BusinessMirror November 19, 2019 by BusinessMirror

PALACE CLARIFIES: RICE IMPORTS TO GO ON

A worker carries a sack of imported rice at a warehouse in Divisoria, Manila, on Monday. Malacañang officials said there is no order yet for the Department of Agriculture to suspend the importation of rice during the harvest season, as calls mounted for such following reports of multibillion-peso income losses to local farmers.

By Samuel P. Medenilla @sam_medenilla

HE prevailing liberalized rice importation regime will continue for now, Malacañang clarified on Monday, amid mounting calls for a halt to importation after the losses to local farmers were reported to have surged beyond the worst forecasts, with one study putting it at over P60 billion. In a statement, Presidential Spokesman Salvador S. Panelo said President Duterte has yet to issue an official order to the Department of Agriculture (DA) to cease the nonquota purchase of rice abroad under the rice trade liberalization (RTL) law, which took effect in March. “As for this time, there is no order to stop rice importation given the Secretary

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[William] Dar of the Department of Agriculture per the latter,” Panelo said. He issued the pronouncement after GMA News came out with a report that Duterte had already “ordered the suspension of rice importation” to help local farmers, who are now forced to sell their rice at rock-bottom prices as imported rice flood the market. “We have no knowledge of this,” Dar told the BusinessMirror in a phone interview, referring to the report of the supposed haltimports order posted by other media. Dar declined to comment further as he awaits further instruction from Duterte on the matter. Rice farmers have been appealing for government intervention as they suffer significant loses because of the effect of the RTL. The BusinessMirror earlier reported that

Tuesday, November 19, 2019 Vol. 15 No. 40

PHL rises in talent index but trails peers in Asean

By Cai U. Ordinario

@caiordinario

HE Philippines improved its ranking by six notches in the International Institute for Management Development (IMD) World Talent Rankings (WTR) in 2019.

The country was considered one of the biggest “climbers” in the ranking as it improved its position to 49th out of 63 countries in 2019 from 55th in 2018. However, the country remained the laggard among its Asean peers as Singapore, Malaysia, Indonesia

and Thailand took the 10th, 22nd, 41st, and 43rd spot in this year’s ranking. “The WTR ranks countries based on their ability to attract, develop, and retain a talented pool of human resources that businesses can employ,” IMD and its Philippine part-

ner, Asian Institute of Management (AIM) RSN Policy Center for Competitiveness, said in a statement. The 2019 edition ranked countries using 32 criteria grouped into three factors—Investment and Development, Appeal, and Readiness. The Philippines improved its

$376 (₧18,800) The Philippines’s total public investment per student—a low level that made it rank poorly in this aspect of the global talent index, at 61st out of 63 countries, despite rising six notches overall

ranking in all three factors. However, the factor where the country has consistently been a poor performer is Investment and Development. The factor measures the level of investment in and development of domestic, homegrown human resources. This year, the country ranked 61st out of 63 countries. “This represents a one-place improvement from 2018, but this factor has consistently ranked in the 60s,” IMD-AIM said. See “Talent index,” A2

the Philippine Rice Research Institute (PhilRice) estimated farmers lost P61.77 billion because of the steep decline in farm-gate prices for rice. While such losses had been foreseen by the RTL authors—and provisions were made for a P10-billion Rice Competitiveness Enhancement Fund (RCEF) to cushion the impact—the deep cuts in farmers’ incomes were apparently not expected. This was compounded by claims in some quarters that the expected tradeoff, i.e., the general public can benefit from much cheaper rice as those from other countries enter the local market, is not happening as expected. There are observations that retail rice prices have not declined, while local farmers incomes plunged from record-low farm-gate quotations for palay.

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MWSS APPROVES WAWA BULK WATER PROJECT By VG Cabuag @villygc

HE group of billionaire Enrique Razon and Oscar Violago on Monday said regulator Metropolitan Waterworks and Sewerage System (MWSS) has approved their Wawa Bulk Water Supply Project. The final approval of the remaining documents, which authorized MWSS Administrator Emmanuel Salamat to sign on behalf of the agency, was made during the MWSS Board of Trustees meeting held on November 14, the company said. The Wawa joint venture project is between Razon’s Prime Infra and businessman Oscar Violago’s San Lorenzo Ruiz Builders Group. “As promised to the public, the board has already given its Final Approval for the Wawa Bulk Water Project. This is good news for everyone, not only for the proponents and stakeholders, but more importantly for the MWSS consumers. This will ensure water security for

@joveemarie

GROUP of far mers on Monday called on the government for an additional palay procurement and price support as the impact of the rice tariffication law (RTL) appeared to have been underestimated. The National Movement for Food Sovereignty (NMFS) expressed its dismay on the termination of the process of studying the imposition of safeguard duties on imported rice, the surge rice imports in the country, and the continuous plummeting of palay farm-gate prices. Trinidad Domingo, chairman of Katipunan ng Bagong Pilipina (Kabapa) and co-convenor of the NMFS, said the National Food Authority (NFA) must be provided with an additional budget for palay procurement in order to bring back the P20 per kg price support. “The government should have increased the palay procurement capacity of NFA in order for the agency to absorb at the minimum 10 percent of the country’s palay production,” she said. Also, Domingo said the NFA should be provided with more warehouses and dryers. According to Domingo, NFA warehouses in Central Luzon cannot accommodate all of the farmers trying to sell their palay.

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“This leaves farmers no choice but to sell their produce to rice traders at a lower price. NFA buys dried palay at P19 per kg, while traders buy them for as low as P10 to P12/ kg,” she said. “Moreover, the NFA cannot accept wet palay as they do not have enough dryers to dry all of the wet palay brought to them for sale. This also leaves farmers the option to sell at as low as P7 to P12 per kg to traders,” Domingo added. NMFS wants Congress to immediately repeal the RTL, which took effect in March 2019, to protect the livelihood of 2.4 million rice farmers in the country. “As it is still harvest time, palay prices have already dived down to as low as P7 per kg in some parts of Central Luzon,” the group said. The group has demanded that the rice importation be halted immediately and implementation of the RTL be suspended while palay harvests are ongoing.

DOF, DA: No to repeal or revision

Last week, the Department of Finance (DOF) and the Department of Agriculture (DA), however, said “there is no inclination to repeal, revise, or suspend” the RTL. The government agencies said the current situation of the rice industry merely constitutes “shortterm transition challenges” and See “Farmers,” A2

See “MWSS,” A2

NGCP: Grid facilities ready for storm

Farmers seek more funds for price support, hit RTL By Jovee Marie N. dela Cruz

the greater Metro Manila area in the coming years,” MWWS Chairman Reynaldo Velasco said. The approval came after a favorable opinion given by the Office of the Government Corporate Counsel on November 7. This approval is the remaining document to make the project fully effective and enable the project proponent to proceed in the development work, Prime Infra said. “I would like to assure the public that MWSS is doing everything in its power to address the current water crisis. We are committed to make sure that we have enough supply to meet the demands of the growing population in Metro Manila. I am sure the other government agencies who are mandated to issue permits will follow suit as this is a priority project to solve the water crisis,” Velasco said. The Wawa Dam Project will supply 80 million liters per day of water in 2021 and more than 500 MLD in 2025.

BIGGEST LANTERN OF HOPE Children get their early Christmas gifts from Santa Claus as SM City Pampanga kicks off the first night of its “Biggest Lantern of Hope” campaign. More than 25,000 shoppers joined in the much-awaited celebration, where the tallest ferris wheel in the country transformed into a giant lantern of colorful lights and sparkles in sync with the most-loved Christmas melodies. CONTRIBUTED PHOTO

‘ERC’s year-end approval of PSA to lower power cost’ By Lenie Lectura @llectura

HE Energy Regulatory Commission (ERC) is expected to approve some of the pending powersupply agreements (PSA) applications next month. According to Victor Dimagiba, president of consumer advocate Laban Konsyumer Inc. (LKI), ERC Commissioner

Catherine Maceda, in a public consultation, had committed to the approval of the PSAs within the year. “This is encouraging news hearing that the ERC will already act on the PSAs within the year, because this will mean additional power capacity to the grid as soon as possible. “We hope that ERC will live up to its promise and commitment to already act on the PSAs and approve this

much-needed capacity for the grid. The supply is important because this will mean reliable power at low costs,” said Dimagiba. If the PSAs are approved as soon as possible, such will mitigate increases in spot market prices as this would ensure entry of additional supply and reliable operation of power plants. “That is why we must fast-track the PSA approval,” said Dimagiba. See “ERC,” A8

HE National Grid Corp. of the Philippines (NGCP) said Monday that it has implemented the necessary preparations and precautions to minimize the impact of Tropical Storm Ramon on transmission operations and facilities. Preparations included ensuring the reliability of communications equipment, availability of hardware materials and supplies necessary for the repair of damages to facilities, as well as the positioning of line crews in strategic areas, to facilitate immediate restoration work. NGCP’s Integrated Disaster Action Plan (IDAP) prescribes these and other procedures to ensure the readiness of all power transmission facilities expected to be affected by the passage of the weather disturbance. Meanwhile, Solar Philippines Tarlac Corp. (SPTC) was allowed to connect its 100-megawatt (MW) solar farm to the Concepcion substation of the NGCP via the construction of a new transmission line. The Energy Regulatory Commission approved the transmission project provided that NGCP will operate the dedicated transmission facility. Lenie Lectura

US 50.5920 n japan 0.4650 n UK 65.3547 n HK 6.4652 n CHINA 7.2200 n singapore 37.1973 n australia 34.4683 n EU 55.9193 n SAUDI arabia 13.4919

Source: BSP (18 November 2019 )

News

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A2 Tuesday, November 19, 2019

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IMF: PHL growth still stellar despite rough H1

By Bianca Cuaresma

@BcuaresmaBM

HE International Monetary Fund (IMF) believes the Philippines will still emerge as one of the “best-performing” economies in the region despite the dismal expansion posted in the first half of the year. Following the Philippines’s annual economic checkup from the IMF via its Article IV consultation this year, the global monetary authority expressed optimism that the local economy is on its way to

regain traction after the first half slump in growth. “The Philippines remains one of the best-performing economies in the region. After a soft patch in the first half of the year, economic

growth is now recovering. Inflation has declined, reflecting lower oil prices, rice tariffication, and a decisive monetary policy response to the inflation spike in 2018,” IMF Article IV Consultation team leader Thomas Helbing said. Local economic growth slumped to 5.6 percent in the first half of the year, after several quarters of an above 6-percent growth. This number is below the government’s 2019 average target growth rate of 6 to 7 percent. Most of the weakness came from the government’s inability to pass a budget on time, thereby hampering public spending and infrastructure rollout during the period. Despite the optimism, the IMF believes the Philippines will miss the government’s annual target, forecasting a growth of 5.7 percent

Prudent macroeconomic management and a strong structural reform momentum have made the Philippine economy more resilient, reinforced growth and helped to reduce poverty.”—Helbing on average for the year. Helbing said this is projected to climb back to 6.3 percent in 2020 as government spending increases and monetary policy eases. “The medium-term economic outlook remains favorable, especially if the strong structural reform momentum continues,” Helbing said. “Prudent macroeconomic management and a strong structural reform momentum have made the

‘Use unspent P3-B NHA fund in quake areas’ C

ONGRESS was asked to realign P3 billion of the unspent funds of the National Housing Authority (NHA) from its 2018 budget for “housing and rehabilitation” projects to “swiftly respond to the infrastructure needs of displaced earthquake victims” in Mindanao. Sen. Risa Hontiveros pressed for the unused fund realignment during the plenary deliberations on the proposed 2020 national budget bill as lawmakers deliberated the annual funding for government’s key shelter agencies. Hontiveros cited, for instance, the “very low budget utilization rates” of the NHA and the Social Housing Finance Corp. based on findings by the

Department of Budget and Management (DBM). The senator took the floor to manifest concern over unspent funds in the national budget even as key sectors scrounge for funding to bankroll urgently needed projects and public services. Seeking swift government response, she cited DBM findings that the NHA has yet to obligate “P3 billion worth of unspent funds from 2018 and before to housing and rehabilitation.” Hontiveros asserted, “We don’t want these funds to go stale, so it’s better that they be dedicated to the most urgent needs. Because of the damage wrought by the earthquake

Ninja cops. . .

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Albayalde also denied that he had direct control and supervision over the questionable drug raid conducted by the team led by Police Supt. Rodney Raymundo Baloyo IV and his 12 men on November 23, 2013. T he D O J d i s missed the case in May 2014, but opted to reopen it following the recent Senate Blue Ribbon Committee investigation, which also prompted A lbayalde to step down from his post as PNP chief. The PNP- CIDG submitted an

in many parts of Mindanao, it’s best for government to set aside additional funds for shelter and the rehabilitation of infrastructure in Mindanao,” the senator stressed. Hontiveros added in a mix of English and Filipino, “this is where the government should put flesh to its “Build, Build, Build” rhetoric. The areas damaged by the quakes should be models for decent shelter.” The senator stressed that“new and better ways of doing things” should be seriously considered by housing authorities in order to “increase the absorptive capacity of the housing sector,” adding that the Duterte administration “should not limit its options when it comes to providing poor

amended complaint before the DOJ to include Albayalde as one of the respondents. Aside from Albayalde, subject of the re-investigation of the DOJ are Baloyo IV, Senior Inspector Joven de Guzman Jr., Senior Police Officer 1 Jules Maniago, SPO1 Donald Roque, SPO1 Rondalo Santos, SPO1 Rommel Muñoz Vital, SPO1 Eligio Valeroso, Police Officer 3 Dindo Dizon, PO3 Gilbert de Vera, PO3 Encarnacion Guerrero Jr., PO2 Anthony Loleng Lacsamana and PO3 Dante Dizon. The reopening of the case was an offshoot of the Senate investigation on the implementation of the good conduct time allowance (GCTA) for convicted felons, where one of the resource persons, former CIDG chief Benjamin Magalong, yielded information related to the 2013 illegal-drug trade by Albayalde’s men. In its amended complaint, the PNP-CIDG included A lbayalde’s name among the respon-

and homeless families with decent and affordable housing.” She suggested linking up and identifying possible partnerships with public and private institutions “willing and able to help our people,” and prodded authorities concerned to explore potential partnership between local government units and private developers. “Local governments have been formulating their Local Shelter Plans for years but they have not been matched with resources,” said Hontiveros, even as she noted that “both the NHA and the Pag-IBIG or Home Development Mutual Fund have in fact entered into public-private partnerships [PPP].” Butch Fernandez

dents in the complaint for violation of 27 of Republic Act 9165, or the Comprehensive Dangerous Drugs Act of 2002 (criminal liability of a public officer or employee for misappropriation, misapplication or failure to account for the confiscated or surrendered dangerous drugs); and Section 3, paragraph (3) of Republic Act 3019, or the Anti-Graft and Corrupt Practices Act. Complaints for violating Section 29 (planting of evidence), Section 32 (violating any regulation issued by the board); Section 92 of Article 11 (delay and bungling in the prosecution of drug cases); and Article 211-A of the Revised Penal Code (qualified bribery) were filed against the 13 original respondents, excluding Albayalde. For Albayalde alone, the CIDG filed a complaint of one count of violation of Article 171 of the RPC, violation of Article 208 of the RPC for his alleged refusal to institute prosecution for the punishment of violators of the law or for tolerating the commission of the said offenses, and violation of Section 3 (a) of R.A. 3019 for persuading or influencing another public officer to perform an act constituting violation of rules and regulations. “Complainant again attempts to implicate me, by mere association, and by merely jumping to the conclusion without any factual basis that I had ‘direct control and supervision over PSupt. Baloyo and his team’ and make me answer for the purported acts of other individuals, which is contrary to the fundamental principle that criminal responsibility is personal and that in the absence of conspiracy, one cannot be held criminally liable for the act or default of another,” Albayalde said.

Farmers. . .

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that the law should be given a chance to be implemented properly. Manuel Rosario, chairman of the Pambansang Katipunan ng mga Samahan sa Kanayunan (PKSK) and coconvenor of NMFS, said: “Recently, rice farmers have been having a hard time due to the drastic lowering of palay prices. “If we would have to wait longer in order to give the law a chance, what would happen to our farmers? What if in the next two years of waiting, there will barely be any farmers who will continue farming because they will only incur losses? The government can’t even give immediate and proper support to the farmers.” Rosario stressed the need to revisit the law as soon as possible. According to him, now that the safeguard measures have not been put in place, and the Philippines is now the No. 1 rice importer in the world, it is time for the law to be reviewed, suspended and, eventually, repealed. He said the RTL should be replaced with a better piece of legislation that actually focuses on strengthening the state support for the rice industry and reinforcing intervention in the rice trade and palay procurement.

Philippine economy more resilient, reinforced growth, and helped to reduce poverty. The IMF will continue to cooperate with the authorities in their efforts to achieve their development goals— through policy dialogue and support for the development of economic analysis and policy capacity,” the IMF official further said. Risks to the Philippines’s growth outlook, however, are titled to the downside, the IMF said as near-term

Talent index. . . Continued from A1

“Its low rank was mostly driven by pupil-teacher ratio in primary and secondary education and public expenditure on education per student,” it added. Based on the report, the Philippines ranked poorly in total public expenditure on education per student at 61st. The data showed the total public investment was only at $376 or P18,800 per student. Further, the poor performance in this factor was contributed by pupilteacher ratio (primary education) where the country ranked 59th; pupilteacher ratio (secondary education), 57th; and government expenditure on education per student, 56th. For primary education, the pupilteacher ratio in the country was 29.08, while for secondary, it was 23.88. Data also showed the total government spending on education per student as a percentage of GDP is only 10.1 percent.

Appeal

Meanwhile, in terms of appeal, the country’s performance improved to 31st in 2019 from 38th in 2018. IMD and AIM defined appeal as the measure of the country’s ability to attract and retain high-quality human resources from abroad. The country ranked the highest in terms of effective personal income tax rate at eighth overall and the cost-ofliving index at 15th overall. The indicator with the lowest ranking under appeal was quality of life at 49th; justice, 48th; and brain drain, 47th.

High in ‘readiness’

Meanwhile, the country ranked the highest in Readiness at 26th overall in 2019 from 37th in 2018. In terms of readiness, the quality and growth of the existing talent pool in the economy, the country ranked the highest in skilled labor, 3rd; graduates in sciences, thirteenth; and language skills, 16th overall. The lowest indicator is student mo-

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16 Mi-17 medium-lift helicopters worth P12.5 billion to the Philippine Air Force, with another unit of a helicopter given for free as a “sweetener.” A statement from the US Embassy about Esper’s visit to Manila said the US defense chief will be in the country to “reaffirm the steadfast and enduring US-Philippine alliance.” Earlier, Director Arsenio Andolong, also the spokesman of the Department of National Defense,

MWSS. . .

Continued from A1

Razon’s group earlier warned that further delays in the project will aggravate the water situation in Metro Manila, whose main source of water is still the La Mesa Dam. Prime Infra recently signed a memorandum of understanding with Manila Water Co. to cooperate in the possible development of

rebound in its gross domestic product (GDP) growth could be weaker than expected because of global trade tensions and related policy uncertainty, a change in global financial conditions, and natural disasters. On the upside, the IMF said structural reform progress and infrastructure improvements could further boost confidence and growth. Helbing also said the Philippines has space for an expansionary macroeconomic policy response should downside risks materialize, and that the recent cuts in the Bangko Sentral ng Pilipinas’s policy rate are appropriate for achieving the inflation target in the next one to two years, barring any unforeseen events. IMF projects inflation to average 1.6 percent by end-2019 and at 3 percent by the end of 2020.

bility inbound, which is the number of foreign tertiary-level students per 1,000 inhabitants. The country ranked 56th overall. “Most leading economies emphasize long-term talent development by focusing on investment and development. This emphasis, however, goes beyond purely academic aspects to encompass the effective implementation of apprenticeships and employee training. Such an approach ensures a consistent alignment between talent demand and supply,” said Professor Arturo Bris, director of the IMD World Competitiveness Center. The sixth edition of the IMD World Talent Ranking had Switzerland at top place overall, and placed Denmark in second and Sweden, up five spots, in third. The top 10 was completed by Austria (4th), Luxembourg (5th), Norway (6th), Iceland (7th), Finland (8th), the Netherlands (9th) and Singapore (10th). The top of the ranking is dominated by small and mid-sized European countries. These economies all share strong levels of investment in education and a high quality of life. With the exception of Estonia and Lithuania, eastern European economies placed in the lower half of the ranking. Outside the top 10, the biggest climbers were Taiwan, China (20th), Lithuania (28th), Philippines (49th) and Colombia (54th). According to the ranking, Switzerland leads the world in the “appeal”’ factor and in areas, such as apprenticeships, health infrastructure, remuneration, attracting highly skilled foreign workers, and university and management education. Denmark is the world’s leading economy for “investment and development,” while Singapore—the only non-European nation in the top 10 —scores highest globally for talent “readiness.” In the Philippines, the WTR is a publication of the IMD with the Asian Institute of Management RSN Policy Center for Competitiveness as its Philippine partner.It is an offshoot publication of the World Competitiveness Yearbook (WCY).

said that while no specifics have been given yet as to the focus of the discussion between Esper and Lorenzana, they were expecting that it would include the South China issue since it falls under defense and security. Another issue expected to be tackled is terrorism. The US has been a principal ally and benefactor of the Philippines in its counterterrorism efforts against groups in Mindanao, including the Islamic State and its local allied groups. The two leaders are also expected to discuss the core issue of defense and security, which are at the center of the US-Philippine alliance. the Wawa Bulk Water Supply Project. The agreement formalizes the formation of a technical team to conduct a technical study, which shall be reviewed and approved by regulator MWSS, the company said. “This is not an immediate fix, but rather a medium- to long-term solution. Yet, our project is one of the fastest and most sustainable ways to solve this current water crisis. If we don’t act now, this will be a recurring problem,” Razon said earlier.

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briefs PARAÑAQUE LGU WORKERS RECEIVE CHRISTMAS BONUS

STARTING November 19, the highly anticipated holiday financial perks will be distributed to all employees of the local government unit of Parañaque City. Mayor Edwin Olivarez announced the giving of annual Christmas bonuses, for regular, casual, job order workers and even public servants serving the barangays. All regular and casual workers, on the other hand, will receive their 13th and 14th month bonuses equal to their monthly salary starting next week until December 15. According to City Treasurer Anthony Pulmano, the P5,000 cash gift and productivity will be given to all regular and casual workers. In addition, job order workers will also receive a P5,000 cash present. Roderick Abad

LAWMAKER URGES D.O.H. TO DEFER VACCINE BIDDING

A PARTY-LIST lawmaker has called on the Department of Health to open a competitive bidding procedure for P4.9-billion pneumococcal conjugal vaccines. Assistant Majority Leader Niña Taduran of ACT-CIS issued the statement after the DOH decided to postpone the auction for pneumococcal conjugal vaccines after only one bidder showed up for the bidding. “An open competitive bidding procedure will give better options for the government in procuring the said vaccines,” she said. “We don’t want to have another rushed procurement of vaccines which could be a source of corruption. It is also vital to study the technical aspects of the procurement before proceeding with the purchase,” added Taduran. Jovee Marie N. Dela Cruz

CIMATU ORDERS SPEEDY IFMA ‘ENCROACHMENT’ PROBE

ENVIRONMENT Secretary Roy A. Cimatu has ordered legal experts of the Department of Environment and Natural Resources (DENR) to fast-track the investigation of the Integrated Forest Management Agreement (Ifma) of M&S Co. which operates a vast coffee plantation in South Cotabato and Sultan Kudarat. Cimatu has ordered the DENR’s Legal Department to create a fact-finding team that will look into the controversial Ifma case that stemmed from the alleged encroachment of M&S Co.’s Dawang Coffee Plantation on the ancestral domain of the T’boli-Manobo S’daf Claimants Organization. The DENR chief assured that under his watch, the DENR is giving priority to the right of Indigenous People, belying allegations that he had “neglected his duty” in failing to act with dispatch on the complaint that landed on his desk last July. Jonathan L. Mayuga

BusinessMirror

Editor: Vittorio V. Vitug • Tuesday, November 19, 2019 A3

PNP upgrades firepower with acquisition of P3B worth of guns, choppers, UAVs

By Rene Acosta

@reneacostaBM

HE Philippine National Police (PNP) has procured P3 billion worth of firearms and other equipment that include five helicopters, which, it said, would boost its operational needs from the general headquarters down to the municipal police stations. The equipment were blessed on Monday at Camp Crame witnessed by top police officials, in-

cluding PNP Officer in Charge Lt. Gen. Archie Francisco Gamboa. Among the equipment that were

procured were a Bell 429 twin engine helicopter, two units of Bell H125 single engine helicopter, two units of R44 training helicopters, 21 units K9 patrol vehicles and 34 units of brand new utility trucks. It also included 2,001 pieces of Taurus 9mm Striker pistols, 6,353 pieces of Tisas 9mm Striker pistols, 10,000 pieces of Canik 9mm Striker pistols, 21,992 pieces of Galil 5.56mm assault rifles, 1,677 pieces of K2C1 5.56mm assault rifle and 205 pieces of K3 5.56mm light machine guns. Likewise, the equipment included eight pieces of NEGEV7 5.56mm light machine guns, 141 pieces of NEGEV5 7.62mm light machine

guns, 51 pieces of rotary blade/propelled wing UAV and 7,924 pieces of Enhanced Combat Helmets Level III. Maj. Gen. Jose Maria Victor Ramos, chairman of the PNP Bids and Awards Committee, said the equipment with a total worth of P3,030,928,724 were acquired through the PNP’s Capability Enhancement Program for 2012 to 2016, 2018 and 2019, and Regular Agency Fund 2018, Presidential Contingency Fund and APEC 2015 money. Gamboa said the procurement of the PNP logistical needs was a part of the organization to enhance its firepower, mobility and the tactical capabilities of PNP operating units.

Atienza: Probe deeper into operations of illegal couriers, freight forwarders By Jovee Marie N. Dela Cruz @joveemarie

PARTY-LIST lawmaker has filed a resolution directing the House of Representatives to look into the proliferation of unregulated couriers allegedly being used by unscrupulous individuals for illicit activities. In filing House Resolution 481, entitled “A Resolution Urging the House of Representatives of the Philippines to Call for an Inquiry in Aid

of Legislation, Into The Proliferation of Unregulated Courier Operators,” Buhay Rep. Lito Atienza urged his colleagues to look into the operations of unregistered couriers which could pose risks to the public. According to Atienza, there is a need to craft a law to regulate the courier services in the country in order to protect the consumers and legitimate players in the industry. “The rapid growth of e-commerce resulted to the rise of the demand for courier and freight

forwarding services, which started sprouting like mushrooms,” he said. Under the resolution, these unlicensed couriers include small players like those catering to ondemand delivery, which can be availed of by simply downloading their apps on smartphones. Atienza said a check with the list of couriers accredited by the Department of Information and Communications Technology reveals not one of the aforementioned couriers possess any

accreditation from the Postal Regulations Division of the DICT. “The DICT revealed that modern information and communications technology are being used by unscrupulous foreign couriers that has placed legitimate freight and courier services companies in an unfair situation of competing against unregulated and fly-by-night operation,” he added. Atienza cited the Quiapo explosion in May 2017, which was traced to a package sent and carried by a TNVS driver to its consignee.

