ARMIN International Inc., a unit of Garmin Ltd., announced recently the versatile Approach S40, a GPS smartwatch specifically designed for golfers to use on the course or as a sophisticated timepiece (www. garmin.com/golf). The lightweight watch features a vibrant 1.2-inch color touchscreen display that is sunlight-readable for everyday use and a metal bezel to bolster its elegant design. Additionally, the smartwatch is fitted with adjustable, quick release bands—available in different colors—to easily tailor the watch to a golfer’s personal style. The Approach S40 integrates AutoShot Game Tracking to measure and auto-record a golfer’s detected shot distance for a more focused gaming experience, and thanks to its highly responsive GPS receiver, this stylish smartwatch conveniently locks in on a golfer’s location and displays precise yardages to the front, middle and back of the green, hazards, doglegs and more. Golfers will also have access to over 41,000 preloaded courses from around the world. “The hallmark of the new Approach S40 is its superb ability to offer high-quality functionality on the course, as well as off the course,” said Dan Bartel, Garmin worldwide vice president of consumer sales. “The Approach S40 looks great on

your wrist and gives golfers exactly what they need with a mix of high-sensitivity GPS golf accuracy on the course, and top-notch smartwatch capabilities that track everyday activities.” In addition to the style and smartwatch capabilities of the Approach S40, golfers will have the opportunity to explore an in-depth golf feature set directly from their wrist. Veterans or novice players can strategically use the Green View feature to help enhance their golf accuracy by manually draggingand-dropping the day’s pin location on the display to gain precise yardage. Golfers will also be able to use the watch to see digital scorecards with Stableford scoring, and automatically upload these scorecards to the free Garmin Golf app. Once the app is downloaded, golfers can take advantage of automatic course updates, and even review stats in real time during play or after a round with a compatible smartphone. The Approach S40 features a rechargeable battery that is capable of lasting 15 hours on the course, and up to 10 days in smartwatch mode. A bundled version of the watch adds a three-pack of Approach CT10 club sensors that can be paired for additional automatic game-tracking capabilities. The versatility of the Approach S40 to

serve as a stylish smartwatch allows golfers to personally accessorize the golf watch in a variety of combinations. By easily removing the watch band with a quick slide of the bar, golfers can fit new bands in place to keep their style fresh at all times. Golfers can then sync the watch with a compatible smartphone to receive smart notifications for incoming calls, texts, e-mails and additional alerts that can be displayed on the wrist. The Approach S40 also provides resourceful activity tracking features such as steps, sleep and built-in multisport profiles for fitness initiatives. The Approach S40 is the latest solution from Garmin’s expanding outdoor segment, which focuses on developing technologies and innovations to enhance users’ outdoor experiences. Whether hiking, hunting, trail running, mountain biking, golfing, diving or using satellite communication, Garmin outdoor devices are essential tools for outdoor enthusiasts of all levels. For decades, Garmin has pioneered new GPS navigation, and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary markets, including automotive, aviation, fitness, marine and outdoor recreation. BUSINESS WIRE/AP

Make it the best week ever with your favorite movies, shows and games AS a working professional, we all know the feeling of a hectic schedule—the workload gets heavier, the week stretches out and all you want to do is to unwind. Well, worry no more, because Globe Prepaid (www.globe. com.ph) has got you covered. Enjoy your entertainment favorites everyday with GoSAKTO90 and get free 2GB data, premium video subscriptions, and in-game items so you can go watch and play away the stress. It’s total enjoyment every

day of the week for the whole family. So now that you are on GoSAKTO90, here are the apps you can access and how you can enjoy all of it for one whole week. ■ ‘HALLYU’ MONDAYS. It’s Koreanovela day at the start of the week. Check out the popular Koreanovelas that will tickle all your emotions—laugh, cry, scream, sigh and fall in love. After a tiring and stressful first working day, you would surely need to manage it by indulging yourself with entertainment and all the kilig moments for a feel-good end to your day. There’s a bevy of Korean movies and TV series on apps that you can easily access on VIU or Tribe! ■ ROM-COM TUESDAYS. Today, rom-coms take center stage. Spend the second day of the week reminiscing about your past experiences on love, friendship and everything in between. Whether it be in English, Tagalog, or even Korean (thank you subtitles!), enjoy your Tuesdays by laughing or crying along to your favorite loveteams. Take your pick from the vast selection on iWant, HOOQ and iFlix. ■ WEDNESDAY HUMP DAY. Now’s the hard part—the middle of the week. Get through this proverbial hill by enjoying light entertainment that is easy to watch. Take some time off to watch funny videos and the latest movie trailers on YouTube, or unleash your inner child by watching your favorite animated shows and movies on DisneyLife and Cartoon Network. ■ THRILLING THURSDAYS. Push through the week and energize yourself by watching exciting sports matches on your phone. Get in on all the action of different sports from basketball and football to even martial arts, wrestling

and racing. Stream your favorite sports on ONE FC, FOX+ and NBA. ■ THANK GOD IT’S FRIDAY. Congratulations, you have made it to the end of the week. Celebrate by exploring the thriller and horror sections on Netflix. From the comic book series adaptation The Umbrella Academy and space thriller Nightflyers to the reimagined Chilling Adventures of Sabrina and instant horror classic The Haunting of Hill House, gear up for a frightfully fun night. All you need to do is open your Netflix app and you are all set. LEVEL UP ON THE WEEKEND STRETCH those fingers and get ready for some serious gaming action. Cap off a well-accomplished week by finishing some boss battles, earning more badges or being the last man standing. With seven games to choose from—“Arena of Valor,” “Mobile Legends,” “Clash of Clans,” “Clash Royale,” “Pokemon Go,” “Rules of Survival” and “Free Fire”—you are in for an exciting weekend. By subscribing to GoSAKTO90 or other favorite Globe promos, prepaid subscribers get an additional 2GB data for free. Use this free data for video streaming apps (YouTube, Netflix, DisneyLife, iflix, HOOQ, Viu, Tribe, Cartoon Network, NBA, One FC and FOX+), or mobile games (Rules of Survival, Arena of Valor, Mobile Legends, Clash of Clans, Clash Royale, Pokemon Go and Free Fire). Plus, get exclusive freebies, such as 30-day, one-time only premium subscriptions to iflix, Viu, HOOQ and DisneyLife, or in-app freebies on Rules of Survival and Arena of Valor.

The best time to buy or sell used smartphones THE release of the flagship smartphone by a top brand usually means it is decision-making time: Loyal fans are thinking about selling their previous-generation unit and upgrading to the latest one. Meanwhile, those who simply need to replace their phones that conked out are mulling over buying the older model. Whether you intend to sell or buy a used smartphone, it is worth knowing the price trends of previousgeneration phones when their latest iterations are about to be launched. It can give you an idea of the best time to buy or sell a secondhand mobile phone. To give you a clear view of the best time to buy or sell, online classifieds giant OLX studied its data on the most sold phone brand in the world, Samsung. OLX (www.olx.ph) examined the prices of used Galaxy S8 units when the S9 was revealed. The platform also looked at the classifieds community’s interest (measured in views and inquiries) in secondhand S8 phone ads when its successor was about to be launched. “Intuitively, prices for older generation phones swiftly lose value after the release of a newer model. Our data support the claim. Through our in-depth analysis, we get precise insights on timing. As you know, timing is everything,” said OLX’s Head of Goods and Services Rambo Joinani. THE BEST TIME TO SELL TO get the best value out of your pre-loved phone, put it up for sale on OLX 30 days before the release of the latest model. Can’t let go of it that soon? Sell it on the date of the newest model’s release to spare yourself from a P700 price decrease when you vend it a week later. Inquiries on and views of used smartphones on OLX usually peak 20 days before the release of a new model. The interest starts to slow down seven days before the latest generation phone’s launch. THE BEST TIME TO PURCHASE IN general, the best time to buy a previous generation phone is seven days after the launch date of the newest model. You can save as much as P2,000 by just delaying your purchase. If you are in the market for upgrading your phone, consider selling your old handset on OLX, where you can reach thousands of potential buyers. In the market for a pre-loved phone? Search for a secondhand unit on OLX, where you can select from a wide selection of mobile phone listings.

Wednesday, March 27, 2019

Pet Corner BusinessMirror

www.businessmirror.com.ph

Your pet on pot, or even CBD: Not a good thing, a vet toxicologist explains

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Fergie, 44; Nathan Fillion, 48; Mariah Carey, 49; Pauley Perrette, 50. HAPPY BIRTHDAY: Choose the best route this year, not the easiest. Hard work will pay off and help you build the confidence required to set higher goals and standards. Turn this into a year of conquest and greater understanding. Use experience to bring about changes that add quality to your life and to your relationships with others. Your lucky numbers are 6, 13, 22, 26, 30, 39, 47.

