BusinessMirror November 13, 2019

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Wednesday, November 13, 2019 Vol. 15 No. 34

P25.00 nationwide | 5 sections 44 pages |

IT-BPM cuts revenue growth forecast by $7B T

By Elijah Felice E. Rosales

@alyasjah

HE information-technology and businessprocess management (IT-BPM) industry has reduced its growth forecast by nearly $7 billion in revenue and roughly 230,000 workers in employment on uncertainties brought about by domestic and international policies.

Guadalupe Bridge work meant for ‘Big One’

The IT and Business Process Association of the Philippines (Ibpap) on Tuesday said it lowered its growth projections for the ITBPM industry. The industry decided to reduce its revenue and employment numbers for 2022 by double digits on changes in tax policy on the domestic level and See “IT-BPM,” A2

@lorenzmarasigan

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ITH the threat of a catastrophic earthquake h it t i ng t he Ph i l ip pines a certainty albeit with an uncertain timeline, the Department of Public Works and Highways (DPWH) is stepping up its program to strengthen key bridges— starting with Guadalupe Bridge in Mandaluyong—in the Philippines to withstand temblors of up to magnitude 8.

Public Works Secretary Mark A. Villar said his group has created a rehabilitation plan for the Guadalupe Bridge—a critical portion of Edsa that connects the cities of Makati and Mandaluyong—to prepare it for the so-called Big One. “There’s a need to rehabilitate Guadalupe Bridge given the possibility of the Big One happening in Metro Manila. Now, we realize that there is concern [over] traffic, so when we made the plans for the rehabilitation, part of the plan is to construct service lanes on each side,” he told journalists from the ALC Media Group at the BusinessMirror Coffee Club on Tuesday.

He explained that the service lanes will ensure that traffic will continue to flow while the bridge undergoes rehabilitation, adding that the plan is to also speed up rehabilitating other bridges that span the Pasig River in order to provide alternative routes for motorists

The reduction in forecast number of workers employed by the ITBPM in 2022—just 1.57 million workers versus the previous figure of 1.8 million workers

By Cai U. Ordinario

T

more projects to be delivered. We should keep in mind that many flagship projects take several years to build.

As we finish our third year, I believe people will start feeling the full effect of the program,” he said at the BusinessMirror Coffee Club on Tuesday.

See “Guadalupe Bridge,” A4

See “Golden Age of Infra,” A4

See “DPWH,” A2

PESO EXCHANGE RATES n

‘Golden Age of Infra’ on track—DPWH chief

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ILIPINOS are now tasting and seeing the effects of the government’s thrust to improve the state of infrastructure in the Philippines, but these are just bits of what has yet to come, as the country enters the touted Golden Age of Infrastructure starting 2020.

Public Works Secretary Mark A. Villar said the Philippines is mak-

ing strides in implementing the P1trillion “Build, Build, Build” (BBB) program, assuring the public that a good number of projects will be completed within the term of this administration.

“We are in the midst of the Build, Build, Build program—by any metric we are already there. In fact, next year we can expect even

@caiordinario

HE Department of Public Works and Highways (DPWH) will implement P1.2 trillion of the revised list of flagship projects under the Duterte administration.

Documents obtained by the BusinessMirror showed the amount will cover 45 projects now in various stages of development. The DPWH said some of the projects on the list will be completed during the term of President Duterte.

This, as Malacañang on Tuesday attributed the slow pace of the implementation of some “Build, Build, Build” (BBB) projects to unavoidable bureaucratic red tape.

Presidential Spokesman Salvador S. Panelo noted this was not the fault of the BBB implementing agencies, the DPWH and the Department of Transportation (DOTr).

He said these factors, which usually delay BBB construction, include issues on right-of-way or delays in the release of funds.

PUBLIC Works Secretary Mark A. Villar briefs journalists from the ALC Media Group on developments in the “Build, Build, Build” program at Tuesday’s BM Coffee Club forum in Makati City. Villar debunked claims by a senator that the flagship projects initiative is a “failure.” BERNARD TESTA

By Samuel P. Medenilla @sam_medenilla

230,000 M

DPWH to carry out P1.2 trillion of revised flagship list

By Lorenz S. Marasigan

Malacañang certifies ‘sin’ tax hike bill A L AC A ÑA NG on Tuesday officially asked lawmakers to fast-track the passage of the bill raising the rate of “sin” taxes anew.

In a letter addressed to Senate President Vicente C. Sotto III, Executive Secretary Salvador C. Medialdea said President Duterte certified as urgent Senate Bill 1074, or the Act Increasing the Excise Tax on Alcohol Products, Heated Tobacco Products, and Vapor Products.

Duterte said the passage of the new legislation aims to allow the government to generate additional revenue “to support the effective implementation of the Universal Health Care [UHC] Act and to further protect the right to health of the people.”

The Department of Hea lth (DOH) earlier requested for P257 billion to implement UHC next year.

Ho we v e r, t he D e partment of Budget and Management said only P166.5 billion has been allocated for the UHC under the 2020 National Expenditure Program.

Due to lack of funds, DOH said it fully implements the UHC. The Department of Finance (DOF) earlier said the new law for a higher sin tax is necessary since the current revenue streams for the UHC are not enough.

Without the said legislation, the DOF estimates the government will incur a P426-billion funding gap by 2024.

US 50.7170 n JAPAN 0.4651 n UK 65.1967 n HK 6.4814 n CHINA 7.2344 n SINGAPORE 37.2810 n AUSTRALIA 34.7462 n EU 55.9561 n SAUDI ARABIA 13.5242

Source: BSP (12 November 2019 )

A2 Wednesday, November 13, 2019

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Senators push NG to plug tax leakages, hike spending

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By Cai U. Ordinario

@caiordinario

INE agencies failed to use billions of pesos of their budgets, making it difficult to justify the national government’s plan to borrow additional funds, according to Sen. Panfilo M. Lacson.

Lacson, vice chairman of the Senate finance committee, lamented that with the amount lost to tax leakages, as well as low disbursement rates of major infrastructure agencies, the Philippines may no longer need to borrow additional funds.

He cited data from the Commission on Audit (COA) that agencies, including the Department of Public

Works and Highways, Department of Education and the Department of Transportation, have also failed to use P257 billion of their collective appropriations.

“Here we are borrowing more than what we need because we want to build up cash but, every year, we could not use large portions of the budget so it doesn’t make sense. We borrow to use, not to build up the

cash position,” Lacson said during the budget hearing at the Senate on Tuesday.

Sen. Juan Edgardo M. Angara, chairman of the Senate finance committee, and sponsor of the budgets of the National Economic and Development Authority (Neda) and the Department of Finance (DOF), said his panel is cognizant of the low disbursement rates and tax leakages.

Angara said underspending is a “perennial” problem that should be addressed through internal changes. He proposed the reallocation of funds to other agencies that need more money.

He said allocating more funds to the free tertiary education and the Philippine Health Insurance Corp. could improve government’s spending as the state will invest more in Filipinos.

“It’s a perennial problem, underspending. Perhaps, the appetite for spending has grown faster than the capacity to spend,” Angara said.

Instead of borrowing, Lacson said the national government could gain additional funds by plugging leakages to improve tax collection efficiency.

Lacson said the government lost around P161.52 billion in taxes not collected from various imports.

If these tax leakages are plugged, Lacson said the government may no longer have to implement tax reforms to increase revenues.

Citing COA data, Lacson said tax leakages from Chinese imports in 2017 reached P82.18 billion; imports from Korea, P10.73 billion; Hong Kong, P4.56 billion; and the United States, P853.02 million.

Based on their estimates, Lacson said leakages from fuel imports that arrive in economic zones reached P63 billion in 2017.

“According to the secretary of Finance, the agency is trying to do its best. He explained that the discrepancy may be caused by goods that are for transshipment,” said Angara during the plenary.

BIR scored for lower tax take from Pogos

By Jovee Marie N. dela Cruz @joveemarie

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HE Bureau of Internal Revenue (BIR) reported to the House Committee on Ways and Means that it has managed to collect P1.79 billion from Philippine Offshore Gaming Operators (Pogos) in January to September.

However, House Committee on Ways and Means Chairman Joey Sarte Salceda said the amount is “a far cry” from the agency’s target of collecting P2 billion a month in withholding taxes from Pogo workers.

At P2 billion a month, Salceda said tax collection from Pogos should hit P24 billion a year.

“Why would we allow Pogos if we can’t tax them? I support the proposal of Minority Leader Bienvenido Abante Jr. to ban Philippine offshore gaming operations if they refuse to be taxed by the government,”said Salceda following the first hearing on his bill slapping Pogos with a 5-percent franchise tax and 15-percent income tax last Monday.

Abante said he wants to the ban Pogos. “If we are not going to really tax the Pogo thing, let’s scrap it altogether.”

IT-BPM. . .

Continued from A1

escalation of trade conflict on the global scale.

The industry is now just expected to generate revenue of $32 billion by 2022, nearly 18 percent lower from the original projection of $38.9 billion under the IT-BPM road map.

The industry is now forecast to employ roughly 1.57 million workers by 2022, or more than 13 percent below the previous figure of 1.8 million workers. The annual growth rate in revenue was cut to 7.5 percent, from 9.2 percent; while in manpower, to 3.5 percent from 7.8 percent.

The Philippine Amusement and Gaming Corp. (Pagcor) Senior Manager for Policy Development, Jessa Fernandez, told lawmakers that collecting more taxes from Pogos may discourage them from setting up shop and this could affect government revenues.

Currently, the BIR said there are 218 Pogo service providers and 60 Pagcor-registered Pogos operating in the Philippines.

The tax agency said it has issued least 164 letter notices to service providers with total estimated final withholding tax liabilities of P25.13 billion.

Citing Pagcor data, the BIR said 86,172 individuals are currently employed by Pogo service providers. Of the total 14,829, or 17 percent, are Filipinos, while 71,343, or 83 percent, are foreigners. Of the number of foreigners employed by these service providers, the BIR said 62,726, or 88 percent, are Chinese.

Pogo tax bill Salceda, author of the Pogo tax bill, said it is necessary to determine the taxability of Pogos given their proliferation in the country in recent years.

The lawmaker said his proposal tax-

H Karthik, managing partner of Everest Group—the consultancy firm hired by Ibpap to do the recalibration—said employment in the IT-BPM industry will most likely slow down over the next few years, as the labor force adjusts to the changes introduced by new business models and those brought about by innovation, particularly automation.

Karthik added the industry will take damage if geopolitical tensions, such as the trade conflict between the United States and China, and the United Kingdom’s exit from the European Union, remain unresolved.

On the domestic level, the competitiveness of IT-BPM firms will be affected by how the government will carry out its plan to rationalize fiscal incentives.

“Can the Philippines achieve 7.5 percent of growth? It’s possible. However, this requires a lot of things from the industry to outperform itself and several things that need to also work in favor from global perspective,” Karthik said in his presentation of the recalibrated growth forecast

ing Pogos will give the government an additional revenue of P46 billion.

“While the BIR has issued Revenue Memorandum Circular 102-2017 which clarified the tax treatment for these facilities and associated services, a law that settles questions of taxability, through amendments in the National Revenue Code, will once and for all address confusion on the taxation of this emerging industry,” he said.

Salceda added that the measure seeks to definitively answer that Pogos indeed do business in the country, as the services are rendered in the country. The bill also intends to clarify the taxability of Pogo employees. Salceda argued that because Pogos are companies doing business in the country, their employees’income shall be subject to tax.

He said a clear definitive tax regime for Pogos will be a potent revenue source. It will also be a means of placing these facilities under stricter oversight—failure to faithfully report revenues and expenses will constitute tax evasion.

“Codifying the tax regime for Pogos will provide the government a broader set of levers with which to monitor and oversee the industry

at the International Innovation Summit 2019.

Lobby Congress

IN a speech, Ibpap President and CEO Rey E. Untal called on industry stakeholders to keep on conveying to legislators their demand to improve the country’s ease of doing business. He said IT-BPM firms must also be aggressive in carrying out programs that will scale up the skills of their workers in the face of a swinging labor landscape.

As for the government, Untal said it is important to promote infrastructure development within and outside Metro Manila, as this will ensure both the nation’s capital and the regions have the capacity to pull investors, particularly those from the IT-BPM industry.

“The study gave us a lot of insights. From that study that was just presented by the Everest Group, it is clear that we need to take both strategic and sustained actions in specific areas to achieve the maximum Philippine growth potential for the IT-BPM sector,” Untal said.

In 2017 the industry took a hit from concerns on protectionism brought about by the ascent to power of President Donald J. Trump,

and to stabilize the gyrations in tax revenue intake and enforcement,” said Salceda.

Among the amendments proposed by the bill is the imposition of a tax of 15 percent on the salaries of foreigners employed and assigned in the Philippines by an offshore gaming licensee. The tax rate will apply to foreigners earning a minimum gross annual income of P250,000.

House Bill 5267 also proposes an additional tax on franchises. Specifically, there shall be an additional tax of 5 percent on all offshore gaming companies on gross receipts derived from gaming operations covered by the law granting the franchise, on top of the taxes already imposed under the National Internal Revenue Code.

House Committee on Economic Affairs Chairman Sharon Garin of AAMBIS-OWA said the proper taxation of Pogos will give be a boon to the Philippines.

Citing recent reports, Garin said the country is one of the few Southeast Asian countries that allow offshore gaming.“This is a big chance for our country, actually, to gain ground in this industry. It’s expected to be a $60-billion industry.”

who imposed protectionist policies in a bid to bring back investments and, consequently, jobs to the US. Things got worse for the sector the following year. The government began pushing for the passage of the Tax Reform for Attracting Better and High-Quality Opportunities (Trabaho) bill that seeks to reduce corporate income tax (CIT) at the expense of incentives enjoyed by investors.

The Trabaho bill of the 17th Congress—which hurdled the House of Representatives but failed to pass the Senate—was refiled in the 18th Congress and was renamed Corporate Income Tax and Incentives Rationalization Act (Citira) bill.

Mostly located in economic zones, IT-BPM firms will need to give up their incentives once the Citira bill is enacted into law. The measure will bring down the CIT rate to 20 percent by 2029, from 30 percent at present, but will rationalize the menu of tax perks granted to firms operating in economic zones.

Among those that will be rationalized is the 5-percent tax on gross income earned paid in lieu of all local and national taxes, which investors find crucial in maintaining their operations in the Philippines.

www.businessmirror.com.ph

Labor to DOLE: Make sure mall operators pay for longer hours

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S the holiday season nears, the Department of Labor and Employment (DOLE) must be wary of mall operators who refuse to give their employees overtime pay, according to a labor group.

Par tido Mang gagawa (PM) Chairman Renato Magtubo issued the reminder to the DOLE on Tuesday as malls started extending their operating hours to accommodate more clients.

Some mall operators, Magtubo noted, have opened their establishments for a longer period of time, sometimes up to 12 hours, from the usual eight hours.

The longer working hours will entitle concerned mall workers additional benefits like overtime pay and night differential pay.

Magtubo said his group supports the adjustment in operating hours as this was done to help ease traffic congestion in the Metro, especially

during the holidays.

The problem, he said, is that some mall operators might not faithfully pay their employees their hard-earned benefits that are stipulated in the Labor Code.

“We call upon the DOLE to strictly monitor compliance of labor standards laws by mall employers during and after this policy of adjusting mall hours of work,” said Magtubo.

He said mall workers should also remind their employers to give them the benefits mandated by law.

Mall operators have agreed to the Metropolitan Manila Development Authority’s request to adjust their operating hours starting this month to ease traffic congestion.

From 10 a.m., mall operators have agreed to open their stores at 11 a.m., Monday to Friday, until January 10, 2020. Samuel P. Medenilla

Treasury awards in full ₧20-B T-bonds on offer

By Bianca Cuaresma

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@BcuaresmaBM

HE Bureau of the Treasury (BTr) awarded the full P20 billion on offer for reissued 10-year Treasury bonds (T-bonds) during its auction on Tuesday.

The government said the Auction Committee fully awarded the reissued 10-year Treasury bonds.

The 10-year T-bond fetched an average of 4.617 percent and the auction was nearly 1.5x oversubscribed, attracting tenders of P29.3 billion.

As it was able to raise the full P20 billion of the programmed offering, the BTr said this brings the outstanding volume of the series to P140 billion.

The BTr’s 10-year T-bonds carried a coupon rate of 6.875 percent with a maturity date of January 10, 2019.

The average rate of Tuesday’s offer was higher compared to the

DPWH. . .

Continued from A1

Panelo was responding to the criticism by Minority Leader Franklin Drilon that only nine projects, or 2 percent of the 75 flagship infrastructure projects under BBB, have begun construction.

Drilon said it is unlikely the administration can complete all the 75 by 2022, when President Duterte’s term ends.

Panelo called Drilon’s assessment “baseless,” insisting more than nine of the 75 BBB projects have already started.

The concurrent presidential chief legal adviser, however, said they will also ask Public Works Secretary Mark A. Villar to provide further details on those projects which have been delayed.

Even with the delays, Panelo said Duterte maintains his trust for DPWH and DOTr.

Construction frenzy MEANWHILE, Villar told this newspaper in a roundtable discussion on Tuesday that the more robust list of flagship projects belies claims that the Build, Build, Build program has failed.

“If you look around, you don’t even have to look any further. Everywhere you see, every area, there’s construction,” Villar said. “We expanded the list and made it more efficient.” The list has 28 projects currently under construction; four undergoing detailed engineering; and three under procurement.

The DPWH also included five projects undergoing feasibility studies, and another five to be submitted to the National Economic and Development Authority (Neda) Board for approval.

The largest project is the 18.07-kilometer (km) Panay-Guimaras-Negros Link

BTr’s 10-year T-bond issuance in August, when it fetched an annual rate of 4.196 percent.

In September, the BTr rejected all bids for the reissued 20-year Tbonds as bid rates trended higher compared to the secondary market benchmark and the rate in the last reissuance.

“Bids came in higher than secondary market levels and even in the last auction, and we feel that, given the inflation path and the actions from the BSP [Bangko Sentral ng Pilipinas]...that the rates should not be heading where it is based on the bids,” Deputy Treasurer Erwin D. Sta. Ana told reporters in September.

In October, the BSP let out another cut in the banks’ reserve requirement ratio (RRR) by 100 basis points. The reduction will be effective on the first day of the first reserve week of December 2019.

Bridge, estimated to cost P211.94 billion and being proposed for Chinese financing. It is undergoing feasibility study.

It involves building two sea-crossing bridges, including connecting roads and interchanges linking Panay Island to Guimaras Island, and Guimaras Island to Negros Island.

Another big-ticket project is the Bataan-Cavite Interlink Bridge (BCIB) worth P187 billion. The project, undergoing feasibility study, is also proposed for Official Development Assistance (ODA) funding.

The 32.1-km project involves the construction of viaducts (marine and land) and two long span bridges connecting Mariveles, Bataan, to Corregidor to Naic, Cavite.

The smallest project is the reconstruction and rehabilitation of the 18.97-km Marawi Transcentral Road, to cost P970 million.

The project, financed by a grant from the Japan International Cooperation Agency (Jica), is expected to be completed by June next year.

Recalibration IN September, Neda sources told this newspaper that the national government is recalibrating flagship projects “to catch up with the Build, Build, Build agenda.”

The recalibration could lead to an increase in the number of flagship projects of the Duterte administration. One source said some projects could be “reprioritized due to technical constraints,” while feasible projects may be added to the flagship list.

The Neda source said the process aims to create more viable and sustainable projects. This is crucial since a number of the flagship projects will be completed after 2022.

With Samuel P. Medenilla

A4 Wednesday, November 13, 2019 • Editor: Vittorio V. Vitug

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Recto to PNP: Simplify gun-licensing process

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By Rene Acosta

@reneacostaBM

ENATE Pro Tempore Ralph G. Recto is urging the government, particularly the Philippine National Police (PNP), to simplify the existing gun permit and licensing documentation by capping a uniform date for their renewal and expiration as he noted that the current system covering the regulation “is so disjointed.”

Recto wanted the existing Comprehensive Firearms and Ammunition Regulation Act amended by pushing for the streamlining and harmonization of the permit and licensing schedules, noting that tens of thousands of gun owners, who were “fatigued by the ordeal of securing permits,” have opted not to renew their papers because of the complicated system.

In his sponsorship speech of Senate Bill 1155 that seeks to institute changes in the gun permit and license law, Recto proposed to bundle all applications under one filing date, which is the birthday of the applicant, or the licensee.

He said his proposal is exactly the same with the rule covering an application for a driver’s license.

At present, for every gun a person owns, he has to secure up to three permits from the PNP. In pushing for the amendment, Recto noted that if one has to own and even carry a gun, he has to go through three processes.

One is the firearm registration, which must be renewed every four years.

Second is the License to Own and Possess Firearms, which must be renewed every two years, and third, if one has applied for and qualified for it, is the Permit to Carry Firearms Outside of Residence or Place of Business, which must be renewed annually.

“In almost all cases, these permits expire and thus must be renewed on different dates. So if one has two guns, he has to go through 14 sepa-

rate applications in four years,” the senator said.

Recto clarified that the proposed changes would not make easy for any Filipinos to own a firearm.

“On the contrary, it retains all the hurdles in buying one,” he said. “It does not shortcut the process, nor shorten the list of requirements. The present battery of tests remains.”

The senator said the requirement in owning a gun like the current police, medical, judicial clearances will stay and not any of the required seminars will be scrapped.

“None of the documentary requirements, including tax returns from certain type of applicants, will be discarded. In other words, it does not lower the bar for gun ownership,” he also said.

According to him, what his proposal will address, are the challenges that he and the other gun owners have personally experienced in securing gun licenses.

“Instead of different expiry dates— four years for registration, one year for the permit to carry, two years for the license to own—this bill seeks to grant the registration and license to own a uniform validity of five years, while the permit to carry a validity of two years,” Recto said.

“Synchronizing the application period will not, however, leave the government shortchanged. By and large, current fees will be retained. So there will be no loss of income on the part of government,” he also said in explaining his proposed amendments.

SBMA says no port charges for ‘overstaying’ Viet fishers Clash leaves 6 soldiers, NPA

By Henry Empeño

Correspondent

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UBIC BAY FREEPORT—For humanitarian reasons, there will be no port charges at all for the Vietnamese fishing boats that sought shelter in Subic Bay due to bad weather last week, the Subic Bay Metropolitan Authority (SBMA) clarified on Tuesday.

Contrary to news reports that the SBMA threatens to fine the “overstaying” Vietnamese fishermen, the Subic agency doesn’t seek to impose port charges on Subic’s unexpected visitors, said SBMA Senior Deputy Administrator Ramon O. Agregado.

He said the SBMA management has recommended to the board of directors not to impose port charges in this case “for humanitarian considerations” even when port charges are obligatory for all vessels docking, or anchoring on the bay.

The measure, he added, has been endorsed by SBMA Chairman and Administrator Wilma T. Eisma who is now in the United States for a trade mission.

Agregado said the November 7, 2019, letter by the SBMA Seaport Department to the Olongapo Coast Guard Substation, which mentioned

A VIETNAMESE fishing boat, one of the three that remained anchored on Subic Bay last Tuesday, is silhouetted against the backdrop of the closed Hanjin shipbuilding facility at the Redondo Peninsula.

the imposition of port charges on the stranded fishing vessels, “was simply a procedural reminder and a statement of policy, considering that the vessels entered Subic Bay without authorization.”

“But even that letter, which was unfortunately interpreted by some as a threat, mentioned that the SBMA allows sheltering during such incidents,” Agregado pointed out.

“It would be the height of insensitivity for anybody to fine these

Guadalupe Bridge. . . continued from a1

opting not to use the expectedly narrower service lanes.

“There’s no scenario where we will close Guadalupe Bridge. Guadalupe is really critical, but we understand that closing Guadalupe will cause a armageddon. It really needs to be done and we have to do it soon,” Villar said.

Once completed, Guadalupe Bridge, he said, will be able to endure quakes of huge magnitudes.

To mitigate the traffic congestion that the rehabilitation program may

cause, Villar said his group is banking on the completion of two other bridges that connect the cities of Makati and Mandaluyong.

“We’re trying to push towardsthe end of next year [to] also finish the two bridges crossing Pasig River, which are Estrella-Pantaleon, and Santa Monica-Lawton so that they will also minimize the effect when we rehab Guadalupe,” he said.

The Estrella-Pantaleon Bridge connects Mandaluyong and Makati

Golden Age of Infra. . . continued from a1 By disbursements alone, the Department of Public Works and Highways (DPWH), he said, is on

track to obligate P2 trillion worth of projects—some of which are included in the list of infrastructure

Vietnamese fishermen who only sought succor in our shores due to bad weather,” he added.

According to the SBMA Seaport’s Port Operations Division, the Vietnamese fishing vessels entered Subic Bay on November 6, 2019, without requesting for entry clearance from port authorities.

However, officers from the SBMA Law Enforcement Department’s Harbor Patrol and the Philippine Coast Guard found out

through a two-lane truss structure that crosses the Pasig River. The existing bridge is currently being replaced by a prestressed concrete rigid frame bridge with corrugated steel webs with a four-lane concrete deck slab of approximately 506.46 lineal meters.

On the other hand, the Santa Monica-Lawton Bridge is a 613.77-meter, four-lane bridge across Pasig River connecting Lawton Avenue in Makati City and Santa

upon boarding the vessels that no one among the crew could speak English. This explained why the Vietnamese were not able to communicate with port authorities during arrival.

Upon learning that the foreign fishermen were seeking shelter from the storm, Subic port officials allowed them entry and anchorage on the bay.

Local officials and residents in the Subic Bay area also provided assistance by way of food and drinking water that the foreign fishermen lacked on board.

Agregado said the Vietnamese Embassy in Manila had in fact requested concerned agencies of the Philippine government to provide necessary assistance in case any Vietnamese fishermen sought shelter in Philippine waters because of the low-pressure area at that time.

However, the embassy letter dated October 31, 2019, did not reach Subic port authorities before the fishermen actually entered Subic Bay, he added.

Of the six Vietnamese fishing vessels that sought shelter here last week, three still remained on anchor in Subic as of Tuesday.

Monica Street in Pasig City.

“No one knows when the Big One will happen, but we have to be prepared. We have to make sure that all our bridges can withstand at least an eight-level earthquake,” Villar explained.

The Big One, according to the Philippine Institute of Volcanology and Seismology (Phivolcs), will be a catastrophic quake that will be caused by delayed surface-rupturing events of active faults.

rebel dead in Eastern Samar

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USPECTED communist rebels clashed with military troops in Borongan City, Eastern Samar, late Monday afternoon, killing six soldiers and wounding 20 others, police and military officials reported on Tuesday.

A rebel was also killed during the 30 minute firefight, which began at around 5 p.m. in Sitio Bangon, Barangay Pinanag-an, according to Capt.

Reynaldo Aragones, spokesman of the Army’s 8th Infantry Division.

The casualties from Monday’s encounter was the biggest yet for the military since it accelerated the campaign of ending the communist-inspired insurgency through the various Task Forces to End The Local Communist Armed Conflict.

Aragones said elements of the 14th Infantry Battalion (IB) were on their way to Pinanag-an when they encountered at least 50 rebels, triggering a firefight, wherein the rebels reportedly exploded six land mines.

“They encountered the NPA [New People’s Army] terrorists who employed several improvised antipersonnel mines. Our soldiers fought back and after 30 minutes of intense

firefight, the enemy withdrew in different directions,” Aragones said.

“The firefight resulted to six killed in action on the government side, while one NPA rebel was killed,” he added, as he asked that the names of the soldiers be withheld pending notification of their relatives.

Aragones said the soldiers went to the barangay following persistent reports from civilians that the rebels were “extorting money and foodstuff” from farmers of Barangay Pinanag-an and its adjacent areas.

A separate report from Eastern Samar Provincial Police Director Col. Carlito Abriz said that 20 other soldiers were also wounded during the firefight, adding that the village, which he identified as “Pinana-an” was a rebel-influenced barangay.

The police official said the encounter, which transpired in the remotest part of the barangay, involved three platoons of the 14th IB. “The nearest possible extraction point that can be reached by a fourwheel vehicle is around 12 kilometers air distance in the vicinity of Barangay Canloterio, Maydolong, Eastern Samar,” Abriz said in describing the encounter site. Rene Acosta

briefs

D.O.J. SEEKS PHDO VS. GENEROSO SLAY SUSPECTS

JUSTICE Secretary Menardo Guevarra on Tuesday directed government prosecutors to secure a precautionary Hold Departure (PHDO) to prevent the suspects in the killing of radio broadcaster Dindo Generoso from leaving the country to avoid possible prosecution.

Guevarra told reporters that he has instructed the Dumaguete City Prosecutor’s Office (OCP-Dumaguete) to apply for a PHDO before the court following the filing of a murder complaint against businessman Tomasino Aledro and three other suspects.

Aside from Aledro, authorities identified Police Corporal Roger Rubio, retired policeman Glenn Corsame and Teddy Salaw as those behind the killing of Generoso.

A PHDO is issued by a court if a case is still undergoing preliminary investigation before a prosecutor.

This is different from an HDO which is issued also by a court once charges have been filed before it. Joel R. San Juan

SENATE EYES SCRUTINY OF D.O.E., N.E.A. 2020 BUDGETS deals of the BBB Program—by 2020.

“You can see the scale, and it’s really massive in terms of volume.

Coming into next year we can expect to see inaugurations happening one after the other,” Villar said.

“The Golden Age of Infrastructure is happening as we speak. We see the momentum. The floodgates will open in terms of projects.”

Today, the DPWH—mostly through the Public-Private Partnership Program—has helped ease up traffic congestion in Metro Manila.

It has opened key portions of certain expressways, such as the Skyway and the Harbor Link for motorists.

“The day will come and we’re not that far away w e ’r e a l m o s t there. We’re just seeing tastes today,” Villar said.

Villar heads the Duterte adminis-

tration’s key infrastructure thrust.

The government hopes to complete almost a third—or about 24 projects for the DPWH alone—of the critical infrastructure list within the term of President Duterte. These include nationally dispersed, key infrastructure, such as bridges, expressways, disaster relief and reduction facilities, and national roads, among others.

He said the government is inching closer to the Golden Age of Infrastructure such that it will deliver one critical piece of infrastructure by April 2020, the third stage of the Skyway System. This is expected to remove as many as 100,000 vehicles from Edsa and cut travel time from Makati to Balintawak to as fast as 20 minutes from almost two hours today.

“The plan is by the second half of the administration, you’ll be able to see the influx of all these major infrastructure, then before this administration’s term ends you will feel that Golden Age — that I guarantee,” Villar said. Lorenz S. Marasigan

THE Senate is poised to mount a thorough scrutiny of the Department of Energy’s (DOE) P2.3-billion budget for 2020 and separate P14.147-billion budget for the National Electrification Administration (NEA), amid concerns that annual funding for the country’s Total Electrification Program (TEP) could be diverted as “pork barrel, or slush fund.”

Sen. Sherwin T. Gatchalian, chairman of the Senate Committee on Energy, stressed the need to mount an inquiry, citing track records of the two agencies failing to meet yearly targets earlier set to achieve the goal of the TEP. Gatchalian lamented that while Congress consistently provided adequate funds in the annual budget for the DOE and NEA to achieve the country’s full electrification, the goal has not been achieved. Butch Fernandez

‘SAPATOS FESTIVAL’ OPENS IN MARIKINA FROM NOV. 11 TO DEC. 29

A TOTAL of 48 footwear and leather-goods makers are participating in this year’s “Sapatos Festival” from November 11 to December 29, 2019, at the Marikina Freedom Park, in front of the city hall, in a bid to boost the local shoe industry in Marikina City, known as the shoe capital of the Philippines.

City Mayor Marcelino Teodoro said this year’s festival, which opened last Monday, is showcasing quality and affordability shoes, bags, belts, and other products made by Marikina’s skilled craftsmen. The festival also highlights the ingenuity and craftsmanship of Marikina shoemakers and manufacturers.

Since the olden days, the shoe industry had played very significant part in the city’s economy, the mayor said.

Marikina-based Philippine Footwear Federation Inc., headed by Chairman Antonio Andres, joined the bazaar since he is also the owner of Gibson’s.

Also, 71-year-old Orlando “Tatay Orly” Santos, who made the shoes worn

by President Duterte in his annual State of the Nation Address, participated in the bazaar. Claudeth Mocon-Ciriaco

Economy BusinessMirror

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Editor: Vittorio V. Vitug • Wednesday, November 13, 2019 A5

PHL sales at China expo doubles to $300 million

T

By Elijah Felice E. Rosales

@alyasjah

HE Philippines has doubled its sales to roughly $300 million in this year’s China International Import Exposition (CIIE) on strong demand for the country’s tropical fruits.

Trade Secretary Ramon M. Lopez said the Philippine delegation’s sales to the CIIE grew more than twice to $300 million this year, from $124 million last year. The country’s best sellers at the trade show were bananas, pineapples, mangoes, durian,

as well as processed fruits and nuts and coconut-based products.

Led by Lopez, the Philippines sent a 139 strong delegation, of which, 32 are food exhibitors to the second edition of the CIIE—the first dedicated import expo in the world

and one of China’s largest trade shows—in Shanghai.

With increasing sales in the CIIE, Lopez said the government is eyeing to increase the number of participants the Philippines will send to next year’s run of the Chinese expo. He also called on suppliers to augment their production to exploit the rising demand for Philippine products in China due in large to improved trade ties and the conclusion of the Regional Comprehensive Economic Partnership (RCEP).

“The big jump in sales since the last CIIE proves that China sees the Philippines as a significant source of agricultural and other products. This motivates us to continue our efforts in getting more exhibitors to the

“The big jump in sales since the last CIIE proves that China sees the Philippines as a significant source of agricultural and other products.

This motivates us to continue our efforts in getting more exhibitors to the CIIE, as well as improving trade relations and market access through the conclusion of the RCEP. Suppliers, on their part, should increase their production to answer the demand of the Chinese market.”— Lopez

CIIE, as well as improving trade relations and market access through the conclusion of the RCEP. Suppliers, on their part, should increase their

production to answer the demand of the Chinese market,” Lopez said in a news statement issued on Tuesday.