A4 Tuesday, November 19, 2019 • Editor: Vittorio V. Vitug

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Metro Manila wage board sets Can we rise to tomorrow’s ‘kasambahay’ pay hike review corruption challenges? By Samuel P. Medenilla @sam_medenilla

OUSEHOLD service workers (HSW), or kasambahays, in Metro Manila may soon get additional pay increase. The Regional Tripartite Wages and Productivity Board-National Capital Region (RTWPB-NCR) is now in its final leg of processing the possible wage hike for HSWs within its jurisdiction. The board is now set to deliberate if it will approve the new wage adjustment covering HSWs. This after it finally concluded that it is necessary to hold public hearings

for the wage review on November 8, where it met with representatives from labor and management. Prior to that, the RTWPB-NCR had already completed the necessary stakeholder consultations. “The board assured that in the upcoming wage review and deliberations, all concerns and interests of domestic workers and their employers will be taken into consideration,” RTWPB-NCR said in a news statement issued on Monday. “Consequently, the board will also exhaust all means to capture all relevant and economically feasible standards, or criteria, and maintain balance to safeguard the interest of both

SBMA starts ₧442.7-million project to relink Subic, Olongapo biz areas

By Henry Empeño | Correspondent

UBIC BAY FREEPORT—Work has started on a P442.7-million project to replace a US Navy-era bridge linking the central business districts of the Subic Bay Freeport and the neighboring Olongapo City, 10 years after the concrete span was closed to vehicular traffic due to deterioration. The Subic Bay Metropolitan Authority (SBMA) announced on

Monday the start of the Magsaysay Bridge project that will involve building a four-lane span to replace the existing bridge at the Freeport’s main gate, as well as improving security facilities, and upgrading road network, drainage structures and signage in the immediate area. SBMA Chairman and Administrator Wilma T. Eisma said the project would improve access and mobility, revitalize business in the

we live in—including corruption and its many forms. By 2022, 60 percent of the world’s gross domestic product (GDP) is forecast to be digitized. Already today, 7 of the 10 largest companies in the world are technology firms. A decade ago, only one tech company made the top-10 list.

domestic workers and employers in the metropolitan [area],” it added. The last wage hike for HSWs in NCR took effect on December 16, 2017, which raised their monthly minimumwage rates to 3,500 from P2,500. Minimum-wage rates for HSWs nationwide was first regulated with the passage of Republic Act 10361, otherwise known as Domestic Workers Act, or Batas Kasambahay, in 2013. Last September, the BusinessMirror reported no less than Secretary Silvestre H. Bello III ordered the RTWPB-NCR and other regional wage boards to review their respective minimum-wage rates for HSWs.

area and generate more opportunities for local livelihood. It is expected to be finished by the first quarter of 2021. “Aside from improving accessibility to the Subic Bay Freeport because this connects to the main artery in Olongapo, which is the Magsaysay Drive and RizalAvenue,thisprojectalsotakesinto consideration public safety and convenience because the bridge is heavy in foot traffic,” Eisma pointed out.

Can we rise to the challenges?

LOOKING at the state of the world and the trends that will drive corruption in the future, it is easy to get discouraged. These big trends suggest that the fight for integrity and accountability is going to be harder and more complex, and that it will require new approaches and new actors. But there are also causes for optimism that the battle for a world free of corruption can be won. There is a platform for progress and those working in the field identified four main reasons to be optimistic about the long-term future of the fight against corruption:

By Henry J. Schumacher

PEAKING to corruption fighters and experts in the field, there are many reasons for concern when it comes to the developments that will shape corruption in the future. From the rise of populism to the disruptive force of technology, one thing seems clear: the world of (anti-) corruption will get messier. A small change in one area can trigger far-reaching change in other areas shaping corruption, and thus affect the fight against it. Four key challenges are identified that will shape the world of (anti-) corruption in the future: Growing pressure on freedom and democracy Rising inequality and populism Continued fragmentation of global power Growing challenges of technology.

Growing pressure on freedom and democracy

MORE countries have experienced a decline in freedom than have experienced an improvement. Rule of law, freedom of expression and democratic electoral processes have been significantly challenged.

The rich are getting richer. What about the rest? THE world is facing exceptional levels of inequality. In 2017, the richest 1 percent of the world owned 50 percent of global wealth. By 2030, this share of global wealth could grow to 64 percent, according to research by the UK House of Commons Library. Many experts and practitioners suggest that this rising inequality will lead to growing corruption risks, as they see it as contributing to unequal access to power and influence for private gain. Rising wealth inequality is also seen by many experts as a root cause for low levels of trust in governments.

Diffuse power, contested power

1.8 BILLION people across the world currently live in fragile contexts facing conflict and violence, and the Organisation for Economic Co-operation and Development (OECD) expects this number to rise to 2.3 billion by 2030. Fragile states lack effective checks and balances, and can be prone to corruption by those in power. Ushering integrity in those contexts will be very challenging since strong and stable institutions are lacking.

Tech—a wild card, not a silver bullet

TECHNOLOGY will continue to transform the world

1) Corruption is now on the agenda Today, people across the world are much more aware of corruption and its destructive impact. Asking experts how the fight against it has changed over the last decades, the conversation quickly turns to how much the narrative has shifted. This is reflected in the political debate. Nearly every country in the world is now part of the UN Convention Against Corruption (UNCAC). Worldwide, politicians are campaigning—and winning—elections based on the promise to curb corruption. Whether these politicians tackle corruption once elected is another story!! 2) Young people across the globe are demanding change Young people across the world have been at the center of mass movements demanding social change. From the climate activists of Fridays for Future to the March for Our Lives, youth are not accepting the status quo. Forty-seven percent of young people across the world see corruption and lack of government accountability as the most serious issue affecting their country, according to a survey by the World Economic Forum. Thought leaders echo this positive development. When asking them about opportunities to accelerate change, one thing becomes obvious: “today’s vibrant youth” is a key reason to be hopeful about the future fight against corruption. 3) Tech offers new tools to fight corruption Digital technology will be key in the future fight against corruption. Corrupt actors will make themselves at home in new digital spaces, by using cryptocurrencies to launder money, by manipulating and stealing data, and by leveraging artificial intelligence (AI) and machine learning. But it’s not necessarily all bad news. If corruption fighters succeed in using technology more effectively than those exploiting it for corrupt purposes, it may be one of the biggest opportunities to foster positive change. 4) More allies are joining the fight Driven by growing pressure from customers, companies are waking up to the importance of good governance and ethical behavior. There is an evergrowing range of benchmarking tools, integrity frameworks and networks that are often just waiting to be properly implemented.

Can we rise to tomorrow’s corruption challenges?

YES, if everybody understands that integrity starts with ‘I’—me, my involvement, and my understanding that if I am not part of the solution, I am part of the problem. Feedback is hoped for; contact me at schumacher@ eitsc.com

SRA ties up with PHILSURIN on farmers’ sugarcane yield By Jovee Marie N. Dela Cruz @joveemarie

HE Sugar Regulatory Administration (SRA) and the Philippine Sugar Research Institute (PHILSURIN) have agreed to collaborate to increase sugarcane farm yield. In a news statement, SRA said they will implement projects to address the most crucial issue on low farm yields in sugarcane farming. “Low farm productivity can be addressed through the joint efforts of industry players and sugar end users, specifically the beverage manufacturers which are large consumers of sugar,” the SRA said. The agreement was forged during a meeting between SRA Administrator HermenegildoSeraficaandformerSRA Administrator Maria Regina BautistaMartin who is the executive director of thePHILSURINlastNovember7,2019. It said one of the projects is the

implementation of the regional benchmarking of best practices in sugarcane farming. “The best practices and modern technologies at the various sugarcane regions will be surveyed and packaged as a training material in sugarcane farming,” it added. SRA said the output of the benchmarking project will be used in roadshows or incorporated in the training modules of Outreach Program for the Sugar Industry and Technical Education and Skills Development Authority (Tesda) accredited training centers. The regulatory body will also conduct capacity building program to be led by SIMAG Foundation and Planters Associations. “SIMAG Foundation and Planters Associations with Tesda-accredited training centers will handle the trainings incorporating the best practices in sugarcane farming, and SRA will provide the funds includ-

ing the acquisition of necessary farm machineries and equipment that can be used in their sugarcane farming training modules,” SRA said. SRA said it will also upgrade the PHILSURIN Research Laboratory through acquisition of various laboratory equipment of PHILSURIN for its breeding projects and extension services to the farmers in proximate sugarcane mill districts. “They have mapped out that SRA and the industry players have the resources and expertise which can be bundled into one to make the industry competitive in year 2020 and beyond,” the body said. “PHILSURIN has the technical expertise in varietal improvement, and both SRA and PHILSURIN have the high-yieldingsugarcanevarietieswhich canbepropagatedanddistributedtothe sugarcane seed farms of PHILSURIN and the MDDCs of the various sugarcane mill districts,” it added

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Tuesday, November 19, 2019 A5

Govt turns to labor sector to see more Pinoys get bank accounts

By Samuel P. Medenilla

@sam_medenilla

HE government is turning its sights on the labor sector to meet its goal of having 70 percent of Filipino adults to have a bank or other transactional account by 2023. During the Financial Inclusion Forum on Monday, Bangko Sentral ng Pilipinas (BSP) Center for Learning and Inclusion Advocacy Managing Director Pia Roman Tayag told the BusinessMirror that they are confident of achieving this target. Tayag bases her confidence on the presence of the necessary technology and policy framework in promoting financial inclusion, which are usually accessed via bank accounts, is already in place. “I think it is achievable especially with the providers’ technology and the enabling regulations of BSP for basic deposit account

and cash agents,” Tayag explained. “So this confluence of these developments will make it realizable.” Currently only 23 percent of all Filipinos have bank or other transactional account. Of those without such accounts, 69 percent of them attributed it to having insufficient funds. BSP Governor Benjamin E. Diokno emphasized the labor sector “will play a big role” for the government to reversing this trend. “Payments of salaries and wages is a compelling opportunity to open a transaction

accounts for our workers and based from existing official data, there are 25.5 million strong work force in the country,” Diokno said.

employers to use these [financial] platforms for the benefit of workers,” BLR Officer in Charge Maria S. Bacay said.

Labor role

Win-win solution

TO achieve this goal, the government recently included the Department of Labor and Employment (DOLE) to the Financial Inclusion Steering Committee (Fisc), which is being led by BSP, to promote financial inclusion—the extent of a persons access to appropriate financial products like savings, insurance, and investment. Labor officials have committed to launch activities, which will promote financial inclusion in the grassroots level. Its first activity was organizing the Financial Inclusion Forum, which was attended by over a hundred representatives from labor organizations. The labor department’s Bureau of Labor Relations (BLR) said they also plan to come up with a new issuance to encourage employers to pay employees salaries through bank accounts. “We are now looking into the possibility of issuing a labor advisory encouraging the

LABOR Undersecretary Claro A. Arellano emphasized the importance of the Fisc’s efforts since a low financial inclusion raises the risk of workers to labor abuses. “When we have a situation where the prevailing mode of payment is through manual cash, there can be a difficulty in verifying and validating the payment of correct wages and mandatory benefits,” Arellano said. In contrast, the labor official said, workers who tend to have high financial inclusion, which usually starts from having a bank account, tend to be “resilient to unexpected financial shocks.” Financial inclusion, Arellano said, is also beneficial for employers. “For the employers, electronic payment of salaries will not only cut the transaction, administration, and overhead costs, but also reduce incidence of leakages during disbursements,” Arellano said.

Lawmakers invoke House rule so that bill tweaking tax structure on miners can sail By Jovee Marie N. dela Cruz @joveemarie

ITING a need to have a “rational” tax structure imposed on miners, lawmakers invoked a rule allowing for a one-day hearing to tweak a proposal for taxes applied on mining operations. This was what Albay Rep. José María Clemente Salceda said after the House Committee on Ways and Means approved on Monday House Bill 5022, which seeks to establish a fiscal regime for the mining industry. In an interview, Salceda said his committee invoked House Rule 10, Section 48, or the one-day hearing only for bills that have been approved on third reading in the previous Congress. The consolidated bill was approved because the committee invoke the rule. According to Salceda, the bill approved by the committee could provide P25 billion additional revenues to the government in five years. “In this committee-approved bill, we removed from [this tax proposal] the metallic and nonmetallic [operations] due to the

Malampaya operator gets DOF citation

he Department of Finance has recognized Shell Philippines Exploration BV (Spex) as top-paying company under the oil and gas category in the recent 2019 Transparency Awards held in Pasay City, the operator of Malampaya Deepwater Gas-toPower Project said in a statement. Spex said it topped the list with a P22billion total reconciled payments indicated in the latest report, “Forging New Frontiers: the Fifth PH-EITI [Philippine Extractive Industries Transparency Initiative] Report [FY 2017].” One of the most successful public-private partnerships (PPP) in the history of the country, the Malampaya project provides up to 40 percent of Luzon’s electricity requirements and has contributed $11-billion remittance to the Philippine government. The Transparency Awards is PH-EITI’s annual award-giving ceremony to recognize outstanding performance and achievement in the implementation of EITI and promotion of extractives transparency as a whole. This recognition greatly displays that in addition to powering Philippine progress, Spex also ensures that the extraction of the country’s natural resources translate to sustainable development. The Fifth PH-EITI Report embodies innovation and expansion with the pilot use of an online reporting tool, “Online Reporting in the Extractives,” and the inclusion of new sectors. Besides having a larger scope than the previous report, the report also features pilot reports on beneficial ownership and small-scale mining.

‘Build, Build, Build’ program [of the Duterte administration],” he added. The lawmaker said the bill pushes for an equitable imposition of royalty on mining operations within and outside mineral reservations. For her part, House Committee on Ways and Means Senior Vice Chairman Estrellita B. Suansing said there is a need to create a rationalized and single fiscal regime applicable to all mineral agreements to promote fairness. “This aims to level the playing field, so to speak, considering that under the current taxation setup, only mining contractors inside the mineral reservations pay the royalty tax,” Suansing, who is also the principal author of the bill, said. She added that the bill proposes an equitable imposition of royalty on mining operations—whether small-scale or large-scale— within and outside mineral reservations. Under the proposal, a 3-percent royalty tax shall be imposed on large-scale mining operations within a mineral reservation. The bill also said a margin-based royalty tax shall be imposed on large-scale mining

operations outside mining reservation areas, ranging from 1 percent to 5 percent. The measure added that small-scale mining operations shall be exempt from the payment of royalty. Currently, the law requires payment of royalty fees only in mining sites declared as mineral reservations. The measure also proposed the creation of the Natural Resource Trust Fund, a sovereign wealth fund for use by local governments where mines are located. The bill said failure to comply with this obligation shall warrant immediate suspension or closure of the mining activities of the contractor concerned. To ensure utmost care in fund handling, the bill said the fund shall limit discretionary spending until the next administration. “The fund shall be used by local government units to support educational programs, technological, resarch programs of local relevance, disaster risk management, rehabilitation of abandoned mines and health services programs of the communities directly affected by mining activities,”

Salceda said. The bill also seeks to optimize revenues from mining agreements through an auctioning system to be established by the Mines and Geosciences Bureau (MGB). The measure acknowledges that mining operations deleteriously affect the carrying capacity of the environment, to the detriment of future generations. The measure optimizes revenues from mining agreements through an auctioning system, to be established by the MGB. This will minimize awarding of mineral agreements based on asymmetrical information, first-come, first-served system and patronage politics. Moreover, it shall promote investments in mineral-rich areas through an online portal open to the public. The measure institutionalizes the nation’s participation in the Philippine Extractive Industries Transparency Initiative provided under Administrative Order 2017-07 by the Department of Environment and Natural Resources requiring full public disclosure in the mining industry, particularly in revenue collection and tax payments.

FWD PHL launches online shopping site

WD Life Insurance Corp. announced on November 12 it launched a new online insurance-selling platform where the insurer “offers exclusive insurance products and rewards only available online.” The online platform called Shop@FWD “is a new digital platform that allows customers to purchase insurance products in mere minutes,” FWD Life said. It is the fastest way to get insured online while getting rewards as well, the insurer added. “We’re making insurance more accessible with Shop@FWD. Anybody, from young professionals to breadwinners, can now easily purchase much-needed insurance coverage with the click of a button,” FWD Life President and CEO Peter Grimes was quoted in a statement as saying. “At FWD, we want to change the way people feel about insurance, and one way to do this is to provide a hassle-free way to purchase insurance and be instantly covered.” One of the products FWD Life is selling is

an insurance product suite that covers policyholders so that they “can do” whatever they want with no hesitation. The insurer said the product is available for individuals aged 18 years old to 50 years old and comes in three variants. For only P1,799 a year, customers will be covered up to age 55. Each product has distinct features that fit people’s diverse lifestyles and varying needs. One of the variant, KanMend, is a life insurance policy that provides a critical illness benefit of P100,000 in case the insured is diagnosed with any of the 42 covered critical illnesses. The policy also comes with a reward—six months of access to a health hotline service that provides 24/7 unlimited telemedicine access to licensed Filipino doctors providing medical advice, anytime, anywhere. Another variant is KanLive, which is a life insurance policy that provides a death benefit of P200,000, to beneficiaries in case of the insured’s death. One year of

unlimited medical consultation is also included, courtesy of a health-care service provider with a dozen branches spanning throughout Metro Manila, Cebu, Laguna and Pampanga. In the unlikely event that the customer is caught in an accident or terrorist attack anywhere in the world, the third variant, KanGuard, provides a cash benefit of P500,000 for the financial support of the beneficiaries in case of the insured’s death, or for the financial support of the insured in case of total and permanent disability. It comes with a one-year subscription to Assist America Global Emergency Services, a provider of emergency medical services for travelers worldwide. “We value people’s time, and that’s why no paperwork is required when buying through Shop@FWD. Instant coverage is possible just by filling out a one-page form,” added Grimes added. “We strongly believe that insurance should be a convenience, not a burden.”

Traders ask who’s paying with big bets in Asia on Fed

HE Eurodollar options market, where investors bet on US interest rates, is typically quiet during Asian trading hours. The lack of liquidity hasn’t stopped the building of huge positions in recent weeks. A series of block trades, similar in size and structure, has led to speculation that at least one investor is betting big that the Federal Reserve will cut rates only once more, at most, in this cycle. The hedge for just one transaction last week was equivalent to more than four times the average daily volume for September contracts in the region. With Federal Reserve Chairman Jerome Powell sticking to his view Wednesday that interest rates are probably on hold after three straight reductions, investors have dialed back expectations. Futures show close to zero easing priced in for the remainder of this year, and a quarter-point cut in 2020. “The Fed shows no signs of hurrying to cut rates,” said Jun Kato, chief market analyst at Shinkin Asset Management in Tokyo. “With Powell repeating that the US economy is in a good shape, speculation that there won’t be any more cuts is gaining momentum.” That view appears to underlie the eurodollar positions constructed during Asian hours over a period of three weeks, based on an analysis of the options purchased and sold and open interest changes. The trades started drawing attention from October 24 after a series of large block transactions. From then, they have proceeded like clockwork every few days, with the latest showing a build up of 98.00 puts and 98.75 calls. For an illustration of how the trades work, take a look at a risk-reversal bet placed on November 12 on the level of three-month Libor in September 2020. The investor bought one put option with a target of 2 percent, and sold a call at 1.25 percent, a strategy that will make money if markets price out more than one Fed cut and incur losses if expectations for more easing increase. In total, there are are around 280,000 short positions in calls targeting a strike equivalent to 1.25 percent for the September 2020 and March 2021 Eurodollars contracts. That means if markets start to price more than two Fed rate cuts by this time, someone holding that position would stand to wear heavy losses. On the flip side, not all economists agree that the Fed will cut rates even once. Morgan Stanley predicts the central bank will remain on hold through 2020 in its global strategy outlook. The trades stand out not only for their size, but also their timing, during less liquid Asian hours. Bloomberg News

Google checking accounts may give banks an edge in deposit wars

OOGLE’S new checking account service could help banks in their battle for consumer deposits. The technology giant said last week it’s exploring how it can partner with banks to offer checking accounts through its Google Pay app. Citigroup Inc. and a California credit union signed on as initial partners for the effort—a move that could help them pick up extra customers as the industry contends with slowing growth in deposits. “It’s a war for deposits,” Betsy Graseck, an analyst at Morgan Stanley, said in a note

to clients on Friday. “An opportunity to deliver value to corporate customers and pick up incremental checking accounts, as well, is a good business decision.” Deposit growth at the biggest US banks slowed to 2.2 percent last year, the lowest level since 2010, according to data compiled by Bloomberg Intelligence. Consumers have increasingly flocked to newer, digital-only banks that come with flashy mobile apps and often offer higher interest rates for their savings. Citigroup has been making a push for consumer deposits after it debuted its national

digital bank and restructured its US consumer operations last year, bringing Anand Selva from the firm’s Asia business to lead the new unit. Average deposits in the firm’s US retail banking arm have climbed 2.9 percent this year to $186 billion. With the Google partnership, Selva is leaning on a playbook he learned in Asia, where Citigroup has forged partnerships with consumer companies including Paytm, India’s largest payments platform, and Grab, the ride-hailing app in Southeast Asia. Banks will essentially be using Alphabet Inc.’s Google as a method for adding

customers, “kind of like how airlines act as an account acquisition tool for credit cards,” Graseck said in her note. “This is not attaching your current checking account to Google Pay. It must be a new checking account.” For Google, the bank partnerships will give the tech behemoth a better ability to show advertisers how marketing dollars spent on its system can drive purchases, according to Graseck. In a Morgan Stanley survey, consumers expressed high levels of confidence in Google’s ability to offer banking services, she said. Bloomberg News

A6 Tuesday, November 19, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Home advantage

he last time the Southeast Asian Games (SEAG or SEA Games) was held in the Philippines, our country won its first-ever overall title. That was in 2005, our third time to host the regional multisport event.

In the 1991 SEAG, our second time as host, the Philippines had a bumper harvest of 91 gold medals and we lost by just one gold to overall winner Indonesia. There is no doubt that playing at home increases the chances of winning for home teams. Playing in front of their fellow Filipinos can be everything for our athletes. But this assumes the home crowd will turn out in droves to support them as they compete. This we encourage Filipinos to do as we host the 30th Southeast Asian Games from November 30 to December 11. We hope the government and our local organizers would offer opportunities for the full participation and support of the home crowd. Let us give our athletes our all-out support as they push their limits, try to break records, set new standards and do our country proud. How much of a difference can playing at home really make? Some researchers, mathematicians and scientists have actually tried to answer this question through studies. The pioneers were researchers B. Schwartz and S.F. Barsky, who in 1977 calculated the home advantage for different American sports. Their study revealed that for ice hockey and basketball, for example, 64 percent of games were won at home, and for American football, home advantage accounted for 60 percent of the wins. There was a flurry of studies that followed after their initial report. Soccer reportedly has one of the biggest advantages of any sport, with some studies estimating a 69 percent chance of winning for home teams. Courts and venue familiarity and crowd support are the most cited reasons in explaining the home advantage. Anybody who has played in a hostile barrio or barangay (in Filipino, we call it dayo) would know how much of a factor even a hundred cheering or jeering supporters can make, so how much more if we’re talking of thousands? Noisy crowds can boost the energy of the home team, take their opponents off their game and even influence the referee or the judges. In the SEA Games, host countries also do well because of the aforementioned factors, and the advantage of choosing the sport events where the host is good at. For instance, in the last staging of the SEAG in 2017, Malaysia was overall champion, winning 145 of a total of 404 gold medals. In an ABS-CBN news report, Datuk Sieh Kok Chi, former secretary of the Olympic Council of Malaysia, said he sees the Philippines using the same strategy used by Malaysia in 2017 to win the SEAG title. “The Philippines will naturally be the champion, with Thailand, Vietnam, Indonesia, Malaysia and Singapore fighting for second to sixth positions,” he said in his Facebook post that was quoted in the ABS-CBN story. He said Malaysia had certain advantages as host in 2017, which were maximized by the country’s organizing committee. “For example, the Diving events were increased from the normal eight events to 13, track cycling events were increased from the normal eight events to 13 and Pencak Silat events were increased from the normal 14 events to 20 events. In addition, the events of a number of sports, such as boxing, fencing, judo, weightlifting, were reduced by half.” Chi said the Philippine SEA Games Organizing Committee is also maximizing the home advantage in the same manner. A total of 530 events across 56 sports will comprise this year’s SEAG, a considerable increase from the 2017 edition staged in Malaysia, which only had 404 events in 38 sports. It would be a nice Christmas, indeed, for Filipinos to be able to relive the glorious times we hosted the SEA Games and did well. A splendid performance in the medal count in this 30th SEA Games, if not an overall victory, would do well for our people as they prepare for Christmas. It is, after all, a time for joy, and in a nation hungry for things to be joyous about, we need all the help we can get, all the reasons we can find to celebrate.

Since 2005

IPO: To buy or not to buy? John Mangun

OUTSIDE THE BOX

“An initial public offering refers to the process of offering shares of a private corporation to the public in a new stock issuance. Public share issuance allows a company to raise capital from public investors. The transition from a private to a public company can be an important time for private investors to fully realize gains from their investment. Meanwhile, it also allows public investors to participate in the offering.”—Investopedia

do not get excited about IPOs, maybe because I have been in this business long enough—as a “boomer”—to know and see that listing day is how the stock market comes closest to being a gambling casino. By that I mean like a “slot machine.” In order to win on the slots, you have to pick the right machine and play it at the right time. As a side note, casinos make between 75 percent and 85 percent of their revenues from the slots.

I am going to tell you about “playing” the IPOs, some of which will be totally useless but I will warn you when I come to that part. Note first that about 90 percent of all IPOs—regardless of what hap-

Manny B. Villar

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Here comes the useless part as far as what the price may do. But you may want to check this out anyway. IPOs are really designed for one purpose only: to put cash in the pockets of existing shareholders at a price higher than what they paid. However, usually company shares are also sold. If the company is using the money for expansion/improvement, that is good. If the company is using the IPO funds to pay off debt, that is not necessarily good. It may improve the company’s balance sheet, but it probably means they have too much of “bad” (high interest) debt. So they are selling you a portion of the company—at a premium price—to pay off their debts. Not good. Here I come back to my No. 1 rule on IPOs. Buy them all or buy none, on or before listing day. Otherwise, invest as you would in any other issue, ignoring the IPO euphoria. E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

Economic prospects more upbeat in 2020

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pens on the first day of listing—return to the original IPO price within two months. The ones that do not are like Cebu Pacific, which listed in 2010 and is still trading about 30 percent lower than its offering price. Pure-

Gold, which went public in 2011, is still a boomer (I really like that word) currently trading about 300 percent above its listing price. The three most recent IPOs are the way the IPO market goes. Kepwealth Property Philippines Inc. is still a boomer, up more than double since August. Axelum Resources is still down about 25 percent since it went public in October. AllHome Corp. is now trading slightly below its listing price, but the company spent P700 million on listing day to keep the price from falling. See, you have to choose the right slot machine. The IPO “underwriter” is the financial institution that puts the deal together, figures out a price and does the marketing. Stockbrokers actually sell the shares. IPOs are always “oversubscribed,” meaning more potential buyers than the amount of shares available. I am not sure if this is true, but I was told that the only IPO that was not oversubscribed was “Sodom and Gomorrah Holdings Inc.” Somebody had inside information about the wrath of God that was going to hit on listing day. Ignore the hype about an issue being oversubscribed.

he more robust economic growth in the third quarter of 2019 is making many businessmen more bullish on their prospects for 2010.