ARIES (March 21-April 19): Look at the ins and outs of whatever you are dealing with. Check the rules and standards that are in place, then consider how best to deal with situations that need some tweaks. Using common sense and practicality will trump discord. ★★★★★

TAURUS (April 20-May 20): Carefully study every situation you face. Do your research and make strategic plans that will help you achieve your goal. Taking action will motivate others to join in and help. A personal change will have a positive emotional effect on you. ★★★

GEMINI (May 21-June 20): Don’t look back or let what others say or do mess with your plans. Focus on what will bring you greater opportunities and help open your mind to new possibilities. Live in the moment, and make the most of your time. ★★★

By John P. BuChWeiTz Michigan State University

Y family and I were on vacation in Florida recently and took advantage of a free afternoon to do some gift shopping for local memorabilia—not your ordinary T-shirts and key chains. Our adventure took us to Saint Armand’s Key, part of Sarasota, and the many unique shops there. While meandering between shops around the outdoor circle, my daughter, 14, was often quick to ask the locals, “Can I pet your dog?” She was missing her dog, Belle, who was being boarded back home and thought it would be a good idea to get her something, too. In our efforts to find Belle a gift, we stumbled upon the most unlikely of shops—a store that proudly advertised CBD (cannabidiol) for you and your pets. CBD is a chemical derived from the cannabis plant, but it does not contain THC, the chemical in pot that makes people high. Nonetheless, CBD appears to be the molecule of the moment after the Food and Drug Administration approved a drug in June 2018 that contains a CBD derivative to treat some forms of epilepsy. Now, in all honesty, I was quite hesitant to make my way in, but there were quite a few dogs and their owners entering and exiting with various products—not all appearing to be CBD-related. So, I looked at my wife and said, “Why not?” As a board-certified toxicologist at a major veterinary diagnostic laboratory, I have had experience working with a broad spectrum of poisoning incidents in all types of animals, including our companions. Recently, our lab has seen an increase in the number of positive tests for marijuana in dogs, many of whom may have accidentally ingested edible forms of marijuana. The American Society for the Prevention of Cruelty to Animals has reported a more than 700 percent increase in calls related to marijuana to its poison center in 2019. As a dad and as a toxicologist, I welcomed the idea of answering my daughter’s questions about CBD and other chemicals in marijuana that are making their way to our pets. But, of course, I had to start with providing her with some context. ‘WHY WOULD PEOPLE GIVE IT TO THEIR PETS?’ SEVERAL items caught my daughter’s attention and, of course, she chuckled with amusement. In that moment, though, she began to ask some great questions: “What is CBD and hemp, and why would people give it to their pets?”

I first reminded her of the most recent election. In 2018, we saw the number of states that legalized marijuana for medical and recreational use expand to 33, including our home state, Michigan. Because of this legalization, there was also a marked expansion in the quantity and types of marijuana-related products available to people and pets, including hemp and CBD oils and pet treats. So, what is the difference and significance of these products? Marijuana—also known as Cannabis sativa—is comprised of somewhere between 66 and 113 different cannabinoid compounds. Of these, recreational use of marijuana is sought after for the psychotropic “high” produced by delta-9tetrahydrocannabinol, or THC. Humans either smoke marijuana or convert it into butters or oils for baked products—most notable of these are the often joked about “brownies”—or other edibles such as candy, or they may use the oil itself. These edible formulations are more problematic for our household companion animals as these are more likely to contain higher concentrations of THC. And they often include other ingredients that may independently cause harm to your pet such as chocolate, sugar and xylitol, a sugar substitute. We have received cases at the veterinary diagnostic laboratory in which animals have been either inadvertently or intentionally exposed to marijuana products. THC is known to be toxic to dogs. According to the Merck Veterinary Manual, common signs of marijuana toxicosis that owners may notice include: inactivity, incoordination, dilated pupils, increased sensitivity to motion, sound or touch, hypersalivation and urinary incontinence. A veterinary exam can reveal depression of the central nervous system and an abnormally slow heart rate. Less common signs include restlessness, aggression, slow breathing, low blood pressure, an abnormally fast heart rate, and rapid, involuntary eye movements. In rare cases, animals can have seizures or become comatose. Hemp differs from marijuana in that it has a significantly lower THC content with predominantly more CBD. In a sense, this lessens the chances that an individual or pet will experience the negative side effects of THC, as CBD doesn’t exert the same psychoactive potential. However, there are no regulations on the chemical makeup of hemp products and therefore no way of really knowing, apart from relying on manufacturers’ labels for batch-to-batch variability in THC content. Additionally, very little is known regarding the long-term health effects of chronic exposure to these products, or about their use in conjunction

with other medications. Last, many CBD oils have claims of even higher purity than hemp. Similarly, though, these products are not regulated and therefore may still exhibit variability in chemical makeup. Additionally, many of the claims about cannabinoids’ effectiveness are anecdotal and have not yet been scientifically proven. This means that doctors of humans and animals remain somewhat skeptical about the potential benefits to their patients.

WHY YOU SHOULDN’T GIVE POT TO YOUR PETS SO, why do people give these products to their pets? For marijuana itself, my answer to my daughter was blunt. It is simply ignorance, or an abusive behavior that spawns from negligence. There are no good reasons to give your pet a “high” regardless of whether the product is legal for human medical or recreational purposes. Pets are not people. Many prescription and overthe-counter drugs, as well as foods that are safe for humans are not safe for pets. For example, alcohol is also toxic to pets and while some owners may think it’s funny to let their pets drink their beer or liquor, it can in fact be quite dangerous for the animal. As for hemp and CBD oils—as a toxicologist, I am skeptical at best. It is difficult to watch our pets suffer through anxiety or pain from ailments such as cancer. However, although these products have been touted for their therapeutic potential, none of them have gone through the rigor of an FDA approval. Anecdotal findings and limited case studies in humans do not constitute the wealth of information that is needed to establish these products as “safe” for our pets. For people, there is an inclination to deem products that originate from plants as being “natural,” and thus rather arbitrarily “safe.” This, too, can be harmful. Simply put, “natural” does not always equal “safe.” There is something to be said about the doctor-patient relationship in treating the whole patient—this goes for pets and their veterinarians, as well. When we choose to use supplements, this needs to be disclosed to a licensed professional so as to allow for conversations about risks and continued health monitoring. It is not wise to bypass our trained professionals for the ill-trained Dr. Google. As I continue to see more of these products show up in veterinary diagnostic samples, our interpretations will continually be guided by future scientific studies and case-based outcomes. Hopefully, a fuller understanding of these products and their associated benefits and risks will be had. As for Belle—we purchased her a brightly colored new collar. ■

VIRGO (Aug. 23-Sept. 22): Look at the possibilities and what you can accomplish. Pledge to do what counts and what will bring the highest returns. Change begins within, and your attitude makes the difference. Proceed with an open mind and heart. Romance is highlighted. ★★★★★

CANCER (June 21-July 22): Live life your way. Consider alterations that will bring you joy and make you feel good about the way you look, what you have to offer and the job you do. Be creative, but don’t exaggerate or overspend. ★★★

LEO (July 23-Aug. 22): Refuse to let emotions interfere with what you need to accomplish. Learn as you go, and project a positive attitude that will encourage others to lend you a helping hand. Work with what you’ve got, and stay within budget. ★★★

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LIBRA (Sept. 23-Oct. 22): Acknowledge what others say and do, but don’t feel you have to conform to ideas and plans that aren’t in your best interest. Live life your way. Contribute what you can without jeopardizing your own dreams, hopes and wishes. ★★

SCORPIO (Oct. 23-Nov. 21): Pleasure, entertainment, romance and personal enjoyment should be your priorities. Work hard to make time to spend with someone you love or to follow a creative or innovative pursuit that promotes personal happiness. ★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Revamp your situation. Address matters that concern you, and be prepared to walk away from people who aren’t honest or those who tempt you to do things you shouldn’t. ★★★

CAPRICORN (Dec. 22-Jan. 19): Put more energy into physical strength and health. Exercise and proper diet will bring positive changes that will encourage you to strive for a better lifestyle. Personal and home improvements will inspire you to spend less and enjoy more. ★★★

AQUARIUS (Jan. 20-Feb. 18): Don’t feel you have to make a change because someone else does. Do your own thing, and pursue what you feel is best for you. Helping those less fortunate will change your attitude, as well as your goals. ★★★★

PISCES (Feb. 19-March 20): Be careful what you wish for. Too much of anything will result in loss. Stay focused on what’s important and what will promote the best future. Helping others will bring you greater satisfaction than overspending or being indulgent. ★★ BIRTHDAY BABY: You are reserved, tactical and insightful. You are worldly and sage.