The CIIE is considered as one of China’s largest expos, hosting over 150,000 buyers from more than 100 countries. With an exhibition area of 240,000 square meters, it is a professional trade show for seven major industries and has a potential import market of $10 trillion.

In spite of these overwhelming numbers, Lopez said Philippine products stood out in the CIIE for their quality and received approval from foreign buyers.

Many Chinese consumers lined up to try the food items the Philippine delegation brought and displayed in its food pavilion. Among

the food manufacturers that presented their products to the Chinese market are Century Pacific Food Inc., San Miguel Corp., Monde Nissin Corp. and Fisher Farms Inc. Merchandise trade between Manila and Beijing last year went up 8.71 percent to $27.71 billion, from $25.48 billion in 2017, according to Philippine Statistics Authority data.

The Philippines has been enjoying warmer economic ties with China under President Duterte, who secured many trade and business deals during his numerous visits there. However, critics claimed these deals were obtained at the expense of the country’s maritime claims in the West Philippine Sea, which Beijing has been eyeing for its strategic role to international trade.

Senator prods Palace to certify pay hike bill for state workers

By Butch Fernandez @butchfBM

S

ENATE President Pro Tempore Ralph G. Recto is reminding Malacañang on the need to pass the proposed Salary Standardization law V, or SSL V, embodying the pay hike bill.

In a news statement issued on Tuesday, Recto noted that the year is about to end, but Congress is still waiting for the Palace-certified pay hike bill that will enable the Senate and the House of Representatives to

promptly pass the pay hike measure on second and third reading in one sitting.

“Mag-di-Disyembre na, ni anino ng Salary Standardization law V wala pa. Malamig na simoy ng hangin, wala pa rin ang panukala na nagtataas ng sahod ni titser ang ating naamoy,” Recto said, adding, “When will it come out of the Palace kitchen? ‘Please expedite’ is not one marginal note we would like to send them, but a big shout out.”

Recto recalled that Malacañang earlier “promised to increase the

salaries of civil servants through SSL V, the Duterte Edition.”

The Senate leader pointed out that the money for the pay increases, amounting to P31.1 billion, has been “preparked” in the 2020 national budget.

“The money is there, the bill on its use will come later,” Recto said.

“And there is nothing wrong with putting the cart before the horse, as it assures government employees that a salary increase is a done deal.”

He explained that the SSL V would require a separate law. “It

cannot be a rider in the General Appropriations Act. It also cannot be implemented via an executive order. It can only be authorized by a congressional act. After the uniformed services had their salary increases two years ago, the government is duty-bound to extend the same to civilian government employees.”

Recto reminded that “it was a promise made to them, that after their uniformed counterparts have received theirs, the one for them will follow soon. It is time to redeem this promissory note.”

The Senate President Pro Tempore said he can only “surmise that the Palace is having a hard time calibrating the increases, and apportioning how much each one would get.”

“And, yes, this is not an easy exercise to pull off, as the government pay scale has 33 grades, with eight steps each, meaning 258 different pay grades must be attached with new amounts,” he added.

According to Recto, “the fact is, the pie, when cut, will result in not so big slices. P31.1 billion divided by 1.391 million civilian

employees, and divided further by 13 months will result in an average P1,718 monthly increase per employee. Ito ay sa unang taon na down payment. Baka naman sa susunod na mga taon—as the SSL V will be paid out in several yearly installments— ay mas malaki na.”

Conveying the senators’ sentiment, Recto affirmed that “our early Christmas wish is for the Palace to submit the bill soon, so that Congress can debate on it, and bring it to the President’s table for his signature before Christmas Day.

A6 Wednesday, November 13, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Recurring nightmare of PHL businessmen

J

UST a few months after government officials found a way to ease the port congestion problem that started in 2018, a group of businessmen have warned of its recurrence before the end of this year. The Cold Chain Association of the Philippines made this warning last month, following the outbreak of the dreaded African swine fever, which prompted local government units to ban pork products in their areas (See, “LGU blockade on pork products may cause congestion at ports,” in the BusinessMirror, October 28, 2019). The ban, according to CCAP, could cause shipping containers to pile up in the country’s major ports.

For years, the country’s major ports, particularly those in the National Capital Region (NCR), have been grappling with the port congestion problem during the holidays, when there’s a substantial increase in import volume. However, the problem became more pronounced in 2014 when former Manila Mayor Joseph Estrada decided to ban trucks from the city’s streets from 5 a.m. to 9 p.m., Monday to Saturday. The former president turned city chief executive implemented the scheme to ease traffic in Manila.

While the truck ban helped decongest Manila’s streets, the congestion worsened at the city’s ports. As container vans piled up while the traffic scheme was in place for months, businessmen lost a lot of money because of the delays in transporting goods. The crisis forced the national government to create a task force that devised strategies to move cargoes out of the ports.

Regulators and experts have attributed the port congestion problem to a number of factors, including the fact that the Philippines is a net importer of food and fuel. The expansion of the country’s population, as well as the improvement in the purchasing power of Filipinos would compound the situation in major ports. This is because the increase incomes of people will hike demand for meat products and durable goods, such as cars.

Technocrats can say that the port congestion problem is a sign of economic progress, but if this is allowed to continue, it could hurt the bottomline and efforts of the Philippines to attract more foreign investments. As it is, logistics cost in the Philippines is already uncompetitive, according to a study undertaken by the Department of Trade and Industry, and the World Bank.

The findings of the study, which were released in December 2018, revealed businessmen in the Philippines spend the most on logistics compared to those in four Southeast Asian competitors (See, “PHL logistics costliest among 4 Asean nations,” in the BusinessMirror, December 7, 2018).

Dealing with the port congestion problem, according to a paper published by the Congressional Policy and Budget Research Department in 2015, requires long-term solutions. While stop-gap measures helped ease the congestion in 2014, industry stakeholders and government officials recommended a number of long-term measures to prevent the problem from recurring. The top 3 prescriptions, according to the CPBRD paper, are upgrading and modernizing the country’s infrastructure, using Batangas and Subic as alternative ports, and the implementation of a national integrated transport plan.

Businessmen can take comfort in knowing that help is on the way.

Public Works Secretary Mark A. Villar assured during the BusinessMirror’s Coffee Club Forum on Tuesday that long-term solutions to the port congestion problem will soon materialize. In the years to come, one of the youngest members of President Duterte’s Cabinet vowed that businessmen will no longer have to grapple with the nightmare at the ports that has hounded them for years.

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Another successful 9th OFW & Family Summit Susan V. Ople

SCRIBBLES

T

HEY came from different parts of the country, in what has become an annual pilgrimage of sorts. I refer to Monday’s Ninth OFW & Family Summit convened by the Villar SIPAG Foundation, which was held at the World Trade Center in Pasay City. Thousands of overseas Filipino workers (OFWs) and their families attended the event, hosted by no less than Sen. Cynthia Villar and daughter, Rep. Camille Villar. Present to cheer the hardworking mother and daughter team on was former Senate President and leading businessman Manny Villar.

The summit brought together successful OFW entrepreneurs, representatives of government agencies, and even entertainers courtesy of the GMA Network with no less than GMA International Head of Operations Joseph Francia accompanying the talents. All these guests made for an exciting day for the modern-day heroes present, many of who were sukis of the summit, since the first year it was launched.

This writer was invited to serve as moderator, alongside the highly entertaining and astute Arnell Ignacio during the afternoon session involving a panel of distinguished government representatives. Arnell had served as deputy administrator of the Overseas Workers Welfare Administration where he left a huge imprint as one who cares for the rights of our OFWs. Joining the

government panel were Finance Undersecretary Sarah Arriola, Justice Undersecretary Emmeline AglipayVillar, POEA Deputy Administrator Aristodes Ruaro and OWWA Director Anne Gregorio.

The government representatives reminded the OFW audience to stay away from illegal recruiters and human traffickers. Arriola said that the Philippines has no bilateral labor agreement with the United Arab Emirates that would warrant the sending of domestic workers to Dubai. “Do not leave the country as tourists because as tourists you are not allowed in Dubai,” the DFA official said.

She also invited the OFWs present to “like” and follow the OFW Help Facebook Page of her agency, and to post messages whenever emergency assistance is needed.

“Please do not post messages inquiring about passport services.

We opened this page specifically for emergency cases involving distressed OFWs,” she said.

In behalf of the Department of Justice, and specifically the InterAgency Council Against Trafficking, Aglipay-Villar urged the OFWs to know their rights and to seek government assistance when human trafficking is involved.

She explained the different types of trafficking in persons, and also reminded the overseas workers that it is against the law for foreign employers to take away the passports of Filipino workers and to deprive them of their basic rights. “Do not think that if you complain about a human trafficking case involving your loved ones that we will run after and arrest the person who was exploited.

We are after those responsible for the exploitation of our OFWs, regardless of whether the worker consented to leave or not.”

The Philippine Overseas Employment Administration sent Deputy Administrator Aristodes Ruaro to the summit with a call to action: in case of doubt on the validity of job orders and contracts, get in touch with the POEA. The agency also has a one-stop center to assist overseas job applicants. He also gave information regarding the government-togovernment arrangement between the Philippines and Israel that would initially require at least 1,000 hotel workers.

In behalf of OWWA, Gregorio gave updates regarding OFW rebates and its ongoing scholarship

Turkey’s digital tax will inspire others

By Sinan Ulgen Bloomberg Opinion

T

HE global debate on innovation and regulation is about to take a new turn with a Turkish plan for an all-encompassing digital tax. The tax, which is expected to be approved by parliament this week, will apply not only to electronic marketplaces like eBay, and digital-advertising giants like Google and Facebook, but also to e-commerce platforms involved in the sale of digital goods and services, like Spotify and Netflix.

This goes beyond the scope of the French digital tax which entered into force a few months ago and the abortive European Union proposal of last year. Turkey’s proposed tax has rekindled the debate on the fairness of globalization and the role of international governance. The severity of the regulatory framework being contemplated is in many ways a by-product of the failure of multilateralism and its inability to redress the grievances of nations that perceive the system as being rigged against their economic interest.

National governments have long grappled with the need to tax the

digital behemoths. Authorities in Europe and in the emerging world are seeking a formula that would give them tax revenues that reflect the share of business conducted by these global companies on their territory.

They’ve tried direct negotiations with companies, with mixed results.

In the absence of common taxation rules applicable in all relevant jurisdictions for cross-border digital transactions, there have been several nonreplicable, nontransparent individual deals between governments and companies. The companies have failed to achieve their aim of policy and tax predictability, governments have struggled to get the buy-in of companies for easily transposable settlements.

You’d think the disparate approach to taxing Internet-enabled business models and its impact on the distributional benefits of globalization would provide an ideal opportunity for multilateral governance to demonstrate its effectiveness. The G-20, in summit declaration at Buenos Aires, has acknowledged the importance of a global deal on digital taxation.

The Organisation for Economic Cooperation and Development (OECD)

has advanced an agenda for a set of common rules. But multilateralism has so far failed to produce the consensus needed to address ongoing divisions—whether between companies and governments, or between nations like the United States and China, that have nurtured large digital companies, and the rest of the world.

The failure of the multilateral track has now provided an opening for nonconsensual and protectionist digital policies to emerge. What can be witnessed in this area is a race to the bottom. Following the example set by France, Turkey is seeking to tax digital companies at 7.5 percent, more than double the French rate. What’s more, the tax is to apply regardless of whether the companies are profitable or not.

It is not clear whether the proposed measures comply with Turkey’s international obligations under the World Trade Organization, or under its bilateral tax treaties. Even if they are, there are concerns that a digital tax would serve as a disincentive for foreign investment in a booming industry where Turkey had succeeded in creating a dynamic ecosystem. Turkey is home to highly successful mobile-gaming creators, as well as Turkish-language

programs. There was a lot of interest in the OWWA rebates scheme with some elder OFWs wanting confirmation as to their eligibility to apply given the length of time involved from the time they departed to the time they have settled in the country. Gregorio urged those interested in the rebates of OWWA to visit any of their regional offices, or to call the OWWA hotline 1348.

The summit came to a close with a touching message from Senator Villar who thanked all those present for making her No. 1 in the 2019 senatorial elections. The OFWs and their families cheered their appreciation, knowing that the Villar family has consistently been always there for them.

A lucky OFW family member went home with the grand prize, a house and lot from Lessandra by Camella, others left with smaller raffle prizes from home appliances to a motorcycle; everyone went home happy to be part of an annual summit with entrepreneurial advice and government reminders to cherish and reflect on.

Next year, the pilgrimage begins again, once November comes about.

Meanwhile, we congratulate the Villar SIPAG Foundation and, of course, the indefatigable Senator Villar and her very supportive family, for bringing thousands of OFWs and their families together, if only for that one single Summit day.

Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues.

She also represents the OFW sector in the InterAgency Council Against Trafficking.

Android and iOS apps.

Even so, there’s a good chance the Turkish example will be followed by governments in other emerging nations that believe that the industrialized world—and by extension, the multilateral system—has for too long been unresponsive to their anxieties about the consequences of unfair globalization. A fragmentation of global regulations affecting the digital economy is afoot.

The multilateral institutions may have one last chance to stop the trend.

The OECD is holding a stakeholders meeting this week to gather views on its proposed approach to taxing the digital economy. The plan is for a set of proposals to be formally adopted by the G-20 at its meeting in Riyadh next year. But any agreement will be conditional on the Trump administration demonstrating flexibility toward the expectations of the other OECD nations. The hope is that the US will ultimately see that a set of common tax rules, even if it would impact the few American digital giants, would still be a better outcome for the global economy than a grab bag of divergent approaches to regulating and taxing digital entrepreneurship.

Opinion BusinessMirror

www.businessmirror.com.ph

Wednesday, November 13, 2019 A7

Never say never to forever bonds Germany won’t enlist in Macron’s European army

By Stephen Mihm Bloomberg Opinion

W

E may live in a frenetic age of diminished attention spans and 24-hour news cycles, but when it comes to the debt markets, investors are increasingly taking the long view. In the past few years, governments, corporations, and even universities have issued bonds that won’t come due for 50 or even a hundred years.

Why stop there? Why not issue bonds that never, ever mature? It may sound absurd, but debt without a fixed maturity date is the historical bedrock of the modern financial system. While borrowers on the margins still use them today, perhaps it’s time for even the most credit-worthy borrowers to bring them back.

Perpetual debt can be dated back to the eighth century, when the Carolingians ruled Europe. In order to encourage the bequest of land to monasteries, the Catholic church promised to pay donors a modest annual sum that reflected the value of renting land. This annuity was called a rente, and it would often run in perpetuity, passing from the donor to his or her heirs and assignees.

These contracts inspired a new idea. Merchants and financiers approached small, cash-strapped landowners, offering to supply capital in return for a small cut of future proceeds in perpetuity. If the landowner failed to make payments, the rente holder could claim the collateral (the underlying land). In effect, what began as a means of helping the church morphed into a way to invest in agriculture.

Then the rente became far more important. Once again, the church played a key role. As the economic historian John Munro has observed, the rente’s metamorphosis from obscure agricultural contract to an instrument of modern finance began when the Pope launched a crackdown on usury.

Church leaders, eager to make their point, began pulling quotes from the Bible. The Book of Ezekiel, for example, told of a man who “lends at interest and takes a profit.”

It then asked: “Will such a man live?

He will not. Because he has done all these detestable things, he is to be put to death.”

Oh dear. That message, amplified in the various Lateran Councils of the 12th and 13th centuries, included attacks on Jewish money lenders, edicts denying Christian burial to usurers, and other, um, disincentives to lend money at interest.

Dante did his part, too: His Inferno relegates usurers to the very bottom of the seventh circle of hell—lower than murderers, blasphemers and sodomites.

It is perhaps not surprising, then, that cash-strapped municipalities in France decided to find a way around the prohibition on usury. And here the rente offered a model. Towns sold rente contracts to investors backed by revenue from rents or excise taxes on various foodstuffs. The idea soon spread to other municipalities in Europe.

In the process, the issuers of the new contracts saved their souls (and skins). They could rightly claim that they weren’t actually borrowing money because there was no principal to be repaid. It was just a stream of annual payments that stretched into eternity as unfathomable as an afterlife spent in heaven or hell.

There was an additional advantage to bonds that last forever. In an age when the church launched a holy war on usury, many debtors managed to get their interest-bearing debts canceled by claiming there was no other way to avoid becoming entangled in the damning sin of usury—surely one of the more creative justifications for debt default ever invented. Rente contracts insured that borrowers wouldn’t renege.

As a growing number of municipalities embraced rente as a form of public finance, they became increasingly sophisticated. In medieval Catalonia, for example, town

authorities sold censals (their version of a rente) in two forms: a perpetual, hereditary annuity that paid 7.1-percent interest, and another annuity that ran for “two lives” before expiring.

National governments also experimented with the perpetual rente system, with mixed results.

France and Spain both embraced the idea, but often abused it, forcing holders of short-term bonds to exchange their securities for annual payments in perpetuity. Nonetheless, by the 16th century, these instruments were bought and sold in secondary markets across the continent, becoming the stock in trade of many early merchant-banking houses.

To our modern eyes, this is a strange and alien way to do business. But perpetual bonds invariably contained a provision that allowed the issuer to redeem the debt at their convenience. In other words, the rente was callable: If the debtor government could find a cheaper way of borrowing money, it could discharge its obligations and issue new perpetual obligations at the lower rate.

It was in England that the perpetual bond achieved its greatest success. Though the country had gone Protestant under Henry VIII, the Protestants weren’t so fond of usury, either. In 1552, Parliament reinstated prohibitions on lending money at interest, declaring: “Forasmuche as Usurie is by the worde of God utterly prohibited, as a vyce moste odious and detestable.”

In subsequent years, hostility toward usury softened. But the British remained quite skeptical, capping legal interest rates at 10 percent in 1623, and then at 5 percent by 1713.

This may help explain why, when Britain had to borrow money at 14- percent interest to finance a war with France in 1693, it opted for perpetual bonds. Indeed, most historians date the country’s “financial revolution” to that year, when it issued a “Million Pound Loan.”

But this wasn’t really a loan; it was an annuity—otherwise known as a perpetual bond.

The creation of the Bank of England the following year led to a wider array of offerings, though some of these weren’t perpetual. One ran for three lives (at 14-percent interest); two lives (12 percent); and one life (10 percent).

In 1752, though, the British converted the bonds into what was called the “Consolidated Stock of the Nation,” consisting of perpetual bonds paying 3.5 percent a year. In other words, Great Britain, the most important capitalist nation in the world, had a bond market made up of bonds—known as consols—with no set redemption date.

When Alexander Hamilton consolidated the debts of the newly independent United States, he did much the same thing. Revolutionary-era debts were combined into a new, national debt with no fixed maturity date. But these perpetual bonds could eventually be converted—as was the government’s prerogative—into bonds with a definite maturity date.

Indeed, the 19th century witnessed a larger revolt against the idea of perpetual financing. The US got rid of its perpetual debt by the 1830s, replacing it with fixed-maturity obligations; Britain redeemed and refinanced many of its consols in 1888, securing lower interest rates. The reason? Years of deflation made it wise to lock in better interest rates.

Britain redeemed the last of the consols in 2015. But maybe what looked like the symbolic end of perpetual finance was really the beginning of a new era of never-ending debt payments.

Indeed, with a growing number of public and private debtors issuing debt of ever-lengthening maturity, why not go all the way, and stretch the yield curve to asymptotic infinity?

That’s how debt markets began many centuries ago. They may end up there again.

Leonid Bershidsky

BLOOMBERG

N

OW that German leaders have responded to French President Emmanuel Macron’s provocative remarks concerning the future of the North Atlantic Treaty Organization (Nato), an unusually wide public rift has emerged between France and Germany. At its root, it’s about France’s leadership ambitions, to which Germany is opposed without itself wanting to lead.

“We do want a strong and sovereign Europe,” Foreign Minister Heiko Maas wrote in an op-ed article in the weekly Der Spiegel on Sunday. “But we need it as part of a strong Nato, and not as a substitute.”

That doesn’t just mean Maas is keen to preserve Europe’s, and Germany’s, transatlantic alliance regardless of US President Donald J. Trump’s relative lack of interest in it—simply because Europe cannot defend itself without US help today. Maas insisted that “when Europe is one day able to defend its own security, we should still want Nato.”

And, directly answering Macron’s musings about improving relations with Russia as the alliance with the US erodes, the German minister declared that “Germany will not tolerate any special arrangements, not vis-à-vis Moscow and not on any other matters,” because it takes the security of Poland and the Baltic states to heart.

These are strong statements, especially coming from Maas. He’s a member of the Social Democratic Party, which is less pro-US and pro-Nato than its senior partner in Germany’s governing coalition, Chancellor Angela Merkel’s Christian Democratic Union. But on the points Maas made in his article, the German government appears to be united. Merkel, too, has criticized Macron’s vision more sharply than on any other matter since his election in 2017, calling it a “sweeping attack.”

“We must bring the European part of Nato closer together,” Merkel said on her regular Sunday podcast.

That, she added, was what the European Union defense project, known as Permanent Structured Cooperation, or Pesco, is all about.

That’s an approach radically different from Macron’s. To him, the EU defense project is about strategic sovereignty. To German

politicians, it’s largely an efficiency project aimed at harmonizing European countries’ defense industries, cutting the number of different defense systems used by member states’ armies, and centralizing the development of new weapons, such as warplanes and tanks.

This German vision is consistent with the Framework Nations Concept, adopted by Nato in 2014. It’s a mechanism for voluntary defense cooperation built around specific nations’ projects, such as Germany’s own idea of coordinating the development of defense capabilities, or the United Kingdom’s work on a multinational rapid response force.

Under the concept, pretty much any cooperation projects, even those including non-Nato members, such as Sweden and Finland, can take place under Nato’s umbrella.

With Nato providing such a flexible platform, it’s often not obvious why any other defense cooperation programs are necessary. Nato and the EU have agreed to coordinate their activities, anyway, and it’s evident from progress reports on that effort that this creates a lot of duplicative bureaucratic activity such as cross-participation in working groups. The same exercises under the program get two different names, one for the EU and one for Nato.

But especially from the French point of view, Nato isn’t the best platform for joint procurement programs, because outside it, Europeans can keep out US competition. Involving Nato also means dealing with

the US as the organization’s military leader. France, as the country with the strongest military in the EU, likes to exercise leadership, too. Which is perhaps the best explanation for Macron’s European Intervention Initiative, an attempt at coordinating European countries’ strategic thinking that isn’t even part of EU defense cooperation.

Germany doesn’t have France’s military ambitions. It’s a low defense spender because higher expenditure is politically unpopular. The Bundeswehr’s combat readiness is constantly in question, and there’s all the weight of history on the shoulders of German leaders.

So German politicians see their function in maintaining European security differently than Macron does, even if they, too, refer to “leadership.”

“As a country at the center of Europe, Germany must play a central, mediatory and balanced role—within Europe and vis-à-vis the US,” Maas wrote. “If we do not assume this leadership role, nobody will.”

Being a mediator, though, is not the same as being a leader. An unambitious, compromise-minded Germany won’t compete with Macron’s cocky France, but it’ll be a drag on Macron’s security strategizing, getting in the way as he tries to provoke the US with talk of strategic autonomy or flirt with Russia. It’ll provide the reliably boring alternative, and that’s probably for the best: Any machine in which Macron designs the sporty engine needs German-made brakes.

Markets take the under on Trump’s economic speech

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By Robert Burgess | Bloomberg Opinion

HE global stock market drifted lower on Monday, posting its biggest decline in more than three weeks. Yes, there’s still plenty of time for equities to recover and gain for a sixth consecutive week, which would match their longest winning streak since they advanced for 10 consecutive weeks over the course of late 2017 and early 2018. But doing so may hinge on a critical event on Tuesday.

Even with the modest decline, the MSCI All-Country World Index is still up 19 percent this year. The surge in recent weeks is due largely to optimism that the United States and China are close to reaching an agreement on “phase one” of a broad trade deal. It doesn’t matter that the details are likely to be modest; what matters is that it would signal that the trade war isn’t worsening. That’s why President Donald J. Trump’s address to the Economic Club of New York on Tuesday is so critical. No one is quite sure which Trump will show up. Will it be the one who in recent weeks has trumpeted progress in trade talks, or will it be the one who has said that the US hasn’t agreed to a rollback of tariffs on China, which is what the markets truly want? This is no small matter for investors. Various surveys have shown that trade uncertainty is the primary risk facing markets. In that sense, whatever Trump says on Tuesday has the potential to either ratify the rally or bolster the case that it’s built on little more than hope. And as everyone in markets learns on their first day in the business, hope isn’t a strategy. “Markets have been skittish waiting for any concrete information about the trade talks,” Matt Forester, the chief investment officer at BNY Mellon’s Lockwood Advisors, told Bloomberg News. At 15 times forecast earnings for the following year, the MSCI is trading at its most expensive level since the start of 2018.

Trump’s talk is not the only big event for markets this week. Federal Reserve Chairman Jerome Powell will address the Joint Economic Committee of Congress on Wednesday, the same day as the start of public impeachment hearings against Trump. The US Labor Department will also provide an update on inflation for October. The week ends with data on US retail sales for October, which economists hope will be a reversal from September’s big miss to the downside. But as already stated, hope has no place in markets.

The bond game

THE bad news for the bond market is that November isn’t even halfway over and it’s already the worst month for fixed-income investors since April 2018, with the Bloomberg Barclays Global Aggregate Index down 1.40 percent as of Friday.

The good news is that there’s plenty of time for the bond market to rebound. And just as with the stock market, Trump’s appearance at Economic Club of New York— along with Powell’s testimony—may determine whether the recent sell-off in fixedincome assets is overdone. That’s the short-run prognosis. In a nod to John Maynard Keynes, bonds are dead in the long run anyway. Well, at least according to Moody’s Investors Service they are. The credit ratings company put out a research report on Monday saying the rising tide of populism spreading round the world has caused it to turn “negative” on global sovereign credit for 2020. Unpredictable domestic and geopolitical risks along with a push for populist policies that weaken institutions, help slow growth and boost the risk of economic and financial shocks means governments will struggle to address credit challenges, Moody’s wrote. That’s scary, but the major ratings companies aren’t known for their astute political science observations. Yields on 10-year Treasury notes are lower now than when S&P Global Ratings stripped the US of its AAA rating in August 2011.

Go big or go home

THE thing about bond sell-offs in recent years is that they have tended to be short-lived, thanks largely to central banks. The collective balance sheet assets of the Fed, European Central Bank, Bank of Japan and Bank of England rose to 35.7 percent of their countries’ total gross domestic product in October from about 10 percent before the financial crisis, according to data compiled by Bloomberg. And judging by some of the latest moves made by the ECB, bond traders can

be a little less worried about a lack of buyers. The ECB started its second round of corporate bond purchases by acquiring in a week an amount that analysts expected it to buy in a month, according to Bloomberg News’s Tasos Vossos. The central bank bought almost €2.8 billion ($3 billion) of company debt securities in the week to November 8, according to data released on Monday. It was the second-largest weekly purchase figure since the ECB first adopted the strategy, known as quantitative easing, in June 2016. The bank suspended the program last December and restarted it at the beginning of this month as growth flagged across the euro area. It’s unknown whether the faster pace of purchases is in response to the big drop in bond prices and corresponding jump in yields, but it should be comforting to know that the ECB is doing its part to stem the weakness.

Chile gives in

IT’S becoming routine to see the Chilean peso leading the list of biggest losers in the foreign-exchange market on any given day, and Monday was no exception. The peso weakened 1.72 percent to a record low, bringing its depreciation since October 18 to 6.39 percent. To put that into context, the next biggest loser among the 31 major currencies tracked by Bloomberg, the Argentine peso, has dropped just 2.48 percent. It’s well known by now that the populist movement that Moody’s warned about on Monday has erupted in Chile, where a wave of protests has disrupted the economy and government. The latest move lower in the peso came as the administration of President Sebastian Piñera said it would overhaul the constitution drawn up during the dictatorship of Augusto Pinochet to calm three weeks of mass protests.

So why did the peso and Chile’s equity market, which fell 1.52 percent, take it so harshly? Many people regard the constitution, drawn up under the dictatorship of Pinochet, as the foundation of an economic system that privatized pensions and much of health care and education, a chief grievance of protesters, according to Bloomberg News’s Javiera Baeza and Eduardo Thomson. It also enshrined the strict legal safeguards to private property that are behind Chile’s water privatization, a controversial subject in a country struggling with severe droughts.

Natural gas stumbles

THE natural gas market cares little about trade wars or populism. To traders there, it’s all about the weather. Natural gas futures slid the most since January as forecasts showed that a cold snap descending on the US would peter out by the end of the month, curbing demand at the time of year when consumption of the heating gas usually surges, according to Bloomberg News’s Christine Buurma and Naureen S. Malik. Gas was the worst-performing major commodity on Monday, tumbling as much as 6.1 percent. Temperatures will probably be mostly normal in the eastern half of the country on November 21 to 25 as an autumn chill fades, according to Commodity Weather Group Llc. Beyond the weather, the slide in natural gas underscores how record production from shale basins continues to weigh on the market even as exports soar and the power industry becomes more reliant on the fuel.

Without a sustained Arctic chill this winter, stockpiles will remain above normal for the time of year, pressuring prices lower, according to Buurma and Malik. As they point out, hedge funds are adding to the bearish momentum, holding the largest short position since 2015 for the time of year.

Tea leaves

WHEN the National Federation of Independent Business said a month ago that its small-business sentiment index for September fell to near the lowest level of Trump’s presidency, it noted that the part of the gauge measuring “uncertainty” plunged to its lowest since February 2016.

“More owners are unable to make a statement confidently, good or bad, about the future of economic conditions,” the group said, with 30 percent of respondents reporting “negative effects” from tariffs.

Don’t expect much improvement when the group provides an update on Tuesday. The median estimate of economists surveyed by Bloomberg is for a reading of 102 for October, little changed from 101.8 in September.

Bloomberg Economics points out that small-business activity has been moderating since the last report.

Most notably, the ADP private employment survey indicated recently that net hiring has shrunk to half the pace that prevailed last year, to the slowest since 2011.

CMMA CELEBRATES 41st YEAR

288 mass media professionals and student aspirants for the awards named finalists

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total of 288 entries from mass media members, individual and institutional, and from aspiring student communicators were named finalists in this year’s Catholic Mass Media Awards (CMMA). They were drawn from more than 600 entries from media professionals and students who vied for the awards in the fields of print, television, radio, advertising, music, cinema, online media and the Student CMMA. The winners will be known during the awards program on November 13, Wednesday, 5 p.m., at the GSIS Theater, GSIS Headquarters, Financial Center, Roxas Blvd., Pasay City.

The CMMA celebrates this year its 41st anniversary, with the theme “We are members one of another (Eph 4, 25). From network community to human communities.”

The theme is derived from the message of Pope Francis for this year’s World Social Communications Day. In his message, the Pope calls on the faithful to promote the use of the internet in the service of encounter between persons and community solidarity. The Pontiff reminds the faithful to give communication a broad perspective based on the person, and to regard interaction as dialog and an opportunity to meet with others.

By adopting this theme, the CMMA supports the Pope’s message to communicators to use social networks to help people better connect, rediscover and assist one another.

As it marks its milestone, the CMMA also honors and commemorates His Eminence Jaime L. Cardinal Sin,, who established the awards in 1978 as “a tribute to those who are serving God through the media.”

The CMMA has remained the country’s most prestigious awards giving body in its more than four decades of existence, owing to the greatness of its founder and his extraordinary belief in the power of the media to effect social transformation.

For their part, communication and mass media practitioners have shown total support and dedication to the Cardinal’s ideals for the CMMA by sending in their entries by the hundreds year after year.

A special message will be given by His Eminence Luis Antonio G. Cardinal Tagle, archbishop of Manila and honorary chairman of the CMMA. He will be introduced by D. Edgard A. Cabangon, acting chairman of the CMMA.

Since its establishment in 1978, the CMMA had been given out yearly except for a two-year interruption in 1997 and 1998. It was revived in 1999 by Cardinal Sin, who asked Ambassador Antonio L. Cabangon Chua to be its chairman and president. The first awards night was held in 2000 under the leadership of the Ambassador, who held the post until he passed away in March 2016.

To join the Cardinal and Mr. Cabangon in welcoming guests to the awards night are other CMMA officers including Antonio L. Henson, vice chairman/trustee; Juan P. Dayang, secretary/ trustee; Philip E. Juico, treasurer/trustee; Jesus Antonio A. Cabangon Jr., Rosie Lovely T. Romulo, Evelina I. Atienza, Engr. Feorelio M. Bote, and Patricia O. Bunye, trustees; Fr. Joselito L. Buenafe, trustee and chairman of CMMA Production; Fr. Rufino C. Sescon Jr., trustee and executive director; and Benjamin V. Ramos, asst. to the Chairman. Fr. Hans Magdurulang is coordinator of the CMMA panels of judges.

CMMA winners are passed upon by the panels of judges in the various categories whose members are chosen by the CMMA board of trustees and confirmed by the Archbishop of Manila.

Named for their integrity, competence and impartiality, they include communication professionals, academicians, civic and religious leaders and members of the clergy.

Also to be presented on CMMA Night are the Hall of Fame Awardees, or those who have been winners for at least five years; the Serviam Award for groups and individuals who transmit Christian values in media-based programs; and the Pope John Paul II for a group or individual who use media creatively to uphold values.

Following is the list of finalists to the 41st CMMA:

2019 cmma finalists INTERNET BEST WEBSITE n https://www.feast.ph—SHEPHERD’S VOICE RADIO AND TELEVISION FOUNDATION, INC. n www.phjesuits.org—PHILIPPINE JESUIT AID ASSOCIATION, INC. n www.familyisagift.com—COUPLES FOR CHRIST GLOBAL MISSION FOUNDATION, INC.