I will not argue with their assessment. The 6.2-percent gross domestic product growth registered in the July-to-September period, coming from a less stellar performance in the first two quarters of the year, has just proven that the economy is performing well despite the global headwinds. Macroeconomic fundamentals and a tamer inflation rate this year are keeping the economy afloat. The recent investment figure of the Board of Investments (BOI), showing a sharp increase of 105 percent in the first nine months of 2019 to P764.7 billion from just P372.9 billion in the comparative period last year, has just made the country’s economic prospects brighter in 2020. The GDP expanded 6.2 percent in the third quarter, putting the economy on track to meet the low end of the government’s 2019 growth target range of 6 percent to 7 percent. The Philippines is the secondfastest growing major economy in Asia, next only to Vietnam’s

7.3-percent growth in the third quarter. The Philippines outperformed China’s 6 percent, India’s expected growth of below 6 percent and Indonesia’s 5 percent in the same period. Bangko Sentral ng Pilipinas Governor Benjamin Diokno noted that the third-quarter growth showed that the government’s “catch-up plan” is working. “The 6-percent full-year GDP growth target is a tall order, after a slower-than-expected first half, but still doable. In any event, the Philippines growth performance this year is one of the fastest among relatively large economies, amid a slowing global economy,” Diokno said. Finance Secretary Carlos Dominguez III is more bullish and confident. The economy, he says, will sustain growth momentum in the months ahead and likely grow by above 6 percent for the rest of the Duterte administration. I share the optimism of our finance chief. The economy has weathered adverse local and global

The “Build, Build, Build” infrastructure program, and the bold policy and administrative reforms being undertaken by President Duterte are backing the rosy outlook for “one of Asia’s powerhouse economies.” He cited that the Philippine economy grew by an average of 6.4 percent in the first 13 quarters of the Duterte administration.

developments—from a stubbornly high inflation rate and an extended drought to the US-China tit for tat and gyrating oil prices in the world market. The Philippine economy, in my opinion, did well despite the adversities. Dominguez, in a forum with the country’s key chief executives, predicted that the economy was “ready to soar” after a strong 6.2-percent expansion in the third quarter of 2019. He said the rollout of the “Build, Build, Build” infrastructure program, and the bold policy and administrative reforms being undertaken by President Duterte are backing the rosy outlook for “one of Asia’s powerhouse economies.” He cited that the Philippine economy grew by an average of 6.4 percent in the first 13 quarters of the Duterte administration. “.... While most of the mature economies are expected to grow slower this year, the Philippines stands staunchly as a growth leader in this dynamic region of the world,”

Dominguez said. He added that “against the headwinds of a broad slowdown in the global economy, we expect our economy to grow at around 6 to 7 percent this year. The country is strong and ready to soar.” “Into the foreseeable future, we are confident of sustaining a 6 percent or better growth rate despite the headwinds buffeting the global economy.” I also expect the economy to sustain the robust pace it exhibited in the third quarter. The BOI figures foretell what will happen in the economy in the short-term period. While the BOI-registered investments are in the form of pledges, they will soon materialize as soon as project proponents implement their plans. The share of domestic investments rose 55 percent in the ninemonth period to P524.9 billion from P339.3 billion a year ago, while foreign investments surged 613 percent to P239.9 billion from P33.6 billion. Investment commitments outside Metro Manila, meanwhile, accounted for 98.2 percent of the total, with a projected employment of 41,862, or 38.5 percent higher than last year’s 30,218. These investment commitments will shortly translate into employment and consumption, which will further bolster economic growth. “The sustained high growth of investments is a proof of the business sector’s strong confidence in both the Philippine economic fundamentals as further shown by the acceleration See “Villar,” A7

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Opinion

Pogos are taxable

Kai Sotto: The first Filipino to don an NBA jersey?

BusinessMirror

Atty. Irwin C. Nidea Jr.

Manny F. Dooc

Tax law for business

TELLTALES

verybody cannot help but notice the sudden influx of Chinese nationals in the country. My barber is happy since his business is doing good. He has more hair to trim. Condominium owners are enjoying an easy return of their investments. They are paid in cash for a one-year rent. Resort owners encourage their staff to learn mandarin because more of “them” are coming. This is the result of our country’s open-door policy on Philippine Offshore Gaming Operators. What is the business of Pogo and why are they mostly coming from China? Since China bans gambling, the Pogo operators are skirting this prohibition by going to our country—establish a hub where Chinese individuals may place their bets. Pogo employs Chinese nationals primarily because they can speak the necessary language. A recent news report caught my eye. It says that Pogos cannot be taxed because the bettors, who are the source of the income, are in China. Despite the money that Pogos earn by operating in the country, are we really going to admit and submit that everything that they are earning here is for free? This problem is not new for the Bureau of Internal Revenue. As early as 2017 and 2018, the BIR has already issued circulars (Revenue Memorandum Circular 102-2017 and RMC 78-2018) to address this. The BIR imposes tax on the income of a Pogo from gaming operations and from other services, shows and entertainment necessary and related to its gaming operations. The BIR also classified Pogos as resident foreign corporations “doing business in the Philippines.” Generally, a resident foreign corporation that is doing business in the Philippines is subject to 30-percent income tax and 12-percent value-added tax. But as they say, in every rule, there is an exception. The Philippine Amusement and Gaming Corp. (Pagcor) has the power to issue a license and define the terms thereof, including the tax that will be paid by a gaming operator. Pagcor deemed it proper that the entire gross gaming receipts/earnings or the agreed minimum monthly revenues from gaming operations of Pogos, whichever is higher, shall only be subject to 5-percent franchise tax in lieu of all kinds of taxes, fees or assessments. In other words, the 5-percent franchise tax covers all taxes that is due from gaming operations. But income from services necessary and related to gaming operations, i.e., shows, entertainment, etc., is the only thing subject to the

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of the third-quarter gross domestic product growth to 6.2 percent,” said Trade Secretary Ramon Lopez, who is also the chairman of BOI. Moreover, a resilient, well-managed economy under the watch of President Duterte has already seen

normal income tax, VAT and other applicable taxes. This begs the question, are Pogos taxable? The BIR and Pagcor are clearly saying yes. But the BIR’s hands are tied to impose the full 30-percent income tax and 12-percent value-added tax. Pogos have an agreement with Pagcor that they will only be paying 5-percent franchise tax from their gaming operations, in lieu of all other taxes. Jurisprudence supports the argument that Pogos are taxable because they are doing business in the Philippines. In Commissioner of Internal Revenue v. British Overseas Airways Corp. (GR L-65773-74, April 30, 1987), the Supreme Court defined the term “doing business” in this manner: “In order that a foreign corporation may be regarded as doing business within a State, there must be continuity of conduct and intention to establish a continuous business, such as the appointment of a local agent, and not one of a temporary character.” The operation of Pogos requires a certain continuity or regularity of business operation. They have established “hubs” where hundreds if not thousands of Chinese nationals are employed and housed. Their business is continuous and regular. The question that we should be asking is not whether Pogos are taxable. What we should be asking is, are we satisfied with the 5-percent franchise tax, in lieu of all kinds of taxes, levies, fees, or assessments of any kind, nature or description that they are paying? This is a policy issue that our leaders must decide upon. My barber might not be happy if he will have fewer hair to trim, but he will understand if it means that the country will receive its fair share. The author is a senior partner of Du-Baladad and Associates Law Offices, a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at irwin.c.nideajr@ bdblaw.com.ph or call 8403-2001 local 330.

the drop in the unemployment rate to its lowest level in 40 years, and the decline in poverty incidence from 27.6 percent in the first half of 2015 to 21 percent in the same period in 2018. We have nothing to worry at all. The economy is just doing fine. For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

ow do you produce a child prodigy? Maybe we can learn from a Belgian couple whose nine-year-old son will graduate from college this coming December. Laurent Simons will be finishing his Electrical Engineering degree and then plans to take up a PhD in engineering and at the same time enroll in a medical school. “Laurent is the fastest student we have ever had here,” his school said. “The absorption of information is not a problem for Laurent,” his father observed. After the experts had administered a battery of tests to determine the extent of his intelligence, his parents said that “he is like a sponge.” Laurent’s parents are both doctors but they have not come up with any explanation as to why their child is so gifted intellectually. His mother though has her own theory and attributes it to her eating a lot of fish during her pregnancy. Filipinos should take a cue from this. Our seas teem with various species of fish and our typical viand consists of fish but we have not produced a child prodigy. Maybe we have been eating the wrong kind of fish like galunggong, tilapia and bangus, which are the only affordable kind. The price of fish has become so prohibitive particularly after the ASF scare that lapu-lapu can only be found in our history books and public parks but not in our dining table. A family can partake fish in the form of tuyo and daing but this may also become a luxury once the proposed salt tax is imposed. I am

glad that the DOF has stamped down this proposal. We may not have produced a child prodigy but definitely our country does not run short of “extraordinary” talents. A recent news report announced that a settlement clerk of a stock brokerage firm was arrested after it was uncovered that he had stolen “over P700 million worth of inventory stocks.” The massive theft had virtually depleted the firm’s stock position causing the 50-year-old company to cease operations. Investigation revealed that he transferred the shares to others for a fee and

Be a real macho man Siegfred Bueno Mison, Esq.

THE PATRIOT

elational leadership is a philosophy anchored on a deliberate and quality interaction with others under a premise that whenever employees are seen not as numbers but as an integral part of a team, they perform better. It is similar to peopleoriented leadership, which includes a lot of mentoring and coaching. It is almost the same as participative leadership where leaders consciously builds rapport with subordinates to allow them to participate in decision-making, which is a democratic and compassionate way to run an organization. Relational leaders make their subordinates feel valued more than just what they can do for the company. These leaders, especially if faithbased ones, value employees as human beings created in God’s image (Genesis 1:28) and according to Our likeness. Thus, each person deserves to be loved and cared for, first by his family, then by his company, but ultimately by every other human being. If only business owners adopt this kind of mindset, layoffs would be the last option in cutting down costs. If only leaders of law-enforcement agencies share this mindset, merciless killing and salvaging would be a thing of the past! Being a people person has its risks and rewards. Whenever leaders have that much rapport and heartfelt connection to their people, subordinates are never afraid to speak up and innovate. During my early days in the

Army, whenever my commander would allow me to comment on a particular operation plan, I feel not only significant but I can claim ownership to the concept of the operation. It’s always nice to execute an operation wherein you were part of its formulation. On the downside though, these relational leaders run the risk of being seen as a mere coworker instead of a boss, which may breed over familiarity that eventually leads to contempt. Overall, being relational pays off, not necessarily in company profitability or employee morale, but in terms of having a network of friends who are just there for you, even post employment. We should never underestimate the value of relationships knowing that it is a small world after all. When I was in the Bureau, I genuinely wanted to create a lasting change built on a foundation

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then falsified the records to avoid detection. He used the money for his quarry business and other investments. Interestingly, the alleged thief’s name as reported is “Marlo Moron” but he is anything to me but a moron. nnn

The case of Kai Sotto who is currently in the US to further hone his craft clearly demonstrates that height is might in basketball. The 7’2” Kai continues to dominate the matches his Atlanta-based team, The Skills Factory, played in. In his last outing, he impressed basketball aficionados by posting a near triple double against the opposing team by scoring 20 points, 11 rebounds, nine blocks and four assists. In his debut, Kai scored a double-double by converting 18 points and grabbing 12 rebounds. It was enough for the opposing clubs to notice and mark him as a threat. One of the NBA’s most prolific scorers, James Harden of Houston Rockets and All-Star player John Wall of Washington Wizards were products of TFI when they were training early in their career. The Philippines is a basketballcrazy country and Filipinos dream of making it big in the World Basketball Championship and the Basketball Olympics despite our size. Our best performance ever was recorded in the 1954 World Basketball Championship of the International Basketball Federation hosted by Brazil where we won third place behind the champion, US, and the runner

that can withstand changes in the administration. I did what I could to engage stakeholders—both employees and the transacting public in every small personal interaction I can. Any and every person can easily walk into my office then, with or without an appointment, and I give them a listening ear or some assistance in my role as a public servant. More than three years removed from the Bureau, I am so grateful that most people whose lives I touched remain to be my friends to this day. We still regularly communicate with each other and sometimes meet up for coffee. I was so flattered that former colleagues in the Bureau, one based in Baguio City and the other based in Lucena City, cheerfully hosted me, despite a short notice, for breakfast, for dinner and even a round of golf during my recent road trip. Having been given the responsibility over all God’s creation, men are to take care of everything created by Him, especially human beings. By way of analogy, leaders in business or in government, who have been given responsibility over their agencies and their employees, must look after their needs, collective and individual, and protect them from harm—layoffs and termination to name a few. Relational leaders who can genuinely connect with their people always manage to find in their hearts the compassion necessary to act like real macho men! These are the leaders who do things, even to the point of breaking the rules, to help others out of genuine concern. These are the leaders who will do things, even against organizational culture

Prince Andrew bombs in BBC interview, creating PR disaster By James Ludden Bloomberg Opinion

rince Andrew’s attempt to explain away his friendship with pedophile financier Jeffrey Epstein in a high-profile TV interview degenerated into a farce that threatens to be the British royal family’s biggest public relations disaster since its handling of the death of Princess Diana in 1997. #PrinceAndrew trended high on Twitter as Saturday’s hour-long interview with the BBC began airing on prime-time British TV. Interviewed by Newsnight host Emily Maitlis in a carpeted room, Queen

Elizabeth II’s second son gave a wooden display in which he denied sleeping with Virginia Roberts, one of Epstein’s alleged teenaged sex slaves. By Sunday morning, there was no doubt where the public’s sympathies lay. He knew the liaison didn’t happen, he said, because Roberts has referred to him being “sweaty”— and he once had a medical condition at the time that meant he couldn’t sweat. Also, he remembered that was the same day he took his daughter Princess Beatrice to a Pizza Express restaurant in suburban Surrey.

When pressed why he recalled this date so clearly, he replied, “because going to Pizza Express in Woking is an unusual thing for me to do, a very unusual thing for me to do.” The prince’s answers—particularly on why he decided to stay in Epstein’s New York mansion for four days in 2010 because it was “convenient”—will probably place him in the public domain for weeks or longer. That visit came months after Epstein was released from custody following his conviction as a sex offender. It’s another unwelcome distraction for the House of Windsor. Some

older negative storylines are set to be aired in the third series of Netflix’s The Crown, and it’s had to deal recently with the PR fallout from a damaging interview that the Duke and Duchess of Sussex gave to broadcaster ITV. While there’s always been a hardcore of royalists supporting the monarchy, its popularity in Britain took a major hit following the Queen’s initially rigid and protocoldriven response to the Princess of Wales’s death in a car crash at age 36. Buckingham Palace’s initial refusal to fly the Royal Standard at half-staff came in for particular criticism.

Instant reaction

Reaction to Andrew’s interview came thick and fast. Little of it was in favor of the prince, or of the team who thought it was a good idea for him to go in front of the camera. The Sun, Britain’s top-selling newspaper, rated his attempt with the headline, “Wince Andrew.” On Twitter, quiz show host Richard Osman mused that “he’s just too thick to even lie properly,” while Craig Oliver, the former communications chief for ex-prime minister David Cameron said, “it will go down as one of the worst PR decisions ever—proof you really can make things a lot worse when you try to

up, Brazil. The mythical Philippine team was led by the finest Filipino cagers the Philippines has ever produced, Carlos “The Big Difference” Loyzaga and Lauro “The Fox” Mumar. The Filipino squad was among the tallest teams with its average height of 6 feet. We were competitive then because our opponents did not have stratospheric players unlike now. I have little doubt that Kai, given his impressive performance in his US outings and his sheer height, will be the first Filipino to don an NBA jersey. nnn

The World Health Organization hailed the Philippines’s “sin” tax campaign as a global model for promoting national health and preventing noncommunicable diseases in the country. The government’s efforts to raise revenue from sin taxes to finance its universal health care program is a groundbreaking initiative that other countries may adopt and replicate. The WHO cited the Duterte administration for coming up with a cheap and costeffective measure to discourage consumption of tobacco and alcohol, which have deleterious effects to their users. We should commend PRRD and our economic managers for their vigorous resolve to curb inordinate drinking and smoking, which are inimical to one’s health. Imposing taxes on the so-called sin products is grossly unpopular but its salutary effect is not lost to our discerning citizens.

or company practice, if only to cater to the needs of their subordinates. These are the leaders who are never afraid to show their emotions and expose their vulnerabilities to others. Nowadays, leaders would profess that they are a God-fearing people. They would often require employees to attend a ceremony, almost always with a prayer, to start the work week. Unfortunately, some have forgotten the core of their being. Way before they became leaders, they were first and foremost human beings. Dutch priest and professor Henri Nouwen said, “one of the tragedies of our life is that we keep forgetting who we are.” Regardless of their leadership philosophies, leaders, as believers, should be mindful of their first and foremost responsibility as a human being. For them to act like men in line with God’s intention and purpose, leaders must do things out of love. In the Bible, 1 Corinthians 16:13-14 tells us, “Be on the alert, stand firm in the faith, act like men, be strong. Let all that you do be done in love.” Our country needs leaders who are more relational than anything else. We need leaders who are never afraid to make mistakes, embrace criticisms, and have the emotional quotient to be aware of the needs of others. We need leaders who are real macho men (and women)! Those who will always look at others—whether an employee, customer, or competitor as God’s creation who need the love, respect, and dignity accorded to any human being, just like themselves. For questions and comments, please e-mail me at sbmison@gmail.com.

explain yourself.” Andrew appears to have agreed to the interview against the advice of the public relations consultant hired to try to revive his image in the wake of the Epstein revelations. Jason Stein tried to convince him not to do the interview and quit his post two weeks ago after Andrew insisted on going ahead, the Sunday Times reported. Before the broadcast, the Twitter account of Virginia Giuffre, formerly Roberts, retweeted the opinion of British journalist Peter Barron in which he said the interview would only make the scandal worse.

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House panel OKs franchise, income tax on Pogo

By Jovee Marie N. dela Cruz

@joveemarie

HE House Committee on Ways and Means on Monday endorsed for plenary approval a measure imposing Philippine gaming offshore operations (Pogo) companies with a 5-percent franchise tax and their workers, a 25-percent income tax.

Albay Rep. Joey Sarte Salceda, the panel chairman and author of House Bill 5257, said these Pogo taxes will provide P45 billion for the national government.

“House body, both Majority and Minority, unanimously approved tax on Pogo,” he added. The bill seeks to amend Title II Chapter I Section 22 of the National

Internal Revenue Code of 1997, as amended. Under the bill, the term “offshore gaming licensee” shall refer to the offshore gaming operator, duly licensed and authorized to provide offshore gaming services, which may be: A Philippine-based operator, a duly constituted business enterprise organized in the Philippines and offshore-based operator, a duly constituted business enterprise organized in any foreign country, who will engage the services of the Pagcor-accredited service provider or support provider or any special economic zone authority and tourism authority. The bill said an alien who is a permanent resident of a foreign country, and who is employed and assigned in the Philippines by an

₧45B

Estimated amount that Albay Rep. Joey Sarte Salceda, author of House Bill 5257, said Pogo taxes will provide the national government offshore gaming licensee shall pay a tax of 25 percent of the salaries, wages, annuities, compensation, remuneration and other emoluments, such as honoraria and allowances received from such licensee with minimum threshold of P600,000 per annum. Also, the bill said any income earned from all other sources within the Philippines by the alien

employees shall be subject to the pertinent income tax. The measure also imposed a 5-percent franchise tax on all offshore gaming companies on gross receipts derived from gaming operation covered by the law granting the franchise. The measure said Pagcor will issue licenses after Bureau of Internal Revenue (BIR) registration. Currently, Salceda said there are 60 Pogo operators in the country. “But out of 60, 10 are registered with BIR. So therefore should not the 50 [others] register?” Salceda added. The Department of Finance (DOF), citing its initial list, said there some 138,000 foreigners working in Pogo—54,241 of whom have been given alien employment

permits and with another 83,760 holding special working permits. Earlier, Salceda said this bill is the best measure “to control the potential wild gyrations” of Pogo in the Philippines. Moreover, Salceda said online gaming facilities have recently proliferated in the country, such that it is necessary to determine their taxability. “While the Bureau of Internal Revenue [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 Internal Revenue Code, will once and for all address confusion on the taxation of this emerging industry,” he said.

US, PHL defense chiefs set meeting DOJ panel By Rene Acosta

@reneacostaBM

HE United States and the Philippines are expected to affirm their decades-old military alliance with the scheduled meeting of US Secretary of Defense Mark Esper and Defense Secretary Delfin Lorenzana today (November 19), with key defense and security issues on the agenda. The bilateral meeting high-

lights the visit to the Philippines of Esper, who will offer a wreath at the Manila American Cemetery and Memorial before meeting with Lorenzana. Esper’s visit to Manila comes amid recent developments in the South China Sea. Beijing has continued to flex its muscle, including harassing a foreign-registered vessel manned by Filipino crewmen in the Scarborough Shoal.

SEVERE TROPICAL STORM “RAMON” 125 KM EAST OF APARRI, CAGAYAN as of 4:00 pm - November 18, 2019

It also comes as the Philippines under President Duterte continues to move for warmer relations with both China and Russia, with the latter even offering to help the Philippine military in its modernization program by supplying weapons, and other assets and equipment. Russia through Rosoboronexport, its primary international export and marketing arm for weapons, recently offered to deliver See “Meeting,” A2

IMMIGRATION WARNS VS. ends ‘ninja ILLEGAL RECRUITERS cops’ probe USING SOCIAL MEDIA By Joel R. San Juan

@jrsanjuan1573

HE Department of Justice (DOJ) on Monday submitted for resolution the complaint filed by the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) against 14 policemen, including former Philippine National Police (PNP) Chief Oscar Albayalde, for their alleged involvement in the “ninja cops” scandal in Pampanga in 2013. The policemen then under Albayalde, the Pampanga provincial chief, had seized some 200 kilos of shabu worth P648 million, but declared these only as 36 kilos. DOJ Senior Assistant State Prosecutor (SASP) Alexander Suarez, the head of the panel of prosecutors handling the preliminary investigation of the case, said the Justice department is hoping to come up with a resolution within the 90-day required period. “Not particularly 90 days. We cannot give you a specific period when it will be resolved, but definitely a resolution would be forthcoming as soon as possible,” Suarez said. Meanwhile, Lieutenant Dennis Wagas of the PNP-CIDG expressed optimism that the DOJ would find probable cause to prosecute the respondents. Aside from Suarez, the other members of the panel are Assistant State Prosecutors (ASP) Josie Christina Dugay and Gino Paolo Santiago. “Based on our evidence and investigation, most likely we would be lucky and the DOJ panel would find probable cause on the complaint that they filed against the respondents,” Wagas said. At Monday’s hearing, the panel disclosed that all the respondents had submitted their rejoinder-affidavits, except for SPO1 Ronald Santos, who waived his right to take part in the preliminary investigation. In his counteraffidavit, Albayalde denied all the offenses attributed to him and even noted that the DOJ had issued a resolution in 2014 which did not give merit to the claim of supposed witnesses that there was a misdeclaration of the quantity of drugs and money seized by his men. Albayalde also said he cannot be charged with violation of the antigraft law as he never intervened for the dismissal of the case and did not benefit monetarily from the said illegal operations, contrary to the claims of Philippine Drug Enforcement Agency (PDEA) Chief Aaron Aquino and retired PNPCIDG officer Rudy Lacadin. See “Ninja cops,” A2

By Recto Mercene

@rectomercene

HE ill effects of unfiltered social-media interaction have apparently made it easy for many Filipinos transacting w ith labor recruiters online to fall prey to human traffickers luring them to pay for nonexistent jobs abroad. The situation has become so dire that the Bureau of Immigration (BI) was prompted to warn job seekers against unscrupulous persons using the Internet and social media to recruit overseas workers. BI Commissioner Jaime Morente issued the warning after learning that many human trafficking victims intercepted at the Ninoy Aquino International Airport (Naia) were recruited by syndicates offering their services via Facebook and social networking sites. “We reiterate our warning to our kababayan that they should avoid transacting with strangers online offering high-paying jobs in foreign lands without the benefit of protection from government. You will only be putting yourselves in harm’s way,” Morente said. He said job seekers can always access the web site of the Philippine Overseas Employment Administration (POEA) or visit its office to look for legitimate job openings and access the services of licensed or accredited recruitment agencies. “Do not deal with unlicensed recruiters as they cannot

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With additional capacity comes lower prices through a more competitive market and a more reliable grid as it will be less vulnerable to outages, Dimagiba explained. “Reliable electric service starts with reliable power plants. A lower secondary price cap will not protect consumers from brownouts if multiple power plants go out simultaneously,” added the former trade undersecretary now consumer advocate. LKI also demanded the results of ERC’s probe of collusion among power generation companies. “Where is the ERC’s promised report on the yellow and red alerts that plagued the Luzon grid last summer? Despite demand coming down from summer, the Luzon grid

guarantee your safety, good working conditions, and salaries according to industry standards. Chances are you will be intercepted at our ports if you avail yourselves of the services of fraudsters and illegal recruiters,” Morente added. This developed as Port Operations Division Chief Grifton Medina reported the recent interception of four females allegedly recruited to work as household service workers in Dubai, and who attempted to depart as tourists bound for Singapore and Malaysia at the Naia. BI Travel Control and Enforcement Unit Head Ma. Timotea Barizo said the victims, intercepted last November 9 and 10, all admitted that they met their recruiters through Facebook and that it was the latter who processed their visas and employment papers in the United Arab Emirates (UAE). “As in the case of many ‘tourist’ workers intercepted at our ports, these women all had UAE visas in their possession which they hid in their bags as instructed by their handlers,” Barizo said. Barizo added that the passengers’ flight to Singapore and Kuala Lumpur were mere fronts as they concealed their itineraries and planned to board their connecting flights to UAE. She added that the four were immediately turned over to the Inter-Agency Council Against Trafficking for assistance and further investigation. still experienced two ore yellow alerts in October and another last November 4,” he recalled. “ W hich power plants went out repeatedly and caused the alerts? Are they going to be penalized? Where are the results of the ERC’s investigations on collusion?” Dimagiba wondered aloud. The recently held publication was about the possibility of lowering the secondary price cap at the Wholesale Electricity Spot Market (WESM). Dimagiba said the move will just defer costs that will be paid by consumers. “Any additional compensation will simply be recovered through future WESM charges and customers will still pay for unreasonable and persistent WESM price spikes. That is why we must fast-track the PSA approvals and begin building new power plants immediately,” he said.