‘x-ray eyes’ BY GREG JOHNSON The Universal Crossword/Edited by David Steinberg

ACROSS 1 “Othello” manipulator 5 18 or 21, by law 10 Island near Java 14 Celine of pop 15 Passion 16 Composer Satie 17 Receding tide? 18 Family fights 19 Brand with a swoosh 20 Jeans fabric 22 Trains above Chicago 23 Hit home? 24 In the thick of 26 ___ Tac mints 27 Small taste of wine 28 Jumbled 32 A cow chews it 33 Doubt-invoking question end 35 Reusable bag 36 Straddling 38 Sing like a bird 39 Inflatable pilot in Airplane! 40 Together, musically 41 Feels bad for

43 Largest three-letter number 44 Zilch 46 App with left-swipes 48 Sprechen ___ Deutsch? 49 Moved to the runway 50 “Victory is ours!” 53 Dudes 54 Pinball fouls 57 Tucson’s state: Abbr. 58 Post-coup group 60 Deep mud 61 Place 62 Ring-shaped island 63 Handling the task 64 Far from grainy 65 The Post star Streep 66 Big truck DOWN 1 Picked from a lineup, briefly 2 Congression-al staffer 3 Enter, then quickly exit 4 Like efficient trains 5 Clumsy character 6 Uninhibited one 7 18-year-old, by law

8 9 10 11 12 13 21 23 25 26 27 28 29 30 31 32 34 37 42 45 47 49 50

Hermes and Hades Triage places, for short Treat kindly Moisture-starved Facebook verb Furniture giant Sushi bar soup Two times three Dessert with gummy worms Gender equality law represented by this puzzle’s diagonals Perform better than In a rebellious way Where to sign Downright Lowly assistant James who was Sonny Corleone Form a lap Like small hail Agitated state “Bargain” receptacle Mars moon Voice above baritone “You were talking to yourself” response

51 52 53 55 56 58 59

Activist Brockovich What “w/” means Sound-off button Cut, as bangs Alien-seeking org. Strawberry spread ___ of the above

Solution to yesterday’s puzzle:

Show BusinessMirror

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Wednesday, March 27, 2019

BLIND SPOT BRUCE C.

ICONIC ROLE

SO this celebrity made a cryptic post on social media and netizens were talking about what it meant. Is she going to transfer to another network? Yes, there are negotiations to that effect, but nothing is final yet (at press time). The actress is being lured by the other network with a major role in what is probably one of its biggest projects this year, and she is reportedly tempted. But as early as now, we see the actress’ critics cringing if she does take on that role because it’s an iconic character, one that is loved by millions.

LUPITA NYONG’O in a scene from Us, written, produced and directed by Jordan Peele.

Get Out! Jordan Peele’s ‘Us’ shatters records with $70.3M

By Jake Coyle The Associated Press

EW YORK—Jordan Peele has done it again. Two years after the filmmaker’s Get Out became a box-office sensation, his frightening follow-up, Us, debuted with $70.3 million in ticket sales, according to studio estimates on Sunday. The opening, well above forecasts, had few parallels. It was the largest debut for an original horror film (only the It remake and last year’s Halloween have surpassed it in the genre) and one of the highest openings for a live-action original film since Avatar was released 10 years ago. In today’s franchise-driven movie world, seldom has a young director been such a draw. But moviegoers turned out in droves to see what kind of freak-out Peele could muster in his sophomore release. “Peele has really crafted an extraordinary story that I think once again is going to capture the cultural zeitgeist,” said Jim Orr, distribution chief for Universal. “He is recognized as just an amazing

talent. He crafts films that make you think, that are extraordinarily well-acted, well-written and are amazingly entertaining.” Us took over the top spot at the box office from Captain Marvel, which had reigned for two weeks. The Marvel Studios superhero release slid to second place with $35 million in its third week. In three weeks of release, it’s made $910 million worldwide, and will soon become the first $1 billion release of 2019. Other holdovers—the animated amusement Wonder Park and the cystic fibrosis teen romance Five Feet Apart— trailed in third and fourth with about $9 million each in their second week. But the weekend belonged overwhelming to Us, which more than doubled the $33.4 million domestic debut of 2017’s Oscar-winning Get Out. The former Key & Peele star’s first film as writer-director, Get Out ultimately grossed $255.4 million on a $4.5 million budget. Us cost $20 million to make, meaning it’s already a huge hit for Peele and Universal Pictures, which notched its third No. 1 release of the year following Glass and How to Train Your Dragon: The Hidden World. It’s also, as Peele has said, more thoroughly a horror film. While Us has drawn very good reviews (94 percent fresh on Rotten Tomatoes), audiences gave it a relatively low “B’’ CinemaScore. Paul Dergarabedian chalked that up mainly to moviegoers feeling shell-shocked when they emerged from the theater. Us stars Lupita Nyong’o and Winston Duke as vacationing parents whose family is faced with eerie doppelgangers of themselves. The film added $16.7 million from 47 international territories. While Us was propelled by a number of things, including Nyong’o and buzz out of its SXSW premiere, the main selling point was Peele. The 40-year-old director already has an imprimatur matched only by veteran filmmakers like Clint Eastwood.

“It’s really difficult for a director to become a superstar whose name gets people in theater, and Jordan Peele has done just that,” said Dergarabedian. “He’s a superstar director with a brand all his own, and that’s with two feature films under his belt. That’s pretty astonishing. That just doesn’t happen.” After a sluggish January and February, the overall box office has rebounded thanks to Captain Marvel and Us. The weekend was up 15.3 percent from last year, according to comScore. The weekend followed an especially tumultuous week in Hollywood. On Monday, Warner Bros. chief Kevin Tsujihara stepped down following a sex scandal. On Wednesday, the Walt Disney Co. completed its $71.3 billion acquisition of 21st Century Fox. In absorbing one of the six major studios in 20th Century Fox, Disney quickly made many layoffs and shuttered Fox 2000, the Fox label behind hit book adaptations, like Hidden Figures and Life of Pi. Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore. Where available, the latest international numbers for Friday through Sunday are also included. 1. Us, $70.3 million ($16.7 million international) 2. Captain Marvel, $35 million ($52.1 million international) 3. Wonder Park, $9 million ($5 million international) 4. Five Feet Apart, $8.8 million ($6.2 million international) 5. How to Train Your Dragon: The Hidden World, $6.5 million ($6 million international) 6. A Madea Family Funeral, $4.5 million 7. Gloria Bell, $1.8 million 8. No Manches Frida, $1.8 million 9. Lego Movie 2: The Second Part, $1.1 million ($6.2 million international) 10. Alita: Battle Angel, $1 million ($1.6 million international). AP

WORTH IT

THE singer is known for arriving for work hours in advance. She charges a lot of money for appearances, shows and concerts, but she makes it worth every centavo. She does her own makeup impeccably. She is her own stylist. She has her own musicians. She memorizes all her songs and lines. Despite criticisms that she’s old, she still gets bookings because she works hard and delivers more than what she is supposed to.

NEW GUY IN HER LIFE

THE starlet, who comes from a showbiz family, doesn’t have a thriving career, but she has an exciting love life. The starlet is reportedly dating the son of a famous and rich couple. The guy seems smitten but so far, the starlet is quiet. Can’t blame her as she is too young to be in a serious relationship, and being open about her feelings for the boy might affect her career. Let’s just wish the lovely young couple the best for now.

IN NO POSITION TO MAKE DEMANDS

THE actor reportedly wants his love life to be separate from his career and he told his network bosses as much during a recent meeting. He said he didn’t mind telling the world that he’s dating someone. The bosses allegedly thought he was going to confess that he’s gay but that wasn’t it. The actor said he wanted to live freely and not be scared to make new friends openly without them being bashed by his fans. At the end of the meeting, the actor was reminded that whatever he has now, he owes to his fans and the network.