MUSIC BEST INSPIRATIONAL ALBUM n ABOVE AND BEYOND—FEAST WORSHIP / SHEPHERD’S VOICE RADIO & TELEVISION FOUNDATION, INC. n BEHOLD THE RISEN LORD NEW SONGS FOR EASTER—BUKAS PALAD MUSIC MINISTRY

JESUIT COMMUNICATIONS FOUNDATION, INC. n “CHOSEN” SONGS FROM AN ORIGINAL MUSICAL—VARIOUS ARTISTS

JESUIT COMMUNICATIONS FOUNDATION, INC. BEST INSPIRATIONAL SONG

n INANG MARIA NG LINDOGON—JAMIE RIVERA / STAR MUSIC n I PRAY—MARLO MORTEL / STAR MUSIC n CATCHYOUR EYE (SARAH’STHEME)—SARAH GERONIMO / JESUIT COMMUNICATIONS FOUNDATION, INC. n THE BETTER OF ME—PIOLO PASCUAL, SACHI INGLES & PHILHARMONIC ORCHESTRA

JESUIT COMMUNICATIONS FOUNDATION, INC.

n MANATILI KA SA ‘MIN—ALISAH BONAOBRA & FR. CARLO MAGNO MARCELO

BEST MUSIC VIDEO n I PRAY—MARLO MORTEL / STAR MUSIC n TAKE YOU HOME—RICHARD POON / STAR MUSIC n ABS-CBN FAMILY IS LOVE—VARIOUS KAPAMILYA ARTISTS / ABS-CBN CORPORATION n PUSO KO’Y SA’YO—KENNETH E. VILLACASTIN, OP / STUDIO Z PRODUCTIONS & RECORDING STUDIOS

BEST SECULAR ALBUM n AWIT AT LARO—VARIOUS SINGERS / STAR MUSIC n SUPERHERO—JED MADELA / STAR MUSIC n MEGASTAR—SHARON CUNETA / STAR MUSIC

BEST SECULAR SONG n ILILIGTAS KA NIYA—GARY VALENCIANO / STAR MUSIC n PUSO NG PASKO—VARIOUS KAPUSO ARTISTS / GMA NETWORK, INC. n LAGING NANDIYAN—TOTO SORIOSO FEATURING NOEL CABANGON

JESUIT COMMUNICATIONS FOUNDATION, INC. n ABS-CBN JUST LOVE ARAW-ARAW—VARIOUS KAPAMILYA ARTISTS / ABS-CBN CORPORATION

STUDENT CMMA BEST SHORT FILM n HAPAG—DON BOSCO TECHNICAL COLLEGE - MANDALUYONG n 1941—THE DOMINICAN STUDENTATE n PEREGRINO—THE DOMINICAN STUDENTATE n PLAYGROUND—UST ANGELICUM COLLEGE, INC. n STO. ENTIERRO—COLEGIO DE SAN JUAN DE LETRAN n TODAY, I DIE—COLEGIO DE SAN JUAN DE LETRAN n APOLIKADITO—COLEGIO DE SAN JUAN DE LETRAN

BEST PUBLIC SERVICE PRINT AD n AMEN—FAITH COLLEGES n HIS HOME—FAITH COLLEGES n BALANG ARAW, WALA KA NG IBUBUGA!—UST ANGELICUM COLLEGE, INC. n TUMBANG PRESO—UST ANGELICUM COLLEGE, INC. n TAKE CHARGE—UST ANGELICUM COLLEGE, INC. n HIGHLIGHTED—UST ANGELICUM COLLEGE, INC. n A VOTE IN THE BALLOT IS A DECISION FOR THE NATION—DE LA SALLE-COLLEGE OF SAINT BENILDE n UPUAN—OUR LADY OF CAYSASAY ACADEMY

BEST STUDENT ORGAN - GRADE SCHOOL n HASIK—LA SALLE GREEN HILLS n SEED COSMIC—FELICIANO CABUCO ELEM. SCHOOL n LUNTIANG PANULAT—LA SALLE GREEN HILLS n ANG PANITIK—CITY OF MALOLOS INTEGRATED SCHOOL - STO. ROSARIO n THE JUNIOR REPUBLICAN—CITY OF MALOLOS INTEGRATED SCHOOL - STO. ROSARIO n THE DIALOGUE—FR. LUIGI CABURLOTTO SCHOOL n GAT. PEPE—DR. JOSE P. RIZAL ELEMENTARY SCHOOL n THE ESTOILE—ST. EDWARD INTEGRATED SCHOOL

BEST PUBLIC SERVICE RADIO AD n KAILAN—FAITH COLLEGES n WAZE—UST ANGELICUM COLLEGE, INC. n BILI NA!—UST ANGELICUM COLLEGE, INC. n BOTTLE OF PEACE—OUR LADY OF CAYSASAY ACADEMY BEST STUDENT ORGAN - HIGH SCHOOL

n THE HILARIAN—ST. JAMIE HILARIO SCHOOL - DE LA SALLE BATAAN n EUNOIA—DE LA SALLE UNIVERSITY - DASMARIÑAS n THE SAGE—SOPHIA SCHOOL n THE WESTERNIAN PIONEER—UNIVERSITY OF BATANGAS n FORTIBUS—PAREF NORTHFIELD SCHOOL FOR BOYS n SAPIENTIA ET VIRTUS—SCHOOL OF SAINT ANTHONY n TEENIG KONGRESYONALYAN—CONGRESSIONAL INTEGRATED HIGH SCHOOL

BEST PUBLIC SERVICE TV AD n UPOS—DE LA SALLE UNIVERSITY - DASMARIÑAS n BE A VOLUNTEER—COLEGIO DE SAN JUAN DE LETRAN n COURSE DISCRIMINATION—COLEGIO DE SAN JUAN DE LETRAN n THE DANGERS OF CYBERBULLYING/INFOGRAPHICS—UST ANGELICUM COLLEGE, INC. n WE CHOOSE WOOD—UST ANGELICUM COLLEGE, INC. n HEY I’M LAURA—UST ANGELICUM COLLEGE, INC.

BEST STUDENT ORGAN - COLLEGE n CVSU NEXUS TABLOID—CAVITE STATE UNIVERSITY - CAVITE COLLEGE

OF ARTS AND TRADES (CCAT) CAMPUS n SENSUS COMMUNIS: THE LATHE JOURNAL—BATANGAS STATE UNIVERSITY n LE PILIER—UNIVERSITY OF RIZAL SYSTEM, BINANGONAN n THE BENILDEAN: EMERGENCE—DE LA SALLE-COLLEGE OF SAINT BENILDE n THE VARSITARIAN—UNIVERSITY OF SANTO TOMAS n THE GUILDS—BATAAN PENINSULA STATE UNIVERSITY - MAIN CAMPUS

BEST LITERARY PUBLICATION n SCOOP MAGAZINE—PAMANTASAN NG LUNGSOD NG MAYNILA n THE GREENERY—LA SALLE GREEN HILLS n SHADES OF GRAY—DE LA SALLE-COLLEGE OF SAINT BENILDE n PHOENIX—LYCEUM OF THE PHILIPPINES UNIVERSITY - BATANGAS n KATHA XIII: AGTA—BULACAN STATE UNIVERSITY n THE GUILDS: REMEMBER ERLINDA—BATAAN PENINSULA STATE UNIVERSITY - MAIN CAMPUS

SPONSORED BY:

BEST TV PRODUCTION

n BAKA MAKATULONG—MARCELO H. DEL PILAR NATIONAL HIGH SCHOOL n KARINDERYA NI MANG UROT—UST ANGELICUM COLLEGE, INC. n PASAN PASANG PAG-ASA—UST ANGELICUM COLLEGE, INC. n THE LITTLE WARRIOR—UST ANGELICUM COLLEGE, INC. n PWDENG-PUWEDE—UST ANGELICUM COLLEGE, INC. n LULUBOG, AAHON—UST ANGELICUM COLLEGE, INC. n TULA NI LESTER—BATAAN PENINSULA STATE UNIVERSITY - MAIN CAMPUS

ADVERTISING BEST DIGITAL AD - BRANDED n CHANGING PEOPLE’S LIVES—FRONTROW / CREATIVE PROGRAMS, INC. n SM SO MANY STORIES “SABA”—SM INVESTMENTS CORPORATION / LOGIKA CONCEPTS, INC. n SM SO MANY STORIES “TATANG”—SM INVESTMENTS CORPORATION / LOGIKA CONCEPTS, INC. n SM SO MANY STORIES “SM CARES”—SM INVESTMENTS CORPORATION / LOGIKA CONCEPTS, INC. n GURO—THE GENERICS PHARMACY / REDBIN COMMUNICATIONS & BRAND SOLUTIONS, INC. n JUAN EFFECT—CEBU PACIFIC / BLACKPENCIL ADVERTISING, INC. n JIRO—MISTER DONUT / FCB MANILA

BEST DIGITAL AD - PUBLIC SERVICE n FAKE NEWS - UNCONDITIONAL—MANILA BULLETIN n CHRISTMAS 2018 - SILENT NIGHT—MANILA BULLETIN n BIDDING - ELECTION 2019—MANILA BULLETIN n MONEY TRAIL - ELECTION 2019—MANILA BULLETIN n MACHO CHOIR—PHILIPPINE COMMISSION ON WOMEN / DDB GROUP PHILIPPINES n PANGAKO—ROTARY CLUB OF MAKATI WEST / DDB GROUP PHILIPPINES n SILENT SPEECH—THE PHILIPPINE STAR / IDEASXMACHINA ADVERTISING, INC.

BEST PRINT AD - PUBLIC SERVICE n NATIONAL HEROES DAY 2018—MANILA BULLETIN n NATIONAL READING MONTH 2018—MANILA BULLETIN n ELECTION 2019 - BIDDING—MANILA BULLETIN n ELECTION 2019 - MONEY TRAIL—MANILA BULLETIN

BEST RADIO AD - PUBLIC SERVICE n MOR MAMAKULIT NA PAALALA—MOR 101.9 FOR LIFE MANILA

ABS-CBN CREATIVE COMMUNICATION MANAGEMENT n MACHO CHOIR “TSONG TSONG”—PHILIPPINE COMMISSION ON WOMEN

DDB GROUP PHILIPPINES n MAGDASAL PAGKAGISING, KID—MALAKING MUNTI FOUNDATION

IDEASXMACHINA ADVERTISING, INC. n WATER CONSERVATION—STAR FM MANILA / BOMBO RADYO PHILIPPINES BEST TV AD - BRANDED

n ONE LOVE, ONE PINAS—ABS-CBN CORPORATION / ABS-CBN

CREATIVE COMMUNICATION MANAGEMENT

n GURO—THE GENERICS PHARMACY / REDBIN COMMUNICATIONS & BRAND SOLUTIONS, INC. n TAGAY 2.0—GINEBRA SAN MIGUEL, INC. / ASPAC-DAN

BEST TV AD - PUBLIC SERVICE

n E-POWER MO—DEPARTMENT OF ENERGY / PHILIPPINE INFORMATION AGENCY n GMA INDEPENDENCE DAY 2018—GMA NETWORK, INC. n GMA EDSA ANNIVERSARY 2019—GMA NETWORK, INC. n ELSA AND SARAH—ABS-CBN NEWS / ABS-CBN CREATIVE COMMUNICATION MANAGEMENT n ANGELO—ALASKA MILK CORPORATION / GMA NETWORK SALES & MARKETING GROUP n #SPREADKINDNESS—GMA REGIONAL TV / GMA NETWORK, INC.

TELEVISION BEST PUBLIC SERVICE PROGRAM n RED ALERT—ABS-CBN 2 n SALAMAT DOK—ABS-CBN 2 n MISSION POSSIBLE—ABS-CBN 2 n I-WITNESS “BILANGGO NG ISIPAN”—GMA 7 n REPORTER’S NOTEBOOK “SILANG PINAKAMAHIRAP”—GMA 7 n INVESTIGATIVE DOCUMENTARIES “HULING HANTUNGAN”—GMA NEWS TV

BEST STATION ID n GMA CHRISTMAS STATION ID 2018: IPADAMA ANG PUSO NG PASKO—GMA NETWORK, INC. n PTV STATION ID “PARA SA BAYAN”—PEOPLE’S TELEVISION NETWORK, INC. n PTV STATION ID “FILIPINO VALUES MONTH”—PEOPLE’S TELEVISION NETWORK, INC. n TV5 STATION ID—TV5 NETWORK

BEST COMEDY PROGRAM n DADDY’S GURL—GMA 7 n DEAR UGE—GMA 7

BEST ADULT/EDUCATIONAL PROGRAM n IKAW NA BA? THE DZMM SENATORIAL CANDIDATES’ INTERVIEW—DZMM TELERADYO n CREATE SEASON 2—COLOURS - CIGNAL TV, INC. n BORN TO BE WILD—GMA 7 n THE ATOM ARAULLO SPECIALS—GMA 7 n GOOD NEWS—GMA NEWS TV n BIYAHE NI DREW—GMA NEWS TV n BYAHENG DO30—GMA REGIONAL TV 5 (DAVAO)

BEST TV SPECIAL n PITONG TANDA—DZMM TELERADYO / SHEPHERD’S VOICE RADIO & TV FOUNDATION, INC. n ANG BABAE NG BALANGIGA—ABS-CBN 2 n FAILON NGAYON “MANILA BAY: REHABILITASYON O REKLAMASYON—ABS-CBN 2 n 7 LAST WORDS—ABS-CBN 2 / MISSION COMMUNICATION FOUNDATION, INC. n ISLA BAGO ANG TURISTA (ULAT NI ZHANDER CAYABYAB)—DZMM TELERADYO n WALANG UNLI RICE—GMA 7

BEST NEWS MAGAZINE n BAGONG PILIPINAS—PTV 4 n CONVO WITH CHECHE LAZARO—ONE NEWS (CIGNAL TV) n KAPUSO MO, JESSICA SOHO—GMA 7 n I JUANDER—GMA NEWS TV n BRIGADA—GMA NEWS TV

BEST SPECIAL EVENT COVERAGE n BATTLE FOR MANILA BAY—PTV 4 n UNANG HIRIT SA VATICAN AT ITALY LIVE SPECIAL COVERAGE—GMA 7 n DINAGYANG FESTIVAL: HALA BIRA! THE GMA REGIONAL TV ONE WESTERN VISAYAS SPECIAL LIVE COVERAGE—GMA REGIONAL TV n PIT SENYOR: SINULOG FESTIVAL THE GMA REGIONAL TV BALITANG BISDAK SPECIAL LIVE COVERAGE—GMA REGIONAL TV BEST RELIGIOUS PROGRAM

n KERYGMA TV—IBC 13 & TV MARIA / SHEPHERD’S VOICE RADIO & TV FOUNDATION, INC. n STORIES FOR THE SOUL—GMA 7 n MEN OF LIGHT—CLTV 36

BEST ENTERTAINMENT PROGRAM n ASAP NATIN ‘TO—ABS-CBN 2 n IT’S SHOWTIME “HOLY WEDNESDAY SPECIAL”—ABS-CBN 2 n SEARCH FOR THE IDOL PHILIPPINES—ABS-CBN 2

BEST CHILDREN AND YOUTH PROGRAM n ISKOOLMATES—PTV 4 n DAIG KAYO NG LOLA KO—GMA 7 n IBILIB—GMA 7 n NANG NGUMITI ANG LANGIT—ABS-CBN 2 n TOPPSTAR TV—GMA 7 n AHA!—GMA 7

BEST TALK SHOW n ISKOOLMATES—PTV 4 n MARS—GMA NEWS TV n SARAP DI BA—GMA 7 n THE CHIEFS—ONE NEWS (GIGNAL TV) n MAGANDANG BUHAY—ABS-CBN 2

BEST DRAMA SERIES / PROGRAM n MY SPECIAL TATAY—GMA 7 n ONANAY—GMA 7 n SAHAYA—GMA 7 n PLAYHOUSE—ABS-CBN 2 n THE GENERAL’S DAUGHTER—ABS-CBN 2 n FPJ’S ANG PROBINSYANO—ABS-CBN 2

BEST NEWS PROGRAM n AKSYON—TV5 n THE BIG STORY—ONE NEWS (CIGNAL TV) n 24 ORAS WEEKEND—GMA 7 n BALITANGHALI—GMA NEWS TV n STATE OF THE NATION WITH JESSICA SOHO—GMA NEWS TV n ONE WESTERN VISAYAS—GMA REGIONAL TV

RADIO BEST NEWS FEATURE n TURO-TURO “OH YES, ANO BA ANG SIKRETO SA IYONG SUCCESS?—DZMM RADYO PATROL

630 / ABS-CBN CORPORATION n MAMASAPANO MASSACRE “THE SAF 44”—DZWXBOMBO RADYO BAGUIO n BOMBO NEWS AND VIEWS MORNING EDITION “BASURA”—DXIF - BOMBO RADYO CAGAYAN DE ORO n MOTHER’S DAY—102.7 STAR FM MANILA / BOMBO RADYO PHILIPPINES n FEAST OF THE BLACK NAZARENE—102.7 STAR FM MANILA / BOMBO RADYO PHILIPPINES n LOLO, LOLA! WE LOVE YOU!—96.3 STAR FM DAVAO / BOMBO RADYO PHILIPPINES n JUEVES SANTO—96.3 STAR FM DAVAO / BOMBO RADYO PHILIPPINES

BEST ENTERTAINMENT PROGRAM n THE CONCERT SERIES—MONSTER RX 93.1 / AUDIOVISUAL COMMUNICATORS, INC. n RADYO BALINTATAW—DZRH / MANILA BROADCASTING COMPANY n TANDEM: LIMA AT LOGAN—DZMM RADYO PATROL 630 / ABS-CBN CORPORATION n BOMBO MUSIC FESTIVAL—BOMBO RADYO ILOILO / PEOPLES BROADCASTING SERVICE, INC. n GOOD MORNING PHILIPPINES—DXES 801 KHZ BOMBO RADYO GENSAN

PEOPLES BROADCASTING SERVICE, INC.

BEST PUBLIC SERVICE PROGRAM n OPERATION TULONG—DZRH / MANILA BROADCASTING COMPANY n SEARCH FOR THE MONSTER SCHOLAR—MONSTER RX 93.1 / AUDIOVISUAL COMMUNICATORS, INC. n TALK TO MY LAWYER—DWWW 774 / INTERACTIVE BROADCAST MEDIA, INC n RADYO MO SA NUTRISYON—RMN DZXL 558 KHZ / RADIO MINDANAO NETWORK n BOMBO MEDICO 2018—DYRF - STAR FM ILOILO n BALINTATAW SUNDAY TALAKAYAN—DZRH / MANILA BROADCASTING COMPANY BEST COUNSELING PROGRAM

n KAPANALIG—DZRH / MANILA BROADCASTING COMPANY n MAG-USAP TAYO—DZRH / MANILA BROADCASTING COMPANY n TALK TO PAPA—BARANGAY LS 97.1 / GMA NETWORK, INC. n TAMBALAN: MAHIWAGANG BURNAY—90.7 LOVE RADIO / MANILA BROADCASTING COMPANY n TULONG KO, PASA MO—DZMM RADYO PATROL 630 / ABS-CBN BROADCASTING CORPORATION n KAHAPON LAMANG—BOMBO RADYO ILOILO / PEOPLES BROADCASTING SERVICE, INC.

BEST EDUCATIONAL PROGRAM n BOSES NG KABATAAN—DZRH / MANILA BROADCASTING COMPANY n RADYO BALINTATAW—DZRH / MANILA BROADCASTING COMPANY n HANDA NA BA KAYO? THE DZMM HALALAN 2019 FORUM—DZMM RADYO PATROL 630

ABS-CBN BROADCASTING CORPORATION n DRA. BLES @ UR SERBIS—DZMM RADYO PATROL 630 / ABS-CBN BROADCASTING CORPORATION n MABEAUTY PO NAMAN—DZMM RADYO PATROL 630 / ABS-CBN BROADCASTING CORPORATION n BOMBO LIFESTYLE—BOMBO RADYO ILOILO / PEOPLES BROADCASTING SERVICE, INC. n DOCTOR BOMBO DZWX—BOMBO RADYO BAGUIO

BEST NEWS PROGRAM n SUPER BALITA SA TANGHALI, NATIONWIDE—SUPER RADYO DZBB / GMA NETWORK, INC. n SUPER BALITA SA UMAGA, NATIONWIDE—SUPER RADYO DZBB / GMA NETWORK, INC. n ON THE SPOT—DZMM RADYO PATROL 630 / ABS-CBN CORPORATION n RADYO PATROL BALITA ALAS-SIYETE—DZMM RADYO PATROL 630 / ABS-CBN CORPORATION n BOMBO NEWS AND VIEWS MORNING EDITION—BOMBO RADYO DAGUPAN

PEOPLES BROADCASTING SERVICE, INC. n BOMBO NEWS AND VIEWS EVENING EDITION—BOMBO RADYO ILOILO

PEOPLES BROADCASTING SERVICE, INC. n BOMBO NEWS AND VIEWS MORNING EDITION—BOMBO RADYO ILOILO

PEOPLES BROADCASTING SERVICE, INC. BEST NEWS COMMENTARY

n REVIEW—DZRH / MANILA BROADCASTING COMPANY n OPINYON MO, OPINYON KO—DWWW 774 / INTERACTIVE BROADCAST MEDIA, INC. n DOBOL A SA DOBOL B—SUPER RADYO DZBB 594 / GMA NETWORK, INC. n SAKSI SA DOBOL B—SUPER RADYO DZBB 594 / GMA NETWORK, INC. n ANONG SAY N’YO?—SUPER RADYO DZBB 594 / GMA NETWORK, INC. n SINO (JENG-JENG, BALITAWIT, BLIND ITEM)—SUPER RADYO DZBB 594 / GMA NETWORK, INC.

BEST DRAMA PROGRAM n DEAR MOR—MOR 101.9 / ABS-CBN CORPORATION n RADYO NOBELA—BARANGAY LS 97.1 / GMA NETWORK, INC. n RADYO BALINTATAW—DZRH / MANILA BROADCASTING COMPANY n MAY PANGAKO ANG BUKAS—DZRH / MANILA BROADCASTING COMPANY n SA KANYANG PANAHON—DZRH / MANILA BROADCASTING COMPANY n RECUERDOS DELA VIDA—BOMBO RADYO PHILIPPINES - CAUAYAN n MESSIAH—102.7 STAR FM MANILA / BOMBO RADYO PHILIPPINES n GENESIS—102.7 STAR FM MANILA / BOMBO RADYO PHILIPPINES

BEST BUSINESS PROGRAM n NEGOSYO ATBP.—DZRH / MANILA BROADCASTING COMPANY n RADYO NEGOSYO—DZMM RADYO PATROL 630 / ABS-CBN CORPORATION n NEGOSYO AT EMPLEYO SA BOMBO—DZWX - BOMBO RADYO BAGUIO n NEGOSYO AT EMPLEYO—BOMBO RADYO PHILIPPINES - LA UNION

PRINT BEST SPECIAL FEATURE n SHINING THROUGH THE SHADOWS—ADOR VINCENT MAYOL / CEBU DAILY NEWS n A SPARK IN THE DARK: RISING ABOVE ONE’S LIMITS—ADOR VINCENT MAYOL

CEBU DAILY NEWS n THE HAPPY ENTREPRENEUR—ARDY ROBERTO / CREATIVE PROGRAMS, INC.

ABS-CBN PUBLISHING, INC. n ALL THAT MATTERS—FRANCIS J. KONG / CREATIVE PROGRAMS, INC.

ABS-CBN PUBLISHING, INC. n BATTLE VS CYBERPORN—ADOR VINCENT MAYOL / PHILIPPINE DAILY INQUIRER n HEALING MARAWI—DIVINA SUSON, JULIE ALIPALA, RICHEL UMEL, ALLAN NAWAL,

MELVIN GASCON, AND BEN O. DE VERA / PHILIPPINE DAILY INQUIRER n HER BIGGEST FIGHT—FRANCIS T.J. OCHOA / DENISON REY A. DALUPANG

PHILIPPINE DAILY INQUIRER

BEST EDITORIAL CARTOON n AN APPEAL FOR PEACE, UNITY DESPITE DIFFERENCE—RONI SANTIAGO

MANILA BULLETIN n SA ATING PAGHAHANDA SA MULING PAGBUBUKAS NG BORACAY SA MGA BANYAGANG TURISTA—PAUL ERIC ROCA / MANILA BULLETIN n FAMILY BUSINESS—ALBERT G. RODRIGUEZ / PHILIPPINE DAILY INQUIRER n THE GOOD SHEPHERD—ALBERT G. RODRIGUEZ / PHILIPPINE DAILY INQUIRER

BEST OPINION COLUMN n PAPER VIEW—ATTY. MEL STA MARIA / MANILA BULLETIN n PUBLIC LIVES—RANDY DAVID / PHILIPPINE DAILY INQUIRER n THE LONG VIEW—MANUEL L. QUEZON III / PHILIPPINE DAILY INQUIRER n NEWSSTAND—JOHN NERY / PHILIPPINE DAILY INQUIRER n HUMAN FACE—MA. CERES P. DOYO / PHILIPPINE DAILY INQUIRER

BEST LOCAL COMMUNITY/ PARISH NEWSPAPER n THE BOW AND ARROW—LA SALLE GREENHILLS n ST. JOHN BOSCO TODAY—DON BOSCO PRESS, INC.

BEST BUSINESS COLUMN n ALL IN THE FAMILY—QUEENA N. LEE-CHUA / PHILIPPINE DAILY INQUIRER n INTELLIGENT INVESTING—APRIL LYNN TAN / PHILIPPINE DAILY INQUIRER n AS EASY AS ABC—ATTY. ALEXANDER B. CABRERA / THE PHILIPPINE STAR

BEST ENTERTAINMENT COLUMN n WORD & LIFE BARKADA—GLADY V. RAMOS / WORD & LIFE PUBLICATIONS n HEALING HEART—ILSA REYES / CROSSROADS

BEST CHILDREN’S MAGAZINE n MUSTARD—SHEPHERD’S VOICE PUBLICATIONS, INC. n GOSPEL NOTEBOOK—COMMUNICATION FOUNDATION FOR ASIA n BACKPACK—REX BOOK STORE, INC. / CMN-ASIA, INC. n THE BREAD BASKET—REX BOOK STORE, INC. / CMN-ASIA, INC.

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BEST YOUTH MAGAZINE n FISH: THE ZANY SIDE OF LOVING GOD—SHEPHERD’S VOICE PUBLICATIONS, INC. n GOSPEL K MAGAZINE FOR HIGH SCHOOL—COMMUNICATION FOUNDATION FOR ASIA n CROSSROADS—REX BOOK STORE, INC. / CMN-ASIA, INC. n YOUNGSTER—ST. PAULS PHILIPPINES

CINEMA STUDENT’S CHOICE AWARD FOR BEST FILM n THROUGH NIGHT AND DAY—VIVA FILMS n THREE WORDS TO FOREVER—STAR CINEMA / ABS-CBN FILM PRODUCTIONS, INC. n GOYO: AND BATANG HENERAL—TBA STUDIOS / ARTIKULO UNO PRODUCTIONS

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. YIBING CHENG/ Chinese

26

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. ZHIAN JIANG/ Chinese

27

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. WENMING WANG/ Chinese

Welding Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. QINGGUO YANG/ Chinese

Quality Inspector

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. SHOUZHENG SHE/ Chinese

Insulator Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. WUCHAO SHE/ Chinese

Insulator Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. SHUYIN TIAN/ Chinese

Insulator Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. DIANJIU XU/ Chinese

Boiler Fabrication Supervisor

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UNICORN (MANILA) CO., LTD. PHILIPPINE BRANCH Laguna Technopark-SEZ, Santa Rosa City, Laguna

MR. LANCAI XIE / Chinese

Operations Manager

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LANCE EXPERT TECHNOLOGY SOLUTIONS, INC. Brgy. San Francisco, Biñan City, Laguna

MR. MIANFENG FAN / Chinese

Customer Service Representative (Chinese)

35

CAL-COMP PRECISION (PHILIPPINES), INC FPIP II-SEZ, Sta. Anastacia, Santo Tomas, Batangas

MR. HUAYONG TANG / Chinese

Molding Injection Specialist

36

ITABASHI SEIKI PHILIPPINES, INC. CEPZ, Rosario, Cavite

MR. KOJI KANDACHI / Japanese

Japanese Maintenance Adviser

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KABISIG WORKERS COOPERATIVE MR. WENDONG YANG / Brgy. Maduya, Carmona, Cavite Chinese

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MS. QIONG XIAO / KABISIG WORKERS COOPERATIVE Chinese Brgy. Maduya, Carmona, Cavite

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KABISIG WORKERS COOPERATIVE MR. XIANWEN SHEN / Brgy. Maduya, Carmona, Cavite Chinese

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. CHI XU/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. XIAOYUN YE/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JUNHAO YAN/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIE YU/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. YUWU ZHANG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHAOHUI TANG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. WENMIN ZHU / Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. SHIGEN ZHANG/ Chinese

Chinese Customer Service Representative

48

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YAZHOU LI/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. QIAN ZHANG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. SHUAI YI/ Chinese

Chinese Customer Service Representative

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RELIANCE PRODUCERS COOPERATIVE (RPC) GMBP, Maduya, Carmona, Cavite

MR. WEI CHEN / Chinese

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HITACHI CABLE PHILIPPINES, INC. Technology Center, Lipa City, Batangas

MR. HIROYUKI FURUKAWA / Japanese

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POWER MEGAMIX BATCHING INC. Brgy. Marulas, Kawit, Cavite

MR. YISHENG SUN / Chinese

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 November 13, 2019

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP) Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s.

Name and Address of Company/Employer

Name and Citizenship of Foreign National

Position and Brief Description of Functions

1

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. FUZHONG ZHANG/ Chinese

2

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. YANSONG GAO/ Chinese

Boiler Fabrication Supervisor

3

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. WENTAO GAO/ Chinese

Boiler Fabrication Supervisor

4

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. CHAOZHENG LI/ Chinese

Boiler Fabrication Supervisor

5

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. GUANGMING OU/ Chinese

Boiler Fabrication Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. XUEPING JING/ Chinese

Welding Supervisor

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. JIANGUO GAO/ Chinese

Boiler Fabrication Supervisor

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. TAO LYU/ Chinese

Welding Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. HAN WU/ Chinese

Boiler Fabrication Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. GUIZHI XU/ Chinese

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. LIZHE DU/ Chinese

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. ZECHENG LI/ Chinese

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. JINMENG LI/ Chinese

Mandarin Speaking Interpreter

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. WENBAO LI/ Chinese

Boiler Fabrication Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. GANGKUI SHE/ Chinese

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. GUOCHAO ZHAO/ Chinese

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. FENGHE TAN/ Chinese

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. FUXING WANG/ Chinese

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

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8

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MR. ZHE LIU/ Chinese

Welding Supervisor

Site Supervisor

Assistant Manager

Quality Inspector

Insulator Supervisor

Welding Supervisor

Welding Supervisor

Welding Supervisor

Welding Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. CHENGSHUAI SUN/ Chinese

Mandarin Speaking Interpreter

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. CHONG WANG/ Chinese

Welding Supervisor

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. YONGJIE XU / Chinese

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CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. JIAN SHI/ Chinese

24

CHINA SOUTHEAST ASIA ELECTRICAL POWER CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. HAIJIAO ZHAO/ Chinese

Wednesday, November 13, 2019 A9

Welding Supervisor

Boiler Fabrication Supervisor

Finishing Manager

Quality Assurance Auditor

Pattern Maker

Technical Consultant Sewing Vice President

Chinese Trading Manager

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at the DOLE Regional Office within 30 days from the date of publication.

Boiler Fabrication Supervisor

Quality Control Supervisor

Welding Supervisor

Please inform the DOLE Regional Office if you have an information of any criminal offense committed by the foreign nationals.

HENRY JOHN S. JALBUENA Regional Director

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph AEP20191007263

A10 Wednesday, November 13, 2019

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If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, November 13, 2019

B1

PXP eyes Malampaya facilities to house integrated gas hub

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By Lenie Lectura

@llectura

PSTREAM oil and gas company PXP Energy Corp.

(PXP) has formalized its intent to participate in the LNG (liquefied natural gas) sector.

Pangilinan-led PXP said on Tuesday it submitted last Monday an unsolicited proposal to the Department of Energy (DOE) for the strategic development and utilization of an Integrated Gas Hub in Malampaya upon the expiry of Service Contract 38 (SC 38) in 2024.

PXP said the use of the Malampaya facilities as the Integrated Gas Hub will support the development of a robust indigenous gas industry. This, it added, is consistent with DOE’s commitment to pursue national development through the twofold agenda of attaining energy independence and implementing power market reforms as contained in the Philippine Energy Plan, and is aligned with the DOE’s clean fuel strategy, including the reduction of dependence on coal.

The unsolicited proposal is also seen to yield substantial foreignexchange savings resulting from

the reduced importation of coal and other fuel supply, added PXP. When sought for comment, Energy Secretary Alfonso Cusi said he needs to carefully study the proposal.

“I can’t say anything yet. I need to study it first. I’m waiting for the report of my staff and PNOC-EC [Philippine National Oil Co.-Exploration Corp.] management,” he said in a text message.

SC 38 covers the Malampaya gas-to-power project, which is being undertaken by the Malampaya consortium.

It is developed and operated

by SPEx (Shell Philippines Exploration BV) with a 45-percent stake on behalf of joint-venture partners Chevron Malampaya Llc.,also with a 45-percent stake and PNOC-EC, which holds the remaining 10 percent.

PXP has also expressed an interest to acquire the 45-percent ownership of Chevron Malampaya Llc. in SC 38

through the right to match of the other SC 38 consortium members.

SC 38 will expire in 2024. SPEx wants the contract extended but the DOE has yet to grant the request.

When asked how the possible entry of Pangilinan’s group will affect the consortium’s plans moving forward, SPEx said, “We cannot comment because we are not privy to details on whatever is happening among MVP [Manuel V. Pangilinan], Chevron and other parties.”

However, SPEx confirmed that it received advice from Chevron on its decision to sell its interest in the Malampaya gas project. “We are discussing the matter with Chevron,” an official from SPEx said.

“Our focus remains on operating the Malampaya natural gas facilities safely, reliably and efficiently to ensure we keep powering the Philippines with cleaner-burning, domestic natural gas,” added the official when sought for comment.

The gas facility supplies 40 percent of Luzon’s power requirements and 30 percent nationwide.