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In the ad material of Notice of filing of Application for Alien Employment Permits published on November 13, 2019, the Position of Ms. Yang, Ximeng under EXCELLENT ERA LENDING SERVICE CORP. should have been read as Finance Director and not as published. While in the ad material published on October 17, 2019, the company of Mr. Lin, Shaowei under DATAPHORICS INFORMATION INC. should have been read as BETCONSULT INTERNATIONAL CONSULTING, INC. located at Office #01, 20A/B Rufino Pacific Tower, 6784 Ayala Ave., San Lorenzo, Makati City, Metro Manila and not as published. If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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Tuesday, November 19, 2019

ICTSI moves closer to getting OK for ₧10-B bid to develop Iloilo ports

By Lorenz S. Marasigan

@lorenzmarasigan

HE Philippine Ports Authority (PPA) has deemed complete the roughly P10-billion unsolicited proposal of International Container Terminal Services Inc. (ICTSI) for the development of the ports in Iloilo. Christian Gonzales, who heads the global corporate office of the company, said his group has re-

ceived the letter of acceptance for completeness for its Iloilo ports development proposal.

“We are excited about this development, as we know we submitted a fully compliant proposal that will be the most beneficial for Iloilo. We are fully committed to working with the PPA on this project, and are hopeful to be granted original proponent status,” he said. A spokesman for the port regulator confirmed this development on Monday, saying: “They have complied with all the requirements under the checklist.” With this, the PPA will now begin to evaluate the legal, financial and technical merits of ICTSI’s

proposal to modernize the Iloilo Commercial Port Complex and the Port of Dumangas within a maximum of 60 days. “With the transportation department’s recent directive to fast-track unsolicited bids for port projects, we are confident that we will be able to assist the Philippine government more in its goals of upgrading the country’s port network; and help Iloilo attain its full potential in facilitating even greater trade facilitation that will improve connectivity for cargo movement within the country,” Gonzales said.

PCC fines Grab ₧23.45M, orders it to refund ₧5M to its passengers By Elijah Felice E. Rosales @alyasjah

HE Philippine Competition Commission (PCC) has ordered Grab to refund its users amounting to P5.05 million for violating its commitments to regulate prices and improve service quality as a virtual monopoly in the ride-hailing market. PCC Chairman Arsenio M. Balisacan on Monday announced the agency imposed a penalty of P23.45 million on Grab for breaching its price commitments. The fine is an accumulation of all of the firm’s violations during the three quarters of its undertaking, he explained. Of this total, Grab has to transmit to government coffers the sanctions for the first quarter and the second quarter and return to its users the penalty for the third quarter. “To break this down, a fine of P11.3 million has been imposed for the first quarter, P7.1 million for the second quarter and P5.05 million for the third quarter. To kick off the refund system, the disgorgement mechanism shall be applied on the third-quarter fine, with Grab being ordered to refund P5.05 million to affected riders,” Balisacan said in a news briefing. Grab has to refund its passengers through their accounts in

GrabPay—the app’s online wallet—within a period of 60 days from receipt of the order, Balisacan explained. Over one year since Grab acquired the operations of rival Uber in the whole of Southeast Asia, it has yet to see a respectable competitor in the Philippine ride-hailing market, Balisacan said. As such, the PCC directed Grab to keep on implementing its nonexclusivity, service quality and price-related commitments, which are conditions for the Uber merger to be cleared. These commitments include allowing drivers to choose to operate with any transport network company, not tying them through an agreement, policy or incentive, and obliging Grab to assist drivers when applying for permits and licenses, even when serving for competitors. Further, Grab should remove the feature allowing the driver to view the passenger’s destination that used to result in cancellation of booking if the endpoint is too far. The firm is also tasked to be transparent with its customers by showing how fares are arrived at. “Now entering the second year of PCC’s monitoring, we have maintained the same framework, but introduced new mechanisms to ensure Grab’s compliance with its commitments,” the PCC chief said. “One of these new tools to be

implemented is the disgorgement mechanism that will return price excesses to riders if Grab breaches the monthly average fare cap set by the commission. This mechanism ensures that the public will directly be given a rebate through their individual GrabPay accounts,” he added. According to Balisacan, Grab can be penalized up to P2 million per breach under the extended undertaking of its commitments, which will be monitored by a third- party audit firm, soon to be identified by the PCC through a selection process. “ T he PCC stands to guard against any breach of the extended undertaking through an appointed impartial third-party trustee to independently monitor Grab on its commitments. Violations will subject Grab to fines up to P2 million per breach, or even the nullification of the decision conditionally clearing the transaction,” Balisacan added. In an interview with reporters, PCC Commissioner Johannes R. Bernabe said the antitrust body will keep on regulating Grab’s operations until such time competition concerns are addressed and a respectable competitor enters the market. According to PCC officials, Grab has a share of roughly 99 percent of the ride-hailing market—effec-

tively making it a monopoly in this transport sector. As such, they will only clear Grab of its commitments once a competitor with a 20-percent share enters the market. Last year the competition regulator initiated a motu proprio review of the Grab-Uber merger, as it argued the buyout virtually made the acquiring party a monopoly in the ride-hailing market in the Philippines.

Grab: We’re complying

In response to the PCC’s order, Grab said it is working within the bounds of the fare matrix set by the Land Transportation Franchising and Regulatory Board. Still, the firm committed to work closely with the antitrust agency in implementing the refund, which will be communicated to its patrons five days before payment. Further, the lone player in the ride-hailing market said it is looking forward to complying with its service and price commitments under the guidance and oversight of the PCC. “We respect the PCC and its mandate to protect the consumers of the Philippines and create a healthy competitive environment. Grab Philippines has worked closely with the PCC to form and finalize these voluntary commitments,” Grab said in a statement.

He explained that ICTSI’s proposal involves an P8.7-billion outlay to develop the loilo Port Complex—including dredging and deepening of the drafts and channel to allow the direct entry of new-generation, international vessels. It also includes the purchase of modern quayside crane handling equipment estimated to cost around P1.35 billion. The company’s other proposal involves the development of the Port of Dumangas, which will “seamlessly handle the spill over from the city port.” Should the Enrique K. Razon-

led group receive the original proponent status, its proposal will then be approved by the National Economic and Development Authority and its sub-offices, including the Neda Board, which is chaired by President Duterte. If it passes muster, it will undergo a Swiss challenge. The port authority spokesman declined to give a specific time frame as to the approvals process, noting that there is a PPA Board meeting this month, and the Iloilo port development proposal might be included in that meeting.

Philippine stocks may reaccelerate into year-end on profits, GDP By Ian Sayson Bloomberg News

NOCKED off course by a host of negatives, the Philippine stock rally may be set to regain momentum into year-end on improvement in the domestic economy and corporate profits. The Philippine Stock Exchange index has breached the 8,000 mark 13 times this year only to fall back through, hurt by factors including the US-China trade war and the MSCI’s index rebalancing. But holiday spending combined with cooling inflation, a stronger peso and a GDP boost from increased state spending provide reasons to be hopeful, investors say. “We could still see a Santa Claus rally,” said Alan Amador, who helps manage 25 billion pesos ($494 million) and this year’s best-performing Philippine equities fund at Insular Life Assurance Co. There’s a “stronger possibility” for the PSEi to reach 8,400 given good third-quarter earnings and “building anticipation that the last quarter could even be better,” he said. Earnings per share of companies in the benchmark index grew 22.6 percent in July to September, picking up the pace from

16.7 percent and 13.5 percent in the preceding two quarters, according to Rachelle Cruz, an analyst at AP Securities Inc. She said the third-quarter earnings should help push the PSEi to the 8,200 to 8,400 range by the end of the year. “Banks and property could probably still outperform because of earnings visibility,” Insular’s Amador said. “Consumers names will probably be a mixed bag but still should be a good bet” in the holiday period. T he benchmark gauge has slumped 3.5 percent from its recent peak of 8,216.68 on November 5, as overseas investors were net sellers for eight straight days. The selloff should taper as international investors complete adjustments related to the MSCI’s increased weighting of mainland China shares at the expense of other markets, said Cristina Ulang, head of research at First Metro Investment. “This is a temporary and healthy correction brought in part by the MSCI rebalancing,” Ulang said. “These dips are windows to buy into the 2020 growth recovery story. GDP and corporate earnings are accelerating. The trajectory is clearly upward. What can hold back investors from coming back is an escalation of the US-China trade war.”

PAL posts all-time high on-time performance among PHL carriers By Recto L. Mercene @rectomercene

OUR-STAR carrier Philippine Airlines (PAL) registered an all-time high on-time performance (OTP) among Filipino air carriers for flight departures out of Manila in the second half of 2019. This, as PAL’s mainline services achieved an all-time high of 92 percent on-time flights in October 2019, for international and domestic flights combined. In a statement, the flag carrier said that for July, August and September 2019, PAL flights posted a steadily increasing OTP of 80 percent, 82 percent and 89 percent, respectively. “In all months, Pal performed seven percentage points higher than its closest competitors.” Over the entire year, month by month, the PAL Group consistently maintained a lead of five to

15 percentage points in on-time departures from the Manila hub, including flights operated by PAL Express. “PAL’s surge in OTP since July is the result of concerted initiatives by PAL and PAL Express network and operations teams to achieve more efficient aircraft movement and schedule management, pre-flight passenger and ground handling processes, post-flight evaluation designed to refine and improve all action steps, and closer coordination with the airport and aviation authorities,” the airline said. Together with other Philippine carriers, PAL signed a pledge of commitment in late July vowing to work toward improved on-time performance through effective management of flight operations and usage of airport slots. Signatories also committed to accept accountability for causes of flight delays and can-

BUSINESSMIRROR FILE PHOTO

cellations within their control, as well as support the development of mechanisms of discipline for the

entire industry. While many delays are a result of airport infrastructure constraints

beyond the control of airlines, PAL lauded the Department of Transportation and its agencies, includ-

ing the Manila International Airport Authority, the Civil Aviation Authority of the Philippines and the Civil Aeronautics Board, for taking decisive steps to optimize the capacity and upgrade the efficiency of the Ninoy Aquino International Airport (Naia) along with other airports and aviation facilities nationwide. According to PAL, the combined efforts of the authorities and the airlines were instrumental in significantly improving the reliability of airline operations at the Naia, the hub of various Philippine carriers. PAL operates the largest international airline hub at the Naia complex, with flights out of Naia Terminals 1, 2 and 3. PAL’s 90.90 percent September OTP ranking for its London departures places the carrier at top 10 in overall performance in London Heathrow.

Companies BusinessMirror

Tuesday, November 19, 2019

PSE STOCK QUOTATIONS

November 18, 2019

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

BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BDO LEASING FERRONOUX HLDG MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

155 95.05 25.2 13.12 67.25 12.72 42.85 58 25.4 200.6 59 1.88 4.33 0.39 0.86 173.1 1801 1.09

155.2 95.5 25.25 13.28 67.3 13.14 42.9 58.5 25.45 201 60 2 4.44 0.4 0.89 176 1899 1.11

155.2 95.5 25.4 13.42 67.9 13.16 43.25 62.95 25.85 200 60 2 4.33 0.395 0.86 173.2 1825 1.09

155.9 96 25.4 13.5 67.9 13.16 43.25 62.95 25.85 202.8 60.3 2 4.33 0.4 0.86 173.2 1825 1.09

154.3 93.85 25.1 13.1 67.2 12.7 42.9 58 25.45 198.2 59 2 4.33 0.395 0.86 173.1 1795 1.09

155 95.5 25.25 13.28 67.3 12.7 42.9 58 25.45 200.6 59 2 4.33 0.395 0.86 173.1 1795 1.09

871030 665380 89900 547900 1872610 11300 312300 5120 111700 357920 16690 1000 52000 530000 50000 240 330 100000

135153401 63260984 2271460 7276594 126173939.5 144132 13434995 309021 2849010 71729538 988324 2000 225160 209500 43000 41556 597625 109000

9790970 -5620896.5 15190 -604048 19926272 -1704930 2962.5 -2353650 5775078 3000 -38700 -

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON 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 VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS SFA SEMICON CIRTEK HLDG

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER ZEUS HLDG

2.6 1.21 35.85 0.238 23.3 78.4 334.6 19 4.78 10.98 32 7.8 14.32 3.76 18.4 15.14 5.1 8.8 7.24 90 0.58 44 201.8 42 8.7 12.5 1.43 11.46 1.99 5.35 1.92 0.125 151.3 1.2 2.43 65 68.05 2.55 5.34 15.08 10.5 14.22 16.7 9.41 1.09 0.99 2.08 5.1 3.5 5.03 30.8 2.02 7.99 1.44 1 6.8

2.61 1.25 35.9 0.242 23.55 78.5 335 19.1 4.79 11.08 32.3 7.88 14.48 3.77 18.88 15.16 5.35 8.86 7.25 91 0.59 44.8 202 47 8.97 12.54 1.45 11.52 2 5.45 1.97 0.127 152.1 1.21 2.5 67 72 2.56 5.39 15.2 10.64 14.28 16.84 9.5 1.13 1 2.1 5.19 3.58 5.25 31 2.04 8 1.46 1.06 6.82

2.6 1.33 36.85 0.238 23.95 78.35 337 19.26 4.9 10.9 32.4 7.87 14.98 3.69 18.6 15.18 5.35 8.88 7.19 90.1 0.62 44 202 41.55 9.13 12.74 1.47 11.52 1.86 5.47 1.97 0.127 151 1.2 2.46 67.85 68.1 2.55 5.35 15.04 10.3 14.22 17 9.55 1.17 1.04 2.08 5.1 3.58 5.1 31 2.16 8.01 1.45 1.06 7.13

2.65 1.33 36.95 0.242 24 78.4 337.2 19.34 4.92 11.08 32.5 7.89 15 3.8 18.88 15.18 5.35 8.89 7.26 91 0.62 45 206 47.65 9.13 12.74 1.5 11.52 2.05 5.47 1.97 0.13 154.3 1.22 2.46 67.85 68.1 2.56 5.35 15.3 10.4 14.4 17 9.55 1.17 1.05 2.1 5.1 3.58 5.1 31 2.16 8.01 1.45 1.07 7.27

2.6 1.21 35.75 0.238 23.15 78.25 334.6 19 4.78 10.9 31.9 7.8 14.24 3.69 18.6 15.1 5.1 8.75 7.19 89.75 0.57 43.65 202 41.55 8.7 12.46 1.39 11.46 1.86 5.4 1.97 0.125 149.3 1.19 2.46 65 68.05 2.51 5.34 15.02 10.3 14.22 16.6 9.4 1.1 0.99 2.08 5.1 3.58 5.03 31 1.91 7.92 1.45 1.04 6.71

2.6 1.21 35.9 0.242 23.3 78.4 335 19.1 4.79 11.08 32 7.8 14.48 3.77 18.88 15.14 5.1 8.8 7.25 91 0.59 44 202 47.65 8.7 12.5 1.45 11.52 2 5.45 1.97 0.125 151.3 1.2 2.46 65 68.1 2.55 5.34 15.08 10.4 14.22 16.84 9.5 1.13 0.99 2.1 5.1 3.58 5.03 31 2.04 7.99 1.45 1.05 6.8

2322000 169000 2463100 50000 1217300 42580 195290 1576600 1863000 22600 1331900 55300 171300 6645000 29000 462600 1900 2638700 571200 266850 1199000 15000 796290 400 31100 63400 4497000 143700 5496000 114000 1000 7800000 629900 3970000 51000 210 190 5492000 10300 30300 106100 42100 379700 137200 1047000 8870000 44000 67000 2000 60000 1700 13987000 60100 38000 182000 1207200

6089540 -618250 206350 -11360 89132635 -19364885 11940 28444305 -17961645 3334996 -1155021 65442178 -7923270 30117930 35042 8996590 -1209120 248244 42,710,215( 10,618,675.0002) 434884 23400 2479418 321082 24882780 -257170 546428 7000178 1526142 9875 23300772 -1914620 4132361 -2078468 24249489 9480509 697280 2900 662275 -106410 161358082 -89648120 17230 271480 795366 -46170 6480010 -627080 1655080 113848 10904290 -39800 617912 -465548 1970 984990 -12700 95223749 -42336670 4778830 -181520 125460 123000 13735.5 12937 13849570 12796560 55102 456200 70864 1093510 -380980 598980 -196432 6390744 -4532772 1295710 1174530 8906070 149000 92000 -31500 341700 7160 302650 52700 -21700 28843120 -9222930 479502 113356 55100 43500 191190 8439297 -92612

0.82 12.28 823.5 51.2 11.38 3.5 6.66 0.71 0.9 0.88 6.9 7.5 13.14 890 77.15 5.22 0.495 4.15 11.64 0.54 4.63 0.036 1.26 3 1.22 1068 158 0.84 217 0.228

0.83 12.5 828 52.8 11.44 3.51 6.8 0.73 0.91 1 6.94 7.51 13.38 893.5 77.6 5.65 0.51 4.16 11.66 0.56 4.67 0.037 1.31 3.12 1.27 1069 158.5 0.85 225 0.235

0.83 12.46 831 52.95 11.54 3.62 6.8 0.71 1.01 1.08 6.95 7.62 13.38 900 77.9 5.7 0.5 4.15 12.16 0.54 4.65 0.036 1.31 2.66 1.28 1060 162.5 0.84 225.6 0.226

0.83 12.56 832 54.5 11.58 3.62 6.8 0.73 1.03 1.08 6.97 7.68 13.4 900 77.9 5.7 0.51 4.18 12.16 0.56 4.69 0.036 1.32 3.12 1.31 1075 162.5 0.84 225.6 0.24

0.82 12.22 820.5 51.2 11.3 3.51 6.66 0.71 0.85 0.88 6.88 7.5 13.14 876 76.25 5.67 0.495 4.15 11.5 0.54 4.62 0.036 1.26 2.66 1.23 1060 158 0.84 225 0.226

0.82 12.5 823.5 51.2 11.4 3.51 6.66 0.73 0.9 1 6.94 7.51 13.38 890 77.6 5.67 0.51 4.16 11.64 0.56 4.63 0.036 1.3 3.12 1.23 1068 158 0.84 225 0.235

3937000 8500 129150 665800 6499200 1052000 800 44000 13695000 1046000 2173500 12376700 39800 20230 361180 3100 20000 368000 889000 479000 6465000 5800000 255000 216000 141000 856040 131100 115000 260 190000

3231450 104750 106344620 34575170.5 74150660 3716300 5398 31660 12522740 971330 15098689 93138536 531958 17955540 28057829 17652 9940 1532030 10410060 259370 30,120,900( 208800 327530 626620 175580 913281135 21029243 96600 58506 44380

-530850 -17589765 226919.5 -25647064 -17740 236720 4566352 -49179069 -36840 -3215660 7807778 -1002560 -4194806 1,685,900.0004) -9360 628387345 -10547482 58506 -

PROPERTY ARTHALAND CORP 0.91 0.92 0.91 0.93 0.9 0.92 2296000 2096910 17670 44.9 45 45.95 46 44.8 44.9 9939500 447224405 -170613000 AYALA LAND 1.63 1.69 1.64 1.7 1.64 1.7 11000 18160 ARANETA PROP 2.01 2.03 2.01 2.01 2.01 2.01 40000 80400 -4019.9999 BELLE CORP A BROWN 0.79 0.81 0.8 0.81 0.79 0.81 134000 107200 0.84 0.87 0.87 0.87 0.84 0.87 22000 18690 CITYLAND DEVT 0.197 0.202 0.197 0.202 0.197 0.197 190000 37480 CROWN EQUITIES 6.45 6.47 6.48 6.7 6.47 6.47 80600 533283 437118 CEBU HLDG CEB LANDMASTERS 4.82 4.83 4.83 4.84 4.8 4.82 180000 868450 0.57 0.58 0.59 0.59 0.57 0.58 17029000 9812540 30819.9999 CENTURY PROP 0.43 0.435 0.44 0.44 0.435 0.435 630000 274150 CYBER BAY 19.92 20 19.82 20 19.82 19.92 119300 2379274 195206 DOUBLEDRAGON 10.16 10.18 10.24 10.24 10.18 10.18 39000 397740 DM WENCESLAO 0.45 0.455 0.46 0.46 0.45 0.45 350000 157600 EMPIRE EAST FILINVEST LAND 1.54 1.55 1.56 1.57 1.52 1.54 6737000 10399580 -2289280 GLOBAL ESTATE 1.24 1.26 1.26 1.26 1.24 1.24 138000 171140 14.84 14.86 14.84 14.84 14.84 14.84 12400 184016 -106848 8990 HLDG PHIL INFRADEV 1.38 1.4 1.44 1.44 1.36 1.4 2119000 2963130 0.73 0.75 0.76 0.76 0.76 0.76 1000 760 CITY AND LAND 4.7 4.71 4.78 4.79 4.67 4.7 11945000 56302440 -6606450 MEGAWORLD 0.25 0.255 0.27 0.275 0.231 0.255 24230000 6121710 4900 MRC ALLIED 2.03 2.04 2.03 2.04 2.02 2.03 111000 225380 PRIMEX CORP 26 26.2 26.5 26.5 25.8 26 574800 14958915 -5853490 ROBINSONS LAND 0.365 0.375 0.365 0.375 0.365 0.375 750000 273950 PHIL REALTY ROCKWELL 2.2 2.22 2.22 2.22 2.2 2.2 119000 262800 52800 SHANG PROP 3.13 3.21 3.14 3.21 3.1 3.2 300000 936210 -686210 STA LUCIA LAND 2.49 2.5 2.49 2.5 2.44 2.49 234000 576030 4980 SM PRIME HLDG 39.75 39.9 39.7 39.9 39.1 39.9 4391300 174518740 23340315 5.33 5.34 5.49 5.49 5.31 5.34 21100 112706 2675 VISTAMALLS 1.5 1.51 1.5 1.52 1.46 1.5 6548000 9744360 SUNTRUST HOME 7.62 7.69 7.63 7.69 7.59 7.69 4547500 34826197 -19985126 VISTA LAND SERVICES ABS CBN 17.5 17.6 17.62 17.62 17.44 17.5 97000 1699408 5.27 5.28 5.25 5.3 5.25 5.27 130600 690442 GMA NETWORK 0.405 0.41 0.41 0.41 0.405 0.405 90000 36550 MANILA BULLETIN 1910 1916 1917 1919 1881 1910 20495 39073905 -8712000 GLOBE TELECOM PLDT 1102 1104 1102 1110 1101 1102 123840 136670495 -360770 APOLLO GLOBAL 0.039 0.04 0.04 0.04 0.039 0.039 4400000 175600 0.105 0.106 0.106 0.107 0.105 0.105 30000 3180 ISLAND INFO 4.69 4.7 4.67 4.7 4.62 4.69 816000 3818940 23130 ISM COMM NOW CORP 3.09 3.1 3.08 3.15 3.03 3.1 1611000 4977830 -485580 0.305 0.31 0.32 0.32 0.305 0.31 20980000 6572300 193200 TRANSPACIFIC BR 2.83 2.84 2.91 2.91 2.84 2.84 369000 1055120 -74240 PHILWEB 10.12 10.3 10.12 10.12 10.12 10.12 600 6072 2GO GROUP 17.52 18 17.5 17.5 17.5 17.5 500 8750 ASIAN TERMINALS 6.43 6.48 6.53 6.59 6.41 6.48 232700 1502398 -169783 CHELSEA CEBU AIR 91 92.35 91.95 94.3 90.7 91 106320 9698718.5 -3141435.5 INTL CONTAINER 122.3 122.5 123 123 119.6 122.3 589820 71851617 -1793420 LBC EXPRESS 13.54 14.02 13.98 13.98 13.54 13.54 800 10876 0.91 0.92 0.91 0.91 0.91 0.91 106000 96460 LORENZO SHIPPNG 18.44 18.7 18.6 19.3 18.3 18.7 265400 4,931,016( 1,456,216.0004) MACROASIA 1.03 1.14 1.03 1.05 1.03 1.05 18000 18560 METROALLIANCE A 7.9 8.09 8.18 8.18 7.85 7.9 4400 35078 PAL HLDG 1.45 1.49 1.45 1.5 1.45 1.49 264000 386660 HARBOR STAR 1.53 1.64 1.67 1.67 1.6 1.6 5000 8070 ACESITE HOTEL 1.97 2.05 2.04 2.04 2.04 2.04 3000 6120 DISCOVERY WORLD WATERFRONT 0.63 0.64 0.63 0.64 0.61 0.63 3311000 2072870 6.93 7.18 7.18 7.18 7.18 7.18 200 1436 CENTRO ESCOLAR 7.82 8.3 8.3 8.3 8.3 8.3 2000 16600 IPEOPLE 0.67 0.68 0.67 0.68 0.67 0.68 781000 528350 -133800 STI HLDG 2.6 2.61 2.6 2.6 2.58 2.6 256000 663560 -129000 BERJAYA 11.26 11.28 11.3 11.3 11.14 11.28 1033500 11620064 2906902 BLOOMBERRY 2.68 2.69 2.69 2.69 2.68 2.68 13000 34850 PACIFIC ONLINE 2.96 3.06 3.02 3.07 2.96 2.96 716000 2161170 LEISURE AND RES 4.64 5.09 5.09 5.09 5.09 5.09 5000 25450 PH RESORTS GRP PREMIUM LEISURE 0.65 0.66 0.67 0.67 0.65 0.65 1801000 1174530 -240100 ALLHOME 11.5 11.52 11.48 11.54 11.46 11.52 8934900 102786484 15481364 METRO RETAIL 2.34 2.35 2.36 2.36 2.35 2.35 329000 774520 39 39.5 39.6 40 39 39.5 437500 17272410 331710 PUREGOLD ROBINSONS RTL 75.1 75.5 75.5 75.95 75.1 75.1 368640 27907798.5 -766686.5 150 152 149.8 150 149.8 150 750 112400 74900 PHIL SEVEN CORP 2.79 2.8 2.8 2.84 2.75 2.8 1172000 3284160 -191410.0002 SSI GROUP 18.24 18.3 18.36 18.4 18.1 18.3 1752800 32080500 9118114 WILCON DEPOT 0.475 0.48 0.49 0.495 0.47 0.475 7123000 3414050 458010 APC GROUP 8.83 8.87 9 9 8.84 8.84 29500 261737 EASYCALL GOLDEN BRIA 416.2 425 420.4 429.4 419 425 690 290300 3.2 3.35 3.2 3.2 3.2 3.2 1000 3200 IPM HLDG 0.42 0.425 0.45 0.45 0.42 0.425 7820000 3333400 -765900 PRMIERE HORIZON SBS PHIL CORP 8.9 9 8.96 9 8.85 8.85 20300 180780 MINING & OIL ATOK 11.5 11.94 11.96 11.96 11.5 11.94 5800 67066 1.1 1.11 1.11 1.11 1.1 1.11 976000 1077960 APEX MINING 0.0016 0.0017 0.0016 0.0017 0.0016 0.0017 34000000 57600 ABRA MINING 2.56 2.59 2.56 2.59 2.56 2.59 28000 72250 ATLAS MINING CENTURY PEAK 2.53 2.54 2.53 2.55 2.53 2.53 779000 1976500 -185420 DIZON MINES 7.24 7.76 7.23 7.76 7.23 7.76 500 3668 1.79 1.8 1.81 1.84 1.76 1.79 6525000 11680890 82620 FERRONICKEL GEOGRACE 0.208 0.21 0.207 0.215 0.207 0.21 930000 196150 0.104 0.105 0.104 0.105 0.103 0.104 2920000 303200 LEPANTO A 0.105 0.106 0.105 0.106 0.105 0.106 2860000 300330 -257280 LEPANTO B 1.03 1.04 1.02 1.04 1.02 1.04 54000 55950 MARCVENTURES 1.03 1.07 1.06 1.07 1.03 1.07 9000 9540 NIHAO 3.11 3.14 3.32 3.4 3.11 3.11 6667000 21476300 -1958880 NICKEL ASIA 0.495 0.51 0.495 0.51 0.495 0.51 3000 1500 OMICO CORP ORNTL PENINSULA 0.81 0.82 0.81 0.82 0.81 0.82 77000 62380 3.3 3.34 3.36 3.36 3.3 3.3 561000 1866610 330000 PX MINING SEMIRARA MINING 23.55 23.65 23.9 23.9 23.55 23.65 150300 3565370 1766315 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 13000000 153000 0.011 0.012 0.013 0.013 0.012 0.012 20600000 247800 ORNTL PETROL B 0.011 0.012 0.011 0.011 0.01 0.01 12000000 130400 PHILODRILL 13.1 13.14 12.62 13.28 12.4 13.14 2653300 34249566 356968 PHINMA PETRO 12.26 12.28 12.38 12.38 12.08 12.26 305400 3737802 -89806 PXP ENERGY PREFFERED HOUSE PREF A 97.5 99.5 98 98 97.5 97.5 420 41100 503.5 508 508 508 508 508 20 10160 AC PREF B1 101 103 103 103 103 103 110 11330 ALCO PREF C 100.5 101 101 101 100.5 101 261000 26360500 DD PREF SMC FB PREF 2 984 1000 997 997 982 982 50 49450 109.2 111.3 112.5 112.5 112.5 112.5 150 16875 FGEN PREF G 1.01 1.02 1.01 1.01 1.01 1.01 64000 64640 LR PREF 101.5 102 102 102 102 102 8360 852720 PNX PREF 3A 109 109.5 109 109 109 109 10 1090 PNX PREF 3B 1023 1028 1024 1024 1023 1023 1800 1842920 -532480 PNX PREF 4 1030 1050 1030 1030 1030 1030 1105 1138150 PCOR PREF 3A 1050 1065 1065 1065 1065 1065 150 159750 PCOR PREF 3B 1.4 1.72 1.4 1.72 1.4 1.72 2000 3120 SFI PREF 77.95 78 78.4 78.45 78 78 15120 1179553 SMC PREF 2C SMC PREF 2F 76.55 77 76.5 76.55 76.5 76.55 7250 554637.5 75.2 75.25 75.3 75.3 75.25 75.25 19080 1435870 SMC PREF 2G 75.05 75.5 75.1 75.1 75.05 75.05 9800 735740 SMC PREF 2H 75.05 75.1 75.05 75.05 75.05 75.05 37000 2776850 SMC PREF 2I PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