A love story with a supernatural twist By Dinna Chan Vasquez AS HOOQ’s first venture into Filipino original films, Ulan is a pretty big and ambitious project. Directed by Irene Villamor, the love story stars Nadine Lustre and Carlo Aquino, and is a partnership between Viva and HOOQ, the largest Video-onDemand service in Southeast Asia. It is currently in theaters everywhere around these parts. “This is a significant milestone for HOOQ and HOOQ Originals. We are continuing with our promise to bring the very best content from the most promising and talented actors, scriptwriters and directors in the Philippines and across Southeast Asia. Ulan is already one of the most highly anticipated titles of the year, and the first of many more HOOQ Original Movies to come. To partner with Viva on our first HOOQ OriginaI film is super exciting. Viva is a powerhouse here, and we look forward to doing more with them in the future,” said HOOQ Chief Content Officer Jennifer Batty. In Ulan, Nadine plays Maya, who is fascinated with rain. Maya can also see and interact with the mythical creature called the tikbalang, a half man, half horse in Filipino folklore. Aquino, on the other hand, plays Peter, a volunteer for a non-

government organization. Maya’s love interest, Peter wants to unearth the mysteries behind her fascination with rain. Marco Gumabao and AJ Muhlach costar. “The Philippines has an abundance of talented filmmakers that are really pushing the boundaries of the medium—in terms of storytelling, format and style. We see great promise in the market, and will continue to invest in original content in the Philippines and across Southeast Asia. Not only do we want to support local content creators, but we also want to encourage them to challenge conventions and develop engaging, high-quality Filipino content that we can all be proud of,” said HOOQ Philippines Country Manager Sheila Paul. Ulan is the fourth feature film of director Irene Villamor, who is known for her unique style. Her vision of an unconventional love story with a supernatural twist in Ulan has all the makings of a future classic. She also directed Sid & Aya, Camp Sawi, and Meet Me in St. Gallen. HOOQ’s extensive library of Filipino movies and shows include Villamor’s complete catalogue of films as well as Nadine Lustre’s hits, such as Never Not Love You, This Time, Diary ng Panget, On The Wings of Love, Sisterakas and Beauty and the Bestie.

NADINE LUSTRE (center) with HOOQ Chief Content Officer Jennifer Batty (right), Content and Programming Head Jeff Remigio (left).

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Wednesday, March 27, 2019

Focusing on concentration SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

AS this happened to you? You sit down to read a book which was given to you last Christmas. As you turn a page, you hear your neighbors talking about someone and you stop to listen. After a while, you get hungry and make yourself a snack. You go back to your book but then your phone beeps and shows a notification that your friend liked your recent post. You post your comments and after some time, you look up to see half an hour has passed. This could happen to work, too. You strap yourself in to do your reports and your teammate asks a question and you reply, and then your phone rings and you answer, and pretty soon the report takes a back seat. And because of all these interruptions, you find yourself scrambling to finish the report you thought you could do on time. If this is you, there are a lot of things you can do to focus your concentration and get things done in half the time. Concentration is the concerted effort to do a task with determination and persistence. This prevents you from jumping from one task to the other, and helps you hone in on what needs to be done. Concentration plays a big role in developing grit and determination, which are important qualities if you want to succeed in what you do. Developing concentration helps you reign in your thoughts and focuses your mind on the task at hand. It safeguards you from inconsequential thoughts that would otherwise derail you from completing an important task. You will become more decisive

and have a stronger willpower to resist distractions. In time, you can do more with less time which, in turn, will build your self-confidence and fortitude to surmount obstacles which block your way to achieving your goals. So how do you develop concentration? One of the things I repeatedly write in my column is to keep your body healthy. When you are healthy and free from infirmity, you can focus your attention more to achieving your goals. Eating the right kind of food and moderating your alcohol intake can do wonders for you and your constitution. Exercise for at least 20 minutes a day. You don’t need to go to the gym to exercise. The Internet is replete with 20-minute workouts you can do right in your room. One of my favorite workouts is the HIIT, or the High-Intensity Interval Training, because you can do so much in such a little time. Or find a physical activity you enjoy doing. Either way, you give yourself an edge by keeping your body healthy. Get enough sleep to give your body time to recover from all the mental and physical fatigue of the day. Sleep time can vary from person to person, but a good seven hours of sleep is enough to keep your body at its peak. I remember reading that if you wake up to the sound of an alarm clock, you are not getting enough sleep. And if you find your thoughts going down the rabbit’s trail often, you might like to sleep it off to find your way back to the main road. Multitasking is a myth. You are not actually doing several things at once. Instead, you switch focus from one task to the other. Often, people who multitask have not allocated enough time for each task and they end up multitasking to compensate for lost time. To avoid this, schedule the most important task first and work yourself down to the least important. This helps you zero in on what has the greatest impact on your work, and prevents you from scrambling from one task to the next like a headless chicken. Once you have listed the priority tasks, use the Pomodoro Technique to pace yourself. This technique helps your mind focus on tasks one at a time and allows for breaks in between. What you do is to

work nonstop on your task for 25 minutes and then afterwards, take a five-minute break. This is one Pomodoro. After four Pomodoros, take a 20-minute break. This technique helps your mind focus on your task but also allows your brain to relax and breathe, and is especially helpful for stressful situations. Blot out distractions from your environment by choosing to ignore them, or use earphones to silence them. My table is near the floor entrance and people frequently come and go. This offers a lot of distractions so I put on my earphones without actually playing any music. This helps me concentrate on what I am doing and prevents people from disturbing me because they can see I am busy. If you want to listen to music, I suggest you find music without lyrics so you won’t get distracted with singing along to it. To avoid being unnecessarily distracted, declutter your workspace. A messy workstation is more prone to little mishaps which could have been avoided had the desk been kept clean. Some people can work around organized chaos and I am not discounting that. But to ensure there will be no distractions vying for your attention, clean up and leave nothing but your task on your table. And speaking of distractions, put your phone away and put it on silent mode. Notifications from your social media and office messenger can delay your tasks. As much as possible, do not turn on notifications for your social-media accounts while you are at work because it will just eat up most of your time. If you cannot avoid it, set a time during your break to read messages. For the office messenger, silence notifications for the entire time you are working on a task. If it is really important, the messenger will find other ways to get your attention. So many things demand our attention daily and we have to be circumspect on which things we will pay attention to. We devote time and effort on the things that matter to us and concentrate on activities which will help us become better persons. If you truly want to succeed, you have to deliberately make an effort to take the time to focus on things that matter. ■

Pass It On: Starbucks C.E.O. Kevin Johnson STARBUCKS serves 100 million customers each week in its 30,000 stores around the world. President and CEO Kevin Johnson wants the company to serve even more. The Seattle-based coffee chain is opening one store every 15 hours in China. In the US, Starbucks is introducing delivery, opening more drive-thrus and developing new menu items more quickly. It’s a tall order for the former tech executive, who joined Starbucks’s board in 2009 and became CEO in 2017. Johnson recently shared some of his management insights with the Associated Press’s DeeAnn Durbin. One of your most visible actions was your decision to close all US stores for a day last spring for racial bias training after two black men were arrested at a Starbucks in Philadelphia. Do you think more companies should take that step? I think the learning that we had is

applicable to a lot of other companies. In fact, I’ve had many calls and e-mails from CEOs of companies both large and small asking for us to share the learnings and the materials that we created. That’s why we put all of those materials in an open source environment, so they’re accessible to anyone who wants to participate and engage in a way that I believe will also make them a better company. You spent 32 years in the tech sector before assuming your current role. How has your background in technology informed your work at Starbucks? I learned about how to unify people around a common mission and pursue that particular mission. In addition to that, I spent years understanding how technology is reshaping the consumer. Starbucks has over 16 million active Rewards members, and a total of 30 million digitally connected customers. We’re bringing in technology in a way that complements the human connection and the in-store experience. And that is a big part of

what we believe is essential for every retailer. Every brick-and-mortar retailer must create an experience in their store that becomes a destination, and they must extend that experience to a digital, mobile relationship. What advice would you give your younger self? Well, if I think back in my life journey, the advice I would give the younger version of myself is be authentic. I went through life maybe not having the courage to show vulnerability or the confidence to really be who I was, and as I got later in my life, I figured out that authenticity is the fastest way to create human connection and to lead people. That means having the courage to show vulnerability, show empathy and compassion and in doing that, you’re demonstrating something that every single one of us on this planet has in common. That is the human experience, and that is what makes great leaders.