The gas facility fuels the following gas plants: the 1,000-megawatt Santa Rita, the 500-MW San Lorenzo, the 1,200-MW Ilijan, the 97-MW Avion and the 414-MW San Gabriel.

SPEx had said the Malampaya gas reserves could last up to 2027 or up to 2029, depending on the demand.

PXP said the Malampaya infrastructure and distribution network, strategically positioned in the West Philippine Sea, is envisioned to support the continued development of the Malampaya resources, as well as the economic development of Sampaguita Field and other nearby prospects under SC 72, which is operated by PXP through Forum (GSEC 101) Ltd. PXP Energy holds a 78.98-percent operating interest in SC 72 or the contract to explore Recto Bank in the West Philippine Sea through London-listed Forum Energy Plc. It also has a direct operating interest of 50 percent in SC 75 northwest Palawan. It is also waiting for guidance from the Philippine government in respect of any future activity in the SCs. “PXP, through Forum Energy Ltd., will take guidance from the Philippine government in respect of any future activity in SC 72 and SC 75. The company is mindful that the Malampaya gas resource, which supplies about 40 percent of Luzon’s power requirements, could be exhausted within the next decade.

The company, therefore, remains hopeful that the force majeure imposed on SC 72 and SC 75 will be lifted by the Department of Energy soon for the company to be able to resume exploration works in these SCs,” it said earlier.

Dennis Uy Shell to carry out fuel marking buys Wendy’s at its NMIF facility in C. de Oro stores in PHL

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DENNA Corp., the holding firm of Davao businessman Dennis Uy, has become the owner of the master franchise of Wendy’s fast-food restaurant in the country, owning all of 51 branches in the Philippines.

Udenna is buying Wendy’s through its food group unit Eight-8-Ate Holdings Inc. This is Uy’s venture in the country’s food business after buying Enderun Colleges, FamilyMart, and Conti’s Bakeshop and Restaurant.

“Food is a basic need and Filipinos love to eat. We want to be in industries where there is growth and we will continue to expand our footprint in the restaurant space by offering quality, affordable dining out options,” Uy said.

“Wendy’s is distinguished by 50 years of delivering exceptional restaurant experiences. Including, a quick meal made from fresh, high-quality ingredients, served by friendly people in a comfortable atmosphere, and at a fair price. As we embark on our next 50 years, we are focused on accelerating growth across the globe and we are excited to bring Wendy’s to even more valued customers in the Philippines through our partnership with Udenna and Eight-8-Ate,” ​Abigail Pringle, president, international and chief development officer at The Wendy’s Co. Eight-8-Ate said more restaurants are expected to open in key cities and provinces as part of an aggressive expansion plan.

“Eight-8-Ate’s tagline is ‘Delighting Generations.’ As two reputable brands that have been around for a long time, it is serendipitous that Wendy’s mission to ‘Delight Every Customer’ aligns with Conti’s ‘Delightfully Yours’ slogan.

With these two brands under Eight-8Ate, we aim to capture not just a bigger share of stomach, but moreover, bigger share of delight,”​Uy said. VG Cabuag

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ILIPINAS Shell Petroleum Corp. (PSP) vowed to comply with the government’s fuel marking program within the month.

The oil company said the program, which is meant to curb smuggling and deter revenue leakages, will be implemented at its 90-million-liter capacity North Mindanao Import Facility (NMIF) in Cagayan de Oro City.

Shell said it has already informed the Department of Finance (DOF) that it is ready to start automated fuel marking this month at its storage facility servicing the requirements of Visayas and Mindanao.

“We are coordinating with the DOF and its contractor on how a manual fuel marking process may be safely implemented in a complex facility like a refinery to meet their aspirations for an earlier start-up. We are working double-time to start automated fuel marking at our manufacturing facility by February 2020,” said Serge Bernal, vice president for External and Government Relations.

The distribution of marked fuels to over 1,000 Shell retail sites nationwide will start in the Mindanao and Visayas regions from November 2019, and in the Luzon region from February 2020. The complete distribution of marked fuels to all Shell retail sites will take two to three months.

Shell, together with other members of the Philippine Institute of Petroleum (PIP), is working closely with the DOF to ensure the program’s proper and effective implementation.

The fuel marking program, it stressed, aims to minimize oil smuggling and misdeclaration, which reportedly costs at least P40 billion in annual revenue losses according to the DOF’s estimates.

“We are working very hard to install an automated method because Shell puts paramount importance on personal and process safety. We do not want to expose anyone, whether it is our personnel or those of our government and business partners to risks inherent in manual processes.

We can now start automated fuel marking at NMIF, and we intend to do the same at the refinery to minimize safety risks, reduce the need for additional manpower and costs, and minimize delays that are expected to impact on production and delivery of needed oil products and services,” added Bernal.

Earlier this year, Shell provided the DOF with access to its fuel marking experts from Shell & Turcas Petrol A.Ş. in Turkey. Turkey is the only other

country that has implemented fuels marking on a nationwide scale.

Under the fuel marking program, a unique chemical marker will be introduced to all petroleum products—gasoline, diesel and kerosene—to make it traceable, thereby making it difficult to dilute fuel, deliver it to a different destination or substitute it with a substandard grade. This will serve as a deterrent to fuels smuggling—therefore enhancing government revenues—because it enables quicker detection of illicit fuels once the local market is fully satu-

rated with marked petroleum products.

“Unlike the NMIF, which is essentially a storage facility, there are quite a number of safety risks involved in manually marking fuel in a dynamic environment like a refinery. We want to ensure that we minimize these risks for the safety of the government personnel who will be conducting the fuel marking, our employees and contractors who form part of the manufacturing, supply and delivery chain, those living in the fence line communities and ultimately, our consumers,” said Bernal. Lenie Lectura

EVIA’S ALL LIT UP Vista Land Chairman Manny Villar and Vista Land Managing Director

Camille Villar lead the annual Christmas tree lighting at Evia Lifestyle Center, a premium dining and entertainment destination in the South. Mall-goers were serenaded with Christmas carols

by The UP Singing Ambassadors and Cris Villonco, and were treated to Evia’s signature Christmas snow blast and a grand fireworks display at the Promenade. CONTRIBUTED PHOTO

Ayala Corp. income almost doubles in 9 mos

By VG Cabuag @villygc

A

YALA Corp. said its net income almost doubled during the nine months of the year to reach P46.2 billion from last year’s P23.86 billion, lifted by the solid contribution of its banking, telecommunications, real estate and power units.

Equity earnings from Ayala’s business units grew 77 percent to P51.9 billion, boosted by contributions coming from the Bank of the Philippine Islands (BPI), Ayala Land and AC Energy.

Ayala also recognized gains from the merger of AC Education with iPeople and from the partial divestment of AC Energy’s thermal assets.

All these cushioned the impact of weaker results of AC Industrials, which is experiencing headwinds from what it called one of the sharpest and most widespread downturns in global manufacturing, it said.

In the third quarter alone, Ayala’s net profits expanded 6 percent to P8.3 billion from last year’s P7.79 billion supported by robust results from BPI and AC Energy. Equity earnings from Ayala’s business units, meanwhile, rose 4 percent year-on-year to P10.2 billion in the third quarter.

“We are pleased to see sustained growth in most of our core businesses continuing to provide stability in our earnings. AC Energy has quickly become a significant contributor to our portfolio,” Ayala President and COO Fernando Zobel de Ayala said in a statement.

“We continue to be mindful of the challenges in some sectors, particularly AC Industrials and the global manufacturing space.

“We believe the strategies put forth in AC industrials continue to be promising but are saddled near-term by geopolitical and trade issues. The pipeline of op-

portunities remains strong and efforts to manage the effects of this near-term uncertainty are being aggressively addressed,” he said.

Mea nwh i le, Aya l a Hea lt hcare Holdings Inc., a unit of the conglomerate, has expanded its pharma portfolio with new investments into IE Medica, one of the major importers of pharmaceutical products in the country, and MedEthix, its affiliated distribution company.

The agreement, in which AC Health acquired minority stakes in both companies, was signed on Tuesday between IE Medica’s principals, Vasant and Monaliza Salian, and the AC Health leadership team led by Zobel, AC Health President and CEO Paolo Borromeo.

“Our investment into IE Medica and MedEthix fits well with AC Health’s overall vision to improve health care. The Salians have built an impressive platform, and we are happy they share in our vision to bring quality, affordable medicines to more Filipinos,” Zobel said.

The investments in IE Medica and MedEthix will allow AC Health to vertically integrate its pharmaceutical portfolio, and further strengthen the supply chain for its network of over 800 Generika pharmacies, and 70 FamilyDOC primary care clinics. In the future, this partnership will also allow AC Health to offer more affordable medicines at its cancer hospital, which will open in 2022.

IE Medica and MedEthix were founded by Vasant and Monaliza Salian in 2006 and 2009, respectively, with the goal of importing and distributing a wide range of medicines, including generics and innovative drug delivery systems. Since then, the company has grown to become a key player in the pharmaceutical industry, and has established its presence across various therapeutic areas.

B2

Companies BusinessMirror

Wednesday, November 13, 2019

PSE STOCK QUOTATIONS

November 12, 2019

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

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

54.3 156 96.35 25.1 13.5 68.35 44.5 116.5 25.75 195.3 60.25 1.14 1.9 18.4 4.37 0.395 0.87 174.8

54.35 156.4 96.5 25.25 13.6 68.4 44.7 128.9 25.85 195.5 60.65 1.19 2.06 18.6 4.44 0.415 0.89 175

54.45 155 97.3 25.45 13.4 68.5 44.6 116.6 25.85 200.6 61.5 1.14 2.05 18.6 4.41 0.4 0.87 175

54.45 156.4 98 25.45 13.64 68.75 44.95 116.6 25.9 201.4 61.5 1.15 2.05 18.6 4.43 0.4 0.88 175

54.3 153 96 25.1 13.24 67.6 43.85 116.5 25.7 195 60.05 1.14 2.05 18.6 4.35 0.4 0.87 175

54.35 156.4 96.5 25.1 13.5 68.4 44.5 116.5 25.75 195.5 60.25 1.15 2.05 18.6 4.43 0.4 0.88 175

10650 2173660 1246900 32100 2974800 2003860 37000 110 14600 842790 1800 53000 3000 5900 149000 20000 157000 80

579349.5 335710901 120213768 807070 40108960 137035328.5 1638425 12822 377035 165117278 109134 60520 6150 109740 650320 8000 137090 14000

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

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

261310 12381271 -13404811 -72855 18431254 90740124 41090 -18025 6195428 -0 -

2.73 1.26 37.75 0.241 24.3 78.5 344 19 4.99 4.12 11 33.4 7.7 13.38 4.04 17.68 15.1 5.06 8.68 7.25 89.75 0.65 47.6 219.8 41.6 8.91 13.08 1.76 11.72 1.97 5.48 1.92 0.126 155.1 1.29 73 2.52 5.54 15.08 10.4 14.24 16.7 9.31 1.07 1.07 2.05 5.11 3.45 5.15 30.15 2.17 8.03 1.43 5.15 0.95 7.99

2.74 1.31 37.9 0.247 24.35 78.65 347 19.2 5 4.3 11.18 33.45 7.8 13.7 4.05 18.48 15.14 5.48 8.7 7.28 89.8 0.66 48.1 220 48.95 9.18 13.16 1.77 11.8 1.98 5.5 2.01 0.128 156 1.3 73.65 2.53 5.87 15.2 10.44 14.44 16.96 9.55 1.09 1.09 2.11 5.14 3.57 5.2 31 2.19 8.08 1.48 5.59 0.97 8

2.69 1.27 39.15 0.247 24.65 79 345.4 19 5.01 4.12 11.18 33.9 7.78 13.68 4.12 17.9 15.1 5.48 8.88 7.29 91.1 0.65 48.15 224 40.2 9 13.26 1.7 11.88 1.92 5.47 1.92 0.126 154.6 1.33 69 2.51 5.55 15.16 10.3 14.24 17 9.55 1.06 1.07 2.12 5.11 3.5 5.19 31 2.17 8.1 1.45 5.15 0.97 7.91

2.78 1.31 39.15 0.247 24.75 79 347 19.2 5.01 4.12 11.2 33.95 7.8 13.7 4.12 18.48 15.18 5.49 8.88 7.42 91.35 0.65 48.75 224.8 40.2 9.2 13.26 1.76 11.88 1.98 5.5 1.92 0.129 157 1.34 73.65 2.57 5.55 15.36 10.5 14.44 17.2 9.7 1.08 1.09 2.12 5.11 3.57 5.3 31 2.22 8.1 1.45 5.59 0.97 8.05

2.68 1.2 37.65 0.241 24.25 78.4 341.2 18.9 4.97 4.12 11 33.4 7.64 13.54 4.03 17.9 15.02 5 8.7 7.2 89.8 0.64 47.5 220 40.2 8.81 13.08 1.66 11.7 1.88 5.47 1.92 0.126 153.2 1.3 69 2.49 5.55 15.02 10.28 14.2 16.5 9.55 1.06 1.06 2.1 5.11 3.44 5.17 31 2.16 8.01 1.43 5.15 0.97 7.85

2.74 1.31 37.75 0.247 24.35 78.5 347 19 5 4.12 11.18 33.45 7.8 13.7 4.04 18.48 15.14 5.04 8.7 7.26 89.8 0.65 48.2 220 40.2 9.19 13.08 1.76 11.8 1.97 5.49 1.92 0.126 156 1.3 73.65 2.52 5.55 15.08 10.44 14.44 16.7 9.55 1.08 1.09 2.1 5.11 3.57 5.2 31 2.19 8.08 1.43 5.15 0.97 7.99

12846000 943000 1953200 30000 961800 11490 95900 970900 2483800 5000 56600 148500 68700 222200 2316000 12800 3382600 56700 1346200 438700 268550 637000 24200 734710 100 9700 2541100 4957000 415300 1696000 112000 1000 280000 387420 11769000 310 1769000 15000 200900 425400 63600 1848100 75800 106000 764000 158000 40100 6000 46800 1600 8276000 160200 177000 1000 26000 307800

35058400 1169410 74136305 7350 23416155 904199.5 33075154 18381294 12401315 20600 628160 4970590 534033 3034746 9411690 233942 51169184 296723 11816961 3177026 24142437.5 410530 1157375 162683404 4020 87339 33411264 8540890 4898798 3275930 614605 1920 35330 60258573 15609250 22127.5 4464500 83250 3033464 4403932 917554 30853606 729982 113810 820330 333500 204911 20960 245618 49600 18087850 1286948 253700 5254 25220 2444243

-1565740 -41213040 -12286105 -375260.5 -2644716 -7487168 -4939859 -2248970 14630 180396 122190 -7818182 -1463923 -754863 -19070761 -298640 -117950026 27708646 2330560 483908 -58200 5049594 -6976010 -406880 346522 -3228368 -106582 -25476768 -16050 -193740 -94340 -49600 9205760 -528445 80422

0.86 11.98 839.5 54.95 11.64 3.5 6.58 0.73 1.12 6.8 8.01 13.2 3.76 0.203 899.5 77.5 0.495 4.16 12.4 4.63 0.037 1.37 1.26 360 1065 163.5 0.84 2.25 218 0.23

0.87 12 840 55 11.68 3.52 6.89 0.74 1.13 6.9 8.06 13.36 4.11 0.204 904 78 0.51 4.17 12.42 4.64 0.038 1.39 1.3 436.2 1068 163.8 0.86 2.32 227 0.234

0.86 12.4 854.5 54.4 11.38 3.5 6.55 0.73 1.11 6.91 7.95 13.38 3.86 0.206 890 77.5 0.51 4.15 12.7 4.7 0.037 1.33 1.27 400 1058 165.5 0.84 2.26 221 0.235

0.88 12.78 854.5 55.1 11.72 3.55 6.56 0.74 1.14 6.91 8.09 13.38 3.86 0.206 909.5 78.95 0.51 4.17 12.7 4.75 0.037 1.39 1.3 436.2 1068 165.5 0.84 2.26 221 0.235

0.85 12 838 54.2 11.14 3.5 6.55 0.73 1.11 6.79 7.82 13.14 3.78 0.204 875 77.3 0.49 4.15 12.42 4.64 0.037 1.33 1.27 400 1054 163 0.84 2.25 218 0.23

0.87 12 840 55 11.64 3.5 6.56 0.73 1.13 6.9 8.06 13.38 3.78 0.204 904 78 0.51 4.16 12.42 4.64 0.037 1.39 1.3 400 1068 163.8 0.84 2.25 218 0.234

18957000 154300 560130 891600 20756700 1079000 13000 108000 693000 10292100 12753600 4800 21000 180000 47340 911980 19000 696000 4944700 18035000 27000000 147000 139000 400 129930 114330 60000 13000 1900 110000

16394470 1883266 471262450 48705803.5 239751204 3784800 85275 79010 780340 70252679 102233879 63144 80200 36920 42106445 71103715.5 9375 2888660 61572642 84359560 999000 202600 176560 160362 138410270 18748415 50400 29290 417642 25440

-2079120 -12400 -205507250 -18684648 -32604856 -70490 243381 7108049 -2628 1517285 21506499.5 -45670 -17022780 17141650 22697070 -10270380 -

PROPERTY

ARTHALAND CORP 0.91 0.93 0.9 0.95 0.9 0.93 5852000 5437090 AYALA LAND 46.5 46.8 46.8 46.85 46.25 46.5 4686800 217938640 -60486225 BELLE CORP 2.03 2.06 2.03 2.06 2 2.03 808000 1637970 -119729.9997 A BROWN 0.8 0.81 0.81 0.81 0.8 0.8 196000 156960 CITYLAND DEVT 0.85 0.86 0.86 0.86 0.86 0.86 2000 1720 CROWN EQUITIES 0.201 0.203 0.201 0.203 0.201 0.203 200000 40380 CEB LANDMASTERS 4.7 4.71 4.67 4.75 4.67 4.7 327000 1543350 9270 CENTURY PROP 0.61 0.62 0.59 0.62 0.59 0.61 46486000 27897120 -197230 CYBER BAY 0.46 0.465 0.465 0.465 0.46 0.465 970000 446900 DOUBLEDRAGON 19.84 19.98 20 20.1 19.82 19.84 167000 3328357 -1706668 DM WENCESLAO 10.2 10.3 10.34 10.38 10.02 10.2 52600 538490 EMPIRE EAST 0.465 0.48 0.48 0.49 0.465 0.48 1320000 628600 -9600 FILINVEST LAND 1.63 1.64 1.64 1.66 1.63 1.63 13192000 21712790 -2408820 GLOBAL ESTATE 1.24 1.28 1.28 1.29 1.25 1.25 657000 834290 8990 HLDG 14.84 14.88 14.88 14.88 14.84 14.84 15100 224616 -26712 PHIL INFRADEV 1.42 1.44 1.43 1.48 1.42 1.42 1778000 2546240 -616700 MEGAWORLD 4.84 4.85 4.89 4.9 4.83 4.85 13179000 63981510 -2873760 MRC ALLIED 0.285 0.29 0.29 0.29 0.28 0.29 9580000 2711250 PRIMEX CORP 2.01 2.02 2.02 2.02 2.01 2.02 67000 135240 ROBINSONS LAND 26.2 26.35 26.05 26.4 25.15 26.35 956900 24993205 775175 PHIL REALTY 0.37 0.38 0.375 0.375 0.37 0.37 410000 151750 ROCKWELL 2.21 2.31 2.27 2.27 2.2 2.21 672000 1491660 SHANG PROP 3.22 3.29 3.32 3.32 3.24 3.24 23000 75280 STA LUCIA LAND 2.45 2.46 2.48 2.58 2.45 2.46 1330000 3304670 -441550 SM PRIME HLDG 39.75 39.9 39.25 39.9 39.15 39.9 4420300 174948550 16517635 VISTAMALLS 5.44 5.48 5.53 5.53 5.4 5.48 24800 134741 SUNTRUST HOME 1.57 1.58 1.5 1.59 1.5 1.58 18734000 29157580 -29450 PTFC REDEV CORP 45.15 50 45.15 52 45.15 50 920 45039 VISTA LAND 7.67 7.69 7.69 7.71 7.67 7.69 2657600 20428420 -8302312

SERVICES ABS CBN 18 18.16 18.08 18.18 18 18 162000 2921156 GMA NETWORK 5.26 5.27 5.29 5.3 5.25 5.27 225400 1187545 MANILA BULLETIN 0.405 0.415 0.405 0.405 0.405 0.405 40000 16200 GLOBE TELECOM 1907 1910 1918 1918 1881 1910 20060 38159470 10807970 PLDT 1106 1108 1117 1117 1105 1108 46105 51067495 -10512630 APOLLO GLOBAL 0.039 0.041 0.041 0.041 0.041 0.041 2500000 102500 IMPERIAL 1.73 1.81 1.8 1.8 1.8 1.8 5000 9000 ISLAND INFO 0.105 0.107 0.106 0.107 0.105 0.107 970000 102330 ISM COMM 4.71 4.72 4.78 4.79 4.7 4.71 1379000 6518200 395960 NOW CORP 3.24 3.25 3.2 3.3 3.12 3.24 6315000 20241440 433700 TRANSPACIFIC BR 0.33 0.335 0.325 0.335 0.325 0.33 630000 207050 PHILWEB 2.98 3 3 3.02 2.98 3 373000 1114060 -62680 2GO GROUP 10.08 10.56 10.56 10.56 10 10.08 43300 446060 CHELSEA 6.48 6.49 6.44 6.49 6.4 6.48 651600 4192191 -95315 CEBU AIR 94.6 94.9 96 96 94 94.9 16660 1587988.5 164658 INTL CONTAINER 123.2 123.9 126 126 122 123.9 1226030 151844469 -185769 LBC EXPRESS 13.54 13.98 13.54 13.98 13.54 13.98 800 11140 MACROASIA 19.42 19.44 19.22 19.74 19.2 19.44 450400 8811474 -3792632 METROALLIANCE A 1.05 1.1 1.05 1.05 1.05 1.05 15000 15750 PAL HLDG 7.97 8.2 8 8.25 7.96 8 71000 567500 HARBOR STAR 1.57 1.58 1.58 1.6 1.57 1.58 457000 723710 ACESITE HOTEL 1.52 1.58 1.52 1.58 1.52 1.58 36000 54780 GRAND PLAZA 10.44 10.88 10.44 11.08 10.44 11.08 600 6328 WATERFRONT 0.66 0.67 0.66 0.67 0.66 0.67 151000 99850 FAR EASTERN U 890.5 919 895 895 890.5 890.5 200 178230 97955 IPEOPLE 8.21 8.5 8 8.21 8 8.21 18400 149605 -21600 STI HLDG 0.67 0.68 0.69 0.69 0.68 0.68 714000 485630 BERJAYA 2.6 2.62 2.57 2.62 2.56 2.6 371000 961480 -7830 BLOOMBERRY 10.96 11 10.78 11 10.78 11 1741900 19076598 4326732 PACIFIC ONLINE 2.62 2.76 2.63 2.76 2.63 2.76 41000 108630 LEISURE AND RES 3.06 3.07 3.1 3.2 3.06 3.06 339000 1045710 61200 MANILA JOCKEY 3.4 3.45 3.4 3.4 3.4 3.4 1000 3400 PH RESORTS GRP 4.64 5.15 4.73 4.73 4.63 4.73 6000 28100 -13910 PREMIUM LEISURE 0.66 0.67 0.68 0.68 0.66 0.67 1456000 974480 -163110 ALLHOME 11.22 11.36 11.34 11.36 11.2 11.36 9189100 104080100 -29693556 METRO RETAIL 2.42 2.46 2.48 2.49 2.39 2.47 1148000 2771360 -115730 PUREGOLD 38.4 39.5 39.25 39.7 38.4 38.4 185200 7141530 -3075895 ROBINSONS RTL 76 76.65 76.75 76.75 75.85 76.65 420570 32236117.5 -1752154 SSI GROUP 2.8 2.81 2.72 2.83 2.72 2.81 2963000 8239430 2368390.0001 WILCON DEPOT 17.4 17.42 17.22 17.7 17.2 17.4 4121700 71791278 52284274 APC GROUP 0.5 0.51 0.495 0.52 0.49 0.51 7438000 3703745 92060 EASYCALL 8.99 9.15 9.03 9.15 8.99 9.15 32600 293461 GOLDEN BRIA 419.2 429.4 420.2 430 419.6 419.6 300 126564 IPM HLDG 3.11 3.32 3.25 3.25 3.11 3.11 13000 41910 PAXYS 2.65 2.87 2.87 2.87 2.87 2.87 2000 5740 PRMIERE HORIZON 0.47 0.475 0.465 0.48 0.46 0.475 8550000 4032100 -839700 SBS PHIL CORP 9.01 9.29 9.12 9.29 9.01 9.29 21500 195365

MINING & OIL ATOK 11.58 12.22 12.24 12.24 12.24 12.24 100 1224 APEX MINING 1.11 1.12 1.11 1.13 1.11 1.11 1571000 1763880 -562000 ATLAS MINING 2.55 2.58 2.55 2.55 2.55 2.55 1000 2550 BENGUET A 1.09 1.21 1.09 1.09 1.09 1.09 10000 10900 COAL ASIA HLDG 0.28 0.29 0.28 0.28 0.28 0.28 120000 33600 CENTURY PEAK 2.53 2.54 2.55 2.55 2.54 2.54 204000 518200 -492760 FERRONICKEL 1.79 1.8 1.84 1.84 1.78 1.8 5484000 9817960 466700 GEOGRACE 0.204 0.208 0.205 0.21 0.204 0.208 340000 69920 LEPANTO A 0.103 0.105 0.104 0.104 0.103 0.104 2050000 213150 MANILA MINING B 0.009 0.0098 0.0092 0.0092 0.0091 0.0091 7000000 64000 MARCVENTURES 1.06 1.07 1.1 1.1 1.06 1.07 821000 873820 127700 NIHAO 1.03 1.06 1.07 1.07 1.03 1.06 16000 16550 NICKEL ASIA 3.59 3.6 3.57 3.61 3.39 3.6 16498000 57863430 3008180 OMICO CORP 0.48 0.5 0.5 0.5 0.5 0.5 50000 25000 ORNTL PENINSULA 0.82 0.84 0.82 0.84 0.82 0.84 12000 9860 PX MINING 3.36 3.38 3.41 3.42 3.36 3.38 884000 3003050 105300 SEMIRARA MINING 23.55 23.6 23.7 23.75 23.5 23.55 344700 8122010 -246395 UNITED PARAGON 0.0058 0.0061 0.0061 0.0061 0.0061 0.0061 10000000 61000 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.011 26300000 302200 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 9400000 112800 PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 3200000 35200 PHINMA PETRO 12.2 12.22 11.38 12.2 11.12 12.2 3151200 37657278 157958 PXP ENERGY 12.28 12.3 12 12.32 11.84 12.3 764700 9307804 -2173910

PREFFERED

HOUSE PREF A 96.5 99 99.95 99.95 99 99 3780 377260 AC PREF B1 507 508 507 507 504 507 3000 1518000 DD PREF 100.5 101 101 101 101 101 101180 10219180 SMC FB PREF 2 998 1000 998 998 998 998 10 9980 FGEN PREF G 109.3 109.5 109.5 109.5 109.5 109.5 19960 2185620 GLO PREF P 506 510 506 506 506 506 1000 506000 GTCAP PREF A 980 1000 980 980 980 980 1000 980000 GTCAP PREF B 980 1000 982 1000 982 1000 8980 8973390 LR PREF 1.01 1.02 1.01 1.02 1.01 1.02 101000 102020 MWIDE PREF 100 101 101.5 101.5 100.9 101 1990 200985 PNX PREF 3A 101 101.9 101.9 101.9 101.9 101.9 90 9171 PNX PREF 3B 108 109.5 109 109.5 109 109.5 4430 482915 PNX PREF 4 1031 1033 1030 1034 1030 1032 3160 3256170 -309000 PCOR PREF 2B 1026 1035 1034 1035 1034 1035 10 10345 PCOR PREF 3A 1050 1052 1050 1050 1050 1050 150 157500 PCOR PREF 3B 1062 1080 1078 1082 1078 1080 7450 8049700 -199650 SMC PREF 2C 78.1 78.15 78.5 78.5 78.15 78.15 6720 525329 SMC PREF 2D 75.05 75.3 75.1 75.1 75.1 75.1 75000 5632500 SMC PREF 2E 75.15 77 75.15 77 75.15 77 13380 1027390 SMC PREF 2F 76.15 76.5 76.1 76.1 76.1 76.1 4200 319620 SMC PREF 2H 75.1 75.3 75.15 75.15 75.1 75.15 65000 4883000 SMC PREF 2I 75.1 75.8 75.8 75.8 75.4 75.7 235800 17845400 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

17.12 5.12

17.4 5.24

17.3 5.24

17.4 5.24

17.1 5.24

17.4 5.24

295800 200

5138600 1048

WARRANTS LR WARRANT

1.54

-304488 -

1.59

1.53

1.6

1.53

1.6

16000

25180

-

ITALPINAS 6.88 KEPWEALTH 14.1 MAKATI FINANCE 2.57 XURPAS 1.06

6.89 14.12 2.8 1.07

6.9 14 2.57 1.03

7.07 15.4 2.57 1.07

6.83 13.58 2.57 1.01

6.88 14.12 2.57 1.06

913100 7755900 18000 8437000

6314824 113387356 46260 8817030

361022 -408572 -53500

FIRST METRO ETF

119.9

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 119.5

119.8

119.9

119.4

119.9

4340

519790

119800

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AyalaLand investing ₧18B to develop former sugar mill

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By VG Cabuag

@villygc

YALA Land Inc. (ALI) on Tuesday said it is investing some P18 billion to transform a 290-hectare property, a former sugar mill in Tarlac into an integrated mixed-use estate that will function as a progressive new downtown.

The estate, which it called Cresendo, will feature components, such as an industrial park, a residential and commercial areas. The property used to be part of the sugar mill of Central Azucarera de Tarlac (CAT).

About P5.5 billion of the total investment has been allocated for Phase One of the development, which will become the 1.5-hectare civic plaza, church, school, retail strip, residences, transport terminal and an industrial park.

This will be part of Cresendo’s 30-hectare urban core highlighting

the estate’s modern Filipino design, with pocket parks and pedestrian promenades, the company said.

The estate is approximately 3 kilometers away from the Subic-ClarkTarlac Expressway and MacArthur Highway.

Surrounding the Cresendo central plaza will be commercial lots for sale from 500 square meters to 2,000 square meter cuts.

“Our vision is to encourage more homegrown entrepreneurs and new businesses at Cresendo. The property is strategically located, and has a

young and growing population that makes it one of the promising areas in the region,” John Estacio, Cresendo estate head, said.

While 59 percent of the estate has been allocated for residential projects initially by ALI’s Avida Land, about 11 percent has been set for the 32-hectare Cresendo Industrial Park, which will have various lot sizes ranging from 1,200 square meters to 10,000 square meters, for sale at P6,000 to P9,000 per square meters.

The industrial park is intended for light to medium industries in nonpolluting, nonhazardous enterprises.

It has so far attracted locators for manufacturing logistics, warehousing, and others in need of standard factory buildings.

Cresendo Industrial Park will have highway-grade concrete roads, digital hybrid fiber-optic telecommunication network, a dedicated power substation and ample supply of water.

It is set to open in 2022 and will initially generate approximately 2,000 jobs.

The estate will be the site of the Don Bosco Technical Institute, which will open its senior high school starting 2022, followed by the opening of the technicalvocational education and training center. This first-of-its-kind institution in Tarlac will offer technical skills education and establish innovation centers for the youth.

“The school aligns closely with the vision of Cresendo as a place with opportunities for employment, education and growth. Graduates will have a higher probability of employment in the industrial park, the commercial district or to even venture into starting their own business,” Estacio said.

Aside from the industrial park and the school, Cresendo is also expected to have built up its transport terminal and first residential subdivision by 2022.

Some 31 percent of the estate will be dedicated to the network of civic spaces, highlighted by the 1.5-kilometer greenway connecting the central plaza and the 7-hectare river terraces.

Quake-damaged Kidapawan Substation restored by NGCP

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HE National Grid Corp. of the Philippines (NGCP) restored earthquake-damaged Kidapawan Substation last Sunday, seven days ahead of schedule.

With this, the substation can now fully accommodate power from Mount Apo Geothermal Power Plant (MAGPP) to the Mindanao grid once it goes online.

The Kidapawan Substation earlier suffered damage to its highvoltage substation equipment and control-room facilities due to the 6.7-magnitude earthquake in Tulunan, Cotabato, last October 31.

Despite the damage to facilities, supply of power to electricity consumers in the area was uninterrupted as NGCP was able to shift and transfer power supply through its Tacurong Substation.

“We are pleased to report that

with the collective efforts of our Mindanao personnel and additional line crews from Visayas and South Luzon, we were able to energize Kidapawan Substation and Kidapawan-Matanao 138kV Line 1 and 2 one week ahead of schedule. Our customers can be assured that we will continue monitoring the situation in the area,” said the grid operator.

NGCP defers to the Department of Energy (DOE) on the status of generation, sub-transmission lines owned by the electric cooperatives and distribution lines.

NGCP is a Filipino-led, privately owned company in charge of operating, maintaining, and developing the country’s power grid, led by majority shareholders Henry Sy Jr. and Robert Coyiuto Jr. Lenie Lectura

CPG income grows 81% in 9 mos

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ROPERTY developer Cent u r y P roper t ies Group (CPG) Inc. grew 81 percent to P1.2 billion, from last year’s P661 million as its diversification strategy to go into other developments started bearing fruit.

Consolidated revenues rose to 36 percent to P9.8 billion, from P7.2 billion year on year.

“CPG’s strong nine months’ performance is the result of management’s strategy to diversify its business segments. We are very confident because the plan is materializing and income contributions from our new businesses are growing,” CPG President and CEO Marco R. Antonio said.

The company reported higher net income streams not only from its in-city vertical developments but also from its affordable housing and commercial leasing businesses.

The in-city vertical developments accounted for 65 percent at P773 million, affordable housing for 18 percent at P220 million, leasing for 14 percent at P166 million and property management for 3 percent at P35 million.