16.9 5.1

17 5.2

17.06 5.09

17.06 5.2

17 5.09

17 5.2

56700 58100

964020 302109

WARRANTS LR WARRANT

1.51

-794020 -51480

1.59

1.52

1.51

19000

28750

ITALPINAS 5.32 12.42 KEPWEALTH 0.94 XURPAS

5.35 12.62 0.95

5.54 13.34 0.97

5.54 13.76 0.98

5.25 12.3 0.94

5.32 12.62 0.95

568700 1939000 5275000

3037344 24894538 5025960

97573 571072 -1900

FIRST METRO ETF

118.6

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 118.1

118.8

118

118.1

3850

455202

82960

www.businessmirror.com.ph

Tiu-led firms Agrinurture, Greenergy post mixed results

By VG Cabuag

@villygc

HE firms controlled by businessman Antonio Tiu had mixed results during the three quarters of the year, with Agrinurture Inc. posting increases in income but its energy firm Greenergy Holdings Inc. suffering a loss. Agrinurture said its January to September income grew 32 percent to P107.31 million, from last year’s P81.26 million. Sales more than doubled to P3.42 billion for the nine months ending September from last year’s P1.55

billion, mainly on exports growth of more than fivefold—P1.49 billion from just P290 million the previous year due to increase in sales volume of banana in the Chinese market and increased volume in shipments for mango and beverage products,

such as canned coconut water, to big potential clients in the United States, it said. Local distribution sales, meanwhile, posted an increase of 7 percent to P102.44 million for the period, from P95.64 million last year, mainly due to improved operations. “The group already has continued its rice distribution to local customers starting last June 2019. Also, its distribution channel continues to gain profits from vegetable distribution operations in supermarket outlets during the period,” it said. Greenergy, meanwhile, had a loss of P208.37 million for the period from last year’s income of P57.36 million, mainly on loss on revaluation of financial assets at fair value through other comprehensive income amounting to P182.30 million, as there is a slight decrease in the

market price of stocks. Revenue recorded for the first nine months of the year is at P1.43 million, which includes agri-tourism revenue and rental income, down from P2.92 million last year. The decrease is due to lower numbers of tourist visitors during the quarter. “The company estimates that its revenue and gross profit margin will improve in the next year when returns on the company’s investments become visible, especially on the increase in service income for agri-tourism and sale of harvests from greenhouse projects in one of its subsidiaries. Also, the following are the investments that will contribute future income and continues to generate sufficient cash flows to sustain operations and complete current and future plans of the group,” it said.

Mine safety, environment natl confab kicks off in Baguio City I

N the wake of the spate of earthquakes that rocked Southern Philippines, various stakeholders, including mining’s big players and allied industries, will gather for the Annual National Mine Safety and Environment Conference (ANMSEC) in Baguio City. Billed as the forerunner in the promotion of occupational safety and health, environmental management and social responsibility, the ANMSEC is organized by the Philippine Mine Safety and Environment Association (PMSEA). The 66th ANMSEC, from November 19 to 22 at the CAP, Camp John Hay Trade and Cultural Center, commemorates 66 years of responsible mining. “We’ve prepared an array of activities that highlights mining’s best practices and commitment to mine safety and environment of membercompanies,” Dr. Walter Brown, president of PMSEA, said in a statement. This year’s gathering is seen as an opportunity for mining companies and and mining-support industries

to affirm their commitment to ensuring mine and environmental safety with the social responsibility to respond to disasters such as the recent Mindanao earthquakes in mind. PMSEA-member mining companies were among the first to respond to the disaster in Mindanao, where a series of strong earthquakes in just two weeks in October claimed the lives of 22 people. The four-day event will be capped by dinners, welcome night and cocktails, mining night for guests and participants. The event will be highlighted by the awarding of the Presidential Mineral Industry Environmental Award (PMIEA) which recognizes the outstanding levels of dedication, initiative and innovation, in the pursuit of excellence in environmental management in mineral development and utilization. This year’s theme: “Culture, Care, Change” highlights the resilience of the industry to the challenges to the minerals development sector around the globe.

PayMaya could break even by 2023–MVP By Lorenz S. Marasigan @lorenzmarasigan

AYMAYA Philippines Inc., the financial technology arm of PLDT Inc., should break even by as early as 2023, as its throughput and user base continue to grow month on month, according to a ranking official. Manuel V. Pangilinan, the chief executive of PLDT, said the digital wallet has been gaining traction over the past few months, and the prospects of it being profitable in the near term is bright. “It should break even cash-wise by 2023, so maybe 2024 we’ll see the light of it. But these are projections,” he said in a chance interview. This is the first time that Pangilinan has given a projected timeframe for PayMaya’s profitability. In the past, he would only cite the need to hit a certain critical mass before making money out of the digital wallet.

“The throughput and the number of accounts and transactions are increasing month on month so we’re optimistic,” he said. According to a 2019 Temasek and Google study on Southeast Asia’s financial technology industry, loans will play the biggest part in driving profits to digital financial institutions in the region. PayMaya has been offering loans to farmers and government employees for years now, but through partnerships with local banks. PLDT holds the largest share in PayMaya. The other investors include KKR, Tencent, IFC and the IFC Emerging Asia Fund. Asked if PayMaya would be getting more investors to further bankroll its future plans, Pangilinan said his group is currently finalizing initiatives for fund-raising. “There’s an effort to raise funding which could finance their next three to five years of operations. It’s looking good,” he said.

The four-day event kicks off with a Holy Mass followed by the opening ceremony for the annual mining exhibition on Tuesday morning. The first day will be highlighted by a Bouganvillea Planting activity

mutual funds

by DIWATA or Women in Resource Development Inc., a nongovernment organization composed of women in mining, advocating the responsible development of the Philippines’s wealth in resources. Jonathan L. Mayuga

November 18, 2019

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 255.57 7.5% 1.17% -0.64% 1.34% ATRAM Alpha Opportunity Fund, Inc. -a 1.4874 9.13% 2.79% -0.29% 3.23% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.8347 4.55% -1.04% -2.47% -1.75% Climbs Share Capital Equity Investment Fund Corp. -a 0.9206 9.01% n.a. n.a. 2.18% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8638 11.67% n.a. n.a. 5.25% First Metro Save and Learn Equity Fund,Inc. -a 5.4028 10.72% 2.57% -0.28% 2.46% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8686 11.06% -1.24% n.a. 3.81% MBG Equity Investment Fund, Inc. -a 111.92 3.67% n.a. n.a. -3.65% PAMI Equity Index Fund, Inc. -a 52.1116 13.38% 3.63% n.a. 5.87% Philam Strategic Growth Fund, Inc. -a 541.87 12.53% 2.36% -0.05% 5.27% Philequity Dividend Yield Fund, Inc. -a 1.3118 10.5% 2.99% 1.14% 4.61% Philequity Fund, Inc. -a 38.555 11.51% 3.92% 0.87% 5.25% Philequity MSCI Philippine Index Fund, Inc. -a,1 1.0329 n.a. n.a. n.a. n.a. Philequity PSE Index Fund Inc. -a 5.3009 14.68% 4.32% 1.92% 6.9% Philippine Stock Index Fund Corp. -a 885.16 14.7% 4.22% 1.84% 6.85% Soldivo Strategic Growth Fund, Inc. -a 0.8864 9.7% 1.91% n.a. 3.07% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.2791 11.13% 3.55% 0.93% 5.43% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 1.0165 14.25% 4.05% n.a. 6.52% United Fund, Inc. -a 3.7127 12.73% 5.35% 2.54% 6.05% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 118.6834 15.04% 4.96% 2.86% 7.17% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9807 4.25% 4.99% -0.38% 5.55% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3238 10.98% 9.14% n.a. 19.78% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5805 -0.94% -2.46% -3.83% -4.28% ATRAM Philippine Balanced Fund, Inc. -a 2.2455 5.43% -0.07% -0.73% 1.64% First Metro Save and Learn Balanced Fund Inc. -a 2.6472 10% 2.46% -1.01% 4.09% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2345 n.a. n.a. n.a. n.a. Grepalife Balanced Fund Corporation -a 1.3466 6.92% n.a. n.a. 3.24% NCM Mutual Fund of the Phils., Inc. -a 1.9681 10.34% 2.99% 1.13% 6.78% PAMI Horizon Fund, Inc. -a 3.8128 13.25% 2.3% 0.39% 8.03% Philam Fund, Inc. -a 17.0598 12.09% 2.14% 0.29% 7.24% 2.04% 1.03% 3.93% Solidaritas Fund, Inc. -a 2.1505 8.45% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8922 10.61% 3.16% 0.76% 6.6% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 1.0232 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 1.0083 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 1.0055 n.a. n.a. n.a. n.a. Sun Life Prosperity Dynamic Fund, Inc. -a 0.9862 9.81% 2.6% -0.13% 7% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03788 9.16% 2.51% 1.87% 7.31% PAMI Asia Balanced Fund, Inc. -a $0.999 7.15% 4.12% 0.13% 9.34% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.8 9.18% 7.09% 3.4% 14.85% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1085 7.54% 4.26% n.a. 10.3% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 356 4.07% 2.68% 2.26% 3.65% ATRAM Corporate Bond Fund, Inc. -a 1.9255 3.98% 0.9% -0.18% 3.57% Cocolife Fixed Income Fund, Inc. -a 3.1046 5.06% 5.26% 5.23% 4.32% Ekklesia Mutual Fund Inc. -a 2.2126 4.2% 2.31% 1.87% 3.92% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3445 6.42% 2.02% 1.48% 6.32% Grepalife Fixed Income Fund Corp. -a P 1.6086 3.12% 1.05% -0.12% 2.83% Philam Bond Fund, Inc. -a 4.335 12.78% 2.37% 1.56% 10.59% Philequity Peso Bond Fund, Inc. -a 3.7519 8.15% 2.51% 1.55% 6.68% Soldivo Bond Fund, Inc. -a 0.9543 8.31% 0.96% n.a. 7.08% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0431 10.73% 4.59% 2.46% 10.03% Sun Life Prosperity GS Fund, Inc. -a 1.6802 10.27% 4% 1.9% 9.11% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $466.22 4.41% 2.49% 2.78% 3.97% ALFM Euro Bond Fund, Inc. -a Є219.58 3.08% 1.53% 1.37% 3.25% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2025 7.19% 2.92% 2.57% 6.82% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0257 3.63% 1.2% 1.21% 3.63% Grepalife Dollar Bond Fund Corp. -a $1.7078 1.18% -0.47% 0.22% 1.04% PAMI Global Bond Fund, Inc -a $1.0931 6.85% 0.95% -0.9% 5.48% Philam Dollar Bond Fund, Inc. -a $2.3833 11.67% 2.89% 2.99% 9.79% Philequity Dollar Income Fund Inc. -a $0.0602246 5.85% 2.15% 2% 5.66% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1453 9.57% 2.39% 2.53% 9.51% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 125.26 4.17% 2.74% 2.12% 3.62% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.0276 n.a. n.a. n.a. n.a. Philam Managed Income Fund, Inc. -a 1.2478 6.11% 2.52% 1.58% 5.58% Sun Life Prosperity Money Market Fund, Inc. -a 1.26 3.82% 2.83% 2.27% 3.35% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0352 2.12% n.a. n.a. 1.9% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,4 $1 n.a. n.a. n.a. n.a. 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."

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

The World BusinessMirror

Tuesday, November 19, 2019

China-US trade talks go on with some signs of progress

Riot police detain protestors at the Hong Kong Polytechnic University in Hong Kong on Monday. Hong Kong police fought off protesters with tear gas and batons as they tried to break through a police cordon that is trapping hundreds of them on a university campus. AP/Ng Han Guan

Protesters try to leave Hong Kong campus but avoid arrest

ONG KONG—For days, Hong Kong’s protesters fortified a university campus to keep police from getting in. Cornered by authorities, they are now trying to get out. Officers repelled one attempt on Monday morning with tear gas, driving a few hundred protesters back into the Hong Kong Polytechnic campus. It’s a game that has played out repeatedly during the city’s months of anti-government unrest. The protesters want to avoid arrest. The police want to pick up as many as they can. Hong Kong’s work week started with multiple protests that disrupted traffic, schools closed because of safety concerns and at least a temporary lull in the pitched battles for control of the Polytechnic campus, as the emphasis shifted from battering the protesters with tear gas and water cannons to waiting for them to come out. Protesters won on a legal front when the high court struck down a mask ban imposed by the government last month. The court said it did not consider anti-mask laws unconstitutional in general, but in this case, the law infringed on fundamental rights further than was reasonably necessary. Many protesters wear masks to shield their identities from surveillance cameras that could be used to arrest and prosecute them. The ban has been widely ignored, and police have charged protesters with wearing masks. The protests started peacefully in early June, sparked by proposed legislation that would have allowed criminal suspects to be extradited to the mainland. But by the time the bill was withdrawn, the protests had hardened and broadened into a resistance movement against the territory’s government and Beijing. Activists see the extradition bill as an example of Hong Kong’s eroding autonomy under Beijing rule since the 1997 handover from colonial power Britain. Anti-government protesters barr icaded themselves inside Polytechnic last week. Police surrounded the area Sunday night and began moving in after issuing an ultimatum for people to leave the area. The crowd wore raincoats and carried umbrellas to shield themselves from police water cannons. Riot officers broke in one entrance before dawn as fires raged inside and outside the school, but they didn’t appear to get very far. Fiery explosions were seen as protesters responded with gasoline bombs. Police, who have warned that everyone in the area could be charged with rioting, reportedly made a handful of arrests. At daybreak, protesters remained in control of most of the campus. In one outdoor area, some demonstrators made gaso-

line bombs, while others dozed while wearing gas masks. Two walked about with bows and quivers of arrows, while many stared at their smartphones. A lull settled on the area as the president of the university said in a video message that the police have agreed to suspend their use of force. Jin-Guang Teng said police would allow protesters to leave and he would accompany them to the police station to ensure their cases would be processed fairly. “I hope that you will accept the proposed temporary suspension of force and leave the campus in a peaceful manner,” he said. It seemed unlikely the protesters would accept the offer given that they would all likely be arrested. A few hundred streamed out of the campus about 8:15 a.m. in an apparent bid to escape, but they were driven back by police tear gas. Some wearing gas masks calmly picked up smoking tear gas canisters and dropped them into heavy-duty bags, but the protesters decided to retreat with a phalanx of officers lined up across the road in the distance. The police have set up a dragnet around the campus to try to arrest protesters, who typically try to melt away after blocking traffic or causing other disruption before police run in to grab as many as they can. Other protesters blocked a major road not far from the Polytechnic campus in a bid to distract police and help those inside the campus escape. They tossed paving stones onto stretches of Nathan Road as police chased them with tear gas. The police issued a “wanted” notice for an injured woman after they say protesters stopped the ambulance, hurled rocks and bricks inside, and removed her from police custody. One police officer fired three shots from his weapon, but the police say the shots did not hit anyone. The 20-year-old woman had been arrested at a Nathan Road intersection for participating in an unlawful assembly. A statement on the police Facebook page said anyone who aided her would face the charge of assisting an offender, carrying up to 10 years in prison. T he road closure added to transport woes during the morning commute, with several train stations still closed because of damage by protesters last week and a section of one line closed completely near the polytechnic. T he Education Bureau announced that classes from kindergarten to high school would be suspended again on Monday because of safety concerns. Classes have been canceled since Thursday, after the bureau came under criticism for not doing so earlier. AP

op negotiators from China and the United States talked again this weekend, after signs of concessions from both sides on some of the outstanding issues.

China’s Vice Premier Liu He, the country’s key negotiator in the trade talks with the US, spoke with Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer by phone on Saturday morning Beijing time, according to the Chinese Commerce Ministry. They had “constructive” discussions about each side’s core concerns in the phase-one deal, and agreed to stay in close communication, the statement said. The USTR confirmed the call took place.

Last week China removed curbs on poultry imports from the US, while the Trump administration is poised to again extend a license that will allow US companies to continue doing business with Huawei Technologies Co., The New York Times reported on Saturday. W hile President Donald J. Trump’s administration signaled talks with China over the first phase of a broad trade agreement are entering the final stages, that is no guarantee that there won’t be another breakdown in talks.

Morgan Stanley sees global economic recovery in 2020

combination of easing trade tensions and easier monetary policy will lift global growth from the first quarter of 2020, according to economists at Morgan Stanley. Emerging markets will drive the recovery, given the late-cycle stage that US growth is in, they argue. “A 1Q20 recovery is on the cards,” the US bank ’s economists led by Chetan Ahya wrote in a note. “Global growth should recover from 1Q20, reversing the dow ntrend of the past seven quarters as trade tensions and monetary policy are easing simultaneously for the first time since the downtrend began.” Risks remain skewed to the downside, including the potential for more tariffs and latecycle challenges in the United

States, including corporate credit risk and uncertainty around the elections. If the Trump administration follows through on its threat to impose additional tariffs on Chinese goods in December, global growth will decelerate further in the final quarter of this year “and the recovery will be delayed until 3Q20,” the authors write. Still, a mini-cycle recovery should kick in next year. Constant interruptions to the global cycle over the past decade have kept a lid on any overheating and helped avert a steep recession, according to Morgan Stanley’s economists. “Hence, with this mini-cycle recovery— the third in the last decade—we believe that the latecycle expansion can be extended,“ they wrote. Bloomberg News

Oil holds near eight-week high on U.S.-China trade deal optimism

il held gains near the highest close in eight weeks on signs of progress toward a breakthrough in the prolonged US-China trade war, while Saudi Arabia set a valuation for Aramco’s initial public offering (IPO). Futures were little changed in New York after rising 1.7 percent on Friday to close at the highest since September 23. Trade negotiators held “constructive discussions” in a phone call on Saturday to address each side’s core concerns surrounding a phase one deal. Saudi Arabia will sell just 1.5 percent of Aramco’s shares and set a valuation target of $1.6 trillion to $1.71 trillion for its IPO. Crude has gained more than 10 percent since early October as Washington and Beijing moved closer to resolving their trade conflict, which has dented global demand. Oil short-sellers slashed their bearish positions on West Texas Intermediate (WTI) by 41 percent in the week ended November 12 on prospects for a trade war truce. “It’s pretty clear that the demand side of the equation is the key and clearly sentiment has boiled down to the impact of the trade deal on economic growth,” said Daniel Hynes, a senior commodity strategist at Australia and New Zealand Banking Group Ltd. in Sydney. “An agreement, which in the best case scenario results in halting additional tariffs, will be viewed as a positive.” WTI for December delivery fell 2 cents to $57.70 a barrel

on the New York Mercantile Exchange as of 7 a.m. in London. The contract added 95 cents to close at $57.72 on Friday, capping a second weekly gain. Brent for January settlement lost 9 cents to $63.21 a barrel on the London-based ICE Futures Europe Exchange. The contract rose $1.02 to close at $63.30 on Friday. The global benchmark crude traded at a $5.42 premium to WTI for the same month.

‘Trigger’ prices

The trade call was held at the request of the US negotiators, and the two sides agreed to remain in close communication, the Chinese Commerce Ministry said in a statement. Saudi Arabia set a valuation target for Aramco’s IPO well below Crown Prince Mohammed bin Salman’s goal of $2 trillion and reduced its size to ensure a successful listing. Demand for what could be the world’s biggest IPO will probably be high, according to analysts. Bloomberg News

White House Economic Adviser Larry Kudlow told reporters late Thursday in Washington that “we are coming down to the short strokes” and are “in communication with them every single day.” Still, he acknowledged a deal was close though “not done yet.” The last stages of trade agreements are often where talks break down, and Trump still hasn’t publicly indicated his approval. The two sides were close to a deal about six months ago, only

for talks to collapse, with the US claiming that China backed away from previous agreements. The two sides have held working-level video conferences focused on issues ranging from the details and timeline of Chinese purchases of US agr icu ltura l goods to commitments to curtail theft of intellectual property that Trump is demanding from China, according to people familiar with the discussions. Bloomberg News

B4 Tuesday, November 19, 2019

Kaspersky and Home Credit provides P1/day android mobile security

Feel Pinas this Christmas at Midas Hotel and Casino

XPERIENCE the warmth of Filipino holidays as Midas Hotel and Casino brings Feel Pinas, a celebration of the rich and vibrant sights, smells and sounds of Filipino Christmas. Marvel at the decors around the hotel featuring native materials that can be found in the 18-foot Feel Pinas Christmas Tree adorned with Capiz lanterns, abaca balls and sinamay, the bahay kubo-inspired gingerbread Belen and houses, the old-fashioned karitela and the iconic Philippine Jeepney in various areas of the hotel. Midas Hotel and Casino General Manager Lily Santos-Adrid led the Christmas Tree Lighting ceremony together with Silungan ng Pag-asa Founder Pastor

Junie Antinero, Enderun Colleges Founder Jack Tuason, Enderun Hotels Senior Vice President Chef Thomas Wenger, Midas Board of Director Mylene Co and Pasay City Mayor Imelda Calixto-Rubiano. The Bayanihan, The National Folk Dance Company of the Philippines and The Kawit Singing Ambassadors wowed guests with impressive performances during the night. The hotel’s Christmas decorations reminded the guests of the joys and sounds of Paskong Pinoy. “Talaga namang wala nang hihigit pa sa Paskong Pinoy. Filipino Christmas is something that we are always happy to celebrate and go back to – friends and family coming over to a bountiful feast, the delicious bibingka or puto bumbong,

the colorful, twinkling parols on your way home and the sounds of children singing Filipino Christmas carols in the village,” shared Ms. Lily Santos-Adrid. True to its theme, the hotel jumpstarts November with a room promo for balikbayans who may visit Lakbay Museo with their friends or family as they stay in a Deluxe Room for Php5,488 nett and Executive Room for Php6,488 nett under the Way Back Home room promo. Midas Hotel has also chosen a charity beneficiary with a similar purpose: to provide shelter to special children. Silungan ng Pag-asa or Shelter of Hope, is a home for cancer-afflicted children from faraway provinces, where they can safely stay while they do their treatments and follow-ups in hospitals in the metro. Donors can use the envelopes by the Feel Pinas Christmas Tree for donations. This advocacy will also be part of the hotel’s Midas Cares program, an internal Corporate Social Responsibility (CSR) project that promotes caring for others more than the tangible gifts or material things. Through this campaign, Midas employees are given opportunities to join this outreach program for different organizations and make giving more valuable and meaningful to other people it seeks to serve.

HROUGH Home Credit, Filipinos can now avail of Kaspersky Internet Security for Android for only one peso per day. Customers who will purchase any Android mobile phone or tablet through Home Credit financing can also avail of the special subscription rate. This is the first time that the premium edition of Kaspersky Internet Security for Android is being offered to the Philippine market. In the cybersecurity company’s recent report, the Philippines ranked 10th in its global list of countries attacked by mobile malware last year. Kaspersky detected and blocked the mobile malware attempts against 26.8% of its users. “We’re happy to partner with Kaspersky in ensuring the security of our customers’ data and devices. Since mobile phones and tablets are vulnerable to cyber-attacks and security threats, it’s really important for us at Home Credit to provide our customers with a security solution that’s both affordable and accessible,” said Franchette Chingcuangco-Cardona, chief marketing and customer experience officer for Home Credit Philippines. “We’re proud of this project. From a retail perspective, this is the first collaboration of its kind and we’re confident that this will help get more Filipinos to consider prioritizing

Enchanted Kingdom Releases New 4D Animated Movie: Happy Family- The Ride

S part of its 24th Anniversary celebration and to kickstart the holiday season, Enchanted Kingdom presents a new animated and immersive trip, “Happy Family: The Ride” movie at the Rialto Theater, Brooklyn Zone. Find out how an ordinary day for the Wunschmann Family turned into an extraordinary adventure. Follow their spooky quest as they find a solution to get back to their normal selves after being transformed into monsters. Can they find a way out of the ghost train that’s under the spell of the evil witch Babayaga? Happy Family: The Ride is produced by MackMedia and will be shown at the Park’s Rialto 4D Theater. Come and watch this unique film only at Enchanted Kingdom. To get to know more about the attraction, visit www.enchantedkingdom.ph. You may also call 0939-935-3535 / (+632) 8 830 3535 or send an e-mail to ekcorpmarketing@gmail.com. To get fresh updates and announcements, don’t forget to like Enchanted Kingdom’s facebook page at www. facebook.com/enchantedkingdom.ph

New ordering app makes LPG delivery easy

O you want to buy LPG products as well as earn points every order, track orders, check order history, rate riders or add a favorite, buy load, pay bills, and refer a friend, through a mobile application? This has been available in Rizal and Antipolo recently and the business innovator would like to share it to the rest of Metro Manila and eventually the whole of the Philippines. Rodelio Santiago, president of AMPLE, a liquified petroleum gas (LPG) distributor in Marikina and Rizal, said his company is taking advantage of the digital business. “One can purchase almost everything online and we thought of why not order his gas using the app,” Santiago said. “We have our own delivery platform, as well as facility and infrastructure,” he added. The company is currently servicing 30,000 customers in Marikina and Rizal. He expects more customer bookings with the launch of the app.