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Promise to help end gender-based violence renewed VIOLENCE continues to affect millions of women around the world—we have witnessed it, and some of us may even have experienced it. In the Philippines, harassment cases continue to rise alarmingly, and are not at all limited to the physical kind of abuse. Take a look at these numbers: 1 out of 4 married Filipino women have experienced abuse from their partners; 3 in 5 Filipinas have been sexually harassed in their lifetime; while online harassment has victimized mostly women aged 15 to 35. With the international community celebrating Women’s Month, Avon Philippines, a company that has long supported women’s causes, renews its “Promise to Help End Violence Against Women and Girls,” as part of the company’s recently launched global plan Stand4Her, which aims to improve the lives of 100 million women by advancing their earning potential, freedom of expression, and ability to live a safe and healthy life. Ruffa Gutierrez and her daughters Lorin and Venice are serving as celebrity ambassadors for the campaign, helping shine a light on the different forms of abuse, and encouraging everyone to join the crusade against violence through their own stories. In a series of online videos by Avon Philippines, Ruffa and her daughters share their personal experiences and insights on catcalling, online harassment and abusive relationships—encouraging women to stand up for each other and to never tolerate such behavior. As part of the Promise to Help End Violence Against Women and Girls, Avon has also created the limited-edition Free as a Butterfly jewelry set to help fund partner NGOs that empower abused victims and survivors through support, guidance and inspiration with proceeds of the collection sales. The set is available through an Avon representative or online at www.avonshop.ph for only P299. Each sale will give P50 to the programs of partner organizations, which positively impact the lives of hundreds of Filipino women. If you’re experiencing abuse or suspect someone who is, contact these NGOs: Luna Legal Resource Center for Women and Children in Davao at (082) 3065761, Gender Watch Against Violence and Exploitation in Dumaguete at (035) 422-8405 or 0915 259 3029, Women’s Care Center Inc. in Manila at (02) 514-4104 or 0999 577 963 and Ing Makababaying Aksyon in Pampanga at (045) 323-4750.

AVON Fashions’s limited-edition Free as a Butterfly jewelry set, a fundraising product, will help fund partner NGOs that empower abused victims and survivors

BusinessMirror E1 | Wednesday, March 27, 2019 • Editor : Tet Andolong

DREAM Crest

Cousins building the future of Asian Land By Rizal Raoul S. Reyes @brownindio

Contributor

OUSINS Pia Madrid and Gianne Gonzales have gone a long way since they joined Asian Land Corporate Center in 2011. Founded in 1994 by their late grandfather Amando Buhain from Malolos, Bulacan, Asian Land has grown significantly as one of the major developers in the historic province in Luzon. Madrid, chief operating officer of Asian Land, joined the company upon the request of her grandfather after finishing her management degree in De La Salle University in 2010. Gonzales, the chief financial officer of Asian Land, joined the company after her graduation from the University of Asia and the Pacific on the same year. “We were asked by our grandfather to join Asian Land to continue his mission and vision,” said Madrid and Gonzales. In 2015, both were promoted to management position in the company. “It was initially hard to run positions given to us,” Madrid and Gonzales told the BusinessMirror in a recent interview. “I had to handle finance and energy to get my feet wet with the new position,” Madrid recalled. Jacky Quintos, the chief executive officer of Asian Land, pointed out that Madrid and Gonzales’s exposure in the company was more than enough for masters of business administration degree in a reputable

A TYPICAL dining room at Freya, Woodlands

business school. “If you have seen Pia and Gianne in their earlier days with the company, they look very different,” Quintos said. Madrid and Gonzales pointed out that the property boom in the country is benefiting Asian Land. “The economy under the Duterte government has been improving and the purchasing power of the Filipino has increased visibly based on the increased interest of Filipino and OFW clientele,” Madrid said. “Definitely. We can see that there was increase in purchasing power of the Filipinos. With more means to purchase and being in a strategic location here in Malolos, Asian Land will 100 percent benefit with economic growth,” Gonzales added. For 2019, Madrid said Asian Land is excited and looking forward on the opening of the North Luzon-South Luzon Expressway Connector Road in 2020, the Philippine National Railway main station in Malolos which will open in 2021,and the completion of the Bulakan, Bulacan International

MAIN bedroom in Sasha model house, Grand Royale

Airport in 2023. “We expect the current land value per square meter to dramatically increase when these government projects are completed,” Madrid said. Asian Land is currently targeting the middle-income market. Since the majority of their projects are residential in nature, the company offers lots averaging 100 sq m with single detached housing units ranging from 60 sq m to 150 sq m per unit. Our smallest model house is a twobedroom, two-toilet unit. The price for a house and lot unit ranges from P2 million to P10 million.

Social media has contributed to the increase of sales of Asian Land. Before the ratio was 90 is to 10 in favor of the local market over the overseas Filipino workers, it is now at 70 to 30 (local market–OFWs). Madrid said expanding outside Bulacan is part of the road map. In eight years, Asian Land plans to establish presence in selected areas in the Visayas and Mindanao. “There is also an aggressive plan to invest outside the Philippines sometime 2030, potentially in a developing Southeast Asian country,” Madrid said. “Beginning 2023, we will start de-

DINING room area in Louisa, Grand Royale

veloping in the north, particularly in Clark where a green city is planned to rise [government project],” Gonzales added. Asian Land also plans to venture into vertical housing within a decade. “This is part of our 10-year plan to have projects with recurring income. Vertical housing with commercial establishments will be the kind of communities we will be developing within five years,” Madrid said. At present, Asian Land has over 7,000 lots in their inventory right now. Gonzales said the company has at least 500 hectares ready for

development. “We are just waiting for the right time to develop the said area,” she said. Right now, Asian Land is developing five projects. These are Grand Royale, Dream Crest, Woodlands, The Meadows and Casa Buena de Pulilan. Asian Land was awarded several laurels such as the National Product Quality Excellence Award (2005), Philippine Marketing Excellence Award (2005), Asia Pacific Quality Excellence for Product and Customer Service Awards (2006), Philippine Brilliance Awards for Products and Services (2006).

Business

E2 Wednesday, March 27, 2019

ULI SPEARHEADS TECHING UP OF REAL-ESTATE INDUSTRY delivery and technology. n Bhavna Suresh. Bhavna has professional experience across five countries in entrepreneurship, business strategy, digital marketing and general management. Currently, she is the CEO of Lamudi Philippines, the number one real-estate portal in the country that has changed the landscape of the industry by bringing together stakeholders from both public and private institutions for the benefit of the property seeker.

Amor Maclang

FIRST DIBS IN REAL ESTATE

HILE technology is progressing at a rapid sometimes even reckless rate—empowering people, determining roles, and shaping both opportunities and risks—its role in business is expanding at an equally fast pace. This ongoing technological disruption has been redefining the way people do business, providing new platforms and new services that make the business landscape infinitely more exciting. In the real-estate industry alone, investment in technology is at an alltime high. For buyers, sellers and everyone who’s part of the real-estate industry, this means more options, more solutions, more products and more tools that can make everything from buying, selling and investing to fixing or renting, easier and more lucrative.

As the global real-estate industry expands with incredible speed, the Philippine property landscape is itself making its own impressive shift. Now, we see local property companies using big data and analytics in their marketing and sales strategies to give buyers a fuller experience at all touchpoints, among other things. At the forefront of this technological transformation in real estate is the Urban Land Institute (ULI), bringing together industry leaders with a common commitment to improving professional standards,

seeking the best use of land and following excellent practices. This coming April 4, ULI brings together the movers and game changers in the industry for the ULI Philippines Conference 2019, dubbed “The FUTU/RE SUMMIT: Real Estate Technology and Innovation.” I am honored to be included in the roster of experts and thought leaders from the real estate, technology, finance and transportation sectors as we talk about our respective roles in the changing landscape of real estate in the Philippines and Southeast Asia.