For the first nine months of 2019, the company completed Roxas West Tower w ith 500

units at the Residences at Commonwealth in Quezon City; the Iguazu YOO inspired by Starck tower with 492 units at Acqua Private Residences; the Bahamas tower with 846 units at Azure Urban Resort Residences in Parañaque City, fully completing the nine-tower man-made beach development; and PHirst Park Homes Tanza, Cavite, with 517 housing units.

In the last two months of the year, CPG will substantially complete Quirino West and East towers at Commonwealth with 1,015 units; the 41-story Century Diamond Tower office building at Century City Makati with 63,110 square meters of gross floor area; and 325 more housing units at PHirst Park Homes Tanza and Lipa.

“We expect to sustain the company’s strong performance in the coming months which will be supported by our upcoming project completions and the pipeline that is aligned with our diversification strategy. We are continuously mindful of keeping our balance sheet robust and healthy, and making our operations even more efficient,” Ponciano S. Carreon Jr., the company’s CFO, said. VG Cabuag

MUTUAL FUNDS

November 12, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 257.53 8.23% 0.83% -0.37% 2.11% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5079 10.57% 2.32% 0.05% 4.66% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.885 5.55% -1.3% -2.12% -0.46% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9376 11.3% N.A. N.A. 4.06% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8695 11.98% N.A. N.A. 5.95% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4494 11.22% 2.06% 0.12% 3.34% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8766 12.15% -1.91% N.A. 4.77% MBG EQUITY INVESTMENT FUND, INC. -A 112.84 3.81% N.A. N.A. -2.86% PAMI EQUITY INDEX FUND, INC. -A 52.5812 14.15% 3.14% N.A. 6.82% PHILAM STRATEGIC GROWTH FUND, INC. -A 545.66 13.2% 1.86% 0.13% 6.01% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3216 11.31% 2.66% 1.44% 5.39% PHILEQUITY FUND, INC. -A 38.8787 12.21% 3.61% 1.18% 6.13% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,1 1.0412 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.3493 15.49% 3.96% 2.16% 7.87% PHILIPPINE STOCK INDEX FUND CORP. -A 893.16 15.49% 3.88% 2.09% 7.81% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.8976 10.91% 1.57% N.A. 4.37% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3139 11.89% 3.2% 1.23% 6.28% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0257 15.03% 3.74% N.A. 7.48% UNITED FUND, INC. -A 3.7348 13.14% 5.06% 2.61% 6.68% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 119.7478 15.85% 4.63% 3.11% 8.13% ATRAM ASIAPLUS EQUITY FUND, INC. -B

$1.0032 5.61% 4.75% 0.11% 7.98% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.3209 7.15% 8.82% N.A. 19.52% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.5907 -0.49% -2.48% -3.67% -3.66% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2646 6.07% -0.08% -0.49% 2.51% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6622 10.35% 2.16% -0.86% 4.68% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,5 0.2363 N.A. N.A. N.A. N.A. GREPALIFE BALANCED FUND CORPORATION -A 1.353 7.33% N.A. N.A. 3.73% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9756 10.85% 2.7% 1.24% 7.19% PAMI HORIZON FUND, INC. -A 3.8285 13.61% 1.84% 0.52% 8.48% PHILAM FUND, INC. -A 17.1329 12.56% 1.73% 0.43% 7.7% SOLIDARITAS FUND, INC. -A 2.1628 8.45% 1.91% 1.26% 4.52% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9136 11.15% 2.76% 0.97% 7.18% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,2 1.0292 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,2 1.016 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,2 1.0133 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9916 10.42% 2.19% 0.26% 7.58% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03787 9.07% 2.17% 1.93% 7.28% PAMI ASIA BALANCED FUND, INC. -A $1.0151 6.76% 3.9% 0.36% 11.1% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.793 6.66% 6.46% 3.4% 14.64% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,7 $1.1064 5.9% 3.81% N.A. 10.09% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 355.99 4.08% 2.65% 2.27% 3.65% ATRAM CORPORATE BOND FUND, INC. -A 1.9245 4.02% 0.44% -0.14% 3.51% COCOLIFE FIXED INCOME FUND, INC. -A 3.0985 4.93% 5.23% 5.2% 4.11% EKKLESIA MUTUAL FUND INC. -A 2.213 4.24% 2.04% 1.91% 3.94% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3454 6.49% 1.9% 1.51% 6.36% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6086 3.04% 0.45% -0.05% 2.83% PHILAM BOND FUND, INC. -A 4.337 13.09% 1.97% 1.65% 10.64% PHILEQUITY PESO BOND FUND, INC. -A 3.7566 8.19% 2.42% 1.54% 6.81% SOLDIVO BOND FUND, INC. -A 0.9546 8.51% 0.87% N.A. 7.11% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0469 11.05% 4.06% 2.51% 10.16% SUN LIFE PROSPERITY GS FUND, INC. -A

1.6833 10.58% 3.45% 2% 9.31% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $466.11 4.43% 2.15% 2.83% 3.95% ALFM EURO BOND FUND, INC. -A Є219.52 3.01% 1.36% 1.4% 3.22% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2022 7.22% 2.56% 2.56% 6.8% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0257 3.63% 1.2% 1.29% 3.63% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7084 1.18% -0.92% 0.26% 1.08% PAMI GLOBAL BOND FUND, INC -A $1.09 6.89% 0.31% -0.96% 5.18% PHILAM DOLLAR BOND FUND, INC. -A $2.3818 11.75% 2.42% 3.05% 9.72% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0601978 5.82% 2.03% 2.02% 5.61% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.137 9.17% 1.83% 2.54% 9.22% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 125.24 4.16% 2.74% 2.13% 3.61% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,3 1.0285 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2467 6.04% 2.5% 1.57% 5.48% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2595 3.84% 2.83% 2.26% 3.31% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.035 2.13% N.A. N.A. 1.88% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - LAUNCH DATE IS JANUARY 3, 2019. 2 - LAUNCH DATE IS JANUARY 28, 2019. 3 - LAUNCH DATE IS FEBRUARY 1, 2019. 4 - LAUNCH DATE IS AUGUST 1, 2019.

5 - LAUNCH DATE IS SEPTEMBER 28, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.).

7 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST OCTOBER 9, 2019.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa. com.ph to see the latest NAVPS/NAVPU."

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BusinessMirror

Wednesday, November 13, 2019 B3

B4 Wednesday, November 13, 2019

BusinessMirror

www.businessmirror.com.ph

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

The World

New US envoy to UAE stresses de-escalation in Persian Gulf

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BU DHABI, United Arab Em i r ates —Wa sh i ngton’s new ambassador to the United Arab Emirates says the US is working closely with its regional allies to deescalate tensions in the Persian Gulf after a spate of attacks on energ y targets blamed on Iran.

A mba ssador John R a kolt a told T he A ssociated Press: “ We’re ver y concer ned about it and we’re work ing ver y c losely w ith the UA E to tr y to conv ince Ira n t hat t he on ly solut ion is

a pol it ica l solut ion. T here is no pl ace for v iolence in t he world tod ay.”

He spoke on Monday on the sidelines of Adipec, an Abu Dhabi energy exhibition.

R akolta says Emirati leaders “understand there are tactical issues t hat we may d isag ree on” but have also made clear “they’re 100 percent in support of the ma ximum pressure campaign” of economic sanctions the Tr ump administration is employing against Iran. AP

Former US President Carter enters hospital for surgery

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TLANTA—Former US President Jimmy Carter was admitted to a hospital on Monday evening for a surgery to relieve pressure on his brain, caused by bleeding due to his recent falls, his spokesman said.

The procedure is scheduled for Tuesday morning at Emory University Hospital, Deanna Congileo said in a statement.

Carter has fallen at least three times this year, and the first incident in the spring required hip replacement surgery. He traveled to Nashville, Tennessee, and helped build a Habitat for Humanity home after getting 14 stiches following a fall on October 6. And he was briefly hospitalized after fracturing his pelvis on October 21. He received a dire cancer diagnosis in 2015, but survived and has since said he is cancer-free.

Nearly four decades after he left office and despite a body that’s failing after 95 years, the nation’s oldest-ever ex-president still teaches Sunday school roughly twice a month at Maranatha Baptist Church in his tiny hometown of Plains in southwest Georgia. His message is unfailingly about Jesus, not himself.

Rev. Tony Lowden, Carter’s pastor, said the ex-president was hospitalized Monday on what he called “a rough day.”

“We just need the whole country to be in prayer for him,” Lowden said in a telephone interview.

The church has announced that Carter will not be teaching his Sunday school class this week.

Carter is resting comfortably, and his wife, Rosalynn, is with him, Congileo said. AP

One of America’s biggest solar panel firms quits manufacturing

S

UNPOWER CORP., one of America’s largest solar-panel makers, is giving up its manufacturing business to focus on installing rooftop solar systems.

The company is spinning off its panel production operations into a new company, Maxeon Solar, that will be based in Singapore with factories in France, Malaysia, Mexico and the Philippines, according to a statement on Monday. As part of the deal, a Chinese supplier of silicon wafers will make a $298-million equity investment, valuing Maxeon at $1.03 billion.

SunPower described the move as a natural evolution of the maturing solar business. Panel makers once had to help create their own market by installing the equipment they manufactured. Now the market is big enough for companies to specialize in one or the other. First Solar Inc., the largest US panel maker, walked away in September from the business of building solar farms to focus on manufacturing. SunPower is moving in the opposite direction.

“As the industry gets bigger, you get companies that specialize,” SunPower Chief Executive Officer Tom Werner said in an interview. “It’s part of the mainstreaming of solar.”

The spin-off means the US is losing a major panel maker just as President Donald J. Trump tries to preserve solar manufacturing jobs at home. The Trump administration imposed tariffs on solar equipment imports last year in an effort to provide domestic manufacturers with a level playing field. SunPower had won an exemption to the duties for the panels it made overseas because of the premium, high-efficiency nature of its products.

Werner will continue to run SunPower, based in San Jose, and hold onto a small panel factory in Oregon.

Jeff Waters, who leads SunPower’s technologies business unit, will become CEO of Maxeon, after the tax-free spin-off is complete in the second quarter.

SunPower panels are known for being the most efficient in the industry, able to convert more of the energy in sunlight into electricity. That can give its panels an advantage for space - constrained installations like rooftops, though they can also be more expensive than rivals’ products.

Chinese stake

TIANJIN Zhonghuan Semiconductor Co. will own almost 29 percent of Maxeon after its equity investment, and existing SunPower shareholders will own the rest. SunPower is majority-owned by the French oil giant Total SA. Shares rose 1.2 percent to close at $8.47 in New York on Monday.

In the early days of renewable energy, SunPower and First Solar both built and sold some of the biggest US solar farms.

That strategy was born in part by a need for the panel producers to create markets for their products, according to Pavel Molchanov, an analyst with Raymond James and Associates.

R e n e wa b l e s h ave b e c o m e m o re common since then, and the price for solar panels has plunged. Companies are now choosing to specialize in an effort to find an edge over their rivals. “The one-stop shop of 10 years ago is largely in the rear-view mirror,” Molchanov said.

First Solar sees that edge in manufacturing. It rolled out its flagship Series 6 product and just started production at a new $1 billion factory in Ohio. In September, the company said it would move away from building power plants.

SunPower said it will focus on installing residential and commercial rooftop solar projects. It’s already one of the biggest suppliers, competing against Sunrun Inc., Vivint Solar Inc. and Tesla Inc.’s energy unit.

That market is expected to grow after a California law that requires solar panels on most new houses takes effect in January, and Werner said he has deals to supply 18 major home builders. Bloomberg News

BusinessMirror

Wednesday, November 13, 2019

B5

Trump seen delaying tariffs on imported European cars

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HE Trump administration may punt a decision on whether to slap tariffs on European automobiles as efforts of German automakers to highlight their new investments have helped in the talks, people familiar with the White House deliberations said.

In May, President Donald J. Trump gave himself a deadline of mid-November to decide whether to impose levies on cars and auto parts from the European Union. The EU threatened to retaliate with tariffs on $39 billion of American goods if the president carried out his threat.

Trump is expected to extend this week ’s deadline again, according to people familiar with the plans, but the president has

not yet made a final decision.

The White House declined to comment on Monday.

Bearing fruit

COMMERCE Secretary Wilbur Ross, in a n inter v iew w it h Bloomberg T V ea rl ier t h is mont h, sig na led t hat a post ponement was l i kely.

“Our hope is that the negotiat ions we’ve been hav ing w it h

i nd iv idu a l comp a n ie s a b out t heir capita l investment plans w i l l bea r enough f r u it t hat it may not be necessa r y to put t he 232 f u l ly into ef fect, may not even be necessa r y to put it pa r t ly in ef fect,” sa id Ross, referr ing to the nationa l-secur it y invest igat ion u nder Sect ion 232 of a 1962 t rade l aw.

Tr u m p w o n’t i m p o s e t h e tariffs, European Commission President Jean-Claude Juncker told Ger man newspaper Suddeutsche Zeitung l ast week.

A 25-percent US lev y on foreign cars would add €10,000 ($11,000) to the sticker price of EU vehicles imported into the countr y, according to the Brussels-based European Commission, the bloc’s executive arm.

Last year, Trump infuriated European leaders by declaring American imports of steel and aluminum a security threat and imposing levies of 25 percent

and 10 percent, respectively, on shipments from around the world, including the EU. That prompted the bloc to retaliate with tariffs on American goods, such as Harley-Davidson Inc. motorcycles, Levi Strauss and Co. jeans and bourbon whiskey.

US tariffs on European cars and auto parts would mark a significant escalation of transatlantic tensions because the value of EU automotive exports to the American market is about 10 times greater than that of the bloc’s steel and aluminum exports combined. As a result, Eu rop e a n ret a l i ator y dut ies would target a bigger amount of US exports to Europe.

The Trump administration has reached separate agreements with other foreign auto-producing nations, like Mexico, Canada and Japan, to prevent the US from imposing tariffs on their imported vehicles. Bloomberg News

Police, protesters face off in renewed clashes in HK

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ONG KONG—The police and protesters battled outside university campuses on Tuesday and several thousand demonstrators blocked roads as they took over a central business district at lunchtime in another day of protest in Hong Kong.

Protesters blockaded streets with bricks and disrupted train service during the morning rush hour. Commuter train passengers were escorted along the tracks and subways were shut amid transit disruptions.

Protesters and police using tear gas faced off in and around universities, where classes were cancelled in morning clashes.

A few thousand protesters took over several blocks in the central business district at lunch time, facing off briefly with a police contingent that threatened to use tear gas, but then retreated out of sight.

The demonstrators chanted “Five demands, not one less” holding up one hand with five outstretched fingers.

Traffic was blocked on two major roads by the crowds, with half a dozen of Hong Kong’s famous trams lined up unable to move. The words “Join Us” were spray painted on the front window of a stopped double-decker bus abandoned by the driver and passengers and one of its windows was broken.

Office workers filled the sidewalks and overhead walkways to watch the action, with some joining the protesters in chanting.

One 24-year-old, who would not give his name, said he was there to support the protesters and accused the police of using excessive force, a common complaint among the city’s 7.4 million people.

Recent weeks have been marked by escalating vandalism against shops and train stations and assaults by both protesters and pro-Beijing supporters on the other side.

Hong Kong leader Carrie Lam, speaking to news media after a weekly meeting with advisers, called the blocking of the morning commute “a very selfish act.”

“People from different sectors in society are holding fast to their positions and refusing to concede to violence or other radical actions,” she said. “I hereby express my gratitude to those who are still going to work and school today.”

Mond ay was an especia l ly violent day in Hong Kong’s five

COMMUTERS walk on the railway after their train service is disrupted by pro-democracy protesters in Hong Kong on Tuesday, Protesters disrupted the morning commute in Hong Kong after an especially violent day in the Chinese city that has been wracked by anti-government protests for more than five months. AP PHOTO

months of anti-government demonstrations. A police officer drew his gun during a struggle with protesters, shooting one in the abdomen. In another neighborhood, a man was set on fire after an apparent argument.

Both remained hospitalized on Tuesday, the shot protester in serious condition and the man who was burned in critical condition, the Hospital Authority said.

Video of anot her incident showed a policeman on a motorcycle riding through a group of protesters in an apparent attempt to disperse them.

Police say those events are being investigated, but defended the officers’ actions as necessary for their own safety.

Lam pledged on Monday to stop the violent protests in comments suggesting harsher legal and police measures could be coming.

“I do not want to go into details, but I just want to make it very clear that we will spare no effort in finding ways and means that could end the violence in Hong Kong as soon as possible,” she said.

Lam refused to accept the demands for political concessions. “ These rioters’ actions have far

exceeded their demands, and they are enemies of the people,” she said.

One of their five demands is for the government to stop labeling the demonstrators as rioters, which connotes that even peaceful protest is a criminal activity.

Their other unmet demands are for democratic changes in Hong Kong’s government, criminal cases to be dropped against protesters and for police actions against the protesters to be independently investigated.

In Washington, the US government said it is watching the situation with “grave concern.”

“We condemn violence on all sides, extend our sympathies to victims of violence regardless of their political inclinations, and call for all parties—police a nd prote stor s — to e x e rc i s e restraint,” State Depar tment Spokesm a n Morga n O r t ag u s said in a statement.

She urged the government to address the underlying concerns behind the protests and the protesters to respond to efforts at dialogue.

Police said they arrested more than 260 people on Monday,

raising to 3,560 the number of arrests since the movement erupted in June. The Hospital Authority said 128 people were taken to hospitals, with one in critical condition and five others in serious condition on Tuesday.

The protests initially began over a proposed law that would have allowed criminal suspects to be extradited to mainland China, where they could face opaque and politically sensitive trials. Activists saw the bill as another sign of an erosion in Hong Kong’s autonomy and civic freedoms, which China promised would be maintained for 50 years under a “one nation, two systems” principle when the former British colony returned to Chinese control in 1997.

Lam eventually withdrew the extradition bill, but has insisted the violence stop before any further political dialogue can take place.

District council elections on November 24 are seen as a measure of public sentiment toward Hong Kong’s government. Pro-democracy lawmakers have accused the government of trying to provoke violence to justify canceling or postponing the vote. AP

B6 Wednesday, November 13, 2019

Cooking gata dishes made easy with Coco Mama Fresh Gata

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OCO Mama proudly introduces the new Coco Mama Fresh Gata, the solution to all your gata needs!

Proudly made in the Philippines using the country’s finest coconuts, every pack of Coco Mama Fresh Gata contains coconut cream made from freshly pressed coconuts. These coconuts are grated, pressed, and packed

on the same day, ensuring you only get that “sarap ng unang piga” in every pack! It is deliciously creamy, appetizingly “puting-puti” and “nagmamantika” when cooked, telling of how truly fresh it is. It’s conveniently packed in a pouch which you simply need to shake, tear and pour onto your dishes. No more “kayod,” no more “piga-piga,” only fresh gata!

Judy Ann Santos-Agoncillo with Century Pacific Food Inc. Emerging Business Team and PC&V Communications, Inc.

Award-winning actress, loving mother and wife, and now restaurateur who loves cooking gata dishes, Judy Ann SantosAgoncillo was also announced as The Coco Mama, the fun new product’s brand ambassador.

Use Coco Mama Fresh Gata for ginataang sitaw at kalabasa, chicken curry, gising-gising, adobo sa gata, and your other favorite gata dishes. You can also use it to make your beloved desserts and kakanin like ginataang bilo-bilo, biko, maja blanca and ginataang mais. The possibilities are endless with Coco Mama Fresh Gata. Now, storing gata is also a problem of the past, as every pack of Coco Mama Fresh Gata lasts longer than your usual “kinayod na gata”. Just store it in your pantry and enjoy gata anytime!

Coco Mama Fresh Gata comes in two sizes – 200ml, which is equivalent to one coconut, and 400ml, which is equivalent to two coconuts. It is now available in supermarkets nationwide.

AirAsia enhances mobile app with new and innovative features

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IRASIA has announced all-new enhancements to its mobile app for Android and iOS, including innovative new features to enhance guest experience.

Using a guest-centric approach to support the acceleration of the company’s vision to be more than just an airline, the mobile app has been redesigned for quicker performance and improved usability to offer guests a more seamless, personalized experience.

In addition to optimizing existing features, several new features have been introduced.

New booking flow and interactive search map. Leveraging native device capability and mobile optimized design, users now benefit from improved performance, usability and faster transaction times thanks to a new booking flow and interactive search map.

Seamless access to boarding pass via Apple e-wallet.

Added flexibility of saving your mobile boarding pass to Apple e-wallet, allowing travellers without luggage to head straight to the boarding gate once they’ve cleared immigration.

“AirAsia has been investing in cutting edge technology and customer experience talent to enhance our digital capabilities. The redesign of our mobile app also complements the many other

digital initiatives we are working on, such as the transformation of airasia.com into Asean’s leading travel and lifestyle platform, and rollout of our Fast Airport Clearance Experience System (FACES) facial recognition system.

“We believe these new people-centric features will make planning and booking a trip easier and more enjoyable for our guests. We will continue to invest in initiatives that deliver a more personalised touch and we look forward to observing how our guests interact with us and fellow travelers,” AirAsia Group Chief Commercial Officer Karen Chan said.

The newly-enhanced mobile app is available for download from the Apple App Store and Google Play today.

Edwin Andrews Air Base Hospital gets a make-over from SM Foundation

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HE Edwin Andrews Air Base Hospital is now up for a Level 1 accreditation from the Department of Health after a complete renovation and refurbishment from the SM Foundation. Through the program, SMFI improved the hospital’s Pharmacy, OR/DR Complex, Emergency Room, Laboratory, Rehabilitation Section, X-ray Room, Out-Patient Department, Military Ward, Dependents Ward, and Isolation Room. In addition, SM Foundation was also able to establish a waiting lounge, breastfeeding room, and a Mobile Read and Play Station for children.

Moreover, furniture, appliances & medical equipment have been provided for or upgraded.

The Mobile Read and Play Station is an innovation under the health and wellness program of SMFI to provide therapeutic value for ill children, thus contributing to both their physical and emotional well-being resulting to a speedy recovery. In addition, the facility intends to help in investigating issues related to the child’s experiences in the hospital and reduce the intensity of negative feelings accompanying a child’s admission to hospital and hospitalization.

The 29-bed capacity hospital had operated as an

infirmary catering to the health needs of around 3,900 uniformed personnel and their dependents, including authorized civilians within its area of responsibility. The hospital also provides medical care and aero medical services to its stakeholders in Zamboanga, Basilan, and Tawi-Tawi.

The medical facility was first established in 1950 under the operational control of Sulu Air Task Group stationed in Baliwasan Moret during the height of a military offensive against the outlaw group of Hadji Kamlon. In 1955, the dispensary was transferred to Santa Maria District and was renamed Edwin Andrews Air Base with the construction of a new medical wing. In 1961, it was upgraded into a Medical Dispensary to cater to the growing PAF personnel in the area. Now it is home to the Tactical Operation Command with 5 Tactical Operations Group, 3 Tactical Operations Squadron and 4 tenants.

In simple ceremonies, Connie Angeles, SVP & Executive Director for Health & Medical Programs of SM Foundation officially turned over the facility to Lt. Gen. Rozzano D. Briguez, AFP, Commanding General of the Philippine Air Force which coincided with the 11th Founding Anniversary of the Tactical Operations Command. Angeles in conveying the message of the family of the late Chairman of the Board of SMFI, Henry Sy Sr. said: “we dedicate the improvement of the hospital to you our beloved soldiers who risk your lives to make us live freely and peacefully.” In accepting the donation, Briguez said: “we assure the Sy family that in return, we assure them of our dedicated service our country.”

Camp Edwin Andrews Airbase Hospital is SM Foundation’s 34th improved military health facility & the 157th wellness center.

“Philip Morris pushes "Unsmoke” advocacy. WITH WORLD HEALTH ORGANIZATION’S estimate that there will still be more than one billion smokers worldwide in 2030, Philip Morris International is taking the challenge to “Unsmoke” the world. PMFTC Inc.’s President Denis Gorkun, the local affiliate of Philip Morris International, shares his company’s “Unsmoke” advocacy to over 800 participants of the recently held “SOFTCON.ph 7: The Philippine Software Industry Conference” at SMX Convention Center in Pasay City. “Unsmoke” aims to raise awareness on opportunities for smokers who would otherwise continue smoking to switch to science-backed, smoke-free alternatives. Its message: If you don’t smoke, don’t start. If you smoke, quit. If you don’t quit, change.

Security Bank, St. Luke’s Medical Center Foundation stage fundraising concert

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ECURITY Bank and St. Luke’s Medical Center Foundation, Inc. held a fundraising concert together with the Orchestra of the Filipino Youth (OFY). OFY is the main performing arm of Ang Misyon, a nonprofit organization working towards creating a better Philippines by teaching orchestral music to the youth. This 50-piece ensemble of gifted young musicians comes from mostly less-privileged

families across Luzon and Visayas.

Guests were treated to an evening filled with a repertoire of classical and pop music led by OFY and their renowned Venezuelan conductor Joshua Dos Santos as well as guest artist Cris Villonco. Entire proceeds from the show will benefit the indigent patients under the Medical Social Service Program and underserved communities around the country.

Sports

CURRY BACK IN ‘EARLY SPRING’

BusinessMirror

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| Wednesday, November 13, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

STEPHEN CURRY says he needs a second surgery on his non-shooting hand. AP

US drops to 0-2 in Olympic baseball qualifying round

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HE United States stumbled for the second time in Olympic baseball qualifying, losing to South Korea, 5-1, on Monday night in Tokyo.

The Americans dropped to 0-2 in the super round of the Premier12 tournament, which serves as Olympic qualifying.

The record includes an 8-2 group stage loss on November 3 against Mexico (2-0), which is carried over to the super round standings. The Mexicans opened the super round with a 2-0 win over Taiwan on Monday at Chiba City.

The US, managed by Scott Brosius, plays Japan on Tuesday, Australia on Wednesday and Taiwan on Friday.

Kim Jae-hwan hit a three-run homer in the first inning off loser Cody Ponce, a right-hander acquired by Pittsburgh in July for Jordan Lyles.

Minnesota’s Brent Rooker homered in the sixth against starter Yang Hyeon-jong, who got the win. The South Koreans widened their lead in the seventh on consecutive RBI doubles by Kim Ha-seong off Seattle’s Wyatt Mills and Lee Jung-hoo against Atlanta’s Caleb Thielbar.

The US loaded the bases with one out in the first, but Tampa Bay’s Jake Cronenworth and Rooker struck out.

After the super round, which also includes Japan and Australia, the first- and second-place teams advance to the gold-medal game and the third- and fourth-place teams play for the bronze. The top finisher from the Americas, the US or Mexico, qualifies for the Tokyo Olympics next year.

The second-place finisher from the Americas goes to a final qualifying tournament in March or April.

In Sydney, Australia’s public broadcaster has decided for the first time in almost 70 years not to buy radio rights to an Olympic Games.

The Australian Broadcasting Corp. cited budgetary constraints and changes in the way audiences access content in announcing Monday that it would not broadcast live radio coverage from next year’s Tokyo Olympics.

“This is an incredibly tough decision, especially given our 67-year run as the official non-commercial Olympic Games radio broadcaster,” an ABC spokesman told the Australian Associated Press. “Due to competing budget priorities coupled with the fact that Australians can access Olympic Games coverage in many other ways, we have chosen not to pursue rights in 2020.”

The Australian Olympic Committee was among the strongest critics of the decision, saying it would lobby ABC Chairman Ita Buttrose to overturn it.

“The AOC is prepared to put this case to the chair of the ABC directly, on behalf of the 8 million Australians who participate in Olympic sports,” the national Olympic committee said. “The AOC believes the decision is monumentally short-sighted and a great let-down to Australians who rely on their national broadcaster—from the smallest of communities to our suburbs.”

The ABC first broadcast live radio coverage of an Olympics from Helsinki in 1952. Australia has twice hosted the Summer Games, in 1956 in Melbourne and at Sydney in 2000. AP

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By Joe Stiglich

The Associated Press

AN FRANCISCO—Golden State Warriors star Stephen Curry “definitely” plans to return this season from his broken left hand and is hoping to be back on the court at “some point in early spring.”

When exactly the two-time National Basketball Association (NBA) Most Valuable Player will be able to play again remains uncertain.

Curry addressed the media Monday night for the first time since getting injured October 30 and said he needs a second surgery on his non-shooting hand, probably in early December, to remove pins that were inserted during the first procedure November 1 that involved his hand and index finger. “[Managing the] swelling is something that’s going to be of the utmost priority early in the rehab process,” Curry said, “to get me a chance to come back and get my range of motion back pretty quickly.”

The Warriors initially said Curry would be re-evaluated three months after the surgery, which would be early February.

Curry referred to himself and injured teammate Klay Thompson as “caged animals right now, wanting to be unleashed.”

Thompson, the other part of Golden State’s Splash Brothers combo, is recovering from surgery to repair a torn anterior cruciate ligament in his left knee. The team hopes he can return in the second half of the season.

Curry said he experienced some minor nerve irritation shortly after he underwent his first hand surgery, a common byproduct of the procedure. That’s one thing doctors will continue to

monitor throughout his rehab process, and it will impact when he can return.

For now, Curry is working out his lower body and doing whatever training is permitted by the team’s medical staff, saying he’s using this threemonth period without basketball as a “mini off-season” to fine-tune his body.

The Warriors’ longest-tenured player had praise for his teammates, who took the court Monday night against Utah with a 2-8 record that was tied with the New York Knicks and New Orleans Pelicans for the worst in the NBA. Curry described rookie Eric Paschall’s energy as contagious and said the play of new guard D’Angelo Russell has been “unreal.” Asked what the benefits would be for he and Thompson to return to the court this season if it was only for the final few weeks, Curry had an answer.

“Just to understand the chemistry with the young guys,” he said.

“We can play around with rotations and just get a vibe of what the following season, when we’re all healthy, looks like.”

HARDEN’S 39 PROPELS ROCKETS

AS usual, scoring comes in concentrated bursts for James Harden.

Harden scored 19 of his 39 points in the fourth quarter and the Houston Rockets beat the short-handed New Orleans Pelicans, 122-116, on Monday night.

The NBA’s leading scorer has averaged 40.6 points in his last eight games, but missed nine of his first 10 three-point shots. Still, with Houston leading by four midway through the fourth quarter, Harden lit his personal fuse and scored 13 consecutive points in a 1:57 span to push the advantage to 110-93.

“I wasn’t really getting to the rim,” Harden said. “The first three quarters I was settling and kind of just being passive. So, I just wanted to be more aggressive, whether it was shooting my shot or getting to the basket.”

Russell Westbrook had 26 points and Clint Capela added 11 points and 20 rebounds to help the Rockets to their fourth straight win.

JJ Redick had 24 points, Josh Hart scored 19, and Jrue Holiday added 18 points, 11 assists and nine rebounds for New Orleans, which played without leading-scorer Brandon Ingram due to a sore right knee.

The Pelicans could not overcome 12 firsthalf turnovers—six by Holiday in the first half alone—and 29 percent shooting from three-point range in the fourth quarter.

“We’ve just got to start

HOUSTON’S James Harden goes to the basket against New Orleans’s Derrick Favors. AP

Greece Coach Pitino makes plans without Giannis

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THENS, Greece—Greece Coach Rick Pitino is planning on trying to qualify for the 2020 Olympics without Milwaukee Bucks forward Giannis Antetokounmpo.

Pitino officially took over as coach of the Greek national basketball team on Monday. He said he would leave a roster place open for Antetokounmpo in qualifying games but is not sure if he will be able to rely on his best player.

Greece will try to reach the Tokyo Olympics by winning a qualifying tournament. But the dates could clash with the National Basketball Association (NBA) schedule, probably ruling out Antetokounmpo.

“It is a possibility he will not be playing with us in the

valuing the basketball and we’ve got to stop making the bad turnover,” Pelicans Coach Alvin Gentry said. “You shoot 45 threes—you’ve got to make more than 14 of them.”

The Rockets led 95-82 early in the fourth quarter on Westbrook’s dunk, but the Pelicans pulled to 97-93 on a four-point play by Redick. Harden then took control with his scoring burst.

“It’s go time,” Harden said. “The fourth quarter is winning time, so you’ve got to be more aggressive and make plays whenever they come to you, whether it’s my shot or getting to the basket, shooting my floater or making the right play.”

He started the run by splitting defenders for driving lay-ups on consecutive possessions and then made back-to-back 3-pointers, including one for a four-point play. By the time Harden made two free throws to end the run, Houston led by 17 with 5:20 left.

“It’s what he does,” Houston coach Mike D’Antoni said. “It shouldn’t have been [just a four-point lead]. We have to close games out. We have to play better. We have to play smart, and tonight I didn’t think we did. Good enough to win? OK, but that’s not what we want to be.”

The Rockets committed 17 turnovers and shot just 29.3 percent from the perimeter (12 of 41).

Harden and Westbrook missed 14 of their first 16 attempts on 3-pointers, and finished a combined 4 for 19 from long range. But they did enough with midrange jumpers and lay-ups.

The Rockets built a 42-31 lead midway through the second quarter, but the Pelicans used an 18-9 run, with eight points coming from Hart, to trim the deficit to 51-49. Despite shooting just 4 for 19 from three-point range, Houston led 58-52 at the half.

Harden struggled early from long range, missing his first four shots. The Pelicans stayed within striking distance on the strength of Redick’s three-point shooting (4 of 6) for 12 firsthalf points.

Harden’s first three of the game put Houston up 68-57, but New Orleans went on a 17-7 spurt, with seven points by E’Twaun Moore, to cut it to 75-74. The Rockets closed the quarter by outscoring the Pelicans 15-8 to lead 90-82 after three.

qualifying round if he goes far [in the playoffs]. I understood that coming into this situation, and that’s why it’s such a high mountain to climb,” Pitino said. “But Giannis is something, it’s a bridge we have to cross later on. But we are going to leave a roster spot even if he has to take my place.”

Pitino said he hoped to meet Antetokounmpo and his brother, Milwaukee teammate Thanasis Antetokounmpo, in March when the Bucks travel to Miami.

The 67-year-old Pitino is a veteran of the college game and the NBA, coaching the Boston Celtics and the New York Knicks as well as Kentucky and Louisville.