He said the app can recognize the identity of the rider so customers can feel secure and it promotes transparency in the online transactions. Santiago underscored the value of innovation to compete better in the market. “Even though we launched the app and the company invested a huge amount of money, it gives us all the convenience on our part internally,” he said, noting the customers get to process their own orders. Ample is currently in talks to expand its business coverage to Quezon City, San Juan, Mandaluyong, and Pasig. “We are developing the foundation of the system first and foremost, and we are doing this for us to succeed,” Santiago said. “We are a legitimate player of LPG,” he added, noting the company is a clear choice as one of the leading LPG retailers in the areas it covers. The app is available at the Google Play Store and App Store

138 Olive Ridley hatchlings released at Pico de Loro Cove

M Prime’s premier eco-tourism development, Hamilo Coast continues to be a haven for sea turtles. Out of five marine turtle species residing in the Philippines, three can be found in the area – the Olive Ridley, Green and Hawksbill. Approximately 138 newly hatched Olive Ridley turtles were most recently released as of November 2019 to the coastal waters of Pico Beach in Hamilo

Coast. These are always much-celebrated events as the Olive Ridley turtle is the most abundant yet the most vulnerable due to poaching and pollution. More turtle nests are expected to hatch by the yearend. Data from the Hamilo Coast Sustainability Team shows that an average of five (5) nest sightings are recorded per year, particularly during the hatching season of August to December. Actual

nests are indicated by tracks left by the mother turtle. Unfortunately, these traces are easily washed away by rain and waves, hence locating these nests can sometimes be difficult. According to the Hamilo Coast Sustainability Team, “The coves of Hamilo Coast are nesting grounds for these turtles to lay their eggs. We proactively monitor and protect these nests until the eggs hatch and the hatchlings are immediately released. Protecting the nests will help keep predators away, thereby increasing these gentle creatures’ survivability rate and chances of growing to maturity”. Sadly, only 1 in 1,000 hatchlings will survive to adulthood. Turtles mistake plastic for jellyfish, a mainstay in their normal diet. As a result, many turtles die due to suffocation and indigestion truly another strong argument against throwing trash indiscriminately and using single-use plastics. Providing a safe haven for nesting turtles is but one of the many sustainability initiatives of Hamilo Coast. Other programs to sustain and conserve the marine environment include the declaration of select coves as Marine Protected Areas, marine mammal rescue training, and cultivation of true giant clams.

their online security,” said Christopher Sy, president of iSecure Networks, the exclusive distributor of Kaspersky consumer products in the country. From October 15 to November 30, Kaspersky is also giving away tickets to the latest Terminator movie as well as premium merchandise items to lucky Kaspersky customers.

More than 4,000 Overseas Filipino Workers and their families attended the 9th OFW and Family Summit held at World Trade Center in Pasay City spearheaded by Senator Cynthia Villar, family and friends. Photo by RHOY COBILLA

Fuji Haya/LSIS Electrifies the IIEE 44th Annual National Convention

UJI-HAYA Electric Corp. (FHEC) and LSIS Korea joins hands with the Institute of Integrated Electrical Engineers (IIEE) of the Philippines, Inc. for the organization’s 44th Annual National Convention on November 27-30, 2019 at the SMX-MOA in Pasay City. IIEE started in 1975 with 500 members. It is composed of the country’s power experts and now has a membership of 47,000 and counting. FHEC was established in 1979 and has become the biggest manufacturer of top quality power protection systems providing a full spectrum of electrical

engineering services to leading commercial and industrial corporations in the country. FHEC’s strategic partner, LSIS Korea (Leading Solution Industrial Systems) provides world class electrical components and maintains a global presence thru 9 international ventures, 11 overseas branches, and 224 partners in 77 countries. To see more of LSIS and Fuji-Haya Electric Corp.’s industry innovations, visit Booths 71-76 at IIEE’s 44th Annual National Convention. For details, check out Fuji-Haya's Facebook page or their website at www.fujihayaelectric.com.

Sports BusinessMirror

| Tuesday, November 19, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

WOMEN’S FOOTBALL DRAWS BIG CROWD Arsenal players celebrate after Vivianne Miedema scores her sides second goal against Tottenham Hotspur. AP

Argentinian superstar Lionel Messi arrives at the team’s hotel in Tel Aviv. AP

Messi in Israel despite rockets, boycott threats

EL AVIV, Israel—Soccer superstar Lionel Messi finally arrived in sports-crazed Israel on Sunday, after a Palestinian protest campaign derailed his previous visit and the latest round of cross-border fighting in Gaza threatened to scare him off once again. Messi and his Argentine teammates are in the Holy Land to play an international friendly against his Barcelona teammate Luis Suarez and the Uruguay national team. It’s a game that has been just as eagerly anticipated for its political ramifications as it has for its sporting star power. Suarez and his teammates arrived on Saturday after a friendly match in Hungary while Messi touched down Sunday after a direct flight from Saudi Arabia, where Argentina beat Brazil 1-0 in another friendly. A year ago, Argentina abruptly canceled a World Cup warmup match in Jerusalem, saying it was concerned for the safety of its players. The decision followed protests in the West Bank and other countries amid outrage that Messi would play in Israel. Those demonstrations included threats to burn Messi jerseys and brandished images of the Argentina national team’s jersey stained with red paint resembling blood. As a result, the Fifa soccer governing body banned Palestinian soccer federation President Jibril Rajoub for a year for “inciting hatred and violence” against Messi. Monday’s match was nearly nixed as well after last week’s two-day eruption of violence following Israel’s targeted killing of a Palestinian militant commander in Gaza. The Islamic Jihad militant group responded by firing hundreds of rockets into Israel, setting off warning sirens as far north as Tel Aviv—the site of Monday’s match. The fighting killed 34 Palestinians, including 15 civilians. Both Argentina and Uruguay were reportedly on the verge of calling off their participation. But they eventually decided to play following intense, high-profile negotiations with Sylvan Adams, a Canadian-Israeli billionaire who’s responsible for staging the match in Israel. The Palestinian BDS group PACBI condemned Monday’s match, accusing Argentina and Uruguay of crossing the “Palestinian nonviolent picket line, allowing Israel to use the

beautiful game to sports-wash its crimes against Palestinians.” Adams, who describes himself as a “self-appointed ambassador-at-large” for Israel, told The Associated Press that he’s looking to counter the country’s image, and has sponsored previous sporting and cultural events in the country. Last year, he brought the opening stages of the Giro d’Italia cycling race to Israel, and this year he paid more than $1 million for Madonna to perform at the Eurovision song contest in Tel Aviv, overcoming pro-Palestinian calls to boycott the events. The grassroots BDS movement, advocating for boycotts, divestment and sanctions against Israel, notched one of its greatest achievements to date by helping pressure Messi and Argentina out of last year’s match. A spooked Argentine squad bolted at the last moment, even after direct a plea from Prime Minister Benjamin Netanyahu to the Argentina’s President Mauricio Macri asked them to reconsider. Israel’s sports minister Miri Regev was widely criticized for politicizing the event by insisting it be played in contested Jerusalem and by trying to orchestrate a photo-op with Messi. Argentina is among the most popular brands in Israel and Messi, a six-time Fifa player of the year, is an icon here, as well. But the disappointment over the cancellation led many Israelis to root against him in the World Cup and rejoice in Argentina’s early exit. This week’s match was promoted with far less fanfare, and, yet, Middle East politics played a role once again with the deadliest round of violence in Gaza in years. Match organizers were in constant touch with the teams throughout the fighting. Even after an informal cease-fire was reached on Thursday, the game remained in question. But with Uruguay’s head coach already in Tel Aviv, and Israeli soccer players and officials lobbying their South American colleagues, it was salvaged. For Messi, this will be his second match after returning from a three-month ban imposed by South American soccer body Conmebol after he made accusations of corruption following the Copa America tournament in Brazil in July. AP

By Rob Harris

The Associated Press

ONDON—The drive to raise women’s football attendance in England is taking on a more persuasive tone, almost obliging supporters of the men’s game to see the quality on offer. The Women’s Super League (WSL) campaign—“a true fan supports their whole club”— contributed to record attendances on Sunday as the post-World Cup boom continues in England. “It’s quite edgy and a little bit sort of punchy,” Kelly Simmons, director of the women’s professional game in England, said at Tottenham which drew a WSL record crowd of 38,262 for the visit of Arsenal. While hostilities between the north London rivals go back around 130 years in the men’s game, this was their first WSL derby. “It was incredible to be part of it,” said Arsenal captain Kim Little, who broke the deadlock in the 66th minute before Vivianne Miedema sealed a 2-0 victory to stay third in the 12-team WSL. Arsenal brought 3,000 fans across the capital to add to the tribalistic atmosphere being encouraged. “Little things like getting booed when taking a corner was a weirdly nice experience,” Arsenal striker Beth Mead said, “because it’s part and parcel of the game.” Tottenham’s men reached the Champions League final last year, but the club is only a few months into having a fully professional women’s outfit after gaining promotion. “It’s momentous for Spurs Women, to see how far we’ve come,” said Karen Hills, joint manager of a Tottenham side sixth in the standings. “The

players deserve to be playing in front of these big crowds. Hopefully it won’t just be an occasion, hopefully it will be the norm.” The crowd surpassed the 31,213 at Manchester City for the visit of Manchester United on the opening weekend of the season in September. There has been an upward trajectory in attendances since the Women’s World Cup when England reached a second successive semifinal in July. The cumulative crowd across six WSL games on Sunday was 74,247, taking the total after six rounds to 184,926. The figure across the entirety of last season was 107,141. The increased following has been helped by clubs using their main stadiums, like Tottenham’s slick new 61,000-capacity venue that opened in March. Anfield was used for the Merseyside derby on Sunday and 23,500 fans saw fresh struggles for two-time WSL champion Liverpool. While the men’s team is top of the Premier League, their female counterparts are last in the WSL after Lucy Graham’s speculative strike slipped through goalkeeper Anke Preuss’s grasp to give Everton a 1-0 win. “It’s going to hurt us more as we were the better team today and we gave them a goal with a mistake from our keeper,” Liverpool Manager Vicky Jepson said. “It was a goal we chucked in the back of our net. There was no way they were going to score today if we didn’t give them that. “[Preuss] came to me and put her arms around me and apologized for the mistake.” League leader Chelsea opened the season by hosting Tottenham in front of around 25,000 at Stamford Bridge but usually plays at a smaller stadium in south London. For Sunday’s visit of Manchester United to

Kingsmeadow, the crowd of 4,790 was a WSL high for a game not played in a large stadium usually used by the men’s team. It was a contentious victory against the league newcomers. United believed Millie Turner was unfairly penalized for challenging Fran Kirby in the penalty area and Maren Mjelde’s spot kick sealed a 1-0 victory. Chelsea remains a point ahead of Manchester City, which beat West Ham 5-0 in front of 2,145 at a smaller stadium on its Etihad campus. Georgia Stanway scored twice on her 100th City appearance before being sent off. While England is home to Europe’s only fully professional women’s league, players across the continent are still fighting to earn a living. Spanish women’s league players went on strike this weekend demanding better wages and worker protections, leading to eight games being postponed. Players are lobbying for better conditions, including protection in the event of pregnancy.

RECORD ATTENDANCE IN BRAZIL

IN São Paolo, Brazilian women’s soccer set an attendance record on Saturday with more than 28,000 fans at the Arena Corinthians stadium to watch the second leg of the São Paulo state championship final. Corinthians beat local rival São Paulo 3-0 in front of 28,862 fans, Corinthians tweeted. Match tickets had been given out for free during the week. Corinthians won the first leg 1-0. The previous record was in 2017 at Manaus’ Arena Amazonia in the semifinals of the Brazilian championship when Iranduba lost 2-1 to Santos in front of 25,371 people.

Ronaldo stuck on 99 goals, but Portugal in Euro 2020

ARIS—Cristiano Ronaldo will have to wait a little longer for his 100th international goal, scoring only once as defending champion Portugal secured its place at next year’s European Championship with a 2-0 win at Luxembourg on Sunday. The Juventus star needed two goals for a century, but could only bundle the ball in from inches out near the end of a closely contested match on a bumpy and muddy field far removed from the pristine surfaces Ronaldo usually plays on. It moved Ronaldo 10 goals behind former Iran striker Ali Daei, who with 109 goals is the only player in world football to have outscored him on the international stage. Portugal qualified automatically along with Group B winner Ukraine, which was already through and twice rallied to draw 2-2 at Serbia. Serbia needed to win and hope Portugal failed to beat Luxembourg, but must now instead go through the playoffs to try and reach Euro 2020.

There was a century elsewhere, as France Coach Didier Deschamps celebrated his 100th game in charge with a 2-0 win at Albania. It ensured France finished top of Group H ahead of Turkey, which won 2-0 at Andorra. Group A winner England had already sealed its place and took its whopping goal tally to 37 in eight games with a 4-0 win at Kosovo thanks to a late flurry of goals after Harry Winks’s first-half opener. The prolific Harry Kane got England’s second goal on the night to move atop the Euro 2020 qualifying scoring charts with 12 goals, one more than both Ronaldo and Israel’s Eran Zahavi. It was Winks who put England ahead in Pristina after 32 minutes with a neat finish. Kane then made it 2-0 in the 79th before Manchester United forward Marcus Rashford and Chelsea midfielder Mason Mount added late goals. Kane was still comfortably the oldest of the goalgetters—and he’s only 26 years old—with Winks 23, Rashford 22 and Mount just 20. In the other Group A game, Bulgaria beat Czech Republic 1-0 in Sofia thanks to a second-half goal from defender Vasil Bozhikov. Although the Czechs lost to Bulgaria for the first time, they had already qualified for next year’s tournament in second place. AP

Cristiano Ronaldo will have to wait a little longer for his 100th international goal. AP

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Tuesday, November 19, 2019

TSITSIPAS MAKES MARK L

ONDON—Three years after coming to the Association of Tennis Professionals (ATP) Finals as a hitting partner to the top pros, Stefanos Tsitsipas is leaving the tournament as champion. Tsitsipas rallied to beat Dominic Thiem, 6-7 (6), 6-2, 7-6 (4), on Sunday for the biggest title of his career, becoming the youngest champion at the season-ending event in 18 years. “I remember myself watching this event on TV and thinking, ‘Oh, these guys have done an insane year to be playing here,’” said the 21-year-old Tsitsipas, who was making his first appearance at the tournament. ”And now I’m in the position to be champion, so it feels awesome.” It’s been quite a journey for Tsitsipas, who first met Thiem at the O2 Arena in 2016 when he was the world’s top-ranked junior and was invited to be a hitting partner for the ATP Finals participants. ”That is unbelievable,” Tsitsipas said when reminded of that day. “I just remembered [that], first time I met Dominic was I came here as a sparring partner. I think my first hit was with Dominic. It’s unbelievable, isn’t it? We are now facing each other in the final.” It was quite a final, too. The 21-year-old Greek bounced back from dropping a tight first set by racing out to a 4-0 lead in the second, and then held off the Austrian’s

comeback in the third. Tsitsipas couldn’t capitalize on another early break and a 3-1 lead in the deciding set but won the last three points of the tiebreaker, clinching the win when Thiem sent a return wide. ”I missed some very close balls in the tiebreak,” Thiem said. ”But I cannot do anything now about it. It was a great match from both of us.” The win caps a breakthrough season for Tsitsipas, who reached the semifinals of the Australian Open, won two ATP titles and became the first Greek man to break into the top 10. He also leaves London with $2.6 million in prize money for this win and joins a group of young players—including last year’s ATP Finals champion Alexander Zverev and US Open runner-up Daniil Medvedev—who are seen as the top up-and-coming talents and challengers to the sport’s Big Three of Roger Federer, Novak Djokovic and Rafael Nadal. The Greek has already grown quite the fan base, partly because of a Bjorn Borg-style haircut and partly because of an aggressive playing style that is a bit old-school with frequent forays to the net. ”He’s great for tennis, because he has a very attractive game style, one-handed backhand, comes in a lot,” Thiem said. ”It’s great that he’s up on the top. It’s great that he’s going to fight for the big titles in the future. I’m 100 percent sure of that. I’m also very sure of the fact that I can challenge him

in every single match we’re going to play.... I really hope that we’re going to have a lot of big matches coming, the two of us.” Thiem beat both Federer and five-time winner Djokovic in the group stage, but lost another big final after twice finishing runner-up to Nadal at the French Open. This one was much closer than his losses to Nadal, though, which made it tougher to swallow. It is the fourth year in a row that there is a first-time champion at the ATP Finals, following wins by Andy Murray in 2016, Gregor Dimitrov in 2017 and Alexander Zverev last year. Earlier, French duo Nicolas Mahut and Pierre-Hugues Herbert won the doubles title by beating Raven Klaasen of South Africa and Michael Venus of New Zealand 6-3, 6-4. AP

match is vital.” Spain opens against Russia on Tuesday before facing defending champion Croatia on Wednesday in the men’s international team tournament. The matches will be played on hard courts—

Stefanos Tsitsipas becomes the youngest champion at the seasonending event in 18 years. AP

Nadal ready for new-look Davis Cup M ADRID—Top-ranked Rafael Nadal has arrived in Madrid to lead Spain in the new-look Davis Cup Finals. “It’s a new competition, and we must be focused,” Nadal said Sunday. “The first thing is to get familiar with it and to know that each

TWO-PART PSA FORUM TODAY

RAFAEL NADAL: It’s a new competition, and we must be focused. AP

not Nadal’s preferred clay—at the “Caja Mágica” (Magic Box) tennis complex. “We have been put in a tough group and the surface is obviously not our favorite, but I believe that we are all motivated to be as well prepared as possible,” Nadal said.

HE Philippine Sportswriters Association (PSA) will hold a two-part forum on Tuesday on the construction and design of the New Clark City Athletics Stadium for the 30th Southeast Asian Games and the coming Luzon Cup football tournament. Audris Romualdez, managing director of E-Sports International, will grace the 10 a.m. session at the Amelie Hotel Manila to talk about the newly constructed stadium in Capas, Tarlac, that will be used for the November 30-to-December 11 SEA Games. Romualdez will be joined by Nikko David, president of MTD Philippines, builder of the stadium. E-Sports is part of the team that designed, developed and installed the competition and warm-up tracks of the New Clark City Athletics Stadium. Completing the guest list is Negros Occidental Football Association (Nofa) President Ricardo Yanson Jr. He will expound on the Luzon Cup set from November 21 to 24 at the Jose V. Yap Sports and Recreational Park in San Jose, Tarlac. The forum is presented by San Miguel Corp., Braska Restaurant, Amelie Hotel and the Philippine Amusement and Gaming Corp.

Fleetwood tops playoff in Sun City

“Today was my first day of training, and I have been told that the team has been training well, so we hope that we are all in good shape and we can compete well.” Nadal was eliminated in the group stage of the Association of Tennis Professionals (ATP) Finals on Friday in London. The 19-time Grand Slam winner will be joined by Feliciano López, Roberto Bautista Agut, Pablo Carreno Busta and Marcel Granollers. Spain has won the Davis Cup five times, but its last title came in 2011.

The Davis Cup has completely overhauled its format this year, concentrating all its matches in a World Cup-style format played over one week at one site. The 18 teams will play in six groups of three, with the group winners advancing to the knockout stage along with the two best second-place teams. In past years, the competition featured head-to-head matchups played at varied sites over four weekends throughout the year. AP

Kings snap Celtics’ 10-game streak; James, Lakers deal Hawks ugly loss

ACRAMENTO, California—The Boston Celtics were an unlucky bounce away from extending an historic start to their season. Instead, the Sacramento Kings walked away with a huge victory. Buddy Hield scored a season-high 35 points, Richaun Holmes hit two free throws with 13.3 seconds remaining to give Sacramento the lead, and the Kings snapped the Celtics’ 10-game winning streak with a 100-99 victory Sunday. Marcus Smart had a chance to win it for Boston, but his runner in the lane bounced around the rim before trickling off as the buzzer sounded. “The ball just felt like it sat on the rim forever,” Smart said. “I thought it was going in. I think everybody thought it was going in and it just rolled out. It was just one of those games.” The Celtics (10-2) lost for the first time since their October 23 opener at Philadelphia. The only other team in National Basketball Association history to drop its opener and then rattle off 10 consecutive wins was the 1979-80 Milwaukee Bucks. LeBron James scored 12 of his 33 points during a breathtaking opening nine minutes for the Lakers, who raced to a 25-point lead and handed Atlanta its second ugly loss in 24 hours—122-101—at Staples Center. Kobe Bryant watched from courtside as his former team used suffocating defense to fuel an outburst that gave it a 34-9 lead. In a quarter full of highlights, James’s biggest play provided his first points. After JaVale McGee blocked Jabari Parker’s shot, James grabbed the ball, passed to Danny Green and took the return pass for a slam dunk that brought the crowd to its feet two minutes in. Trae Young scored 31 for the Hawks, who were routed 150-101 on Saturday night by the Clippers.

Harrison Barnes had 13 points and Bogdan Bogdanovic added 12 points and 10 assists for the Kings (5-7), who lost a similarly close game two nights earlier to the Lakers in Los Angeles. Hield hit seven 3-pointers and finished just two points off his career high. But Kings Coach Luke Walton was most fired up about Hield’s defense on a day Sacramento held Boston to 42 percent shooting (34 for 82) and just 18 points in the first quarter. “Buddy obviously was spectacular,” Walton said. “We all know he can score, and he’s going to have nights like this. But I thought he was so committed to the team winning. The way he was defending, just his all-around game.” Jaylen Brown scored 18 points and Kemba Walker had 15 for Boston. Jayson Tatum and Daniel Theis each added 14. Down four to start the second half, the Celtics outscored the Kings 29-21 in the third quarter to take a 75-71 advantage entering the fourth. With 13 seconds remaining and Boston up 99-98, Holmes and Smart went to the floor battling for a rebound and Smart was called for a foul that set up Holmes for the free throws. Celtics Coach Brad Stevens challenged the foul call but it was upheld upon a replay review. AP

UN CITY, South Africa—Tommy Fleetwood made three eagles and came from six shots behind to win the Nedbank Golf Challenge in a playoff on Sunday. Fleetwood beat Marcus Kinhult on the first extra hole at Sun City for a fifth European Tour victory and his first at the Nedbank. The Englishman made par and Sweden’s Kinhult a bogey in the playoff on No. 18. Fleetwood surged into contention with a seven-under 65 to take the clubhouse lead at Gary Player Country Club having started the final round six shots off the lead. Kinhult also finished 12 under overall with a closing 68. Kinhult missed the fairway off the tee in the playoff and had to play out of the rough sideways on the way to a bogey five. Fleetwood scrambled for a par to claim $2.5 million, the biggest winner’s prize in European Tour history. He moved second behind Bernd Wiesberger in the Race to Dubai standings with one tournament left in the season, next week’s World Tour Championship in Dubai. The 28-year-old Fleetwood won the Race to Dubai in 2017, and has a chance of being crowned Europe’s No. 1 for the second time in three seasons. Wiesberger finished with a two-under 70 to tie for third with Jason Scrivener and Thomas Detry. They were four shots behind Fleetwood and Kinhult. Defending champion Lee Westwood (71) and home favorite Louis Oosthuizen (75), the first-round leader, were seven under and tied for sixth. Fleetwood’s victory was his first for nearly two years. AP Tommy Fleetwood savors his victory. AP

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sMirror

Tuesday, November 19, 2019

SAN BEDA OR LETRAN? I

T’S all or nothing for San Beda University and Letran in the winner-take-all Game Three on Tuesday of the National Collegiate Athletic Association Season 95 Finals that swung like a pendulum in classic fashion. The no-tomorrow showdown starts at 4 p.m. at the MOA Arena in Pasay City. On one side of the court are the defending champion Red Lions, who hung tough with a

79-76 Game Two win made possible by season MVP Calvin Oftana. On the other side are the Knights, who opened the series with a close 65-64 Game One victory and are hoping to repeat over the same team which they denied of a championship streak in 2015. The Red Lions are gunning for a record 23rd crown while the Knights are seeking to raise championship banner No. 18. This is the fourth straight time that the San Beda-Letran Finals have gone the distance. The Red Lions won deciding games in 2012 and 2013, while

the Knights emerged triumphant in 2015 in a classic Game Three that went into overtime. In Game Two, Oftana played hero by completing a three-point play for a 77-76 San Beda lead with 19.1 seconds left. Letran tried to complete another storybook season, but Bonbon Batiller bungled a potential championship-clinching lay-up in the dying seconds. Clinching a morale-boosting win, Coach Boyet Fernandez hopes his squad will use their Game Two win as fuel for their championship drive.

“I hope we sustain this one. Playing a tough team like Letran will be hard for us but, again, I do thank my players, thank the Lord for this,” Fernandez said. The Lions got a huge break late in the game when Fran Yu, who looked unstoppable in the semifinals and, in the championship round, suffered cramps. But Yu should be in better shape for Game Three. “No one really expected us to be here and go toe-to-toe with them [Red Lions] and also give them their first loss after 32 victories,” said Letran’s Bonnie Tan, who is in his very first Finals as head coach. San Beda and Lyceum of the Philippines University, meanwhile, dispute the juniors title at 1 p.m. Ryniel Berlanga

HONOR FOR PRINCESS D

Jenina Ann Solis makes Centro Escolar University proud.

Title sweeps in WNCAA

entro Escolar University (CEU), Chiang Kai-shek College (CKSC) and Miriam College swept their way to the crowns in Season 50 of the Women’s National Collegiate Athletic Association (WNCAA) basketball tournament held over the weekend. CEU snared its ninth straight seniors crown by dominating San Beda Alabang, 86-61, at the Saint Stephen’s gym on Saturday, and 79-36 the following day at the Umak Gym. CKSC whipped De La Salle Zobel, 94-27 and 83-48, for its fourth straight juniors championship. In the midgets level, Miriam completed a three-peat after beating St. Paul Pasig twice, 57-56 and 57-43. Named Most Valuable Players were CEU’s Jenina Ann Solis (season) and Opeyemi Lawan (finals) in seniors; CKSC’s Karl Ann Pingol (season) and Kristine Cayabyab (finals) in juniors; and Miriam’s Maria Graciella Reyes in the midgets level. In the volleyball tournament, it will be CEU versus San Beda anew as the title holder Lady Scorpions try to keep their championship against the Red Lions. The best-of-three finals begins this Sunday.