Movers and game changers

ALTHOUGH the industry experts and thought leaders who will share their insights during the conference come from diverse fields, they will put their minds together and discuss how the Philippine real-estate industry is faring in the global technological transformation of the industry and the exciting possibilities that await the country in the real-estate technology space. Among the prominent speakers in the conference are the following:

n Nigel Barnes. IWG senior partner since 2007, Nigel has led the network development activities of IWG Plc. and its various brands across Asia Pacific, not limited to Regus and Spaces. In the Philippines, this has grown to 30 locations in Metro Manila, Cebu, Davao and Clark. n Jordan Kostelac. Jordan is a director at JLL. He focuses on solving challenges in real estate at JLL through the creation and deployment of property technology (PropTech) platforms for the Asia-Pacific region. He works with both internal and external teams in the organization, and guides the exploration of how technology can positively disrupt built environments. n Angeline Tham. Angeline is no stranger to the tech industry. She is a serial entrepreneur who launched one of the top online auction outfits in Singapore called Sold.sg. She founded Angkas in 2017, and it is now the most popular ride-hailing and delivery-service app for motorcycles in the country with over 27,000 biker partners and over 1.5

million app downloads. n Sec. Raul Lambino. Secretary Raul L. Lambino was appointed member of the Cabinet by President Duterte in 2017 and is the present administrator and chief executive officer of Cagayan Economic Zone Authority. n Julian Kwan. Julian is the founder and CEO of InvestaCrowd, an online real-estate capital marketplace. Based in Singapore, he is a massive proponent of alternative and online investing, specifically for real estate. n Enrique Gonzalez. Enrique is the founder and CEO of IPVG, a publicly listed, multimillion-peso company that focuses on three areas: communications, content and businessprocess outsourcing. n Jack Fitzgerald. Senior development manager and regional innovation lead at Lendlease Singapore, Jack is currently working on Paya Lebar Quarter, Lendlease’s $3-billion mixed-used urban regeneration where he is responsible for retail

n Kristina Bautista. Kristina currently heads OLX, the world’s leading classifieds platform, which provides local communities in highgrowth markets with vibrant online marketplaces. OLX connects local people to buy, sell or exchange used goods and services by making it fast and easy for anyone to post a listing through their mobile phone or on the Web. Other panelists include Nicholas Brooke of Professional Property Services Group; Mario Berta of Flyspaces; Jean Jacquelyn Nathania de Castro of ESCA International; Mark Gorriceta of Gorriceta Africa Cauton & Saavedra; Peter Hyland of Cistri; Phil Kim of Jerde Partnership; Dustin Jefferson Onghanseng of uHoo; Stephen Pimbley of SPARK; and Neva Talladen of Swoop PH.

Shaping, inspiring, innovating, leading

AS Asia continues to adapt with the rest of the world in urban development and land management, the Philippines is also leading the way among the countries in the region to more sustainable, greener and modern spaces in its cities. ULI as an organization continues to shape, inspire, innovate and lead in urban development and nation-building.

Bay Area’s first office building for sale nears completion By Rodel Ambas Jr.

Photos courtesy of Golden Bay Fresh Landholdings Inc.

EWLY minted real-estate player Golden Bay Fresh Landholdings Inc. recently announced that its first project, Aspire Corporate Plaza, is due for completion a year ahead of schedule. In a briefing and site tour held recently, Golden Bay Chief Operating Officer (COO) Jardin Wong said Aspire, which started construction in early 2018, is expected to be completed in June 2020, giving investors a taste of the first-ever office building in the Bay Area to be sold to individual buyers and investors. Wong cites their partners in achieving not just this feat but also in coming up with the best design and quality for this one-of-a-kind project. Its partners include ASYA Design Partner, Megawide Construction Corp., Sta. Elena Construction and Development Corp., and Meinhardt Philippines Inc. Estimated to cost P2 billion, Aspire Corporate Plaza is the first and so far only property in the Bay Area to sell office spaces. Investing in office-space property, rather than just leasing for one’s business, is a good decision, especially for long term. Impeccably located, Aspire will soon rise along Diosdado Macapagal Avenue, a stone’s throw away from DoubleDragon’s DD Meridian Park, City of Dreams Manila, the SM Mall of Asia Complex and Federal Land’s Metro Park.

All roads lead to the Bay

THE Bay Area is fast becoming Metro Manila’s “it” address, thanks to a good

GOLDEN Bay Fresh Landholdings COO Jardin Wong during a site tour at Aspire Corporate Plaza. This project along Macapagal Avenue is the first office project in the Bay Area open for purchase to individual buyers and investors.

number of big-ticket projects and infrastructure push from the government. The Naia Expressway, for instance, has shortened the drive to Terminals 1 to 3 of the Ninoy Aquino International Airport and to the Makati central business district (CBD), while a number of real-estate projects will drastically change the area’s landscape in the coming years. Some of these projects include Megaworld’s Westside City township, Aseana City and a new shopping mall by Ayala Land. Office rents are quickly increasing in the Bay Area as well, thanks to healthy demand. Data from realestate consultancy firm KMC Savills shows that rents in the area as of the last quarter of 2018 average P826.5

per square meter, per month—making it the third most expensive office market among the Metro’s major business districts after Makati and Bonifacio Global City. Vacancy rate is at a very tight 0.6 percent, which pushes prices even higher. Currently, prices at Aspire range between P250,000 and P278,000 per sq m, said Wong, up from P220,000– P250,000 per sq m a year ago. Standing on a 3,500-sq-m lot, Aspire offers about 74 office units, with sizes ranging from 184 to 340 sq m. Buyers and corporate occupiers with bigger requirements can also opt to combine units or even purchase entire floors. It has three parking levels (one basement and

JARDIN WONG during the media briefing

passengers and one service lift, and a sky garden at the eighth and ninth floors with an F&B area.

Future projects

ASPIRE Corporate Plaza

two podium), providing 261 parking slots, which is equivalent to about 32 slots per floor. A typical floor has 10 office units. The building is also

planning to allot 20 to 30 parking slots for visitors. In addition, the building will have six high-speed elevators that can accommodate 21

ACCORDING to Wong, the Bay Area will no doubt become Metro Manila’s next real-estate hot spot. “Aside from the premium in investing in an office space, one cannot just pass up the Bay Area.” But Golden Bay Fresh Landholdings is definitely not stopping here. This young company is already conceptualizing its next project, this time a mixed-use development in Bacoor, Cavite, which is a mere 15-minute drive from the Bay Area. A 2019 launch is in the works.

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Wednesday, March 27, 2019 E3

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Smart lighting system to transform Puerto Princesa By Roderick L. Abad

@rodrik_28

UERTO PRINCESA is keen on becoming the country’s “City of Lights” with the recent installation of the first batch of 740 smart bulbs that forms part of the local government unit’s (LGU) P99-million road lighting program meant to make Palawan’s capital more livable and progressive.

SMART lights from Signify Philippines brighten up Puerto Princesa’s main thoroughfares.

PUERTO PRINCESA Mayor Lucilo Bayron (left) shakes hand with Signify Philippines Country Manager Jagan Srinivasan (right) as a sign of their partnership to install a smart lighting system in Palawan’s capital toward becoming the country’s “City of Lights.”

No less than Mayor Lucilo Bayron led the ceremonial switching of the 50 intelligent lights—eight units in the City Coliseum, 21 in Libis Road and 21 in BM Road—that was witnessed by other local officials, top business executives and his constituents. “Though this will be a tiny step toward lighting up the entire City of Puerto Princesa, this will be a great leap to provide a top-of-the-line smart lighting system of international standard,”

he said in mixed Filipino and English. Behind this ambitious project is Signify Philippines Inc., formerly Philips Lighting that is now at the forefront of clever intelligent systems and holistic services, with state-of-theart connected lighting, visible light communications, and data powered lighting for commercial and consumer applications. “We have to look for a prestigious company that will not run away from

its obligation,” the local chief executive said of their decision to partner with the world’s top lighting solutions enterprise for their massive road lighting initiative. The City of Puerto Princesa has long been experiencing power interruptions and rationing. It even declared a state of emergency in July 2012 because of lack of energy supply and unsteady power plant conditions. “At the moment, we’re still experiencing them. But truly it will be solved in the future,” Bayron said. “And by putting up smart lighting will help actually in not using too much power that really we don’t need.” Road accidents and street crimes were also some of the problems the city had once faced due to lack of lighting facilities. Upon his assumption of office in July 2013, the LGU owed P32 million to utility firm Palawan Electric Cooperative. “We had to pay in three monthstime, but we were able to do it. Then, we decided to replace all the bulbs along Rizal Avenue with LED [light emitting

diode]. After the first month, we saw the dramatic decrease in power bills. From then on, I’ve been looking for ways on how to light up the entire city,” Bayron shared. “We’re happy working with them and we expect a quality road lighting project.” Through Signify’s platform called “Interact City,” Puerto Princesa now boasts of having a robust infrastructure of connected street lighting and software applications that can be operated by the LGU’s chief engineer. How does it work? It allows the latter to remotely access every single light point that is linked to the system. At the back-end, software is connected— utilizing map-based visualizations for easy management and data gathering and analysis, the software can monitor the performance of every street light and send real-time alerts on outages for quick. The light poles are equipped with sensors that can adapt to ambient light as well as road situations like traffic or crime. “These are all the possibilities [that can happen with intelligent lighting].