He has returned to Greece after coaching Athens club Panathinaikos last season and remains popular.

Pitino said he also felt that attachment. “[Coaching Greece] is the crown jewel for me as a basketball coach,” Pitino said. “This is one of the greatest honors I’ve had as a coach. I consider this so special because it’s a mountain that is so worth climbing.

“And for the next eight months. I’m not American.

I’m not Italian. I’m Greek. And that’s the way I’m going to carry myself. You won’t see anybody who will bleed every possession like I will bleed to try and win a game.” AP RICK PITINO is not sure if he will be able to rely on his best player. AP

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Wednesday, November 13, 2019

NORTH VS. SOUTH ON AT STA. ELENA T

HE country’s top guns mix it up one last time in this year’s Philippine Golf Tour but in team play format as the Duel-North vs South VI unwraps on Wednesday with the four-ball at Santa Elena Golf Club in Laguna.

Man for man, the South squad appears to have the edge with Tony Lascuña, Reymon Jaraula and Jhonnel Ababa, who swept the last four legs of the milestone 10th season of the country’s premier circuit, spearheading the charge of the side that has won three of the first five editions of the event serving as highlight of each PGT season put up by the International Container Terminal Services Inc. But the Northerners have put emphasis on

cohesion rather than individual skills, frustrating their fancied rivals the last time out at John Hay that saw them dominate the foursomes and four-ball formats to seize control before holding sway in the singles to pull off a three-point win and cut South’s series lead to 2-3.

North Coach Cookie La’O and South counterpart Charles Hong have both expressed confidence in the run-up to the three-day event with each side hoping to draw the best from their combinations in the opening four-ball (best-ball) featuring six matches.

La’O is putting up the Keanu Jahns-Gerald Rosales pair against the multititled Jay Bayron and Albin Engino, while Ira Alido teams up with Mars Pucay as they go up against Elmer Salvador

and Jaraula of the South squad.

North’s Justin Quiban and new member Eric Gallardo clash with South’s Zanieboy Gialon and Jerson Balasabas with Lascuña and Nilo Salahog testing the mettle of Michael Bibat and Jun Bernis.

Rufino Bayron hopes to cash in on good form following a pro-am victory Monday as he and fellow Davaoeño Ababa tangle with North’s Ryan Lam and Fidel Concepcion then Jobim Carlos and Joenard Rates of North cap the day’s duel with Arnold Villacencio and Rene Menor of South.

Hostilities start at 7:30 a.m. with play shifting to foursomes (alternate shot) on Thursday. The deciding singles, featuring 12 matches, will be played Friday with the cast all

ready to showcase their skills in individual play.

Team South actually trailed in the first two days in the fourth Duel at Wack Wack in 2015 but dominated the singles and won all but three matches to beat North, 12 1/2-11 1/2, and complete a back-to-back feat.

But the Northerners toughened up in the 2017 edition, also wresting control in the foursomes and four-ball before splitting the singles matches to prevail.

The top players in the OOM rankings each season make up the two teams with pro-am winner Rufino Bayron serving as Hong’s assistant in the South side and Miko Alejandro assisting La’O in the country’s version of the Ryder Cup.

Kickboxers temper expectations

T SAMAHANG Kickboxing ng Pilipinas Secretary-General Atty. Wharton Chan (third from left) poses with (from left) national athletes Jerry Olsim and Rex de Lara, Coach Glenn Mondol and athletes Karol Maguide and Ruel Catalan. ROY DOMINGO

HE kickboxing team is tempering expectations when it makes its Southeast Asian Games debut in the 30th edition of the biennial event the country is hosting.

Samahang Kickboxing ng Pilipinas SecretaryGeneral Atty. Wharton Chan would not commit the number of gold medals the eight-man Filipino squad is capable of winning in the competition slated from December 6 to 10 at the Cuneta Astrodome in Pasay City.

But he believes everyone on the team is competent for a medal.

“As much as we want to be confident, we also want to be modest. Our assessment for the SEA

Games is that everyone would be a medalist,” Chan told before the Philippine Sportswriters Association (PSA) Forum on Tuesday at the Amelie Hotel-Manila.

“We hope and pray each and every athlete would be successful in their respective categories. We are also focused on promoting the sport as well as giving these athletes the break [they need],” he added.

Chan was accompanied by three of the participating athletes and two of the team’s coaches in the weekly forum presented by San Miguel Corp., Braska Restaurant, Amelie Hotel and the Philippine Amusement and Gaming Corp.

Among the members of the team present in the

NORTH Coach Cookie La’O (left) and South Mentor Charles Hong (right) hold the huge trophy with Luigi Tabuena, event manager of the Philippine Golf Tour, ahead of The Duel-North vs South at Santa Elena.

session were Ruel Catalan (57 kg), Karol Maguide (51 kg), Jerry Olsim (69 kg), and Rex De Lara (60 kg) along with boxing coach Glenn Mondol.

Completing the squad that will compete in full contact, low kick, and kick light are Jomar Balaguid (54 kg), Jean Claude Saclag (63 kg), and the women duo of Renz Daquel (48 kg) and Gina Iniong (55 kg).

The team trained under the supervision of two-time Olympian Donald Geisler and Mark Sangyao of the celebrated Team Lakay.

Expected to give the Filipinos a run for the gold are regional power Thailand, Indonesia, Malaysia, Lao PDR, and Vietnam.

The national team set up its training camp in the high mountains of La Trinidad, Benguet, and had their foreign exposures in Taiwan and Cambodia, where it just recently arrived.

RONDINA

Beach volleyball teams set modest SEA Games goal

L TEAM PHL GRAND SEND-OFF TODAY AT NINOY STADIUM

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ILIPINO sports heroes led by Olympic boxing medalists Mansueto “Onyok’’ Velasco Jr. and Leopoldo Serrantes will motivate athletes bound for the 30th Southeast Asian Games in the “Team Philippines Send-off Ng Bayan” on Wednesday at the Ninoy Aquino Stadium in Manila.

Bowling Hall of Famers Paeng Nepomuceno and Bong Coo. and Asia’s first chess grandmaster Eugene Torre will also provide inspiration for the national squad to perform at their best during the Games set from November 30 to December 11.

Track and field icons Lydia de Vega and Elma Muros-Posadas will also share their stories of triumph to the 1,115 Filipino athletes competing in 56 sports, all of them aiming to collectively regain the overall title for the country.

“Our athletes are the heart and soul of the country’s campaign in the Olympics,’’ said Team Philippines Chef de Mission and Philippine Sports Commission Chairman William Ramirez.

Besides Ramirez, Philippine Olympic Committee President Abraham Tolentino and House Speaker and Philippine Southeast Asian Games Organizing Committee Chairman Alan Peter Cayetano will rally the athletes, including Filipino paralympic athletes, to

accomplish the feat.

Sen. Bong Go, chairman of the Senate Committee on Sports, was also invited along with Manila City Mayor Francisco Moreno Domagoso.

“With the all-out support of the government, I’m positive that our athletes will deliver,’’ said Ramirez, who also led Team Philippines as CDM to its first-ever overall title during the 2005 Manila SEAG. Bamboo, known as the Prince of Philippine Rock, will be the main act during the entertainment segment of the sendoff ceremony where “Pilipinas,” the theme song of Team Philippines will also be unveiled.

“Pilipinas” will be played live by Johnny Cross and his band before local bands The Juans and Silent Sanctuary will entertain the athletes, coaches and officials.

Majority of the golds for Team Philippines is expected to come from combat sports, such as taekwondo, boxing, karatedo, judo, jiu-jitsu, kickboxing, arnis, wushu, wrestling and muay.

Athletics, aquatics, billiards, chess, dancesport, triathlon, traditional boat race, weightlifting, golf and team sports basketball, softball, baseball, ice hockey and rugby sevens are also the source of golds for the country.

Filipino boxers go all out for gold medals

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HE road to glory may not be easy, but the Association of Boxing Alliances in the Philippines (Abap) is upbeat of its chances in the 30th Southeast Asian Games.

Abap Secretary-General Ed Picson admitted that other countries have already beefed up their rosters in a bid to beat them in the boxing competition of the prestigious biennial meet set at the Philippine International Convention Center (PICC) in Pasay City, starting December 3.

The boxing executive said he is not making any medal prediction, but came up with an assurance that they will do everything to make the country proud.

“I don’t do medal projections as there are too many variables that we have to consider. But I can say that our boxers are in excellent shape,” said Picson, adding that officiating, conditioning and the draw could all be major factors in their golden bid.

“But it’s going to be tough. It’s no longer just Thailand that will come up with a good fight. We have information that other countries are also coming in strong as they are now using foreign exposure and coaches while upgrading their technology to boost their chances.”

Boxing has been a consistent medal winner for Team Philippines.

WELTERWEIGHT Eumir Felix Marcial leads Team Philippines’s campaign in boxing.

IKE the rest of the Filipino athletes in the 30th Southeast Asian Games, members of the beach volleyball team are counting on home-court advantage as they vie for the gold medal.

The Philippines last won a medal in women’s beach volley in the 2005 Manila SEA Games—a bronze courtesy of the lovely pair of Heidi Ilustre and Diane Pascua.

This year, the women’s team, composed of Sisi Rondina and Bernadeth Pons, and Dzi Gervacio and Floremel Rodriguez, is hoping to land in the podium.

The men’s team of Edmar Bonono and Jude Garcia, and Anthony Arbasto and James Buytrago is also hoping for the best.

“With all the support we received, our teams are hoping to get far in this SEA Games,” Team Manager Cha Soriano told Tuesday’s Philippine Sportswriters Association (PSA) Forum at the Amelie Hotel in Manila.

She cited the Philippine Sports Commission and Rebisco as their biggest supporters.

Larong Volleyball sa Pilipinas Inc. (LVPI) Training Director Peter Cayco also appeared in the forum presented by San Miguel Corp., Braska Restaurant, Amelie Hotel and the Philippine Amusement and Gaming Corp., along with coaches Paul John Doloiras and Jason Gabales, and physical therapists Faye Acordon and Carl Dimaculangan.

Cayco said that as host, the Philippines is allowed to field two pairs in each division.

Beach volleyball offers two gold medals this year, and will be staged from November 29 to December 6 in Subic. Prior to that, the LVPI will stage the Rebisco International beach volley competition on from November 15 to 17 at Mall of Asia’s Sands by the Bay. “We want our players to be in Subic early. We want our players to familiarize themselves with the viscosity [thickness and consistency] of the sand in the actual venue.

That should give us the home court advantage,” Cayco said.

Vying in the final tune-up tournament for the SEA Games are New Zealand, Hong Kong, Palau and Thailand, the SEA Games favorite.

“It will boil down to our commitment and mindset.

But we worked very hard in training,” said Rondina, the energetic indoor volley star who has agreed to suit up for the beach volley team in this SEA Games.

In the 28th edition of the Games in Singapore in 2015, the Filipino punchers emerged as the most victorious with flyweight Ian Clark Bautista, bantamweight Mario Fernandez, lightweight Junel Cantancio, welterweight Eumir Felix Marcial emerging victorious in the men’s side while light flyweight Josie Gabuco dominating the women’s category to underscore a successful campaign.

Unfortunately, only Marcial and light heavyweight John Tupas-Marvin delivered gold medals in the previous biennial meet in Kuala Lumpur, in 2017.

This time, with the Philippine Sports Commission (PSC) throwing its all-out support, the national boxers are tipped to come up with an impressive finish.

“Yes, the PSC’s support is always there,” said Picson, adding that the government sports agency has been bankrolling their program, including training camps and international tourneys. Heading the national contingent will be Marcial together with Carlo Paalam, Rogen Ladon, Charly Suarez, James Palicte, Marjon Piañar, Bautista and Tupas-Marvin.

Meanwhile, newly crowned world champion Nesthy Petecio will lead the women’s squad together with Gabuco, Irish Magno, Aira Villegas and Risa Pasuit.

“We might make one or two chances depending on what happens in the next two weeks,” Picson said.

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Wednesday, November 13, 2019

PHL basketball community mourns ‘Bong’ Tan’s demise

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ANY Filipinos know Lucio “Bong” Tan Jr. as the man who continues to lead the way for some of the companies of his father, Lucio Tan Sr., such as Philippine Airlines and Asia Brewery.

But those who know him more are aware that the younger Tan, like many Filipinos, is a basketball fanatic.

The moment Asia Brewery bought Tanduay Distillers from the Elizaldes, Bong Tan did not hesitate to revive its basketball program.

A known powerhouse in the defunct Manila Industrial and Commercial Athletic Association as Yco Painters and a former Philippine Basketball Association (PBA) champion, as well, the Tanduay franchise suddenly made its way back to organized basketball through the Stag Pale Pilsen squad in the defunct Philippine Basketball League, the de facto predecessor of the PBA D-League.

After a few years, he elevated Tanduay’s PBL team led by Eric Menk and Jomer Rubi back to the PBA, and the team quickly got into the finals in its comeback conference, the 1999 PBA AllFilipino Cup, only losing to Shell.

The Rhum Masters’ second stint in the PBA lasted only three years, and it took a little longer before they got back to club basketball play through the Cobra franchise in the D-League, which they would rename Boracay Rum before returning to their Tanduay roots.

The Tanduay club transferred to the Maharlika Pilipinas Basketball League (MPBL) and became the Batangas City Athletics.

He also helped Alab Pilipinas come to existence in the Asean Basketball League by bankrolling the team for the first half of its second season or the eighth ABL season.

In fact, Charlie Dy, one of the team’s coowners, told the Philippine News Agency on Monday night that the sponsorship was supposed to take place earlier.

“In [our] first season, we were supposed to be sponsored by Tanduay. It just didn’t work out,” Dy said.

Although their partnership was short-lived, Dy could not help but thank Tan for the opportunity.

“We are very thankful to them because they believed in our cause on having the team to entertain our OFW kababayans,” Dy said.

His love for the game greatly shows with all his contributions to the Philippine hoops scene.

“Basketball is really his passion,” Dy said.

Tan passed away on Monday, two days after he still joined an intercorporate basketball league game.

Tan collapsed while he was going to the bench in the second quarter of that game.

“It’s so unfortunate that at a young age of 52, he passed away,” Dy said.

Some other basketball entities also expressed their condolences for Tan’s passing.

“Thank you Mr. Lucio “Bong” Tan Jr. of Batangas City Tanduay Athletics. Know that you are in our prayers and will be forever remembered,” the MPBL said in a statement.

Tan was also the head coach of the University of the East’s (UE) men’s basketball team in the University Athletic Association of the Philippines season 82.

“The UE community expresses deep sorrow with the passing of Mr. Lucio “Bong” Khao Tan Jr., a member of the University’s Board of Trustees,” the UE said in a statement. PNA

PSC bring cheers to 600 children in Davao region

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LETRAN’S Edson “Bonbon” Batiller challenges the defense put up by San Beda’s Evan Nelle (3) and Donald Tankoua (10). ROY DOMINGO

KNIGHTS IN GAME 1

By Ryniel Berlanga

F

RAN YU delivered when it mattered most as Letran slipped pass San Beda University, 65-64, to take Game One of the best-of-three Finals—at the same time, handing the Red Lions their first loss of Season 95—in the National Collegiate Athletic Association seniors basketball tournament on Tuesday at the Mall of Asia Arena in Pasay City.

After Letran called for a timeout to draw a play off of a Donald Tankoua out

LUCIO “BONG” TAN JR.’S love for basketball is sky high.

of bounds error, Yu dished an alley-oop to Larry Muyang inside the paint that pulled them ahead, 65-62, with a minute and 25 seconds left in the game.

San Beda’s Evan Nelle, who has been hot beyond the arc, heaved a desperation trey in the next possession that fell short.

His teammate, Calvin Oftana, grabbed the rebound but lost the ball to the aggressive Yu. In the next play, Nelle sunk a clutch floater to make it 65-64 and Letran teetered after draining its shot clock in its next possession that allowed San Beda a time out to plan their last play.

Nelle inbounded the ball to Oftana, who

U

round eliminations, but the Maroons have yet to beat the Tigers this season.

In Game One, UST took off with an 11-0 run in the first quarter and protected a double-digit lead until the latter part of the fourth.

The Fighting Maroons tried to mount a comeback in the last three minutes, but the Tigers wouldn’t be denied as multiple players stepped up in the clutch.

Rookie of the Year Mark Nonoy led the counterattack in the final frame and finished with 16 points, four rebounds and four assists.

Most Valuable Player Soulemane Chabi Yo tallied 17 points, 15 boards and four steals, while Rhenz Abando added 17 points and seven rebounds for UST. UP Coach Bo Perasol admitted that UST outperformed them.

“There’s no way we can win against UST the way we played in most of the quarters. We need to be a lot better,” said Perasol, who banks on the production of Bright Akhuetie, Kobe Paras, Juan Gomez de Liano and Ricci Rivero.

“We cannot just be the recipient of their aggressiveness, we need to match them,” he added. “We have to understand that the reason we lost three times this season against UST is because they outhustled us.”

Ramon Rafael Bonilla

took a desperation trey in the last six seconds.

His attempt fell short and Yu got the clutch rebound off and was fouled in the process.

Yu missed the charities but King Caralipio secured the rebound to seal the game for Letran.

“I hope they won’t lose their momentum and never let the opportunity to escape,” Knights Coach Bonnie Tan said. “Luckily, their [San Beda] shots were not falling and we stuck to our game plan.”

Edson “Bonbon” Batiller led the Knights with 12 points and five rebounds, Jerrick Balanza had 10 points and four rebounds and Yu finished with 10 points, three rebounds, six assists and three steals.

Nelle paced the Red Lions with 20 points and seven rebounds, while James Kwekuteye had 11 points in a five-of-18 shooting that went with six rebounds and two steals.

Oftana added 11 points, six rebounds and two assists.

San Beda’s Cameroonian big man Tankoua was held to seven points, but hauled down 13 huge rebounds and three steals.

Game Two is set on Friday in the same venue.

A THE National University Bullpups remain favorites this season.

UAAP jr hoops unfurls at Paco Arena

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ATIONAL University (NU)-Nazareth School opens its title-retention bid against Far Eastern University (FEU)-Diliman on Wednesday in the University Athletic Association of the Philippines Season 82 boys’ basketball tournament at the Paco Arena in Manila.

The Bullpups and Baby Tamaraws clash in the third game of a heavy four-game bill at 1 p.m.

Ateneo hopes to open its post-Kai Sotto era on a high note against Adamson University at 1 p.m.

De La Salle-Zobel and University of the Philippines Integrated School collide in the 9 a.m. curtain-raiser, while Estong Ballesteros will

make his debut as the new University of the East coach against his alma mater University of Santo Tomas in the final game at 3 p.m.

NU is looking good this season with big boys Carl Tamayo and Kevin Quiambao leading the charge.

The Bullpups won the best-of-three title series over the Blue Eaglets, 2-0, earlier this year to annex their fourth crown in eight seasons. It also ended a two-year wait for NU to make it on top, with Terrence Fortea the lone member of the Bullpups team that won the 2016 championship.

All first round games, except on December 1 at the Blue Eagle Gym, will be at the Paco Arena.

LTHEA MARTIREZ dished out top form to emerge the lone “double” winner while John Kendrick Bona posted a win and a runner-up finish as they shared Most Valuable Player honors in the Palawan Pawnshop-Palawan Express Pera Padala (PPSPEPP) Gov. E. Contreras national age-group tennis tournament at the Villareal Stadium Tennis Courts in Roxas City last Monday.

Martirez kept her win run going following a romp in the recent Gov. Umali Cup in Oriental Mindoro, overwhelming Avril Suace twice, 6-2, 6-1, and 6-2, 6-0, as the Central Philippine University ace swept the girls’ singles 16- and 18-and-under crowns, respectively.

Bona also dominated top seed Derrick Guillano, 6-1, 6-1, to claim the boys’ 12-U title but the Puerto Princesa bet and a Mac’s Crankit-MCF Global protégé came up short against No. 1 Benedict Santiago, who pulled off a 6-4, 6-3 escape in the 14-U finals of the Group I tournament presented by Dunlop.

Sharing the spotlight in the weeklong event sponsored by Gov. Esteban Contreras and held as part of the country’s long-running age grouper put up by PPS-PEPP, headed

by President/CEO Bobby Castro, were Iloilo’s Francis de Juan, Joshua Raymundo from La Carlota; Nickel Nowlakha and Aleeva Suace, both from CPU, and Petrina Aguirre from the Philippine Science High School—Western

Defense, sporting arms show’s 27th edition unwraps

E ASSOCIATION of Firearms and Ammunition Dealers of the Philippines Inc. officers (from left) President Alaric Topacio, Vice President Edwin Año Jr., Treasurer Mary Jane Roxas and Imelda Reyes are ready for the arms show.

HE Philippine Sports Commission (PSC), in cooperation with the Philippine Sports Institute (PSI), brought cheers to some 600 children through the Unescocited Children’s Games that were held simultaneously in Jose Abad Santos (JAS), Davao Occidental, and Banaybanay, Davao Oriental, last November 8 and 9.

PSC Chairman William Ramirez said the sports agency has been faithful and committed to President Duterte’s mandate to bring sports to the provinces.

“We have visited provinces which have never been visited by the PSC or any other sports program before,” Ramirez said.

The road to JAS was tedious. From Davao City, the PSC Mindanao staff, led by program coordinator Cholo Elegino, had to cross three rivers to reach the municipality, which was roughly 229 kilometers and a seven-hour trip from Davao City.

But seeing the faces of 300 kids eagerly anticipating a day of fun and games at Holy Cross of Caburan was indeed worth the challenging trip.

About 250 children in the municipality played tug of peace, sack race, piko, dodgeball, kadang-kadang and dampa.

On the side, Elegino conducted a basketball clinic to 20 budding dribblers while veteran Coach Mario Mojica facilitated the volleyball clinic to 31 participants.

Holy Cross of Caburan Principal Sister Judalyn Caberos graced the two-day event, which also saw 30 Ate-Kuya leadership training attendees.

This was designed for volunteers who handled the Children’s Games participants.

Muslim children of the Kagan tribe from San Isidro Labrador Parish played with Christians and Lumads, showing that sports crosses barriers of religion, culture and socioeconomic status.

“I’m happy that plenty of Muslim kids joined the Children’s Games. This just proves that sports is inclusive, a powerful vehicle for peace,” PSC Mindanao Cluster Head Ed Fernandez said.

Another 300 children joined the games, while 30 participated in the Ate-Kuya leadership training that he and consultant Gemima Valderrama conducted.

PSC also donated sports equipment to Banaybanay Municipal Government, which was received by Mayor Adalia Lopez and to the San Isidro Labrador Parish Church through parish priest Edito Bano along with Vice Gov. Niño Uy who also witnessed the children play Larong Pinoy games.

Martirez wins, Bona triumphs in Contreras netfest in Roxas City

TIGERS EXPECT TOUGHER MAROONS IN K.O. GAME NIVERSITY of Santo Tomas (UST) tries to go full throttle anew against University of the Philippines (UP) as both schools clash in a do-or-die semifinals of the University Athletic Association of the Philippines Season 82 men’s basketball tournament on Wednesday at the Mall of Asia Arena.

The Growling Tigers preyed on the Fighting Maroons with an easy 89-69 victory last Sunday which negated the twice-to-beat advantage the State U earned in the eliminations.

With 17,772 fans in attendance, the boys in yellow played tough basketball right from tip-off to step an inch closer to the Finals.

But with a core of star players, UP is expected to bounce back and fulfill its mission of arranging a rematch with defending champion Ateneo.

Action fires off at 4 p.m.

Aldin Ayo, the second-year coach of the Growling Tigers, expects heavy retaliation from the Maroons.

“They’re going to adjust, and I think they’re going to be physical. It’s a do-or-die game, and physicality happens. But I believe no one from them plays dirty, and physicality is part of basketball,” Ayo said.

“So it will be tough for us because it will depend on how they will counter,” he added.

UP grabbed the No. 2 seed after the two-

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DUCATION is the start of responsible gun ownership.

With this untiring crusade as the forefront of its campaign, the Association of Firearms and Ammunition Dealers of the Philippines Inc. (Afad) holds the second part of its 27th Afad-Defense and Sporting Arms Show from Thursday to Monday at the Megatrade Hall of the SM Megamall in Mandaluyong City.

Taking the cue on the success of the show’s first part last July at the same venue, Afad President Alaric Topacio said more

than the usual Arms Show is in the offing as over 61 member-exhibitors have joined to showcase the biggest collection of firearms, ammunition, gears and paraphernalia.

Aside from the product displays, the Afad, in collaboration with the Philippine National Police (PNP), has lined up seminars and educational programs on self-defense, responsible gun ownership, firearms safety handling, regulation policy on gun-ownership and other exciting activities.

“Afad is using the show as a platform to educate people about responsible gun

ownership as we join the government’s efforts to fight the proliferation of illegal guns,” said Topacio. “Also, enthusiasts can bring their families, as well, as we have lined up programs and activities for wives and children.”

Sens. Ronald “Bato” de la Rosa and Ralph Recto have confirmed their attendance as guest speakers in the opening ceremony set at 10 a.m. Also invited are the officers and representatives of the PNP and other law enforcement agencies.

“The PNP, together with the Afad, is also providing an LTOPF caravan to help gun-

Visayas.

De Juan repulsed Queeny Villa, 5-3, 4-2, for the 10-unisex title; Raymundo overpowered Roger Lamparero, 6-3, 6-1, for the boys’ 16-U plum; Nowlakha scored a 6-3, 2-0(ret.) win over Lamparero; Suace turned back Villa, 6-3, 7-5, for the girls’ 12-U trophy; and Aguirre held off Alexandra Onte, 7-5, 6-1, to bag the girls’ 14-U crown.

But the Suace siblings foiled Martirez and Aguirre, 8-5, to clinch the 18-U doubles plum. Other winners were Lester Astromenada and Joshua Raymundo (boys’ 18-U), Aguirre and Onte (girls’ 14-U), Derrick Guillano-Astromeda (boys’ 14-U) and Rafael Santiago-Villa (10-unisex) while the ruling the Legends division were Rodel Borres and Rainjo Castro (40s); Borres and Jonelle Llavore (50s), and Simon Nicor and Fulgencio Legaspi (60s).

Next up in the circuit, sanctioned by Unified Tennis Philippines made up of PPS-PEPP, Cebuana Lhuillier, Wilson, Toby’s, Dunlop, Slazenger and B-Meg, is the PPS Iloilo leg from November 15 to 19 at the La Paz tennis courts which will feature another Group I juniors tournament plus the Legends 40s, 50s and 60s categories. For details, contact PPS-PEPP Sports Program Development Director Bobby Mangunay at 0915-4046464. owners process their gun-license application and renewal, so our visitors have the luxury of faster processing for their gun licensing needs, while viewing the best products available,” Topacio said.

Topacio said that the Afad is steadfast in the promotion of sports shooting and responsible gun ownership for all qualified individuals.

“Afad is not just for supplying the best firearms, ammunition and accessories for recreational, sporting activities and security details. The firearms industry breaks bread with all stakeholders and helps the government in its fight against the illicit trade of firearms and for the promotion of responsible gun ownership,” he said.

Seismologists measure shake from fans at MLS championship

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Sports

| Wednesday, November 13, 2019

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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EATTLE—Seismologists in Washington state have used Major League Soccer’s (MLS) championship as an opportunity to study information collected while fans shook the stadium.

KING-TV reported the Pacific Northwest Seismic Network-installed seismic monitors at CenturyLink Field Sunday for the championship match between the Seattle Sounders and Toronto FC. They found the biggest vibrations happened when the Sounders scored during the team’s 3-1 win.

Researchers from the network based at the University of Washington recorded vibrations during the game to help interpret data registered by seismographs.

Their instruments measure seismic waves from earthquakes or other events that make the ground shake.

Toronto waited a decade to enjoy a celebration. As the Seattle Sounders paraded the championship trophy around their home stadium, only those clad in red headed for the exits.

Ten years after helping change the scope of MLS, Seattle finally got to see its home team host the championship match. And it was rewarded with a second celebration in the past four years.

“The players and the fans deserve this,” Seattle Coach Brian Schmetzer said. “The players persevered because again it was a firsthalf we needed to make some adjustments and they never quit. And the fans never stopped believing. I’m very happy and proud for the city and the fans.”

Kelvin Leerdam settled the nerves of those home fans with his 57th-minute goal off a deflection, Victor Rodríguez and Raul Ruidíaz added the cappers and the Sounders beat Toronto FC 3-1 on Sunday to claim the MLS Cup title.

Playing before the second-largest crowd for an MLS Cup final, the Sounders withstood a nervy first 45 minutes where Toronto was the better side, before capitalizing on their opportunities in the second half and setting off a wild celebration that lasted nearly an hour after the final whistle. CenturyLink Field shook when Rodriguez gave Seattle a 2-0 lead in the 76th minute and the stadium rattled again when Ruidíaz made it 3-0 in the 90th.

“I got a little teary-eyed, not so much for winning the trophy but winning it at home with our fans, and having that positivity and joyous moments that you can share with everybody,” Seattle goalkeeper Stefan Frei said.

Seattle had craved this moment since it joined the league in 2009. The Sounders brought record crowds and record success—11 straight playoff appearances—but its previous two appearances in the finals both required trips to Toronto. Seattle wanted to be on display, wanted to show how soccer-mad the area was, wanted the showcase of playing for a championship with a stadium crammed full of green.

They got their wish. The 69,274 in attendance was a stadium record, the largest crowd to see a soccer match in Seattle and the second-largest to witness an MLS Cup final behind last year in Atlanta. Seattle became the sixth franchise in league history with multiple titles. The Sounders joined Houston, Sporting Kansas City and San Jose with two titles. The LA Galaxy have five, and DC United four.

It was among the most anticipated finals in league history, and Seattle—eventually— delivered.

“If we played this game in Toronto, we would have lost,” Seattle midfielder Cristian Roldan said.

“But with our fans, the ball bouncing our way at home, we won this game.” AP

BusinessMirror

RONALDO TANTRUMS JUVENTUS’ Cristiano Ronaldo and Milan’s Theo Hernandez in action during their Series A match at the Allianz Stadium in Turin, Italy. AP

By Daniella Matar The Associated Press

M

ILAN—Cristiano Ronaldo walked off the field and glared at Maurizio Sarri, muttering something undiscernible.

He then stormed down

the tunnel.

It was the 55th minute of Juventus’ match against AC Milan and Ronaldo had just been substituted for the second straight match after another disappointing performance.

His replacement, Paulo Dybala, went on to score the only goal, helping Juventus to a 1-0 victory on Sunday.

Italian media reported that Ronaldo wasn’t around to congratulate Dybala or his teammates, having left the stadium shortly before the final whistle.

“I don’t know,” Sarri said when asked if that was true. “If it’s true what you say then it’s a problem for him to sort out with his own teammates.”

Sarri, who took over as coach at Juventus

this season, insisted he was more than fine with Ronaldo’s reaction toward him. In fact, he was glad about it.

“If he gets angry at being substituted after all he has won, I’m very happy about that because it means he still has his head fully in the game and he wants to help the team at all costs,” Sarri said. “I like it when a player reacts a bit when he gets taken off. I would be much more worried if it was the opposite.”

Sarri said Ronaldo has been bothered by a knee injury for nearly a month and is playing through the pain.

However, former Juventus Coach Fabio Capello said the 34-year-old Ronaldo is not the same extraordinary player.

“I didn’t like it [his reaction], it wasn’t nice,” Capello said. “He should be a champion also when he comes off the field.

“The truth is Cristiano Ronaldo hasn’t dribbled past an opponent in three years. When he played in Spain he always went past players and left them there...at the moment he can’t do the kind of moves that Dybala can.”

Ronaldo finished last season—his first in

Italy—as Juve’s top scorer with 28 goals in all competitions. He has six so far this season, two fewer than he had after the same number of matches last year.

Ronaldo’s next matches will likely be for Portugal in European Championship qualifying matches against Lithuania and Luxembourg.

Cagliari’s match against Fiorentina was emotional for both teams and, especially, for Giovanni Simeone.

Play was interrupted in the 13th minute to remember former Fiorentina Captain Davide Astori, who was found dead in his hotel room in March 2018 at the age of 31. The defender used to wear the No. 13 shirt and spent most of his career at Cagliari and Fiorentina.

Both sets of teams and fans stood to applaud.

Simeone, who joined Cagliari from Fiorentina in the off-season, was in tears as he pointed to the sky and saluted after scoring his team’s third goal in a 5-2 victory.

“I will always carry this day with me in my heart,” Simeone said.

Cagliari defender Fabio Pisacane also

dedicated his goal to Astori.

“I knew him since our youth team days. He was a guy who was loved by everyone, that was shown by the wave of emotion after his death,” Pisacane said. “I scored in the 26th minute which is 13 plus 13, his number.”

Cagliari moved into the Champions League slots with the win. The Sardinian club has finished in the bottom half of the standings in each of the three seasons since it was promoted in 2016.

In Kyiv, the Ukrainian Premier League on Monday called for an inquiry after a Brazilian player for Shakhtar Donetsk was sent off for responding to racist abuse with an obscene gesture.

Footage of Shakhtar’s game against Dynamo Kyiv on Sunday showed midfielder Taison displaying his middle finger to the Dynamo away fan section and kicking the ball into the stands.

Anti-discrimination group FARE Network said the referee implemented the first two steps of UEFA’s anti-racism protocol—making a stadium announcement and taking players

off the field—but didn’t move to the third step, which would be to abandon the game.

“I will never stay quiet after seeing such an inhuman and despicable act!” Taison wrote on Instagram late Sunday.

“My tears were of indignation, repudiation and impotence because there was nothing I could do at that moment! But we were taught to be strong and to always fight! To fight for our rights and for equality!

“In a racist society, it’s not enough not to be racist, we must be anti-racist! We need more respect in football, we need more respect in the world,” he added.

Taison has played eight games for the Brazilian national team. He moved to Ukraine in 2010 with Metalist Kharkiv and joined Shakhtar three years later.

The league said it “deeply regrets” the incident and condemns racism.

“The UPL believes that the competent disciplinary organ will investigate this case as a priority,” the league said.

Dynamo has a history of far-right involvement in its fan base.