PSC launches Mindanao Sports for Peace Caravan

HE Philippine Sports Commission (PSC) and Philippine Sports Institute (PSI) officially opened the Mindanao Sports for Peace Caravan at the Cotabato City State Polytechnic College (CCSPC) Cotabato City on Monday. The caravan, according to PSC and PSI officials, serves as a bridge to peace, an advocacy of President Duterte who said “The language of sports is the language of peace.” The program was launched with the Ate/ Kuya Leadership Training Program that attracted 50 volunteers of the senior Mapeh students of CCSPC. They will assist the PSC and PSI in developing sports activities for more than 500

espite missing three tournaments, Princess Superal still kept her Ladies Philippine Golf Tour Order of Merit (OOM) crown, anchoring her latest feat on a victory, two runner-up finishes and four top 10 efforts in the just concluded seventh season of the country’s premier ladies circuit. The former US Girls’ Junior champion actually needed to endure a long winless run before finally hitting pay dirt at John Hay where she also reigned, then as an amateur, in the circuit’s inaugurals in 2013 in record fashion. But before recording her first and only win last July, Superal had placed second at Splendido and Manila Southwoods, turned in fourth and fifth place finishes at The Country Club (TCC) Ladies Invitational and Beverly Place, respectively, and ended up seventh at Pradera Verde and Mount Malarayat. Counting her joint 21st place stint at Manila Golf, Superal earned P1,164.604, edging 2017 OOM winner Pauline del Rosario, who also missed a number of events but still finished second with P955,082, including a runaway victory at Royal Northwoods. Former Junior World champion Daniella Uy, who rallied to salvage joint fourth in the closing leg at the Party Golfers in Taiwan, placed

ISI RONDINA and Bernadeth Pons ruled the Rebisco Beach Volleyball International Open with a masterful 21-10, 21-16 win over Dij Rodriguez and Dzi Gervacio in an allPhilippines final before an appreciative crowd at the Sands at SM By The Bay on Sunday night. Undefeated in six matches, Rondina and Pons got the needed confidence booster being the country’s best medal hopes in women’s action in the 30th Southeast Asian Games set in Subic next month. “It’s always tough to compete against international teams—they’re taller and more experienced,” said Rondina, a four-time University Athletic Association of the Philippines (UAAP) champion for University of Santo Tomas. “What we did was to gain experience. This tournament helped us prepare for the SEA Games,” she added. Rodriguez and Gervacio, the Philippines’s second team in the biennial meet, gave their

youth in the Mindanao region. PSI Deputy Head Marlon Malbog and PSC Mindanao Head Prof. Ed Fernandez graced the event along with other sports officials. The local government of Cotabato, meanwhile, thanked PSC Chairman William Ramirez for bringing sports to help spread peace in the area. PSC Senior Staff Judith Laygo lauded the CCSPC leadership for its warm acceptance of the program. Ramirez said that Armed Forces of the Philippines Special Services Chief Col. Taharudin Ampatuan himself requested for the PSC’s grassroots program to be conducted in the region as part of the peace process to help resolve the conflict in Cotabato.

The other seeded entries who advanced to Monday’s matches included ninth seed John Yabut and sixth seed Michael Cudiamat. Yabut stopped Roswell Licong, 21-13 21-19, while Cudiamat won via walkover over Joshua Morada. Top-seed Ros Pedrosa faced Vicarlo Buenaventura Jr. in the third round on Monday. Action in women’s singles and men’s doubles also kicked off on Monday. Leading the ladies side are seeded players Jeya Pinlac and Princess Barrientos, along with sixth seeds Gregg Paz and Orlan Ticala will also see action. The tournament serves as a test event for the 30th Southeast Asian Games badminton competitions.

fancied rivals some trouble in the second set, but Rondina and Pons displayed tremendous composure to prevail in the championship match. Efraim Dimaculangan and Rancel Varga, reunited for this tournament, scored a 21-12, 21-18 win over KR Guzman and Jaron Requinton to annex the men’s crown of the tournament presented by Larong Volleyball sa Pilipinas Inc. in cooperation with Beach Volleyball Republic. Not even a power failure could stop Dimaculangan and Varga from winning the opening set in a dominant fashion. Dimaculangan and Varga were leading, 9-4, against Guzman and Requinton when play was stopped. Varga was delighted to follow his success in the UAAP, where he emerged as season MVP and helped UST win the crown last month. Edmar Bonono and Jude Garcia defeated DMM-Thailand 2’s Chaiphichit Khongin and Chairat Hanrasa, 21-18, 21-15, to claim third

Vincent Juico @VJuico Instagram vpjp_j, vince. juico@gmail.com

SPORTS WITHOUT BORDERS

Nash-ty rumor OVER the weekend I read on an online sports web site that former Far Eastern University (FEU) Head Coach Nash Racela is all set to be the head coach of the De La Salle University Green Archers, their fifth coach in six seasons. If it is true then Nash Racela isn’t a bad choice, Racela is an excellent coach. Racela is a DLSU graduate and has always given La Salle coaches in the past, problems adjusting to his offensive and defensive schemes. To me, he seems to have a cerebral, methodical and a surgical basketball mind. He seldom showed any emotion on the FEU sidelines but his body of work speaks for itself. If I’m DLSU management, I’d choose a head coach before the year ends and consider retaining Jermaine Byrd and Gian Nazario so that there is a semblance of continuity in the program. nnn

If Ateneo goes on to sweep University of Santo Tomas (UST) off its feet, and I don’t mean in a romantic way, you’d have to get them into the one of the greatest teams in University Athletic Association of the Philippines history conversation because they swept everyone off their feet. nnn

Princess Superal (second from right) holds her trophy as she poses with Pilipinas Golf Tournaments Inc. Executive Director Narlene Soriano (right) along with (from left) The Country Club General Manager Colo Ventosa, Mario Pagunsan, representing his brother Juvic Pagunsan, and top amateur Eagle Ace Superal. ROY DOMINGO

he was in his base in Japan priming up for the rich Dunlop Phoenix Open starting Thursday in Miyazaki. Receiving his award was brother Mario. Rounding up the LPGT OOM top 10 are

SISI-BERNADETH SHOW AT SANDS S

Laborte in easy badminton win ECOND seed Lyrden Laborte made short work of Miles Aguilar, 21-8, 21-6, to open his campaign on a bright note in the Smart National Badminton Open on Sunday afternoon at the Muntinlupa Sports Complex. The 15-year-old Laborte, a secondgeneration athlete, booked the victory in only 20 minutes. He advanced to the third round of the men’s singles open division against Christian Selga, who beat Vinz Zafra, 16-21, 21-16, 21-15. Former national team and De La Salle standout Gerald Sibayan also moved into the third round at the expense of Aaron Prieto, 21-7, 21-13. He survived Guillian Rodriguez later in the afternoon, 20-22, 21-14, 21-10.

third with P920,644 in winnings followed by 2016 OOM titlist Chihiro Ikeda (P836,745) and Southwoods leg winner Thai Thanutra Boonraksasat (P613.744). “This is sweet and it means a lot to me,” said Superal, adding that she actually didn’t expect to score a repeat given the quality of competition where the Thais reigned at Manila Golf (Arpichaya Yubol), Mount Malarayat (Nemittra Juntanaket) and Boonraksasat (Southwoods) with Korean Hwang Min Jeong winning at Splendido and Summit Point. “It was really surprising but I promised to do better and try to win more tournaments next season,” added Superal, who will be trying to match Cyna Rodriguez’s three-peat feat from 2013-15. Superal shared the spotlight with sister Eagle Ace, who bagged the best amateur title, and PGTI General Manager Colo Ventosa, also the GM of TCC, named as the best host venue following its successful staging of the first TCC Ladies Invitational which featured no less than the then world No. 1 Sung-hyun Park of South Korea. Juvic Pagunsan had earlier clinched the PGT OOM diadem by posting a couple of records, vying in just five of nine tournaments and winning four in consecutive fashions. But the region’s former No. 1 missed the awards rites as

place, completing the Philippines 1-2-3 finish in the men’s division. Hong Kong’s Yeung Wai Yan and Koo Yung Yung scored a thrilling 22-20, 21-23, 15-13 win over New Zealand’s Renei Ursem and Olivia Macdonald to claim third place in the women’s division.

Dottie Ardina (P703,000), Thais Pimpadsorn Sangkagaro (P643,777), Chakansim Khamborn (P530,586), Yupaporn Kawinpakorn (524,070) and Hwang (P483,676).

PBA ACTION AND DONATION

As NorthPort import Michael Qualls tries to shake off Barangay Ginebra San Miguel Stanley Pringle, during Batang Pier’s 98-96 victory over the Barangay Ginebra San Miguel Gin Kings in the Governors Cup on Sunday night at the Smart Araneta Coliseum, Commissioner Willie Marcial leads a ceremony where the Philippine Basketball Association donates P1 million through Alagang Kapatid Foundation on Saturday for the Davao earthquake victims.

THERE are reports that former DLSU Head Coach Juno Sauler is being considered or one of those being considered for the head coaching job at University of the Philippines. Sauler won a UAAP title as coach in 2013. Sauler is another coach who doesn’t show a lot of emotion on the sideline. He’s calm and collected when talking to his players even in pressure situations. UP’s off-season situation is interesting because they’ll be losing more than half of their team to either graduation or a change in their program’s direction and a new voice coaching the team’s direction so we’ll see what happens. nnn

Aldin Ayo of UST is on his third finals in four years. He must be doing something right with all that mayhem. They need vary their defensive principles against Ateneo to keep them off-balanced. Maybe they should try a little man to man which took them out of their comfort zone in the two games against La Salle, wherein DLSU played them straight up man-to-man for 40 minutes. Good strategy, but I’m not sure if it’s something the players can sustain for 40 minutes.

Squash goes to Manila Polo Club

NEW squash facility may not be available for the country’s hosting of the 30th Southeast Asian Games, but squash President Robert Bachmann remained grateful to the Philippine Sports Commission (PSC) for providing the association a place it could call home. Bachmann admitted that the delays of the completion of squash facility at the Rizal Memorial Sports Complex (RMSC) hampered their chances in the prestigious biennial meet set to start on November 30 at the Philippine Arena in Bocaue, Bulacan. The association was forced to cancel two events— jumbo doubles and mixed doubles—where Filipinos have a golden chance of winning, leaving only five events on the SEA Games

program—men’s and women’s singles, men’s and women’s team, and mixed team. The squash facility would be finished in March next year, forcing the Squash Rackets Federation of the Philippines to move to the Manila Polo Club in Makati City. PSC Chairman Butch Ramirez said earlier that the squash court at RMSC is not being built for the SEA Games. “Yes, it is unfortunate that the facility being constructed inside Rizal Memorial will not be completed in time for the SEA Games,” said Bachmann, who used to lead the powerful membership committee of the Philippine Olympic Committee. “But, at the same time, we’re also lucky because we now have a place we can call home. We have been renting competition and training venue for the longest time and through the effort of the PSC, we were finally given a new facility that we can use in future event.” The Philippine team to the Games include Jemyca Aribado, Robert Garcia, Reymark Begornia, Alyssa Dalida, David Peliño, Christopher Buraga and Jimmie Avila.

By Mauricio Savarese The Associated Press

ãO PAULO—Red Bull’s Max Verstappen won Formula One’s Brazilian Grand Prix on Sunday for his eighth career victory in a race which ended badly for both Ferrari drivers. It also finished poorly for six-time world champion Lewis Hamilton, who caused Red Bull’s Alexander Albon to spin near the end and deprived him of his first podium. A post-race five-second punishment for Hamilton demoted the Mercedes driver from third to seventh place. Brazil marked Verstappen’s third win this season, after victories in Austria and Germany. He started from pole position in São Paulo— the second pole of his career. The result moved the 22-year-old Verstappen to third place in the driver’s championship, already won by Hamilton. Verstappen is 11 points ahead of Ferrari’s Charles Leclerc with only the Abu Dhabi GP on December 1 to go. The victory in Brazil gives some relief to Verstappen, who in 2018 led here for much of the race but finished second after touching backmarker Esteban Ocon’s car. The Dutch driver had an angry altercation with Ocon afterward, and the race was won by Hamilton. This year was different, with Verstappen appearing mostly unstoppable all weekend long. Unlike the Ferraris. A dramatic late collision on the 66th lap at Interlagos between four-time champion Sebastian Vettel and Leclerc happened when they were fighting for fourth position. Both failed to finish. On team radio, Vettel blamed Leclerc for a puncture that caused him to stop. Leclerc was forced out shortly after. The light contact gave Vettel a right-rear puncture, while Leclerc had a broken suspension. After the race, both drivers said they were “disappointed,” but refused to expand on what had happened between them. Toro Rosso’s Pierre Gasly came second for his first F1 podium, only 0.062 seconds ahead of Hamilton before his penalty. After Gasly was demoted from Red Bull earlier this season back to feeder team Toro Ross with Albon promoted in his place—it was a poignant podium for the French driver and he screamed with delight after crossing the finish line. In a race watched by more than 70,000 fans, Hamilton and Albon had fought for second place with only two laps to go, and Hamilton’s punishment gave McLaren’s Carlos Sainz third place. Sainz had started from 20th on the grid and, like Gasly, it was his first F1 podium. Hamilton said Verstappen was “just quicker than us on the straights” and “there was nothing more we could do.” He was overtaken twice by slick Verstappen moves in the little time he spent ahead—after a pit stop and after a safety car. “Lewis was very quick so I had to keep pushing...we had two good moves with him, and from there onward I could control the race,” Verstappen said. “It is always good to

VERSTAPPEN TOPS IN BRAZIL Sports BusinessMirror

| Tuesday, November 19, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

The result moves the 22-year-old Max Verstappen to third place in the driver’s championship. AP

race against the world champion.” Hamilton quickly apologized to Albon for their collision. “I totally accept the blame,” said the British driver. “In hindsight I could have waited.” The 23-year-old Albon finished 14th. “I know how that feels,” Hamilton said about the missed first podium. “I apologize to Alex.” Sainz, whose previous best finish was fourth place, was not totally sure how to celebrate his unexpected podium. “A bit weird not being there after the race,

FERRARI’S TROUBLES DEEPEN

ãO PAULO—Ferrari hoped the Brazilian Grand Prix would bring some relief after poor performances and even accusations of cheating from opponents. Instead, the Formula One team ended the weekend with a collision involving its two drivers as they fought for only fourth place at Interlagos. Sebastian Vettel looked strong starting from second in Sunday’s race. Charles Leclerc, who began from 14th position because of an engine penalty, jumped to sixth in only 11 laps in São Paulo. It was too good to last.

The two Ferrari drivers faced off on Lap 66 after a safety car restart, and contact between the cars gave Vettel a right-rear puncture, while Leclerc had a broken suspension. Both failed to finish. “It is very disappointing for the team,” Vettel said after the race. Leclerc said he wanted to see footage of the crash before reaching any conclusions. “It was a great race before that. But we can’t draw anything positive from this race,” he said. Their exit allowed Red Bull’s Max Verstappen, the winner in Brazil, to jump to third place in the driver’s championship. He is

Pit crew work on the car of Sebastian Vettel during the Brazilian Grand Prix. AP

but still extremely happy. Today’s race was just unbelievable. The one-stop strategy was difficult but paid off,” the Spaniard said on Twitter. Gasly will also remember this day for a long time. Sportingly, he even celebrated with some of his former Red Bull engineers and mechanics. “It is the best day of my life,” Gasly said. “It was quite an intense finish, but quite incredible too. You get used to the podiums in the lower series. My last was at F2 in 2016. My first podium in F1 is just insane.” Hamilton had already secured the

season title in the previous race in the United States. His Mercedes teammate Valtteri Bottas, who did not finish the race, had also secured the runner-up spot. Sunday’s race was also marked by several tributes to Brazilian racing hero Ayrton Senna. His nephew Bruno drove his championship-winning McLaren around the track before the race to honor the three-time F1 champion in the 25th anniversary of his death at the San Marino GP.

11 points ahead of fourth-place Leclerc with only the Abu Dhabi GP on December 1 to go. Vettel is 30 points behind Verstappen and cannot claim a top 3 spot any longer. Ferrari will also finish the season far behind Mer cedes in the constructors championship. Earlier this month at the United States GP, Leclerc finished almost a minute behind race winner Valtteri Bottas of Mercedes. Vettel retired early. After that race, Verstappen suggested that Ferrari had been “cheating.” The Red Bull driver said on Dutch TV that the Italian team’s performance dipped at Austin because of a FIA directive on fuel flow systems. Ferrari boss Mattia Binotto said the directive had no impact on the team’s engine.

After the Brazilian GP Binotto said “both of them [Vettel and Leclerc] have got at least a small percentage of responsibility” for the clash. “At the end, they were free to fight,” Binotto said. AP

KAP’S WORKOUT

Free agent quarterback Colin Kaepernick participates in a workout for National Football League scouts and media over the weekend in Riverdale, Georgia. AP

São Paulo bids to keep Interlagos on 2021 calendar

ão PAULO—São Paulo authorities made their case to Formula One owners on Sunday to keep the traditional Interlagos track on the calendar for another 10 years after its contract expires in 2020, and even had three-time champion Jackie Stewart join their pitch. State Governor Joao Doria said in a news conference that a decision on the future of the race could be made in December after he delivers São Paulo’s offer to F1 CEO Chase Carey. The track is facing considerable competition for the right to host the Brazilian GP from Rio de Janeiro, which has bid to replace Interlagos at a yet to be built track. The Rio proposal is supported by Brazil’s President Jair Bolsonaro. Flanked by Stewart and Carey, the São Paulo state governor said negotiations involve the payment of F1’s racing fee, which only the Brazilian and Monaco GPs currently do not make among the calendar’s 21 current races. Doria said that if it needs to start paying it, the fee will be privately funded, but did not give more details. “This is the most adequate place to keep the GP,” he said. “We have a tradition of 38 years, drivers like the track, they think it is one of the best in the world.” Red Bull driver Max Verstappen won Sunday’s race at Interlagos for his eighth career victory. Carey said a decision on the future of the Brazilian Grand Prix may not be made until the middle of 2020. He added that the racing fee will not be the main consideration in deciding whether to keep the race at Interlagos or move it to the country’s postcard city of Rio. Earlier this year Carey received Rio’s bid to build a track at a former military area where more than 200,000 trees are growing. No environmental licenses have been issued so far and construction is ongoing, but company Rio Motorpark says it can finish the project in 17 months. “We certainly hope to continue racing in Brazil for a long time,” Carey said. “We just recently completed our renewals for 2020. We are now turning to 2021, putting a calendar together.” After six-time champion Lewis Hamilton voiced environmental concerns over Rio’s bid, former driver Stewart also added his weight to São Paulo’s campaign to hang on to the race. “What you’ve done here is great. It is São Paulo that has developed most of the [best Brazilian] drivers, there must have been someone here that was a great leader of karting,” Stewart said. “I hope that it will continue. Brazil is an important place around the world, and motor racing is part of it. AP

Mighty God

EAR God, You founded Your Church upon the faith of Your apostles. In company with Simon and Jude we pray: Oh God, animate us by Your Spirit. Renew our hope in Christ, and inspire us to encourage faith, hope and love in one another. Arouse Your Church to work on behalf of the needs of rural communities. Give perseverance and joy to those who follow you in a monastic or apostolic religious vocation. May God bless us with peace and favor us with hope in time of need, through Christ our mighty Savior. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

❶ INTERIOR

designer Raquel Mothe of Mothe Design shows a laundry room designed by Mothe in Fort Lauderdale, Florida. This laundry room includes plenty of storage with cabinets by Ornare, as well as recessed ceiling lighting and natural light, creating a space that’s welcoming and also functional.

Life

CIRCLES: THE RETURN OF JOE BAUTISTA D4

BusinessMirror

Tuesday, November 19, 2019

PHOTOS: AP

❷ A LAUNDRY

room designed by interior designer Brian Patrick Flynn. He used a chandelier and patterned wallpaper to create a warm, inviting space. Flynn advises homeowners to have fun with color and patterns as they decorate a laundry room, adding art and other objects to make the space more personalized and appealing.

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Drab and boring? Not these laundry rooms

BY MELISSA RAYWORTH The Associated Press

OING laundry is a relatively boring task. But it doesn’t have to be done in a drab, boring room. With a few strategic changes, even a small laundry room can become a space that’s appealing to be in and can double as a room for other activities, too. “Laundry rooms don’t need to be a space that we apologize for anymore,” says New York-based interior designer Deborah Martin. Here, Martin and two other designers—HGTV’s Brian Patrick Flynn and Miami-based Raquel Mothe, of Mothe Design—offer advice on turning a basic laundry room into a space you love. LOCATION, LOCATION ESPECIALLY in older homes, one of the least convenient things about the laundry room is where it is—often far from where laundry gets generated. If you’re remodeling, Flynn says, consider relocating your laundry room as close to the master bedroom as possible. In fact, make it part of your master bedroom closet, if there’s enough space. “This makes it way easier for homeowners to tackle their laundry without having to then bring it back and forth across the house,” he says. And though it’s a splurge, it’s worth considering

having more than one space where laundry gets done. When working on new luxury home projects, Mothe says, she often includes one laundry room on the house’s main level for cleaning things like small rugs, pet toys, pool towels and other household items. She puts another laundry space with similar design and the same machines on the second floor near the bedrooms. GO BRIGHT AND BOLD HAVE fun with color and pattern, the designers say. Mothe rarely uses white for a laundry room, aiming for a cozier vibe. If there are colors you love but think are too bright for other rooms, Flynn suggests using them in your laundry room. It’s also a great place for patterns that seem too much for a living room or bedroom. Wallpaper’s a good way to do that. “Nine times out of 10,” Flynn says, “I find that simply adding wallpaper to a laundry room or laundry closet instantly makes it feel more inviting.” If you’re updating the floor, Martin suggests creating a cheerful space with an interesting tile design. HELPFUL DETAILS MARTIN and Mothe both advise including a really large sink in a laundry room. And Martin suggests adding a drain in the floor. “We never plan for accidents, but accidents

SHANG Properties Inc. and Vivelya Development Co. Inc. opens the latest hub in Makati. Leading the Assembly Grounds at The Rise ceremonial toast: (from left) Miguel Feuermann, property management director, Shang Properties Inc.; KC Koay, senior project director, Shang Properties Inc.; Aurora Yap-Yu, president, Vivelya Development Co. Inc.; Karlo Marco Estavillo, chief operating officer and chief finance officer, Shang Properties Inc., Corazon Yap, Vivelya Development Co. Inc.; Lala Fojas, executive vice president and general manager, Shangri-La Plaza Corp.; Giggio Jugo, executive vice president, Shang Properties Inc.; and Wilfred Woo, executive director, Shang Properties Inc.

happen,” she says. Martin also recommends built-in bins or baskets for separating clothes. Also: Have plenty of space for drying items that you won’t be putting in the dryer. “Let’s say you are washing a silk blouse that you are not sending to the dry cleaners,” Mothe says. Install a bar with hangers or a retractable hanging rack. Mothe also adds drying racks for clients who will be washing things like sneakers and other shoes. BEST LIGHTING LAUNDRY rooms need plenty of light, and that can include what designers call “statement lighting”— something gorgeous that brightens the room and adds a dose of style. Flynn suggests adding a pendant light or even some kind of chandelier, if space allows. Recessed ceiling lighting is also helpful, Martin says, especially over areas where you’ll be trying to get out a stain or sorting clothes. And if you’re doing new construction or remodeling, Martin says, give your laundry room plenty of windows. Even if we’re just doing laundry, she says, “we can enjoy a little light. We can enjoy a view.” STRATEGIC STORAGE DON’T forget to add a few tall cabinets for things like brooms or ironing boards, Mothe says. And she thinks it’s worth investing in high-quality countertops.

A detail like that, she says, can “make a difference between the regular laundry and the luxury one.” If your laundry room also includes open shelving, Martin suggests storing items in apothecary jars or large Mason jars. “They’re a nice option to store stray things like collar stays, misplaced buttons or even detergent pods,” she says. “There’s no reason we can’t put our detergent in something pretty.” But do add plenty of closed storage, since much of what you may be storing probably isn’t especially attractive, Flynn says. “Concealed storage is super important, especially counter-to-ceiling when possible. There are so many essential supplies involved with laundry and not many are aesthetically pleasing,” Flynn says. “Keeping everything behind cabinet doors is key.” CONSIDER OTHER USES MARTIN has one client who uses her laundry room to cut and arrange fresh flowers. So the room was designed with extra storage space related to that hobby. If you’re building or remodeling, consider expanding your laundry area’s size and purpose, perhaps combining your mudroom and laundry room. This is especially good “for active families with kids and pets,” Flynn says. “I’ve found that the more space allotted to a laundry room,” he says, “the less of a task space it becomes and the more of a social space it begins to feel like.” ■

OLGA BALAIS-FRANCISO (left), general manager of CESAR JOSE JESENA (from left), head for Tenant Management Division of Shangri-La Plaza; Lala Fojas, executive The Rise Makati; and Frank Calubaquib, operations vice president and general manager, Shangri-La Plaza; Wilson Chu Sr., chairman and president of Breadtalk; Len manager of The Rise Makati Coro and Karen Fernandez of Shangri-La Plaza

Assembly Grounds at The Rise gives NOMA its own community mall THE newest community hub nestled at the heart of North Makati, Assembly Grounds at The Rise (www. facebook.com/AssemblyGrounds) formally opened its doors on October 28, and executives from the Shang Properties Inc. (SPI) and its realty partner Vivelya Development Co. Inc. led the launch and welcomed guests to NOMA’s newest hangout. Wilfred Woo, executive director of SPI, said in his opening remarks how the two-story lifestyle complex mirrors the youthful spirit of the emerging NOMA community, which is known for its vibrant art, music

and food scene—all a stone’s throw away from Makati Central Business District. “With its especially curated restaurants and stores, Assembly Grounds caters to its guests’ needs, be it convenient shopping destinations, delicious dining options, or spots for rest and relaxation. It’s a place where they can balance home and work, delighting in the unexpected and forming connections that matter,” he said. “As we formally open Assembly Grounds to the public, we look forward to becoming a place this new community can

develop around. The future of Makati is right here in NOMA, and we can’t wait to be a huge and active part of that,” Woo added. Joining Wilfred Woo for the ceremonial toast were SPI executives Karlo Marco Estavillo, chief operating officer and chief finance officer; Giggio Jugo, executive vice president; KC Koay, senior project director; and Miguel Feuermann, property management director. Lala Fojas, executive vice president and general manager of Shangri-La Plaza Corp., also took part in the toast, along with Vivelya Development Co. Inc.

representatives Aurora Yap-Yu and Corazon Yap. Hosted by popular radio DJ and sports analyst Bea Fabregas, the neon-themed launch showcased Assembly Grounds’ carefully curated selection of establishments, from restaurants and cafes to retail stores and service outlets. Guests including NOMA residents and lifestyle personalities Aryanna Epperson and Lance de Ocampo were treated not only to a night of sumptuous food and drinks but also to great music by DJ Nix Damn P, a go-to DJ of Manila’s party crowd.