Fastest-growing mass housing developer on a roll

HERE’S no stopping Bria Homes, the fastest-growing mass housing developer in the Philippines, as it lives up to its fine reputation as provider of fine-quality homes that are made affordable to more Filipinos nationwide. A subsidiary of Golden Bria Holdings Inc.—a company with a market capitalization of over P200 billion— reputably the third-largest real-estate company in the Philippines in terms of market capitalization. To date, Bria Homes touts a portfolio of 50 developments across 40 of the country’s most progressive towns and cities, with a total of over 700 hectares of land. In the Philippines’s economic and political center of Luzon, Bria boasts of projects in the provinces of Pangasinan (Urdaneta), Tarlac (Paniqui), Pampanga (Magalang and San Fernando), Bataan (Mariveles and Hermosa), Cavite (General Trias, Trece Martires and Indang), Batangas (Balayan and Lipa), Bulacan (Plaridel, Santa Maria, San Jose Del Monte and Norzagaray), Rizal (Teresa, Binangonan and Baras), Laguna (Calauan, Calamba, Santa Cruz, San Pablo, Alaminos and Bay), and Camarines Sur (Pili and Iriga). In the Visayas and Mindanao, Bria brings affordable housing to Negros Oriental (Dumaguete), Samar (Calbayog), Leyte (Ormoc), Misamis Oriental (Cagayan de Oro, Balingasag and Gingoog), Bukidnon (Manolo Fortich, Valencia), Davao del Norte (Tagum, Panabo and Carmen), Davao del Sur (Davao City and Digos), North Cota-

Now what will happen is—over time and with data—the engineer is able to make data-based decisions to optimize the lighting usage of the city and have all of these done based on, let’s say artificial intelligence in the background,” explained Jagan Srinivasan, country manager of Signify Philippines. Because LED lights consume only 50 percent of energy as compared to conventional ones and connecting them with controls could save another 30 percent of power, the city government of Puerto Princesa stands to reduce its electric consumption by 80 percent with this project. It will also take years before a Signify bulb, with a life span of 50,000 hours, could be replaced or upgraded. “It’s not just about the peso value of what you can save,” he said. “I think that will impact on the environment of the city and, of course that will also have an

WWF-PHL partners with Greenfield to support #AyokoNgPlastik for Earth Hour 2019

bato (Kidapawan), and South Cotabato (General Santos City). “These notable locations in Luzon, Visayas, and Mindanao, which are near commercial centers and job opportunities, are meant to bring an upgrade in the quality of life of average Filipino families. They are the people who are most in need quality housing, after all,” said Red Rosales of Bria Homes. “Due to very high demand for our projects, we are looking to expand further and remain committed to our long-term mission of addressing the country’s housing problem and helping

thousands of Filipino families achieve the dream home that they deserve,” Rosales added. “Our vision is to transform every Bria community into a place where Filipinos from all walks of life are warmly welcomed and given a chance to live comfortably.” Bria offers eye-catchingly modern and trendy house models that suit the varying needs and preferences of its prospective homeowners: Elena, a 22-square-meter unit on a 36-sq-m lot; Bettina, a 44-sq-m unit on a 36sq-m lot; and Alecza, a 36-sq-m unit

on a 81-sq-m lot. All Bria homes are affordable (going for as low as, P1,897 per month), has fast construction time, and made with beautiful architectural designs. Residents savor pleasant and healthy social interactions in its communities and enjoy the comfort and convenience of being in close proximity with various places of interest. On top of all these, Bria affords its residents access to various amenities and services such as playgrounds for kids, covered courts for events and recreation, retail establishments, and shuttle service.

impact on the consciousness of the people that this government is really keen on keeping the environment balanced.” “A well-lighted street extends the social and economic activities of the city. Apart from that, it also enhances the quality of life of the people. It improves the safety of drivers, riders and pedestrians. It also reduces crime,” he said, while adding that it serves as “a hallmark of good governance.” Ever since his administration started six years ago, a total of 2,729 lightings has been already installed throughout the city of Puerto Princesa. This included 1,804 LED bulbs posted in major roads like Rizal Avenue up to North Road and South Road going to Puerto Princesa Garden all the way to Malvar and other streets; 845 globe lamps that reached the rural communities of Langogan, Kamuning, and Inagawan Sub-Colony; 30 solar lights (25 watts) in barangays Marufinas and New Panggangan; and the initial 50 Signify smart bulbs. “ This is phase 1. There are many more steps remaining,” bared Srinivasan, while noting that they will put up in the next couple of months 638 more smart bulbs and 52 road flares—the balance of 740 units allotted for the first phase of their intelligent lighting project—to have a total of 3,419 lightings for the entire city. “And then after this, his intention is to make the entire Puerto Princesa become The City of Lights.” Bayron, said, “I call upon all of the officials and employees of the city government to join us—the ‘Super Apuradong Administrasyon’ [Super Rushed Administration]. Join us make our people feel that they are special. Our people may forget what we said. Our people may forget what we did. But our people will never forget how we made them feel our love.”

N exciting Earth Hour 2019 awaits as World Wide Fund for Nature (WWF) Philippines teams up with Greenfield Development Corp. (GDC) for the campaign against plastic, #AyokoNgPlastik. Two programs will simultaneously take place at Greenfield District, Mandaluyong City and Greenfield City, Santa Rosa Laguna, starting at 6 p.m. on March 30. The events will feature the unveiling of the exhibit of Harryn Torres, Arman Guitering, Lloyd Lusica, and Jet Bernal on art and sustainability. To be displayed are contemporary paintings, drawings, and artworks in mixed media expressing the theme. Some Earth Hour mementos and nonplastic merchandise will also be available during the event. Moreover, participants will have the chance to show their support through a Commitment Board. But instead of singleuse paper and post-its, WWF and Greenfield will use glow-inthe-dark paint and pens on a blackboard to avoid having carbon footprint. An acoustic band is also slated to perform during the celebration. At Greenfield District, Melody Melo-Rijk, Manager of The Sustainable Diner Project from WWF Philippines will discuss plastic waste management and its role in helping ease environmental degradation, as the district plans to launch its sustainability awareness campaign. “Greenfield Development Corp. is a company that takes action toward environmental sustainability, and we’re really eager to do so in a way that everybody will enjoy,” said Atty. Duane AX Santos, general manager of GDC. Attendees are encouraged to bring their own utensils such as metal straws, tumblers or food canisters to lessen wastage. On March 30, head on over to Greenfield District in Mandaluyong City and Greenfield City in Santa Rosa, Laguna, to enjoy a night of art, learning, and fun while being a part of a global effort to save the environment.

Entrepreneur BusinessMirror

E4 Wednesday, March 27, 2019

Spanish culinary heritage lives on at Alba’s Restaurante Español By Rizal Raoul S. Reyes

@brownindio

Contributor

HEN it comes to cooking and serving delectable Spanish cuisine, Alba Restaurante Español is the place to go. Founded by Don Anastacio de Alba in 1952, the restaurant has developed a legion of followers among Filipinos and expatriates living in the country. Moreover, the Alba patriarch was known as the king of traditional Spanish cuisine in the country. When Don Anastacio passed away three years ago, his son Chef Miguel, an accountant by profession, was tasked to take over the business. To reinforce his knowledge on the culinary front, Miguel also studied at the Center for Culinary Arts. Chef Miguel started as a part-time cashier of the restaurant’s branch at Polaris in Bel-Air, Makati. After a year, he was promoted to inventory controller and later, as a bookkeeper. At present, Chef Miguel is the president of Alba International Inc. and general manager of all five branches of Alba Restaurante Espa-

ñol, holding the torch and keeping Don Alba’s legacy alive. Following the successful opening of Alba’s in Tomas Morato, Quezon City; Westgate Center in Alabang; and at the Prism Plaza at the Mall of Asia Complex, Chef Miguel realized that now is the perfect time to expand and open a new branch at the Estancia Mall in Pasig City. “While we didn’t expand during the last five years, we have invested in the improvement of our commissary facilities, strengthened the back-end of our operations, expanded our deli production, introduced chorizo patties and frozen dishes and prepared financially to open this fifth branch,” he said in a recent interview with the media. Chef Miguel is pleased with Alba Estancia Mall because it is bigger and more celebration-focused venue for families and friends in nearby resi-

dences and corporate offices within the Capitol Commons township who want to get together to celebrate occasions and personal milestones. Chef Miguel’s siblings are involved in various capacities managing various segments of operations. His sister, Pilar, handles catering events and the commissary; his brother-in-law, Sergio, heads the deli production, and his brother, Paulo, is in charge of training and development. Other departments such as finance, purchasing and human resources, are handled by a team of young, competent managers who help run the business like a well-oiled machine. His wife, Cachelle, leads the restaurant’s marketing, PR and digital marketing initiatives to widen their reach. Thus, while Alba is still the top-of-mind for old and regular clientele for the past 20 years, the res-

housewives and freelancers. “[They] bonded together to widen products and services, to share our business knowledge and best practices to the new and aspiring ones, and support each other in reaching out to a wider market,” she said on Monday. Created in October of 2018 by founder Jhodielyn “Nham” Sonit, herself a certified raketera, or a person who juggles with multiple jobs