At a Champions League game against Chelsea in 2015, a group of supporters chased black spectators through the stands and beat them. Since that incident, which led to sanctions from UEFA, Dynamo’s players have often worn anti-racism messages on their uniforms instead of sponsors.

That hasn’t been popular with sections of the club’s fan base. FARE posted a picture of what it said was a sticker made by Dynamo fans ahead of the Shakhtar game reading “like racism.”

“Today my players showed their strong character once again, the character they showed during the whole match,” Shakhtar Coach Luis Castro said after Sunday’s game, which his team won 1-0.

“I would like now to support all of those suffering from racism, those guys who faced it today, because racism is unacceptable,” he said.

“It is, it was and it will be a shame for all, and we all have to fight against it every day, every minute and every second.”

SALAZAR

Track Coach Salazar files doping case appeal at CAS

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RESEARCHERS from the network based at the University of Washington record vibrations during the game to help interpret data registered by seismographs. AP

AUSANNE, Switzerland—The Court of Arbitration for Sport (CAS) said it has registered an appeal by track Coach Alberto Salazar against his ban for doping violations, though a hearing will take several months to prepare.

CAS says Salazar and Dr. Jeffrey Brown appealed against their four-year bans by the United States Anti-Doping Agency (Usada).

After a multiyear Usada investigation, Salazar and Brown were found guilty of doping violations linked to the Nike Oregon Project training camp. Usada said Salazar ran experiments with supplements and testosterone, and possessed and trafficked the banned substance.

The case also related to falsified and incomplete medical records that disguised the work.

CAS says Salazar and Brown asked for more time to file “written submissions and evidence,” adding the hearing is “unlikely to take place before March.” Verdicts typically take at least a further several weeks.

For years, Russian leaders portrayed pursuit of the doping scandal that has paralyzed the country’s Olympic aspirations as a mission driven by political interests in the West.

Recently, fissures erupted between their

own countrymen, ratcheting up the tension in advance of a decision that could determine the country’s fate for next summer’s Tokyo Games.

The internecine nature of the Russian doping saga spilled into full view when the country’s sports minister, returning to Moscow from an anti-doping conference in Poland, said there had been no manipulation of crucial doping data handed to the World Anti-Doping Agency earlier this year.

That brought this response from the leader of the newly reconfigured Russian Anti-Doping Agency, which stands to be punished if, in fact, it’s discovered that Russians did tamper with the data: “He lives in the world of illusion.”

Those words from Yuri Ganus, still in Poland, came in response to the comments from Sports Minister Pavel Kolobkov in Russia. Kolobkov insisted there were no deletions or manipulations of the data, and that it was “a purely technical issue related to how the system itself works.”

“Yuri...needs to do his own job and not interpret documents which don’t contain the information he is expressing publicly,” Kolobkov said. “The so-called manipulations which Yuri... is talking about aren’t there, and that word isn’t mentioned anywhere.” AP

Tender and loving God

D

EAR God, You gather all peoples together in Christ. Help us to see one another as brothers and sisters as we pray: Oh God, heal us. Inspire those who seek Your help through counseling, spiritual direction or the sacrament of reconciliation.

Help us to end the arms race and embrace creative and life-giving means to address poverty, injustice, and conflict between nations and individuals. Inspire medical researchers and scientists in their efforts to understand and treat AIDS, cancer and other diseases.

May the God of endurance and encouragement grant us to live in harmony with one another and glorify God together, through Jesus our Savior. 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

SHIA LABEOUF THOUGHT HE WAS FINISHED, THEN HE WROTE ‘HONEY BOY’ D3

Wednesday, November 13, 2019

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Fewer protections come with digital payments like Apple Cash

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By SoPHia roSenBaUm The Associated Press

EW YORK—My desperation to see Ariana Grande in concert created the perfect trap.

Instead of seeing her sing about love and loss, I got sucked into an online ticket scheme that cost me $75 and a big chunk of my pride.

Con artists often get away with scams like these because digital payment services, such as Venmo and Apple Cash, don’t protect consumers the same way credit cards do. As a rule of thumb, the newer the service, the more likely con artists will target it.

“The regulations haven’t caught up with these technology capabilities,” said Krista Tedder, head of fraud management at the advisory firm Javelin Strategy and Research.

With credit cards, a federal law caps your liability at $50, and most companies go further with zeroliability policies. Debit cards typically offer similar protections if you report the fraud immediately. In addition, banks go through a series of verifications before letting someone open an account.

But digital payment services work more like cash.

When fraud occurs, it’s as though someone took off with your $20 bill.

Because such services aren’t bound by the same regulations as credit and debit cards, it’s up to individual companies to offer protections themselves.

Experts say Western Union, which has been offering money transfers long before smartphones, devotes a team to monitoring and validating transactions. Tedder said Western Union would even call a customer if something looks suspicious.

“They really treat every transaction as a potential risk,” Tedder said.

A more recent service, PayPal, offers reimbursements when merchants ship damaged or counterfeit items, but digital money transfers aren’t covered.

The newest ones, including Apple Cash, are still figuring out how to deal with fraud, experts say.

Others, like Facebook’s proposed Libra currency, are on the horizon.

“These payment systems should carry a big red flag that says you’re not protected,” said Avivah Litan, a senior analyst at Gartner. “I never use them because I know of all the perils.”

Western Union and PayPal, which also owns Venmo, declined comment on their fraud-protection policies. Apple also declined to comment, but offers online tips that warn, “If you’re not sure about their identity, don’t send the payment.” To be fair, my phone warned me to use Apple Cash only with people I knew, but I ignored that in my desperation to get the tickets.

I wrongly assumed that because Apple Cash was drawing money from my debit-card account, I’d be protected if anything went wrong.

fell for it, angry that companies aren’t protecting me and sad that I didn’t get to go to the concert.

“A lot of people have this happen to them and blame themselves, and it’s not their fault,” Tedder said.

It’s not clear how widespread these scams are.

The Department of Justice found only 15 percent of all fraud victims report it to law enforcement. The FBI says while it’s unclear why so few people report fraud, many of the complaints they do receive show victims were embarrassed or worried their family would be devastated.

Tedder said that if more people reported these scams, it could better inform government agencies tasked with tracking and, in turn, creating solutions and policies for these types of crimes.

Experts also say consumers are typically unaware what is and isn’t protected. Litan said she believes the government should do more to educate people.

There are some hopeful developments. Apple has partnered with Goldman Sachs for an Apple-branded credit card, which some experts say may put pressure on Apple to get more serious about protecting its consumers on other services like Apple Cash.

But even newer services—and newer targets for scammers—are coming. Facebook is working on a digital currency called Libra, which the company says will allow for easier buying and selling across the Internet. Facebook says when people spend Libras through Facebook’s own wallet, Calibra, their identities will be verified to help guard against fraud.

But well before the currency’s launch, scammers are already trying to sell fake Libras.

In the words of Ariana Grande, I have “learned from the pain.” Fortunately, I’ll be able to see her sing that very line next week in New York, as she added more concert dates after I was scammed. I bought two tickets through Ticketmaster. Though fees get expensive, I now realize I’m paying for peace of mind. n

As I looked for tickets online for Grande’s sold-out show in September, some of the people I spoke to clearly were scammers: They wouldn’t send pictures of their tickets. Their social-media account seemed too new to be real.

But one person had a plausible story about just wanting to get some money back for a show he couldn’t attend. We talked twice through a Facebook Messenger call, which I found comforting, though my partner later pointed out it was a false sense of security. The biggest red flag I ignored was the

scammer’s insistence on using Apple Cash, a payment method I was unfamiliar with. Launched in 2017, Apple Cash lets iPhone users send money to each other through Apple’s Messages app. Money you send comes out of your bank account. Money you get can be spent at merchants that take Apple Pay or moved back to a bank account.

Five minutes after I sent $75 through Apple Cash, the scammer’s Facebook account disappeared, and so did all my ways of contacting him.

Since then, I’ve felt guilty and embarrassed that I

Huawei ships 200 million smartphone units for 2019 in record time GLOBAL technology brand Huawei’s relentless focus on cutting-edge technology and innovative ID design, with its complete commitment to consumers worldwide, has reinforced the trust and commitment of more Filipino consumers to the brand.

As the Huawei Consumer Business Group announced that it has shipped 200 million smartphones around the globe to date in 2019, which is 64 days earlier than the same shipment milestone last year, George Li takes the opportunity to thank the Philippine market for its continuous support for Huawei, “We’re thankful for the support of Filipinos and for contributing to the massive success of the company. Huawei has been helping to shape and navigate Philippines’s digital future ever since, and we are grateful that we’ve grown alongside our consumers and partners making it possible for us to achieve a record-high 200 million shipments.”

The Huawei Mate 30 Series launched to great critical acclaim featuring the flagship Kirin 990 SoC, DxOMark-winning quad camera system with breakthrough SuperSensing Cine Camera and futuristic Halo ring design.

In accordance with this commemorative milestone, Huawei recently announced the availability of Huawei Mate 30 Series Powerhouse duo

in the Philippines.

Those who preordered Mate 30 Pro (P50,990) and Mate 30 (P34,990) on or before November 8 got a Huawei Wireless Charger and a Huawei Wireless Car Charger for free.

Purchase of either these two powerful devices also

comes with the “ultimate VIP service” that includes a two-year warranty, free one-time screen replacement within the first three months of purchase, door-todoor delivery for hassle-free pickup and drop-off of phones for repair, and a VIP hotline dedicated to support Mate 30 Series consumers.

FLAGSHIP NEX 3 SMARTPHONE IS NOW AVAILABLE A LEADING global technology company committed to creating trendsetting smart mobile innovations and services, Vivo has now released to the market what is arguably one of the year’s most exciting smartphones: the NEX 3, the brand’s latest flagship which is now available in local channels and at authorized Vivo stores nationwide at only P39,999.

The much-anticipated smartphone in the brand’s high-end NEX series, touted to be a “device of the future,” is also available online at bit.ly/ LazadaNEX3 and bit.ly/ShopeeNEX3.

The Vivo NEX 3 (bit.ly/2K5caFN) is equipped with Snapdragon 855 Plus and 8GB RAM/128GB ROM, all powered by a 4500 mAh battery. For a “future beyond edges” experience, the NEX 3 boasts the world’s first Super AMOLED Waterfall FullView display and a seamless body without any notch, bezel or buttons. It also has a 64-megapixel primary camera, a 13MP wide-angle camera and a 13MP telescopic camera in the rear, and a 16MP elevating front camera for high quality images.

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Pet Corner BusinessMirror

Wednesday, November 13, 2019

Food rewards: Way to a dog’s heart is through its stomach EMMY, a harrier, keeps her eyes on a treat offered to her by handler Mike Gowen in the benching area before competing in the 142nd Westminster Kennel Club Dog Show, at Madison Square Garden in New York. Research shows that training dogs with food is more effective than using other rewards, like praise, and doesn’t have the risks of alternative methods.

AP

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By Linda Lombardi The Associated Press

W

HY train your dog with food rewards?

A growing body of research says it’s the easiest and most effective way to train.

“Using treats during training is the best way to guarantee that your dog will repeat the behavior you want,” says the American Kennel Club.

Other methods don’t work as well, experts say, and can even harm your dog and the pet-owner relationship.

Erica Feuerbacher, an assistant professor in the Department of Animal and Poultry Science at Virginia Tech, did a study that compared a food reward to the reward of petting and praise. Dogs were clear about what they preferred: “They’ll work harder and respond faster for food than for social interaction,” she says. Dogs do love to be with us, but our monkey chatter doesn’t mean that much to them: Feuerbacher has found that dogs will stay near a person who’s praising them for the same amount of time as if they’re being ignored.

And if you want your dog to obey just because they love you, get real.

“If only it was like that!” says Zazie Todd, author of the forthcoming Wag: The Science of Making Your Dog Happy (Greystone Books, 2020). “If your boss stopped paying you, you’d probably stop going to work pretty quickly. You need to motivate your dog, too.”

Dog trainers also talk about “life rewards” like getting to play or go for a walk. These can be useful, especially to maintain behaviors you’ve already trained, but are more complicated and take longer.

“For most everyday behaviors that ordinary people want to teach, food is quicker and easier,” says Todd.

“You want to find a trainer who’s using modern reward-based methods, and that means they’ll be using food to train a dog,” she says.

Consider the alternatives that don’t involve rewards. Punishment also works to change behavior.

After all, in nature, animals that don’t avoid painful experiences aren’t going to live long.

FROM left: B Hotel Quezon City Hotel Manager Sonny de los Santos, the top 3 BQC Supawstar 2019 winners, and BH&R Marketing Manager Jell Villarin

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Gerard Butler, 50; Jimmy Kimmel, 52; Whoopi Goldberg, 64; Chris Noth, 65.

HAPPY BIRTHDAY: Take pride in what you do. Don’t let anyone pressure you to speed up when in order to do things properly you need time. Protect your good name and your integrity. Someone from your past is likely to disrupt your life. Don’t believe everything you hear. When faced with controversy, do your due diligence to find out the truth. Your lucky numbers are 6, 13, 20, 27, 35, 39, 44.

a

ARIES (March 21-April 19): A change in the dynamics of a relationship will leave you feeling emotional. A physical activity will help ease your stress. Don’t make a move until you have all the facts. Updating your image or changing your look will boost your morale. HHHH

b

TAURUS (April 20-May 20): Do whatever it takes to stabilize a situation that has become emotional. Someone you have helped in the past will pay back the favor. Be realistic and draw on previous experience to help you come to an amicable conclusion. Be willing to compromise.

HHH

c However, research has shown that using punishment in dog training has serious side effects.

“The risks include fear, anxiety and stress,” says Todd, “and they include an increased risk of aggression, because the dog may react badly to punishment or the threat of punishment.”

It also affects the human-animal bond. One study found that dogs trained with aversive methods looked at their owners less frequently than dogs trained with positive reinforcement. That’s the opposite of what you want when you’re training. “They associate you with bad things, and become fearful of you,” says Feuerbacher.

Although some trainers use language that obscures this, Feuerbacher says that if you look closely, you’ll see that what’s actually getting their results is something aversive, like a leash jerk. “Oftentimes their ‘energy’ is a looming physical threat that bad things will happen if you don’t comply,” she says.

By contrast, giving a dog food has good side effects.

“If you have a fearful dog, using food is especially important because it builds a positive association through Pavlovian conditioning with the person providing it,” Feuerbacher says. Translation: The way to a dog’s heart really is through its stomach.

Some pet owners say their dog won’t work for food; Feuerbacher says those dogs might be overfed.

Food used for training should be part of their ration of calories, not an addition. So feed a little less to make sure your dog isn’t too stuffed to want more.

While some dogs will work for just a portion of their kibble, for most, you have to offer something better. Feuerbacher says, “Break out the spray cheese or liverwurst—people may need to be creative.”

Research has shown that even dogs get tired of the same flavor all the time.

Also, it’s possible for a dog to be too frightened to eat, so if you have a fearful dog, avoid training in a situation where he’s overwhelmed by unfamiliar sights and sounds. n

GEMINI (May 21-June 20): Put your heart and soul into whatever job you want to accomplish; you will reach your goal. An opportunity is heading your way if you are prepared to pick up additional skills or knowledge that will make the transition possible. HHHHH

d

CANCER (June 21-July 22): Look at situations you face from a different perspective and you will discover a way to get what you want. Catering to what others expect or hope for and offering incentives will bring good results. Listen and observe before you react. HHH

e

LEO (July 23-Aug. 22): Talks will bring about change. Negotiate on your behalf to be sure you get what you want. The stipulations you make, if presented properly, will be granted. HHH

f

VIRGO (Aug. 23-Sept. 22): You don’t have to tolerate changes that aren’t in your best interest. Network and campaign to get the backing you need to counter any plans that may jeopardize reaching your goals. HHHHH

g

LIBRA (Sept. 23-Oct. 22): Problems will surface regarding domestic or personal matters if you let someone meddle in your affairs. Be very clear about how you feel and what you want to see happen. HH

h

It’s reigning cats and dogs In September 2018, B Hotel Quezon City (www.bhotelqc.com), managed by Filipinoowned hotel group The Bellevue Hotels and Resorts, officially became pet-friendly.

To celebrate this milestone, the stylish boutique hotel launched a pet pageant, BQC Supawstar, and introduced the first-ever B Hotel Quezon City Supawstar, Pablo the Corgi.

The fur-riendly pet competition was positively accepted by the community and this year, it has made its comeback with double the fun.

On October 13, B Hotel Quezon City launched BQC Supawstar Season 2 along with the first-ever Pilipinas Pet Fashion Show founded by Adrian Cabuhat. The colocated events were sponsored by Nutram, Prama, Dunsk Kuhner, Saint Roche, Fur Magic, Animal Rescue Foundation, Philippine Pet Birth Control Center, Meowtech, Sleeky, Shopawhowlique, Saver, Love Bite, Pet Tags QC, Barkin’ Bakes Healthy Pet Treats, The Happy Bone, Petdentity, Pet Stuff and Shoppe, Paw Prints PH, Make and Bake Treats, Photoman, Balanced Pet Diet, and Pillows & More.

www.businessmirror.com.ph

Adrianna, a long-haired Chihuahua, brought home the 2019 Supawstar crown, along with some exciting gift items from Dunsk Kuhner, pet mat from The Happy Bone, gift certificates from Paw Prints Philippines, gift bag from Balance Pet Meals, pet bed from Pillows & More, pet carrier from B Hotel Quezon City, and a gift certificate for a three-day, two-night stay in a one-bedroom suite.

Also making a podium finish were Balto, a Shih Tzu-Japanese Spitz mix, for first runner-up, and Boogie, a Shih Tzu, for

second runner-up.

The Pilipinas Pet Fashion Show made its debut with an homage to Philippine culture with a Filipino fiesta theme. The panel of judges included Animal Scene’s Maxine Louise Lagman, stylist Renante Oren Acosta, Scene Zone Cofounder Ned Belleza Algabre, costume designer Jo Buzeta, Rosmar Pet Cage Restaurant’s Rosemarie Peñamora Tan, and fashion designer Olan Roque. The grand winner, representing Oriental Mindoro’s Centurion Festival, was Echoe, a Chihuahua, with fur dad Charlie

de la Cruz. Coming in at second place was Bubbles, also a Chihuahua, with fur dad Rafael Feliciano representing San Mateo, Rizal’s Santo Niño Festival. The third place went to Yuki, a Pomeranian, with fur dad Eunicis Salem representing Pampanga’s Giant Lantern Festival.

Guest speakers at the event included Isay Halaba of Animal Kingdom Foundation, who talked about animal rights and rescues; and Dr. Maricelle Licuanan-Resurrecion, a practicing veterinary surgeon at Mandaluyong Animal Care Dog and Cat Hospital who talked about the importance of controlling the dog and cat population in eliminating rabies, and improving the animal welfare situation in the Philippines.

B Hotel Quezon City partnered with pet food brands and prepared a special buffet for their four-legged guests.

The selection included Liver Cake and assorted treats from Barkin’ Bakes, mini cupcakes and monster paw cakes from Make and Bake, 3-inch paw cakes from Pet Stuff and Shoppe, and such crowd favorites as pet ice cream from Love Bite Philippines, and Woofy Lasagna from Make and Bake.

SCORPIO (Oct. 23-Nov. 21): Keep an open mind, but don’t believe everything you hear. Letting anger take over will bring about change that will not satisfy your needs. Go directly to the source and find out the truth before you react. HHHH

i j

SAGITTARIUS (Nov. 22-Dec. 21): Being honest with yourself is a good place to start.

If you can’t admit when you are wrong or you refuse to believe the truth, you won’t be able to move forward. HHH CAPRICORN (Dec. 22-Jan. 19): Be leery of an offer that is too good to be true. Someone will offer a false impression regarding his or her lifestyle or relationship with someone you’d like to meet.

HHH

k

AQUARIUS (Jan. 20-Feb. 18): Put everything you’ve got into a plan that can help you bring in more cash. A small business venture or applying for a position that offers greater personal growth and opportunity to advance looks promising. Romance is favored. HHH

l

PISCES (Feb. 19-March 20): Deception is apparent. Question anything that doesn’t sound accurate, and don’t offer information that you haven’t verified. You’ll end up being blamed and looking bad if you lack integrity or trust someone who isn’t reliable. HHH BIRTHDAY BABY: You are steadfast, eager and attentive.

You are dedicated and respectful.

‘string quartet’ BY SUSAN GELFAND The Universal Crossword/Edited by David Steinberg

ACROSS 1 Popular navigation app 5 Neighbor of Cameroon 10 Eye malady 14 Greek god with a war chariot 15 Plaintive poem 16 Cajole 17 What helps a kid make a connection on the playground?

20 Highland headgear 21 Window covering 22 Features of many spam e-mails 23 Applies liberally 25 Dads 26 “An-n-nd?”

27 Digital image formats 31 Kid’s game with the shape The Manger 36 ___-Magnon 37 Many moons 38 Silas Marner creator George 39 Foie ___ 40 Make a dent in, say 41 It has its ups and downs 43 1040 or W-4

6 Strike caller 4 47 Artist Lichtenstein 48 Sci-fi transport 53 Pollo accompaniment 56 Makes fuzzy 57 Have bills to pay 58 Hot water insert that you fill yourself 61 Lewd stuff 62 Classy chaps 63 Small fender flaw 64 Chooses 65 Unable to sit still 66 Like some cooked cereal DOWN 1 Bulb units 2 Sans serif font 3 Highly respected spiritual guides 4 PC exit key 5 Folk or soul 6 Bridal path destination 7 Microwave alerts 8 Stare at creepily 9 Times Square countdown time, briefly 10 Sharp divide

1 Minnie Mouse, e.g.

1 12 Pull hard 13 Running into them is often awkward 18 Improvised 19 Land map 24 Salad recipe instruction 25 Michelangelo masterpiece 27 Coalition 28 Reason to avoid skydiving 29 “___ for Me” (hit from Black Panther: The Album) 30 Just fair 31 Sleeveless undergarment, briefly 32 Petri dish gel 33 Towel off again 34 Class of ‘18 member, for one 35 Clamor 39 Elliptical buildings?

42 Ward worker 44 Puts the finishing touches on a cake 45 Move like slime 48 Viewpoint 49 Jumbo the Elephant’s Massachusetts school 50 Like craft shows

1 Start of a demand 5 52 Fleming or Noonan 53 Additionally 54 Frolic 55 Lopsided victory 56 “How have you ___?”

59 NYC hub 60 Hubbub Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, November 13, 2019

BLIND SPOT BRUCE C.

YOUNG LOVE

THESE teenagers are being promoted as a love team and it’s been a mild success, although they haven’t had starring roles, yet. But even now, there is already trouble. The boy has fallen in love with another girl, a former child actress who also belongs to their network. The girl in the original love team, meanwhile, has her heart set on a young upstart also in their network. You’d initially think it seems such a waste that they would abandon the love team for, well, love. But love works in mysterious ways. Who are we to judge?

JUST A KISS

DIRECTOR Alma Har’el, actor Lucas Hedges and actor Shia LaBeouf posing for a portrait to promote their film Honey Boy during the London Film Festival. AP

Shia LaBeouf thought he was finished, then he wrote ‘Honey Boy’ N

By Jake Coyle The Associated Press

EW YORK—While in court-mandated rehab following his viral-videoed, racist-ranting 2017 arrest for public drunkenness and disorderly conduct, Shia LaBeouf put his childhood reflections into screenplay format. That’s just what he knew. An actor since he was 10, LaBeouf’s life had been a series of screenplays.

Some better than others. Few as raw and intimate as what he wrote.

It was intended as a therapeutic exercise to trace the roots of LaBeouf’s alcoholism (which led to that 2017 incident) and his diagnosed post-traumatic stress disorder. He wrote about himself and his father. He hadn’t spoken to him in seven years. His dad, whose name is Jeffrey LaBeouf, had served in Vietnam and been a rodeo clown. While LaBeouf was a fast-rising child actor, he was his son’s paid chaperone. He was aggressively supportive, riddled with jealousy and, according to the film, occasionally abusive.

LaBeouf sent his pages to his friend, Israeli-born director Alma Har’el. She, at once, responded that they had to turn it into a movie.

“I thought she was out of her mind,” says LaBeouf.

“I didn’t think we could get funding. I didn’t think anybody was trying to make movies with me anymore. I was going to join the Peace Corps.”

Instead, Har’el found the funding and they made Honey Boy” with an added wrinkle, urged on by Har’el: LaBeouf plays his father. It’s the most critically acclaimed film of LaBeouf’s career.

For even an actor known for performance-art stunts (remember the paper bag over his head ) and public displays of painful self-examination (LaBeouf once sat for a marathon of all his movies at New York’s Angelika Film Center, an experience he compares to flipping through your high-school yearbook with strangers), Honey Boy is something else.

The film, which Amazon Studios opens in theaters this weekend, is radically autobiographical for such a well-known movie star. As therapy writ large, it’s a striking exercise in empathy in which LaBeouf wrestles and ultimately comes to peace with his father. LaBeouf considers it an act of exorcism and liberation.

“There’s something freeing about this experience and also going a little bit crazy,” says LaBeouf. “Going a little bit crazy, I wish that on everyone. There’s something very freeing about going a little bit crazy.

Crazy is freedom.”

Har’el first met LaBeouf after the actor, while rummaging in the Bob Dylan section of Los Angeles’s Amoeba Records, came across her dreamy quasidocumentary portrait of three residents living in a ghost town on the shores of the Salton Sea, Bombay Beach. LaBeouf executive produced her next film, 2016’s Love True. In those and Honey Boy, Har’el has made a habit of bending gender and identity, capturing and deconstructing what she calls “the performance of self.”

Har’el thought LaBeouf’s first act, before they made the movie, should be to go talk to his father, who lives in Costa Rica. He did, read him the script and got his blessing, “both legally and spiritually” says Har’el.

“We’re done fighting with each other,” says LaBeouf. “I missed him terribly. We missed each other. Way more than I want to be right, I want my dad.”

Their divisions, he says, came in part from politics but more deeply grew out of the period depicted in Honey Boy, when LaBeouf was starring on the Disney Channel show Even Stevens. To be closer to set, he lived for a time in a motel with his father. (LaBeouf’s parents are divorced.)

Then a drug addict in recovery, LaBeouf’s father (portrayed in the film as a former sex offender) was in many ways ill-suited as a parent. LaBeouf’s performance is a tender portrait of a damaged man

who damaged his son, but who still gave him much.

By placing himself in his father’s shoes, LaBeouf could see their life together through his dad’s perspective.

“My dad is a fighter, a survivor. He’s some kind of cockroach,” says LaBeouf. “It’s unbelievable how he’s able to stay afloat. I can’t believe he’s still alive. He’s a street poet. He’s cowboy culture. He’s Americana. He’s a soldier. He’s an artist. He’s a comedian. He’s a lover.

He’s a beautiful man.”

While Honey Boy was obviously therapeutic for LaBeouf, Har’el emphasizes no movie can vanquish such demons.

“Being an adult child of an alcoholic or being anybody that suffered from childhood trauma at a young age had their wires crossed when it comes to love and pain. It’s a lifelong journey,” says Har’el, whose father also struggles with alcoholism. “This film, you could say it’s therapeutic but really what it was is a very big opportunity to go into that room where all the trauma happened and see it from a different perspective.”

Har’el, LaBeouf says, is “by far” the best director he’s ever worked with. When she finished the film, he sent a link to his father and set up a web cam so he could watch him watching the movie.

“We just cried for like 90 minutes,” says LaBeouf.

“And giggled and laughed.”

At a ceremony earlier this week, LaBeouf accepted a screenwriting award for Honey Boy. He thanked his parents but also the Savannah, Georgia, police officer who arrested him for “changing my life.” The next day, LaBeouf said, the policeman called him to invite him fishing.

LaBeouf wasn’t eager to talk about the arrest again. He’s said it all before, he says. Some memories obviously still sting. But after Honey Boy, he grants, it’s hard to draw a line.

“That’s the thing about getting naked in front of the world,” says LaBeouf. “There’s nothing too personal anymore.” n

THE young diva has been unlucky in love, sort of.

Her career is doing very well but her last boyfriend, who is an actor, turned out to be a creep. While the young diva and the actor present a lovey-dovey image for the public, the guy was actually spending his time creeping into women’s DMs. So they broke up. The actor has since moved on. The young diva is happily single. But what is this we heard that she was spotted kissing a dancer at a big showbiz party last week?

The guy is cute and talented but after her recent heartbreak, we’re thinking the young diva should be more careful about who she gets involved with. But she’s a grown woman, and she knows what she’s doing.

ANGER MANAGEMENT ISSUES

YES, she did it again. The young actress, a former child star, has once again figured in a controversy involving her boyfriend and his costar in a project. The young actress was so jealous that she created a scene. But everybody swears that the boyfriend and his costar are just coworkers. They aren’t even friends, they said. Well, the young actress thought otherwise. It’s funny because this same situation happened with her ex. She became so jealous of a costar that she accused her then-boyfriend and the girl of having an affair.

Everybody believed her until they realized that even after the breakup, the guy and the other girl did not become an item.

That’s because they are really just friends. The young actress probably needs anger management guidance before she does anything drastic.

CLINGY BOYFRIEND

EVERYBODY is wondering why the young actress is always accompanied by her boyfriend. He even goes with her on working trips where he is not supposed to be. Sometimes the trips are for the stars and staff who are working on a certain project and he’s there, sharing a room with her when she should be with her personal assistant who helps her with her job. People are, in fact, wondering how the boyfriend can do his job when he is always with her. Before, he seemed rich but jobless but he is gainfully employed now.

Singer Pete Doherty detained in Paris over cocaine sale PARIS—Paris authorities say British singer Pete Doherty has been arrested in Paris for buying cocaine.

The Paris prosecutor’s office said the 40-yearold former Libertines and Babyshambles frontman was placed in detention in the night of Thursday to Friday after being stopped by police during a drugs transaction. The office wouldn’t confirm French media reports that Doherty was carrying 2 grams of cocaine and was arrested in Pigalle, an area known for its late-night bars.

Since rising to fame in the noughties, Doherty, the ex-boyfriend of model Kate Moss, has been repeatedly arrested for drug offenses. AP

Values-driven Jollibee ‘Choice,’ ‘Schoolboy’ clips top YouTube Ads Leaderboard WITH the brand being a consistent part of the YouTube Ads Leaderboard, Jollibee continues its digital engagement leadership through relevant and insightful storytelling. Two of the well-loved brand’s videos made it to the local ranking list for the most effective ads in the first half of 2019, with Kwentong Jollibee Valentine installment “Choice” and Kwentong Jollibee Mother’s Day Special “Schoolboy.”

The biannual YouTube Ads Leaderboard Philippines recognizes the top 10 brand advertisements based on a combination of popularity and promotion on YouTube ads during the first and second half of the year.

Directed by Ianco de la Cruz, “Choice” revolves around the story of Ann, a young woman who is torn between two men in her life. While sharing profound moments with her longtime best friend Paul, she also begins to find comfort in Jay—a new co-worker who has helped her discover a different side of herself.

“Choice” has garnered more than 5.7 million YouTube views as of October 31.

Meanwhile, the Kwentong Jollibee Mother’s Day episode “Schoolboy” follows the narrative of a young student as he overcomes his insecurities with the help of his mother’s care and encouraging words that gave him the assurance he needed.

As of October 31, “Schoolboy” has reached over 5 million YouTube views.

“With the two videos making it to the Top 10 of the YouTube Ads Leaderboard Philippines, we are truly grateful to share with Filipinos the stories we’ve been fortunate enough to have come across. We commit to continue developing groundbreaking online content, anchored on compelling storytelling, that will inspire more Filipinos to believe in the joy of love and giving,” shared Arline Adeva, Jollibee Philippines assistant vice president for Brand Communications,

PR and Digital.

For the first half of 2019, Google Philippines shared the observation of the YouTube Ads Leaderboard that harping on seasonal and moment celebrations continues to be one of the powerful trends among the lineup of advertisements, inspired by relevant themes close to their audience’s hearts.

The Valentine’s Day installment “Choice” depicts the reality of having loved and lost in life, and continuing to have faith in love. “Schoolboy,” on the other hand, features the unexampled power of a mother’s nurturing love in time for this year’s Mother’s Day season. Jollibee has become known for capturing pivotal moments shared within Filipino families and bridging these stories well told with equally powerful Filipino family values, thus positioning them as the only brand that has captured two spots in this semester’s YouTube Ads Leaderboard.

FROM left: Google Philippines B2B Marketing Specialist Pam Cabuslay, Advertiser and Agency Marketing Manager Denise Gamo-Halagueña and Account Manager Al Lim (rightmost) congratulate (third from left) McCann World Group Accounts Manager Tonee Lacson, Jollibee Philippines Brand Engagement Manager Cat Triviño, Assistant Vice President for Brand Communications, PR and Digital Arline Adeva, and Assistant Brand Manager Pamie Cruz.

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Wednesday, November 13, 2019

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Passages: John L. Gokongwei Jr., 93 A GOOD NIGHT’S SLEEP MAY BE IN CLOSER REACH By eriC keZirian University of Southern California FOR millions of people who suffer from sleep apnea, getting a good night’s sleep is an elusive dream.

Patients with obstructive sleep apnea have blockage of breathing while they sleep, leading to snoring, disruption of sleep and the drowsiness or fatigue that often occur. The ailment also can lead to serious health problems such as high blood pressure and a risk of heart attack or stroke.

Sleep apnea affects about 18 million adults in the US and an estimated 1 billion people worldwide. Many are treated successfully with continuous positive airway pressure (CPAP) machines that allow them to breathe by keeping their airways open.

But about one-third of patients who do not tolerate continuous positive airway pressure machines must look for other options, including surgery or oral appliances. There is a wide range of surgical procedures that open the space for breathing in the throat by removing or repositioning structures such as the soft palate (back of the roof of the mouth) or tongue. Although many patients do well with surgery, the results are far from perfect.

As a sleep surgeon and professor of otolaryngology and head and neck surgery, I have focused on evaluation and surgery for obstructive sleep apnea and snoring. My research has examined why some patients do well and others do not with surgical procedures, and if someone who doesn’t fare well with surgery will also not tolerate other treatments.