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Marie Kondo’s doing what she can to make your kids tidy Author and television personality Marie Kondo poses for a portrait to promote her children’s book Kiki & Jax: The LifeChanging Magic of Friendship. AP

By Leanne Italie The Associated Press

EW YORK—Not even Marie Kondo can follow all her rules for tidying all the time. “Of course, when things get very busy, I need to let go of some of my standards and methods, and I think that’s a completely natural thing,” the decluttering guru, Netflix reality star and mother of two told The Associated Press. The soft-spoken Kondo was tightlipped on exactly what she lets slide, besides leaving her house slippers in the middle of the floor occasionally, but one thing’s for sure: When it comes to Kondo, the emphasis is on busy these days. Kondo has amassed an empire by urging the world to decide if their belongings “spark joy” and has expanded her reach, yet again, with her debut children’s picture book, Kiki & Jax: The Life-Changing Magic of Friendship, cowritten and illustrated by Salina Yoon. For grown-ups who fight chaos on the job, she has partnered with organizational psychologist Scott Sonenshein on a new book due out in April, Joy at Work: Organizing Your Professional Life, aimed at sorting out desks, schedules and inboxes. Kondo and the first season of her Netflix series, Tidying Up with Marie Kondo, were nominated for two

Emmys this year, with no wins. While discussions are under way for a second season, she has slowly gone about dispensing advice on a broader range of lifestyle topics, from knowing when a relationship no longer sparks joy to making the perfect bento box for kids. Later this month on her web site, www.konmari.com, she’ll start selling some of the things that spark her own joy at home but are made by others, such as her favorite incense and rice cooker. And in the last year, she has expanded her network of KonMaricertified consultants to about 300 in more than 30 countries. With Kondo’s Netflix show came a move to Los Angeles with her husband and daughters, ages four and three. It was her second time living in the United States—the first was a stint in San Francisco. The families she helped on Netflix were all in the Los Angeles area, including Wendy and Ron Akiyama. She said the empty-nesters posed the greatest challenge during the eightepisode season with their mountain of clothes, out-of-control Christmas decorations and boxes stuffed with thousands of baseball cards. “There was so much stuff,” Kondo said through a translator during a recent interview. “I’ve tidied up a lot of messy homes in Japan, but they tended to be quite small. On this American

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Jodie Foster, 57; Meg Ryan, 58; Allison Janney, 60; Ann Curry, 63. Happy Birthday: Hit the reset button, and review what you’ve done. Consider what’s worth keeping. Cleaning house will result in better insight into what’s possible moving forward. The change will spark enthusiasm for doing something that makes you feel alive. Face your demons head-on, and make an effort to improve your life physically, emotionally and spiritually. Your lucky numbers are 5, 11, 21, 27, 37, 45, 48.

ARIES (March 21-April 19): Explore your options, pick up information, boost your qualifications or change your image to suit a new adventure. Branch out and see what life has to offer. A physical change will boost your confidence and push you to master something you enjoy. HHHHH

TAURUS (April 20-May 20): An unexpected turn of events will end up surprisingly well. Getting together with someone who can offer you information or point you in the right direction will encourage you to make a move you weren’t anticipating. Follow your heart. HH

GEMINI (May 21-June 20): A heart-to-heart discussion will lead to new beginnings. You can resolve business or personal problems using charm and persuasion. Invest in yourself. You’ll be able to turn one of your skills into a moneymaker. Do things right the first time. HHHH

CANCER (June 21-July 22): Your mind may be on socializing, but it should be on work, money and success. An exciting proposal will lead to a partnership that looks like a good fit. Go over essential details first to avoid a setback later on. HHH

LEO (July 23-Aug. 22): You’ll be tempted to overspend or be too generous. You can’t buy love and expect to gain respect. Be a straight shooter when it comes to what you want and what you are willing to offer. HHH

VIRGO (Aug. 23-Sept. 22): Get out of the house to avoid tension or temptation. Attend a function that will give insight into trends or possibilities. Someone you connect with will offer you a deal that could change your life. HHH

Continued on D3

LIBRA (Sept. 23-Oct. 22): A decision you make won’t be accepted by everyone. When faced with opposition, rely on your charm to persuade others to at least try doing things your way. Romance is in the stars and will improve your life. HHHH

Dwell on the solace of prayers with Fr. Tito Caluag’s ‘Give Thanks and Praise’ book Educator, newspaper columnist, and spiritual adviser Fr. Tito Caluag has launched his first book, Give Thanks and Praise, a collection of prayers and devotions published by ABS-CBN Books aimed at bringing inspiration and encouragement to readers. The new read, launched on November 12 at the Sacred Heart Chapel in Power Plant Mall, features an extensive collection of traditional Catholic prayers. It also includes prayers for personal intentions, prayers for healing, and prayers for special occasions and blessing accounts written by the ABSCBN chaplain. Three more reads of the same kind, also by Tito, are slated to be released next year—a guide on Holy Week; a book on love, courtship and marriage; and a book of retentions. “In the end, our prayer is [that] these collections, this line of inspirational and spiritual books, would lead all of us back to pray. I’m convinced that prayer lies at the center of our lives. And, hopefully, prayers will guide us in everything that we do,” Tito said.

Today’s Horoscope

SCORPIO (Oct. 23-Nov. 21): A couple of adjustments to the way you live will help you feel more at home in your surroundings. It’s OK to be different, as long as your motives are honorable and you are willing to be responsible for your actions. HH

SAGITTARIUS (Nov. 22-Dec. 21): Put more thought into how you look, how you treat others and who you associate with. Traveling will be a learning experience. Make sure you have upto-date documentation. Choose to keep the peace if tempers start to mount. HHHHH

CAPRICORN (Dec. 22-Jan. 19): Take care of personal matters. Deal with authority figures, and put any issues that could interfere with your plans to rest. A past partner will have something interesting to offer. Reach out and see what’s up and how you can be of assistance. HHH

FR. Tito Caluag, author of Give Thanks and Praise

ABS-CBN Head of Print Publishing Mark Yambot emphasized how gratifying it was to finally publish a book like this one, as the company further expands its diverse range of reads. “ABS-CBN Books is more known for its popular fiction and humor titles, so it gives our team a feeling of fulfillment whenever we publish books that

The Agoncillo family: Ryan, Judy Ann and Luna, at the launch of Give Thanks and Praise

inspire and uplift the human spirit,” he shared. Couple Judy Ann Santos and Ryan Agoncillo, together with their daughter Luna, supported the launch by reading some of the prayers found in the book. Also part of the program were former PBB Otso housemate Rhys Miguel Eugenio, who read Saint Ignatius’ Prayer for Generosity, and

Michael Shimamoto, who sang “Peace Prayer of Saint Francis.” Tito is now part of the roster of inspiring authors under ABS-CBN Books, the publishing arm of the leading media and entertainment company, ABS-CBN. Give Thanks and Praise is available online, and in leading bookstores and newsstands for only P225.

AQUARIUS (Jan. 20-Feb. 18): Don’t trust hearsay, or take anything or anyone for granted. Go to the source, and find out the details firsthand. Put your money and possessions in a safe place. An unexpected financial or legal change needs to be addressed immediately. HHH

PISCES (Feb. 19-March 20): An unusual offer, gift or gain will take you by surprise. Don’t let someone from your past interfere in your affairs. Choose to help people or organizations that interest you. Avoid indulgent behavior or promising more than you can deliver. HHH Birthday Baby: You are unique, productive and mysterious. You are adaptable and responsive.

‘up in the air’ by fred ohles The Universal Crossword/Edited by David Steinberg

ACROSS 1 City in eastern Mo. 4 Jazz sessions 8 Did a deli worker’s task 14 Palindromic sheep 15 “I don’t think so” 16 Length of service 17 Patch substance, sometimes 19 Patio furniture material 20 Attempts, informally 21 Dwell 23 Height: Prefix 24 Like most Christmas trees 28 Separate grain from 30 Pertinent 31 Worm’s-___ view 32 Make no decision about 35 Acronymic furniture retailer 36 Bad space to land on after passing go 39 Leveling wedge 42 Nash who versified, “...if called by a panther, Don’t anther” 43 Army or fire insect 46 Cockpit backup

9 Jesuit missionary Francis 4 51 One attacking settled beliefs 54 Humorist Bombeck 55 Like cutting-edge gadgets 56 Pale 57 Snob descriptor 60 Fifty-fifty flip, or a hint to each starred answer’s first four letters 62 Castle tower 63 Tear apart 64 Big Island garland 65 Bygone town announcers 66 What an interviewer does 67 Baltimore winter hrs. DOWN 1 Having feeling 2 Subject to spasms 3 Agent Running in the Field author 4 Sticks (out) 5 Often-seared tuna 6 Literature Nobelist Alice 7 Bright finish 8 Conflict 9 Chief 10 Stir together

1 Word after “cold” or “crew” 1 12 Obama ___ (2009-17) 13 Man cave, perhaps 18 Duck instrument in Peter and the Wolf 22 Autographed 24 In high style 25 Wine barrel wood 26 A, in Normandy 27 Shark habitat 29 Personal ID 33 Play the flute 34 “I can’t believe it!” letters 36 Verbal hide-and-seek giveaway 37 Send an emoji, say 38 Ortiz of Whiskey Cavalier 39 The “S” of STEM, briefly 40 Ad follower? 41 Wall Street launch 43 Safety feature on a hamster ball 44 Usually victorious rivals 45 Buses, bikes and such 47 Hang without purpose 48 Groups of eight 50 One may be bulletproof

52 Ghana’s capital 53 High heels, e.g. 56 “No ifs, ___ or buts!” 57 List-ending abbr. 58 Peta target 59 End of a short work week? 61 Pen filler

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Tuesday, November 19, 2019

Black Eyed Peas star accuses Qantas attendant of racism SYDNEY—Black Eyed Peas musician will.i.am has accused a flight attendant from Australia’s national carrier Qantas of being racist and rude to him on a flight. The musician said he was met by police at Sydney Airport on Saturday after an incident with an “overly aggressive flight attendant” who he says was upset with him because he couldn’t hear her through his noise-canceling headphones. He tweeted a photo of a police officer and said: “This is how your greeted when you land from Brisbane to Sydney flying @qantas with a #RacistFlightattendant.” He then named the flight attendant. Qantas said in a statement it rejected the allegation that the incident had anything to do with race and said it was a “misunderstanding.” “There was a misunderstanding on board, which seems to have been exacerbated by will.i.am wearing noise-canceling headphones and not being able to hear instructions from crew,” the airline said in a statement. “We’ll be following up with will.i.am and wish him well for the rest of the tour.” He and the Black Eyed Peas are in Australia to perform as part of a world tour. In other tweets, will.i.am said he wasn’t the only person on the flight to be “disrespected.” Some Twitter users who said they were passengers on the flight agreed with him. He did, however, get criticized by some who felt it was inappropriate for him to publicly name the flight attendant on his Twitter account, which has 12.8 million followers. “I don’t regret my actions,” he said, adding in another tweet that “today I felt discrimination...and I spoke for all the other people who are voiceless.” AP

MARIE KONDO’S DOING WHAT SHE CAN TO MAKE YOUR KIDS TIDY CONTINUED FROM D2 scale, and especially the amount of things in the garage, it was quite shocking.” For now, Kondo is promoting her picture book. The story of Kiki, a squirrel with a hoarding problem, and Jax, a meticulous owl who loves to sort, is a sweet extension of the best seller that led to her global influence, The Life-Changing Magic of Tidying Up. Kiki’s inability to find anything at home gets in the way of their friendship. Jax presents Kiki with a scrapbook of their bond and helps her disorganized friend put his home in order. They sort piles of stuff to donate, recycle or throw away, using Kondo’s method of folding clothes and stacking them upright in his drawers. “After I became a mother, I wanted to teach my children how to tidy,” the 35-yearold Kondo said. “I was wondering how could I make that process more fun? The picture book seemed like the perfect idea.” She credits Yoon for the idea of the characters. Kondo had Yoon draw in some of her daughters’ favorite toys—a pink ukulele painted with flowers and a stuffed donkey. Is it easier to follow the KonMari method of tidying if one was raised in a tidy household? “Of course, it’s important to have a tidy home, but there’s no need for it to be completely perfect or absolutely organized,” Kondo said. “What’s more important is that the children get to see their parents tidying.” Kondo had no children when she first set out to conquer the world of tidying. That triggered some parents who chided her for having no real idea just how big a mess kids can make and how disorganized harried parents can become. “I think my standard for tidying definitely changed after I had children,” she said. “Before, I think my ideal was a perfectly organized home, but naturally children do tend to make a mess, and I’m also limited in time, as well. It can be quite exhausting as all mothers know. I think I’ve become much more forgiving of myself.” ■

CHRISTIAN BALE (right) and Matt Damon in Ford v Ferrari, James Mangold’s racing drama that rode into the weekend with strong reviews and Oscar buzz for its leads, and a $98 million opening at the North American box office.

‘Ford v Ferrari’ speeds to No. 1; ‘Charlie’s Angels’ fizzles

BY JAKE COYLE The Associated Press

EW YORK—Ford v Ferrari left its competition in the rearview, racing to an estimated $31-million debut at the box office in a No. 1 finish that counted as a win for big-budget originality. James Mangold’s racing drama rode into the weekend with strong reviews and Oscar buzz for its leads, Christian Bale and Matt Damon. And audiences enthusiastically greeted it, giving the $98 million movie an “A+” CinemaScore. Ford v Ferrari, which dramatizes the Ford Motor Co.’s push to unseat the perennial power Ferrari at France’s 24-hour Les Mans race in 1966, has been considered a rare kind of highpriced throwback built more on story, practical effects and star power than intellectual property. Elizabeth Banks’s Charlie’s Angels reboot couldn’t keep up. The Sony Pictures release opened below expectations with $8.6 million domestically and $19.3 million overseas, according to studio estimates on Sunday. Though the movie was relatively modestly budgeted at $48 million, it fell well short of the $40.1-million debut of the 2000’s Charlie’s Angels, with Cameron Diaz, Drew Barrymore and Lucy Liu. (The 2003 sequel opened similarly with $37.6 million.)

Banks’s version of the 1976-1981 TV series gave the material a feminist spin. But Kristen Stewart was the sole widely known Angel, starring alongside Naomi Scott and Ella Balinska. And Charlie’s Angels couldn’t best the World War II movie Midway in its second week. It slotted in just ahead of Angels in second, with $8.8 million. Lately, at least, Hollywood’s efforts to dust off old intellectual property have been received with a shrug by moviegoers. November has already seen disappointing debuts for the Paramount Pictures sequel Terminator: Dark Fate ($56.9 million in three weeks) and Warner Bros.’s The Shining riff, Doctor Sleep ($25 million in two weeks). That made the initial success of Ford v Ferrari stand out even more. The Walt Disney Co. release’s opening weekend, which included $21.4 million internationally, has several laps to go before reaching profitability. But as an adult-oriented action film with excellent audience scores and awards attention, Ford v Ferrari is likely to play well for weeks to come. “We knew that it was a real crowd-pleaser. Anywhere we played it, whether at festivals or screenings, people have come out responding so positively to it. We knew that we had a little jewel here,” said Cathleen Taff, Disney’s distribution chief. “James Mangold and the Fox team, combined with the talent behind it—Matt and Christian—it’s just a great, exciting, ambitious film. It’s exactly what you want to see on the big screen.” Ford v Ferrari, made by 20th Century Fox before the company’s acquisition by Disney, is the biggest Fox hit yet released by Disney. Much of the studio’s previous Fox output, including Stuber and the X-Men film Dark Phoenix, has flopped. The Ford v Ferrari release comes sandwiched between two major Disney initiatives— the recently launched Disney+ streaming service, and the upcoming Frozen 2 release. Warner Bros.’s The Good Liar, a mystery starring Helen Mirren and Ian McKellen, was the weekend’s other new wide release. It managed a modest $5.7

million, adding to a string of underperforming adult-targeting releases for the studio, including Blinded by the Light, The Gold�inch and The Kitchen. Those disappointments all pale, though, to the Warner success Joker. On Friday, it passed $1 billion worldwide. Paul Dergarabedian, senior media analyst for data firm Comscore, applauded Ford v Ferrari as a quintessential crowd-pleaser, but noted the industry needs much more gas to chase down a 6.2 percent deficit to last year’s total domestic box office. This weekend, down 37 percent from the same weekend last year, didn’t help, either. “Ford v Ferrari may have won the race this weekend, but the industry is still trying to get out of neutral,” Dergarabedian said. “We need Frozen to thaw out this box office.” In limited release, Trey Edward Shults’s anguished family drama Waves opened on four screens in New York and Los Angeles with a $36,140 per-screen average for A24. Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore. Where available, the latest international numbers for Friday through Sunday are also included. 1. Ford v Ferrari, $31 million ($21.4 million international) 2. Midway, $8.8 million ($5.3 million international) 3. Charlie’s Angels, $8.6 million ($19.3 million international) 4. Playing With Fire, $8.6 million ($1.3 million international) 5. Last Christmas, $6.7 million ($8.6 million international) 6. Doctor Sleep, $6.2 million ($5.2 million international) 7. The Good Liar, $5.7 million ($1.5 million international) 8. Joker, $5.6 million ($13 million international) 9. Male�icent: Mistress of Evil, $5.2 million ($11.8 million international) 10. Harriet, $4.8 million. ■

Better, brighter holiday series on Noel Bazaar’s 19th year THE Metro’s longest-running Christmas shopping extravaganza, Noel Bazaar is all geared up for a better and brighter holiday series with over 500 merchants on board to delight shoppers. Marking its 19th year, the iconic bazaar series is continuously committed to being a one-stop holiday shopping destination where shoppers can discover affordable gift options, sample delicious treats and enjoy cashless shopping during the most wonderful time of the year. It is also colocated with the International Food Feast Bazaar, showcasing mouthwatering holiday eats, such as baked ham, desserts and a curated selection of signature food finds. In partnership with GMA, Noel Bazaar features an exciting lineup of special events which features the network’s stars as this year’s ambassadors—Heart

Evangelista, Benjamin Alves, Camille Pratts, Sanya Lopez, Althea Ablan and Sofia Pablo. Visitors will enjoy the heartwarming sound of Christmas music and see live performances while strolling the shopping village. They also get a chance to bring home preloved clothing, luxury bags, shoes, and accessories of their favorite GMA personalities via the Celebrity Ukay-Ukay. A celebrity auction and variety shows are also held every weekend at the bazaar’s World Trade Center and SMX Convention Center runs. Proceeds from the Celebrity Ukay-Ukay will support GMA Kapuso Foundation’s educational projects, such as Unang Hakbang sa Kinabukasan and the Kapuso School Development Program. To kick the season of giving into high gear, the team behind Noel Bazaar has prepared online contests and raffle prizes

which include limited-edition Noel Bazaar merchandise and other special items to be given away during the event. Catch Noel Bazaar on the following

dates: November 15 to 24 at the World Trade Center; November 27 to December 1 at the Filinvest Tent Alabang; and December 19 to 22 at

the SMX Convention Center. More information is available at 83727023-25, 8372-8134 and www.facebook.com/ noel.bazaar.

THE celebrity ambassadors of this year’s Noel Bazaar

Art

BusinessMirror

Tuesday, November 19, 2019

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www.businessmirror.com.ph

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Interconnectivity in ‘blueprint abstractions’: The return of Joe Bautista Exhibit on Martial Law victims on view THE many faces who fought for freedom at the time of martial law were honored through Ang Tanda-Tanda Mo Na, Sinungaling Ka Pa Rin!, an exhibition of a series of hand-sketched portraits of victims at the De La Salle University College of Law-Rufino Campus. The large-scale artworks were produced by the young student-artists from the De La Salle-College of Saint Benilde (DLS-CSB) Fashion Design and Merchandising and Production Design programs, under the guidance of artist-educator Ramon Manuel de Leon. The collection exemplifies precision on the craft and the five perceptual skills in illustration as applied to portraiture: the perception of edges, spaces, relationships, light and shadows, and gestalt. It is made possible through its Center for Campus Art. Ang Tanda-Tanda Mo Na, Sinungaling Ka Pa Rin! immortalizes the images of the individuals who, after speaking out during the dreaded period, have either gone missing, tortured or killed. It aims to prevent historical revisionism and disprove the statement of a former senator who claimed that no one was arrested and no one was executed during the martial-law era—other than suspected drug lord Lim Seng—due to their political or religious beliefs or criticism on then-President Ferdinand Marcos. Ang Tanda-Tanda Mo Na, Sinungaling Ka Pa Rin! is on view to the general public until November 30, at the De La Salle University College of Law-Rufino Campus, 38th Street, Bonifacio Global City, Taguig City.

CIRCLES JT NISAY

jtnisay@gmail.com

ISUAL artist Joe Bautista stands in a corner of the exhibition space with his arms locked and smile wide. Easy as the mid-afternoon sun in slippers and shorts, he takes a few steps forward to check on one of his paintings, then proceeds to inspect another, showing no trace of jitters for someone days away from opening his first solo exhibition in 25 years. Bautista, 68, was a decorated conceptual installation artist in the 1970s. He was part of Shop 6, an art group led by Roberto Chabet, who was hailed as the father of Philippine conceptual art. Bautista was also a recipient of the Thirteen Artist Awards from the Cultural Center of the Philippines (CCP) in 1972, as he espoused the practice that gave idea precedence over form that provoked thought and, in one instance, the country’s first lady. “I was invited to do a group show in the CCP in 1979, and I told then CCP Director Ray Albano that I was going to do my bubong inside the gallery,” recalled Bautista. The artist put up a full-scale model using rusty corrugated steel. The president’s wife, Imelda Marcos, attended the exhibit’s opening and was displeased with the sociopolitical undertones of Bautista’s work. “Kinabukasan, after the opening, wala na ’yung show,” the artist said. “Pero ibig sabihin, napansin niya ’yung gawa ko. ’Yun nga lang, kasabay ko sa exhibit sila [Napoleon] Abueva at Allan Cosio. Nag-sorry ako sa kanila kasi they were masters, tapos ako, pinakabata.” Marcos’s indignation notwithstanding, Bautista’s career progressed as he participated in the Festival

Contemporary Asian Art Show in Fukuoka, Japan, and worked as a set designer in the CCP in the 1980s. In 1994, however, he mounted a solo exhibition that proved to be his last before stepping out of the local arts scene. He focused on a T-shirt business with his wife. But during his time away from the art circuit, the artist in Bautista never really stopped creating. He mostly did collages, using combinations of drawings, magazine cutouts, plastics—any material he can get his hands on. As the years passed, a desire to return to the arts grew stronger, culminating with a conversation with his friend and fellow artist, Gus Albor. Albor introduced Bautista to Silvana AncelottiDiaz, founder of Galleria Duemila, the longestrunning commercial gallery in the Philippines, established in 1975. Impressed with the returning artist, Diaz decided to include Bautista’s works in the gallery’s booth at Art Fair Philippines last year and this year. She also granted Bautista a solo exhibition at the gallery, which opened recently and is on view until December 28. Titled Vertical and Horizontal Dreams, the yearending show of Galleria Duemila is also Bautista’s comeback exhibition, featuring works unlike anything he did in the past. “I was known as a conceptual installation artist. What I did was all concept: an interaction between the artist and the art. Now I want to paint,” Bautista said. “I want to create something that people can actually put on their walls.” Presented in the show are 26 works of “blueprint abstractions,” or paintings inspired by an architect’s floor plan replete with geometric forms and bold colors. Bautista admits he’s a frustrated architect but he has continued to follow the industry, particularly its superstars. He’s fascinated with the futurism of Zaha Hadid, the daring creativity of Santiago Calatrava and the deconstructivism of Frank Gehry.

Celebrating Filipino art this Christmas season AFTER several successful collections of art objets for the home by Filipino artists Ben Cabrera, Al Perez, Paulina Luz Sotto, Fernando Amorsolo and Arturo Luz, Rustan’s now presents O�ferings, a collection of mementoes and objets for the home honoring the work of Anita Magsaysay-Ho. The collection includes art that Anita painted on three plates during the period she lived in Tokyo, reproduced in limited edition by Bernardaud. Other pieces in the collection include artwork applied onto beautifully crafted boxes and drawings embroidered on cushion covers and napkins. Anita always said that art should be available for everyone. Thus, the collection also includes giclee reproductions of selected artwork on paper. There will be a collection of Christmas and stationary cards, with images celebrating the Christmas season. Under the Rustan’s For The Arts initiative, O�ferings will be launched on November 20 at Rustan’s Makati. Beginning January 2020, the collection will be available at Rustan’s Alabang Town Center, Gateway, Shangri-La Plaza and Cebu. A portion of the proceeds from the sale of the collection will be donated to the Anita Magsaysay-Ho Foundation, which provides scholarships to deserving

students and supports organizations promoting art and culture. Rustan’s founders, Bienvenido and Gliceria Tantoco were dedicated to promoting and supporting Filipino art and culture throughout her life. Mrs. Tantoco was very involved with the founding initiatives of the Cultural Center of the Philippines, the Philippine Philharmonic Orchestra, and Mr. Tantoco was the founding president of the Metropolitan Museum of the Philippines. Rustan’s later formed the Galerie Bleue. With this as the inspiration, Rustan’s For The Arts aims to make the works of great Filipino artists a part of our daily lives. Rustan’s first collaboration was with National Artist for Visual Arts Cabrera, where his works of art were translated to home objets; celebrated the creations of Al Perez and Paulina Luz Sotto; followed by the Philippines’ first National Artist Fernando Amorsolo, producing exclusive, limited-edition home pieces inspired by his iconic artworks; and unveiled a generation of art with an exciting showcase of talent in partnership with National Artist for Visual Arts Arturo Luz and his granddaughter, in her second collaboration with Rustan’s, Paulina Luz Sotto.

The one person whose style resonates with Bautista the most, however, is Japanese architect Tadao Ando. He raves about the simplicity, the massiveness and the rawness of the self-taught master’s design principles, which focuses on lines, shadows and texture. Bautista interprets in the show the concepts of Ando using geometric and organic forms. For one, he has incorporated in a number of pieces painted aluminum L-bars that represent pathways in the canvas blueprint, down to enclosing high walls. He has also created works that are inspired and titled after Ando’s signature structures, such as the Chichu Art Museum in Japan. Bautista pieces his works together as much as he paints them, both in concept and execution. He makes sure that each element in his abstractions, though visually disjointed, are actually connected in one form or another. In Stage for Dreams, for example, a splatter of black paint trespasses the orange pop below, which then connects to black grid under it, leading to a purple section that shares a white line with the adjacent vertical section. The concept is applied in most of the pieces, where the play is in minute details. Bautista combines three disciplines in his paintings. First, the works are oriented like posters, informed by his advertising background. Second, the calculation of the elements are inspired by his fascination with architecture. Last, the colors and overall aesthetic stem from his artistic sense. “There’s a connectivity between A and B,” Bautista said. “Like in architecture, you cannot build a structure without studying the topography of the landscape. The same applies here, there must be connectivity.” ■

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STAGE for Dreams, Joe Bautista, 2019, acrylic and ink on canvas, 48” x 36”

❷ ON view at

Galleria Duemila until December 28 is Vertical and Horizontal Dreams, the comeback show of visual artist Joe Bautista after a 25year hiatus.

❸ CHICHU Art Museum, Joe Bautista, 2019, acrylic and ink on canvas with aluminum L-bar, 60” x 36”

BERNARDAUD Plate—Women with Pineapples CUSHION Cover—Women with Vegetables, 1988

NOTEBOOK— Baskets, 1980