FILE photo of Caviteñaraketeras Founder Jhodielyn “Nham” Sonit (right) and Cofounder Maricris Ansagay during the “raket day,” the support group’s once-a-year meet-up held in Imus City last December. JHODIELYN SONIT

rant happy. There is no other way,” he said. The future holds much promise for Alba. The family is considering reaching out to Filipino diners in Marikina, Antipolo and even Nuvali. However, their priority as of now is to streamline their existing branches. Despite his 20 years of experience running the company, Chef Miguel hasn’t thought of putting up his own concept restaurant. “Continuing the work of my father and staying true to his legacy is a tough task to follow. So all compliments and good reviews given to us only mean one thing…that we have been doing it right through the years. My father used to tell me to pay attention to the business because the moment I neglect the business, it will neglect me as well, 10 times more,” he said.

Continuing the work of my father and staying true to his legacy is a tough task to follow. So all compliments and good reviews given to us only mean one thing...that we have been doing it right through the years. My father used to tell me to pay attention to the business because the moment I neglect the business, it will neglect me as well, 10 times more.” —Miguel Alba

‘Raketeras’ gain foothold in Cavite MUS CITY, Cavite—They offer various products and services, from ready-to-wear (RTW), beauty products, insurance or just about “anything under the sun.” As they say, name it, and they definitely have it. Cofounder Maricris Ansagay described Caviteñaraketeras as an informal, close group of some 691 women members composed of micro, small and medium entrepreneurs,

taurant also wants to link up with the younger market through PR and social media. Chef Miguel and his team are leaving no stone unturned pursuing innovation to raise the bar of the iconic brand. Alba’s food—which is traditional Spanish comfort food— remains consistent from the day his father opened his first restaurant. This is why despite the emergence of other new and modern Spanish restaurants around, Alba’s staying power is still unmatched to this day. “Competition keeps us on our toes. We have always been clear about the direction of Alba and everything is founded on what my father has started. It’s about putting our heart into everything we do and the relationships we build with people. It’s about the sincerity of service. We want our guests to leave the restau-

and sells just about anything, the community was built to support Caviteñas who are willing to be entrepreneurs or business owners, part time or full time. Sonit, who not only works as a virtual assistant for a Canadian firm but also maintains her own business involving chili garlic and shrimp paste on the side, met Ansagay in a bazaar in December last year. “That’s when we thought of the idea to locate people like us, group ourselves and together create our niche in Cavite’s wide market,” Ansagay said. The women-only group encourages members to earn, upgrade their skills and services, or just to do something productive, and might soon open its membership to men. Members are from Cavite, whether aspiring entrepreneurs or business owners engaged in online selling, business owners with brick-andmortar store, and other servicebased business such as food, crafts and baking. On May 18, dubbed “raket day,” they will meet with new members and get to know new products and find possible suppliers at the City Works Space at the Aguinaldo Highway here. PNA

www.businessmirror.com.ph

Cordillera food fair to showcase indigenous cuisine

AGUIO CITY—Gourmets and other food connoisseurs will have a chance to try out Philippine highland delicacies at the “Mangan Taku: Cordillera Food Fair to be held from April 8 to 14 in this city, also known as the “summer capital” of the country. “The Cordilleran traditional cuisine is passed down from one generation to the next which operates as an expression to our cultural identity. It is also our way of preserving the indigenous culture,” said Department of Tourism-Cordillera Officer in Charge Jovita Ganongan in an interview over the weekend. “We will be bringing in indigenous cuisines from the whole region to Baguio for the locals and tourists to experience a different kind of gastronomic indulgence here in the city of Pines,” she said. Ganongan said that it is important to remember that dishes from the different provinces in the region have a special place in the culture to which it belongs, and is special to those who prepare it. “We should embrace our heritage through food. It is a portal into our culture and it should be treated as such,” she said. The event was aptly timed to take advantage of the hundreds of thousands of tourists who visit Baguio during the sweltering summer months. Philippine Statistics Authority records show that this mountain resort city received a total of 1.5 million tourists in 2017, or 77 percent of the region’s total tourist arrivals of 1.96 million living up with its tag as one of the leading tourist destinations. “Baguio will serve as the host of the Cordillera food fair considering that it is the most visited tourist destination in the region,” she said. Ganongan said that apart from promoting the food culture of the Cordillera, the food fair also aims to showcase the cooking talents of indigenous peoples or IPs. PNA

An entrepreneur bets on the return of the instant soup cup

F all the products gathering dust on supermarket shelves, soup cups have an especially grimy place. First introduced to the US in the 1970s, the ubiquitous foam cups haven’t evolved much in the years since. Now, food entrepreneur and former Barclays analyst Robert Jakobi has introduced a line geared toward millennials, who have embraced similar products such as keto diet-friendly bone broth. His twoyear-old company Bou—an abbreviation of bouillon—makes a range of products, from soup cups to cubes for broth gravy and miso made with non-GMO ingredients. “There were big goliath brands,” Jakobi says, but none were focused on the health-conscious consumer. In February 2017, he secured $800,000 from private investors. By July, he had a product that Whole Foods had

agreed to distribute nationwide. In October 2018, Jakobi closed a Series B with just under $5 million. Bou’s sales were $2 million in 2018, and Jakobi projects triple-digit growth for 2019. Bou products are now available in 6,500 stores across the country including Whole Foods, Sprouts and Wegmans. In August, they’ll land at Wal-mart. The miso cubes are even stocked in the pantry at Facebook Inc.’s New York headquarters. Jakobi’s ultimate goal is to make Bou as ubiquitous in household pantries across the country as its artificially flavored predecessors were. To spread the word, the company has signed such social-media influencers as @brunchboys’s Jeremy Jacobowitz and Food Network star Palak Patel. The flavors range from classic to unconventional. The chicken-and-

noodle cup of soup boasts tagliatelle pasta and vegetables that taste like the carrots and corn they are. The vegetable bouillon has a gentle hit of chile. Best of all are the cinnamon and coconut miso cubes, which create a satisfying, almost creamy broth. The soup cups are recyclable, and the bouillon contains 30 percent less sodium than other brands. Preparation is simple, and the packaging includes illustrated directions. The brown gravy cubes, for example, require just three steps: Add water, stir and pour from a gravy boat onto a plate of food. Still, the bouillon category is not a large one. Just because bone broth kiosks have popped up in places such as Manhattan doesn’t mean you’ll find a Bou soup cup in offices, universities, and 7-11’s across the country. Jakobi plans to change all that. Bloomberg News

7-ELEVEN OPENS 4 FRANCHISE STORES IN CAGAYAN World-leading convenience store chain 7-Eleven recently opened

four outlets in Cagayan Valley as part of its three-year expansion program in Region 2. The new outlets are along College Avenue corner Caritan Highway and at the Valley Hotel on Balzain Road in Centro 11, all in Tuguegarao, Cagayan, and another outlet in Poblacion Solana, Cagayan. The new stores allow 7-Eleven to introduce its wide array of products—both proprietary and popular grab-and-go brands to the Cagayanos. Now with a total of 2,574 stores nationwide, 7-Eleven remains the top convenience store chain in the country. Aside from Cagayan, its recent expansion in North Luzon has also covered the provinces of Kalinga, Tuguegarao, Nueva Vizcaya and Isabela. In photo during the College Avenue store opening are (from left) City Councilor Jude Bayon, franchisees Dra. Leah Pasco, Vito Loyon Jr., Sarah Loyon Madarang, Milagros Loyon, Randy Pasco with son Amet Pasco, 7-Eleven North Luzon Business Unit Manager Reyna Saycon, Operations Director Liwayway Fernandez and Business Development Division Head Ulysses Borral. Philippine Seven Corp., the local licensee of 7-Eleven, offers suitable partners two ways to benefit from a proven system: Regular New Store Franchise (open a new 7-Eleven store), and Property Conversion (convert an established business or properties into a 7-Eleven franchise).