A ROBBER OF BREATH, AND OF HEALTH THE dangers of apnea go beyond loss of sleep, although that is so important for those who have sleep apnea and seldom feel rested.

While continuous positive airway pressure machines help thousands of people, many thousands more are not helped by them. Surgery and oral appliances are options in some cases.

Oral appliances, mouthpieces that typically open the space for breathing by holding the lower jaw forward, can work well. But, they do not work at all if a patient is not comfortable sleeping with it. And many are not.

Surgery is an option in this group, but even surgery, which traditionally moves or repositions tissue, has not always helped. A device that can be surgically implanted to stimulate the tongue has been showing promise since 2011.

The Food and Drug Administration, based on a study showing that the procedure provides a major improvement in sleep apnea in about two-thirds of patients, approved the device in 2014.

Keck Medicine of USC is part of a group of centers collecting data from sleep apnea patients treated with this product, called Upper Airway Stimulation, in a study paid for by the company. The Upper Airway Stimulation system is placed inside the body during a surgery. The system works by stimulating the nerve that controls tongue movement to move the tongue forward to open the space for breathing in the throat.

AN IMPLANTED DEVICE SHOWING PROMISE RECENTLY, we examined data from nearly 300 patients, including 80 with previous unsuccessful surgery. The typical measure of success for obstructive sleep apnea surgery has two parts: reducing by at least one-half the degree of sleep apnea and also leaving a patient with no or mild sleep apnea.

We measure this by something called the apneahypopnea index, or the number of times per hour that breathing is blocked.

Our study showed that there was no clear difference in results for patients with and without previous surgery for obstructive sleep apnea. While physicians have often assumed that patients who do not see good results after one surgery will not do well with other procedures, our study showed that this was not true for the group as a whole.

We also looked at specific types of patients to see if they were doing better or worse than others. We saw a possible decreased chance of success in those who were not obese (body mass index below 29.1 kg/ m2). This appeared to be related to the fact that those without previous surgery had such a high likelihood of success (80 percent to 90 percent), whereas those with previous unsuccessful surgery had the same likelihood as the rest of the patients. Future studies will examine this question with even more patients to check on whether these findings are clearer.

As someone who treats patients with obstructive sleep apnea, I see many patients who have had surgery but still suffer from obstructive sleep apnea and are looking for more options. Our study showed that new treatments that improve patient care for sleep apnea can be worth exploring. THE CONVERSATION | AP

FOLLOWING the passing of business titan John L. Gokongwei Jr. on November 9, JG Summit and Robinsons Retail released the following statement: “We mourn the peaceful passing of our Founder and Chairman Emeritus John L. Gokongwei Jr. on November 9, 2019. He was 93.

“We, the 75,000-strong employees of JG Summit Holdings and Robinsons Retail Holdings, join the nation in paying tribute to the founder of the first Philippine multinational conglomerate, a philanthropist with a passion for education.

“Mr. John, as we fondly called him, was a visionary. He was an inspiration to entrepreneurs and businessmen around the nation, with his pioneering ideas, his strong work ethic, his passion, and perseverance.

“Today, the Gokongwei Group is one of the country’s largest and most diversified conglomerates with interests in air transportation, telecommunications, banking, food, power, property, hospitality, retail and petrochemicals.

“He is survived by his wife of 61 years, Elizabeth,

and his children Robina, Lance, Lisa, Faith, Hope, and Marcia; his in-laws and grandchildren; brothers Eddie and James Go, sister Lily; and his nieces and nephews.

“The wake will take place from Monday, November 11, to Thursday, November 14, at Heritage Park, Taguig City, from 12 pm to 10 pm. Daily masses will be celebrated at 7 pm. The Funeral mass will be on Friday, November 15, at 8 am at Heritage Park.

“In lieu of flowers, the family requests donations to your favorite charity.”

Job offer anxiety SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

J

OB hunting can be especially tedious when you are itching to start work after graduating, or when your current work does not push your career in the direction where you want it to go.

I have been actively looking for new work over the past six months and I have had several promising leads but also some disappointing ones, because either recruiters did not know what they were doing, or I was not the one they were looking for. It can be terribly frustrating especially if you really want to change the direction of your career but cannot seem to get a break from organizations you want to join. In the past months, I have learned several lessons on waiting for a job offer and what I can do so I do not get trapped in self-doubt, fear and hopelessness.

Do not follow-up on a job offer incessantly. One thing you should know is that there are several processes and activities behind recruitment. One of the things I explain when I interview people for my team is to walk them through the recruitment process so they have an idea how long the process will take. In your final interview, if the recruiter does not give an overview of the recruitment process, do not be afraid to ask how it is so they can give you an idea of how long you need to wait to expect a response from them.

This will lessen the anxiety and help you properly prepare for each stage of the process. I am currently waiting for a job offer from an organization I would really like to join, because of the stability they offer and the opportunities for me to make a difference not only to the organization, but to the country as well.

One of the most important things you should not do is to indicate to your current organization that you are resigning. Make sure you have a formal job offer before getting into a discussion with your present employer about your plans to resign. And when you do have that discussion, you should have already decided for yourself you are really going to resign because chances are, your present employer will probably give you a counteroffer if they really want you to stay. Do not ever use resigning as a means to get a leg up in being promoted because it puts you in

Looking for a new organization to join can be frightening if you do not know what to do. But understanding how to go about it can open doors to new opportunities your current employer cannot provide. You should not sacrifice your personal career goals to an organization that does not support them. a precarious condition where it will seem like you owe your employer for promoting you. If you are going to resign, make sure you have already made up your mind. It saves you from unnecessary strife and disagreements.

And while waiting for a job offer, do your work with the same amount of enthusiasm and diligence.

It will do you well to keep good connections with your current employer because you never know when you might encounter them again, especially if you are moving into the same industry. And even if it is a different industry, keep good connections.

I understood the significance of this when one of the organizations I wanted to join did a background investigation and old colleagues started messaging me, saying somebody had asked about me. It warmed my heart because they still remembered me and it also became an avenue for us to keep in touch. Because of that, a former colleague asked me to be a sponsor in her wedding. You never know when you will need people you have worked with. It pays to keep good relations.

And to transition to your new organization seamlessly, it would do you well for you to learn more about the organization. It will help you understand what you are getting into, and also temper your expectations and uncover possible opportunities for your career growth. By understanding the organization, you can also understand how your skill set can contribute to the success of the organization, and how you can ingrain yourself to be an invaluable asset to them.

Since there is still no formal job offer, continue with your job search. Just because an organization tells you they need you and they have indicated their eagerness to have you onboard, it does not mean anything until you are given a formal job offer.

As long as there is no offer, look for other options.

I almost stopped looking for other opportunities when a multinational company expressed interest in getting me. I went through the motions of being interviewed by four directors from different locations and placed all my hopes in them. It was serendipitous that other organizations pursued me because in the end, the multinational organization sent their regrets after two weeks. If I did not open my doors to other organizations, I would have started all over again.

If the anxiety is overwhelming, keep busy with activities you enjoy doing. You need to keep your mind off something you cannot control. After you have done everything you could, step back and do your hobby or get a new one. When you feel really distressed, talk to a trusted friend who can assure you and dispel your fears. Simply talking about your concerns to someone will help alleviate your fears and encourage you to look for other opportunities.

And when the job offer does come, be prepared to negotiate. Waiting for the job offer should give you time to prepare so you can take stock of your skills set for negotiating what you think is a fair and equitable compensation. Make sure you ask for the total benefits package and what you can expect from the organization. Their offer should be better than what you are currently receiving—in terms of financial remuneration, or your opportunities for career development. Either way, you have to be comfortable in what they are offering.

Looking for a new organization to join can be frightening if you do not know what to do. But understanding how to go about it can open doors to new opportunities your current employer cannot provide. You should not sacrifice your personal career goals to an organization that does not support them.

And while waiting for an organization to welcome you in, take the time to prepare yourself so you can give your best in your new job. n

BusinessMirror E1 | Wednesday, November 13, 2019 • Editor : Tet Andolong

CALISTA model house, PHirst Park Homes Pandi

PHIRST PARK HOMES BEEFS UP PRESENCE IN THE NORTH

By Rizal Raoul S. Reyes

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@brownindio

FTER three successful launches, PHirst Park Homes Inc. (PPHI), the affordable housing unit of Century Properties Group Inc. in partnership with Japanese conglomerate Mitsubishi Corp., is expanding to Northern Luzon with the launch of PHirst Park Homes Pandi, Bulacan.

“We are very excited to launch PHirst Park Homes Pandi in Bulacan, our maiden development north of Metro Manila and the fourth project under the PHirst brand. This gated residential project adopts modern architecture with numerous outdoor amenities at attainable price points, upholding our commitment to provide top-notch homes to first-time Filipino homebuyers as we continue expanding our footprint in Northern Luzon,” said Ricky Celis, president of PPHI. “Expansion is in the pipeline for PPHI because there are good markers in those areas,” Celis said referring to the company’s three earlier projects in Central Luzon.

The Pandi project has 11 hectares out of the planned 18 hectares, with an initial P1.6-billion inventory of the planned P2.9 billion in total sales revenues. Earlier, PHirst Park Homes achieved success in its first three communities in Tanza, Cavite; Lipa, Batangas; and San Pablo, Laguna, which has sold 3,800 homes valued at P6.4 billion as of August 2019. With the addition of the Pandi project, PHirst Park Homes’s footprint now covers 75.2 hectares and 7,908 units, worth P13.3 billion.

Located near the Pandi Munici-

UNNA model house, PHirst Park Homes, Pandi JOSE MARCO ANTONIO, Century Properties Group president and CEO

pal Hall and Immaculate Conception Parish, PHirst Park Homes Pandi is also accessible via the Santa Maria Pandi Road from the Bocaue or Balagtas exits of the North Luzon Expressway. Celis said the expansion will depend on demand and supply, infrastructure development and the capacity to pay. He said the demand is particularly felt in Metro Manila and the Cavite, Laguna, Batangas, Rizal and Quezon (Calabarzon) area. Meanwhile, he noted the infrastructure projects in Central

Luzon is going to be a big factor to attract buyers from other places to buy a property in Central Luzon mainly in Bulacan. He said the market of PHirst Park Homes will be the middle market segment who has a monthly income of P30,000 to P80,000.

Jose Marco Antonio, president and chief executive officer of CPGI, pointed out in his opening remarks that PHirst Park Homes has introduced new trend in affordable housing segment in the Philippines by integrating four virtues in all its developments.

Also known as 4C’s, each PPHI project can be described as Complete, Conceptive, Connected and

Convenient. “Since we are entering new decade, we are giving people living in this area to have their opportunity to have a new home,” he said. “PHirst Park Homes is becoming known in building communities that are a class of their own.

“Our homes are complete and move-in ready, we’ve introduced conceptive amenities that go beyond the basics, we are connected through Wi-fi zones and a community shuttle, and we offer convenient payment terms,” Celis said.

As the-first-of-its-kind residential community in Pandi, the project offers two-story modern designed homes, Unna single-attached and Calista townhouse cluster, with

floor areas of 40 square meters to 54 sq m,respectively. The price per house and lot starts at P1.3 million.

PHirst Park Homes Pandi will feature generous open spaces, bike lanes, bicycle racks and a jogging path. The central amenity area has free Wi-fi access, a clubhouse for events, lap pool, kiddie pool, shower room, outdoor basketball court and parking area. The gated community will have 24/7 security with installed CCTVs in public areas, shuttle service going to and from key retail establishments and transport terminals, and activity nodes that include table and life-size versions of popular board

games, such as Chess, Checkers, Chinese Checkers, Snakes & Ladders, and Tic Tac Toe. PPHI is not resting on its laurels as it aims to roll out 11 more out of 15 master-planned communities in the next four years to address the country’s reported housing backlog of 6.6 million. This year, PPHI will further expand in the growth areas of Calabarzon and Central Luzon.

For 2020, PPHI plans to roll out two to three projects to balance the developments in the north and the southern parts of Luzon.

“Clark is in the pipeline because it is currently undersupply,” Celis said.

Business

E2 Wednesday, November 13, 2019

STRONG DEMAND FOR OFFICE PROJECTS IN BGC’S OUTLYING KALAYAAN AREA

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S early as three years before project completion, office floors in prime Bonifacio Global City projects set for turnover in 2022 have already been leased out by eager tenants.

Pre-commitments like this and a vibrant residential, retail and restaurant scene are firm indicators of the Taguig business district’s sustained appeal.

Unsurprisingly, GSC Corporate Tower is drawing strong interest from professional services firms, medium and large firms, coworking spaces and multinationals. The 15-story Grade A building is one of only four BGC office projects set for completion in 2020. It topped off last October 10 and will be ready for occupancy in the first quarter of 2020. It is along Triangle Drive in the area near Kalayaan Avenue.

Despite the rise of other business districts in Metro Manila, BGC remains as one of the me-

THE 15-story GSC Corporate Tower in dynamic BGC is drawing strong interest from professional services firms, medium and large firms, coworking spaces and multinationals. It is one of only four BGC office projects set for completion in 2020.

tropolis’ top business destinations, according to Miguel Manipol, associate director of leading real-estate services firm Leechiu Property Consultants. Its strategic location and world-class master planning make it attractive to all businesses.

BGC boasts of a vibrant livework-play community that is ac-

tive up to the wee hours of the day. In addition to BGC’s city center which offers the broadest range of dining, retail and entertainment choices in the country, Triangle Drive near Kalayaan Avenue where GSC Corporate Tower is located, also has a lively retail and restaurant scene focused on the nearby Uptown Mall and the

stand-alone restaurants of popular casual dining brands.

In 2020, quicker access to and from BGC will be available through a new four-lane bridge set for completion by June next year. Through the BGC-Ortigas Center Link, the drive from BGC’s Eighth Avenue to Ortigas Center via Santa Monica Street in Kapi-

tolyo, Pasig, is estimated to only be 12 minutes.

Given all these developments, Yeli Camus, senior manager of Leechiu Property Consultants, expects spaces in GSC Corporate Tower to lease out quickly. It will offer a gross leasable area of just under 12,000 square meters and a typical floor plate of 1,300 sq m.

GSC’s exceptionally high 3-meter ceiling height will also offer natural light to occupiers through an all-glass façade. The building is named after Go Siok Chu, matriarch of the So family, who built an importation business and later ventured into foreign exchange and real estate despite being widowed early.

COMMUNITY

WORLD Vision Philippines executives with REX’s Senior Marketing Manager Randy Torrecampo.

REX with World Vision to help at several communities with literacy challenges

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NNUALLY, the country launches National Literacy Month in September, followed by the National Reading Month in November.

Together, these campaigns are called “Brigada Pagbasa,” and are launched as sustained projects with the hope of helping address the widening literacy gap in the Philippines, especially among young children of school age.

In partnership with the Department of Education and World Vision, REX has stepped up to the challenge of enhancing the reading skills and spreading the reading habit of Filipino children. The project is an extension of the Brigada Eskwela campaign, which promotes community participation in time for school opening, with groups and organizations, volunteering to help build and renovate schools from farflung places.

This time, with Brigada Pagbasa, REX and its partner, World Vision, will bring together experts, change makers, policy-makers, and other

stakeholders across all sectors from international and local agencies, as well as public and private organizations to spread reading literacy among Filipino children. Government agencies and organizations, such as the National Library of the Philippines and the National Book Development Board have also registered their support for the project. This year, radio host and TV personality Joyce Pring was chosen as the official ambassador for Brigada Pagbasa.

“Literacy, most especially among the children and youth, is one of the key factors that determines how well a country progresses in this rapidly changing world. We have an unfortunate reality where some Filipinos, both young and old, are still struggling with their literacy skills,” said Rommel Fuerte, executive director of World Vision in the Philippines.

Based on a report by the United Nations, the Philippines has the highest literacy rate at 97.95 percent among Southeast Asian countries such as Singapore, Brunei Darussalam

and Indonesia. The literacy rate is 98.9 percent among females and 97 percent among males aged 15 to 24.

While these data on literacy rates, the country’s improvement from the past years was minimal at best, and there remains a staggering number of children in the country who face literacy challenges. The remaining gap reflected in recent studies shows that more work is needed to address this pressing issue.

Brigada Pagbasa will fully commence this November at several communities across the Philippines to educate everyone with the value of reading.

As the country’s premier provider of holistic learning solutions, REX is committed to helping sustain holistic education and opening opportunities for transforming society. REX believes that, even from the most basic skills, such as reading and writing, our efforts, when put together, will continue to nurture young learners who will build our nation’s future today.

Reni Salvador

sMirror

Editor: Tet Andolong

E3

How to get the best value out of high-rise living in Ortigas COMMUNITY O RTIGAS Center echoes a dynamic and cosmopolitan vibe that attracts businesses, developments and individuals in pursuit of high-quality living.

It’s easy to see why residential condominiums are gracing the Ortigas skyline, offering modern vertical homes and the promise of a good life.

Faced with a wide array of options, choosing a condo in Ortigas necessitates discernment and a clear grasp of what provides true value and benefit. For prime real-estate developer, Federal Land Inc., creating value means ensuring that homebuyers get the most out of their choice and investment. This philosophy is salient in all Federal Land properties, especially in its latest offering, The Grand Midori Ortigas. This two-tower condominium is a sequel to The Grand Midori Makati, an award-winning development known for delivering high quality, beautiful homes with Japanese inspirations in design and construction.

Now, The Grand Midori Ortigas offers an opportunity to enjoy exceptional high-rise living in Ortigas. Here’s how getting a home in this property endows much value and benefit.

Strategic location. Ortigas Center

is an ideal place to live in with its proximity to business centers, retail and dining facilities, as well as medical and educational institutions.

What’s more exciting are the major developments happening soon that will elevate the experience of resid-

ing to your desired purpose. Each unit—the studio, one-bedroom, two bedroom, and three bedroom—feature airy and light-filled interiors, as well as expansive windows.

The price is right. Getting the best

ing in this progressive community.

Under way is the BGC-Ortigas Link, a four-lane bridge across Pasig River, connecting Santa Monica Street in Pasig City to Lawton Avenue in Makati City up to Bonifacio Global City. The 35-kilometer Metro Manila subway system, connecting Valenzuela and Parañaque, will have two stations in Ortigas.

Plans are also ongoing for the Ortigas Greenway Project, which features green elevated walkways linking Ortigas MRT station to SM Megamall, Shangri-La Plaza and Metrowalk District. The Walkway project aims to improve pedestrian experience by providing safe and comfortable access to various points in Ortigas CBD. The Grand Midori Ortigas is strategically situated in

Exchange Road, in front of the Philippine Stock Exchange Center, a prime location right at the center of the thriving Ortigas Center.

Efficient space planning. In choos-

ing a condo, size matters. It impacts your living space and the cost of your investment. But going for a unit with a better cut and layout gives more value for your money. For example, a big unit with a narrow layout and odd-shaped rooms can feel cramped compared to a smaller unit but with a wide and shallow layout that allows for favorable use of square footage. Understanding the value of form and function, the cut of all condo units in The Grand Midori Ortigas lets you maximize space and provides leeway to design it accord-

value means paying the price for quality, for meeting your specific purpose and enhancing the way you live. You’ll know the price is right if your chosen condo meets your needs, investment goals and life aspirations.

Priced at an average of P232,000 per square meter, The Grand Midori Ortigas is one of the most sought-after condominiums in Ortigas Center today for its numerous benefits that are attractive to business executives, retirees, students and families looking to upgrade their lifestyle.

Renowned Japanese architectural firm Tange Associates, designer of The Grand Midori Ortigas, has creatively incorporated Japanese values, workmanship, and aesthetics into the overall look and feel of the property. Zen-inspired indoor and outdoor amenities for social, fitness and recreational activities are beautifully integrated into the development, creating spaces where residents can lead meaningful and balanced lives.

Want to get the most out of an Ortigas lifestyle? Check out The Grand Midori Ortigas by visiting https://www.midori.com.ph, or call (+63)917-8221443 and e-mail at invest@federalland.ph. Artist’s perspective of The Grand Midori Ortigas zen garden.

Construction firm gives relief goods in Davao

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OLLOWING the destructive series of earthquakes that adversely affected the lives of Filipinos in Mindanao, China Road and Bridge Corp. (CRBC), a wellestablished contractor in the Philippines, conducted a distribution of relief goods to affected residents in Davao, on November 7, 2019.

CRBC Country Manager Ren Xiaopeng led his engineers in the sorting, portioning, packing, and distribution of the relief bags which contained rice, canned food, instant noodles and biscuits.

The distribution of relief bags was held at the Astorga Central Elementary School in Santa Cruz town, Davao.

CRBC has been operating in the country for over two decades. The construction firm has spearheaded many ADB, Jica, and even WB-funded rural roads and highways. They are now implementing a major package of the Central Luzon Link Expressway, connecting SCTEx to Nueva Ecija province. The firm is also constructing two grant bridges from the People’s Republic of China: one is the Intramuros to Binondo bridge; and the other, the Rockwell-Mandaluyong bridge.

CRBC is part of China Communications Construction Corp., the third-largest state-owned enterprise in China.

Entrepreneur BusinessMirror

E4 Wednesday, November 13, 2019 • Editor: Vittorio V. Vitug

Manila Chocolatier finds home at Kultura Filipino

By Roderick Abad

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By Manuel T. Cayon

Contributor

“Our chocolates bring you on a special journey,” said Raul D. Matias, chief executive officer of Latitude Twelve Chocolate Corp. “A journey that starts with your first bite.”

Last week’s official launch of Manila Chocolatier as the newest member of micro, small and medium enterprises supported by The SM Store-affiliated retail outlet was like a long travel he endured just to reach its current status.

In 2005, Matias started his own chocolate business in New York, with his erstwhile Machiavelli Chocolatier. Interestingly enough, while he was abroad, his love for all things Filipino prompted him to go back home and set up a local brand on his own.

“When I moved out and found myself in a foreign land, it was only then when I fully appreciated what it was to be a Filipino. I remembered idyllic afternoons in the farm and carabaos toiling the rice fields. I thought of women in their graceful ternos and men dashing in their barong tagalogs. I missed the sound of Philippine jeepneys, the enchanting lights of Metro Manila, the perfect sunsets and lazy days.

I missed the way my countrymen

smiled not just with their lips, but also with their eyes, smiles that genuinely come from the heart,” Matias recalled.

Machiavelli Manila, which also offers Pinoy flavors, started upon his return in 2014. It was carried by a posh department store. Prior to this, however, Matias collaborated with the Department of Tourism for the launch of “It’s More Fun in the Philippines” campaign in 2012.

Given the foreign name of his products, though, he decided to create another brand after Manila, which initially was not available in the mainstream market. It was only last year, however, when he finally sourced cacao beans from select farms in the Davao region that Manila Chocolatier came into being.

Matias is proud that “we used only the best cacao beans; the same beans exported to Europe and used by world-class European chocolate

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HEN LT&G Credit Line, a microlending company based in Bicol saw that their company was becoming instrumental to more small-scale businesses for sustenance and growth, its Chief Executive Officer Marco Antonio Soliman immediately thought that they needed to expand not only outside Bicol but across the nation.

With the help of Francorp, the worldwide leader in franchise development and consulting, LT&G Credit Line is currently making waves in the franchise industry because of its unique business concept—a credit line company offering just the right amount of interest for the company and the borrower to earn profit at the same time.

Established in 2013, the lending company has been the go-to of sarisari stores, eateries (locally called carinderias) and similar small businesses when funding or capital falls short and getting a loan from commercial banks is a hassle. Six year later, it became so successful that many potential investors are applying for its franchise.

RAUL D. MATIAS, Manila Chocolatier owner, poses for a souvenir shot on Tuesday, November 5, during the brand’s official launch at the Kultura Store in SM Megamall. NONOY LACZA

companies.” These are beans ground to silky perfection only when needed in the same facility where their products are processed, assuring the freshness of the products.

Apparently, his passion and love for his country, are translated into every flavor of Manila Chocolatier chocolates. Its mouthwatering Chocolate Pralines provides a delicate sublime flavors of the Philippine Islands, from bukayo, panotsa caramel, leche flan, buko pandan and Palawan honey to barako coffee and lambanog—each with design element that reflects the FIlipino culture.

Such locally branded confectionary, likewise, offers delectable white chocolate bars in calamansi and ube flavors; mango milk chocolate

Our chocolates bring you on a special journey. A journey that starts with your first bite.”—Matias

PROFIT from daily operations is what is keeping micro, small and medium enterprises, or MSMEs, running. Soliman knows this not only because he finished a business management course in college. He ran a motorcycle spare parts shop in his hometown for two years which, he believes, serves as his “master’s degree.”

Using the money he earned from working for a telecommunications company and from a loan from his mother, he opened the shop which only ran for two years. “I couldn’t compete with big players in our area,

so I had to close the shop eventually,” Soliman shared.

Soliman then went to study law and sought a career opportunity in two insurance companies. It was there that he was able to save up more money and build business connections at the same time. He was introduced to the sport of practical shooting which encouraged him to put up a gun store which he named Legazpi Trends and Gears, or LT&G. “The insurance company to which I am still connected with, offered me a loan which I used to put up my own building,” Soliman said. “I grabbed the opportunity and this is where I transferred the gun store along with a small café, a security agency and a trucking business [established with several business partners] and the first LT&G microlending firm.”

A business formed to help MSMEs

SEEING that his microlending business is doing good, Soliman consulted friends who are into the banking industry about another business to operate. A friend who is connected with Francorp brought up the idea of franchising for his gun store or café. But instead, he thought of applying the franchise suggestion to the microlending company which is a unique business concept that can also be franchised.

“At the back of my mind, I was thinking who would be interested to franchise when a lot of big banks and informal lenders have already saturated the market. My friends are discouraging me to pursue my idea of having it franchised, but I believe, given the right opportunity for the people to understand the benefits from the business and the science about it, many existing and would-be business owners will be interested,” Soliman said.

@awimailbox Mindanao Bureau Chief

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bars; dark chocolate bars in pili nut, barako coffeee and coconut flavors.

Completing the product lines is a variant made out of chocolate covered pili nuts.

“The uniqueness of my flavors, the types of recipe that I make and the types of cacao that I use” are the attributes that separate Manila Chocolatier from the competition, Matias told the BusinessMirror in an interview during their launch event.

Being a professional chocolatier, who is well-trained in Europe, the United States and Canada, makes him a standout to offer not only chocolate bars, but also pralines that most of his counterparts do not have.

“So that’s my edge, and having had a medical background, it helped me a lot on how to make recipes. Because making chocolate is a science, it helped me a lot on how to make a recipe that is safe, with minimal or no preservatives at all,” he stressed.

Microlending firm gains ground in franchising

The road to a microlending company

Taiwan brings 2nd global excellence expo to Davao City

@rodrik_28

OMEGROWN Manila Chocolatier is now available at select Kultura Filipino stores, bringing its world-class confectionery brand that boasts of authentic local flavors closer to Filipinos.

makeshift stand by the roadside.

After several loan renewals from LT&G, the seller now abides with DTI’s standards—the products are now neatly labeled and displayed inside a glass cabinet. Other businesses were mini-groceries now that were once sari-sari stores.

An evolving franchise SOLIMAN

Helping MSMEs grow ASIDE from the microlending firm earning the right amount of profit and its franchise model being able to provide jobs, Soliman said he is glad that the business is growing alongside its MSME clients. “We actually consider them partners, we want them to succeed in their business.

Our interest rate is very friendly. We know that if we charge more, they will not earn from their business,” Soliman shared.

The majority of LT&G microlending clients are sari-sari stores and eateries followed by similar small businesses like repair shops, vulcanizing shops, secondhand stores (ukay-ukay), water stations, among others.

“Our advantage is that we are offering a lower interest rate and we are a legal business compared to informal lenders,” Soliman added.

“With our business system, many of our borrowers are renewing their credit line several times over. Plus we see them grow their respective businesses which is the most rewarding part of our business,” he said.

His case in point was a pili nut vendor in Legazpi City who sold his products in a heat-sealed plastic pouched and displayed under a

SOLIMAN said the company is continuously evolving to be proactive on the risks involving such kind of business model. Each branch gets evaluated regularly to check on the risk-management measures. “We always try to find ways to minimize the risk vis a vis the acceptable budget,” he assured.

“Lending can be the best or the worse business,” he cautioned. “For us, we were able to study the science behind it. Qualifying the right borrowers is also a key factor,” he concluded.

With LT&G’s partnership with Francorp, the company is expecting for more franchise outlets opening across the country. From five branches, the company will be ending this year with 50 branches, 45 new branches are all franchiseowned.

Francorp Philippines is part of the worldwide network of Francorp International, a globally leading franchise development and consulting firm that has helped develop over 3,000 franchise businesses and assisted more than 10,000 companies worldwide in their franchise expansion.

To learn more about franchising your business and connecting them to aspiring franchisor, call (02) (+632) 634-05-86 or (+632) 634-3717, (+63917) 881-69-99, or e-mail franchising@ufranchiseasia.com or visit https://www.ufranchiseasia.com.

www.businessmirror.com.ph

AVA O C I T Y—Ta i w a n brought here last week its second main trade exposition in the Philippines in two years as part of an aggressive move to strengthen trade relations with several countries and seek out expanded trade ties with emerging cities.

Some 100 Taiwan exhibitors joined the exhibition to showcase their products and service that were already accorded with hallmarks of excellence by Taiwan government and other award-giving bodies.

It was held on November 8 and 9 at the SMX Convention Center here where Davao and other Philippine buyers browsed through their various offerings in technology, agriculture, design, medical care, education, and tourism. Taiwanese companies covered a wide range of categories, such as Smart City, Taiwan Lifestyle, Healthcare, Agriculture and Fisheries and Tourism.

Michael Peiyung Hsu, representative of Taipei Economic Office, told the audience during the opening ceremony that Taiwan “honors its most innovative products that provide tremendous value to consumers worldwide. All the products carrying Taiwan Excellence symbol have been selected for the Excellence Award based on their design, marketing and quality.”

He said Taiwan Expo 2019 “also promotes different Taiwan landmarks and tourist areas and that this would be a great platform to invite more people to visit Taiwan and witness the radiance and beauty of the heart of Asia.”

He cited the participation of Taiwan Healthcare, “which is much known for its excellent and high quality standard” and exhibitors of Taiwan agriculture and fisheries sectors.

Angelito T. Banayo, chairman of Manila Economic and Cultural Office, has noted Taiwan’s strength in agriculture and fisheries, saying that one province alone in Taiwan

was generating for the economy $2 billion of its agriculture and fisheries products exported to Hong Kong and Shanghai.

A statement released by Taiwan’s Ministry of Economic Affairs and the Taiwan External Trade Development Council (Taitra), the organizers of the expo, said the activity was the country’s “main platform for its companies to explore business opportunities with their counterparts in Southeast Asia and South Asia.”

“Taiwan Expo is at the forefront of being the country’s hallmark of development and innovation, and is key to the country’s New Southbound Policy launched in 2016 in a bid to lessen its dependence on China. As an alternative, Taiwan is seeking to improve relations with 18 countries, including the Philippines,” the statement said.

It said the expo was the first time to be held in Davao, an emerging city in the Philippines and the capital of Mindanao. “The Philippines is one of the fastest growing economies in Southeast Asia. Investments are flowing in, industries are booming. It is becoming the new economic powerhouse in Asean [Association of Southeast Asian Nations]” said Taitra Chairman James CF Huang during the expo’s opening ceremony attended by various government officials in both Taiwan and Davao.

The expo would allow Taiwan and Davao City to explore areas in agriculture and fisheries, two of Davao’s most important industries, “showing potential to become an innovation hub in various fields in this part of the country.”

Tourism was also a strong area for cooperation with the Philippines, Taiwan said.

“Since the launch of the visa waiver program in 2017, visitors from the Philippines to Taiwan have greatly increased. In 2018, visitor from the Philippines grew exponentially. The highest of all countries. Taiwanese tourists were the Philippines’s sixthlargest source of foreign tourists last year,” it added.

Filipino food makers seek China market

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HANGHAI, China—Filipino food manufacturers are participating in China’s biggest buying expo to seek opportunities in the world’s largest market.

More than 30 Filipino companies have been showcasing their products during the Second China International Import Expo (CIIE) at the National Exhibition and Convention Center here since November 5.

Filipino companies and organizations participating in this year’s CIIE include 22 Propack Asia Corp.; Agrinurture Inc.; Benvelle Corp.; B-G Fruits and Nuts Mfg. Corp.; Century Pacific Food Inc.; Eng Seng Food Products; Excellent Quality Goods Supply Co.; Filifresh International Trading; Fisher Farms Inc.; Fruits of Life Inc.; GSL Premium Food Export Corp.; Magicmelt Foods Inc.; Magsasakang Progresibo Marketing Cooperative; Mancoco Food Processing Inc.; Monde MY San Corp.; and Monde Nissin Corp.

Pasciolco Agriventures; Pearl Foods International Inc.; Phil.

Morinda Citrifolia Inc.; Philippine Franchise Association; Pixcel Transglobal Foods Inc.; Primex Coco Products Inc.; Roxas Sigma Agriventures Inc.; Saw Fine Foods International Ltd.; San Miguel Foods; SEE’S International Food Mfg. Corp.; SL Agrifood/Agritech Corp.; Team Asia Corp.; Trans Ocean Food Products, Inc.; Tropicana Food Products Inc.;

and WL Food Products also joined the buying expo.

The country’s food pavilion at the CIIE focuses on promoting healthier and more organic products amid the growing demand for health and wellness products in China.

In his visit to Shanghai last Tuesday, Trade Secretary Ramon Lopez said the Philippines needs to ramp up its manufacturing capacity if enterprises would like to tap the huge Chinese market.

“Now it’s up to us to have the domestic production capacity to be able to supply the requirements, because we all know China is a big population—1.4 billion—so when they order, the demand is always in big quantity,” Lopez said.

While improving exports to China, the trade chief said the Philippine government targets to attract more investments from Chinese businesses to set up their production facilities in the country.

“Since we lack the capacity, why not invest in the Philippines and produce that capacity,” Lopez said.

“That’s why we encourage companies to establish operations in the Philippines—iron and steel, metals, chemicals, auto parts, energy, infrastructure. It has an import substitution effect also. It will reduce our importation, at the same time there are other products that we can export to anywhere,” he said. PNA